BT INSTITUTIONAL FUNDS
NSAR-B, 1996-03-04
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<PAGE>      
000 B000000 12/31/95
000 C000000 0000862157
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 BT INSTITUTIONAL
001 B000000 811-06071
001 C000000 8164354372
002 A000000 127 W. 10TH ST
002 B000000 KANSAS CITY
002 C000000 MO
002 D010000 64105
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  6
007 C010100  1
007 C020100 INSTITUTIONAL CASH MANAGEMENT FUND
007 C030100 N
007 C010200  2
007 C020200 INSTITUTIONAL TREASURY MONEY FUND
007 C030200 N
007 C010300  3
007 C020300 INSTITUTIONAL EQUITY 500 INDEX FUND
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C020600 INSTITUTIONAL SHORT/INTER US GOV'T FUND
007 C030600 N
007 C010700  7
007 C020700 INSTITUTIONAL CASH RESERVE FUND
007 C030700 N
007 C010800  8
007 C020800 INSTITUTIONAL LIQUID ASSETS FUND
007 C030800 N
007 C010900  9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
<PAGE>      
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
010 A00AA01 BANKERS TRUST COMPANY
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10006
011 A00AA01 SIGNATURE BROKER-DEALER SECURITIES, INC
011 B00AA01 8-41134
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02116
012 A00AA01 INVESTORS FIDUCIARY TRUST CO
012 B00AA01 84-XXXXXXX
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 COOPERS & LYBRAND
013 B01AA01 KANSAS CITY
013 B02AA01 MO
013 B03AA01 64105
013 B04AA01 1716
015 A00AA01 BANKERS TRUST COMPANY
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10006
015 E03AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   46
<PAGE>      
019 C00AA00 BTTINFUNDS
020 C000001      0
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        0
022 A000001 1   CASH MANAGEMENT PORTFOLIO
022 B000001 04-3086682
022 C000001  24691075
022 D000001  24544249
022 A000002 2.  TREASURY MONEY PORTFOLIO
022 B000002 04-3086681
022 C000002   5234318
022 D000002   4123412
022 A000003 3.  LIQUID ASSETS PORTFOLIO
022 B000003 04-3192974
022 C000003   1679671
022 D000003    202287
022 A000004 4.  EQUITY 500 INDEX PORTFOLIO
022 B000004 04-3148831
022 C000004    416263
022 D000004    148584
022 A000005 5.  SHORT INTERMEDIATE U.S GOVERNMENT PORT
022 B000005 04-3148808
022 C000005         0
022 D000005         1
022 C000006         0
022 D000006         0
022 C000007         0
022 D000007         0
022 C000008         0
022 D000008         0
022 C000009         0
022 D000009         0
022 C000010         0
022 D000010         0
023 C000000   32021327
023 D000000   29018532
024  00AA00 N
025 D00AA01       0
025 D00AA02       0
025 D00AA03       0
025 D00AA04       0
025 D00AA05       0
025 D00AA06       0
<PAGE>      
025 D00AA07       0
025 D00AA08       0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
029  00AA00 N
030 A00AA00      0
030 B00AA00  0.00
030 C00AA00  0.00
031 A00AA00      0
031 B00AA00      0
032  00AA00      0
033  00AA00      0
034  00AA00 N
035  00AA00      0
036 B00AA00      0
037  00AA00 N
038  00AA00      0
039  00AA00 N
040  00AA00 N
041  00AA00 N
042 A00AA00   0
042 B00AA00   0
042 C00AA00   0
042 D00AA00   0
042 E00AA00   0
042 F00AA00   0
042 G00AA00   0
042 H00AA00   0
043  00AA00      0
044  00AA00      0
045  00AA00 N
048  00AA00  0.000
048 A01AA00        0
048 A02AA00 0.000
048 B01AA00        0
048 B02AA00 0.000
048 C01AA00        0
048 C02AA00 0.000
048 D01AA00        0
048 D02AA00 0.000
048 E01AA00        0
048 E02AA00 0.000
048 F01AA00        0
<PAGE>      
048 F02AA00 0.000
048 G01AA00        0
048 G02AA00 0.000
048 H01AA00        0
048 H02AA00 0.000
048 I01AA00        0
048 I02AA00 0.000
048 J01AA00        0
048 J02AA00 0.000
048 K01AA00        0
048 K02AA00 0.000
055 A00AA00 N
055 B00AA00 N
056  00AA00 N
057  00AA00 N
062 A00AA00 N
062 B00AA00   0.0
062 C00AA00   0.0
062 D00AA00   0.0
062 E00AA00   0.0
062 F00AA00   0.0
062 G00AA00   0.0
062 H00AA00   0.0
062 I00AA00   0.0
062 J00AA00   0.0
062 K00AA00   0.0
062 L00AA00   0.0
062 M00AA00   0.0
062 N00AA00   0.0
062 O00AA00   0.0
062 P00AA00   0.0
062 Q00AA00   0.0
062 R00AA00   0.0
077 A000000 Y
077 B000000 Y
078  000000 N
080 A00AA00 NATIONAL UNION INSURANCE COMPANY
080 C00AA00     7950
081 A00AA00 Y
081 B00AA00  22
082 A00AA00 Y
082 B00AA00       25
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
086 A010000      0
086 A020000      0
086 B010000      0
<PAGE>      
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
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086 F010000      0
086 F020000      0
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028 C020100      2422
028 C030100         0
028 C040100    775578
028 D010100    963444
028 D020100      2140
028 D030100         0
028 D040100    828376
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028 E020100      2707
028 E030100         0
028 E040100   1081303
028 F010100   1614495
028 F020100      7072
028 F030100         0
028 F040100   1566934
028 G010100   5991201
028 G020100     16730
028 G030100         0
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028 H000100         0
058 A000100 N
059  000100 Y
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061  000100  1000000
066 A000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 N
070 B010100 N
<PAGE>      
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100         0
071 B000100         0
071 C000100         0
071 D000100    0
072 A000100 12
072 B000100        0
072 C000100        0
072 D000100        0
072 E000100    37803
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072 G000100      327
072 H000100        0
072 I000100        0
072 J000100        0
072 K000100        0
072 L000100       22
072 M000100        6
072 N000100       86
<PAGE>      
072 O000100        1
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072 R000100        5
072 S000100        4
072 T000100        0
072 U000100        0
072 V000100        0
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072 X000100      456
072 Y000100      129
072 Z000100    37476
072AA000100       69
072BB000100        0
072CC010100        0
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072DD010100    37476
072DD020100        0
072EE000100        0
073 A010100   0.0574
073 A020100   0.0000
073 B000100   0.0000
