LETTER TO SHAREHOLDERS
Dear Shareholder:
We are pleased to provide you with this annual report for the Dreyfus New
Jersey Municipal Money Market Fund. For the 12-month period ended January 31,
1995, the yield provided by your Fund was 2.52%. After taking into account
the effect of compounding the effective yield was 2.55%.* Income dividends of
approximately $.025 per share paid during the period were exempt from Federal
and New Jersey State income taxes.**
Our last letter recapped the series of Federal Reserve Board moves
throughout the first half of 1994--moves designed to reach a more neutral
monetary policy in response to continued economic expansion. With further
evidence of economic strength in the latter half of the year, the Federal
Reserve continued its move toward tighter policy. In two successive moves in
August and November, the Fed increased rates an additional 125 basis points.
By November 15, total monetary policy actions taken in 1994 increased the
discount rate from 3.00% to 4.75%. In addition, the Federal Funds rate moved
from 3.00% to 5.50% between February and November of last year. On February 1
of this year, the Fed continued with its policy as it raised both the Federal
Funds and discount rate an additional 50 basis points to 6.00% and 5.25%,
respectively. Throughout the year, yields on municipal money market funds
increased in response to these higher short-term rates.
One of the most significant events in the second half of last year which
affected the short-term municipal market on a national scale was the
bankruptcy filing by Orange County, California. The uncertainty that resulted
caused temporary market weakness in both the national and state-specific
money markets. Since your Fund continues to invest exclusively in New
Jersey-exempt issues, it had no direct exposure to Orange County. However,
prices on short-term municipal notes (especially California issues) declined
during December as the market awaited additional information about the
County's filing. The prevailing market weakness provided several attractive
buying opportunities in the market. With an average maturity in the
60-day-plus range at the time, we were able to take advantage of some of
these opportunities. While maintaining our conservative investment
philosophy, we committed selectively to those New Jersey-exempt issues which
provided the portfolio with a high level of diversity and liquidity.
We have included a current Statement of Investments and recent financial
statements for your review and look forward to serving your investment needs
in the future.
Very truly yours,
(Richard J. Moynihan Signature Logo)
Richard J. Moynihan
Director, Municipal Portfolio Management
The Dreyfus Corporation
February 16, 1995
New York, N.Y.
* Effective yield is based upon dividends declared daily and reinvested
monthly.
** Some income may be subject to the Federal Alternative Minimum Tax
(AMT) for certain shareholders.
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<CAPTION>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF INVESTMENTS JANUARY 31, 1995
PRINCIPAL
TAX EXEMPT INVESTMENTS--100.0% AMOUNT VALUE
-------------- --------------
<S> <C> <C>
NEW JERSEY--94.0%
Atlantic County Improvement Authority, Revenue, VRDN
(Aces Pooled Government Loan Program)
3.35% (LOC; Hong Kong Shanghai Banking Corp.) (a,b)..................... $ 8,800,000 $ 8,800,000
Burlington County, BAN 4.50%, 8/11/95....................................... 7,000,000 7,024,609
Chatham Township, BAN 4.50%, 7/31/95........................................ 6,091,000 6,110,669
East Brunswick Township, BAN 5.75%, 1/3/96.................................. 22,051,000 22,164,495
Essex County, BAN 5.50%, Series A, 12/12/95................................. 15,000,000 15,061,423
Essex County Improvement Authority, Revenue, VRDN
(Aces Pooled Government Loan Program) 3.25% (LOC; Sumitomo Bank) (a,b).. 14,200,000 14,200,000
Hackensack, Refunding, BAN 3.74%, 6/9/95.................................... 5,268,000 5,269,053
Hudson County Improvement Authority, VRDN (Essential Purpose Pooled
Government Loan) 3.85% (LOC; Hong Kong Shanghai Banking Corp.) (a,b).... 49,040,000 49,040,000
