<PAGE> PAGE 1
000 A000000
000 B000000 08/31/96
000 C000000 0000865441
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 VKAC GOVERNMENT TARGET FUND
001 B000000 811-06127
001 C000000 630846000
002 A000000 ONE PARKVIEW PLAZA
002 B000000 OAKBROOK TERRACE
002 C000000 IL
002 D010000 60181
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
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 A000001 VAN KAMPEN AMERICAN CAPITAL ASSET MGT., INC.
008 B000001 A
008 C000001 801-8286
008 D010001 OAKBROOK TERRACE
008 D020001 IL
008 D030001 60181
011 A000001 VAN KAMPEN AMERICAN CAPITAL DISTRIBUTORS, INC
011 B000001 8-19903
011 C010001 OAKBROOK TERRACE
011 C020001 IL
011 C030001 60181
012 A000001 ACCESS INVESTOR SERVICES, INC.
012 B000001 84-01621
012 C010001 KANSAS CITY
012 C020001 MO
012 C030001 64141
012 C040001 9256
013 A000001 PRICE WATERHOUSE, LLP
<PAGE> PAGE 2
013 B010001 HOUSTON
013 B020001 TX
013 B030001 77002
015 A000001 STATE STREET BANK & TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 101
019 C000000 VANKAMPENA
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
020 C000010 0
021 000000 0
022 A000001 SBC CAPITAL MARKETS INC
022 B000001 13-2639550
022 C000001 282295
022 D000001 0
022 A000002 LEHMAN BROTHERS
022 B000002 13-2518466
022 C000002 161240
022 D000002 0
022 A000003 STATE STREET BANK & TRUST CO
022 B000003 04-1867445
022 C000003 87115
022 D000003 0
022 A000004 BA SECURITIES
022 B000004 95-4035346
022 C000004 85685
022 D000004 0
022 A000005 PRUDENTIAL SECURITIES INC
022 B000005 22-2347336
022 C000005 20353
022 D000005 4981
022 A000006 DONALDSON LUFKIN & JENRETTE
022 B000006 13-2741729
022 C000006 8214
022 D000006 4345
022 A000007 HONG KONG SHANGHAI
022 B000007 13-2741729
022 C000007 12304
<PAGE> PAGE 3
022 D000007 0
022 A000008 MABON SECURITIES CORP
022 B000008 13-5220060
022 C000008 2320
022 D000008 0
022 A000009 FIRST CHICAGO CAPITAL MARKETS
022 B000009 36-3595942
022 C000009 1984
022 D000009 0
022 A000010 BARRINGTON TRADING CO
022 B000010 36-2942713
022 C000010 0
022 D000010 975
023 C000000 661870
023 D000000 7304
024 000000 Y
025 A000001 DONALDSON LUFKIN & JENNRETTE
025 B000001 13-2741729
025 C000001 D
025 D000001 2685
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 0
028 A020000 0
028 A030000 0
028 A040000 49
028 B010000 0
028 B020000 0
028 B030000 0
028 B040000 42
028 C010000 0
028 C020000 0
028 C030000 0
028 C040000 238
028 D010000 0
028 D020000 0
<PAGE> PAGE 4
028 D030000 0
028 D040000 318
028 E010000 0
028 E020000 0
028 E030000 0
028 E040000 490
028 F010000 0
028 F020000 0
028 F030000 0
028 F040000 153
028 G010000 0
028 G020000 0
028 G030000 0
028 G040000 1290
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 42
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.450
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
<PAGE> PAGE 5
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 Y
053 B000000 Y
054 A000000 Y
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 N
054 I000000 Y
054 J000000 N
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056 000000 N
057 000000 Y
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 500
062 A000000 Y
062 B000000 0.0
062 C000000 34.5
062 D000000 16.9
062 E000000 0.0
<PAGE> PAGE 6
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0
062 N000000 49.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 1.0
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
<PAGE> PAGE 7
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 5530
071 B000000 7304
071 C000000 10677
071 D000000 52
072 A000000 12
072 B000000 1125
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 85
072 G000000 0
072 H000000 0
072 I000000 14
072 J000000 4
072 K000000 0
072 L000000 16
072 M000000 15
072 N000000 0
072 O000000 0
072 P000000 0
072 Q000000 55
072 R000000 35
072 S000000 8
072 T000000 42
072 U000000 0
072 V000000 0
072 W000000 12
072 X000000 286
072 Y000000 9
072 Z000000 848
072AA000000 0
072BB000000 169
072CC010000 0
072CC020000 186
072DD010000 888
072DD020000 0
072EE000000 0
073 A010000 0.7400
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 4
074 B000000 2685
074 C000000 5482
<PAGE> PAGE 8
074 D000000 7786
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 51
074 M000000 20
074 N000000 16028
074 O000000 0
074 P000000 17
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 117
074 S000000 0
074 T000000 15894
074 U010000 1102
074 U020000 0
074 V010000 14.43
074 V020000 0.00
074 W000000 0.0000
074 X000000 587
074 Y000000 0
075 A000000 0
075 B000000 16886
076 000000 0.00
077 A000000 N
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 A000000 ICI Mutual Insurance Co.