073 C000100   0.0000
074 A000100        0
074 B000100        0
074 C000100        0
074 D000100        0
074 E000100        0
074 F000100        0
074 G000100        0
074 H000100        0
074 I000100  1011458
074 J000100        0
074 K000100       46
074 L000100       21
074 M000100       27
074 N000100  1011552
074 O000100        0
074 P000100        0
074 Q000100        0
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074 V020100     0.00
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<PAGE>      
074 X000100      620
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075 A000100   654691
075 B000100        0
076  000100     0.00
028 A010200    705787
028 A020200         0
028 A030200         0
028 A040200    159215
028 B010200    243675
028 B020200      1228
028 B030200         0
028 B040200    223154
028 C010200    421583
028 C020200      1519
028 C030200         0
028 C040200    500653
028 D010200    730988
028 D020200      1579
028 D030200         0
028 D040200    389042
028 E010200    944317
028 E020200      2479
028 E030200         0
028 E040200    824435
028 F010200   1240814
028 F020200      5043
028 F030200         0
028 F040200   1084017
028 G010200   4287164
028 G020200     11848
028 G030200         0
028 G040200   3180516
028 H000200         0
058 A000200 N
059  000200 Y
060 A000200 Y
060 B000200 Y
061  000200  1000000
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
<PAGE>      
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 Y
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200         0
071 B000200         0
071 C000200         0
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072 A000200 12
072 B000200        0
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072 F000200        0
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072 I000200        0
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072 K000200        0
072 L000200       18
072 M000200        6
072 N000200      292
072 O000200        1
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072 R000200        5
<PAGE>      
072 S000200        4
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072 W000200       14
072 X000200      614
072 Y000200      340
072 Z000200    30334
072AA000200       74
072BB000200        0
072CC010200        0
072CC020200        0
072DD010200    30334
072DD020200        0
072EE000200       40
073 A010200   0.0556
073 A020200   0.0000
073 B000200   0.0000
073 C000200   0.0000
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074 V020200     0.00
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075 A000200   548438
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<PAGE>      
076  000200     0.00
028 A010300     22422
028 A020300      2739
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028 A040300      4120
028 B010300     66551
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028 B040300      9423
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028 D010300    126368
028 D020300      3601
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028 D040300      8487
028 E010300     37721
028 E020300         0
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028 E040300     49000
028 F010300     31255
028 F020300      3550
028 F030300         0
028 F040300      6364
028 G010300    294758
028 G020300      9890
028 G030300         0
028 G040300     92413
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058 A000300 N
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066 A000300 Y
066 B000300 N
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066 D000300 Y
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066 G000300 N
067  000300 N
068 A000300 N
068 B000300 N
069  000300 N
070 A010300 Y
070 A020300 N
070 B010300 Y
070 B020300 N
070 C010300 Y
<PAGE>      
070 C020300 N
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070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 Y
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070 M020300 N
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070 O010300 Y
070 O020300 N
070 P010300 Y
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070 Q010300 N
070 Q020300 N
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070 R020300 N
071 A000300         0
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072 A000300 12
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<PAGE>      
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073 A010300   0.3023
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<PAGE>      
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<PAGE>      
070 E020600 N
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<PAGE>      
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<PAGE>      
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<PAGE>      
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072 X000700      508
<PAGE>      
072 Y000700      508
072 Z000700    53683
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072BB000700        0
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076  000700     0.00
028 A010800         0
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<PAGE>
028 B020800         0
028 B030800         0
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028 F040800    202287
028 G010800   1679671
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028 G030800         0
028 G040800    202287
028 H000800         0
058 A000800 N
059  000800 Y
060 A000800 Y
060 B000800 Y
061  000800 10000000
066 A000800 N
067  000800 N
068 A000800 N
068 B000800 N
069  000800 N
070 A010800 Y
070 A020800 N
070 B010800 N
070 B020800 N
070 C010800 N
070 C020800 N
070 D010800 N
070 D020800 N
070 E010800 N
070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 N
070 G020800 N
070 H010800 N
070 H020800 N
070 I010800 N
<PAGE>
070 I020800 N
070 J010800 N
070 J020800 N
070 K010800 Y
070 K020800 Y
070 L010800 Y
070 L020800 N
070 M010800 N
070 M020800 N
070 N010800 Y
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 Y
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
071 A000800         0
071 B000800         0
071 C000800         0
071 D000800    0
072 A000800  1
072 B000800        0
072 C000800        0
072 D000800        0