Jersey City, Promissory Notes 3.75%, 3/10/95................................ 23,000,000 23,009,913
Middlesex County, BAN 3.48%, 6/29/95........................................ 13,900,000 13,900,509
Monmouth County, BAN 4.75%, 8/31/95......................................... 5,300,000 5,322,151
Monmouth County Improvement Authority, Revenue, VRDN
(Aces Pooled Government Loan Program)
3.25% (LOC; Union Bank of Switzerland) (a,b)............................ 30,000,000 30,000,000
Morris County, BAN 3.63%, 7/6/95............................................ 42,852,000 42,853,642
New Jersey Economic Development Authority:
Revenue, Exempt Facility, CP (Keystone Project):
4%, 2/14/95 (LOC; Union Bank of Switzerland) (b) ..................... 11,200,000 11,200,000
3.50%, 3/10/95 (LOC; Union Bank of Switzerland) (b)................... 15,500,000 15,500,000
VRDN:
EDR:
(Black Horse Pike Limited Project)
4.125% (Corp. Guaranty; Household Finance Corp.) (a)............ 5,400,000 5,400,000
(El Dorado Terminal) 3.90%, Series B (Corp. Guaranty; Dow Chemical Co.) (a) 3,000,000 3,000,000
(Exit 8A L.P. Project) 3.80% (LOC; Bank of Tokyo) (a,b)........... 7,200,000 7,200,000
(Hartz and Rex Associates) 4.025% (LOC; Bankers Trust) (a,b)...... 2,000,000 2,000,000
(Kenwood USA Corp. Project) 4.625% (LOC; The Asahi Bank) (a,b).... 7,400,000 7,400,000
(Merck and Co. Inc.) 4.125%, Series A (a)......................... 1,000,000 1,000,000
(White Horse Pike Limited Project)
4.125% (Corp. Guaranty; Household Finance Corp.) (a)............ 7,600,000 7,600,000
First Mortgage Gross Revenue
(Franciscan Oaks Project) 3.55%, Series B (LOC; Bank of Scotland) (a,b) 3,500,000 3,500,000
Industrial and EDR:
(Marriott Corp. Project) 3.40% (LOC; National Westminster Bank) (a,b) 17,900,000 17,900,000
(Merck and Co. Inc.) 3.875%, Series A and B(a).................... 1,000,000 1,000,000
Manufacturing Facilities Revenue
(Rennoc Corp. Project) 3.10% (LOC; National Bank of Philadelphia) (a,b) 5,235,000 5,235,000
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF INVESTMENTS (CONTINUED) JANUARY 31, 1995
PRINCIPAL
TAX EXEMPT INVESTMENTS (CONTINUED) AMOUNT VALUE
-------------- --------------
NEW JERSEY (CONTINUED)
New Jersey Economic Development Authority (continued):
VRDN (continued):
PCR (Hoffman La Roche Project)
2.85%, Series 85 (LOC; Wachovia Bank of Georgia) (a,b)............ $ 20,000,000 $ 20,000,000
Water Facilities
(American Water Co. Project) 2.90% (Insured; FGIC) (a)............ 7,500,000 7,500,000
New Jersey Education Facility Authority, Revenue
(Higher Education Equipment Leasing Fund) 5%, Series A, 9/1/95 (Insured; MBIA) 14,670,000 14,765,184
New Jersey Health Care Facilities Financing Authority, Revenue, VRDN
(Hospital Capital Asset Financing):
3.55%, Series A (LOC; Chemical Bank) (a,b)............................ 18,700,000 18,700,000
3.55%, Series D (LOC; Chemical Bank) (a,b)............................ 21,000,000 21,000,000
New Jersey Housing and Mortgage Finance Agency, Revenue
4.20%, 9/29/95 (GIC; Bayerische Landesbank)............................. 12,640,000 12,640,000
New Jersey Sports and Exposition Authority, State Contract, VRDN
3.50%, Series C (BPA; Industrial Bank of Japan and Insured; MBIA) (a)... 29,900,000 29,900,000
New Jersey Turnpike Authority, Turnpike Revenue, Refunding, VRDN
3.35%, Series D (Insured; FGIC and Liquidity Agreement; Societe Generale) (a) 89,950,000 89,950,000
Passaic County, BAN 3.75%, 4/6/95........................................... 6,700,000 6,705,686
Patterson, BAN 4.50%, 4/12/95............................................... 14,713,000 14,722,252
Port Authority of New York and New Jersey:
VRDN:
Certificates Partnership 3.50% (a).................................... 9,793,000 9,793,000
(Project 2) 3.40% (SBPA; Morgan Guaranty Trust Co.) (a)............... 14,300,000 14,300,000
Special Obligation Revenue:
(Third Installment) 3.55%, Series 3 (LOC; Deutsche Bank) (a,b).... 23,000,000 23,000,000
Versatile Structure Obligation
3.85%, Series 1 (Liquidity Facility: Bank of Tokyo, Sanwa Bank
and Sumitomo Bank) (a).......................................... 9,900,000 9,900,000
Salem County Industrial Pollution Control Financing Authority, Revenue, CP
(Philadelphia Electric Co.)
