N-Q 1 formdltf.htm FORM N-Q formdltf
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION 
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT 
INVESTMENT COMPANY

Investment Company Act file number    811-3700 

The Dreyfus/Laurel Tax-Free Municipal Funds 
(Exact name of Registrant as specified in charter) 

c/o The Dreyfus Corporation
200 Park Avenue
New York, New York 10166
(Address of principal executive offices)    (Zip code) 

Michael A. Rosenberg, Esq.
200 Park Avenue
New York, New York 10166
(Name and address of agent for service) 

Registrant's telephone number, including area code:    (212) 922-6000 

Date of fiscal year end:    06/30 

Date of reporting period:    09/30/07 

FORM N-Q

Item 1.    Schedule of Investments. 

STATEMENT OF INVESTMENTS 
Dreyfus Basic California Municipal Money Market Fund 
September 30, 2007 (Unaudited) 

    Coupon        Maturity    Principal     
Short-Term Investments--99.4%    Rate (%)        Date    Amount ($)    Value ($) 
California--87.1%                     
ABAG Finance Authority for                     
Non-Profit Corporations,                     
Revenue (Grauer Foundation for                     
Education Project) (LOC;                     
Comerica Bank)        3.87    10/7/07    3,920,000 a    3,920,000 
California,                     
Economic Recovery Bonds        5.00    1/1/08    285,000    285,896 
California,                     
GO (Kindergarten-University)                     
(LOC: California State                     
Teachers Retirement and                     
Citibank NA)        3.90    10/1/07    1,350,000 a    1,350,000 
California,                     
GO Notes        5.50    10/1/07    600,000    600,000 
California,                     
GO Notes        6.30    10/1/07    300,000    300,000 
California,                     
GO Notes        7.20    5/1/08    100,000    101,984 
California,                     
GO Notes (LOC: Bank of                     
America, Bank of Nova Scotia                     
and Landesbank                     
Hessen-Thuringen Girozentrale)        3.68    10/7/07    5,000,000 a    5,000,000 
California,                     
GO Notes (Various Purpose)                     
(Insured; MBIA)        7.50    10/1/07    160,000    160,000 
California,                     
GO Notes, Refunding        5.00    10/1/07    850,000    850,000 
California,                     
Various Purpose GO Notes        11.00    12/1/07    600,000    607,040 
California,                     
Various Purpose GO Notes        6.25    4/1/08    750,000    759,296 
California,                     
Veterans GO Notes        4.65    12/1/07    100,000    100,172 
California Department of Veteran                     
Affairs, Home Purchase Revenue        4.55    12/1/07    670,000    670,773 
California Department of Water                     
Resources, Power Supply                     
Revenue (LOC; BNP Paribas)        3.97    10/1/07    1,650,000 a    1,650,000 
California Department of Water                     
Resources, Power Supply                     
Revenue (LOC; Citibank NA)        3.97    10/1/07    3,600,000 a    3,600,000 
California Educational Facilities                     
Authority, Revenue, Refunding                     
(Art Center College of Design)                     
(LOC; Allied Irish Banks)        3.85    10/7/07    3,950,000 a    3,950,000 
California Infrastructure and                     

Economic Development Bank, IDR             
(Starter and Alternator                 
Exchange, Inc. Project) (LOC;                 
California State Teachers                 
Retirement System)    4.00    10/7/07    1,100,000 a    1,100,000 
California Infrastucture and                 
Economic Development Bank,                 
Industrial Revenue (Nature                 
Kist Snacks Project) (LOC;                 
Wells Fargo Bank)    3.87    10/7/07    1,500,000 a    1,500,000 
California Pollution Control                 
Financing Authority, PCR                 
(Evergreen Oil Inc. Project)                 
(LOC; Bank of The West)    3.85    10/7/07    900,000 a    900,000 
California Pollution Control                 
Financing Authority, RRR                 
(Wadham Energy Project)                 
(LOC; BNP Paribas)    3.82    10/7/07    2,500,000 a    2,500,000 
California Pollution Control                 
Financing Authority, SWDR                 
(Northern Recycling Project)                 
(LOC; Union Bank of California)    3.87    10/7/07    3,435,000 a    3,435,000 
California Pollution Control                 
Financing Authority, SWDR                 
(CR&R Inc. Project) (LOC; Bank                 
of the West)    3.85    10/7/07    2,000,000 a    2,000,000 
California Pollution Control                 
Financing Authority, SWDR                 
(GreenWaste Recovery, Inc.                 
Project) (LOC; Comerica Bank)    3.87    10/7/07    2,000,000 a    2,000,000 
California Pollution Control                 
Financing Authority, SWDR                 
(Rainbow Disposal Company Inc.             
Project) (LOC; Union Bank of                 
California)    3.87    10/7/07    3,910,000 a    3,910,000 
California Pollution Control                 
Financing Authority, SWDR                 
(Valley Vista Services, Inc.                 
Project) (LOC; Comerica Bank)    3.87    10/7/07    1,700,000 a    1,700,000 
California School Boards                 
Association Finance                 
Corporation, COP, TRAN                 
(California School Cash                 
Reserve Program) (Insured;                 
AMBAC)    4.25    7/1/08    3,000,000    3,013,639 
California Statewide Communities                 
Development Authority,                 
California Communities TRAN                 
Program Note Participations                 
(Certain Local Agencies)                 
(Insured; FSA)    4.50    6/30/08    2,000,000    2,012,375 
California Statewide Communities                 
Development Authority, MFHR                 
(Copeland Creek Apartments)                 

