U.S. SECURITIES AND EXCHANGE COMMISSION
                      Washington, DC 20549

                           Form 10-KSB


[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
    SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED
    APRIL 30, 2000.

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD
    FROM ___ TO ___

                 Commission File Number: 0-5378

                  George Risk Industries, Inc.
        (Name of small business issuer in its charter)
            Colorado                        84-0524756
 (State or other jurisdiction of     (I.R.S. Employer Identification
   incorporation or organization)               No.)

         802 South Elm
          Kimball, NE                         69145
(Address of principal executive             (Zip Code)
            offices)

Registrant's telephone number, including area code: (308) 235-4645

Securities registered pursuant to Section 12(b) of the Exchange Act:
None
Securities registered pursuant to Section 12(g) of the Act:
              Class A Common Stock, $.10 par value
                        (Title of class)

Indicate by check mark whether  the issuer (1)has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act during the
preceding 12  months  (or  for such shorter period that the registrant  was
required to file such reports) and (2) has been subject  to  such filing
requirements for the past 90 days.   Yes [X]    No [ ]

Indicate by check mark if disclosure of delinquent filers in response to Item
405 of Regulation S-B is not contained herein, and will not be contained, to
the best of registrant's  knowledge,  in definitive  proxy  or  information
statements  incorporated   by reference  in  Part III of this Form 10-KSB or
any  amendment  to this Form 10-KSB. [X]

The  Registrant's  revenues  for  the  fiscal year ended April 30, 2000 were
$13,485,000.  The  aggregate  market  value of the voting stock held by non-
affiliates of the Registrant as of June 30, 2000 was approximately $9,556,000
based  upon  the  last  reported  sale,  which occurred on June 29, 2000. For
purposes  of this disclosure, Common Stock held by persons who hold more than
5% of the  outstanding  voting  shares  held by officers and directors of the
Registrant  have  been  excluded  in  that  such  persons may be deemed to be
"affiliates" as that term is defined under the  rules and regulations promul-
gated under the Securities Act of 1933. This determination is not necessarily
conclusive.

The  number of shares of the Registrant's Common Stock outstanding as of
June 30,  2000 was 5,910,408


                   DOCUMENTS INCORPORATED BY REFERENCE: none

Transitional Small Business Disclosure Format   Yes X;  No ___

                             Part I


Item 1 Business

(a) Business Development

George   Risk   Industries,  Inc.  (GRI  or  the   company)   was
incorporated  in  1967  in  Colorado. The  company  is  presently
engaged   in  the  design,  manufacture,  and  sale  of  computer
keyboards, push  button  switches, burglar  alarm  components and
systems, pool alarms, and hydro sensors.

GRI  Telemark  Corporation (Telemark), formerly  a  majority owned
subsidiary, was  incorporated in  October 1983 for the purpose  of
marketing security alarm products. As of April  13, 1993, Telemark
was merged into GRI and presently operates as a marketing division
of GRI.

Products, Market, and Distribution

The  company designs, manufactures, and sells computer keyboards,
push-button  switches, burglar alarm components and systems, pool
alarms, and hydro sensors. The  security  burglar alarm  products
comprise  approximately  87 percent of net  revenues and are sold
through distributors  and private board customers.

The  security segment has approximately 650 customers. One of the
distributors  accounts  for  approximately  38  percent  of  the
company's sales of these products. Loss of this distributor would
be  significant  to  the  company.  However,  this  customer  has
purchased  from  the company for many years and  is  expected  to
continue.

The  keyboard  segment has approximately 300 customers.  Keyboard
products  are sold to original equipment manufacturers, to  their
specifications and to distributors of off-the-shelf keyboards  of
proprietary design.

Competition

The  company has intense competition in the keyboard and  burglar
alarm lines.

The  burglar  alarm segment has five or six major competitors. The
company  competes  well based on  price, product design,  quality,
and prompt delivery.

The  competitors in the keyboard segment are larger companies with
automated  production facilities. GRI has emphasized small  custom
order sales that many of its competitors decline or discourage.

Raw Materials

Sources for the company's  raw materials have been limited in  the
past.  The  company  has been developing other sources  of  supply
including offshore vendors. The company inventories a considerable
supply of raw materials, and thus has not incurred any significant
shortages.

Research and Development

The  company performs research and development for its  customers
from  time  to  time.  Costs  in  connection  with  such  product
development have been borne by  the  customers. Costs  associated
with the development of new products are expensed as incurred.

Employees

GRI has approximately 300 employees.


Item 2 Properties

The manufacturing and office facilities are owned by the company.
The manufacturing facilities were expanded in 1999 by 7200 square
feet.  Total square  footage of the plant in Kimball, Nebraska is
approximately  42,500.  Additionally, the  company  leases 15,000
square  feet for $1,335  per month with Delores  Spradlin, sister
of Ken R. Risk, who is an officer and director  of  the company.

As  of  October  1,  1996,  the company also  began  operating  a
satellite  plant  in  Gering,  NE. This  expansion  was  done  in
coordination with  Twin Cities  Development. The  company  leases
approximately 3,600 square feet and currently employs 48 employees
at the Gering site.


Item 3 Legal Proceedings

The company is a  defendant in a  patent infringement action. The
likelihood of an unfavorable outcome  or an estimate of potential
loss is  not  determinable.  The  company  believes  the  suit is
without merit and intends to vigorously defend its' position.


