VOYAGEUR FUNDS INC
NSAR-B, 1997-12-30
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<PAGE>      PAGE  1
000 B000000 10/31/97
000 C000000 0000819799
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 VOYAGEUR FUNDS, INC.
001 B000000 811-5267
001 C000000 2152552926
002 A000000 2005 MARKET STREET
002 B000000 PHILADELPHIA
002 C000000 PA
002 D010000 19103
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  1
007 C010100  1
007 C020100 DELAWARE-VOYAGEUR US GOV'T SECURITIES 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
008 A00AA01 DELAWARE MANAGEMENT COMPANY, INC.
008 B00AA01 A
008 C00AA01 801-32108
008 D01AA01 PHILADELPHIA
008 D02AA01 PA
008 D03AA01 19103
011 A00AA01 DELAWARE DISTRIBUTORS, L.P.
011 B00AA01 8-29755
011 C01AA01 PHILADELPHIA
011 C02AA01 PA
011 C03AA01 19103
012 A00AA01 DELAWARE SERVICE COMPANY, INC.
012 B00AA01 84-1640
012 C01AA01 PHILADELPHIA
012 C02AA01 PA
012 C03AA01 19103
018  00AA00 Y
<PAGE>      PAGE  2
019 A00AA00 Y
019 B00AA00  100
019 C00AA00 DELAWARECX
022 A000001 MERRILL LYNCH
022 C000001     78804
022 D000001     73178
022 A000002 GOLDMAN SACHS
022 C000002     85931
022 D000002     44828
022 A000003 SALOMON BROTHERS
022 C000003     39431
022 D000003     55370
022 A000004 LEHMAN BROTHERS
022 C000004     26852
022 D000004     40145
022 A000005 MORGAN STANLEY
022 C000005     32712
022 D000005      7122
022 A000006 FIRST BOSTON
022 C000006     10837
022 D000006      7819
022 A000007 UNION BANK SWITZERLAND
022 C000007      9373
022 D000007      8184
022 A000008 JP MORGAN
022 C000008     12600
022 D000008         0
022 A000009 PRUDENTIAL SECURITIES
022 C000009      6107
022 D000009      6177
022 A000010 BEAR STEARNS
022 C000010         0
022 D000010      3617
023 C000000     307846
023 D000000     248843
024  00AA00 N
027  000000 Y
077 A000000 Y
077 B000000 Y
077 Q010000 Y
080 A00AA00 ICI MUTUAL INSURANCE COMPANY, INC.
080 B00AA00 GULF INSURANCE COMPANY
080 C00AA00    40000
081 A00AA00 Y
081 B00AA00 116
082 A00AA00 Y
082 B00AA00       50
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
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085 B00AA00 N
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030 C000100  0.00
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062 A000100 Y
062 B000100   0.0
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062 C000100   0.0
062 D000100   0.0
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  46.0
062 N000100  54.0
062 O000100   0.0
062 P000100   0.0
062 Q000100   0.0
062 R000100   0.0
063 A000100   0
063 B000100 20.0
071 A000100    234926
071 B000100    257716
071 C000100    114501
071 D000100  205
072 A000100 12
072 B000100     7663
072 C000100        0
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072 F000100      569
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072DD010100     6717
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072EE000100        0
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073 A020100   0.0000
073 B000100   0.0000
073 C000100   0.0000
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074 B000100        0
074 C000100        0
074 D000100   101679
074 E000100        0
074 F000100        0
074 G000100        0
074 H000100        0
074 I000100        0
074 J000100    21138
074 K000100        0
074 L000100     1156
074 M000100        0
074 N000100   124249
074 O000100    21009
074 P000100        0
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100     3044
074 S000100        0
074 T000100   100196
074 U010100     9451
074 U020100        0
074 V010100    10.60
074 V020100     0.00
074 W000100   0.0000
074 X000100     2003
074 Y000100        0
075 A000100        0
075 B000100   114501
076  000100     0.00
SIGNATURE   ROSEMARY E. MILNER                           
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000819799
<NAME> VOYAGEUR FUNDS, INC.
<SERIES>
   <NUMBER> 001
   <NAME> DELAWARE-VOYAGEUR U.S. GOV'T SECURITIES FUND A CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
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<PERIOD-END>                               OCT-31-1997
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<INVESTMENTS-AT-VALUE>                     101,678,810
<RECEIVABLES>                               22,294,517
<ASSETS-OTHER>                                 275,597
<OTHER-ITEMS-ASSETS>                                 0
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<SENIOR-EQUITY>                                 94,513
<PAID-IN-CAPITAL-COMMON>                   101,913,079
<SHARES-COMMON-STOCK>                        4,926,222
<SHARES-COMMON-PRIOR>                        6,319,211
<ACCUMULATED-NII-CURRENT>                       82,004
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (3,527,032)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,633,901
<NET-ASSETS>                                52,212,844
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            7,662,729
