24F-2NT

                               Rule 24f-2 Notice

                              RIMCO MONUMENT FUNDS

                                  (Fund Name)


                           Federated Investors Tower
                      Pittsburgh, Pennsylvania 15222-3779

                             1933 Act No. 33-40428


  (i)   fiscal period for which notice is filed April 30, 1994

 (ii)   The number or amount of securities of the
        same class or series, if any, which had
        been registered under the Securities Act
        of 1933, other than pursuant to Rule 24f-2
        but which remained unsold at May 1, 1993,
        the beginning of the Registrant's fiscal
        period                                               0

(iii)   The number or amount of securities, if
        any, registered during the fiscal period
        of this notice other than pursuant to
        Rule 24f-2                                           0                 0

  (iv)  The number or amount of securities
        sold during the fiscal period of this
        notice                                                     1,513,650,358

   (v)  The number or amount of securities sold
        during the fiscal period of this notice
        in reliance upon registration pursuant
        to Rule 24f-2 (see attached Computation
        of Fee)                                                    1,513,650,358



     WITNESS the due execution hereof this 15th day of June, 1994.



                                        By: /s/ Jay S. Neuman
                                            Jay S. Neuman
                                            Assistant Secretary

                               COMPUTATION OF FEE


1. Actual aggregate sale price of Registrant's
   securities sold pursuant to Rule 24f-2 during
   the fiscal period for which the 24f-2 notice
   is filed (see Section v)...................................... $1,559,555,177

2. Reduced by the difference between:

   (a)  actual aggregate redemption price
        of such securities redeemed by the
        issuer during the fiscal period for
        which the 24f-2 notice is filed........ $1,460,551,886

   (b)  actual aggregate redemption price
        of such redeemed securities
        previously applied by the issuer
        pursuant to Section 24e(2)(a) for
        the fiscal period for which the
        24f-2 notice is filed..................              0     1,460,551,886


Total amount upon which the fee calculation specified
in Section 6(b) of the Securities Act of 1933 is
based......................................................... $      99,003,291


     FEE SUBMITTED (1/29 of 1% of Total amount)............... $          34,139

EX-99.OPINIONLETTER

              HOUSTON, HOUSTON & DONNELLY
                    ATTORNEYS AT LAW
                 2510 CENTRE CITY TOWER
WILLIAM McC. HOUSTONPITTSBURGH, PA.  15222
FRED CHALMERS HOUSTON, JR.__________
THOMAS J. DONNELLY
JOHN F. MECK         (412) 471-5828      FRED CHALMERS HOUSTON
                    FAX (412) 471-0736     (1914 - 1971)


MARIO SANTILLI, JR.
THEODORE M. HAMMER

                          June 13, 1994
                                
                                
                                
RIMCO Monument Funds
Federated Investors Tower
Pittsburgh, PA  15222-3779

Gentlemen:

     You have requested our opinion for use in conjunction with a
Rule  24f-2 Notice for RIMCO Monument Funds ("Fund") to be  filed
in  respect of shares of the Fund ("Shares") sold for the  fiscal
year  ended  April 30, 1994, pursuant to the Fund's  registration
statement  filed  with  the Securities  and  Exchange  Commission
("SEC")  under  the  Securities Act of 1933 (File  No.  33-40428)
("Registration Statement").

      In its Registration Statement, the Fund elected to register
an  indefinite number of Shares pursuant to the provisions of SEC
Rule 24f-2.

      We  have reviewed the amended Registration Statement of the
Fund  and  such other documents and records deemed relevant.   On
the  basis  of the foregoing, it is our opinion that  the  Shares
sold  for  the fiscal year ended April 30, 1994, registration  of
which  the  Rule  24f-2  Notice makes definite  in  number,  were
legally issued, fully paid and non-assessable.

      We consent to your filing this opinion as an Exhibit to the
Rule  24f-2 Notice referred to above, the Registration  Statement
of  the  Fund  and  to any application or registration  statement
filed  under  the  Securities Laws of any of the  States  of  the
United States.

                                   Very truly yours,

                                   Houston, Houston & Donnelly



                                   By:  Thomas J. Donnelly

TJD:smg