<PAGE> PAGE 1
000 B000000 06/30/95
000 C000000 0000932100
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 PRAIRIE INSTITUTIONAL FUNDS
001 B000000 811-7235
001 C000000 2124921609
002 A000000 125 WEST 55TH STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10019
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 CASH MANAGEMENT FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
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 NATIONAL WESTMINSTER BANK
022 B000001 22-1019783
022 C000001 3700200
022 D000001 0
022 A000002 FUJI SECURITIES, INC.
022 B000002 36-2880742
<PAGE> PAGE 2
022 C000002 3241900
022 D000002 0
022 A000003 LEHMAN SECURITIES, INC.
022 B000003 13-2518466
022 C000003 1993934
022 D000003 0
022 A000004 BARCLAYS DE ZOETE WEDD
022 B000004 13-3551367
022 C000004 1313800
022 D000004 0
022 A000005 SANWA BANK LIMITED
022 B000005 13-3046258
022 C000005 618575
022 D000005 0
022 A000006 MERRILL LYNCH
022 B000006 13-5674085
022 C000006 506050
022 D000006 0
022 A000007 GOLDMAN SACHS & CO.
022 B000007 13-5108880
022 C000007 239372
022 D000007 0
022 A000008 NOMURA SECURITIES
022 B000008 13-2642206
022 C000008 213000
022 D000008 0
022 A000009 CANADIAN IMPERIAL BANK
022 B000009 13-1942440
022 C000009 183815
022 D000009 0
022 A000010 MORGAN STANLEY & CO., INC.
022 B000010 13-2655998
022 C000010 53039
022 D000010 0
023 C000000 12261484
023 D000000 34990
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
<PAGE> PAGE 3
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
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A000101 FIRST CHICAGO INVESTMENT MANAGEMENT COMPANY
008 B000101 A
008 C000101 801-47947
008 D010101 CHICAGO
008 D020101 IL
008 D030101 60670
010 A000101 FIRST CHICAGO INVESTMENT MANAGEMENT COMPANY
010 B000101 801-47947
010 C010101 CHICAGO
010 C020101 IL
010 C030101 60670
011 A000101 CONCORD FINANCIAL GROUP, INC.
011 B000101 8-37601
011 C010101 NEW YORK
011 C020101 NY
011 C030101 10019
012 A000101 PRIMARY FUNDS SERVICE CORPORATION
012 B000101 84-474528
012 C010101 FRANKLIN
012 C020101 MA
012 C030101 02038
013 A000101 ERNST & YOUNG LLP
013 B010101 NEW YORK
013 B020101 NY
013 B030101 10019
015 A000101 THE BANK OF NEW YORK
015 B000101 C
<PAGE> PAGE 4
015 C010101 NEW YORK
015 C020101 NY
015 C030101 10286
015 E010101 X
018 000100 Y
019 A000100 Y
019 B000100 4
019 C000100 PRAIRIEINS
024 000100 Y
025 A000101 CS FIRST BOSTON GROUP, INC.
025 B000101 13-5659485
025 C000101 D
025 D000101 9974
025 A000102 GOLDMAN SACHS & CO.
025 B000102 13-5108880
025 C000102 D
025 D000102 9929
025 A000103 MORGAN STANLEY GROUP, INC.
025 B000103 13-2655998
025 C000103 D
025 D000103 9990
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 123399
028 A020100 0
028 A030100 0
028 A040100 115760
028 B010100 94885
028 B020100 71
028 B030100 0
028 B040100 81979
028 C010100 191146
028 C020100 119
028 C030100 0
028 C040100 159271
028 D010100 115197
028 D020100 166
028 D030100 0
028 D040100 109895
028 E010100 208781
028 E020100 126
028 E030100 0
028 E040100 176750
028 F010100 203681
028 F020100 294
028 F030100 0
028 F040100 224144
028 G010100 937089
<PAGE> PAGE 5
028 G020100 776
028 G030100 0
028 G040100 867799
028 H000100 0
029 000100 N
030 A000100 0
030 B000100 0.00
030 C000100 0.00
031 A000100 0
031 B000100 0
032 000100 0
033 000100 0
034 000100 N
035 000100 0
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 100
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 4
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.200
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
<PAGE> PAGE 6
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 Y
053 C000100 N
054 A000100 Y
054 B000100 Y
054 C000100 Y
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 Y
054 H000100 N
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 N
054 M000100 Y
054 N000100 N
054 O000100 N
055 A000100 N
055 B000100 N
056 000100 N
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 1000000
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 13.2
062 E000100 0.0
062 F000100 0.0
062 G000100 26.0
062 H000100 0.0
062 I000100 60.7
062 J000100 0.0
062 K000100 0.0
062 L000100 0.1
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
<PAGE> PAGE 7
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 18
063 B000100 0.0
064 A000100 Y
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
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 Y
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 0
071 B000100 0
071 C000100 0
<PAGE> PAGE 8
071 D000100 0
072 A000100 12
072 B000100 15729
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 793
072 G000100 212
072 H000100 0
072 I000100 18
072 J000100 69
072 K000100 0
072 L000100 13
072 M000100 4
072 N000100 55
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 27
072 S000100 36
072 T000100 4
072 U000100 13
072 V000100 0
072 W000100 45
072 X000100 1289
072 Y000100 267
072 Z000100 14707
072AA000100 0
072BB000100 1707
072CC010100 0
072CC020100 0
072DD010100 14607
072DD020100 100
072EE000100 0
073 A010100 0.0507
073 A020100 0.0245
073 B000100 0.0000
073 C000100 0.0000
074 A000100 1174
074 B000100 43600
074 C000100 286548
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 840
074 M000100 171
<PAGE> PAGE 9
074 N000100 332333
074 O000100 0
074 P000100 148
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 1600
074 S000100 0
074 T000100 330585
074 U010100 319405
074 U020100 11379
074 V010100 1.00
074 V020100 1.00
074 W000100 0.9997
074 X000100 12
074 Y000100 0
075 A000100 287899
075 B000100 0
076 000100 0.00
080 A000100 CHUBB CUSTOM INSURANCE COMPANY
080 B000100 NONE
080 C000100 6000
081 A000100 Y
081 B000100 18
082 A000100 Y
082 B000100 25
083 A000100 N
083 B000100 0
084 A000100 N
084 B000100 0
085 A000100 Y
085 B000100 N
SIGNATURE MARTIN DEAN
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the annual
report dated June 30, 1995 and is qualified in its entirety by reference to
such financial statement[s].
