N-Q 1 form289.htm FORM N-Q form289.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  811-3964 

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:  10/31/09   


FORM N-Q

Item 1.  Schedule of Investments. 

-2-


STATEMENT OF INVESTMENTS 
Dreyfus Government Cash Management 
October 31, 2009 (Unaudited) 

  Annualized     
  Yield on Date  Principal   
U.S. Government Agencies--56.0%  of Purchase (%)  Amount ($)  Value ($) 
Federal Farm Credit Bank       
       3/9/10                                 0.48  200,000,000 a  200,000,000 
Federal Home Loan Bank:       
       11/2/09                                 0.36  500,000,000 a  500,000,000 
       11/2/09                                 0.31  197,500,000 a  197,500,000 
       11/10/09                                 0.41  500,000,000 a  499,972,643 
       11/12/09                                 0.55  9,790,000  9,790,551 
       11/20/09                                 0.30  201,519,000  201,487,093 
       11/24/09                                 0.25  971,250,000 a  971,050,144 
       11/25/09                                 0.30  101,409,000  101,388,718 
       11/27/09                                 0.30  282,100,000  282,038,878 
       12/1/09                                 0.56  500,000,000  499,766,667 
       12/3/09                                 0.32  200,000,000  199,998,210 
       12/23/09                                 0.04  25,000,000  25,013,897 
       12/23/09                                 0.35  124,750,000  124,686,932 
       12/30/09                                 0.35  25,000,000  24,985,660 
       1/6/10                                 0.30  366,000,000  365,798,700 
       1/11/10                                 0.30  254,623,000  254,472,348 
       1/15/10                                 0.53  262,980,000  263,155,504 
       1/15/10                                 0.58  121,650,000  122,468,816 
       1/16/10                                 0.23  1,000,000,000 a  1,000,000,000 
       1/20/10                                 0.33  500,000,000  499,975,646 
       2/1/10                                 0.40  67,220,000  67,151,286 
       2/4/10                                 0.40  50,000,000  49,947,222 
       2/4/10                                 0.31  134,320,000  135,282,163 
       2/5/10                                 0.30  200,000,000  200,001,541 
       2/5/10                                 0.50  402,350,000  402,338,722 
       2/10/10                                 0.58  224,624,000  224,258,487 
       2/18/10                                 0.42  2,300,000  2,304,072 
       2/26/10                                 0.42  22,950,000  22,946,374 


       4/30/10  0.70  128,000,000  127,994,887 
       6/11/10  0.23  400,000,000  406,651,072 
       10/15/10  0.45  32,900,000  32,888,824 
       11/15/10  0.42  50,000,000  50,296,090 
Federal Home Loan Mortgage Corp.:                                  
       11/16/09  0.30  24,029,000 b  24,025,996 
       11/16/09  0.25  281,600,000 b  281,879,040 
       11/17/09  0.16   250,000,000 a,b  249,992,343 
       11/23/09  0.30  95,000,000 b  94,982,583 
       12/15/09  0.35  150,000,000 b  150,655,012 
       12/21/09  0.32  279,820,000 b  279,694,289 
       12/28/09  0.35  94,753,000 b  94,700,491 
       1/4/10  0.30  107,902,000 b  107,844,452 
       1/19/10  0.31  771,500,000 b  770,975,166 
       2/1/10  0.29  48,591,000 b  48,554,989 
       2/8/10  0.35  1,054,870,000 b  1,053,852,901 
       2/22/10  0.40  88,079,000 b  87,968,412 
       3/23/10  0.25  275,000,000 b  274,734,243 
       4/6/10  0.23  217,760,000 b  217,542,966 
       4/7/10  0.22  250,000,000 b  249,760,139 
       4/12/10  0.23  300,000,000 b  299,689,500 
       4/19/10  0.17  347,883,000 b  347,605,370 
       4/20/10  0.17  111,183,000 b  111,093,745 
       4/26/10  0.17  48,000,000 b  47,960,107 
       5/3/10  0.24  149,000,000 b  148,818,220 
       5/17/10  0.43  750,000,000 b  748,235,208 
Federal National Mortgage Association:       
       11/25/09  0.30  275,627,000 b  275,571,875 
       12/16/09  0.33  15,000,000 b  14,993,813 
       12/22/09  0.53  250,000,000 b  249,812,292 
       12/23/09  0.32  275,000,000 b  274,872,167 
       12/28/09  0.33  28,420,000 b  28,405,151 
       12/29/09  0.60  100,000,000 b  99,903,333 
       2/3/10  0.29  356,700,000 b  356,432,695 
       2/4/10  0.31  75,000,000 b  75,537,241 
       2/10/10  0.29  158,575,000 b  158,448,206 
       2/22/10  0.47  1,062,752,000 b  1,061,200,267 


