<PAGE> PAGE 1
000 B000000 08/31/99
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007 C010300 3
007 C020300 CALIFORNIA TAX FREE INTERMEDIATE FUND
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<PAGE> PAGE 2
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012 C02AA01 WI
012 C03AA01 53201
013 A00AA01 TAIT WELLER AND BAKER
013 B01AA01 PHILADELPHIA
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<PAGE> PAGE 3
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<PAGE> PAGE 4
037 00AA00 N
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039 00AA00 N
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048 K02AA00 0.000
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
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060 B00AA00 Y
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066 A00AA00 N
<PAGE> PAGE 5
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
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070 H01AA00 N
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070 I01AA00 N
070 I02AA00 N
070 J01AA00 N
070 J02AA00 N
070 K01AA00 N
070 K02AA00 N
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
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<PAGE> PAGE 6
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<PAGE> PAGE 7
049 000100 N
050 000100 N
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052 000100 N
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054 A000100 Y
054 B000100 Y
054 C000100 N
054 D000100 N
054 E000100 N
054 F000100 N
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054 H000100 Y
054 I000100 N
054 J000100 N
054 K000100 N
054 L000100 N
054 M000100 Y
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
049 000200 N
050 000200 N
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
050 000300 N
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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SIGNATURE STEVE ROGERS
TITLE FUND MANAGER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<LEGEND>
THE FOLLOWING FDS HAS BEEN ROUNDED TO THE NEAREST THOUSAND
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<CIK> 0000778206
<NAME> CALIFORNIA INVESTMENT TRUST
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<NAME> CALIFORNIA TAX FREE INCOME FUND
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE FOLLOWING FDS HAS BEEN ROUNDED TO THE NEAREST THOUSAND
</LEGEND>
<CIK> 0000778206
<NAME> CALIFORNIA INVESTMENT TRUST
<SERIES>
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<NAME> CALIFORNIA TAX FREE MONEY MARKET FUND
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE FOLLOWING FDS HAS BEEN ROUNDED TO THE NEAREST THOUSAND
</LEGEND>
<CIK> 0000778206
<NAME> CALIFORNIA INVESTMENT TRUST
<SERIES>
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<NAME> CALIFORNIA INSURED INTERMEDIATE FUND
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<S> <C>
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REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON INTERNAL CONTROL STRUCTURE
Board of Trustees
California Investment Trust
San Francisco, California
In planning and performing our audits of the financial statements of California
Tax-Free Money Market Fund, California Tax-Free Income Fund, and California
Insured Tax-Free Income Fund, each a series of shares of beneficial interest of
California Investment Trust (the "Funds"), for the year ended August 31, 1999,
we considered its internal control structure, including procedures for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply with
the requirements of Form N-SAR, not to provide assurance on the internal control
structure.
The management of the Funds is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition, and that transactions are executed in
accordance with management's authorization and recorded properly to permit
preparation of financial statements in conformity with generally accepted
accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses, as defined above, as of
August 31, 1999.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission, and should not be used for any other
purpose.
TAIT, WELLER & BAKER
Philadelphia, Pennsylvania
October 1, 1999
