-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SyqxJ8VjpS+Ig+QgRTyow0CyUd4DL+o3D98DEgCzqpuxDAUXEAVmXw4N4f7flTPh TwrZPGEoI1qfmnr092dFZg== 0000930413-06-007471.txt : 20061027 0000930413-06-007471.hdr.sgml : 20061027 20061027085253 ACCESSION NUMBER: 0000930413-06-007471 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060831 FILED AS OF DATE: 20061027 DATE AS OF CHANGE: 20061027 EFFECTIVENESS DATE: 20061027 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HILLIARD LYONS GOVERNMENT FUND INC CENTRAL INDEX KEY: 0000317872 IRS NUMBER: 610978881 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-03070 FILM NUMBER: 061167297 BUSINESS ADDRESS: STREET 1: HILLIARD LYONS CTR STREET 2: PO BOX 32760 CITY: LOUISVILLE STATE: KY ZIP: 40232 BUSINESS PHONE: 5025888832 MAIL ADDRESS: STREET 1: PO BOX 32760 CITY: LOUISVILLE STATE: KY ZIP: 40232 FORMER COMPANY: FORMER CONFORMED NAME: HILLIARD LYONS CASH MANAGEMENT INC DATE OF NAME CHANGE: 19830125 0000317872 S000000761 HILLIARD LYONS GOVERNMENT FUND INC C000002178 HILLIARD LYONS GOVERNMENT FUND INC HLCXX NSAR-B 1 c44821_nsar-b.fil PAGE 1 000 B000000 08/31/2006 000 C000000 0000317872 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 U 001 A000000 HILLIARD-LYONS GOVERNMENT FUND, INC 001 B000000 811-3070 001 C000000 5025888832 002 A000000 P.O. 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K000000 0 074 L000000 0 074 M000000 1 074 N000000 1399897 074 O000000 0 074 P000000 860 074 Q000000 0 074 R010000 0 074 R020000 0 074 R030000 0 074 R040000 2949 074 S000000 0 074 T000000 1396088 074 U010000 1396088 074 U020000 0 074 V010000 1.00 074 V020000 0.00 074 W000000 0.0000 074 X000000 149727 074 Y000000 0 075 A000000 1405314 075 B000000 0 PAGE 9 076 000000 0.00 077 A000000 Y 077 B000000 Y 077 C000000 N 077 D000000 N 077 E000000 N 077 F000000 N 077 G000000 N 077 H000000 N 077 I000000 N 077 J000000 N 077 K000000 N 077 L000000 N 077 M000000 N 077 N000000 N 077 O000000 N 077 P000000 N 078 000000 N 080 A000000 ST. PAUL FIRE AND MARINE INSURANCE CO. 080 C000000 2000 081 A000000 N 081 B000000 0 082 A000000 Y 082 B000000 10 083 A000000 N 083 B000000 0 084 A000000 N 084 B000000 0 085 A000000 Y 085 B000000 N 086 A010000 0 086 A020000 0 086 B010000 0 086 B020000 0 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 SIGNATURE STEPHANIE FERREE TITLE SECRETARY EX-99.77B 2 c44821_ex99-77b.txt Exhibit 99.77B Deloitte & Touche LLP [Graphic Omitted] 1700 Market Street Philadelphia, PA 19103 USA Tel: 215-246-2300 Fax: 215-569-2441 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders and Board of Directors of Hilliard-Lyons Government Fund, Inc.: In planning and performing our audit of the financial statements of the Hilliard-Lyons Government Fund, Inc. (the "Fund") as of and for the year ended August 31, 2006, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered its internal control over financial reporting, including control activities for safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion. The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Such internal control includes policies and procedures that provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a company's assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate. A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the company's ability to initiate, authorize, record, process, or report external financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the company's annual or interim financial statements that is more than inconsequential will not be prevented or detected. A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected. Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be significant deficiencies or material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls for safeguarding securities, that we consider to be a material weakness, as defined above, as of August 31, 2006. This report is intended solely for the information and use of management and the Board of Directors of the Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties. /s/ Deloitte & Touche LLP September 22, 2006 -----END PRIVACY-ENHANCED MESSAGE-----