<PAGE> PAGE 1
000 B000000 09/30/98
000 C000000 0000798290
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 REPUBLIC FUNDS
001 B000000 811-4782
001 C000000 6144708000
002 A000000 3435 STELZER ROAD
002 B000000 COLUMBUS
002 C000000 OH
002 D010000 43219
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 REPUBLIC U.S. GOVERNMENT MONEY MARKET 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
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
007 C012500 25
007 C012600 26
007 C012700 27
<PAGE> PAGE 2
007 C012800 28
007 C012900 29
007 C013000 30
008 A00AA01 REPUBLIC NATIONAL BANK OF NEW YORK
008 B00AA01 A
008 C00AA01 801-0
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10018
010 A00AA01 BISYS FUND SERVICES, INC.
010 C01AA01 COLUMBUS
010 C02AA01 OH
010 C03AA01 43219
011 A00AA01 BISYS FUND SERVICES, INC.
011 B00AA01 8-00000
011 C01AA01 COLUMBUS
011 C02AA01 OH
011 C03AA01 43219
012 A00AA01 REPUBLIC NATIONAL BANK OF NEW YORK
012 B00AA01 85-00
012 C01AA01 NEW YORK
012 C02AA01 NY
012 C03AA01 10018
012 A00AA02 INVESTORS BANK AND TRUST COMPANY
012 B00AA02 85-00
012 C01AA02 BOSTON
012 C02AA02 MA
012 C03AA02 02116
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
015 A00AA01 REPUBLIC NATIONAL BANK OF NEW YORK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10018
015 E03AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 16
019 C00AA00 REPUBLICFU
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
<PAGE> PAGE 3
020 C000010 0
021 000000 0
022 A000001 WEIRTHIEM
022 B000001 900034
022 C000001 8615933
022 D000001 0
022 A000002 UBS SECURITIES
022 B000002 000542
022 C000002 8044536
022 D000002 48980
022 A000003 CANTOR FITZGERALD & CO INC
022 B000003 000696
022 C000003 7991978
022 D000003 0
022 A000004 FIRST UNION
022 B000004 002273
022 C000004 5064000
022 D000004 0
022 A000005 B.Z.W. SECURITIES
022 B000005 000002
022 C000005 2302449
022 D000005 9864
022 A000006 COMMERZ BANK AGENCY STERNBURGE
022 B000006 900204
022 C000006 2235540
022 D000006 0
022 A000007 CITIBANK, NEW YORK
022 B000007 997252
022 C000007 1445443
022 D000007 43893
022 A000008 FIRST BOSTON
022 B000008 000355
022 C000008 1433461
022 D000008 0
022 A000009 EASTBRIDGE CAPITAL
022 B000009 996988
022 C000009 1315140
022 D000009 0
022 A000010 PERISHING DIVISION OF DLJ
022 B000010 000443
022 C000010 1107946
022 D000010 160237
023 C000000 43354744
023 D000000 469521
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
<PAGE> PAGE 4
025 D00AA07 0
025 D00AA08 0
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
028 A01AA00 148365
028 A02AA00 3064
028 A03AA00 0
028 A04AA00 181282
028 B01AA00 316875
028 B02AA00 3017
028 B03AA00 0
028 B04AA00 276441
028 C01AA00 290929
028 C02AA00 3164
028 C03AA00 0
028 C04AA00 207762
028 D01AA00 318587
028 D02AA00 3420
028 D03AA00 0
028 D04AA00 268020
028 E01AA00 167901
028 E02AA00 3477
028 E03AA00 0
028 E04AA00 158026
028 F01AA00 161463
028 F02AA00 3655
028 F03AA00 0
028 F04AA00 134701
028 G01AA00 1404120
028 G02AA00 19797
028 G03AA00 0
028 G04AA00 1226232
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
<PAGE> PAGE 5
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 0
042 D00AA00 100
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 1855
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.200
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
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 N
054 B00AA00 N
<PAGE> PAGE 6
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 Y
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
062 A00AA00 Y
062 B00AA00 52.2
062 C00AA00 18.9
062 D00AA00 24.6
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 5.4
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 1.0
063 A00AA00 51
063 B00AA00 0.0
064 A00AA00 N
064 B00AA00 N
070 A01AA00 Y
070 A02AA00 Y
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
<PAGE> PAGE 7
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 N
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
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
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
086 A010000 0
086 A020000 0
<PAGE> PAGE 8
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
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 12
072 B000100 41428
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 1535
072 G000100 767
072 H000100 0
072 I000100 39
072 J000100 151
072 K000100 0
072 L000100 38
072 M000100 9
072 N000100 74
072 O000100 0
072 P000100 0
072 Q000100 43
072 R000100 18
072 S000100 110
072 T000100 1855
072 U000100 0
072 V000100 0
072 W000100 62
072 X000100 4701
072 Y000100 767
072 Z000100 37494
072AA000100 61
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 36222
072DD020100 1303
<PAGE> PAGE 9
072EE000100 0
073 A010100 0.0480
073 A020100 0.0580
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 250389
074 C000100 778894
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 3074
074 M000100 0
074 N000100 1032357
074 O000100 10000
074 P000100 1055
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 3930
074 S000100 0
074 T000100 1017372
074 U010100 988349
074 U020100 29023
074 V010100 1.00
074 V020100 1.00
074 W000100 1.0001
074 X000100 24484
074 Y000100 0
075 A000100 765049
075 B000100 0
076 000100 0.00
080 A000100 FRANK CRYSTAL & CO., INC.
080 C000100 2775
081 A000100 Y
081 B000100 12
082 A000100 N
082 B000100 0
083 A000100 N
083 B000100 0
084 A000100 N
084 B000100 0
085 A000100 Y
085 B000100 N
<PAGE> PAGE 10
SIGNATURE SEAMUS MURTAGH
TITLE FINANCIAL ANALYST
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000798290
<NAME> REPUBLIC FUNDS
<SERIES>
<NUMBER> 011
<NAME> REPUBLIC U.S. GOVERNMENT MONEY MARKET FUND -CLASS A (INVESTO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> OCT-01-1997
