N-Q 1 form-264.htm QUARTERLY SCHEDULE form-264
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 811-3954 
Dreyfus Tax Exempt Cash Management 
(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) 
 
Mark N. Jacobs, 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:    1/31 
Date of reporting period:    10/31/06 

FORM N-Q

Item 1. Schedule of Investments.

STATEMENT OF INVESTMENTS
Dreyfus Tax Exempt Cash Management
October 31, 2006 (Unaudited)
    Coupon        Maturity    Principal     
Short-Term Investments--101.1%    Rate (%)        Date    Amount ($)    Value ($) 
Alabama--1.3%                     
Columbia Industrial Development                     
Board, PCR, Refunding                     
(Alabama Power Company Project)        3.64    11/1/06    13,500,000 a    13,500,000 
Homewood Educational Building                     
Authority, Educational                     
Facilities Revenue (Samford                     
University) (Insured; AMBAC                     
and Liquidity Facility; Bank                     
of Nova Scotia)        3.60    11/1/06    13,225,000 a    13,225,000 
Mobile Industrial Development                     
Board, PCR, Refunding (Alabama                     
Power Company Project)        3.62    11/7/06    12,000,000 a    12,000,000 
 
Arizona--1.6%                     
ABN AMRO Munitops Certificate                     
Trust, Sales Tax Revenue                     
(Civic Plaza Expansion                     
Project) (Insured; FGIC and                     
Liquidity Facility; ABN-AMRO)        3.60    11/7/06    13,700,000 a,b    13,700,000 
Arizona Health Facilities                     
Authority, Revenue (La Loma                     
Village) (LOC; Citibank NA)        3.61    11/7/06    7,000,000 a    7,000,000 
Phoenix Civic Improvement                     
Corporation, Excise Tax                     
Revenue (Putters Program)                     
(Insured; FGIC and Liquidity                     
Facility; PB Capital Finance)        3.61    11/7/06    8,270,000 a,b    8,270,000 
Phoenix Civic Improvement                     
Corporation, Water System                     
Revenue (Insured; MBIA and                     
Liquidity Facility; Merrill                     
Lynch)        3.60    11/7/06    19,880,000 a,b    19,880,000 
 
Arkansas--.3%                     
Benton County Public Facilities                     
Board, College Parking                     
Facility Revenue (NorthWest                     
Arkansas Community College                     
Project) (LOC; Regions Bank)        3.58    11/7/06    8,250,000 a    8,250,000 
 
Colorado--1.9%                     
ABN AMRO Munitops Certificate                     
Trust, Revenue (Denver City                     
and County Airport) (Insured;                     
XLCA and Liquidity Facility;                     
ABN-AMRO)        3.61    11/7/06    22,345,000 a,b    22,345,000 

Morgan Keegan Municipal Products                 
Inc., Revenue (Liquidity                 
Facility; BNP Paribas)    3.60    11/7/06    13,140,000 a,b    13,140,000 
Southern Ute Indian Tribe of the                 
Southern Ute Indian                 
Reservation, Revenue    3.63    11/7/06    21,000,000 a    21,000,000 
 
Delaware--.7%                 
Delaware Economic Development                 
Authority, MFHR (School House                 
Project) (LOC; HSBC Bank USA)    3.80    11/7/06    13,500,000 a    13,500,000 
Delaware Economic Development                 
Authority, Revenue                 
(Connections CSP Project)                 
(LOC; Mercantile-Safe Deposit                 
and Trust Company)    3.61    11/7/06    7,035,000 a    7,035,000 
 
Florida--7.7%                 
Broward County,                 
Sales Tax Revenue, CP                 
(Liquidity Facility; Dexia                 
Credit Locale)    3.60    12/8/06    10,000,000    10,000,000 
Gainesville,                 
Utilities System Revenue                 
(Liquidity Facility; SunTrust                 
Bank)    3.62    11/1/06    27,500,000 a    27,500,000 
Gulf Breeze,                 
Revenue (Local Government Loan             
Program) (Insured; FGIC and                 
Liquidity Facility; Dexia                 
Credit Locale)    3.70    12/1/06    4,090,000    4,090,000 
Jacksonville Electric Authority,                 
CP (Liquidity Facility;                 
JPMorgan Chase Bank)    3.52    11/9/06    14,424,000    14,424,000 
JEA,                 
Electric System Revenue, CP                 
(Liquidity Facility;                 
Landesbank Hessen-Thuringen                 
Girozentrale)    3.67    11/16/06    20,000,000    20,000,000 
JEA,                 
Electric System Revenue, CP                 
(Liquidity Facility;                 
Landesbank Hessen-Thuringen                 
Girozentrale)    3.67    11/16/06    5,000,000    5,000,000 
JEA,                 
Electric System Revenue, CP                 
(Liquidity Facility;                 
Landesbank Hessen-Thuringen                 
Girozentrale)    3.58    1/17/07    10,300,000    10,300,000 
Martin County,                 
PCR, Refunding (Florida Power                 
and Light Company Project)    3.69    11/1/06    60,000,000 a    60,000,000 
Orange County Health Facilities                 
Authority, Revenue, CP (LOC;                 