072 E000800     4188
072 F000800        0
072 G000800       38
072 H000800        0
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072 J000800        0
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072 M000800        1
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072 O000800        1
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072BB000800        0
<PAGE>
072CC010800        0
072CC020800        0
072DD010800     4188
072DD020800        0
072EE000800        0
073 A010800   0.0031
073 A020800   0.0000
073 B000800   0.0000
073 C000800   0.0000
074 A000800        0
074 B000800        0
074 C000800        0
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074 F000800        0
074 G000800        0
074 H000800        0
074 I000800  1481589
074 J000800        0
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074 L000800        0
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074 O000800        0
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074 R040800     4686
074 S000800        0
074 T000800  1477401
074 U010800  1477384
074 U020800        0
074 V010800     1.00
074 V020800     0.00
074 W000800   1.0001
074 X000800        1
074 Y000800        0
075 A000800  1322284
075 B000800        0
076  000800     0.00
SIGNATURE   DAVID J. KEALEY                              
TITLE       FUND ADMINISTRATOR  
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Institutional Cash Management Fund Annual Report dated December 31, 1995 and is
qualified in its entirety by reference to such Annual Report.
</LEGEND>
<CIK> 0000862157
<NAME> INSTITUTIONAL CASH MANAGEMENT FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               DEC-31-1995
<INVESTMENTS-AT-COST>                       1011457730
<INVESTMENTS-AT-VALUE>                      1011457730
<RECEIVABLES>                                    66941
<ASSETS-OTHER>                                   27497
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              1011552168
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       677756
<TOTAL-LIABILITIES>                             677756
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1011568872
<SHARES-COMMON-STOCK>                       1011568872
<SHARES-COMMON-PRIOR>                        664912250
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (694460)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                1010874412
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                37803062
<EXPENSES-NET>                                  327340
<NET-INVESTMENT-INCOME>                       37475722
<REALIZED-GAINS-CURRENT>                         69289
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                         37545011
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     37475722
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     9449379844
<NUMBER-OF-SHARES-REDEEMED>                 9131737120
<SHARES-REINVESTED>                           29013898
<NET-CHANGE-IN-ASSETS>                       346725911
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (763749)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 456570
<AVERAGE-NET-ASSETS>                         654690855
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .06
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .06
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                     23
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Institutional Treasury Money Fund Annual Report dated December 31, 1995, and is
qualified in its entirety by reference to such Annual Report.
</LEGEND>
<CIK> 0000862157
<NAME> INSTITUTIONAL TREASURY MONEY FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               DEC-31-1995
<INVESTMENTS-AT-COST>                       1325387722
<INVESTMENTS-AT-VALUE>                      1325387722
<RECEIVABLES>                                   194636
<ASSETS-OTHER>                                    4002
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              1325586360
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       517077
<TOTAL-LIABILITIES>                             517077
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1325057506
<SHARES-COMMON-STOCK>                       1325057506
<SHARES-COMMON-PRIOR>                        182124070
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          11777
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                1325069283
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                30608120
<EXPENSES-NET>                                  274216
<NET-INVESTMENT-INCOME>                       30333904
<REALIZED-GAINS-CURRENT>                         74117
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                         30408021
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     30333904
<DISTRIBUTIONS-OF-GAINS>                         39668
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     5234318300
<NUMBER-OF-SHARES-REDEEMED>                 4107617255
<SHARES-REINVESTED>                           16232391
<NET-CHANGE-IN-ASSETS>                      1142967885
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      (22672)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 614594
<AVERAGE-NET-ASSETS>                         548438303
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .06
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .06
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                     25
<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
Institutional Equity 500 Index Fund Annual Report dated December 31, 1995 and is
qualified in its entirety by reference to such Annual Report.
</LEGEND>
<CIK> 0000862157
<NAME> INSTITUTIONAL EQUITY 500 INDEX FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               DEC-31-1995
<INVESTMENTS-AT-COST>                        800920963
<INVESTMENTS-AT-VALUE>                       800920963
<RECEIVABLES>                                   246461
<ASSETS-OTHER>                                   15496
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               801182920
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       631540
