<PAGE> PAGE 1
000 B000000 07/31/96
000 C000000 0000355988
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 STATE BOND MONEY FUNDS, INC.
001 B000000 811-3299
001 C000000 5025827900
002 A000000 515 WEST MARKET STREET, 8TH FLOOR
002 B000000 LOUISVILLE
002 C000000 KY
002 D010000 40202
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 STATE BOND CASH MANAGEMENT FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 ARM CAPITAL ADVISORS, INC.
008 B00AA01 A
008 C00AA01 801-47942
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10166
011 A00AA01 SBM FINANCIAL SERVICES, INC.
011 B00AA01 8-14810
011 C01AA01 NEW ULM
011 C02AA01 MN
011 C03AA01 56073
011 C04AA01 0069
012 A00AA01 ARM TRANSFER AGENCY, INC.
012 B00AA01 84-5602
012 C01AA01 NEW ULM
012 C02AA01 MN
012 C03AA01 56073
<PAGE> PAGE 2
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 KANSAS CITY
013 B02AA01 MO
013 B03AA01 64105
014 A00AA01 MORGAN STANLEY AND COMPANY
014 B00AA01 8-15869
015 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64105
015 C04AA01 1716
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 6
019 C00AA00 ARMCAPITAL
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 FIRST MINNEAPOLIS
022 B000001 84-1019337
022 C000001 5433
022 D000001 0
022 A000002 AMERICAN EXPRESS CREDIT CORPORATION
022 B000002 11-1988350
022 C000002 4963
022 D000002 0
022 A000003 SEARS ROEBUCK ACCEPTANCE CORPORATION
022 B000003 51-0080535
022 C000003 4900
022 D000003 0
022 A000004 GENERAL ELECTRIC CAPITAL CORPORATION
022 B000004 13-1500700
022 C000004 3154
022 D000004 200
022 A000005 FORD MOTOR CREDIT CORPORATION
022 B000005 38-1612444
022 C000005 3041
022 D000005 0
022 A000006 HOUSEHOLD FINANCE CORPORATION
022 B000006 36-1239445
022 C000006 2860
<PAGE> PAGE 3
022 D000006 0
022 A000007 CHEVRON OIL FINANCE CORPORATION
022 B000007 25-1215010
022 C000007 1908
022 D000007 0
022 A000008 BENEFICIAL FINANCIAL CORPORATION
022 B000008 51-0003820
022 C000008 1155
022 D000008 142
022 A000009 AMERICAN GENERAL FINANCE CORPORATION
022 B000009 35-0416090
022 C000009 1293
022 D000009 0
022 A000010 ASSOCIATES CORPORATION OF NORTH AMERICA
022 B000010 74-1494554
022 C000010 1153
022 D000010 0
023 C000000 37291
023 D000000 342
024 00AA00 N
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028 C02AA00 10
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028 D01AA00 296
028 D02AA00 13
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028 D04AA00 544
028 E01AA00 849
028 E02AA00 26
028 E03AA00 0
028 E04AA00 457
028 F01AA00 180
<PAGE> PAGE 4
028 F02AA00 21
028 F03AA00 0
028 F04AA00 277
028 G01AA00 2217
028 G02AA00 90
028 G03AA00 0
028 G04AA00 2062
028 H00AA00 0
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
042 A00AA00 0
042 B00AA00 0
042 C00AA00 100
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 6
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 500000
048 A02AA00 0.400
048 B01AA00 250000
048 B02AA00 0.350
048 C01AA00 250000
048 C02AA00 0.300
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
<PAGE> PAGE 5
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 1000000
048 K02AA00 0.250
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
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054 C00AA00 N
054 D00AA00 N
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054 H00AA00 Y
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062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 63.8
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
<PAGE> PAGE 6
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 19
063 B00AA00 0.0
064 A00AA00 N
064 B00AA00 N
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
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070 J02AA00 N
070 K01AA00 N
070 K02AA00 N
070 L01AA00 N
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070 M01AA00 N
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070 O01AA00 Y
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
<PAGE> PAGE 7
071 A00AA00 0
071 B00AA00 0
071 C00AA00 0
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072 B00AA00 159
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072 Y00AA00 81
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072EE00AA00 0
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073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 3
074 B00AA00 0
074 C00AA00 3235
074 D00AA00 0
074 E00AA00 0
074 F00AA00 0
074 G00AA00 0
074 H00AA00 0
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<PAGE> PAGE 8
074 K00AA00 7
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074 N00AA00 3245
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074 S00AA00 0
074 T00AA00 3219
074 U01AA00 3219
074 U02AA00 0
074 V01AA00 1.00
074 V02AA00 0.00
074 W00AA00 1.0000
074 X00AA00 599
074 Y00AA00 0
075 A00AA00 2954
075 B00AA00 0
076 00AA00 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 A00AA00 NATIONAL UNION FIRE INSURANCE COMPANY
080 C00AA00 1750
081 A00AA00 Y
081 B00AA00 6
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
<PAGE> PAGE 9
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
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086 F020000 0
SIGNATURE KEVIN HOWARD
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL DATA EXTRACTED FROM THE ANNUAL REPORT
TO SHAREHOLDERS FOR THE STATE BOND CASH MANAGEMENT FUND AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000355988
<NAME> STATE BOND MONEY FUNDS, INC.
<SERIES>
<NUMBER> 1
<NAME> STATE BOND CASH MANAGEMENT FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 3,235,488
<INVESTMENTS-AT-VALUE> 3,235,488
<RECEIVABLES> 6,333
<ASSETS-OTHER> 3,085
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,244,906
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 26,138
<TOTAL-LIABILITIES> 26,138
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,218,768
<SHARES-COMMON-STOCK> 3,218,768
<SHARES-COMMON-PRIOR> 2,717,624
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 3,218,768
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 158,922
<OTHER-INCOME> 0
<EXPENSES-NET> 23,696
<NET-INVESTMENT-INCOME> 135,226
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 135,226
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,963,558
<NUMBER-OF-SHARES-REDEEMED> 4,627,488
<SHARES-REINVESTED> 165,074
<NET-CHANGE-IN-ASSETS> 501,144
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 11,817
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 105,383
<AVERAGE-NET-ASSETS> 2,954,250
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .05
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