SunTrust Bank)    3.69    11/30/06    10,000,000    10,000,000 
Palm Beach County Educational                 
Facilities Authority,                 
Educational Facilities Revenue                 
(Palm Beach Atlantic College,                 
Inc. Project) (LOC; Bank of                 
America)    3.59    11/7/06    11,500,000 a    11,500,000 
Sunshine State Governmental                 
Financing Commission, Revenue,                 
CP (Liquidity Facility; Bank                 
of Nova Scotia)    3.58    11/7/06    7,945,000    7,945,000 
Sunshine State Governmental                 
Financing Commission, Revenue,                 
CP (Liquidity Facility; DEPFA                 
Bank PLC)    3.60    11/13/06    15,660,000    15,660,000 
Sunshine State Governmental                 
Financing Commission, Revenue,                 
CP (Liquidity Facility; DEPFA                 
Bank PLC)    3.58    12/6/06    14,890,000    14,890,000 
Sunshine State Governmental                 
Financing Commission, Revenue,                 
CP (Liquidity Facility; DEPFA                 
Bank PLC)    3.56    1/11/07    10,000,000    10,000,000 
Tampa,                 
Educational Facilities Revenue                 
(Trinity School for Children                 
Project) (LOC; Regions Bank)    3.59    11/7/06    5,120,000 a    5,120,000 
Volusia County Educational                 
Facilities Authority,                 
Educational Facilities Revenue                 
(Embry-Riddle Aeronautical                 
University, Inc. Project)                 
(Insured; Radian Bank and                 
Liquidity Facility; Citibank                 
NA)    3.61    11/7/06    5,645,000 a,b    5,645,000 
 
Georgia--6.4%                 
Atlanta,                 
Airport General Revenue,                 
Refunding (Hartsfield                 
International Airport)                 
(Insured; MBIA and Liquidity                 
Facility; Bayerische                 
Landesbank)    3.60    11/7/06    65,330,000 a    65,330,000 
Fulton County,                 
GO Notes, TAN    4.00    12/29/06    30,000,000    30,021,790 
Fulton County Housing Authority,                 
MFHR (LOC; FHLMC and Liquidity             
Facility; FHLMC)    3.61    11/7/06    40,365,000 a,b    40,365,000 
Municipal Electric Authority of                 
Georgia, CP (LOC: Bayerische                 
Landesbank, Wachovia Bank and                 
Westdeutsche Landesbank)    3.60    4/12/07    30,000,000    30,000,000 
Municipal Electric Authority of                 

Georgia, CP (LOC; JPMorgan                 
Chase Bank)    3.52    11/8/06    9,800,000    9,800,000 
Municipal Electric Authority of                 
Georgia, CP (LOC; Landesbank                 
Hessen-Thuringen Girozentrale)    3.60    12/8/06    16,050,000    16,050,000 
 
Hawaii--.5%                 
Hawaii Department of Budget and                 
Finance, Special Purpose                 
Revenue (Hawaii Pacific Health                 
Obligated Group) (Insured;                 
Radian Bank and Liquidity                 
Facility; Bank of Nova Scotia)    3.68    11/7/06    14,500,000 a    14,500,000 
 
Idaho--.9%                 
Idaho Health Facilities Authority,                 
Revenue (Saint Lukes Regional                 
Medical Center Project)                 
(Insured; FSA and Liquidity                 
Facility; Bank of Montreal)    3.64    11/1/06    23,530,000 a    23,530,000 
Idaho Housing and Finance                 
Association, Nonprofit                 
Facilities Revenue (Albertson                 
College of Idaho Project)                 
(LOC; Key Bank)    3.59    11/7/06    4,250,000 a    4,250,000 
 
Illinois--1.6%                 
Chicago O'Hare International                 
Airport, General Airport Third                 
Lien Revenue (Insured; FGIC                 
and Liquidity Facility; PB                 
Finance Inc.)    3.61    11/7/06    5,115,000 a,b    5,115,000 
Illinois,                 
GO Notes (Merlots Program)                 
(Insured; FSA and Liquidity                 
Facility; Wachovia Bank)    3.60    11/7/06    16,890,000 a,b    16,890,000 
Illinois,                 
GO Notes (Merlots Program)                 
(Insured; MBIA and Liquidity                 
Facility; Wachovia Bank)    3.60    11/7/06    9,945,000 a,b    9,945,000 
Regional Transportation Authority,                 
GO Notes (Merlots Program)                 
(Insured; MBIA and Liquidity                 
Facility; Wachovia Bank)    3.60    11/7/06    10,100,000 a,b    10,100,000 
Roaring Fork Municipal Products                 
LLC (Chicago, Second Lien                 
Water Revenue) (Insured; AMBAC             
and Liquidity Facility; The                 
Bank of New York)    3.63    11/7/06    6,460,000 a,b    6,460,000 
 
Indiana--2.8%                 
Hamilton Southeastern School,                 
Temporary Loan Warrants    4.25    12/29/06    16,100,000    16,123,572 
Indiana Health Facility Financing                 

Authority, Revenue (Ascension                 
Health Credit Group)    3.55    6/1/07    14,000,000    14,000,000 
Indianapolis Local Public                 
Improvement Bond Bank, Notes    4.50    1/4/07    5,850,000    5,856,632 
Indianapolis Local Public                 
Improvement Bond Bank, Notes    4.50    1/4/07    35,000,000    35,039,680 
Merrillville Community School                 
Corporation, Warrants    4.25    12/29/06    12,800,000    12,818,691 
 
Iowa--1.7%                 
Iowa Finance Authority,                 
Wellness Facility Revenue                 
(Community Y of Marshalltown                 
Project) (LOC; Bank of America)    3.57    11/7/06    11,395,000 a    11,395,000 
Louisa County,                 
PCR, Refunding (Midwest Power                 
Systems Inc. Project)    3.68    11/7/06    27,900,000 a    27,900,000 
Tobacco Settlement Authority of                 
Iowa, Tobacco Settlement                 
Asset-Backed Bonds (Liquidity                 
Facility; Citibank NA)    3.61    11/7/06    11,810,000 a,b    11,810,000 
 
Kentucky--.9%                 
Public Energy Authority of Kentucky, Inc.             
Gas Supply Revenue (Liquidity                 
Facility; Societe Generale)    3.65    11/1/06    27,500,000 a    27,500,000 
 
