Abstract Objective There is a well-established relationship between depression and memory functioning in adults (Perini et al., 2019) and children (Weir et al., 2012). There is a high rate of comorbidity between ADHD, reading disorders (RD; Wilcutt & Pennington, 2000) and depression (Meinzer et al., 2014) as well. Hence, this study sought to determine whether RD and ADHD are still related to short-term (STM)/working memory (WM) functioning when controlling for depressed mood. Method Participants included 187 children (55% male, 86% Caucasian), ages 8-12 years, with a diagnosis of ADHD, RD, comorbid RD/ADHD or were controls. They participated in a larger, NIH-funded study (R03HD048752, R15HD065627), representing a community sample. Memory was assessed with the WISC-IV LNS and DSF and the CMS Sequences subtests. Mood was measured with CDI Total score. Results 2x2 MANOVA/MANCOVA was used, with and without controlling for mood. The MANOVA was significant for ADHD (Wilks’ lambda = .93) and RD (Wilks’ lambda = .66; ps < .01); the interaction showed a trend (Wilks’ lambda = .96; p = .07). For ADHD, significance was driven by LNS and Sequences (ps < .01). In contrast, for RD all three variables were significant (ps < .001). The LNS interaction was significant (p = .02). The CDI was related to DSF and LNS (ps < .01). The MANCOVA findings were similar to the MANOVA’s except the significance was slightly reduced overall. Conclusion(s) Findings suggest depressed mood may affect verbal STM and WM performance in children with ADHD and/or RD. As MANCOVA findings were significant, there likely are other factors that affect memory performance in these diagnostic groups as well.