       4/1/10  0.22  15,000,000 b  14,986,158 
Total U.S. Government Agencies       
       (cost $16,366,339,517)      16,366,339,517 
 
 
U.S. Treasury Notes--2.2%       
         6/1/10       
       (cost $633,494,201)  0.27  625,000,000  633,494,201 
 
 
Repurchase Agreements--39.9%       
Banc of America Securities LLC       
       dated 10/30/09, due 11/2/09 in the amount of       
       $500,002,500 (fully collateralized by $25,000,000       
       Federal Home Loan Bank, 0.55%, due 3/17/11, value       
       $25,039,924, $23,681,000 Federal Home Loan Mortgage       
       Corp., 5.25%, due 7/18/11, value $25,831,590,       
       $155,166,000 Federal National Mortgage Association,       
       0%-5.80%, due 8/10/12-10/23/26, value $153,129,381,       
       116,172,300 Treasury Inflation Protected Securities,       
       3.375%, due 4/15/32, value $172,983,668 and       
       $119,552,500 U.S. Treasury Notes, 4.75%, due 8/15/17,       
       value $133,016,476)  0.06  500,000,000  500,000,000 
Barclays Financial LLC       
       dated 10/30/09, due 11/2/09 in the amount of       
       $1,037,005,185 (fully collateralized by $149,129,400       
       U.S. Treasury Bonds, 8.50%, due 2/15/20, value       
       $213,916,334 and $847,947,400 U.S. Treasury Notes,       
       1.50%-3.25%, due 12/31/13-5/31/16, value $843,823,761)  0.06  1,037,000,000  1,037,000,000 
BNP Paribas       
       dated 10/30/09, due 11/2/09 in the amount of       
       $1,200,006,000 (fully collateralized by $366,125,800       
       U.S. Treasury Bills, due 3/18/10, value $365,975,689,       
       $236,973,600 U.S. Treasury Bonds, 8.125%, due       
       8/15/19, value $330,480,987 and $525,358,400 U.S.       
       Treasury Notes, 0.875%, due 3/31/11, value       
       $527,543,446)  0.06  1,200,000,000  1,200,000,000 
Calyon Securities (USA)       
       dated 10/30/09, due 11/2/09 in the amount of       
       $2,640,015,400 (fully collateralized by $350,000,000       
       Federal Farm Credit Bank, 2.04%-4.25%, due       
       9/17/12-1/22/19, value $349,219,111, $1,312,000,000       


       Federal Home Loan Bank, 0.70%-2.10%, due       
       3/30/10-8/10/12, value $1,320,919,813, $47,676,000       
       Federal National Mortgage Association, 5.125%, due       
       1/2/14, value $51,352,373 and $927,422,700 U.S.       
       Treasury Notes, 1.375%-4.875%, due 5/15/10-8/15/19,       
       value $971,308,736)  0.07  2,640,000,000  2,640,000,000 
Citigroup Global Markets Holdings Inc.       
       dated 10/30/09, due 11/2/09 in the amount of       
       $100,000,417 (fully collateralized by $101,685,000       
       Federal Home Loan Bank, 0.75%, due 9/30/10, value       
       $102,002,766)  0.05  100,000,000  100,000,000 
Credit Suisse (USA) Inc.       
       dated 10/30/09, due 11/2/09 in the amount of       
       $114,000,570 (fully collateralized by $116,381,000       
       U.S. Treasury Bills, due 12/31/09-10/21/10, value       
       $116,280,329)  0.06  114,000,000  114,000,000 
Credit Suisse (USA) Inc.       
       dated 10/30/09, due 11/2/09 in the amount of       
       $162,000,945 (fully collateralized by $34,858,000       
       Federal Home Loan Bank, 0%, due 11/2/09-4/19/10,       
       value $34,853,821, $61,635,000 Federal Home Loan       
       Mortgage Corp., 0%, due 4/26/10, value $61,591,856       
       and $69,161,000 Federal National Mortgage       
       Association, 0%, due 11/4/09-7/19/10, value       
       $68,797,587)  0.07  162,000,000  162,000,000 
Deutsche Bank Securities       
       dated 10/30/09, due 11/2/09 in the amount of       
       $1,380,005,750 (fully collateralized by $4,334,000       
       Financing Corp., Strips, due 8/8/10-10/6/10, value       
       $4,292,996, $6,395,000 Resolution Funding Corp.,Strips, due       
       1/15/11-10/15/20, value $4,511,930, $635,478,800       
       Treasury Inflation Protected Securities, 0.625%-2%,       
       due 4/15/13-7/15/19, value $701,483,461, $259,469,500       
       U.S Treasury Bills, due 1/14/10-4/15/10, value       
       $259,375,997, $143,551,900 U.S. Treasury Bonds, 8%,       
       due 11/15/21, value $205,474,697 and $210,190,500       
       U.S. Treasury Notes, 4.25%-4.875%, due       
       6/30/12-11/15/14, value $232,460,937)  0.05  1,380,000,000  1,380,000,000 
Goldman, Sachs & Co.       
       dated 10/30/09, due 11/2/09 in the amount of       
       $60,000,100 (fully collateralized by $59,352,800 U.S.       


