DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND
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LETTER TO SHAREHOLDERS
Dear Shareholder:
We are pleased to provide you with this report on the Dreyfus Connecticut
Municipal Money Market Fund, Inc. for the 12-month period ended September 30,
1998. Your Fund produced a yield of 2.85% and, after taking into account the
effect of compounding, the effective yield was 2.89%.*
The Economy
The risk of global recession loomed large by the end of the reporting period.
Since last summer, the international economic crisis has spread from Asia and
Russia into Latin America and its effects are evident in the U.S., as witnessed
by early signs of a slowing in our domestic economy. Second-quarter gross
domestic product grew at an annual rate of 1.8%, well below the 5.5% rate in the
first quarter, while the trade deficit has continued to widen, affected by
weakening foreign demand and low-priced imports. These developments have
heightened a sense of global economic interdependence and have resulted in a
shift in emphasis by the Federal Reserve Board, whereby fighting inflation has
taken a subordinate role to that of maintaining stable U.S. economic growth. On
September 29, the Federal Open Market Committee cut interest rates for the first
time since January 1996. That quarter-point reduction in the Federal Funds
target rate to 5.25% was designed to cushion the adverse effects of the overseas
economic crisis on the domestic economy. The Federal Funds rate is the interest
rate that banks charge each other for overnight loans.
While the corporate sector wrestles with the economic implications of global
developments, consumers have powered the economy. The reasons for their optimism
are no surprise. Inflation remains tame, running at an annual rate comfortably
below 2% . After-tax income is growing and jobs are plentiful: the unemployment
rate has been at or near 30-year lows throughout the reporting period and new
jobs have been created at a robust pace. The consumer sector comprises two
thirds of the activity in the $8-trillion U.S. economy and, with the business
sector slowing, any significant pullback in household spending could trigger a
recession. Up to now, the spillover effect from developments abroad has been
largely confined to the manufacturing sector, whose activity has contracted of
late due to the falloff in export demand. Aside from this "erosion at the edges"
as Fed Chairman Alan Greenspan describes it, layoffs on a broader scale--a
factor that could weaken consumer resolve to spend--so far have not occurred. It
is clear that the Fed is concerned about the possibility of worldwide recession.
The recent October interest rate reduction was a major step by the Fed toward
mitigating the domestic effects of international financial turmoil and a gesture
meant to serve notice to the world of the seriousness of its purpose.
Market Environment/Portfolio Strategy
The Fed's action to reduce the target rate for Fed Funds provided even greater
strength to the short-term municipal money market. Prior to this action, the
short-term market had already felt the effects of the diminished supply of
eligible new issuance over the summer months. This year's summer calendar of
municipal notes (consisting mainly of California paper) was drastically reduced
by a combination of factors. Due to the strength of local and state economies,
several issuers reduced the amount of short-term borrowing needed. Additionally,
unlike prior years, many issuers came to market with securities with maturities
beyond the 13-month maximum restriction allowable for money funds. Other issues
were converted to a synthetic structure that is not currently permitted for
purchase in your Fund. The overall result was a lower yield for most one-year
paper, both national and state specific.
We extended your Fund's average maturity to the 60-day range in early summer,
just prior to the market strengthening. Your Fund benefited from our purchase of
securities in the one-year range at yields significantly higher than what is
currently available in the market. In mid-summer, yields began to drop and we
utilized the commercial paper market to maintain the Fund's average maturity. In
the months ahead, we will continue to participate in the tax-exempt commercial
paper market as a means of extension while yields in the one-year note market
remain aggressive. In the event of any market weakness, we would consider, if
supply conditions allow, additional purchases of Connecticut-exempt notes in the
one-year range. As always, we will structure the portfolio in an attempt to
maximize current yield while maintaining our commitment to high quality
tax-exempt investments.
Very truly yours,
[Richard J. Moynihan signature logo]
Richard J. Moynihan
Director, Municipal Portfolio Management
The Dreyfus Corporation
October 16, 1998
New York, N.Y.
* Effective yield is based upon dividends declared daily and reinvested monthly
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DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND, INC.