Item 4 Submission of Matters to a Vote of Security Holders

Not applicable.

                             Part II


Item 5 Market for the Registrant's Common Equity and Related
       Stockholders' Matter

Principal Market

The  company's Class A Common Stock is currently quoted over  the
counter in the NQB "Pink Sheets" by five market makers.
<TABLE>

Stock Prices and Dividends Information
<CAPTION>

2000 Fiscal Year           High                   Low

<S>                        <C>                    <C>
May 1-July 31              2.75                   1.75
August 1-October 31        2.72                   2.28
November 1-January 31      3.03                   2.28
February 1-April 30        4.13                   2.38

<CAPTION>

1999 Fiscal Year           High                    Low

<S>                        <C>                    <C>
May 1-July 31              2.56                   2.06
August 1-October 31        2.31                   1.72
November 1-January 31      2.12                   1.72
February 1-April 30        2.13                   1.69
</TABLE>

No  dividends were paid during fiscal years ending April 30, 1999
and 2000.

The  number of holders of record of the company's Class A  Common
Stock as of April 30, 2000, was approximately 1,400.


Item 6 Management's Discussion and Analysis of Financial
       Condition and Results of Operations

GRI  completed the fiscal year ending April 30, 2000, with a  net
profit  of 16.2 percent of sales.  Net sales were at $13,485,000,
up 3.1 percent over the previous year.

The company expects sales to continue to grow for the fiscal year
ending  April 30, 2001.  The  continued growth should be achieved
by  volume increases  with  present  customers and sales to added
customers. Also, the Company is planning to open a warehouse in
England to better serve their overseas customers.

The  material and  labor stayed very consistent between this year
and last year.  At fiscal year  end 1999  the material and  labor
percentage was at 44.2% of gross sales while the same  percentage
for fiscal year end 2000 was at  42%.  The  company  continues to
buy smart  and  is  always  looking  for quality materials at the
best  possible price. And as far as labor goes, the company tries
to hire only the  amount  of production workers that they need to
finish products and they also  work very hard at keeping overtime
expense down.  With these good practices embedded throughout, the
company is  expected to continue to achieve a gross profit margin
of 45 to 50 percent for the coming year.

Liquidity has improved each year and the ratio of cash, securities
and  accounts receivables to current obligations was 27.6 and 19.1
for the  fiscal years  ending  April 30, 2000, and April 30, 1999,
respectively.  The company has marketable securities of $6,639,000
as compared to last year with $5,464,000.  There was an unrealized
gain  of  $291,000 on securities as compared to last  year's  gain
of $118,000.

New product development at GRI has become very aggressive in order
to  stay  competitive  in  the industry and has continued business
growth.  Several products  that were in development last year and
are just being introduced to  the  market  include a door channel
magnet, a hold-up switch, a relay module, a high security  switch,
and multi-functional thermostat.  New products that are presently
in development include a wireless pool alarm,  raceway  (wire-run
covers and associated  connectors), European contact switches (to
compete  in  the U.K.  market), and  ShockGard (shock sensor that
senses sound waves).

The company moved into its new 7,200 square foot building addition
in October 1999. This building houses the tool and die and molding
departments and also allows for additional stockroom storage. This
additional  stockroom  storage  enables  the company to stock more
finished  goods  for the increasing demands of its customers. This
new addition was built in part with a grant received from Nebraska's
Department of Economic Development (DED). This program from the DED,
called the Community  Development  Block Grant, is designed to help
with the  economic  growth  of  Nebraska's  rural communities. The
company is  in the process of applying for another of these grants
in order to  (1) expand and relocate its sales department, and (2)
build additional production facilities.

The  company  is  continuing to search for a business  that  would
complement  the existing business.  This would require no  outside
financing.  The  intent  is to  utilize the  equipment,  marketing
techniques  and  established  customers  to  increase   sales  and
profits.

The  company  recognizes  its  revenue  when goods are shipped and
billed to  its  customers.  There is  a $50,000 allowance that was
established by  the  company  to  account  for  any  uncollectable
accounts.

There   are  no  known seasonal trends with any of GRI's  products,
since  they  sell  to  distributors  and  OEM  manufacturers.  The
products are tied  to  the housing industry and will fluctuate with
building trends.

Item 7 Financial Statements


                  Independent Auditor's Report




Board of Directors
George Risk Industries, Inc.
Kimball, Nebraska


We  have  audited the accompanying balance sheet of  George  Risk
Industries, Inc. as of April 30, 2000, and the related statements
of  income,  comprehensive income, stockholders' equity, and cash
flows for the two years then ended. These financial statements are
the responsibility  of the  company's  management. Our responsi-
bility  is  to  express  an opinion on these financial statements
based on our audit.

We  conducted  our  audit in accordance with  generally  accepted
auditing  standards. Those standards require  that  we  plan  and
perform  the  audit to obtain reasonable assurance about  whether
the  financial  statements are free of material misstatement.  An
audit  includes  examining, on a test basis, evidence  supporting
the amounts and disclosures in the financial statements. An audit
also  includes  assessing  the  accounting  principles  used  and
significant  estimates made by management, as well as  evaluating
the overall financial statement presentation. We believe that our
audit provides a reasonable basis for our opinion.

