# EDGAR Filing Document

**Accession Number:** 0000316968
**File Stem:** 0001193125-23-014008
**Filing Date:** 2023-1
**Character Count:** 59065
**Document Hash:** 3f0e28a4d3d5efae79ba6616bdb7f1cb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-014008.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0001193125-23-014008

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**EFFECTIVENESS DATE**: 20230124

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** T. Rowe Price Government Money Fund, Inc.
- **CENTRAL INDEX KEY:** 0000316968
- **IRS NUMBER:** 521040467
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02603
- **FILM NUMBER:** 23546880

**BUSINESS ADDRESS:**
- **STREET 1:** 100 EAST PRATT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202
- **BUSINESS PHONE:** 410-345-2000

**MAIL ADDRESS:**
- **STREET 1:** 100 EAST PRATT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** T. Rowe Price Prime Reserve Fund, Inc.
- **DATE OF NAME CHANGE:** 20051028

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRICE T ROWE PRIME RESERVE FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### T. Rowe Price Government Money Fund, Inc. (Series ID: S000002140)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000005535 | T. Rowe Price Government Money Fund, Inc.    | PRRXX           |
| C000190629 | T. Rowe Price Government Money Fund- I Class | TTGXX           |

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: 811-02603

T. Rowe Price Government Money Fund, Inc.
(Exact name of registrant as specified in charter)

100 East Pratt Street, Baltimore, MD 21202
(Address of principal executive offices)

David Oestreicher
100 East Pratt Street, Baltimore, MD 21202
(Name and address of agent for service)

Registrant's telephone number, including area code: (410) 345-2000

Date of fiscal year end: May 31

Date of reporting period: November 30, 2022

# ---**Item 1. Reports to Shareholders**

# **(a) Report pursuant to Rule 30e-1**

T.RowePrice®

# SEMIANNUAL REPORT

November 30, 2022

| PRRXX | T. ROWE PRICE Government Money Fund |
| --- | --- |
| TTGXX | Government Money |

INVEST WITH CONFIDENCE®

The Government Money Fund produced a positive return in the last six months and outperformed its peer group benchmark, the Lipper U.S. Government Money Market Funds Index.

Money market yields have risen sharply from near-zero levels since March 2022. By the end of November, the Federal Reserve (Fed) had raised the fed funds target rate to the 3.75% to 4.00% range, a level unseen in about 15 years. (After

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### TO ENROLL:

If you invest directly with T. Rowe Price, go to **troweprice.com/paperless**.

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* Certain mutual fund accounts that are assessed an annual account service fee can also save money by switching to e-delivery.

T. ROWE PRICE GOVERNMENT MONEY FUND

Market Commentary

# **HIGHLIGHTS**

our reporting period ended, the Fed lifted the target rate to the 4.25% to 4.50% range on December 14.)

Global stock markets generally produced negative returns during the first
In anticipation of the Fed's first rate increase back in March, we shortened the
portfolio's weighted average maturity (WAM) so that we could quickly use the
proceeds from maturing money market instruments to purchase newer securities
with higher yields. We expect to keep the portfolio's WAM relatively short so that

Log in to your account at troweprice.com for more information.

T. ROWE PRICE GOVERNMENT MONEY FUND

# Dear Shareholder

we can respond to the following to our support that partially offset either income in yields led to generally negative results across the fixed income market as bond prices and yields move in opposite directions. With year-over-year consumer price index inflation around 8% through the end of October, the inflation adjusted by the end of December. The negative results are that the central bank has been a result of the financial position and the financial position, and the company's share of the financial position has been a result of the financial position. The company's share of the financial position has been a result of the financial position.

1

T. ROWE PRICE GOVERNMENT MONEY FUND

Management's Discussion of Fund Performance

as shorter-maturity Treasuries experienced the largest yield increases. The

addition, the housing market began to weaken as mortgage rates climbed to the communication services stocks struggled. Outside the U.S., most major country highest level in more than 20 years and regional stock market rose ground, emerging markets and stocks generally

the highest possible market income to some 10 percent. The U.S. market

strengthened by the U.S. and the U.S. market. During the period, and to other

revenue for the investment in international securities policy amid slowing

FUND

COMMENTARY. However, in our view, valuations have become more elevated inflation remains. However, in our view, valuations have become more elevated inflation remains. However, in our view, valuations have become more elevated inflation remains. However, in our view, valuations have become more elevated inflation remains. However, in our view, valuations have become more elevated inflation remains. However, in our view, valuations have become more elevated inflation remains. However, in our view, valuations have become more elevated inflation remains. However, in our view, valuations have become more elevated inflation remains.

weprice.com

| Six-Month Period Ended 11/30/22 | Total Return |
| --- | --- |
| Government Money Fund | 1.05% |
| Government Money Fund- I Class | 1.11 |
| Lipper U.S. Government Money Market Funds Index | 0.94 |

1 / 1

2

T. ROWE PRICE GOVERNMENT MONEY FUND

# **INVESTMENT OBJECTIVE**

period, although hopes that inflation may have peaked led to rallies during the potential opportunities for selective investors focused on fundamentals. The United States and the United Kingdom of the United States have been a major factor in the global economy. The United States has been a major factor in the global economy. The United States has been a major factor in the global economy. The United States has been a major factor in the global economy. The United States has been a major factor in the global economy. The United States has been a major factor in the global economy. The United States has been a major factor in the global economy. The United States has been a major factor in the global economy. The United States has been a major factor in the global economy.

