N-Q 1 lp1-264.htm FORM N-Q lp1-264.htm - Generated by SEC Publisher for SEC Filing

 

 

 

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 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)

 

 

 

 

 

John Pak, 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:

10/31/13

 

             

 

 

 

 

FORM N-Q

Item 1.                         Schedule of Investments.

                       

 

 
 

STATEMENT OF INVESTMENTS           
Dreyfus Tax Exempt Cash Management           
 
October 31, 2013 (Unaudited)           
 
  Coupon  Maturity  Principal    
Short-Term Investments--100.2%  Rate (%)  Date  Amount ($)   Value ($) 
Alabama--5.2%           
Birmingham,           
GO Notes, Refunding   5.00  2/1/14  3,535,000   3,577,122 
Chatom Industrial Development           
Board, Gulf Opportunity Zone           
Revenue (PowerSouth Energy           
Cooperative Projects)  0.23   11/7/13  15,000,000 a  15,000,000 
Columbia Industrial Development           
Board, PCR, Refunding (Alabama           
Power Company Project)  0.05  11/1/13  6,800,000 a  6,800,000 
Columbia Industrial Development           
Board, PCR, Refunding (Alabama           
Power Company Project)  0.09  11/1/13  13,000,000 a  13,000,000 
Columbia Industrial Development           
Board, PCR, Refunding (Alabama           
Power Company Project)  0.09  11/1/13  9,700,000 a  9,700,000 
Eutaw Industrial Development           
Board, PCR, Refunding (Alabama           
Power Company Project)  0.05  11/1/13  5,000,000 a  5,000,000 
Mobile County Industrial           
Development Authority, Gulf           
Opportunity Zone Revenue (SSAB           
Alabama Inc.) (LOC; Swedbank)   0.14  11/7/13  14,000,000 a  14,000,000 
Tuscaloosa County Industrial           
Development Authority, Gulf           
Opportunity Zone Revenue (Hunt           
Refining Project) (LOC; Bank           
of Nova Scotia)  0.10  11/7/13  15,000,000 a  15,000,000 
Tuscaloosa County Industrial           
Development Authority, Gulf           
Opportunity Zone Revenue (Hunt           
Refining Project) (LOC; Bank           
of Nova Scotia)  0.10   11/7/13  20,000,000 a  20,000,000 
Tuscaloosa County Industrial           
Development Authority, Gulf           
Opportunity Zone Revenue (Hunt           
Refining Project) (LOC;           
Sumitomo Mitsui Banking           
Corporation)  0.10  11/7/13  20,000,000 a  20,000,000 
 
Arizona--4.1%           
Arizona,           
Unemployment Insurance TAN   1.50  5/21/14  12,000,000   12,086,913 
Arizona Health Facilities           
Authority, Revenue, Refunding           
(Phoenix Children's Hospital)           
(P-FLOATS Series MT-836)           
(Liquidity Facility; Bank of           
America and LOC; Bank of           
America)  0.28  11/7/13  10,495,000 a,b,c   10,495,000 
Deutsche Bank Spears/Lifers Trust           
(Series DBE-1082) (Arizona           

 


Health Facilities Authority,           
Revenue (Catholic Healthcare           
West)) (Liquidity Facility;           
Deutsche Bank AG and LOC;           
Deutsche Bank AG)  0.13  11/7/13  18,250,000   a,b,c 18,250,000 
Deutsche Bank Spears/Lifers Trust           
(Series DBE-1086) (Phoenix           
Industrial Development           
Authority, LR (Rowan           
University Project))           
(Liquidity Facility; Deutsche           
Bank AG and LOC; Deutsche Bank           
AG)  0.13  11/7/13  37,220,000 a,b,c   37,220,000 
Phoenix Civic Improvement           
Corporation, Water System           
Revenue, CP (LOC; Royal Bank           
of Canada)  0.12  12/4/13  17,000,000   17,000,000 
 
California--1.5%           
California Statewide Communities           
Development Authority, Revenue           
(Kaiser Permanente)  0.09  11/7/13  15,000,000 a  15,000,000 
Sacramento City Financing           
Authority, Revenue, Refunding           
(Master Lease Program           
Facilities) (P-FLOATS Series           
PT-4698) (Liquidity Facility;           
Deutsche Bank AG and LOC;           
Deutsche Bank AG)  0.16  11/7/13  20,835,000 a,b,c   20,835,000 
 
Colorado--3.0%           
Colorado Educational and Cultural           
Facilities Authority, Revenue,           
Refunding (The Nature           
Conservancy Project)  0.09  11/7/13  16,200,000 a  16,200,000 
Sheridan Redevelopment Agency,           
Tax Increment Revenue,           
Refunding (South Santa Fe           
Drive Corridor Redevelopment           
Project) (LOC; JPMorgan Chase           
Bank)  0.14  11/7/13  10,000,000 a  10,000,000 
Southern Ute Indian Tribe of the           
Southern Ute Indian           
Reservation, Revenue  0.09  11/7/13  45,000,000 a  45,000,000 
 
Connecticut--1.5%           
Bridgeport,           
GO Notes, TAN  1.00  2/18/14  35,000,000   35,083,473 
 
Delaware--1.1%           
Delaware Health Facilities           
Authority, Revenue (Christiana           
Care Health Services)  0.07  11/7/13  25,000,000 a  25,000,000 
 
District of Columbia--.9%           
District of Columbia,           
Revenue (American Legacy           
Foundation Issue)  0.07  11/7/13  22,000,000 a  22,000,000 

 


Florida--2.2%           
Collier County Health Facilities           
Authority, Revenue, CP           
(Cleveland Clinic Health           
System)  0.15  2/13/14  24,000,000   24,000,000 
Jacksonsville Electric Authority,           
Electric System Revenue, CP           
(Liquidity Facililty; U.S.           
Bank NA)  0.10  11/7/13  10,000,000   10,000,000 
Sunshine State Governmental           
Financing Commission, Revenue,           
CP (Liquidity Facility;           
JPMorgan Chase Bank)  0.15  1/7/14  10,000,000   10,000,000 
Sunshine State Governmental           
Financing Commission, Revenue,           
CP (Liquidity Facility;           
JPMorgan Chase Bank)  0.15  3/14/14  7,000,000   7,000,000 
 
Georgia--2.6%           
Athens-Clarke County Unified           
Government, GO Sales Tax Bonds           
(Jail Expansion Project)  2.00  12/1/13  4,500,000   4,506,673 
Cobb County Hospital Authority,           
RAC (Equipment Pool Project)           
(LOC; Wells Fargo Bank)  0.08  11/7/13  11,300,000 a  11,300,000 
Fulton County,           
General Fund TAN  2.00  12/31/13  15,000,000   15,044,883 
Fulton County Development           
Authority, Revenue (Children's           
Healthcare of Atlanta, Inc.           
Project) (Liquidity Facility;           
Landesbank Hessen-Thuringen           
Girozentrale)  0.12  11/7/13  4,985,000 a  4,985,000 
Georgia,           
GO Notes  2.00  2/1/14  5,285,000   5,309,343 
Putnam County Development           
Authority, PCR (Georgia Power           
Company Plant Branch Project)  0.10  11/1/13  18,500,000 a  18,500,000 
 
Illinois--2.6%           
Deutsche Bank Spears/Lifers Trust           
(Series DBE-502) (Chicago,           
General Airport Third Lien           
Revenue (Chicago O'Hare           
International Airport))           
(Liquidity Facility; Deutsche           
Bank AG and LOC; Deutsche Bank           
AG)  0.12  11/7/13  16,560,000  a,b,c 16,560,000 
Illinois Development Finance           
Authority, Revenue (Evanston           
Northwestern Healthcare           
Corporation) (Liquidity           
Facility; Wells Fargo Bank)  0.05  11/1/13  4,000,000 a  4,000,000 
Illinois Educational Facilities           
Authority, Revenue (Saint           
Xavier University Project)           
(LOC; Bank of America)  0.10  11/7/13  8,105,000 a  8,105,000 
Illinois Finance Authority,           
IDR (Fitzpatrick Brothers,           
Inc. Project) (Liquidity           

 


Facility; Northern Trust           
Company)  0.11  11/7/13  3,990,000 a  3,990,000 
Illinois Finance Authority,           
Revenue, CP (Hospital Sisters           
Services, Inc.)  0.12  11/18/13  25,000,000   25,000,000 
Lake County,           
MFHR (Whispering Oaks           
Apartments Project) (LOC;           
FHLMC)  0.07  11/7/13  3,250,000 a  3,250,000 
 
