N-Q 1 dnq.htm DRYDEN TAX FREE MONEY DRYDEN TAX FREE MONEY

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

 

 

Investment Company Act file number:    811-02927
Exact name of registrant as specified in charter:    Dryden Tax Free Money Fund
Address of principal executive offices:    Gateway Center 3,
     100 Mulberry Street,
     Newark, New Jersey 07102
Name and address of agent for service:    Jonathan D. Shain
     Gateway Center 3,
     100 Mulberry Street,
     Newark, New Jersey 07102
Registrant’s telephone number, including area code:    973-802-6469
Date of fiscal year end:    12/31/2005
Date of reporting period:    3/31/2005


 

Item 1. Schedule of Investments [INSERT REPORT]


DrydenTax-Free Money Fund

 

Schedule of Investments as of March 31, 2005 (Unaudited)

 

Description (a)


   Moody’s
Rating


  Interest
Rate


    Maturity
Date


   Principal
Amount
(000)


   Value

SHORT-TERM INVESTMENTS 100.9%

                            

California 8.0%

                            

Calif. St., Mun. Secs. Trust Rcpts., SGA 135, G.O., A.M.B.A.C., T.C.R.S., F.R.D.D.

   A-1+(c)   2.30 %   4/01/05    $ 1,700    $ 1,700,000

California Statewide Cmntys. Dev. Auth. Rev., Ind. Dev. Dix Metals Proj., Ser. B, A.M.T, F.R.W.D.

   NR   2.55     4/06/05      500      500,000

Metropolitan Wtr. Dist. Southern Calif. Wtrwks. Rev. Adj.-Ser. B, F.R.W.D.

   VMIG1   2.23     4/07/05      1,200      1,200,000

Mun. Secs. Trust Cert., Rev., Ser. 2001-135, Class A Cert., F.G.I.C., G.O., F.R.D.D.

   A-1(c)   2.30     4/01/05      400      400,000
                          

                             3,800,000
                          

Florida 5.0%

                            

Orange Cnty. Hlth. Facs. Auth. Rev., Ser. 171, F.S.A., F.R.W.D.

   A-1(c)   2.38     4/07/05      2,350      2,350,000
                          

Georgia 12.4%

                            

Fulton Cnty. Res. Care Facs., Lenbrook Square Foundation, F.R.D.D.

   A-1(c)   2.34     4/01/05      4,350      4,350,000

Stephens Cnty. Dev. Auth. Solid Wste. Disp. Facs. Rev., Caterpillar Inc. Proj., Ser. 2000, A.M.T., F.R.W.D.

   P-1   2.48     4/07/05      1,520      1,520,000
                          

                             5,870,000
                          

Illinois 10.2%

                            

Chicago Hsg. Auth. Cap. Prog. Rev., Ser. 576, F.R.W.D.

   A-1(c)   2.38     4/07/05      2,735      2,735,000

Illinois Dev. Fin. Auth. Rev., Aurora Cent. Catholic High Sch., F.R.W.D.

   A-1(c)   2.55     4/06/05      1,000      1,000,000

Illinois Hlth. Facs. Auth. Rev., Mem. Hlth. Sys., F.R.D.D.

   VMIG1   2.34     4/01/05      800      800,000

Quad Cities Reg. Econ. Dev. Auth. Rev., Two Rivers YMCA Proj., F.R.D.D.

   A-1+(c)   2.34     4/01/05      300      300,000
                          

                             4,835,000
                          

Indiana 2.0%

                            

South Bend Econ. Dev. Rev., Dynamic REHC Proj., Ser. 1999, A.M.T., F.R.W.D.

   NR   2.45     4/06/05      925      925,000
                          

Kansas 2.8%

                            

Kansas St Dev Fin Auth Rev Hays Med. Ctr., Ser. N, F.R.D.D.

   VMIG1   2.34     4/01/05      1,310      1,310,000
                          

Maine 7.2%

                            

York Rev., Stonewall Realty LLC Proj., Ser. 1999, A.M.T., F.R.W.D.

   VMIG1   2.80     4/07/05      3,395      3,395,000
                          

Maryland 3.3%

                            

Bank of New York Mun. Cert. Trust Rev., Prince George, Ser. 2, F.R.W.D.