Louisiana--2.6%                 
Louisiana Municipal Natural Gas                 
Purchasing and Distribution                 
Authority, Revenue (Putters                 
Program) (Gas Project Number                 
1) (Liquidity Facility;                 
JPMorgan Chase Bank and LOC;                 
JPMorgan Chase Bank)    3.62    11/7/06    29,000,000 a,b    29,000,000 
Louisiana Public Facilities                 
Authority, HR (Liquidity                 
Facility; Merrill Lynch)    3.62    11/7/06    34,045,000 a,b    34,045,000 
Louisiana Public Facilities                 
Authority, Revenue (Comm-Care                 
Louisiana Project) (LOC;                 
JPMorgan Chase Bank)    3.58    11/7/06    6,000,000 a    6,000,000 
Tobacco Settlement Financing                 
Corporation of Louisiana,                 
Tobacco Settlement                 
Asset-Backed Bonds (Liquidity                 
Facility; Merrill Lynch)    3.65    11/7/06    9,115,000 a,b    9,115,000 
 
Maryland--.4%                 
Frederick County,                 
Revenue, Refunding                 
(Manekin-Frederick Associates                 
Facility) (LOC; M&T Bank)    3.68    11/7/06    2,840,000 a    2,840,000 
Maryland Economic Development                 

Corporation, Revenue (Legal                 
Aid Bureau Inc. Facility)                 
(LOC; M&T Bank)    3.63    11/7/06    2,475,000 a    2,475,000 
Montgomery County,                 
EDR (Riderwood Village, Inc.                 
Project) (LOC; M&T Bank)    3.60    11/7/06    6,000,000 a    6,000,000 
 
Massachusetts--2.8%                 
Massachusetts Development Finance             
Agency, Revenue (Lesley                 
University Issue) (LOC; Bank                 
of America)    3.62    11/7/06    7,300,000 a    7,300,000 
Massachusetts Development Finance             
Agency, Revenue (Northfield                 
Mount Hermon School Issue)                 
(Insured; Radian Bank and                 
Liquidity Facility; Bank of                 
America)    3.65    11/7/06    15,000,000 a    15,000,000 
Massachusetts Development Finance             
Agency, Revenue (Suffolk                 
University Issue) (Insured;                 
Radian Bank and Liquidity                 
Facility: Bank of America and                 
State Street Bank and Trust                 
Co.)    3.65    11/7/06    30,200,000 a    30,200,000 
Massachusetts Development Finance             
Agency, Revenue (Wentworth                 
Institute of Technology, Inc.                 
Issue) (Insured; Radian Bank                 
and Liquidity Facility; Bank                 
of America)    3.65    11/7/06    17,900,000 a    17,900,000 
Massachusetts Health and                 
Educational Facilities                 
Authority, Revenue (Cape Cod                 
Healthcare Obligated Group                 
Issue) (Insured; Assured                 
Guaranty and Liquidity                 
Facility; Bank of America)    3.60    11/7/06    15,000,000 a    15,000,000 
 
Michigan--5.5%                 
Detroit,                 
GO Notes, TAN (LOC; Scotia                 
Bank)    4.50    3/1/07    11,945,000    11,974,480 
Detroit,                 
Sewage Disposal Revenue                 
(Merlots Program) (Insured;                 
FGIC and Liquidity Facility;                 
Wachovia Bank)    3.60    11/7/06    22,030,000 a,b    22,030,000 
Detroit Downtown Development                 
Authority, LR, Refunding                 
(Millender Center Project)                 
(LOC; HSBC Bank USA)    3.75    11/7/06    17,200,000 a    17,200,000 
Detroit Water Supply System,                 
Water Revenue (Merlots                 

Program) (Insured; MBIA and                 
Liquidity Facility; Wachovia                 
Bank)    3.60    11/7/06    10,475,000 a,b    10,475,000 
Eastern Michigan University Board                 
of Regents, General Revenue,                 
Refunding (Insured; FGIC and                 
Liquidity Facility; Dexia                 
Credit Locale)    3.64    11/1/06    12,515,000 a    12,515,000 
Eastern Michigan University Board                 
of Regents, General Revenue,                 
Refunding (Insured; XLCA and                 
Liquidity Facility; Dexia                 
Credit Locale)    3.64    11/1/06    24,975,000 a    24,975,000 
Michigan Higher Education                 
Facilities Authority, Revenue,                 
Refunding (Walsh College                 
Project) (LOC; Commerce Bank)    3.61    11/7/06    10,195,000 a    10,195,000 
Michigan Hospital Finance                 
Authority, Revenue (Healthcare                 
Equipment Loan Program) (LOC;                 
Fifth Third Bank)    3.62    11/7/06    10,000,000 a    10,000,000 
Michigan Hospital Finance                 
Authority, Revenue (Healthcare                 
Equipment Loan Program) (LOC;                 
Fifth Third Bank)    3.62    11/7/06    15,000,000 a    15,000,000 
Michigan Hospital Finance                 
Authority, Revenue (Healthcare                 
Equipment Loan Program) (LOC;                 
Fifth Third Bank)    3.62    11/7/06    1,900,000 a    1,900,000 
Michigan Hospital Finance                 
Authority, Revenue (Healthcare                 
Equipment Loan Program) (LOC;                 
Fifth Third Bank)    3.62    11/7/06    4,800,000 a    4,800,000 
Michigan Hospital Finance                 
Authority, Revenue (Healthcare                 
Equipment Loan Program) (LOC;                 
Fifth Third Bank)    3.62    11/7/06    7,500,000 a    7,500,000 
Michigan Hospital Finance                 
Authority, Revenue (Healthcare                 
Equipment Loan Program) (LOC;                 
Fifth Third Bank)    3.62    11/7/06    7,500,000 a    7,500,000 
Waterford Township Economic                 
Development Corporation, LOR,                 
Refunding (Canterbury Health                 
Care Inc. Project) (LOC; KBC                 
Bank)    3.61    11/7/06    11,000,000 a    11,000,000 
 