(Liquidity Facility; Goldman                 
Sachs Group Inc. and LOC;                 
Goldman Sachs Group Inc.)    3.94    10/7/07    400,000 a,b    400,000 
California Statewide Communities                 
Development Authority, MFHR                 
(Olen Jones Senior Apartments                 
Project) (LOC; Citibank NA)    4.06    10/7/07    860,000 a    860,000 
California Statewide Communities                 
Development Authority, Revenue                 
(House Ear Institute Project)                 
(LOC; City National Bank)    3.91    10/7/07    5,900,000 a    5,900,000 
California Statewide Communities                 
Development Authority,                 
Revenue, CP (Kaiser Permanente)    3.68    11/8/07    1,000,000    1,000,000 
Fresno Unified School District,                 
GO Notes, Refunding (Insured;                 
MBIA)    5.85    2/1/08    100,000    100,667 
Golden State Tobacco                 
Securitization Corporation,                 
Enhanced Tobacco Settlement                 
Asset-Backed Bonds (Insured;                 
FGIC and Liquidity Facility;                 
Morgan Stanley and Co.)    3.93    10/7/07    5,000,000 a,b    5,000,000 
Goldman Sachs Pool Trust,                 
Revenue (Liquidity Facility;                 
Goldman Sachs Group and LOC;                 
IXIS Corporate and Investment                 
Bank)    3.94    10/7/07    3,920,585 a,b    3,920,585 
Los Angeles County,                 
GO Notes, TRAN    4.50    6/30/08    1,550,000    1,558,916 
Los Angeles County School and                 
Community College Districts,                 
Pooled TRANS Participation                 
Certificates (Los Angeles                 
County Schools Pooled                 
Financing Program)    4.50    6/30/08    1,915,000    1,926,975 
Los Angeles Municipal Improvement                 
Corporation, LR, CP (LOC; Bank                 
of America)    3.69    11/15/07    1,000,000    1,000,000 
Los Angeles Unified School                 
District, GO Notes, TRAN    4.25    12/3/07    400,000    400,379 
Macon Trust Various Certificates                 
(Irvine Unified School                 
District) (Liquidity Facility;                 
Bank of America and LOC; Bank                 
of America)    3.90    10/7/07    2,700,000 a,b    2,700,000 
Menlo Park Community Development                 
Agency, Tax Allocation                 
Revenue, Refunding (Las Pulgas                 
Community Development Project)                 
(Insured; AMBAC and Liquidity                 
Facility; State Street Bank                 
and Trust Co.)    3.98    10/1/07    3,500,000 a    3,500,000 
Modesto Irrigation District                 

Financing Authority, Domestic                 
Water Project Revenue                 
(Insured; MBIA and Liquidity                 
Facility; DEPFA Bank PLC)    3.91    10/7/07    3,950,000 a,b    3,950,000 
Norco Redevelopment Agency,                 
Tax Allocation Revenue,                 
Refunding (Norco Redevelopment                 
Project Area Number One)                 
(Insured; MBIA)    3.80    3/1/08    175,000    175,000 
Pasadena Unified School District,                 
GO Notes, Refunding (Insured;                 
FGIC)    5.00    11/1/07    200,000    200,178 
Pittsburg Redevelopment Agency,                 
Subordinate Tax Allocation                 
Revenue (Los Medanos Community             
Development Project) (Insured;                 
AMBAC and Liquidity Facility:                 
California State Teachers                 
Retirement System and State                 
Street Bank and Trust Co.)    3.98    10/1/07    2,000,000 a    2,000,000 
Puttable Floating Option Tax                 
Exempt Receipts (California                 
Statewide Communities                 
Development Authority, MFHR                 
(La Mision Village Apartments                 
Project)) (Liquidity Facility;                 
Merrill Lynch and LOC; Merrill                 
Lynch)    3.83    10/7/07    6,205,000 a,b    6,205,000 
Puttable Floating Option Tax                 
Exempt Receipts (East Bay                 
Municipal Utility District,                 
Wastewater System Subordinated                 
Revenue) (Insured: AMBAC, FGIC                 
and MBIA and Liquidity                 
Facility; Merrill Lynch                 
Capital Services)    3.92    10/7/07    2,220,000 a,b    2,220,000 
Ravenswood City School District,                 
GO Notes, TRAN    4.00    7/1/08    2,400,000    2,405,189 
Sacramento Metropolitan Fire                 
District, GO Notes, TRAN    4.25    6/30/08    3,000,000    3,011,868 
San Diego County,                 
COP (Friends of Chabad                 
Lubavitch) (LOC; Comerica Bank)    3.85    10/7/07    1,600,000 a    1,600,000 
San Diego County and School                 
District, TRAN (Note Program                 
Note Participations)    4.50    6/30/08    2,620,000    2,636,591 
San Francisco City and County                 
Airport Commission, San                 
Francisco International                 
Airport Second Series Revenue                 
(Insured; FGIC)    5.00    5/1/08    100,000    100,739 
San Francisco City and County                 
Airport Commission, San                 
Francisco International                 

Airport Second Series Revenue                 
(Issue 15A) (Insured; FSA)    5.50    5/1/08    140,000    141,225 
San Francisco City and County                 
Public Utilities Commission,                 
San Francisco Water Revenue                 
(Insured; FSA and Liquidity                 
Facility; Morgan Stanley Bank)    3.89    10/7/07    7,000,000 a,b    7,000,000 
West Covina Public Financing                 
Authority, LR, Refunding                 
(Public Facilities Project)                 
(LOC; California State                 
Teachers Retirement System)    3.78    10/7/07    2,650,000 a    2,650,000 
 
