<PAGE> PAGE 1
000 B000000 12/31/95
000 C000000 0000932100
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 PRAIRIE INSTITUTIONAL FUNDS
001 B000000 811-7235
001 C000000 6144708000
002 A000000 3435 STELZER ROAD
002 B000000 COLUMBUS
002 C000000 OH
002 D010000 43219
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 CASH MANAGEMENT FUND
007 C030100 N
007 C010200 2
007 C020200 U.S. GOVERNMENT SECURITIES CASH MANAGEMENT FD
007 C030200 N
007 C010300 3
007 C020300 TREASURY PRIME CASH MANAGEMENT FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 FIRST CHICAGO INVESTMENT MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-47947
008 D01AA01 CHICAGO
008 D02AA01 IL
008 D03AA01 60670
010 A00AA01 FIRST CHICAGO INVESTMENT MANAGEMENT COMPANY
010 B00AA01 801-47947
010 C01AA01 CHICAGO
010 C02AA01 IL
010 C03AA01 60670
011 A00AA01 CONCORD FINANCIAL GROUP, INC.
011 B00AA01 8-37601
<PAGE> PAGE 2
011 C01AA01 COLUMBUS
011 C02AA01 OH
011 C03AA01 43219
012 A00AA01 PRIMARY FUND SERVICES CORP.
012 B00AA01 84-74528
012 C01AA01 FRANKLIN
012 C02AA01 MA
012 C03AA01 02038
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
014 A00AA01 CONCORD FINANCIAL GROUP, INC.
014 B00AA01 8-37601
015 A00AA01 THE BANK OF NEW YORK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10286
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 4
019 C00AA00 PRAIRIEINS
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 USA
022 C000001 12040000
022 D000001 0
022 A000002 FUJI BANK & TRUST CO.
022 C000002 8235100
022 D000002 498
022 A000003 BARCLAYS DE ZOETE WEDD SECURITIES, INC.
022 C000003 6495300
022 D000003 0
022 A000004 SANWA BANK LIMITED
022 C000004 1904945
022 D000004 0
022 A000005 GOLDMAN SACHS & CO
022 C000005 1123505
022 D000005 15749
022 A000006 MORGAN STANLEY & CO., INC.
<PAGE> PAGE 3
022 C000006 653497
022 D000006 104054
022 A000007 LEHMAN BROTHERS HOLDINGS, INC.
022 C000007 509105
022 D000007 5000
022 A000008 HSBC SECURITIES, INC.
022 C000008 364243
022 D000008 86060
022 A000009 FIRST CHICAGO CORP.
022 C000009 409418
022 D000009 0
022 A000010 C.S. FIRST BOSTON CORP.
022 C000010 273452
022 D000010 0
023 C000000 32992290
023 D000000 288280
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 Y
041 00AA00 Y
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.200
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
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
<PAGE> PAGE 4
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
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000000
077 A000000 Y
077 B000000 Y
077 C000000 Y
078 000000 N
080 A00AA00 VIGILANT INSURANCE COMPANY
080 C00AA00 6000
081 A00AA00 Y
081 B00AA00 3
082 A00AA00 Y
082 B00AA00 25
083 A00AA00 N
083 B00AA00 0
<PAGE> PAGE 5
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
024 000100 Y
025 A000101 MORGAN STANLEY GROUP, INC.
025 C000101 D
025 D000101 17994
025 A000102 GOLDMAN SACHS & CO.
025 C000102 D
025 D000102 17745
025 A000103 BARCLAYS
025 C000103 D
025 D000103 19943
025 A000104 FUJI BANK
025 C000104 D
025 D000104 10992
025 A000105 NATIONAL WESTMINSTER BANK
025 C000105 D
025 D000105 15000
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 169770
028 A020100 141
028 A030100 0
028 A040100 139861
028 B010100 268786
028 B020100 133
028 B030100 0
028 B040100 251368
028 C010100 242163
028 C020100 132
028 C030100 0
028 C040100 176658
028 D010100 189552
028 D020100 148
028 D030100 0
028 D040100 756219
028 E010100 161971
028 E020100 175
028 E030100 0
028 E040100 130390
028 F010100 225499
028 F020100 397
028 F030100 0
028 F040100 191963
028 G010100 1257741
028 G020100 1126
028 G030100 0
028 G040100 1646459
<PAGE> PAGE 6
028 H000100 0
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 74
044 000100 0
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 13.5
062 E000100 0.0
062 F000100 35.0
062 G000100 0.0
062 H000100 5.1
062 I000100 46.6
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 31
063 B000100 0.0
064 A000100 N
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
<PAGE> PAGE 7
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 N
070 P020100 N
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 6
072 B000100 12568
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 429
072 G000100 322
072 H000100 0
072 I000100 10
072 J000100 69
072 K000100 0
072 L000100 12
072 M000100 7
072 N000100 19
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 33
072 S000100 0
072 T000100 74
072 U000100 13
072 V000100 0
072 W000100 14
072 X000100 1002
<PAGE> PAGE 8
072 Y000100 178
072 Z000100 11744
072AA000100 0
072BB000100 0
072CC010100 0
072CC020100 4
072DD010100 10179
072DD020100 1565
072EE000100 0
073 A010100 0.0277
073 A020100 0.0264
073 B000100 0.0000
073 C000100 0.0000
074 A000100 109
074 B000100 68800
074 C000100 442870
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 1185
074 M000100 163
074 N000100 513127
074 O000100 0
074 P000100 215
