UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number 811-02650
RIVERSOURCE GOVERNMENT MONEY MARKET FUND, INC.
(Exact name of registrant as specified in charter)
50606 Ameriprise Financial Center, Minneapolis, Minnesota 55474
(Address of principal executive offices) (Zip code)
Scott R. Plummer - 5228 Ameriprise Financial Center, Minneapolis, MN 55474
(Name and address of agent for service)
Registrant's telephone number, including area code: (612) 671-1947
Date of fiscal year end: December 31
Date of reporting period: June 30, 2010
Semiannual Report
(COLUMBIA MANAGEMENT LOGO)
RIVERSOURCE
GOVERNMENT MONEY MARKET FUND
- --------------------------------------------------------------------------------
SEMIANNUAL REPORT FOR THE PERIOD ENDED
JUNE 30, 2010
RIVERSOURCE GOVERNMENT MONEY MARKET FUND SEEKS TO PRESERVE CAPITAL AND TO
MAXIMIZE LIQUIDITY AND CURRENT INCOME.
NOT FDIC INSURED - NO BANK GUARANTEE - MAY LOSE VALUE
TABLE OF CONTENTS --------------------------------------------------------------
<Table>
Your Fund at a Glance.............. 3
Fund Expenses Example.............. 6
Portfolio of Investments........... 8
Statement of Assets and
Liabilities...................... 12
Statement of Operations............ 13
Statements of Changes in Net
Assets........................... 14
Financial Highlights............... 16
Notes to Financial Statements...... 21
Approval of Investment Management
Services Agreement............... 31
Proxy Voting....................... 34
</Table>
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2 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
YOUR FUND AT A GLANCE ----------------------------------------------------------
(UNAUDITED)
FUND SUMMARY
- --------------------------------------------------------------------------------
> RiverSource Government Money Market Fund (the Fund) Class A shares returned
0.00% for the six months ended June 30, 2010.
> The Fund's annualized simple yield was 0.01% and the annualized compound yield
was 0.01% for the seven-day period ended June 30, 2010. These yields more
closely reflect the current earnings of the Fund than the total return.
ANNUALIZED TOTAL RETURNS (for period ended June 30, 2010)
- --------------------------------------------------------------------------------
<Table>
<Caption>
6 MONTHS(A) 1 YEAR 3 YEARS 5 YEARS 10 YEARS
- --------------------------------------------------------------------------
RiverSource Government
Money Market Fund Class
A +0.00%(b) +0.01% +1.04% +2.10% +1.88%
- --------------------------------------------------------------------------
</Table>
The performance information shown represents past performance and is not a
guarantee of future results. The investment return and principal value of your
investment will fluctuate so that your shares, when redeemed, may be worth more
or less than their original cost. Current performance may be lower or higher
than the performance information shown. You may obtain performance information
current to the most recent month-end by contacting your financial intermediary,
visiting riversource.com/funds (through September 26, 2010) and thereafter
columbiamanagement.com or calling 800.221.2450.
The Fund is neither insured nor guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency. Although the Fund seeks to
preserve the value of your investment at $1 per share, it is possible to lose
money by investing in the Fund. Yields will fluctuate. The seven-day current
yield more closely reflects the current earnings of the Fund than the total
return. The performance of other classes may vary from that shown because of
differences in fees and expenses. The Fund's returns reflect the effect of fee
waivers/expense reimbursements, if any. Without such waivers/reimbursements, the
Fund's returns would be lower. See the Average Annual Total Returns table for
performance of other share classes of the Fund.
(a) Not annualized.
(b) Rounds to less than 0.01%.
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 3
YOUR FUND AT A GLANCE (continued) ----------------------------------------------
AVERAGE ANNUAL TOTAL RETURNS
- --------------------------------------------------------------------------------
<Table>
<Caption>
AT JUNE 30, 2010
SINCE
Without sales charge 6 MONTHS(A) 1 YEAR 3 YEARS 5 YEARS 10 YEARS INCEPTION(B)
Class A
(inception 1/31/77) +0.00%(c) +0.01% +1.04% +2.10% +1.88% N/A
- ------------------------------------------------------------------------------------
Class B
(inception 4/22/96) +0.00%(c) +0.01% +0.60% +1.39% +1.21% N/A
- ------------------------------------------------------------------------------------
Class C
(inception 5/3/93) +0.00%(c) +0.01% +0.59% +1.39% +1.21% N/A
- ------------------------------------------------------------------------------------
Class R2
(inception 4/30/03) +0.00%(c) +0.01% +0.93% +1.93% N/A +1.48%
- ------------------------------------------------------------------------------------
Class R5
(inception
11/30/01) +0.01% +0.02% +1.17% +2.29% N/A +1.70%
- ------------------------------------------------------------------------------------
With sales charge
Class B
(inception 4/22/96) -5.00% -4.99% -0.40% +1.01% +1.21% N/A
- ------------------------------------------------------------------------------------
Class C
(inception 5/3/93) -1.00% -0.99% +0.59% +1.39% +1.21% N/A
- ------------------------------------------------------------------------------------
</Table>
Sales charges do not apply to Class A, Class R2 and Class R5 shares. Class B
share performance reflects a contingent deferred sales charge (CDSC) applied as
follows: first year 5%; second year 4%; third and fourth years 3%; fifth year
2%; sixth year 1%; no sales charge thereafter. Class C shares may be subject to
a 1% CDSC if shares are sold within one year after purchase. Class R2 and Class
R5 are available to qualifying institutional investors only.
(a) Not annualized.
(b) For classes with less than 10 years performance.
(c) Rounds to less than 0.01%.
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4 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
- --------------------------------------------------------------------------------
PORTFOLIO BREAKDOWN(1) (at June 30, 2010)
- ---------------------------------------------------------
<Table>
Municipal Notes 3.2%
- --------------------------------------
Repurchase Agreements 23.4%
- --------------------------------------
U.S. Government Agencies 66.8%
- --------------------------------------
U.S. Government Obligations &
Agencies 6.6%
- --------------------------------------
</Table>
(1) Percentages indicated are based upon total investments. The Fund's
composition is subject to change.
An investment in money market funds is not insured or guaranteed by the Federal
Deposit Insurance Corporation or any other government agency. Although the Fund
seeks to maintain the value of your investment at $1.00 per share, it is
possible to lose money by investing in the Fund.
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 5
FUND EXPENSES EXAMPLE ----------------------------------------------------------
(UNAUDITED)
As a shareholder of the Fund, you incur two types of costs: (i) transaction
costs, including sales charges (loads) on purchase payments; and (ii) ongoing
costs, which may include management fees; distribution and service (Rule 12b-1)
fees; and other Fund fees and expenses. This example is intended to help you
understand your ongoing costs (in dollars) of investing in the Fund and to
compare these costs with the ongoing costs of investing in other mutual funds.
The example is based on an investment of $1,000 invested at the beginning of the
period and held for the six months ended June 30, 2010.
ACTUAL EXPENSES
The first line of the table provides information about actual account values and
actual expenses for each class. You may use the information in this line,
together with the amount you invested, to estimate the expenses that you paid
over the period. Simply divide your account value by $1,000 (for example, an
$8,600 account value divided by $1,000 = 8.6), then multiply the result by the
number in the first line under the heading titled "Expenses paid during the
period" to estimate the expenses you paid on your account during this period.
HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES
The second line of the table provides information about hypothetical account
values and hypothetical expenses based on the actual expense ratio for each
class and an assumed rate of return of 5% per year before expenses, which is not
the actual return for the class. The hypothetical account values and expenses
may not be used to estimate the actual ending account balance or expenses you
paid for the period. You may use this information to compare the ongoing costs
of investing in the Fund and other funds. To do so, compare this 5% hypothetical
example with the 5% hypothetical examples that appear in the shareholder reports
of the other funds.
Please note that the expenses shown in the table are meant to highlight your
ongoing costs only and do not reflect any transactional costs, such as sales
charges (loads). Therefore, the second line of the table is useful in comparing
ongoing costs only, and will not help you determine the relative total costs of
owning different funds. In addition, if these transactional costs were included,
your costs would have been higher.
