<PAGE> PAGE 1
000 A000000 06/30/99
000 C000000 0000702435
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 FLEX-FUNDS
001 B000000 811-3462
001 C000000 6147667000
002 A000000 6000 MEMORIAL DRIVE
002 B000000 DUBLIN
002 C000000 OH
002 D010000 43017
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 5
007 C010100 1
007 C010200 2
007 C020200 THE HIGHLANDS GROWTH FUND
007 C030200 N
007 C010300 3
007 C010400 4
007 C020400 THE US GOVERNMENT BOND FUND
007 C030400 N
007 C010500 5
007 C020500 THE MONEY MARKET FUND
007 C030500 N
007 C010600 6
007 C020600 THE MUIRFIELD FUND
007 C030600 N
007 C010700 7
007 C010800 8
007 C020800 THE TOTAL RETURN UTILITIES FUND
007 C030800 N
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
<PAGE> PAGE 2
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
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
<PAGE> PAGE 3
007 C017100 71
007 C017200 72
007 C017300 73
007 C017400 74
007 C017500 75
007 C017600 76
007 C017700 77
007 C017800 78
007 C017900 79
007 C018000 80
010 A00AA01 MUTUAL FUNDS SERVICE CO.
010 B00AA01 84-1441
010 C01AA01 DUBLIN
010 C02AA01 OH
010 C03AA01 43017
012 A00AA01 MUTUAL FUNDS SERVICE CO.
012 B00AA01 84-1441
012 C01AA01 DUBLIN
012 C02AA01 OH
012 C03AA01 43017
013 A00AA01 KPMG LLP
013 B01AA01 COLUMBUS
013 B02AA01 OH
013 B03AA01 43215
014 A00AA01 ADVISOR DEALER SERVICES
014 B00AA01 8-47374
015 A00AA01 FIRSTAR BANK, N.A., CINCINNATI
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45202
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 10
019 C00AA00 FLEX-FUNDS
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 C000001 0
022 D000001 0
022 C000002 0
022 D000002 0
<PAGE> PAGE 4
022 C000003 0
022 D000003 0
022 C000004 0
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 0
023 D000000 0
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
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
<PAGE> PAGE 5
040 00AA00 Y
041 00AA00 Y
045 00AA00 N
048 00AA00 0.000
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
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 0
048 K02AA00 0.000
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 2500
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
<PAGE> PAGE 6
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 N
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 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 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 3200
