T ROWE PRICE SUMMIT MUNICIPAL FUNDS INC
NSAR-A, 1999-06-30
Previous: T ROWE PRICE SUMMIT FUNDS INC, NSAR-A, 1999-06-30
Next: UNIPHASE CORP /CA/, S-8, 1999-06-30



<PAGE>      PAGE  1
000 A000000 04/30/99
000 C000000 0000912029
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 T. ROWE PRICE SUMMIT MUNICIPAL FUNDS, INC.
001 B000000 811-7095
001 C000000 4103452000
002 A000000 100 EAST PRATT STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  3
007 C010100  1
007 C020100 T. ROWE PRICE SUMMIT MUNICIPAL MONEY MARKET
007 C030100 N
007 C010200  2
007 C020200 T. ROWE PRICE SUMMIT MUNICIPAL INTERMEDIATE
007 C030200 N
007 C010300  3
007 C020300 T. ROWE PRICE SUMMIT MUNICIPAL INCOME FUND
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 T. ROWE PRICE ASSOCIATES, INC.
008 B00AA01 A
008 C00AA01 801-856
008 D01AA01 BALTIMORE
008 D02AA01 MD
008 D03AA01 21202
011 A00AA01 T. ROWE PRICE INVESTMENT SERVICES, INC.
011 B00AA01 8-25130
011 C01AA01 BALTIMORE
011 C02AA01 MD
011 C03AA01 21202
012 A00AA01 T. ROWE PRICE INVESTMENT SERVICES, INC.
012 B00AA01 84-1079
<PAGE>      PAGE  2
012 C01AA01 BALTIMORE
012 C02AA01 MD
012 C03AA01 21202
013 A00AA01 PRICEWATERHOUSECOOPERS
013 B01AA01 BALTIMORE
013 B02AA01 MD
013 B03AA01 21202
014 A00AA01 T. ROWE PRICE INVESTMENT SERVICES, INC.
014 B00AA01 8-25130
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   87
019 C00AA00 TROWEPRICE
020 A000001 GOLDMAN SACHS
020 B000001 13-5108880
020 C000001     25
020 A000002 PAINWEBBER
020 B000002 13-2638166
020 C000002     16
020 A000003 NATIONS BANKS
020 B000003 75-0520130
020 C000003      9
020 A000004 MORGAN STANLEY & CO
020 B000004 13-2655998
020 C000004      9
020 A000005 LEHMAN BROTHERS
020 B000005 13-2514866
020 C000005      8
020 A000006 DAVENPORT & CO
020 B000006 54-1835842
020 C000006      6
020 A000007 ZIEGLER
020 C000007      6
020 A000008 MERRILL LYNCH, PIERCE, FENNER & SMITH
020 B000008 13-5674085
020 C000008      6
020 A000009 BEAR STEARNS
020 B000009 13-3299429
020 C000009      5
020 A000010 FLEET NORSTAR
020 C000010      4
021  000000      126
022 A000001 GOLDMAN SACHS
022 B000001 13-5108880
022 C000001     82707
<PAGE>      PAGE  3
022 D000001     69322
022 A000002 SALOMON/SMITH BARNEY
022 B000002 13-1912900
022 C000002     82056
022 D000002     54499
022 A000003 MORGAN STANLEY
022 B000003 13-2655998
022 C000003     33565
022 D000003     25618
022 A000004 MERRILL LYNCH, PIERCE, FENNER & SMITH
022 B000004 13-5674085
022 C000004     19812
022 D000004     11307
022 A000005 LEHMAN BROTHERS
022 B000005 13-2518466
022 C000005     12558
022 D000005     15181
022 A000006 PAINE WEBBER
022 B000006 13-2638166
022 C000006     14717
022 D000006     11182
022 A000007 NATIONS BANK
022 B000007 75-0520130
022 C000007     19137
022 D000007       936
022 A000008 RAYMOND JAMES INC.
022 B000008 59-1237041
022 C000008     11337
022 D000008         0
022 A000009 JC BRADFORD
022 B000009 62-0136910
022 C000009      7713
022 D000009       493
022 A000010 CRESTAR
022 C000010         0
022 D000010      7000
023 C000000     332461
023 D000000     212860
024  00AA00 N
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027  000000 Y
029  00AA00 N
030 A00AA00      0
<PAGE>      PAGE  4
030 B00AA00  0.00
030 C00AA00  0.00
031 A00AA00      0
031 B00AA00      0
032  00AA00      0
033  00AA00      0
034  00AA00 N
035  00AA00      0
036 B00AA00      0
037  00AA00 N
038  00AA00      0
039  00AA00 N
040  00AA00 N
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
049  00AA00 N
050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
077 A000000 Y
077 B000000 Y
078  000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 N/A
080 C00AA00    60000
081 A00AA00 Y
081 B00AA00 125
<PAGE>      PAGE  5
082 A00AA00 Y
082 B00AA00   100000
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
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
028 A010100     11664
028 A020100       379
028 A030100         0
028 A040100     10689
028 B010100     22425
028 B020100       472
028 B030100         0
028 B040100     22467
028 C010100     21083
028 C020100       345
028 C030100         0
028 C040100     20461
028 D010100     15300
028 D020100       322