- --------------------------------------------------------------------------------
6 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
- --------------------------------------------------------------------------------
<Table>
<Caption>
BEGINNING ENDING EXPENSES
ACCOUNT VALUE ACCOUNT VALUE PAID DURING ANNUALIZED
JAN. 1, 2010 JUNE 30, 2010 THE PERIOD(a) EXPENSE RATIO
- ------------------------------------------------------------------------------------------
Class A
- ------------------------------------------------------------------------------------------
Actual(b) $1,000 $1,000.00 $0.79(c) .16%(c)
- ------------------------------------------------------------------------------------------
Hypothetical
(5% return before expenses) $1,000 $1,024.00 $0.80(c) .16%(c)
- ------------------------------------------------------------------------------------------
Class B
- ------------------------------------------------------------------------------------------
Actual(b) $1,000 $1,000.00 $0.74(c) .15%(c)
- ------------------------------------------------------------------------------------------
Hypothetical
(5% return before expenses) $1,000 $1,024.05 $0.75(c) .15%(c)
- ------------------------------------------------------------------------------------------
Class C
- ------------------------------------------------------------------------------------------
Actual(b) $1,000 $1,000.00 $0.74(c) .15%(c)
- ------------------------------------------------------------------------------------------
Hypothetical
(5% return before expenses) $1,000 $1,024.05 $0.75(c) .15%(c)
- ------------------------------------------------------------------------------------------
Class R2
- ------------------------------------------------------------------------------------------
Actual(b) $1,000 $1,000.00 $0.74(c) .15%(c)
- ------------------------------------------------------------------------------------------
Hypothetical
(5% return before expenses) $1,000 $1,024.05 $0.75(c) .15%(c)
- ------------------------------------------------------------------------------------------
Class R5
- ------------------------------------------------------------------------------------------
Actual(b) $1,000 $1,000.10 $0.79(c) .16%(c)
- ------------------------------------------------------------------------------------------
Hypothetical
(5% return before expenses) $1,000 $1,024.00 $0.80(c) .16%(c)
- ------------------------------------------------------------------------------------------
</Table>
(a) Expenses are equal to the annualized expense ratio for each class as
indicated above, multiplied by the average account value over the period,
multiplied by 181/365 (to reflect the one-half year period).
(b) Based on the actual return for the six months ended June 30, 2010: +0.00%*
for Class A, +0.00%* for Class B, +0.00%* for Class C, +0.00%* for Class R2
and +0.01% for Class R5.
(c) From time to time, Columbia Management Investment Advisers, LLC (formerly
RiverSource Investments, LLC) (the Investment Manager) and its affiliates
may limit the expenses of the Fund for the purpose of increasing the yield.
This expense limitation policy may be revised or terminated at any time
without notice. Had the Investment Manager not limited the expenses of the
Fund during the six months ended June 30, 2010, the annualized expense ratio
would have been 0.66% for Class A, 1.32% for Class B, 1.31% for Class C,
0.98% for Class R2 and 0.48% for Class R5. The actual expenses paid would
have been $3.27 for Class A, $6.55 for Class B, $6.50 for Class C, $4.86 for
Class R2, and $2.38 for Class R5; the hypothetical expenses paid would have
been $3.31 for Class A, $6.61 for Class B, $6.56 for Class C, $4.91 for
Class R2 and $2.41 for Class R5.
* Rounds to less than 0.01%.
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 7
PORTFOLIO OF INVESTMENTS -------------------------------------------------------
JUNE 30, 2010 (UNAUDITED)
(Percentages represent value of investments compared to net assets)
INVESTMENTS IN SECURITIES
<Table>
<Caption>
U.S. GOVERNMENT AGENCIES (66.9%)
AMOUNT
EFFECTIVE PAYABLE AT
ISSUER YIELD MATURITY VALUE(a)
Federal Home Loan Bank Discount Notes
07-02-10 0.070% $7,000,000 $6,999,973
07-07-10 0.150 5,000,000 4,999,858
07-14-10 0.170 4,000,000 3,999,740
07-28-10 0.140 3,000,000 2,999,685
08-04-10 0.160 13,000,000 12,998,045
08-06-10 0.180 2,400,000 2,399,544
Federal Home Loan Mortgage Corp. Discount Notes
07-12-10 0.170 5,000,000 4,999,725
07-19-10 0.170 4,000,000 3,999,640
07-27-10 0.160 2,500,000 2,499,711
08-13-10 0.140 5,000,000 4,999,164
10-13-10 0.250 2,000,000 1,998,556
Federal National Mortgage Association Discount Notes
07-14-10 0.160 6,100,000 6,099,615
07-15-10 0.050 5,000,000 4,999,903
07-21-10 0.170 8,900,000 8,899,136
08-02-10 0.100 7,600,000 7,599,302
09-08-10 0.150 6,000,000 5,998,275
U.S. Treasury Bills
07-15-10 0.060 5,000,000 4,999,883
07-29-10 0.160 10,000,000 9,998,756
- -------------------------------------------------------------------------------------
TOTAL U.S. GOVERNMENT AGENCIES
(Cost: $101,488,511) $101,488,511
- -------------------------------------------------------------------------------------
<Caption>
REPURCHASE AGREEMENTS (23.4%)
AMOUNT
EFFECTIVE PAYABLE AT
ISSUER YIELD MATURITY VALUE(a)
BROKERAGE
Barclays Bank PLC
dated 06-30-10, matures 7/01/10,
repurchase price $35,500,010
(collateralized by: U.S. Treasury STRIPS
total market value $35,500,067)
07-01-10 2.750% $35,500,000 $35,500,000
- -------------------------------------------------------------------------------------
TOTAL REPURCHASE AGREEMENTS
(Cost: $35,500,000) $35,500,000
- -------------------------------------------------------------------------------------
<Caption>
MUNICIPAL NOTES (3.2%)
AMOUNT
EFFECTIVE PAYABLE AT
ISSUE DESCRIPTION (B,C) YIELD MATURITY VALUE(a)
Milwaukee Redevelopment Authority
Revenue Bonds
La Causa, Inc. Project
V.R.D.N. Series 2000 (U.S. Bank)
12-01-20 0.400% $2,360,000 $2,360,000
New Hampshire Health & Education Facilities Authority
Revenue Bonds
Dartmouth College
V.R.D.N. Series 2007A (JP Morgan Chase Bank)
06-01-31 0.160 2,490,000 2,490,000
- -------------------------------------------------------------------------------------
TOTAL MUNICIPAL NOTES
(Cost: $4,850,000) $4,850,000
- -------------------------------------------------------------------------------------
</Table>
See accompanying Notes to Portfolio of Investments.
- --------------------------------------------------------------------------------
8 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
- --------------------------------------------------------------------------------
<Table>
<Caption>
BONDS (6.6%)
COUPON PRINCIPAL
ISSUER RATE AMOUNT VALUE(a)
U.S. GOVERNMENT OBLIGATIONS & AGENCIES
Federal Home Loan Bank
05-25-11 0.660% $5,000,000 $4,999,576
06-07-11 0.750 5,000,000 5,000,000
- -------------------------------------------------------------------------------------
TOTAL BONDS
(Cost: $9,999,576) $9,999,576
- -------------------------------------------------------------------------------------
TOTAL INVESTMENTS IN SECURITIES
(Cost: $151,838,087)(d) $151,838,087
=====================================================================================
</Table>
NOTES TO PORTFOLIO OF INVESTMENTS
(a) Securities are valued by using policies described in Note 2 to the
financial statements.
(b) The Fund is entitled to receive principal and interest from the party, if
indicated in parentheses, after a day or a week's notice or upon maturity.
The maturity date disclosed represents the final maturity. Interest rate
varies to reflect current market conditions; rate shown is the effective
rate on June 30, 2010.
(c) The following abbreviations may be used in the portfolio descriptions:
<Table>
A.M.T. -- Alternative Minimum Tax
B.A.N. -- Bond Anticipation Note
C.P. -- Commercial Paper
R.A.N. -- Revenue Anticipation Note
T.A.N. -- Tax Anticipation Note
T.R.A.N. -- Tax & Revenue Anticipation Note
V.R. -- Variable Rate
V.R.D.B. -- Variable Rate Demand Bond
V.R.D.N. -- Variable Rate Demand Note
</Table>
(d) Also represents the cost of securities for federal income tax purposes at
June 30, 2010.
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 9
PORTFOLIO OF INVESTMENTS (continued) -------------------------------------------
FAIR VALUE MEASUREMENTS
Generally accepted accounting principles (GAAP) require disclosure regarding the
inputs and valuation techniques used to measure fair value and any changes in
valuation inputs or techniques. In addition, investments shall be disclosed by
major category.
The Fund categorizes its fair value measurements according to a three-level
hierarchy that maximizes the use of observable inputs and minimizes the use of
unobservable inputs by prioritizing that the most observable input be used when
available. Observable inputs are those that market participants would use in
pricing an investment based on market data obtained from sources independent of
the reporting entity. Unobservable inputs are those that reflect the Fund's
assumptions about the information market participants would use in pricing an
investment. An investment's level within the fair value hierarchy is based on
the lowest level of any input that is deemed significant to the asset or
liability's fair value measurement. The input levels are not necessarily an
indication of the risk or liquidity associated with investments at that level.
For example, certain U.S. government securities are generally high quality and
liquid, however, they are reflected as Level 2 because the inputs used to
determine fair value may not always be quoted prices in an active market.