Indiana--.4%           
Deutsche Bank Spears/Lifers Trust           
(Series DBE-549) (Boone County           
Hospital Association, LR,           
Refunding) (Liquidity           
Facility; Deutsche Bank AG and           
LOC; Deutsche Bank AG)  0.18  11/7/13  8,395,000 a,b,c   8,395,000 
 
Kentucky--.6%           
Louisville and Jefferson County           
Metropolitan Sewer District,           
Sewer and Drainage System           
Subordinated Revenue, BAN  2.00  12/4/13  13,000,000   13,020,689 
 
Louisiana--4.0%           
Louisiana Public Facilities           
Authority, Revenue (Air           
Products and Chemicals Project)  0.05  11/1/13  18,800,000 a  18,800,000 
Louisiana Public Facilities           
Authority, Revenue (Air           
Products and Chemicals Project)  0.07  11/7/13  13,100,000 a  13,100,000 
Louisiana Public Facilities           
Authority, Revenue (Air           
Products and Chemicals Project)  0.07  11/7/13  11,000,000 a  11,000,000 
Louisiana Public Facilities           
Authority, Revenue (Air           
Products and Chemicals Project)  0.07  11/7/13  26,750,000 a  26,750,000 
Louisiana Public Facilities           
Authority, Revenue (Tiger           
Athletic Foundation Project)           
(LOC; FHLB)  0.08  11/7/13  14,330,000 a  14,330,000 
Port of New Orleans Board of           
Commissioners, Subordinate           
Lien Revenue, Refunding (LOC;           
FHLB)  0.08  11/7/13  8,650,000 a  8,650,000 
 
Maryland--2.5%           
Baltimore County,           
GO Notes (Baltimore County           
Metropolitan District)  5.00  2/1/14  3,230,000   3,268,661 
Frederick County,           
Revenue (Homewood, Inc.           
Facility) (LOC; M&T Trust)  0.10  11/7/13  10,500,000 a  10,500,000 
Frederick County,           
Revenue, Refunding           
(Manekin-Frederick Associates           
Facility) (LOC; M&T Trust)  0.22  11/7/13  1,690,000 a  1,690,000 
Maryland Economic Development           
Corporation, Revenue (Easter           

 


Seals Facility) (LOC; M&T           
Trust)  0.15  11/7/13  6,390,000 a  6,390,000 
Maryland Health and Higher           
Educational Facilities           
Authority, Revenue (De Matha           
Catholic High School Issue)           
(LOC; Branch Banking and Trust           
Co.)  0.08  11/7/13  9,115,000 a  9,115,000 
Maryland Stadium Authority,           
Sports Facilities LR,           
Refunding (Football Stadium           
Issue) (Liquidity Facility;           
Sumitomo Mitsui Banking Corp.)  0.07  11/7/13  16,900,000 a  16,900,000 
Montgomery County,           
Revenue (CHE Trinity Health           
Credit Group)  0.10  12/2/13  11,000,000   11,000,000 
 
Massachusetts--.1%           
Massachusetts Bay Transportation           
Authority, General           
Transportation System Revenue           
(Liquidity Facility; Bank of           
America)  0.14  11/7/13  2,715,000 a  2,715,000 
 
Michigan--2.6%           
Board of Trustees of the Michigan           
State University, CP  0.12  12/12/13  18,220,000   18,220,000 
Michigan Housing Development           
Authority, SFMR (Liquidity           
Facility; FHLB)  0.08  11/7/13  20,000,000 a  20,000,000 
RBC Municipal Products Inc. Trust           
(Series E-49) (Michigan           
Finance Authority, HR (CHE           
Trinity Health Credit Group))           
(Liquidity Facility; Royal           
Bank of Canada and LOC; Royal           
Bank of Canada)  0.08  11/7/13  12,000,000 a,b,c   12,000,000 
Waterford Charter Township           
Economic Development           
Corporation, LOR, Refunding           
(Canterbury Health Care, Inc.           
Project) (LOC; FHLB)  0.08  11/7/13  9,850,000 a  9,850,000 
 
Minnesota--1.3%           
Deutsche Bank Spears/Lifers Trust           
(Series DBE-1214) (Saint Paul           
Housing and Redevelopment           
Authority, District Cooling           
Revenue, Refunding) (Liquidity           
Facility; Deutsche Bank AG and           
LOC; Deutsche Bank AG)  0.18  11/7/13  10,235,000 a,b,c   10,235,000 
RBC Municipal Products Inc. Trust           
(Series E-19) (Minneapolis,           
Health Care System Revenue           
(Fairview Health Services))           
(Liquidity Facility; Royal           
Bank of Canada and LOC; Royal           
Bank of Canada)  0.08  11/7/13  10,000,000 a,b,c   10,000,000 
Southern Minnesota Municipal Power           
Agency, Power Supply System           

 


Revenue, CP (Liquidity           
Facility; U.S. Bank NA)  0.12  12/5/13  11,000,000   11,000,000 
 
Mississippi--.6%           
Mississippi Business Finance           
Corporation, Gulf Opportunity           
Zone IDR (Chevron U.S.A. Inc.           
Project)  0.05  11/1/13  3,800,000 a  3,800,000 
Mississippi Business Finance           
Corporation, Gulf Opportunity           
Zone IDR (Chevron U.S.A. Inc.           
Project)  0.05  11/1/13  11,000,000 a  11,000,000 
 
Missouri--3.3%           
Missouri Health and Educational           
Facilities Authority,           
Educational Facilities Revenue           
(Saint Louis University) (LOC;           
Wells Fargo Bank)  0.05  11/1/13  12,000,000 a  12,000,000 
Missouri Health and Educational           
Facilities Authority, Revenue           
(Ascension Health Senior           
Health Group)  0.08  11/7/13  7,100,000 a  7,100,000 
RBC Municipal Products Inc. Trust           
(Series E-47) (Missouri Health           
and Educational Facilities           
Authority, Health Facilities           
Revenue (BJC Health System))           
(Liquidity Facility; Royal           
Bank of Canada and LOC; Royal           
Bank of Canada)  0.08  11/7/13  25,000,000 a,b,c   25,000,000 
Saint Louis,           
Airport Revenue, Refunding           
(Lambert-Saint Louis           
International Airport) (Spears           
Trust Series DB-161)           
(Liquidity Facility; Deutsche           
Bank AG and LOC; Deutsche Bank           
AG)  0.11  11/7/13  29,875,000  a,b,c  29,875,000 
Saint Louis Regional Convention           
and Sports Complex Authority,           
Convention and Sports Facility           
Revenue, Refunding  2.00  8/15/14  3,565,000   3,609,706 
 
Nebraska--3.8%           
Lincoln,           
Electric System Revenue, CP           
(Liquidity Facility; Bank of           
Tokyo-Mitsubishi UFJ)  0.13  11/14/13  15,000,000   15,000,000 
Nebraska Investment Finance           
Authority, SFHR (Liquidity           
Facility; FHLB)  0.09  11/7/13  21,700,000 a  21,700,000 
Public Power Generation Agency of           
Nebraska, Revenue (Whelan           
Energy Center Unit Number 2)           
(Liquidity Facility; Citibank           
NA and LOC; Berkshire Hathaway           
Assurance Corporation)  0.10  11/7/13  51,470,000 a,b,c   51,470,000 
 
Nevada--.7%           

 


Clark County,           
Airport System Junior           
Subordinate Lien Revenue  2.00  7/1/14  7,900,000   7,986,162 
Clark County,           
Airport System Subordinate           
Lien Revenue (LOC; Citibank NA)  0.09  11/7/13  8,100,000 a  8,100,000 
 
New Hampshire--1.7%           
New Hampshire Health and Education           
Facilities Authority, Revenue           
(University System of New           
Hampshire Issue)  0.08  11/1/13  17,635,000 a  17,635,000 
New Hampshire Health and Education           
Facilities Authority, Revenue           
(University System of New           
Hampshire Issue) (Liquidity           
Facility; U.S. Bank NA)  0.08  11/1/13  22,800,000 a  22,800,000 
 