081 A00AA00 Y
081 B00AA00 14
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
<PAGE> PAGE 7
086 F020000 0
028 A010100 0
028 A020100 0
028 A030100 0
028 A040100 0
028 B010100 0
028 B020100 0
028 B030100 0
028 B040100 0
028 C010100 0
028 C020100 0
028 C030100 0
028 C040100 0
028 D010100 0
028 D020100 0
028 D030100 0
028 D040100 0
028 E010100 0
028 E020100 0
028 E030100 0
028 E040100 0
028 F010100 0
028 F020100 0
028 F030100 0
028 F040100 0
028 G010100 0
028 G020100 0
028 G030100 0
028 G040100 0
028 H000100 0
008 A000201 R MEEDER & ASSOCIATES, INC.
008 B000201 A
008 C000201 801-9839
008 D010201 DUBLIN
008 D020201 OH
008 D030201 43017
008 A000202 SECTOR CAPITAL MANAGEMENT
008 B000202 S
008 C000202 801-48119
008 D010202 MEMPHIS
008 D020202 TN
008 D030202 38119
028 A010200 6380
028 A020200 0
028 A030200 0
028 A040200 5213
028 B010200 13385
028 B020200 0
028 B030200 0
028 B040200 15831
028 C010200 12577
<PAGE> PAGE 8
028 C020200 0
028 C030200 0
028 C040200 10248
028 D010200 7382
028 D020200 21
028 D030200 0
028 D040200 8869
028 E010200 8873
028 E020200 0
028 E030200 0
028 E040200 9172
028 F010200 9956
028 F020200 0
028 F030200 0
028 F040200 7091
028 G010200 58553
028 G020200 21
028 G030200 0
028 G040200 56424
028 H000200 0
042 A000200 8
042 B000200 27
042 C000200 0
042 D000200 56
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 9
043 000200 20
044 000200 0
070 A010200 N
070 A020200 N
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 N
070 J020200 N
070 K010200 Y
<PAGE> PAGE 9
070 K020200 Y
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 N
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 6
072 B000200 95
072 C000200 260
072 D000200 0
072 E000200 -265
072 F000200 0
072 G000200 12
072 H000200 0
072 I000200 23
072 J000200 0
072 K000200 4
072 L000200 6
072 M000200 0
072 N000200 13
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 2
072 S000200 1
072 T000200 28
072 U000200 0
072 V000200 0
072 W000200 5
072 X000200 94
072 Y000200 0
072 Z000200 -4
072AA000200 3204
072BB000200 0
072CC010200 3125
072CC020200 0
072DD010200 21
072DD020200 0
<PAGE> PAGE 10
072EE000200 0
073 A010200 0.0100
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 52275
074 J000200 0
074 K000200 0
074 L000200 169
074 M000200 26
074 N000200 52470
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 108
074 S000200 0
074 T000200 52362
074 U010200 2152
074 U020200 0
074 V010200 24.34
074 V020200 0.00
074 W000200 0.0000
074 X000200 1788
074 Y000200 0
075 A000200 0
075 B000200 47026
076 000200 0.00
008 A000401 R. MEEDER & ASSOCIATES
008 B000401 A
008 C000401 801-9839
008 D010401 DUBLIN
008 D020401 OH
008 D030401 43017
028 A010400 262
028 A020400 0
028 A030400 0
028 A040400 149
028 B010400 279
028 B020400 32
028 B030400 0
<PAGE> PAGE 11
028 B040400 121
028 C010400 253
028 C020400 30
028 C030400 0
028 C040400 59
028 D010400 290
028 D020400 35
028 D030400 0
028 D040400 267
028 E010400 103
028 E020400 36
028 E030400 0
028 E040400 41
028 F010400 149
028 F020400 34
028 F030400 0
028 F040400 136
028 G010400 1336
028 G020400 167
028 G030400 0
028 G040400 773
028 H000400 0
042 A000400 9
042 B000400 18
042 C000400 0
042 D000400 56
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 17
043 000400 8
044 000400 0
070 A010400 N
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 N
<PAGE> PAGE 12
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 N
070 N020400 N
070 O010400 N
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 0
071 B000400 0
071 C000400 0
071 D000400 0
072 A000400 6
072 B000400 273
072 C000400 0
072 D000400 0
072 E000400 -34
072 F000400 0
072 G000400 3
072 H000400 0
072 I000400 3
072 J000400 0
072 K000400 1
072 L000400 1
072 M000400 0
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 1
072 S000400 0
072 T000400 11
072 U000400 0
072 V000400 0
072 W000400 2
072 X000400 22
072 Y000400 0
072 Z000400 217
072AA000400 0
072BB000400 386
072CC010400 52
072CC020400 0
<PAGE> PAGE 13
072DD010400 217
072DD020400 0
072EE000400 0
073 A010400 0.4100
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 11730
074 J000400 0
074 K000400 0
074 L000400 10
074 M000400 13
074 N000400 11753
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 63
074 S000400 0
074 T000400 11690
074 U010400 544
074 U020400 0
074 V010400 21.49
074 V020400 0.00
074 W000400 0.0000
074 X000400 445
074 Y000400 0
075 A000400 0
075 B000400 11466
076 000400 0.00
008 A000501 R. MEEDER & ASSOCIATES, INC.
008 B000501 A
008 C000501 801-9839
008 D010501 DUBLIN
008 D020501 OH
008 D030501 43017
028 A010500 70407
028 A020500 0
028 A030500 0
028 A040500 29065
028 B010500 89373
