<PAGE> PAGE 1
000 B000000 09/30/98
000 C000000 0000700844
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THE RODNEY SQUARE FUND
001 B000000 811-3406
001 C000000 3026518280
002 A000000 RODNEY SQUARE NORTH, 1100 N. MARKET ST.
002 B000000 WILMINGTON
002 C000000 DE
002 D010000 19890
002 D020000 0001
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 U.S. GOVERNMENT PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 MONEY MARKET PORTFOLIO
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
<PAGE> PAGE 2
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
007 C014100 41
007 C014200 42
007 C014300 43
007 C014400 44
007 C014500 45
007 C014600 46
007 C014700 47
007 C014800 48
007 C014900 49
007 C015000 50
007 C015100 51
007 C015200 52
007 C015300 53
007 C015400 54
007 C015500 55
007 C015600 56
007 C015700 57
007 C015800 58
007 C015900 59
007 C016000 60
007 C016100 61
007 C016200 62
007 C016300 63
007 C016400 64
007 C016500 65
007 C016600 66
007 C016700 67
007 C016800 68
007 C016900 69
007 C017000 70
007 C017100 71
007 C017200 72
007 C017300 73
007 C017400 74
007 C017500 75
<PAGE> PAGE 3
007 C017600 76
007 C017700 77
007 C017800 78
007 C017900 79
007 C018000 80
007 C018100 81
007 C018200 82
007 C018300 83
007 C018400 84
007 C018500 85
007 C018600 86
007 C018700 87
007 C018800 88
007 C018900 89
007 C019000 90
008 A00AA01 RODNEY SQUARE MANAGEMENT CORPORATION
008 B00AA01 A
008 C00AA01 801-22071
008 D01AA01 WILMINGTON
008 D02AA01 DE
008 D03AA01 19890
008 D04AA01 0001
010 A00AA01 PFPC, INC
010 B00AA01 85-1196
010 C01AA01 WILMINGTON
010 C02AA01 DE
010 C03AA01 19809
010 C04AA01 0001
011 A00AA01 RODNEY SQUARE DISTRIBUTORS, INC.
011 B00AA01 8-37006
011 C01AA01 WILMINGTON
011 C02AA01 DE
011 C03AA01 19890
011 C04AA01 0001
012 A00AA01 PFPC, INC
012 B00AA01 85-825
012 C01AA01 WILMINGTON
012 C02AA01 DE
012 C03AA01 19809
012 C04AA01 0001
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 BALTIMORE
013 B02AA01 MD
013 B03AA01 21201
014 A00AA01 WILMINGTON BROKERAGE SERVICES, INC.
014 B00AA01 8-31441
015 A00AA01 PNC BANK, INC.
015 B00AA01 S
015 C01AA01 PHILADELPHIA
015 C02AA01 PA
015 C03AA01 19103
<PAGE> PAGE 4
015 E01AA01 X
015 A00AA02 WILMINGTON TRUST COMPANY
015 B00AA02 C
015 C01AA02 WILMINGTON
015 C02AA02 DE
015 C03AA02 19890
015 E01AA02 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 6
019 C00AA00 RODNEYSQUA
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 CS FIRST BOSTON CORP.
022 B000001 13-5659485
022 C000001 65739850
022 D000001 4890
022 A000002 DEAN WITTER REYNOLDS
022 C000002 15973028
022 D000002 0
022 A000003 GOLDMAN, SACHS & CO.
022 B000003 13-5108880
022 C000003 10324878
022 D000003 29971
022 A000004 UBS SECURITIES, INC.
022 B000004 13-3873456
022 C000004 6562753
022 D000004 0
022 A000005 SWISS BANK CORP. INTERNATIONAL SEC. INC.
022 C000005 5152221
022 D000005 0
022 A000006 MORGAN STANLEY DEAN WITTER DISCOVER & CO.
022 B000006 13-2655998
022 C000006 4137587
022 D000006 0
022 A000007 MERRILL LYNCH, PIERCE, FENNER & SMITH
022 B000007 13-5674085
022 C000007 1745516
022 D000007 0
022 A000008 MORGAN (J.P.) SECURITIES INC.
022 B000008 13-3224016
022 C000008 1430526
<PAGE> PAGE 5
022 D000008 0
022 A000009 WARBURG & CO. INC.
022 C000009 1409800
022 D000009 0
022 A000010 CANADIAN IMPERIAL BANK
022 B000010 13-2798343
022 C000010 1315383
022 D000010 0
023 C000000 117516264
023 D000000 94292
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
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
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 1000000
048 A02AA00 0.470
048 B01AA00 500000
048 B02AA00 0.430
048 C01AA00 500000
048 C02AA00 0.400
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
<PAGE> PAGE 6
048 F02AA00 0.000
048 G01AA00 0
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 2000000
048 K02AA00 0.370
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 Y
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 Y
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
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
<PAGE> PAGE 7
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 NATIONAL UNION FIRE INS.CO.OF PITTSBURGH, PA
080 B00AA00 NATIONAL UNION FIRE INS.CO. OF PITTSBURGH, PA
080 C00AA00 53750
081 A00AA00 Y
081 B00AA00 17
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 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