<TOTAL-LIABILITIES>                             631540
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     656312245
<SHARES-COMMON-STOCK>                         57325199
<SHARES-COMMON-PRIOR>                         35570299
<ACCUMULATED-NII-CURRENT>                         5199
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (3177433)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     147411369
<NET-ASSETS>                                 800551380
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                13634670
<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                       13634670
<REALIZED-GAINS-CURRENT>                       3191697
<APPREC-INCREASE-CURRENT>                    148857754
<NET-CHANGE-FROM-OPS>                        165684121
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     13707456
<DISTRIBUTIONS-OF-GAINS>                       3288270
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       32375846
<NUMBER-OF-SHARES-REDEEMED>                   11827395
<SHARES-REINVESTED>                            1206449
<NET-CHANGE-IN-ASSETS>                       429335726
<ACCUMULATED-NII-PRIOR>                          77986
<ACCUMULATED-GAINS-PRIOR>                    (3081635)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 421776
<AVERAGE-NET-ASSETS>                         540658777
<PER-SHARE-NAV-BEGIN>                            10.44
<PER-SHARE-NII>                                    .30
<PER-SHARE-GAIN-APPREC>                           3.59
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .36
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               3.97
<EXPENSE-RATIO>                                     10
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Institutional Short/Inter US Gov't Fund Annual Report dated December 31, 1995,
and is qualified in its entirety by reference to such Annual Report.
</LEGEND>
<CIK> 0000462157
<NAME> INSTITUTIONAL SHORT/INTER US GOV'T FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               DEC-31-1995
<INVESTMENTS-AT-COST>                          2193610
<INVESTMENTS-AT-VALUE>                         2193610
<RECEIVABLES>                                    16802
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                               828
<TOTAL-ASSETS>                                 2211240
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        21325
<TOTAL-LIABILITIES>                              21325
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       2217801
<SHARES-COMMON-STOCK>                           221098
<SHARES-COMMON-PRIOR>                           208461
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (11843)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (16043)
<NET-ASSETS>                                   2189915
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                  127948
<EXPENSES-NET>                                    4192
<NET-INVESTMENT-INCOME>                         123756
<REALIZED-GAINS-CURRENT>                         33692
<APPREC-INCREASE-CURRENT>                        39464
<NET-CHANGE-FROM-OPS>                           196912
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       123756
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                              12637
<NET-CHANGE-IN-ASSETS>                          196912
<ACCUMULATED-NII-PRIOR>                          90844
<ACCUMULATED-GAINS-PRIOR>                      (45535)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  34366
<AVERAGE-NET-ASSETS>                           2095951
<PER-SHARE-NAV-BEGIN>                             9.56
<PER-SHARE-NII>                                    .58
<PER-SHARE-GAIN-APPREC>                            .34
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .58
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.90
<EXPENSE-RATIO>                                      5
<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 Cash
Reserves Fund Annual Report dated December 31, 1995 and is qualified in its
entirety by reference to such Annual Report.
</LEGEND>
<CIK> 0000862157
<NAME> INSTITUTIONAL CASH RESERVES FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-12-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               DEC-01-1995
<INVESTMENTS-AT-COST>                        821182199
<INVESTMENTS-AT-VALUE>                       821182199
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                    4883
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               821187082
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       213979
<TOTAL-LIABILITIES>                             213979
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     821820371
<SHARES-COMMON-STOCK>                        821820371
<SHARES-COMMON-PRIOR>                        921663806
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (847268)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                 820973103
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                53682885
<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                       53682885
<REALIZED-GAINS-CURRENT>                         94844
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                         53777729
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     53682885
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                    15241716412
<NUMBER-OF-SHARES-REDEEMED>                15394127791
<SHARES-REINVESTED>                           52567944
<NET-CHANGE-IN-ASSETS>                      (99843435)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (942112)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 508395
<AVERAGE-NET-ASSETS>                         925766987
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .06
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .06
<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
Institutional Liquid Assets Fund dated December 31, 1995 and is qualified in its
entirety by reference to such Annual Report.
</LEGEND>
<CIK> 0000862157
<NAME> INSTITUTIONAL LIQUID ASSETS FUND
       
