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<PAGE> PAGE 2
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<PAGE> PAGE 3
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SIGNATURE PAUL BUCUVALAS
TITLE MANAGING DIRECTOR
Page
The Board of Trustees
Putnam California Tax Exempt Money Market Fund
In planning and performing our audit of the financial
statements of Putnam California Tax Exempt Money Market Fund
for the year ended September 30, 1999, we considered its
internal control, including control activities 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 internal control.
The management of Putnam California Tax Exempt Money Market
Fund is responsible for establishing and maintaining internal
control. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected
benefits and related costs of controls. Generally, controls
that are relevant to an audit pertain to the entity's
objective of preparing financial statements for external
purposes that are fairly presented in conformity with
generally accepted accounting principles. Those controls
include the safeguarding of assets against unauthorized
acquisition, use or disposition.
Because of inherent limitations in internal control, errors or
irregularities may occur and not be detected. Also,
projection of any evaluation of internal control to future
periods is subject to the risks that it may become inadequate
because of changes in conditions or that the effectiveness of
the design and operation may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control 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 one or more of the internal control components
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 internal control and
its operation, including controls for safeguarding securities,
that we consider to be material weaknesses as defined above.
This report is intended solely for the information and use of
management, the Board of Trustees of Putnam California Tax
Exempt Money Market Fund, and the Securities and Exchange
Commission and is not intended to be and should not be used by
anyone other than these specified parties.
KPMG LLP
Boston, Massachusetts
November 9, 1999
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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Putnam California Tax Eexmpt Money Market Fund
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<NAME> CLASS A
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<PERIOD-TYPE> ANNUAL
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<PERIOD-END> SEP-30-1999
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<INVESTMENTS-AT-VALUE> 28,908,179
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<ACCUMULATED-NII-PRIOR> 0
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