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 2035
074 S000100 0
074 T000100 510877
074 U010100 389281
074 U020100 121798
074 V010100 1.00
074 V020100 1.00
074 W000100 0.9997
074 X000100 12
074 Y000100 0
075 A000100 425418
075 B000100 0
076 000100 0.00
024 000200 N
025 D000201 0
025 D000202 0
025 D000203 0
025 D000204 0
<PAGE> PAGE 9
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 202200
028 A020200 151
028 A030200 0
028 A040200 202390
028 B010200 397015
028 B020200 121
028 B030200 0
028 B040200 357818
028 C010200 346921
028 C020200 100
028 C030200 0
028 C040200 422738
028 D010200 242130
028 D020200 99
028 D030200 0
028 D040200 293949
028 E010200 227943
028 E020200 91
028 E030200 0
028 E040200 239932
028 F010200 461683
028 F020200 223
028 F030200 0
028 F040200 346719
028 G010200 1877892
028 G020200 785
028 G030200 0
028 G040200 1863546
028 H000200 0
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 56
044 000200 0
062 A000200 Y
062 B000200 0.0
062 C000200 79.6
062 D000200 21.5
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
<PAGE> PAGE 10
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 26
063 B000200 0.0
064 A000200 N
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
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 Y
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
<PAGE> PAGE 11
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 7
072 B000200 17276
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 645
072 G000200 446
072 H000200 0
072 I000200 12
072 J000200 81
072 K000200 0
072 L000200 13
072 M000200 7
072 N000200 4
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 23
072 S000200 0
072 T000200 56
072 U000200 14
072 V000200 0
072 W000200 21
072 X000200 1322
072 Y000200 224
072 Z000200 16178
072AA000200 0
072BB000200 0
072CC010200 5
072CC020200 0
072DD010200 15015
072DD020200 1163
072EE000200 0
073 A010200 0.0320
073 A020200 0.0305
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 117200
074 C000200 434070
074 D000200 0
074 E000200 0
074 F000200 0
<PAGE> PAGE 12
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 26
074 M000200 158
074 N000200 551453
074 O000200 0
074 P000200 303
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 5756
074 S000200 0
074 T000200 545394
074 U010200 489865
074 U020200 56057
074 V010200 1.00
074 V020200 1.00
074 W000200 0.9992
074 X000200 8
074 Y000200 0
075 A000200 507075
075 B000200 0
076 000200 0.00
024 000300 N
025 D000301 0
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 5630
028 A020300 43
028 A030300 0
028 A040300 12870
028 B010300 34686
028 B020300 37
028 B030300 0
028 B040300 33270
028 C010300 44671
028 C020300 33
028 C030300 0
028 C040300 35099
028 D010300 73590
028 D020300 33
028 D030300 0
<PAGE> PAGE 13
028 D040300 24277
028 E010300 37704
028 E020300 33
028 E030300 0
028 E040300 39683
028 F010300 104474
028 F020300 48
028 F030300 0
028 F040300 27421
028 G010300 300755
028 G020300 227
028 G030300 0
028 G040300 172620
028 H000300 0
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 39
044 000300 0
062 A000300 Y
062 B000300 100.7
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 36
063 B000300 0.0
064 A000300 N
064 B000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
<PAGE> PAGE 14
070 A010300 N
070 A020300 N
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 N
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 0
071 B000300 0
071 C000300 0
071 D000300 0
072 A000300 10
072 B000300 1364
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 50
072 G000300 38
072 H000300 0
072 I000300 13
072 J000300 42
072 K000300 0
<PAGE> PAGE 15
072 L000300 19
072 M000300 1
072 N000300 4
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 19
072 S000300 0
072 T000300 39
072 U000300 12
072 V000300 0
072 W000300 2
072 X000300 239
072 Y000300 107
072 Z000300 1232
072AA000300 0
072BB000300 0
072CC010300 0
072CC020300 2
072DD010300 498
072DD020300 734
072EE000300 0
073 A010300 0.0399
073 A020300 0.0380
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 145516
074 D000300 0
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 0
074 M000300 99
074 N000300 145615
074 O000300 0
074 P000300 58
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 989
074 S000300 0
074 T000300 144568
074 U010300 14009
074 U020300 130561
<PAGE> PAGE 16
074 V010300 1.00
074 V020300 1.00
074 W000300 1.0005
074 X000300 6
074 Y000300 0
075 A000300 32277
075 B000300 0
076 000300 0.00
SIGNATURE WENDY SWONGER
TITLE FIN RPTING SUPER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000932100
<NAME> PRAIRIE INSTITUTIONAL FUNDS
<SERIES>
<NUMBER> 1
<NAME> CASH MANAGEMENT FUND INSTITUTIONAL SHARES
<S> <C>
<PERIOD-TYPE> 6MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JUL-01-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 511669669
<INVESTMENTS-AT-VALUE> 511669669
<RECEIVABLES> 1185264
<ASSETS-OTHER> 272338
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 513127271