</LEGEND>
<CIK> 0000932100
<NAME> Prairie Institutional Cash Management Fund
<SERIES>
<NUMBER> 101
<NAME> Institutional Shares
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1995
<PERIOD-START> JUL-01-1994
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 330,147,689
<INVESTMENTS-AT-VALUE> 330,147,689
<RECEIVABLES> 839,704
<ASSETS-OTHER> 171,542
<OTHER-ITEMS-ASSETS> 1,174,119
<TOTAL-ASSETS> 332,333,054
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,747,767
<TOTAL-LIABILITIES> 1,747,767
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 319,404,564
<SHARES-COMMON-STOCK> 319,404,564
<SHARES-COMMON-PRIOR> 243,979,657
<ACCUMULATED-NII-CURRENT> 14,706,593
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (197,858)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 330,585,287
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 15,728,576
<OTHER-INCOME> 0
<EXPENSES-NET> 1,021,983
<NET-INVESTMENT-INCOME> 14,706,593
<REALIZED-GAINS-CURRENT> (1,706,625)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 12,999,968
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 14,606,645
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,491,127,430
<NUMBER-OF-SHARES-REDEEMED> 1,417,064,383
<SHARES-REINVESTED> 1,361,860
<NET-CHANGE-IN-ASSETS> 86,765,363
<ACCUMULATED-NII-PRIOR> 8,493,966
<ACCUMULATED-GAINS-PRIOR> (159,733)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 793,104
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,289,402
<AVERAGE-NET-ASSETS> 286,122,729
<PER-SHARE-NAV-BEGIN> 0.999
<PER-SHARE-NII> 0.051
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (0.051)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0.999
<EXPENSE-RATIO> 0.35
<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 annual
report dated June 30, 1995 and is qualified in its entirety by reference to
such financial statement[s].
</LEGEND>
<CIK> 0000932100
<NAME> Prairie Institutional Cash Management Fund
<SERIES>
<NUMBER> 102
<NAME> Service Shares
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1995
<PERIOD-START> JUL-01-1994
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 330,147,689
<INVESTMENTS-AT-VALUE> 330,147,689
<RECEIVABLES> 839,704
<ASSETS-OTHER> 171,542
<OTHER-ITEMS-ASSETS> 1,174,119
<TOTAL-ASSETS> 332,333,054
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,747,767
<TOTAL-LIABILITIES> 1,747,767
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11,378,581
<SHARES-COMMON-STOCK> 11,378,581
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 14,706,593
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (197,858)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 330,585,287
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 15,728,576
<OTHER-INCOME> 0
<EXPENSES-NET> 1,021,983
<NET-INVESTMENT-INCOME> 14,706,593
<REALIZED-GAINS-CURRENT> (1,706,625)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 12,999,968
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 99,948
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 48,454,575
<NUMBER-OF-SHARES-REDEEMED> 37,076,303
<SHARES-REINVESTED> 309
<NET-CHANGE-IN-ASSETS> 86,765,363
<ACCUMULATED-NII-PRIOR> 8,493,966
<ACCUMULATED-GAINS-PRIOR> (159,733)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 793,104
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,289,402
<AVERAGE-NET-ASSETS> 3,928,768
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.025
<PER-SHARE-GAIN-APPREC> (0.001)
<PER-SHARE-DIVIDEND> (0.025)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0.999
<EXPENSE-RATIO> 0.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
[LETTERHEAD OF ERNST & YOUNG LLP]
Shareholders and Board Members
Prairie Institutional Funds - Cash Management Fund
In planning and performing our audit of the financial statements of Cash
Management Fund (a portfolio of Prairie Institutional Funds) for the year ended
June 30, 1995, 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 Cash Management 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 meterial 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, 1995.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
ERNST & YOUNG LLP
August 8, 1995