Minnesota--1.4%                 
Oak Park Heights,                 
MFHR, Refunding (Boutwells                 
Landing Project) (LOC; FHLMC                 
and Liquidity Facility; FHLMC)    3.59    11/7/06    12,000,000 a    12,000,000 
Southern Minnesota Municipal Power                 
Agency, Power Supply System                 

Revenue, CP (Liquidity                 
Facility; Landesbank                 
Hessen-Thuringen Girozentrale)    3.65    11/30/06    30,000,000    30,000,000 
 
Mississippi--.2%                 
Mississippi Business Finance                 
Corporation, Revenue (Outback                 
98 West CC, LLC Project) (LOC;                 
First Tennessee Bank N.A.)    3.59    11/7/06    5,600,000 a    5,600,000 
 
Missouri--.3%                 
Saint Louis,                 
General Fund Revenue, TRAN    4.50    6/29/07    10,000,000    10,047,532 
 
Nebraska--1.2%                 
Lancaster County Hospital                 
Authority Number 1, Health                 
Facilities Revenue (Immanuel                 
Health Systems-Williamsburg                 
Project) (LOC; ABN-AMRO)    3.65    11/1/06    1,700,000 a    1,700,000 
Nebhelp Inc.,                 
Revenue (Insured; MBIA and                 
Liquidity Facility; Lloyds TSB                 
Bank PLC)    3.63    11/7/06    11,780,000 a    11,780,000 
Nebraska Educational Finance                 
Authority, Revenue (Creighton                 
University Project) (Insured;                 
FGIC and Liquidity Facility;                 
JPMorgan Chase Bank)    3.64    11/1/06    12,100,000 a    12,100,000 
Scotts Bluff County Hospital                 
Authority Number 1, HR,                 
Refunding (Regional West                 
Medical Center) (Insured;                 
Radian and Liquidity Facility;                 
Key Bank)    3.60    11/7/06    10,000,000 a    10,000,000 
 
Nevada--1.2%                 
Clark County,                 
Highway Revenue, CP (Motor                 
Vehicle Fuel Tax) (LOC;                 
Landesbank Hessen-Thuringen                 
Girozentrale)    3.65    11/16/06    17,500,000    17,500,000 
Clark County School District,                 
GO Notes (Merlots Program)                 
(Insured; FSA and Liquidity                 
Facility; Wachovia Bank)    3.60    11/7/06    9,905,000 a,b    9,905,000 
Clark County School District,                 
GO Notes (Putters Program)                 
(Insured; FSA and Liquidity                 
Facility; PB Capital Finance)    3.61    11/7/06    6,945,000 a,b    6,945,000 
Las Vegas Valley Water District,                 
CP (LOC: BNP Paribas and                 
Lloyds TSB Bank PLC)    3.60    1/17/07    3,000,000    3,000,000 

New Hampshire--.3%                 
New Hampshire Health and Education             
Facilities Authority, HR                 
(Catholic Medical Center                 
Issue) (LOC; Citizens Bank of                 
Massachusetts)    3.58    11/7/06    9,395,000 a    9,395,000 
 
New York--1.8%                 
Metropolitan Transportation                 
Authority, Dedicated Tax Fund,                 
Refunding (Insured; XLCA and                 
Liquidity Facility; Citibank                 
NA)    3.56    11/7/06    20,000,000 a    20,000,000 
New York Counties Tobacco Trust I,                 
Revenue (Liquidity Facility;                 
Merrill Lynch and LOC; Merrill                 
Lynch)    3.61    11/7/06    6,930,000 a,b    6,930,000 
Tobacco Settlement Financing                 
Corporation of New York, Asset                 
Backed Revenue Bonds (State                 
Contingency Contract Secured)                 
(Liquidity Facility; DEPFA                 
Bank PLC)    3.61    11/7/06    17,495,000 a,b    17,495,000 
Tobacco Settlement Financing                 
Corporation of New York,                 
Revenue (Liquidity Facility:                 
Landesbank Hessen-Thuringen                 
Girozentrale and Merril Lynch)    3.61    11/7/06    10,000,000 a,b    10,000,000 
 
North Carolina--.5%                 
North Carolina Eastern Municipal                 
Power Agency, Power System                 
Revenue, Refunding (Insured;                 
MBIA)    7.00    1/1/07    3,250,000    3,267,225 
North Carolina Medical Care                 
Commission, Health Care                 
Facilities Revenue (Person                 
Memorial Hospital) (LOC;                 
Branch Banking and Trust Co.)    3.59    11/1/06    12,000,000 a    12,000,000 
 
Ohio--4.4%                 
Akron Bath Copley Joint Township                 
Hospital District, Health Care                 
Facilities Revenue (Sumner                 
Project) (LOC; KBC Bank)    3.59    11/7/06    5,300,000 a    5,300,000 
Cincinnati School District,                 
GO Notes (Putters Program)                 
(Insured; FSA and Liquidity                 
Facility; PB Capital Finance)    3.61    11/7/06    6,845,000 a,b    6,845,000 
Cleveland-Cuyahoga County Port                 
Authority, Revenue, Refunding                 
(Judson Project) (LOC;                 
National City Bank)    3.61    11/7/06    11,505,000 a    11,505,000 
Cuyahoga County,                 