New York--7.3%           
Dutchess County Industrial           
Development Agency, Civic           
Facility Revenue (Anderson           
Foundation for Autism, Inc.           
Project) (LOC; M&T Trust)  0.13  11/7/13  8,000,000 a  8,000,000 
Dutchess County Industrial           
Development Agency, Civic           
Facility Revenue (Arbor Ridge           
at Brookmeade Project) (LOC;           
M&T Trust)  0.13  11/7/13  8,935,000 a  8,935,000 
Hammondsport Central School           
District, GO Notes, BAN  1.25  6/20/14  5,000,000   5,026,756 
Lancaster Industrial Development           
Agency, Civic Facility Revenue           
(GreenField Manor, Inc.           
Project) (LOC; M&T Trust)  0.15  11/7/13  5,765,000 a  5,765,000 
Nassau County Industrial           
Development Agency, Civic           
Facility Improvement Revenue,           
Refunding (Cold Spring Harbor           
Laboratory Project) (Liquidity           
Facility; TD Bank)  0.07  11/1/13  12,080,000 a  12,080,000 
New York City,           
GO Notes (LOC; Sumitomo Mitsui           
Banking Corp.)  0.07  11/7/13  22,700,000 a  22,700,000 
New York City Municipal Water           
Finance Authority, Water and           
Sewer System Revenue           
(Liquidity Facility; U.S. Bank           
NA)  0.07  11/1/13  12,610,000 a  12,610,000 
New York City Municipal Water           
Finance Authority, Water and           
Sewer System Second General           
Resolution Revenue (Liquidity           
Facility; JPMorgan Chase Bank)  0.08  11/1/13  21,900,000 a  21,900,000 
New York City Transitional Finance           
Authority, Future Tax Secured           
Senior Revenue, Refunding)           
(LOC; The Bank of           
Tokyo-Mitsubishi UFJ)  0.08  11/7/13  5,000,000 a  5,000,000 
New York State Housing Finance           

 


Agency, Housing Revenue (505           
West 37th Street) (LOC;           
Landesbank Hessen-Thuringen           
Girozentrale)  0.09  11/1/13  4,200,000 a  4,200,000 
South Jefferson Central School           
District, GO Notes, BAN  1.50  6/20/14  3,915,000   3,942,131 
Tompkins County Industrial           
Development Agency, Civic           
Facility Revenue (Community           
Development Properties Ithaca,           
Inc. Project) (LOC; M&T Trust)  0.20  11/7/13  8,975,000 a  8,975,000 
Triborough Bridge and Tunnel           
Authority, General Revenue           
(MTA Bridges and Tunnels)           
(LOC; California Public           
Employees Retirement System)  0.07  11/1/13  4,500,000 a  4,500,000 
Triborough Bridge and Tunnel           
Authority, General Revenue           
(MTA Bridges and Tunnels)           
(LOC; California Public           
Employees Retirement System)  0.07  11/7/13  15,000,000 a  15,000,000 
Triborough Bridge and Tunnel           
Authority, General Revenue,           
Refunding (MTA Bridges and           
Tunnels) (Liquidity Facility;           
Landesbank Hessen-Thuringen           
Girozentrale)  0.09  11/1/13  31,600,000 a  31,600,000 
 
North Carolina--1.9%           
Charlotte,           
COP, Refunding (Governmental           
Facilities Project) (Liquidity           
Facility; Wells Fargo Bank)  0.07  11/7/13  10,000,000 a  10,000,000 
Guilford County,           
GO Notes (Liquidity Facility;           
Branch Banking and Trust Co.)  0.08  11/7/13  11,600,000 a  11,600,000 
Winston-Salem,           
Water and Sewer System Revenue           
(Liquidity Facility; Branch           
Banking and Trust Co.)  0.09  11/7/13  6,900,000 a  6,900,000 
Winston-Salem,           
Water and Sewer System Revenue           
(Liquidity Facility; Branch           
Banking and Trust Co.)  0.09  11/7/13  16,120,000 a  16,120,000 
 
Ohio--.9%           
Akron,           
Health Benefit Claims, BAN           
(Special Obligations - Income           
Tax Supported)  1.13  3/13/14  1,600,000   1,604,178 
Allen County,           
Hospital Facilities Revenue,           
(Catholic Health Partners)  0.09  11/7/13  17,500,000 a  17,500,000 
Lucas County,           
GO Notes, BAN (Various Purpose           
Improvement)  1.00  7/16/14  2,600,000   2,613,126 
 
Oklahoma--.2%           
Oklahoma Water Resource Board,           
Revenue (Liquidity Facility;           

 


State Street Bank and Trust           
Co.)  0.30  12/2/13  3,545,000   3,545,000 
 
Oregon--.9%           
Oregon,           
GO Notes, TAN  1.50  7/31/14  20,000,000   20,197,851 
 
Pennsylvania--7.9%           
Adams County Industrial           
Development Authority, Revenue           
(The Brethren Home Community           
Project) (LOC; PNC Bank NA)  0.09  11/7/13  3,000,000 a  3,000,000 
Deutsche Bank Spears/Lifers Trust           
(Series DBE-1021)           
(Pennsylvania Higher Education           
Facilities Authority, Revenue           
(Student Association, Inc.           
Student Housing Project at           
California University of           
Pennsylvania)) (Liquidity           
Facility; Deutsche Bank AG and           
LOC; Deutsche Bank AG)  0.18  11/7/13  32,160,000 a,b,c   32,160,000 
East Hempfield Township Industrial           
Development Authority, Revenue           
(The Mennonite Home Project)           
(LOC; M&T Trust)  0.13  11/7/13  10,365,000 a  10,365,000 
East Hempfield Township Industrial           
Development Authority, Revenue           
(The Mennonite Home Project)           
(LOC; M&T Trust)  0.13  11/7/13  3,915,000 a  3,915,000 
Emmaus General Authority,           
Local Government Revenue (Bond           
Pool Program) (LOC; U.S. Bank           
NA)  0.06  11/7/13  11,600,000 a  11,600,000 
Emmaus General Authority,           
Local Government Revenue (Bond           
Pool Program) (LOC; U.S. Bank           
NA)  0.06  11/7/13  12,600,000 a  12,600,000 
Emmaus General Authority,           
Local Government Revenue (Bond           
Pool Program) (LOC; U.S. Bank           
NA)  0.06  11/7/13  9,600,000 a  9,600,000 
Emmaus General Authority,           
Local Government Revenue (Bond           
Pool Program) (LOC; U.S. Bank           
NA)  0.06  11/7/13  9,500,000 a  9,500,000 
General Authority of South Central           
Pennsylvania, Revenue           
(Lutheran Social Services of           
South Central Pennsylvania           
Project) (LOC; M&T Trust)  0.15  11/7/13  15,295,000 a  15,295,000 
Horizon Hospital System Authority,           
Senior Health and Housing           
Facilities Revenue (Saint Paul           
Homes Project) (LOC; M&T Trust)  0.13  11/7/13  16,310,000 a  16,310,000 
Lancaster County Hospital           
Authority, Health Center           
Revenue (LUTHERCARE Project)           
(LOC; M&T Trust)  0.08  11/7/13  32,180,000 a  32,180,000 
Lancaster County Hospital           

 


Authority, Revenue (Landis           
Home Retirement Community           
Project) (LOC; M&T Trust)  0.15  11/7/13  7,810,000 a  7,810,000 
Mars Area School District,           
GO Notes  1.00  2/28/14  3,150,000   3,156,817 
North Penn Water Authority,           
Water Revenue (LOC; U.S. Bank           
NA)  0.08  11/7/13  11,800,000 a  11,800,000 
Ridley School District,           
GO Notes (LOC; TD Bank)  0.08  11/7/13  2,600,000 a  2,600,000 
York General Authority,           
Revenue (Strand-Capitol           
Performing Arts Center           
Project) (LOC; M&T Trust)  0.15  11/7/13  1,845,000 a  1,845,000 
 
