UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549  FORM N-CSR  Investment Company Act file number
        811-2527
  DWS Money Funds (Exact Name of Registrant as Specified in Charter)  345 Park Avenue New York, NY 10154-0004 (Address of principal executive offices)             (Zip code)  Registrants Telephone Number, including Area Code:(212) 454-7190  Paul Schubert 345 Park Avenue New York, NY 10154-0004 (Name and Address of Agent for Service)  Date of fiscal year end:
        07/31
  Date of reporting period:
        07/31/08
   ITEM 1.REPORT TO STOCKHOLDERS   
 JULY 31, 2008
Annual Report
to ShareholdersDWS Money Market Prime Seriesmmf_cover270 Contents click herePortfolio Management Review
click hereInformation About Your Fund's Expenses
click herePortfolio Summary
click hereInvestment Portfolio
click hereFinancial Statements
click hereFinancial Highlights
click hereNotes to Financial Statements
click hereReport of Independent Registered Public Accounting Firm
click hereTax Information
click hereShareholder Meeting Results
click hereSummary of Management Fee Evaluation by Independent
Fee Consultant
click hereTrustees and Officers
click hereAccount Management Resources This report must be preceded or accompanied by a prospectus. To obtain a
prospectus for any of our funds, refer to the Account Management Resources
information provided in the back of this booklet. We advise you to consider the
fund's objectives, risks, charges and expenses carefully before investing. The
prospectus contains this and other important information about the fund. Please
read the prospectus carefully before you invest. An investment in a money market fund is not insured or guaranteed by the Federal
Deposit Insurance Corporation or any other government agency. Although money
market funds seek to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in them. Please read the fund's prospectus for
specific details regarding its risk profile. DWS Investments is part of Deutsche Bank's Asset Management division and, within the US,
represents the retail asset management activities of Deutsche Bank AG, Deutsche Bank Trust
Company Americas, Deutsche Investment Management Americas Inc. and DWS Trust
Company. NOT FDIC/NCUA INSURED NO BANK GUARANTEE MAY LOSE VALUE
NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY Portfolio Management Review DWS Money Market Prime Series: A Team Approach to Investing Deutsche Investment Management Americas Inc. ("DIMA" or the
"Advisor"), which is part of Deutsche Asset Management, is the investment
advisor for DWS Money Market Prime Series. DIMA has more than 80 years
of experience managing mutual funds and provides a full range of
investment advisory services to institutional and retail clients. Deutsche Asset Management is a global asset management organization
that offers a wide range of investing expertise and resources. This
well-resourced global investment platform brings together a wide variety of
experience and investment insight across industries, regions, asset classes
and investing styles. DIMA is an indirect, wholly owned subsidiary of Deutsche Bank AG.
Deutsche Bank AG is a major global banking institution that is engaged in a
wide range of financial services, including investment management, mutual
funds, retail, private and commercial banking, investment banking and
insurance. Portfolio Management Team A group of investment professionals is responsible for the day-to-day
management of each fund. These investment professionals have a broad
range of experience managing money market funds. In the following interview, the portfolio management team discusses
the market environment and the team's approach to managing DWS
Money Market Prime Series during the fund's most recent fiscal year
ended July 31, 2008. The views expressed in the following discussion reflect those of the portfolio management
team only through the end of the period of the report as stated on the cover. The management
team's views are subject to change at any time based on market and other conditions and
should not be construed as a recommendation. Past performance is no guarantee of future
results. Q: Will you discuss the market environment for the fund during
the most recent 12-month period? A:In early 2007, increasing defaults by subprime mortgage
borrowers and losses on residential mortgage-backed securities had
sparked volatility in the financial markets as investors wondered to
what degree Wall Street and the banking community would be hurt
by a retrenchment in this market. By the fall of 2007, it became clear
that several financial firms would need to begin to reduce debt and
take significant write-downs. In the short end of the yield curve,
asset-backed securities' yields rose sharply, reflecting investors'
credit concerns, as did the London Interbank Offered Rate (LIBOR).1 1 The yield curve is a graph with a left-to-right line that shows how high or low yields are,
from the shortest to the longest maturities. Typically the line rises from left to right as
investors who are willing to tie up their money for a longer period are rewarded with higher
yields. When the yield curve is characterized as "steep," this is especially true.  LIBOR, or the London Interbank Offered Rate, is the most widely used benchmark or
reference rate for short-term interest rates. LIBOR is the rate of interest at which banks
borrow funds from other banks, in large volume, in the international market.  December ended with an optimistic tone to the markets, but in
January 2008, investors' anxieties returned in full force as pressures
on the financial markets seemed to come from every direction.
Economic data weakened significantly, the equity markets
struggled, short-term credit markets experienced further
dislocations, and large and small investors tried to rid themselves of
questionable credits. In addition, during the first quarter of 2008
large hedge funds with sizeable portfolios of mortgage securities
received margin calls from lenders, as the mortgage securities they
were employing as collateral for other transactions were devalued
by the marketplace. This led to more forced selling of billions of
dollars of mortgage securities and additional credit market
instability. In addition, Bear Stearns, the nation's fifth-largest
investment bank, had to be rescued from near bankruptcy by the
New York Federal Reserve Bank and JPMorgan Chase. In the general "flight to quality" that ensued from these major
events  amid a market atmosphere of fear and uncertainty over
perceived credit quality  demand for short-term Treasury
securities reached overwhelming levels as investors prized safety
over all other considerations, including yield.2 By mid-March, the
unprecedented level of market demand forced Treasury yields to
historic lows. 2 Credit quality is a measure of a bond issuer's ability to repay interest and principal in a
timely manner. Rating agencies assign letter designations such as AAA, AA and so forth.
The lower the rating, the higher the probability of default.  Performance is historical and does not guarantee future results. Current
performance may be lower or higher than the performance data quoted. An
investment in a money market fund is not insured or guaranteed by the Federal
Deposit Insurance Corporation or any other government agency. Although money
market funds seek to preserve the value of your investment at $1.00 per share, it is
possible to lose money by investing in them. 7-Day Current Yield as of July 31, 2008 
DWS Money Market Prime SeriesDWS Cash Investment Trust Class A Shares
2.03%DWS Cash Investment Trust Class B Shares
1.36%DWS Cash Investment Trust Class C Shares
1.35%DWS Cash Investment Trust Class S Shares
2.35%DWS Money Market Fund Shares
2.39% Yields are historical, will fluctuate, and do not guarantee future performance. The
7-day current yield refers to the income paid by the portfolios over a 7-day period
expressed as an annual percentage rate. For the most current yield information,
visit our Web site atwww.dws-investments.com. Lipper Ranking  Money Market Fund Categoryas of 7/31/08
(DWS Money Market Fund Shares)Period
Rank

Number of
Funds Tracked
Percentile
Ranking (%)1-Year
24
of
339
83-Year
21
of
310
75-Year
25
of
293
910-Year
21
of
192
10 Lipper Inc. rankings are based upon changes in net asset value with all dividends reinvested for
the periods indicated as of July 31, 2008. Rankings are historical and do not guarantee future
performance. The fund is compared to the Lipper Money Market Fund category. Rankings are
for DWS Money Market Fund Shares; other share classes may vary. Source: Lipper Inc. In response to the "credit crunch," as well as to fears of an
oncoming economic recession, the US Federal Reserve Board (the
Fed) cut the federal funds rate (the overnight rate charged by banks
when they borrow money from each other) a total of three and
one-quarter percentage points over seven Federal Open Market
Committee (FOMC) meetings from September 2007 to April 2008.
As a means of restoring liquidity within the global monetary system
(and restoring some normalcy to short-term Treasury yield levels),
the Fed also took a number of creative measures. These included
the setting up of temporary securities auction facilities for banks and
broker/dealers and significantly easier credit terms from the Fed for
these institutions. In April, the fact that the lending rate for the Fed's
recently established auction facility for banks was significantly (and
surprisingly) higher than LIBOR led to market uncertainty and
disruption. Over 10 days in mid-April LIBOR then spiked based on
investor scrutiny concerning whether LIBOR rates were too low,
before retreating somewhat. During May and June, financial market
conditions improved somewhat, and liquidity was largely restored in
the short end of the money market yield curve. Toward the close of
the period, worries over the financial health and future prospects of
the Government Sponsored Entities (GSEs) Fannie Mae and Freddie
Mac, both critical in creating a secondary "securitized" market for
pools of mortgages and maintaining a flow of funds for the US
home loan/mortgage market, negatively affected money market
funds. As of July 31, 2008, the three-month LIBOR, an industry standard
for measuring three-month taxable money market rates, stood at
2.79%, compared with 5.36% 12 months earlier. Q: In light of market conditions during the period, what has been
the strategy for the fund? A:Given the difficult situation throughout the investment markets
during much of the period, and understanding that the credit crunch
would not be a short-term phenomenon, our strategy for managing
through the situation was to emphasize liquidity and high credit
quality while looking for ways to maximize yield potential when
opportunities presented themselves. As liquidity returned to the
short end of the money market yield curve, we increased the fund's
allocation to short-term commercial paper and certificates of deposit
to take advantage of the wide yield spread between LIBOR and the
fed funds rate.3 3 The yield spread is the difference between the yield of a security and the yield of a
comparable duration Treasury. A large spread indicates that investors require yields
substantially above those of Treasuries in order to invest in lower quality bonds. This is
generally indicative of a higher-risk environment. A smaller spread generally indicates a
more positive environment, since investors are less concerned about risk and therefore
willing to accept lower yields. A drop in the yield spread is a positive.  We also maintained a significant allocation to floating rate securities
because of their attractive yields. (The interest rate of floating rate
securities adjusts periodically based on indices such as LIBOR and
the fed funds rate. Because the interest rates of these instruments
adjust as market conditions change, they provide flexibility in an
uncertain interest rate environment.) The decision to maintain a
significant allocation in this sector helped fund performance during
the 12-month period. Lastly, to increase portfolio diversification in
pursuit of additional safety, a core allocation in non-financial
securities such as Treasury, agency and corporate short-term issues
was maintained. Q: What detracted from performance during the period? A:The types of securities that the fund was investing in 
particularly in late 2007  tended to have lower yields than issues
carrying more risk. We preferred to be cautious during this time of
significant market turbulence. In the end this cost the fund some
yield, but we believe that this represented a prudent approach to
preserving principal. Q: Will you describe your investment philosophy? A:We continue to insist on the highest credit quality within the
fund. We also plan to maintain our conservative investment
strategies and standards, applying a careful approach to investing
while seeking competitive yield for our shareholders. Information About Your Fund's Expenses As an investor, you incur two types of costs: ongoing expenses and
transaction costs. Ongoing expenses include management fees, distribution
and service (12b-1) fees and other Fund expenses. Examples of transaction
costs include account maintenance fees, which are not shown in this
section. The following tables are intended to help you understand your
ongoing expenses (in dollars) of investing in the Fund and to help you
compare these expenses with the ongoing expenses of investing in other
mutual funds. In the most recent six-month period, the Fund limited these
expenses; had it not done so, expenses would have been higher. The
example in the table is based on an investment of $1,000 invested at the
beginning of the six-month period and held for the entire period(February 1, 2008 to July 31, 2008). The tables illustrate your Fund's expenses in two ways: •    Actual Fund Return. This helps you estimate the actual dollar amount of
ongoing expenses (but not transaction costs) paid on a $1,000
investment in the Fund using the Fund's actual return during the period.
To estimate the expenses you paid over the period, simply divide your
account value by $1,000 (for example, an $8,600 account value divided
by $1,000 = 8.6), then multiply the result by the number in the
"Expenses Paid per $1,000" line under the share class you hold. •    Hypothetical 5% Fund Return. This helps you to compare your Fund's
ongoing expenses (but not transaction costs) with those of other mutual
funds using the Fund's actual expense ratio and a hypothetical rate of
return of 5% per year before expenses. Examples using a 5%
hypothetical fund return may be found in the shareholder reports of other
mutual funds. The hypothetical account values and expenses may not be
used to estimate the actual ending account balance or expenses you
paid for the period. Please note that the expenses shown in these tables are meant to highlight
your ongoing expenses only and do not reflect any transaction costs. The
"Expenses Paid per $1,000" line of the tables is useful in comparing
ongoing expenses only and will not help you determine the relative total
expense of owning different funds. An account maintenance fee of $6.25
per quarter for Class S shares may apply for certain accounts whose
balances do not meet the applicable minimum initial investment. This fee is
not included in these tables. If it was, the estimate of expenses paid for
Class S shares during the period would be higher, and account value during
the period would be lower, by this amount. Expenses and Value of a $1,000 Investmentfor the six months ended July 31, 2008Actual Fund Return
DWS Cash
Investment
Trust
Class A
DWS Cash
Investment
Trust
Class B
DWS Cash
Investment
Trust
Class C
DWS Cash
Investment
Trust
Class S
DWS Money
Market
FundBeginning Account
Value 2/1/08
$      1,000.00
$      1,000.00
$      1,000.00
$      1,000.00
$      1,000.00Ending Account Value
7/31/08
$      1,011.70
$      1,008.00
$      1,008.30
$      1,013.30
$      1,013.70Expenses Paid
per $1,000*
$      4.00
$      7.69
$      7.44
$      2.45
$      2.05Hypothetical 5%
Fund Return
DWS Cash
Investment
Trust
Class A
DWS Cash
Investment
Trust
Class B
DWS Cash
Investment
Trust
Class C
DWS Cash
Investment
Trust
Class S
DWS Money
Market
FundBeginning Account
Value 2/1/08
$      1,000.00
$      1,000.00
$      1,000.00
$      1,000.00
$      1,000.00Ending Account Value
7/31/08
$      1,020.89
$      1,017.21
$      1,017.45
$      1,022.43
$      1,022,82Expenses Paid
per $1,000*
$      4.02
$      7.72
$      7.47
$      2.46
$      2.06 * Expenses are equal to the Fund's annualized expense ratio for each share class, multiplied
by the average account value over the period, multiplied by the number of days in the most
recent six-month period, then divided by 366.  Annualized Expense
Ratios
DWS Cash
Investment
Trust
Class A
DWS Cash
Investment
Trust
Class B
DWS Cash
Investment
Trust
Class C
DWS Cash
Investment
Trust
Class S
DWS Money
Market
FundDWS Money Market
Prime Series
.80%
1.54%
1.49%
.49%
.41% For more information, please refer to the Fund's prospectus. Portfolio Summary Asset Allocation(as a % of Investment Portfolio)
7/31/08
7/31/07Commercial Paper
50%
37%Short-Term Notes
23%
35%Certificates of Deposit and Bank Notes
15%
13%Government & Agency Obligations
5%
1%Repurchase Agreements
4%
2%Master Notes
2%
1%Time Deposits
1%
5%Promissory Notes