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STATEMENT OF INVESTMENTS SEPTEMBER 30, 1998
Principal
Tax Exempt Investments--96.8% Amount Value
- -------------------------------------------------------
____________ _____________
<S> <C> <C>
Connecticut--84.5%
Town of Berlin, BAN 3.90%, 6/18/99 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,170,000 $ 4,177,714
State of Connecticut:
GO Notes:
4.5%, Series B, 10/1/98 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,075,000 2,075,000
4%, Series B, 3/15/99 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,000,000 4,009,135
Special Tax Obligation Revenue, VRDN (Transportation Infrastructure-1)
3.55%, (LOC; Commerzbank) (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,700,000 20,700,000
VRDN 3.90%, (Liquidity; Bayerische Landesbank) (a) . . . . . . . . . . . . . . . . . . 7,200,000 7,200,000
Connecticut Development Authority, VRDN:
Health Care Revenue (Corp. for Independent Living Project)
3.25%, (LOC; Chase Manhattan Bank) (a) . . . . . . . . . . . . . . . . . . . . . . 8,850,000 8,850,000
IDR (Blase and Bromley Realty Project) 3.90%, (LOC; Fleet Bank) (a) . . . . . . . . . . 2,880,000 2,880,000
PCR (Connecticut Light and Power Co. Project)
3.90%, Series A (Insured; AMBAC and Liquidity; Societe General) (a) . . . . . . . . 8,000,000 8,000,000
Revenue (Solid Waste Project-Rand/Whitney)
3.30%, (LOC; Chase Manhattan Bank) (a) . . . . . . . . . . . . . . . . . . . . . . 2,000,000 2,000,000
Connecticut Health and Educational Facilities Authority, Revenue:
CP (Yale University):
3.35%, 11/10/98 (LOC; Yale University) . . . . . . . . . . . . . . . . . . . . . . 3,600,000 3,600,000
3.20%, 12/16/98 (LOC; Yale University) . . . . . . . . . . . . . . . . . . . . . . 4,000,000 4,000,000
3.40%, 1/22/99 (LOC; Yale University) . . . . . . . . . . . . . . . . . . . . . . . 2,435,000 2,435,000
3.30%, 2/17/99 (LOC; Yale University) . . . . . . . . . . . . . . . . . . . . . . . 6,000,000 6,000,000
VRDN:
(Charlotte Hungerford Hospital) 2.90%, Series C (LOC; Bank of Boston) (a) . . . . . 1,700,000 1,700,000
Refunding (Bradley Healthcare) 3.20%, Series B (LOC; Fleet Bank) (a) . . . . . . . 4,730,000 4,730,000
(Yale University) 3.85%, Series T (LOC; Yale University) (a) . . . . . . . . . . . 8,500,000 8,500,000
Connecticut Housing Finance Authority, VRDN (Housing Mortgage Finance Program):
3.80%, Series G (BPA; Morgan Guaranty Trust Co. and Insured; AMBAC) (a) . . . . . . . . 8,565,000 8,565,000
3.73%, Subseries D-3 (BPA; Landesbank Hessen-Thueringen and Insured; AMBAC) (a) . . . . 9,000,000 9,000,000
Connecticut Special Assessment Second Injury Fund, Revenue, CP:
3.40%, 11/13/98 (LOC: Credit Agricole-Indosuez and Credit Commercial de Belgique) . . . 5,000,000 5,000,000
3.40%, 11/24/98 (LOC: Credit Agricole-Indosuez and Credit Commercial de Belgique) . . . 3,000,000 3,000,000
Connecticut Special Assessment Unemployment Compensation Advance Fund, Revenue
(Connecticut Unemployment)
3.60%, Series C, 7/1/99 (Insured and Liquidity; FGIC) . . . . . . . . . . . . . . . . . 12,000,000 12,000,000
Town of Fairfield, BAN 3.75%, 11/19/98 . . . . . . . . . . . . . . . . . . . . . . . . . . 3,230,000 3,230,670
Town of New Britain, BAN 3.70%, 4/13/99. . . . . . . . . . . . . . . . . . . . . . . . . . 4,500,000 4,502,302
Town of Redding, BAN 4.10%, 10/22/98 . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000 2,000,443
City of Stamford, BAN 3.90%, 5/17/99 . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,000,000 3,007,203
Stamford Housing Authority, Revenue, VRDN (Morgan Street Project)
3.65%, (LOC; Deutsche Bank) (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,500,000 7,500,000
City of Stratford, BAN 4%, 6/16/99 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000,000 6,016,376
DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND, INC.
