N-Q 1 form-289.htm QUARTERLY SCHEDULE form-289
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 811-3964 
Dreyfus Government 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) 
 
Michael A. Rosenberg, Esq. 
200 Park Avenue 
New York, New York 10166 
(Name and address of agent for service) 
 
Registrant's telephone number, including area code: (212) 922-6000 

Date of fiscal year end:    1/31 
Date of reporting period:    10/31/07 

FORM N-Q

Item 1. Schedule of Investments.

STATEMENT OF INVESTMENTS         
Dreyfus Government Cash Management         
October 31, 2007 (Unaudited)             
 
    Annualized         
    Yield on Date    Principal     
U.S. Government Agencies--75.6%    of Purchase (%)    Amount ($)    Value ($) 
Federal Farm Credit Bank:             
4/11/08    4.74    350,000,000 a    349,954,826 
5/13/08    4.73    125,000,000 a    124,987,095 
11/17/08    4.70    75,000,000 a    75,000,000 
9/15/09    4.80    320,000,000 a    319,971,177 
Federal Home Loan Bank System:             
11/1/07    4.40    2,700,000,000    2,700,000,000 
11/7/07    5.19    987,536,000    986,693,303 
11/14/07    5.23    41,000,000    40,923,529 
11/20/07    4.81    235,041,000    234,451,765 
11/27/07    4.81    250,000,000    249,142,361 
11/30/07    5.17    150,000,000    149,384,958 
1/11/08    4.50    132,000,000    130,840,215 
1/16/08    4.50    120,750,000    119,615,621 
1/16/08    4.51    84,520,000    83,724,197 
1/25/08    4.50    130,000,000    128,634,097 
2/6/08    4.51    62,500,000    61,750,608 
2/15/08    4.50    59,000,000    58,229,542 
2/15/08    4.51    59,000,000    58,227,805 
2/22/08    4.50    54,775,000    54,013,338 
2/22/08    4.50    204,200,000    201,357,337 
3/19/08    4.53    133,239,000    130,959,984 
3/24/08    4.53    99,741,000    97,973,590 
3/25/08    4.52    47,020,000    46,182,913 
3/26/08    4.51    220,000,000    216,065,300 
4/7/08    4.60    100,000,000    98,025,000 
8/13/08    4.59    186,000,000    186,354,640 
8/22/08    4.62    28,925,000    28,729,421 
Federal Home Loan Mortgage Corp.:             
12/10/07    5.17    100,000,000    99,449,667 
2/21/08    4.55    22,310,000    22,304,794 
8/4/08    4.30    37,061,000    37,044,791 
8/15/08    4.60    48,855,000    48,809,774 
Federal National Mortgage Association:             
11/7/07    5.20    327,252,000    326,972,139 
11/21/07    5.20    29,282,000    29,198,709 
11/28/07    5.20    59,033,000    58,806,313 
12/5/07    5.18    123,412,000    122,817,566 
1/11/08    4.53    12,120,000    12,123,704 
1/11/08    4.53    152,760,000    152,806,679 
2/28/08    4.50    20,000,000    19,707,128 
Total U.S. Government Agencies             
(cost $7,861,233,886)            7,861,233,886 

U.S. Treasury Bills--.5%             
11/23/07             
(cost $49,913,222)    2.86    50,000,000    49,913,222 
 
Repurchase Agreements--24.2%             
Banc of America Securities LLC             
dated 10/31/07, due 11/1/07 in the amount of             
$209,028,563 (fully collateralized by $229,209,970             
Federal Home Loan Mortgage Corp., 0%-9.30%, due             
7/15/21-8/15/37, value $59,477,867, $666,801,882             
Federal National Mortgage Association, 0%-13.409%,             
due 1/25/13-10/25/37, value $101,475,195 and             
$146,905,772 Government National Mortgage Association,         
0%-14.43%, due 5/15/22-2/16/47, value $52,226,939)    4.92    209,000,000    209,000,000 
Bear Stearns Cos. Inc.             
dated 10/31/07, due 11/1/07 in the amount of             
$180,024,700 (fully collateralized by $2,522,774,193             
Federal Home Loan Mortgage Corp., .05%-11%, due             
4/15/11-5/25/43, value $86,403,650, $1,845,141,087             
Federal National Mortgage Association, 0%-21.958%, due             
7/25/17-4/25/43, value $72,070,446 and $955,426,425,             
Government National Mortgage Association, 0%-5.29%,             
due 3/16/23-10/20/37, value $25,125,924)    4.94    180,000,000    180,000,000 
Credit Suisse (USA) Inc.             
dated 10/31/07, due 11/1/07 in the amount of             
$400,055,111 (fully collateralized by $410,750,000             
Federal Home Loan Mortgage Corp., 5.50%, due 10/1/37,             
value $408,003,370)    4.96    400,000,000    400,000,000 
Deutsche Bank Securities             
dated 10/31/07, due 11/1/07 in the amount of             
$400,055,000 (fully collateralized by $314,176,843             
Federal Home Loan Mortgage Corp., 4.757%-6.50%, due             
4/1/35-10/1/37, value $288,348,130, $94,016,863             
Federal National Mortgage Association, 4.557%-6.119%,             
due 3/1/12-6/1/47, value $66,997,635 and $204,824,652             
Government National Mortgage Association, 5.50%-7%,             
due 1/15/36-10/15/37, value $52,654,235)    4.95    400,000,000    400,000,000 
Greenwich Capital Markets             
dated 10/31/07, due 11/1/07 in the amount of             
$400,054,889 (fully collateralized by $1,059,586,576             
Federal Home Loan Mortgage Corp., 0%-8.873%, due             
2/15/22-10/15/37, value $234,960,427, $249,388,370             
Federal National Mortgage Association, 0%-3.838%, due             
4/25/24-8/25/37, value $146,478,550 and $46,198,489             
Government National Morgage Association, 0%, due             
2/20/34-10/16/37, value $26,564,287)    4.94    400,000,000    400,000,000 
HSBC USA Inc             
dated 10/31/07, due 11/1/07 in the amount of             
$400,055,000 (fully collateralized by $324,164,497             
Federal Home Loan Mortgage Corp., 0%-9.053%, due             
11/15/07-3/15/37, value $194,041,334, $521,235,633             
Federal National Mortgage Association, 0%-33.985%, due             