U.S. Related--12.3%                 
BB&T Municipal Trust                 
(Puerto Rico Infrastructure                 
Financing Authority, Special                 
Tax Revenue) (Insured; AMBAC                 
and Liquidity Facility; Branch                 
Banking and Trust Co.)    3.90    10/7/07    3,600,000 a,b    3,600,000 
Guam,                 
Limited Obligation Section 30                 
Revenue (Insured; FSA)    3.70    12/1/07    225,000    225,007 
Puerto Rico Aqueduct and Sewer                 
Authority, Revenue (Liquidity                 
Facility; Citibank NA and LOC;                 
Citibank NA)    3.92    10/7/07    6,000,000 a,b    6,000,000 
Puerto Rico Commonwealth,                 
Public Improvement GO Notes                 
(Insured; MBIA)    5.50    7/1/08    135,000    136,766 
Puerto Rico Commonwealth,                 
Public Improvement GO Notes                 
(Insured; MBIA)    5.75    7/1/08    240,000    243,524 
Puerto Rico Electric Power                 
Authority, Power Revenue                 
(Insured; FSA)    5.00    7/1/08    190,000    191,770 
Puerto Rico Electric Power                 
Authority, Power Revenue,                 
Refunding (Insured; MBIA)    5.50    7/1/08    500,000    507,500 
Puerto Rico Industrial Tourist                 
Educational Medical and                 
Environmental Control                 
Facilities Authority, Higher                 
Education Revenue (Inter                 
American University of Puerto                 
Rico Project) (Insured; MBIA)    5.00    10/1/07    100,000    100,000 
Puerto Rico Municipal Finance                 
Agency, GO Notes (Insured; FSA)    5.50    8/1/08    100,000    101,413 
Puttable Floating Option Tax                 
Exempt Receipts (Puerto Rico                 
Highways and Transportation                 
Authority, Highway Revenue)                 
(Liquidity Facility; Dexia                 
Credit Locale and LOC; Dexia                 

Credit Locale)    3.89    10/7/07    4,500,000 a,b    4,500,000 
 
 
Total Investments (cost $126,145,467)            99.4%    126,145,467 
Cash and Receivables (Net)            .6%    778,911 
Net Assets            100.0%    126,924,378 

a    Securities payable on demand. Variable interest rate--subject to periodic change. 
b    Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in 
    transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2007, these 
    securities amounted to $45,495,585 or 35.8% of net assets.     
Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual 
reports previously filed with the Securities and Exchange Commission on Form N-CSR. 
Summary of Abbreviations         
ACA    American Capital Access    AGC    ACE Guaranty Corporation 
AGIC    Asset Guaranty Insurance Company    AMBAC    American Municipal Bond Assurance Corporation 
ARRN    Adjustable Rate Receipt Notes    BAN    Bond Anticipation Notes 
BIGI    Bond Investors Guaranty Insurance    BPA    Bond Purchase Agreement 
CGIC    Capital Guaranty Insurance Company    CIC    Continental Insurance Company 
CIFG    CDC Ixis Financial Guaranty    CMAC    Capital Market Assurance Corporation 
COP    Certificate of Participation    CP    Commercial Paper 
EDR    Economic Development Revenue    EIR    Environmental Improvement Revenue 
FGIC    Financial Guaranty Insurance Company    FHA    Federal Housing Administration 
FHLB    Federal Home Loan Bank    FHLMC    Federal Home Loan Mortgage Corporation 
FNMA    Federal National Mortgage Association    FSA    Financial Security Assurance 
GAN    Grant Anticipation Notes    GIC    Guaranteed Investment Contract 
GNMA Government National Mortgage Association    GO    General Obligation 
HR    Hospital Revenue    IDB    Industrial Development Board 
IDC    Industrial Development Corporation    IDR    Industrial Development Revenue 
LOC    Letter of Credit    LOR    Limited Obligation Revenue 
LR    Lease Revenue    MBIA    Municipal Bond Investors Assurance Insurance 
            Corporation 
MFHR    Multi-Family Housing Revenue    MFMR    Multi-Family Mortgage Revenue 
PCR    Pollution Control Revenue    PILOT    Payment in Lieu of Taxes 
RAC    Revenue Anticipation Certificates    RAN    Revenue Anticipation Notes 
RAW    Revenue Anticipation Warrants    RRR    Resources Recovery Revenue 
SAAN    State Aid Anticipation Notes    SBPA    Standby Bond Purchase Agreement 

SFHR    Single Family Housing Revenue    SFMR    Single Family Mortgage Revenue 
SONYMA    State of New York Mortgage Agency    SWDR    Solid Waste Disposal Revenue 
TAN    Tax Anticipation Notes    TAW    Tax Anticipation Warrants 
TRAN    Tax and Revenue Anticipation Notes    XLCA    XL Capital Assurance 

STATEMENT OF INVESTMENTS                 
Dreyfus Basic Massachusetts Municipal Money Market Fund         
September 30, 2007 (Unaudited)                     
 
    Coupon        Maturity    Principal     
Short-Term Investments--99.2%    Rate (%)        Date    Amount ($)    Value ($) 
ABN AMRO Munitops Certificates                     
Trust (Massachusetts Water                     
Resources Authority) (Insured;                     
FSA and Liquidity Facility;                     
ABN-AMRO)        3.91    10/7/07    5,845,000 a    5,845,000 
Boston Industrial Development                     
Financing Authority, Revenue                     
(Fenway Community Health                     
Center Project) (LOC; Fifth                     
Third Bank)        3.77    10/7/07    4,240,000 a    4,240,000 
Boston Industrial Development                     
Financing Authority, Revenue                     
(Fenway Community Health                     
Center Project) (LOC; Fifth                     
Third Bank)        3.77    10/7/07    6,000,000 a    6,000,000 
Braintree,                     
GO Notes, BAN        4.00    11/14/07    4,500,000    4,502,620 
Canton Housing Authority,                     
MFHR, Refunding (Canton                     
Arboretum Apartments)                     
(Insured; FNMA)        3.88    10/7/07    6,665,000 a    6,665,000 
Eclipse Funding Trust                     
(Massachusetts Water Resources                     
Authority) (Insured; MBIA and                     
Liquidity Facility; U.S. Bank)        3.88    10/7/07    6,000,000 a    6,000,000 
Littleton,                     
GO Notes, BAN        4.10    1/24/08    2,500,000    2,504,252 
Massachusetts                     
(Putters Program) (Insured;                     
AMBAC and Liquidity Facility;                     
JPMorgan Chase Bank)        3.91    10/7/07    3,995,000 a    3,995,000 
Massachusetts,                     
GO (Central Artery/Ted                     
Williams Tunnel Infrastructure                     
Loan Act of 2000) (Liquidity                     
Facility; Landesbank                     
Baden-Wurttemberg)        4.05    10/1/07    1,000,000 a    1,000,000 
Massachusetts,                     
GO Notes, Refunding (Liquidity                     
Facility; Citibank NA)        3.86    10/7/07    4,000,000 a    4,000,000 
Massachusetts Bay Transportation                     
Authority, General                     
Transportation Systems, GO                     
Notes (Liquidity Facility;                     
Westdeutsche Landesbank)        3.77    10/7/07    3,500,000 a    3,500,000 
Massachusetts Development Finance                     
Agency, Higher Education                     

