<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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072 M000800 0
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072 O000800 0
<PAGE> PAGE 41
072 P000800 0
072 Q000800 0
072 R000800 0
072 S000800 0
072 T000800 0
072 U000800 0
072 V000800 0
072 W000800 0
072 X000800 1
072 Y000800 0
072 Z000800 4
072AA000800 12
072BB000800 0
072CC010800 0
072CC020800 6
072DD010800 0
072DD020800 0
072EE000800 4
073 A010800 0.1700
073 A020800 0.0000
073 B000800 0.0000
073 C000800 0.0000
074 A000800 0
074 B000800 0
074 C000800 0
074 D000800 0
074 E000800 0
074 F000800 0
074 G000800 0
074 H000800 0
074 I000800 243
074 J000800 0
074 K000800 0
074 L000800 1
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074 N000800 244
074 O000800 0
074 P000800 0
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074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 4
074 S000800 0
074 T000800 240
074 U010800 23
074 U020800 0
074 V010800 10.40
074 V020800 0.00
074 W000800 0.0000
074 X000800 32
<PAGE> PAGE 42
074 Y000800 0
075 A000800 0
075 B000800 200
076 000800 0.00
008 A000901 GOVERNORS GROUP ADVISORS, INC
008 B000901 A
008 C000901 801-0000
008 D010901 HARRISBURG
008 D020901 PA
008 D030901 17101
008 A000902 MARTINDALE ANDRES & COMPANY, INC.
008 B000902 S
008 C000902 801-0000
008 D010902 WEST CONSHOHOCKEN
008 D020902 PA
008 D030902 19428
024 000900 N
028 A010900 135
028 A020900 0
028 A030900 0
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028 B010900 90
028 B020900 0
028 B030900 0
028 B040900 1
028 C010900 121
028 C020900 0
028 C030900 0
028 C040900 8
028 D010900 73
028 D020900 2
028 D030900 0
028 D040900 2
028 E010900 46
028 E020900 0
028 E030900 0
028 E040900 14
028 F010900 77
028 F020900 0
028 F030900 0
028 F040900 1
028 G010900 542
028 G020900 2
028 G030900 0
028 G040900 49
028 H000900 521
029 000900 Y
030 A000900 23
030 B000900 4.50
030 C000900 0.00
031 A000900 0
<PAGE> PAGE 43
031 B000900 0
032 000900 23
033 000900 0
034 000900 N
035 000900 0
036 B000900 0
037 000900 N
038 000900 0
039 000900 N
040 000900 Y
041 000900 Y
042 A000900 0
042 B000900 0
042 C000900 0
042 D000900 100
042 E000900 0
042 F000900 0
042 G000900 0
042 H000900 0
043 000900 0
044 000900 0
045 000900 Y
046 000900 N
047 000900 Y
048 000900 0.250
048 A010900 0
048 A020900 0.000
048 B010900 0
048 B020900 0.000
048 C010900 0
048 C020900 0.000
048 D010900 0
048 D020900 0.000
048 E010900 0
048 E020900 0.000
048 F010900 0
048 F020900 0.000
048 G010900 0
048 G020900 0.000
048 H010900 0
048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
048 K010900 0
048 K020900 0.000
058 A000900 N
059 000900 Y
060 A000900 Y
060 B000900 Y
<PAGE> PAGE 44
061 000900 1000
062 A000900 N
062 B000900 0.0
062 C000900 0.0
062 D000900 0.0
062 E000900 0.0
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 0.0
062 M000900 0.0
062 N000900 0.0
062 O000900 0.0
062 P000900 0.0
062 Q000900 0.0
062 R000900 0.0
063 A000900 0
063 B000900 0.0
066 A000900 Y
066 B000900 N
066 C000900 Y
066 D000900 N
066 E000900 N
066 F000900 N
066 G000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 N
070 A020900 N
070 B010900 N
070 B020900 N
070 C010900 N
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 N
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 N
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 N
<PAGE> PAGE 45
070 J020900 N
070 K010900 Y
070 K020900 Y
070 L010900 N
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 N
070 N020900 N
070 O010900 N
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900 643
071 B000900 50
071 C000900 587
071 D000900 8
072 A000900 6
072 B000900 0
072 C000900 15
072 D000900 0
072 E000900 0
072 F000900 1
072 G000900 0
072 H000900 0
072 I000900 2
072 J000900 0
072 K000900 0
072 L000900 0
072 M000900 0
072 N000900 0
072 O000900 0
072 P000900 0
072 Q000900 0
072 R000900 0
072 S000900 0
072 T000900 1
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072 V000900 0
072 W000900 0
072 X000900 4
072 Y000900 0
072 Z000900 11
072AA000900 61
072BB000900 0
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072CC020900 20
<PAGE> PAGE 46
072DD010900 11