3.70%, Series A, 3/10/95 (LOC; Toronto Dominion Bank) (b)............... 11,400,000 11,400,000
Sommerset County, BAN 4.23%, 10/27/95....................................... 15,000,000 15,005,727
State of New Jersey, TRAN 5%, 6/15/95....................................... 35,000,000 35,116,016
Union County Industrial Pollution Control Financing Authority, PCR,
Refunding, CP
(Exxon Project) 4.30%, 2/22/95 (Corp. Guaranty; Exxon Corp.)............ 9,100,000 9,100,000
West Windsor-Plainsboro Regional School District, BAN 5.25%, 12/19/95....... 30,000,000 30,063,022
Westwood, BAN 4.625%, 8/21/95............................................... 7,133,000 7,156,593
U.S. RELATED--6.0%
Commonwealth of Puerto Rico Government Development Bank, Refunding, VRDN
2.95% (LOC; Credit Suisse) (a,b)........................................ 38,900,000 38,900,000
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF INVESTMENTS (CONTINUED) JANUARY 31, 1995
PRINCIPAL
TAX EXEMPT INVESTMENTS (CONTINUED) AMOUNT VALUE
-------------- --------------
U.S. RELATED (CONTINUED)
Commonwealth of Puerto Rico Highway and Transportation Authority,
Highway Revenue, VRDN 3.10%, Series X (LOC: Landesbank, Swiss Bank Corp.
and Union Bank of Switzerland) (a,b).................................... $ 8,000,000 $ 8,000,000
---------------
Total Investments (cost $778,308,944)....................................... $778,308,944
===============
</TABLE>
<TABLE>
<CAPTION>
SUMMARY OF ABBREVIATIONS
<S> <C> <S> <C>
BAN Bond Anticipation Notes LOC Letter of Credit
BPA Bond Purchase Agreement MBIA Municipal Bond Investors Assurance
CP Commercial Paper PCR Pollution Control Revenue
EDR Economic Development Revenue SBPA Standby Bond Purchase Agreement
FGIC Financial Guaranty Insurance Company TRAN Tax and Revenue Anticipation Notes
GIC Guaranteed Investment Contract VRDN Variable Rate Demand Notes
</TABLE>
<TABLE>
<CAPTION>
SUMMARY OF COMBINED RATINGS (UNAUDITED)
MOODY'S OR STANDARD & POOR'S PERCENTAGE OF VALUE
- --------- -------------------- ----------------------
<S> <C> <C>
VMIG1/MIG1, P1 (c) SP1+/SP1, A1+/A1 (c) 77.1%
Aaa/Aa (d) AAA/AA (d) 14.0
Not Rated (e) Not Rated (e) 8.9
--------
100.0%
======
</TABLE>
NOTES TO STATEMENT OF INVESTMENTS:
(a) Securities payable on demand. The interest rate, which is subject
to change, is based upon bank prime rates or an index of market interest
rates.
(b) Secured by letters of credit. At January 31, 1995, 40.5% of the
Fund's net assets are backed by letters of credit issued by domestic
banks and foreign banks.
(c) P1 and A1 are the highest ratings assigned tax-exempt commercial
paper by Moody's and Standard & Poor's, respectively.
(d) Notes which are not MIG or SP rated are represented by bond ratings
of the issuers.
(e) Securities which, while not rated by Moody's and Standard & Poor's,
respectively, have been determined by the Fund's Board of Directors to be
of comparable quality to those rated securities in which the Fund may
invest.
See notes to financial statements.