Revenue, Refunding (Smith                 
College Issue)    3.82    10/7/07    5,000,000 a    5,000,000 
Massachusetts Development Finance                 
Agency, Revenue (Beaver                 
Country Day School Issue)                 
(LOC; Allied Irish Banks)    3.87    10/7/07    4,400,000 a    4,400,000 
Massachusetts Development Finance                 
Agency, Revenue (Boston                 
Children's Museum Issue) (LOC;                 
Royal Bank of Scotland)    3.84    10/7/07    2,500,000 a    2,500,000 
Massachusetts Development Finance                 
Agency, Revenue (Brandon                 
Residential Treatment Center,                 
Inc. Project) (LOC; SunTrust                 
Bank)    3.86    10/7/07    1,700,000 a    1,700,000 
Massachusetts Development Finance                 
Agency, Revenue (Checon                 
Corporation Issue) (LOC; Bank                 
of America)    3.90    10/7/07    3,250,000 a    3,250,000 
Massachusetts Development Finance                 
Agency, Revenue (Elderhostel,                 
Inc. Issue) (LOC; Royal Bank                 
of Scotland PLC)    3.87    10/7/07    3,045,000 a    3,045,000 
Massachusetts Development Finance                 
Agency, Revenue (Exploration                 
School, Inc. Issue) (LOC; TD                 
Banknorth, N.A.)    3.86    10/7/07    2,750,000 a    2,750,000 
Massachusetts Development Finance                 
Agency, Revenue (Lasell                 
College Issue) (LOC; Citizens                 
Bank of Massachusetts)    3.86    10/7/07    3,000,000 a    3,000,000 
Massachusetts Development Finance                 
Agency, Revenue (Meadowbrook                 
School Project) (LOC; Allied                 
Irish Banks)    3.84    10/7/07    1,330,000 a    1,330,000 
Massachusetts Development Finance                 
Agency, Revenue (WGBH                 
Educational Foundation Issue)                 
(Insured; AMBAC and Liquidity                 
Facility; Royal Bank of Canada)    3.85    10/7/07    3,745,000 a    3,745,000 
Massachusetts Development Finance                 
Agency, Revenue (Worcester                 
Academy Issue) (LOC; Allied                 
Irish Banks)    3.88    10/7/07    3,000,000 a    3,000,000 
Massachusetts Health and                 
Educational Facilities                 
Authority, Revenue (Amherst                 
College Issue)    3.60    1/10/08    3,000,000    3,000,000 
Massachusetts Health and                 
Educational Facilities                 
Authority, Revenue (Bentley                 
College Issue) (LOC; JPMorgan                 
Chase Bank)    3.85    10/7/07    2,500,000 a    2,500,000 
Massachusetts Health and                 

Educational Facilities                 
Authority, Revenue (Capital                 
Asset Program Issue) (Insured;                 
MBIA and Liquidity Facility;                 
State Street Bank and Trust                 
Co.)    3.96    10/1/07    1,800,000 a    1,800,000 
Massachusetts Health and                 
Educational Facilities                 
Authority, Revenue (Capital                 
Asset Program Issue) (Insured;                 
MBIA and Liquidity Facility;                 
State Street Bank and Trust                 
Co.)    4.00    10/1/07    1,500,000 a    1,500,000 
Massachusetts Health and                 
Educational Facilities                 
Authority, Revenue (Great                 
Brook Valley Health Center)                 
(LOC; TD Banknorth, N.A.)    3.87    10/7/07    1,600,000 a    1,600,000 
Massachusetts Health and                 
Educational Facilities                 
Authority, Revenue (Harvard                 
University Issue)    3.71    10/1/07    1,200,000 a    1,200,000 
Massachusetts Health and                 
Educational Facilities                 
Authority, Revenue                 
(Massachusetts Institute of                 
Technology Issue)    3.74    10/7/07    2,500,000 a    2,500,000 
Massachusetts Health and                 
Educational Facilities                 
Authority, Revenue (Partners                 
HealthCare System - Capital                 
Asset Program Issue) (Insured;                 
FSA and Liquidity Facility:                 
Bayerische Landesbank and                 
JPMorgan Chase Bank)    3.86    10/7/07    2,500,000 a    2,500,000 
Massachusetts Health and                 
Educational Facilities                 
Authority, Revenue (Partners                 
HealthCare System Issue) (LOC;             
Citibank NA)    3.84    10/7/07    6,000,000 a    6,000,000 
Massachusetts Health and                 
Educational Facilities                 
Authority, Revenue (Peabody                 
Essex Museum Issue) (LOC;                 
Royal Bank of Scotland)    3.84    10/7/07    4,400,000 a    4,400,000 
Massachusetts Health and                 
Educational Facilities                 
Authority, Revenue (Putters                 
Program) (Insured; FGIC and                 
Liquidity Facility; JPMorgan                 
Chase Bank)    3.91    10/7/07    4,485,000 a    4,485,000 
Massachusetts Health and                 
Educational Facilities                 