028 D030100         0
028 D040100     11263
028 E010100     17772
028 E020100       399
028 E030100         0
028 E040100     14705
028 F010100     15516
028 F020100       431
028 F030100         0
028 F040100     24154
028 G010100    103760
028 G020100      2348
028 G030100         0
028 G040100    103739
028 H000100         0
045  000100 Y
046  000100 N
<PAGE>      PAGE  6
047  000100 Y
048  000100  0.450
048 A010100        0
048 A020100 0.000
048 B010100        0
048 B020100 0.000
048 C010100        0
048 C020100 0.000
048 D010100        0
048 D020100 0.000
048 E010100        0
048 E020100 0.000
048 F010100        0
048 F020100 0.000
048 G010100        0
048 G020100 0.000
048 H010100        0
048 H020100 0.000
048 I010100        0
048 I020100 0.000
048 J010100        0
048 J020100 0.000
048 K010100        0
048 K020100 0.000
055 A000100 N
055 B000100 N
056  000100 Y
057  000100 N
058 A000100 N
059  000100 Y
061  000100     2500
062 A000100 Y
062 B000100   0.0
062 C000100   0.0
062 D000100   0.0
062 E000100  90.9
062 F000100   0.0
062 G000100   0.0
062 H000100   0.0
062 I000100   0.0
062 J000100   0.0
062 K000100   0.0
062 L000100   0.0
062 M000100   0.0
062 N000100   0.0
062 O000100   9.1
062 P000100   0.0
062 Q000100   0.0
062 R000100   0.0
063 A000100  59
063 B000100  0.0
<PAGE>      PAGE  7
064 A000100 Y
064 B000100 N
066 A000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 N
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
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
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100         0
071 B000100         0
071 C000100         0
071 D000100    0
072 A000100  6
072 B000100     2856
072 C000100        0
072 D000100        0
<PAGE>      PAGE  8
072 E000100        0
072 F000100      283
072 G000100        0
072 H000100        0
072 I000100       30
072 J000100       13
072 K000100        1
072 L000100        6
072 M000100        3
072 N000100       16
072 O000100        0
072 P000100        0
072 Q000100       33
072 R000100        4
072 S000100        1
072 T000100        0
072 U000100        0
072 V000100        0
072 W000100        3
072 X000100      393
072 Y000100        0
072 Z000100     2463
072AA000100        0
072BB000100        0
072CC010100        0
072CC020100        0
072DD010100     2463
072DD020100        0
072EE000100        0
073 A010100   0.0140
073 A020100   0.0000
073 B000100   0.0000
073 C000100   0.0000
074 A000100       64
074 B000100        0
074 C000100   185688
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     2683
074 M000100      215
074 N000100   188650
074 O000100    14174
074 P000100        0
074 Q000100        0
074 R010100        0
<PAGE>      PAGE  9
074 R020100        0
074 R030100        0
074 R040100     1183
074 S000100        0
074 T000100   173293
074 U010100   173288
074 U020100        0
074 V010100     1.00
074 V020100     0.00
074 W000100   1.0000
074 X000100     1533
074 Y000100        0
075 A000100   176014
075 B000100        0
076  000100     0.00
028 A010200      3530
028 A020200       175
028 A030200         0
028 A040200       853
028 B010200      4091
028 B020200       318
028 B030200         0
028 B040200      1863
028 C010200      3285
028 C020200       175
028 C030200         0
028 C040200       862
028 D010200      5300
028 D020200       205
028 D030200         0
028 D040200      1310
028 E010200      3218
028 E020200       209
028 E030200         0
028 E040200      2386
028 F010200      5422
028 F020200       231
028 F030200         0
028 F040200      1196
028 G010200     24846
028 G020200      1313
028 G030200         0
028 G040200      8470
028 H000200         0
045  000200 Y
046  000200 N
047  000200 Y
048  000200  0.500
048 A010200        0
048 A020200 0.000
048 B010200        0
<PAGE>      PAGE  10
048 B020200 0.000
048 C010200        0
048 C020200 0.000
048 D010200        0
048 D020200 0.000
048 E010200        0
048 E020200 0.000
048 F010200        0
048 F020200 0.000
048 G010200        0
048 G020200 0.000
048 H010200        0
048 H020200 0.000
048 I010200        0
048 I020200 0.000
048 J010200        0
048 J020200 0.000
048 K010200        0