<TABLE>
<CAPTION>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF ASSETS AND LIABILITIES JANUARY 31, 1995
<S> <C> <C>
ASSETS:
Investments in securities, at value_Note 1(a)........................... $778,308,944
Interest receivable..................................................... 6,405,475
Prepaid expenses........................................................ 64,611
--------------
784,779,030
LIABILITIES:
Due to The Dreyfus Corporation.......................................... $ 217,445
Due to Custodian........................................................ 11,451,174
Accrued expenses........................................................ 197,607 11,866,226
------------- --------------
NET ASSETS ................................................................ $772,912,804
==============
REPRESENTED BY:
Paid-in capital......................................................... $772,965,299
Accumulated net realized (loss) on investments.......................... (52,495)
--------------
NET ASSETS at value applicable to 772,965,299 shares outstanding
(2 billion shares of $.001 par value Common Stock authorized)........... $772,912,804
==============
NET ASSET VALUE, offering and redemption price per share
($772,912,804 / 772,965,299 shares)..................................... $1.00
=======
See notes to financial statements.
</TABLE>
<TABLE>
<CAPTION>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF OPERATIONS YEAR ENDED JANUARY 31, 1995
INVESTMENT INCOME:
<S> <C> <C>
INTEREST INCOME......................................................... $ 22,844,115
EXPENSES:
Management fee_Note 2(a).............................................. $3,891,191
Shareholder servicing costs_Note 2(b)................................. 888,663
Custodian fees........................................................ 77,928
Professional fees..................................................... 62,886
Prospectus and shareholders' reports.................................. 31,360
Directors' fees and expenses_Note 2(c)................................ 24,731
Registration fees..................................................... 5,247
Miscellaneous......................................................... 31,950
------------
5,013,956
Less_reduction in management fee due to
undertakings_Note 2(a)............................................ 1,750,218
------------
TOTAL EXPENSES.................................................. 3,263,738
--------------
INVESTMENT INCOME--NET...................................................... 19,580,377
NET REALIZED (LOSS) ON INVESTMENTS--Note 1(b)............................... (49,213)
--------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS........................ $ 19,531,164
==============
See notes to financial statements.
</TABLE>
<TABLE>
<CAPTION>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF CHANGES IN NET ASSETS
YEAR ENDED JANUARY 31,
-----------------------------------
1994 1995
---------------- ----------------
<S> <C> <C>
OPERATIONS:
Investment income_net................................................... $ 16,234,966 $ 19,580,377
Net realized (loss) on investments...................................... (1,731) (49,213)
---------------- ----------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS.................. 16,233,235 19,531,164
---------------- ----------------
DIVIDENDS TO SHAREHOLDERS FROM;
Investment income_net................................................... (16,234,966) (19,580,377)
---------------- ----------------
CAPITAL STOCK TRANSACTIONS ($1.00 per share):
Net proceeds from shares sold........................................... 1,594,549,698 1,408,301,004
Dividends reinvested.................................................... 14,863,253 17,751,331
Cost of shares redeemed................................................. (1,612,775,419) (1,431,326,369)
---------------- ----------------
(DECREASE) IN NET ASSETS FROM CAPITAL STOCK TRANSACTIONS.............. (3,362,468) (5,274,034)
---------------- ----------------
TOTAL (DECREASE) IN NET ASSETS.................................... (3,364,199) (5,323,247)
NET ASSETS:
Beginning of year....................................................... 781,600,250 778,236,051
---------------- ----------------
End of year............................................................. $ 778,236,051 $ 772,912,804
================ ===============
See notes to financial statements.
</TABLE>
<TABLE>
<CAPTION>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
FINANCIAL HIGHLIGHTS
Contained below is per share operating performance data for a share of
Common Stock outstanding, total investment return, ratios to average net
assets and other supplemental data for each year indicated. This information
has been derived from the Fund's financial statements.
YEAR ENDED JANUARY 31,
--------------------------------------------------------------
PER SHARE DATA: 1991 1992 1993 1994 1995
-------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C>
Net asset value, beginning of year........... $1.0000 $1.0000 $1.0000 $1.0000 $1.0000
-------- -------- -------- -------- --------
INVESTMENT OPERATIONS:
Investment income_net........................ .0567 .0415 .0265 .0210 .0252
Net realized and unrealized gain (loss) on investments -_ -_ -_ -_ (.0001)
-------- -------- -------- -------- --------
TOTAL FROM INVESTMENT OPERATIONS........... .0567 .0415 .0265 .0210 .0251
-------- -------- -------- -------- --------
DISTRIBUTIONS:
Dividends from investment income_net......... (.0567) (.0415) (.0265) (.0210) (.0252)
Dividends from net realized gain on investments -_ -_ -_ -_ -_
-------- -------- -------- -------- --------
TOTAL DISTRIBUTIONS........................ (.0567) (.0415) (.0265) (.0210) (.0252)
-------- -------- -------- -------- --------
Net asset value, end of year................. $1.0000 $1.0000 $1.0000 $1.0000 $ .9999
======= ======= ======= ======= ========
TOTAL INVESTMENT RETURN 5.83% 4.22% 2.68% 2.12% 2.55%
RATIOS/SUPPLEMENTAL DATA:
Ratio of expenses to average net assets...... .16% .17% .32% .35% .42%
Ratio of net investment income to average net assets 5.66% 4.14% 2.65% 2.10% 2.52%
Decrease reflected in above expense ratios due to
undertakings by the Manager................ .45% .45% .32% .30% .22%
Net Assets, end of year (000's Omitted)...... $848,608 $823,739 $781,600 $778,236 $772,913
See notes to financial statements.