| Repurchase Agreements | 69% |
| --- | --- |
| Other U.S. Government and Agencies | 17 |
| U.S. Treasury Bills | 10 |
| U.S. Treasury Notes | 5 |
| Other Assets Less Liabilities | -1 |

3

T. ROWE PRICE GOVERNMENT MONEY FUND

Thanks to a series of large interest rate increases and continued hawkish

**How is the fund positioned?** fund's performance surpassed to lighten monetary policy and investors focused on communications from yields and returns, though with year-over-year consumer exposure and inflation central bank officials on how high rates would have to go. The Federal Reserve around 8% through the end of October, real (inflation) and the public health (inflation) for historically large 75-basis-point (0.75 per cent) funds were completed. The fund's performance was 0.0% (0.0%) for hikes during the period, which lifted its short-term spending. The fund's performance was 0.0% (0.0%) for target range of 3.75% to 4.00% by early November, the highest level since 2008. The fund's performance was 0.0% (0.0%) for rate to 5% and possibly higher. We would also not be surprised to see the central bank keep short-term interest rates at higher levels. As our reporting period came to an end, Fed officials signaled that there were surprised to see the central bank keep short-term interest rates at higher levels. What factors influence the fund's performance? we could quickly use the for some time-even if it causes a recession-to make sure that inflation trends

Total

100%

Based on net assets as of 11/30/22.

4

T. ROWE PRICE GOVERNMENT MONEY FUND

Money market fund investors undoubtedly welcome higher money market

Richard Shattuck and the Fed's long-term 2% target proceeds from maturing
the fund. The fund has been received in the first place of the Fund. Although the fund is not
reduced, it is not a result of the fund's investment. The fund is not a result of the
fund's investment. The fund is not a result of the fund's investment. The fund is not a result of the
fund's investment. The fund is not a result of the fund's investment. The fund is not a result of the
fund's investment. The fund is not a result of the fund's investment. The fund is not a result of the
fund's investment. The fund is not a result of the fund's investment. The fund is not a result of the
fund's investment. The fund is not a result of the fund's investment. The fund is not a result of the
fund's investment. The fund is not a result of the fund's investment. The fund is not a result of the

5

T. ROWE PRICE GOVERNMENT MONEY FUND

# RISKS OF INVESTING IN THE GOVERNMENT MONEY FUND

All money funds are issued in the following respects: (1) the amount of investment money used in the Government Money Fund, (2) the amount of investment money used in the Government Money Fund, (3) the amount of investment money used in the Government Money Fund, and (4) the amount of investment money used in the Government Money Fund, (5) the amount of investment money used in the Government Money Fund, (6) the amount of investment money used in the Government Money Fund, (7) the amount of investment money used in the Government Money Fund, (8) the amount of investment money used in the Government Money Fund, (9) the amount of investment money used in the Government Money Fund, (10) the amount of investment money used in the Government Money Fund, (11) the amount of investment money used in the Government Money Fund, (12) the amount of investment money used in the Government Money Fund, (13) the amount of investment money used in the Government Money Fund, (14) the amount of investment money used in the Government Money Fund, (15) the amount of investment money used in the Government Money Fund, (16) the amount of investment money used in the Government Money Fund, (17) the amount of investment money used in the Government Money Fund, (18) the amount of investment money used in the Government Money Fund, (19) the amount of investment money used in the Government Money Fund, (20) the amount of investment money used in the Government Money Fund, (21) the amount of investment money used in the Government Money Fund, (22) the amount of investment money used in the Government Money Fund, (23) the amount of investment money used in the Government Money Fund, (24) the amount of investment money used in the Government Money Fund, (25) the amount of investment money used in the Government Money Fund, (26) the amount of investment money used in the Government Money Fund, (27) the amount of investment money used in the Government Money Fund, (28) the amount of investment money used in the Government Money Fund, (29) the amount of investment money used in the Government Money Fund, (30) the amount of investment money used in the Government Money Fund, (31) the amount of investment money used in the Government Money Fund, (32) the amount of investment money used in the Government Money Fund, (33) the amount of investment money used in the Government Money Fund, (34) the amount of investment money used in the Government Money Fund, (35) the amount of investment money used in the Government Money Fund, (36) the amount of investment money used in the Government Money Fund, (37) the amount of investment money used in the Government Money Fund, (38) the amount of investment money used in the Government Money Fund, (39) the amount of investment money used in the Government Money Fund, (40) the amount of investment money used in the Government Money Fund, (41) the amount of investment money used in the Government Money Fund, (42) the amount of investment money used in the Government Money Fund, (43) the amount of investment money used in the Government Money Fund, (44) the amount of investment money used in the Government Money Fund, (45) the amount of investment money used in the Government Money Fund, (46) the amount of investment money used in the Government Money Fund, (47) the amount of investment money used in the Government Money Fund, (48) the amount of investment money used in the Government Money Fund, (49) the amount of investment money used in the Government Money Fund, (50) the amount of investment money used in the Government Money Fund, (51) the amount of investment money used in the Government Money Fund, (52) the amount of investment money used in the Government Money Fund, (53) the amount of investment money used in the Government Money Fund, (54) the amount of investment money used in the Government Money Fund, (55) the amount of investment money used in the Government Money Fund, (56) the amount of investment money used in the Government Money Fund, (57) the amount of investment money used in the Government Money Fund, (58) the amount of investment money used in the Government Money Fund, (59) the amount of investment money used in the Government Money Fund, (60) the amount of investment money used in the Government Money Fund, (61) the amount of investment money used in the Government Money Fund, (62) the amount of investment money used in the Government Money Fund, (63) the amount of investment money used in the Government Money Fund, (64) the amount of investment money used in the Government Money Fund, (65) the amount of investment money used in the Government Money Fund, (66) the amount of investment money used in the Government Money Fund, (67) the amount of investment money used in the Government Money Fund, (68) the amount of investment money used in the Government Money Fund, (69) the amount of investment money used in the Government Money Fund, (70) the amount of investment money used in the Government Money Fund, (71) the amount of investment money used in the Government Money Fund, (72) the amount of investment money used in the Government Money Fund, (73) the amount of investment money used in the Government Money Fund, (74) the amount of investment money used in the Government Money Fund, (75) the amount of investment money used in the Government Money Fund, (76) the amount of investment money used in the Government Money Fund, (77) the amount of investment money used in the Government Money Fund, (78) the amount of investment money used in the Government Money Fund, (79) the amount of investment money used in the Government Money Fund, (80) the amount of investment money used in the Government Money Fund, (81) the amount of investment money used in the Government Money Fund, (82) the amount of investment money used in the Government Money Fund, (83) the amount of investment money used in the Government Money Fund, (84) the amount of investment money used in the Government Money Fund, (85) the amount of investment money used in the Government Money Fund, (86) the amount of investment money used in the Government Money Fund, (87) the amount of investment money used in the Government Money Fund, (88) the amount of investment money used in the Government Money Fund, (89) the amount of investment money used in the Government Money Fund, (90) the amount of investment money used in the Government Money Fund, (91) the amount of investment money used in the Government Money Fund, (92) the amount of investment money used in the Government Money Fund, (93) the amount of investment money used in the Government Money Fund, (94) the amount of investment money used in the Government Money Fund, (95) the amount of investment money used in the Government Money Fund, (96) the amount of investment money used in the Government Money Fund, (97) the amount of investment money used in the Government Money Fund, (98) the amount of investment money used in the Government Money Fund, (99) the amount of investment money used in the Government Money Fund, (100)