072DD020900 0
072EE000900 0
073 A010900 0.1500
073 A020900 0.0000
073 B000900 0.0100
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074 J000900 0
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074 M000900 0
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074 O000900 0
074 P000900 0
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 11
074 S000900 0
074 T000900 869
074 U010900 79
074 U020900 0
074 V010900 11.07
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074 W000900 0.0000
074 X000900 152
074 Y000900 0
075 A000900 0
075 B000900 609
076 000900 0.00
008 A001001 GOVERNORS GROUP ADVISORS, INC.
008 B001001 A
008 C001001 801-0000
008 D011001 HARRISBURG
008 D021001 PA
008 D031001 17101
008 A001002 MARTINDALE ANDRES & COMPANY
008 B001002 S
008 C001002 801-0000
008 D011002 WEST CONSHOHOCKEN
008 D021002 PA
<PAGE> PAGE 47
008 D031002 19428
024 001000 N
028 A011000 19
028 A021000 0
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028 B021000 0
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028 G021000 1
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028 H001000 389
029 001000 Y
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033 001000 0
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035 001000 0
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037 001000 N
038 001000 0
039 001000 N
040 001000 Y
041 001000 Y
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042 B001000 0
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<PAGE> PAGE 48
042 E001000 0
042 F001000 0
042 G001000 0
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043 001000 0
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046 001000 N
047 001000 Y
048 001000 0.250
048 A011000 0
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048 B011000 0
048 B021000 0.000
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048 E011000 0
048 E021000 0.000
048 F011000 0
048 F021000 0.000
048 G011000 0
048 G021000 0.000
048 H011000 0
048 H021000 0.000
048 I011000 0
048 I021000 0.000
048 J011000 0
048 J021000 0.000
048 K011000 0
048 K021000 0.000
058 A001000 N
059 001000 Y
060 A001000 Y
060 B001000 Y
061 001000 1000
062 A001000 N
062 B001000 0.0
062 C001000 0.0
062 D001000 0.0
062 E001000 0.0
062 F001000 0.0
062 G001000 0.0
062 H001000 0.0
062 I001000 0.0
062 J001000 0.0
062 K001000 0.0
062 L001000 0.0
062 M001000 0.0
062 N001000 0.0
<PAGE> PAGE 49
062 O001000 0.0
062 P001000 0.0
062 Q001000 0.0
062 R001000 0.0
063 A001000 0
063 B001000 0.0
066 A001000 Y
066 B001000 N
066 C001000 Y
066 D001000 N
066 E001000 N
066 F001000 N
066 G001000 N
067 001000 N
068 A001000 N
068 B001000 N
069 001000 N
070 A011000 N
070 A021000 N
070 B011000 N
070 B021000 N
070 C011000 N
070 C021000 N
070 D011000 N
070 D021000 N
070 E011000 N
070 E021000 N
070 F011000 N
070 F021000 N
070 G011000 N
070 G021000 N
070 H011000 N
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 N
070 J021000 N
070 K011000 Y
070 K021000 Y
070 L011000 N
070 L021000 N
070 M011000 N
070 M021000 N
070 N011000 N
070 N021000 N
070 O011000 N
070 O021000 N
070 P011000 N
070 P021000 N
070 Q011000 N
070 Q021000 N
<PAGE> PAGE 50
070 R011000 N
070 R021000 N
071 A001000 457
071 B001000 16
071 C001000 366
071 D001000 4
072 A001000 6
072 B001000 0
072 C001000 10
072 D001000 0
072 E001000 0
072 F001000 0
072 G001000 0
072 H001000 0
072 I001000 1
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072 K001000 0
072 L001000 0
072 M001000 0
072 N001000 0
072 O001000 0
072 P001000 0
072 Q001000 0
072 R001000 0
072 S001000 0
072 T001000 1
072 U001000 0
072 V001000 0
072 W001000 0
072 X001000 2
072 Y001000 0
072 Z001000 8
072AA001000 41
072BB001000 0
072CC011000 0
072CC021000 5
072DD011000 7
072DD021000 0
072EE001000 0
073 A011000 0.1400
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074 D001000 0
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<PAGE> PAGE 51
074 I001000 662
074 J001000 0
074 K001000 0
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074 M001000 0
074 N001000 665
074 O001000 0
074 P001000 0
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074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 9