In  our  opinion,  the  financial statements  referred  to  above
present  fairly, in all material respects, the financial position
of  George  Risk Industries, Inc. as of April 30, 2000,  and  the
results  of  their operations and their cash flows  for  the  two
years   then   ended,  in  conformity  with  generally   accepted
accounting principles.


Mason Russell West, LLC


Littleton, Colorado
July 7, 2000

<TABLE>


                 George Risk Industries, Inc.
                        Balance Sheet
                        April 30, 2000


<CAPTION>

                            Assets

<S>                                                   <C>
Current Assets:
 Cash and cash equivalents                           $   958,000
 Marketable securities                                 6,639,000
 Accounts receivable:
  Trade, net of allowance for doubtful
         accounts of $50,000                           1,922,000
  Income tax overpayment                                  47,000
  Other                                                  126,000
 Inventories                                           2,600,000
 Prepaid expenses                                         52,000
 Deferred income taxes                                    69,000
                                                     ___________
   Total Current Assets                               12,413,000
                                                     ___________
Property and Equipment, net, at cost                   1,261,000
                                                     ___________
Other Assets
 Projects in process                                      46,000
 Officer receivable                                       20,000
                                                     ___________
   Total Other Assets                                     66,000
                                                     ___________



Total Assets                                         $13,740,000
                                                     ___________


<FN>
See accompanying notes to financial statements
</TABLE>


<TABLE>
<CAPTION>


             Liabilities and Stockholders' Equity

<S>                                                   <C>
Current Liabilities:
 Accounts payable-trade                               $    41,000
 Accrued expenses:
  Payroll and related expenses                            299,000
  Property taxes                                           21,000
 Notes payable-current portion                             31,000
                                                      ___________
   Total Current Liabilities                              392,000
                                                      ___________
Deferred Income Taxes                                      26,000
Long-term debt                                             92,000
Commitments and Contingencies                                   0
                                                      ___________
   Total Long-Term Liabilities                            118,000

                                                      ___________
Stockholders' Equity
 Convertible preferred stock, 1,000,000 shares
  authorized, Series 1-noncumulative, $20
  stated value, 25,000 shares authorized, 5,350
  issued and outstanding                                  107,000
 Common stock, Class A, $.10 par value, 10,000,000
  shares authorized, 8,502,832 shares issued              850,000
 Additional paid-in capital                             1,719,000
 Accumulated other comprehensive income                   291,000
 Retained earnings                                     11,301,000
 Less cost of treasury stock,
     2,592,424 shares, at cost                         (1,038,000)
                                                      ___________
   Total Stockholders' Equity                          13,230,000
                                                      ___________
Total Liabilities and Stockholders' Equity            $13,740,000
                                                      ___________
</TABLE>

<TABLE>


                 George Risk Industries, Inc.
                     Statements of Income
       For the Years Ended April 30, 2000 and 1999

<CAPTION>

                                           2000           1999

<S>                                    <C>             <C>
Net Sales                              $13,485,000     $13,078,000
 Less cost of goods sold                 6,842,000       6,870,000

                                       ___________     ___________
Gross Profit                             6,643,000       6,208,000

Operating Expenses:
 Selling and shipping                    2,432,000       2,457,000
 General and administrative                769,000         676,000
 Engineering and research                  163,000          81,000
 Rent expense paid to
    related parties                         58,000          50,000
                                       ___________     ___________
       Total Operating Expenses          3,422,000       3,264,000
                                       ___________     ___________
Income From Operations                   3,221,000       2,944,000

Other Income (Expense):
 Other income                               90,000         (17,000)
 Dividend and interest income              294,000         271,000
 Interest expense                           (9,000)        (21,000)
 Gain/(loss) on sale of investments        (45,000)        126,000
                                       ___________     ___________
       Total Other Income                  330,000         359,000

Income  Before  Provision  for  Income
Taxes                                    3,551,000       3,303,000

Provision for Income Taxes:
 Current expense                         1,366,000       1,117,000
 Deferred tax (benefit) expense             (2,000)         13,000
                                       ___________     ___________
 Total Provision for Income Taxes        1,364,000       1,130,000
                                       ___________     ___________
Net Income                             $ 2,187,000     $ 2,173,000
                                       ___________     ___________
Income per Share of Common Stock       $       .36     $       .36
                                       ___________     ___________
Weighted Average Number of Common
 Shares Outstanding                      6,043,111       6,021,274

                                       ___________     ___________
<FN>
See accompanying notes to financial statements
</TABLE>

<TABLE>



                         George Risk Industries, Inc.
                      Statement of Comprehensive Income
                               April 30, 2000

<CAPTION>
                                       For the Years Ended April 30,
                                             2000          1999

<S>                                      <C>             <C>
Net Income                               $2,187,000      $2,173,000
                                         __________      __________

Other Comprehensive Income, Net of Tax
 Unrealized loss on securities:
  Unrealized holding gains (losses)
   arising during period                    218,000         112,000
   Reclassification adjustment for
   gains (losses) included in net income    (45,000)        126,000
                                         __________      __________

Other Comprehensive Income (Loss)           173,000         238,000

Comprehensive Income                     $2,360,000      $2,411,000
                                         __________      __________