Tennessee--5.1%           
Blount County Public Building           
Authority, Local Government           
Public Improvement Revenue           
(LOC; Branch Banking and Trust           
Co.)  0.09  11/7/13  3,045,000 a  3,045,000 
Blount County Public Building           
Authority, Local Government           
Public Improvement Revenue           
(LOC; Branch Banking and Trust           
Co.)  0.09  11/7/13  6,000,000 a  6,000,000 
Blount County Public Building           
Authority, Local Government           
Public Improvement Revenue           
(LOC; Branch Banking and Trust           
Co.)  0.09  11/7/13  2,000,000 a  2,000,000 
Blount County Public Building           
Authority, Local Government           
Public Improvement Revenue           
(LOC; Branch Banking and Trust           
Co.)  0.09  11/7/13  9,510,000 a  9,510,000 
Blount County Public Building           
Authority, Local Government           
Public Improvement Revenue           
(LOC; Branch Banking and Trust           
Co.)  0.09  11/7/13  8,685,000 a  8,685,000 
Industrial Development Board of           
Blount County and the Cities           
of Alcoa and Maryville, Local           
Government Public Improvement           
Revenue (Maryville Civic Arts           
Center Project) (LOC; Branch           
Banking and Trust Co.)  0.09  11/7/13  2,000,000 a  2,000,000 
Memphis,           
CP (Liquidity Facility; Mizuho           
Bank, Ltd.)  0.11  11/12/13  30,000,000   30,000,000 
Memphis,           
CP (Liquidity Facility; Mizuho           
Bank, Ltd.)  0.13  12/18/13  12,000,000   12,000,000 
Metropolitan Government of           
Nashville and Davidson County,           
CP (Liquidity Facility:           
California Public Employees           
Retirement System, California           
State Teachers Retirement           

 


System and State Street Bank           
and Trust Co.)  0.12  1/14/14  22,500,000   22,500,000 
Shelby County Health Educational           
and Housing Facility Board,           
Educational Facilities Revenue           
(Rhodes College) (LOC; Wells           
Fargo Bank)  0.08  11/7/13  7,730,000 a  7,730,000 
Tennessee,           
CP (Liquidity Facility;           
Tennessee Consolidated           
Retirement System)  0.14  11/13/13  15,000,000   15,000,000 
 
Texas--20.7%           
Allen Independent School District,           
GO Notes, Refunding  3.00  2/15/14  2,120,000   2,133,398 
Dallas,           
Waterworks and Sewer System           
Revenue, CP (Liquidity           
Facility: California Public           
Employee Retirement System,           
California State Tearchers           
Retirement System and U.S.           
Bank NA)  0.11  1/21/14  10,000,000   10,000,000 
El Paso Independent School           
District, Unlimited Tax School           
Building Bonds (Liquidity           
Facility; JPMorgan Chase Bank           
and LOC; Permanent School Fund           
Guarantee Program)  0.17  1/16/14  10,000,000   10,000,000 
Fort Worth,           
Water and Sewer System           
Revenue, Refunding  5.00  2/15/14  4,700,000   4,765,967 
Garland,           
Electric Utility System           
Revenue, CP (LOC; Sumitomo           
Mitsui Banking Corporation)  0.14  12/17/13  15,000,000   15,000,000 
Garland Independent School           
District, GO Notes, Refunding  5.00  2/15/14  2,000,000   2,028,220 
Gregg County Health Facilities           
Development Corporation, HR           
(Good Shepherd Medical Center           
Project) (LOC; JPMorgan Chase           
Bank)  0.13  11/7/13  7,160,000 a  7,160,000 
Gulf Coast Waste Disposal           
Authority, Environmental           
Facilities Revenue (Air           
Products Project)  0.07  11/7/13  13,000,000 a  13,000,000 
Gulf Coast Waste Disposal           
Authority, Environmental           
Facilities Revenue (Air           
Products Project)  0.07  11/7/13  19,000,000 a  19,000,000 
Harris County,           
CP (Liquidity Facility; Bank           
of Tokyo-Mitsubishi UFJ)  0.13  12/17/13  33,000,000   33,000,000 
Harris County,           
GO Notes, TAN  2.00  2/28/14  15,000,000   15,090,382 
Harris County Cultural Education           
Facilities Finance           
Corporation, Medical           
Facilities Mortgage Revenue,           

 


Refunding (Baylor College of           
Medicine) (LOC; Barclays Bank           
PLC)  0.08  11/7/13  13,800,000 a  13,800,000 
Jefferson County Industrial           
Development Corporation,           
Hurricane Ike Disaster Area           
Revenue (Jefferson Refinery,           
L.L.C. Project) (LOC; Branch           
Banking and Trust Co.)  0.45  12/19/13  50,300,000   50,300,000 
Jefferson County Industrial           
Development Corporation,           
Hurricane Ike Disaster Area           
Revenue (Jefferson Refinery,           
L.L.C. Project) (LOC; Branch           
Banking and Trust Co.)  0.45  12/19/13  6,535,000   6,535,000 
Lower Colorado River Authority,           
Revenue, CP (Lower Colorado           
River Authority Transportation Services           
Corporation) (Liquidity           
Facility; JPMorgan Chase Bank)  0.15  11/4/13  18,000,000   18,000,000 
Lower Colorado River Authority,           
Revenue, CP (Lower Colorado           
River Authority Transportation           
Services Corporation)           
(Liquidity Facility; JPMorgan           
Chase Bank)  0.15  11/7/13  15,500,000   15,500,000 
Lower Colorado River Authority,           
Revenue, CP (Lower Colorado           
River Authority Transportation           
Services Corporation)           
(Liquidity Facility; JPMorgan           
Chase Bank)  0.16  11/7/13  17,600,000   17,600,000 
Lower Colorado River Authority,           
Revenue, CP (Lower Colorado           
River Authority Transportation           
Services Corporation)           
(Liquidity Facility; JPMorgan           
Chase Bank)  0.18  11/8/13  14,000,000   14,000,000 
Lower Colorado River Authority,           
Revenue, CP (Lower Colorado           
River Authority Transportation           
Services Corporation)           
(Liquidity Facility; JPMorgan           
Chase Bank)  0.12  11/26/13  3,175,000   3,175,000 
Lubbock Independent School           
District, Unlimited Tax School           
Building Bonds (Liquidity           
Facility; Bank of America and           
LOC; Permanent School Fund           
Guarantee Program)  0.12  11/7/13  4,300,000 a  4,300,000 
North Texas Tollway Authority,           
Revenue, CP (LOC; JPMorgan           
Chase Bank)  0.12  12/9/13  15,000,000   15,000,000 
Port Arthur Navigation District           
Industrial Development           
Corporation, Exempt Facilities           
Revenue (Air Products Project)  0.08  11/1/13  7,000,000 a  7,000,000 
RBC Municipal Products Inc. Trust           
(Series E-27) (Harris County           
Health Facilities Development           
Corporation, HR, Refunding           

 


(Memorial Hermann Healthcare           
System)) (Liquidity Facility;           
Royal Bank of Canada and LOC;           
Royal Bank of Canada)  0.08  11/7/13  15,000,000 a,b,c  15,000,000 
Red River Education Finance           
Corporation, Higher Education           
Revenue (Texas Christian           
University Project)  0.11  11/7/13  23,000,000 a  23,000,000 
Rockwall Independent School           
District, Unlimited Tax School           
Building Bonds (Liquidity           
Facility; Wells Fargo Bank and           
LOC; Permanent School Fund           
Guarantee Program)  0.08  11/7/13  18,000,000 a  18,000,000 
San Antonio,           
Electric and Gas Revenue, CP           
(Liquidity Facility; JPMorgan           
Chase Bank)  0.15  12/2/13  15,000,000   15,000,000 
Texas,           
TRAN  2.00  8/28/14  57,000,000   57,844,193 
Texas Water Development Board,           
State Revolving Fund           
Subordinate Lien Revenue           
(Citigroup ROCS, Series RR II           
R-11746) (Liquidity Facility;           
Citibank NA)  0.08  11/7/13  10,940,000  a,b,c 10,940,000 
University of Texas System Board           
of Regents, Financing System           
Revenue, Refunding  0.07  11/7/13  49,800,000 a  49,800,000 
 
Utah--1.6%           
Murray City,           
HR (Intermountain Health Care           
Health Services, Inc.)  0.07  11/7/13  32,000,000 a  32,000,000 
Murray City,           
HR (Intermountain Health Care           
Health Services, Inc.)  0.07  11/7/13  100,000 a  100,000 
Utah Housing Finance Agency,           
MFHR, Refunding (Candlestick           
Apartments Project) (Liquidity           
Facility; FNMA and LOC; FNMA)  0.12  11/7/13  6,400,000 a  6,400,000 
 
Virginia--.5%           
Arlington County Industrial           
Development Authority,           
Revenue, Refunding (County           
Projects)  4.00  12/15/13  5,830,000   5,857,159 
Harrisonburg Industrial           
Development Authority,           
Revenue, Refunding (Virginia           
Mennonite Retirement           
Community) (LOC; Branch           
Banking and Trust Co.)  0.09  11/7/13  6,685,000 a  6,685,000 
 
