<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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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
070 I022100 N
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
045 002200 Y
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<PAGE> PAGE 12
070 L012200 N
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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<PAGE> PAGE 50
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<PAGE> PAGE 51
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<PAGE> PAGE 52
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<PAGE> PAGE 53
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<PAGE> PAGE 54
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<PAGE> PAGE 55
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<PAGE> PAGE 56
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<PAGE> PAGE 57
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<PAGE> PAGE 58
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<PAGE> PAGE 59
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<PAGE> PAGE 60
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<PAGE> PAGE 61
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<PAGE> PAGE 62
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<PAGE> PAGE 63
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<PAGE> PAGE 64
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<PAGE> PAGE 65
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<PAGE> PAGE 66
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<PAGE> PAGE 67
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<PAGE> PAGE 68
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<PAGE> PAGE 69
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SIGNATURE STEPHANIE ABRUZZESE
TITLE LEGAL ASSISTANT
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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<NAME> ILA PRIME OBLIGATIONS PORTFOLIO-CLASS B
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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<NAME> ILA PRIME OBLIGATIONS PORTFOLIO-CLASS C
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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<NAME> ILA TAX-EXEMPT NEW YORK PORTFOLIO-ADMINISTRATION
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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SUCH FINANCIAL STATEMENTS.
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<SERIES>
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<NAME> ILA TAX-EXEMPT NEW YORK PORTFOLIO-SERVICE
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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SUCH FINANCIAL STATEMENTS.
</LEGEND>
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<NAME> ILA TAX-EXEMPT CALIFORNIA PORTFOLIO-INSTITUTIONAL
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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<SERIES>
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<NAME> ILA TAX-EXEMPT CALIFORNIA PORTFOLIO-ADMINISTRATION
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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SUCH FINANCIAL STATEMENTS.
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THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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<EXPENSE-RATIO> .32
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 275
<NAME> ILA TAX-EXEMPT DIVERSIFIED PORTFOLIO-ADMINISTRATION
<S> <C>
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<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
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<EXPENSES-NET> 5,463,530
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<NUMBER-OF-SHARES-REDEEMED> (9,951,681,538)
<SHARES-REINVESTED> 43,365,293
<NET-CHANGE-IN-ASSETS> (64,494,975)
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<ACCUMULATED-GAINS-PRIOR> 0
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<OVERDIST-NET-GAINS-PRIOR> (244,390)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7,008,463
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<PER-SHARE-NAV-END> 1.00
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 276
<NAME> ILA TAX-EXEMPT DIVERSIFIED PORTFOLIO-SERVICE
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 1,592,350,288
<INVESTMENTS-AT-VALUE> 1,592,350,288
<RECEIVABLES> 10,043,125
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<OTHER-ITEMS-LIABILITIES> 5,706,560
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<ACCUMULATED-NET-GAINS> 0
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<NET-ASSETS> 1,537,965,838
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<EXPENSES-NET> 5,463,530
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<NUMBER-OF-SHARES-SOLD> 9,843,836,580
<NUMBER-OF-SHARES-REDEEMED> (9,951,681,538)
<SHARES-REINVESTED> 43,365,293
<NET-CHANGE-IN-ASSETS> (64,494,975)
<ACCUMULATED-NII-PRIOR> 362,642
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (244,390)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7,008,463
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<PER-SHARE-NAV-END> 1.00
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</TABLE>
<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCT TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 263
<NAME> ILA FEDERAL PORTFOLIO-INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,694,905,170
<INVESTMENTS-AT-VALUE> 2,694,905,170
<RECEIVABLES> 7,279,210
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<TOTAL-ASSETS> 2,702,440,992
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<SENIOR-LONG-TERM-DEBT> 0
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<ACCUMULATED-NET-GAINS> 383
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<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,615,099,863
<DIVIDEND-INCOME> 0
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<NET-INVESTMENT-INCOME> 142,229,502
<REALIZED-GAINS-CURRENT> 74,776
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<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16,814,872,375
<NUMBER-OF-SHARES-REDEEMED> (17,593,694,622)
<SHARES-REINVESTED> 103,222,618
<NET-CHANGE-IN-ASSETS> (675,530,413)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (68,833)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12,572,336
<AVERAGE-NET-ASSETS> 2,730,223,241
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .053
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.053)
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 265
<NAME> ILA FEDERAL PORTFOLIO-ADMINISTRATION
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,694,905,170
<INVESTMENTS-AT-VALUE> 2,694,905,170
<RECEIVABLES> 7,279,210
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<TOTAL-ASSETS> 2,702,440,992
<PAYABLE-FOR-SECURITIES> 75,000,000
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<TOTAL-LIABILITIES> 87,341,129
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<ACCUMULATED-NET-GAINS> 383
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,615,099,863
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 150,831,476
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<NET-INVESTMENT-INCOME> 142,229,502
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<NUMBER-OF-SHARES-SOLD> 16,814,872,375
<NUMBER-OF-SHARES-REDEEMED> (17,593,694,622)
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<ACCUMULATED-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 12,572,336
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<PER-SHARE-DIVIDEND> (.051)
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<PER-SHARE-NAV-END> 1.00
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 266
<NAME> ILA FEDERAL PORTFOLIO-SERVICE
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,694,905,170
<INVESTMENTS-AT-VALUE> 2,694,905,170
<RECEIVABLES> 7,279,210
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<NET-ASSETS> 2,615,099,863
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<NUMBER-OF-SHARES-SOLD> 16,814,872,375
<NUMBER-OF-SHARES-REDEEMED> (17,593,694,622)
<SHARES-REINVESTED> 103,222,618
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<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
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</TABLE>
<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 253
<NAME> ILA TREASURY INSTRUMENTS PORTFOLIO-INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