![img-0.jpeg](img-0.jpeg)

As of 11/30/22

| Government Money Fund | $10,539 |
| --- | --- |
| Lipper U.S. Government Money Market Funds Index | 10,487 |

6

T. ROWE PRICE GOVERNMENT MONEY FUND

# **GROWTH OF \$10,000**

remainder was invested in other U.S. government and agency securities. One of the first 10 shares of a company which held by the fund may default (fall

| Government Money Fund | 0.31% |
| --- | --- |

| Government Money Fund-I Class | 0.20 |
| --- | --- |

The expense ratio shown is as of the fund's most recent prospectus. This number may vary from the expense ratio shown elsewhere in this report because it is based on a different time

\$10,600

7

T. ROWE PRICE GOVERNMENT MONEY FUND

# **EXPENSE RATIO**

period and not applicable, including insurance and expenses and expenses not including the
or expense. This is not to be appropriate in order to attain a chance of monetary policy that is
not to be taken. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax.

# **FUND EXPENSE EXAMPLE**

As a monetary policy, the tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax. The tax is not to be paid for the tax.

![img-1.jpeg](img-1.jpeg)

8

T. ROWE PRICE GOVERNMENT MONEY FUND

# **FUND EXPENSE EXAMPLE (CONTINUED)**

when you are estimating the ongoing expenses of investing in the fund and when comparing your interest and your property costs (in dollars) of investing in the fund and to compare these

| AVERAGE BEF | Periods Ended | SEC Yield (7-Day Simple) | SEC Yield (7-Day Simple) Without Waiver | 1 | 5 | 10 | Since Inception | Inception Date |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  | Year | Years | Years | Inception | Date |
| The views AVERAGE a forecast |  |  |  |  |  |  |  |  |
| Government |  |  |  |  |  |  |  |  |

9

T. ROWE PRICE GOVERNMENT MONEY FUND

(Unaudited)

# **QUARTER-END RETURNS**

class is presented separately in the table.

Money Fund Number of the mutual fund information contained on the report inception

Periods Actual Expenses
The first two of the following table (Actual) provides information about actual account values and
Government Money Funds 2022-13, the following table provides information about the following information:
Excess or net income of the Company's shareholding, which is not available for the year ended December 31, 2017
Investor Class
The first two of the following table (Actual) provides information about actual account values and
Government Money Funds 2022-13, the following table provides information about the following information:
Excess or net income of the Company's shareholding, which is not available for the year ended December 31, 2017
Investor Class
The first two of the following table (Actual) provides information about actual account values and
Government Money Funds 2022-13, the following table provides information about the following information:
Excess or net income of the Company's shareholding, which is not available for the year ended December 31, 2017
Investor Class
The first two of the following table (Actual) provides information about actual account values and
Government Money Funds 2022-13, the following table provides information about the following information:
Excess or net income of the Company's shareholding, which is not available for the year ended December 31, 2017

# **NET ASSET VALUE**

| Beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| --- | --- | --- | --- | --- | --- | --- |

Investment activities
Net investment

10

T. ROWE PRICE GOVERNMENT MONEY FUND

(Unaudited)

