<PAGE> PAGE 1
000 B000000 06/30/96
000 C000000 854437
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 CENTENNIAL CALIFORNIA TAX EXEMPT TRUST
001 B000000 811-5871
001 C000000 3036713200
002 A000000 3410 SOUTH GALENA STREET
002 B000000 DENVER
002 C000000 CO
002 D010000 80231
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
012 A000001 SHAREHOLDER SERVICES, INC.
012 B000001 84-907
012 C010001 DENVER
012 C020001 CO
012 C030001 80217
018 000000 Y
019 A000000 Y
019 B000000 7
019 C000000 CENTENNIAL
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000001 13-5674085
020 C000001 17
020 A000002 GOLDMAN, SACHS & CO.
020 B000002 13-5108880
020 C000002 15
020 A000003 SMITH BARNEY, HARRIS UPHAM & CO., INC.
020 B000003 13-3371860
020 C000003 7
020 A000004 CITIBANK, N.A.
020 B000004 13-5266470
020 C000004 4
020 A000005 OPPENHEIMER & CO., INC.
020 B000005 13-2798343
020 C000005 3
020 A000006 ARTEMIS CAPITAL GROUP, INC.
020 B000006 13-2958859
020 C000006 3
020 A000007 BEAR SECURITIES CORP.
020 B000007 13-3299429
<PAGE> PAGE 2
020 C000007 2
020 A000008 GORDON-DALY GRENADIER SECURITIES
020 B000008 FOREIGN
020 C000008 2
020 A000009 LEHMAN BROTHERS, INC.
020 B000009 13-2518466
020 C000009 2
020 A000010 PAINEWEBBER, INC.
020 B000010 13-2638166
020 C000010 1
021 000000 125
022 A000001 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
022 B000001 13-5674085
022 C000001 37018
022 D000001 17072
022 A000002 GOLDMAN, SACHS & CO.
022 B000002 13-5108880
022 C000002 47050
022 D000002 0
022 A000003 SMITH BARNEY, HARRIS UPHAM & CO., INC.
022 B000003 13-3371860
022 C000003 20300
022 D000003 3200
022 A000004 CITIBANK,N.A.
022 B000004 13-5266470
022 C000004 12400
022 D000004 0
022 A000005 OPPENHEIMER & CO., INC.
022 B000005 13-2798343
022 C000005 10554
022 D000005 0
022 A000006 ARTEMIS CAPITAL GROUP, INC.
022 B000006 13-2958959
022 C000006 8940
022 D000006 0
022 A000007 BEAR SECURITIES CORP.
022 B000007 13-3299429
022 C000007 1011
022 D000007 5401
022 A000008 GORDON-DALY GRENADIER SECURITIES
022 B000008 FOREIGN
022 C000008 6000
022 D000008 0
022 A000009 LEHMAN BROTHERS, INC.
022 B000009 13-2518466
022 C000009 5000
022 D000009 0
022 A000010 PAINEWEBBER, INC.
022 B000010 13-2638166
022 C000010 2500
022 D000010 2000
<PAGE> PAGE 3
023 C000000 338376
023 D000000 200189
028 A010000 45591
028 A020000 251
028 A030000 0
028 A040000 28600
028 B010000 28145
028 B020000 244
028 B030000 0
028 B040000 25911
028 C010000 32011
028 C020000 309
028 C030000 0
028 C040000 31711
028 D010000 47104
028 D020000 242
028 D030000 0
028 D040000 40918
028 E010000 23051
028 E020000 281
028 E030000 0
028 E040000 30047
028 F010000 40969
028 F020000 225
028 F030000 0
028 F040000 45941
028 G010000 216871
028 G020000 1552
028 G030000 0
028 G040000 203128
028 H000000 0
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 100
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 221
044 000000 0
055 A000000 Y
055 B000000 N
056 000000 N
057 000000 N
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 97.0
062 F000000 0.0
<PAGE> PAGE 4
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 36
063 B000000 0.0
064 A000000 Y
064 B000000 N
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 Y
070 Q010000 N
070 Q020000 N
070 R010000 N
<PAGE> PAGE 5
070 R020000 N
071 A000000 0
071 B000000 0
071 C000000 0
071 D000000 0
072 A000000 12
072 B000000 4203
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 565
072 G000000 0
072 H000000 0
072 I000000 42
072 J000000 16
072 K000000 3
072 L000000 21
072 M000000 2
072 N000000 20
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 10
072 S000000 1
072 T000000 221
072 U000000 0
072 V000000 0
072 W000000 4
072 X000000 905
072 Y000000 16
072 Z000000 3314
072AA000000 113
072BB000000 100
072CC010000 0
072CC020000 0
072DD010000 26507
072DD020000 0
072EE000000 0
073 A010000 0.0301
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 221
074 B000000 0
074 C000000 115319
074 D000000 0