Authority, Revenue (University                 
of Massachusetts Issue) (LOC;                 
Dexia Credit Locale)    3.82    10/7/07    2,400,000 a    2,400,000 
Massachusetts Health and                 
Educational Facilities                 
Authority, Revenue (Wellesley                 
College Issue)    3.80    10/7/07    4,475,000 a    4,475,000 
Massachusetts School Building                 
Authority, CP (LOC; Bank of                 
Nova Scotia)    3.55    3/12/08    2,000,000    2,000,000 
Massachusetts Water Resources                 
Authority, Multi-Modal                 
Subordinated General Revenue,                 
Refunding (Insured; FGIC and                 
Liquidity Facility; Bayerische                 
Landesbank)    3.86    10/7/07    3,700,000 a    3,700,000 
Massachusetts Water Resources                 
Authority, Multi-Modal                 
Subordinated General Revenue,                 
Refunding (Insured; FGIC and                 
Liquidity Facility; Dexia                 
Credit Locale)    3.88    10/7/07    2,600,000 a    2,600,000 
Massachusetts Water Resources                 
Authority, Multi-Modal                 
Subordinated General Revenue,                 
Refunding (LOC; Landesbank                 
Hessen-Thuringen Girozentrale)    4.05    10/1/07    700,000 a    700,000 
Northborough-Southborough Regional                 
School District, GO Notes, BAN    4.00    10/25/07    2,500,000    2,500,761 
University of Massachusetts                 
Building Authority, Project                 
and Refunding Revenue                 
(Insured; AMBAC and Liquidity                 
Facility; DEPFA Bank PLC)    3.86    10/7/07    3,000,000 a    3,000,000 
 
 
Total Investments (cost $134,832,633)            99.2%    134,832,633 
Cash and Receivables (Net)            .8%    1,037,365 
Net Assets            100.0%    135,869,998 
a Securities payable on demand. Variable interest rate--subject to periodic change.         

Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

Summary of Abbreviations         
ACA    American Capital Access    AGC    ACE Guaranty Corporation 
AGIC    Asset Guaranty Insurance Company    AMBAC    American Municipal Bond Assurance Corporation 
ARRN    Adjustable Rate Receipt Notes    BAN    Bond Anticipation Notes 

BIGI    Bond Investors Guaranty Insurance    BPA    Bond Purchase Agreement 
CGIC    Capital Guaranty Insurance Company    CIC    Continental Insurance Company 
CIFG    CDC Ixis Financial Guaranty    CMAC    Capital Market Assurance Corporation 
COP    Certificate of Participation    CP    Commercial Paper 
EDR    Economic Development Revenue    EIR    Environmental Improvement Revenue 
FGIC    Financial Guaranty Insurance Company    FHA    Federal Housing Administration 
FHLB    Federal Home Loan Bank    FHLMC    Federal Home Loan Mortgage Corporation 
FNMA    Federal National Mortgage Association    FSA    Financial Security Assurance 
GAN    Grant Anticipation Notes    GIC    Guaranteed Investment Contract 
GNMA    Government National Mortgage Association    GO    General Obligation 
HR    Hospital Revenue    IDB    Industrial Development Board 
IDC    Industrial Development Corporation    IDR    Industrial Development Revenue 
LOC    Letter of Credit    LOR    Limited Obligation Revenue 
LR    Lease Revenue    MBIA    Municipal Bond Investors Assurance Insurance 
            Corporation 
MFHR    Multi-Family Housing Revenue    MFMR    Multi-Family Mortgage Revenue 
PCR    Pollution Control Revenue    PILOT    Payment in Lieu of Taxes 
RAC    Revenue Anticipation Certificates    RAN    Revenue Anticipation Notes 
RAW    Revenue Anticipation Warrants    RRR    Resources Recovery Revenue 
SAAN    State Aid Anticipation Notes    SBPA    Standby Bond Purchase Agreement 
SFHR    Single Family Housing Revenue    SFMR    Single Family Mortgage Revenue 
SONYMA    State of New York Mortgage Agency    SWDR    Solid Waste Disposal Revenue 
TAN    Tax Anticipation Notes    TAW    Tax Anticipation Warrants 
TRAN    Tax and Revenue Anticipation Notes    XLCA    XL Capital Assurance 

STATEMENT OF INVESTMENTS                 
Dreyfus Basic New York Municipal Money Market Fund             
September 30, 2007 (Unaudited)                     
 
    Coupon        Maturity    Principal     
Short-Term Investments--99.7%    Rate (%)        Date    Amount ($)    Value ($) 
New York--97.8%                     
Albany Housing Authority,                     
Revenue (Nutgrove Garden                     
Apartments Project) (LOC;                     
Citizens Bank of Massachusetts)        3.93    10/7/07    1,545,000 a    1,545,000 
Albany Industrial Development                     
Agency, Civic Facility Revenue                     
(Albany College of Pharmacy                     
Project) (LOC; TD Banknorth,                     
N.A.)        3.92    10/7/07    3,700,000 a    3,700,000 
Albany Industrial Development                     
Agency, Civic Facility Revenue                     
(CHF Holland Suites, L.L.C.                     
Project) (LOC; TD Banknorth,                     
N.A.)        3.87    10/7/07    6,390,000 a    6,390,000 
Albany Industrial Development                     
Agency, Civic Facility Revenue                     
(Corning Preserve/Hudson                     
Riverfront Development                     
Project) (LOC; Key Bank)        3.92    10/7/07    1,355,000 a    1,355,000 
Albany Industrial Development                     
Agency, Civic Facility Revenue                     
(University at Albany                     
Foundation Student Housing                     
Corporation - Empire Commons                     
East Project) (Insured; AMBAC                     
and Liquidity Facility; Key                     
Bank)        3.92    10/7/07    4,245,000 a    4,245,000 
Alexandria Bay,                     
GO Notes, BAN        4.25    9/18/08    2,000,000    2,008,360 
Amsterdam Enlarged City School                     
District, GO Notes, BAN        4.00    7/3/08    1,346,000    1,348,436 
Auburn Industrial Development                     
Authority, IDR (Fat Tire LLC                     
Project) (LOC; Citizens Bank                     
of Pennsylvania)        3.99    10/7/07    1,300,000 a    1,300,000 
Avoca Central School District,                     
GO Notes, BAN        4.00    6/26/08    2,000,000    2,002,830 
Chautauqua County,                     
GO Notes, TAN        4.00    12/21/07    1,170,000    1,171,006 
Cincinnatus Central School                     
District, GO Notes, BAN        4.00    6/18/08    3,100,000    3,105,306 
Colonie,                     
GO Notes, BAN        4.00    4/4/08    1,500,000    1,501,847 
Colonie,                     
GO Notes, BAN        4.25    4/4/08    7,000,000    7,015,393 
Erie County Industrial Development                     