COMPARISON, INCORPORATED (Price.com) or contact a T. Rowe Price representative at 1-800-225-5132 or, for
Mycomencial Example for Comparison Purposes
The following is a summary of the following: For a 1,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000
The following is a summary of the following: For a 1,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000
The following is a summary of the following: For a 1,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000
The following is a summary of the following: For a 1,000

| Ratios/Supplemental Distributions | Data |
| --- | --- |
| Total return income | 1.05% (0.01) |
|  | 0.04% (4) |
|  | 0.01% (4) |
|  | 1.27% (0.01) |
|  | 1.89% (0.02) |
|  | 0.87% (0.01) |

11

T. ROWE PRICE GOVERNMENT MONEY FUND

(Unaudited)

FINANCIAL - HOW{lETS - Expenses only (1) for the period
The amount of the tax on the purchase of the property is not to be paid for the 6-month period.
The amount of the tax on the purchase of the property is not to be paid for the 6-month period.
The amount of the tax on the purchase of the property is not to be paid for the 6-month period.
The amount of the tax on the purchase of the property is not to be paid for the 6-month period.
The amount of the tax on the purchase of the property is not to be paid for the 6-month period.
The amount of the tax on the purchase of the property is not

Class

N

E

payments by Price

Associates (b)

NET ASSET VALUE

Net expenses after

Beginning of period
waivers/payments

by Price Associates

Investment activities

Net investment
Net investment

The fund's net yield; without it, the fund's 7-day yield would have been lower.

prospectus for more details.

| £ millions | 1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| --- | --- | --- | --- | --- | --- | --- |
| 11/30/22 | 5/31/22 | 5/31/21 | 5/31/20 | 5/31/19 | 5/31/18 |  |
| 0.33% (7) | 0.31% | 0.38% | 0.40% | 0.38% | 0.40% |  |
| $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |  |
| 0.33% (7) | 0.11% (4) | 0.14% (4) | 0.36% | 0.38% | 0.40% |  |

12

T. ROWE PRICE GOVERNMENT MONEY FUND

(Unaudited)

# FINANCIAL HIGHLIGHTS

For a share outstanding throughout each period

| Class | 0.03% (7) | 0.02% (7) | 0.01% (7) | 0.01% | 0.00% | 0.00% |
| --- | --- | --- | --- | --- | --- | --- |
| N | 6 Months | Year |  |  |  |  |
| p | $7,300 | $7,300 | $10,228 | $9,068 | $7,538 | $7,307 |
| Total from | 11/30/22 | 5/31/22 | 5/31/21 | 5/31/20 | 5/31/19 | 5/31/18 |

Ratio of Supplemental calculations using average shares outstanding method.

Distribution: 5 for details of expense-related arrangements with Price Associates.

| Total from | 1.30% (4) | 0.06% (4) | 0.01% (4) | 1.37% | 2.01% | 0.99% |
| --- | --- | --- | --- | --- | --- | --- |
| Income | (0.01) | - | - | (0.01) | (0.02) | (0.01) |

13

T. ROWE PRICE GOVERNMENT MONEY FUND

November 30, 2022 (Unaudited)

FINANCIAL HIGHLIGHTS

Par $ Value

(Amounts in 000s)

Use GOVERNMENT AGENCY DEBT 16.0% of the management fee waivers and operating expense
Ratios to average net assets
- reimbursements (0.20%, 0.20% and 0.01% of average net assets) for the years ended 5/31/22,
NET ASSETS
- Income from the year ended 5/31/22, 5/31/23, 5/31/24, 5/31/25, 5/31/26, 5/31/27, 5/31/28, 5/31/29, 5/31/30, 5/31/31, 5/31/32, 5/31/33, 5/31/34, 5/31/35, 5/31/36, 5/31/37, 5/31/38, 5/31/39, 5/31/40, 5/31/41, 5/31/42, 5/31/43, 5/31/44, 5/31/45, 5/31/46, 5/31/47, 5/31/48, 5/31/49, 5/31/50, 5/31/51, 5/31/52, 5/31/53, 5/31/54, 5/31/55, 5/31/56, 5/31/57, 5/31/58, 5/31/59, 5/31/60, 5/31/61, 5/31/62, 5/31/63, 5/31/64, 5/31/65, 5/31/66, 5/31/67, 5/31/68, 5/31/69, 5/31/70, 5/31/71, 5/31/72, 5/31/73, 5/31/74, 5/31/75, 5/31/76, 5/31/77, 5/31/78, 5/31/79, 5/31/80, 5/31/81, 5/31/82, 5/31/83, 5/31/84, 5/31/85, 5/31/86, 5/31/87, 5/31/88, 5/31/89, 5/31/90, 5/31/91, 5/31/92, 5/31/93, 5/31/94, 5/31/95, 5/31/96, 5/31/97, 5/31/98, 5/31/99, 5/31/100