   VMIG1   2.50     4/07/05      1,580      1,579,500
                          

Minnesota 4.9%

                            

Minneapolis Rev., People Serving People Proj., Ser. A, F.R.D.D.

   A-1+(c)   2.34     4/01/05      230      230,000

Owatonna Hsg. Rev., Second Century Proj., Ser. A, F.R.W.D.

   MIG1   2.48     4/07/05      1,500      1,500,000


DrydenTax-Free Money Fund

 

Schedule of Investments as of March 31, 2005 (Unaudited) Cont’d.

 

Description (a)


   Moody’s
Rating


  Interest
Rate


   Maturity
Date


   Principal
Amount
(000)


   Value

St. Paul Hsg. & Redev. Auth. Rev., Minn. Pub. Radio Proj., F.R.D.D.

   VMIG1   2.34    4/01/05    600    600,000
                       
                        2,330,000
                       

Missouri 10.1%

                       

Missouri St. Hlth. & Edl. Facs. Auth. Edl. Facs. Rev.,

                       

Bethesda Hlth. Group., Ser. A, F.R.D.D.

   VMIG1   2.34    4/01/05    1,150    1,150,000

St. Louis Univ., F.R.D.D.

   VMIG1   2.34    4/01/05    2,680    2,680,000

St. Louis Univ., F.R.D.D., Ser. B.

   VMIG1   2.34    4/01/05    940    940,000
                       
                        4,770,000
                       

Montana 2.3%

                       

Butte Silver Bow Mont. Poll. Ctrl. Rev., Rhone-Poulenc Inc. Proj., Ser. 1992, F.R.W.D.

   NR   2.37    4/06/05    1,100    1,100,000
                       

Nebraska 0.5%

                       

Lancaster Cnty. Hosp. Auth. Hlth. Facs. Rev. Var. Immanuel Hlth. Sys., Ser. A, F.R.D.D.

   A-1(c)   2.31    4/01/05    250    250,000
                       

Nevada 1.3%

                       

Truckee Meadows Wtr. Auth. Wtr. Rev., Mun. Secs. Trust Rcpts., Ser. SGA137, F.S.A., F.R.D.D.

   A-1+(c)   2.30    4/01/05    600    600,000
                       

New Jersey 1.5%

                       

Mun. Secs. Trust Cert., Rev., Ser. 2001-174, Class A Cert., G.O., F.R.D.D.

   A-1(c)   2.30    4/01/05    700    700,000
                       

New York 13.9%

                       

Mun. Secs. Trust Cert. Rev., Ser. 2000-109, Class A Cert., F.R.D.D.

   VMIG1   2.30    4/01/05    2,200    2,200,000

New York City Transitional Fin. Auth. NYC Recov., Ser. 3, Subser. 3B, F.R.D.D.

   VMIG1   2.25    4/01/05    1,300    1,300,000

New York City Trust Cult. Res. Rev., Mun. Secs. Trust Rcpts., Ser. SGA-91, A.M.B.A.C., F.R.D.D.

   A-1+(c)   2.30    4/01/05    2,300    2,300,000

Ramapo Hsg. Auth. Rev., Fountainview College Rd., F.R.W.D.

   VMIG1   2.38    4/07/05    750    750,000
                       
                        6,550,000
                       

Ohio 3.0%

                       

East Lake Ind. Dev. Rev., Astro Model Dev. Corp. Prog., Ser. 1996, A.M.T., F.R.W.D.

   NR   2.45    4/07/05    1,410    1,410,000
                       

Pennsylvania 2.5%

                       

Mun. Secs. Trust Cert., Rev., Ser. 2000-110, Class A Cert., G.O., F.R.D.D.

   A-1(c)   2.27    4/01/05    1,200    1,200,000
                       

Rhode Island 2.1%

                       

Rhode Island Hlth. & Edl. Bldg. Corp. Edl. Instn. Rev. Var. St. Andrews Sch., F.R.D.D.