Agency, IDR (Luminescent                 
System Inc. Project) (LOC;                 
HSBC Bank USA)    4.00    10/7/07    3,995,000 a    3,995,000 
Glens Falls City School District,                 
GO Notes, RAN    4.25    6/18/08    1,000,000    1,003,430 
Goldman Sachs Pool Trust                 
(Riverhead Industrial                 
Development Authority, MFHR                 
(Riverhead Village                 
Preservation, L.P. Project))                 
(Liquidity Facility; Goldman                 
Sachs Group Inc. and LOC; Ixis                 
Corporate and Investment Bank)    3.94    10/7/07    2,600,000 a,b    2,600,000 
Hamburg Central School District,                 
GO Notes, BAN    4.25    7/3/08    2,400,000    2,407,828 
Hudson Yards Infrastructure                 
Corporation, Hudson Yards                 
Senior Revenue (Insured; FGIC                 
and Liquidity Facility;                 
Landesbank Hessen-Thuringen                 
Girozentrale)    3.91    10/7/07    21,800,000 a,b    21,800,000 
Hudson Yards Infrastructure                 
Corporation, Hudson Yards                 
Senior Revenue (Insured; FGIC                 
and Liquidity Facility; Morgan                 
Stanley Bank)    3.93    10/7/07    10,000,000 a,b    10,000,000 
Lancaster Industrial Development                 
Agency, IDR (Jiffy-Tite                 
Company, Inc. Project) (LOC;                 
Key Bank)    3.99    10/7/07    1,180,000 a    1,180,000 
Metropolitan Transportation                 
Authority, Transportation                 
Revenue (Insured; AMBAC and                 
Liquidity Facility; PB Finance                 
Inc.)    3.93    10/7/07    6,790,000 a,b    6,790,000 
Metropolitan Transportation                 
Authority, Transportation                 
Revenue, CP (LOC; ABN-AMRO)    3.72    10/11/07    4,000,000    4,000,000 
Metropolitan Transportation                 
Authority, Transportation                 
Revenue, CP (LOC; ABN-AMRO)    3.71    12/6/07    1,000,000    1,000,000 
Metropolitan Transportation                 
Authority, Transportation                 
Revenue, CP (LOC; ABN-AMRO)    3.72    12/14/07    5,000,000    5,000,000 
Metropolitan Transportation                 
Authority, Transportation                 
Revenue, Refunding (Insured;                 
FGIC and Liquidity Facility;                 
Morgan Stanley Bank)    3.90    10/7/07    2,000,000 a,b    2,000,000 
Monroe County Industrial                 
Development Agency, Civic                 
Facility Revenue (YMCA of                 
Greater Rochester Project)                 
(LOC; M&T Bank)    3.89    10/7/07    2,500,000 a    2,500,000 

Monroe County Industrial                 
Development Agency, Civic                 
Facility Revenue (YMCA of                 
Greater Rochester Project)                 
(LOC; M&T Bank)    3.89    10/7/07    5,345,000 a    5,345,000 
Monroe County Industrial                 
Development Agency, IDR (2883                 
Associates LP) (LOC; HSBC Bank                 
USA)    4.00    10/7/07    895,000 a    895,000 
Monroe County Industrial                 
Development Agency, IDR                 
(Mercury Print Productions                 
Inc. Facility) (LOC; M&T Bank)    4.06    10/7/07    285,000 a    285,000 
Nassau County,                 
GO Notes, TAN    4.25    9/30/07    5,000,000    5,000,000 
New York City                 
(LOC; Bank of America)    4.02    10/1/07    4,600,000 a    4,600,000 
New York City,                 
CP (Insured; MBIA and                 
Liquidity Facility; Landesbank                 
Hessen-Thuringen Girozentrale)    3.72    11/8/07    4,500,000    4,500,000 
New York City Industrial                 
Development Agency, Civic                 
Facility Revenue (Abraham                 
Joshua Heschel High School                 
Project) (LOC; Allied Irish                 
Banks)    3.92    10/7/07    4,000,000 a    4,000,000 
New York City Industrial                 
Development Agency, Civic                 
Facility Revenue (Columbia                 
Grammar and Preparatory School                 
Project) (LOC; Allied Irish                 
Banks)    3.87    10/7/07    3,400,000 a    3,400,000 
New York City Industrial                 
Development Agency, Civic                 
Facility Revenue (Hewitt                 
School Project) (LOC; Allied                 
Irish Banks)    3.87    10/7/07    1,570,000 a    1,570,000 
New York City Industrial                 
Development Agency, Civic                 
Facility Revenue (Mercy                 
College Project) (LOC; Key                 
Bank)    3.86    10/7/07    4,200,000 a    4,200,000 
New York City Industrial                 
Development Agency, Civic                 
Facility Revenue (Sephardic                 
Community Youth Center, Inc.                 
Project) (LOC; M&T Bank)    3.89    10/7/07    5,000,000 a    5,000,000 
New York City Industrial                 
Development Agency, Civic                 
Facility Revenue                 
(Spence-Chapin, Services to                 
Families and Children Project)                 
(LOC; Allied Irish Banks)    3.87    10/7/07    4,000,000 a    4,000,000 