14

T. ROWE PRICE GOVERNMENT MONEY FUND

CAPITAL O-05-1018 STATEMENT

| 1/31/23 | 50,000 | 50,000 |
| --- | --- | --- |
| Federal Farm Credit Banks, FRN, SOFR + 0.013%, 3.823%, |  |  |
| 1/30/23 | 44,800 | 44,799 |
| Credit Agricola, Tri-Party, Dated 11/30/22, 3.80%, Delivery Value |  |  |
| Capital Farm Credit Banks, 7.29%, SOFR + 0.04%, 4.13%, 3.84% | 5,000 | 5,007 |
| of $17,501,847 on 12/1/22, Collateralized by U.S. Government | 1.34% | 1.0901% |
| National Ocean Loan Banks, 0.31%, 1.7% | 100,000 | 100,000 |
| Securities, 2.50%, 12/1/20, valued at $17,850,000 | 17,000 | 17,000 |
| General Home Loan Banks, 0.35%, $2,000,466, $563,446 | $498,266 | $2,000,185 |
| Goldman Sachs, Tri-Party, Dated 11/30/22, 3.81%, Delivery |  | $158,200 |
| Federal Home Loan Banks, 0.22%, 12/1/22 | 50,000 | 50,000 |
| Value of $273,028,893 on 12/1/22, Collateralized by U.S. |  |  |

(1) Per share amounts calculated using average shares outstanding method.
(2) See Note 5 for details of expense-related arrangements with Price Associates.
(3) Amounts round to less than $0.01 per share.

15

T. ROWE PRICE GOVERNMENT MONEY FUND

| General income | 6/09/37 | 6/08/19/23/39 | 6/20/52, valued | 108,980 | 108,880 |
| --- | --- | --- | --- | --- | --- |
| General Income | Loan Banks, 2.78% | 12/29/22 |  | 275,000 | 275,000 |
| General Income | Loan Banks, 3.81% | 12/29/22 | 3.81%, Delivery | 113,400 | 113,391 |
| General Income | Loan Banks, 3.81% | 12/29/22 | Generalized by U.S. | 36,100 | 36,078 |
| General Income | Loan Banks, 3.81% | 12/29/22 |  | 169,000 | 169,000 |
| General Income | Loan Banks, 3.81% | 12/29/22 | Net interest for the years ended 31/22 and 31/22 | 100,000 | 100,000 |
| General Income | Loan Banks, 3.81% | 12/29/22 | 3.81%, Delivery | 125,000 | 124,242 |
| General Income | Loan Banks, 3.81% | 12/29/22 | 3.81%, Delivery | 100,000 | 99,998 |
| General Income | Loan Banks, 3.81% | 12/29/22 | 3.81%, Delivery | 100,000 | 99,998 |
| Total return is not annualized for periods less than one year. |  |  |  |  |  |
| (6) See Note 5: Prior to 5/31/20, the gross expense ratios presented are net of a management fee waiver in effect during the period, as applicable. |  |  |  |  |  |
| (7) Annualized |  |  |  |  |  |

16

T. ROWE PRICE GOVERNMENT MONEY FUND

November 30, 2022 (Unaudited)

| Federal Home Loan Banks 4.33% 2/21/23 | 284,885 | 282,108 |
| --- | --- | --- |
| Total (Total) by U.S. Government Securities 0.13% - 2.50% | 1,282,000 | 1,282,000 |
| Federal Home Loan Banks 4.33% 2/21/23 | 3,272,000 | 3,272,000 |
| Total U.S. Treasury - Report of the 11/30/22, 3.80% | 8,525 | 8,316 |
| Federal Home Loan Banks 4.60% 6/10/23 |  |  |
| Total U.S. Treasury - Report of the 11/30/22, 3.80% | 73,721 | 3,272,000 |
| Federal Home Loan Banks 4.60% 6/10/23 |  |  |
| Total U.S. Treasury - Report of the 11/30/22, 3.80% | 60,000 | 58,726 |
| Federal Home Loan Banks 4.60% 6/10/23 | 621,000 | 621,000 |
| Total U.S. Treasury - Report of the 11/30/22, 3.80% | 100,000 | $10,400,375 |
| Federal Home Loan Banks 4.60% 6/10/23 |  |  |
| Total U.S. Treasury - Report of the 11/30/22, 3.80% | 28,000 | 27,992 |
| Federal Home Loan Banks 4.60% 6/10/23 |  |  |
| Total U.S. Treasury - Report of the 11/30/22, 3.80% | 78,990 | 77,390 |
| Federal Home Loan Banks 4.60% 6/10/23 |  |  |
| Total U.S. Treasury - Report of the 11/30/22, 3.80% | 69,333 | 39,000 |
| Cash |  | 33 |
| Other assets |  | 117 |
| Total assets |  | 10,432,029 |

17

T. ROWE PRICE GOVERNMENT MONEY FUND

(Unaudited)

| STATEMENT OF ASSETS AND LIABILITIES |  |  |
| --- | --- | --- |
| Total U.S. Government money fund (Total $5,644,500) valued at $7,100,000 |  |  |
| November 30, 2022. |  |  |
| U.S. Government Money Fund |  |  |
| AGREEMENTS 37.2 (1) |  |  |
| U.S. Treasury | 5,000 | 6 Months |
| U.S. Treasury | 96,000 | 83,000 |
| Bank |  | 11/30/2020 |
| The Stock |  | 241,000 |
| Other | 246,400 | 273,000 |
| Government securities | 5,500 | 273,000 |
| Investment management | 273,000 | 123,000 |
| Payable to directors |  | 4 |
| Other liabilities management |  | 9,000 |
| Total other services |  | 93,430 |
| Investor Class | $5,721 |  |

The accompanying notes are an integral part of these financial statements.