HR, Refunding (Metrohealth                 
System Project) (LOC; National                 
City Bank)    3.60    11/7/06    10,000,000 a    10,000,000 
Franklin County,                 
Health Care Facilities                 
Refunding and Improvement                 
Revenue (Ohio Presbyterian                 
Retirement Services) (Insured;                 
Radian Group and Liquidity                 
Facility; National City Bank)    3.60    11/7/06    12,000,000 a    12,000,000 
Franklin County,                 
Health Care Facilities Revenue                 
(Creekside at the Village                 
Project) (LOC; Key Bank)    3.59    11/7/06    7,250,000 a    7,250,000 
Hamilton County,                 
Hospital Facilities Revenue                 
(Christ Hospital) (Insured;                 
FSA and Liquidity Facility;                 
Svenska Handelsbanken)    3.64    11/7/06    45,000,000 a,b    45,000,000 
Ohio Higher Education Facility,                 
Revenue (Ashland University                 
Project) (LOC; Key Bank)    3.61    11/7/06    4,800,000 a    4,800,000 
University of Toledo,                 
General Receipts (Insured;                 
FGIC and Liquidity Facility;                 
U.S. Bank NA)    3.64    11/1/06    28,615,000 a    28,615,000 
 
Oklahoma--.4%                 
Oklahoma Water Resources Board,                 
State Loan Program Revenue                 
(Liquidity Facility; Bank of                 
America)    3.51    4/1/07    5,000,000    5,000,000 
Oklahoma Water Resources Board,                 
State Loan Program Revenue                 
(Liquidity Facility; Lloyds                 
TSB Bank PLC)    3.58    3/1/07    3,450,000    3,450,000 
Oklahoma Water Resources Board,                 
State Loan Program Revenue                 
(Liquidity Facility; State                 
Street Bank and Trust Co.)    3.51    4/1/07    3,000,000    3,000,000 
 
Oregon--.8%                 
Oregon,                 
Homeowner Revenue (Liquidity                 
Facility; Landesbank                 
Hessen-Thuringen Girozentrale                 
and LOC; Trinity Funding Group)    3.61    11/7/06    9,260,000 a,b    9,260,000 
Salem Hospital Facility Authority,                 
Revenue (Capital Manor, Inc.                 
Project) (LOC; Bank of America)    3.61    11/7/06    5,670,000 a    5,670,000 
Salem Hospital Facility Authority,                 
Revenue, Refunding (Capital                 
Manor Inc. Project) (LOC; Bank                 
of America)    3.61    11/7/06    9,150,000 a    9,150,000 

Pennsylvania--17.6%                 
Bethlehem Area School District,                 
GO Notes (Insured; FSA and                 
Liquidity Facility; Dexia                 
Credit Locale)    3.59    11/7/06    39,995,000 a    39,995,000 
Chester County Health and                 
Educational Facilities                 
Authority, Retirement                 
Community Revenue                 
(Kendal-Crosslands Communities                 
Project) (LOC; Allied Irish                 
Bank)    3.59    11/7/06    5,605,000 a    5,605,000 
Chestnut Ridge School District,                 
GO (Insured; FSA and Liquidity                 
Facility; Dexia Credit Locale)    3.59    11/7/06    10,875,000 a    10,875,000 
Cumberland County Municipal                 
Authority, Revenue, Refunding                 
(Wesley Affiliated Services,                 
Inc. Obligated Group) (LOC;                 
KBC Bank)    3.59    11/7/06    8,000,000 a    8,000,000 
Dauphin County General Authority,                 
Revenue (Insured; FSA and                 
Liquidity Facility: Bank of                 
Nova Scotia and KBC Bank)    3.59    11/7/06    65,100,000 a    65,100,000 
Dauphin County General Authority,                 
Revenue (Insured; FSA and                 
Liquidity Facility: Bank of                 
Nova Scotia and KBC Bank)    3.59    11/7/06    14,010,000 a    14,010,000 
Dauphin County General Authority,                 
Revenue (School District                 
Pooled Financing Program II)                 
(Insured; AMBAC and Liquidity                 
Facility; Bank of Nova Scotia)    3.61    11/7/06    90,465,000 a    90,465,000 
Emmaus General Authority,                 
Local Government Revenue (GIC;                 
Goldman Sachs and Co.)    3.62    11/7/06    10,000,000 a    10,000,000 
Emmaus General Authority,                 
Local Government Revenue (GIC;                 
Goldman Sachs and Co.)    3.62    11/7/06    14,500,000 a    14,500,000 
Emmaus General Authority,                 
Local Government Revenue (LOC;                 
DEPFA Bank PLC)    3.62    11/7/06    7,900,000 a    7,900,000 
Emmaus General Authority,                 
Local Government Revenue (LOC;                 
DEPFA Bank PLC)    3.62    11/7/06    8,000,000 a    8,000,000 
Emmaus General Authority,                 
Local Government Revenue (LOC;                 
DEPFA Bank PLC)    3.62    11/7/06    4,800,000 a    4,800,000 
Emmaus General Authority,                 
Local Government Revenue (LOC;                 
DEPFA Bank PLC)    3.62    11/7/06    10,600,000 a    10,600,000 
Emmaus General Authority,                 
Local Government Revenue (LOC;                 