<PAGE> PAGE 14
028 B020500 685
028 B030500 0
028 B040500 36885
028 C010500 40609
028 C020500 784
028 C030500 0
028 C040500 72009
028 D010500 71512
028 D020500 845
028 D030500 0
028 D040500 110372
028 E010500 31181
028 E020500 885
028 E030500 0
028 E040500 26085
028 F010500 28724
028 F020500 650
028 F030500 0
028 F040500 32839
028 G010500 331806
028 G020500 3849
028 G030500 0
028 G040500 307255
028 H000500 0
042 A000500 3
042 B000500 17
042 C000500 0
042 D000500 75
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 5
043 000500 65
044 000500 0
070 A010500 N
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
<PAGE> PAGE 15
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 0
071 B000500 0
071 C000500 0
071 D000500 0
072 A000500 6
072 B000500 4988
072 C000500 0
072 D000500 0
072 E000500 -177
072 F000500 0
072 G000500 49
072 H000500 0
072 I000500 64
072 J000500 0
072 K000500 10
072 L000500 20
072 M000500 0
072 N000500 11
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 1
072 S000500 1
072 T000500 79
072 U000500 0
072 V000500 0
072 W000500 3
072 X000500 238
072 Y000500 17
072 Z000500 4590
072AA000500 0
072BB000500 0
<PAGE> PAGE 16
072CC010500 0
072CC020500 0
072DD010500 4590
072DD020500 0
072EE000500 0
073 A010500 0.0230
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 0
074 D000500 0
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 183305
074 J000500 0
074 K000500 0
074 L000500 0
074 M000500 85
074 N000500 183390
074 O000500 0
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 735
074 S000500 0
074 T000500 182655
074 U010500 182655
074 U020500 0
074 V010500 1.00
074 V020500 0.00
074 W000500 0.9997
074 X000500 6775
074 Y000500 0
075 A000500 198756
075 B000500 0
076 000500 0.00
008 A000601 R. MEEDER & ASSOCIATES, INC.
008 B000601 A
008 C000601 801-9839
008 D010601 DUBLIN
008 D020601 OH
008 D030601 43017
028 A010600 4611
028 A020600 0
028 A030600 0
<PAGE> PAGE 17
028 A040600 5520
028 B010600 3502
028 B020600 0
028 B030600 0
028 B040600 2134
028 C010600 2591
028 C020600 0
028 C030600 0
028 C040600 2378
028 D010600 3923
028 D020600 182
028 D030600 0
028 D040600 3399
028 E010600 1676
028 E020600 0
028 E030600 0
028 E040600 2133
028 F010600 3073
028 F020600 0
028 F030600 0
028 F040600 503
028 G010600 19376
028 G020600 182
028 G030600 0
028 G040600 16067
028 H000600 0
042 A000600 29
042 B000600 10
042 C000600 0
042 D000600 58
042 E000600 0
042 F000600 0
042 G000600 0
042 H000600 3
043 000600 76
044 000600 0
070 A010600 N
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
<PAGE> PAGE 18
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 N
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 N
070 N020600 N
070 O010600 N
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 0
071 B000600 0
071 C000600 0
071 D000600 0
072 A000600 6
072 B000600 1319
072 C000600 90
072 D000600 0
072 E000600 -567
072 F000600 0
072 G000600 33
072 H000600 0
072 I000600 66
072 J000600 0
072 K000600 1
072 L000600 10
072 M000600 0
072 N000600 6
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 5
072 S000600 1
072 T000600 81
072 U000600 0
072 V000600 0
072 W000600 6
072 X000600 209
072 Y000600 0
072 Z000600 633
<PAGE> PAGE 19
072AA000600 28727
072BB000600 0
072CC010600 0
072CC020600 14538
072DD010600 558
072DD020600 0
072EE000600 0
073 A010600 0.0300
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 0
074 B000600 0
074 C000600 0
074 D000600 0
074 E000600 0
074 F000600 0
074 G000600 0
074 H000600 0
074 I000600 143627
074 J000600 0
074 K000600 0
074 L000600 2633
074 M000600 29
074 N000600 146289
074 O000600 0
074 P000600 0
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 2987
074 S000600 0
074 T000600 143302
074 U010600 18712
074 U020600 0
074 V010600 7.66
074 V020600 0.00
074 W000600 0.0000
074 X000600 2728
074 Y000600 0
075 A000600 0
075 B000600 133687
076 000600 0.00
008 A000801 R. MEEDER & ASSOCIATES, INC.
008 B000801 A
008 C000801 801-9839
008 D010801 DUBLIN
008 D020801 OH
008 D030801 43017
008 A000802 MILLER/HOWARD INVESTMENTS
<PAGE> PAGE 20
008 B000802 S
008 C000802 801-28170
008 D010802 WOODSTOCK
008 D020802 NY
008 D030802 12498
028 A010800 156
028 A020800 0
028 A030800 0
028 A040800 479
028 B010800 74
028 B020800 10
028 B030800 0
028 B040800 265
028 C010800 173
028 C020800 10
028 C030800 0
028 C040800 293
028 D010800 121
028 D020800 10
028 D030800 0
028 D040800 744
028 E010800 425
028 E020800 12
028 E030800 0
028 E040800 131
028 F010800 390
028 F020800 13
028 F030800 0
028 F040800 86
028 G010800 1339
028 G020800 55
028 G030800 0
028 G040800 1998
028 H000800 0
042 A000800 6
042 B000800 14
042 C000800 0
042 D000800 66