<FN>
See accompanying notes to financial statements

</TABLE>

<TABLE>

                  George Risk Industries, Inc.
          Statement of Changes in Stockholders' Equity
           For the Years Ended April 30, 2000 and 1999


<CAPTION>
                                                  Common Stock
                         Preferred Stock            Class A

                         Shares     Amount      Shares      Amount
<S>                      <C>       <C>         <C>          <C>
Balances, April 30,
 1998                    12,850     257,000    8,502,832     850,000

Shares issued to
 employees in lieu
  of cash
   compensation               0            0            0           0

Purchase of common
 stock for treasury           0            0            0           0

Unrealized gains on
 marketable securities        0            0            0           0

Net income                    0            0            0           0
                        _______     ________    _________    ________
Balances, April 30,
 1999                    12,850     $257,000    8,502,832    $850,000


Shares issued to
 officers and employees
  in lieu of cash
   compensation               0            0            0           0

Purchase of common
 stock for treasury           0            0            0           0

Purchase of preferred
 shares for retirement   (7,500)    (150,000)           0           0

Unrealized gain on
 marketable securities        0            0            0           0

Net income                    0            0            0           0
                       ________     ________     ________    ________
Balances, April 30,
 2000                     5,350     $107,000    8,502,832    $850,000
                       ________     ________    _________    ________

<FN>
See accompanying notes to financial statements
</TABLE>


<TABLE>

<CAPTION>
                                    Accumulated
            Treasury Stock            Other
Paid-In    (Common Class A)        Comprehensive  Retained
Capital      Shares      Amount      Income       Earnings     Total
<C>          <C>         <C>          <C>         <C>          <C>

$1,674,000   2,448,724   $(616,000)   $(120,000)  $6,941,000   $8,986,000




    18,000     (11,550)      3,000           0             0       21,000


         0      31,500     (60,000)          0             0      (60,000)


         0           0           0     238,000             0      238,000

         0           0           0           0     2,173,000    2,173,000
__________   _________   _________   _________    __________  ___________

 1,692,000   2,468,674    (673,000)    118,000     9,114,000   11,358,000





    44,000      (26,250)      7,000           0             0       51,000


         0      150,000    (372,000)          0             0     (372,000)


   (17,000)           0           0           0             0     (167,000)


         0            0           0     173,000             0      173,000

         0            0           0           0     2,187,000    2,187,000
__________    _________ ___________    ________   ___________  ___________

$1,719,000    2,592,424 $(1,038,000)   $291,000   $11,301,000  $13,230,000
__________    _________ ___________    ________   ___________  ___________

</TABLE>

<TABLE>
                   George Risk Industries, Inc.
                      Statements of Cash Flows

<CAPTION>
                                              For the Years
                                              Ended April 30,
                                           2000          1999
<S>                                     <C>           <C>
Cash Flows from Operating Activities:
Net income                              $2,187,000    $2,173,000
Adjustments to reconcile net income
 to net cash provided by
    operating activities:
   Depreciation                            208,000       166,000
   Change in unrealized gains
          on investments                   173,000       238,000
   Net book value of assets retired              0        18,000
   Changes in assets and liabilities:
    (Increase) decrease in:
     Marketable securities              (1,175,000)   (1,001,000)
     Accounts receivable                   153,000      (305,000)
     Inventories                          (406,000)     (538,000)
     Prepaid expenses                       11,000       (19,000)
     Other receivable                     (113,000)      109,000
     Income tax overpayment                 64,000      (111,000)
     Deferred income taxes                       0        18,000
    Increase (decrease) in:
     Accounts payable                       (5,000)     (150,000)
     Accrued expenses                      (17,000)       23,000
     Accrued income and other taxes       (125,000)       67,000
     Deferred tax liability                 (2,000)       (5,000)
                                        __________    __________
    Net cash provided by operating
     activities                            953,000       683,000
                                        __________    __________

Cash Flows From Investing Activities:
 Projects in progress                       19,000       (91,000)
 Purchase of property and equipment       (653,000)     (244,000)
 Purchases of treasury stock              (372,000)      (60,000)
 Purchase of preferred stock              (167,000)            0
                                        __________    __________
    Net cash provided (used) by
     investing activities               (1,173,000)     (395,000)
                                        __________    __________
Cash Flows From Financing Activities:
 Increase in long-term debt                 75,000             0
 Principal payments on long-term debt     (108,000)      (52,000)
 Treasury stock issued                      51,000        21,000
                                        __________    __________
   Net cash provided (used) by
    financing activities                    18,000       (31,000)
                                        __________    __________
Net Increase (Decrease) in Cash and
  Cash Equivalents                        (202,000)      257,000

Cash and Cash Equivalents, beginning
 of year                                 1,160,000       903,000
                                        __________    __________
Cash and Cash Equivalents, end of year  $  958,000    $1,160,000
                                        __________    __________

Supplemental Disclosure of Cash
      Flow Information:
 Cash payments for:
  Income taxes                          $1,535,000    $1,132,000
                                        __________    __________
  Interest expense                      $    9,000    $   21,000
                                        __________    __________
Supplemental disclosure of noncash
  investing and financing
 activities-issuance of treasury stock
  in lieu of compensation               $   51,000    $   21,000
                                        __________    __________

<FN>
See accompanying notes to financial statements
</TABLE>



                  George Risk Industries, Inc.
                  Notes to Financial Statements


1. Nature  of  Business and Summary of Significant  Accounting
   Policies

   Nature  of  Business-The company is engaged in the  design,
   manufacture, and marketing  of  computer keyboards,  push-
   button switches, security alarm  components,  pool  alarms
   and hydro sensors.