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STATEMENT OF INVESTMENTS (CONTINUED) SEPTEMBER 30, 1998
Principal
Tax Exempt Investments (continued) Amount Value
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____________ _____________
U.S Related-12.3%
Commonwealth of Puerto Rico Government Development Bank, CP:
3.25%, 10/22/98 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,000,000 $ 3,000,000
3.15%, 12/10/98 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000,000 5,000,000
Commonwealth of Puerto Rico Highway and Transportation Authority,
Transportation Revenue, VRDN
3.10%, Series A (BPA; Bank of Nova Scotia and Insured; AMBAC) (a) . . . . . . . . . . . 7,300,000 7,300,000
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control
Facilities Financing Authority, Higher Education Revenue, VRDN
(Ana G. Mendez University Systems Project)
3.55%, Series A (LOC; Banco Popular de Puerto Rico) (a) . . . . . . . . . . . . . . . 7,200,000 7,200,000
______________
TOTAL INVESTMENTS (cost $177,178,843). . . . . . . . . . . . . . . . . . . . . . . . . . . 96.8% $177,178,843
======= ==============
CASH AND RECEIVABLES (NET) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.2% $ 5,899,508
======= ==============
NET ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0% $183,078,351
======= ==============
Summary of Abbreviations
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AMBAC American Municipal Bond Assurance Corporation GO General Obligation
BAN Bond Anticipation Notes IDR Industrial Development Revenue
BPA Bond Purchase Agreement LOC Letter of Credit
CP Commercial Paper PCR Pollution Control Revenue
FGIC Financial Guaranty Insurance Company VRDN Variable Rate Demand Notes
Summary of Combined Ratings (Unaudited)
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Moody's or Standard & Poor's Percentage of Value
________ _________________ ___________________
VMIG1/MIG1,P1 SP1+/SP1, A1+/A1, A2 79.1%
Not Rated (b) Not Rated (b) 20.9
_______
100.0%
=======
Notes to Statement of Investments:
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(a) Securities payable on demand. Variable interest rate--subject to periodic
change.
(b) Securities which, while not rated by Moody's and Standard & Poor's have
been determined by the Manager to be of comparable quality to those
rated securities in which the Fund may invest.
SEE NOTES TO FINANCIAL STATEMENTS.
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DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND, INC.
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STATEMENT OF ASSETS AND LIABILITIES SEPTEMBER 30, 1998
Cost Value
_____________ ______________
<S> <C> <C>
ASSETS: Investments in securities--See Statement of Investments . . $177,178,843 $177,178,843
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . 5,053,460
Interest receivable . . . . . . . . . . . . . . . . . . . 962,028
Prepaid expenses . . . . . . . . . . . . . . . . . . . . 17,265
______________
183,211,596
______________
LIABILITIES: Due to The Dreyfus Corporation and affiliates . . . . . . 74,526
Accrued expenses . . . . . . . . . . . . . . . . . . . . 58,719
______________
133,245
______________
NET ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $183,078,351
==============
REPRESENTED BY: Paid-in capital . . . . . . . . . . . . . . . . . . . . . $183,112,782
Accumulated net realized gain (loss) on investments . . . (34,431)
______________
NET ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $183,078,351
==============
SHARES OUTSTANDING
(1 BILLION SHARES OF $.001 PAR VALUE COMMON STOCK AUTHORIZED). . . . . . . . . . . . . . . $183,112,782
NET ASSET VALUE, offering and redemption price per share . . . . . . . . . . . . . . . . . $1.00
======
SEE NOTES TO FINANCIAL STATEMENTS.
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<TABLE>
DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND, INC.
