DREYFUS GOVERNMENT CASH MANAGEMENT FUNDS
2012-05-30
2012-06-01
2012-01-31
485BPOS
0000740766
false
2012-06-01
The fund is non-diversified, which means that a relatively high percentage of the fund's assets may
be invested in a limited number of issuers. Therefore, the fund's performance may be more vulnerable
to changes in the market value of a single issuer or a group of issuers and more susceptible to risks
associated with a single economic, political or regulatory occurrence than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000021482Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Participant shares call toll-free 1-800-346-3621.        <br />Individuals or entities for whom institutions may purchase or redeem shares should <br />call the institution directly. </tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q2, 2009: 0.11%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Participant shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal, New York state and New York<br />city income taxes. The fund does not invest in municipal obligations that pay<br />interest subject to the federal alternative minimum tax. The fund also may<br />invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal, New York state<br />and New York city personal income taxes, the fund may invest temporarily in high<br />quality, taxable money market instruments and/or municipal obligations that pay<br />income exempt only from federal income tax, including when the portfolio manager<br />believes that acceptable New York municipal obligations are unavailable for<br />investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the<br />fund's Participant shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce the <br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that New York's economy,<br />and the revenues underlying its municipal obligations, may decline. Investing<br />primarily in a single state makes the fund more sensitive to risks specific to<br />the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Participant shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000021482Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000021482Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000021482Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal, New York<br />state and New York city personal income taxes as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:<br /> </tt>
DHPXX
0.0022
2008-09-13
0.0000
2011-09-30
0.0000
0.0000
883
395
0.0011
0.0000
0.0011
0.0020
0.0021
73
2009-06-30
227
0.0040
0.0071
The year-to-date total return of the fund's Participant shares
0.0000
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets
may be invested in a limited number of issuers. Therefore, the fund's performance may be more
vulnerable to changes in the market value of a single issuer or a group of issuers and more
susceptible to risks associated with a single economic, political or regulatory occurrence
than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000021482Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Investor shares call toll-free 1-800-346-3621. Individuals or entities <br />for whom institutions may purchase or redeem shares should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q2, 2007: 0.81%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Investor shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal, New York state and New York<br />city income taxes. The fund does not invest in municipal obligations that pay<br />interest subject to the federal alternative minimum tax. The fund also may<br />invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal, New York state<br />and New York city personal income taxes, the fund may invest temporarily in high<br />quality, taxable money market instruments and/or municipal obligations that pay<br />income exempt only from federal income tax, including when the portfolio manager<br />believes that acceptable New York municipal obligations are unavailable for<br />investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the<br />fund's Investor shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce <br />the fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that New York's economy,<br />and the revenues underlying its municipal obligations, may decline. Investing<br />primarily in a single state makes the fund more sensitive to risks specific to<br />the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Investor shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000021482Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000021482Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000021482Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal, New York<br />state and New York city personal income taxes as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:<br /> </tt>
DYVXX
0.0124
2002-02-25
0.0000
2011-09-30
0.0000
0.0069
0.0000
701
313
0.0316
0.0081
0.0000
0.0011
0.0183
0.0020
0.0031
0.0105
0.0191
57
2007-06-30
179
0.0049
0.0025
0.0056
0.0298
The year-to-date total return of the fund's Investor shares
0.0000
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets
may be invested in a limited number of issuers. Therefore, the fund's performance may be more
vulnerable to changes in the market value of a single issuer or a group of issuers and more
susceptible to risks associated with a single economic, political or regulatory occurrence
than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000021482Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Institutional shares call toll-free 1-800-346-3621.      <br />Individuals or entities for whom institutions may purchase or redeem shares should <br />call the institution directly. </tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q2, 2007: 0.87%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Institutional shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal, New York state and New York<br />city income taxes. The fund does not invest in municipal obligations that pay<br />interest subject to the federal alternative minimum tax. The fund also may<br />invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal, New York state<br />and New York city personal income taxes, the fund may invest temporarily in high<br />quality, taxable money market instruments and/or municipal obligations that pay<br />income exempt only from federal income tax, including when the portfolio manager<br />believes that acceptable New York municipal obligations are unavailable for<br />investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Institutional <br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible
to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /><br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that New York's economy,<br />and the revenues underlying its municipal obligations, may decline. Investing<br />primarily in a single state makes the fund more sensitive to risks specific to<br />the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Institutional shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000021482Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000021482Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000021482Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal, New York<br />state and New York city personal income taxes as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:<br /> </tt>
DYIXX
0.0145
2002-03-28
0.0000
2011-09-30
0.0000
0.0094
0.0014
393
174
0.0342
0.0087
0.0003
0.0011
0.0208
0.0020
0.0052
0.0123
0.0216
32
2007-06-30
100
0.0074
0.0031
0.0324
The year-to-date total return of the fund's Institutional shares
0.0003
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets
may be invested in a limited number of issuers. Therefore, the fund's performance may be more
vulnerable to changes in the market value of a single issuer or a group of issuers and more
susceptible to risks associated with a single economic, political or regulatory occurrence
than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000021482Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Administrative shares call toll-free 1-800-346-3621.     <br />Individuals or entities for whom institutions may purchase or redeem shares        <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q2, 2009: 0.19%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Administrative shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal, New York state and New York<br />city income taxes. The fund does not invest in municipal obligations that pay<br />interest subject to the federal alternative minimum tax. The fund also may<br />invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal, New York state<br />and New York city personal income taxes, the fund may invest temporarily in high<br />quality, taxable money market instruments and/or municipal obligations that pay<br />income exempt only from federal income tax, including when the portfolio manager<br />believes that acceptable New York municipal obligations are unavailable for<br />investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Administrative <br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible
to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce the <br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that New York's economy,<br />and the revenues underlying its municipal obligations, may decline. Investing<br />primarily in a single state makes the fund more sensitive to risks specific to<br />the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Administrative shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000021482Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000021482Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000021482Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal, New York<br />state and New York city personal income taxes as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DDVXX
0.0033
2008-09-13
0.0000
2011-09-30
0.0000
0.0005
530
235
0.0019
0.0000
0.0012
0.0020
0.0042
43
2009-06-30
135
0.0010
0.0042
The year-to-date total return of the fund's Administrative shares
0.0000
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets
may be invested in a limited number of issuers. Therefore, the fund's performance may be more
vulnerable to changes in the market value of a single issuer or a group of issuers and more
susceptible to risks associated with a single economic, political or regulatory occurrence
than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000018306Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Participant shares call toll-free 1-800-346-3621.        <br />Individuals or entities for whom institutions may purchase or redeem shares should <br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q1, 2008: 0.54%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Participant shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal and California state income<br />taxes. The fund does not invest in municipal obligations that pay interest<br />subject to the federal alternative minimum tax. The fund also may invest in high<br />quality, short-term structured notes, which are derivative instruments whose<br />value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal and California<br />state personal income taxes, the fund may invest temporarily in high quality,<br />taxable money market instruments and/or municipal obligations that pay income<br />exempt only from federal income tax, including when the portfolio manager<br />believes that acceptable California state municipal obligations are unavailable<br />for investment.<br /> </tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the<br />fund's Participant shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible
to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce <br />the fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that California's<br />economy, and the revenues underlying its municipal obligations, may decline.<br />Investing primarily in a single state makes the fund more sensitive to risks<br />specific to the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Participant shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000018306Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000018306Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000018306Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal and California <br />state personal income taxes as is consistent with the preservation of capital and <br />the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DFPXX
0.0069
2007-08-01
0.0000
2011-09-30
0.0000
0.0000
798
357
0.0054
0.0000
0.0004
0.0165
0.0020
0.0017
65
2008-03-31
205
0.0040
0.0064
The year-to-date total return of the fund's Participant shares
0.0000
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets
may be invested in a limited number of issuers. Therefore, the fund's performance may be more
vulnerable to changes in the market value of a single issuer or a group of issuers and more
susceptible to risks associated with a single economic, political or regulatory occurrence
