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<PAGE> PAGE 2
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 20
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062 R000500 0.0
063 A000500 54
063 B000500 0.0
064 A000500 Y
<PAGE> PAGE 21
064 B000500 N
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 0
071 B000500 0
071 C000500 0
071 D000500 0
072 A000500 12
072 B000500 2024
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 310
072 G000500 31
072 H000500 0
072 I000500 23
072 J000500 15
<PAGE> PAGE 22
072 K000500 0
072 L000500 3
072 M000500 25
072 N000500 0
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 17
072 S000500 2
072 T000500 155
072 U000500 0
072 V000500 0
072 W000500 16
072 X000500 597
072 Y000500 71
072 Z000500 1498
072AA000500 0
072BB000500 9
072CC010500 0
072CC020500 0
072DD010500 1498
072DD020500 0
072EE000500 0
073 A010500 0.0240
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 12
074 B000500 0
074 C000500 52147
074 D000500 0
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 1000
074 K000500 1
074 L000500 273
074 M000500 4
074 N000500 53437
074 O000500 0
074 P000500 4
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 72
074 S000500 0
074 T000500 53361
074 U010500 53392
<PAGE> PAGE 23
074 U020500 0
074 V010500 1.00
074 V020500 0.00
074 W000500 0.9994
074 X000500 72
074 Y000500 0
075 A000500 61981
075 B000500 0
076 000500 0.00
SIGNATURE RICHARD L. PETEKA
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
OCC CASH RESERVES- CALIFORNIA MUNICIPAL PORTFOLIO ANNUAL REPORT
FOR THE YEAR ENDED NOVEMBER 30, 1996.
</LEGEND>
<CIK> 0000851173
<NAME> OCC CASH RESERVES
<SERIES>
<NUMBER> 5
<NAME> CALIFORNIA MUNICIPAL PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-START> DEC-01-1995
<PERIOD-END> NOV-30-1996
<INVESTMENTS-AT-COST> 52146899
<INVESTMENTS-AT-VALUE> 52146899
<RECEIVABLES> 1274191
<ASSETS-OTHER> 15544
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 53436634
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 75977
<TOTAL-LIABILITIES> 75977
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 53391511
<SHARES-COMMON-STOCK> 53391512
<SHARES-COMMON-PRIOR> 75933638
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (30854)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 53360657
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2024273
<OTHER-INCOME> 0
<EXPENSES-NET> (525806)
<NET-INVESTMENT-INCOME> 1498467
<REALIZED-GAINS-CURRENT> (9304)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1489163
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1498467)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 276344120
<NUMBER-OF-SHARES-REDEEMED> (300398721)
<SHARES-REINVESTED> 1512475
<NET-CHANGE-IN-ASSETS> (22542126)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (21550)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 309904
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 601883<F1>
<AVERAGE-NET-ASSETS> 61980887
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .024
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.024)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>GROSS OF EXPENSE OFFSET- $4,683
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
OCC CASH RESERVES -GENERAL MUNICIPAL PORTFOLIO ANNUAL REPORT
FOR THE YEAR ENDED NOVEMBER 30, 1996.
</LEGEND>
<CIK> 0000851173
<NAME> OCC CASH RESERVES
<SERIES>
<NUMBER> 2
<NAME> GENERAL MUNICIPAL PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-START> DEC-01-1995
<PERIOD-END> NOV-30-1996
<INVESTMENTS-AT-COST> 120084850
<INVESTMENTS-AT-VALUE> 120084850
<RECEIVABLES> 2338178
<ASSETS-OTHER> 15470
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 122438498
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 156706
<TOTAL-LIABILITIES> 156706
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 122372530
<SHARES-COMMON-STOCK> 122373195
<SHARES-COMMON-PRIOR> 116057333
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (90738)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 122281792
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4588062
<OTHER-INCOME> 0
<EXPENSES-NET> (1288037)
<NET-INVESTMENT-INCOME> 3300025
<REALIZED-GAINS-CURRENT> 1357
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3301382
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3300025)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 718878788
<NUMBER-OF-SHARES-REDEEMED> (715812543)
<SHARES-REINVESTED> 3249617
<NET-CHANGE-IN-ASSETS> 6315862
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (92095)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 638004
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1289781<F1>
<AVERAGE-NET-ASSETS> 130667601
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .025
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.025)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .99
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>(55)GROSS OF EXPENSE OFFSETS-$3,283
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
OCC CASH RESERVES - GOVERNMENT PORTFOLIO ANNUAL REPORT
FOR THE YEAR ENDED NOVEMBER 30, 1996.
