FLORIDA DAILY MUNICIPAL INCOME FUND
NSAR-A, 1997-04-16
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<PAGE>      
000 A000000 02/28/97
000 C000000 0000927516
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001 A000000 FLORIDA DAILY MUNICIPAL INCOME FUND
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001 C000000 2128305200
002 A000000 600 FIFTH AVENUE
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008 B000001 A
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008 D040001 2302
011 A000001 REICH & TANG DISTRIBUTORS L.P.
011 B000001 8-43429
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011 C030001 10020
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012 A000001 REICH & TANG SERVICES L.P.
012 B000001 84-2007
012 C010001 NEW YORK
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<PAGE>      
013 A000001 MCGLADREY & PULLEN LLP
013 B010001 NEW YORK
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015 A000001 INVESTORS FIDUCIARY TRUST COMPANY
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022 A000001 MORGAN SECURITIES INC.
022 B000001 13-3224016
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022 D000001     41100
022 A000002 FIRST CHICAGO CAPITAL MARKETS, INC.
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<PAGE>      
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SIGNATURE   BERNADETTE N. FINN                           
TITLE       SECRETARY           
 
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>           6
<LEGEND>            The  schedule   contains   summary   financial   information
                    extracted  from  the  financial  statements  and  supporting
                    schedules  as of the end of the most  current  period and is
                    qualified in its  entirety by  reference  to such  financial
                    statements.
</LEGEND>
<CIK>               0000927516
<NAME>              Florida Daily Municipal Income Fund
       
<S>                               <C>    
<FISCAL-YEAR-END>             AUG-31-1997
<PERIOD-START>                SEP-01-1996
<PERIOD-END>                  FEB-28-1997
<PERIOD-TYPE>                 SEMI-ANNUAL
<INVESTMENTS-AT-COST>         103123116
<INVESTMENTS-AT-VALUE>        103123116
<RECEIVABLES>                 496719
<ASSETS-OTHER>                0
<OTHER-ITEMS-ASSETS>          29156
<TOTAL-ASSETS>                103648991
<PAYABLE-FOR-SECURITIES>      1000000
<SENIOR-LONG-TERM-DEBT>       0
<OTHER-ITEMS-LIABILITIES>     985816
<TOTAL-LIABILITIES>           1985816
<SENIOR-EQUITY>               0
<PAID-IN-CAPITAL-COMMON>      101667071
<SHARES-COMMON-STOCK>         101667071
<SHARES-COMMON-PRIOR>         46372860
<ACCUMULATED-NII-CURRENT>     0
<OVERDISTRIBUTION-NII>        0
<ACCUMULATED-NET-GAINS>       (3897)
<OVERDISTRIBUTION-GAINS>      0
<ACCUM-APPREC-OR-DEPREC>      0
<NET-ASSETS>                  101663175
<DIVIDEND-INCOME>             0
<INTEREST-INCOME>             1287403
<OTHER-INCOME>                0
<EXPENSES-NET>                168147
<NET-INVESTMENT-INCOME>       111256
<REALIZED-GAINS-CURRENT>      0
<APPREC-INCREASE-CURRENT>     0
<NET-CHANGE-FROM-OPS>         111256
<EQUALIZATION>                0
<DISTRIBUTIONS-OF-INCOME>     1119255
<DISTRIBUTIONS-OF-GAINS>      0
<DISTRIBUTIONS-OTHER>         0
<NUMBER-OF-SHARES-SOLD>       244685070
<NUMBER-OF-SHARES-REDEEMED>   190411842
<SHARES-REINVESTED>           1020983
<NET-CHANGE-IN-ASSETS>        55294212
<ACCUMULATED-NII-PRIOR>       0
<ACCUMULATED-GAINS-PRIOR>     (3897)
<OVERDISTRIB-NII-PRIOR>       0
<OVERDIST-NET-GAINS-PRIOR>    0
<GROSS-ADVISORY-FEES>         148571
<INTEREST-EXPENSE>            0
<GROSS-EXPENSE>               396967
<AVERAGE-NET-ASSETS>          74901337
<PER-SHARE-NAV-BEGIN>         1.00
<PER-SHARE-NII>               0.02
<PER-SHARE-GAIN-APPREC>       0
<PER-SHARE-DIVIDEND>          0.02
<PER-SHARE-DISTRIBUTIONS>     0
<RETURNS-OF-CAPITAL>          0
<PER-SHARE-NAV-END>           1.00
<EXPENSE-RATIO>               0.52
<AVG-DEBT-OUTSTANDING>        0
<AVG-DEBT-PER-SHARE>          0
        

</TABLE>


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