GRIFFIN FUNDS INC
NSAR-A/A, 1997-05-28
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<PAGE>      PAGE  1
000 A000000 03/31/97
000 C000000 0000910424
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THE GRIFFIN FUNDS INC.
001 B000000 811-7948
001 C000000 8003334437
002 A000000 5000 RIVERGRADE ROAD
002 B000000 IRWINDALE
002 C000000 CA
002 D010000 91706
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  9
007 C010100  1
007 C020100 MONEY MARKET FUND
007 C030100 N
007 C010200  2
007 C020200 TAX-FREE MONEY MARKET FUND
007 C030200 N
007 C010300  3
007 C020300 U.S. GOVERNMENT INCOME FUND
007 C030300 N
007 C010400  4
007 C020400 CALIFORNIA TAX-FREE FUND
007 C030400 N
007 C010500  5
007 C020500 MUNICIPAL BOND FUND
007 C030500 N
007 C010600  6
007 C020600 BOND FUND
007 C030600 N
007 C010700  7
007 C020700 GROWTH & INCOME FUND
007 C030700 N
007 C010800  8
007 C020800 SHORT-TERM BOND FUND
007 C030800 N
007 C010900  9
007 C020900 GROWTH FUND
007 C030900 N
007 C011000 10
010 A00AA01 GRIFFIN FINANCIAL ADMINISTRATORS
<PAGE>      PAGE  2
010 C01AA01 IRWINDALE
010 C02AA01 CA
010 C03AA01 91706
010 A00AA02 INVESTORS FIDUCIARY TRUST COMPANY
010 C01AA02 KANSAS CITY
010 C02AA02 MO
010 C03AA02 64105
011 A00AA01 GRIFFIN FINANCIAL SERVICES
011 B00AA01 8-00000000
011 C01AA01 IRWINDALE
011 C02AA01 CA
011 C03AA01 91706
012 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
012 B00AA01 85-0000000
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 LOS ANGELES
013 B02AA01 CA
013 B03AA01 90017
014 A00AA01 GRIFFIN FINANCIAL SERVICES
014 B00AA01 8-00000000
015 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64105
015 E01AA01 X
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020 C000001     20
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020 B000002 133419223
020 C000002     19
020 A000003 PAINE WEBBER
020 B000003 132638166
020 C000003     16
020 A000004 MERRILL LYNCH
020 B000004 135674085
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020 A000005 INVESTMENT TECHNOLOGY GROUP (ITG)
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020 A000007 SALOMON BROTHERS
<PAGE>      PAGE  3
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022 A000008 J P MORGAN
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022 D000008     14807
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<PAGE>      PAGE  4
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049  00AA00 N
050  00AA00 N
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054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
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054 M00AA00 N
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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
068 B000100 N
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070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
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070 N020100 N
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070 P010100 Y
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070 Q020100 N
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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008 A000201 GRIFFIN FINANCIAL INVESTMENT ADVISERS
008 B000201 A
008 C000201 801-44570
008 D010201 IRWINDALE
008 D020201 CA
008 D030201 91706
008 A000202 PAYDEN & RYGEL INVESTMENT COUNSEL
008 B000202 S
008 C000202 801-19762
008 D010202 LOS ANGELES
008 D020202 CA
008 D030202 90071
024  000200 N
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<PAGE>      PAGE  11
028 H000200         0
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034  000200 N
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036 B000200      0
037  000200 N
038  000200      0
039  000200 N
040  000200 Y
041  000200 N
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042 E000200   0
042 F000200   0
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<PAGE>      PAGE  12
056  000200 Y
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058 D000200 N
058 E000200 N
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070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
<PAGE>      PAGE  13
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
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070 K010200 Y
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<PAGE>      PAGE  14
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008 A000301 GRIFFIN FINANCIAL INVESTMENT ADVISERS
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008 C000301 801-44570
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<PAGE>      PAGE  15
008 D030301 91706
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<PAGE>      PAGE  16
039  000300 N
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<PAGE>      PAGE  17
061  000300        1
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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
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<PAGE>      PAGE  22
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<PAGE>      PAGE  23
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<PAGE>      PAGE  24
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<PAGE>      PAGE  25
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<PAGE>      PAGE  26
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<PAGE>      PAGE  27
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<PAGE>      PAGE  28
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<PAGE>      PAGE  30
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<PAGE>      PAGE  31
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<PAGE>      PAGE  32
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<PAGE>      PAGE  33
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<PAGE>      PAGE  36
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<PAGE>      PAGE  37
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<PAGE>      PAGE  38
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<PAGE>      PAGE  41
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SIGNATURE   STEVEN MUSON                                 
TITLE       ASSISTANT TREASURER 
 


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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC
<SERIES>
   <NUMBER> 032
   <NAME> U.S. GOVERNMENT INCOME FUND B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC
<SERIES>
   <NUMBER> 041
   <NAME> CALIFORNIA TAX-FREE FUND A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC
<SERIES>
   <NUMBER> 042
   <NAME> CALIFORNIA TAX-FREE FUND B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC.
<SERIES>
   <NUMBER> 051
   <NAME> MUNICIPAL BOND FUND A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC.
<SERIES>
   <NUMBER> 052
   <NAME> MUNICIPAL BOND FUND B
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC.
<SERIES>
   <NUMBER> 061
   <NAME> BOND FUND A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC.
<SERIES>
   <NUMBER> 062
   <NAME> BOND FUND B
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC.
<SERIES>
   <NUMBER> 071
   <NAME> GROWTH & INCOME FUND A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC.
<SERIES>
   <NUMBER> 072
   <NAME> GROWTH & INCOME FUND B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
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<NET-CHANGE-FROM-OPS>                         13638742
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC.
<SERIES>
   <NUMBER> 081
   <NAME> SHORT-TERM BOND FUND A
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC.
<SERIES>
   <NUMBER> 082
   <NAME> SHORT-TERM BOND FUND B
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC.
<SERIES>
   <NUMBER> 091
   <NAME> GROWTH FUND A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910424
<NAME> THE GRIFFIN FUNDS INC.
<SERIES>
   <NUMBER> 092
   <NAME> GROWTH FUND B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>


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