4%Asset Backed

1%Guaranteed Investment Contracts

1%100%
100% Weighted Average MaturityDWS Money Market Prime Series
50 days
37 daysFirst Tier Retail Money Fund Average*
44 days
43 days *  The Fund is compared to its respective iMoneyNet Category: First Tier Retail Money Fund
Average  Category includes a widely-recognized composite of money market funds that
invest in only first tier (highest rating) securities. Portfolio Holdings of First Tier funds
include US Treasury, US Other, Repos, Time Deposits, Domestic Bank Obligations, Foreign
Bank Obligations, First Tier Commercial Paper, Floating Rate Notes and Asset Backed
Commercial Paper.  Asset allocation and weighted average maturity are subjected to change. For more complete details about the Fund's holdings, see page 12-17. A quarterly Fact Sheet
is available upon request. Information concerning portfolio holdings of the Fund is posted twice
each month to www.dws-investments.com. Portfolio holdings as of the 15th day of each
month are posted on or after month-end and portfolio holdings as of each month-end are
posted on or after the 14th day of the following month. In addition, the Fund's top ten holdings
and other information about the Fund is posted on www.dws-investments.com as of the
calendar quarter-end on or after the 15th day following quarter-end. Please see the Account
Management Resources section for more contact information. Following the Fund's fiscal first and third quarter-end, a complete portfolio
holdings listing is filed with the SEC on Form N-Q. This form will be available
on the SEC's Web site at www.sec.gov, and it also may be reviewed and
copied at the SEC's Public Reference Room in Washington, D.C. Information
on the operation of the SEC's Public Reference Room may be obtained by
calling (800) SEC-0330. Investment Portfolioas of July 31, 2008 Principal
Amount ($)
Value ($)Certificates of Deposit and Bank Notes 14.8%ABN AMRO Bank NV, 2.805%, 10/17/2008
33,500,000
33,500,355Banco Bilbao Vizcaya Argentaria SA:3.005%, 10/28/2008
16,000,000
16,002,7533.155%, 1/5/2009
28,000,000
28,000,601Banco Santander SA:2.67%, 10/3/2008
18,000,000
17,997,7342.89%, 11/10/2008
25,000,000
25,002,052Bank of Scotland PLC:4.5%, 11/19/2008
20,000,000
20,000,0004.93%, 10/9/2008
10,000,000
10,000,000Barclays Bank PLC:3.0%, 12/2/2008
35,000,000
35,000,0003.15%, 12/8/2008
15,000,000
15,000,000Calyon, 3.0%, 10/22/2008
40,000,000
40,000,000Chase Bank USA NA, 2.73%, 11/17/2008
35,000,000
35,000,000Credit Agricole SA, 2.7%, 9/2/2008
35,000,000
35,000,000Credit Industriel et Commercial:3.045%, 10/14/2008
45,000,000
45,000,4593.1%, 9/25/2008
52,000,000
52,000,394Intesa Sanpaolo SpA, 3.02%, 12/29/2008
21,000,000
21,000,000JPMorgan Chase Bank NA, 2.8%, 8/11/2008
30,000,000
30,000,000Metropolitan Life Global Funding I, 3.8%, 1/20/2009
10,000,000
10,000,000Mizuho Corporate Bank Ltd:2.82%, 10/16/2008
40,000,000
40,000,0002.82%, 10/20/2008
25,000,000
25,000,000Societe Generale, 2.89%, 10/9/2008
25,000,000
25,000,000Toronto-Dominion Bank:2.68%, 8/18/2008
25,000,000
25,003,0282.86%, 9/8/2008
20,000,000
20,000,208Wells Fargo Bank NA, 2.43%, 8/14/2008
25,000,000
25,000,000Total Certificates of Deposit and Bank Notes (Cost $628,507,584)
628,507,584Commercial Paper 49.9%Issued at Discount** 41.5%Abbey National North America LLC, 2.6%, 10/22/2008
42,000,000
41,751,267AstraZeneca PLC:2.26%, 9/29/2008
22,000,000
21,918,5142.35%, 10/15/2008
44,000,000
43,784,5832.71%, 11/24/2008
20,000,000
19,826,8612.88%, 8/20/2008
15,000,000
14,977,200AT&T, Inc., 2.25%, 10/3/2008
20,000,000
19,921,250Bank of Scotland PLC, 2.65%, 8/22/2008
10,000,000
9,984,542Caisse Nationale des Caisses Depargne et de Prevoyance:2.96%, 8/12/2008
43,000,000
42,961,1092.96%, 12/15/2008
32,000,000
31,642,1692.96%, 12/23/2008
45,000,000
44,467,200Cancara Asset Securitisation LLC:2.56%, 8/20/2008
45,320,000
45,258,7682.7%, 8/4/2008
44,000,000
43,990,100Chariot Funding LLC, 2.48%, 8/15/2008
24,383,000
24,359,484Colgate-Palmolive Co., 2.05%, 8/29/2008
6,000,000
5,990,433CVS/Caremark Corp., 2.75%, 8/21/2008
30,000,000
29,954,167Dexia Delaware LLC, 2.81%, 10/23/2008
40,000,000
39,740,856General Electric Capital Corp.:2.7%, 12/15/2008
30,000,000
29,694,0002.75%, 9/19/2008
22,000,000
21,917,6533.92%, 9/30/2008
20,000,000
19,869,333Giro Balanced Funding Corp.:2.75%, 8/29/2008
20,000,000
19,957,2222.94%, 8/15/2008
40,000,000
39,954,267Gotham Funding Corp.:2.57%, 8/21/2008
25,000,000
24,964,3062.67%, 8/22/2008
32,000,000
31,950,160Grampian Funding LLC, 2.57%, 8/19/2008
25,000,000
24,967,875Greenwich Capital Holdings, Inc., 2.98%, 12/18/2008
30,000,000
29,654,817Johnson & Johnson, 2.0%, 9/4/2008
15,000,000
14,971,667JPMorgan Chase & Co.:2.3%, 8/12/2008
20,000,000
19,985,9442.49%, 9/29/2008
40,000,000
39,836,767KBC Financial Products International Ltd.:2.75%, 9/26/2008
25,000,000
24,893,0562.85%, 11/3/2008
24,000,000
23,821,4002.975%, 8/19/2008
32,500,000
32,451,656Kellogg Co.:2.6%, 8/15/2008
7,000,000
6,992,9222.6%, 8/20/2008
15,000,000
14,979,4172.75%, 9/5/2008
10,000,000
9,973,264Liberty Street Funding LLC:2.65%, 8/25/2008
32,500,000
32,442,5832.77%, 8/6/2008
5,000,000
4,998,0762.9%, 9/30/2008
5,000,000
4,975,833Lloyds TSB Bank PLC, 2.25%, 8/11/2008
20,000,000
19,987,500Merck & Co., Inc., 2.2%, 10/15/2008
17,000,000
16,922,083MetLife, Inc., 2.11%, 8/13/2008
5,000,000
4,996,483Nestle Capital Corp.:2.49%, 12/17/2008
15,000,000
14,856,8254.3%, 10/31/2008
5,000,000
4,945,653Nieuw Amsterdam Receivables Corp., 2.65%, 8/8/2008
35,000,000
34,981,965Nissan Motor Acceptance Corp.:2.85%, 8/6/2008
2,500,000
2,499,0102.85%, 8/25/2008
5,000,000
4,990,5002.9%, 8/19/2008
6,000,000
5,991,3003.07%, 9/18/2008
25,000,000
24,897,667Novartis Finance Corp., 2.5%, 10/6/2008
45,000,000
44,793,750Pfizer, Inc.:2.27%, 9/23/2008
35,000,000
34,883,0322.685%, 8/6/2008
28,000,000
27,989,558Procter & Gamble International Funding SCA, 2.2%, 10/24/2008
10,000,000
9,948,667Romulus Funding Corp.:2.75%, 8/5/2008
20,670,000
20,663,6842.81%, 8/4/2008
3,000,000
2,999,297Royal Bank of Scotland Group PLC, 3.1%, 12/12/2008
20,000,000
19,770,944Scaldis Capital LLC:2.64%, 8/15/2008
30,000,000
29,969,2002.7%, 8/6/2008
15,000,000
14,994,3752.71%, 8/7/2008
15,000,000
14,993,225Societe Generale North America, Inc.:2.935%, 12/22/2008
40,000,000
39,533,6613.15%, 10/22/2008
40,000,000
39,713,000Starbird Funding Corp., 3.02%, 9/30/2008
42,000,000
41,788,600Swedbank AB, 2.77%, 8/19/2008
35,000,000
34,951,525Total Capital SA, 2.3%, 9/30/2008
20,000,000
19,923,333Toyota Motor Credit Corp.:2.25%, 10/3/2008
20,000,000
19,921,2502.53%, 10/14/2008
30,300,000
30,142,4232.88%, 12/30/2008
20,000,000
19,758,400Tulip Funding Corp., 2.65%, 8/6/2008
20,000,000
19,992,639Verizon Communications, Inc.:2.4%, 8/11/2008
2,000,000
1,998,6672.45%, 8/28/2008
20,000,000
19,963,2502.48%, 8/26/2008
20,000,000
19,965,556Victory Receivables Corp.:2.62%, 8/4/2008
55,783,000
55,770,8212.74%, 8/18/2008
24,350,000
24,318,4942.8%, 8/18/2008
20,000,000
19,973,556Volkswagen of America:2.82%, 8/14/2008
15,000,000
14,984,7252.85%, 8/6/2008
15,000,000
14,994,0623.05%, 9/22/2008
10,000,000
9,955,9441,757,505,345Issued at Par 8.4%Alpine Securitization, 2.22%, 8/1/2008
20,000,000
20,000,000Citibank Credit Card Issuance Trust, 2.8%, 8/1/2008
54,000,000
54,000,000CVS/Caremark Corp., 2.6%, 8/1/2008
20,000,000
20,000,000Falcon Asset Securitization Co., LLC, 2.25%, 8/1/2008
20,000,000
20,000,000General Electric Capital Corp., 2.18%, 8/1/2008
100,000,000
100,000,000Johnson Controls, Inc., 2.5%, 8/1/2008
20,000,000
20,000,000Nieuw Amsterdam Receivables Corp.:2.45%, 8/1/2008
53,000,000
53,000,0002.5%, 8/1/2008
10,000,000
10,000,000Perry Global Funding LLC, 2.76%, 8/1/2008
20,000,000
20,000,000Swedbank AB, 2.95%, 8/1/2008
22,000,000
22,000,000Tempo Finance Corp., 2.3%, 8/1/2008
10,000,000
10,000,000Windmill Funding I Corp., 2.2%, 8/1/2008
8,118,000
8,118,000357,118,000Total Commercial Paper (Cost $2,114,623,345)
2,114,623,345Short-Term Notes* 23.5%Abbey National Treasury Services PLC:2.881%, 4/24/2009
15,000,000
15,000,0002.895%, 2/20/2009
25,000,000
25,000,000ANZ National (International) Ltd., 144A, 2.915%, 4/10/2009
12,500,000
12,500,000Australia & New Zealand Banking Group Ltd., 2.891%, 7/2/2009
20,000,000
20,000,000Banco Espanol de Credito SA, 2.785%, 8/11/2008
50,000,000
50,000,000Bank of America NA, 2.987%, 7/6/2009
23,980,000
23,980,000Bank of Nova Scotia, 3.134%, 5/6/2009
20,000,000
20,000,000Bank of Scotland PLC, 2.994%, 6/5/2009
13,225,000
13,225,000BNP Paribas:2.46%, 8/25/2008
30,000,000
30,000,0002.895%, 5/13/2009
15,000,000
15,000,000Caja de Ahorros y Monte de Piedad de Madrid,
2.936%, 8/12/2008
25,000,000
25,000,000Commonwealth Bank of Australia, 2.752%, 12/18/2008
10,000,000
9,999,010Credit Agricole SA, 144A, 3.031%, 7/22/2009
37,500,000
37,500,000Danske Bank AS, 2.448%, 8/19/2008
44,000,000
43,999,855DNB NOR Bank ASA, 2.471%, 9/24/2008
15,000,000
15,000,000General Electric Capital Corp., 2.481%, 8/19/2011
30,000,000
30,000,000HSBC Bank USA NA, 2.467%, 8/15/2008
65,000,000
65,000,266HSBC Finance Corp., 2.48%, 8/6/2008
15,000,000
15,000,000HSH Nordbank AG, 2.478%, 8/20/2008
25,000,000
25,000,000ING Bank NV, 3.059%, 3/26/2009
10,000,000
10,000,000Intesa Bank (Ireland) PLC, 2.481%, 8/22/2008
65,000,000
65,000,000Intesa Sanpaolo SpA, 2.956%, 5/13/2009
33,050,000
33,050,000JPMorgan Chase & Co., 2.827%, 4/3/2009
40,000,000
39,998,629KBC Bank NV, 2.81%, 12/16/2008
42,500,000
42,500,000Metropolitan Life Global Funding I,Metropolitan Life Global Funding I, 144A, 3.041%, 8/7/2009
7,500,000
7,500,000National Australia Bank Ltd.:2.918%, 2/19/2009
22,500,000
22,500,0003.001%, 4/7/2009
15,000,000
15,000,000Natixis, 2.921%, 4/6/2009
35,000,000
35,000,000Nordea Bank AB, 2.461%, 9/8/2008
50,000,000
49,999,849Procter & Gamble International Funding SCA, 2.788%,
2/19/2009
7,500,000
7,500,000Rabobank Nederland NV, 144A, 2.9%, 8/7/2009
22,500,000
22,500,000Royal Bank of Canada, 2.857%, 7/15/2009
22,000,000
22,000,000Skandinaviska Enskilda Banken AB, 2.476%, 8/19/2008
7,000,000
7,000,000Svenska Handelsbanken AB, 144A, 3.15%, 8/25/2009
12,000,000
12,000,000Toyota Motor Credit Corp., 2.3%, 3/12/2009
15,000,000
15,000,000UniCredito Italiano Bank (Ireland) PLC:2.487%, 8/14/2008
32,000,000
32,000,0002.501%, 8/8/2008
41,000,000
41,000,0002.781%, 8/8/2008
24,000,000
23,999,970Total Short-Term Notes (Cost $994,752,579)
994,752,579Master Notes 2.0%Citigroup Global Markets, Inc., 2.337%*, 8/1/2008 (a)
(Cost $85,000,000)
85,000,000
85,000,000Time Deposits 0.4%BNP Paribas, 2.15%, 8/1/2008
14,507,891
14,507,891Toronto-Dominion Bank, 2.125%, 8/1/2008
2,955,966
2,955,966Total Time Deposits (Cost $17,463,857)
17,463,857Government & Agency Obligations 5.1%US Government Sponsored Agencies 3.0%Federal Home Loan Bank:1.82%**, 8/1/2008
2,974,000
2,974,0002.31%*, 4/3/2009
12,000,000
12,000,0002.35%**, 2/11/2009
20,000,000
19,746,7222.36%**, 5/12/2009
15,000,000
14,720,7332.53%**, 1/26/2009
40,000,000
39,499,6222.73%**, 1/20/2009
15,000,000
14,804,350Federal National Mortgage Association, 2.575%**, 11/26/2008
24,000,000
23,799,150127,544,577US Treasury Obligations 2.1%US Treasury Bills:2.1%**, 7/2/2009
15,000,000
14,706,8752.31%**, 7/2/2009
20,000,000
19,570,0832.37%**, 6/4/2009
20,000,000
19,595,7832.42%**, 6/4/2009
17,500,000
17,138,849US Treasury Note, 4.875%, 5/15/2009
16,000,000
16,336,57587,348,165Total Government & Agency Obligations (Cost $214,892,742)
214,892,742Repurchase Agreements 4.1%Banc of America Securities LLC, 2.18%, dated 7/31/2008, to be
repurchased at $37,540,416 on 8/1/2008 (b)
37,538,143
37,538,143BNP Paribas, 2.19%, dated 7/31/2008 to be repurchased at
$30,001,825 on 8/1/2008 (c)
30,000,000
30,000,000Credit Suisse Securities (USA) LLC, 2.2%, dated 7/31/2008, to
be repurchased at $33,516,436 on 8/1/2008 (d)
33,514,388
33,514,388JPMorgan Securities, Inc., 2.18%, dated 7/31/2008, to be
repurchased at $50,938,183 on 8/1/2008 (e)
50,935,099
50,935,099Merrill Lynch Government Securities, Inc., 2.2%,
dated 7/31/2008, to be repurchased at $20,001,222
on 8/1/2008 (f)
20,000,000
20,000,000Total Repurchase Agreements (Cost $171,987,630)
171,987,630 % of Net
Assets
Value ($)Total Investment Portfolio(Cost $4,227,227,737)+
99.8
4,227,227,737Other Assets and Liabilities, Net
0.2
10,428,149Net Assets
100.0
4,237,655,886 * Floating rate notes are securities whose yields vary with a designated market index or
market rate, such as the coupon-equivalent of the US Treasury bill rate. These securities
are shown at their current rate as of July 31, 2008.  ** Annualized yield at time of purchase; not a coupon rate.  +  The cost for federal income tax purposes was $4,227,227,737.  (a) Reset date; not a maturity date.  (b) Collateralized by $40,243,253 Federal Home Loan Mortgage Corp., 5.0%, maturing on
7/1/2038 with a value of $38,288,906.  (c) Collateralized by $30,455,000 Federal Home Loan Bank, 2.62%, maturing on 4/28/2009
with a value of $30,604,179.  (d) Collateralized by $33,493,757 Federal Home Loan Mortgage Corp., 5.615-5.928%, with
various maturity dates of 7/1/2037-11/1/2037 with a value of $34,188,367.  (e) Collateralized by $51,470,384 Federal National Mortgage Association, 6.0%, maturing on
11/1/2036 with a value of $51,956,137.  (f) Collateralized by $21,407,222 Federal Home Loan Mortgage Corp., 5.0%, maturing on
2/1/2037 with a value of $20,401,083.  144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These
securities may be resold in transactions exempt from registration, normally to qualified
institutional buyers. The accompanying notes are an integral part of the financial statements. Financial Statements Statement of Assets and Liabilitiesas of July 31, 2008AssetsInvestments in securities, valued at amortized cost
$       4,227,227,737Cash
309,012Receivable for Fund shares sold
11,181,993Interest receivable
6,655,018Other assets
114,335Total assets
4,245,488,095LiabilitiesPayable for Fund shares redeemed
3,617,080Distributions payable
1,089,650Accrued management fee
547,983Other accrued expenses and payables
2,577,496Total liabilities
7,832,209Net assets, at value
$    4,237,655,886Net Assets Consist ofUndistributed net investment income
102,392Accumulated net realized gain (loss)
(252,849)Paid-in capital
4,237,806,343Net assets, at value
$    4,237,655,886 The accompanying notes are an integral part of the financial statements. Statement of Assets and Liabilitiesas of July 31, 2008 (continued)Net Asset ValueDWS Cash Investment Trust Class ANet Asset Value, offering and redemption price per share
($156,423,056 ÷ 156,511,613 outstanding shares of beneficial interest, no par
value, unlimited number of shares authorized)
$    1.00DWS Cash Investment Trust Class BNet Asset Value, offering and redemption price per share
($29,956,742 ÷ 29,995,167 outstanding shares of beneficial interest, no par
value, unlimited number of shares authorized)
$    1.00DWS Cash Investment Trust Class CNet Asset Value, offering and redemption price per share
($42,434,075 ÷ 42,457,050 outstanding shares of beneficial interest, no par
value, unlimited number of shares authorized)
$    1.00DWS Cash Investment Trust Class SNet Asset Value, offering and redemption price per share
($579,012,787 ÷ 579,706,991 outstanding shares of beneficial interest, no par
value, unlimited number of shares authorized)
$    1.00DWS Money Market FundNet Asset Value, offering and redemption price per share
($3,429,829,226 ÷ 3,429,490,925 outstanding shares of beneficial interest,
no par value, unlimited number of shares authorized)
$    1.00 The accompanying notes are an integral part of the financial statements. Statement of Operationsfor the year ended July 31, 2008Investment IncomeIncome:Interest
$       183,006,145Expenses:Management fee
10,257,413Services to shareholders
6,326,342Administration fee
1,072,566Distribution and service fees
1,053,928Custodian fee
157,028Trustees' fees and expenses
339,698Reports to shareholders and shareholder meeting
936,593Registration fees
179,207Professional fees
195,265Other
155,801Total expenses before expense reductions
20,673,841Expense reductions
(284,914)Total expenses after expense reductions
20,388,927Net investment income
162,617,218Net realized gain (loss)
(25,112)Net increase (decrease) in net assets resulting from operations
$    162,592,106 The accompanying notes are an integral part of the financial statements. Statement of Changes in Net AssetsIncrease (Decrease) in Net Assets
Years Ended July 31,2008
2007Operations:Net investment income
$       162,617,218
$       187,910,583Net realized gain (loss)
(25,112)
(697)Net increase (decrease) in net assets resulting from
operations
162,592,106
187,909,886Distributions to shareholders from net
investment income:DWS Cash Investment Trust Class A
(4,273,645)
(2,032,244)*DWS Cash Investment Trust Class B
(840,703)
(536,254)*DWS Cash Investment Trust Class C
(1,058,276)
(548,761)*DWS Cash Investment Trust Class S
(21,748,749)
(11,402,855)*DWS Money Market Fund
(134,695,847)
(173,390,469)Total distributions
(162,617,220)
(187,910,583)Fund share transactions:Proceeds from shares sold
2,642,320,963
2,521,059,750Reinvestment of distributions
160,374,466
183,816,351Cost of shares redeemed
(2,954,617,892)
(2,523,978,597)Net assets acquired in tax-free reorganization