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<NET-ASSETS> 724,311,542
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</TABLE>
<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 255
<NAME> ILA TREASURY INSTRUMENTS PORTFOLIO-ADMINISTRATION
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</TABLE>
<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 256
<NAME> ILA TREASURY INSTRUMENTS PORTFOLIO-SERVICE
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<NUMBER-OF-SHARES-REDEEMED> (4,193,476,260)
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<NET-CHANGE-IN-ASSETS> (506,294,141)
<ACCUMULATED-NII-PRIOR> 0
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<PER-SHARE-DIVIDEND> (.046)
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<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 243
<NAME> ILA TREASURY OBLIGATIONS PORTFOLIO-INSTITUTIONAL
<S> <C>
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<PERIOD-START> JAN-01-1997
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<EXPENSES-NET> 3,872,328
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<DISTRIBUTIONS-OF-GAINS> (72,833)
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<NUMBER-OF-SHARES-SOLD> 5,211,063,367
<NUMBER-OF-SHARES-REDEEMED> (5,212,556,500)
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<NET-CHANGE-IN-ASSETS> 11,606,725
<ACCUMULATED-NII-PRIOR> 0
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</TABLE>
<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 245
<NAME> ILA TREASURY OBLIGATIONS PORTFOLIO-ADMINISTRATION
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
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<OVERDISTRIBUTION-GAINS> (4,632)
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<DISTRIBUTIONS-OF-GAINS> (14,954)
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<NUMBER-OF-SHARES-SOLD> 5,211,063,367
<NUMBER-OF-SHARES-REDEEMED> (5,212,556,500)
<SHARES-REINVESTED> 13,130,596
<NET-CHANGE-IN-ASSETS> 11,606,725
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 2,682,436
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,879,084
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<PER-SHARE-NAV-BEGIN> 1.00
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<PER-SHARE-GAIN-APPREC> .001
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
ANNUAL REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 246
<NAME> ILA TREASURY OBLIGATIONS PORTFOLIO-SERVICE
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
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<INVESTMENTS-AT-COST> 819,773,645
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (4,632)
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<NET-ASSETS> 818,673,275
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<DISTRIBUTIONS-OF-GAINS> (16,329)
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<NUMBER-OF-SHARES-SOLD> 5,211,063,367
<NUMBER-OF-SHARES-REDEEMED> (5,212,556,500)
<SHARES-REINVESTED> 13,130,596
<NET-CHANGE-IN-ASSETS> 11,606,725
<ACCUMULATED-NII-PRIOR> 0
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<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,879,084
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<PER-SHARE-NAV-END> 1.00
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 233
<NAME> ILA GOVERNMENT PORTFOLIO-INSTITUTIONAL
<S> <C>
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<INVESTMENTS-AT-COST> 565,903,253
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<RECEIVABLES> 3,028,806
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 554,448,116
<DIVIDEND-INCOME> 0
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<EXPENSES-NET> 3,097,691
<NET-INVESTMENT-INCOME> 32,889,284
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<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> (48,379)
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<NUMBER-OF-SHARES-SOLD> 3,631,302,781
<NUMBER-OF-SHARES-REDEEMED> (3,919,007,935)
<SHARES-REINVESTED> 17,235,209
<NET-CHANGE-IN-ASSETS> (270,485,835)
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<GROSS-ADVISORY-FEES> 2,258,653
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<GROSS-EXPENSE> 3,128,681
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<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .42
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 235
<NAME> ILA GOVERNMENT PORTFOLIO-ADMINISTRATION
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<FISCAL-YEAR-END> DEC-31-1997
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<INVESTMENTS-AT-COST> 565,903,253
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<NET-ASSETS> 554,448,116
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<EXPENSES-NET> 3,097,691
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<NUMBER-OF-SHARES-SOLD> 3,631,302,781
<NUMBER-OF-SHARES-REDEEMED> (3,919,007,935)
<SHARES-REINVESTED> 17,235,209
<NET-CHANGE-IN-ASSETS> (270,485,835)
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<INTEREST-EXPENSE> 0
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<PER-SHARE-NAV-END> 1.00
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 236
<NAME> ILA GOVERNMENT PORTFOLIO-SERVICE
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<INVESTMENTS-AT-COST> 565,903,253
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<NUMBER-OF-SHARES-SOLD> 3,631,302,781
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<NET-CHANGE-IN-ASSETS> (270,485,835)
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</TABLE>
<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 223
<NAME> ILA MONEY MARKET PORTFOLIO-INSTITUTIONAL
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<NET-ASSETS> 1,134,092,697
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<PER-SHARE-DIVIDEND> (.053)
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<PER-SHARE-NAV-END> 1.00
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 225
<NAME> ILA MONEY MARKET PORTFOLIO-ADMINISTRATION
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<INVESTMENTS-AT-COST> 1,147,485,683
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,134,092,697
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 69,192,244
<OTHER-INCOME> 0
<EXPENSES-NET> 5,031,414
<NET-INVESTMENT-INCOME> 64,160,830
<REALIZED-GAINS-CURRENT> 7,828
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<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> (2,008)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,177,000,201
<NUMBER-OF-SHARES-REDEEMED> (10,086,895,886)
<SHARES-REINVESTED> 54,788,884
<NET-CHANGE-IN-ASSETS> 144,892,790
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 409
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,269,169
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,623,695
<AVERAGE-NET-ASSETS> 1,219,762,617
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .052
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.052)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .52
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 226
<NAME> ILA MONEY MARKET PORTFOLIO-SERVICE
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 1,147,485,683
<INVESTMENTS-AT-VALUE> 1,147,485,683
<RECEIVABLES> 8,003,135
<ASSETS-OTHER> 95,381
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,155,584,199
<PAYABLE-FOR-SECURITIES> 14,988,553
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,492,949
<TOTAL-LIABILITIES> 21,491,502
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,134,092,697
<SHARES-COMMON-STOCK> 20,516,513
<SHARES-COMMON-PRIOR> 28,844,514
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,134,092,697
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 69,192,244
<OTHER-INCOME> 0
<EXPENSES-NET> 5,031,414
<NET-INVESTMENT-INCOME> 64,160,830
<REALIZED-GAINS-CURRENT> 7,828
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 64,168,658
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,166,022)
<DISTRIBUTIONS-OF-GAINS> (150)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,177,000,201
<NUMBER-OF-SHARES-REDEEMED> (10,086,895,886)
<SHARES-REINVESTED> 54,788,884
<NET-CHANGE-IN-ASSETS> 144,892,790
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 409
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,269,169
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,623,695
<AVERAGE-NET-ASSETS> 1,219,762,617
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .049