048 K020200 0.000
062 A000200 Y
062 B000200   0.0
062 C000200   0.0
062 D000200   0.0
062 E000200   5.1
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
062 M000200   0.0
062 N000200   0.0
062 O000200  94.9
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.0
063 A000200   0
063 B000200  6.4
064 A000200 Y
064 B000200 N
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 N
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
<PAGE>      PAGE  11
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200     24672
071 B000200      6645
071 C000200     81326
071 D000200    8
072 A000200  6
072 B000200     2043
072 C000200        0
072 D000200        0
072 E000200        0
072 F000200      108
072 G000200        0
072 H000200        0
072 I000200       49
072 J000200       10
072 K000200        1
072 L000200        3
072 M000200        3
072 N000200       22
072 O000200        0
072 P000200        0
<PAGE>      PAGE  12
072 Q000200        7
072 R000200        4
072 S000200        1
072 T000200        0
072 U000200        0
072 V000200        0
072 W000200        0
072 X000200      208
072 Y000200        0
072 Z000200     1835
072AA000200       65
072BB000200        0
072CC010200        0
072CC020200      479
072DD010200     1835
072DD020200        0
072EE000200      146
073 A010200   0.2400
073 A020200   0.0000
073 B000200   0.0200
073 C000200   0.0000
074 A000200        0
074 B000200        0
074 C000200     4775
074 D000200    90999
074 E000200        0
074 F000200        0
074 G000200        0
074 H000200        0
074 I000200        0
074 J000200        0
074 K000200        0
074 L000200     1689
074 M000200        4
074 N000200    97467
074 O000200     4254
074 P000200       20
074 Q000200        0
074 R010200        0
074 R020200        0
074 R030200        0
074 R040200      136
074 S000200        0
074 T000200    93057
074 U010200     8750
074 U020200        0
074 V010200    10.63
074 V020200     0.00
074 W000200   0.0000
074 X000200      906
074 Y000200        0
<PAGE>      PAGE  13
075 A000200        0
075 B000200    83887
076  000200     0.00
028 A010300      5186
028 A020300       170
028 A030300         0
028 A040300      2250
028 B010300      5263
028 B020300       472
028 B030300         0
028 B040300      1930
028 C010300      6049
028 C020300       167
028 C030300         0
028 C040300      2293
028 D010300      4966
028 D020300       190
028 D030300         0
028 D040300      1378
028 E010300      4761
028 E020300       203
028 E030300         0
028 E040300      2308
028 F010300      3098
028 F020300       221
028 F030300         0
028 F040300      2299
028 G010300     29323
028 G020300      1423
028 G030300         0
028 G040300     12458
028 H000300         0
045  000300 Y
046  000300 N
047  000300 Y
048  000300  0.500
048 A010300        0
048 A020300 0.000
048 B010300        0
048 B020300 0.000
048 C010300        0
048 C020300 0.000
048 D010300        0
048 D020300 0.000
048 E010300        0
048 E020300 0.000
048 F010300        0
048 F020300 0.000
048 G010300        0
048 G020300 0.000
048 H010300        0
<PAGE>      PAGE  14
048 H020300 0.000
048 I010300        0
048 I020300 0.000
048 J010300        0
048 J020300 0.000
048 K010300        0
048 K020300 0.000
055 A000300 N
055 B000300 N
056  000300 Y
057  000300 N
058 A000300 N
059  000300 Y
061  000300     2500
062 A000300 Y
062 B000300   0.0
062 C000300   0.0
062 D000300   0.0
062 E000300   4.6
062 F000300   0.0
062 G000300   0.0
062 H000300   0.0
062 I000300   0.0
062 J000300   0.0
062 K000300   0.0
062 L000300   0.0
062 M000300   0.0
062 N000300   0.0
062 O000300  95.4
062 P000300   0.0
062 Q000300   0.0
062 R000300   0.0
063 A000300   0
063 B000300 16.6
064 A000300 Y
064 B000300 N
066 A000300 N
067  000300 N
068 A000300 N
068 B000300 N
069  000300 N
070 A010300 N
070 A020300 N
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 Y
070 E020300 N
<PAGE>      PAGE  15
070 F010300 N
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300     31963
071 B000300     15527
071 C000300     71458
071 D000300   22
072 A000300  6
072 B000300     1920
072 C000300        0
072 D000300        0
072 E000300        0