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
<PAGE> PAGE 6
074 J000000 0
074 K000000 0
074 L000000 8331
074 M000000 7
074 N000000 123878
074 O000000 0
074 P000000 2
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 5038
074 S000000 0
074 T000000 118838
074 U010000 118837
074 U020000 0
074 V010000 1.00
074 V020000 0.00
074 W000000 1.0001
074 X000000 2567
074 Y000000 0
075 A000000 112911
075 B000000 0
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000 68525
081 A000000 Y
081 B000000 90
082 A000000 N
082 B000000 0
083 A000000 N
<PAGE> PAGE 7
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
<PAGE>
DELOITTE & TOUCHE LLP/LOGO/
Suite 3600
555 Seventeenth Street
Denver, Colorado 80202-3942
Telephone: (303)292-5400
Facsimile: (303)312-4000
To the Board of Trustees of
Centennial California Tax Exempt Trust:
In planning and performing our audit of the financial statements of Centennial
California Tax Exempt Trust (the Fund) for the year ended June 30, 1996 (on
which we have issued our report dated July 22, 1996), we considered its internal
control structure, including procedures 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 structure.
The management of the Fund is responsible for establishing and maintaining
an internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition and that transactions are executed in
accordance with management's authorization and recorded properly to permit
preparation of financial statements in conformity with generally accepted
accounting principles.
Because of inherent limitations in any internal control structure, errors
or irregularities may occur and not be detected. Also, projection of any
evaluation of the structure 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 the internal control structure would not necessarily
disclose all matters in the internal control structure 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 the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities 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 the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1996.
This report is intended solely for the information and use of management,
the Board of Trustees and the Securities and Exchange Commission.
Yours truly,
/S/Deloitte & Touche LLP
July 22, 1996
- ---------------
DELOITTE TOUCHE
TOHMATSU
INTERNATIONAL
- ---------------
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 854437
<NAME> CENTENNIAL CALIFORNIA TAX EXEMPT TRUST
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-START> JUL-01-1995
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 115,318,751
<INVESTMENTS-AT-VALUE> 115,318,751
<RECEIVABLES> 8,331,343
<ASSETS-OTHER> 6,927
<OTHER-ITEMS-ASSETS> 220,987
<TOTAL-ASSETS> 123,878,008
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,039,846
<TOTAL-LIABILITIES> 5,039,846
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 118,836,535
<SHARES-COMMON-STOCK> 118,836,535
<SHARES-COMMON-PRIOR> 92,329,399
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,627
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 118,838,162
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,203,370
<OTHER-INCOME> 0
<EXPENSES-NET> 889,212
<NET-INVESTMENT-INCOME> 3,314,158
<REALIZED-GAINS-CURRENT> 13,191
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3,327,349
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3,314,158
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 397,706,144
<NUMBER-OF-SHARES-REDEEMED> 374,480,820
<SHARES-REINVESTED> 3,281,812
<NET-CHANGE-IN-ASSETS> 26,520,327
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (11,564)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 565,052
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 905,228
<AVERAGE-NET-ASSETS> 112,911,000
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.03
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.79
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