809,867,584Net increase (decrease) in net assets from Fund share
transactions
(151,922,463)
990,765,088Increase (decrease) in net assets
(151,947,577)
990,764,391Net assets at beginning of period
4,389,603,463
3,398,839,072Net assets at end of period (including undistributed
net investment income of $102,392 and $102,394,
respectively)
$    4,237,655,886
$    4,389,603,463 * For the period from March 12, 2007 (commencement of operations) to July 31, 2007.  The accompanying notes are an integral part of the financial statements. Financial Highlights DWS Cash Investment Trust Class AYears Ended July 31,
2008
2007aSelected Per Share DataNet asset value, beginning of period
$    1.00
$    1.00Net investment income
.034
.018Distributions from net investment income
(.034)
(.018)Net asset value, end of period
$    1.00
$    1.00Total Return (%)
3.41b
1.77**Ratios to Average Net Assets and Supplemental DataNet assets, end of period ($ millions)
156
116Ratio of expenses before expense reductions (%)
.85
.86*Ratio of expenses after expense reductions (%)
.84
.86*Ratio of net investment income (%)
3.37
4.51*aFor the period from March 12, 2007 (commencement of operations) to July 31, 2007.bTotal return would have been lower had certain expenses not been reduced.*Annualized**Not annualized DWS Cash Investment Trust Class BYears Ended July 31,
2008
2007aSelected Per Share DataNet asset value, beginning of period
$    1.00
$    1.00Net investment income
.026
.014Distributions from net investment income
(.026)
(.014)Net asset value, end of period
$    1.00
$    1.00Total Return (%)
2.62b
1.45b**Ratios to Average Net Assets and Supplemental DataNet assets, end of period ($ millions)
30
36Ratio of expenses before expense reductions (%)
1.62
1.69*Ratio of expenses after expense reductions (%)
1.61
1.67*Ratio of net investment income (%)
2.60
3.70*aFor the period from March 12, 2007 (commencement of operations) to July 31, 2007.bTotal return would have been lower had certain expenses not been reduced.*Annualized**Not annualized DWS Cash Investment Trust Class CYears Ended July 31,
2008
2007aSelected Per Share DataNet asset value, beginning of period
$    1.00
$    1.00Net investment income
.027
.015Distributions from net investment income
(.027)
(.015)Net asset value, end of period
$    1.00
$    1.00Total Return (%)
2.69b
1.48b**Ratios to Average Net Assets and Supplemental DataNet assets, end of period ($ millions)
42
39Ratio of expenses before expense reductions (%)
1.54
1.60*Ratio of expenses after expense reductions (%)
1.53
1.60*Ratio of net investment income (%)
2.68
3.77*aFor the period from March 12, 2007 (commencement of operations) to July 31, 2007.bTotal return would have been lower had certain expenses not been reduced.*Annualized**Not annualized DWS Cash Investment Trust Class SYears Ended July 31,
2008
2007aSelected Per Share DataNet asset value, beginning of period
$    1.00
$    1.00Net investment income
.037
.019Distributions from net investment income
(.037)
(.019)Net asset value, end of period
$    1.00
$    1.00Total Return (%)
3.73b
1.89**Ratios to Average Net Assets and Supplemental DataNet assets, end of period ($ millions)
579
602Ratio of expenses before expense reductions (%)
.53
.56*Ratio of expenses after expense reductions (%)
.53
.56*Ratio of net investment income (%)
3.68
4.81*aFor the period from March 12, 2007 (commencement of operations) to July 31, 2007.bTotal return would have been lower had certain expenses not been reduced.*Annualized**Not annualized DWS Money Market FundYears Ended July 31,
2008
2007
2006
2005
2004Selected Per Share DataNet asset value, beginning of period
$    1.00
$    1.00
$    1.00
$    1.00
$    1.00Net investment income
.038
.050
.040
.019
.007Distributions from net investment income
(.038)
(.050)
(.040)
(.019)
(.007)Net asset value, end of period
$    1.00
$    1.00
$    1.00
$    1.00
$    1.00Total Return (%)
3.84a
5.09
4.04
1.95
.71Ratios to Average Net Assets and Supplemental DataNet assets, end of period ($ millions)
3,430
3,596
3,399
3,392
3,432Ratio of expenses before expense reductions (%)
.43
.40
.44
.48
.43Ratio of expenses after expense reductions  (%)
.42
.40
.44
.48
.43Ratio of net investment income (%)
3.79
4.98
3.97
1.91
.72aTotal return would have been lower had certain expenses not been reduced. Notes to Financial Statements A. Significant Accounting Policies DWS Money Market Prime Series (the "Fund") is a diversified series of
DWS Money Funds (the "Trust") which is registered under the Investment
Company Act of 1940, as amended (the "1940 Act"), as an open-end,
diversified management investment company organized as a Massachusetts
business trust. The Fund offers multiple classes of shares which provide investors with
different purchase options: DWS Cash Investment Trust Classes A, B, C, S
and DWS Money Market Fund shares. DWS Cash Investment Trust Class A
shares are offered to investors without an initial sales charge but are subject
to the applicable sales charge if exchanged into Class A shares of another
DWS Investments Fund. DWS Cash Investment Trust Class B shares are
offered to investors without an initial sales charge but are subject to higher
ongoing expenses than DWS Cash Investment Trust Class A shares and a
contingent deferred sales charge payable upon certain redemptions. DWS
Cash Investment Trust Class B shares automatically convert to DWS Cash
Investment Trust Class A shares six years after issuance. DWS Cash
Investment Trust Class C shares are offered to investors without an initial
sales charge but are subject to higher ongoing expenses than DWS Cash
Investment Trust Class A shares and a contingent deferred sales charge
payable upon certain redemptions within one year of purchase. DWS Cash
Investment Trust Class C shares do not convert into another class. DWS
Money Market Fund and DWS Cash Investment Trust Class S shares are not
subject to initial or contingent deferred sales charges. DWS Cash
Investment Trust Class S shares are generally not available to new investors
except under certain circumstances. Investment income, realized gains and losses, and certain fund-level
expenses and expense reductions, if any, are borne pro rata on the basis of
relative net assets by the holders of all classes of shares, except that each
class bears certain expenses unique to that class such as distribution and
service fees, services to shareholders and certain other class-specific
expenses. Differences in class-level expenses may result in payment of
different per share dividends by class. All shares of the Fund have equal
rights with respect to voting subject to class-specific arrangements. The Fund's financial statements are prepared in accordance with accounting
principles generally accepted in the United States of America, which require
the use of management estimates. Actual results could differ from those
estimates. The policies described below are followed consistently by the
Fund in the preparation of their financial statements. Security Valuation. Portfolio securities are valued utilizing the amortized
cost method permitted in accordance with Rule 2a-7 under the 1940 Act and
certain conditions therein. Under this method, which does not take into
account unrealized capital gains or losses on securities, an instrument is
initially valued at its cost and thereafter assumes a constant
accretion/amortization rate to maturity of any discount or premium. New Accounting Pronouncement. In September 2006, the Financial
Accounting Standards Board ("FASB") released Statement of Financial
Accounting Standards No. 157, "Fair Value Measurements" ("FAS 157").
FAS 157 defines fair value, establishes a framework for measuring fair value
and expands disclosures about fair value measurements. FAS 157 is
effective for fiscal years beginning after November 15, 2007. As of July 31,
2008, management does not believe the adoption of FAS 157 will impact the
amounts reported in the financial statements, however, additional
disclosures will be required about the inputs used to develop the
measurements of fair value and the effect of certain of the measurements
reported in the statement of operations for a fiscal period. Repurchase Agreements. The Fund may enter into repurchase agreements
with certain banks and broker/dealers whereby the Fund, through its
custodian or sub-custodian bank, receives delivery of the underlying
securities, the amount of which at the time of purchase and each
subsequent business day is required to be maintained at such a level that
the market value is equal to at least the principal amount of the repurchase
price plus accrued interest. The custodian bank holds the collateral in a
separate account until the agreement matures. If the value of the securities
falls below the principal amount of the repurchase agreement plus accrued
interest, the financial institution deposits additional collateral by the
following business day. If the financial institution either fails to deposit the
required additional collateral or fails to repurchase the securities as agreed,
the Fund has the right to sell the securities and recover any resulting loss
from the financial institution. If the financial institution enters into
bankruptcy, the Fund's claims on the collateral may be subject to legal
proceedings. Federal Income Taxes. The Fund's policy is to comply with the requirements
of the Internal Revenue Code, as amended, which are applicable to
regulated investment companies, and to distribute all of its taxable income
to its shareholders. At July 31, 2008, the Fund had a net tax basis capital loss carry forward of
approximately $143,000 which may be applied against any realized net
taxable capital gains of each succeeding year until fully utilized or until
July 31, 2016, whichever occurs first. In addition from November 1, 2007
through July 31, 2008, the Fund incurred approximately $109,000 of net
realized capital losses. As permitted by tax regulations, the Fund intends to
elect to defer these losses and treat them as arising in the fiscal year ending
July 31, 2009. The Fund has reviewed the tax positions for the open tax years as of
July 31, 2008 and has determined that no provision for income tax is
required in the Fund's financial statements. The Fund's federal tax returns
for the prior three fiscal years remain subject to examination by the Internal
Revenue Service. Distribution of Income and Gains. Net investment income of the Fund is
declared as a daily dividend and is distributed to shareholders monthly. The
Fund may take into account capital gains and losses in its daily dividend
declarations. The Fund may also make additional distributions for tax
purposes if necessary. Permanent book and tax basis differences relating to shareholder
distributions will result in reclassifications to paid in capital. Temporary book
and tax basis differences will reverse in a subsequent period. There were no
significant book-to-tax differences for the Fund. At July 31, 2008, the Fund's components of distributable earnings
(accumulated losses) on a tax basis were as follows: Undistributed ordinary income*
$       1,276,501 In addition, the tax character of distributions paid to shareholders by the
Fundissummarized as follows: Years Ended July 31,2008
2007Distributions from ordinary income*
$       162,617,220
$       187,910,583 * For tax purposes, short-term capital gains distributions are considered ordinary income
distributions.  Contingencies. In the normal course of business, the Fund may enter into
contracts with service providers that contain general indemnification
clauses. The Fund's maximum exposure under these arrangements is
unknown as this would involve future claims that may be made against the
Fund that have not yet been made. However, based on experience, the Fund
expects the risk of loss to be remote. Other. Investment transactions are accounted for on trade date. Interest
income is recorded on the accrual basis. Realized gains and losses from
investment transactions are recorded on an identified cost basis. All
discounts and premiums are accreted/amortized for both tax and financial
reporting purposes. B. Related Parties Management Agreement. Under the Investment Management Agreement
with Deutsche Investment Management Americas Inc. ("DIMA" or the
"Advisor"), an indirect, wholly owned subsidiary of Deutsche Bank AG, the
Advisor directs the investments of the Fund in accordance with their
investment objectives, policies and restrictions. The Advisor determines the
securities, instruments and other contracts relating to investments to be
purchased, sold or entered into by the Fund. Prior to May 1, 2008, under the Investment Management Agreement, the
Fund paid a monthly management fee of 1/12 of the annual rates of the
average daily net assets of the Fund as follows, computed and accrued daily
and payable monthly: First $215,000,000 of the Fund's average daily net assets
.500%Next $335,000,000 of such net assets
.375%Next $250,000,000 of such net assets
.300%Next $800,000,000 of such net assets
.250%Next $800,000,000 of such net assets
.240%Next $800,000,000 of such net assets
.230%Over $3,200,000,000 of such net assets
.220% Effective May 1, 2008, under the Amended and Restated Investment
Management Agreement, the Fund paid a monthly management fee of 1/12
of the annual rates of the average daily net assets of the Fund as follows,
computed and accrued daily and payable monthly: First $215,000,000 of the Fund's average daily net assets
.400%Next $335,000,000 of such net assets
.275%Next $250,000,000 of such net assets
.200%Next $800,000,000 of such net assets
.150%Next $800,000,000 of such net assets
.140%Next $800,000,000 of such net assets
.130%Over $3,200,000,000 of such net assets
.120% Accordingly, for the year ended July 31, 2008, the fee pursuant to the
Investment Management Agreement was equivalent to an annual effective
rate of 0.24% of the Fund's average daily net assets. For the period from August 1, 2007 through March 9, 2010, the Advisor has
contractually agreed to waive all or a portion of its management fee and
reimburse or pay certain operating expenses to the extent necessary to
maintain total operating expenses of certain classes of the Fund (excluding
certain expenses such as extraordinary expenses, taxes, brokerage and
interest) as follows: DWS Cash Investment Trust Class A
0.96%DWS Cash Investment Trust Class B
1.67%DWS Cash Investment Trust Class C
1.60%DWS Money Market Fund
0.47% For DWS Cash Investment Trust Class S shares, for the period from August
1, 2007 through September 30, 2008, the Advisor has contractually agreed
to waive all or a portion of its management fee and reimburse or pay certain
operating expenses (excluding certain expenses such as extraordinary
expenses, taxes, brokerage and interest) to the extent necessary to
maintain total operating expenses at 0.67% of the Fund's average daily net
assets. For DWS Cash Investment Trust Class S shares, for the period from October
1, 2008 through March 9, 2010, the Advisor has contractually agreed to
waive all or a portion of its management fee and reimburse or pay certain
operating expenses (excluding certain expenses such as extraordinary
expenses, taxes, brokerage and interest) to the extent necessary to
maintain total operating expenses at 0.72% of the Fund's average daily net
assets. Administration Fee. Effective May 1, 2008, pursuant to an Administrative
Services Agreement, DIMA provides most administrative services to the
Fund. For all services provided under the Administrative Services
Agreement, the Fund pays the Advisor an annual fee ("Administration Fee")
of 0.10% of the Fund's average daily net assets, computed and accrued daily
and payable monthly. For the period from May 1, 2008 through July 31,
2008, the Advisor received an Administration Fee of $1,072,566, of which
$359,367 is unpaid. Service Provider Fees. DWS Investments Service Company ("DISC"), an
affiliate of the Advisor, is the transfer agent, dividend-paying agent and
shareholder service agent for the Fund. Pursuant to a sub-transfer agency
agreement among DISC and DST Systems, Inc. ("DST"), DISC has
delegated certain transfer agent, dividend-paying agent and shareholder
service agent functions to DST. DISC compensates DST out of the
shareholder servicing fee it receives from the Fund. For the year ended July
31, 2008, the amounts charged to the Fund by DISC were as follows: Services to Shareholders
Total
Aggregated
Unpaid at
July 31, 2008DWS Cash Investment Trust Class A
$       334,835
$       95,653DWS Cash Investment Trust Class B
88,700
26,323DWS Cash Investment Trust Class C
81,316
25,750DWS Cash Investment Trust Class S
1,154,519
340,931DWS Money Market Fund
3,302,595
918,143$    4,961,965
$    1,406,800 Distribution and Service Fees. Under the Fund's DWS Cash Investment
Trust Class B and DWS Cash Investment Trust Class C 12b-1 Plans, DWS
Investments Distributors, Inc. ("DIDI"), an affiliate of the Advisor, receives a
fee ("Distribution Fee") of 0.75% of average daily net assets of each of
DWS Cash Investment Trust Class B and DWS Cash Investment Trust Class
C shares. In accordance with the Fund's Underwriting and Distribution
Services Agreement, DIDI enters into related selling group agreements with
various firms at various rates for sales of DWS Cash Investment Trust Class
B and DWS Cash Investment Trust Class C shares. For the year ended July
31, 2008, the Distribution Fee was as follows: Distribution Fee
Total
Aggregated
Unpaid at
July 31, 2008DWS Cash Investment Trust Class B
$       240,366
$       19,912DWS Cash Investment Trust Class C
303,596
28,110$    543,962
$    48,022 In addition, DIDI provides information and administrative services for a fee
("Service Fee") to DWS Cash Investment Trust Class A, DWS Cash
Investment Trust Class B, and DWS Cash Investment Trust Class C
shareholders at an annual rate of up to 0.25% of average daily net assets for
each such class. DIDI in turn has various agreements with financial services
firms that provide these services and pays these fees based upon the
assets of shareholder accounts the firms service. For the year ended July
31, 2008, the Service Fee was as follows: Service Fee
Total
Aggregated
Unpaid at
July 31, 2008
Annual
Effective RateDWS Cash Investment Trust Class A
$       328,645
$       32,443
.25%DWS Cash Investment Trust Class B
80,122
6,316
.25%DWS Cash Investment Trust Class C
101,199
9,053
.25%$    509,966
$    47,812 Contingent Deferred Sales Charge. DIDI receives any contingent deferred
sales charge ("CDSC") from DWS Cash Investment Trust Class B share
redemptions occurring within six years of purchase and DWS Cash
Investment Trust Class C share redemptions occurring within one year of
purchase. There is no such charge upon redemption of any share
appreciation or reinvested dividends. The CDSC is based on declining rates
ranging from 4% to 1% for DWS Cash Investment Trust Class B and 1% for
DWS Cash Investment Trust Class C, of the value of the shares redeemed.
For the year ended July 31, 2008, the CDSC for DWS Cash Investment Trust
Class B and DWS Cash Investment Trust Class C shares aggregated
$127,000 and $13,146, respectively. A deferred sales charge of up to 0.85%
is assessed on certain redemptions of DWS Cash Investment Trust Class A
shares. For the year ended July 31, 2008, DIDI received $13,359 for DWS
Cash Investment Trust Class A shares. Typesetting and Filing Service Fees. Under an agreement with DIMA, DIMA
is compensated for providing typesetting and certain regulatory filing
services to the Fund. For the year ended July 31, 2008, the amount charged
to the Fund by DIMA included in the Statement of Operations under
"reports to shareholders and shareholder meeting" aggregated $26,574, of
which $9,403 is unpaid. Trustees' Fees and Expenses. The Fund paid each Trustee not affiliated with
the Advisor retainer fees plus specified amounts for various committee
services and for the Board Chairperson and Vice Chairperson. In connection with the board consolidation on April 1, 2008, of the two DWS
Funds Boards of Trustees, certain Independent Board Members retired prior
to their normal retirement date, and received a one-time retirement benefit.
DIMA has agreed to reimburse the Funds for the cost of this benefit. During
the period ended July 31, 2008, the Fund paid its allocated portion of the
retirement benefit of $216,963 to the non-continuing Independent Board
Members, and the Fund was reimbursed by DIMA for this payment. C. Fee Reductions For the year ended July 31, 2008, the Advisor agreed to reimburse the Fund
$15,980, which represents a portion of the expected fee savings for the
Advisor through December 31, 2007 related to the outsourcing by the
Advisor of certain administrative services to an unaffiliated service provider. In addition, the Fund has entered into an arrangement with its custodian and
transfer agent whereby credits realized as a result of uninvested cash
balances are used to reduce a portion of the Fund's custodian expenses.
During the year ended July 31, 2008, the Fund's custodian fee was reduced
by $8,399 and $43,572, respectively, for custodian and transfer agent credits
earned. D. Line of Credit The Fund and other affiliated funds (the "Participants") share in a
$490 million revolving credit facility provided by a syndication of banks. The
Fund may borrow for temporary or emergency purposes, including the
meeting of redemption requests that otherwise might require the untimely
disposition of securities. The Participants are charged an annual
commitment fee which is allocated based on net assets, among each of the
Participants. Interest is calculated at the Federal Funds Rate plus
0.35 percent. The Fund may borrow up to a maximum of 33 percent of its
net assets under the agreement. E. Share Transactions The following table summarizes share and dollar activity in the Fund: Year Ended July 31, 2008
Year Ended July 31, 2007Shares
Dollars
Shares
DollarsShares soldDWS Cash
Investment Trust
Class A
130,298,085
$       130,298,085
33,176,005*
$       33,176,005*DWS Cash
Investment Trust
Class B
24,944,523
24,944,523
10,114,740*
10,114,740*DWS Cash
Investment Trust
Class C
45,727,254
45,727,254
18,751,781*
18,751,781*DWS Cash
Investment Trust
Class S
248,315,895
248,315,895
118,638,337*
118,638,337*DWS Money
Market Fund
2,193,035,206
2,193,035,206
2,340,378,887
2,340,378,887$    2,642,320,963