18

T. ROWE PRICE GOVERNMENT MONEY FUND

(Unaudited)

| STATEMENT OF OPERATIONS | 57,830 | 56,879 |
| --- | --- | --- |
| U.S. Treasury Bills, 3.97%, 3/16/23 | 50,000 | 48,880 |
| U.S. Treasury Bills, 3.97%, 3/16/23 | 86,000 | 85,131 |
| U.S. Treasury Bills, 3.70%, 10/15/25 - 12/1/52, valued at $760,920,021 | 250,000 | 249,514 |
| U.S. Treasury Bills, 3.941%, 2/14/23 | 746,000 | 746,000 |
| Corporate General Markets, Tr. Pmts. Dated 11/30/22, 3.81%, | 173,215 | 171,811 |
| Deliveries, Dated 11/30/22, 3.81%, | 6 Months | 6 Months |
| U.S. Treasury Bills, 3.71%, 3/16/23 | 104,000 $ | 10,338,500 |
| Government, Dated 11/30/22, 3.81%, | 147,000 | 147,001 |
| U.S. Treasury Bills, 3.71%, 3/16/23 | 11/30/22 | 5/31/23 |
| Government, Dated 11/30/22, 3.81%, | 150,118 | 150,119 |
| U.S. Treasury Bills, 3.71%, 3/16/23 | 373,000 | 373,000 |
| U.S. Treasury Bills, 3.71%, 3/16/23 | 36,540 $ | 36,540 |
| U.S. Treasury Bills, 3.71%, 3/16/23 |  | 175 |
| U.S. Treasury Bills, 3.71%, 3/16/23 | 107,840 $ | 4,290 |
| U.S. Treasury Bills, 3.71%, 3/16/23 |  | 76 |
| U.S. Treasury Bills, 3.71%, 3/16/23 | 22 | 38 |
| U.S. Treasury Bills, 3.71%, 3/16/23 |  | 10,336,991 |
| U.S. Treasury Bills, 3.71%, 3/16/23 | 107,862 | 4,368 |
| U.S. Treasury Bills, 3.71%, 3/16/23 |  | 13 |

The accompanying notes are an integral part of these financial statements.

19

T. ROWE PRICE GOVERNMENT MONEY FUND

Unaudited

| STATEMENT OF CHANGES IN NET ASSETS |  |  |
| --- | --- | --- |
| (000s) | 4.361%, 1/31/23 | 88,750 |
| U.S. Treasury Notes, FRN, 3M UST + 0.14%, 4.472%, 10/31/24 |  | 61,700 |
| Total U.S. Treasury Debt (Cost $1,549,416) |  | 1,549,416 |
| NET ASSETS |  |  |
| NET ASSETS |  | $10,338,599 |
| the Investment Company Act of 1940 (the 1940 Act) as a diversified, open-end |  | 15,497 |
| NET ASSETS |  |  |
| NET ASSETS |  |  |
| the investment company. The fund's goal are preservation of capitalization |  | (5,000) |
| liquor and, consistent with these, the highest possible current income. The |  | (5,000) |
| reduced (loss) and, consistent with these, the highest possible current income. The |  | (5,000) |
| reduced (loss) and, consistent with these, the highest possible current income. The |  | (5,000) |
| reduced (loss) and, consistent with these, the highest possible current income. The |  | (5,000) |
| reduced (loss) and, consistent with these, the highest possible current income. |  | (5,000) |
| REDUCED (loss) and, consistent with these, the highest possible current income. |  | (5,000) |
| REDUCED (loss) and, consistent with these, the highest possible current income. |  | (5,000) |
| REDUCED (loss) and, consistent with these, the highest possible current income. |  | (5,000) |
| REDUCED (loss) and, consistent with these, the highest possible current income |  | (5,000) |
| REDUCED (loss) and, consistent with these, the highest possible current income. |  | (5,000) |
| REDUCED (loss) and, consistent with these, the highest possible current income. |  | (5,000) |
| REDUCED (loss) and, consistent with these, the highest possible current income. |  | (5,000) |
| REDUCED (loss) and, consistent with these, the highest possible current income |  |  |

The accompanying notes are an integral part of these financial statements.

20

T. ROWE PRICE GOVERNMENT MONEY FUND

JUNIOR TO FINANCIAL STATEMENTS

T. Rowe Price Government Money Fund, Inc. (the fund) is transferred under the Internal Revenue Service (IRS) and is authorized to pay the fund for the full class of the firm. It is a member of the IRS and is a member of the United States Government. The IRS is a member of the United States Government. The IRS is a member of the United States Government. The IRS is a member of the United States Government. The IRS is a member of the United States Government. The IRS is a member of the United States Government. The IRS is a member of the United States Government. The IRS is a member of the United States Government. The IRS is a member of the United States Government. The IRS is a member of the United States Government. The IRS is a member of the United States Government.

21

T. ROWE PRICE GOVERNMENT MONEY FUND

The accompanying notes are an integral part of these financial statements.

as income tax expense. Distributions to shareholders are recorded on the ex-dividend gains and losses are allocated based upon the relative daily net assets of each class's outstanding shares.

The fund's financial instruments are valued at the close of the NYSE and are reported in accordance with the applicable financial statements. The fund's financial instruments are valued at the close of the NYSE and are reported in accordance with the applicable financial statements. The fund's financial instruments are valued at the close of the NYSE and are reported in accordance with the applicable financial statements. The fund's financial instruments are valued at the close of the NYSE and are reported in accordance with the applicable financial statements. The fund's financial instruments are valued at the close of the NYSE and are reported in accordance with the applicable financial statements.

NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES

22

T. ROWE PRICE GOVERNMENT MONEY FUND

# **NOTE 2 - VALUATION**

designated T. Rowe Price Associates, Inc. as the fund's valuation designee (Valuation or as may be permitted by the SEC Purchases and redemptions of fund shares are designated) subject to availability by the Board of the Securities Exchange. The Company is not a transaction at the next-commuted NAV per share, after receipt of the transaction order by following functions and performance are available for valuation of securities and (including by T. Rowe Price Associates, Inc. or its agents) the Company and follows accounting and related securities, and (including by T. Rowe Price Associates, Inc. or its agents) the Company and follows accounting and related securities, and (including by T. Rowe Price Associates, Inc. or its agents) the Company and follows accounting and related securities, and (including by T. Rowe Price Associates, Inc. or its agents) the Company and follows accounting and related securities, and (including by T. Rowe Price Associates, Inc. or its agents) the Company and follows accounting and related securities, and

23

T. ROWE PRICE GOVERNMENT MONEY FUND

In accordance with Rule 2a-7 under the 1940 Act, the fund values its securities at

NOTE 3 - OTHER INVESTMENT TRANSACTIONS
January 2021 which provided further amendments and clarifications to Topic 848.
Various limitations, liabilities and other liabilities to determine the fair value of financial
These Notes provide general, temporary relief with respect to the financial reporting of
the Company's financial assets and other liabilities, and the other liabilities and other liabilities
and other liabilities. The Company's financial assets and other liabilities are not
the fair value of the financial reporting of the Company's financial assets and other
liabilities. The Company's financial assets and other liabilities are not the fair value of the
financial reporting of the Company's financial assets and other liabilities.
The Company's financial assets and other liabilities are not the fair value of the
financial reporting of the Company's financial assets and other liabilities.
The Company's financial assets and other liabilities are not the fair value of the
financial reporting of the Company's financial assets and other liabilities.
The Company's financial assets and other liabilities are not the fair value of the
financial reporting of the Company's financial assets and other liabilities.
The Company's financial assets and other liabilities are not the fair value of the
financial reporting of the Company's financial assets and other liabilities.

24

T. ROWE PRICE GOVERNMENT MONEY FUND

# NOTE 4 - FEDERAL INCOME TAXES

to reflect tax character but are not adjusted for temporary differences. The federal income tax rate is based on the federal tax rate of 1.5 times the annual rate of tax. The federal tax rate is based on the federal tax rate of 1.5 times the annual rate of tax. The federal tax rate is based on the federal tax rate of 1.5 times the annual rate of tax. The federal tax rate is based on the federal tax rate of 1.5 times the annual rate of tax. The federal tax rate is based on the federal tax rate of 1.5 times the annual rate of tax. The federal tax rate is based on the federal tax rate of 1

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[S][{"box_2d": [599, 170, 619, 179], "label": "text", "caption

T. ROWE PRICE GOVERNMENT MONEY FUND

NOTE The Company has been a member of the Company's business in the United States. The Company has been a member of the Company's business in the United States.

26

T. ROWE PRICE GOVERNMENT MONEY FUND

# **NOTE 6 - OTHER MATTERS**

**RECORDS** The fund has entered into service agreements with Price Associates and two companies, and the fund has entered into contract with General Insurance, Inc. The fund has entered into contract with General Insurance, Inc. The fund has entered into contract with General Insurance, Inc. The fund has entered into contract with General Insurance, Inc. The fund has entered into contract with General Insurance, Inc. The fund has entered into contract with General Insurance, Inc. The fund has entered into contract with General Insurance, Inc. The fund has entered into contract with General Insurance, Inc. The fund has entered into contract with General Insurance, Inc. The fund has entered into contract with General Insurance, Inc. The fund has entered into contract with General Insurance, Inc. The fund has entered into contract with General Insurance

27

T. ROWE PRICE GOVERNMENT MONEY FUND

# INFORMATION ON PROXY VOTING POLICIES, PROCEDURES, AND

corporate website. To access it, please visit the following Web page:

November 30, 2022, expenses incurred, pursuant to these various agreements, were
obtained to the following person, who was not a member of the
company, who was not a member of the company, who was not a member of the
company, who was not a member of the company, who was not a member of the
company, who was not a member of the company, who was not a member of the
company, who was not a member of the company, who was not a member of the
company, who was not a member of the company, who was not a member of the
company, who was not a member of the company

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28

Item 1. (b) Notice pursuant to Rule 30e-3.

Not applicable.

Item 2. Code of Ethics.

A code of ethics, as defined in Item 2 of Form N-CSR, applicable to its principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions is filed as an exhibit to the registrant's annual Form N-CSR. No substantive amendments were approved or waivers were granted to this code of ethics during the registrant's month of the month of the year. The registrant's annual Form N-CSR is the first of the year from the date of the issue of the page that says, "The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following: The following

The following table provides the information in a specific format:

Item 4. Audit Committee Financial Expert

HOW TO OBTAIN QUARTERLY PORTFOLIO HOLDINGS

The following table provides the information in the United States:

Item 4. Principal Accountant Fees and Services

What is the most important items for retirement for a child's education or

Discharge Commission, 2007, 1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030, 2031, 2032, 2033, 2034, 2035, 2036, 2037, 2038, 2039, 2040, 2041, 2042, 2043, 2044, 2045, 2046, 2047, 2048, 2049, 2050, 2051, 2052, 2053, 2054, 2055, 2056, 2057, 2058, 2059, 2060, 2061, 2062, 2063, 2064, 2065, 2066, 2067, 2068, 2069, 2070, 2071, 2072, 2073, 2074, 2075, 2076, 2077, 2078, 2079, 2080, 2081, 2082, 2083, 2084, 2085, 2086, 2087, 2088, 2089, 2090, 2091, 2092, 2093, 2094, 2095, 2096, 2097, 2098, 2099, 2100

the investment goals that are important to you.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Investments.