   A-1+(c)   2.30    4/01/05    1,000    1,000,000
                       

South Carolina 1.1%

                       

Florence Cnty. Solid Wste. Disp. & Wastewater Treatment

                       

Var. Roche Carolina Inc., Ser. 97, A.M.T., F.R.D.D.

   A-1+(c)   2.37    4/01/05    250    250,000


DrydenTax-Free Money Fund

 

Schedule of Investments as of March 31, 2005 (Unaudited) Cont’d.

 

Description (a)    


   Moody’s
Rating


  Interest
Rate


   Maturity
Date


   Principal
Amount
(000)


   Value

 

Var. Roche Carolina Inc., Ser. 98, A.M.T., F.R.D.D.

   A-1+(c)   2.37    4/01/05    250      250,000  
                       


                          500,000  
                       


Tennessee 3.2%

                           

Clarksville Pub. Bldg. Auth. Rev. Adj.-Pooled Fin., Mun. Bond Fd., F.R.D.D.

   VMIG1   2.30    4/01/05    1,500      1,500,000  

Montgomery Cnty. Pub. Bldg. Auth. Pooled Fin. Rev. Adj. Tennessee Cnty. Ln. Pool, F.R.D.D.

   VMIG1   2.30    4/01/05    15      15,000  
                       


                          1,515,000  
                       


Washington 0.8%

                           

Clark Cnty. Pub. Util. Dist. No. 001 Generating Sys. Rev., Mun. Secs. Trust Rcpts., Ser. SGA-118, F.R.D.D.

   A-1+(c)   2.30    4/01/05    400      400,000  
                       


Wisconsin 2.8%

                           

Whitewater Ind. Dev. Rev., Trek Bicycle Corp. Proj., Ser. 1995, A.M.T., F.R.W.D.

   NR   2.54    4/07/05    1,310      1,310,000  
                       


Total Investments 100.9% (cost $ 47,699,500)(d)

                        47,699,500  

Liabilities in excess of other assets (0.9)%

                        (436,928 )
                       


Net Assets 100%

                      $ 47,262,572  
                       


 

(a) The following abbreviations are used in the portfolio descriptions:

 

A.M.B.A.C. – American Municipal Bond Assurance Corporation.

 

A.M.T. – Alternative Minimum Tax.

 

F.G.I.C. – Financial Guaranty Insurance Company.

 

F.R.D.D. – Floating Rate (Daily) Demand Note(b).

 

F.R.W.D. – Floating Rate (Weekly) Demand Note(b).

 

F.S.A. – Financial Security Assurance.

 

G.O. – General Obligation.

 

T.C.R.S. – Transferable Custodial Receipts.

 

(b) For purposes of amortized cost valuation, the maturity date of these instruments is considered to be the later of the next date on which the security can be redeemed at par or the next date on which the rate of interest is adjusted.

 

(c) Standard & Poor’s Rating.

 

(d) The cost basis for federal income tax purposes is substantially the same as that used for financial statement purposes.

 

NR– Not Rated by Moody’s or Standard & Poor’s.

 

The Fund’s current Prospectus contains a description of Moody’s and Standard & Poor’s ratings.


Notes to Schedule of Investments (Unaudited)

 

Securities Valuation: Portfolio securities are valued at amortized cost, which approximates market value. The amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between the principal amount due at maturity and cost. If the amortized cost method is determined not to represent fair value, the fair value shall be determined by or under the direction of the Board of Directors.

 

Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).


 

Item 2. Controls and Procedures

 

  (a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

 

  (b) There have been no significant changes in the registrant’s internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

 

Item 3. Exhibits

 

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 – Attached hereto.


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant) Dryden Tax Free Money Fund
By (Signature and Title)*   /s/    JONATHAN D. SHAIN        
   

Jonathan D. Shain

Secretary of the Fund

 

Date     May 26, 2005

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)*   /s/    JUDY A. RICE        
   

Judy A. Rice

President and Principal Executive Officer

 

Date     May 26, 2005

 

By (Signature and Title)*   /s/    GRACE C. TORRES        
   

Grace C. Torres

Treasurer and Principal Financial Officer

 

Date     May 26, 2005

 

* Print the name and title of each signing officer under his or her signature.