DEPFA Bank PLC)    3.62    11/7/06    13,000,000 a    13,000,000 
Emmaus General Authority,                 
Local Government Revenue (LOC;                 
DEPFA Bank PLC)    3.62    11/7/06    5,000,000 a    5,000,000 
Emmaus General Authority,                 
Local Government Revenue (LOC;                 
DEPFA Bank PLC)    3.62    11/7/06    11,900,000 a    11,900,000 
Emmaus General Authority,                 
Local Government Revenue (LOC;                 
DEPFA Bank PLC)    3.62    11/7/06    19,900,000 a    19,900,000 
Emmaus General Authority,                 
Local Government Revenue (LOC;                 
DEPFA Bank PLC)    3.62    11/7/06    5,000,000 a    5,000,000 
Emmaus General Authority,                 
Local Government Revenue                 
(LOC; Goldman Sachs and Co.)    3.62    11/7/06    13,075,000 a    13,075,000 
Fayette County Hospital Authority,                 
Revenue, Refunding (Mount                 
Macrina Manor Project) (LOC;                 
National City Bank)    3.59    11/7/06    3,725,000 a    3,725,000 
Harrisburg Authority,                 
Water Revenue, Refunding                 
(Insured; FGIC and Liquidity                 
Facility; FGIC)    3.61    11/7/06    14,405,000 a    14,405,000 
Lancaster County,                 
GO Notes (Insured; FSA and                 
Liquidity Facility; Royal Bank                 
of Canada)    3.59    11/7/06    20,205,000 a    20,205,000 
Lancaster County Hospital                 
Authority, Health Center                 
Revenue (Luthercare Project)                 
(LOC; M&T Bank)    3.61    11/7/06    14,180,000 a    14,180,000 
Lebanon County Health Facilities                 
Authority, Revenue (Cornwall                 
Manor Project) (Insured;                 
Radian Bank and Liquidity                 
Facility; Bank of America)    3.64    11/7/06    5,510,000 a    5,510,000 
Lehigh County General Purpose                 
Authority, HR (Saint Luke's                 
Hospital of Bethlehem,                 
Pennsylvania Project) (LOC;                 
Wachovia Bank)    3.60    11/1/06    4,530,000 a    4,530,000 
Montgomery County Higher Education                 
and Health Authority, School                 
Revenue (William Penn Charter                 
School) (LOC; PNC Bank)    3.59    11/7/06    10,420,000 a    10,420,000 
Pennsylvania Higher Educational                 
Facilities Authority, Student                 
Housing Revenue (Washington                 
and Jefferson Development)                 
(LOC; Unicredito Italiano SPA)    3.59    11/7/06    8,000,000 a    8,000,000 
Philadelphia School District,                 
GO Notes, TRAN (LOC; Bank of                 
America)    4.50    6/29/07    14,500,000    14,566,101 

Schuylkill County,                 
GO Notes (Insured; AMBAC and             
Liquidity Facility; Wachovia                 
Bank)    3.61    11/7/06    6,420,000 a    6,420,000 
Spring Grove Area School District,                 
GO Notes (Insured; FSA and                 
Liquidity Facility; Dexia                 
Credit Locale)    3.59    11/7/06    17,495,000 a    17,495,000 
Spring Grove Area School District,                 
GO Notes (Insured; FSA and                 
Liquidity Facility; Dexia                 
Credit Locale)    3.59    11/7/06    20,000,000 a    20,000,000 
West Cornwall Township Municipal                 
Authority, GO Notes, Refunding             
(Bethlehem Area School                 
District Project) (Insured;                 
FSA and Liquidity Facility;                 
Dexia Credit Locale)    3.59    11/7/06    28,500,000 a    28,500,000 
West Cornwall Township Municipal                 
Authority, Revenue                 
(Pennsylvania General                 
Government Loan Program)                 
(Insured; FSA and Liquidity                 
Facility; Dexia Credit Locale)    3.59    11/7/06    3,482,000 a    3,482,000 
 
South Carolina--.5%                 
Greer,                 
Combined Utilities System                 
Revenue (Merlots Program)                 
(Insured; AMBAC and Liquidity                 
Facility; Wachovia Bank)    3.60    11/7/06    8,300,000 a,b    8,300,000 
South Carolina Jobs Economic                 
Development Authority, Health                 
Facilities Revenue, Refunding                 
(Episcopal Church Home)                 
(Insured; Radian Bank and                 
Liquidity Facility; Wachovia                 
Bank)    3.60    11/7/06    6,920,000 a    6,920,000 
 
Tennessee--8.5%                 
Blount County Public Building                 
Authority, Local Government                 
Public Improvement Revenue                 
(Insured; AMBAC and Liquidity                 
Facility; Landesbank                 
Baden-Wurttemberg)    3.65    11/1/06    3,045,000 a    3,045,000 
Blount County Public Building                 
Authority, Local Government                 
Public Improvement Revenue                 
(Insured; AMBAC and Liquidity                 
Facility; Regions Bank)    3.58    11/7/06    3,725,000 a    3,725,000 
Blount County Public Building                 
Authority, Local Government                 
Public Improvement Revenue                 

(Insured; AMBAC and Liquidity                 
Facility; Regions Bank)    3.58    11/7/06    5,000,000 a    5,000,000 
Blount County Public Building                 
Authority, Local Government                 
Public Improvement Revenue                 
(Insured; AMBAC and Liquidity                 
Facility; Regions Bank)    3.58    11/7/06    6,500,000 a    6,500,000 
Claiborne County Industrial                 
Development Board, Revenue                 
(Lincoln Memorial University                 
Project) (LOC; Amsouth Bank)    3.61    11/7/06    9,000,000 a    9,000,000 
Knoxville,                 
Wastewater Systems Revenue                 
(Putters Program) (Insured;                 
MBIA and Liquidity Facility;                 
PB Finance Inc.)    3.61    11/7/06    8,085,000 a,b    8,085,000 
Sevier County Public Building                 
Authority, Local Government                 
Public Improvement Revenue                 
(Insured; AMBAC and Liquidity                 
Facility; KBC Bank)    3.58    11/7/06    7,395,000 a    7,395,000 
Sevier County Public Building                 
Authority, Local Government                 
Public Improvement Revenue                 
(Insured; AMBAC and Liquidity                 
Facility; Landesbank                 
Hessen-Thuringen Girozentrale)    3.58    11/7/06    7,485,000 a    7,485,000 
Sevier County Public Building                 
Authority, Local Government                 
Public Improvement Revenue                 
(Insured; AMBAC and Liquidity                 
Facility; Landesbank                 
Hessen-Thuringen Girozentrale)    3.58    11/7/06    10,000,000 a    10,000,000 
Sevier County Public Building                 
Authority, Local Government                 
Public Improvement Revenue                 
(Insured; XLCA and Liquidity                 
Facility; DEPFA Bank PLC)    3.65    11/1/06    9,400,000 a    9,400,000 
Tennergy Corporation,                 
Gas Revenue (Putters Program)                 
(Liquidity Facility; JPMorgan                 
Chase Bank)    3.62    11/7/06    25,000,000 a,b    25,000,000 
Tennergy Corporation,                 
Gas Revenue (Putters Program)                 
(LOC; BNP Paribas)    3.61    11/7/06    92,725,000 a,b    92,725,000 
Tennessee Energy Acquisition                 
Corporation, Gas Project                 
Revenue (Liquidity Facility;                 
Goldman Sachs Group and LOC;             
Goldman Sachs Group)    3.61    11/7/06    50,000,000 a,b    50,000,000 
Tennessee Energy Acquisition                 
Corporation, Gas Project                 
Revenue (Merlots Program)                 
(Liquidity Facility; The Bank                 