than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000018306Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Investor shares call toll-free 1-800-346-3621. Individuals<br />or entities for whom institutions may purchase or redeem shares should call the     <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q1, 2008: 0.58%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Investor shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal and California state income<br />taxes. The fund does not invest in municipal obligations that pay interest<br />subject to the federal alternative minimum tax. The fund also may invest in high<br />quality, short-term structured notes, which are derivative instruments whose<br />value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal and California<br />state personal income taxes, the fund may invest temporarily in high quality,<br />taxable money market instruments and/or municipal obligations that pay income<br />exempt only from federal income tax, including when the portfolio manager<br />believes that acceptable California state municipal obligations are unavailable<br />for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Investor shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital  infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce the <br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that California's<br />economy, and the revenues underlying its municipal obligations, may decline.<br />Investing primarily in a single state makes the fund more sensitive to risks<br />specific to the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Investor shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000018306Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000018306Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000018306Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal and California <br />state personal income taxes as is consistent with the preservation of capital and <br />the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DAIXX
0.0076
2007-08-01
0.0000
2011-09-30
0.0000
0.0000
628
280
0.0058
0.0000
0.0005
0.0180
0.0020
0.0026
51
2008-03-31
160
0.0025
0.0050
The year-to-date total return of the fund's Investor shares
0.0000
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets may
be invested in a limited number of issuers. Therefore, the fund's performance may be more vulnerable
to changes in the market value of a single issuer or a group of issuers and more susceptible to risks
associated with a single economic, political or regulatory occurrence than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000018306Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Institutional shares call toll-free 1-800-346-3621.     <br />Individuals or entities for whom institutions may purchase or redeem shares should<br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q1, 2008: 0.64%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Institutional shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal and California state income<br />taxes. The fund does not invest in municipal obligations that pay interest<br />subject to the federal alternative minimum tax. The fund also may invest in high<br />quality, short-term structured notes, which are derivative instruments whose<br />value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal and California<br />state personal income taxes, the fund may invest temporarily in high quality,<br />taxable money market instruments and/or municipal obligations that pay income<br />exempt only from federal income tax, including when the portfolio manager<br />believes that acceptable California state municipal obligations are unavailable<br />for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Institutional <br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /><br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that California's<br />economy, and the revenues underlying its municipal obligations, may decline.<br />Investing primarily in a single state makes the fund more sensitive to risks<br />specific to the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Institutional shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000018306Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000018306Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000018306Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal and California <br />state personal income taxes as is consistent with the preservation of capital and <br />the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DIIXX
0.0093
2007-08-01
0.0000
2011-09-30
0.0000
0.0013
306
135
0.0064
0.0006
0.0004
0.0206
0.0020
0.0046
25
2008-03-31
77
0.0024
The year-to-date total return of the fund's Institutional shares
0.0006
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets
may be invested in a limited number of issuers. Therefore, the fund's performance may be more
vulnerable to changes in the market value of a single issuer or a group of issuers and more
susceptible to risks associated with a single economic, political or regulatory occurrence
than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000018306Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Agency shares call toll-free 1-800-346-3621. Individuals <br />or entities for whom institutions may purchase or redeem shares should call the    <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q1, 2008: 0.63%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Agency shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal and California state income<br />taxes. The fund does not invest in municipal obligations that pay interest<br />subject to the federal alternative minimum tax. The fund also may invest in high<br />quality, short-term structured notes, which are derivative instruments whose<br />value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal and California<br />state personal income taxes, the fund may invest temporarily in high quality,<br />taxable money market instruments and/or municipal obligations that pay income<br />exempt only from federal income tax, including when the portfolio manager<br />believes that acceptable California state municipal obligations are unavailable<br />for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Agency shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce the <br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that California's<br />economy, and the revenues underlying its municipal obligations, may decline.<br />Investing primarily in a single state makes the fund more sensitive to risks<br />specific to the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Agency shares over time. The fund's past performance (before <br />and after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000018306Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000018306Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000018306Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal and<br />California state personal income taxes as is consistent with the preservation of<br />capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DRMXX
0.0077
2007-10-01
0.0000
2011-09-30
0.0000
0.0007
381
169
0.0063
0.0003
0.0004
0.0199
0.0020
0.0040
31
2008-03-31
97
0.0006
0.0030
The year-to-date total return of the fund's Agency shares
0.0003
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets
may be invested in a limited number of issuers. Therefore, the fund's performance may be more
vulnerable to changes in the market value of a single issuer or a group of issuers and more
susceptible to risks associated with a single economic, political or regulatory occurrence
than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000018306Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Administrative shares call toll-free 1-800-346-3621.     <br />Individuals or entities for whom institutions may purchase or redeem shares        <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q1, 2008: 0.62%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Administrative shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal and California state income<br />taxes. The fund does not invest in municipal obligations that pay interest<br />subject to the federal alternative minimum tax. The fund also may invest in high<br />quality, short-term structured notes, which are derivative instruments whose<br />value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal and California<br />state personal income taxes, the fund may invest temporarily in high quality,<br />taxable money market instruments and/or municipal obligations that pay income<br />exempt only from federal income tax, including when the portfolio manager<br />believes that acceptable California state municipal obligations are unavailable<br />for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Administrative <br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce the <br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that California's<br />economy, and the revenues underlying its municipal obligations, may decline.<br />Investing primarily in a single state makes the fund more sensitive to risks<br />specific to the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Administrative shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000018306Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000018306Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000018306Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal and <br />California state personal income taxes as is consistent with the <br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DFAXX
0.0084
2007-08-01
0.0000
2011-09-30
0.0000
0.0003
443
197
0.0062
0.0001
0.0005
0.0195
0.0020
0.0036
36
2008-03-31
113
0.0010
0.0035
The year-to-date total return of the fund's Administrative shares
0.0001
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets may
be invested in a limited number of issuers. Therefore, the fund's performance may be more vulnerable
to changes in the market value of a single issuer or a group of issuers and more susceptible to risks
associated with a single economic, political or regulatory occurrence than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000331Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Participant shares call toll-free 1-800-346-3621.        <br />Individuals or entities for whom institutions may purchase or redeem shares should <br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q2, 2007: 0.79%          <br />Worst Quarter            <br />Q4, 2011: 0.00%           <br /> <br />The year-to-date total return of the fund's Participant shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal, New York state and New York<br />city income taxes. The fund also may invest in high quality, short-term<br />structured notes, which are derivative instruments whose value is tied to<br />underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal, New York state<br />and New York city personal income taxes, income from some of the fund's holdings<br />may be subject to the federal alternative minimum tax. In addition, the fund may<br />invest temporarily in high quality, taxable money market instruments and/or<br />municipal obligations that pay income exempt only from federal income tax,<br />including when the portfolio manager believes that acceptable New York municipal<br />obligations are unavailable for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Participant shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to
lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that New York's economy,<br />and the revenues underlying its municipal obligations, may decline. Investing<br />primarily in a single state makes the fund more sensitive to risks specific to<br />the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Participant shares over time. The fund's past performance (before <br />and after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000331Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000331Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000331Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal, New York<br />state and New York city personal income taxes as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DPYXX
0.0000
2011-12-31
0.0089
0.0000
0.0063
0.00
798
357
0.0311
0.0079
0.0000
0.0004
0.0177
0.0020
0.0018
0.0100
0.0185
65
2007-06-30
205
0.0049
0.0040
0.0118
0.0064
0.0290
The year-to-date total return of the fund's Participant shares
0.00
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets may be
invested in a limited number of issuers. Therefore, the fund's performance may be more vulnerable to
changes in the market value of a single issuer or a group of issuers and more susceptible to risks
associated with a single economic, political or regulatory occurrence than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000331Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Investor shares call toll-free 1-800-346-3621. Individuals<br />or entities for whom institutions may purchase or redeem shares should call the     <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q2, 2007: 0.83%          <br />Worst Quarter            <br />Q4, 2011: 0.00%           <br /> <br />The year-to-date total return of the fund's Investor shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal, New York state and New York<br />city income taxes. The fund also may invest in high quality, short-term<br />structured notes, which are derivative instruments whose value is tied to<br />underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal, New York state<br />and New York city personal income taxes, income from some of the fund's holdings<br />may be subject to the federal alternative minimum tax. In addition, the fund may<br />invest temporarily in high quality, taxable money market instruments and/or<br />municipal obligations that pay income exempt only from federal income tax,<br />including when the portfolio manager believes that acceptable New York municipal<br />obligations are unavailable for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Investor shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that New York's economy,<br />and the revenues underlying its municipal obligations, may decline. Investing<br />primarily in a single state makes the fund more sensitive to risks specific to<br />the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of<br />the fund's Investor shares over time. The fund's past performance (before <br />and after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000331Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000331Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000331Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal, New York<br />state and New York city personal income taxes as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DVYXX