Fair value inputs are summarized in the three broad levels listed below:
- Level 1 -- Valuations based on quoted prices for investments in active
markets that the Fund has the ability to access at the measurement date.
Valuation adjustments are not applied to Level 1 investments.
- Level 2 -- Valuations based on other significant observable inputs
(including quoted prices for similar securities, interest rates,
prepayment speeds, credit risks, etc.).
- Level 3 -- Valuations based on significant unobservable inputs (including
the Fund's own assumptions and judgment in determining the fair value of
investments).
Inputs that are used in determining fair value of an investment may include
price information, credit data, volatility statistics, and other factors. These
inputs can be either observable or unobservable. The availability of observable
inputs can vary between investments, and is affected by various factors such as
the type of investment, and the volume and level of activity for that investment
or similar investments in the marketplace. The inputs will be considered by the
Fund Administrator, along with any other relevant factors in the calculation of
an investment's fair value. The Fund uses prices and inputs that are current as
of the measurement date, which may include periods of market dislocations.
During these periods, the availability of prices and inputs may be reduced for
many investments. This condition could cause an investment to be reclassified
between the various levels within the hierarchy.
Short-term securities are valued using amortized cost, as permitted under Rule
2a-7 of the Investment Company Act of 1940, as amended. Generally, amortized
cost approximates the current fair value of these securities, but because the
value is not obtained from a quoted price in an active market, such securities
are reflected as Level 2.
Investments falling into the Level 3 category are primarily supported by quoted
prices from brokers and dealers participating in the market for those
investments. However, these may be classified as
- --------------------------------------------------------------------------------
10 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
- --------------------------------------------------------------------------------
FAIR VALUE MEASUREMENTS (CONTINUED)
Level 3 investments due to lack of market transparency and corroboration to
support these quoted prices. Additionally, valuation models may be used as the
pricing source for any remaining investments classified as Level 3. These models
rely on one or more significant unobservable inputs and/or significant
assumptions by the Fund Administrator. Inputs used in a valuation model may
include, but are not limited to, financial statement analysis, discount rates
and estimated cash flows, and comparable company data.
The following table is a summary of the inputs used to value the Fund's
investments as of June 30, 2010:
<Table>
<Caption>
FAIR VALUE AT JUNE 30, 2010
-------------------------------------------------------------------
LEVEL 1 LEVEL 2
QUOTED PRICES OTHER LEVEL 3
IN ACTIVE SIGNIFICANT SIGNIFICANT
MARKETS FOR OBSERVABLE UNOBSERVABLE
DESCRIPTION(A) IDENTICAL ASSETS(B) INPUTS INPUTS TOTAL
- ----------------------------------------------------------------------------------------------
Short-Term Securities
U.S. Government
Agencies $-- $101,488,511 $-- $101,488,511
Repurchase Agreements -- 35,500,000 -- 35,500,000
- ----------------------------------------------------------------------------------------------
Total Short-Term
Securities -- 136,988,511 -- 136,988,511
- ----------------------------------------------------------------------------------------------
Other
Municipal Notes -- 4,850,000 -- 4,850,000
- ----------------------------------------------------------------------------------------------
Total Other -- 4,850,000 -- 4,850,000
- ----------------------------------------------------------------------------------------------
Bonds
U.S. Government
Obligations &
Agencies -- 9,999,576 -- 9,999,576
- ----------------------------------------------------------------------------------------------
Total Bonds -- 9,999,576 -- 9,999,576
- ----------------------------------------------------------------------------------------------
Total $-- $151,838,087 $-- $151,838,087
- ----------------------------------------------------------------------------------------------
</Table>
(a) See the Portfolio of Investments for all investment classifications not
indicated in the table.
(b) There were no significant transfers between Levels 1 and 2 during the
period.
HOW TO FIND INFORMATION ABOUT THE FUND'S QUARTERLY PORTFOLIO HOLDINGS
(i) The Fund files its complete schedule of portfolio holdings with the
Securities and Exchange Commission (Commission) for the first and third
quarters of each fiscal year on Form N-Q;
(ii) The Fund's Forms N-Q are available on the Commission's website at
http://www.sec.gov;
(iii)The Fund's Forms N-Q may be reviewed and copied at the Commission's Public
Reference Room in Washington, DC (information on the operations of the
Public Reference Room may be obtained by calling 800.SEC.0330); and
(iv) The Fund's complete schedule of portfolio holdings, as filed on Form N-Q,
can be obtained without charge, upon request, by calling 800.221.2450.
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 11
STATEMENT OF ASSETS AND LIABILITIES -------------------------------------------
JUNE 30, 2010 (UNAUDITED)
<Table>
<Caption>
ASSETS
Investments in securities, at value (identified cost
$151,838,087) $151,838,087
Cash 310,189
Receivable from Investment Manager 4,071
Capital shares receivable 131,856
Accrued interest receivable 10,403
Other assets 3,719
- -------------------------------------------------------------------------------
Total assets 152,298,325
- -------------------------------------------------------------------------------
LIABILITIES
Dividends payable to shareholders 359
Capital shares payable 428,369
Accrued investment management services fees 1,376
Accrued distribution fees 92
Accrued transfer agency fees 1,007
Accrued administrative services fees 250
Accrued plan administration services fees 1,708
Other accrued expenses 168,558
- -------------------------------------------------------------------------------
Total liabilities 601,719
- -------------------------------------------------------------------------------
Net assets applicable to outstanding capital stock $151,696,606
- -------------------------------------------------------------------------------
REPRESENTED BY
Capital stock -- $.01 par value $ 1,516,863
Additional paid-in capital 150,182,648
Excess of distributions over net investment income (2,621)
Accumulated net realized gain (loss) (284)
- -------------------------------------------------------------------------------
Total -- representing net assets applicable to outstanding
capital stock $151,696,606
- -------------------------------------------------------------------------------
</Table>
<Table>
<Caption>
NET ASSET VALUE PER SHARE
NET ASSETS SHARES OUTSTANDING NET ASSET VALUE PER SHARE
Class A $127,368,413 127,379,196 $1.00
Class B $ 4,466,688 4,465,262 $1.00
Class C $ 15,415,936 15,395,986 $1.00
Class R2 $ 4,105,610 4,105,921 $1.00
Class R5 $ 339,959 339,950 $1.00
- ------------------------------------------------------------------------------
</Table>
The accompanying Notes to Financial Statements are an integral part of this
statement.
- --------------------------------------------------------------------------------
12 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
STATEMENT OF OPERATIONS --------------------------------------------------------
SIX MONTHS ENDED JUNE 30, 2010 (UNAUDITED)
<Table>
<Caption>
INVESTMENT INCOME
Income:
Interest $ 107,692
Income from securities lending -- net 1,345
- ----------------------------------------------------------------------------
Total income 109,037
- ----------------------------------------------------------------------------
Expenses:
Investment management services fees 220,740
Distribution fees
Class A 27,456
Class B 17,162
Class C 30,841
Class R2 2,423
Transfer agency fees
Class A 115,179
Class B 5,020
Class C 15,534
Class R2 1,034
Class R5 56
Administrative services fees 40,134
Plan administration services fees -- Class R2 4,534
Compensation of board members 2,310
Custodian fees 3,745
Printing and postage 31,400
Registration fees 35,380
Professional fees 12,805
Other 28,527
- ----------------------------------------------------------------------------
Total expenses 594,280
Expenses waived/reimbursed by the Investment Manager and its
affiliates (491,266)
- ----------------------------------------------------------------------------
Total net expenses 103,014
- ----------------------------------------------------------------------------
Investment income (loss) -- net $ 6,023
- ----------------------------------------------------------------------------
</Table>
The accompanying Notes to Financial Statements are an integral part of this
statement.