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.049)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .77
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 423
<NAME> FINANCIAL SQUARE PREMIUM MONEY MARKET FUND-INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> 5-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> AUG-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 226,904,703
<INVESTMENTS-AT-VALUE> 226,904,703
<RECEIVABLES> 391,533
<ASSETS-OTHER> 134,784
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 227,431,020
<PAYABLE-FOR-SECURITIES> 4,999,518
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,410,213
<TOTAL-LIABILITIES> 6,409,731
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 221,021,289
<SHARES-COMMON-STOCK> 218,192,392
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 221,021,289
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,265,812
<OTHER-INCOME> 0
<EXPENSES-NET> (71,760)
<NET-INVESTMENT-INCOME> 4,194,052
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4,194,052
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,890,656)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,075,863,230
<NUMBER-OF-SHARES-REDEEMED> (856,337,659)
<SHARES-REINVESTED> 1,495,718
<NET-CHANGE-IN-ASSETS> 221,021,289
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 154,238
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 340,068
<AVERAGE-NET-ASSETS> 179,489,031
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .024
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.024)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .08
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT
DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 424
<NAME> FINANCIAL SQUARE PREMIUM MONEY MARKET FUND-PREFERRED
<S> <C>
<PERIOD-TYPE> 5-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> AUG-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 226,904,703
<INVESTMENTS-AT-VALUE> 226,904,703
<RECEIVABLES> 391,533
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<TOTAL-ASSETS> 227,431,020
<PAYABLE-FOR-SECURITIES> 4,999,518
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<OTHER-ITEMS-LIABILITIES> 1,410,213
<TOTAL-LIABILITIES> 6,409,731
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 221,021,289
<SHARES-COMMON-STOCK> 557,827
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 221,021,289
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,265,812
<OTHER-INCOME> 0
<EXPENSES-NET> (71,760)
<NET-INVESTMENT-INCOME> 4,194,052
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4,194,052
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,210)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,075,863,230
<NUMBER-OF-SHARES-REDEEMED> (856,337,659)
<SHARES-REINVESTED> 1,495,718
<NET-CHANGE-IN-ASSETS> 221,021,289
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 154,238
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 340,068
<AVERAGE-NET-ASSETS> 179,489,031
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .023
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.023)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .18
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 425
<NAME> FINANCIAL SQUARE PREMIUM MONEY MARKET FUND-ADMINISTRATION
<S> <C>
<PERIOD-TYPE> 5-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> AUG-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 226,904,703
<INVESTMENTS-AT-VALUE> 226,904,703
<RECEIVABLES> 391,533
<ASSETS-OTHER> 134,784
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 227,431,020
<PAYABLE-FOR-SECURITIES> 4,999,518
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,410,213
<TOTAL-LIABILITIES> 6,409,731
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 221,021,289
<SHARES-COMMON-STOCK> 1,456,698
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 221,021,289
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,265,812
<OTHER-INCOME> 0
<EXPENSES-NET> (71,760)
<NET-INVESTMENT-INCOME> 4,194,052
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4,194,052
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (295,011)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,075,863,230
<NUMBER-OF-SHARES-REDEEMED> (856,337,659)
<SHARES-REINVESTED> 1,495,718
<NET-CHANGE-IN-ASSETS> 221,021,289
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 154,238
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 340,068
<AVERAGE-NET-ASSETS> 179,489,031
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .022
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.022)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .33
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 426
<NAME> FINANCIAL SQUARE PREMIUM MONEY MARKET FUND-SERVICE
<S> <C>
<PERIOD-TYPE> 5-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> AUG-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 226,904,703
<INVESTMENTS-AT-VALUE> 226,904,703
<RECEIVABLES> 391,533
<ASSETS-OTHER> 134,784
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 227,431,020
<PAYABLE-FOR-SECURITIES> 4,999,518
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,410,213
<TOTAL-LIABILITIES> 6,409,731
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 221,021,289
<SHARES-COMMON-STOCK> 814,372
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 221,021,289
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,265,812
<OTHER-INCOME> 0
<EXPENSES-NET> (71,760)
<NET-INVESTMENT-INCOME> 4,194,052
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4,194,052
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,175)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,075,863,230
<NUMBER-OF-SHARES-REDEEMED> (856,337,659)
<SHARES-REINVESTED> 1,495,718
<NET-CHANGE-IN-ASSETS> 221,021,289
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 154,238
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 340,068
<AVERAGE-NET-ASSETS> 179,489,031
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .022
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.022)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .58
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 413
<NAME> FINANCIAL SQUARE TAX-FREE MONEY MARKET FUND-INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 1,188,671,470
<INVESTMENTS-AT-VALUE> 1,188,671,470
<RECEIVABLES> 7,168,593
<ASSETS-OTHER> 632,409
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,196,472,472
<PAYABLE-FOR-SECURITIES> 72,470,257
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,816,052
<TOTAL-LIABILITIES> 76,286,309
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,120,201,103
<SHARES-COMMON-STOCK> 939,421,140
<SHARES-COMMON-PRIOR> 440,850,118
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (14,940)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,120,186,163
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 30,453,737
<OTHER-INCOME> 0
<EXPENSES-NET> (1,917,391)
<NET-INVESTMENT-INCOME> 28,536,346
<REALIZED-GAINS-CURRENT> (2,081)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 28,534,265
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (23,828,347)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 6,856,129,085
<NUMBER-OF-SHARES-REDEEMED> (6,285,421,492)
<SHARES-REINVESTED> 8,395,593
<NET-CHANGE-IN-ASSETS> 579,101,105
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (12,859)
<GROSS-ADVISORY-FEES> 1,694,448
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,373,357
<AVERAGE-NET-ASSETS> 826,559,717
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .035
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.035)
<PER-SHARE-DISTRIBUTIONS> 0
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<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .18
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTIANS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT
DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 414
<NAME> FINANCIAL SQUARE TAX-FREE MONEY MARKET FUND-PREFERRED
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 1,188,671,470
<INVESTMENTS-AT-VALUE> 1,188,671,470
<RECEIVABLES> 7,168,593
<ASSETS-OTHER> 632,409
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,196,472,472
<PAYABLE-FOR-SECURITIES> 72,470,257
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<OTHER-ITEMS-LIABILITIES> 3,816,052
<TOTAL-LIABILITIES> 76,286,309
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<PAID-IN-CAPITAL-COMMON> 1,120,201,103
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<SHARES-COMMON-PRIOR> 28,730,558
