DREYFUS INSTITUTIONAL PREFERRED MONEY MARKET FUND
485BPOS, EX-99.(J), 2000-10-12
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                                                   Exhibit (j)

                        CONSENT OF INDEPENDENT AUDITORS

We consent to the reference to our firm under the captions "Financial
Highlights" and "Counsel and Independent Auditors" and to the use of our report
dated May 5, 2000, which is incorporated by reference, in this Registration
Statement (Form N-1A No. 333-26513) of Dreyfus Institutional Preferred Money
Market Funds.

                                        ERNST & YOUNG LLP
New York, New York
October 11, 2000


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