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 13
STATEMENTS OF CHANGES IN NET ASSETS --------------------------------------------
<Table>
<Caption>
SIX MONTHS ENDED YEAR ENDED
JUNE 30, 2010 DEC. 31, 2009
(UNAUDITED)
OPERATIONS AND DISTRIBUTIONS
Net increase (decrease) in net assets resulting from operations $ 6,023 $ 42,113
- --------------------------------------------------------------------------------------------------
Distributions to shareholders from:
Net investment income
Class A (5,098) (37,211)
Class B (205) (579)
Class C (629) (1,493)
Class C2* -- (65)
Class R2 (180) (296)
Class R5 (10) (4,990)
- --------------------------------------------------------------------------------------------------
Total distributions (6,122) (44,634)
- --------------------------------------------------------------------------------------------------
</Table>
- --------------------------------------------------------------------------------
14 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
- --------------------------------------------------------------------------------
<Table>
<Caption>
SIX MONTHS ENDED YEAR ENDED
JUNE 30, 2010 DEC. 31, 2009
(UNAUDITED)
CAPITAL SHARE TRANSACTIONS AT A CONSTANT $1 NET ASSET VALUE
Proceeds from sales
Class A shares $ 29,515,039 $ 111,251,313
Class B shares 1,367,164 2,700,244
Class C shares 7,797,817 9,024,006
Class R2 shares 1,901,170 3,308,763
Class R5 shares 211,069 12,630,747
Fund merger (Note 6)
Class A shares 56,730,437 N/A
Reinvestment of distributions at net asset value
Class A shares 4,619 39,430
Class B shares 178 470
Class C shares 575 1,298
Class C2 shares* N/A 56
Class R2 shares 171 284
Class R5 shares 9 5,691
Conversions from Class B to Class A
Class A shares 462,148 789,457
Class B shares (462,148) (789,457)
Conversions from Class C2 to Class A*
Class A shares N/A 2,491,332
Class C2 shares N/A (2,491,332)
Payments for redemptions
Class A shares (49,221,883) (148,817,648)
Class B shares (1,183,938) (4,105,737)
Class C shares (5,921,334) (12,056,427)
Class C2 shares* N/A (359,865)
Class R2 shares (929,757) (1,820,362)
Class R5 shares (2) (32,945,721)
- --------------------------------------------------------------------------------------------------
Increase (decrease) in net assets from capital share transactions 40,271,334 (61,143,458)
- --------------------------------------------------------------------------------------------------
Total increase (decrease) in net assets 40,271,235 (61,145,979)
Net assets at beginning of period 111,425,371 172,571,350
- --------------------------------------------------------------------------------------------------
Net assets at end of period $151,696,606 $ 111,425,371
- --------------------------------------------------------------------------------------------------
Excess of distributions over net investment income $ (2,621) $ (2,521)
- --------------------------------------------------------------------------------------------------
</Table>
* Effective March 27, 2009, Class C2 shares converted to Class A shares.
The accompanying Notes to Financial Statements are an integral part of this
statement.
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 15
FINANCIAL HIGHLIGHTS -----------------------------------------------------------
The following tables are intended to help you understand the Fund's financial
performance. Certain information reflects financial results for a single share
of a class held for the periods shown. Per share net investment income (loss)
amounts are calculated based on average shares outstanding during the period.
Total returns assume reinvestment of all dividends and distributions. Total
returns do not reflect payment of sales charges, if any, and are not annualized
for periods of less than one year.
<Table>
<Caption>
SIX MONTHS ENDED YEAR ENDED DEC. 31,
CLASS A JUNE 30, 2010 -------------------------------------------------
PER SHARE DATA (UNAUDITED) 2009 2008 2007 2006 2005
Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss) .00(a) .00(a) .01 .04 .04 .02
- --------------------------------------------------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends from net investment income (.00)(a) (.00)(a) (.01)(b) (.04) (.04) (.02)
- --------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------------------------------------------------
TOTAL RETURN .00%(c) .03% 1.12% 4.09% 3.95% 2.20%
- --------------------------------------------------------------------------------------------------------------------------
RATIOS TO AVERAGE NET ASSETS
Gross expenses prior to expense
waiver/reimbursement .82%(d) 1.14% .91% .86% .90% .86%
- --------------------------------------------------------------------------------------------------------------------------
Net expenses after expense
waiver/reimbursement(e) .16%(d) .25% .79% .86% .90% .86%
- --------------------------------------------------------------------------------------------------------------------------
Net investment income (loss) .01%(d) .03% 1.07% 4.03% 3.86% 2.15%
- --------------------------------------------------------------------------------------------------------------------------
SUPPLEMENTAL DATA
Net assets, end of period (in millions) $127 $90 $124 $133 $124 $133
- --------------------------------------------------------------------------------------------------------------------------
</Table>
See accompanying Notes to Financial Highlights.
- --------------------------------------------------------------------------------
16 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
- --------------------------------------------------------------------------------
<Table>
<Caption>
SIX MONTHS ENDED YEAR ENDED DEC. 31,
CLASS B JUNE 30, 2010 -------------------------------------------------------
PER SHARE DATA (UNAUDITED) 2009 2008 2007 2006 2005
Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss) .00(a) .00(a) .00(a) .03 .03 .01
- --------------------------------------------------------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends from net investment income (.00)(a) (.00)(a) (.00)(a),(b) (.03) (.03) (.01)
- --------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------------------------------------------------------
TOTAL RETURN .00%(c) .01% .35% 3.00% 2.85% 1.11%
- --------------------------------------------------------------------------------------------------------------------------------
RATIOS TO AVERAGE NET ASSETS
Gross expenses prior to expense
waiver/reimbursement 1.54%(d) 1.99% 1.91% 1.86% 1.89% 1.86%
- --------------------------------------------------------------------------------------------------------------------------------
Net expenses after expense
waiver/reimbursement(e) .15%(d) .29% 1.53% 1.86% 1.89% 1.85%
- --------------------------------------------------------------------------------------------------------------------------------
Net investment income (loss) .01%(d) .00%(c) .33% 3.03% 2.86% 1.16%
- --------------------------------------------------------------------------------------------------------------------------------
SUPPLEMENTAL DATA
Net assets, end of period (in millions) $4 $5 $7 $7 $9 $13
- --------------------------------------------------------------------------------------------------------------------------------
</Table>
See accompanying Notes to Financial Highlights.
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 17
FINANCIAL HIGHLIGHTS (continued) -----------------------------------------------
<Table>
<Caption>
SIX MONTHS ENDED YEAR ENDED DEC. 31,
CLASS C JUNE 30, 2010 -------------------------------------------------------
PER SHARE DATA (UNAUDITED) 2009 2008 2007 2006 2005
Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss) .00(a) .00(a) .00(a) .03 .03 .01
- --------------------------------------------------------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends from net investment income (.00)(a) (.00)(a) (.00)(a),(b) (.03) (.03) (.01)
- --------------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------------------------------------------------------
TOTAL RETURN .00%(c) .01% .35% 3.00% 2.85% 1.11%
- --------------------------------------------------------------------------------------------------------------------------------
RATIOS TO AVERAGE NET ASSETS
Gross expenses prior to expense
waiver/reimbursement 1.21%(d) 1.96% 1.91% 1.86% 1.89% 1.86%
- --------------------------------------------------------------------------------------------------------------------------------
Net expenses after expense
waiver/reimbursement(e) .15%(d) .28% 1.53% 1.86% 1.89% 1.85%
- --------------------------------------------------------------------------------------------------------------------------------
Net investment income (loss) .01%(d) .00%(c) .33% 3.03% 2.86% 1.16%
- --------------------------------------------------------------------------------------------------------------------------------
SUPPLEMENTAL DATA
Net assets, end of period (in millions) $15 $14 $17 $14 $13 $13
- --------------------------------------------------------------------------------------------------------------------------------
</Table>
See accompanying Notes to Financial Highlights.
- --------------------------------------------------------------------------------
18 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
- --------------------------------------------------------------------------------
<Table>
<Caption>
SIX MONTHS ENDED YEAR ENDED DEC. 31,
CLASS R2 JUNE 30, 2010 -------------------------------------------------
PER SHARE DATA (UNAUDITED) 2009 2008 2007 2006 2005
Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss) .00(a) .00(a) .01 .04 .04 .02
- --------------------------------------------------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends from net investment income (.00)(a) (.00)(a) (.01)(b) (.04) (.04) (.02)
- --------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------------------------------------------------
TOTAL RETURN .00%(c) .01% .93% 3.83% 3.69% 1.94%
- --------------------------------------------------------------------------------------------------------------------------
RATIOS TO AVERAGE NET ASSETS
Gross expenses prior to expense
waiver/reimbursement 1.01%(d) 1.32% 1.16% 1.11% 1.15% 1.11%
- --------------------------------------------------------------------------------------------------------------------------
Net expenses after expense
waiver/reimbursement(e) .15%(d) .22% 1.01% 1.11% 1.15% 1.11%
- --------------------------------------------------------------------------------------------------------------------------
Net investment income (loss) .01%(d) .00%(c) .84% 3.78% 3.61% 1.90%
- --------------------------------------------------------------------------------------------------------------------------
SUPPLEMENTAL DATA
Net assets, end of period (in millions) $4 $3 $2 $1 $-- $--
- --------------------------------------------------------------------------------------------------------------------------
</Table>
See accompanying Notes to Financial Highlights.