Washington--1.1%           
King County Housing Authority,           
Pooled Housing Revenue,           
Refunding (Liquidity Facility;           
FHLMC and LOC; FHLMC)  0.08  11/7/13  24,540,000 a  24,540,000 

 


Wisconsin--4.7%             
Milwaukee Redevelopment Authority,             
Redevelopment LR (University             
of Wisconsin-Milwaukee             
Kenilworth Project) (LOC; U.S.             
Bank NA)  0.08  11/7/13  5,730,000 a  5,730,000  
Oneida Tribe of Indians of             
Wisconsin, Health Facilities             
Revenue (LOC; Bank of America)  0.12  11/7/13  11,090,000 a  11,090,000  
Racine,             
Note Anticipation Notes  1.60  6/9/14  2,760,000   2,768,156  
Wisconsin Health and Educational             
Facilities Authority, Revenue             
(Ascension Health Senior             
Credit Group) (Eclipse Funding             
Trust, Series 0029) (Liquidity             
Facility; U.S. Bank NA and             
LOC; U.S. Bank NA)  0.08  11/7/13  22,890,000 a,b,c   22,890,000  
Wisconsin Health and Educational             
Facilities Authority, Revenue             
(Aurora Health Care) (LOC;             
JPMorgan Chase Bank)  0.20  12/5/13  29,000,000   29,000,000  
Wisconsin Health and Educational             
Facilities Authority, Revenue             
(Aurora Health Care) (LOC;             
JPMorgan Chase Bank)  0.20  1/9/14  22,000,000   22,000,000  
Wisconsin Health and Educational             
Facilities Authority, Revenue             
(Mequon Jewish Campus, Inc.             
Project) (LOC; JPMorgan Chase             
Bank)  0.14  11/7/13  5,935,000 a  5,935,000  
Wisconsin Health and Educational             
Facilities Authority, Revenue,             
CP (Aurora Health Care) (LOC;             
JPMorgan Chase Bank)  0.20  2/5/14  10,000,000   10,000,000  
 
Wyoming--1.1%             
Wyoming Student Loan Corporation,             
Student Loan Revenue,             
Refunding (LOC; Royal Bank of             
Canada)  0.07  11/7/13  25,000,000 a  25,000,000  
 
 
Total Investments (cost $2,340,291,959)      100.2 %  2,340,291,959  
Liabilities, Less Cash and Receivables      (.2 %)  (4,614,068 ) 
Net Assets      100.0 %  2,335,677,891  

 

a  Variable rate demand note - rate shown is the interest rate in effect at October 31, 2013. Maturity date represents the 
  next demand date, or the ultimate maturity date if earlier. 
b  Securities exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be 
  resold in transactions exempt from registration, normally to qualified institutional buyers. At October 31, 2013, these 
  securities amounted to $331,325,000 or 14.2% of net assets. 
c  The fund does not directly own the municipal security indicated; the fund owns an interest in a special purpose entity 
  that, in turn, owns the underlying municipal security. The special purpose entity permits the fund to own interests in 
  underlying assets, but in a manner structured to provide certain advantages not inherent in the underlying bonds (e.g., 
  enhanced liquidity, yields linked to short-term rates). 

 


At October 31, 2013, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.

Summary of Abbreviations     
ABAG  Association of Bay Area Governments  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  BPA  Bond Purchase Agreement 
CIFG  CDC Ixis Financial Guaranty  COP  Certificate of Participation 
CP  Commercial Paper  DRIVERS  Derivative Inverse Tax-Exempt Receipts 
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  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  LIFERS  Long Inverse Floating Exempt Receipts 
LOC  Letter of Credit  LOR  Limited Obligation Revenue 
LR  Lease Revenue  MERLOTS  Municipal Exempt Receipts Liquidity Option 
MFHR  Multi-Family Housing Revenue  MFMR  Multi-Family Mortgage Revenue 
PCR  Pollution Control Revenue  P-FLOATS  Puttable Floating Option Tax-Exempt Receipts 
PILOT  Payment in Lieu of Taxes  PUTTERS  Puttable Tax-Exempt Receipts 
RAC  Revenue Anticipation Certificates  RAN  Revenue Anticipation Notes 
RAW  Revenue Anticipation Warrants  ROCS  Reset Option Certificates 
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 
SPEARS  Short Puttable Exempt Adjustable Receipts  SWDR  Solid Waste Disposal Revenue 
TAN  Tax Anticipation Notes  TAW  Tax Anticipation Warrants 
TRAN  Tax and Revenue Anticipation Notes  XLCA  XL Capital Assurance 

 


The following is a summary of the inputs used as of October 31, 2013 in valuing the fund's investments:

Valuation Inputs  Short-Term Investments ($)+ 
Level 1 - Unadjusted Quoted Prices  - 
Level 2 - Other Significant Observable Inputs  2,340,291,959 
Level 3 - Significant Unobservable Inputs  - 
Total  2,340,291,959 

 

+ See Statement of Investments for additional detailed categorizations. 

 


The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

Portfolio valuation: Investments in securities are valued at amortized cost in accordance with Rule 2a-7 under the Act. If amortized cost is determined not to approximate market value, the fair value of the portfolio securities will be determined by procedures established by and under the general supervision of the Board of Trustees.

The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.

Various inputs are used in determining the value of the fund’s investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:

Level 1—unadjusted quoted prices in active markets for identical investments.

Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

Level 3—significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, money market securities are valued using amortized cost, in accordance with rules under the Act. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, such securities are reflected as Level 2.

Additional 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.

 

STATEMENT OF INVESTMENTS           
Dreyfus California AMT-Free Municipal Cash Management         
October 31, 2013 (Unaudited)           
 
  Coupon  Maturity  Principal    
Short-Term Investments--100.4%  Rate (%)  Date  Amount ($)   Value ($) 
ABAG Finance Authority for           
Nonprofit Corporations,           
Revenue (California Alumni           
Association Project) (LOC;           
Bank of America)  0.13  11/7/13  4,100,000 a  4,100,000 
ABAG Finance Authority for           
Nonprofit Corporations,           
Revenue (Jewish Community           
Center of Orange County           
Project) (LOC; Bank of America)  0.13  11/7/13  2,395,000 a  2,395,000 
Alameda County Industrial           
Development Authority,           
Recovery Zone Facility Revenue           
(Dale Hardware, Inc. Project)           
(LOC; Comerica Bank)  0.10  11/7/13  2,490,000 a  2,490,000 
Alameda County Industrial           
Development Authority, Revenue           
(Santini Foods, Inc. Project)           
(LOC; Comerica Bank)  0.10  11/7/13  2,900,000 a  2,900,000 
Alameda Public Financing           
Authority, Revenue (Alameda           
Point Improvement Project)           
(LOC; California State           
Teachers Retirement System)  0.10  11/7/13  4,900,000 a  4,900,000 
Branch Banking and Trust Co.           
Municipal Trust (Series 2000)           
(California, GO Notes,           
Refunding) (Liquidity           
Facility; Branch Banking and           
Trust Co. and LOC; Branch           
Banking and Trust Co.)  0.12  11/7/13  11,060,000 a,b,c   11,060,000 
California Community College           
Financing Authority, TRAN           
(Note Participations)  2.00  12/31/13  10,800,000   10,830,181 
California Enterprise Development           
Authority, IDR (Tri Tool Inc.           
Project) (LOC; Comerica Bank)  0.13  11/7/13  9,320,000 a  9,320,000 
California Enterprise Development           
Authority, Recovery Zone           
Facility Revenue (Regional           
Properties, Inc. Project)           
(LOC; FHLB)  0.09  11/7/13  15,000,000 a  15,000,000 
California Health Facilities           
Financing Authority, Revenue,           
CP (Kaiser Permanente)  0.18  11/19/13  22,300,000   22,300,000 
California Infrastructure and           
Economic Development Bank,           

 