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2250415
<TOTAL-LIABILITIES> 2250415
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 511078723
<SHARES-COMMON-STOCK> 545919032
<SHARES-COMMON-PRIOR> 330783145
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 201867
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 510876856
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 12568427
<OTHER-INCOME> 0
<EXPENSES-NET> 824457
<NET-INVESTMENT-INCOME> 11743970
<REALIZED-GAINS-CURRENT> (4009)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 11739961
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 11743970
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1257882248
<NUMBER-OF-SHARES-REDEEMED> 1078713778
<SHARES-REINVESTED> 1127108
<NET-CHANGE-IN-ASSETS> 180295578
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 197858
<GROSS-ADVISORY-FEES> 428914
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1001977
<AVERAGE-NET-ASSETS> 425417781
<PER-SHARE-NAV-BEGIN> 0.999
<PER-SHARE-NII> 0.028
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.028
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.35
<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
<CIK> 0000932100
<NAME> PRAIRIE INSTITUTIONAL FUNDS
<SERIES>
<NUMBER> 1.1
<NAME> CASH MANAGEMENT FUND SERVICE SHARES
<S> <C>
<PERIOD-TYPE> 6MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JUL-01-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 511669669
<INVESTMENTS-AT-VALUE> 511669669
<RECEIVABLES> 1185264
<ASSETS-OTHER> 272338
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 513127271
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2250415
<TOTAL-LIABILITIES> 2250415
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 511078723
<SHARES-COMMON-STOCK> 545919032
<SHARES-COMMON-PRIOR> 330783145
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 201867
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 510876856
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 12568427
<OTHER-INCOME> 0
<EXPENSES-NET> 824457
<NET-INVESTMENT-INCOME> 11743970
<REALIZED-GAINS-CURRENT> (4009)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 11739961
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 11743970
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1257882248
<NUMBER-OF-SHARES-REDEEMED> 1078713778
<SHARES-REINVESTED> 1127108
<NET-CHANGE-IN-ASSETS> 180295578
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 197858
<GROSS-ADVISORY-FEES> 428914
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1001977
<AVERAGE-NET-ASSETS> 425417781
<PER-SHARE-NAV-BEGIN> 0.999
<PER-SHARE-NII> 0.026
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.026
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.60
<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
<CIK> 0000932100
<NAME> PRAIRIE INSTITUTIONAL FUNDS
<SERIES>
<NUMBER> 2
<NAME> U.S. GOVERNMENT SECURITIES CASH MANAGEMENT FUND INSTITUTIONAL SHARES
<S> <C>
<PERIOD-TYPE> 7MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JUN-01-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 551269546
<INVESTMENTS-AT-VALUE> 551269546
<RECEIVABLES> 25567
<ASSETS-OTHER> 158061
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 551453174
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6058728
<TOTAL-LIABILITIES> 6058728
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 545919031
<SHARES-COMMON-STOCK> 545919032
<SHARES-COMMON-PRIOR> 492479103
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 524585
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 545394446
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 17275666
<OTHER-INCOME> 0
<EXPENSES-NET> 1097664
<NET-INVESTMENT-INCOME> 16178002
<REALIZED-GAINS-CURRENT> 4517
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 16182519
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 16178002
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2081961762
<NUMBER-OF-SHARES-REDEEMED> 2029432628
<SHARES-REINVESTED> 910794
<NET-CHANGE-IN-ASSETS> 53444445
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 529102
<GROSS-ADVISORY-FEES> 645155
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1322257
<AVERAGE-NET-ASSETS> 507075325
<PER-SHARE-NAV-BEGIN> 0.999
<PER-SHARE-NII> 0.032
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.032
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 0.999
<EXPENSE-RATIO> 0.35
<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
<CIK> 0000932100
<NAME> PRAIRIE INSTITUTIONAL FUNDS
<SERIES>
<NUMBER> 2.1
<NAME> U.S. GOVERNMENT SECURITIES CASH MANAGEMENT FUND SERVICE SHARES
<S> <C>
<PERIOD-TYPE> 7MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JUN-01-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 551269546
<INVESTMENTS-AT-VALUE> 551269546
<RECEIVABLES> 25567
<ASSETS-OTHER> 158061
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 551453174
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6058728
