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<PAGE> PAGE 14
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064 A000500 Y
064 B000500 N
070 A010500 Y
070 A020500 N
<PAGE> PAGE 21
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 2125
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 322
072 G000500 32
072 H000500 0
072 I000500 20
072 J000500 12
072 K000500 0
072 L000500 2
072 M000500 27
<PAGE> PAGE 22
072 N000500 2
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 14
072 S000500 1
072 T000500 161
072 U000500 0
072 V000500 0
072 W000500 17
072 X000500 610
072 Y000500 0
072 Z000500 1515
072AA000500 0
072BB000500 0
072CC010500 0
072CC020500 0
072DD010500 1515
072DD020500 0
072EE000500 0
073 A010500 0.0237
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 88
074 B000500 0
074 C000500 69396
074 D000500 0
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 986
074 M000500 4
074 N000500 70474
074 O000500 0
074 P000500 6
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 75
074 S000500 0
074 T000500 70393
074 U010500 70424
074 U020500 0
074 V010500 1.00
074 V020500 0.00
<PAGE> PAGE 23
074 W000500 1.0001
074 X000500 1512
074 Y000500 0
075 A000500 64316
075 B000500 0
076 000500 0.00
SIGNATURE RICHARD PETEKA
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
OCC CASH RESERVES - PRIMARY PORTFOLIO ANNUAL REPORT FOR THE YEAR ENDED
NOVEMBER 30, 1998.
</LEGEND>
<CIK> 0000851173
<NAME> OCC CASH RESERVES
<SERIES>
<NUMBER> 1
<NAME> PRIMARY PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 2515901430
<INVESTMENTS-AT-VALUE> 2515901430
<RECEIVABLES> 60761986
<ASSETS-OTHER> 270008
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2576933424
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4494770
<TOTAL-LIABILITIES> 4494770
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2572439310
<SHARES-COMMON-STOCK> 2572478480
<SHARES-COMMON-PRIOR> 2166612730
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (656)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2572438654
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 126036448
<OTHER-INCOME> 0
<EXPENSES-NET> (18565260)
<NET-INVESTMENT-INCOME> 107471188
<REALIZED-GAINS-CURRENT> 449
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 107471637
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (107471188)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 14416847565
<NUMBER-OF-SHARES-REDEEMED> (14117821757)
<SHARES-REINVESTED> 106839942
<NET-CHANGE-IN-ASSETS> 405866199
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1105)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9186601
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 18613932<F1>
<AVERAGE-NET-ASSETS> 2246650283
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .048
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.048)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .83
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>GROSS OF EXPENSES OFFSET $48,672.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
OCC CASH RESERVES - GENERAL MUNICIPAL ANNUAL REPORT FOR THE YEAR ENDED
NOVEMBER 30, 1998.
</LEGEND>
<CIK> 0000851173
<NAME> OCC CASH RESERVES
<SERIES>
<NUMBER> 2
<NAME> GENERAL MUNICIPAL PORTOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 162897340
<INVESTMENTS-AT-VALUE> 162897340
<RECEIVABLES> 9028764
<ASSETS-OTHER> 79505
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 172005609
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 189583
<TOTAL-LIABILITIES> 189583
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 171867487
<SHARES-COMMON-STOCK> 171909991
<SHARES-COMMON-PRIOR> 137064901
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (51461)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 171816026
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5719947
<OTHER-INCOME> 0
<EXPENSES-NET> (1479337)
<NET-INVESTMENT-INCOME> 4240610
<REALIZED-GAINS-CURRENT> (709)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4239901
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4240610)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1032098542
<NUMBER-OF-SHARES-REDEEMED> (1001476568)
<SHARES-REINVESTED> 4223116
<NET-CHANGE-IN-ASSETS> 34844381
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (80264)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 777022
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1486292<F1>
<AVERAGE-NET-ASSETS> 161560481
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .026
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.026)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .92
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>
GROSS OF EXPENSES OFFSET - $6,955.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
OCC CASH RESERVES - GOVERNMENT PORTFOLIO ANNUAL REPORT FOR THE YEAR ENDED
NOVEMBER 30, 1998.