       Treasury Notes, 2.50%, due 3/31/13, value $61,200,004)  0.02  60,000,000  60,000,000 
Goldman, Sachs & Co.       
       dated 10/30/09, due 11/2/09 in the amount of       
       $600,003,000 (fully collateralized by $285,785,000       
       Federal Home Loan Bank, 0.40%-5%, due       
       5/20/10-8/20/13, value $286,491,526 and $304,227,000       
       Federal National Mortgage Association, 4.375%, due       
       10/15/15, value $325,508,566)  0.06  600,000,000  600,000,000 
HSBC USA Inc.       
       dated 10/30/09, due 11/2/09 in the amount of       
       $1,082,004,508 (fully collateralized by $599,934,800       
       U.S. Treasury Bonds, 4.75%-7.875%, due       
       2/15/21-2/15/37, value $781,287,865 and $321,034,000       
       U.S. Treasury Notes, 0.875%-3%, due 1/31/11-9/30/16,       
       value $322,353,055)  0.05  1,082,000,000  1,082,000,000 
JP Morgan Chase & Co.       
       dated 10/30/09, due 11/2/09 in the amount of       
       $200,000,833 (fully collateralized by $336,098,000       
       U.S. Treasury Strips, due 5/15/21-11/15/21, value       
       $204,002,435)  0.05  200,000,000  200,000,000 
Morgan Stanley       
       dated 10/30/09, due 11/2/09 in the amount of       
       $500,002,500 (fully collateralized by $507,905,000       
       Federal Home Loan Bank, 0.50%-6.375%, due       
       8/25/10-10/26/29, value $514,509,499)  0.06  500,000,000  500,000,000 
RBC Capital Markets       
       dated 10/30/09, due 11/2/09 in the amount of       
       $243,001,418 (fully collateralized by $11,339,000       
       Federal Farm Credit Bank, 2.29%, due 4/22/13, value       
       $11,358,944, $127,470,000 Federal Home Loan Bank,       
       0.375%-5.125%, due 5/18/10-10/15/24, value       
       $134,296,320, $50,732,000 Federal Home Loan Mortgage       
       Corp., 3.625%-5%, due 7/25/11-8/25/14, value       
       $51,794,159 and $50,455,000 Federal National Mortgage       
       Association, 0%-4%, due 4/28/10-10/30/24, value       
       $50,410,804)  0.07  243,000,000  243,000,000 
RBS Securities       
       dated 10/30/09, due 11/2/09 in the amount of       
       $600,003,500 (fully collateralized by $700,000       
       Inter-American Development Bank, 3%, due 4/22/14,       
       value $712,059, $25,100,000 International Bank for       
       Reconstruction and Development, 1.40%-2%, due       