$    2,521,059,750Shares issued to shareholders in reinvestments of distributionsDWS Cash
Investment Trust
Class A
4,110,145
$       4,110,145
1,983,584*
$       1,983,584*DWS Cash
Investment Trust
Class B
786,983
786,983
510,141*
510,141*DWS Cash
Investment Trust
Class C
987,822
987,822
521,338*
521,338*DWS Cash
Investment Trust
Class S
20,756,255
20,756,255
10,998,964*
10,998,964*DWS Money
Market Fund
133,733,261
133,733,261
169,802,324
169,802,324$    160,374,466

$    183,816,351Shares redeemedDWS Cash
Investment Trust
Class A
(94,203,818)
$       (94,203,818)
(33,026,973)*
$       (33,026,973)*DWS Cash
Investment Trust
Class B
(32,135,197)
(32,135,197)
(17,137,386)*
(17,137,386)*DWS Cash
Investment Trust
Class C
(43,270,943)
(43,270,943)
(17,062,524)*
(17,062,524)*DWS Cash
Investment Trust
Class S
(292,377,778)
(292,377,778)
(143,441,306)*
(143,441,306)*DWS Money
Market Fund
(2,492,630,156)
(2,492,630,156)
(2,313,310,408)
(2,313,310,408)$    (2,954,617,892)

$    (2,523,978,597)Shares issued in tax-free reorganization**DWS Cash
Investment Trust
Class A