0.000
2011-12-31
0.0104
0.0000
0.0078
0.00
616
274
0.0326
0.0083
0.0000
0.0004
0.0193
0.0020
0.0028
0.0109
0.02
50
2007-06-30
157
0.0064
0.0025
0.0129
0.0049
0.0305
The year-to-date total return of the fund's Investor shares
0.00
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets may
be invested in a limited number of issuers. Therefore, the fund's performance may be more vulnerable
to changes in the market value of a single issuer or a group of issuers and more susceptible to risks
associated with a single economic, political or regulatory occurrence than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000331Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Institutional shares call toll-free 1-800-346-3621.     <br />Individuals or entities for whom institutions may purchase or redeem shares should<br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q3, 2007: 0.89%          <br />Worst Quarter            <br />Q4, 2011: 0.00%           <br /> <br />The year-to-date total return of the fund's Institutional shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal, New York state and New York<br />city income taxes. The fund also may invest in high quality, short-term<br />structured notes, which are derivative instruments whose value is tied to<br />underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal, New York state<br />and New York city personal income taxes, income from some of the fund's holdings<br />may be subject to the federal alternative minimum tax. In addition, the fund may<br />invest temporarily in high quality, taxable money market instruments and/or<br />municipal obligations that pay income exempt only from federal income tax,<br />including when the portfolio manager believes that acceptable New York municipal<br />obligations are unavailable for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Institutional shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible
to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that New York's economy,<br />and the revenues underlying its municipal obligations, may decline. Investing<br />primarily in a single state makes the fund more sensitive to risks specific to<br />the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Institutional shares over time. The fund's past performance (before <br />and after taxes) is no guarantee of future results. More recent performance<br /> information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000331Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000331Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000331Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal, New York<br />state and New York city personal income taxes as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DIYXX
0.0000
2011-12-31
0.0129
0.0000
0.0104
0.0012
306
135
0.0352
0.0089
0.0004
0.0004
0.0218
0.0020
0.0051
0.0126
0.0225
25
2007-09-30
77
0.0089
0.0151
0.0024
0.0331
The year-to-date total return of the fund's Institutional shares
0.0004
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets may be
invested in a limited number of issuers. Therefore, the fund's performance may be more vulnerable to
changes in the market value of a single issuer or a group of issuers and more susceptible to risks
associated with a single economic, political or regulatory occurrence than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000331Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Agency shares call toll-free 1-800-346-3621. Individuals <br />or entities for whom institutions may purchase or redeem shares should call the    <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q1, 2008: 0.64%          <br />Worst Quarter            <br />Q4, 2011: 0.00%           <br /> <br />The year-to-date total return of the fund's Agency shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal, New York state and New York<br />city income taxes. The fund also may invest in high quality, short-term<br />structured notes, which are derivative instruments whose value is tied to<br />underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal, New York state<br />and New York city personal income taxes, income from some of the fund's holdings<br />may be subject to the federal alternative minimum tax. In addition, the fund may<br />invest temporarily in high quality, taxable money market instruments and/or<br />municipal obligations that pay income exempt only from federal income tax,<br />including when the portfolio manager believes that acceptable New York municipal<br />obligations are unavailable for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Agency shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible
to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce the <br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that New York's economy,<br />and the revenues underlying its municipal obligations, may decline. Investing<br />primarily in a single state makes the fund more sensitive to risks specific to<br />the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Agency shares over time. The fund's past performance (before and <br />after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000331Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000331Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000331Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal, New York<br />state and New York city personal income taxes as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DNCXX
0.0081
2007-10-01
0.0000
2011-12-31
0.0000
0.0006
381
169
0.0064
0.0002
0.0004
0.0212
0.0020
0.0045
31
2008-03-31
97
0.0006
0.0030
The year-to-date total return of the fund's Agency shares
0.0002
Worst Quarter
Best Quarter
2012-03-31
The fund is non-diversified, which means that a relatively high percentage of the fund's assets may
be invested in a limited number of issuers. Therefore, the fund's performance may be more vulnerable
to changes in the market value of a single issuer or a group of issuers and more susceptible to risks
associated with a single economic, political or regulatory occurrence than a diversified fund.
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000331Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Administrative shares call toll-free 1-800-346-3621.    <br />Individuals or entities for whom institutions may purchase or redeem shares should<br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q2, 2007: 0.87%          <br />Worst Quarter            <br />Q4, 2011: 0.00%          <br />  <br />The year-to-date total return of the fund's Administrative shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its net assets in short-term, high quality municipal<br />obligations that provide income exempt from federal, New York state and New York<br />city income taxes. The fund also may invest in high quality, short-term<br />structured notes, which are derivative instruments whose value is tied to<br />underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal, New York state<br />and New York city personal income taxes, income from some of the fund's holdings<br />may be subject to the federal alternative minimum tax. In addition, the fund may<br />invest temporarily in high quality, taxable money market instruments and/or<br />municipal obligations that pay income exempt only from federal income tax,<br />including when the portfolio manager believes that acceptable New York municipal<br />obligations are unavailable for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Administrative<br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible
to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce the <br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.<br /> <br />o State-specific risk. The fund is subject to the risk that New York's economy,<br />and the revenues underlying its municipal obligations, may decline. Investing<br />primarily in a single state makes the fund more sensitive to risks specific to<br />the state and may magnify other risks.<br /> <br />o Non-diversification risk. The fund is non-diversified, which means that a<br />relatively high percentage of the fund's assets may be invested in a limited<br />number of issuers. Therefore, the fund's performance may be more vulnerable to<br />changes in the market value of a single issuer or a group of issuers and more<br />susceptible to risks associated with a single economic, political or regulatory<br />occurrence than a diversified fund.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Administrative shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent<br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000331Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000331Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000331Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal, New York<br />state and New York city personal income taxes as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DAYXX
0.0000
2011-12-31
0.0118
0.0000
0.0093
0.0003
431
191
0.0341
0.0087
0.0000
0.0004
0.0208
0.0020
0.0041
0.0118
0.0215
35
2007-06-30
109
0.0079
0.0010
0.0141
0.0034
0.0321
The year-to-date total return of the fund's Administrative shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000326Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Participant shares call toll-free 1-800-346-3621.        <br />Individuals or entities for whom institutions may purchase or redeem shares should <br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q2, 2007: 0.80%          <br />Worst Quarter            <br />Q4, 2011: 0.00%           <br /> <br />The year-to-date total return of the fund's Participant shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its assets in short-term, high quality municipal<br />obligations that provide income exempt from federal income taxes. The fund also<br />may invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal income tax, income<br />from some of the fund's holdings may be subject to the federal alternative<br />minimum tax. In addition, the fund may invest temporarily in high quality,<br />taxable money market instruments, including when the portfolio manager believes<br />that acceptable municipal obligations are unavailable for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible
to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Participant shares over time. The fund's past performance (before <br />and after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000326Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000326Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000326Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal income tax<br />as is consistent with the preservation of capital and the maintenance of<br />liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DMPXX
0.0000
2011-12-31
0.0096
0.0000
0.0066
0.00
798
357
0.0313
0.0080
0.0000
0.0004
0.0193
0.0020
0.0023
0.0105
0.0188
65
2007-06-30
205
0.0054
0.0040
0.0122
0.0064
0.0291
The year-to-date total return of the fund's Participant shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000326Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Investor shares call toll-free 1-800-346-3621. Individuals<br />or entities for whom institutions may purchase or redeem shares should call the     <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q2, 2007: 0.84%          <br />Worst Quarter            <br />Q4, 2011: 0.00%           <br /> <br />The year-to-date total return of the fund's Investor shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its assets in short-term, high quality municipal<br />obligations that provide income exempt from federal income taxes. The fund also<br />may invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal income tax, income<br />from some of the fund's holdings may be subject to the federal alternative<br />minimum tax. In addition, the fund may invest temporarily in high quality,<br />taxable money market instruments, including when the portfolio manager believes<br />that acceptable municipal obligations are unavailable for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Investor shares<br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Investor shares over time. The fund's past performance (before <br />and after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000326Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000326Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000326Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal income tax<br />as is consistent with the preservation of capital and the maintenance of<br />liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DVMXX
0.0000
2011-12-31
0.0112
0.0000
0.0081
0.00
616
274
0.0328
0.0084
0.0000
0.0004
0.0208
0.0020
0.0034
0.0113
0.0203
50
2007-06-30
157
0.0069
0.0025
0.0133
0.0049
0.0306
