<PAGE> PAGE 1
000 A000000 12/31/94
000 C000000 0000739243
000 D000000 N
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000 J000000 A
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001 B000000 811-3946
001 C000000 2127131074
002 A000000 1285 AVENUE OF THE AMERICAS
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10019
003 000000 N
004 000000 N
005 000000 N
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008 A00AA01 PAINEWEBBER, INC.
008 B00AA01 A
008 C00AA01 801-01763
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10019
008 A00AA02 MITCHELL HUTCHINS ASSET MANAGEMENT, INC.
008 B00AA02 S
008 C00AA02 801-13219
008 D01AA02 NEW YORK
008 D02AA02 NY
008 D03AA02 10019
010 A00AA01 PAINEWEBBER, INC.
010 B00AA01 801-07163
010 C01AA01 NEW YORK
<PAGE> PAGE 2
010 C02AA01 NY
010 C03AA01 10019
011 A00AA01 PAINEWEBBER, INC.
011 B00AA01 8-16267
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10019
012 A00AA01 PROVIDENT NATIONAL BANK
012 B00AA01 85-0000000
012 C01AA01 WILMINGTON
012 C02AA01 DE
012 C03AA01 19809
013 A00AA01 ERNST & YOUNG LLP
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013 B02AA01 NY
013 B03AA01 10019
014 A00AA01 PAINEWEBBER, INC.
014 B00AA01 8-16267
015 A00AA01 STATE STREET BANK & TRUST CO.
015 B00AA01 C
015 C01AA01 NORTH QUINCY
015 C02AA01 MA
015 C03AA01 02171
015 E01AA01 X
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022 A000001 GOLDMAN SACHS
022 B000001 13-5108880
022 C000001 265660
022 D000001 25160
022 A000002 SMITH BARNEY SHEARSON, INC.
022 B000002 13-3371860
022 C000002 174519
022 D000002 98013
022 A000003 MORGAN STANLEY & CO., INC.
022 B000003 13-2655998
022 C000003 181007
022 D000003 24380
<PAGE> PAGE 3
022 A000004 MERRILL LYNCH PIERCE FENNER
022 B000004 13-5674085
022 C000004 125285
022 D000004 41194
022 A000005 J.P. MORGAN SECURITIES, INC.
022 B000005 13-3224016
022 C000005 61881
022 D000005 37785
022 A000006 NUVEEN (JOHN) & COMPANY
022 B000006 36-2639476
022 C000006 23420
022 D000006 35220
022 A000007 CHEMICAL SECURITIES, INC.
022 B000007 13-3379014
022 C000007 32327
022 D000007 26256
022 A000008 PRUDENTIAL SECURITIES
022 C000008 13726
022 D000008 6700
022 A000009 FIRST BOSTON CORP.
022 B000009 13-5659485
022 C000009 18000
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022 B000010 13-4941247
022 C000010 4620
022 D000010 7875
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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SIGNATURE JULIAN SLUYTERS
TITLE TREASURER
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<PAGE>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> PAINEWEBBER RMA CALIFORNIA MUNICIPAL MONEY FUND
<MULTIPLIER> 1,000
<S> <C>
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<FISCAL-YEAR-END> JUN-30-1994
<PERIOD-START> JUL-01-1994
<PERIOD-END> DEC-31-1994
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<INVESTMENTS-AT-VALUE> 299,431
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<OVERDISTRIBUTION-GAINS> 0
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<NET-INVESTMENT-INCOME> 4,071
<REALIZED-GAINS-CURRENT> (24)
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<NUMBER-OF-SHARES-REDEEMED> 766,234
<SHARES-REINVESTED> 3,899
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<PAGE>
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<NAME> PAINEWEBBER RMA NY MUNICIPAL MONEY FUND
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<S> <C>
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<PAGE>
EXHIBIT 99
Rule 10f-3
Record of Municipal Securities Purchased Under the Fund's Rule 10f-3 Procedures
Fund Name: PW RMA California Municipal Money
1. Issuer: California State
2. Date of purchase: 7-27-94
3. Date offering commenced: 7-27-94
4. Underwriter from whom purchased: Bank of America
5. Affiliated Underwriter: PaineWebber
6. Aggregate principal amount of purchase: $4.2MM
7. Aggregate principal amount of offering: $3B
8. Purchase price (net of fees and expenses): 100,707
9. Initial public offering price: 100,707
10. Commission, spread or profit: $1.77
11. Have the following conditions been satisfied? YES NO
A. The securities are part of an issue registered under the
Securities Act of 1933 which is being offered to the
public or are "municipal securities" as defined in
Section 3(a)(29) of the Securities Exchange Act of 1934. [X] [_]
B. The securities were purchased prior to the end of the
first full business day of the offering at not more than
the initial offering price (or, if a rights offering,
the securities were purchased on or before the fourth
day preceding the day on which the offering terminated). [X] [_]
C. The underwriting was a firm commitment underwriting. [X] [_]
D. The commission, spread or profit was reasonable and fair
in relation to that being received by others for
underwriting similar securities during the same period. [X] [_]
E. The issue of securities has received an investment grade
rating from a nationally recognized statistical rating
organization or, if the issuer or entity supplying the
revenues from which the issue is to be paid shall have
been in continuous operation for less than three years
(including any predecessor), it has received one of the
three highest ratings from at least one such rating
organization. [X] [_]
F. The amount of such securities purchased by all of the
investment companies advised by Mitchell Hutchins did
not exceed 4% of the principal amount of the offering or
$500,000 in principal amount, whichever is greater,
provided that in no event did such amount exceed 10% of
the principal amount of the offering.
G. The purchase price was less than 3% of the Fund's total
assets. [X] [_]
H. No affiliated Underwriter was a direct or indirect
participant in or beneficiary of the sale or, with
respect to municipal securities, no purchases were
designated as group sales or otherwise allocated to the
account of any affiliated Underwriter. [X] [_]
Approved by: /s/ Cynthia N. Bow Date: 7-28-94