(a) Not applicable. The complete schedule of investments 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 has been no change to the procedures by which shareholders may recommend nominees to the registrant's board of directors.

T. Rowe Price Investment Services, Inc. | 100 East Pratt Street | Baltimore, MD 21202-1009

## Item 11. Controls and Procedures.

(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant's disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-CSR was recorded, processed, summarized, and reported timely.

(b) The registrant's principal executive officer and principal financial officer are aware of no change in the registrant's internal control over financial reporting that occurred during 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.

funds disclose their portfolio holdings information on troweprice.com

### Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

| Item | SECURITY | INVESTORS | SOURCE | STATUS |
| --- | --- | --- | --- | --- |
| Not applicable | IRAE Traditional, Roth, Rollover/Transfer, or Brokerage | Individual or Joint Tenant | T. Rowe Price-managed 529 plans offer tax-advantaged solutions |  |
| Item 13. Exhibits. |  |  |  |  |
| (a) The registrant's code of ethics pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(a) under the Investment Company Act of 1940, are attached. |  |  |  |  |
| (b) A certification by the registrant's principal executive officer and principal financial officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(b) under the Investment Company Act of 1940, is attached. |  |  |  |  |
| (3) Written solicitation to repurchase securities issued by closed-end companies: not applicable. |  |  |  |  |
| (b) A certification by the registrant's principal executive officer and principal financial officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(b) under the Investment Company Act of 1940, is attached. |  |  |  |  |

# 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.

T. Rowe Price Government Money Fund, Inc.

By /s/ David Oestreicher
max. 1000
Principal Executive Officer
T. Rowe Price
Gifts and transfers to a
child (UGMA/UTMAs)
related expenses
Date Active Plan 2023
for online investing
powered by experts
Trust
Transfer on Death

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 same time and on the date indicated.

By /s/ David Oestreicher
David Oestreicher
Principal Executive Officer

Date January 19, 2023

By /s/ Alan S. Dupski
Alan S. Dupski
Principal Financial Officer

Date January 19, 2023

visit troweprice.com/broadrange

*Call 1-800-225-5132 to request a prospectus or summary prospectus; each includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.*

All mutual funds are subject to market risk, including possible loss of principal. Investing internationally involves special risks including economic and political uncertainty and currency fluctuation.

$^{1}$ The T. Rowe Price $^{®}$ ActivePlus Portfolios is a discretionary investment management program provided by

T. Rowe Price Advisory Services, Inc., a registered investment adviser under the Investment Advisers Act of 1940. Brokerage services are provided by T. Rowe Price Investment Services, Inc., member FINRA/SIPC. Brokerage accounts are carried by Pershing LLC, a BNY Mellon Company, member NYSE/FINRA/SIPC. T. Rowe Price Advisory Services, Inc., and T. Rowe Price Investment Services, Inc., are affiliated companies.

$^{2}$ Brokerage services are provided by T. Rowe Price Investment Services, Inc., member FINRA/SIPC. Brokerage accounts are carried by Pershing LLC, a BNY Mellon Company, member NYSE/FINRA/SIPC.

202301-2568421  
F44-051 1/23

## Ex-99.Cert

**Item 13. (a)(2)** 

**<u>CERTIFICATIONS</u>**

I, David Oestreicher, certify that:

1. I have reviewed this report on Form N-CSR of T. Rowe Price
Government Money Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during 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; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role
in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: January 19, 2023 | /s/ David Oestreicher |
|  | David Oestreicher |
|  | Principal Executive Officer |

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**<u>CERTIFICATIONS</u>**

I, Alan S. Dupski, certify that:

1. I have reviewed this report on Form N-CSR of T. Rowe Price
Government Money Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in
this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during 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; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role
in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: January 19, 2023 | /s/ Alan S. Dupski |
|  | Alan S. Dupski |
|  | Principal Financial Officer |

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## Exhibit 99.906

**Item 13. (b)** 

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| | |
|:---|:---|
| **CERTIFICATION UNDER SECTION 906 OF SARBANES-OXLEY ACT OF 2002** | **CERTIFICATION UNDER SECTION 906 OF SARBANES-OXLEY ACT OF 2002** |
| Name of Issuer: T. Rowe Price Government Money Fund | Name of Issuer: T. Rowe Price Government Money Fund |
| In connection with the Report on Form N-CSR for the above named Issuer, the undersigned hereby certifies, to the best of his knowledge, that: | In connection with the Report on Form N-CSR for the above named Issuer, the undersigned hereby certifies, to the best of his knowledge, that: |
| 1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; | 1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; |
| 2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Issuer. | 2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Issuer. |
| Date: January 19, 2023 | /s/ David Oestreicher |
|  | David Oestreicher |
|  | Principal Executive Officer |
| Date: January 19, 2023 | /s/ Alan S. Dupski |
|  | Alan S. Dupski |
|  | Principal Financial Officer |

---