<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
050 000200 N
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
074 H000300 0
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008 A000401 MANUFACTURERS AND TRADERS TRUST COMPANY
008 B000401 A
008 C000401 801-0000
008 D010401 BUFFALO
008 D020401 NY
008 D030401 14240
015 A000401 STATE STREET BANK AND TRUST COMPANY
015 B000401 C
015 C010401 BOSTON
015 C020401 MA
015 C030401 02103
015 E010401 X
015 A000402 BANKERS TRUST CO.
015 B000402 S
015 C010402 NEW YORK
015 C020402 NY
015 C030402 10015
015 E010402 X
015 A000403 BANK OF NEW YORK
015 B000403 S
015 C010403 NEW YORK
015 C020403 NY
015 C030403 10006
015 E010403 X
015 A000404 THE CHASE MANHATTAN CORPORATION
<PAGE> PAGE 22
015 B000404 S
015 C010404 NEW YORK
015 C020404 NY
015 C030404 10006
015 E010404 X
015 A000405 NATIONSBANK OF NORTH CAROLINA
015 B000405 S
015 C010405 CHARLOTTE
015 C020405 NC
015 C030405 28255
015 E010405 X
015 A000406 PNC BANK, NA
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015 C010406 PITTSBURGH
015 C020406 PA
015 C030406 15265
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<PAGE> PAGE 23
028 G020400 492
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029 000400 Y
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038 000400 0
039 000400 N
040 000400 Y
041 000400 N
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046 000400 N
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048 I020400 0.000
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048 J020400 0.000
<PAGE> PAGE 24
048 K010400 0
048 K020400 0.000
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 Y
053 B000400 Y
053 C000400 N
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
058 A000400 N
059 000400 Y
060 A000400 N
060 B000400 N
061 000400 500
062 A000400 Y
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064 A000400 Y
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 Y
070 C020400 N
<PAGE> PAGE 25
070 D010400 N
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 Y
070 R020400 N
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071 B000400 10560
071 C000400 36414
071 D000400 29
072 A000400 6
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<PAGE> PAGE 26
072 R000400 7
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<PAGE> PAGE 27
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008 A000501 MANUFACTURERS AND TRADERS TRUST COMPANY
008 B000501 A
008 C000501 801-0000
008 D010501 BUFFALO
008 D020501 NY
008 D030501 14240
015 A000501 STATE STREET BANK AND TRUST COMPANY
015 B000501 C
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015 C020501 MA
015 C030501 02266
015 C040501 8609
015 E010501 X
015 A000502 PNC BANK, NA
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015 C010503 CHARLOTTE
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015 C020504 VA
015 C030504 23261
015 E010504 X
015 A000505 MORGAN GUARANTY BANK & TRUST CO.
015 B000505 S
015 C010505 NEW YORK
015 C020505 NY
015 C030505 10015
015 E010505 X
015 A000506 CHASE MANHATTAN CORPORATION
015 B000506 S
015 C010506 NEW YORK
015 C020506 NY
015 C030506 10006
015 E010506 X
015 A000507 BANK OF NEW YORK
015 B000507 S
015 C010507 NEW YORK
015 C020507 NY
015 C030507 10006
015 E010507 X
<PAGE> PAGE 28
015 A000508 BANKERS TRUST CO.
015 B000508 S
015 C010508 NEW YORK
015 C020508 NY
015 C030508 10015
015 E010508 X
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030 B000500 4.50
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<PAGE> PAGE 29
033 000500 0
037 000500 N
038 000500 0
039 000500 N
040 000500 Y
041 000500 N
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048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
055 A000500 N
055 B000500 N
<PAGE> PAGE 30
056 000500 Y
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 500
062 A000500 Y
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062 M000500 15.0
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062 P000500 4.9
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063 B000500 8.5
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064 B000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 N
070 B020500 N
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070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
<PAGE> PAGE 31
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 Y
070 R020500 N
071 A000500 23462
071 B000500 15345
071 C000500 47953
071 D000500 32
072 A000500 6
072 B000500 1855
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072 Z000500 1586
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<PAGE> PAGE 32
072CC010500 1530
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008 A000601 MANUFACTURERS AND TRADERS TRUST COMPANY
008 B000601 A
008 C000601 801-0000
008 D010601 BUFFALO
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008 D030601 14240
015 A000601 STATE STREET BANK AND TRUST COMPANY
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<PAGE> PAGE 33
015 C020601 MA
015 C030601 02266
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015 A000602 PNC BANK, NA
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015 A000604 THE CHASE MANHATTAN CORPORATION
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015 C010604 NEW YORK
015 C020604 NY
015 C030604 10006
015 E010604 X
015 A000605 BANKERS TRUST CO.
015 B000605 S
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015 C020605 NY
015 C030605 10015
015 E010605 X
015 A000606 BANK OF NEW YORK
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015 C010606 NEW YORK
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015 C030606 10006
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<PAGE> PAGE 34
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<PAGE> PAGE 35
048 B020600 0.000
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050 000600 N
051 000600 N
052 000600 N
053 A000600 N
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059 000600 Y
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<PAGE> PAGE 36
063 A000600 0
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070 Q020600 N
070 R010600 Y
070 R020600 N
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<PAGE> PAGE 37
071 C000600 128650
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<PAGE> PAGE 38
074 M000600 2
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008 A000701 MANUFACTURERS AND TRADERS TRUST COMPANY
008 B000701 A
008 C000701 801-0000
008 D010701 BUFFALO
008 D020701 NY
008 D030701 14240
015 A000701 STATE STREET BANK AND TRUST COMPANY
015 B000701 C
015 C010701 BOSTON
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015 C030701 02103
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015 A000702 CHASE MANHATTAN BANK