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 19
FINANCIAL HIGHLIGHTS (continued) -----------------------------------------------
<Table>
<Caption>
SIX MONTHS ENDED YEAR ENDED DEC. 31,
CLASS R5 JUNE 30, 2010 -------------------------------------------------
PER SHARE DATA (UNAUDITED) 2009 2008 2007 2006 2005
Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss) .00(a) .00(a) .01 .04 .04 .02
- --------------------------------------------------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends from net investment income (.00)(a) (.00)(a) (.01)(b) (.04) (.04) (.02)
- --------------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
- --------------------------------------------------------------------------------------------------------------------------
TOTAL RETURN .01% .03% 1.38% 4.36% 4.23% 2.48%
- --------------------------------------------------------------------------------------------------------------------------
RATIOS TO AVERAGE NET ASSETS
Gross expenses prior to expense
waiver/reimbursement .61%(d) .94% .63% .59% .60% .58%
- --------------------------------------------------------------------------------------------------------------------------
Net expenses after expense
waiver/reimbursement(e) .16%(d) .36% .53% .59% .60% .58%
- --------------------------------------------------------------------------------------------------------------------------
Net investment income (loss) .01%(d) .06% 1.33% 4.30% 4.16% 2.43%
- --------------------------------------------------------------------------------------------------------------------------
SUPPLEMENTAL DATA
Net assets, end of period (in millions) $-- $-- $20 $15 $12 $13
- --------------------------------------------------------------------------------------------------------------------------
</Table>
NOTES TO FINANCIAL HIGHLIGHTS
(a) Rounds to less than $0.01 per share.
(b) In addition, the Fund paid a short-term capital gain distribution of
$0.000146 on July 25, 2008.
(c) Rounds to less than 0.01%.
(d) Annualized.
(e) The Investment Manager and its affiliates agreed to waive/reimburse certain
fees and expenses.
The accompanying Notes to Financial Statements are an integral part of this
statement.
- --------------------------------------------------------------------------------
20 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
NOTES TO FINANCIAL STATEMENTS --------------------------------------------------
(UNAUDITED AS OF JUNE 30, 2010)
1. ORGANIZATION
RiverSource Government Money Market Fund, Inc. (formerly Seligman Cash
Management Fund) (the Fund) is registered under the Investment Company Act of
1940, as amended (the 1940 Act), as a diversified, open-end management
investment company. The Fund has 1.4 billion authorized shares of capital stock.
The Fund will normally invest at least 80% of its net assets in high-quality,
short-term money market securities that are issued or guaranteed by the U.S.
government, its agencies or instrumentalities.
The Fund offers Class A, Class B, Class C, Class R2 and Class R5 shares.
- - Class A shares have no sales charge.
- - Class B shares may be subject to a contingent deferred sales charge (CDSC)
and automatically convert to Class A shares one month after the completion of
the eighth year of ownership if originally purchased in a RiverSource fund on
or after May 21, 2005 or originally purchased in a Seligman fund on or after
June 13, 2009. Class B shares originally purchased in a RiverSource fund
prior to May 21, 2005 will convert to Class A shares in the ninth calendar
year of ownership. Class B shares originally purchased in a Seligman fund
prior to June 13, 2009 will convert to Class A shares in the month prior to
the ninth year of ownership. Effective Sept. 7, 2010, the Fund will not
accept investments from new or existing investors in the Fund's Class B
shares, except that (i) dividend and/or capital gain distributions may
continue to be reinvested in Class B shares of the Fund and (ii) shareholders
invested in Class B shares of the Fund may exchange those shares for Class B
shares of other Columbia, Columbia Acorn, RiverSource, Seligman and
Threadneedle funds offering such shares.
- - Class C shares may be subject to a CDSC.
- - Class R2 and Class R5 shares are offered without a front-end sales charge or
CDSC to qualifying institutional investors.
All classes of shares have identical voting, dividend and liquidation rights.
Class specific expenses (e.g., distribution and service fees, transfer agency
fees, plan administration services fees) differ among classes. Income, expenses
(other than class specific expenses) and realized and unrealized gains or losses
on investments are allocated to each class of shares based upon its relative net
assets.
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 21
NOTES TO FINANCIAL STATEMENTS (continued) --------------------------------------
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
USE OF ESTIMATES
Preparing financial statements that conform to U.S. generally accepted
accounting principles requires management to make estimates (e.g., on assets,
liabilities and contingent assets and liabilities) that could differ from actual
results.
VALUATION OF SECURITIES
Pursuant to Rule 2a-7 of the 1940 Act, all securities are valued daily at
amortized cost, which approximates market value.
GUARANTEES AND INDEMNIFICATIONS
Under the Fund's organizational documents, its officers and directors are
indemnified against certain liabilities arising out of the performance of their
duties to the Fund. In addition, certain of the Fund's contracts with its
service providers contain general indemnification clauses. The Fund's maximum
exposure under these arrangements is unknown since the amount of any future
claims that may be made against the Fund cannot be determined and the Fund has
no historical basis for predicting the likelihood of any such claims.
FEDERAL TAXES
The Fund's policy is to comply with Subchapter M of the Internal Revenue Code
that applies to regulated investment companies and to distribute substantially
all of its taxable income (which includes net short-term capital gains) to
shareholders. No provision for income or excise taxes is thus required.
Management of the Fund has concluded that there are no significant uncertain tax
positions that would require recognition in the financial statements. Generally,
the tax authorities can examine all tax returns filed for the last three years.
DIVIDENDS TO SHAREHOLDERS
Dividends from net investment income, declared daily and payable monthly, are
reinvested in additional shares of the Fund at net asset value or payable in
cash.
OTHER
Security transactions are accounted for on the date securities are purchased or
sold. Interest income, including amortization of premium and discount, is
recognized daily.
- --------------------------------------------------------------------------------
22 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
- --------------------------------------------------------------------------------
3. EXPENSES AND SALES CHARGES
INVESTMENT MANAGEMENT SERVICES FEES
Under an Investment Management Services Agreement, Columbia Management
Investment Advisers, LLC (formerly known as RiverSource Investments, LLC) (the
Investment Manager) determines which securities will be purchased, held or sold.
The management fee is an annual fee that is equal to a percentage of the Fund's
average daily net assets that declines from 0.33% to 0.15% as the Fund's net
assets increase. The management fee for the six months ended June 30, 2010 was
0.33% of the Fund's average daily net assets.
ADMINISTRATIVE SERVICES FEES
Under an Administrative Services Agreement, the Fund pays Ameriprise Financial
an annual fee for administration and accounting services equal to a percentage
of the Fund's average daily net assets that declines from 0.06% to 0.03% as the
Fund's net assets increase. The fee for the six months ended June 30, 2010 was
0.06% of the Fund's average daily net assets.
OTHER FEES
Other expenses are for, among other things, certain expenses of the Fund or the
Fund's Board of Directors (the Board) including: Fund boardroom and office
expense, employee compensation, employee health and retirement benefits, and
certain other expenses. Payment of these Fund and Board expenses is facilitated
by a company providing limited administrative services to the Fund and the
Board. For the six months ended June 30, 2010, there were no expenses incurred
for these particular items.
COMPENSATION OF BOARD MEMBERS
Under a Deferred Compensation Plan (the Plan), the board members who are not
"interested persons" of the Fund under the 1940 Act may defer receipt of their
compensation. Deferred amounts are treated as though equivalent dollar amounts
had been invested in shares of the Fund or other RiverSource, Seligman and
Threadneedle funds. The Fund's liability for these amounts is adjusted for
market value changes and remains in the funds until distributed in accordance
with the Plan.
TRANSFER AGENCY FEES
Under a Transfer Agency Agreement, Columbia Management Investment Services Corp.
(formerly known as RiverSource Service Corporation) (the Transfer Agent)
maintains Fund shareholder accounts and records and provides Fund shareholder
services. The Fund pays the Transfer Agent an annual account-based fee at a rate
equal to $22.00 for Class A, $23.00 for Class B and $22.50 for Class C for this
service. The Transfer Agent also charges an annual fee of $3 per account
serviced directly by the Fund or its designated agent for Class A,
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 23
NOTES TO FINANCIAL STATEMENTS (continued) --------------------------------------
Class B and Class C shares. The Fund also pays the Transfer Agent an annual
asset-based fee at a rate of 0.05% of the Fund's average daily net assets
attributable to Class R2 and Class R5 shares. The Transfer Agent charges an
annual fee of $5 per inactive account, charged on a pro rata basis for the 12
month period from the date the account becomes inactive. The Transfer Agent also
receives reimbursement for certain out-of-pocket expenses. These fees are
included in the transfer agency fees in the Statement of Operations.
The Fund and certain other associated investment companies (together, the
Guarantors) have severally, but not jointly, guaranteed the performance and
observance of all the terms and conditions of a lease entered into by Seligman
Data Corp. (SDC), the former transfer agent, including the payment of rent by
SDC (the Guaranty). The lease and the Guaranty expire in January 2019. At June
30, 2010, the Fund's total potential future obligation over the life of the
Guaranty is $193,665. The liability remaining at June 30, 2010 for Non-Recurring
Charges amounted to $99,100 and is included within other accrued expenses in the
Statement of Assets and Liabilities. SDC is owned by six associated investment
companies, including the Fund. The Fund's ownership interest in SDC at June 30,
2010 is included in other assets in the Statement of Assets and Liabilities at
cost of $3,719.