<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (14,940)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,120,186,163
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 30,453,737
<OTHER-INCOME> 0
<EXPENSES-NET> (1,917,391)
<NET-INVESTMENT-INCOME> 28,536,346
<REALIZED-GAINS-CURRENT> (2,081)
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<NET-CHANGE-FROM-OPS> 28,534,265
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (542,008)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,856,129,085
<NUMBER-OF-SHARES-REDEEMED> (6,285,421,492)
<SHARES-REINVESTED> 8,395,593
<NET-CHANGE-IN-ASSETS> 579,101,105
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (12,859)
<GROSS-ADVISORY-FEES> 1,694,448
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,373,357
<AVERAGE-NET-ASSETS> 826,559,717
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .039
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.039)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .28
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 415
<NAME> FINANCIAL SQUARE TAX-FREE MONEY MARKET FUND-ADMINISTRATION
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 1,188,671,470
<INVESTMENTS-AT-VALUE> 1,188,671,470
<RECEIVABLES> 7,168,593
<ASSETS-OTHER> 632,409
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,196,472,472
<PAYABLE-FOR-SECURITIES> 72,470,257
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,816,052
<TOTAL-LIABILITIES> 76,286,309
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,120,201,103
<SHARES-COMMON-STOCK> 103,049,763
<SHARES-COMMON-PRIOR> 51,661,795
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (14,940)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,120,186,163
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 30,453,737
<OTHER-INCOME> 0
<EXPENSES-NET> (1,917,391)
<NET-INVESTMENT-INCOME> 28,536,346
<REALIZED-GAINS-CURRENT> (2,081)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 28,534,265
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,161,663)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,856,129,085
<NUMBER-OF-SHARES-REDEEMED> (6,285,421,492)
<SHARES-REINVESTED> 8,395,593
<NET-CHANGE-IN-ASSETS> 579,101,105
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (12,859)
<GROSS-ADVISORY-FEES> 1,694,448
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,373,357
<AVERAGE-NET-ASSETS> 826,559,717
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .033
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.033)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .43
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT
DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 416
<NAME> FINANCIAL SQUARE TAX-FREE MONEY MARKET FUND-SERVICE
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 1,188,671,470
<INVESTMENTS-AT-VALUE> 1,188,671,470
<RECEIVABLES> 7,168,593
<ASSETS-OTHER> 632,409
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,196,472,472
<PAYABLE-FOR-SECURITIES> 72,470,257
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,816,052
<TOTAL-LIABILITIES> 76,286,309
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,120,201,103
<SHARES-COMMON-STOCK> 42,578,537
<SHARES-COMMON-PRIOR> 19,855,446
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (14,940)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,120,186,163
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 30,453,737
<OTHER-INCOME> 0
<EXPENSES-NET> (1,917,391)
<NET-INVESTMENT-INCOME> 28,536,346
<REALIZED-GAINS-CURRENT> (2,081)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 28,534,265
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,004,328)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,856,129,085
<NUMBER-OF-SHARES-REDEEMED> (6,285,421,492)
<SHARES-REINVESTED> 8,395,593
<NET-CHANGE-IN-ASSETS> 579,101,105
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (12,859)
<GROSS-ADVISORY-FEES> 1,694,448
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,373,357
<AVERAGE-NET-ASSETS> 826,559,717
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .030
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.030)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 403
<NAME> FINANCIAL SQUARE GOVERNMENT FUND-INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,404,187,810
<INVESTMENTS-AT-VALUE> 2,404,187,810
<RECEIVABLES> 9,708,940
<ASSETS-OTHER> 382,881
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,414,279,631
<PAYABLE-FOR-SECURITIES> 35,917,844
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12,671,674
<TOTAL-LIABILITIES> 48,589,518
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,365,690,113
<SHARES-COMMON-STOCK> 1,478,535,045
<SHARES-COMMON-PRIOR> 858,743,905
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,365,690,113
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 117,069,858
<OTHER-INCOME> 0
<EXPENSES-NET> (6,988,452)
<NET-INVESTMENT-INCOME> 110,081,406
<REALIZED-GAINS-CURRENT> 127,727
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 110,209,133
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (70,362,803)
<DISTRIBUTIONS-OF-GAINS> (94,763)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20,842,203,467
<NUMBER-OF-SHARES-REDEEMED> (19,734,267,186)
<SHARES-REINVESTED> 30,237,427
<NET-CHANGE-IN-ASSETS> 1,138,147,224
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 26,484
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,296,324
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,234,531
<AVERAGE-NET-ASSETS> 2,095,767,912
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .054
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.054)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .18
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 404
<NAME> FINANCIAL SQUARE GOVERNMENT FUND-PREFERRED
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,404,187,810
<INVESTMENTS-AT-VALUE> 2,404,187,810
<RECEIVABLES> 9,708,940
<ASSETS-OTHER> 382,881
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,414,279,631
<PAYABLE-FOR-SECURITIES> 35,917,844
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12,671,674
<TOTAL-LIABILITIES> 48,589,518
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,365,690,113
<SHARES-COMMON-STOCK> 7,146,792
<SHARES-COMMON-PRIOR> 112,430
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,365,690,113
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 117,069,858
<OTHER-INCOME> 0
<EXPENSES-NET> (6,988,452)
<NET-INVESTMENT-INCOME> 110,081,406
<REALIZED-GAINS-CURRENT> 127,727
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 110,209,133
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,492,230)
<DISTRIBUTIONS-OF-GAINS> (1,310)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20,842,203,467
<NUMBER-OF-SHARES-REDEEMED> (19,734,267,186)
<SHARES-REINVESTED> 30,237,427
<NET-CHANGE-IN-ASSETS> 1,138,147,224
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 26,484
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,296,324
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,234,531
<AVERAGE-NET-ASSETS> 2,095,767,912
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .053
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.053)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .28
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 405
<NAME> FINANCIAL SQUARE GOVERNMENT FUND-ADMINISTRATION
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,404,187,810
<INVESTMENTS-AT-VALUE> 2,404,187,810
<RECEIVABLES> 9,708,940
<ASSETS-OTHER> 382,881
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,414,279,631
<PAYABLE-FOR-SECURITIES> 35,917,844
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12,671,674
<TOTAL-LIABILITIES> 48,589,518
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,365,690,113
<SHARES-COMMON-STOCK> 299,801,906
<SHARES-COMMON-PRIOR> 145,103,169
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,365,690,113
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 117,069,858
<OTHER-INCOME> 0
<EXPENSES-NET> (6,988,452)
<NET-INVESTMENT-INCOME> 110,081,406
<REALIZED-GAINS-CURRENT> 127,727
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 110,209,133
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (13,365,067)
<DISTRIBUTIONS-OF-GAINS> (15,668)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20,842,203,467
<NUMBER-OF-SHARES-REDEEMED> (19,734,267,186)
<SHARES-REINVESTED> 30,237,427
<NET-CHANGE-IN-ASSETS> 1,138,147,224
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 26,484
