DREYFUS INSTITUTIONAL SHORT TERM TREASURY FUND
NSAR-A, 1997-05-27
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000 A000000 03/31/97
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SIGNATURE   MICHAEL S. PETRUCELLI                        
TITLE       V.P & ASST TREASURER
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000912492
<NAME> DREYFUS INSTITUTIONAL SHORT TERM TREASURY FUND
<SERIES>
   <NUMBER> 01
   <NAME> INSTITUTIONAL SHARES
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
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<INVESTMENTS-AT-VALUE>                          130265
<RECEIVABLES>                                     6041
<ASSETS-OTHER>                                      79
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<TOTAL-ASSETS>                                  136385
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        140466
<SHARES-COMMON-STOCK>                            62181
<SHARES-COMMON-PRIOR>                            85894
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<ACCUMULATED-NET-GAINS>                         (3942)
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<ACCUM-APPREC-OR-DEPREC>                         (247)
<NET-ASSETS>                                    122390
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 4824
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     180
<NET-INVESTMENT-INCOME>                           4644
<REALIZED-GAINS-CURRENT>                         (707)
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<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                             0
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<NET-CHANGE-IN-ASSETS>                         (58503)
<ACCUMULATED-NII-PRIOR>                              0
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<OVERDIST-NET-GAINS-PRIOR>                           0
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<AVERAGE-NET-ASSETS>                            142088
<PER-SHARE-NAV-BEGIN>                             1.98
<PER-SHARE-NII>                                   .060
<PER-SHARE-GAIN-APPREC>                         (.010)
<PER-SHARE-DIVIDEND>                            (.058)
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000912492
<NAME> DREYFUS INSTITUTIONAL SHORT TERM TREASURY FUND
<SERIES>
   <NUMBER> 02
   <NAME> INVESTOR SHARES
<MULTIPLIER> 1000
       
<S>                             <C>
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<PERIOD-END>                               MAR-31-1997
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<SHARES-COMMON-STOCK>                             7020
<SHARES-COMMON-PRIOR>                            12298
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         (3942)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         (247)
<NET-ASSETS>                                     13887
<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     180
<NET-INVESTMENT-INCOME>                           4644
<REALIZED-GAINS-CURRENT>                         (707)
<APPREC-INCREASE-CURRENT>                        (118)
<NET-CHANGE-FROM-OPS>                             3819
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          477
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           2316
<NUMBER-OF-SHARES-REDEEMED>                     (7806)
<SHARES-REINVESTED>                                211
<NET-CHANGE-IN-ASSETS>                         (58503)
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<ACCUMULATED-GAINS-PRIOR>                       (3236)
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<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              159
<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                             17033
<PER-SHARE-NAV-BEGIN>                             1.99
<PER-SHARE-NII>                                   .060
<PER-SHARE-GAIN-APPREC>                         (.010)
<PER-SHARE-DIVIDEND>                            (.056)
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<RETURNS-OF-CAPITAL>                                 0
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<EXPENSE-RATIO>                                   .005
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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