PLAN ADMINISTRATION SERVICES FEES
Under a Plan Administration Services Agreement with the Transfer Agent, the Fund
pays an annual fee at a rate of 0.25% of the Fund's average daily net assets
attributable to Class R2 shares for the provision of various administrative,
recordkeeping, communication and educational services.
DISTRIBUTION FEES
The Fund has an agreement with Columbia Management Investment Distributors, Inc.
(formerly known as RiverSource Fund Distributors, Inc.) (the Distributor) for
distribution and shareholder services. Under a Plan and Agreement of
Distribution pursuant to Rule 12b-1, the Fund pays a fee at an annual rate of up
to 0.25% and 0.50% of the Fund's average daily net assets attributable to Class
A and Class R2 shares, respectively, and a fee at an annual rate of up to 1.00%
of the Fund's average daily net assets attributable to Class B and Class C
shares. For Class B and Class C shares, of the 1.00% fee, up to 0.75% was
reimbursed for distribution expenses. For the six months ended June 30, 2010,
the Distributor agreed not to be reimbursed by the Fund for distribution (12b-1)
fees equal to 0.75% of the 1.00% fee for Class B shares. For the period from
Jan. 1, 2010 through April 15, 2010, the Distributor agreed not to be reimbursed
by the Fund for distribution (12b-1) fees equal to 0.10% of the 0.25% fee for
Class A shares and Class C shares and 0.25% of the 0.50% fee for Class R2
shares. Effective
- --------------------------------------------------------------------------------
24 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
- --------------------------------------------------------------------------------
April 15, 2010, the Distributor agreed not to be reimbursed by the Fund for the
entire amount of distribution (12b-1) fees it receives from Class A, Class C and
Class R2 shares.
The amount of distribution expenses incurred by the Distributor and not yet
reimbursed (unreimbursed expense) was approximately $118,000 and $3,024,000 for
Class B and Class C shares, respectively. These amounts are based on the most
recent information available as of April 30, 2010, and may be recovered from
future payments under the distribution plan or CDSC. To the extent the
unreimbursed expense has been fully recovered, the distribution fee is reduced.
SALES CHARGES
CDSCs received by the Distributor for distributing Fund shares were $4,294 for
Class B and $1,053 for Class C for the six months ended June 30, 2010.
EXPENSES WAIVED/REIMBURSED BY THE INVESTMENT MANAGER AND ITS AFFILIATES
For the six months ended June 30, 2010, the Investment Manager and its
affiliates waived/reimbursed certain fees and expenses such that net expenses
were as follows:
<Table>
Class A.............................................. 0.16%
Class B.............................................. 0.15
Class C.............................................. 0.15
Class R2............................................. 0.15
Class R5............................................. 0.16
</Table>
The waived/reimbursed fees and expenses for the transfer agency fees and other
fees at the class level were as follows:
<Table>
Class A........................................... $142,635
Class B........................................... 22,182
Class C........................................... 46,375
Class R2.......................................... 7,991
Class R5.......................................... 56
</Table>
The management fees and other Fund level expenses waived/reimbursed were
$272,027.
The Investment Manager and its affiliates have contractually agreed to waive
certain fees and reimburse certain expenses until Feb. 28, 2011, unless sooner
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 25
NOTES TO FINANCIAL STATEMENTS (continued) --------------------------------------
terminated at the sole discretion of the Board, such that net expenses will not
exceed the following percentage of the class' average daily net assets:
<Table>
Class A.............................................. 0.66%
Class B.............................................. 1.32
Class C.............................................. 1.31
Class R2............................................. 0.98
Class R5............................................. 0.48
</Table>
In addition, from time to time, the Investment Manager and its affiliates may
waive or absorb expenses of the Fund for the purpose of allowing the Fund to
avoid a negative net yield or to increase the Fund's positive net yield. The
Fund's yield would be negative if Fund expenses exceed Fund income. Any such
expense limitation is voluntary and may be revised or terminated at any time
without notice.
4. LENDING OF PORTFOLIO SECURITIES
The Fund has entered into a Master Securities Lending Agreement (the Agreement)
with JPMorgan Chase Bank, National Association (JPMorgan). The Agreement
authorizes JPMorgan as lending agent to lend securities to authorized borrowers
in order to generate additional income on behalf of the Fund. Pursuant to the
Agreement, the securities loaned are secured by cash or U.S. government
securities equal to at least 100% of the market value of the loaned securities.
Any additional collateral required to maintain those levels due to market
fluctuations of the loaned securities is delivered the following business day.
Cash collateral received is invested by the lending agent on behalf of the Fund
into authorized investments pursuant to the Agreement. The investments made with
the cash collateral are listed in the Portfolio of Investments. The values of
such investments and any uninvested cash collateral are disclosed in the
Statement of Assets and Liabilities along with the related obligation to return
the collateral upon the return of the securities loaned. At June 30, 2010, the
Fund had no securities on loan.
Risks of delay in recovery of securities or even loss of rights in the
securities may occur should the borrower of the securities fail financially.
Risks may also arise to the extent that the value of the securities loaned
increases above the value of the collateral received. JPMorgan will indemnify
the Fund from losses resulting from a borrower's failure to return a loaned
security when due. Such indemnification does not extend to losses associated
with declines in the value of cash collateral investments. Loans are subject to
termination by the Fund or the borrower at any time, and are, therefore, not
considered to be illiquid investments.
- --------------------------------------------------------------------------------
26 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
- --------------------------------------------------------------------------------
Pursuant to the Agreement, the Fund receives income for lending its securities
either in the form of fees or by earning interest on invested cash collateral,
net of negotiated rebates paid to borrowers and fees paid to the lending agent
for services provided and any other securities lending expenses. Net income of
$1,345 earned from securities lending for the six months ended June 30, 2010 is
included in the Statement of Operations. The Fund also continues to earn
interest and dividends on the securities loaned.
5. BANK BORROWINGS
The Fund has entered into a revolving credit facility with a syndicate of banks
led by JPMorgan Chase Bank, N.A. (the Administrative Agent), whereby the Fund
may borrow for the temporary funding of shareholder redemptions or for other
temporary or emergency purposes. The credit facility agreement, which is a
collective agreement between the Fund and certain other RiverSource, Seligman
and Threadneedle funds, severally and not jointly, permits collective borrowings
up to $300 million. The borrowers shall have the right, upon written notice to
the Administrative Agent to request an increase of up to $200 million in the
aggregate amount of the credit facility from new or existing lenders, provided
that the aggregate amount of the credit facility shall at no time exceed $500
million. Participation in such increase by any existing lender shall be at such
lender's sole discretion. Interest is charged to the Fund based on its
borrowings at a rate equal to the sum of the federal funds rate plus (i) 1.25%
per annum plus (ii) if one-month LIBOR exceeds the federal funds rate, the
amount of such excess. Each borrowing under the credit facility matures no later
than 60 days after the date of borrowing. The Fund also pays a commitment fee
equal to its pro rata share of the amount of the credit facility at a rate of
0.10% per annum, in addition to an upfront fee equal to its pro rata share of
0.04% of the amount of the credit facility. The Fund had no borrowings during
the six months ended June 30, 2010.
6. FUND MERGER
At the close of business on March 26, 2010, RiverSource Government Money Market
Fund acquired the assets and assumed the identified liabilities of RiverSource
Tax-Exempt Money Market Fund. The reorganization was completed after
shareholders approved the plan on March 10, 2010.
The aggregate net assets of RiverSource Government Money Market Fund immediately
before the acquisition were $107,077,716 and the combined net assets immediately
after the acquisition were $163,808,153.
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 27
NOTES TO FINANCIAL STATEMENTS (continued) --------------------------------------
The merger was accomplished by a tax-free exchange of 56,730,372 shares of
RiverSource Tax-Exempt Money Market Fund valued at $56,730,437.
In exchange for RiverSource Tax-Exempt Money Market Fund shares and net assets,
RiverSource Government Money Market Fund issued 56,730,372 Class A shares.
For financial reporting purposes, net assets received and shares issued by
RiverSource Government Money Market Fund were recorded at fair value; however,
RiverSource Tax-Exempt Money Market Fund's cost of investments was carried
forward to align ongoing reporting of RiverSource Government Money Market Fund's
realized and unrealized gains and losses with amounts distributable to
shareholders for tax purposes.