       4/14/11-4/2/12, value $25,396,854, $202,500,000     
       International Finance Corp., 2%, due 10/29/12, value     
       $201,062,856 and $381,715,000 U.S. Treasury Notes,     
       1.375%, due 5/15/12, value $384,828,746)  0.07  600,000,000  600,000,000 
RBS Securities       
       dated 10/30/09, due 11/2/09 in the amount of       
       $500,002,500 (fully collateralized by $504,236,600     
       U.S. Treasury Notes, 1.375%-3.625%, due       
       5/15/12-8/15/19, value $510,004,129)  0.06  500,000,000  500,000,000 
Societe Generale       
       dated 10/30/09, due 11/2/09 in the amount of       
       $500,002,500 (fully collateralized by $50,000,000       
       Federal Home Loan Bank, 1.25%, due 12/30/10, value     
       $50,364,833 and $460,868,500 U.S. Treasury Bills, due     
       8/26/10, value $459,720,938)  0.06  500,000,000  500,000,000 
UBS Securities LLC       
       dated 10/30/09, due 11/2/09 in the amount of       
       $250,001,042 (fully collateralized by $255,114,500     
       U.S. Treasury Bills, due 12/3/09-6/17/10, value       
       $255,003,185)  0.05  250,000,000  250,000,000 
Total Repurchase Agreements       
       (cost $11,668,000,000)      11,668,000,000 
 
Asset-Backed Commercial Paper--1.9%       
Straight-A Funding LLC       
       12/8/09  0.23  98,446,000 c  98,422,729 
       12/16/09  0.23  50,000,000 c  49,985,625 
       12/16/09  0.23  149,741,000 c  149,697,949 
       12/16/09  0.23  71,000,000 c  70,979,587 
       12/16/09  0.23  100,408,000 c  100,379,133 
       12/17/09  0.23  75,000,000 c  74,977,958 
Total Asset Backed Commercial Paper       
       (cost $544,442,981)      544,442,981 
Total Investments (cost $29,212,276,699)    100.0%  29,212,276,699 
Cash and Receivables (Net)    .0%  14,232,078 
Net Assets    100.0%  29,226,508,777 

a      Variable rate security--interest rate subject to periodic change.
b      On September 7, 2008, the Federal Housing Finance Agency (FHFA) placed Federal National Mortgage Association and Federal

  Home Loan Mortgage Corporation into conservatorship with FHFA as the conservator. As such, the FHFA will oversee the continuing affairs of these companies.
c      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, 2009, these securities amounted to $544,442,981 or 1.9% of net assets.

At October 31, 2009, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.


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 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 Investment 
Company Act of 1940. 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. 
The following is a summary of the inputs used as of October 31, 2009 in valuing the fund's investments: 

Valuation Inputs  Short-Term Investments ($)+ 
Level 1 - Unadjusted Quoted Prices  - 
Level 2 - Other Significant Observable Inputs  29,212,276,699 
Level 3 - Significant Unobservable Inputs  - 
Total  29,212,276,699 
 
+ See Statement of Investments for additional detailed categorizations. 


The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) has become 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 Codification has superseded all existing non-SEC accounting and reporting standards. 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.

It is the portfolio’s policy to maintain a continuous net asset value per share of $1.00; the portfolio has adopted certain investment, portfolio valuation and dividend and distribution policies to enable it to do so. There is no assurance, however, that the portfolio will be able to maintain a stable net asset value per share of $1.00.

Portfolio valuation: Investments in securities are valued at amortized cost in accordance with Rule 2a-7 of the Act, which has been determined by the Board of Trustees to represent the fair value of the portfolio’s investments.

The portfolio may enter into repurchase agreements with financial institutions, deemed to be creditworthy by the Manager, subject to the seller’s agreement to repurchase and the portfolio’s agreement to resell such securities at a mutually agreed upon price. Securities purchased subject to repurchase agreements are deposited with the portfolio’s custodian and, pursuant to the terms of the repurchase agreement, must have an aggregate market value greater than or equal to the terms of the repurchase price plus accrued interest at all times. If the value of the underlying securities falls below the value of the repurchase price plus accrued interest, the portfolio will require the seller to deposit additional collateral by the next business day. If the request for additional collateral is not met, or the seller defaults on its repurchase


obligation, the portfolio maintains its right to sell the underlying securities at market value and may claim any resulting loss against the seller.