   At April 30, 1993, the financial statements of the company,
   George  Risk Industries, Inc. (GRI), and its majority-owned
   subsidiaries, GRI Telemark Corp. (Telemark), and  R&D  Labs
   were  consolidated. Effective April 30, 1993,  the  company
   acquired  the  entire  minority  interest  in  Telemark  by
   issuing  22,160  shares of its Class  A  common  stock  and
   merged Telemark into GRI. Telemark continues to operate  as
   a marketing division of GRI.

   Cash   and  Cash  Equivalents - The  company  considers  all
   investments  purchased with  a maturity of three  months  or
   less to be cash equivalents.

   Inventories - Inventories are stated at the lower of cost or
   market.  Cost  is  determined using the average cost-pricing
   method.   The  company  uses standard  costs  to  price  its
   manufactured inventories approximating average costs.

   Property and Equipment - Property and equipment are recorded
   at  cost.  Depreciation is calculated based on the following
   estimated useful lives using the straight-line method:

<TABLE>
<CAPTION>

                                      Useful
        Classification                 Life         Cost
                                     in Years

        <S>                            <C>        <C>
        Dies, jigs, and molds          3-7        $  454,000
        Machinery and equipment        5-10          809,000
        Furniture and fixtures         5-10          134,000
        Leasehold improvements         2-3 1/2       125,000
        Buildings                       20           508,000
        Automotive                     3-5           317,000
        Software                       2-5           115,000
        Land                           N/A            13,000
                                                  __________
        Total                                      2,475,000
        Accumulated depreciation                  (1,215,000)

        Net                                       $1,260,000
                                                  __________
</TABLE>


   Depreciation expense of $208,000 and $166,000  were charged
   to operations for the years ended April 30, 2000 and 1999,
   respectively.



   Maintenance and repairs are charged to expense as incurred,
   and  expenditures  for major improvements are  capitalized.
   When  assets  are  retired or otherwise  disposed  of,  the
   property  accounts  are relieved of costs  and  accumulated
   depreciation and any resulting gain or loss is credited  or
   charged to operations.

   Income Taxes - The company has adopted the provisions of the
   SFAS  No. 109, "Accounting for Income Taxes."  SFAS No. 109
   requires  use of the liability method, whereby current  and
   deferred tax assets and liabilities are determined based on
   tax  rates  and laws enacted as of the balance sheet  date.
   Deferred  tax expense represents the change in the deferred
   tax asset/liability balances.

   The  flow-through method of accounting for tax credits  has
   been adopted by the company. Such credits are reflected  as
   a  reduction of the provision for income taxes in the  year
   in which they become available.

   Net Income Per Common Share - Net income per common share is
   based  on  the  weighted  average number  of  common  shares
   outstanding  during  each fiscal year. Shares issuable  upon
   the  conversion  of preferred  stock are excluded  from  the
   calculations since their effect is insignificant.

   Accounting  Estimates - The preparation  of these  financial
   statements  requires the use of  estimates  and  assumptions
   including  the  carrying value of assets. The estimates  and
   assumptions  result  in  approximate  rather   than   exact
   amounts.

   Revenue Recognition - Revenue is  recognized  when risks and
   benefits in ownership are transferred, which normally occurs
   at the time of shipment of products.

   Comprehensive Income -  In the first quarter of fiscal 1999,
   the  Company  adopted  Statement  of  Financial   Accounting
   Standards (SFAS) No. 130, "Reporting Comprehensive  Income".
   SFAS 130 requires disclosure of total non-stockholder changes
   in equity in interim periods and  additional  disclosures  of
   the components of non-stockholder  changes  in  equity  on an
   annual basis. Total non-stockholder changes in equity includes
   all changes in equity during a period except those resulting
   from fiscal investments by and distributions to stockholders.

2. Inventories
<TABLE>
<CAPTION>

   Inventories at April 30, 2000, consisted of the following:
    <S>                                         <C>

    Raw materials                               $1,918,000
    Work in process                                426,000
    Finished goods                                 326,000
                                                __________
                                                 2,670,000
                                                __________
    Less allowance for obsolete
    inventory                                      (70,000)
                                                __________
    Totals                                      $2,600,000
                                                __________
</TABLE>



3. Marketable Securities

   Marketable equity securities are recorded at the  lower  of
   cost  or  market  and  are classified as available-for-sale
   securities.  The  cost  of marketable  securities  sold  is
   determined  on the average cost method with realized  gains
   or  losses  being reflected in the statement of  operations
   and  any  unrealized gains and losses being reported  as  a
   separate  component of stockholders' equity until realized.
   Dividend and interest income are accrued as earned.