072 F000300       82
072 G000300        0
072 H000300        0
072 I000300       20
072 J000300        9
072 K000300        1
072 L000300        2
072 M000300        3
072 N000300       22
072 O000300        0
072 P000300        0
072 Q000300       41
072 R000300        4
072 S000300        1
072 T000300        0
072 U000300        0
<PAGE>      PAGE  16
072 V000300        0
072 W000300        3
072 X000300      188
072 Y000300        0
072 Z000300     1732
072AA000300       73
072BB000300        0
072CC010300        0
072CC020300      662
072DD010300     1732
072DD020300        0
072EE000300      325
073 A010300   0.2500
073 A020300   0.0000
073 B000300   0.0500
073 C000300   0.0000
074 A000300        9
074 B000300        0
074 C000300     4340
074 D000300    79472
074 E000300        0
074 F000300        0
074 G000300        0
074 H000300        0
074 I000300        0
074 J000300       15
074 K000300        0
074 L000300     1176
074 M000300       14
074 N000300    85026
074 O000300        0
074 P000300       16
074 Q000300        0
074 R010300        0
074 R020300        0
074 R030300        0
074 R040300     1678
074 S000300        0
074 T000300    83332
074 U010300     7832
074 U020300        0
074 V010300    10.65
074 V020300     0.00
074 W000300   0.0000
074 X000300     1039
074 Y000300        0
075 A000300        0
075 B000300    75626
076  000300     0.00
SIGNATURE   HENRY HOPKINS
TITLE       VICE PRESIDENT


WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000912029
<NAME> SUMMIT MUNICIPAL MONEY MARKET FUND

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                           185688
<INVESTMENTS-AT-VALUE>                          185688
<RECEIVABLES>                                     2883
<ASSETS-OTHER>                                      79
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  188650
<PAYABLE-FOR-SECURITIES>                         14174
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1184
<TOTAL-LIABILITIES>                              15358
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        173288
<SHARES-COMMON-STOCK>                           173288
<SHARES-COMMON-PRIOR>                           170919
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              5
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    173293
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 2856
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     393
<NET-INVESTMENT-INCOME>                           2463
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                             2463
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       (2463)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         103760
<NUMBER-OF-SHARES-REDEEMED>                   (103739)
<SHARES-REINVESTED>                               2348
<NET-CHANGE-IN-ASSETS>                            2369
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            5
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              283
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    393
<AVERAGE-NET-ASSETS>                            176014
<PER-SHARE-NAV-BEGIN>                                1
<PER-SHARE-NII>                                   0.01
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                            (0.01)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  1
<EXPENSE-RATIO>                                   0.45
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000912029
<NAME> SUMMIT MUNICIPAL INTERMEDIATE-TERM BOND FUND

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                            93420
<INVESTMENTS-AT-VALUE>                           95774
<RECEIVABLES>                                     1689
<ASSETS-OTHER>                                       4
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   97467
<PAYABLE-FOR-SECURITIES>                          4253
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          157
<TOTAL-LIABILITIES>                               4410
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         90711
<SHARES-COMMON-STOCK>                             8750