024 000100 Y
025 A000101 CS FIRST BOSTON, INC.
025 B000101 13-5659485
025 C000101 D
025 D000101 200000
025 A000102 MORGAN STANLEY DEAN WITTER, DISCOVER & CO.
025 B000102 13-2655998
025 C000102 D
025 D000102 106000
025 A000103 CANADIAN IMPERIAL BANK
025 B000103 13-2798343
025 C000103 D
025 D000103 70941
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
<PAGE> PAGE 8
025 D000108 0
025 D000109 0
025 D000110 0
025 D000111 0
025 D000112 0
025 D000113 0
025 D000114 0
025 D000115 0
025 D000116 0
028 A010100 269602
028 A020100 39
028 A030100 0
028 A040100 260055
028 B010100 500896
028 B020100 38
028 B030100 0
028 B040100 269443
028 C010100 171863
028 C020100 64
028 C030100 0
028 C040100 452805
028 D010100 158359
028 D020100 38
028 D030100 0
028 D040100 134754
028 E010100 170389
028 E020100 36
028 E030100 0
028 E040100 106272
028 F010100 265842
028 F020100 56
028 F030100 0
028 F040100 137054
028 G010100 1536951
028 G020100 271
028 G030100 0
028 G040100 1360383
028 H000100 0
042 A000100 60
042 B000100 9
042 C000100 0
042 D000100 31
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 54
044 000100 0
062 A000100 Y
062 B000100 0.0
062 C000100 53.0
<PAGE> PAGE 9
062 D000100 47.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 48
063 B000100 0.0
064 A000100 N
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
<PAGE> PAGE 10
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 12
072 B000100 32082
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 2692
072 G000100 0
072 H000100 0
072 I000100 0
072 J000100 0
072 K000100 0
072 L000100 6
072 M000100 10
072 N000100 96
072 O000100 0
072 P000100 0
072 Q000100 144
072 R000100 12
072 S000100 22
072 T000100 54
072 U000100 0
072 V000100 0
072 W000100 40
072 X000100 3076
072 Y000100 0
072 Z000100 29006
072AA000100 0
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 29006
072DD020100 0
072EE000100 0
073 A010100 0.0510
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
<PAGE> PAGE 11
074 B000100 376941
074 C000100 425390
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 3210
074 M000100 6
074 N000100 805547
074 O000100 0
074 P000100 281
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 3113
074 S000100 0
074 T000100 802153
074 U010100 802150
074 U020100 0
074 V010100 1.00
074 V020100 0.00
074 W000100 1.0005
074 X000100 2652
074 Y000100 0
075 A000100 572812
075 B000100 0
076 000100 0.00
024 000200 Y
025 A000201 CS FIRST BOSTON, INC.
025 B000201 13-5659485
025 C000201 D
025 D000201 221019
025 A000202 MERRILL LYNCH, PIERCE, FENNER & SMITH
025 B000202 13-5674085
025 C000202 D
025 D000202 69437
025 A000203 MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
025 B000203 13-2655998
025 C000203 D
025 D000203 49171
025 A000204 CANADIAN IMPERIAL BANK
025 B000204 13-2798343
025 C000204 D
025 D000204 40000
025 A000205 DEUTSCHE BANK
025 C000205 D
<PAGE> PAGE 12
025 D000205 34995
025 A000206 CREDIT AGRICOLE INDOSUER
025 C000206 D
025 D000206 34247
025 A000207 UBS SECURITIES, INC.
025 B000207 13-2932996
025 C000207 D
025 D000207 29931
025 A000208 SWISS BANK CORP.
025 C000208 D
025 D000208 19993
028 A010200 423610
028 A020200 593
028 A030200 0
028 A040200 462189
028 B010200 197452
028 B020200 574
028 B030200 0
028 B040200 155667
028 C010200 264097
028 C020200 586
028 C030200 0
028 C040200 137820
028 D010200 338904
028 D020200 573
028 D030200 0
028 D040200 300192
028 E010200 191279
028 E020200 625
028 E030200 0
028 E040200 167721
028 F010200 415168
028 F020200 639
028 F030200 0
028 F040200 206958
028 G010200 1830510
028 G020200 3590
028 G030200 0
028 G040200 1430547
028 H000200 0
042 A000200 1
042 B000200 0
042 C000200 0
042 D000200 99
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 254
044 000200 0
062 A000200 Y
<PAGE> PAGE 13
062 B000200 0.0
062 C000200 0.0
062 D000200 9.1
062 E000200 0.0
062 F000200 2.1
062 G000200 22.3
062 H000200 0.0
062 I000200 55.3
062 J000200 5.9
062 K000200 0.0
062 L000200 5.1
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 56
063 B000200 0.0
064 A000200 Y
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 N
<PAGE> PAGE 14
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 12
072 B000200 77761
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 6393
072 G000200 0
072 H000200 0
072 I000200 0
072 J000200 0
072 K000200 0
072 L000200 17
072 M000200 13
072 N000200 160
072 O000200 0
072 P000200 0
072 Q000200 304
072 R000200 30
072 S000200 55
072 T000200 254
072 U000200 0
072 V000200 0
072 W000200 113
072 X000200 7339
072 Y000200 0
072 Z000200 70422
072AA000200 0
072BB000200 1
072CC010200 0
072CC020200 0
072DD010200 70422
072DD020200 0
072EE000200 0
073 A010200 0.0510
073 A020200 0.0000
073 B000200 0.0000
<PAGE> PAGE 15
073 C000200 0.0000
074 A000200 0
074 B000200 155298
074 C000200 1543950
074 D000200 0
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 10962
074 M000200 8
074 N000200 1710218