</LEGEND>
<CIK> 0000851173
<NAME> OCC CASH RESERVES
<SERIES>
<NUMBER> 3
<NAME> GOVERNMENT PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 111353077
<INVESTMENTS-AT-VALUE> 111353077
<RECEIVABLES> 918764
<ASSETS-OTHER> 102593
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 112374434
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 228525
<TOTAL-LIABILITIES> 228525
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 112145649
<SHARES-COMMON-STOCK> 112167842
<SHARES-COMMON-PRIOR> 100000675
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 260
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 112145909
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5204436
<OTHER-INCOME> 0
<EXPENSES-NET> (919424)
<NET-INVESTMENT-INCOME> 4285012
<REALIZED-GAINS-CURRENT> 523
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4285535
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4285012)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 642903095
<NUMBER-OF-SHARES-REDEEMED> (634993342)
<SHARES-REINVESTED> 4257414
<NET-CHANGE-IN-ASSETS> 12167690
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (263)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 471925
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 924779<F1>
<AVERAGE-NET-ASSETS> 94670967
<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> .98
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>GROSS OF EXPENSES OFFSET - $3,774.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
OCC CASH RESERVES - NEW YORK MUNICIPAL PORTFOLIO ANNUAL REPORT FOR THE
YEAR ENDED NOVEMBER 30,1998.
</LEGEND>
<CIK> 0000851173
<NAME> OCC CASH RESERVES
<SERIES>
<NUMBER> 4
<NAME> NEW YORK MUNICIPAL PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 80679891
<INVESTMENTS-AT-VALUE> 80679891
<RECEIVABLES> 3508583
<ASSETS-OTHER> 69142
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 84257616
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 109311
<TOTAL-LIABILITIES> 109311
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 84172900
<SHARES-COMMON-STOCK> 84172900
<SHARES-COMMON-PRIOR> 73263311
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (24595)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 84148305
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2616666
<OTHER-INCOME> 0
<EXPENSES-NET> (740342)
<NET-INVESTMENT-INCOME> 1876324
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1876324
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1876324)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 500835718
<NUMBER-OF-SHARES-REDEEMED> (491805768)
<SHARES-REINVESTED> 1879639
<NET-CHANGE-IN-ASSETS> 10909589
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (24595)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 381464
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 744644<F1>
<AVERAGE-NET-ASSETS> 76292874
<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> .98
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>GROSS OF EXPENSES OFFSET - $4,302.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
OCC CASH RESERVES - CALIFORNIA MUNICIPAL PORTFOLIO ANNUAL REPORT FOR THE
YEAR ENDED NOVEMBER 30, 1998.
</LEGEND>
<CIK> 0000851173
<NAME> OCC CASH RESERVES
<SERIES>
<NUMBER> 5
<NAME> CALIFORNIA MUNICIPAL PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 69395730
<INVESTMENTS-AT-VALUE> 69395730
<RECEIVABLES> 985834
<ASSETS-OTHER> 91954
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 70473518
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 80947
<TOTAL-LIABILITIES> 80947
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 70424018
<SHARES-COMMON-STOCK> 70424019
<SHARES-COMMON-PRIOR> 55744781
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (31447)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 70392571
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2125059
<OTHER-INCOME> 0
<EXPENSES-NET> (609628)
<NET-INVESTMENT-INCOME> 1515431
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1515431
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1515431)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 429969028
<NUMBER-OF-SHARES-REDEEMED> (416803566)
<SHARES-REINVESTED> 1513776
<NET-CHANGE-IN-ASSETS> 14679238
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (31447)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 321580
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 613888<F1>
<AVERAGE-NET-ASSETS> 64316012
<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> .95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>GROSS OF EXPENSES OFFSET - $4,260.
</FN>
</TABLE>
Report of Independent Accountants
To the Shareholders and Board of Directors of
OCC Cash Reserves
In planning and performing our audit of the financial statements of
OCC Cash Reserves (the "Fund") for the year ended November 30,
1998, we considered its internal control, including control activities
for safeguarding securities, in order to determine our auditing procedures
for the purpose of expressing our opinion on the financial statements and
to comply with the requirements of Form N-SAR, not to provide assurance
on internal control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments
by management are required to assess the expected benefits and related
costs of controls. Generally, controls that are relevant to an audit pertain
to the entity's objective of preparing financial statements for external
purposes that are fairly presented in conformity with generally accepted
accounting principles. Those controls include the safeguarding of assets
against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or 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 November 30, 1998.
This report is intended solely for the information and use of management
and the Board of Directors of the Fund and the Securities and Exchange
Commission.
PricewaterhouseCoopers LLP
January 22, 1999
To the Shareholders and Board of Directors of
OCC Cash Reserves
S:\IMSGRP\QUEST\MISC\NSAR_OCC CSH RESERVES.doc 1/14/99 10:49:05 AM sa
64902-300-1
S:\IMSGRP\QUEST\MISC\NSAR_OCC CSH RESERVES.doc 1/14/99 10:49:05 AM sa
