<PAGE> PAGE 1
000 B000000 03/31/95
000 C000000 356822
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 J000000 A
001 A000000 SAFECO MONEY MARKET TRUST
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001 C000000 2065455172
002 A000000 SAFECO PLAZA S-2
002 B000000 SEATTLE
002 C000000 WA
002 D010000 98185
002 D020000 0000
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 SAFECO MONEY MARKET FUND
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007 C010200 2
007 C020200 SAFECO TAX-FREE MONEY MARKET FUND
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007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
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008 B00AA01 A
008 C00AA01 801-8254
008 D01AA01 SEATTLE
008 D02AA01 WA
008 D03AA01 98185
011 A00AA01 SAFECO SECURITIES, INC.
011 B00AA01 8-13470
011 C01AA01 SEATTLE
011 C02AA01 WA
011 C03AA01 98185
012 A00AA01 SAFECO SERVICES CORP.
012 B00AA01 84-00138
012 C01AA01 SEATTLE
<PAGE> PAGE 2
012 C02AA01 WA
012 C03AA01 98185
013 A00AA01 ERNST & YOUNG
013 B01AA01 SEATTLE
013 B02AA01 WA
013 B03AA01 98104
013 B04AA01 4086
015 A00AA01 U.S. BANK OF WASHINGTON, N.A.
015 B00AA01 C
015 C01AA01 SEATTLE
015 C02AA01 WA
015 C03AA01 98101
015 E01AA01 X
015 A00AA02 BANK OF NEW YORK
015 B00AA02 S
015 C01AA02 NEW YORK
015 C02AA02 NY
015 C03AA02 10015
015 E01AA02 X
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022 D000001 206003
022 A000002 BANK OF AMERICA
022 B000002 94-1687665
022 C000002 1444141
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022 C000003 351019
022 D000003 0
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022 B000004 13-5659485
022 C000004 112911
022 D000004 0
022 A000005 AIM TAX-EXEMPT MONEY MARKET FUND, INC.
<PAGE> PAGE 3
022 B000005 76-0026440
022 C000005 52558
022 D000005 53497
022 A000006 CITICORP FINANCIAL SERVICES, INC.
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022 C000007 38685
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022 B000008 38-0570512
022 C000008 35685
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022 C000009 29740
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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
070 F010100 N
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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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SIGNATURE DAVID F. HILL
TITLE PRESIDENT
To the Board of Directors and Shareholders
of SAFECO Money Market Trust
In planning and performing our audit of the financial statements
of the SAFECO Money Market Trust (comprising, respectively, the
SAFECO Money Market Fund and SAFECO Tax-Free Money Market Fund)
for the period ended March 31, 1995, we considered its internal
control structure, including procedures for safeguarding
securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements, to
comply with the requirements of Form N-SAR, and not to provide
assurance on the internal control structure.
The management of the SAFECO Money Market Trust is responsible
for establishing and maintaining an internal control structure.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of internal control policies and procedures. Two
of the objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance with
management's authorization and recorded properly to permit
preparation of financial statements in conformity with generally
accepted accounting principles.
Because of inherent limitations in any internal control
structure, errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of the structure 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 the internal control structure would not
necessarily disclose all matters in the internal control
structure 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 the specific internal control structure
elements does not reduce to a relatively low level the risk that
errors or irregularities 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 the internal control structure, including
procedures for safeguarding securities, that we consider to be
material weaknesses as defined above as of March 31, 1995.
This report is intended solely for the information and use of
management and the Securities and Exchange Commission.
Ernst & Young LLP
April 26, 1995