Revenue (Goodwill Industries           
of Orange County, California)           
(LOC; Wells Fargo Bank)  0.13  11/7/13  1,385,000 a  1,385,000 
California Infrastructure and           
Economic Development Bank,           
Revenue (Southern California           
Public Radio Project) (LOC;           
JPMorgan Chase Bank)  0.08  11/1/13  2,445,000 a  2,445,000 
California Infrastructure and           
Economic Development Bank,           
Revenue (SRI International)           
(LOC; Wells Fargo Bank)  0.09  11/7/13  2,535,000 a  2,535,000 
California Infrastructure and           
Economic Development Bank,           
Revenue (The Westmark School           
Project) (LOC; U.S. Bank NA)  0.09  11/7/13  6,410,000 a  6,410,000 
California Infrastructure and           
Economic Development Bank,           
Revenue, Refunding (Pacific           
Gas and Electric Company)           
(LOC; Sumitomo Mitsui Bank           
Corporation)  0.03  11/1/13  30,865,000 a  30,865,000 
California Municipal Finance           
Authority, Revenue (Notre Dame           
High School, San Jose) (LOC;           
Comerica Bank)  0.12  11/7/13  1,050,000 a  1,050,000 
California Pollution Control           
Financing Authority, PCR,           
Refunding (Pacific Gas and           
Electric Company) (LOC;           
JPMorgan Chase Bank)  0.05  11/1/13  14,400,000 a  14,400,000 
California Pollution Control           
Financing Authority, SWDR           
(Athens Services Project)           
(LOC; Wells Fargo Bank)  0.10  11/7/13  31,065,000 a  31,065,000 
California Pollution Control           
Financing Authority, SWDR (Big           
Bear Disposal, Inc. Project)           
(LOC; Union Bank NA)  0.11  11/7/13  2,325,000 a  2,325,000 
California Pollution Control           
Financing Authority, SWDR           
(Crown Disposal Company, Inc.           
Project) (LOC; Union Bank NA)  0.11  11/7/13  2,825,000 a  2,825,000 
California Pollution Control           
Financing Authority, SWDR           
(Garden City Sanitation, Inc.           
Project) (LOC; Union Bank NA)  0.11  11/7/13  8,130,000 a  8,130,000 
California Pollution Control           
Financing Authority, SWDR           
(Mission Trail Waste Systems,           
Inc. Project) (LOC; Comerica           
Bank)  0.12  11/7/13  2,550,000 a  2,550,000 
California Pollution Control           

 


Financing Authority, SWDR           
(South Bay Recycling Project)           
(LOC; Union Bank NA)  0.11  11/7/13  2,250,000 a  2,250,000 
California Pollution Control           
Financing Authority, SWDR,           
Refunding (BLT Enterprises of           
Fremont LLC Project) (LOC;           
Union Bank NA)  0.11  11/7/13  8,740,000 a  8,740,000 
California Pollution Control           
Financing Authority, SWDR,           
Refunding (MarBorg Industries           
Project) (LOC; Union Bank NA)  0.11  11/7/13  2,750,000 a  2,750,000 
California School Cash Reserve           
Program Authority, Revenue  2.00  12/31/13  3,600,000   3,610,434 
California School Cash Reserve           
Program Authority, Revenue  2.00  4/1/14  6,300,000   6,346,760 
California School Cash Reserve           
Program Authority, Subordinate           
Revenue  2.00  6/2/14  1,750,000   1,766,762 
California Statewide Communities           
Development Authority, Revenue           
(Goodwill of Santa Cruz) (LOC;           
Wells Fargo Bank)  0.13  11/7/13  1,555,000 a  1,555,000 
California Statewide Communities           
Development Authority, Revenue           
(Metropolitan Area Advisory           
Committee Project) (LOC; Bank           
of America)  0.20  11/7/13  3,290,000 a  3,290,000 
California Statewide Communities           
Development Authority, Revenue           
(Trinity Children and Family           
Services Project) (LOC;           
California State Teachers           
Retirement System)  0.12  11/7/13  4,100,000 a  4,100,000 
Desert Sands Unified School           
District, GO Notes, TRAN  1.50  1/31/14  3,000,000   3,009,278 
Deutsche Bank Spears/Lifers Trust           
(Series DBE-525) (Golden State           
Tobacco Securitization           
Corporation, Enhanced Tobacco           
Settlement Asset-Backed Bonds)           
(Liquidity Facility; Deutsche           
Bank AG and LOC; Deutsche Bank           
AG)  0.18  11/7/13  5,005,000  a,b,c 5,005,000 
Deutsche Bank Spears/Lifers Trust           
(Series DBE-561) (Azusa Public           
Financing Authority, Parity           
Revenue (Water System Capital           
Improvements Program)           
(Liquidity Facility; Deutsche           
Bank AG and LOC; Deutsche Bank           
AG)  0.18  11/7/13  5,100,000   a,b,c 5,100,000 
Deutsche Bank Spears/Lifers Trust           

 


(Series DBE-575) (Elk Grove           
Finance Authority, Special Tax           
Revenue) (Liquidity Facility;           
Deutsche Bank AG and LOC;           
Deutsche Bank AG)  0.18  11/7/13  4,670,000 a,b,c  4,670,000 
Deutsche Bank Spears/Lifers Trust           
(Series DBE-1013) (Fontana           
Public Financing Authority,           
Tax Allocation Revenue (North           
Fontana Redevelopment           
Project)) (Liquidity Facility;           
Deutsche Bank AG and LOC;           
Deutsche Bank AG)  0.21  11/7/13  5,200,000 a,b,c   5,200,000 
Deutsche Bank Spears/Lifers Trust           
(Series DBE-1083) (California           
Health Facilities Financing           
Authority, Revenue (Catholic           
Healthcare West)) (Liquidity           
Facility; Deutsche Bank AG and           
LOC; Deutsche Bank AG)  0.14  11/7/13  3,000,000 a,b,c   3,000,000 
Deutsche Bank Spears/Lifers Trust           
(Series DBE-1211) (Golden           
State Tobacco Securitization           
Corporation, Enhanced Tobacco           
Settlement Asset-Backed Bonds)           
(Liquidity Facility; Deutsche           
Bank AG and LOC; Deutsche Bank           
AG)  0.15  11/7/13  22,160,000  a,b,c 22,160,000 
Hillsborough,           
COP (Water and Sewer Systems           
Projects) (Liquidity Facility;           
JPMorgan Chase Bank)  0.16  11/7/13  5,900,000 a  5,900,000 
Irvine Reassessment District           
Number 05-21, Limited           
Obligation Improvement Bonds           
(LOC: California State           
Teachers Retirement System and           
U.S. Bank NA)  0.06  11/1/13  28,600,000 a  28,600,000 
Los Angeles County Schools Pooled           
Financing Program, Pooled           
TRAN, Participation           
Certificates (Evidencing and           
Representing Proportionate and           
Undivided Interests of the           
Owners of Certain Los Angeles           
County School and Community           
College Districts)  2.00  11/29/13  2,000,000   2,002,702 
Los Angeles County Schools Pooled           
Financing Program, Pooled           
TRAN, Participation           
Certificates (Evidencing and           
Representing Proportionate and           
Undivided Interests of the           

 


Owners of Certain Los Angeles           
County School and Community           
College Districts)  2.00  12/31/13  7,200,000   7,219,186 
Los Angeles County Schools Pooled           
Financing Program, Pooled           
TRAN, Participation           
Certificates (Evidencing and           
Representing Proportionate and           
Undivided Interests of the           
Owners of Certain Los Angeles           
County School and Community           
College Districts)  2.00  12/31/13  5,800,000   5,816,615 
Los Angeles Municipal Improvement           
Corporation, LR, CP (LOC;           
Wells Fargo Bank)  0.16  12/4/13  3,000,000   3,000,000 
Manteca Redevelopment Agency,           
Subordinate Tax Allocation           
Revenue, Refunding (Amended           
Merged Project Area) (LOC;           
State Street Bank and Trust           
Co.)  0.07  11/1/13  15,140,000 a  15,140,000 
Menlo Park Community Development           
Agency, Tax Allocation           
Revenue, Refunding (Las Pulgas           
Community Development Project)           
(LOC; State Street Bank and           
Trust Co.)  0.07  11/1/13  12,000,000 a  12,000,000 
Orange County Irvine Coast           
Assessment District Number           
88-1, Limited Obligation           
Improvement Bonds (LOC;           
Sumitomo Mitsui Banking Corp.)  0.10  11/7/13  4,065,000 a  4,065,000 
Pittsburg Redevelopment Agency,           
Subordinate Tax Allocation           
Revenue (Los Medanos Community           
Development Project)           
(Liquidity Facility:           
California State Teachers           
Retirement System and State           
Street Bank and Trust Co.)  0.07  11/1/13  42,200,000 a  42,200,000 
Ravenswood City School District,           
GO Notes, TRAN  1.00  3/3/14  1,400,000   1,402,089 
Riverside County Transportation           
Commission, Sales Tax Revenue           
(Liquidity Facility; JPMorgan           
Chase Bank)  0.10  11/7/13  8,800,000 a  8,800,000 
Sacramento County Housing           
Authority, MFHR, Refunding           
(Stonebridge Apartments) (LOC;           
FNMA)  0.13  11/7/13  8,000,000 a  8,000,000 
Sacramento Municipal Utility           
District, Subordinated           
Electric Revenue, Refunding           