<TOTAL-LIABILITIES> 6058728
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 545919031
<SHARES-COMMON-STOCK> 545919032
<SHARES-COMMON-PRIOR> 492479103
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 524585
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 545394446
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 17275666
<OTHER-INCOME> 0
<EXPENSES-NET> 1097664
<NET-INVESTMENT-INCOME> 16178002
<REALIZED-GAINS-CURRENT> 4517
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 16182519
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 16178002
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2081961762
<NUMBER-OF-SHARES-REDEEMED> 2029432628
<SHARES-REINVESTED> 910794
<NET-CHANGE-IN-ASSETS> 53444445
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 529102
<GROSS-ADVISORY-FEES> 645155
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1322257
<AVERAGE-NET-ASSETS> 507075325
<PER-SHARE-NAV-BEGIN> 0.999
<PER-SHARE-NII> 0.031
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.031
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 0.999
<EXPENSE-RATIO> 0.60
<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
<CIK> 0000932100
<NAME> PRAIRIE INSTITUTIONAL FUNDS
<SERIES>
<NUMBER> 3
<NAME> TREASURY PRIME CASH MANAGEMENT FUND INSTITUTIONAL SHARES
<S> <C>
<PERIOD-TYPE> 9MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> MAR-22-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 145516229
<INVESTMENTS-AT-VALUE> 145516229
<RECEIVABLES> 0
<ASSETS-OTHER> 98846
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 145615075
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1047496
<TOTAL-LIABILITIES> 1047496
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 144569579
<SHARES-COMMON-STOCK> 144569579
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 2000
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 144567579
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1364594
<OTHER-INCOME> 0
<EXPENSES-NET> 132340
<NET-INVESTMENT-INCOME> 1232254
<REALIZED-GAINS-CURRENT> (2000)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1230254
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1232254
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 391476763
<NUMBER-OF-SHARES-REDEEMED> 247339435
<SHARES-REINVESTED> 432251
<NET-CHANGE-IN-ASSETS> 144567579
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 50405
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 239363
<AVERAGE-NET-ASSETS> 32277468
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.040
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.040
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.35
<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
<CIK> 0000932100
<NAME> PRAIRIE INSTITUTIONAL FUNDS
<SERIES>
<NUMBER> 3.1
<NAME> TREASURY PRIME CASH MANAGEMENT FUND SERVICE SHARES
<S> <C>
<PERIOD-TYPE> 9MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> MAR-22-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 145516229
<INVESTMENTS-AT-VALUE> 145516229
<RECEIVABLES> 0
<ASSETS-OTHER> 98846
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 145615075
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1047496
<TOTAL-LIABILITIES> 1047496
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 144569579
<SHARES-COMMON-STOCK> 144569579
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 2000
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 144567579
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1364594
<OTHER-INCOME> 0
<EXPENSES-NET> 132340
<NET-INVESTMENT-INCOME> 1232254
<REALIZED-GAINS-CURRENT> (2000)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1230254
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1232254
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 391476763
<NUMBER-OF-SHARES-REDEEMED> 247339435
<SHARES-REINVESTED> 432251
<NET-CHANGE-IN-ASSETS> 144567579
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 50405
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 239363
<AVERAGE-NET-ASSETS> 32277468
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.038
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.038
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
[logo] ERNST & YOUNG LLP 787 Seventh Avenue Phone 212 773 3000
New York, New York 10019
Board of Trustees
Prairie Institutional Funds
In planning and performing our audit of the financial statements of Prairie
Institutional Funds (comprising, respectively, the U.S. Government Securities
Cash Management, Treasury Prime Cash Management and Cash Management Funds),
for the period ended December 31, 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 Prairie Institutional Funds 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 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 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 and
the Securities and Exchange Commission.