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,080,679
<NET-INVESTMENT-INCOME>                      6,582,050
<REALIZED-GAINS-CURRENT>                     3,015,506
<APPREC-INCREASE-CURRENT>                    (621,669)
<NET-CHANGE-FROM-OPS>                        8,975,887
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    3,691,516
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        726,443
<NUMBER-OF-SHARES-REDEEMED>                  2,371,057
<SHARES-REINVESTED>                            251,626
<NET-CHANGE-IN-ASSETS>                    (17,759,744)
<ACCUMULATED-NII-PRIOR>                        217,429
<ACCUMULATED-GAINS-PRIOR>                  (6,542,538)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          568,682
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,172,871
<AVERAGE-NET-ASSETS>                        62,730,140
<PER-SHARE-NAV-BEGIN>                           10.370
<PER-SHARE-NII>                                  0.590
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<PER-SHARE-DIVIDEND>                             0.600
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<PER-SHARE-NAV-END>                             10.600
<EXPENSE-RATIO>                                   0.93
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000819799
<NAME> VOYAGEUR FUNDS, INC.
<SERIES>
   <NUMBER> 002
   <NAME> DELAWARE-VOYAGEUR U.S. GOV'T SECURITIES FUND B CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          OCT-31-1997
<PERIOD-END>                               OCT-31-1997
<INVESTMENTS-AT-COST>                      100,044,909
<INVESTMENTS-AT-VALUE>                     101,678,810
<RECEIVABLES>                               22,294,517
<ASSETS-OTHER>                                 275,597
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             124,248,924
<PAYABLE-FOR-SECURITIES>                    21,008,752
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,043,707
<TOTAL-LIABILITIES>                         24,052,459
<SENIOR-EQUITY>                                 94,513
<PAID-IN-CAPITAL-COMMON>                   101,913,079
<SHARES-COMMON-STOCK>                          212,656
<SHARES-COMMON-PRIOR>                          206,126
<ACCUMULATED-NII-CURRENT>                       82,004
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (3,527,032)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,633,901
<NET-ASSETS>                                 2,256,609
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            7,662,729
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,080,679
<NET-INVESTMENT-INCOME>                      6,582,050
<REALIZED-GAINS-CURRENT>                     3,015,506
<APPREC-INCREASE-CURRENT>                    (621,669)
<NET-CHANGE-FROM-OPS>                        8,975,887
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      117,294
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         56,888
<NUMBER-OF-SHARES-REDEEMED>                     55,886
<SHARES-REINVESTED>                              5,528
<NET-CHANGE-IN-ASSETS>                    (17,759,744)
<ACCUMULATED-NII-PRIOR>                        217,429
<ACCUMULATED-GAINS-PRIOR>                  (6,542,538)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          568,682
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,172,871
<AVERAGE-NET-ASSETS>                         2,295,805
<PER-SHARE-NAV-BEGIN>                           10.380
<PER-SHARE-NII>                                  0.520
<PER-SHARE-GAIN-APPREC>                          0.240
<PER-SHARE-DIVIDEND>                             0.530
<PER-SHARE-DISTRIBUTIONS>                        0.000
<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                             10.610
<EXPENSE-RATIO>                                  1.670
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000819799
<NAME> VOYAGEUR FUNDS, INC.
<SERIES>
   <NUMBER> 003
   <NAME> DELAWARE-VOYAGEUR U.S. GOV'T SECURITIES FUND C LASS
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          OCT-31-1997
<PERIOD-END>                               OCT-31-1997
<INVESTMENTS-AT-COST>                      100,044,909
<INVESTMENTS-AT-VALUE>                     101,678,810
<RECEIVABLES>                               22,294,517
<ASSETS-OTHER>                                 275,597
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             124,248,924
<PAYABLE-FOR-SECURITIES>                    21,008,752
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,043,707
<TOTAL-LIABILITIES>                         24,052,459
<SENIOR-EQUITY>                                 94,513
<PAID-IN-CAPITAL-COMMON>                   101,913,079
<SHARES-COMMON-STOCK>                           13,022
<SHARES-COMMON-PRIOR>                           22,631
<ACCUMULATED-NII-CURRENT>                       82,004
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (3,527,032)