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STATEMENT OF OPERATIONS YEAR ENDED SEPTEMBER 30, 1998
INVESTMENT INCOME
<S> <C> <C>
INCOME Interest Income . . . . . . . . . . . . . . . . . $6,697,555
EXPENSES: Management fee--Note 2(a) . . . . . . . . . . . . $ 956,113
Legal fees . . . . . . . . . . . . . . . . . . . 291,635
Shareholder servicing costs--Note 2(b) . . . . . 291,014
Auditing fees . . . . . . . . . . . . . . . . . . 29,057
Custodian fees . . . . . . . . . . . . . . . . . 17,579
Registration fees . . . . . . . . . . . . . . . . 15,412
Prospectus and shareholders' reports . . . . . . 14,767
Directors' fees and expenses--Note 2(c) . . . . . 8,519
Miscellaneous . . . . . . . . . . . . . . . . . . 2,506
____________
Total Expenses . . . . . . . . . . . . . . 1,626,602
Less--reduction in management fee due to
undertaking--Note 2(a) . . . . . . . . . . . . (382,560)
____________
Net Expenses . . . . . . . . . . . . . . . 1,244,042
____________
INVESTMENT INCOME--NET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,453,513
NET REALIZED GAIN (LOSS) ON INVESTMENTS--Note 1(b) . . . . . . . . . . . . . . . . (573)
____________
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS . . . . . . . . . . . . . . . $5,452,940
============
SEE NOTES TO FINANCIAL STATEMENTS.
</TABLE>
<TABLE>
DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND, INC.
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STATEMENT OF CHANGES IN NET ASSETS
Year Ended Year Ended
September 30, 1998 September 30, 1997
__________________ ___________________
<S> <C> <C>
OPERATIONS:
Investment income--net . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,453,513 $ 5,449,449
Net realized gain (loss) on investments . . . . . . . . . . . . . . . . . . . (573) 44,698
______________ ______________
Net Increase (Decrease) in Net Assets Resulting from Operations . . . . . 5,452,940 5,494,147
______________ ______________
DIVIDENDS TO SHAREHOLDERS FROM:
Investment income--net . . . . . . . . . . . . . . . . . . . . . . . . . . . (5,453,513) (5,449,449)
______________ ______________
CAPITAL STOCK TRANSACTIONS ($1.00 per share):
Net proceeds from shares sold . . . . . . . . . . . . . . . . . . . . . . . . 316,997,029 237,558,939
Dividends reinvested . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,209,218 5,206,544
Cost of shares redeemed . . . . . . . . . . . . . . . . . . . . . . . . . . . (321,057,785) (250,907,105)
______________ ______________
Increase (Decrease) in Net Assets from Capital Stock Transactions . . . . 1,148,462 (8,141,622)
______________ ______________
Total Increase (Decrease) in Net Assets . . . . . . . . . . . . . . . 1,147,889 (8,096,924)
NET ASSETS:
Beginning of Period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181,930,462 190,027,386
______________ ______________
End of Period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $183,078,351 $181,930,462
============== ==============
SEE NOTES TO FINANCIAL STATEMENTS.
</TABLE>
<TABLE>
DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND, INC.
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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 period indicated. This information has been
derived from the Fund's financial statements.
Year Ended September 30,
___________________________________________________________
PER SHARE DATA: 1998 1997 1996 1995 1994
______ ______ ______ ______ ______
<S> <C> <C> <C> <C> <C>
Net asset value, beginning of period . . . . . . . . . . $1.00 $1.00 $1.00 $1.00 $1.00
______ ______ ______ ______ ______
Investment Operations:
Investment income--net . . . . . . . . . . . . . . . . . .029 .029 .029 .033 .023
______ ______ ______ ______ ______
Distributions:
Dividends from investment income--net . . . . . . . . . . (.029) (.029) (.029) (.033) (.023)
______ ______ ______ ______ ______
Net asset value, end of period . . . . . . . . . . . . . $1.00 $1.00 $1.00 $1.00 $1.00
====== ====== ====== ====== ======
TOTAL INVESTMENT RETURN. . . . . . . . . . . . . . . . . . . 2.89% 2.93% 2.94% 3.35% 2.33%
RATIOS/SUPPLEMENTAL DATA:
Ratio of expenses to average net assets . . . . . . . . . .65% .65% .63% .45% .22%
Ratio of net investment income
to average net assets . . . . . . . . . . . . . . . . 2.85% 2.89% 2.90% 3.31% 2.30%
Decrease reflected in above expense ratios
due to undertakings by the Manager . . . . . . . . . .20% .04% .03% .18% .42%
Net Assets, end of period (000's Omitted) . . . . . . . . $183,078 $181,930 $190,027 $232,932 $242,067
SEE NOTES TO FINANCIAL STATEMENTS.
</TABLE>
DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND, INC.