The year-to-date total return of the fund's Investor shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000326Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Institutional shares call toll-free 1-800-346-3621.     <br />Individuals or entities for whom institutions may purchase or redeem shares should<br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q2, 2007: 0.90%          <br />Worst Quarter            <br />Q4, 2011: 0.00%           <br /> <br />The year-to-date total return of the fund's Institutional shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its assets in short-term, high quality municipal<br />obligations that provide income exempt from federal income taxes. The fund also<br />may invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal income tax, income<br />from some of the fund's holdings may be subject to the federal alternative<br />minimum tax. In addition, the fund may invest temporarily in high quality,<br />taxable money market instruments, including when the portfolio manager believes<br />that acceptable municipal obligations are unavailable for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Institutional <br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible
to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Institutional shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000326Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000326Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000326Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal income tax<br />as is consistent with the preservation of capital and the maintenance of<br />liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DIMXX
0.0000
2011-12-31
0.0137
0.0000
0.0106
0.0012
306
135
0.0354
0.0090
0.0004
0.0004
0.0234
0.0020
0.0057
0.0131
0.0228
25
2007-06-30
77
0.0094
0.0155
0.0024
0.0332
The year-to-date total return of the fund's Institutional shares
0.0004
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000326Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Agency shares call toll-free 1-800-346-3621. Individuals <br />or entities for whom institutions may purchase or redeem shares should call the    <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q1, 2008: 0.69%          <br />Worst Quarter            <br />Q4, 2011: 0.00%           <br /> <br />The year-to-date total return of the fund's Agency shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its assets in short-term, high quality municipal<br />obligations that provide income exempt from federal income taxes. The fund also<br />may invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal income tax, income<br />from some of the fund's holdings may be subject to the federal alternative<br />minimum tax. In addition, the fund may invest temporarily in high quality,<br />taxable money market instruments, including when the portfolio manager believes<br />that acceptable municipal obligations are unavailable for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Agency shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Agency shares over time. The fund's past performance (before <br />and after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000326Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000326Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000326Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal income tax<br />as is consistent with the preservation of capital and the maintenance of<br />liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DRAXX
0.0086
2007-10-01
0.0000
2011-12-31
0.0000
0.0006
381
169
0.0069
0.0002
0.0004
0.0228
0.0020
0.0050
31
2008-03-31
97
0.0006
0.0030
The year-to-date total return of the fund's Agency shares
0.0002
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000326Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Administrative shares call toll-free 1-800-346-3621.    <br />Individuals or entities for whom institutions may purchase or redeem shares should<br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q2, 2007: 0.87%          <br />Worst Quarter            <br />Q4, 2011: 0.00%           <br /> <br />The year-to-date total return of the fund's Administrative shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its assets in short-term, high quality municipal<br />obligations that provide income exempt from federal income taxes. The fund also<br />may invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations.<br /> <br />Although the fund seeks to provide income exempt from federal income tax, income<br />from some of the fund's holdings may be subject to the federal alternative<br />minimum tax. In addition, the fund may invest temporarily in high quality,<br />taxable money market instruments, including when the portfolio manager believes<br />that acceptable municipal obligations are unavailable for investment.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Administrative shares<br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible
to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Administrative shares over time. The fund's past performance<br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000326Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000326Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000326Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal income tax<br />as is consistent with the preservation of capital and the maintenance of<br />liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DAMXX
0.0000
2011-12-31
0.0127
0.0000
0.0096
0.0004
431
191
0.0344
0.0087
0.0001
0.0004
0.0224
0.0020
0.0046
0.0123
0.0218
35
2007-06-30
109
0.0084
0.0010
0.0146
0.0034
0.0322
The year-to-date total return of the fund's Administrative shares
0.0001
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000129Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Participant shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem shares <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter <br />Q3, 2006: 1.18% <br />Worst Quarter <br />Q4, 2011: 0.00% <br /><br /><br />The year-to-date total return of the fund's Participant shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund invests in securities<br />issued or guaranteed as to principal and interest by the U.S. government or its<br />agencies or instrumentalities. The securities in which the fund invests include<br />those backed by the full faith and credit of the U.S. government and those that<br />are neither insured nor guaranteed by the U.S. government. While the fund is<br />permitted to invest in the full range of securities issued or guaranteed by the<br />U.S. government or its agencies or instrumentalities, the fund currently is<br />managed so that income paid by the fund will be exempt from state and local<br />taxes. Because rules regarding the state and local taxation of dividend income<br />can differ from state to state, investors are urged to consult their tax<br />advisers about the taxation of the fund's dividend income in their state and<br />locality.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Participant shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Participant shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000129Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000129Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000129Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DGPXX
0.0000
2011-12-31
0.0126
0.0000
0.0071
0.00
762
340
0.0458
0.0118
0.0000
0.0001
0.0181
0.0020
0.0001
0.0126
0.0259
62
2006-09-30
195
0.0057
0.0040
0.0158
0.0061
0.0445
The year-to-date total return of the fund's Participant shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000129Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Investor shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem shares <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter<br />Q3, 2006: 1.22%<br />Worst Quarter<br />Q4, 2011: 0.00%<br /><br /><br />The year-to-date total return of the fund's Investor shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund invests in securities<br />issued or guaranteed as to principal and interest by the U.S. government or its<br />agencies or instrumentalities. The securities in which the fund invests include<br />those backed by the full faith and credit of the U.S. government and those that<br />are neither insured nor guaranteed by the U.S. government. While the fund is<br />permitted to invest in the full range of securities issued or guaranteed by the<br />U.S. government or its agencies or instrumentalities, the fund currently is<br />managed so that income paid by the fund will be exempt from state and local<br />taxes. Because rules regarding the state and local taxation of dividend income<br />can differ from state to state, investors are urged to consult their tax<br />advisers about the taxation of the fund's dividend income in their state and<br />locality.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Investor shares from <br />year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Investor shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000129Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000129Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000129Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DVPXX
0.0000
2011-12-31
0.0141
0.0000
0.0086
0.00
591
263
0.0474
0.0122
0.0000
0.0002
0.0196
0.0020
0.0002
0.0133
0.0274
48
2006-09-30
151
0.0072
0.0025
0.0169
0.0047
0.0460
The year-to-date total return of the fund's Investor shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000129Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Institutional shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem shares <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter<br />Q3, 2006: 1.28%<br />Worst Quarter<br />Q4, 2011: 0.00% <br /><br /><br />The year-to-date total return of the fund's Institutional shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund invests in securities<br />issued or guaranteed as to principal and interest by the U.S. government or its<br />agencies or instrumentalities. The securities in which the fund invests include<br />those backed by the full faith and credit of the U.S. government and those that<br />are neither insured nor guaranteed by the U.S. government. While the fund is<br />permitted to invest in the full range of securities issued or guaranteed by the<br />U.S. government or its agencies or instrumentalities, the fund currently is<br />managed so that income paid by the fund will be exempt from state and local<br />taxes. Because rules regarding the state and local taxation of dividend income<br />can differ from state to state, investors are urged to consult their tax<br />advisers about the taxation of the fund's dividend income in their state and<br />locality.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Institutional shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Institutional shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000129Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000129Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000129Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DIPXX
0.0000
2011-12-31
0.0166
0.0000
0.0111
0.0001
280
124
0.0500
0.0128
0.0000
0.0002
0.0222
0.0020
0.0015
0.0146
0.0300
23
2006-09-30
71
0.0097
0.0188
0.0022
0.0486
The year-to-date total return of the fund's Institutional shares
0.0000
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000129Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Agency shares call toll-free 1-800-346-3621. Individuals <br />or entities for whom institutions may purchase or redeem shares should call the    <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter<br />Q1, 2008: 0.82%<br />Worst Quarter<br />Q4, 2011: 0.00% <br /><br /><br />The year-to-date total return of the fund's Agency shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund invests in securities<br />issued or guaranteed as to principal and interest by the U.S. government or its<br />agencies or instrumentalities. The securities in which the fund invests include<br />those backed by the full faith and credit of the U.S. government and those that<br />are neither insured nor guaranteed by the U.S. government. While the fund is<br />permitted to invest in the full range of securities issued or guaranteed by the<br />U.S. government or its agencies or instrumentalities, the fund currently is<br />managed so that income paid by the fund will be exempt from state and local<br />taxes. Because rules regarding the state and local taxation of dividend income<br />can differ from state to state, investors are urged to consult their tax<br />advisers about the taxation of the fund's dividend income in their state and<br />locality.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Agency shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a <br />capital support agreement or take other actions to prevent the fund's share <br />price from falling below $1.00. The following are the principal risks that <br />could reduce the fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Agency shares over time. The fund's past performance (before <br />and after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000129Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000129Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000129Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DRPXX
0.0079
2007-10-01
0.0000
2011-12-31
0.0000
0.0000
343
152
0.0082
0.0000
0.0001
0.0216
0.0020
0.0009
28
2008-03-31
87
0.0006
0.0027
The year-to-date total return of the fund's Agency shares
0.0000