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                   137,918
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            7,662,729
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,080,679
<NET-INVESTMENT-INCOME>                      6,582,050
<REALIZED-GAINS-CURRENT>                     3,015,506
<APPREC-INCREASE-CURRENT>                    (621,669)
<NET-CHANGE-FROM-OPS>                        8,975,887
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       10,330
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            527
<NUMBER-OF-SHARES-REDEEMED>                     10,563
<SHARES-REINVESTED>                                427
<NET-CHANGE-IN-ASSETS>                    (17,759,744)
<ACCUMULATED-NII-PRIOR>                        217,429
<ACCUMULATED-GAINS-PRIOR>                  (6,542,538)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          568,682
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,172,871
<AVERAGE-NET-ASSETS>                           199,012
<PER-SHARE-NAV-BEGIN>                           10.360
<PER-SHARE-NII>                                  0.520
<PER-SHARE-GAIN-APPREC>                          0.240
<PER-SHARE-DIVIDEND>                             0.530
<PER-SHARE-DISTRIBUTIONS>                        0.000
<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                             10.590
<EXPENSE-RATIO>                                  1.680
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000819799
<NAME> VOYAGEUR FUNDS, INC.
<SERIES>
   <NUMBER> 004
   <NAME> DELAWARE-VOYAGEUR U.S. GOV'T SECURITIES INSTL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          OCT-31-1997
<PERIOD-END>                               OCT-31-1997
<INVESTMENTS-AT-COST>                      100,044,909
<INVESTMENTS-AT-VALUE>                     101,678,810
<RECEIVABLES>                               22,294,517
<ASSETS-OTHER>                                 275,597
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             124,248,924
<PAYABLE-FOR-SECURITIES>                    21,008,752
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,043,707
<TOTAL-LIABILITIES>                         24,052,459
<SENIOR-EQUITY>                                 94,513
<PAID-IN-CAPITAL-COMMON>                   101,913,079
<SHARES-COMMON-STOCK>                        4,299,490
<SHARES-COMMON-PRIOR>                        4,826,688
<ACCUMULATED-NII-CURRENT>                       82,004
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (3,527,032)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,633,901
<NET-ASSETS>                                45,589,094   
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            7,662,729
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,080,679
<NET-INVESTMENT-INCOME>                      6,582,050
<REALIZED-GAINS-CURRENT>                     3,015,506
<APPREC-INCREASE-CURRENT>                    (621,669)
<NET-CHANGE-FROM-OPS>                        8,975,887
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    2,898,335
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,286,857
<NUMBER-OF-SHARES-REDEEMED>                  2,030,915
<SHARES-REINVESTED>                            216,860
<NET-CHANGE-IN-ASSETS>                    (17,759,744)
<ACCUMULATED-NII-PRIOR>                        217,429
<ACCUMULATED-GAINS-PRIOR>                  (6,542,538)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          568,682
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,172,871
<AVERAGE-NET-ASSETS>                        49,276,276
<PER-SHARE-NAV-BEGIN>                           10.370
<PER-SHARE-NII>                                  0.600
<PER-SHARE-GAIN-APPREC>                          0.240
<PER-SHARE-DIVIDEND>                             0.610
<PER-SHARE-DISTRIBUTIONS>                        0.000
<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                             10.600
<EXPENSE-RATIO>                                  0.930
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

                     Report of Independent Auditors


To the Shareholders and Board of Directors 
Delaware - Voyageur U.S. Government Securities Fund

In planning and performing our audit of the financial
statements
of Delaware - Voyageur U.S. Government Securities Fund, (the
Fund) for the year ended October 31, 1997, 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
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 one or more of
the
internal control components 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 and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as
defined
above at October 31, 1997.

This report is intended solely for the information and use of
the
board of directors and management of Delaware - Voyageur U.S.
Government Securities Fund and the Securities and Exchange
Commission.


December 4, 1997


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