<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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070 G012200 N
070 G022200 N
070 H012200 N
070 H022200 N
070 I012200 N
070 I022200 N
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<PAGE> PAGE 5
070 J022200 N
070 K012200 Y
070 K022200 N
070 L012200 N
070 L022200 N
070 M012200 N
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<PAGE> PAGE 6
062 P002300 0.0
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070 F022300 N
070 G012300 N
070 G022300 N
070 H012300 N
070 H022300 N
070 I012300 N
070 I022300 N
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070 J022300 N
070 K012300 Y
070 K022300 N
070 L012300 N
070 L022300 N
070 M012300 N
070 M022300 N
070 N012300 N
070 N022300 N
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<PAGE> PAGE 7
045 002400 Y
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<PAGE> PAGE 8
070 N012400 N
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<PAGE> PAGE 9
070 C012500 N
070 C022500 N
070 D012500 N
070 D022500 N
070 E012500 N
070 E022500 N
070 F012500 N
070 F022500 N
070 G012500 N
070 G022500 N
070 H012500 N
070 H022500 N
070 I012500 N
070 I022500 N
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070 L012500 N
070 L022500 N
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<PAGE> PAGE 10
062 A002600 Y
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070 E022600 N
070 F012600 N
070 F022600 N
070 G012600 N
070 G022600 N
070 H012600 N
070 H022600 N
070 I012600 N
070 I022600 N
070 J012600 Y
070 J022600 N
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070 K022600 N
070 L012600 N
070 L022600 N
070 M012600 N
070 M022600 N
070 N012600 N
070 N022600 N
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<PAGE> PAGE 11
070 Q022600 N
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<PAGE> PAGE 12
070 F022700 N
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<PAGE> PAGE 13
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<PAGE> PAGE 14
072 A002800 12
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070 H022900 N
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<PAGE> PAGE 15
070 J012900 Y
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
070 M023600 N
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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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039 003900 Y
045 003900 Y
046 003900 N
047 003900 Y
058 A003900 N
059 003900 Y
060 A003900 Y
060 B003900 Y
062 A003900 Y
062 B003900 0.0
062 C003900 102.6
062 D003900 0.0
062 E003900 0.0
062 F003900 0.0
062 G003900 0.0
062 H003900 0.0
062 I003900 0.0
062 J003900 0.0
062 K003900 0.0
062 L003900 0.0
062 M003900 0.0
062 N003900 0.0
062 O003900 0.0
062 P003900 0.0
062 Q003900 0.0
062 R003900 0.0
070 A013900 Y
070 A023900 N
070 B013900 N
070 B023900 N
070 C013900 N
070 C023900 N
070 D013900 N
070 D023900 N
070 E013900 N
070 E023900 N
<PAGE> PAGE 22
070 F013900 N
070 F023900 N
070 G013900 N
070 G023900 N
070 H013900 N
070 H023900 N
070 I013900 N
070 I023900 N
070 J013900 Y
070 J023900 N
070 K013900 Y
070 K023900 N
070 L013900 N
070 L023900 N
070 M013900 N
070 M023900 N
070 N013900 N
070 N023900 N
070 O013900 Y
070 O023900 N
070 P013900 Y
070 P023900 Y
070 Q013900 N
070 Q023900 N
070 R013900 N
070 R023900 N
071 A003900 0
071 B003900 0
071 C003900 0
071 D003900 0
072 A003900 12
074 N003900 2232979
074 T003900 2173837
075 A003900 1141208
075 B003900 0
024 004000 Y
037 004000 N
039 004000 Y
045 004000 Y
046 004000 N
047 004000 Y
058 A004000 N
059 004000 Y
060 A004000 Y
060 B004000 Y
062 A004000 Y
062 B004000 0.0
062 C004000 40.9
062 D004000 60.7
062 E004000 0.0
062 F004000 0.0
<PAGE> PAGE 23
062 G004000 0.0
062 H004000 0.0
062 I004000 0.0
062 J004000 0.0
062 K004000 0.0
062 L004000 0.0
062 M004000 0.0
062 N004000 0.0
062 O004000 0.0
062 P004000 0.0
062 Q004000 0.0
062 R004000 0.0
070 A014000 Y
070 A024000 Y
070 B014000 N
070 B024000 N
070 C014000 N
070 C024000 N
070 D014000 N
070 D024000 N
070 E014000 N
070 E024000 N
070 F014000 N
070 F024000 N
070 G014000 N
070 G024000 N
070 H014000 N
070 H024000 N
070 I014000 N
070 I024000 N
070 J014000 Y
070 J024000 N
070 K014000 Y
070 K024000 N
070 L014000 N
070 L024000 N
070 M014000 N
070 M024000 N
070 N014000 N
070 N024000 N
070 O014000 Y
070 O024000 N
070 P014000 Y
070 P024000 N
070 Q014000 N
070 Q024000 N
070 R014000 N
070 R024000 N
071 A004000 0
071 B004000 0
071 C004000 0
<PAGE> PAGE 24
071 D004000 0
072 A004000 6
074 N004000 2414280
074 T004000 2365690
075 A004000 2095768
075 B004000 0
024 004100 N
037 004100 N
039 004100 Y
045 004100 Y
046 004100 N
047 004100 Y
058 A004100 N
059 004100 Y
060 A004100 Y
060 B004100 Y
062 A004100 Y
062 B004100 0.0
062 C004100 0.0
062 D004100 0.0
062 E004100 106.1
062 F004100 0.0
062 G004100 0.0
062 H004100 0.0
062 I004100 0.0
062 J004100 0.0
062 K004100 0.0
062 L004100 0.0
062 M004100 0.0
062 N004100 0.0
062 O004100 0.0
062 P004100 0.0
062 Q004100 0.0
062 R004100 0.0
070 A014100 Y
070 A024100 N
070 B014100 N
070 B024100 N
070 C014100 N
070 C024100 N
070 D014100 N
070 D024100 N
070 E014100 N
070 E024100 N
070 F014100 N
070 F024100 N
070 G014100 N
070 G024100 N
070 H014100 N
070 H024100 N
070 I014100 N
<PAGE> PAGE 25
070 I024100 N
070 J014100 Y
070 J024100 N
070 K014100 Y
070 K024100 N
070 L014100 N
070 L024100 N
070 M014100 N
070 M024100 N
070 N014100 N
070 N024100 N
070 O014100 Y
070 O024100 Y
070 P014100 Y
070 P024100 Y
070 Q014100 N
070 Q024100 N
070 R014100 N
070 R024100 N
071 A004100 0
071 B004100 0
071 C004100 0
071 D004100 0
072 A004100 6
074 N004100 1196472
074 T004100 1120186
075 A004100 826560
075 B004100 0
024 004200 Y
037 004200 N
039 004200 Y
045 004200 Y
046 004200 N
047 004200 Y
058 A004200 N
059 004200 Y
060 A004200 Y
060 B004200 Y
062 A004200 Y
062 B004200 0.0
062 C004200 0.0
062 D004200 39.3
062 E004200 0.0
062 F004200 8.1