   Marketable  equity  securities  and  unrealized  gains  and
   losses consist of the following as of April 30, 2000:

<TABLE>

    <S>                                         <C>
    Cost basis                                  $6,348,000
    Market value                                 6,639,000
                                                __________
    Net unrealized gain                         $  291,000
                                                __________
    Gross unrealized gain                       $  296,000
                                                __________
    Gross unrealized loss                       $    5,000
                                                __________
</TABLE>


4. Notes Payable
<TABLE>
<CAPTION>

   Notes payable consists of the following at April 30, 2000:
 <S>                                                   <C>
 Note  payable, 11 percent imputed interest, secured
    by  725,000  shares  of treasury  stock  monthly
    principal  and interest payments of $6,000,  due
    July, 2000                                         $  18,000
 Notes payable, City of Kimball and State of Nebraska,
    10 percent interest, secured by certain machinery,
    equipment, and  buildings, 5  year term, principal
    and  interest  payments  due  May  26,  2004, loan
    agreement stipulates all  principal  and  interest
    to be waived if  the  Company  maintains its plant
    in Kimball and maintains defined minimum employ-
    ment level for the term of the loan.                  75,000
Notes payable,  vehicle  loans,  due  October,  2002,
    secured by two vehicles, $1,083 monthly principal
    and interest payments.                                30,000
                                                       _________
Total long-term debt                                     123,000
    Less current portion                                  31,000
                                                       _________
       Net long-term debt                              $  92,000
                                                       _________

</TABLE>

5. Stockholders' Equity

   Preferred Stock - Each share of the Series #1 preferred stock
   is convertible  at the  option of the holder into five shares
   of  Class  A  common  stock  and is  also redeemable  at  the
   option  of  the  board of  directors  at $20 per  share.  The
   holders  of  the  convertible   preferred   stock  shall   be
   entitled  to  a  dividend at a  rate  up  to   $1  per  share
   annually,  payable quarterly  as  declared by  the  board  of
   directors. No dividends were  paid during the two years ended
   April 30, 2000.

   During the  year ended April 30, 2000, the  Company purchased
   and retired 7,500 preferred shares for $167,000.

   Convertible preferred stock without par value may be issued
   from  time to time as determined by the board of directors.
   Shares  of different series shall be of equal rank but  may
   vary as to terms and conditions.

   Class  A  Common  Stock - The holders of the Class A  common
   stock  shall be entitled to receive dividends as declared by
   the  board  of directors. No  dividends may be paid  on  the
   Class A  common stock  until the  holders of the  Series  #1
   preferred stock  have  been  paid a dividend  for  the  four
   prior quarters and provision has  been  made  for  the  full
   dividend in the current fiscal year.

   Stock  Transfer  Agent - The  company  does  not   have   an
   independent  stock  transfer agent.  All stock  records  are
   maintained by the company.


6. Commitments, Contingencies, and Related Party Transactions

   Leases - The   company   leases   facilities  from  certain
   officers/directors/stockholders of the company.  One  lease
   requires an annual payment of $3,400 due each July 1  while
   the  other  leases are on a month-to-month basis  requiring
   payments of $1,335 and $300.

   Total lease expense under these  arrangements for the fiscal
   years ended April 30, 2000 and 1999, was $31,000 and $22,000,
   respectively.

   The  company  leases  an airplane from  an  officer/director/
   stockholder  of  the  company  on  a  month -to- month  basis
   requiring payments of $2,250. Airplane lease expenses charged
   to operations for the fiscal years ended  April 30, 2000 and
   1999, were $27,000 for each year. During the year ended April
   30, 2000, the  Company  paid $210,000 and the officer contri-
   buted the airplane in trade for another airplane. The Company
   and the officer jointly own the  newly purchased airplane and
   will  continue  the  lease on  the officer's ownership of the
   plane.


7. Income Taxes
<TABLE>
<CAPTION>

                                               2000
                                    Federal           State
                                 ____________      ____________

 <S>                               <C>               <C>
 Income before taxes               $3,551,000        $3,551,000
 State income tax                    (216,000)         (216,000)
 Capital loss carryforwards used       59,000            59,000
 Nontaxable income                   (138,000)         (125,000)
 Nondeductible expenses
  and timing differences              (18,000)          (18,000)
                                   ___________       ___________

    Taxable income                 $3,238,000         $3,251,000
                                  ___________       ___________

    Income tax                     $1,150,000        $   216,000
                                  ___________       ___________

    Tax rate to taxable income            35%               6.6%
                                  ___________       ___________



</TABLE>


<TABLE>
<CAPTION>

                                                1999
                                      Federal          State
                                   ____________     ____________

   <S>                              <C>              <C>
   Income before taxes              $3,288,000       $3,288,000
   State income tax                   (160,000)        (160,000)
   Capital loss carryforwards used     (60,000)        (106,000)
   Nontaxable income                  (138,000)        (125,000)
   Nondeductible expenses
    and timing differences             (22,000)         (22,000)
                                    __________       __________

   Taxable income                   $2,908,000       $2,875,000
                                    __________       __________

   Income tax                       $  957,000       $  160,000
                                    __________       __________

   Tax rate to taxable income            32.9%             5.6%
                                    __________       __________
</TABLE>

<TABLE>

   Deferred  tax  asset (liability) consist of  the  following
   components at April 30, 2000 and 1999:

<CAPTION>
                                        2000         1999
                                     _________     ________

  <S>                                 <C>            <C>
  Deferred tax current assets:
   Accrued expenses                   $11,000        $31,000
   Capital losses carried forward      20,000              0

  Deferred tax noncurrent asset
    - accrued expenses                 38,000         38,000