/s/ Ernst & Young LLP
ERNST & YOUNG LLP
February 22, 1996
JOINT SPECIAL MEETING OF STOCKHOLDERS, NOVEMBER 28, 1995
A Special Meeting of the stockholders of the Prairie Funds, Prairie
Institutional Funds, Prairie Intermediate Bond Fund and Prairie Municipal Bond
Fund, Inc. was held on November 28, 1995 at 3435 Stelzer Road, Columbus Ohio,
pursuant to notice given to all stockholders of record on September 15, 1995.
The first item was the approval of a new Investment Management
agreement between the Funds and First Chicago Investment Management Company.
Such approval was necessary because of the merger agreement between First
Chicago Corporation and NBD Bancorp, Inc.
PRAIRIE FUNDS
(a) Managed Assets Income Fund:
3,484,255 of the total shares outstanding voted in favor of
approval,
29,569 voted against and 48,108 abstained.
(b) Managed Assets Fund:
338,203 of the total shares outstanding voted in favor of
approval,
0 voted against and 1,984 abstained.
(c) Equity Income Fund:
20,277,924 of the total shares outstanding voted in favor of
approval,
289,304 voted against and 1,689,065 abstained.
(d) Growth Fund:
23,688,705 of the total shares outstanding voted in favor of
approval,
159,270 voted against and 151,624 abstained.
(e) Special Opportunities Fund:
6,783,521 of the total shares outstanding voted in favor of
approval,
0 voted against and 646,622 abstained.
(f) International Equity Fund:
7,743,043 of the total shares outstanding voted in favor of
approval,
0 voted against and 3,978 abstained.
(g) Bond Fund:
9,402,335 of the total shares outstanding voted in favor of
approval,
242,037 voted against and 1,301,595 abstained.
(h) International Bond Fund:
1,063,692 of the total shares outstanding voted in favor of
approval,
0 voted against and 47,663 abstained.
(i) Intermediate Municipal Bond Fund:
30,202,480 of the total shares outstanding voted in favor of
approval,
23,546 voted against and 215,217 abstained.
(j) U.S. Government Money Market Fund:
26,654,820 of the total shares outstanding voted in favor of
approval,
473,493 voted against and 1,021,928 abstained.
(k) Money Market Fund:
88,655,004 of the total shares outstanding voted in favor of
approval,
509,609 voted against and 3,096,509 abstained.
(l) Municipal Money Market Fund:
130,175,915 of the total shares outstanding voted in favor of
approval,
939,563 voted against and 4,252,834 abstained.
PRAIRIE INSTITUTIONAL FUNDS
(a) Cash Management Fund:
272,674,617 of the total shares outstanding voted in favor of
approval,
313,088 voted against and 23,536,693 abstained.
(b) Treasury Prime Cash Management Fund:
7,658,819 of the total shares outstanding voted in favor of
approval,
0 voted against and 0 abstained.
(c) U.S. Government Securities Cash Management Fund:
268,544,652 of the total shares outstanding voted in favor
of approval,
0 voted against and 196,765 abstained.
PRAIRIE INTERMEDIATE BOND FUND
21,827,738 of the total shares outstanding voted in favor
of approval,
96,649 voted against and 519,659 abstained.
PRAIRIE MUNICIPAL BOND FUND, INC.
18,802,091 of the total shares outstanding voted in favor
of approval,
76,798 voted against and 633,190 abstained.
The second item was the approval of a new Sub-Investment Advisory
Agreement between First Chicago Investment Management Company and ANB
Investment Management and Trust Company with respect to the International
Equity Fund of Prairie Funds only. Such approval was necessary because of the
merger agreement between First Chicago Corporation and NBD Bancorp, Inc.
International Equity Fund:
7,747,021 of the total shares outstanding voted in favor
of approval,
0 voted against and 0 abstained.