062 G004200 3.2
062 H004200 0.0
062 I004200 41.7
062 J004200 0.0
062 K004200 0.0
062 L004200 10.4
062 M004200 0.0
<PAGE> PAGE 26
062 N004200 0.0
062 O004200 0.0
062 P004200 0.0
062 Q004200 0.0
062 R004200 0.0
070 A014200 Y
070 A024200 Y
070 B014200 N
070 B024200 N
070 C014200 N
070 C024200 N
070 D014200 N
070 D024200 N
070 E014200 N
070 E024200 N
070 F014200 N
070 F024200 N
070 G014200 N
070 G024200 N
070 H014200 N
070 H024200 N
070 I014200 N
070 I024200 N
070 J014200 Y
070 J024200 Y
070 K014200 Y
070 K024200 N
070 L014200 Y
070 L024200 Y
070 M014200 N
070 M024200 N
070 N014200 N
070 N024200 N
070 O014200 Y
070 O024200 N
070 P014200 Y
070 P024200 N
070 Q014200 N
070 Q024200 N
070 R014200 N
070 R024200 N
071 A004200 0
071 B004200 0
071 C004200 0
071 D004200 0
072 A004200 6
074 N004200 227431
074 T004200 221021
075 A004200 179489
075 B004200 0
<PAGE> PAGE 27
SIGNATURE STEPHANIE ABRUZZESE
TITLE LEGAL ASSISTANT
<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> 212
<NAME> ILA PRIME OBLIGATIONS PORTFOLIO-CLASS B
<S> <C>
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<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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<SERIES>
<NUMBER> 213
<NAME> ILA PRIME OBLIGATIONS PORTFOLIO-INSTITUTIONAL
<S> <C>
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<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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</LEGEND>
<SERIES>
<NUMBER> 215
<NAME> ILA PRIME OBLIGATIONS PORTFOLIO-ADMINISTRATION
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</TABLE>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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</LEGEND>
<SERIES>
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<NAME> ILA PRIME OBLIGATIONS PORTFOLIO-SERVICE
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</TABLE>
<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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</LEGEND>
<SERIES>
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<NAME> ILA PRIME OBLIGATIONS PORTFOLIO-CLASS C
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<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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</LEGEND>
<SERIES>
<NUMBER> 293
<NAME> ILA TAX-EXEMPT NEW YORK PORTFOLIO-INSTITUTIONAL
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<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>
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<NAME> ILA TAX-EXEMPT NEW YORK PORTFOLIO-ADMINISTRATION
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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> 296
<NAME> ILA TAX-EXEMPT NEW YORK PORTFOLIO-SERVICE
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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>
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<NAME> ILA TAX-EXEMPT CALIFORNIA PORTFOLIO-INSTITUTIONAL
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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> 285
<NAME> ILA TAX-EXEMPT CALIFORNIA PORTFOLIO-ADMINISTRATION
<S> <C>
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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> 286
<NAME> ILA TAX-EXEMPT CALIFORNIA PORTFOLIO-SERVICE
<S> <C>
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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>
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<NAME> ILA TAX-EXEMPT DIVERSIFIED PORTFOLIO-INSTITUTIONAL
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<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>
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<NAME> ILA TAX-EXEMPT DIVERSIFIED PORTFOLIO-ADMINISTRATION
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<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>
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<NAME> ILA TAX-EXEMPT DIVERSIFIED PORTFOLIO-SERVICE
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<REALIZED-GAINS-CURRENT> (15,310)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7,008,463
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<PER-SHARE-DIVIDEND> (.030)
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<PER-SHARE-NAV-END> 1.00
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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 REFERENCT TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 263
<NAME> ILA FEDERAL PORTFOLIO-INSTITUTIONAL
<S> <C>
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<INVESTMENTS-AT-VALUE> 2,694,905,170
<RECEIVABLES> 7,279,210
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<NET-INVESTMENT-INCOME> 142,229,502
<REALIZED-GAINS-CURRENT> 74,776
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<DISTRIBUTIONS-OF-GAINS> (4,171)
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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
<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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<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>
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<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
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<INVESTMENTS-AT-COST> 2,694,905,170
<INVESTMENTS-AT-VALUE> 2,694,905,170
<RECEIVABLES> 7,279,210
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<PAYABLE-FOR-SECURITIES> 75,000,000
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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
<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
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<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .051
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.051)
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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> 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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<TOTAL-ASSETS> 2,702,440,992
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<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,615,099,863
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<EXPENSES-NET> 8,601,974
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<NET-CHANGE-FROM-OPS> 142,304,278
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> (209)
<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)
<GROSS-ADVISORY-FEES> 9,555,781
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12,572,336
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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 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
<PERIOD-START> JAN-01-1997
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<INVESTMENTS-AT-COST> 715,872,520
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<ACCUMULATED-NET-GAINS> 1,959
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<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 724,311,542
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<EXPENSES-NET> 3,053,229
<NET-INVESTMENT-INCOME> 38,903,282
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<DISTRIBUTIONS-OF-GAINS> (51,900)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,670,371,899
<NUMBER-OF-SHARES-REDEEMED> (4,193,476,260)
<SHARES-REINVESTED> 16,821,105
<NET-CHANGE-IN-ASSETS> (506,294,141)
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<OVERDISTRIB-NII-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,685,283
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<PER-SHARE-DIVIDEND> (.050)
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
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<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> 255
<NAME> ILA TREASURY INSTRUMENTS PORTFOLIO-ADMINISTRATION
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
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<INVESTMENTS-AT-COST> 715,872,520
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<RECEIVABLES> 11,406,880
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<NET-ASSETS> 724,311,542
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<NUMBER-OF-SHARES-SOLD> 3,670,371,899
<NUMBER-OF-SHARES-REDEEMED> (4,193,476,260)
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<GROSS-EXPENSE> 4,685,283
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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> 256
<NAME> ILA TREASURY INSTRUMENTS PORTFOLIO-SERVICE
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<INVESTMENTS-AT-COST> 715,872,520
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<NUMBER-OF-SHARES-SOLD> 3,670,371,899
<NUMBER-OF-SHARES-REDEEMED> (4,193,476,260)
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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> 243
<NAME> ILA TREASURY OBLIGATIONS PORTFOLIO-INSTITUTIONAL
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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> 245
<NAME> ILA TREASURY OBLIGATIONS PORTFOLIO-ADMINISTRATION
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<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
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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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<NUMBER-OF-SHARES-SOLD> 5,211,063,367
<NUMBER-OF-SHARES-REDEEMED> (5,212,556,500)
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<GROSS-EXPENSE> 3,879,084
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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>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
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<INVESTMENTS-AT-COST> 565,903,253
<INVESTMENTS-AT-VALUE> 565,903,253
<RECEIVABLES> 3,028,806
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<NET-ASSETS> 554,448,116
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<NUMBER-OF-SHARES-SOLD> 3,631,302,781
<NUMBER-OF-SHARES-REDEEMED> (3,919,007,935)
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<NET-CHANGE-IN-ASSETS> (270,485,835)
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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> 235
<NAME> ILA GOVERNMENT PORTFOLIO-ADMINISTRATION
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
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<INVESTMENTS-AT-COST> 565,903,253
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<NET-ASSETS> 554,448,116
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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
<S> <C>
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<FISCAL-YEAR-END> DEC-31-1997
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<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 565,903,253
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<NUMBER-OF-SHARES-REDEEMED> (3,919,007,935)
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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
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
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<INVESTMENTS-AT-COST> 1,147,485,683
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<NET-ASSETS> 1,134,092,697
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<NUMBER-OF-SHARES-SOLD> 10,177,000,201
<NUMBER-OF-SHARES-REDEEMED> (10,086,895,886)
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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
<S> <C>
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<FISCAL-YEAR-END> DEC-31-1997
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<INVESTMENTS-AT-COST> 1,147,485,683
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<NET-ASSETS> 1,134,092,697
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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> 226
<NAME> ILA MONEY MARKET PORTFOLIO-SERVICE
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<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>
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<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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<PAID-IN-CAPITAL-COMMON> 221,021,289
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<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 221,021,289
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,265,812
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<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
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<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
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<GROSS-EXPENSE> 340,068
<AVERAGE-NET-ASSETS> 179,489,031
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .024
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<PER-SHARE-DIVIDEND> (.024)
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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 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
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<RECEIVABLES> 391,533
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<TOTAL-LIABILITIES> 6,409,731
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<PAID-IN-CAPITAL-COMMON> 221,021,289
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<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 221,021,289
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,265,812
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<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
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<DISTRIBUTIONS-OF-GAINS> 0
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<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
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<GROSS-EXPENSE> 340,068
<AVERAGE-NET-ASSETS> 179,489,031
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .023
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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> 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
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<TOTAL-ASSETS> 227,431,020
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<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
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (295,011)
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<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
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<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
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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> 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
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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
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<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
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<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
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<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
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<PAID-IN-CAPITAL-COMMON> 1,120,201,103
<SHARES-COMMON-STOCK> 939,421,140
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<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> (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)
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<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .18
<AVG-DEBT-OUTSTANDING> 0
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</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
<SHARES-COMMON-STOCK> 35,151,663
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<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
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<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
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<OVERDIST-NET-GAINS-PRIOR> (12,859)
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<PER-SHARE-NII> .039
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<EXPENSE-RATIO> .28
<AVG-DEBT-OUTSTANDING> 0
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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> 415
<NAME> FINANCIAL SQUARE TAX-FREE MONEY MARKET FUND-ADMINISTRATION
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<PERIOD-START> JAN-01-1997
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<INVESTMENTS-AT-COST> 1,188,671,470
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<NUMBER-OF-SHARES-REDEEMED> (6,285,421,492)
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</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
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<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
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<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
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<PAID-IN-CAPITAL-COMMON> 2,365,690,113
<SHARES-COMMON-STOCK> 1,478,535,045
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<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
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<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
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<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
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<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
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<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
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<INVESTMENTS-AT-COST> 2,229,360,388
<INVESTMENTS-AT-VALUE> 2,229,360,388
<RECEIVABLES> 3,566,555
<ASSETS-OTHER> 52,297
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<PAYABLE-FOR-SECURITIES> 50,000,000
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<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-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (7,673)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,173,837,437
<DIVIDEND-INCOME> 0
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<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> (7,278,709)
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<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
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<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
<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> 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
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<PAYABLE-FOR-SECURITIES> 50,000,000
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<OTHER-ITEMS-LIABILITIES> 9,141,803
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<PAID-IN-CAPITAL-COMMON> 2,173,836,797
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<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
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<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
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<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)
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<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
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<TOTAL-ASSETS> 522,340,038
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<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
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<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
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<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
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<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
<SHARES-COMMON-PRIOR> 2,290,967,452
<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
<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> 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
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<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>
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<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
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<OTHER-ITEMS-LIABILITIES> 17,611,568
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<SHARES-COMMON-STOCK> 738,895,099
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<ACCUMULATED-NET-GAINS> 0
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<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 3,515,154,043
<DIVIDEND-INCOME> 0
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<EXPENSES-NET> (8,698,309)
<NET-INVESTMENT-INCOME> 165,098,980
<REALIZED-GAINS-CURRENT> 300,712
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<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
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<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>
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<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
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<INVESTMENTS-AT-COST> 3,522,502,423
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<RECEIVABLES> 10,248,818
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<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>
<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> 354
<NAME> FINANCIAL SQUARE PRIME OBLIGATIONS FUNDS-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> 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> 152,770,028
<SHARES-COMMON-PRIOR> 127,128,734
<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> (9,751,263)
<DISTRIBUTIONS-OF-GAINS> (752)
<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> .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> 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>
The Shareholders and Board of Trustees of
Goldman Sachs Trust on behalf of the
Goldman Sachs Institutional Liquid Assets and the
Goldman Sachs Financial Square Funds:
In planning and performing our audit of the financial statements of
Goldman Trust on behalf of the Goldman Sachs Institutional Liquid
Assets (consisting of Prime Obligations, Money Market, Government,
Treasury Obligations, Treasury Instruments, Federal, Tax-Exempt
Diversified, Tax-Exempt California and Tax-Exempt New York
Portfolios) and the Goldman Sachs Financial Square Funds
(consisting of Prime Obligations, Money Market, Premium Money
Market, Treasury Obligations, Treasury Instruments, Government,
Federal and Tax-Free Money Market Funds) for the year ended
December 31, 1997, 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 the
internal control.
The management of Goldman Sachs Trust 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, error or fraud
may occur and not be detected. Also, projection of any evaluation
of internal control to future periods is subject to the risk that
it may become inadequate because of changes in conditions or that
the effectiveness of the design and operation may deteriorate.
Our consideration of 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 misstatements caused by error or fraud 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 as of
December 31, 1997.
<PAGE>
This report is intended solely for the information and use of
management, the Board of Trustees of Goldman Sachs Trust, and the
Securities and Exchange Commission.
Boston, Massachusetts
February 27, 1998