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000129Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Administrative shares call toll-free 1-800-346-3621.    <br />Individuals or entities for whom institutions may purchase or redeem shares <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter<br />Q3, 2006: 1.26%<br />Worst Quarter<br />Q4, 2011: 0.00%<br /><br /><br />The year-to-date total return of the fund's Administrative shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund invests in securities<br />issued or guaranteed as to principal and interest by the U.S. government or its<br />agencies or instrumentalities. The securities in which the fund invests include<br />those backed by the full faith and credit of the U.S. government and those that<br />are neither insured nor guaranteed by the U.S. government. While the fund is<br />permitted to invest in the full range of securities issued or guaranteed by the<br />U.S. government or its agencies or instrumentalities, the fund currently is<br />managed so that income paid by the fund will be exempt from state and local<br />taxes. Because rules regarding the state and local taxation of dividend income<br />can differ from state to state, investors are urged to consult their tax<br />advisers about the taxation of the fund's dividend income in their state and<br />locality.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Administrative <br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce <br />the fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Administrative shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000129Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000129Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000129Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DAPXX
0.0000
2011-12-31
0.0156
0.0000
0.0101
0.00
406
180
0.0489
0.0126
0.0000
0.0002
0.0212
0.0020
0.0007
0.0140
0.0290
33
2006-09-30
103
0.0087
0.0010
0.0180
0.0032
0.0476
The year-to-date total return of the fund's Administrative shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000128Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Participant shares call toll-free 1-800-346-3621.        <br />Individuals or entities for whom institutions may purchase or redeem shares <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter<br />Q4, 2006: 1.19%<br />Worst Quarter<br />Q4, 2011: 0.00% <br /><br /><br />The year-to-date total return of the fund's Participant shares as of 3/31/12 <br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund invests in securities<br />issued or guaranteed as to principal and interest by the U.S. government or its<br />agencies or instrumentalities, and repurchase agreements (including tri-party<br />repurchase agreements). The securities in which the fund invests include those<br />backed by the full faith and credit of the U.S. government and those that are<br />neither insured nor guaranteed by the U.S. government.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Participant shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce <br />the fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br />  <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of its agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Participant shares over time. The fund's past performance (before <br />and after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000128Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000128Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000128Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DPGXX
0.0000
2011-12-31
0.0142
0.0000
0.0076
0.00
762
340
0.0461
0.0119
0.0000
0.0001
0.0188
0.0020
0.0004
0.0129
0.0263
62
2006-12-31
195
0.0065
0.0040
0.0164
0.0061
0.0448
The year-to-date total return of the fund's Participant shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000128Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Investor shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem shares <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter <br />Q4, 2006: 1.23% <br />Worst Quarter<br />Q4, 2011: 0.00%<br /><br /><br />The year-to-date total return of the fund's Investor shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund invests in securities<br />issued or guaranteed as to principal and interest by the U.S. government or its<br />agencies or instrumentalities, and repurchase agreements (including tri-party<br />repurchase agreements). The securities in which the fund invests include those<br />backed by the full faith and credit of the U.S. government and those that are<br />neither insured nor guaranteed by the U.S. government.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Investor shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br />  <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of its agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Investor shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000128Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000128Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000128Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DGVXX
0.0000
2011-12-31
0.0157
0.0000
0.0092
0.00
579
258
0.0477
0.0123
0.0000
0.0001
0.0204
0.0020
0.0007
0.0136
0.0278
47
2006-12-31
148
0.0080
0.0025
0.0175
0.0046
0.0463
The year-to-date total return of the fund's Investor shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000128Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Institutional shares call toll-free 1-800-346-3621.     <br />Individuals or entities for whom institutions may purchase or redeem shares <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter <br />Q4, 2006: 1.29% <br />Worst Quarter <br />Q4, 2011: 0.00%<br /><br /><br />The year-to-date total return of the fund's Institutional shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund invests in securities<br />issued or guaranteed as to principal and interest by the U.S. government or its<br />agencies or instrumentalities, and repurchase agreements (including tri-party<br />repurchase agreements). The securities in which the fund invests include those<br />backed by the full faith and credit of the U.S. government and those that are<br />neither insured nor guaranteed by the U.S. government.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Institutional <br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce <br />the fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default <br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of its agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Institutional shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000128Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000128Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000128Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DGCXX
0.0000
2011-12-31
0.0182
0.0000
0.0117
0.0004
268
118
0.0503
0.0129
0.0000
0.0001
0.0229
0.0020
0.0023
0.0150
0.0304
22
2006-12-31
68
0.0106
0.0194
0.0021
0.0490
The year-to-date total return of the fund's Institutional shares
0.0000
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000128Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Agency shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem shares <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter <br />Q1, 2008: 0.86% <br />Worst Quarter <br />Q4, 2011: 0.00% <br /><br /><br />The year-to-date total return of the fund's Agency shares as of 3/31/12 was <br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund invests in securities<br />issued or guaranteed as to principal and interest by the U.S. government or its<br />agencies or instrumentalities, and repurchase agreements (including tri-party<br />repurchase agreements). The securities in which the fund invests include those<br />backed by the full faith and credit of the U.S. government and those that are<br />neither insured nor guaranteed by the U.S. government.<br /> </tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Agency shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce <br />the fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br />  <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of its agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Agency shares over time. The fund's past performance<br />(before and after taxes) is no guarantee of future results. More recent<br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000128Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000128Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000128Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DGMXX
0.0083
2007-10-01
0.0000
2011-12-31
0.0000
0.0000
343
152
0.0086
0.0000
0.0001
0.0224
0.0020
0.0018
28
2008-03-31
87
0.0006
0.0027
The year-to-date total return of the fund's Agency shares
0.00000
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000128Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Administrative shares call toll-free 1-800-346-3621.    <br />Individuals or entities for whom institutions may purchase or redeem shares should<br />call the institution directly.  </tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q4, 2006: 1.27%          <br />Worst Quarter            <br />Q4, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Administrative shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund invests in securities<br />issued or guaranteed as to principal and interest by the U.S. government or its<br />agencies or instrumentalities, and repurchase agreements (including tri-party<br />repurchase agreements). The securities in which the fund invests include those<br />backed by the full faith and credit of the U.S. government and those that are<br />neither insured nor guaranteed by the U.S. government.<br /> </tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Administrative <br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /><br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of its agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Administrative shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000128Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000128Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000128Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DAGXX
0.0000
2011-12-31
0.0172
0.0000
0.0107
0.0000
393
174
0.0493
0.0127
0.0000
0.0001
0.0219
0.0020
0.0015
0.0144
0.0294
32
2006-12-31
100
0.0096
0.0010
0.0186
0.0031
0.0479
The year-to-date total return of the fund's Administrative shares
0.0000
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000113Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Participant shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem shares <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter<br />Q4, 2006: 1.13%<br />Worst Quarter <br />Q4, 2011: 0.00%<br /><br /><br />The year-to-date total return of the fund's Participant shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund only invests in<br />securities issued or guaranteed as to principal and interest by the U.S.<br />government. The fund is managed so that income paid by the fund will be exempt<br />from state and local taxes. Because rules regarding the state and local taxation<br />of dividend income can differ from state to state, investors are urged to<br />consult their tax advisers about the taxation of the fund's dividend income in<br />their state and locality.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Participant shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br />  <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Participant shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000113Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000113Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000113Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DPRXX
0.0000
2011-12-31
0.0123
0.0000
0.0067
0.00
762
340
0.0403
0.0113
0.0000
0.0001
0.0110
0.0020
0.00
0.0102
0.0238
62
2006-12-31
195
0.0055
0.0040
0.0140
0.0061
0.0418
The year-to-date total return of the fund's Participant shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000113Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Investor shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem <br />shares should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter <br />Q4, 2006: 1.16% <br />Worst Quarter <br />Q4, 2011: 0.00%<br /><br /><br />The year-to-date total return of the fund's Investor shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund only invests in<br />securities issued or guaranteed as to principal and interest by the U.S.<br />government. The fund is managed so that income paid by the fund will be exempt<br />from state and local taxes. Because rules regarding the state and local taxation<br />of dividend income can differ from state to state, investors are urged to<br />consult their tax advisers about the taxation of the fund's dividend income in<br />their state and locality.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Investor shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br />  <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of <br />investing in the fund. The table shows the average annual total returns <br />of the fund's Investor shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000113Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000113Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000113Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DVRXX
0.0000
2011-12-31
0.0138
0.0000
0.0083
0.00
579
258
0.0418
0.0116
0.0000
0.0001
0.0124
0.0020
0.00
0.0107
0.0253
47
2006-12-31
148
0.0070
0.0025
0.0151
0.0046
0.0434
The year-to-date total return of the fund's Investor shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000113Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Institutional shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem shares should<br />call the institution directly.</tt>