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 Government Prime Cash Management 
October 31, 2009 (Unaudited) 

  Annualized     
  Yield on Date  Principal   
U.S. Government Agencies--88.0%  of Purchase (%)  Amount ($)  Value ($) 
Federal Farm Credit Bank:       
       11/5/09                                 0.30  328,000,000 a  328,144,421 
       11/28/09                                 0.25  412,000,000 a  411,950,610 
       12/21/09                                 0.45  100,000,000 a  99,987,729 
       3/12/10                                 0.95  50,000,000 a  49,893,224 
       5/4/10                                 0.43  19,000,000  19,218,790 
       5/7/10                                 0.37  30,859,000  31,534,615 
Federal Home Loan Bank:       
       11/2/09                                 0.02  514,000,000  513,999,714 
       11/2/09                                 0.36  250,000,000 a  250,000,000 
       11/4/09                                 0.07  516,264,000  516,260,960 
       11/6/09                                 0.09  149,000,000  148,998,138 
       11/13/09                                 0.29  47,000,000  46,995,457 
       11/18/09                                 0.29  17,957,000  17,954,541 
       11/25/09                                 0.30  7,000,000  6,998,623 
       11/27/09                                 0.29  50,000,000  49,989,527 
       12/4/09                                 0.30  23,900,000  23,893,428 
       12/9/09                                 0.82  30,000,000  30,000,000 
       12/11/09                                 0.14  87,662,000  87,648,364 
       12/11/09                                 0.83  73,250,000  73,579,468 
       12/14/09                                 0.32  114,750,000  114,706,140 
       12/16/09                                 0.14  80,400,000  80,385,930 
       12/18/09                                 0.14  231,938,000  231,895,607 
       12/18/09                                 0.67  12,000,000  12,041,229 
       12/23/09                                 0.67  16,250,000  16,251,536 
       12/28/09                                 0.35  200,000,000  199,889,167 
       12/30/09                                 0.41  427,455,000  427,171,889 
       1/13/10                                 0.10  100,000,000  99,979,722 
       1/15/10                                 0.30  150,000,000  149,906,250 
       1/21/10                                 0.08  300,000,000  299,946,000 


       1/22/10  0.30  200,000,000  199,863,333 
       3/12/10  0.57  10,000,000  10,074,709 
       3/17/10  0.53  14,070,000  14,272,214 
       5/11/10  0.46  50,000,000  50,003,883 
       5/12/10  0.47  4,450,000  4,453,583 
       5/12/10  0.43  32,500,000  33,186,176 
       5/14/10  0.42  45,000,000  46,051,432 
       5/14/10  0.39  9,950,000  10,328,063 
       6/11/10  0.23  45,000,000  45,748,374 
Total U.S. Government Agencies                           
       (cost $4,753,202,846)      4,753,202,846 
 
U.S. Treasury Bills--8.3%       
       12/3/09  0.29  200,000,000  199,948,444 
       12/31/09  0.13  250,000,000  249,945,833 
Total U.S. Treasury Bills       
       (cost $449,894,277)      449,894,277 
 
U.S. Treasury Notes--3.6%       
         2/16/10       
       (cost $196,820,734)  0.28  195,000,000  196,820,734 
Total Investments (cost $5,399,917,857)    99.9%  5,399,917,857 
Cash and Receivables (Net)    .1%  6,539,979 
Net Assets    100.0%  5,406,457,836 

a Variable rate security--interest rate subject to periodic change. 
 
At October 31, 2009, the cost of investments for federal income tax purposes was substantially the same as the cost for financial 
reporting purposes. 


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 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 Investment 
Company Act of 1940. 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. 
The following is a summary of the inputs used as of October 31, 2009 in valuing the fund's investments: 

Valuation Inputs  Short-Term Investments ($)+ 
Level 1 - Unadjusted Quoted Prices  - 
Level 2 - Other Significant Observable Inputs  5,399,917,857 
Level 3 - Significant Unobservable Inputs  - 
Total  5,399,917,857 
 
+ See Statement of Investments for additional detailed categorizations. 


The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) has become 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 Codification has superseded all existing non-SEC accounting and reporting standards. 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.

It is the portfolio’s policy to maintain a continuous net asset value per share of $1.00; the portfolio has adopted certain investment, portfolio valuation and dividend and distribution policies to enable it to do so. There is no assurance, however, that the portfolio will be able to maintain a stable net asset value per share of $1.00.

Portfolio valuation: Investments in securities are valued at amortized cost in accordance with Rule 2a-7 of the Act, which has been determined by the Board of Trustees to represent the fair value of the portfolio’s investments.

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.

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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 23, 2009 

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 23, 2009 

By:  /s/ James Windels 
  James Windels 
Treasurer           
 
Date:  December 23, 2009 

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)

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