Aquila Investment Management LLC
380 Madison Avenue
New York, NY  10017






July 26, 2013




VIA EDGAR

Securities and Exchange Commission
Division of Investment Management
100 F Street, NE
Washington, D.C.  20549


RE:	Churchill Cash Reserves Trust
	Quarterly Report on Form N-Q
	(33 Act No. 2-95786; 40 Act No. 811-4229)




Ladies and Gentlemen:

       On behalf of Churchill Cash Reserves Trust,
a Massachusetts business trust (the 'Trust'), we are
hereby filing the June 30, 2013 proxy voting report
on Form N-PX under Section 30 of the Investment Company
Act of 1940 and Sections 13 and 15(d) of the Securities
Exchange Act of 1934.

	As noted in the filing, the Trust did not hold
any portfolio securities for which the Trust was entitled
to participate in proxy voting.

	Please call the undersigned at (917) 209-5080 with
any comments or questions relating to the filing.



Sincerely,

/s/ Randall S. Fillmore
-----------------------

Randall S. Fillmore
Chief Compliance Officer