of New York)    3.60    11/7/06    20,000,000 a,b    20,000,000 
 
Texas--13.2%                 
ABN AMRO Munitops Certificates                 
Trust, Water Revenue (Tarrant                 
Regional Water District)                 
(Insured; FGIC and Liquidity                 
Facility; ABN-AMRO)    3.61    11/7/06    10,260,000 a,b    10,260,000 
Dallas,                 
Airport System Revenue                 
(Insured; AMBAC)    5.00    4/1/07    6,000,000    6,035,938 
Dallas Area Rapid Transit,                 
Transportation Revenue                 
(Merlots Program) (Insured:                 
AMBAC and FGIC and Liquidity                 
Facility; Wachovia Bank)    3.60    11/7/06    24,060,000 a,b    24,060,000 
Harris County,                 
GO Notes, TAN    4.50    2/28/07    7,300,000    7,318,718 
Harris County Health Facilities                 
Development Corporation,                 
Revenue (Saint Luke's                 
Episcopal Hospital) (Liquidity                 
Facility: Bank of America,                 
Bayerische Landesbank,                 
JPMorgan Chase Bank, Northern                 
Trust Co. and Saint Lukes Hospital)    3.65    11/1/06    11,675,000 a    11,675,000 
Harris County Metropolitan                 
Transportation Authority,                 
Sales and Use Tax Revenue, CP                 
(LOC; DEPFA Bank PLC)    3.65    11/1/06    20,000,000    20,000,000 
Houston,                 
Airport System Revenue, CP                 
(LOC; Dexia Credit Locale)    3.58    12/6/06    20,000,000    20,000,000 
Houston,                 
CP (Liquidity Facility; DEPFA                 
Bank PLC)    3.72    11/16/06    35,000,000    35,000,000 
Houston,                 
CP (Liquidity Facility; DEPFA                 
Bank PLC)    3.63    2/6/07    5,000,000    5,000,000 
Lower Colorado River Authority,                 
Revenue, CP (LCRA                 
Transportation Services                 
Corporation) (Liquidity                 
Facility; JPMorgan Chase Bank)    3.50    2/8/07    30,700,000    30,700,000 
Lower Colorado River Authority,                 
Transmission Service                 
Corporation, Revenue, CP (LCRA                 
Transportation Services                 
Corporation) (LOC: JPMorgan                 
Chase Bank, State Street Bank                 
and Trust Co. and Westdeutsche                 
Landesbank)    3.55    12/6/06    11,700,000    11,700,000 
Lower Colorado River Authority,                 
Transmission Service                 

Corporation Revenue, CP (LCRA             
Transportation Services                 
Corporation) (LOC: JPMorgan                 
Chase Bank, State Street Bank                 
and Trust Co. and Westdeutshe                 
Landesbank)    3.59    12/6/06    37,500,000    37,500,000 
North Central Texas Health                 
Facilities Development                 
Corporation, Revenue, CP                 
(Methodist Hospital) (Insured;                 
AMBAC and Liquidity Facility;                 
Dexia Credit Locale)    3.53    2/6/07    24,000,000    24,000,000 
San Antonio,                 
Water Revenue (Merlots                 
Program) (Liquidity Facility;                 
Wachovia Bank)    3.60    11/7/06    10,000,000 a,b    10,000,000 
San Antonio,                 
Water System Revenue, CP                 
(Liquidity Facility; Bank of                 
America)    3.50    12/11/06    20,000,000    20,000,000 
Spring Independent School                 
District, Schoolhouse                 
(Insured; FSA and Liquidity                 
Facility; Dexia Credit Locale)    3.67    8/15/07    5,000,000    5,000,000 
Texas                 
(Liquidity Facility; Merrill                 
Lynch)    3.60    11/7/06    4,145,000 a,b    4,145,000 
Texas Affordable Housing                 
Corporation, MFHR (American                 
Housing Foundation Portfolio)                 
(Insured; MBIA and Liquidity                 
Facility; Branch Banking and                 
Trust Company)    3.60    11/7/06    28,800,000 a,b    28,800,000 
Texas Affordable Housing                 
Corporation, MFHR (American                 
Housing Foundation Portfolio)                 
(Insured; MBIA and Liquidity                 
Facility; Goldman Sachs Group)    3.60    11/7/06    17,800,000 a,b    17,800,000 
Texas Municipal Power Agency,                 
Revenue, CP (Liquidity                 
Facility: Bank of America and                 
Bayerische Landesbank)    3.60    1/22/07    19,830,000    19,830,000 
Texas Public Finance Authority,                 
Revenue CP (Liquidity                 
Facility; Texas Public School)    3.50    12/11/06    25,000,000    25,000,000 
University of Texas,                 
University Revenue, CP    3.60    1/16/07    25,000,000    25,000,000 
 
