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, 1995

  (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, 1994,
       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                                                  1,208,071,035

  (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)                                                 1,208,071,035



      WITNESS the due execution hereof this 15th day of June, 1995.



                                    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)                                 $1,234,205,726

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       $1,303,962,675

   (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         $1,303,962,675

Total amount upon which the fee calculation specified
in Section 6(b) of the Securities Act of 1933 is based      $  (69,756,949)

      FEE SUBMITTED (1/29 of 1% of Total amount)            $            0

EX-99.OPINIONLETTER

   Federated Administrative
                Services

                                                   FEDERATED INVESTORS TOWER
                                                   PITTSBURGH, PA 15222-3779
                                                   412-288-1900
                                                   June 15, 1995


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

Gentlemen:

      You have requested my opinion for use in conjunction with a Rule 24f-2
Notice for RIMCO Monument Funds ("Trust") to be filed in respect of shares of
the Trust ("Shares") sold for the fiscal year ended April 30, 1995, pursuant
to the Trust's registration statement filed with the Securities and Exchange
Commission ("SEC") under the Securities Act of 1933 (File No. 33-40482)
("Registration Statement").

      In its Registration Statement, the Trust elected to register an
indefinite number of shares pursuant to the provisions of Investment Company
Act Rule 24f-2.

      As counsel I have participated in the preparation and filing of the
Trust's amended Registration Statement under the Securities Act of 1933.
Further, I have examined and am familiar with the provisions of the
Declaration of Trust dated April 1, 1991 ("Declaration of Trust"), the Bylaws
of the Trust and such other documents and records deemed relevant. I have also
reviewed questions of law and consulted with counsel thereon as deemed
necessary or appropriate by me for the purposes of this opinion.

      On the basis of the foregoing, it is my opinion the Shares sold for the
fiscal year ended April 30, 1995, registration of which the Rule 24f-2 Notice
makes definite in number, were legally issued, fully paid and non-assessable
by the Trust.

      I hereby consent to the filing of this opinion as an exhibit to the Rule
24f-2 Notice referred to above, the Registration Statement of the Trust and to
any application or registration statement filed under the securities laws of
any of the States of the United States.

      The foregoing opinion is limited to the Federal laws of the United
States and the laws of the Commonwealth of Massachusetts, and I am expressing
no  opinion as to the effect of the laws of any other jurisdiction.


                                          Very truly yours,

                                          /s/ Jay S. Neuman

                                          Jay S. Neuman
                                          Fund Attorney