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015 C010702 NEW YORK
015 C020702 NY
015 C030702 10006
015 E010702 X
015 A000703 BANK OF NEW YORK
015 B000703 S
015 C010703 NEW YORK
015 C020703 NY
015 C030703 10006
015 E010703 X
015 A000704 BANKERS TRUST CO.
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015 C010704 NEW YORK
015 C020704 NY
015 C030704 10015
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<PAGE> PAGE 39
015 A000705 U.S. TRUST CO.
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015 C010705 NEW YORK
015 C020705 NY
015 C030705 10036
015 E010705 X
015 A000706 STATE STREET BANK & TRUST CO.
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015 C020706 MA
015 C030706 02101
015 E010706 X
015 A000707 SECURITY PACIFIC NATIONAL TRUST CO.
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015 C020707 NY
015 C030707 10006
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015 A000708 PNC BANK, NA
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015 C030708 15265
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015 C030709 28255
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015 C010710 RICHMOND
015 C020710 VA
015 C030710 23261
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015 A000711 MORGAN GUARANTY BANK & TRUST CO.
015 B000711 S
015 C010711 NEW YORK
015 C020711 NY
015 C030711 10015
015 E010711 X
015 A000712 MARINE MIDLAND BANK
015 B000712 S
015 C010712 NEW YORK
015 C020712 NY
015 C030712 10015
015 E010712 X
015 A000713 CITIZENS & SOUTHERN NATIONAL BANK
015 B000713 S
015 C010713 ATLANTA
<PAGE> PAGE 40
015 C020713 GA
015 C030713 30399
015 E010713 X
024 000700 Y
025 A000701 BEAR STEARNS
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025 D000701 1536
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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008 A000801 MANUFACTURERS AND TRADERS TRUST COMPANY
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<PAGE> PAGE 45
008 D020801 NY
008 D030801 14240
015 A000801 STATE STREET BANK AND TRUST COMPANY
015 B000801 C
015 C010801 BOSTON
015 C020801 MA
015 C030801 02266
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015 E010801 X
024 000800 Y
025 A000801 ALEX BROWN
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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SIGNATURE S. ELLIOTT COHAN
TITLE ASST. GEN. COUNSEL
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 07
<NAME> Vision Group of Funds, Inc.
Vision Capital Appreciation Fund
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<PERIOD-END> Oct-31-1997
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 06
<NAME> Vision Group of Funds, Inc.
Vision Growth and Income Fund
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<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,287,446
<NET-ASSETS> 132,813,924
<DIVIDEND-INCOME> 1,027,946
<INTEREST-INCOME> 87,737
<OTHER-INCOME> 0
<EXPENSES-NET> 825,954
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<REALIZED-GAINS-CURRENT> 6,126,931
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<NET-CHANGE-FROM-OPS> 27,150,133
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<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 974,142
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<ACCUMULATED-NII-PRIOR> 109,394
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 15.110
<PER-SHARE-NII> 0.040
<PER-SHARE-GAIN-APPREC> 3.410
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 01
<NAME> Vision Group of Funds, Inc.
Vision Money Market Fund
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<FISCAL-YEAR-END> Apr-30-1998
<PERIOD-END> Oct-31-1997
<INVESTMENTS-AT-COST> 626,275,438
<INVESTMENTS-AT-VALUE> 626,275,438
<RECEIVABLES> 164,119
<ASSETS-OTHER> 231
<OTHER-ITEMS-ASSETS> 0
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<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,720,778
<TOTAL-LIABILITIES> 2,720,778
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 623,719,010
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<SHARES-COMMON-PRIOR> 599,817,242
<ACCUMULATED-NII-CURRENT> 0
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<NUMBER-OF-SHARES-SOLD> 8,268,177,200
<NUMBER-OF-SHARES-REDEEMED> 8,249,889,929
<SHARES-REINVESTED> 5,614,497
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,529,700
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<GROSS-EXPENSE> 2,140,428
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 04
<NAME> Vision Group of Funds, Inc.
Vision New York Municipal Income Fund
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Apr-30-1998
<PERIOD-END> Oct-31-1997
<INVESTMENTS-AT-COST> 36,845,492
<INVESTMENTS-AT-VALUE> 38,123,026
<RECEIVABLES> 885,042
<ASSETS-OTHER> 743,530
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<TOTAL-ASSETS> 39,751,598
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<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 148,740
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 38,163,208
<SHARES-COMMON-STOCK> 3,781,355
<SHARES-COMMON-PRIOR> 3,518,501
<ACCUMULATED-NII-CURRENT> 2,640
<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,277,534
<NET-ASSETS> 39,602,858
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,016,095
<OTHER-INCOME> 0
<EXPENSES-NET> 195,992
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<NET-CHANGE-FROM-OPS> 2,231,658
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<DISTRIBUTIONS-OF-INCOME> 820,103
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<NET-CHANGE-IN-ASSETS> 4,123,073
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 03
<NAME> Vision Group of Funds, Inc.
Vision New York Tax-Free Money Market Fund
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Apr-30-1998
<PERIOD-END> Oct-31-1997
<INVESTMENTS-AT-COST> 81,884,409
<INVESTMENTS-AT-VALUE> 81,884,409
<RECEIVABLES> 348,604
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<SHARES-COMMON-PRIOR> 56,617,940
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<TABLE> <S> <C>
<S> <C>
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<NUMBER> 02
<NAME> Vision Group of Funds, Inc.
Vision Treasury Money Market Fund
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<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 05
<NAME> Vision Group of Funds, Inc.
Vision U.S. Government Securities Fund
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<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 08
<NAME> Vision Group of Funds, Inc.
Vision Equity Income Fund
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