New York City Industrial                 
Development Agency, Civic                 
Facility Revenue (The                 
Allen-Stevenson School                 
Project) (LOC; Allied Irish                 
Banks)    3.87    10/7/07    3,105,000 a    3,105,000 
New York City Industrial                 
Development Agency, Civic                 
Facility Revenue, Refunding                 
(Federation of Protestant                 
Welfare Agencies Inc. Project)                 
(LOC; Allied Irish Banks)    3.87    10/7/07    3,000,000 a    3,000,000 
New York City Industrial                 
Development Agency, IDR                 
(Novelty Crystal Corporation                 
Project) (LOC; Commerce Bank                 
N.A.)    3.97    10/7/07    3,645,000 a    3,645,000 
New York City Industrial                 
Development Agency, Liberty                 
Revenue (7 World Trade Center,             
LLC Project) (LOC; Citibank NA                 
and Liquidity Facility;                 
Citibank NA)    3.91    10/7/07    700,000 a,b    700,000 
New York City Industrial                 
Development Agency, Special                 
Facility Revenue (Air Express                 
International Corporation                 
Project) (LOC; Citibank NA)    3.91    10/7/07    5,000,000 a    5,000,000 
New York City Transitional Finance                 
Authority, Revenue (New York                 
City Recovery) (Liquidity                 
Facility; Royal Bank of Canada)    3.91    10/1/07    1,000,000 a    1,000,000 
New York Counties Tobacco Trust                 
IV, Tobacco Settlement                 
Pass-Through Bonds (Liquidity                 
Facility; Merrill Lynch                 
Capital Services and LOC;                 
Merrill Lynch)    3.93    10/7/07    18,080,000 a,b    18,080,000 
New York State                 
(LOC; Dexia Credit Locale)    3.70    12/4/07    3,000,000    3,000,000 
New York State Dormitory                 
Authority, Insured Revenue                 
(Long Island University)                 
(Insured; CIFG and Liquidity                 
Facility; Dexia Credit Locale)    4.05    10/1/07    6,100,000 a    6,100,000 
New York State Dormitory                 
Authority, Revenue (Park Ridge                 
Hospital Inc.) (LOC; JPMorgan                 
Chase Bank)    3.87    10/7/07    9,600,000 a    9,600,000 
New York State Energy Research and             
Development Authority,                 
Facilities Revenue                 
(Consolidated Edison Company                 
of New York, Inc. Project)                 

(LOC; Citibank NA)    3.84    10/7/07    5,000,000 a    5,000,000 
New York State Housing Finance                 
Agency, Housing Revenue (250                 
West 93rd Street) (LOC;                 
Landesbank Hessen-Thuringen                 
Girozentrale)    3.85    10/7/07    4,000,000 a    4,000,000 
New York State Housing Finance                 
Agency, Housing Revenue                 
(Gateway to New Cassel) (LOC;                 
JPMorgan Chase Bank)    3.95    10/7/07    2,300,000 a    2,300,000 
New York State Housing Finance                 
Agency, Housing Revenue (Rip                 
Van Winkle House) (Insured;                 
FHLMC)    3.85    10/7/07    4,600,000 a    4,600,000 
New York State Housing Finance                 
Agency, Revenue (Worth Street)                 
(LOC; FNMA)    3.90    10/7/07    9,400,000 a    9,400,000 
New York State Urban Development                 
Corporation, COP (James A.                 
Farley Post Office Project)                 
(Liquidity Facility; Citigroup                 
and LOC; Citigroup)    3.94    10/7/07    5,000,000 a,b    5,000,000 
Newburgh Industrial Development                 
Agency, Civic Facility Revenue                 
(Community Development                 
Properties Dubois Street II,                 
Inc. Project) (LOC; Key Bank)    3.92    10/7/07    10,730,000 a    10,730,000 
Newburgh Industrial Development                 
Agency, MFHR (Belvedere                 
Housing Project) (Liquidity                 
Facility; Merrill Lynch)    4.04    10/7/07    6,100,000 a,b    6,100,000 
North Syracuse Central School                 
District, GO Notes, RAN    4.00    6/19/08    1,200,000    1,202,062 
Olean,                 
GO Notes RAN    4.00    8/14/08    1,800,000    1,803,003 
Otsego County Industrial                 
Development Agency, Civic                 
Facility Revenue (Noonan                 
Community Service Corporation                 
Project) (LOC; FHLB)    3.93    10/7/07    1,365,000 a    1,365,000 
Patchogue-Medford Union Free                 
School District, GO Notes, TAN    4.25    6/27/08    1,950,000    1,954,146 
Patchogue-Medford Union Free                 
School District, GO Notes, TAN    4.50    6/27/08    3,900,000    3,915,213 
Port Authority of New York and New                 
Jersey (Consolidated Bonds,                 
148th Series) (Insured; FSA                 
and Liquidity Facility; Morgan                 
Stanley Bank)    3.90    10/7/07    6,875,000 a,b    6,875,000 
Port Authority of New York and New                 
Jersey, CP (Liquidity                 
Facility; Landesbank                 
Hessen-Thuringen Girozentrale)    3.75    11/15/07    2,200,000    2,200,000 
Putnam County,                 