<SHARES-COMMON-PRIOR>                             7094
<ACCUMULATED-NII-CURRENT>                            1
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                           (9)
<ACCUM-APPREC-OR-DEPREC>                          2354
<NET-ASSETS>                                     93057
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 2043
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     208
<NET-INVESTMENT-INCOME>                           1835
<REALIZED-GAINS-CURRENT>                            65
<APPREC-INCREASE-CURRENT>                        (479)
<NET-CHANGE-FROM-OPS>                             1421
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       (1835)
<DISTRIBUTIONS-OF-GAINS>                         (146)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           2327
<NUMBER-OF-SHARES-REDEEMED>                      (794)
<SHARES-REINVESTED>                                123
<NET-CHANGE-IN-ASSETS>                           17129
<ACCUMULATED-NII-PRIOR>                              1
<ACCUMULATED-GAINS-PRIOR>                           72
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              108
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    208
<AVERAGE-NET-ASSETS>                             83887
<PER-SHARE-NAV-BEGIN>                             10.7
<PER-SHARE-NII>                                   0.24
<PER-SHARE-GAIN-APPREC>                         (0.05)
<PER-SHARE-DIVIDEND>                            (0.24)
<PER-SHARE-DISTRIBUTIONS>                       (0.02)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.63
<EXPENSE-RATIO>                                    0.5
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000912029
<NAME> SUMMIT MUNICIPAL INCOME FUND

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                            81975
<INVESTMENTS-AT-VALUE>                           83812
<RECEIVABLES>                                     1191
<ASSETS-OTHER>                                      23
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   85026
<PAYABLE-FOR-SECURITIES>                          1260
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          434
<TOTAL-LIABILITIES>                               1694
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         81535
<SHARES-COMMON-STOCK>                             7823
<SHARES-COMMON-PRIOR>                             6116
<ACCUMULATED-NII-CURRENT>                            1
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                          (41)
<ACCUM-APPREC-OR-DEPREC>                          1837
<NET-ASSETS>                                     83332
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 1920
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     188
<NET-INVESTMENT-INCOME>                           1732
<REALIZED-GAINS-CURRENT>                            73
<APPREC-INCREASE-CURRENT>                        (662)
<NET-CHANGE-FROM-OPS>                             1143
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       (1732)
<DISTRIBUTIONS-OF-GAINS>                         (325)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           2736
<NUMBER-OF-SHARES-REDEEMED>                     (1162)
<SHARES-REINVESTED>                                133
<NET-CHANGE-IN-ASSETS>                           17374
<ACCUMULATED-NII-PRIOR>                              1
<ACCUMULATED-GAINS-PRIOR>                          211
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               82
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    188
<AVERAGE-NET-ASSETS>                             75626
<PER-SHARE-NAV-BEGIN>                            10.79
<PER-SHARE-NII>                                   0.25
<PER-SHARE-GAIN-APPREC>                         (0.09)
<PER-SHARE-DIVIDEND>                            (0.25)
<PER-SHARE-DISTRIBUTIONS>                       (0.05)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.65
<EXPENSE-RATIO>                                    0.5
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission