<PAGE> PAGE 1
000 B000000 10/31/95
000 C000000 0000798524
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 VLC TRUST
001 B000000 811-4788
001 C000000 4014211411
002 A000000 ONE REGENCY PLAZA, SUITE ONE
002 B000000 PROVIDENCE
002 C000000 RI
002 D010000 02903
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 OCEAN STATE TAX EXEMPT 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
020 A000001 PORTFOLIO CONSISTS OF MUNICIPAL BONDS ONLY.
020 C000001 0
020 A000002 NO COMMISSIONS PAID.
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 ROOSEVELT & CROSS
022 B000001 13-2728032
022 C000001 2779
022 D000001 230
<PAGE> PAGE 2
022 A000002 SMITH BARNEY
022 C000002 268
022 D000002 1196
022 A000003 OPPENHEIMER
022 C000003 627
022 D000003 506
022 A000004 CALLED BOND
022 C000004 0
022 D000004 1121
022 A000005 PAINE WEBBER
022 C000005 302
022 D000005 554
022 A000006 FIRST INSTITUTIONAL
022 C000006 308
022 D000006 302
022 A000007 DEAN WITTER
022 C000007 0
022 D000007 543
022 A000008 FLEET SECURITIES
022 C000008 398
022 D000008 0
022 A000009 COASTAL SECURITIES
022 C000009 257
022 D000009 0
022 A000010 STATE STREET
022 C000010 0
022 D000010 164
023 C000000 4939
023 D000000 4616
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
027 000000 Y
028 A01AA00 113
028 A02AA00 94
028 A03AA00 0
028 A04AA00 469
028 B01AA00 169
028 B02AA00 94
028 B03AA00 0
028 B04AA00 318
028 C01AA00 430
028 C02AA00 91
028 C03AA00 0
028 C04AA00 287
028 D01AA00 395
<PAGE> PAGE 3
028 D02AA00 90
028 D03AA00 0
028 D04AA00 85
028 E01AA00 81
028 E02AA00 93
028 E03AA00 0
028 E04AA00 233
028 F01AA00 248
028 F02AA00 89
028 F03AA00 0
028 F04AA00 584
028 G01AA00 1436
028 G02AA00 551
028 G03AA00 0
028 G04AA00 1976
028 H00AA00 1227
030 A00AA00 5
030 B00AA00 4.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 5
033 00AA00 2
035 00AA00 0
036 B00AA00 0
038 00AA00 0
042 A00AA00 0
042 B00AA00 100
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 6
044 00AA00 0
045 00AA00 Y
048 00AA00 0.000
048 A01AA00 200000
048 A02AA00 0.600
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
<PAGE> PAGE 4
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 200000
048 K02AA00 0.500
061 00AA00 0
062 A00AA00 Y
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 100.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 14.5
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
071 A00AA00 5008
071 B00AA00 4869
071 C00AA00 41356
071 D00AA00 12
072 A00AA00 12
072 B00AA00 2754
072 C00AA00 0
072 D00AA00 0
072 E00AA00 0
072 F00AA00 147
072 G00AA00 105
072 H00AA00 0
072 I00AA00 53
072 J00AA00 20
072 K00AA00 0
072 L00AA00 14
<PAGE> PAGE 5
072 M00AA00 20
072 N00AA00 1
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 0
072 R00AA00 26
072 S00AA00 16
072 T00AA00 0
072 U00AA00 0
072 V00AA00 0
072 W00AA00 10
072 X00AA00 412
072 Y00AA00 0
072 Z00AA00 2342
072AA00AA00 97
072BB00AA00 0
072CC01AA00 1903
072CC02AA00 0
072DD01AA00 2354
072DD02AA00 0
072EE00AA00 0
073 A01AA00 0.5800
073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 20
074 B00AA00 0
074 C00AA00 0
074 D00AA00 42700
074 E00AA00 0
074 F00AA00 0
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 0
074 K00AA00 0
074 L00AA00 652
074 M00AA00 0
074 N00AA00 43372
074 O00AA00 0
074 P00AA00 22
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 262
074 S00AA00 0
074 T00AA00 43088
074 U01AA00 4068
074 U02AA00 0
074 V01AA00 10.59
<PAGE> PAGE 6
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 1060
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 41864
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
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 C00AA00 0
081 B00AA00 0
082 B00AA00 0
083 B00AA00 0
084 B00AA00 0
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
SIGNATURE KEVIN M. OATES
TITLE TREASURER