 


(LOC; Bank of America)  0.08  11/7/13  39,500,000 a  39,500,000  
San Bernardino County,             
MFHR, Refunding (Somerset             
Apartments) (Liquidity             
Facility; FNMA and LOC; FNMA)  0.13  11/7/13  1,800,000 a  1,800,000  
San Diego County,             
COP (Museum of Contemporary             
Art San Diego) (LOC; Northern             
Trust Company)  0.08  11/7/13  1,450,000 a  1,450,000  
San Diego County and San Diego             
County School Districts, GO             
Notes, Tax and Revenue             
Anticipation Note Program             
(Note Participations)  2.00  4/30/14  5,000,000   5,043,812  
San Pablo Redevelopment Agency,             
Subordinate Tax Allocation             
Revenue (Tenth Township             
Redevelopment Project) (LOC;             
Union Bank NA)  0.07  11/1/13  17,100,000 a  17,100,000  
Tahoe Forest Hospital District,             
Revenue (LOC; U.S. Bank NA)  0.07  11/1/13  4,865,000 a  4,865,000  
West Basin Municipal Water             
District, Revenue, Refunding             
COP (Liquidity Facility;             
Citibank NA)  0.13  11/7/13  7,845,000 a  7,845,000  
 
Total Investments (cost $495,582,819)      100.4 %  495,582,819  
Liabilities, Less Cash and Receivables      (.4 %)  (2,088,414 ) 
Net Assets      100.0 %  493,494,405  

 

a  Variable rate demand note - rate shown is the interest rate in effect at October 31, 2013. Maturity date represents the 
  next demand date, or the ultimate maturity date if earlier. 
b  Securities exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be 
  resold in transactions exempt from registration, normally to qualified institutional buyers. At October 31, 2013, these 
  securities amounted to $56,195,000 or 11.4% of net assets. 
c  The fund does not directly own the municipal security indicated; the fund owns an interest in a special purpose entity 
  that, in turn, owns the underlying municipal security. The special purpose entity permits the fund to own interests in 
  underlying assets, but in a manner structured to provide certain advantages not inherent in the underlying bonds (e.g., 
  enhanced liquidity, yields linked to short-term rates). 

 

At October 31, 2013, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.

Summary of Abbreviations     
ABAG  Association of Bay Area Governments  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  BPA  Bond Purchase Agreement 
CIFG  CDC Ixis Financial Guaranty  COP  Certificate of Participation 
CP  Commercial Paper  DRIVERS  Derivative Inverse Tax-Exempt Receipts 
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  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  LIFERS  Long Inverse Floating Exempt Receipts 
LOC  Letter of Credit  LOR  Limited Obligation Revenue 
LR  Lease Revenue  MERLOTS  Municipal Exempt Receipts Liquidity Option Tender 
MFHR  Multi-Family Housing Revenue  MFMR  Multi-Family Mortgage Revenue 
PCR  Pollution Control Revenue  P-FLOATS  Puttable Floating Option Tax-Exempt Receipts 
PILOT  Payment in Lieu of Taxes  PUTTERS  Puttable Tax-Exempt Receipts 
RAC  Revenue Anticipation Certificates  RAN  Revenue Anticipation Notes 
RAW  Revenue Anticipation Warrants  RIB  Residual Interest Bonds 
ROCS  Reset Option Certificates  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  SPEARS  Short Puttable Exempt Adjustable Receipts 
SWDR  Solid Waste Disposal Revenue  TAN  Tax Anticipation Notes 
TAW  Tax Anticipation Warrants  TRAN  Tax and Revenue Anticipation Notes 
XLCA  XL Capital Assurance     

 


 

The following is a summary of the inputs used as of October 31, 2013 in valuing the fund's investments:

Valuation Inputs  Short-Term Investments ($)+ 
Level 1 - Unadjusted Quoted Prices  - 
Level 2 - Other Significant Observable Inputs  495,582,819 
Level 3 - Significant Unobservable Inputs  - 
Total  495,582,819 

 

+ See Statement of Investments for additional detailed categorizations. 

 


The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

Portfolio valuation: Investments in securities are valued at amortized cost in accordance with Rule 2a-7 under the Act. If amortized cost is determined not to approximate market value, the fair value of the portfolio securities will be determined by procedures established by and under the general supervision of the Board of Trustees.

The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.

Various inputs are used in determining the value of the fund’s investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:

Level 1—unadjusted quoted prices in active markets for identical investments.

Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

Level 3—significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, money market securities are valued using amortized cost, in accordance with rules under the Act. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, such securities are reflected as Level 2.


 

Additional 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.

 

STATEMENT OF INVESTMENTS         
Dreyfus New York AMT-Free Municipal Cash Management Fund       
 
October 31, 2013 (Unaudited)           
 
  Coupon  Maturity  Principal    
Short-Term Investments--99.0%  Rate (%)  Date  Amount ($)   Value ($) 
Ausable Valley Central School           
District, GO Notes, BAN   1.00  6/26/14  2,800,000   2,808,345 
Broome County Industrial           
Development Agency, Continuing           
Care Retirement Community           
Revenue (Good Shepherd Village           
at Endwell, Inc. Project)           
(LOC; M&T Trust)  0.13   11/7/13  3,160,000 a  3,160,000 
Deutsche Bank Spears/Lifers Trust           
(Series DBE-1152) (TSASC,           
Inc., Tobacco Settlement           
Asset-Backed Bonds) (Liquidity           
Facility: Deutsche Bank AG and           
LOC; Deutsche Bank AG)  0.18   11/7/13  3,000,000 a,b,c   3,000,000 
Dutchess County Industrial           
Development Agency, Civic           
Facility Revenue (Anderson           
Foundation for Autism, Inc.           
Project) (LOC; M&T Trust)  0.13   11/7/13  3,425,000 a  3,425,000 
Dutchess County Industrial           
Development Agency, Revenue           
(Trinity-Pawling School           
Corporation Civic Facility)           
(LOC; PNC Bank NA)  0.08  11/7/13  1,000,000 a  1,000,000 
East Farmingdale Volunteer Fire           
Company Inc., Volunteer Fire           
Department Revenue (LOC;           
Citibank NA)   0.45 11/7/13  3,740,000 a  3,740,000 
Franklin County Industrial           
Development Agency, Civic           
Facility Revenue (Paul Smith's           
College Project) (LOC; U.S.           
Bank NA)  0.10  11/7/13  885,000 a  885,000 
Franklin County Industrial           
Development Agency, Civic           
Facility Revenue (Trudeau           
Institute, Inc. Project) (LOC;           
HSBC Bank USA)   0.16 11/7/13  1,545,000 a  1,545,000 
Franklin County Industrial           
Development Agency, Civic           
Facility Revenue (Trudeau           
Institute, Inc. Project) (LOC;           
HSBC Bank USA)  0.16  11/7/13  130,000 a  130,000 
Hamburg Central School District,           
GO Notes, BAN  2.00   6/13/14  4,600,000   4,642,684 
Holley Central School District,           
GO Notes, BAN   1.25 6/19/14  1,100,000   1,104,957 
Middletown,           
GO Notes, BAN   1.00 2/21/14  1,400,000   1,402,350 
Monroe County Industrial           
Development Agency, Civic           

 