$       
114,174,585
$       114,088,239DWS Cash
Investment Trust
Class B


42,911,363
42,872,874DWS Cash
Investment Trust
Class C


36,802,322
36,779,775DWS Cash
Investment Trust
Class S


616,816,624
616,126,696$    

$    809,867,584Net increase (decrease)DWS Cash
Investment Trust
Class A
40,204,412
$       40,204,412
116,307,201*
$       116,220,855*DWS Cash
Investment Trust
Class B
(6,403,691)
(6,403,691)
36,398,858*
36,360,369*DWS Cash
Investment Trust
Class C
3,444,133
3,444,133
39,012,917*
38,990,370*DWS Cash
Investment Trust
Class S
(23,305,628)
(23,305,628)
603,012,619*
602,322,691*DWS Money
Market Fund
(165,861,689)
(165,861,689)
196,870,803
196,870,803$    (151,922,463)

$    990,765,088 * For the period from March 12, 2007 (commencement of operations) to July 31, 2007.  ** On March 12, 2007, DWS Cash Investment Trust was acquired by the Fund through a
tax-free reorganization (see Note F).  F. Acquisition of Assets On March 12, 2007, the Fund acquired all of the net assets of DWS Cash
Investment Trust pursuant to a plan of reorganization approved by
shareholders on January 25, 2007. The acquisition was accomplished by a
tax-free exchange of 114,174,585 Class A shares, 42,911,363 Class B shares,
36,802,322 Class C shares and 616,816,624 Class S shares of DWS Cash
Investment Trust outstanding on March 12, 2007. The net assets at that date
of $114,088,239 for Class A, $42,872,874 for Class B, $36,779,775 for Class
C and $616,126,696 for Class S of DWS Cash Investment Trust, were
combined with those of DWS Money Market Prime Series. The aggregate
net assets of the Fund immediately before the acquisition were
$3,530,283,595. The combined net assets of the Fund immediately
following the acquisition were $4,340,151,179. Report of Independent Registered
Public Accounting Firm To the Board of Trustees of DWS Money Funds and Shareholders of DWS
Money Market Prime Series: We have audited the accompanying statement of assets and liabilities of
DWS Money Market Prime Series (the "Fund"), a series of DWS Money
Funds (the "Trust"), including the portfolio of investments, as of July 31,
2008, and the related statement of operations for the year then ended, the
statement of changes in net assets for each of the two years in the period
then ended, and the financial highlights for each of the periods indicated
therein. These financial statements and financial highlights are the
responsibility of the Fund'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 the standards of the Public
Company Accounting Oversight Board (United States). Those standards
require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements and financial highlights are free of
material misstatement. We were not engaged to perform an audit of the
Fund's internal control over financial reporting. Our audits included
consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances, but
not for the purpose of expressing an opinion on the effectiveness of the
Fund's internal control over financial reporting. Accordingly, we express no
such opinion. An audit also includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements and
financial highlights, assessing the accounting principles used and significant
estimates made by management, and evaluating the overall financial
statement presentation. Our procedures included confirmation of securities
owned as of July 31, 2008, by correspondence with the custodian and
brokers. 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 DWS
Money Market Prime Series at July 31, 2008, the results of its operations
for the year then ended, the changes in its net assets for each of the two
years in the period then ended, and the financial highlights for each of the
periods indicated therein, in conformity with U.S. generally accepted
accounting principles. Boston, Massachusetts
September 15, 2008