</LEGEND>
<CIK> 0000851173
<NAME> OCC CASH RESERVES
<SERIES>
<NUMBER> 3
<NAME> GOVERNMENT PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-START> DEC-01-1995
<PERIOD-END> NOV-30-1996
<INVESTMENTS-AT-COST> 101026239
<INVESTMENTS-AT-VALUE> 101026239
<RECEIVABLES> 171302
<ASSETS-OTHER> 107967
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 101305508
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 170004
<TOTAL-LIABILITIES> 170004
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 101135642
<SHARES-COMMON-STOCK> 101157835
<SHARES-COMMON-PRIOR> 108596523
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (138)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 101135504
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5675674
<OTHER-INCOME> 0
<EXPENSES-NET> (1048383)
<NET-INVESTMENT-INCOME> 4627291
<REALIZED-GAINS-CURRENT> (138)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4627153
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4627291)
<DISTRIBUTIONS-OF-GAINS> (700)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 547203168
<NUMBER-OF-SHARES-REDEEMED> (559243310)
<SHARES-REINVESTED> 4601454
<NET-CHANGE-IN-ASSETS> (7438688)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 700
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 520106
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1056124<F1>
<AVERAGE-NET-ASSETS> 104838715
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .044
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.044)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>(55) GROSS OF EXPENSE OFFSETS- $7,483
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
OCC CASH RESERVES - NEW YORK MUNICIPAL PORTFOLIO ANNUAL REPORT
FOR THE YEAR ENDED NOVEMBER 30, 1996.
</LEGEND>
<CIK> 0000851173
<NAME> OCC CASH RESERVES
<SERIES>
<NUMBER> 4
<NAME> NEW YORK MUNICIPAL PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-START> DEC-01-1995
<PERIOD-END> NOV-30-1996
<INVESTMENTS-AT-COST> 57687118
<INVESTMENTS-AT-VALUE> 57687118
<RECEIVABLES> 2304948
<ASSETS-OTHER> 101757
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 60093823
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 97701
<TOTAL-LIABILITIES> 97701
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 60019923
<SHARES-COMMON-STOCK> 60019923
<SHARES-COMMON-PRIOR> 52366926
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (23801)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 59996122
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2146269
<OTHER-INCOME> 0
<EXPENSES-NET> (609176)
<NET-INVESTMENT-INCOME> 1537093
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1537093
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1537093)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 317110184
<NUMBER-OF-SHARES-REDEEMED> (310927499)
<SHARES-REINVESTED> 1470312
<NET-CHANGE-IN-ASSETS> 7652997
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (23801)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 313061
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 621123<F1>
<AVERAGE-NET-ASSETS> 62612204
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .025
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.025)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .97
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>(55) GROSS OF EXPENSE OFFSETS- $4,081
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
OCC CASH RESERVES -PRIMARY PORTFOLIO ANNUAL REPORT FOR THE YEAR
ENDED NOVEMBER 30, 1996.
</LEGEND>
<CIK> 0000851173
<NAME> OCC CASH RESERVES
<SERIES>
<NUMBER> 1
<NAME> PRIMARY PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1996
<PERIOD-START> DEC-01-1995
<PERIOD-END> NOV-30-1996
<INVESTMENTS-AT-COST> 1710782967
<INVESTMENTS-AT-VALUE> 1710782967
<RECEIVABLES> 4543418
<ASSETS-OTHER> 343054
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1715669439
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3088678
<TOTAL-LIABILITIES> 3088678
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1712580849
<SHARES-COMMON-STOCK> 1712620019
<SHARES-COMMON-PRIOR> 1671168463
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (88)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1712580761
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 93426661
<OTHER-INCOME> 0
<EXPENSES-NET> (15508256)
<NET-INVESTMENT-INCOME> 77918405
<REALIZED-GAINS-CURRENT> (88)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 77918317
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (77918405)
<DISTRIBUTIONS-OF-GAINS> (68)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9931873061
<NUMBER-OF-SHARES-REDEEMED> (9966080610)
<SHARES-REINVESTED> 75659105
<NET-CHANGE-IN-ASSETS> 41451556
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 68
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6981092
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 15515788<F1>
<AVERAGE-NET-ASSETS> 1695272657
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .046
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.046)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .91
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>(55) GROSS OF EXPENSE OFFSETS - $7,532
</FN>
</TABLE>