<S>                             <C>
<PERIOD-TYPE>                   1-MO
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             DEC-11-1995
<PERIOD-END>                               DEC-31-1995
<INVESTMENTS-AT-COST>                       1481588880
<INVESTMENTS-AT-VALUE>                      1481588880
<RECEIVABLES>                                   488131
<ASSETS-OTHER>                                    9879
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              1482086890
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      4685762
<TOTAL-LIABILITIES>                            4685762
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1477384445
<SHARES-COMMON-STOCK>                       1477384445
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          16683
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                1477401128
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                 4187751
<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                        4187751
<REALIZED-GAINS-CURRENT>                         16683
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                          4204434
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      4187751
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     1679671203
<NUMBER-OF-SHARES-REDEEMED>                  202286758
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      1477401128
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 526169
<AVERAGE-NET-ASSETS>                        1322283934
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                      2
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</TABLE>

REPORT OF INDEPENDENT ACCOUNTANTS




To the Shareholders and Board of Trustees
BT Institutional Funds:

In planning and performing our audits of the financial  statements and financial
highlights of BT Institutional  Funds for the periods or year ended December 31,
1995, we considered their 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 financial
highlights  and to comply with the  requirements  of Form N-SAR,  not to provide
assurance on the internal control structure.

The management of BT  Institutional  Funds is responsible for  establishing  and
maintaining an internal control  structure.  In fulfilling this  responsibility,
estimates  and  judgements  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  the  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  and  financial
highlights 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 December 31, 1995.

This report is intended  solely for the  information and use of management of BT
Institutional Funds and the Securities and Exchange Commission.


                                             /s/ COOPERS & LYBRAND L.L.P.


Kansas City, Missouri
February  13, 1996






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