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 821703737
<INVESTMENTS-AT-VALUE> 821703737
<RECEIVABLES> 2757767
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 824461504
<PAYABLE-FOR-SECURITIES> 1000000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3802403
<TOTAL-LIABILITIES> 4802403
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 819613180
<SHARES-COMMON-STOCK> 756931052
<SHARES-COMMON-PRIOR> 505579450
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 45921
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 819659101
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 16975194
<OTHER-INCOME> 0
<EXPENSES-NET> 1646402
<NET-INVESTMENT-INCOME> 15328792
<REALIZED-GAINS-CURRENT> 32641
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 15361433
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 14832882
<DISTRIBUTIONS-OF-GAINS> 101952
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1178491185
<NUMBER-OF-SHARES-REDEEMED> 893774225
<SHARES-REINVESTED> 13163404
<NET-CHANGE-IN-ASSETS> 297776398
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 149887
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 625405
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1959095
<AVERAGE-NET-ASSETS> 763950012<F1>
<PER-SHARE-NAV-BEGIN> 1<F1>
<PER-SHARE-NII> 0.024<F1>
<PER-SHARE-GAIN-APPREC> 0.000<F1>
<PER-SHARE-DIVIDEND> 0.024<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1
<EXPENSE-RATIO> 0.53<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>CLASS A SHARES,(INVESTORS SHARE)
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000798290
<NAME> REPUBLIC US GOVERNMENT MONEY MARKET FUND CLASS Y
<SERIES>
<NUMBER> 012
<NAME> REPUBLIC US GOVERNMENT MONEY MARKET FUND CLASS Y
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> OCT-01-1997
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 1029282910
<INVESTMENTS-AT-VALUE> 1029282910
<RECEIVABLES> 3074263
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1032357173
<PAYABLE-FOR-SECURITIES> 10000000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4984896
<TOTAL-LIABILITIES> 14984896
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1017298061
<SHARES-COMMON-STOCK> 29023014
<SHARES-COMMON-PRIOR> 16177136
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 74216
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1017372277
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 41428152
<OTHER-INCOME> 0
<EXPENSES-NET> 3933494
<NET-INVESTMENT-INCOME> 37494658
<REALIZED-GAINS-CURRENT> 60937
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 37555595
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1303322
<DISTRIBUTIONS-OF-GAINS> 3282
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2582611123
<NUMBER-OF-SHARES-REDEEMED> 2120005796
<SHARES-REINVESTED> 32959918
<NET-CHANGE-IN-ASSETS> 495489574
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 149887
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1534571
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4700769
<AVERAGE-NET-ASSETS> 25328183
<PER-SHARE-NAV-BEGIN> 1
<PER-SHARE-NII> 0.058
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.058
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1
<EXPENSE-RATIO> 0.27
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000798290
<NAME> REPUBLIC US GOVERNMENT MONEY MARKET FUND CLASS B
<SERIES>
<NUMBER> 013
<NAME> REPUBLIC US GOVERNMENT MONEY MARKET FUND CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> OCT-01-1997
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 1029282910
<INVESTMENTS-AT-VALUE> 1029282910
<RECEIVABLES> 3074263
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1032357173
<PAYABLE-FOR-SECURITIES> 10000000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4984896
<TOTAL-LIABILITIES> 14984896
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1017298061
<SHARES-COMMON-STOCK> 112752
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 74216
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1017372277
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 41428152
<OTHER-INCOME> 0
<EXPENSES-NET> 3933494
<NET-INVESTMENT-INCOME> 37494658
<REALIZED-GAINS-CURRENT> 60937
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 37555595
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 246
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2582611123
<NUMBER-OF-SHARES-REDEEMED> 2120005796
<SHARES-REINVESTED> 32959918
<NET-CHANGE-IN-ASSETS> 495489574
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 149887
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1534571
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4700769
<AVERAGE-NET-ASSETS> 68421
<PER-SHARE-NAV-BEGIN> 1
<PER-SHARE-NII> 0.003
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.003
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1
<EXPENSE-RATIO> 1.27
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
To the Board of Trustees
Republic Funds
In planning and performing our audit of the financial statements of Republic
U.S. Government Money Market Fund (the "Fund") at September 30, 1998 and for
the year then ended, we considered its internal control, including procedures
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 benefit 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 irregularities
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 any
specific internal control component 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
internal control, including controls over safeguarding securities, that we
consider to be material weaknesses as defined above as of September 30, 1998.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
KPMG Peat Marwick LLP
Boston, Massachusetts
November 19, 1998