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,296,324
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,234,531
<AVERAGE-NET-ASSETS> 2,095,767,912
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .052
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.052)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .43
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT
DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 406
<NAME> FINANCIAL SQUARE GOVERNMENT FUND-SERVICE
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,404,187,810
<INVESTMENTS-AT-VALUE> 2,404,187,810
<RECEIVABLES> 9,708,940
<ASSETS-OTHER> 382,881
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,414,279,631
<PAYABLE-FOR-SECURITIES> 35,917,844
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12,671,674
<TOTAL-LIABILITIES> 48,589,518
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,365,690,113
<SHARES-COMMON-STOCK> 580,206,370
<SHARES-COMMON-PRIOR> 223,556,901
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,365,690,113
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 117,069,858
<OTHER-INCOME> 0
<EXPENSES-NET> (6,988,452)
<NET-INVESTMENT-INCOME> 110,081,406
<REALIZED-GAINS-CURRENT> 127,727
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 110,209,113
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (24,861,306)
<DISTRIBUTIONS-OF-GAINS> (42,470)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20,842,203,467
<NUMBER-OF-SHARES-REDEEMED> (19,734,267,186)
<SHARES-REINVESTED> 30,237,427
<NET-CHANGE-IN-ASSETS> 1,138,147,224
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 26,484
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,296,324
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,234,531
<AVERAGE-NET-ASSETS> 2,095,767,912
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .050
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.050)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 393
<NAME> FINANCIAL SQUARE FEDERAL FUND-INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> 10-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> FEB-28-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,229,360,388
<INVESTMENTS-AT-VALUE> 2,229,360,388
<RECEIVABLES> 3,566,555
<ASSETS-OTHER> 52,297
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,232,979,240
<PAYABLE-FOR-SECURITIES> 50,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,141,803
<TOTAL-LIABILITIES> 59,141,803
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,173,836,797
<SHARES-COMMON-STOCK> 1,125,680,906
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 8,313
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (7,673)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,173,837,437
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 53,521,252
<OTHER-INCOME> 0
<EXPENSES-NET> (2,625,517)
<NET-INVESTMENT-INCOME> 50,895,735
<REALIZED-GAINS-CURRENT> (7,673)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 50,888,062
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (35,377,629)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,175,698,490
<NUMBER-OF-SHARES-REDEEMED> (5,019,147,768)
<SHARES-REINVESTED> 17,286,075
<NET-CHANGE-IN-ASSETS> 2,173,837,437
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,967,724
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,537,139
<AVERAGE-NET-ASSETS> 1,141,207,981
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .045
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.045)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .18
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 394
<NAME> FINANCIAL SQUARE FEDERAL FUND-PREFERRED
<S> <C>
<PERIOD-TYPE> 7-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAY-30-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,229,360,388
<INVESTMENTS-AT-VALUE> 2,229,360,388
<RECEIVABLES> 3,566,555
<ASSETS-OTHER> 52,297
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,232,979,240
<PAYABLE-FOR-SECURITIES> 50,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,141,803
<TOTAL-LIABILITIES> 59,141,803
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,173,836,797
<SHARES-COMMON-STOCK> 194,374,977
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 8,313
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (7,673)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,173,837,437
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 53,521,252
<OTHER-INCOME> 0
<EXPENSES-NET> (2,625,517)
<NET-INVESTMENT-INCOME> 50,895,735
<REALIZED-GAINS-CURRENT> (7,673)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 50,888,062
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,504,242)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,175,698,490
<NUMBER-OF-SHARES-REDEEMED> (5,019,147,768)
<SHARES-REINVESTED> 17,286,075
<NET-CHANGE-IN-ASSETS> 2,173,837,437
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,967,724
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,537,139
<AVERAGE-NET-ASSETS> 1,141,207,981
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .031
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.031)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .28
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 395
<NAME> FINANCIAL SQUARE FEDERAL FUND-ADMINISTRATION
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> APR-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,229,360,388
<INVESTMENTS-AT-VALUE> 2,229,360,388
<RECEIVABLES> 3,566,555
<ASSETS-OTHER> 52,297
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,232,979,240
<PAYABLE-FOR-SECURITIES> 50,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,141,803
<TOTAL-LIABILITIES> 59,141,803
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<PAID-IN-CAPITAL-COMMON> 2,173,836,797
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<ACCUMULATED-NII-CURRENT> 8,313
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (7,673)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,173,837,437
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 53,521,252
<OTHER-INCOME> 0
<EXPENSES-NET> (2,625,517)
<NET-INVESTMENT-INCOME> 50,895,735
<REALIZED-GAINS-CURRENT> (7,673)
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<NET-CHANGE-FROM-OPS> 50,888,062
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,278,709)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,175,698,490
<NUMBER-OF-SHARES-REDEEMED> (5,019,147,768)
<SHARES-REINVESTED> 17,286,075
<NET-CHANGE-IN-ASSETS> 2,173,837,437
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,967,724
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,537,139
<AVERAGE-NET-ASSETS> 1,141,207,981
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .039
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.039)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .43
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 396
<NAME> FINANCIAL SQUARE FEDERAL FUND-SERVICE
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAR-25-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 2,229,360,388
<INVESTMENTS-AT-VALUE> 2,229,360,388
<RECEIVABLES> 3,566,555
<ASSETS-OTHER> 52,297
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,232,979,240
<PAYABLE-FOR-SECURITIES> 50,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,141,803
<TOTAL-LIABILITIES> 59,141,803
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,173,836,797
<SHARES-COMMON-STOCK> 228,446,969
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<ACCUMULATED-NII-CURRENT> 8,313
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (7,673)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,173,837,437
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 53,521,252
<OTHER-INCOME> 0
<EXPENSES-NET> (2,625,517)
<NET-INVESTMENT-INCOME> 50,895,735
<REALIZED-GAINS-CURRENT> (7,673)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 50,888,062
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,726,842)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,175,698,490
<NUMBER-OF-SHARES-REDEEMED> (5,019,147,768)
<SHARES-REINVESTED> 17,286,075
<NET-CHANGE-IN-ASSETS> 2,173,837,437
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,967,724
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,537,139
<AVERAGE-NET-ASSETS> 1,141,207,981
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .038
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.038)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 383
<NAME> FINANCIAL SQUARE TREASURY INSTRUMENTS FUND-INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> 10-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAR-03-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 516,935,549
<INVESTMENTS-AT-VALUE> 516,935,549
<RECEIVABLES> 5,333,790
<ASSETS-OTHER> 70,699
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 522,340,038
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,583,022
<TOTAL-LIABILITIES> 1,583,022
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 520,755,638
<SHARES-COMMON-STOCK> 496,418,745
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,378
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 520,757,016
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 11,914,704
<OTHER-INCOME> 0
<EXPENSES-NET> (526,642)
<NET-INVESTMENT-INCOME> 11,388,062
<REALIZED-GAINS-CURRENT> 89,851
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 11,477,913
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10,293,085)
<DISTRIBUTIONS-OF-GAINS> (78,370)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,886,752,702
<NUMBER-OF-SHARES-REDEEMED> (1,368,998,334)
<SHARES-REINVESTED> 3,001,270
<NET-CHANGE-IN-ASSETS> 520,755,638
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 463,681
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 769,619
<AVERAGE-NET-ASSETS> 271,571,837
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .042
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.042)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .18
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 384
<NAME> FINANCIAL SQUARE TREASURY INSTRUMENTS FUND-PREFERRED
<S> <C>
<PERIOD-TYPE> 7-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAY-30-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 516,935,549
<INVESTMENTS-AT-VALUE> 516,935,549
<RECEIVABLES> 5,333,790
<ASSETS-OTHER> 70,699
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 522,340,038
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,583,022
<TOTAL-LIABILITIES> 1,583,022
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 520,755,638
<SHARES-COMMON-STOCK> 1,539
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,378
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 520,757,016
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 11,914,704
<OTHER-INCOME> 0
<EXPENSES-NET> (526,642)
<NET-INVESTMENT-INCOME> 11,388,062
<REALIZED-GAINS-CURRENT> 89,851
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 11,477,913
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (45)
<DISTRIBUTIONS-OF-GAINS> (1)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,886,752,702
<NUMBER-OF-SHARES-REDEEMED> (1,368,998,334)
<SHARES-REINVESTED> 3,001,270
<NET-CHANGE-IN-ASSETS> 520,755,638
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 463,681
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 769,619
<AVERAGE-NET-ASSETS> 271,571,837
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .030
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.030)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .28
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 385
<NAME> FINANCIAL SQUARE TREASURY INSTRUMENTS FUND-ADMINISTRATION
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> APR-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 516,935,549
<INVESTMENTS-AT-VALUE> 516,935,549
<RECEIVABLES> 5,333,790
<ASSETS-OTHER> 70,699
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 522,340,038
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,583,022
<TOTAL-LIABILITIES> 1,583,022
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 520,755,638
<SHARES-COMMON-STOCK> 4,159,015
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,378
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 520,757,016
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 11,914,704
<OTHER-INCOME> 0
<EXPENSES-NET> (526,642)
<NET-INVESTMENT-INCOME> 11,388,062
<REALIZED-GAINS-CURRENT> 89,851
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 11,477,913
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (62,666)
<DISTRIBUTIONS-OF-GAINS> (459)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,886,752,702
<NUMBER-OF-SHARES-REDEEMED> (1,368,998,334)
<SHARES-REINVESTED> 3,001,270
<NET-CHANGE-IN-ASSETS> 520,755,638
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 463,681
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 769,619
<AVERAGE-NET-ASSETS> 271,571,837
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .036
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.036)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .43
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 386
<NAME> FINANCIAL SQUARE TREASURY INSTRUMENTS FUND-SERVICE
<S> <C>
<PERIOD-TYPE> 10-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAR-05-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 516,935,549
<INVESTMENTS-AT-VALUE> 516,935,549
<RECEIVABLES> 5,333,790
<ASSETS-OTHER> 70,699
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 522,340,038
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,583,022
<TOTAL-LIABILITIES> 1,583,022
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 520,755,638
<SHARES-COMMON-STOCK> 20,176,339
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,378
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 520,757,016
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 11,914,704
<OTHER-INCOME> 0
<EXPENSES-NET> (526,642)
<NET-INVESTMENT-INCOME> 11,388,062
<REALIZED-GAINS-CURRENT> 89,851
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 11,477,913
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,032,266)
<DISTRIBUTIONS-OF-GAINS> (9,643)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,886,752,702
<NUMBER-OF-SHARES-REDEEMED> (1,368,998,334)
<SHARES-REINVESTED> 3,001,270
<NET-CHANGE-IN-ASSETS> 520,755,638
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 463,681
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 769,619
<AVERAGE-NET-ASSETS> 271,571,837
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .038
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.038)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 373
<NAME> FINANCIAL SQUARE TREASURY OBLIGATIONS FUND-INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 3,522,502,423
<INVESTMENTS-AT-VALUE> 3,522,502,423
<RECEIVABLES> 10,248,818
<ASSETS-OTHER> 14,370
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,532,765,611
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,611,568
<TOTAL-LIABILITIES> 17,611,568
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,515,154,043
<SHARES-COMMON-STOCK> 2,217,903,808
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<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 3,515,154,043
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 173,797,289
<OTHER-INCOME> 0
<EXPENSES-NET> (8,698,309)
<NET-INVESTMENT-INCOME> 165,098,980
<REALIZED-GAINS-CURRENT> 300,712
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 165,399,692
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (112,020,839)
<DISTRIBUTIONS-OF-GAINS> (253,465)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 30,901,418,469
<NUMBER-OF-SHARES-REDEEMED> (30,543,252,110)
<SHARES-REINVESTED> 61,924,789
<NET-CHANGE-IN-ASSETS> 420,091,148
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 80,038
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,427,023
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,369,851
<AVERAGE-NET-ASSETS> 3,135,133,049
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .054
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.054)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .18
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 374
<NAME> FINANCIAL SQUARE TREASURY OBLIGATIONS FUND-PREFERRED
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 3,522,502,423
<INVESTMENTS-AT-VALUE> 3,522,502,423
<RECEIVABLES> 10,248,818
<ASSETS-OTHER> 14,370
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<TOTAL-ASSETS> 3,532,765,611
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,611,568
<TOTAL-LIABILITIES> 17,611,568
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,515,154,043
<SHARES-COMMON-STOCK> 245,360,997
<SHARES-COMMON-PRIOR> 46,636,593
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 3,515,154,043
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 173,797,289
<OTHER-INCOME> 0
<EXPENSES-NET> (8,698,309)
