Dreyfus California Intermediate Municipal Bond Fund N-CSR Certified annual shareholder report (management investment company)

UNITED STATES 

SECURITIES AND EXCHANGE COMMISSION 

Washington, D.C. 20549 

FORM N-CSR 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT 

INVESTMENT COMPANIES 

Investment Company Act file number 811-6610 

Dreyfus California Intermediate Municipal Bond Fund 

(Exact name of Registrant as specified in charter) 

c/o The Dreyfus Corporation 

200 Park Avenue 

New York, New York 10166 

(Address of principal executive offices) (Zip code) 

Mark N. Jacobs, Esq. 

200 Park Avenue 

New York, New York 10166 

(Name and address of agent for service) 

Registrant's telephone number, including area code: (212) 922-6000 

Date of fiscal year end:	3/31
Date of reporting period:	3/31/06

		FORM N-CSR
Item 1.	Reports to Stockholders.

Dreyfus
California	Intermediate
Municipal	Bond Fund

ANNUAL REPORT March 31, 2006

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The views expressed in this report reflect those of the portfolio manager only through the end of the period covered and do not necessarily represent the views of Dreyfus or any other person in the Dreyfus organization. Any such views are subject to change at any time based upon market or other conditions and Dreyfus disclaims any responsibility to update such views.These views may not be relied on as investment advice and, because investment decisions for a Dreyfus fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Dreyfus fund.

Not FDIC-Insured • Not Bank-Guaranteed • May Lose Value

Contents
	THE FUND
2	Letter from the Chairman
3	Discussion of Fund Performance
6	Fund Performance
7	Understanding Your Fund’s Expenses
7	Comparing Your Fund’s Expenses
With Those of Other Funds
8	Statement of Investments
20	Statement of Assets and Liabilities
21	Statement of Operations
22	Statement of Changes in Net Assets
23	Financial Highlights
24	Notes to Financial Statements
29	Report of Independent Registered
	Public Accounting Firm
30	Important Tax Information
31	Board Members Information
33	Officers of the Fund
FOR MORE INFORMATION
	Back Cover

The Fund

Dreyfus California Intermediate 

Municipal Bond Fund 

LETTER FROM THE CHAIRMAN

Dear Shareholder:

We are pleased to present this annual report for Dreyfus California Intermediate Municipal Bond Fund, covering the 12-month period from April 1, 2005, through March 31, 2006.

Although short-term interest rates continued to rise steadily over the past six months, municipal bond yields fell modestly, supporting their prices, primarily due to robust investor demand for a more limited supply of newly issued securities. However, longer-maturity bonds generally fared better than short- and intermediate-term securities. As a result, yield differences between two-year and 30-year high-grade municipal bonds narrowed to slightly more than half a percentage point as of the end of the reporting period, which was steeper than the U.S. Treasury yield curve but still considerably narrower than historical norms.

Recent economic data have been mixed and inflation appeared to remain contained at the end of the first quarter, conditions that could continue to support longer-term bond prices. In addition, our chief economist, Richard Hoey, currently expects continued economic growth, with any slack in consumer spending likely to be taken up by corporate capital investment, exports and non-residential construction. However, if yield differences among tax-exempt bonds widen and move closer to historical averages, shorter maturities may begin to fare better than longer maturities.As always, we encourage you to talk with your financial advisor to discuss investment options and portfolio allocations that may be suitable for you in this environment.

For more information about how the fund performed, as well as information on market perspectives, we have provided a Discussion of Fund Performance given by the fund’s portfolio manager.

Thank you for your continued confidence and support.

2

DISCUSSION OF FUND PERFORMANCE

Monica S. Wieboldt, Senior Portfolio Manager

How did Dreyfus California Intermediate Municipal Bond Fund 

perform relative to its benchmark? 

For the 12-month period ended March 31, 2006, the fund achieved a total return of 2.75% .¹ In comparison, the Lehman Brothers 7-Year Municipal Bond Index (the “Index”), the fund’s benchmark, achieved a total return of 2.63% for the same period.² In addition, the average total return for all funds reported in the Lipper California Intermediate Municipal Debt Funds category was 2.45% .³

The fund produced a higher return than its benchmark and Lipper category average, primarily due to our focus on longer-maturity bonds. Zero-coupon and lower-rated bonds also contributed positively to the fund’s performance.

What is the fund’s investment approach?

The fund’s goal is to seek as high a level of federal and California state tax-exempt income as is consistent with the preservation of capital.To pursue its goal, the fund normally invests substantially all of its assets in municipal bonds that provide income exempt from federal and California state personal income taxes. The dollar-weighted average maturity of the fund’s portfolio ranges between three and 10 years. Although the fund currently intends to invest only in investment-grade municipal bonds, or the unrated equivalent as determined by Dreyfus, it has the ability to invest up to 20% of its assets in municipal bonds of below investment-grade credit quality.

We may buy and sell bonds based on credit quality, market outlook and yield potential. In selecting municipal bonds for investment, we may assess the current interest-rate environment and the municipal bond’s potential volatility in different rate environments.We focus on bonds with the potential to offer attractive current income, typically looking for bonds that can provide consistently attractive current

The Fund 3

DISCUSSION OF FUND PERFORMANCE (continued)

yields or that are trading at competitive market prices.A portion of the fund’s assets may be allocated to “discount” bonds, which are bonds that sell at a price below their face value, or to “premium” bonds, which are bonds that sell at a price above their face value.The fund’s allocation to either discount bonds or to premium bonds will change along with our changing views of the current interest-rate and market environment.We also may look to select bonds that are most likely to obtain attractive prices when sold.

What other factors influenced the fund’s performance?

The reporting period generally continued to be characterized by rising short-term interest rates and surprisingly stable longer-term rates. The Federal Reserve Board (the “Fed”) implemented eight more increases in the overnight federal funds rate, driving it to 4.75% by the reporting period’s end. Short-term municipal bond yields rose along with the Fed’s interest-rate target. Longer-term bond yields climbed less than short-term yields, contributing to a further narrowing of yield differences (known as “spreads”) between the short and long ends of the market’s maturity range. In fact, the market ended the reporting period with a spread of just 88 basis points between high-grade municipal bonds with two-year maturities and similarly rated 30-year municipal bonds.

In addition, the fund’s results were influenced by supply-and-demand factors. The steadily growing U.S. economy benefited California and most other states, helping to reduce unemployment and boost corporate and personal incomes. Consequently, California enjoyed higher tax revenues, which helped reduce budget pressures.At the same time, demand for California securities remained robust from individual and institutional investors, putting downward pressure on yields and supporting prices.

In this environment, we generally maintained strategy of emphasized bonds with maturities toward the longer end of the range. Conversely, we maintained relatively light exposure to securities in the two- to five-year area. These strategies enabled the fund to participate more fully in strength among longer-term bonds while maintaining an

4

appropriate weighted average maturity for an intermediate-term fund. In addition, the fund benefited from our security selection strategy, in which we allocated a portion of the fund’s assets to higher-yielding bonds. These securities gained value when investors seeking higher levels of tax-exempt income apparently became more willing in the strengthening economy to assume the credit risks that lower-rated bonds typically entail. In addition, the fund received strong contributions from zero-coupon bonds and bonds that were “pre-refunded” by their issuers during the reporting period.

What is the fund’s current strategy?

Although some analysts have forecast the impending end of the Fed’s credit tightening campaign, recent strong economic data suggest to us that some additional rate-hikes may be expected over the months ahead. Therefore, if the yield curve continues to flatten, we may shift our focus toward shorter-term maturities. Such an environment could enable us to reduce the fund’s average duration without a significant impact on income. However, we are carefully watching the economy and market conditions in California, and we are prepared to adjust our strategies when we see more definite evidence that short-term interest rates have peaked.

April 17, 2006

1	Total return includes reinvestment of dividends and any capital gains paid. Past performance is no
	guarantee of future results. Share price, yield and investment return fluctuate such that upon
	redemption, fund shares may be worth more or less than their original cost. Income may be subject
	to state and local taxes for non-California residents, and some income may be subject to the federal
	alternative minimum tax (AMT) for certain investors. Capital gains, if any, are fully taxable.
	Return figure provided reflects the absorption of certain fund expenses by The Dreyfus
	Corporation pursuant to an undertaking in effect that may be extended, terminated or modified at
	any time. Had these expenses not been absorbed, the fund’s return would have been lower.
2	SOURCE: LIPPER INC. — Reflects reinvestment of dividends and, where applicable, capital
	gain distributions.The Lehman Brothers 7-Year Municipal Bond Index is an unmanaged total
	return performance benchmark for the investment-grade, geographically unrestricted 7-year tax-
	exempt bond market, consisting of municipal bonds with maturities of 6-8 years. Index returns do
	not reflect the fees and expenses associated with operating a mutual fund.
3	Source: Lipper Inc.

The Fund 5

FUND PERFORMANCE

Average Annual Total Returns	as of 3/31/06
		1 Year	5 Years	10 Years
Fund		2.75%	4.08%	4.78%

^† Source: Lipper Inc. 

Past performance is not predictive of future performance.The fund’s performance shown in the graph and table does not 

reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. 

The above graph compares a $10,000 investment made in Dreyfus California Intermediate Municipal Bond Fund on 

3/31/96 to a $10,000 investment made in the Lehman Brothers 7-Year Municipal Bond Index (the “Index”) on that 

date. All dividends and capital gain distributions are reinvested. 

The fund invests primarily in California municipal securities and maintains a portfolio with a weighted average maturity 

ranging between 3 and 10 years.The fund’s performance shown in the line graph takes into account fees and expenses. 

The Index is not limited to investments principally in California municipal obligations and does not take into account 

charges, fees and other expenses.The Index, unlike the fund, is an unmanaged, total return performance benchmark for 

the investment-grade, geographically unrestricted 7-year tax-exempt bond market, consisting of municipal bonds with 

maturities of 6-8 years.These factors can contribute to the Index potentially outperforming or underperforming the fund. 

Further information relating to fund performance, including expense reimbursements, if applicable, is contained in the 

Financial Highlights section of the prospectus and elsewhere in this report. 

6

UNDERSTANDING YOUR FUND’S EXPENSES(Unaudited)

As a mutual fund investor, you pay ongoing expenses, such as management fees and other expenses. Using the information below, you can estimate how these expenses affect your investment and compare them with the expenses of other funds.You also may pay one-time transaction expenses, including sales charges (loads) and redemption fees, which are not shown in this section and would have resulted in higher total expenses. For more information, see your fund’s prospectus or talk to your financial adviser.

Review your fund’s expenses

The table below shows the expenses you would have paid on a $1,000 investment in Dreyfus California Intermediate Municipal Bond Fund from October 1, 2005 to March 31, 2006. It also shows how much a $1,000 investment would be worth at the close of the period, assuming actual returns and expenses.

Expenses and Value of a $1,000 Investment
assuming actual returns for the six months ended March 31, 2006
Expenses paid per $1,000 †	$ 3.80
Ending value (after expenses)	$1,005.80

COMPARING YOUR FUND’S EXPENSES 

WITH THOSE OF OTHER FUNDS (Unaudited) 

Using the SEC’s method to compare expenses

The Securities and Exchange Commission (SEC) has established guidelines to help investors assess fund expenses. Per these guidelines, the table below shows your fund’s expenses based on a $1,000 investment, assuming a hypothetical 5% annualized return. You can use this information to compare the ongoing expenses (but not transaction expenses or total cost) of investing in the fund with those of other funds.All mutual fund shareholder reports will provide this information to help you make this comparison. Please note that you cannot use this information to estimate your actual ending account balance and expenses paid during the period.

Expenses and Value of a $1,000 Investment
assuming a hypothetical 5% annualized return for the six months ended March 31, 2006
Expenses paid per $1,000 †	$ 3.83
Ending value (after expenses)	$1,021.14
† Expenses are equal to the fund’s annualized expense ratio of .76%, multiplied by the average account value over the
period, multiplied by 182/365 (to reflect the one-half year period).

The Fund 7

STATEMENT OF INVESTMENTS 

March 31, 2006 

Long-Term Municipal	Coupon	Maturity	Principal
Investments—95.2%	Rate (%)	Date	Amount ($)	Value ($)
California—82.1%
ABAG Finance Authority for
Nonprofit Corporations, COP
(Episcopal Homes Foundation)	5.25	7/1/10	3,500,000	3,592,295
ABAG Finance Authority for
Nonprofit Corporations,
Revenue (San Diego
Hospital Association)	5.38	3/1/21	4,000,000	4,194,120
Alameda Corridor Transportation
Authority, Revenue
(Insured; MBIA)	5.13	10/1/16	2,000,000	2,112,720
Alameda County,
COP (Insured; MBIA)	5.38	12/1/12	2,000,000	2,176,240
Burbank,
Wastewater Treatment
Revenue (Insured; AMBAC)	5.00	6/1/18	895,000	942,435
Burbank,
Wastewater Treatment
Revenue (Insured; AMBAC)	5.00	6/1/19	945,000	992,420
California,
Economic Recovery Bonds	5.25	1/1/10	3,000,000	3,166,080
California,
Economic Recovery Bonds	5.00	7/1/12	1,750,000	1,871,275
California,
Economic Recovery Bonds	5.25	7/1/14	2,000,000	2,179,220
California,
GO	5.00	8/1/22	2,000,000	2,085,480
California,
GO (Various Purpose)	5.00	6/1/11	2,000,000	2,108,640
California,
GO (Various Purpose)	5.00	6/1/16	2,000,000	2,118,560
California,
GO (Veterans)	5.35	12/1/16	2,000,000	2,072,160
California Department of Water
Resources, Power Supply
Revenue (Insured; FGIC)	5.13	5/1/12	2,000,000 a	2,168,560
California Department of Water
Resources, Water System
Revenue (Central Valley Project)	5.50	12/1/11	225,000 a	245,979
California Department of Water
Resources, Water System
Revenue (Central Valley Project)	5.50	12/1/15	1,275,000	1,378,352

8

Long-Term Municipal	Coupon	Maturity	Principal
Investments (continued)	Rate (%)	Date	Amount ($)	Value ($)
California (continued)
California Department of Water
Resources, Water System
Revenue (Central Valley
Project) (Insured; FGIC)	5.50	12/1/15	2,000,000	2,241,500
California Department of Water
Resources, Water System
Revenue (Central Valley
Project) (Insured; MBIA)	5.00	12/1/16	1,750,000	1,869,997
California Health Facilities
Financing Authority, Revenue
(Cedars-Sinai Medical Center)	5.00	11/15/19	2,000,000	2,078,100
California Health Facilities
Financing Authority, Revenue
(Health Facility-Adventist
Health Systems)	5.00	3/1/17	870,000	899,232
California Health Facilities
Financing Authority, Revenue
(Health Facility-Adventist
Health Systems)	5.00	3/1/18	1,000,000	1,031,920
California Health Facilities
Financing Authority, Revenue
(Stanford Hospital and Clinics)	5.00	11/15/17	2,000,000	2,079,000
California Infrastructure and
Economic Development Bank,
Revenue (Bay Area Toll
Bridges-1st Lien) (Insured; FSA)	5.25	7/1/17	2,000,000	2,160,440
California Pollution Control
Financing Authority, PCR
(San Diego Gas and Electric Co.)
(Insured; MBIA)	5.90	6/1/14	2,000,000	2,262,400
California Public Works Board,
LR (Department of Health
Services-Richmond Lab)
(Insured; XLCA)	5.00	11/1/19	1,680,000	1,768,133
California Public Works Board,
LR (Department of Health
Services-Richmond Lab)
(Insured; XLCA)	5.00	11/1/20	1,275,000	1,338,826
California Public Works Board,
LR (Department of Mental
Health-Coalinga)	5.50	6/1/18	2,500,000	2,734,325

The Fund 9

STATEMENT OF INVESTMENTS (continued)

Long-Term Municipal	Coupon	Maturity	Principal
Investments (continued)	Rate (%)	Date	Amount ($)	Value ($)
California (continued)
California Public Works Board,
LR (University of California
Research Projects)
(Insured; MBIA)	5.25	11/1/17	1,000,000	1,087,620
California Statewide Communities
Development Authority,
Apartment Development Revenue
(Irvine Apartment Communities)	5.05	5/15/08	2,000,000	2,028,280
California Statewide Communities
Development Authority, COP,
Revenue (Huntington Memorial
Hospital) (Insured; Connie Lee)	5.50	7/1/06	2,000,000 a	2,049,760
California Statewide Communities
Development Authority, MFHR
(Equity Residential)	5.20	6/15/09	2,000,000	2,065,400
California Statewide Communities
Development Authority, Revenue
(California Endowment)	5.25	7/1/20	2,280,000	2,454,557
California Statewide Communities
Development Authority,
Revenue (Huntington
Memorial Hospital)	5.00	7/1/17	3,000,000	3,133,050
Capistrano Unified School
District, Community Facilities
District Special Tax
(Insured; FGIC)	5.00	9/1/19	3,545,000	3,742,386
Carson Redevelopment Agency
(Area Number 1-Tax
Allocation) (Insured; MBIA)	5.50	10/1/13	1,000,000	1,105,920
Cathedral City,
Limited Obligation Improvement
Cove Improvement District
Number 2004-2	5.00	9/2/21	1,040,000	1,047,769
Central California Joint Powers
Health Financing Authority,
COP (Community Hospitals of
Central California)	6.00	2/1/20	1,000,000	1,052,150
Contra Costa County,
MFHR (Pleasant Hill BART Transit
Village Apartments Project)	3.95	12/20/07	2,500,000	2,496,425

10

Long-Term Municipal	Coupon	Maturity	Principal
Investments (continued)	Rate (%)	Date	Amount ($)	Value ($)
California (continued)
Corona Redevelopment Agency,
Tax Allocation (Merged
Downtown Amended)
(Insured; FGIC)	5.00	9/1/16	1,000,000	1,062,170
Eastern Municipal Water District,
Water and Sewer Revenue, COP
(Insured; FGIC)	5.38	7/1/17	2,000,000	2,135,280
El Monte City School District,
GO (Insured; FGIC)	5.00	5/1/17	1,900,000	2,027,338
El Segundo Unified School District
(Insured; FGIC)	5.25	9/1/17	1,145,000	1,235,352
Elsinore Valley Municipal Water
District, COP (Insured; FGIC)	5.38	7/1/15	1,000,000	1,103,340
Escondido Unified School District
(Insured; FSA)	5.25	8/1/16	1,795,000	1,935,692
Foothill/Eastern Transportation
Corridor Agency,
Toll Road Revenue	7.05	1/1/10	2,000,000��	2,240,240
Foothill/Eastern Transportation
Corridor Agency, Toll Road
Revenue (Insured; MBIA)	5.25	1/15/12	4,550,000	4,835,376
Foothill/Eastern Transportation
Corridor Agency, Toll Road
Revenue (Insured; MBIA)	5.13	1/15/19	2,000,000	2,104,420
Fountain Valley School District,
COP (Insured; AMBAC)	2.50	11/1/06	2,000,000	1,981,800
Golden State Tobacco
Securitization Corp., Enhanced
Tobacco Settlement
Asset-Backed Bonds	5.75	6/1/08	3,500,000 a	3,657,150
Golden State Tobacco
Securitization Corp., Enhanced
Tobacco Settlement
Asset-Backed Bonds	5.00	6/1/19	2,420,000	2,486,453
Hartnell Community College
District (Insured; MBIA)	5.25	8/1/16	1,880,000	2,048,147
Lincoln Special Tax,
Community Facilities
District No. 2003	5.65	9/1/19	1,250,000	1,311,038

The Fund 11

STATEMENT OF INVESTMENTS (continued)

Long-Term Municipal	Coupon	Maturity	Principal
Investments (continued)	Rate (%)	Date	Amount ($)	Value ($)
California (continued)
Los Angeles Community College
District (Insured; MBIA)	5.50	8/1/11	1,845,000 a	2,009,703
Los Angeles County Metropolitan
Transportation Authority,
Sales Tax Revenue
(Insured; FGIC)	5.00	7/1/17	1,450,000	1,522,906
Los Angeles County Public Works
Financing Authority, LR
(Master Refunding Project)
(Insured; MBIA)	5.00	12/1/08	2,000,000	2,075,040
Los Angeles Unified School
District (Insured; FGIC)	5.00	7/1/19	2,000,000	2,120,680
Los Angeles Unified School
District (Insured; MBIA)	5.50	7/1/12	2,850,000	3,131,238
Los Angeles Unified School
District (Insured; MBIA)	5.25	7/1/14	1,000,000	1,085,470
Los Angeles Unified School
District (Insured; MBIA)	5.75	7/1/15	3,000,000	3,411,090
Marin Municipal Water District,
COP (Financing Project)
(Insured; AMBAC)	5.00	7/1/16	1,545,000	1,639,739
Metropolitan Water District of
Southern California,
Waterworks Revenue	5.25	3/1/11	3,000,000 a	3,247,440
Midpeninsula Regional Open Space
District Financing Authority,
Revenue (Insured; AMBAC)	0.00	9/1/15	2,825,000	1,897,185
Milpitas Redevelopment Agency, Tax
Allocation (Redevelopment
Project Area Number 1)
(Insured; MBIA)	5.25	9/1/17	2,000,000	2,145,480
Milpitas Redevelopment Agency, Tax
Allocation (Redevelopment
Project Area Number 1)
(Insured; MBIA)	5.25	9/1/18	1,000,000	1,070,560
Modesto Irrigation District,
COP (Capital Improvements)
(Insured; FSA)	5.25	7/1/16	1,370,000	1,469,832
North Orange County Community
College District (Insured; MBIA)	5.00	8/1/19	1,000,000	1,060,790

12

Long-Term Municipal	Coupon	Maturity	Principal
Investments (continued)	Rate (%)	Date	Amount ($)	Value ($)
California (continued)
Orange County Community Facilities
District, Special Tax (Number
03-1 Ladera Ranch)	5.25	8/15/19	1,100,000	1,147,355
Orange County Community Facilities
District, Special Tax (Number
03-1 Ladera Ranch)	5.30	8/15/20	1,450,000	1,516,004
Orange County Community Facilities
District, Special Tax (Number
04-1 Ladera Ranch)	4.88	8/15/21	2,355,000	2,355,589
Oxnard Financing Authority,
Wastewater Revenue
(Insured; FGIC)	5.00	6/1/16	1,000,000	1,060,700
Pasadena Area Community College
District (Election of 2002)
(Insured; FGIC)	5.00	6/1/17	1,170,000	1,236,386
Port of Oakland,
Revenue (Insured; MBIA)	5.00	11/1/13	1,000,000	1,049,370
Rancho Water District
(Insured; FSA)	5.50	8/1/08	1,670,000	1,745,200
Riverside County Public Financing
Authority, Tax Allocation
Revenue (Redevelopment
Projects) (Insured; XLCA)	5.25	10/1/18	1,275,000	1,368,458
Riverside Improvement Board, Act
1915 (Canyon Springs
Assessment)	4.00	9/2/10	1,230,000	1,221,365
Riverside Improvement Board, Act
1915 (Canyon Springs
Assessment)	4.25	9/2/11	1,000,000	998,290
Sacramento City Unified School
District (Election of 1999)
(Insured; FSA)	5.25	7/1/20	2,435,000	2,621,424
Sacramento County,
Special Tax (Community
Facilities District Number 1)	5.20	12/1/07	1,110,000	1,129,358
Sacramento County,
Special Tax (Community
Facilities District Number 1)	5.40	12/1/09	1,220,000	1,263,957

The Fund 13

STATEMENT OF INVESTMENTS (continued)

Long-Term Municipal	Coupon	Maturity	Principal
Investments (continued)	Rate (%)	Date	Amount ($)	Value ($)
California (continued)
Sacramento County Sanitation
District Financing
Authority, Revenue	5.50	12/1/14	4,000,000	4,331,960
San Diego County,
COP (Burnham Institute)	5.70	9/1/09	3,700,000 a	3,944,866
San Diego County,
COP (Burnham Institute for
Medical Research)	5.00	9/1/12	1,260,000	1,306,519
San Diego Housing Authority,
MFHR (Island Village Apartments)
(Collateralized; FHLMC)	5.10	7/1/12	1,025,000	1,074,261
San Diego Unified School District
(Election of 1998) (Insured; FSA)	5.25	7/1/16	1,465,000	1,594,506
San Francisco Bay Area Rapid
Transit District, Sales Tax
Revenue (Insured; MBIA)	5.00	7/1/18	2,000,000	2,126,980
San Francisco City and County
Public Utilities Commission,
San Francisco Water Revenue
(Insured; FSA)	5.00	11/1/18	2,000,000	2,136,300
San Francisco City and County
Redevelopment Agency,
Community Facilities District
Number 6 (Mission Bay South
Public Improvements)	0.00	8/1/18	445,000	228,307
San Francisco City and County
Redevelopment Agency,
Community Facilities District
Number 6 (Mission Bay South
Public Improvements)	0.00	8/1/21	500,000	210,735
San Mateo County Community College
District (Election of 2001)
(Insured; MBIA)	5.00	9/1/20	2,000,000	2,112,580
San Mateo Redevelopment Agency
(Tax Allocation)	5.10	8/1/14	1,835,000	1,910,767
San Mateo Union High School
District (Insured; FSA)	5.00	9/1/21	2,545,000	2,676,017
Santa Clara Unified School District	5.50	7/1/16	1,870,000	2,016,758

14

Long-Term Municipal	Coupon	Maturity	Principal
Investments (continued)	Rate (%)	Date	Amount ($)	Value ($)
California (continued)
South Orange County Public
Financing Authority, Special
Tax Revenue (Foothill Area)
(Insured; FGIC)	5.25	8/15/17	2,000,000	2,161,360
South Placer Wastewater Authority,
Wastewater Revenue
(Insured; FGIC)	5.50	11/1/10	1,000,000 a	1,089,630
Southeast Resource Recovery
Facilities Authority, LR
(Insured; AMBAC)	4.00	12/1/07	1,000,000	1,009,040
Southeast Resource Recovery
Facilities Authority, LR
(Insured; AMBAC)	5.25	12/1/17	1,000,000	1,070,600
Sunnyvale,
Solid Waste Revenue
(Insured; AMBAC)	5.50	10/1/15	1,695,000	1,807,226
Truckee-Donner Public Utility
District, COP (Insured; ACA)	4.50	1/1/08	1,500,000	1,515,885
Truckee-Donner Public Utility
District, COP (Insured; ACA)	4.50	1/1/09	1,685,000	1,706,854
U.S. Related—13.1%
Children’s Trust Fund of Puerto
Rico, Tobacco Settlement
Asset-Backed Bonds	5.75	7/1/10	1,000,000 a	1,080,890
Childrens’s Trust Fund of Puerto
Rico, Tobacco Settlement
Asset-Backed Bonds	5.75	7/1/10	3,000,000 a	3,242,670
Guam,
LOR (Section 30) (Insured; FSA)	5.50	12/1/10	3,000,000	3,231,600
Puerto Rico Commonwealth,
Public Improvement	5.00	7/1/08	2,500,000	2,547,475
Puerto Rico Commonwealth,
Public Improvement
(Insured; MBIA)	5.75	7/1/08	2,000,000	2,092,240
Puerto Rico Electric Power
Authority, Power Revenue
(Insured; FSA)	5.75	7/1/10	2,000,000 a	2,178,920

The Fund 15

STATEMENT OF INVESTMENTS (continued)

Long-Term Municipal	Coupon	Maturity	Principal
Investments (continued)	Rate (%)	Date	Amount ($)	Value ($)
U.S. Related (continued)
Puerto Rico Electric Power
Authority, Power Revenue
(Insured; MBIA)	5.00	7/1/22	2,745,000	2,906,324
Puerto Rico Highway and
Transportation Authority,
Highway Revenue (Insured; FSA)	6.25	7/1/16	3,000,000	3,542,040
Puerto Rico Industrial Tourist
Educational, Medical and
Environmental Control
Facilities Financing
Authority, Industrial Revenue
(Guaynabo Warehouse)	4.35	7/1/06	1,170,000	1,171,123
Puerto Rico Public Buildings
Authority, Revenue
(Government Facility)	5.50	7/1/16	1,500,000	1,626,465
Puerto Rico Public Finance Corp.
(Commonwealth Appropriation)	5.75	2/1/12	2,000,000	2,147,880
Puerto Rico Public Finance Corp.
(Commonwealth Appropriation)
(Insured; AMBAC)	5.25	2/1/12	1,500,000	1,605,300
Virgin Islands Public Finance
Authority, Revenue (Virgin
Islands Gross Receipts
Taxes Loan Note)	5.63	10/1/10	1,695,000	1,748,782
Virgin Islands Water and Power
Authority, Electric Systems
(Insured; Radian)	5.13	7/1/11	1,000,000	1,034,370
Total Long-Term Municipal Investments
(cost $215,476,430)				219,083,361

16

Short-Term Municipal	Coupon	Maturity	Principal
Investments—3.3%	Rate (%)	Date	Amount ($)	Value ($)
California—2.4%
California Pollution Control
Financing Authority, PCR
(Pacific Gas and Electric
Corp.) (LOC; Bank One)	3.07	4/1/06	3,100,000 b	3,100,000
California Statewide Communities
Development Authority, Revenue
(University Retirement
Community at Davis Project)
(Insured; Radian Bank and Liquidity
Facility; Bank of America)	3.08	4/1/06	2,400,000 b	2,400,000
U.S. Related—.9%
Government Development Bank of
Puerto Rico, CP	3.80	6/15/06	2,000,000	1,999,160
Total Short-Term Municipal Investments
(cost $7,500,000)				7,499,160
Total Investments (cost $222,976,430)			98.5%	226,582,521
Cash and Receivables (Net)			1.5%	3,339,799
Net Assets			100.0%	229,922,320
a These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are
collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on
the municipal issue and to retire the bonds in full at the earliest refunding date.
b Securities payable on demand.Variable interest rate—subject to periodic change.

The Fund 17

STATEMENT OF INVESTMENTS (continued)

Summary of Abbreviations
ACA	American Capital Access	AGC	ACE Guaranty Corporation
AGIC	Asset Guaranty Insurance	AMBAC	American Municipal Bond
	Company		Assurance Corporation
ARRN	Adjustable Rate Receipt Notes	BAN	Bond Anticipation Notes
BIGI	Bond Investors Guaranty Insurance	BPA	Bond Purchase Agreement
CGIC	Capital Guaranty Insurance	CIC	Continental Insurance
	Company		Company
CIFG	CDC Ixis Financial Guaranty	CMAC	Capital Market Assurance
			Corporation
COP	Certificate of Participation	CP	Commercial Paper
EDR	Economic Development Revenue	EIR	Environmental Improvement
			Revenue
FGIC	Financial Guaranty Insurance
	Company	FHA	Federal Housing Administration
FHLB	Federal Home Loan Bank	FHLMC	Federal Home Loan Mortgage
			Corporation
FNMA	Federal National
	Mortgage Association	FSA	Financial Security Assurance
GAN	Grant Anticipation Notes	GIC	Guaranteed Investment Contract
GNMA	Government National
	Mortgage Association	GO	General Obligation
HR	Hospital Revenue	IDB	Industrial Development Board
IDC	Industrial Development Corporation	IDR	Industrial Development Revenue
LOC	Letter of Credit	LOR	Limited Obligation Revenue
LR	Lease Revenue	MBIA	Municipal Bond Investors
			Assurance Insurance
			Corporation
MFHR	Multi-Family Housing Revenue	MFMR	Multi-Family Mortgage Revenue
PCR	Pollution Control Revenue	RAC	Revenue Anticipation
			Certificates
RAN	Revenue Anticipation Notes	RAW	Revenue Anticipation Warrants
RRR	Resources Recovery Revenue	SAAN	State Aid Anticipation Notes
SBPA	Standby Bond Purchase Agreement	SFHR	Single Family Housing Revenue
SFMR	Single Family Mortgage Revenue	SONYMA	State of New York Mortgage
			Agency
SWDR	Solid Waste Disposal Revenue	TAN	Tax Anticipation Notes
TAW	Tax Anticipation Warrants	TRAN	Tax and Revenue
			Anticipation Notes
XLCA	XL Capital Assurance

18

Summary of Combined Ratings (Unaudited)
Fitch		or Moody’s	or	Standard & Poor’s	Value (%) †
AAA		Aaa		AAA	60.4
AA		Aa		AA	7.3
A		A		A	12.3
BBB		Baa		BBB	11.2
F1		MIG1/P1		SP1/A1	2.4
Not Ratedc		Not Ratedc		Not Rated c	6.4
					100.0
†	Based on total investments.
c	Securities which, while not rated by Fitch, Moody’s and Standard & Poor’s, have been determined by the Manager to
	be of comparable quality to those rated securities in which the fund may invest.
See notes to financial statements.

The Fund 19

STATEMENT OF ASSETS AND LIABILITIES 

March 31, 2006 

	Cost	Value
Assets ($):
Investments in securities—See Statement of Investments	222,976,430	226,582,521
Cash		753,574
Interest receivable		2,629,597
Receivable for shares of Beneficial Interest subscribed		229,570
Prepaid expenses		9,079
		230,204,341
Liabilities ($):
Due to The Dreyfus Corporation and affiliates—Note 3(b)		130,567
Payable for shares of Beneficial Interest redeemed		93,011
Accrued expenses		58,443
		282,021
Net Assets ($)		229,922,320
Composition of Net Assets ($):
Paid-in capital		226,362,552
Accumulated net realized gain (loss) on investments		(46,323)
Accumulated net unrealized appreciation
(depreciation) on investments		3,606,091
Net Assets ($)		229,922,320
Shares Outstanding
(unlimited number of $.001 par value shares of Beneficial Interest authorized)		16,530,881
Net Asset Value, offering and redemption price per share—Note 3(d) ($)		13.91
See notes to financial statements.

20

STATEMENT OF OPERATIONS 

Year Ended March 31, 2006 

Investment Income ($):
Interest Income	9,533,445
Expenses:
Management fee—Note 3(a)	1,355,812
Shareholder servicing costs—Note 3(b)	201,261
Professional fees	61,161
Custodian fees	26,617
Trustees’ fees and expenses—Note 3(c)	25,069
Prospectus and shareholders’ reports	17,681
Registration fees	11,890
Loan commitment fees—Note 2	1,663
Miscellaneous	28,799
Total Expenses	1,729,953
Less—reduction in custody fee due to
earnings credits—Note 1(b)	(6,081)
Net Expenses	1,723,872
Investment Income—Net	7,809,573
Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):
Net realized gain (loss) on investments	345,840
Net unrealized appreciation (depreciation) on investments	(2,060,774)
Net Realized and Unrealized Gain (Loss) on Investments	(1,714,934)
Net Increase in Net Assets Resulting from Operations	6,094,639
See notes to financial statements.

The Fund 21

STATEMENT OF CHANGES IN NET ASSETS

		Year Ended March 31,
	2006	2005
Operations ($):
Investment income—net	7,809,573	7,284,736
Net realized gain (loss) on investments	345,840	890,097
Net unrealized appreciation
(depreciation) on investments	(2,060,774)	(6,440,945)
Net Increase (Decrease) in Net Assets
Resulting from Operations	6,094,639	1,733,888
Dividends to Shareholders from ($):
Investment income—net	(7,809,573)	(7,282,109)
Net realized gain on investments	(435,184)	(1,778,010)
Total Dividends	(8,244,757)	(9,060,119)
Beneficial Interest Transactions ($):
Net proceeds from shares sold	46,028,549	40,487,567
Dividends reinvested	6,210,455	6,836,689
Cost of shares redeemed	(41,443,712)	(42,916,604)
Increase (Decrease) in Net Assets
from Beneficial Interest Transactions	10,795,292	4,407,652
Total Increase (Decrease) in Net Assets	8,645,174	(2,918,579)
Net Assets ($):
Beginning of Period	221,277,146	224,195,725
End of Period	229,922,320	221,277,146
Capital Share Transactions (Shares):
Shares sold	3,264,789	2,848,207
Shares issued for dividends reinvested	440,607	481,612
Shares redeemed	(2,940,050)	(3,037,883)
Net Increase (Decrease) in Shares Outstanding	765,346	291,936
See notes to financial statements.

22

FINANCIAL HIGHLIGHTS

The following table describes the performance for the fiscal periods indicated. Total return shows how much your investment in the fund would have increased (or decreased) during each period, assuming you had reinvested all dividends and distributions.These figures have been derived from the fund’s financial statements.

		Year Ended March 31,
	2006	2005	2004	2003	2002
Per Share Data ($):
Net asset value, beginning of period	14.04	14.49	14.55	13.88	13.97
Investment Operations:
Investment income—net a	.49	.48	.52	.56	.58
Net realized and unrealized
gain (loss) on investments	(.10)	(.33)	.07	.68	(.09)
Total from Investment Operations	.39	.15	.59	1.24	.49
Distributions:
Dividends from investment income—net	(.49)	(.48)	(.52)	(.57)	(.58)
Dividends from net realized
gain on investments	(.03)	(.12)	(.13)	—	—
Total Distributions	(.52)	(.60)	(.65)	(.57)	(.58)
Net asset value, end of period	13.91	14.04	14.49	14.55	13.88
Total Return (%)	2.75	1.05	4.20	9.09	3.46
Ratios/Supplemental Data (%):
Ratio of total expenses
to average net assets	.76	.77	.76	.76	.76
Ratio of net expenses
to average net assets	.76	.77	.76	.76	.76
Ratio of net investment income
to average net assets	3.46	3.37	3.61	3.91	4.15
Portfolio Turnover Rate	25.78	39.63	38.95	21.56	21.04
Net Assets, end of period ($ x 1,000)	229,922	221,277	224,196	220,393	197,339
a Based on average shares outstanding at each month end.
See notes to financial statements.

The Fund 23

NOTES TO FINANCIAL STATEMENTS

NOTE 1—Significant Accounting Policies:

Dreyfus California Intermediate Municipal Bond Fund (the “fund”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as a non-diversified open-end management investment company.The fund’s investment objective is to provide investors with as high a level of current income exempt from federal and California state income taxes as is consistent with the preservation of capital.The Dreyfus Corporation (the “Manager or “Dreyfus”) serves as the fund’s investment adviser. The Manager is a wholly-owned subsidiary of Mellon Financial Corporation (“Mellon Financial”). Dreyfus Service Corporation (the “Distributor”), a wholly-owned subsidiary of the Manager, is the distributor of the fund’s shares, which are sold to the public without a sales charge.

The fund’s financial statements are prepared in accordance with U.S. generally accepted accounting principles, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

The fund enters into contracts that contain a variety of indemnifications. The fund’s maximum exposure under these arrangements is unknown.The fund does not anticipate recognizing any loss related to these arrangements.

(a) Portfolio valuation: Investments in securities are valued each business day by an independent pricing service (the “Service”) approved by the Board of Trustees. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Other investments (which constitute a majority of the portfolio securities) are carried at fair value as determined by the Service, based on methods which include consideration of: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and

24

general market conditions. Options and financial futures on municipal and U.S.Treasury securities are valued at the last sales price on the securities exchange on which such securities are primarily traded or at the last sales price on the national securities market on each business day.

(b) Securities transactions and investment income: Securities transactions are recorded on a trade date basis. Realized gain and loss from securities transactions are recorded on the identified cost basis. Interest income, adjusted for accretion of discount and amortization of premium on investments, is earned from settlement date and recognized on the accrual basis. Securities purchased or sold on a when-issued or delayed-delivery basis may be settled a month or more after the trade date.

The fund has an arrangement with the custodian bank whereby the fund receives earnings credits from the custodian when positive cash balances are maintained, which are used to offset custody fees. For financial reporting purposes, the fund includes net earnings credits as an expense offset in the Statement of Operations.

The fund follows an investment policy of investing primarily in municipal obligations of one state. Economic changes affecting the state and certain of its public bodies and municipalities may affect the ability of issuers within the state to pay interest on, or repay principal of, municipal obligations held by the fund.

(c) Dividends to shareholders: It is the policy of the fund to declare dividends daily from investment income-net. Such dividends are paid monthly. Dividends from net realized capital gain, if any, are normally declared and paid annually, but the fund may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code of 1986, as amended (the “Code”).To the extent that net realized capital gain can be offset by capital loss carryovers, it is the policy of the fund not to distribute such gain. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles.

The Fund 25

NOTES TO FINANCIAL STATEMENTS (continued)

(d) Federal income taxes: It is the policy of the fund to continue to qualify as a regulated investment company, which can distribute tax exempt dividends, by complying with the applicable provisions of the Code, and to make distributions of income and net realized capital gain sufficient to relieve it from substantially all federal income and excise taxes.

At March 31, 2006, the components of accumulated earnings on a tax basis were as follows: undistributed tax exempt income $58,837 and unrealized appreciation $3,606,091. In addition, the fund had $46,323 of capital losses realized after October 31, 2005, which were deferred for tax purposes to the first day of the current fiscal year.

The tax character of distributions paid to shareholders during the fiscal periods ended March 31, 2006 and March 31, 2005 were as follows: tax exempt income $7,809,573 and $7,282,109, ordinary income $0 and $163,868 and long-term capital gains $435,184 and $1,614,142 respectively.

During the period ended March 31, 2006, as a result of permanent book to tax differences primarily due to the tax treatment for excess distribution adjustment, the fund increased accumulated net realized gain (loss) on investments by $1,504 and decreased paid-in capital by the same amount. Net assets were not affected by this reclassification.

NOTE 2—Bank Line of Credit:

The fund participates with other Dreyfus-managed funds in a $350 million redemption credit facility (the “Facility”) to be utilized for temporary or emergency purposes, including the financing of redemptions. In connection therewith, the fund has agreed to pay commitment fees on its pro rata portion of the Facility. Interest is charged to the fund based on prevailing market rates in effect at the time of borrowings. During the period ended March 31, 2006, the fund did not borrow under the Facility.

26

NOTE 3—Management Fee and Other Transactions With Affiliates:

(a) Pursuant to a management agreement with the Manager, the management fee is computed at the annual rate of .60% of the value of the fund’s average daily net assets and is payable monthly.

(b) Under the Shareholder Services Plan, the fund reimburses the Distributor an amount not to exceed an annual rate of .25% of the value of the fund’s average daily net assets for certain allocated expenses of providing personal services and/or maintaining shareholder accounts.The services provided may include personal services relating to shareholder accounts, such as answering shareholder inquiries regarding the fund and providing reports and other information, and services related to the maintenance of shareholder accounts. During the period ended March 31, 2006, the fund was charged $89,768 pursuant to the Shareholder Services Plan.

The fund compensates Dreyfus Transfer, Inc., a wholly-owned subsidiary of the Manager, under a transfer agency agreement for providing personnel and facilities to perform transfer agency services for the fund. During the period ended March 31, 2006, the fund was charged $70,403 pursuant to the transfer agency agreement.

During the period ended March 31, 2006, the fund was charged $3,784 for services performed by the Chief Compliance Officer.

The components of Due to The Dreyfus Corporation and affiliates in the Statement of Assets and Liabilities consist of: management fees $116,972, chief compliance officer fees $1,910 and transfer agency per account fees $11,685.

(c) Each Board member also serves as a Board member of other funds within the Dreyfus complex. Annual retainer fees and attendance fees are allocated to each fund based on net assets.

The Fund 27

NOTES TO FINANCIAL STATEMENTS (continued)

(d) A 1% redemption fee is charged and retained by the fund on certain shares redeemed within thirty days following the date of issuance, subject to exceptions, including redemptions made through the use of the fund’s exchange privilege. During the period ended March 31, 2006, redemption fees charged and retained by the fund amounted to $3.

NOTE 4—Securities Transactions:

The aggregate amount of purchases and sales of investment securities, excluding short-term securities, during the period ended March 31, 2006, amounted to $68,276,064 and $56,010,254, respectively.

At March 31, 2006, the cost of investments for federal income tax purposes was $222,976,430; accordingly, accumulated net unrealized appreciation on investments was $3,606,091, consisting of $4,713,414 gross unrealized appreciation and $1,107,323 gross unrealized depreciation.

28

REPORT OF INDEPENDENT REGISTERED 

PUBLIC ACCOUNTING FIRM 

Shareholders and Board of Trustees 

Dreyfus California Intermediate Municipal Bond Fund 

We have audited the accompanying statement of assets and liabilities of Dreyfus California Intermediate Municipal Bond Fund, including the statement of investments, as of March 31, 2006, 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 financial highlights for each of the years 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 March 31, 2006 by correspondence with the custodian.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 Dreyfus California Intermediate Municipal Bond Fund at March 31, 2006, 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 indicated years, in conformity with U.S. generally accepted accounting principles.

New York, New York 

May 4, 2006 

The Fund 29

IMPORTANT TAX INFORMATION (Unaudited)

In accordance with federal tax law, the fund hereby makes the following designations regarding its fiscal year ended March 31, 2006:

—all the dividends paid from investment income-net during its fiscal year ended March 31, 2006 as “exempt-interest dividends” (not generally subject to regular federal and, for individuals who are California residents, California personal income taxes), and

—the fund hereby designates $.0083 per share as a long-term capital gain distribution paid on July 27, 2005, and also designates $.0189 per share as a long-term capital gain distribution paid on December 16, 2005.

As required by federal tax law rules, shareholders will receive notification of their portion of the fund’s taxable ordinary dividends (if any) and capital gain distributions (if any) paid for the 2006 calendar year on Form 1099-DIV which will be mailed by January 31, 2007.

30

BOARD MEMBERS INFORMATION (Unaudited)

Joseph S. DiMartino (62) 

Chairman of the Board (1995) 

Principal Occupation During Past 5 Years: 

• Corporate Director and Trustee 

Other Board Memberships and Affiliations:

• The Muscular Dystrophy Association, Director
• Levcor International, Inc., an apparel fabric processor, Director
• Century Business Services, Inc., a provider of outsourcing functions for small and medium size companies, Director
• The Newark Group, a provider of a national market of paper recovery facilities, paperboard mills and paperboard converting plants, Director
• Sunair Services Corporation, engages in the design, manufacture and sale of high frequency systems for long-range voice and data communications, as well as provides certain outdoor- related services to homes and businesses, Director

No. of Portfolios for which Board Member Serves: 185

———————

David W. Burke (69) 

Board Member (1994) 

Principal Occupation During Past 5 Years: 

• Corporate Director and Trustee 

Other Board Memberships and Affiliations:

• John F. Kennedy Library Foundation, Director
• U.S.S. Constitution Museum, Director

No. of Portfolios for which Board Member Serves: 79

———————

Diane Dunst (66) 

Board Member (1990) 

Principal Occupation During Past 5 Years: 

• President, Huntting House Antiques 

No. of Portfolios for which Board Member Serves: 9

———————

Jay I. Meltzer (77) 

Board Member (1991) 

Principal Occupation During Past 5 Years:

• Physician, Internist and Specialist in Clinical Hypertension
• Clinical Professor of Medicine at Columbia University & College of Physicians and Surgeons
• Faculty Associate, Center for Bioethics, Columbia

No. of Portfolios for which Board Member Serves: 9

The Fund 31

BOARD MEMBERS INFORMATION (Unaudited) (continued)

Daniel Rose (76) 

Board Member (1992) 

Principal Occupation During Past 5 Years:

• Chairman and Chief Executive Officer of Rose Associates, Inc., a New York based real estate development and management firm

Other Board Memberships and Affiliations:

• Baltic-American Enterprise Fund,Vice Chairman and Director
• Harlem Educational Activities Fund, Inc., Chairman
• Housing Committee of the Real Estate Board of New York, Inc., Director

No. of Portfolios for which Board Member Serves: 18

———————

Warren B. Rudman (75) 

Board Member (1993) 

Principal Occupation During Past 5 Years:

• Of Counsel to (from January 1993 to December 31, 2003, Partner in) the law firm Paul, Weiss, Rifkind,Wharton & Garrison LLP

Other Board Memberships and Affiliations:

• Collins & Aikman Corporation, Director
• Allied Waste Corporation, Director
• Raytheon Company, Director
• Boston Scientific, Director

No. of Portfolios for which Board Member Serves: 18

———————

Sander Vanocur (78) 

Board Member (1992) 

Principal Occupation During Past 5 Years: 

• President, Old Owl Communications 

No. of Portfolios for which Board Member Serves: 18

———————

Once elected all Board Members serve for an indefinite term.The address of the Board Members and Officers is in c/o The Dreyfus Corporation, 200 Park Avenue, New York, New York 10166. Additional information about the Board Members is available in the fund’s Statement of Additional Information which can be obtained from Dreyfus free of charge by calling this toll free number: 1-800-554-4611.

Rosalind Gersten Jacobs, Emeritus Board Member

32

OFFICERS OF THE FUND (Unaudited)

STEPHEN E. CANTER, President since 

March 2000. 

Chairman of the Board and Chief Executive Officer of the Manager, and an officer of 90 investment companies (comprised of 185 portfolios) managed by the Manager. Mr. Canter also is a Board member and, where applicable, an Executive Committee Member of the other investment management subsidiaries of Mellon Financial Corporation, each of which is an affiliate of the Manager. He is 60 years old and has been an employee of the Manager since May 1995.

STEPHEN R. BYERS, Executive Vice 

President since November 2002. 

Chief Investment Officer,Vice Chairman and a director of the Manager, and an officer of 90 investment companies (comprised of 185 portfolios) managed by the Manager. Mr. Byers also is an officer, director or an Executive Committee Member of certain other investment management subsidiaries of Mellon Financial Corporation, each of which is an affiliate of the Manager. He is 52 years old and has been an employee of the Manager since January 2000.

MARK N. JACOBS, Vice President since 

March 2000. 

Executive Vice President, Secretary and General Counsel of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. He is 59 years old and has been an employee of the Manager since June 1977.

MICHAEL A. ROSENBERG, Vice President 

and Secretary since August 2005. 

Associate General Counsel of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. He is 46 years old and has been an employee of the Manager since October 1991.

JAMES BITETTO, Vice President and 

Assistant Secretary since August 2005. 

Assistant General Counsel and Assistant Secretary of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. He is 39 years old and has been an employee of the Manager since December 1996.

JONI LACKS CHARATAN, Vice President 

and Assistant Secretary since 

August 2005. 

Associate General Counsel of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. She is 50 years old and has been an employee of the Manager since October 1988.

JOSEPH M. CHIOFFI, Vice President and 

Assistant Secretary since August 2005. 

Assistant General Counsel of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. He is 44 years old and has been an employee of the Manager since June 2000.

JANETTE E. FARRAGHER, Vice President 

and Assistant Secretary since 

August 2005. 

Associate General Counsel of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. She is 43 years old and has been an employee of the Manager since February 1984.

JOHN B. HAMMALIAN, Vice President and 

Assistant Secretary since August 2005. 

Associate General Counsel of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. He is 42 years old and has been an employee of the Manager since February 1991.

The Fund 33

OFFICERS OF THE FUND (Unaudited) (continued)

ROBERT R. MULLERY, Vice President and 

Assistant Secretary since August 2005. 

Associate General Counsel of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. He is 54 years old and has been an employee of the Manager since May 1986.

JEFF PRUSNOFSKY, Vice President and 

Assistant Secretary since August 2005. 

Associate General Counsel of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. He is 40 years old and has been an employee of the Manager since October 1990.

JAMES WINDELS, Treasurer since 

November 2001. 

Director – Mutual Fund Accounting of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. He is 47 years old and has been an employee of the Manager since April 1985.

ERIK D. NAVILOFF, Assistant Treasurer 

since August 2005. 

Senior Accounting Manager – Taxable Fixed Income Funds of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. He is 37 years old and has been an employee of the Manager since November 1992.

ROBERT ROBOL, Assistant Treasurer 

since August 2005. 

Senior Accounting Manager – Money Market and Municipal Bond Funds of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. He is 42 years old and has been an employee of the Manager since October 1988.

ROBERT SVAGNA, Assistant Treasurer 

since August 2005. 

Senior Accounting Manager – Equity Funds of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. He is 39 years old and has been an employee of the Manager since November 1990.

GAVIN C. REILLY, Assistant Treasurer 

since December 2005. 

Tax Manager of the Investment Accounting and Support Department of the Manager, and an officer of 91 investment companies (comprised of 201 portfolios) managed by the Manager. He is 37 years old and has been an employee of the Manager since April 1991.

JOSEPH W. CONNOLLY, Chief Compliance 

Officer since October 2004. 

Chief Compliance Officer of the Manager and The Dreyfus Family of Funds (91 investment companies, comprised of 201 portfolios). From November 2001 through March 2004, Mr. Connolly was first Vice-President, Mutual Fund Servicing for Mellon Global Securities Services. In that capacity, Mr. Connolly was responsible for managing Mellon’s Custody, Fund Accounting and Fund Administration services to third-party mutual fund clients. He is 48 years old and has served in various capacities with the Manager since 1980, including manager of the firm’s Fund Accounting Department from 1997 through October 2001.

WILLIAM GERMENIS, Anti-Money 

Laundering Compliance Officer since 

October 2002. 

Vice President and Anti-Money Laundering Compliance Officer of the Distributor, and the Anti-Money Laundering Compliance Officer of 87 investment companies (comprised of 197 portfolios) managed by the Manager. He is 35 years old and has been an employee of the Distributor since October 1998.

34

NOTES

For More	Information
Dreyfus	Transfer Agent &
California Intermediate	Dividend Disbursing Agent
Municipal Bond Fund	Dreyfus Transfer, Inc.
200 Park Avenue	200 Park Avenue
New York, NY 10166	New York, NY 10166
Manager	Distributor
The Dreyfus Corporation	Dreyfus Service Corporation
200 Park Avenue	200 Park Avenue
New York, NY 10166	New York, NY 10166
Custodian
The Bank of New York
One Wall Street
New York, NY 10286
Telephone 1-800-645-6561

Mail The Dreyfus Family of Funds, 144 Glenn Curtiss Boulevard, Uniondale, NY 11556-0144 E-mail Send your request to info@dreyfus.com Internet Information can be viewed online or downloaded at: http://www.dreyfus.com

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (“SEC”) for the first and third quarters of each fiscal year on Form N-Q. The fund's Forms N-Q are available on the SEC’s website at http://www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

Information regarding how the fund voted proxies relating to portfolio securities for the 12-month period ended June 30, 2005, is available on the SEC’s website at http://www.sec.gov and without charge, upon request, by calling 1-800-645-6561.

Item 2. Code of Ethics.

The Registrant has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There have been no amendments to, or waivers in connection with, the Code of Ethics during the period covered by this Report.

Item 3. Audit Committee Financial Expert.

The Registrant's Board has determined that Joseph S. DiMartino, a member of the Audit Committee of the Board, is an audit committee financial expert as defined by the Securities and Exchange Commission (the "SEC"). Joseph S. DiMartino is "independent" as defined by the SEC for purposes of audit committee financial expert determinations.

Item 4. Principal Accountant Fees and Services

(a) Audit Fees. The aggregate fees billed for each of the last two fiscal years (the "Reporting Periods") for professional services rendered by the Registrant's principal accountant (the "Auditor") for the audit of the Registrant's annual financial statements, or services that are normally provided by the Auditor in connection with the statutory and regulatory filings or engagements for the Reporting Periods, were $29,480 in 2005 and $30,881 in 2006.

(b) Audit-Related Fees. The aggregate fees billed in the Reporting Periods for assurance and related services by the Auditor that are reasonably related to the performance of the audit of the Registrant's financial statements and are not reported under paragraph (a) of this Item 4 were $0 in 2005 and $0 in 2006.

The aggregate fees billed in the Reporting Periods for non-audit assurance and related services by the Auditor to the Registrant's investment adviser (not including any sub-investment adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the Registrant ("Service Affiliates"), that were reasonably related to the performance of the annual audit of the Service Affiliate, which required pre-approval by the Audit Committee were $0 in 2005 and $0 in 2006.

Note: For the second paragraph in each of (b) through (d) of this Item 4, certain of such services were not pre-approved prior to May 6, 2003, when such services were required to be pre-approved. On and after May 6, 2003, 100% of all services provided by the Auditor were pre-approved as required. For comparative purposes, the fees shown assume that all such services were pre-approved, including services that were not pre-approved prior to the compliance date of the pre-approval requirement.

(c) Tax Fees. The aggregate fees billed in the Reporting Periods for professional services rendered by the Auditor for tax compliance, tax advice and tax planning ("Tax Services") were $2,725 in 2005 and $3,025 in 2006. These services consisted of (i) review or preparation of U.S. federal, state, local and excise tax returns; (ii) U.S. federal, state and local tax planning, advice and assistance regarding statutory, regulatory or administrative developments, and (iii) tax advice regarding tax qualification matters and/or treatment of various financial instruments held or proposed to be acquired or held.

-2-

The aggregate fees billed in the Reporting Periods for Tax Services by the Auditor to Service Affiliates which required pre-approval by the Audit Committee were $0 in 2005 and $0 in 2006.

(d) All Other Fees. The aggregate fees billed in the Reporting Periods for products and services provided by the Auditor, other than the services reported in paragraphs (a) through (c) of this Item, were $149 in 2005 and $168 in 2006. These services consisted of a review of the Registrant's anti-money laundering program.

The aggregate fees billed in the Reporting Periods for Non-Audit Services by the Auditor to Service Affiliates, other than the services reported in paragraphs (b) through (c) of this Item, which required pre-approval by the Audit Committee were $0 in 2005 and $0 in 2006.

Audit Committee Pre-Approval Policies and Procedures. The Registrant's Audit Committee has established policies and procedures (the "Policy") for pre-approval (within specified fee limits) of the Auditor's engagements for non-audit services to the Registrant and Service Affiliates without specific case-by-case consideration. Pre-approval considerations include whether the proposed services are compatible with maintaining the Auditor's independence. Pre-approvals pursuant to the Policy are considered annually.

Non-Audit Fees. The aggregate non-audit fees billed by the Auditor for services rendered to the Registrant, and rendered to Service Affiliates, for the Reporting Periods were $605,451 in 2005 and $769,395 in 2006.

Auditor Independence. The Registrant's Audit Committee has considered whether the provision of non-audit services that were rendered to Service Affiliates which were not pre-approved (not requiring pre-approval) is compatible with maintaining the Auditor's independence.

Item 5.	Audit Committee of Listed Registrants.
	Not applicable.
Item 6.	Schedule of Investments.
	Not applicable.
Item 7.	Disclosure of Proxy Voting Policies and Procedures for Closed-End Management
	Investment Companies.
	Not applicable.
Item 8.	Portfolio Managers of Closed-End Management Investment Companies.
	Not applicable.
Item 9.	Purchases of Equity Securities by Closed-End Management Investment Companies and
	Affiliated Purchasers.
	Not applicable.
Item 10.	Submission of Matters to a Vote of Security Holders.

The Registrant has a Nominating Committee (the "Committee"), which is responsible for selecting and nominating persons for election or appointment by the Registrant's Board as Board members. The Committee has adopted a Nominating Committee Charter (the "Charter"). Pursuant to the Charter, the

Committee will consider recommendations for nominees from shareholders submitted to the Secretary of the Registrant, c/o The Dreyfus Corporation Legal Department, 200 Park Avenue, 8th Floor East, New York, New York 10166. A nomination submission must include information regarding the recommended nominee as specified in the Charter. This information includes all information relating to a recommended nominee that is required to be disclosed in solicitations or proxy statements for the election of Board members, as well as information sufficient to evaluate the factors to be considered by the Committee, including character and integrity, business and professional experience, and whether the person has the ability to apply sound and independent business judgment and would act in the interests of the Registrant and its shareholders.

Nomination submissions are required to be accompanied by a written consent of the individual to stand for election if nominated by the Board and to serve if elected by the shareholders, and such additional information must be provided regarding the recommended nominee as reasonably requested by the Committee.

Item 11. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-CSR is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 12. Exhibits.
(a)(1)	Code of ethics referred to in Item 2.
(a)(2)	Certifications of principal executive and principal financial officers as required by Rule 30a-2(a)
under the Investment Company Act of 1940.
(a)(3)	Not applicable.
(b)	Certification of principal executive and principal financial officers as required by Rule 30a-2(b)
under the Investment Company Act of 1940.

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.

Dreyfus California Intermediate Municipal Bond Fund

By:	/s/ Stephen E. Canter
	Stephen E. Canter
	President
Date:	May 26, 2006

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

By:	/s/ Stephen E. Canter
	Stephen E. Canter
	Chief Executive Officer
Date:	May 26, 2006
By:	/s/ James Windels
	James Windels
	Chief Financial Officer
Date:	May 26, 2006

	EXHIBIT INDEX
(a)(1)	Code of ethics referred to in Item 2.
(a)(2)	Certifications of principal executive and principal financial officers as required by Rule 30a-
2(a) under the Investment Company Act of 1940. (EX-99.CERT)
(b)	Certification of principal executive and principal financial officers as required by Rule 30a-
2(b) under the Investment Company Act of 1940. (EX-99.906CERT)