</TABLE>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
NOTES TO FINANCIAL STATEMENTS
NOTE 1--SIGNIFICANT ACCOUNTING POLICIES:
The Fund is registered under the Investment Company Act of 1940 ("Act")
as a non-diversified open-end management investment company. Dreyfus Service
Corporation, until August 24, 1994, acted as the exclusive distributor of the
Fund's shares, which are sold to the public without a sales charge. Dreyfus
Service Corporation is a wholly-owned subsidiary of The Dreyfus Corporation
("Manager"). Effective August 24, 1994, the Manager became a direct
subsidiary of Mellon Bank, N.A.
On August 24, 1994, Premier Mutual Fund Services, Inc. ("The
Distributor") was engaged as the Fund's distributor. The Distributor located
at One Exchange Place, Boston, Massachusetts 02109, is a wholly-owned
subsidiary of Institutional Administration Services, Inc., a provider of
mutual fund administration services, the parent company of which is Boston
Institutional Group, Inc.
It is the Fund's policy to maintain a continuous net asset value per
share of $1.00; the Fund has adopted certain investment, portfolio valuation
and dividend and distribution policies to enable it to do so.
There is no assurance, however, that the Fund will be able to maintain a
stable net asset value of $1.00.
(A) PORTFOLIO VALUATION: Investments are valued at amortized cost, which
has been determined by the Fund's Board of Directors to represent the fair
value of the Fund's investments.
(B) SECURITIES TRANSACTIONS AND INVESTMENT INCOME: Securities
transactions are recorded on a trade date basis. Interest income, adjusted
for amortization of premiums and original issue discounts on investments, is
earned from settlement date and recognized on the accrual basis. Realized
gain and loss from securities transactions are recorded on the identified
cost basis.
The Fund follows an investment policy of investing primarily in municipal
obligations of one state. Economic changes affecting the state and certain of
its public bodies and municipalities may affect the ability of issuers within
the state to pay interest on, or repay principal of, municipal obligations
held by the Fund.
(C) DIVIDENDS TO SHAREHOLDERS: It is the policy of the Fund to declare
dividends daily from investment income-net. Such dividends are paid monthly.
Dividends from net realized capital gain, if any, are normally declared and
paid annually, but the Fund may make distributions on a more frequent basis
to comply with the distribution requirements of the Internal Revenue Code. To
the extent that net realized capital gain can be offset by capital loss
carryovers, it is the policy of the Fund not to distribute such gain.
(D) FEDERAL INCOME TAXES: It is the policy of the Fund to continue to
qualify as a regulated investment company, which can distribute tax exempt
dividends, by complying with the applicable provisions of the Internal
Revenue Code, and to make distributions of income and net realized capital
gain sufficient to relieve it from substantially all Federal income and
excise taxes.
The Fund has an unused capital loss carryover of $43,083 available for
Federal income tax purposes to be applied against future net securities
profits, if any realized subsequent to January 31, 1995. The carryover does
not include net realized securities losses from November 1, 1994 through
January 31, 1995 which are treated, for Federal income tax purposes, as
arising in fiscal 1996. If not applied, $971 of the carryover expires in
fiscal 2000, $2,311 expires in fiscal 2002 and $39,801 expires in fiscal
2003.
At January 31, 1995 the cost of investments for Federal income tax
purposes was substantially the same as the cost for financial reporting
purposes (see the Statement of Investments).
NOTE 2--MANAGEMENT FEE AND OTHER TRANSACTIONS WITH AFFILIATES:
(A) Pursuant to a management agreement ("Agreement") with the Manager,
the management fee is computed at the annual rate of .50 of 1% of the average
daily value of the Fund's net assets and is
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
payable monthly. The Agreement provides for an expense reimbursement from the
Manager should the Fund's aggregate expenses, exclusive of taxes, interest on
borrowings, brokerage and extraordinary expenses, exceed the expense
limitation of any state having jurisdiction over the Fund for any full fiscal
year. However, the Manager had undertaken, from February 1, 1994 through
December 11, 1994 to reduce the management fee paid by the Fund, to the
extent that the Fund's aggregate expenses exceeded specified annual
percentages of the Fund's average daily net assets. The Manager has currently
undertaken from December 12, 1994 through March 31, 1995, or until such time
as the net assets of the Fund exceed $825 million, regardless of whether they
remain at that level, to reduce the management fee paid by the Fund to the
extent that the Fund's aggregate expenses (excluding certain expenses as
described above) exceed .50 of 1% of the value of the Fund's average daily
net assets. The reduction in the management fee, pursuant to the
undertakings, amounted to $1,750,218 for the year ended January 31, 1995.
The Manager may modify the expense limitation percentages from time to
time, provided that the resulting expense reimbursement would not be less
than the amount required pursuant to the Agreement.
(B) Pursuant to the Fund's Shareholder Services Plan, the Fund reimburses
Dreyfus Service Corporation an amount not to exceed an annual rate of .25 of
1% of the Fund's average daily net assets for servicing shareholder accounts.
The services provided may include personal services relating to shareholder
accounts, such as answering shareholder inquiries regarding the Fund and
providing reports and other information, and services related to the
maintenance of shareholder accounts. During the year ended January 31, 1995,
the Fund was charged an aggregate of $345,873 pursuant to the Shareholder
Services Plan.
(C) Prior to August 24, 1994, certain officers and directors of the Fund
were "affiliated persons," as defined in the Act, of the Manager and/or
Dreyfus Service Corporation. Each director who is not an "affiliated person"
receives an annual fee of $2,500 and an attendance fee of $500 per meeting.
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
REPORT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
SHAREHOLDERS AND BOARD OF DIRECTORS
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
We have audited the accompanying statement of assets and liabilities of
Dreyfus New Jersey Municipal Money Market Fund, Inc., including the statement
of investments, as of January 31, 1995, and the related statement of
operations for the year then ended, the statement of changes in net assets
for each of the two years in the period then ended, and financial highlights
for each of the years indicated therein. These financial statements and
financial highlights are the responsibility of the Fund's management. Our
responsibility is to express an opinion on these financial statements and
financial highlights based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements and
financial highlights are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements. Our procedures included confirmation of
securities owned as of January 31, 1995 by correspondence with the custodian.
An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights
referred to above present fairly, in all material respects, the financial
position of Dreyfus New Jersey Municipal Money Market Fund, Inc. at January
31, 1995, the results of its operations for the year then ended, the changes
in its net assets for each of the two years in the period then ended, and the
financial highlights for each of the indicated years, in conformity with
generally accepted accounting principles.
(Ernst & Young Signature Logo)
New York, New York
March 8, 1995
IMPORTANT TAX INFORMATION (UNAUDITED)
In accordance with Federal tax law, the Fund hereby designates all the
dividends paid from investment income-net during the fiscal year ended
January 31, 1995 as "exempt-interest dividends" (not subject to regular
Federal and, for individuals who are New Jersey residents, New Jersey
personal income taxes).
(Dreyfus `D' Logo)
DREYFUS NEW JERSEY
MUNICIPAL MONEY MARKET FUND, INC.
200 Park Avenue
New York, NY 10166
MANAGER
The Dreyfus Corporation
200 Park Avenue
New York, NY 10166
CUSTODIAN
The Bank of New York
90 Washington Street
New York, NY 10286
TRANSFER AGENT &
DIVIDEND DISBURSING AGENT
The Shareholder Services Group, Inc.
P.O. Box 9671
Providence, RI 02940
Further information is contained
in the Prospectus, which must
precede or accompany this report.
Printed in U.S.A. 758AR951
(Dreyfus Logo)
New Jersey
Municipal
Money Market
Fund, Inc.
Annual Report
January 31, 1995
(Dreyfus Lion Logo)