042 E000800 0
042 F000800 0
042 G000800 0
042 H000800 14
043 000800 11
044 000800 0
048 000800 0.000
048 A010800 0
048 A020800 0.000
048 B010800 0
048 B020800 0.000
048 C010800 0
048 C020800 0.000
<PAGE> PAGE 21
048 D010800 0
048 D020800 0.000
048 E010800 0
048 E020800 0.000
048 F010800 0
048 F020800 0.000
048 G010800 0
048 G020800 0.000
048 H010800 0
048 H020800 0.000
048 I010800 0
048 I020800 0.000
048 J010800 0
048 J020800 0.000
048 K010800 0
048 K020800 0.000
070 A010800 N
070 A020800 N
070 B010800 N
070 B020800 N
070 C010800 N
070 C020800 N
070 D010800 N
070 D020800 N
070 E010800 N
070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 N
070 G020800 N
070 H010800 N
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 N
070 J020800 N
070 K010800 Y
070 K020800 Y
070 L010800 N
070 L020800 N
070 M010800 N
070 M020800 N
070 N010800 N
070 N020800 N
070 O010800 N
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
<PAGE> PAGE 22
070 R020800 N
071 A000800 0
071 B000800 0
071 C000800 0
071 D000800 0
072 A000800 6
072 B000800 9
072 C000800 159
072 D000800 0
072 E000800 -65
072 F000800 0
072 G000800 3
072 H000800 0
072 I000800 5
072 J000800 0
072 K000800 2
072 L000800 2
072 M000800 0
072 N000800 7
072 O000800 0
072 P000800 0
072 Q000800 0
072 R000800 1
072 S000800 0
072 T000800 13
072 U000800 2
072 V000800 0
072 W000800 0
072 X000800 35
072 Y000800 8
072 Z000800 76
072AA000800 1588
072BB000800 0
072CC010800 0
072CC020800 441
072DD010800 69
072DD020800 0
072EE000800 0
073 A010800 0.1400
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 10934
<PAGE> PAGE 23
074 J000800 0
074 K000800 0
074 L000800 302
074 M000800 19
074 N000800 11255
074 O000800 0
074 P000800 0
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 250
074 S000800 0
074 T000800 11005
074 U010800 517
074 U020800 0
074 V010800 21.28
074 V020800 0.00
074 W000800 0.0000
074 X000800 664
074 Y000800 0
075 A000800 0
075 B000800 10257
076 000800 0.00
SIGNATURE BRUCE MCKIBBEN
TITLE MGR/FINANCIAL REPTG
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000702435
<NAME> THE FLEX-FUNDS
<SERIES>
<NUMBER> 006
<NAME> THE MUIRFIELD FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 136762819
<INVESTMENTS-AT-VALUE> 143627253
<RECEIVABLES> 2633087
<ASSETS-OTHER> 28704
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 146289044
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2986672
<TOTAL-LIABILITIES> 2986672
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 100892042
<SHARES-COMMON-STOCK> 18712372
<SHARES-COMMON-PRIOR> 18244445
<ACCUMULATED-NII-CURRENT> 76366
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 35469530
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6864434
<NET-ASSETS> 143302372
<DIVIDEND-INCOME> 89843
<INTEREST-INCOME> 1318522
<OTHER-INCOME> 0
<EXPENSES-NET> 775686
<NET-INVESTMENT-INCOME> 632679
<REALIZED-GAINS-CURRENT> 28727142
<APPREC-INCREASE-CURRENT> (14538065)
<NET-CHANGE-FROM-OPS> 14821756
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 557576
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2663003
<NUMBER-OF-SHARES-REDEEMED> 2220088
<SHARES-REINVESTED> 25012
<NET-CHANGE-IN-ASSETS> 17755079
<ACCUMULATED-NII-PRIOR> 1263
<ACCUMULATED-GAINS-PRIOR> 6742388
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 775686
<AVERAGE-NET-ASSETS> 133686824
<PER-SHARE-NAV-BEGIN> 6.88
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0.78
<PER-SHARE-DIVIDEND> 0.03
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.66
<EXPENSE-RATIO> 1.17
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000702435
<NAME> THE FLEX-FUNDS
<SERIES>
<NUMBER> 008
<NAME> THE TOTAL RETURN UTILITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 8860265
<INVESTMENTS-AT-VALUE> 10934198
<RECEIVABLES> 301463
<ASSETS-OTHER> 19032
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11254693
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 249283
<TOTAL-LIABILITIES> 249283
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7695619
<SHARES-COMMON-STOCK> 517263
<SHARES-COMMON-PRIOR> 549849
<ACCUMULATED-NII-CURRENT> 6821
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1229037
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2073933
<NET-ASSETS> 11005410
<DIVIDEND-INCOME> 158340
<INTEREST-INCOME> 9040
<OTHER-INCOME> 0
<EXPENSES-NET> 91592
<NET-INVESTMENT-INCOME> 75788
<REALIZED-GAINS-CURRENT> 1587978
<APPREC-INCREASE-CURRENT> (440688)
<NET-CHANGE-FROM-OPS> 1223078
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 68952
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 65794
<NUMBER-OF-SHARES-REDEEMED> 101146
<SHARES-REINVESTED> 2766