  Deferred tax noncurrent
    liability:
   Depreciation                       (26,000)       (28,000)
                                     ________       ________
     Net deferred tax asset
              (liability)             $43,000        $41,000
                                     ________       ________
</TABLE>


8. Business Segments
<TABLE>

   The following is financial information relating to industry
   segments:
<CAPTION>

                                                 April 30,
                                            2000            1999

    <S>                                 <C>              <C>
    Net revenue:
     Keyboard products                  $ 1,747,000      $ 1,219,000
     Security alarm products             11,738,000       11,859,000
                                        ___________      ___________

    Total net revenue                   $13,485,000      $13,078,000
                                        ___________      ___________

    Income from operations:
     Keyboard products                  $   417,000      $   274,000
     Security alarm products              2,804,000        2,670,000
                                        ___________       __________
    Total income from operations        $ 3,221,000      $ 2,944,000
                                        ___________      ___________

    Identifiable assets:
     Keyboard products                  $   573,000      $   568,000
     Security alarm products              4,121,000        4,644,000
     Corporate general                    9,046,000        6,838,000
                                        ___________      ___________

    Total assets                        $13,740,000      $12,050,000
                                        ___________      ___________
    Depreciation and
      amortization:
     Keyboard products                  $     7,000      $     7,000
     Security alarm products                140,000          124,000
     Corporate general                       60,000           35,000
                                        ___________      ___________

    Total depreciation and
      amortization                      $   207,000      $   166,000
                                        ___________      ___________

    Capital expenditures:
     Keyboard products                  $     2,000      $    13,000
     Security alarm products                207,000          265,000
     Corporate general                      433,000           57,000
                                        ___________      ___________
      Totals                            $   642,000      $   335,000
                                        ___________      ___________

</TABLE>



   9.   Concentrations of Credit Risk Arising from Cash Deposits
         in Excess of Insured Limits

   The  company  maintains  its cash balance  in  a  financial
   institution in Kimball, Nebraska. The balance is insured by
   the  Federal Deposit Insurance Corporation up to  $100,000.
   At  April  30,  2000, the company's uninsured cash  balance
   totaled $425,000.


Item 8 Disagreements on Accounting and Financial Disclosures

There  were  no disagreements with accountants on accounting  and
financial disclosure.



                            Part III


Item 9 Directors and Executive Officers of the Registrant

(a) Identification of Directors and Executive Officers

All  of  the executive officers of the corporation serve  at  the
pleasure of the board of directors and do not have fixed terms.

The following information as of April 30, 2000, is furnished with
respect to each director and executive officer:

<TABLE>
<CAPTION>


                                                              Director or
Name               Principal Occupation or Employment   Age   Officer Since
____               __________________________________   ___   _____________
<S>                <C>                                 <C>   <C>
Ken R. Risk        Chairman of the Board and President  52    1976

Eileen M. Risk     Secretary/Treasurer                  82    1976

Mary Ann Brothers  Executive Vice President             60    1984

Stephanie Risk     Chief Financial Officer/Controller   28    1999

Jerry Andersen     Director                             69    1978

Roy Bowling        Director                             63    1986

Michael J. Nelson  Director                             59    1992


(b) Business Experience of Directors and Executive Officers

Ken  R. Risk and Eileen M. Risk, executive officers listed above,
have served in various executive capacities with the company over
the past eleven years.

Ken  R.  Risk,  chairman  of the board, president  and  director,
worked with the company after he returned from naval service  for
several  years.  He left GRI in 1977 to start  his  own  company,
Platte  Valley Sales, in Hastings, Nebraska. He returned  to  the
company to assume the position of president and CEO in late  1989
after the death of his father, George Risk.  He moved to Kimball,
Nebraska in 1997.

Mary  Ann  Brothers was controller of the company for five  years
and  also served as executive vice president and general  manager
prior  to  becoming  president of GRI Telemark  Corporation.  She
became executive vice president when Telemark was merged with GRI
in 1993.

Jerry  Andersen,  director, has worked in  the  banking  industry
since  1967.  Currently,  he is the vice  president  of  American
National Bank in Kimball, Nebraska.

Roy Bowling, Director, has been in the alarm industry for over 20
years. He founded Labor Saving Devices of Lakewood, Colorado,  14
years ago and is actively involved with that company.

Michael  J. Nelson, director, has worked in the banking  business
since 1963 and has been the president of the First State Bank  in
Kimball, Nebraska for the past 17 years.

(c) Identification of Certain Significant Employees

Ken R. Risk and Mary Ann Brothers are officers and  employees  of
of the company. (See Item 9 [b].)

(d) Involvement in Certain Legal Proceedings

George  Risk  Industries, Inc.  has  been  named in certain legal
proceedings discussed in Item 3.

