INDEPENDENT AUDITORS' REPORT
Board of Trustees and Shareholders
Cash Resource Trust
We have audited the accompanying statements of assets and liabilities, including
the schedules of investments of the Evergreen CRT California Tax-Exempt Money
Market Fund (formerly, Cash Resource California Tax-Exempt Money Market Fund),
Evergreen CRT Money Market Fund (formerly, Cash Resource Money Market Fund),
Evergreen CRT New York Tax-Exempt Money Market Fund (formerly, Cash Resource New
York Tax-Exempt Money Market Fund), Evergreen CRT Tax-Exempt Money Market Fund
(formerly, Cash Resource Tax-Exempt Money Market Fund) and Evergreen U.S.
Government Money Market Fund (formerly, Cash Resource U.S. Government Money
Market Fund), portfolios of Cash Resource Trust, as of July 31, 2000, and the
related statements of operations for the year then ended, statements of changes
in net assets for each of the years in the two-year period then ended, and the
financial highlights for each of the years or periods in the five-year period
then ended. These financial statements and financial highlights are the
responsibility of the Trust'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 auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform our 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. Our procedures included confirmation of
securities owned as of July 31, 2000 by correspondence with the custodian and
brokers. 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
Evergreen CRT California Tax-Exempt Money Market Fund, Evergreen CRT Money
Market Fund, Evergreen CRT New York Tax-Exempt Money Market Fund, Evergreen CRT
Tax-Exempt Money Market Fund and Evergreen U.S. Government Money Market Fund as
of July 31, 2000, the results of their operations, changes in their net assets
and financial highlights for each of the years or periods described above in
conformity with accounting principles generally accepted in the United States of
America.
Boston, Massachusetts
September 8, 2000