074 S001000 0
074 T001000 656
074 U011000 58
074 U021000 0
074 V011000 11.39
074 V021000 0.00
074 W001000 0.0000
074 X001000 137
074 Y001000 0
075 A001000 0
075 B001000 369
076 001000 0.00
008 A001101 GOVERNORS GROUP ADVISORS, INC.
008 B001101 A
008 C001101 801-0000
008 D011101 HARRISBURG
008 D021101 PA
008 D031101 17101
008 A001102 MARTINDALE ANDRES & COMPANY, INC.
008 B001102 S
008 C001102 801-0000
008 D011102 WEST CONSHOHOCKEN
008 D021102 PA
008 D031102 19428
024 001100 Y
025 A001101 LEHMAN BROTHERS, INC.
025 B001101 13-2518466
025 C001101 D
025 D001101 4400
025 D001102 0
025 D001103 0
025 D001104 0
025 D001105 0
025 D001106 0
025 D001107 0
025 D001108 0
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028 A021100 7
<PAGE> PAGE 52
028 A031100 0
028 A041100 2133
028 B011100 2631
028 B021100 8
028 B031100 0
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028 C011100 1935
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028 E011100 4449
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028 F011100 4977
028 F021100 9
028 F031100 0
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028 G011100 18510
028 G021100 52
028 G031100 0
028 G041100 17638
028 H001100 0
029 001100 Y
030 A001100 0
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030 C001100 0.00
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031 B001100 0
032 001100 0
033 001100 0
034 001100 N
035 001100 0
036 B001100 0
037 001100 N
038 001100 0
039 001100 N
040 001100 N
045 001100 Y
046 001100 N
047 001100 Y
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048 B011100 0
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<PAGE> PAGE 53
048 C021100 0.000
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048 K011100 0
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062 D001100 45.5
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063 B001100 0.0
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064 B001100 N
066 A001100 N
067 001100 N
068 A001100 N
068 B001100 N
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<PAGE> PAGE 54
070 B011100 N
070 B021100 N
070 C011100 N
070 C021100 N
070 D011100 N
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 N
070 F021100 N
070 G011100 N
070 G021100 N
070 H011100 N
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 N
070 J021100 N
070 K011100 Y
070 K021100 Y
070 L011100 N
070 L021100 N
070 M011100 N
070 M021100 N
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 N
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 0
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072 G001100 15
072 H001100 0
072 I001100 12
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<PAGE> PAGE 55
072 N001100 0
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072 R001100 4
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072DD021100 0
072EE001100 0
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<PAGE> PAGE 56
074 W001100 0.9997
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008 A001201 GOVERNORS GROUP ADVISORS, INC.
008 B001201 A
008 C001201 801-0000
008 D011201 HARRISBURG
008 D021201 PA
008 D031201 17101
008 A001202 MARTINDALE ANDRES & COMPANY, INC.
008 B001202 S
008 C001202 801-0000
008 D011202 WEST CONSHOHOCKEN
008 D021202 PA
008 D031202 19428
024 001200 Y
025 A001201 LEHMAN BROTHERS, INC.
025 B001201 13-2518466
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025 D001201 34769
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<PAGE> PAGE 57
028 E031200 0
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<PAGE> PAGE 58
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070 H021200 N
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<PAGE> PAGE 59
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070 P011200 N
070 P021200 N
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070 Q021200 N
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<PAGE> PAGE 60
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SIGNATURE AARON MASEK
TITLE SUPERVISOR
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001069806
<NAME> GOVERNOR FUNDS
<SERIES>
<NUMBER> 01
<NAME> ESTABLISHED GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 138652245
<INVESTMENTS-AT-VALUE> 271204503
<RECEIVABLES> 1166566
<ASSETS-OTHER> 16818
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 272387887
<PAYABLE-FOR-SECURITIES> 871850
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 404482
<TOTAL-LIABILITIES> 1276332
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 127084501
<SHARES-COMMON-STOCK> 19631382
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<NAME> GOVERNOR FUNDS
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<NAME> GOVERNOR FUNDS
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<NAME> GOVERNOR FUNDS
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<NAME> INTERNATIONAL EQUTIY FUND
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<CIK> 0001069806
<NAME> GOVERNOR FUNDS
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<NAME> INTERMEDIATE TERM INCOME
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<CIK> 0001069806
<NAME> GOVERNOR FUNDS
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<NAME> LIMITED DURATION GOVERNMENT SECURITIES FUND
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<CIK> 0001069806
<NAME> GOVERNOR FUNDS
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<NAME> PENNSYLVANIA MUNICIPAL BOND FUND
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<CIK> 0001069806
<NAME> GOVERNOR FUNDS
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<NAME> GOVERNOR FUNDS
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<NAME> GOVERNOR FUNDS
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<NAME> LIFESTYLE GROWTH FUND
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<NAME> U.S. TREASURY OBLIGATIONS MONEY MARKET FUND
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 0001069806
<NAME> GOVERNOR FUNDS
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<NAME> PRIME MONEY MARKET FUNDS INVESTOR SHARES
<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 0001069806
<NAME> GOVERNOR FUNDS
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<NAME> PRIME MONEY MARKET FUNDS S SHARES
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