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NOTES TO FINANCIAL STATEMENTS
NOTE 1--SIGNIFICANT ACCOUNTING POLICIES:
Dreyfus Connecticut Municipal Money Market Fund, Inc. (the "Fund" ) is
registered under the Investment Company Act of 1940, as amended (the "Act") as a
non-diversified open-end management investment company. The Fund's investment
objective is to provide investors with as high a level of current income exempt
from Federal and State of Connecticut income taxes as is consistent with the
preservation of capital and the maintenance of liquidity. The Dreyfus
Corporation (the "Manager") serves as the Fund's investment adviser. The Manager
is a direct subsidiary of Mellon Bank, N.A. Premier Mutual Fund Services, Inc.
is the distributor of the Fund's shares, which are sold to the public without a
sales charge.
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 per share of
$1.00.
The Fund' s financial statements are prepared in accordance with generally
accepted accounting principles which may require the use of management estimates
and assumptions. Actual results could differ from those estimates.
(A) PORTFOLIO VALUATION: Investments in securities 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. Cost of investments
represents amortized cost. Under the terms of the custodian agreement, the Fund
received net earnings credits of $8,235 during the period ended September 30,
1998 based on available cash balances left on deposit. Income earned under this
arrangement is included in interest income.
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 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 of 1986, as
amended (the "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 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 approximately $34,000
available for Federal income tax purposes to be applied against future net
securities profits, if any, realized subsequent to September 30, 1998. The
carryover does not include net realized securities losses from November 1, 1997
through September 30, 1998 which are treated, for Federal income tax purposes,
as arising in fiscal 1999. If not applied, the carryover expires in fiscal 2004
At September 30, 1998, 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).
DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND, INC.
- -----------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
NOTE 2--MANAGEMENT FEE AND OTHER TRANSACTIONS WITH AFFILIATES:
(A) Pursuant to a management agreement with the Manager, the management fee is
computed at the annual rate of .50 of 1% of the value of the Fund's average
daily net assets and is payable monthly. The Manager had undertaken from October
1, 1997 through September 30, 1998, to reduce the management fee paid by the
Fund, to the extent that the Fund's aggregate annual expenses, exclusive of
taxes, brokerage, interest on borrowings and extraordinary expenses, exceeded an
annual rate of .65 of 1% of the value of the Fund's average daily net assets.
The reduction in management fee, pursuant to the undertaking, amounted to
$382,560 during the period ended September 30, 1998.
(B) Under the Shareholder Services Plan, the Fund reimburses Dreyfus Service
Corporation, a wholly-owned subsidiary of the Manager, an amount not to exceed
an annual rate of .25 of 1% of the value of the Fund's average daily net assets
for certain allocated expenses of providing personal services and/or maintaining
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 period ended
September 30, 1998, the Fund was charged $194,596 pursuant to the Shareholder
Services Plan.
The Fund compensates Dreyfus Transfer, Inc., a wholly-owned subsidiary of the
Manager, under a transfer agency agreement for providing personnel and
facilities to perform transfer agency services for the Fund. During the period
ended September 30, 1998, the Fund was charged $58,871, pursuant to the transfer
agency agreement.
(C) Each director who is not an "affiliated person" as defined in the Act
receives from the Fund an annual fee of $1,000. The Chairman of the Board
receives an additional 25% of such compensation.
DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND, INC.
- -----------------------------------------------------------------------------
REPORT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
SHAREHOLDERS AND BOARD OF DIRECTORS
DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND, INC.
We have audited the accompanying statement of assets and liabilities of
Dreyfus Connecticut Municipal Money Market Fund, Inc., including the statement
of investments, as of September 30, 1998, 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 and financial highlights. Our procedures included confirmation of
securities owned as of September 30, 1998 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 Connecticut Municipal Money Market Fund, Inc. at September 30, 1998, 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.
New York, New York
November 6, 1998
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 September
30, 1998 as "exempt-interest dividends" (not subject to regular Federal and, for
individuals who are Connecticut residents, Connecticut personal income taxes).
[dreyfus lion "d" logo] (reg.tm)
[dreyfus logo] (reg.tm)
DREYFUS CONNECTICUT 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
Dreyfus Transfer, Inc.
P.O. Box 9671
Providence, RI 02940
Printed in U.S.A. 101AR989
Connecticut
Municipal Money
Market Fund
Annual Report
September 30, 1998