074 O000200 0
074 P000200 600
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 6884
074 S000200 0
074 T000200 1702734
074 U010200 1702764
074 U020200 0
074 V010200 1.00
074 V020200 0.00
074 W000200 1.0004
074 X000200 11109
074 Y000200 0
075 A000200 1605576
075 B000200 0
076 000200 0.00
072 I003300 0
072 J003300 0
072 K003300 0
072 L003300 0
072 M003300 0
072 N003300 0
072 O003300 0
072 P003300 0
072 Q003300 0
072 R003300 0
072 S003300 0
072 T003300 0
072 U003300 0
072 V003300 0
072 W003300 0
072 X003300 0
<PAGE> PAGE 16
SIGNATURE MARY JANE MALONEY
TITLE MANAGER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000700844
<NAME> THE RODNEY SQUARE FUND
<SERIES>
<NUMBER> 01
<NAME> U.S. GOVERNMENT PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 802331139
<INVESTMENTS-AT-VALUE> 802331139
<RECEIVABLES> 3210482
<ASSETS-OTHER> 5759
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 805547380
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3394544
<TOTAL-LIABILITIES> 3394544
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 802150327
<SHARES-COMMON-STOCK> 802150327
<SHARES-COMMON-PRIOR> 378472288
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2509
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 802152836
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 32081863
<OTHER-INCOME> 0
<EXPENSES-NET> (3076150)
<NET-INVESTMENT-INCOME> 29005713
<REALIZED-GAINS-CURRENT> 296
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 29006009
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (29005713)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4463845267
<NUMBER-OF-SHARES-REDEEMED> (4040694000)
<SHARES-REINVESTED> 526772
<NET-CHANGE-IN-ASSETS> 423678335
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 2213
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2692214
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3076150
<AVERAGE-NET-ASSETS> 572811526
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .051
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.051)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .54
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000700844
<NAME> THE RODNEY SQUARE FUND
<SERIES>
<NUMBER> 02
<NAME> MONEY MARKET PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 1699247941
<INVESTMENTS-AT-VALUE> 1699247941
<RECEIVABLES> 10961673
<ASSETS-OTHER> 8140
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1710217754
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7483780
<TOTAL-LIABILITIES> 7483780
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1702763961
<SHARES-COMMON-STOCK> 1702763961
<SHARES-COMMON-PRIOR> 1191299545
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (29987)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1702733974
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 77760447
<OTHER-INCOME> 0
<EXPENSES-NET> (7338572)
<NET-INVESTMENT-INCOME> 70421875
<REALIZED-GAINS-CURRENT> (1150)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 70420725
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (70421875)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7518930203
<NUMBER-OF-SHARES-REDEEMED> (7013967395)
<SHARES-REINVESTED> 6501608
<NET-CHANGE-IN-ASSETS> 511463266
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (28837)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6392832
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7338572
<AVERAGE-NET-ASSETS> 1372500828
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .051
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.051)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .53
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
EXHIBIT INDEX
EXHIBIT A: Attachment to item 77B:
Accountant's report on internal control.
EXHIBIT B: Attachment to item 77Q1:
Copies of any material amendments to the registrant's charter and by-laws.
- -------------------------------------------------------------------------
EXHIBIT A
Report of Independent Auditors
Board of Trustees
The Rodney Square Fund
Wilmington, Delaware
In planning and performing our audit of the financial statements of The Rodney
Square Fund (the "Fund"), comprised of the U.S. Government and Money Market
Portfolios, for the year ended September 30, 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,
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 of the 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 operations, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above at
September 30, 1998.
This report is intended solely for the information and use of the Board of
Trustees and management of the Fund and the Securities and Exchange
Commission.
Ernst & Young LLP
November 6, 1998
EXHIBIT B:
The amended and restated by-laws dated August 17, 1998, are incorporated
herein by reference to Form N-1A filed November 25, 1998.