<NET-INVESTMENT-INCOME> 165,098,980
<REALIZED-GAINS-CURRENT> 300,712
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 165,399,692
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,711,597)
<DISTRIBUTIONS-OF-GAINS> (9,681)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 30,901,418,469
<NUMBER-OF-SHARES-REDEEMED> (30,543,252,110)
<SHARES-REINVESTED> 61,924,789
<NET-CHANGE-IN-ASSETS> 420,091,148
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 80,038
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,427,023
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,369,851
<AVERAGE-NET-ASSETS> 3,135,133,049
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .053
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.053)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .28
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 375
<NAME> FINANCIAL SQUARE TREASURY OBLIGATIONS FUND-ADMINISTRATION
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 3,522,502,423
<INVESTMENTS-AT-VALUE> 3,522,502,423
<RECEIVABLES> 10,248,818
<ASSETS-OTHER> 14,370
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,532,765,611
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,611,568
<TOTAL-LIABILITIES> 17,611,568
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,515,154,043
<SHARES-COMMON-STOCK> 738,895,099
<SHARES-COMMON-PRIOR> 536,903,385
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 3,515,154,043
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 173,797,289
<OTHER-INCOME> 0
<EXPENSES-NET> (8,698,309)
<NET-INVESTMENT-INCOME> 165,098,980
<REALIZED-GAINS-CURRENT> 300,712
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 165,399,692
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (35,669,978)
<DISTRIBUTIONS-OF-GAINS> (92,228)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 30,901,418,469
<NUMBER-OF-SHARES-REDEEMED> (30,543,252,110)
<SHARES-REINVESTED> 61,924,789
<NET-CHANGE-IN-ASSETS> 420,091,148
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 80,038
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,427,023
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,369,851
<AVERAGE-NET-ASSETS> 3,135,133,049
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .051
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.051)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .43
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 376
<NAME> FINANCIAL SQUARE TREASURY OBLIGATIONS FUND-SERVICE
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 3,522,502,423
<INVESTMENTS-AT-VALUE> 3,522,502,423
<RECEIVABLES> 10,248,818
<ASSETS-OTHER> 14,370
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,532,765,611
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,611,568
<TOTAL-LIABILITIES> 17,611,568
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,515,154,043
<SHARES-COMMON-STOCK> 312,994,139
<SHARES-COMMON-PRIOR> 220,555,465
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 3,515,154,043
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 173,797,289
<OTHER-INCOME> 0
<EXPENSES-NET> (8,698,309)
<NET-INVESTMENT-INCOME> 165,098,980
<REALIZED-GAINS-CURRENT> 300,712
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 165,399,692
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11,696,566)
<DISTRIBUTIONS-OF-GAINS> (25,376)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 30,901,418,469
<NUMBER-OF-SHARES-REDEEMED> (30,543,252,110)
<SHARES-REINVESTED> 61,924,789
<NET-CHANGE-IN-ASSETS> 420,091,148
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 80,038
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,427,023
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,369,851
<AVERAGE-NET-ASSETS> 3,135,133,049
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .049
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.049)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 363
<NAME> FINANCIAL SQUARE MONEY MARKET FUND-INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 5,077,628,672
<INVESTMENTS-AT-VALUE> 5,077,628,672
<RECEIVABLES> 33,332,928
<ASSETS-OTHER> 305,987
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,111,267,587
<PAYABLE-FOR-SECURITIES> 177,216,947
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 29,713,897
<TOTAL-LIABILITIES> 206,930,844
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,904,335,361
<SHARES-COMMON-STOCK> 4,346,515,706
<SHARES-COMMON-PRIOR> 2,540,361,007
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,382
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4,904,336,743
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 277,371,948
<OTHER-INCOME> 0
<EXPENSES-NET> (11,142,094)
<NET-INVESTMENT-INCOME> 266,229,854
<REALIZED-GAINS-CURRENT> 32,849
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 266,262,703
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (231,700,902)
<DISTRIBUTIONS-OF-GAINS> (24,966)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 68,053,947,094
<NUMBER-OF-SHARES-REDEEMED> (66,241,742,997)
<SHARES-REINVESTED> 134,114,443
<NET-CHANGE-IN-ASSETS> 1,946,318,968
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 954
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,006,793
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,642,257
<AVERAGE-NET-ASSETS> 4,881,362,595
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .055
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.055)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .18
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT
DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 364
<NAME> FINANCIAL SQUARE MONEY MARKET FUND-PREFERRED
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 5,077,628,672
<INVESTMENTS-AT-VALUE> 5,077,628,672
<RECEIVABLES> 33,332,928
<ASSETS-OTHER> 305,987
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,111,267,587
<PAYABLE-FOR-SECURITIES> 177,216,947
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 29,713,897
<TOTAL-LIABILITIES> 206,930,844
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,904,335,361
<SHARES-COMMON-STOCK> 20,258,602
<SHARES-COMMON-PRIOR> 17,510,550
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,382
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4,904,336,743
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 277,371,948
<OTHER-INCOME> 0
<EXPENSES-NET> (11,142,094)
<NET-INVESTMENT-INCOME> 266,229,854
<REALIZED-GAINS-CURRENT> 32,849
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 266,262,703
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,010,280)
<DISTRIBUTIONS-OF-GAINS> (571)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 68,053,947,094
<NUMBER-OF-SHARES-REDEEMED> (66,241,742,997)
<SHARES-REINVESTED> 134,114,443
<NET-CHANGE-IN-ASSETS> 1,946,318,968
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 954
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,006,793
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,642,257
<AVERAGE-NET-ASSETS> 4,881,362,595
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .054
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.054)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .28
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 365
<NAME> FINANCIAL SQUARE MONEY MARKET FUND-ADMINISTRATION
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 5,077,628,672
<INVESTMENTS-AT-VALUE> 5,077,628,672
<RECEIVABLES> 33,332,928
<ASSETS-OTHER> 305,987
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,111,267,587
<PAYABLE-FOR-SECURITIES> 177,216,947
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 29,713,897
<TOTAL-LIABILITIES> 206,930,844
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,904,335,361
<SHARES-COMMON-STOCK> 221,253,373
<SHARES-COMMON-PRIOR> 165,764,727
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,382
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4,904,336,743
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 277,371,948
<OTHER-INCOME> 0
<EXPENSES-NET> (11,142,094)
<NET-INVESTMENT-INCOME> 266,229,854
<REALIZED-GAINS-CURRENT> 32,849
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 266,262,703
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (16,410,842)
<DISTRIBUTIONS-OF-GAINS> (31)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 68,053,947,094
<NUMBER-OF-SHARES-REDEEMED> (66,241,742,997)
<SHARES-REINVESTED> 134,114,443
<NET-CHANGE-IN-ASSETS> 1,946,318,968
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 954