<tt>Best Quarter<br />Q4, 2006: 1.23%<br />Worst Quarter <br />Q4, 2011: 0.00%<br /><br /><br />The year-to-date total return of the fund's Institutional shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund only invests in<br />securities issued or guaranteed as to principal and interest by the U.S.<br />government. The fund is managed so that income paid by the fund will be exempt<br />from state and local taxes. Because rules regarding the state and local taxation<br />of dividend income can differ from state to state, investors are urged to<br />consult their tax advisers about the taxation of the fund's dividend income in<br />their state and locality.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Institutional shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br />  <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Institutional shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000113Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000113Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000113Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DIRXX
0.0000
2011-12-31
0.0164
0.0000
0.0108
0.00
280
124
0.0444
0.0123
0.0000
0.0002
0.0149
0.0020
0.0003
0.0118
0.0279
23
2006-12-31
71
0.0096
0.0169
0.0022
0.0459
The year-to-date total return of the fund's Institutional shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000113Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Agency shares call toll-free 1-800-346-3621. Individuals <br />or entities for whom institutions may purchase or redeem shares should call the <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter<br />Q1, 2008: 0.61%<br />Worst Quarter<br />Q4, 2011: 0.00%<br /><br /><br />The year-to-date total return of the fund's Agency shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund only invests in<br />securities issued or guaranteed as to principal and interest by the U.S.<br />government. The fund is managed so that income paid by the fund will be exempt<br />from state and local taxes. Because rules regarding the state and local taxation<br />of dividend income can differ from state to state, investors are urged to<br />consult their tax advisers about the taxation of the fund's dividend income in<br />their state and locality.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Agency shares from <br />year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br />  <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Agency shares over time. The fund's past performance (before <br />and after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000113Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000113Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000113Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DSAXX
0.0055
2007-10-01
0.0000
2011-12-31
0.0000
0.0000
331
146
0.0061
0.0000
0.0000
0.0143
0.0020
0.0001
27
2008-03-31
84
0.0006
0.0026
The year-to-date total return of the fund's Agency shares
0.0000
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000113Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Administrative shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem shares <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter <br />Q4, 2006: 1.20% <br />Worst Quarter <br />Q4, 2011: 0.00%  <br /><br /><br />The year-to-date total return of the fund's Administrative shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund only invests in<br />securities issued or guaranteed as to principal and interest by the U.S.<br />government. The fund is managed so that income paid by the fund will be exempt<br />from state and local taxes. Because rules regarding the state and local taxation<br />of dividend income can differ from state to state, investors are urged to<br />consult their tax advisers about the taxation of the fund's dividend income in<br />their state and locality.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Administrative <br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br />  <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Administrative shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000113Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000113Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000113Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DARXX
0.0000
2011-12-31
0.0154
0.0000
0.0098
0.00
393
174
0.0434
0.0120
0.0000
0.0001
0.0139
0.0020
0.00
0.0113
0.0269
32
2006-12-31
100
0.0086
0.0010
0.0162
0.0031
0.0450
The year-to-date total return of the fund's Administrative shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000112Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Participant shares call toll-free 1-800-346-3621.        <br />Individuals or entities for whom institutions may purchase or redeem shares should <br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q4, 2006: 1.18%          <br />Worst Quarter            <br />Q3, 2010: 0.00%           <br /> <br />The year-to-date total return of the fund's Participant shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund only invests in<br />securities issued or guaranteed as to principal and interest by the U.S.<br />government and repurchase agreements (including tri-party repurchase agreements)<br />in respect of such securities.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Participant shares<br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br />  <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of the agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Participant shares over time. The fund's past performance (before <br />and after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000112Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000112Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000112Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DTPXX
0.0000
2010-09-30
0.0125
0.0000
0.0070
0.00
762
340
0.0444
0.0118
0.0001
0.0001
0.0119
0.0020
0.00
0.0111
0.0250
62
2006-12-31
195
0.0055
0.0040
0.0149
0.0061
0.0438
The year-to-date total return of the fund's Participant shares
0.0001
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000112Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Investor shares call toll-free 1-800-346-3621. Individuals<br />or entities for whom institutions may purchase or redeem shares should call the     <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q4, 2006: 1.22%          <br />Worst Quarter            <br />Q3, 2010: 0.00%           <br /> <br />The year-to-date total return of the fund's Investor shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund only invests in<br />securities issued or guaranteed as to principal and interest by the U.S.<br />government and repurchase agreements (including tri-party repurchase agreements)<br />in respect of such securities.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Investor shares from <br />year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br />  <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of the agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Investor shares over time. The fund's past performance (before <br />and after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000112Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000112Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000112Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DTVXX
0.0000
2010-09-30
0.0140
0.0000
0.0086
0.00
579
258
0.0460
0.0122
0.0001
0.0001
0.0130
0.0020
0.000
0.0117
0.0266
47
2006-12-31
148
0.0070
0.0025
0.0159
0.0046
0.0454
The year-to-date total return of the fund's Investor shares
0.0001
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000112Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Institutional shares call toll-free 1-800-346-3621.     <br />Individuals or entities for whom institutions may purchase or redeem shares should<br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q4, 2006: 1.28%          <br />Worst Quarter            <br />Q1, 2010: 0.00%           <br /> <br />The year-to-date total return of the fund's Institutional shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund only invests in<br />securities issued or guaranteed as to principal and interest by the U.S.<br />government and repurchase agreements (including tri-party repurchase agreements)<br />in respect of such securities.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Institutional<br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible
to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /><br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of the agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Institutional shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000112Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000112Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000112Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DTRXX
0.0000
2010-03-31
0.0165
0.0000
0.0111
0.0001
268
118
0.0486
0.0128
0.0001
0.0001
0.0154
0.0020
0.0009
0.0128
0.0291
22
2006-12-31
68
0.0096
0.0178
0.0021
0.0480
The year-to-date total return of the fund's Institutional shares
0.0001
Worst Quarter
Best Quarter
2012-12-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000112Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Agency shares call toll-free 1-800-346-3621. Individuals <br />or entities for whom institutions may purchase or redeem shares should call the    <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q1, 2008: 0.63%          <br />Worst Quarter            <br />Q3, 2010: 0.00%           <br /> <br />The year-to-date total return of the fund's Agency shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund only invests in<br />securities issued or guaranteed as to principal and interest by the U.S.<br />government and repurchase agreements (including tri-party repurchase agreements)<br />in respect of such securities.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Agency shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br />  <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of the agreement.</tt>
Fees and Expenses
Principal Investment Strategy
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Agency shares over time. The fund's past performance (before and <br />after taxes) is no guarantee of future results. More recent performance <br />information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000112Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000112Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000112Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DYAXX
0.0060
2007-10-01
0.0000
2010-09-30
0.0000
0.000
343
152
0.0063
0.0001
0.0001
0.0148
0.0020
0.0005
28
2008-03-31
87
0.0006
0.0027
The year-to-date total return of the fund's Agency shares
0.0001
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000112Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation
(FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Administrative shares call toll-free 1-800-346-3621.    <br />Individuals or entities for whom institutions may purchase or redeem shares should<br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q4, 2006: 1.26%          <br />Worst Quarter            <br />Q3, 2010: 0.00%           <br /> <br />The year-to-date total return of the fund's Administrative shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund only invests in<br />securities issued or guaranteed as to principal and interest by the U.S.<br />government and repurchase agreements (including tri-party repurchase agreements)<br />in respect of such securities.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Administrative shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br />  <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of the agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Administrative shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000112Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000112Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000112Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DTAXX
0.0000
2010-09-30
0.0155
0.0000
0.01
0.000
393
174
0.0476
0.0126
0.0001
0.0001
0.0144
0.0020
0.0003
0.0123
0.0281
32
2006-12-31
100
0.0085
0.0010
0.0170
0.0031
0.0469
The year-to-date total return of the fund's Administrative shares
0.0001
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000098Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal
Deposit Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Participant shares call toll-free 1-800-346-3621.        <br />Individuals or entities for whom institutions may purchase or redeem shares should <br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q3, 2007: 0.79%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Participant shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its assets in short-term, high quality municipal<br />obligations that provide income exempt from federal income taxes. The fund also<br />may invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations. In<br />addition, the fund may invest temporarily in high quality, taxable money market<br />instruments, including when the portfolio manager believes that acceptable<br />municipal obligations are unavailable for investment.<br /> <br />While the fund is permitted to invest up to 20% of its assets in municipal<br />obligations that provide income that may be subject to the federal alternative<br />minimum tax, the fund currently is managed so that income paid by the fund will<br />not be subject to the federal alternative minimum tax.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the<br />fund's Participant shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at
