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Dreyfus BASIC California Municipal Money Market Fund (Prospectus Summary) | Dreyfus BASIC California Municipal Money Market Fund
Fund Summary
Investment Objective
The fund seeks to provide a high level of current income exempt from federal and
California state income taxes to the extent consistent with the preservation of
capital and the maintenance of liquidity.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy and hold
shares of the fund.
Shareholder Fees (charged if your account balance is less than $50,000) [1]
Shareholder Fees (USD $)
Dreyfus BASIC California Municipal Money Market Fund
Exchange fee 5.00
Account closeout fee 5.00
Wire and Dreyfus TeleTransfer redemption fee 5.00
Checkwriting charge 2.00
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Dreyfus BASIC California Municipal Money Market Fund
Management fees 0.45%
Other expenses 0.01%
Total annual fund operating expenses 0.46%
Fee waiver and/or expense reimbursement [1] (0.01%)
Total annual fund operating expenses (after fee waiver and/or expense reimbursement) 0.45%
[1] The Dreyfus Corporation has agreed to pay all of the fund's expenses, except management fees and certain other expenses, including the fees and expenses of the non-interested board members and their counsel. The Dreyfus Corporation has agreed to reduce its fees in an amount equal to the fund's allocable portion of the fees and expenses of the non-interested board members and their counsel (in the amount of 0.01% for the past fiscal year).
Example
The Example is intended to help you compare the cost of investing in the fund
with the cost of investing in other mutual funds. The Example assumes that you
invest $10,000 in the fund for the time periods indicated and then redeem all
of your shares at the end of those periods. The Example also assumes that your
investment has a 5% return each year and that the fund's operating expenses
remain the same. Although your actual costs may be higher or lower, based on
these assumptions your costs would be:
Expense Example (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Dreyfus BASIC California Municipal Money Market Fund
46 144 252 567
Principal Investment Strategy
As a money market fund, the fund is subject to the maturity, quality, liquidity
and diversification requirements of Rule 2a-7 under the Investment Company Act
of 1940, as amended, which are designed to help money market funds maintain a
stable share price of $1.00. To pursue its goal, the fund normally invests
substantially all of its net assets in short-term, high quality municipal
obligations that provide income exempt from federal and California state income
taxes. The fund also may invest in high quality short-term structured notes,
which are derivative instruments whose value is tied to underlying municipal
obligations.

Although the fund seeks to provide income exempt from federal and California
state income taxes, income from some of the fund's holdings may be subject to
the federal alternative minimum tax. In addition, the fund may invest
temporarily in high quality, taxable money market instruments and/or municipal
obligations that pay income exempt only from federal income tax, including when
the portfolio manager believes acceptable California municipal obligations are
not available for investment.
Principal Risks
An investment in the fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation (FDIC) or any other government agency. 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.

The fund's yield will fluctuate as the short-term securities in its portfolio
mature and the proceeds are reinvested in securities with different interest
rates. Additionally, while the fund has maintained a constant share price since
inception, and will continue to try to do so, neither The Dreyfus Corporation
nor its affiliates are required to make a capital infusion, enter into a capital
support agreement or take other actions to prevent the fund's share price from
falling below $1.00. The following are the principal risks that could reduce the
fund's income level and/or share price:

o Interest rate risk. This risk refers to the decline in the prices of
fixed-income securities that may accompany a rise in the overall level of
interest rates. A sharp and unexpected rise in interest rates could cause a
money market fund's share price to drop below a dollar.

o Credit risk. Failure of an issuer to make timely interest or principal
payments, or a decline or perception of a decline in the credit quality of a
security, can cause the security's price to fall, potentially lowering the
fund's share price. Although the fund invests only in high quality debt
securities, any of the fund's holdings could have its credit rating downgraded
or could default. The credit quality of the securities held by the fund can
change rapidly in certain market environments, and the default of a single
holding could have the potential to cause significant deterioration of the
fund's net asset value.

o Liquidity risk. When there is little or no active trading market for specific
types of securities, it can become more difficult to sell the securities at or
near their perceived value. In such a market, the value of such securities may
fall dramatically, potentially lowering the fund's share price, even during
periods of declining interest rates. Also, during such periods, redemptions by a
few large investors in the fund may have a significant adverse effect on the
fund's net asset value and remaining fund shareholders.

o Tax risk. To be tax-exempt, municipal obligations generally must meet certain
regulatory requirements. If any such municipal obligation fails to meet these
regulatory requirements, the interest received by the fund from its investment
in such obligations and distributed to fund shareholders will be taxable.

o Structured notes risk. Structured notes, a type of derivative instrument, can
be volatile, and the possibility of default by the financial institution or
counterparty may be greater for these instruments than for other types of money
market instruments. Structured notes typically are purchased in privately
negotiated transactions from financial institutions and, thus, an active trading
market for such instruments may not exist.

o State-specific risk. The fund is subject to the risk that California's
economy, and the revenues underlying its municipal obligations, may decline.
Investing primarily in a single state makes the fund more sensitive to risks
specific to the state and may magnify other risks.

o Non-diversification risk. The fund is non-diversified, which means that the
fund may invest a relatively high percentage of its assets 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 group of issuers and more susceptible
to risks associated with a single economic, political or regulatory occurrence
than a diversified fund.
Performance
The following bar chart and table provide some indication of the risks of
investing in the fund. The table shows the average annual total returns of
the fund's shares over time. The fund's past performance (before and after
taxes) is no guarantee of future results. More recent performance
information may be available at www.dreyfus.com.
The bar chart shows changes in the performance of the fund's shares from year
to year.
Year-by-Year Total Returns as of 12/31 each year (%)
Bar Chart
Best Quarter                 
Q3, 2007: 0.83%              
Worst Quarter                
Q3, 2011: 0.00%              

The fund's year-to-date total return as of 9/30/12 was 0.00%.
Average Annual Total Returns as of 12/31/11
Average Annual Total Returns
1 Year
5 Years
10 Years
Dreyfus BASIC California Municipal Money Market Fund
none 1.07% 1.26%
For the fund's current yield, call toll free 1-800-DREYFUS (inside the U.S. only).
[1] Shareholder transaction fees are not charged if you have been a fund shareholder since May 8, 1996.