<PAGE> PAGE 1
000 B000000 03/31/98
000 C000000 0000230173
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 DELAWARE GROUP CASH RESERVE, INC.
001 B000000 811-2806
001 C000000 2152552127
002 A000000 2005 MARKET STREET
002 B000000 PHILADELPHIA
002 C000000 PA
002 D010000 19103
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
022 A000001 LUMMIS & CO.
022 C000001 27535484
022 D000001 0
022 A000002 GOLDMAN SACHS
022 C000002 1294119
022 D000002 0
022 A000003 FIRST BOSTON
022 C000003 532803
022 D000003 0
022 A000004 MORGAN STANLEY
022 C000004 355559
022 D000004 0
022 A000005 MERRILL LYNCH
022 C000005 244345
022 D000005 14944
022 A000006 JP MORGAN
022 C000006 178014
022 D000006 0
022 A000007 HARRIS TRUST
022 C000007 172000
022 D000007 0
022 A000008 BEAR STEARNS
022 C000008 94744
022 D000008 0
022 A000009 ERLICH-BOBER
022 C000009 49992
022 D000009 0
022 A000010 WEST DEUTSCHE BANK
022 C000010 38699
<PAGE> PAGE 2
022 D000010 0
023 C000000 30694689
023 D000000 19937
024 000000 N
027 000000 Y
028 A010000 516608
028 A020000 0
028 A030000 0
028 A040000 339603
028 B010000 334129
028 B020000 3705
028 B030000 0
028 B040000 380379
028 C010000 479656
028 C020000 2175
028 C030000 0
028 C040000 549316
028 D010000 411504
028 D020000 2099
028 D030000 0
028 D040000 386755
028 E010000 344091
028 E020000 2028
028 E030000 0
028 E040000 357567
028 F010000 391261
028 F020000 1968
028 F030000 0
028 F040000 367583
028 G010000 2477249
028 G020000 11975
028 G030000 0
028 G040000 2381203
028 H000000 0
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 100
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
062 A000000 Y
062 B000000 0.0
062 C000000 8.3
062 D000000 0.0
062 E000000 0.0
062 F000000 8.7
062 G000000 0.0
<PAGE> PAGE 3
062 H000000 0.0
062 I000000 69.7
062 J000000 12.0
062 K000000 0.0
062 L000000 1.3
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 47
063 B000000 0.0
071 A000000 30694689
071 B000000 19937
071 C000000 591626
071 D000000 0
072 A000000 12
072 B000000 33394
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 2905
072 G000000 0
072 H000000 320
072 I000000 1669
072 J000000 29
072 K000000 0
072 L000000 87
072 M000000 22
072 N000000 70
072 O000000 2
072 P000000 0
072 Q000000 0
072 R000000 20
072 S000000 22
072 T000000 196
072 U000000 0
072 V000000 0
072 W000000 73
072 X000000 5415
072 Y000000 0
072 Z000000 27974
072AA000000 0
072BB000000 0
072CC010000 0
072CC020000 0
072DD010000 26243
072DD020000 1736
072EE000000 0
073 A010000 0.0480
<PAGE> PAGE 4
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 93
074 B000000 0
074 C000000 607113
074 D000000 0
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 4689
074 M000000 0
074 N000000 611895
074 O000000 0
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 37157
074 S000000 0
074 T000000 574738
074 U010000 524477
074 U020000 50261
074 V010000 1.00
074 V020000 1.00
074 W000000 1.0000
074 X000000 38395
074 Y000000 0
075 A000000 0
075 B000000 591626
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 Q010000 Y
080 A000000 ICI MUTUAL INSURANCE COMPANY, INC.
080 B000000 GULF INSURANCE COMPANY
080 C000000 40000
081 A000000 Y
081 B000000 142
082 A000000 Y
082 B000000 50
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
<PAGE> PAGE 5
085 B000000 N
SIGNATURE DONNA D. BRYEN
TITLE ASSISTANT VP
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000230173
<NAME> DELAWARE GROUP CASH RESERVE, INC.
<SERIES>
<NUMBER> 01
<NAME> DELAWARE CASH RESERVE A CLASS
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 607,112,610
<INVESTMENTS-AT-VALUE> 607,112,610
<RECEIVABLES> 4,670,575
<ASSETS-OTHER> 111,264
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 611,894,449
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 37,156,574
<TOTAL-LIABILITIES> 37,156,574
<SENIOR-EQUITY> 574,738
<PAID-IN-CAPITAL-COMMON> 574,163,137
<SHARES-COMMON-STOCK> 524,477,076
<SHARES-COMMON-PRIOR> 594,432,344
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 524,477,075
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 33,393,903
<OTHER-INCOME> 0
<EXPENSES-NET> 5,415,262
<NET-INVESTMENT-INCOME> 27,978,641
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 27,978,641
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 26,242,787
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,429,116,792
<NUMBER-OF-SHARES-REDEEMED> 3,523,084,265
<SHARES-REINVESTED> 23,567,546
<NET-CHANGE-IN-ASSETS> (59,393,638)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,904,636
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,415,262
<AVERAGE-NET-ASSETS> 546,511,013
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.048
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.048
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.880
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000230173
<NAME> DELAWARE GROUP CASH RESERVE, INC.
