<PAGE> PAGE 1
000 B000000 04/30/94
000 C000000 830755
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 VISION FIDUCIARY FUNDS, INC.
001 B000000 811-5513
001 C000000 4122881229
002 A000000 FEDERATED INVESTORS TOWER
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 VISION FIDUCIARY 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
008 A00AA01 MANUFACTURERS & TRADERS TRUST COMPANY
008 B00AA01 A
008 C00AA01 801-0000
008 D01AA01 BUFFALO
008 D02AA01 NY
008 D03AA01 14240
010 A00AA01 FEDERATED ADMINISTRATIVE SERVICES
010 C01AA01 PITTSBURGH
010 C02AA01 PA
010 C03AA01 15222
011 A00AA01 FEDERATED SECURITIES CORP.
011 B00AA01 8-15561
011 C01AA01 PITTSBURGH
011 C02AA01 PA
011 C03AA01 15222
011 C04AA01 3779
<PAGE> PAGE 2
012 A00AA01 STATE STREET BANK AND TRUST COMPANY
012 B00AA01 84-896
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02266
012 C04AA01 8609
013 A00AA01 ERNST & YOUNG
013 B01AA01 PITTSBURGH
013 B02AA01 PA
013 B03AA01 15222
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
022 A000001 MORGAN STANLEY & CO., INC.
022 B000001 13-2655998
022 C000001 822606
022 D000001 3955
022 A000002 NOMURA SECURITIES INTERNATIONAL INC.
022 B000002 13-2642206
022 C000002 825147
022 D000002 0
022 A000003 FIRST BOSTON CORP.
022 B000003 13-5659485
022 C000003 495255
022 D000003 3971
022 A000004 LEHMAN BROTHERS INC.
022 B000004 13-2518466
022 C000004 295708
022 D000004 8097
022 A000005 STATE STREET BANK AND TRUST CO.
022 B000005 04-1866745
022 C000005 187181
022 D000005 0
022 A000006 KIDDER, PEABODY & CO., INC.
022 B000006 13-5650440
022 C000006 182752
022 D000006 0
022 A000007 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000007 13-5674085
022 C000007 116224
022 D000007 0
022 A000008 SALOMON BROTHERS, INC.
022 B000008 13-3082694
022 C000008 84154
022 D000008 0
022 A000009 GOLDMAN SACHS & CO.
022 B000009 13-5108880
022 C000009 53421
022 D000009 2195
022 A000010 DONALDSON, LUFKIN & JENRETTE SEC. CORP.
022 B000010 13-2741729
<PAGE> PAGE 3
022 C000010 20935
022 D000010 300
023 C000000 3282695
023 D000000 49387
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 N
026 E000000 Y
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
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
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 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
<PAGE> PAGE 4
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 N
054 A00AA00 N
054 B00AA00 N
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
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 0
070 A01AA00 Y
070 A02AA00 Y
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
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 N
<PAGE> PAGE 5
070 J02AA00 N
070 K01AA00 N
070 K02AA00 N
070 L01AA00 Y
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 N
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
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 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 THE AETNA CASUALTY AND SURETY COMPANY
080 B00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 115000
081 A00AA00 Y
081 B00AA00 90
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
<PAGE> PAGE 6
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
015 A000101 STATE STREET AND TRUST COMPANY
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
015 C030101 02266
015 C040101 8609
015 E010101 X
015 A000102 BANKERS TRUST CO.
015 B000102 S
015 C010102 NEW YORK
015 C020102 NY
015 C030102 10015
015 E010102 X
015 A000103 NATIONS BANK SERVICES INC.
015 B000103 S
015 C010103 PITTSBURGH
015 C020103 PA
015 C030103 15265
015 E010103 X
015 A000104 BANK OF NEW YORK
015 B000104 S
015 C010104 NEW YORK
015 C020104 NY
015 C030104 10006
015 E010104 X
015 A000105 PNC BANK, NA
015 B000105 S
015 C010105 PITTSBURGH
015 C020105 PA
015 C030105 15265
015 E010105 X
015 A000106 MORGAN GUARANTY BANK & TRUST CO.
015 B000106 S
015 C010106 NEW YORK
015 C020106 NY
015 C030106 10015
015 E010106 X
015 A000107 NATIONSBANK OF NORTH CAROLINA
015 B000107 S
015 C010107 CHARLOTTE
<PAGE> PAGE 7
015 C020107 NC
015 C030107 28255
015 E010107 X
024 000100 N
025 D000101 0
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 7423
028 A020100 0
028 A030100 0
028 A040100 8916
028 B010100 9217
028 B020100 0
028 B030100 0
028 B040100 10224
028 C010100 18940
028 C020100 0
028 C030100 0
028 C040100 22850
028 D010100 12409
028 D020100 0
028 D030100 0
028 D040100 11414
028 E010100 51192
028 E020100 0
028 E030100 0
028 E040100 50285
028 F010100 14759
028 F020100 0
028 F030100 0
028 F040100 14464
028 G010100 113940
028 G020100 0
028 G030100 0
028 G040100 118153
028 H000100 0
034 000100 N
035 000100 0
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 N
055 A000100 Y
055 B000100 N
056 000100 Y
<PAGE> PAGE 8
057 000100 N
062 A000100 Y
062 B000100 6.8
062 C000100 3.5
062 D000100 11.3
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 55.1
062 J000100 0.0
062 K000100 0.0
062 L000100 23.4
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 25
063 B000100 0.0
064 A000100 N
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 2992
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 0
072 G000100 138
072 H000100 0
072 I000100 20
072 J000100 55
072 K000100 0
072 L000100 4
072 M000100 9
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 13
072 S000100 6
072 T000100 0
<PAGE> PAGE 9
072 U000100 0
072 V000100 0
072 W000100 13
072 X000100 258
072 Y000100 0
072 Z000100 2734
072AA000100 0
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 2734
072DD020100 0
072EE000100 0
073 A010100 0.0300
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 1
074 B000100 9762
074 C000100 76909
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 183
074 M000100 0
074 N000100 86855
074 O000100 0
074 P000100 4
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 265
074 S000100 0
074 T000100 86586
074 U010100 86586
074 U020100 0
074 V010100 1.00
074 V020100 0.00
074 W000100 0.9993
074 X000100 4
074 Y000100 0
075 A000100 92155
075 B000100 0
076 000100 0.00
<PAGE> PAGE 10
SIGNATURE S. ELLIOTT COHAN
TITLE ASST. GEN. COUNSEL