<NET-CHANGE-IN-ASSETS> 550760
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 15
<OVERDIST-NET-GAINS-PRIOR> 358941
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 99396
<AVERAGE-NET-ASSETS> 10257227
<PER-SHARE-NAV-BEGIN> 19.01
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> 2.26
<PER-SHARE-DIVIDEND> 0.14
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 21.28
<EXPENSE-RATIO> 1.80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000702435
<NAME> THE FLEX-FUNDS
<SERIES>
<NUMBER> 002
<NAME> THE HIGHLANDS GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 38993579
<INVESTMENTS-AT-VALUE> 52274576
<RECEIVABLES> 168957
<ASSETS-OTHER> 26204
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 52469737
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 108038
<TOTAL-LIABILITIES> 108038
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 34851941
<SHARES-COMMON-STOCK> 2151523
<SHARES-COMMON-PRIOR> 2068262
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 25250
<ACCUMULATED-NET-GAINS> 4254011
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 13280997
<NET-ASSETS> 52361699
<DIVIDEND-INCOME> 260556
<INTEREST-INCOME> 94614
<OTHER-INCOME> 0
<EXPENSES-NET> 359462
<NET-INVESTMENT-INCOME> (4292)
<REALIZED-GAINS-CURRENT> 3203644
<APPREC-INCREASE-CURRENT> 3125488
<NET-CHANGE-FROM-OPS> 6324840
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2599909
<NUMBER-OF-SHARES-REDEEMED> 2517583
<SHARES-REINVESTED> 935
<NET-CHANGE-IN-ASSETS> 8453955
<ACCUMULATED-NII-PRIOR> 131
<ACCUMULATED-GAINS-PRIOR> 1050367
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 359462
<AVERAGE-NET-ASSETS> 47025655
<PER-SHARE-NAV-BEGIN> 21.23
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 3.11
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 24.34
<EXPENSE-RATIO> 1.54
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000702435
<NAME> THE FLEX-FUNDS
<SERIES>
<NUMBER> 004
<NAME> THE U.S. GOVERNMENT BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 11734570
<INVESTMENTS-AT-VALUE> 11730484
<RECEIVABLES> 9995
<ASSETS-OTHER> 12962
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11753441
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 63543
<TOTAL-LIABILITIES> 63543
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11692691
<SHARES-COMMON-STOCK> 543916
<SHARES-COMMON-PRIOR> 510117
<ACCUMULATED-NII-CURRENT> 303678
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 302385
<ACCUM-APPREC-OR-DEPREC> (4086)
<NET-ASSETS> 11689898
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 272565
<OTHER-INCOME> 0
<EXPENSES-NET> 55998
<NET-INVESTMENT-INCOME> 216567
<REALIZED-GAINS-CURRENT> (386105)
<APPREC-INCREASE-CURRENT> 51772
<NET-CHANGE-FROM-OPS> (117766)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 216567
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 61788
<NUMBER-OF-SHARES-REDEEMED> 35705
<SHARES-REINVESTED> 7716
<NET-CHANGE-IN-ASSETS> 395891
<ACCUMULATED-NII-PRIOR> 151839
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 55998
<AVERAGE-NET-ASSETS> 11466122
<PER-SHARE-NAV-BEGIN> 22.14
<PER-SHARE-NII> 0.41
<PER-SHARE-GAIN-APPREC> (0.65)
<PER-SHARE-DIVIDEND> 0.41
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 21.49
<EXPENSE-RATIO> 0.99
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000702435
<NAME> THE FLEX-FUNDS
<SERIES>
<NUMBER> 005
<NAME> THE MONEY MARKET FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 183305649
<INVESTMENTS-AT-VALUE> 183305649
<RECEIVABLES> 0
<ASSETS-OTHER> 84454
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 183390103
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 734692
<TOTAL-LIABILITIES> 734692
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 182655411
<SHARES-COMMON-STOCK> 182655411
<SHARES-COMMON-PRIOR> 154255297
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 182655411
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4987874
<OTHER-INCOME> 0
<EXPENSES-NET> 397479
<NET-INVESTMENT-INCOME> 4590395
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4590395
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4590395
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 331806373
<NUMBER-OF-SHARES-REDEEMED> 307255401
<SHARES-REINVESTED> 3849142
<NET-CHANGE-IN-ASSETS> 28400114
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 414790
<AVERAGE-NET-ASSETS> 198755636
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.023
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.023
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.40
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>
</FN>
</TABLE>