<PAGE> PAGE 9
080 B000000
080 C000000 65000
081 A000000 Y
081 B000000 107
082 A000000 Y
082 B000000 100
083 B000000 0
084 B000000 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 DENNIS J MCDONNELL
TITLE PRES, CEO & TRUSTEE
Price Waterhouse LLP
October 10, 1996
To the Board of Directors of the
Van Kampen American Capital Government Target Fund
In planning and performing our audit of the financial statements of the Van
Kampen American Capital Government Target Fund (the "Fund") for the year ended
August 31, 1996, we considered its internal control structure, including
procedures for safeguarding securities, in order to determine our auditing
procedures for the purposes of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR, and not to
provide assurance on the internal control structure.
The management of the Fund is responsible for establishing and maintaining
an internal control structure. In fulfilling this responsibility, estimates
and judgments by management are required to assess the expected benefits
and related costs of internal control structure policies and procedures.
Two of the objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that assets are
appropriately safeguarded against loss from unauthorized use or disposition
and that transactions are executed in accordance with management's
authorization and recorded properly to permit preparation of financial
statements in conformity with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors
or irregularities may occur and may not be detected. Also, projection of
any evaluation of the structure 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.
October 10, 1996
To the Board of Directors
Page 2
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure 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 the specific internal control structure
elements 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 structure, including procedures for safeguarding securities, that
we consider to be material weaknesses as defined above as of August 31,
1996.
This report is intended solely for the information and use of management
and the Securities and Exchange Commission.
Price Waterhouse LLP
<TABLE> <S> <C>
<ARTICLE> 6
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 15677603
<INVESTMENTS-AT-VALUE> 15953165
<RECEIVABLES> 51122
<ASSETS-OTHER> 19511
<OTHER-ITEMS-ASSETS> 4187
<TOTAL-ASSETS> 16027985
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 134218
<TOTAL-LIABILITIES> 134218
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 16949501
<SHARES-COMMON-STOCK> 1101770
<SHARES-COMMON-PRIOR> 1221264
<ACCUMULATED-NII-CURRENT> 687239
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2018535)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 275562
<NET-ASSETS> 15893767
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1125425
<OTHER-INCOME> 0
<EXPENSES-NET> 277279
<NET-INVESTMENT-INCOME> 848146
<REALIZED-GAINS-CURRENT> (168441)
<APPREC-INCREASE-CURRENT> (186417)
<NET-CHANGE-FROM-OPS> 493288
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (887820)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> (184036)
<SHARES-REINVESTED> 64542
<NET-CHANGE-IN-ASSETS> (1215639)
<ACCUMULATED-NII-PRIOR> 685988
<ACCUMULATED-GAINS-PRIOR> (1809169)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 84429
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 285722
<AVERAGE-NET-ASSETS> 16885788
<PER-SHARE-NAV-BEGIN> 14.78
<PER-SHARE-NII> .765
<PER-SHARE-GAIN-APPREC> (.379)
<PER-SHARE-DIVIDEND> (.740)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.426
<EXPENSE-RATIO> 1.64
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