<SERIES>
<NUMBER> 02
<NAME> DELAWARE CASH RESERVE B CLASS
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 607,112,610
<INVESTMENTS-AT-VALUE> 607,112,610
<RECEIVABLES> 4,670,575
<ASSETS-OTHER> 111,264
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 611,894,449
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 37,156,574
<TOTAL-LIABILITIES> 37,156,574
<SENIOR-EQUITY> 574,738
<PAID-IN-CAPITAL-COMMON> 574,163,137
<SHARES-COMMON-STOCK> 6,522,397
<SHARES-COMMON-PRIOR> 12,987,826
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 6,522,397
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 33,393,903
<OTHER-INCOME> 0
<EXPENSES-NET> 5,415,262
<NET-INVESTMENT-INCOME> 27,978,641
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 27,978,641
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 297,746
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 65,522,239
<NUMBER-OF-SHARES-REDEEMED> 72,215,007
<SHARES-REINVESTED> 227,339
<NET-CHANGE-IN-ASSETS> (59,393,638)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,904,636
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,415,262
<AVERAGE-NET-ASSETS> 7,037,896
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.038
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.038
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 1.880
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000230173
<NAME> DELAWARE GROUP CASH RESERVE, INC.
<SERIES>
<NUMBER> 03
<NAME> DELAWARE CASH RESERVE C CLASS
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 607,112,610
<INVESTMENTS-AT-VALUE> 607,112,610
<RECEIVABLES> 4,670,575
<ASSETS-OTHER> 111,264
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 611,894,449
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 37,156,574
<TOTAL-LIABILITIES> 37,156,574
<SENIOR-EQUITY> 574,738
<PAID-IN-CAPITAL-COMMON> 574,163,137
<SHARES-COMMON-STOCK> 3,701,731
<SHARES-COMMON-PRIOR> 2,798,547
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 3,701,732
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 33,393,903
<OTHER-INCOME> 0
<EXPENSES-NET> 5,415,262
<NET-INVESTMENT-INCOME> 27,978,641
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 27,978,641
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 109,751
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 46,237,917
<NUMBER-OF-SHARES-REDEEMED> 45,429,174
<SHARES-REINVESTED> 94,442
<NET-CHANGE-IN-ASSETS> (59,393,638)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,904,636
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,415,262
<AVERAGE-NET-ASSETS> 3,373,927
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.038
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.038
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 1.880
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000230173
<NAME> DELAWARE GROUP CASH RESERVE, INC.
<SERIES>
<NUMBER> 04
<NAME> DELAWARE CASH RESERVE CONSULTANT CLASS
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 607,112,610
<INVESTMENTS-AT-VALUE> 607,112,610
<RECEIVABLES> 4,670,575
<ASSETS-OTHER> 111,264
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 611,894,449
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 37,156,574
<TOTAL-LIABILITIES> 37,156,574
<SENIOR-EQUITY> 574,738
<PAID-IN-CAPITAL-COMMON> 574,163,137
<SHARES-COMMON-STOCK> 40,036,671
<SHARES-COMMON-PRIOR> 23,912,796
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 40,036,671
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 33,393,903
<OTHER-INCOME> 0
<EXPENSES-NET> 5,415,262
<NET-INVESTMENT-INCOME> 27,978,641
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 27,978,641
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,328,357
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 475,319,290
<NUMBER-OF-SHARES-REDEEMED> 459,846,745
<SHARES-REINVESTED> 1,095,988
<NET-CHANGE-IN-ASSETS> (59,393,638)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,904,636
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,415,262
<AVERAGE-NET-ASSETS> 34,703,009
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.045
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.045
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 1.130
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
Report of Independent Auditors
To the Shareholders and Board of Directors
Delaware Group Cash Reserve, Inc.
In planning and performing our audit of the financial
statements of Delaware Group Cash Reserve, Inc. (the "Fund")
for the year ended March 31, 1998, we considered its internal
control, including control activities for safeguarding
securities, in order to determine our auditing procedures for
the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR,
and not to provide assurance on internal control.
The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles.
Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to
the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American
Institute of Certified Public Accountants. A material weakness
is a condition in which the design or operation of one or more
specific internal control components does not reduce to a
relatively low level the risk that errors or fraud in amounts
that would be material in relation to the financial statements
being audited may occur and not be detected within a timely
period by employees in the normal course of performing their
assigned functions. However, we noted no matters involving
internal control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above at March 31, 1998.
This report is intended solely for the information and use of
the board of directors and management of Delaware Group Cash
Reserve, Inc. and the Securities and Exchange Commission.
Philadelphia, Pennsylvania
April 29, 1998