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,006,793
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,642,257
<AVERAGE-NET-ASSETS> 4,881,362,595
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .053
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.053)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .43
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT
DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 366
<NAME> FINANCIAL SQUARE MONEY MARKET FUND-SERVICE
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 5,077,628,672
<INVESTMENTS-AT-VALUE> 5,077,628,672
<RECEIVABLES> 33,332,928
<ASSETS-OTHER> 305,987
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,111,267,587
<PAYABLE-FOR-SECURITIES> 177,216,947
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 29,713,897
<TOTAL-LIABILITIES> 206,930,844
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,904,335,361
<SHARES-COMMON-STOCK> 316,307,680
<SHARES-COMMON-PRIOR> 234,380,537
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,382
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4,904,336,743
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 277,371,948
<OTHER-INCOME> 0
<EXPENSES-NET> (11,142,094)
<NET-INVESTMENT-INCOME> 266,229,854
<REALIZED-GAINS-CURRENT> 32,849
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 266,262,703
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (15,107,830)
<DISTRIBUTIONS-OF-GAINS> (6,853)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 68,053,947,094
<NUMBER-OF-SHARES-REDEEMED> (66,241,742,997)
<SHARES-REINVESTED> 134,114,443
<NET-CHANGE-IN-ASSETS> 1,946,318,968
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 954
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,006,793
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,642,257
<AVERAGE-NET-ASSETS> 4,881,362,595
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .050
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.050)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 353
<NAME> FINANCIAL SQUARE PRIME OBLIGATIONS FUND-INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 4,469,716,189
<INVESTMENTS-AT-VALUE> 4,469,716,189
<RECEIVABLES> 26,750,497
<ASSETS-OTHER> 729,789
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,497,196,475
<PAYABLE-FOR-SECURITIES> 35,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,950,086
<TOTAL-LIABILITIES> 58,950,086
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,438,254,520
<SHARES-COMMON-STOCK> 3,867,740,474
<SHARES-COMMON-PRIOR> 3,901,792,070
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (8,131)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4,438,246,389
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 288,754,558
<OTHER-INCOME> 0
<EXPENSES-NET> (10,774,965)
<NET-INVESTMENT-INCOME> 277,979,593
<REALIZED-GAINS-CURRENT> 15,992
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 277,995,585
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (247,361,553)
<DISTRIBUTIONS-OF-GAINS> (22,695)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 53,179,415,600
<NUMBER-OF-SHARES-REDEEMED> (53,213,589,524)
<SHARES-REINVESTED> 112,453,328
<NET-CHANGE-IN-ASSETS> 78,270,183
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,090
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,499,297
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,286,495
<AVERAGE-NET-ASSETS> 5,121,608,334
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .055
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.055)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .18
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 353
<NAME> FINANCIAL SQUARE PRIME OBLIGATIONS FUND-INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 4,469,716,189
<INVESTMENTS-AT-VALUE> 4,469,716,189
<RECEIVABLES> 26,750,497
<ASSETS-OTHER> 729,789
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,497,196,475
<PAYABLE-FOR-SECURITIES> 35,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,950,086
<TOTAL-LIABILITIES> 58,950,086
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,438,254,520
<SHARES-COMMON-STOCK> 3,867,740,474
<SHARES-COMMON-PRIOR> 3,901,792,070
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (8,131)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4,438,246,389
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 288,754,558
<OTHER-INCOME> 0
<EXPENSES-NET> (10,774,965)
<NET-INVESTMENT-INCOME> 277,979,593
<REALIZED-GAINS-CURRENT> 15,992
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 277,995,585
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (247,361,553)
<DISTRIBUTIONS-OF-GAINS> (22,695)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 53,179,415,600
<NUMBER-OF-SHARES-REDEEMED> (53,213,589,524)
<SHARES-REINVESTED> 112,453,328
<NET-CHANGE-IN-ASSETS> 78,270,183
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,090
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,499,297
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,286,495
<AVERAGE-NET-ASSETS> 5,121,608,334
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .055
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.055)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .18
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 355
<NAME> FINANCIAL SQUARE PRIME OBLIGATIONS FUND - ADMINISTRATION
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 4,469,716,189
<INVESTMENTS-AT-VALUE> 4,469,716,189
<RECEIVABLES> 26,750,497
<ASSETS-OTHER> 729,789
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,497,196,475
<PAYABLE-FOR-SECURITIES> 35,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,950,086
<TOTAL-LIABILITIES> 58,950,086
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,438,254,520
<SHARES-COMMON-STOCK> 241,610,519
<SHARES-COMMON-PRIOR> 215,900,253
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (8,131)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4,438,246,389
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 288,754,558
<OTHER-INCOME> 0
<EXPENSES-NET> (10,774,965)
<NET-INVESTMENT-INCOME> 277,979,593
<REALIZED-GAINS-CURRENT> 15,992
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 277,995,585
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (13,824,313)
<DISTRIBUTIONS-OF-GAINS> (1,302)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 53,179,415,600
<NUMBER-OF-SHARES-REDEEMED> (53,213,589,524)
<SHARES-REINVESTED> 112,453,328
<NET-CHANGE-IN-ASSETS> 78,270,183
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,090
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,499,297
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,286,495
<AVERAGE-NET-ASSETS> 5,121,608,334
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .052
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.052)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .43
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 356
<NAME> FINANCIAL SQUARE PRIME OBLIGATIONS FUND-SERVICE
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 4,469,716,189
<INVESTMENTS-AT-VALUE> 4,469,716,189
<RECEIVABLES> 26,750,497
<ASSETS-OTHER> 729,789
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,497,196,475
<PAYABLE-FOR-SECURITIES> 35,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,950,086
<TOTAL-LIABILITIES> 58,950,086
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,438,254,520
<SHARES-COMMON-STOCK> 176,133,499
<SHARES-COMMON-PRIOR> 115,154,059
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (8,131)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4,438,246,389
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 288,754,588
<OTHER-INCOME> 0
<EXPENSES-NET> (10,774,965)
<NET-INVESTMENT-INCOME> 277,979,593
<REALIZED-GAINS-CURRENT> 15,992
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 277,995,585
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,042,464)
<DISTRIBUTIONS-OF-GAINS> (464)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 53,179,415,600
<NUMBER-OF-SHARES-REDEEMED> (53,213,589,524)
<SHARES-REINVESTED> 112,453,328
<NET-CHANGE-IN-ASSETS> 78,270,183
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,090
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,499,297
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,286,495
<AVERAGE-NET-ASSETS> 5,121,608,334
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .050
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.050)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