$1.00 per share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of<br />a security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded <br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during periods<br />of declining interest rates. Also, during such periods, redemptions by a few<br />large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Participant shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000098Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000098Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000098Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal income tax<br />as is consistent with the preservation of capital and the maintenance of<br />liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DEPXX
0.0000
2011-09-30
0.0092
0.0000
0.0065
0.0001
774
346
0.0309
0.0079
0.0000
0.0002
0.0189
0.0020
0.0017
0.0102
0.0185
63
2007-09-30
199
0.0051
0.0040
0.0119
0.0062
0.0289
The year-to-date total return of the fund's Participant shares
0.0000
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000098Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Investor shares call toll-free 1-800-346-3621. Individuals<br />or entities for whom institutions may purchase or redeem shares should call the     <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q3, 2007: 0.83%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Investor shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its assets in short-term, high quality municipal<br />obligations that provide income exempt from federal income taxes. The fund also<br />may invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations. In<br />addition, the fund may invest temporarily in high quality, taxable money market<br />instruments, including when the portfolio manager believes that acceptable<br />municipal obligations are unavailable for investment.<br /> <br />While the fund is permitted to invest up to 20% of its assets in municipal<br />obligations that provide income that may be subject to the federal alternative<br />minimum tax, the fund currently is managed so that income paid by the fund will<br />not be subject to the federal alternative minimum tax.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Investor <br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause <br />a money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of <br />a security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Investor shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000098Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000098Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000098Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal income tax<br />as is consistent with the preservation of capital and the maintenance of<br />liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:<br /> </tt>
DEVXX
0.0000
2011-09-30
0.0107
0.0000
0.0081
0.0001
591
263
0.0325
0.0083
0.0000
0.0002
0.0204
0.0020
0.0024
0.0110
0.0200
48
2007-09-30
151
0.0066
0.0025
0.0130
0.0047
0.0304
The year-to-date total return of the fund's Investor shares
0.0000
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000098Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Institutional shares call toll-free 1-800-346-3621.     <br />Individuals or entities for whom institutions may purchase or redeem shares should<br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q3, 2007: 0.89%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Institutional shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its assets in short-term, high quality municipal<br />obligations that provide income exempt from federal income taxes. The fund also<br />may invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations. In<br />addition, the fund may invest temporarily in high quality, taxable money market<br />instruments, including when the portfolio manager believes that acceptable<br />municipal obligations are unavailable for investment.<br /> <br />While the fund is permitted to invest up to 20% of its assets in municipal<br />obligations that provide income that may be subject to the federal alternative<br />minimum tax, the fund currently is managed so that income paid by the fund will<br />not be subject to the federal alternative minimum tax.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Institutional <br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /><br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause <br />a money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of <br />a security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Institutional shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000098Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000098Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000098Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal income tax<br />as is consistent with the preservation of capital and the maintenance of<br />liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all of<br />your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DEIXX
0.0000
2011-09-30
0.0133
0.0000
0.0106
0.0010
306
135
0.0350
0.0089
0.0003
0.0004
0.0230
0.0020
0.0044
0.0126
0.0225
25
2007-09-30
77
0.0091
0.0151
0.0024
0.0329
The year-to-date total return of the fund's Institutional shares
0.0003
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000098Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Administrative shares call toll-free 1-800-346-3621. Individuals <br />or entities for whom institutions may purchase or redeem shares should call the <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter             <br />Q3, 2007: 0.87%          <br />Worst Quarter            <br />Q3, 2011: 0.00%          <br /> <br />The year-to-date total return of the fund's Administrative shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests<br />substantially all of its assets in short-term, high quality municipal<br />obligations that provide income exempt from federal income taxes. The fund also<br />may invest in high quality, short-term structured notes, which are derivative<br />instruments whose value is tied to underlying municipal obligations. In<br />addition, the fund may invest temporarily in high quality, taxable money market<br />instruments, including when the portfolio manager believes that acceptable<br />municipal obligations are unavailable for investment.<br /> <br />While the fund is permitted to invest up to 20% of its assets in municipal<br />obligations that provide income that may be subject to the federal alternative<br />minimum tax, the fund currently is managed so that income paid by the fund will<br />not be subject to the federal alternative minimum tax.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Administrative <br />shares from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible
to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce the<br />fund's income level and/or share price:<br /><br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Tax risk. To be tax-exempt, municipal obligations generally must meet certain<br />regulatory requirements. If any such municipal obligation fails to meet these<br />regulatory requirements, the interest received by the fund from its investment<br />in such obligations and distributed to fund shareholders will be taxable.<br /> <br />o Structured notes risk. Structured notes, a type of derivative instrument, can<br />be volatile, and the possibility of default by the financial institution or<br />counterparty may be greater for these instruments than for other types of money<br />market instruments. Structured notes typically are purchased in privately<br />negotiated transactions from financial institutions and, thus, an active trading<br />market for such instruments may not exist.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns of <br />the fund's Administrative shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000098Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000098Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000098Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income exempt from federal income tax<br />as is consistent with the preservation of capital and the maintenance of<br />liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DEAXX
0.0000
2011-09-30
0.0122
0.0000
0.0096
0.0002
406
180
0.0340
0.0087
0.0001
0.0002
0.0219
0.0020
0.0035
0.0118
0.0215
33
2007-09-30
103
0.0081
0.0010
0.0142
0.0032
0.0319
The year-to-date total return of the fund's Administrative shares
0.0001
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000018Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Participant shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem shares <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter<br />Q3, 2006: 1.21%<br />Worst Quarter<br />Q3, 2011: 0.00%<br /><br /><br />The year-to-date total return of the fund's Participant shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests in a<br />diversified portfolio of high quality, short-term, dollar-denominated debt<br />securities, including: securities issued or guaranteed as to principal and<br />interest by the U.S. government or its agencies or instrumentalities;<br />certificates of deposit, time deposits, bankers' acceptances and other<br />short-term securities issued by domestic or foreign banks or thrifts or their<br />subsidiaries or branches; repurchase agreements, including tri-party repurchase<br />agreements; asset-backed securities; domestic and dollar-denominated foreign<br />commercial paper and other short-term corporate obligations, including those<br />with floating or variable rates of interest; and dollar-denominated obligations<br />issued or guaranteed by one or more foreign governments or any of their<br />political subdivisions or agencies.<br /> <br />Normally, the fund invests at least 25% of its net assets in domestic or<br />dollar-denominated foreign bank obligations.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Participant shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce <br />the fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Banking industry risk. The risks generally associated with concentrating<br />investments in the banking industry, such as interest rate risk, credit risk,<br />and regulatory developments relating to the banking industry.<br /> <br />o Foreign investment risk. The risks generally associated with<br />dollar-denominated foreign investments, such as economic and political<br />developments, seizure or nationalization of deposits, imposition of taxes or<br />other restrictions on payment of principal and interest.<br /> <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of its agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Participant shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000018Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000018Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000018Member5 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DPCXX
0.0000
2011-09-30
0.0132
0.0000
0.0080
0.00
762
340
0.0482
0.0121
0.0000
0.0001
0.0252
0.0020
0.0022
0.0149
0.0269
62
2006-09-30
195
0.0062
0.0040
0.0174
0.0061
0.0456
The year-to-date total return of the fund's Participant shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000018Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Investor shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem <br />shares should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter <br />Q3, 2006: 1.25% <br />Worst Quarter <br />Q3, 2011: 0.00%<br /><br /><br />The year-to-date total return of the fund's Investor shares as of 3/31/12 was<br />0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests in a<br />diversified portfolio of high quality, short-term, dollar-denominated debt<br />securities, including: securities issued or guaranteed as to principal and<br />interest by the U.S. government or its agencies or instrumentalities;<br />certificates of deposit, time deposits, bankers' acceptances and other<br />short-term securities issued by domestic or foreign banks or thrifts or their<br />subsidiaries or branches; repurchase agreements, including tri-party repurchase<br />agreements; asset-backed securities; domestic and dollar-denominated foreign<br />commercial paper and other short-term corporate obligations, including those<br />with floating or variable rates of interest; and dollar-denominated obligations<br />issued or guaranteed by one or more foreign governments or any of their<br />political subdivisions or agencies.<br /> <br />Normally, the fund invests at least 25% of its net assets in domestic or<br />dollar-denominated foreign bank obligations.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Investor shares from <br />year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce <br />the fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Banking industry risk. The risks generally associated with concentrating<br />investments in the banking industry, such as interest rate risk, credit risk,<br />and regulatory developments relating to the banking industry.<br /> <br />o Foreign investment risk. The risks generally associated with<br />dollar-denominated foreign investments, such as economic and political<br />developments, seizure or nationalization of deposits, imposition of taxes or<br />other restrictions on payment of principal and interest.<br /> <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of its agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Investor shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000018Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000018Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000018Member4 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DVCXX
