1
                                                                  EXHIBIT (j)(1)

                        CONSENT OF INDEPENDENT AUDITORS

We consent to the reference to our firm under the captions "Financial
Highlights" and "Independent Auditors" and to the incorporation by reference of
our report dated July 14, 2000 in the Registration Statement (Form N-1A) and
related Prospectus and Statement of Additional Information of the Van Kampen
Reserve Fund filed with the Securities and Exchange Commission in this
Post-Effective Amendment No. 42 to the Registration Statement under the
Securities Act of 1933 (Registration No. 2-50870) and in this Amendment No. 27
to the Registration Statement under the Investment Company Act of 1940
(Registration No. 811-2482).



                                                               ERNST & YOUNG LLP


Chicago, Illinois
September 22, 2000