mmf_eny0 Tax Information Please consult a tax advisor if you have questions about federal or state
income tax laws, or on how to prepare your tax returns. If you have specific
questions about your account, please call (800) 621-1048. Shareholder Meeting Results The Special Meeting of Shareholders of DWS Money Market Prime Series
(the "Fund") was held on March 31, 2008 at the offices of Deutsche Asset
Management, 345 Park Avenue, New York, NY 10154. The following matters
were voted upon by the shareholders of said Fund (the resulting votes are
presented below): 1.       Election of the Board of Trustees. Number of Votes:Trustee
For
WithheldJohn W. Ballantine
2,166,439,933.6103
134,980,040.5077Henry P. Becton, Jr.
2,160,974,069.9828
140,445,904.1352Dawn-Marie Driscoll
2,160,976,792.8760
140,443,181.2420Keith R. Fox
2,166,925,335.8775
134,494,638.2405Paul K. Freeman
2,166,311,231.2236
135,108,742.8944Kenneth C. Froewiss
2,166,327,252.8629
135,092,721.2551Richard J. Herring
2,166,207,187.8247
135,212,786.2933William McClayton
2,165,019,338.7838
136,400,635.3342Rebecca W. Rimel
2,162,212,834.1186
139,207,139.9994William N. Searcy, Jr.
2,165,758,922.8857
135,661,051.2323Jean Gleason Stromberg
2,162,684,743.0440
138,735,231.0740Robert H. Wadsworth
2,163,628,805.1041
137,791,169.0139Axel Schwarzer
2,164,358,410.9896
137,061,563.1284 2-A.     Approval of an Amended and Restated Investment Management
Agreement. Number of Votes:For
Against
Abstain1,912,315,394.9854
130,937,346.1026
170,822,946.0300 2-B.     Approval of a Subadvisor Approval Policy. Number of Votes:For
Against
Abstain1,906,606,723.4729
139,204,011.5362
168,264,952.1087 3-C.     Approval of a Revised Fundamental Investment Policy regarding the
Concentration for Funds That Will Concentrate in Bank Obligations. Number of Votes:For
Against
Abstain1,878,007,623.9250
153,482,720.5074
182,585,342.6856 3-F.    Approval of a Revised Fundamental Investment Policy Regarding
Commodities. Number of Votes:For
Against
Abstain1,870,222,684.2990
168,333,644.4335
175,519,358.3854 The meeting was reconvened on June 13, 2008, at which time the following
matter was voted upon by the shareholders (the resulting votes are
presented below): 5.       Approval of Amended and Restated Declarations of Trust. Number of Votes:For
Against
Abstain2,222,345,808.4579
153,206,865.3479
219,558,801.1682 Summary of Management Fee Evaluation by
Independent Fee Consultant October 26, 2007 Pursuant to an Order entered into by Deutsche Investment Management
Americas and affiliates (collectively, "DeAM") with the Attorney General of
New York, I, Thomas H. Mack, have been appointed the Independent Fee
Consultant for the DWS Scudder Funds. My duties include preparing an
annual written evaluation of the management fees DeAM charges the
Funds, considering among other factors the management fees charged by
other mutual fund companies for like services, management fees DeAM
charges other clients for like services, DeAM's costs of supplying services
under the management agreements and related profit margins, possible
economies of scale if a Fund grows larger, and the nature and quality of
DeAM's services, including fund performance. This report summarizes my
evaluation for 2007, including my qualifications, the evaluation process for
each of the DWS Scudder Funds, consideration of certain complex-level
factors, and my conclusions. Qualifications For more than 30 years I have served in various professional capacities
within the investment management business. I have held investment
analysis and advisory positions, including securities analyst, portfolio
strategist and director of investment policy with a large investment firm. I
have also performed business management functions, including business
development, financial management and marketing research and analysis. Since 1991, I have been an independent consultant within the asset
management industry. I have provided services to over 125 client
organizations, including investment managers, mutual fund boards, product
distributors and related organizations. Over the past several years I have
completed a number of assignments for mutual fund boards, specifically
including assisting boards with management contract renewal. I hold a Master of Business Administration degree, with highest honors,
from Harvard University; and Master of Science and Bachelor of Science
(highest honors) degrees from the University of California at Berkeley. I am
an independent director and audit committee financial expert for two
closed-end mutual funds, serve on the board of directors of a private market
research company, and have served in various leadership and financial
oversight capacities with non-profit organizations. Evaluation of Fees for each DWS Scudder Fund My work focused primarily on evaluating, fund-by-fund, the fees charged to
each of the 136 Fund portfolios in the DWS Scudder Fund family. For each
Fund, I considered each of the key factors mentioned above, as well as any
other relevant information. In doing so I worked closely with the Funds'
Independent Directors in their annual contract renewal process, as well as in
their approval of contracts for several new funds (documented separately). In evaluating each Fund's fees, I reviewed comprehensive materials provided
by or on behalf of DeAM, including expense information prepared by Lipper
Analytical, comparative performance information, profitability data, manager
histories, and other materials. I also accessed certain additional information
from the Lipper, Strategic Insight, and Morningstar databases and drew on
my industry knowledge and experience. To facilitate evaluating this considerable body of information, I prepared for
each Fund a document summarizing the key data elements in each area as
well as additional analytics discussed below. This made it possible to
consider each key data element in the context of the others. In the course of contract renewal, DeAM agreed to implement a number of
fee and expense adjustments requested by the Independent Directors
which will favorably impact future fees and expenses, and my evaluation
includes the effects of these changes. Fees and Expenses Compared with Other Funds The competitive fee and expense evaluation for each fund focused on two
primary comparisons: The Fund's contractual management fee (the advisory fee plus the
administration fee where applicable) compared with those of a group of
typically 12-15 funds in the same Lipper investment category (e.g. Large
Capitalization Growth) having similar distribution arrangements and being
of similar size. The Fund's total expenses compared with a broader universe of funds
from the same Lipper investment category and having similar distribution
arrangements. These two comparisons provide a view of not only the level of the fee
compared with funds of similar scale but also the total expense the Fund
bears for all the services it receives, in comparison with the investment
choices available in the Fund's investment category and distribution channel.
The principal figure-of-merit used in these comparisons was the subject
Fund's percentile ranking against peers. DeAM's Fees for Similar Services to Others DeAM provided management fee schedules for all of its US domiciled fund
and non-fund investment management accounts in any of the investment
categories where there is a DWS Scudder Fund. These similar products
included the other DWS Scudder Funds, non-fund pooled accounts,
institutional accounts and sub-advisory accounts. Using this information, I
calculated for each Fund the fee that would be charged to each similar
product, at the subject Fund's asset level. Evaluating information regarding non-fund products is difficult because there
are varying levels of services required for different types of accounts, with
mutual funds generally requiring considerably more regulatory and
administrative types of service as well as having more frequent cash flows
than other types of accounts. Also, while mutual fund fees for similar fund
products can be expected to be similar, there will be some differences due
to different pricing conditions in different distribution channels (e.g. retail
funds versus those used in variable insurance products), differences in
underlying investment processes and other factors. Costs and Profit Margins DeAM provided a detailed profitability analysis for each Fund. After making
some adjustments so that the presentation would be more comparable to
the available industry figures, I reviewed profit margins from investment
management alone, from investment management plus other fund services
(excluding distribution) provided to the Funds by DeAM (principally
shareholder services), and DeAM profits from all sources, including
distribution. A later section comments on overall profitability. Economies of Scale Economies of scale  an expected decline in management cost per dollar
of fund assets as fund assets grow  are very rarely quantified and
documented because of inherent difficulties in collecting and analyzing
relevant data. However, in virtually every investment category that I
reviewed, larger funds tend to have lower fees and lower total expenses
than smaller funds. To see how each DWS Scudder Fund compares with
this industry observation, I reviewed: The trend in Fund assets over the last five years and the accompanying
trend in total expenses. This shows if the Fund has grown and, if so,
whether total expense (management fees as well as other expenses)
have declined as a percent of assets. Whether the Fund has break-points in its management fee schedule, the
extent of the fee reduction built into the schedule and the asset levels
where the breaks take effect, and in the case of a sub-advised Fund how
the Fund's break-points compare with those of the sub-advisory fee
schedule. How the Fund's contractual fee schedule compares with trends in the
industry data. To accomplish this, I constructed a chart showing how
actual latest-fiscal-year contractual fees of the Fund and of other similar
funds relate to average fund assets, with the subject Fund's contractual
fee schedule superimposed. Quality of Service  Performance The quality-of-service evaluation focused on investment performance, which
is the principal result of the investment management service. Each Fund's
performance was reviewed over the past 1, 3, 5 and 10 years, as applicable,
and compared with that of other funds in the same investment category and
with a suitable market index. In addition, I calculated and reviewed risk-adjusted returns relative to an
index of similar mutual funds' returns and a suitable market index. The
risk-adjusted returns analysis provides a way of determining the extent to
which the Fund's return comparisons are mainly the product of investment
value-added (or lack thereof) or alternatively taking considerably more or less
risk than is typical in its investment category. I also received and considered the history of portfolio manager changes for
each Fund, as this provided an important context for evaluating the
performance results. Complex-Level Considerations While this evaluation was conducted mainly at the individual fund level,
there are some issues relating to the reasonableness of fees that can
alternatively be considered across the whole fund complex: I reviewed DeAM's profitability analysis for all DWS Scudder funds, with a
view toward determining if the allocation procedures used were
reasonable and how profit levels compared with public data for other
investment managers. I considered whether DeAM and affiliates receive any significant ancillary
or "fall-out" benefits that should be considered in interpreting the direct
profitability results. These would be situations where serving as the
investment manager of the Funds is beneficial to another part of the
Deutsche Bank organization. I considered how aggregated DWS Scudder Fund expenses had varied
over the years, by asset class and in the context of trends in asset levels. I reviewed the structure of the DeAM organization, trends in staffing
levels, and information on compensation of investment management and
other professionals compared with industry data. Findings Based on the process and analysis discussed above, which included
reviewing a wide range of information from management and external data
sources and considering among other factors the fees DeAM charges other
clients, the fees charged by other fund managers, DeAM's costs and profits
associated with managing the Funds, economies of scale, possible fall-out
benefits, and the nature and quality of services provided, in my opinion the
management fees charged the DWS Scudder Funds are reasonable. mmf_m0Thomas H. Mack Trustees and Officers The following table presents certain information regarding the Board
Members and Officers of the Trust as of July 31, 2008. Each Board
Member's year of birth is set forth in parentheses after his or her name.
Unless otherwise noted, (i) each Board Member has engaged in the
principal occupation(s) noted in the table for at least the most recent five
years, although not necessarily in the same capacity; and (ii) the address of
each Independent Board Member is c/o Dawn-Marie Driscoll, PO Box
100176, Cape Coral, FL 33904. Except as otherwise noted below, the term
of office for each Board Member is until the election and qualification of a