0.0000
2011-09-30
0.0147
0.0000
0.0096
0.00
579
258
0.0498
0.0125
0.0000
0.0001
0.0267
0.0020
0.0031
0.0157
0.0285
47
2006-09-30
148
0.0077
0.0025
0.0186
0.0046
0.0472
The year-to-date total return of the fund's Investor shares
0.00
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000018Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Institutional shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem shares <br />should call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter <br />Q3, 2006: 1.31% <br />Worst Quarter <br />Q3, 2011: 0.01%  <br /><br /><br />The year-to-date total return of the fund's Institutional shares as of 3/31/12<br />was 0.02%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests in a<br />diversified portfolio of high quality, short-term, dollar-denominated debt<br />securities, including: securities issued or guaranteed as to principal and<br />interest by the U.S. government or its agencies or instrumentalities;<br />certificates of deposit, time deposits, bankers' acceptances and other<br />short-term securities issued by domestic or foreign banks or thrifts or their<br />subsidiaries or branches; repurchase agreements, including tri-party repurchase<br />agreements; asset-backed securities; domestic and dollar-denominated foreign<br />commercial paper and other short-term corporate obligations, including those<br />with floating or variable rates of interest; and dollar-denominated obligations<br />issued or guaranteed by one or more foreign governments or any of their<br />political subdivisions or agencies.<br /> <br />Normally, the fund invests at least 25% of its net assets in domestic or<br />dollar-denominated foreign bank obligations.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Institutional shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital<br />support agreement or take other actions to prevent the fund's share price from<br />falling below $1.00. The following are the principal risks that could reduce <br />the fund's income level and/or share price:<br />  <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by a<br />few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Banking industry risk. The risks generally associated with concentrating<br />investments in the banking industry, such as interest rate risk, credit risk,<br />and regulatory developments relating to the banking industry.<br /> <br />o Foreign investment risk. The risks generally associated with<br />dollar-denominated foreign investments, such as economic and political<br />developments, seizure or nationalization of deposits, imposition of taxes or<br />other restrictions on payment of principal and interest.<br /> <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of its agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Institutional shares over time. The fund's past performance <br />(before and after taxes) is no guarantee of future results. More recent <br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000018Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000018Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000018Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DICXX
0.0002
2011-09-30
0.0172
0.0001
0.0121
0.0014
268
118
0.0524
0.0131
0.0008
0.0001
0.0293
0.0020
0.0052
0.0176
0.0310
22
2006-09-30
68
0.0102
0.0208
0.0021
0.0498
The year-to-date total return of the fund's Institutional shares
0.0008
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000018Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Agency shares call toll-free 1-800-346-3621. Individuals <br />or entities for whom institutions may purchase or redeem shares should call the    <br />institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter <br />Q1, 2008: 0.97% <br />Worst Quarter <br />Q4, 2011: 0.00%  <br /><br /><br />The year-to-date total return of the fund's Agency shares as of 3/31/12 was<br />0.01%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests in a<br />diversified portfolio of high quality, short-term, dollar-denominated debt<br />securities, including: securities issued or guaranteed as to principal and<br />interest by the U.S. government or its agencies or instrumentalities;<br />certificates of deposit, time deposits, bankers' acceptances and other<br />short-term securities issued by domestic or foreign banks or thrifts or their<br />subsidiaries or branches; repurchase agreements, including tri-party repurchase<br />agreements; asset-backed securities; domestic and dollar-denominated foreign<br />commercial paper and other short-term corporate obligations, including those<br />with floating or variable rates of interest; and dollar-denominated obligations<br />issued or guaranteed by one or more foreign governments or any of their<br />political subdivisions or agencies.<br /> <br />Normally, the fund invests at least 25% of its net assets in domestic or<br />dollar-denominated foreign bank obligations.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Agency shares from <br />year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actions to prevent the fund's share price from <br />falling below $1.00. The following are the principal risks that could reduce <br />the fund's income level and/or share price:<br /> <br />o Interest rate risk. This risk refers to the decline in the prices of<br />fixed-income securities that may accompany a rise in the overall level of<br />interest rates. A sharp and unexpected rise in interest rates could cause a<br />money market fund's share price to drop below a dollar.<br /> <br />o Credit risk. Failure of an issuer to make timely interest or principal<br />payments, or a decline or perception of a decline in the credit quality of a<br />security, can cause the security's price to fall, potentially lowering the<br />fund's share price. Although the fund invests only in high quality debt<br />securities, any of the fund's holdings could have its credit rating downgraded<br />or could default. The credit quality of the securities held by the fund can<br />change rapidly in certain market environments, and the default of a single<br />holding could have the potential to cause significant deterioration of the<br />fund's net asset value.<br /> <br />o Liquidity risk. When there is little or no active trading market for specific<br />types of securities, it can become more difficult to sell the securities at or<br />near their perceived value. In such a market, the value of such securities may<br />fall dramatically, potentially lowering the fund's share price, even during<br />periods of declining interest rates. Also, during such periods, redemptions by <br />a few large investors in the fund may have a significant adverse effect on the<br />fund's net asset value and remaining fund shareholders.<br /> <br />o Banking industry risk. The risks generally associated with concentrating<br />investments in the banking industry, such as interest rate risk, credit risk,<br />and regulatory developments relating to the banking industry.<br /> <br />o Foreign investment risk. The risks generally associated with<br />dollar-denominated foreign investments, such as economic and political<br />developments, seizure or nationalization of deposits, imposition of taxes or<br />other restrictions on payment of principal and interest.<br /> <br />o Government securities risk. Not all obligations of the U.S. government, its<br />agencies and instrumentalities are backed by the full faith and credit of the<br />U.S. Treasury. Some obligations are backed only by the credit of the issuing<br />agency or instrumentality, and in some cases there may be some risk of default<br />by the issuer. Any guarantee by the U.S. government or its agencies or<br />instrumentalities of a security held by the fund does not apply to the market<br />value of such security or to shares of the fund itself.<br /> <br />o U.S. Treasury securities risk. A security backed by the U.S. Treasury or the<br />full faith and credit of the United States is guaranteed only as to the timely<br />payment of interest and principal when held to maturity, but the market prices<br />for such securities are not guaranteed and will fluctuate.<br /> <br />o Repurchase agreement counterparty risk. The risk that a counterparty in a<br />repurchase agreement could fail to honor the terms of its agreement.</tt>
Fees and Expenses
Principal Investment Strategy
www.dreyfus.com
<tt>The following bar chart and table provide some indication of the risks of<br />investing in the fund. The table shows the average annual total returns <br />of the fund's Agency shares over time. The fund's past performance<br />(before and after taxes) is no guarantee of future results. More recent<br />performance information may be available at www.dreyfus.com.</tt>
<tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund.</tt>
<div style="display:none">~ http://www.dreyfus.com/role/OperatingExpensesData_S000000018Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div style="display:none">~ http://www.dreyfus.com/role/ExpenseExample_S000000018Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<div style="display:none">~ http://www.dreyfus.com/role/BarChartData_S000000018Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
<tt>The fund seeks as high a level of current income as is consistent with the<br />preservation of capital and the maintenance of liquidity.</tt>
<tt>The Example is intended to help you compare the cost of investing in the fund<br />with the cost of investing in other mutual funds. The Example assumes that you<br />invest $10,000 in the fund for the time periods indicated and then redeem all <br />of your shares at the end of those periods. The Example also assumes that your<br />investment has a 5% return each year and that the fund's operating expenses<br />remain the same. Although your actual costs may be higher or lower, based on<br />these assumptions your costs would be:</tt>
DMCXX
0.0110
2007-10-01
0.0001
2011-12-31
0.0000
0.0008
343
152
0.0097
0.0003
0.0001
0.0287
0.0020
0.0046
28
2008-03-31
87
0.0006
0.0027
The year-to-date total return of the fund's Agency shares
0.0003
Worst Quarter
Best Quarter
2012-03-31
<div style="display:none">~ http://www.dreyfus.com/role/PerformanceTableData_S000000018Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency.
Example
Investment Objective
The fund's past performance (before and after taxes) is no guarantee of future results.
Principal Risks
Year-by-Year Total Returns as of 12/31 each year (%)
Performance
<tt>For the current yield for Administrative shares call toll-free 1-800-346-3621. <br />Individuals or entities for whom institutions may purchase or redeem shares should<br />call the institution directly.</tt>
The following bar chart and table provide some indication of the risks of investing in the fund.
<tt>Best Quarter<br />Q3, 2006: 1.29%<br />Worst Quarter<br />Q3, 2011: 0.00%<br /><br /><br />The year-to-date total return of the fund's Administrative shares as of 3/31/12<br />was 0.00%.</tt>
<tt>As a money market fund, the fund is subject to the maturity, quality, liquidity<br />and diversification requirements of Rule 2a-7 under the Investment Company Act<br />of 1940, as amended, which are designed to help money market funds maintain a<br />stable share price of $1.00. To pursue its goal, the fund normally invests in a<br />diversified portfolio of high quality, short-term, dollar-denominated debt<br />securities, including: securities issued or guaranteed as to principal and<br />interest by the U.S. government or its agencies or instrumentalities;<br />certificates of deposit, time deposits, bankers' acceptances and other<br />short-term securities issued by domestic or foreign banks or thrifts or their<br />subsidiaries or branches; repurchase agreements, including tri-party repurchase<br />agreements; asset-backed securities; domestic and dollar-denominated foreign<br />commercial paper and other short-term corporate obligations, including those<br />with floating or variable rates of interest; and dollar-denominated obligations<br />issued or guaranteed by one or more foreign governments or any of their<br />political subdivisions or agencies.<br /> <br />Normally, the fund invests at least 25% of its net assets in domestic or<br />dollar-denominated foreign bank obligations.</tt>
Fund Summary
Average Annual Total Returns as of 12/31/11
<tt>The bar chart shows changes in the performance of the fund's Administrative shares <br />from year to year.</tt>
Although the fund seeks to preserve the value of your investment at $1.00 per
share, it is possible to lose money by investing in the fund.
<tt>An investment in the fund is not insured or guaranteed by the Federal Deposit<br />Insurance Corporation (FDIC) or any other government agency. Although the fund<br />seeks to preserve the value of your investment at $1.00 per share, it is<br />possible to lose money by investing in the fund.<br /> <br />The fund's yield will fluctuate as the short-term securities in its portfolio<br />mature and the proceeds are reinvested in securities with different interest<br />rates. Additionally, while the fund has maintained a constant share price since<br />inception, and will continue to try to do so, neither The Dreyfus Corporation<br />nor its affiliates are required to make a capital infusion, enter into a capital <br />support agreement or take other actio