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<PAGE> PAGE 13
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SIGNATURE JAMES F. PATTERSON
TITLE TREASURER
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM MONARCH FUNDS SEMI-ANNUAL REPORT DATED FEBRUARY 28, 1995
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<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM MONARCH FUNDS SEMI-ANNUAL REPORTE DATED FEBRUARY 28, 1995
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<CIK> 0000889509
<NAME> MONARCH FUNDS
<SERIES>
<NUMBER> 021
<NAME> MONARCH CASH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1995
<PERIOD-START> SEP-01-1994
<PERIOD-END> FEB-28-1995
<INVESTMENTS-AT-COST> 88,809,316
<INVESTMENTS-AT-VALUE> 88,809,316
<RECEIVABLES> 349,551
<ASSETS-OTHER> 17,828
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 89,176,695
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 434,416
<TOTAL-LIABILITIES> 434,416
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 88,760,064
<SHARES-COMMON-STOCK> 88,760,065
<SHARES-COMMON-PRIOR> 77,900,324
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (17,785)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 88,742,279
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,432,452
<OTHER-INCOME> 0
<EXPENSES-NET> 203,515
<NET-INVESTMENT-INCOME> 2,228,937
<REALIZED-GAINS-CURRENT> 7,213
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2,236,150
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,228,937
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 382,920,262
<NUMBER-OF-SHARES-REDEEMED> 372,643,911
<SHARES-REINVESTED> 583,390
<NET-CHANGE-IN-ASSETS> 10,859,741
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (24,998)
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 18,653
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 288,854
<AVERAGE-NET-ASSETS> 88,276,140
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .03
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<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> .03
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .27
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM MONARCH FUNDS SEMI-ANNUAL REPORT DATED FEBRUARY 28, 1995
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<CIK> 0000889509
<NAME> MONARCH FUNDS
<SERIES>
<NUMBER> 022
<NAME> MONARCH CASH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1995
<PERIOD-START> SEP-01-1994
<PERIOD-END> FEB-28-1995
<INVESTMENTS-AT-COST> 88,809,316
<INVESTMENTS-AT-VALUE> 88,809,316
<RECEIVABLES> 349,551
<ASSETS-OTHER> 17,828
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<TOTAL-ASSETS> 89,176,695
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 434,416
<TOTAL-LIABILITIES> 434,416
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 88,760,064
<SHARES-COMMON-STOCK> 88,760,065
<SHARES-COMMON-PRIOR> 77,900,324
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (17,785)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 88,742,279
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,432,452
<OTHER-INCOME> 0
<EXPENSES-NET> 203,515
<NET-INVESTMENT-INCOME> 2,228,937
<REALIZED-GAINS-CURRENT> 7,213
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<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 382,920,262
<NUMBER-OF-SHARES-REDEEMED> 372,643,911
<SHARES-REINVESTED> 583,390
<NET-CHANGE-IN-ASSETS> 10,859,741
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (24,998)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 18,653
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 288,854
<AVERAGE-NET-ASSETS> 88,276,140
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> .02
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM MONARCH FUNDS SEMI-ANNUAL REPORT DATED FEBRUARY 28, 1995
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<CIK> 0000889509
<NAME> MONARCH FUNDS
<SERIES>
<NUMBER> 030
<NAME> MONARCH TREASURY CASH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1995
<PERIOD-START> SEP-01-1994
<PERIOD-END> FEB-28-1995
<INVESTMENTS-AT-COST> 28,092,409
<INVESTMENTS-AT-VALUE> 28,092,409
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<ASSETS-OTHER> 18,180
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<TOTAL-ASSETS> 28,114,188
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<OTHER-ITEMS-LIABILITIES> 135,544
<TOTAL-LIABILITIES> 135,544
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 27,976,903
<SHARES-COMMON-STOCK> 27,976,903
<SHARES-COMMON-PRIOR> 41,195,547
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,741
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 27,978,644
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 575,130
<OTHER-INCOME> 0
<EXPENSES-NET> 45,655
<NET-INVESTMENT-INCOME> 529,475
<REALIZED-GAINS-CURRENT> 3,249
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<NET-CHANGE-FROM-OPS> 532,724
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 529,475
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 195,270,831
<NUMBER-OF-SHARES-REDEEMED> 208,539,055
<SHARES-REINVESTED> 49,580
<NET-CHANGE-IN-ASSETS> (13,218,644)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1,508)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,628
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 100,039
<AVERAGE-NET-ASSETS> 21,920,098
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> .02
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .42
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
