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<PAGE> PAGE 2
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SIGNATURE JEROME L. DUFFY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<MULTIPLIER> 1000
<S> <C>
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</TABLE>
SUPPLEMENTARY REPORT OF INDEPENDENT AUDITORS
Board of Trustees
Tax-Exempt California Money Market Fund
In planning and performing our audit of the financial statements of
Tax-Exempt California Money Market Fund for the year ended September
30, 1994, 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 Tax-Exempt California Money Market Fund is
responsible for establishing and maintaining an internal control
structure. In fulfilling this responsibility, estimates and
judgements 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 September 30, 1994.
This report is intended solely for the information and use of
management and the Securities and Exchange Commission.
Chicago, Illinois Ernst & Young LLP
October 24, 1994
KEMPER FINANCIAL SERVICES, INC.
120 S. LaSalle Street, Chicago, IL 60603 312/781-1121
November 28, 1994
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Attn: Filing Desk, Stop 1-4
Re: TAX-EXEMPT CALIFORNIA MONEY MARKET FUND
(FILE NOS. 33-12938 AND 811-5076)
Dear Sir or Madam:
Enclosed pursuant to Rule 30b-1 under the Investment Company Act of 1940 is the
Form N-SAR for the above-referenced Registrant for the twelve-month period ended
September 30, 1994. A wire in the amount of $125 for the filing fee has been
sent to the Mellon Bank.
Very truly yours,
Maureen A. Miller
Associate Counsel
MAM/lkw
Enclosures
cc: Mr. Philip J. Collora/KFS