Utah--.3%                 
Utah Water Finance Agency,                 
Water Revenue (Insured; AMBAC             
and Liquidity Facility;                 
JPMorgan Chase Bank)    3.61    11/7/06    10,000,000 a    10,000,000 

Vermont--1.4%                 
ABN AMRO Munitops Certificate                 
Trust, Revenue (University of                 
Vermont and State Agriculture                 
College) (Insured; MBIA and                 
Liquidity Facility; ABN-AMRO)    3.60    11/7/06    14,995,000 a,b    14,995,000 
Vermont Educational and Health                 
Buildings Financing Agency, HR                 
(Rutland Regional Medical                 
Center Project) (Insured;                 
Radian Group and Liquidity                 
Facility; TD Banknorth N.A.)    3.67    11/1/06    7,530,000 a    7,530,000 
Vermont Educational and Health                 
Buildings Financing Agency, HR                 
(Rutland Regional Medical                 
Center Project) (Insured;                 
Radian Group and Liquidity                 
Facility; TD BankNorth N.A.)    3.67    11/1/06    19,025,000 a    19,025,000 
 
Virginia--2.8%                 
Alexandria Industrial Development                 
Authority, Revenue (Institute                 
for Defense Analyses Project)                 
(Insured; AMBAC and Liquidity                 
Facility; Wachovia Bank)    3.62    11/7/06    13,675,000 a    13,675,000 
Loudoun County Industrial                 
Development Authority,                 
Multi-Modal Revenue (Howard                 
Hughes Medical Institute Issue)    3.64    11/1/06    19,525,000 a    19,525,000 
Norfolk Redevelopment and Housing                 
Authority, First Mortgage                 
Revenue (Fort Norfolk                 
Retirement Community, Inc. -                 
Harbor's Edge Project) (LOC;                 
HSH Nordbank AG)    3.59    11/7/06    20,000,000 a    20,000,000 
Tobacco Settlement Financing                 
Corporation of Virginia,                 
Tobacco Settlement                 
Asset-Backed Bonds (Liquidity                 
Facility; Merrill Lynch)    3.61    11/7/06    7,500,000 a,b    7,500,000 
Virginia Housing Development                 
Authority, Commonwealth                 
Mortgage Revenue    3.70    2/13/07    24,000,000    24,000,000 
 
Washington--2.5%                 
Energy Northwest,                 
Electric Revenue, Refunding                 
(Putters Program) (Insured;                 
AMBAC and Liquidity Facility;                 
PB Finance Inc.)    3.61    11/7/06    5,245,000 a,b    5,245,000 
Washington,                 
GO Notes (Merlots Program)                 
(Insured: FGIC and MBIA and                 
Liquidity Facility; Wachovia                 

Bank)    3.60    11/7/06    20,005,000 a,b    20,005,000 
Washington Health Care Facilities                 
Authority, Revenue (Seattle                 
Cancer Care Alliance) (LOC;                 
Key Bank)    3.59    11/7/06    4,150,000 a    4,150,000 
Washington Higher Education                 
Facilities Authority, Revenue                 
(Saint Martin's College                 
Project) (LOC; U.S. Bank NA)    3.64    11/7/06    6,695,000 a    6,695,000 
Washington Housing Finance                 
Commission, Nonprofit                 
Revenue, Refunding (Horizon                 
House Project) (LOC; Bank of                 
America)    3.59    11/7/06    19,800,000 a    19,800,000 
Washington Housing Finance                 
Commission, Nonprofit Revenue                 
(Wesley Homes Project) (LOC;                 
Bank of America)    3.60    11/1/06    18,800,000 a    18,800,000 
 
Wisconsin--1.2%                 
Badger Tobacco Asset                 
Securitization Corporation,                 
Tobacco Settlement                 
Asset-Backed Bonds (Liquidity                 
Facility: Lloyds TSB Bank PLC                 
and Merrill Lynch)    3.62    11/7/06    5,900,000 a,b    5,900,000 
Wisconsin Health and Educational                 
Facilities Authority, Revenue                 
(Gunderson Lutheran) (Insured;                 
FSA and Liquidity Facility;                 
Dexia Credit Locale)    3.64    11/1/06    15,000,000 a    15,000,000 
Wisconsin Health and Educational                 
Facilities Authority, Revenue                 
(Saint John's Communities,                 
Inc.) (Insured; Radian Bank                 
and Liquidity Facility;                 
Marshall and Ilsley Bank)    3.60    11/7/06    5,700,000 a    5,700,000 
Wisconsin Public Power Inc.,                 
Power Supply System Revenue                 
(Putters Program) (Insured;                 
AMBAC and Liquidity Facility;                 
PB Capital Finance)    3.61    11/7/06    10,380,000 a,b    10,380,000 
 
Wyoming--1.0%                 
Natrona County,                 
HR, Refunding (Wyoming Medical                 
Center Project) (Insured;                 
AMBAC and Liquidity Facility;                 
Bank of Nova Scotia)    3.58    11/7/06    28,700,000 a    28,700,000 
 
 
Total Investments (cost $3,045,361,359)            101.1%    3,045,361,359 
Liabilities, Less Cash and Receivables            (1.1%)    (34,032,473) 

Net Assets        100.0% 3,011,328,886 
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 October 31, 2006, these securities 
    amounted to $763,910,000 or 25.4% 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 
MFHR        Multi-Family Housing Revenue    MFMR    Multi-Family C 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.

Dreyfus Tax Exempt Cash Management

By:    /s/ Stephen E. Canter 
    Stephen E. Canter 
    President 
 
Date:    December 13, 2006 
 
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/ Stephen E. Canter 
    Stephen E. Canter 
    Chief Executive Officer 
 
Date:    December 13, 2006 
 
By:    /s/ James Windels 
    James Windels 
    Chief Financial Officer 
 
Date:    December 13, 2006 
 
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)