successor, or until such Board Member sooner dies, resigns, is removed or
as otherwise provided in the governing documents of the fund. Because the
fund does not hold an annual meeting of shareholders, each Board Member
will hold office for an indeterminate period. The Board Members may also
serve in similar capacities with other funds in the fund complex. The Length
of Time Served represents the year in which the Board Member joined the
board of one or more DWS funds now overseen by the Board. Independent Board MembersName, Year of
Birth, Position
with the Fund
and Length of
Time Served1
Business Experience and Directorships During the
Past Five Years
Number of
Funds in
DWS Fund
Complex
OverseenDawn-Marie
Driscoll (1946)Chairperson since
20042Board Member
since 1987
President, Driscoll Associates (consulting firm); Executive
Fellow, Center for Business Ethics, Bentley College; formerly,
Partner, Palmer & Dodge (1988-1990); Vice President of
Corporate Affairs and General Counsel, Filene's (1978-1988).
Directorships: Trustee of eight open-end mutual funds
managed by Sun Capital Advisers, Inc. (since 2007); Director of
ICI Mutual Insurance Company (since 2007); Advisory Board,
Center for Business Ethics, Bentley College; Trustee,
Southwest Florida Community Foundation (charitable
organization). Former Directorships: Investment Company
Institute (audit, executive, nominating committees) and
Independent Directors Council (governance, executive
committees)
133Paul K. Freeman
(1950)Vice Chairperson
since 2008Board Member
since 1993
Consultant, World Bank/Inter-American Development Bank;
formerly, Project Leader, International Institute for Applied
Systems Analysis (1998-2001); Chief Executive Officer, The
Eric Group, Inc. (environmental insurance) (1986-1998)
133John W.
Ballantine (1946)Board Member
since 1999
Retired; formerly, Executive Vice President and Chief Risk
Management Officer, First Chicago NBD Corporation/The First
National Bank of Chicago (1996-1998); Executive Vice
President and Head of International Banking (1995-1996).
Directorships: Healthways, Inc. (provider of disease and care
management services); Portland General Electric (utility
company); Stockwell Capital Investments PLC (private equity).
Former Directorships: First Oak Brook Bancshares, Inc. and
Oak Brook Bank
133Henry P. Becton,
Jr. (1943)Board Member
since 1990
Vice Chair, WGBH Educational Foundation. Directorships:
Association of Public Television Stations; Becton Dickinson
and Company3 (medical technology company); Belo
Corporation3 (media company); Boston Museum of Science;
Public Radio International. Former Directorships: American
Public Television; Concord Academy; New England Aquarium;
Mass. Corporation for Educational Telecommunications;
Committee for Economic Development; Public Broadcasting
Service
133Keith R. Fox
(1954)Board Member
since 1996
Managing General Partner, Exeter Capital Partners (a series of
private equity funds). Directorships: Progressive Holding
Corporation (kitchen goods importer and distributor); Natural
History, Inc. (magazine publisher); Box Top Media Inc.
(advertising); The Kennel Shop (retailer)
133Kenneth C.
Froewiss (1945)Board Member
since 2001
Clinical Professor of Finance, NYU Stern School of Business
(1997-present); Member, Finance Committee, Association for
Asian Studies (2002-present); Director, Mitsui Sumitomo
Insurance Group (US) (2004-present); prior thereto, Managing
Director, J.P. Morgan (investment banking firm) (until 1996)
133Richard J. Herring
(1946)Board Member
since 1990
Jacob Safra Professor of International Banking and Professor,
Finance Department, The Wharton School, University of
Pennsylvania (since July 1972); Co-Director, Wharton Financial
Institutions Center (since July 2000); Director, Japan Equity
Fund, Inc. (since September 2007), Thai Capital Fund, Inc.
(since September 2007), Singapore Fund, Inc. (since
September 2007). Formerly, Vice Dean and Director, Wharton
Undergraduate Division (July 1995-June 2000); Director,
Lauder Institute of International Management Studies (July
2000-June 2006)
133William
McClayton (1944)Board Member
since 2004
Managing Director, Diamond Management & Technology
Consultants, Inc. (global management consulting firm)
(2001-present); Directorship: Board of Managers, YMCA of
Metropolitan Chicago; formerly: Senior Partner, Arthur
Andersen LLP (accounting) (1966-2001); Trustee, Ravinia
Festival
133Rebecca W.
Rimel (1951)Board Member
since 1995
President and Chief Executive Officer, The Pew Charitable
Trusts (charitable organization) (1994 to present); Trustee,
Thomas Jefferson Foundation (charitable organization) (1994 to
present); Trustee, Executive Committee, Philadelphia Chamber
of Commerce (2001-2007); Trustee, Pro Publica
(2007-present) (charitable organization). Formerly, Executive
Vice President, The Glenmede Trust Company (investment
trust and wealth management) (1983-2004); Board Member,
Investor Education (charitable organization) (2004-2005);
Director, Viasys Health Care3 (January 2007-June 2007)
133William N. Searcy,
Jr. (1946)Board Member
since 1993
Private investor since October 2003; Trustee of eight open-end
mutual funds managed by Sun Capital Advisers, Inc. (since
October 1998). Formerly, Pension & Savings Trust Officer,
Sprint Corporation3 (telecommunications) (November
1989-September 2003)
133Jean Gleason
Stromberg (1943)Board Member
since 1997
Retired. Formerly, Consultant (1997-2001); Director, US
Government Accountability Office (1996-1997); Partner,
Fulbright & Jaworski, L.L.P. (law firm) (1978-1996).
Directorships: The William and Flora Hewlett Foundation;
Service Source, Inc. Former Directorships: Mutual Fund
Directors Forum (2002-2004), American Bar Retirement
Association (funding vehicle for retirement plans) (1987-1990
and 1994-1996)
133Robert H.
Wadsworth(1940)Board Member
since 1999
President, Robert H. Wadsworth & Associates, Inc. (consulting
firm) (1983 to present); Director, The Phoenix Boys Choir
Association
136 Interested Board MemberName, Year of
Birth, Position
with the Fund
and Length of
Time Served1
Business Experience and Directorships During the
Past Five Years
Number of
Funds in
Fund
Complex
OverseenAxel Schwarzer4(1958)Board Member
since 2006
Managing Director5, Deutsche Asset Management; Head of
Deutsche Asset Management Americas; CEO of DWS Investments;
formerly, board member of DWS Investments, Germany
(1999-2005); formerly, Head of Sales and Product Management for
the Retail and Private Banking Division of Deutsche Bank in
Germany (1997-1999); formerly, various strategic and operational
positions for Deutsche Bank Germany Retail and Private Banking
Division in the field of investment funds, tax driven instruments and
asset management for corporates (1989-1996)
133 Officers6Name, Year of Birth,
Position with the Fund and
Length of Time Served7
Principal Occupation(s) During Past 5 Years and Other
Directorships HeldMichael G. Clark8 (1965)President, 2006-present
Managing Director5, Deutsche Asset Management
(2006-present); President of DWS family of funds; Director, ICI
Mutual Insurance Company (since October 2007); formerly,
Director of Fund Board Relations (2004-2006) and Director of
Product Development (2000-2004), Merrill Lynch Investment
Managers; Senior Vice President Operations, Merrill Lynch
Asset Management (1999-2000)John Millette9 (1962)Vice President and Secretary,
1999-present
Director5, Deutsche Asset ManagementPaul H. Schubert8 (1963)Chief Financial Officer,
2004-presentTreasurer, 2005-present
Managing Director5, Deutsche Asset Management (since July
2004); formerly, Executive Director, Head of Mutual Fund
Services and Treasurer for UBS Family of Funds (1998-2004);
Vice President and Director of Mutual Fund Finance at UBS
Global Asset Management (1994-1998)Patricia DeFilippis10(1963)Assistant Secretary,
2005-present
Vice President, Deutsche Asset Management (since June
2005); formerly, Counsel, New York Life Investment
Management LLC (2003-2005); legal associate, Lord, Abbett &
Co. LLC (1998-2003)Elisa D. Metzger10 (1962)Assistant Secretary
2005-present
Director5, Deutsche Asset Management (since September
2005); formerly, Counsel, Morrison and Foerster LLP
(1999-2005)Caroline Pearson9 (1962)Assistant Secretary,
1997-present
Managing Director5, Deutsche Asset ManagementPaul Antosca9 (1957)Assistant Treasurer,
2007-present
Director5, Deutsche Asset Management (since 2006); Vice
President, The Manufacturers Life Insurance Company (U.S.A.)
(1990-2006)Jack Clark9 (1967)Assistant Treasurer,
2007-present
Director5, Deutsche Asset Management (since 2007);
formerly, Vice President, State Street Corporation (2002-2007)Kathleen Sullivan D'Eramo9
(1957)Assistant Treasurer,
2003-present
Director5, Deutsche Asset ManagementDiane Kenneally9(1966)Assistant Treasurer,
2007-present
Director5, Deutsche Asset ManagementJason Vazquez10 (1972)Anti-Money Laundering
Compliance Officer,
2007-present
Vice President, Deutsche Asset Management (since 2006);
formerly, AML Operations Manager for Bear Stearns
(2004-2006), Supervising Compliance Principal and Operations
Manager for AXA Financial (1999-2004)Robert Kloby10 (1962)Chief Compliance Officer,
2006-present
Managing Director5, Deutsche Asset Management
(2004-present); formerly, Chief Compliance Officer/Chief Risk
Officer, Robeco USA (2000-2004); Vice President, The
Prudential Insurance Company of America (1988-2000);
E.F. Hutton and Company (1984-1988)J. Christopher Jackson10
(1951)Chief Legal Officer,
2006-present
Director5, Deutsche Asset Management (2006-present);
formerly, Director, Senior Vice President, General Counsel and
Assistant Secretary, Hansberger Global Investors, Inc.
(1996-2006); Director, National Society of Compliance
Professionals (2002-2005) (2006-2009) 1 The length of time served represents the year in which the Board Member joined the board
of one or more DWS funds currently overseen by the Board.  2 Represents the year Ms. Driscoll was first appointed Chairperson of certain DWS funds.  3 A publicly held company with securities registered pursuant to Section 12 of the Securities
Exchange Act of 1934.  4 The mailing address of Axel Schwarzer is c/o Deutsche Investment Management Americas
Inc., 345 Park Avenue, New York, New York 10154. Mr. Schwarzer is an interested Board
Member by virtue of his positions with Deutsche Asset Management. As an interested
person, Mr. Schwarzer receives no compensation from the funds.  5 Executive title, not a board directorship.  6 As a result of their respective positions held with the Advisor, these individuals are
considered "interested persons" of the Advisor within the meaning of the 1940 Act.
Interested persons receive no compensation from the funds.  7 The length of time served represents the year in which the officer was first elected in such
capacity for one or more DWS funds.  8 Address: 345 Park Avenue, New York, New York 10154.  9 Address: One Beacon Street, Boston, MA 02108.  10 Address: 280 Park Avenue, New York, New York 10017.  The fund's Statement of Additional Information ("SAI") includes additional information about
the Board Members. The SAI is available, without charge, upon request. If you would like to
request a copy of the SAI, you may do so by calling the following toll-free number:
(800) 621-1048. Account Management Resources For More
Information
The automated telephone system allows you to access personalized
account information and obtain information on other DWS funds using
either your voice or your telephone keypad. Certain account types
within DWS Cash Investment Trust Classes A, B, C and S also have
the ability to purchase, exchange or redeem shares using this system.For more information, contact your financial advisor. You may also
access our automated telephone system or speak with a DWS
Investments representative by calling the appropriate number below:For shareholders of DWS Cash Investment Trust Classes A, B and
C and DWS Money Market Fund:
(800) 621-1048For shareholders of DWS Cash Investment Trust Class S:
(800) 728-3337Web Site
www.dws-investments.com
View your account transactions and balances, trade shares, monitor
your asset allocation, and change your address, 24 hours a day.Obtain prospectuses and applications,blank forms, interactive
worksheets, news about DWS funds, subscription to fund updates by
e-mail, retirement planning information, and more.Written
Correspondence
DWS Investments
PO Box 219151
Kansas City, MO 64121-9151Proxy Voting
The fund's policies and procedures for voting proxies for portfolio
securities and information about how the fund voted proxies related to
its portfolio securities during the 12-month period endedJune 30are
available on our Web site  www.dws-investments.com (click on
"proxy voting"at the bottom of the page)  or on the SEC's Web site
 www.sec.gov. To obtain a written copy of the fund's policies and
procedures without charge, upon request, call us toll free at (800)
621-1048.Principal
Underwriter
If you have questions, comments or complaints, contact:DWS Investments Distributors, Inc.
222 South Riverside Plaza
Chicago, IL 60606-5808(800) 621-1148 Nasdaq
Symbol
CUSIP
Number
Fund
NumberDWS Money Market Fund
KMMXX
23339A  101
6DWS Cash Investment Trust Class A
DOAXX
23339A  408
421DWS Cash Investment Trust Class B
DOBXX
23339A  507
621DWS Cash Investment Trust Class C
DOCXX
23339A  606
721DWS Cash Investment Trust Class S
DOSXX
23339A  705
2021 Notes Notes Notes Notes mmf_backcover0