7/25/17-1/25/48, value $172,668,313 and $40,926,884             
Government National Mortgage Association, 6%, due             
10/15/37-10/20/37, value $41,293,167)    4.95    400,000,000    400,000,000 
Merrill Lynch & Co. Inc.             
dated 10/31/07, due 11/1/07 in the amount of             
$400,054,778 (fully collateralized by $568,321,425             
Federal Home Loan Mortgage Corp., 0%-6%, due             
5/15/22-10/15/37, value $52,925,944, $358,037,090             
Federal National Mortgage Association, 0%-6%, due             
3/25/18-1/25/39, value $45,948,612 and $304,405,000             
Government National Mortgage Association, 6%, due             
10/15/37, value $309,126,710)    4.93    400,000,000    400,000,000 
Morgan Stanley             
dated 10/31/07, due 11/1/07 in the amount of             
$100,013,667 (fully collateralized by $101,535,000             
Federal Agricultural Mortgage Corp., 4.875%-5.50%, due         
1/14/11-4/19/17, value $102,503,094)    4.92    100,000,000    100,000,000 
UBS Securities LLC             
dated 10/31/07, due 11/1/07 in the amount of             
$29,003,971 (fully collateralized by $50,585,860             
Federal National Mortgage Association, 4.50%-5.50%,             
due 7/1/20-6/1/33, value $29,580,450)    4.93    29,000,000    29,000,000 
Total Repurchase Agreements             
(cost $2,518,000,000)            2,518,000,000 
Total Investments (cost $10,429,147,108)        100.3%    10,429,147,108 
Liabilities, Less Cash and Receivables        (.3%)    (34,656,996) 
Net Assets        100.0%    10,394,490,112 

a Variable rate security--interest rate subject to periodic change.

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

STATEMENT OF INVESTMENTS         
Dreyfus Government Prime Cash Management         
October 31, 2007 (Unaudited)             
 
    Annualized         
    Yield on Date    Principal     
U.S. Government Agencies--104.3%    of Purchase (%)    Amount ($)    Value ($) 
Federal Farm Credit Bank:             
11/6/07    4.70    60,000,000 a    60,000,000 
11/9/07    4.75    50,000,000 a    49,999,787 
11/12/07    4.94    100,000,000 a    100,000,000 
12/31/07    4.62    20,030,000    19,877,438 
1/2/08    4.62    44,925,000    44,571,415 
4/1/08    4.70    50,000,000 a    50,000,000 
4/11/08    4.74    100,000,000 a    99,987,093 
5/27/08    4.74    100,000,000 a    99,988,377 
6/9/08    4.71    60,000,000 a    60,000,000 
7/21/08    4.76    50,000,000 a    49,993,112 
8/7/08    4.69    5,500,000 a    5,498,821 
8/21/08    4.71    10,000,000 a    10,000,489 
11/17/08    4.71    100,000,000 a    99,992,416 
4/24/09    4.78    100,000,000 a    100,000,000 
Federal Home Loan Bank System:             
11/1/07    4.40    224,000,000    224,000,000 
11/2/07    4.96    210,000,000    209,971,331 
11/7/07    5.19    60,000,000    59,948,800 
11/9/07    5.20    150,000,000    149,828,944 
11/14/07    4.74    50,000,000    49,915,049 
11/16/07    5.20    49,061,000    48,956,132 
11/23/07    5.02    125,000,000    124,621,111 
12/17/07    5.53    130,000,000 a    129,956,763 
12/22/07    5.06    19,700,000 a    19,696,464 
1/16/08    4.70    150,000,000    148,527,500 
2/22/08    4.98    165,000,000    162,477,746 
3/5/08    4.98    109,000,000    107,160,625 
3/10/08    4.74    50,000,000    49,164,028 
3/24/08    5.18    5,000,000    4,954,384 
8/15/08    4.58    2,000,000    2,011,464 
8/25/08    4.60    77,440,000    77,598,927 
9/17/08    4.37    100,000,000    100,274,200 
Total Investments (cost $2,518,972,416)        104.3%    2,518,972,416 
Liabilities, Less Cash and Receivables        (4.3%)    (104,026,685) 
Net Assets        100.0%    2,414,945,731 

a Variable rate security--interest rate subject to periodic change.

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

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 Government Cash Management Funds

By:    /s/ J. David Officer 
    J. David Officer 
    President 
 
Date:    December 18, 2007 
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 
1940, this Report has been signed below by the following persons on behalf of the Registrant and in the 
capacities and on the dates indicated. 
 
By:    /s/ J. David Officer 
    J. David Officer 
    President 
 
Date:    December 18, 2007 
 
By:    /s/ James Windels 
    James Windels 
    Treasurer 
 
Date:    December 18, 2007 
 
EXHIBIT INDEX
 
    (a) Certifications of principal executive and principal financial officers as required by Rule 30a- 
    2(a) under the Investment Company Act of 1940. (EX-99.CERT)