Item 10 Executive Compensation

The  following table sets forth certain information regarding the
compensation paid or accrued by the company to or for the account
of  the  chief executive officer and each of the four other  most
highly compensated executive officers of the company for services
rendered  in  all capacities during each of the company's  fiscal
years ended April 30, 1998, 1999, and 2000:


</TABLE>
<TABLE>


                                Annual Compensation
<CAPTION>

       (a)           (b)         (c)       (d)          (e)
                                                    Other Annual
Position             Year      Salary    Bonuses    Compensation

<S>                  <C>       <C>         <C>        <C>
Ken R. Risk          2000      180,000      0         20,000 stock shares
Chief Executive      1999      176,000      0         35,000 stock shares
Officer              1998      163,000      0              0

Mary Ann Brothers    2000      122,000      0          5,000 stock shares
Executive Vice       1999      118,000      0              0
President            1998      110,000      0              0

Donna Debowey        2000      32,000       0            250 stock shares
Senior Vice          1999           0       0              0
President            1998           0       0              0

Director             2000       39,000      0              0
of                   1999       41,000      0              0
Engineering          1998       22,000      0              0

Dan Douglas          2000       41,000      0              0
Vice President of    1999       40,000      0              0
Materials            1998       39,000      0              0

</TABLE>
<TABLE>

                             Long-Term Compensation

<CAPTION>
    (a)       (b)        (f)         (g)          (h)          (i)
                      Restricted   Options       LTIP          All
Position     Year       Stock       /SARS       Payouts       Other
                        Awards

<S>          <C>         <C>         <C>          <C>          <C>
Ken R. Risk  2000         0           0            0            0
             1999         0           0            0            0
             1998         0           0            0            0


Mary Ann     2000         0           0            0            0
Brothers     1999         0           0            0            0
             1998         0           0            0            0


Donna        2000         0           0            0            0
Debowey


Director     2000         0           0            0            0
of           1999         0           0            0            0
Engineering  1998         0           0            0            0


Dan Douglas  2000         0           0            0            0
             1999         0           0            0            0
             1998         0           0            0            0

</TABLE>

Members of the board of directors were each compensated $150  for
their services during the fiscal year.

Ken  R.  Risk  and  Mary  Ann Brothers  do  not  have  employment
contracts with the company. Both officers have a base salary  and
also receive compensation based on a percentage of net sales  for
the year.


Item 11 Security Ownership of Certain Beneficial Owners and
        Management

Below is certain information concerning persons who are known  by
the  company to own beneficially more than 5 percent of any class
of the company's voting shares outstanding on April 30, 2000.

<TABLE>
<CAPTION>
Title     Name and Address        Amount of        Percent
  of        of Beneficial        Beneficial          of
Class         Ownership           Ownership         Class

<S>       <C>                      <C>             <C>
Class     Ken R. Risk              2,952,005       49.9%
A         Kimball, NE
          68901

</TABLE>


None  of  the directors or officers has the right to acquire  any
additional  shares  either  directly or  indirectly  through  any
contracts or arrangements with other shareholders.


Item 12 Certain Relationships and Related Party Transactions

During each of three years ended April 30, 2000, 1999, and 1998,
the  company  executed  transactions with  related  entities  and
individuals. Each of the transactions was in terms  at  least  as
favorable as could be obtained from unrelated third parties.

<TABLE>
<CAPTION>
Related Party                    2000         1999         1998

<S>                            <C>           <C>          <C>
Airplane Lease
  Ken R. Risk                  $27,000       $27,000      $27,000
  President

Building and Warehouse
Leases/Rentals
  Eileen M. Risk               $ 3,400       $ 3,400      $ 3,400
  Secretary/Treasurer

  Eileen M. Risk               $ 3,600       $ 3,600      $ 3,600
  Secretary/Treasurer

  Delores Spradlin             $16,020       $16,020      $16,020
  Sister, Ken R. Risk

Stock Transfer Agent
  Eileen M. Risk               $20,000       $20,000      $20,000
  Secretary/Treasurer

</TABLE>


Item 13 Exhibits and Reports on Form 8-K


3.(1).a     Articles of Incorporation - Filed as Exhibit 5 to the
            Registrant's Form 10-K for the fiscal year ended
            April 10, 1970, and incorporated by reference herein

3.(i).b     Certificate of Amendment to the Articles of
            Incorporation of the Registrant - Filed as Exhibit 1.2
            to the Registrant's Form 10-K for the fiscal year
            ended April 30, 1971, and incorporated by reference
            herein

3.(ii).c    By-laws - Filed as Exhibit 1.3 to the Registrant's Form
            10-K for the fiscal year ended April 10, 1971, and
            incorporated by reference herein

16.         8-K letter on change in certifying accountant
            8-K Amendment 1. Letter on change in certifying
            accountant

                          SIGNATURES

Pursuant  to  the  requirements of  Section  13  or  15(d)  of
the  Securities  Exchange  Act  of  1934, as  amended,  the
Registrant  has  duly  caused  this  Report  to  be  signed  on
its  behalf  by  the  undersigned,  thereunto  duly  authorized.

                 George Risk Industries, Inc.

                    By:  /s/  Ken R. Risk
                  Ken R. Risk, President and
                     Chairman of the Board

August 10, 2000

Pursuant  to  the  requirements  of  the Securities  Exchange Act
of 1934, this  Report  has been  signed  below  by the  following
persons on   behalf  of  the Registrant and in the capacities and
on the  dates  indicated.

Signature                Title                      Date




/s/ Ken R. Risk          President and              August 10, 2000
Ken R. Risk              Chairman of the Board


/s/ Stephanie Risk       Chief Financial Officer    August 10, 2000
Stephanie Risk           and Controller


/s/ Jerry Andersen       Director                   August 10, 2000
Jerry Andersen


/s/ Michael J. Nelson    Director                   August 10, 2000
Michael J. Nelson