The components of RiverSource Tax-Exempt Money Market Fund's net assets at the
merger date were as follows:
<Table>
Total net assets................................. $56,730,437
Capital stock.................................... $56,730,722
Excess of distributions over net investment
income......................................... $ (1)
Accumulated net realized loss.................... $ (284)
</Table>
The financial statements reflect the operations of RiverSource Government Money
Market Fund for the period prior to the merger and the combined fund for the
period subsequent to the merger. Because the combined investment portfolios have
been managed as a single integrated portfolio since the merger was completed, it
is not practicable to separate the amounts of revenue and earnings of
RiverSource Tax-Exempt Money Market Fund that have been included in the combined
Fund's Statement of Operations since the merger was completed. Assuming the
merger had been completed on Jan. 1, 2010, RiverSource Government Money Market
Fund's pro-forma net investment loss, net gain on investments, and net decrease
in net assets from operations for the six months ended June 30, 2010 would have
been $(1.1) million, $255 and $(1.1) million, respectively.
7. FEDERAL TAX INFORMATION
Net investment income (loss) and net realized gains (losses) may differ for
financial statement and tax purposes. The character of distributions made during
the year from net investment income or net realized gains may differ from their
ultimate characterization for federal income tax purposes. Also, due to the
timing of dividend distributions, the fiscal year in which amounts are
distributed may differ from the year that the income or realized gains (losses)
were recorded by the Fund.
- --------------------------------------------------------------------------------
28 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
- --------------------------------------------------------------------------------
8. SUBSEQUENT EVENTS
Management has evaluated Fund related events and transactions that occurred
during the period from the date of the Statement of Assets and Liabilities
through the date of issuance of the Fund's financial statements. There were no
events or transactions that occurred during the period that materially impacted
the amounts or disclosures in the Fund's financial statements.
9. INFORMATION REGARDING PENDING AND SETTLED LEGAL PROCEEDINGS
In June 2004, an action captioned John E. Gallus et al. v. American Express
Financial Corp. and American Express Financial Advisors Inc. was filed in the
United States District Court for the District of Arizona. The plaintiffs allege
that they are investors in several American Express Company (now known as
RiverSource) mutual funds and they purport to bring the action derivatively on
behalf of those funds under the Investment Company Act of 1940. The plaintiffs
allege that fees allegedly paid to the defendants by the funds for investment
advisory and administrative services are excessive. The plaintiffs seek remedies
including restitution and rescission of investment advisory and distribution
agreements. The plaintiffs voluntarily agreed to transfer this case to the
United States District Court for the District of Minnesota (the District Court).
In response to defendants' motion to dismiss the complaint, the District Court
dismissed one of plaintiffs' four claims and granted plaintiffs limited
discovery. Defendants moved for summary judgment in April 2007. Summary judgment
was granted in the defendants' favor on July 9, 2007. The plaintiffs filed a
notice of appeal with the Eighth Circuit Court of Appeals (the Eighth Circuit)
on August 8, 2007. On April 8, 2009, the Eighth Circuit reversed summary
judgment and remanded to the District Court for further proceedings. On August
6, 2009, defendants filed a writ of certiorari with the U.S. Supreme Court (the
Supreme Court), asking the Supreme Court to stay the District Court proceedings
while the Supreme Court considers and rules in a case captioned Jones v. Harris
Associates, which involves issues of law similar to those presented in the
Gallus case. On March 30, 2010, the Supreme Court issued its ruling in Jones v.
Harris Associates, and on April 5, 2010, the Supreme Court vacated the Eighth
Circuit's decision in the Gallus case and remanded the case to the Eighth
Circuit for further consideration in light of the Supreme Court's decision in
Jones v. Harris Associates. On June 4, 2010, the Eighth Circuit remanded the
Gallus case to the District Court for further consideration in light of the
Supreme Court's decision in Jones v. Harris Associates.
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 29
NOTES TO FINANCIAL STATEMENTS (continued) --------------------------------------
In December 2005, without admitting or denying the allegations, American Express
Financial Corporation (AEFC, which is now known as Ameriprise Financial, Inc.
(Ameriprise Financial)), entered into settlement agreements with the Securities
and Exchange Commission (SEC) and Minnesota Department of Commerce (MDOC)
related to market timing activities. As a result, AEFC was censured and ordered
to cease and desist from committing or causing any violations of certain
provisions of the Investment Advisers Act of 1940, the Investment Company Act of
1940, and various Minnesota laws. AEFC agreed to pay disgorgement of $10 million
and civil money penalties of $7 million. AEFC also agreed to retain an
independent distribution consultant to assist in developing a plan for
distribution of all disgorgement and civil penalties ordered by the SEC in
accordance with various undertakings detailed at
http://www.sec.gov/litigation/admin/ia-2451.pdf. Ameriprise Financial and its
affiliates have cooperated with the SEC and the MDOC in these legal proceedings,
and have made regular reports to the RiverSource, Seligman and Threadneedle
funds' Boards of Directors/Trustees.
Ameriprise Financial and certain of its affiliates have historically been
involved in a number of legal, arbitration and regulatory proceedings, including
routine litigation, class actions, and governmental actions, concerning matters
arising in connection with the conduct of their business activities. Ameriprise
Financial believes that the Funds are not currently the subject of, and that
neither Ameriprise Financial nor any of its affiliates are the subject of, any
pending legal, arbitration or regulatory proceedings that are likely to have a
material adverse effect on the Funds or the ability of Ameriprise Financial or
its affiliates to perform under their contracts with the Funds. Ameriprise
Financial is required to make 10-Q, 10-K and, as necessary, 8-K filings with the
Securities and Exchange Commission on legal and regulatory matters that relate
to Ameriprise Financial and its affiliates. Copies of these filings may be
obtained by accessing the SEC website at www.sec.gov.
There can be no assurance that these matters, or the adverse publicity
associated with them, will not result in increased fund redemptions, reduced
sale of fund shares or other adverse consequences to the Funds. Further,
although we believe proceedings are not likely to have a material adverse effect
on the Funds or the ability of Ameriprise Financial or its affiliates to perform
under their contracts with the Funds, these proceedings are subject to
uncertainties and, as such, we are unable to estimate the possible loss or range
of loss that may result. An adverse outcome in one or more of these proceedings
could result in adverse judgments, settlements, fines, penalties or other relief
that could have a material adverse effect on the consolidated financial
condition or results of operations of Ameriprise Financial.
- --------------------------------------------------------------------------------
30 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
APPROVAL OF INVESTMENT MANAGEMENT SERVICES
AGREEMENT ----------------------------------------------------------------------
Columbia Management Investment Advisers, LLC ("Columbia Management" or the
"investment manager"), formerly known as RiverSource Investments, LLC, a wholly-
owned subsidiary of Ameriprise Financial, Inc. ("Ameriprise Financial"), serves
as the investment manager to the Fund. Under an investment management services
agreement (the "IMS Agreement"), Columbia Management provides investment advice
and other services to the Fund and all RiverSource funds (collectively, the
"Funds").
On an annual basis, the Fund's Board of Directors (the "Board"), including the
independent Board members (the "Independent Directors"), considers renewal of
the IMS Agreement. Columbia Management prepared detailed reports for the Board
and its Contracts Committee in March and April 2010, including reports based on
data provided by independent organizations and a comprehensive response to each
item of information requested by independent legal counsel to the Independent
Directors ("Independent Legal Counsel") in a letter to the investment manager,
to assist the Board in making this determination. All of the materials presented
in March and April 2010 were first supplied in draft form to designated
representatives of the Independent Directors, i.e., Independent Legal Counsel,
the Chair of the Board and the Chair of the Contracts Committee (including
materials relating to the Fund's proposed revised expense cap), and the final
materials were revised to reflect comments provided by these Board
representatives. In addition, throughout the year, the Board (or its committees)
reviews information prepared by Columbia Management addressing the services
Columbia Management provides and Fund performance. The Board accords particular
weight to the work, deliberations and conclusions of the Contracts Committee,
the Investment Review Committee and the Compliance Committee in determining
whether to continue the IMS Agreement. At the April 6-8, 2010 in-person Board
meeting, Independent Legal Counsel reviewed with the Independent Directors
various factors relevant to the Board's consideration of advisory agreements and
the Board's legal responsibilities related to such consideration. Following an
analysis and discussion of the factors identified below, the Board, including
all of the Independent Directors, approved renewal of the IMS Agreement.
Nature, Extent and Quality of Services Provided by Columbia Management: The
Board analyzed various reports and presentations it had received detailing the
services performed by Columbia Management, as well as its expertise, resources
and capabilities. The Board specifically considered many developments during the
past year concerning the services provided by Columbia Management, including, in
particular, the continued investment in, and resources dedicated to, the Fund's
operations, most notably, management's announcement of the massive
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 31
APPROVAL OF INVESTMENT MANAGEMENT SERVICES
AGREEMENT (continued) ----------------------------------------------------------
investment made in the acquisition of the long-term asset management business of
Columbia Management Group, LLC (the "Columbia Transaction") and the completed
integration of J. & W. Seligman & Co. Incorporated, acquisitions which should
continue to enhance investment capabilities and provide access to a greater
depth of experienced portfolio managers in key categories. The Board noted, in
particular, that upon the close of the Columbia Transaction, the investment
manager will have grown to 10 investment offices (compared to 6 in 2009). In
addition, the Board reviewed information concerning the investment manager's new
Chief Investment Officer upon the close of the Columbia Transaction, including
the application of his particular investment philosophy, which is intended to
enhance the risk and portfolio management oversight of the entire fund family.