Facility Revenue (The Glen at           
Cherry Ridge, LLC Project)           
(LOC; HSBC Bank USA)  0.10  11/7/13  4,800,000 a  4,800,000 
Nassau County Industrial           
Development Agency, Continuing           
Care Retirement Community           
Revenue (Amsterdam at           
Harborside Project) (LOC; Bank           
of America)  0.37  11/7/13  5,000,000 a  5,000,000 
New York City,           
GO Notes (LOC; Bayerische           
Landesbank)  0.12  11/7/13  2,700,000 a  2,700,000 
New York City,           
GO Notes (LOC; Mizuho Bank,           
Ltd.)  0.08  11/1/13  3,300,000 a  3,300,000 
New York City Capital Resource           
Corporation, Revenue (Loan           
Enhanced Assistance Program -           
Cobble Hill Health Center,           
Inc. Project) (LOC; Bank of           
America)  0.20  11/7/13  2,400,000 a  2,400,000 
New York City Housing Development           
Corporation, Multi-Family           
Rental Housing Revenue           
(Queenswood Apartments           
Project) (Liquidity Facility;           
FHLMC and LOC; FHLMC)  0.07  11/7/13  3,425,000 a  3,425,000 
New York City Industrial           
Development Agency, Civic           
Facility Revenue (Birch Wathen           
Lenox School Project) (LOC; TD           
Bank)  0.15  11/7/13  3,985,000 a  3,985,000 
New York City Industrial           
Development Agency, Civic           
Facility Revenue (Children's           
Oncology Society of New York,           
Inc. Project) (LOC; JPMorgan           
Chase Bank)  0.12  11/7/13  2,100,000 a  2,100,000 
New York City Industrial           
Development Agency, Civic           
Facility Revenue (Sephardic           
Community Youth Center, Inc.           
Project) (LOC; M&T Trust)  0.13  11/7/13  4,700,000 a  4,700,000 
New York City Industrial           
Development Agency, Civic           
Facility Revenue           
(Spence-Chapin, Services to           
Families and Children Project)           
(LOC; TD Bank)  0.15  11/7/13  3,000,000 a  3,000,000 
New York City Municipal Water           
Finance Authority, Water and           
Sewer System Revenue           
(Liquidity Facility; State           
Street Bank and Trust Co.)  0.07  11/1/13  1,135,000 a  1,135,000 
New York Liberty Development           
Corporation, Liberty Revenue,           
Refunding (World Trade Center           
Project - Towers 3-4) (LOC;           
JPMorgan Chase Bank)  0.10  11/7/13  1,035,000 a  1,035,000 

 


New York Liberty Development           
Corporation, Liberty Revenue,           
Refunding (World Trade Center           
Project - Towers 3-4) (LOC;           
JPMorgan Chase Bank)  0.10  11/7/13  180,000 a  180,000 
New York Liberty Development           
Corporation, Recovery Zone           
Revenue (3 World Trade Center           
Project) (LOC; JPMorgan Chase           
Bank)  0.10  11/7/13  585,000 a  585,000 
New York Liberty Development           
Corporation, Recovery Zone           
Revenue (3 World Trade Center           
Project) (LOC; JPMorgan Chase           
Bank)  0.10  11/7/13  515,000 a  515,000 
New York Local Government           
Assistance Corporation,           
Subordinate Lien Revenue,           
Refunding (Liquidity Facility;           
Bank of America)  0.13  11/7/13  1,000,000 a  1,000,000 
New York State Dormitory           
Authority, Revenue (Le Moyne           
College) (LOC; TD Bank)  0.08  11/7/13  1,200,000 a  1,200,000 
New York State Housing Finance           
Agency, Housing Revenue (505           
West 37th Street) (LOC;           
Landesbank Hessen-Thuringen           
Girozentrale)  0.09  11/1/13  7,800,000 a  7,800,000 
New York State Housing Finance           
Agency, Housing Revenue           
(Baisley Park Gardens) (LOC;           
Citibank NA)  0.11  11/7/13  6,435,000 a  6,435,000 
Northern Adirondack Central School           
District at Ellenburg, GO           
Notes, BAN  2.00  6/26/14  3,000,000   3,028,526 
Orange County Industrial           
Development Agency, Civic           
Facility Revenue (Tuxedo Park           
School Project) (LOC; M&T           
Trust)  0.13  11/7/13  200,000 a  200,000 
Port Authority of New York and New           
Jersey, Equipment Notes  0.13  11/7/13  2,800,000 a  2,800,000 
Putnam County Industrial           
Development Agency, Civic           
Facility Revenue (United           
Cerebral Palsy of Putnam and           
Southern Dutchess Project)           
(LOC; TD Bank)  0.08  11/7/13  1,420,000 a  1,420,000 
Suffolk County Industrial           
Development Agency, Civic           
Facility Revenue (Hampton Day           
School Civic Facility) (LOC;           
JPMorgan Chase Bank)  0.13  11/7/13  1,000,000 a  1,000,000 
Syracuse Industrial Development           
Agency, Civic Facility Revenue           
(Crouse Health Hospital, Inc.           
Project) (LOC; HSBC Bank USA)  0.09  11/7/13  1,215,000 a  1,215,000 
Triborough Bridge and Tunnel           
Authority, General Revenue           

 


(MTA Bridges and Tunnels)           
(LOC; California Public           
Employees Retirement System)  0.07  11/1/13  9,160,000 a  9,160,000 
West Seneca Central School           
District, GO Notes, BAN  1.00  11/27/13  2,615,000   2,615,740 
 
 
Total Investments (cost $103,577,602)      99.0 %  103,577,602 
Cash and Receivables (Net)      1.0 %  1,059,536 
Net Assets      100.0 %  104,637,138 

 

a Variable rate demand note - rate shown is the interest rate in effect at October 31, 2013. Maturity date represents the 
next demand date, or the ultimate maturity date if earlier. 
b Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. This security may be resold in 
transactions exempt from registration, normally to qualified institutional buyers. At October 31, 2013, this security 
amounted to $3,000,000 or 2.9% of net assets. 
c The fund does not directly own the municipal security indicated; the fund owns an interest in a special purpose entity 
that, in turn, owns the underlying municipal security. The special purpose entity permits the fund to own interests in 
underlying assets, but in a manner structured to provide certain advantages not inherent in the underlying bonds (e.g., 
enhanced liquidity, yields linked to short-term rates). 

 

At October 31, 2013, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.

Summary of Abbreviations     
ABAG  Association of Bay Area Governments  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  BPA  Bond Purchase Agreement 
CIFG  CDC Ixis Financial Guaranty  COP  Certificate of Participation 
CP  Commercial Paper  DRIVERS  Derivative Inverse Tax-Exempt Receipts 
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  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  LIFERS  Long Inverse Floating Exempt Receipts 
LOC  Letter of Credit  LOR  Limited Obligation Revenue 
LR  Lease Revenue  MERLOTS  Municipal Exempt Receipts Liquidity Option 
MFHR  Multi-Family Housing Revenue  MFMR  Multi-Family Mortgage Revenue 
PCR  Pollution Control Revenue  P-FLOATS  Puttable Floating Option Tax-Exempt Receipts 
PILOT  Payment in Lieu of Taxes  PUTTERS  Puttable Tax-Exempt Receipts 
RAC  Revenue Anticipation Certificates  RAN  Revenue Anticipation Notes 
RAW  Revenue Anticipation Warrants  ROCS  Reset Option Certificates 
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 
SPEARS  Short Puttable Exempt Adjustable Receipts  SWDR  Solid Waste Disposal Revenue 
TAN  Tax Anticipation Notes  TAW  Tax Anticipation Warrants 

 


TRAN  Tax and Revenue Anticipation Notes  XLCA  XL Capital Assurance 

 


The following is a summary of the inputs used as of October 31, 2013 in valuing the fund's investments:

Valuation Inputs  Short-Term Investments ($)+ 
Level 1 - Unadjusted Quoted Prices  - 
Level 2 - Other Significant Observable Inputs  103,577,602 
Level 3 - Significant Unobservable Inputs  - 
Total  103,577,602 

 

+ See Statement of Investments for additional detailed categorizations. 

 


The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

Portfolio valuation: Investments in securities are valued at amortized cost in accordance with Rule 2a-7 under the Act. If amortized cost is determined not to approximate market value, the fair value of the portfolio securities will be determined by procedures established by and under the general supervision of the Board of Trustees.

The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.

Various inputs are used in determining the value of the fund’s investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:

Level 1—unadjusted quoted prices in active markets for identical investments.

Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

Level 3—significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, money market securities are valued using amortized cost, in accordance with rules under the Act. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, such securities are reflected as Level 2.

Additional 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.

 

 

 

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.

 

 

 

 

FORM N-Q

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 Funds

By: /s/ Bradley J. Skapyak

     Bradley J. Skapyak

     President

 

Date:

December 18, 2013

 

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/ Bradley J. Skapyak

     Bradley J. Skapyak

     President

 

Date:

December 18, 2013

 

By: /s/ James Windels

     James Windels

    Treasurer

 

Date:

December 18, 2013

 

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)