GO Notes, TAN    4.00    11/15/07    2,800,000    2,801,340 
Putnam County Industrial                 
Development Agency, Civic                 
Facility Revenue (United                 
Cerebral Palsy of Putnam and                 
Southern Dutchess Project)                 
(LOC; Commerce Bank N.A.)    3.89    10/7/07    8,025,000 a    8,025,000 
Rockland County Industrial                 
Development Agency, Civic                 
Facility Revenue (Dominican                 
College of Blauvelt Project)                 
(LOC; Commerce Bank N.A.)    3.88    10/7/07    6,340,000 a    6,340,000 
Rockland County Industrial                 
Development Agency, IDR                 
(Intercos America Inc.                 
Project) (LOC; HSBC Bank USA)    4.00    10/7/07    3,800,000 a    3,800,000 
Saint Lawrence County Industrial                 
Development Agency, Civic                 
Facility Revenue                 
(Canton-Potsdam Hospital                 
Project) (LOC; Key Bank)    3.92    10/7/07    10,605,000 a    10,605,000 
South Country Central School                 
District at Brookhaven, GO                 
Notes, BAN    4.25    1/18/08    1,000,000    1,001,293 
Syracuse Industrial Development                 
Agency, Civic Facility                 
Revenue, Refunding (Crouse                 
Health Hospital, Inc. Project)                 
(LOC; M&T Bank)    3.97    10/7/07    4,000,000 a    4,000,000 
Tompkins County Industrial                 
Development Agency, Civic                 
Facility Revenue (Cortland                 
College) (LOC; HSBC Bank USA)    3.88    10/7/07    4,150,000 a    4,150,000 
TSASC Inc. of New York,                 
Tobacco Settlement                 
Asset-Backed Bonds (Liquidity                 
Facility; Merrill Lynch)    3.93    10/7/07    4,610,000 a,b    4,610,000 
Watervliet City School District,                 
GO Notes, BAN    4.00    6/30/08    2,000,000    2,002,898 
Westchester County Industrial                 
Development Agency, Civic                 
Facility Revenue (Mercy                 
College Project) (LOC; Key                 
Bank)    3.86    10/7/07    2,900,000 a    2,900,000 
Westchester County Industrial                 
Development Agency, Civic                 
Facility Revenue (Northern                 
Westchester Hospital                 
Association Civic Facility)                 
(LOC; Commerce Bank N.A.)    3.87    10/7/07    6,800,000 a    6,800,000 
Westchester Tobacco Asset                 
Securitization Corporation,                 
Tobacco Settlement                 
Asset-Backed Bonds (Liquidity                 

Facility; Merrill Lynch                 
Capital Services and LOC;                 
Merrill Lynch)    3.93    10/7/07    8,330,000 a,b    8,330,000 
 
U.S. Related--1.9%                 
Puerto Rico Aqueduct and Sewer                 
Authority, Revenue (Liquidity                 
Facility; Citibank NA and LOC;                 
Citibank NA)    3.92    10/7/07    2,000,000 a,b    2,000,000 
Puerto Rico Industrial Tourist                 
Educational Medical and                 
Environmental Control                 
Facilities Financing                 
Authority, Environmental                 
Control Facilities Revenue                 
(Bristol-Myers Squibb Company                 
Project)    3.89    10/7/07    4,400,000 a    4,400,000 
 
 
Total Investments (cost $335,199,391)            99.7%    335,199,391 
Cash and Receivables (Net)            .3%    859,312 
Net Assets            100.0%    336,058,703 

a    Securities payable on demand. Variable interest rate--subject to periodic change. 
b    Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in 
    transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2007, these 
    securities amounted to $94,885,000 or 28.2% of net assets. 

Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.

Summary of Abbreviations         
ACA    American Capital Access    AGC    ACE Guaranty Corporation 
AGIC    Asset Guaranty Insurance Company    AMBAC    American Municipal Bond Assurance Corporation 
ARRN    Adjustable Rate Receipt Notes    BAN    Bond Anticipation Notes 
BIGI    Bond Investors Guaranty Insurance    BPA    Bond Purchase Agreement 
CGIC    Capital Guaranty Insurance Company    CIC    Continental Insurance Company 
CIFG    CDC Ixis Financial Guaranty    CMAC    Capital Market Assurance Corporation 
COP    Certificate of Participation    CP    Commercial Paper 
EDR    Economic Development Revenue    EIR    Environmental Improvement Revenue 
FGIC    Financial Guaranty Insurance Company    FHA    Federal Housing Administration 
FHLB    Federal Home Loan Bank    FHLMC    Federal Home Loan Mortgage Corporation 
FNMA    Federal National Mortgage Association    FSA    Financial Security Assurance 
GAN    Grant Anticipation Notes    GIC    Guaranteed Investment Contract 
GNMA    Government National Mortgage Association    GO    General Obligation 

HR    Hospital Revenue    IDB    Industrial Development Board 
IDC    Industrial Development Corporation    IDR    Industrial Development Revenue 
LOC    Letter of Credit    LOR    Limited Obligation Revenue 
LR    Lease Revenue    MBIA    Municipal Bond Investors Assurance Insurance 
            Corporation 
MFHR    Multi-Family Housing Revenue    MFMR    Multi-Family Mortgage Revenue 
PCR    Pollution Control Revenue    PILOT    Payment in Lieu of Taxes 
RAC    Revenue Anticipation Certificates    RAN    Revenue Anticipation Notes 
RAW    Revenue Anticipation Warrants    RRR    Resources Recovery Revenue 
SAAN    State Aid Anticipation Notes    SBPA    Standby Bond Purchase Agreement 
SFHR    Single Family Housing Revenue    SFMR    Single Family Mortgage Revenue 
SONYMA    State of New York Mortgage Agency    SWDR    Solid Waste Disposal Revenue 
TAN    Tax Anticipation Notes    TAW    Tax Anticipation Warrants 
TRAN    Tax and Revenue Anticipation Notes    XLCA    XL Capital Assurance 

Item 2.    Controls and Procedures. 

(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3.    Exhibits. 

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

The Dreyfus/Laurel Tax-Free Municipal Funds

By:    /s/ J. David Officer 
    J. David Officer 
    President 
 
Date:    November 26, 2007 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:    /s/ J. David Officer 
    J. David Officer 
    President 
 
Date:    November 26, 2007 

By:    /s/ James Windels 
    James Windels 
    Treasurer
 
Date:    November 26, 2007 

EXHIBIT INDEX

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)