Moreover, in connection with the Board's evaluation of the overall package of
services provided by Columbia Management, the Board considered the quality of
the administrative and transfer agency services provided by Columbia
Management's affiliates to the Fund. The Board also reviewed the financial
condition of Columbia Management and its affiliates, and each entity's ability
to carry out its responsibilities under the IMS Agreement. Further, the Board
considered Columbia Management's ability to retain key personnel in certain
targeted areas and its expectations in this regard. The Board also discussed the
acceptability of the terms of the IMS Agreement (including the relatively broad
scope of services required to be performed by Columbia Management). The Board
concluded that the services being performed under the IMS Agreement were of a
reasonably high quality.
Based on the foregoing, and based on other information received (both oral and
written, including the information on investment performance referenced below)
and other considerations, the Board concluded that Columbia Management and its
affiliates were in a position to continue to provide a high quality and level of
services to the Fund.
Investment Performance: For purposes of evaluating the nature, extent and
quality of services provided under the IMS Agreement, the Board carefully
reviewed the investment performance of the Fund. In this regard, the Board
considered detailed reports containing data prepared by an independent
organization showing, for various periods, the performance of the Fund and the
net assets of the Fund. The Board observed that the Fund's investment
performance met expectations.
- --------------------------------------------------------------------------------
32 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
- --------------------------------------------------------------------------------
Comparative Fees, Costs of Services Provided and the Profits Realized By
Columbia Management and its Affiliates from their Relationships with the Fund:
The Board reviewed comparative fees and the costs of services to be provided
under the IMS Agreement. The Board members considered detailed comparative
information set forth in an annual report on fees and expenses, including, among
other things, data (prepared by an independent organization) showing a
comparison of the Fund's expenses with median expenses paid by funds in its peer
group, as well as data showing the Fund's contribution to Columbia Management's
profitability. They also reviewed information in the report showing the fees
charged by Columbia Management to other client accounts (with similar investment
strategies to those of the Fund).
The Board accorded particular weight to the notion that the level of fees should
reflect a rational pricing model applied consistently across the various product
lines in the Funds' family, while assuring that the overall fees for each fund
(with few defined exceptions) are generally in line with the "pricing
philosophy" (i.e., that the total expense ratio of each fund, with few
exceptions, is at or below the median expense ratio of funds in the same
comparison group). The Board took into account that the Fund's total expense
ratio (after considering proposed expense caps/waivers) approximated the peer
group's median expense ratio. Based on its review, the Board concluded that the
Fund's management fee was fair and reasonable in light of the extent and quality
of services that the Fund receives.
The Board also considered various preliminary integration plans in connection
with the Columbia Transaction which, if implemented, would impact the fee
structures of various RiverSource Funds. The Board was satisfied with the
principles underlying these plans, which, at their preliminary stage, are
designed to achieve a rational, consistent pricing model across the combined
fund families, as well as preserve the "pricing philosophy" of the Funds.
The Board also considered the expected profitability of Columbia Management and
its affiliates in connection with Columbia Management providing investment
management services to the Fund. In this regard, the Board referred to a
detailed profitability report, discussing the profitability to Columbia
Management and Ameriprise Financial from managing and operating the Fund,
including data showing comparative profitability over the past two years. In
this regard, the Board observed slightly reduced profitability in 2009 vs. 2008.
The Board also considered the services acquired by the investment manager
through the use of commission dollars paid by the Funds on portfolio
transactions. The Board noted that the fees paid by the Fund should permit the
investment manager to offer
- --------------------------------------------------------------------------------
RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT 33
APPROVAL OF INVESTMENT MANAGEMENT SERVICES
AGREEMENT (continued) ----------------------------------------------------------
competitive compensation to its personnel, make necessary investments in its
business and earn an appropriate profit. The Board concluded that profitability
levels were reasonable.
Economies of Scale to be Realized: The Board also considered the economies of
scale that might be realized by Columbia Management as the Fund grows and took
note of the extent to which Fund shareholders might also benefit from such
growth. The Board considered that the IMS Agreement provides for lower fees as
assets increase at pre-established breakpoints and concluded that the IMS
Agreement satisfactorily provided for sharing these economies of scale.
Based on the foregoing, the Board, including all of the Independent Directors,
concluded that the investment management service fees were fair and reasonable
in light of the extent and quality of services provided. In reaching this
conclusion, no single factor was determinative. On April 8, 2010, the Board,
including all of the Independent Directors, approved the renewal of the IMS
Agreement for an additional annual period.
PROXY VOTING -------------------------------------------------------------------
The policy of the Board is to vote the proxies of the companies in which the
Fund holds investments consistent with the procedures as stated in the Statement
of Additional Information (SAI). You may obtain a copy of the SAI without charge
by calling 800.221.2450; contacting your financial intermediary; visiting
riversource.com/funds(*); or searching the website of the Securities and
Exchange Commission (SEC) at http://www.sec.gov. Information regarding how the
Fund voted proxies relating to portfolio securities is filed with the SEC by
August 31 for the most recent 12-month period ending June 30 of that year, and
is available without charge by visiting riversource.com/funds(*); or searching
the website of the SEC at www.sec.gov.
* Information will be available at riversource.com/funds through September 26,
2010 and thereafter at columbiamanagement.com.
- --------------------------------------------------------------------------------
34 RIVERSOURCE GOVERNMENT MONEY MARKET FUND -- 2010 SEMIANNUAL REPORT
RIVERSOURCE GOVERNMENT MONEY MARKET FUND
734 Ameriprise Financial Center
Minneapolis, MN 55474
<Table>
This report must be accompanied or preceded by the Fund's
current prospectus. RiverSource(R) mutual funds are
distributed by Columbia Management Investment Distributors,
Inc. (formerly known as RiverSource Fund Distributors,
Inc.), member FINRA and managed by Columbia Management
Investment Advisers, LLC (formerly known as RiverSource
Investments, LLC).
(C)2010 Columbia Management Investment Advisers, LLC. All
(COLUMBIA MANAGEMENT LOGO) rights reserved. SL-9941 C (8/10)
</Table>
Item 2. Code of Ethics. Not applicable for semi-annual reports.
Item 3. Audit Committee Financial Expert. Not applicable for semi-annual
reports.
Item 4. Principal Accountant Fees and Services. Not applicable for semi-annual
reports.
Item 5. Audit Committee of Listed Registrants. Not applicable.
Item 6. Investments.
(a) The registrant's "Schedule 1 - Investments in securities of
unaffiliated issuers" (as set forth in 17 CFR 210.12-12) is included in
Item 1 of this Form N-CSR.
(b) Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End
Management Investment Companies. Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies. Not
applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment
Company and Affiliated Purchasers. Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders
may recommend nominees to the registrant's board of directors.
Item 11. Controls and Procedures.
(a) The registrant's principal executive officer and principal
financial officer, based on their evaluation of the registrant's
disclosure controls and procedures as of a date within 90 days of the
filing of this report, have concluded that such controls and procedures
are adequately designed to ensure that information required to be
disclosed by the registrant in Form N-CSR is accumulated and
communicated to the registrant's management, including the principal
executive officer and principal financial officer, or persons
performing similar functions, as appropriate to allow timely decisions
regarding required disclosure.
(b) There was no change in the registrant's internal controls over
financial reporting that occurred during the registrant's second fiscal
quarter of the period covered by this report that has materially
affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting.
Item 12. Exhibits.
(a)(1) Code of ethics required to be disclosed under Item 2 of Form N-CSR: Not
applicable for semi annual reports.
(a)(2) Certifications pursuant to Rule 30a-2(a) under the Investment Company Act
of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT.
(a)(3) Not applicable.
(b) Certification pursuant to Rule 30a-2(b) under the Investment Company Act of
1940 (17 CFR 270.30a-2(b)) attached hereto as Exhibit 99.906CERT.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) RiverSource Government Money Market Fund, Inc.
By /s/ J. Kevin Connaughton
-----------------------------------------
J. Kevin Connaughton
President and Principal Executive Officer
Date September 7, 2010
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the Registrant and in the capacities and on the
dates indicated.
By /s/ J. Kevin Connaughton
-----------------------------------------
J. Kevin Connaughton
President and Principal Executive Officer
Date September 7, 2010
By /s/ Jeffrey P. Fox
-----------------------------------------
Jeffrey P. Fox
Treasurer and Principal Financial Officer
Date September 7, 2010