ITEM 2.
        CODE OF ETHICSAs of the end of the period, July 31, 2008, DWS Money Market Prime Series has a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Principal Executive Officer and Principal Financial Officer.

There have been no amendments to, or waivers from, a provision of the code of ethics during the period covered by this report that would require disclosure under Item 2.

A copy of the code of ethics is filed as an exhibit to this Form N-CSR.ITEM 3.
        AUDIT COMMITTEE FINANCIAL EXPERTThe Funds audit committee is comprised solely of trustees who are independent (as such term has been defined by the Securities and Exchange Commission (SEC) in regulations implementing Section 407 of the Sarbanes-Oxley Act (the Regulations)). The Funds Board of Trustees has determined that there are several audit committee financial experts (as such term has been defined by the Regulations) serving on the Funds audit committee including Mr. William McClayton, the chair of the Funds audit committee.  The SEC has stated that an audit committee financial expert is not an expert for any purpose, including for purposes of Section 11 of the Securities Act of 1933 and the designation or identification of a person as an audit committee
financial expert pursuant to this Item 3 of Form N-CSR does not impose on such person any duties, obligations or liability that are greater than the duties, obligations and liability imposed on such person as a member of the audit committee and board of directors in the absence of such designation or identification. In accordance with New York Stock Exchange requirements, the Board believes that all members of the Funds audit committee are financially literate, as such qualification is interpreted by the Board in its business judgment, and that at least one member of the audit committee has accounting or related financial management expertise.ITEM 4.
        PRINCIPAL ACCOUNTANT FEES AND SERVICES
  DWS MONEY MARKET PRIME SERIES FORM N-CSR DISCLOSURE RE: AUDIT FEES The following table shows the amount of fees that Ernst & Young LLP (E&Y), the Funds Independent Registered Public Accountant, billed to the Fund during the Funds last two fiscal years.  The Audit Committee approved in advance all audit services and non-audit services that E&Y provided to the Fund. The Audit Committee has delegated certain pre-approval responsibilities to its Chairman (or, in his absence, any other member of the Audit Committee). Services that the Funds Independent Registered Public Accountant Billed to the Fund Fiscal YearEndedJuly 31,
        Audit Fees Billed to Fund
        Audit-RelatedFees Billed to Fund
        Tax Fees Billed to Fund
        AllOther Fees Billed to Fund2008
        $59,068
        $0
        $6,563
        $02007
        $47,645
        $0
        $6,497
        $0
  The above "Tax Fees" were billed for professional services rendered for tax return preparation. 
  Services that the Funds Independent Registered Public Accountant Billed to the Adviser and Affiliated Fund Service Providers The following table shows the amount of fees billed by E&Y to Deutsche Investment Management Americas, Inc. (DeIM or the Adviser), and any entity controlling, controlled by or under common control with DeIM (Control Affiliate) that provides ongoing services to the Fund (Affiliated Fund Service Provider), for engagements directly related to the Funds operations and financial reporting, during the Funds last two fiscal years.  Fiscal YearEndedJuly 31,
        Audit-RelatedFees Billedto Adviser and Affiliated Fund Service Providers
        Tax Fees Billed to Adviser and Affiliated Fund Service Providers
        AllOther Fees Billed to Adviser and Affiliated Fund Service Providers2008
        $0
        $402,000
        $02007
        $262,000
        $466,614
        $0
  The Audit-Related Fees were billed for services in connection with agreed upon procedures related to fund mergers and the above Tax Fees were billed in connection with tax compliance services and agreed upon procedures. Non-Audit Services The following table shows the amount of fees that E&Y billed during the Funds last two fiscal years for non-audit services. The Audit Committee pre-approved all non-audit services that E&Y provided to the Adviser and any Affiliated Fund Service Provider that related directly to the Funds operations and financial reporting. The Audit Committee requested and received information from E&Y about any non-audit services that E&Y rendered during the Funds last fiscal year to the Adviser and any Affiliated Fund Service Provider.  The Committee considered this information in evaluating E&Ys independence.  Fiscal YearEndedJuly 31,
        TotalNon-Audit Fees Billed to Fund
(A)
        Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Fund)
(B)
        Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements)
(C)
        Total of (A), (B)and (C)2008
        $6,563
        $402,000
        $1,674,733
        $2,083,2962007
        $6,497
        $466,614
        $1,319,326
        $1,792,437
   All other engagement fees were billed for services in connection with internal control reviews, agreed upon procedures and tax compliance for DeIM and other related entities that provide support for the operations of the fund.  *** 
 In connection with the audit of the 2007 and 2008 financial statements, the Fund entered into an engagement letter with E&Y.  The terms of the engagement letter required by E&Y, and agreed to by the Audit Committee, include provisions in which the parties consent to the sole jurisdiction of federal courts in New York, Boston or the Northern District of Illinois, as well as a waiver of right to a trial by jury and an exclusion of punitive damages.  *** E&Y advised the Funds Audit Committee that certain arrangements between the Ernst & Young member firm in Germany (E&Y Germany) and Deutsche Bank AG (DB) had been determined to be inconsistent with the SEC auditor independence rules.  DB is within the Investment Company Complex (as defined by SEC rules) and therefore covered by the SEC auditor independence rules applicable to the Fund.  In 2006 and 2007, DB provided standard overdraft protection on a depository account and a guarantee of certain lease deposits to E&Y Germany.  E&Y advised the Audit Committee that while neither of these arrangements was ever utilized by E&Y Germany, they could constitute lending type arrangements in violation of Rule 2-01 of Regulation S-X.  (Rule 2-01(c)(1)(ii)(A) provides that an accountant is not independent when an accounting firm has a loan
to or from an audit client.)  E&Y advised the Audit Committee that E&Y believes its independence has not been impacted as it relates to the audits of the Fund.  In reaching this conclusion, E&Y noted a number of factors, including that neither of the arrangements was ever utilized and, accordingly, E&Y Germany never had amounts outstanding to DB, these arrangements were immaterial to E&Y Germany and DB and the E&Y professionals responsible for the Funds audits were not aware of these arrangements.  E&Y informed the Audit Committee that E&Y Germany has cancelled the overdraft arrangements and has terminated the guarantee on the lease deposits.  ITEM 5.
        AUDIT COMMITTEE OF LISTED REGISTRANTSNot ApplicableITEM 6.
        SCHEDULE OF INVESTMENTSNot ApplicableITEM 7.
        DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIESNot applicable.ITEM 8.
        PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIESNot applicable.
  ITEM 9.
        PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERSNot Applicable.
  ITEM 10.
        SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERSThe primary function of the Nominating and Governance Committee is to identify and recommend individuals for membership on the Board and oversee the administration of the Board Governance Guidelines. Shareholders may recommend candidates for Board positions by forwarding their correspondence by U.S. mail or courier service to Chairman of the Board, P.O. Box 100176, Cape Coral, FL 33910.
  
  ITEM 11.
        CONTROLS AND PROCEDURES(a)          The Chief Executive and Financial Officers concluded that the Registrants Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.(b)          There have been no changes in the registrants internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal controls over financial reporting.ITEM 12.
        EXHIBITS(a)(1)     Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.(a)(2)     Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.(b)         Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.


Form N-CSR Item F  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:
        DWS Money Market Prime Series, a series of DWS Money Funds
  By:
        /s/Michael G. Clark
 Michael G. Clark
 President  Date:
        September 29, 2008
   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.  Registrant:
        DWS Money Market Prime Series, a series of DWS Money Funds
  By:
        /s/Michael G. Clark
 Michael G. Clark
 President  Date:
        September 29, 2008
   By:
        /s/Paul Schubert
 Paul Schubert
 Chief Financial Officer and Treasurer  Date:
        September 29, 2008