formnq
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UNITED STATES
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SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
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FORM N-Q
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QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
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INVESTMENT COMPANY
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Investment Company Act file number 811-05652
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DREYFUS MUNICIPAL INCOME, INC.
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(Exact name of Registrant as specified in charter)
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c/o The Dreyfus Corporation
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200 Park Avenue
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New York, New York 10166
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(Address of principal executive offices) (Zip code)
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Mark N. Jacobs, Esq.
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200 Park Avenue
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New York, New York 10166
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(Name and address of agent for service)
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Registrant's telephone number, including area code: (212) 922-6000
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Date of fiscal year end:
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9/30
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Date of reporting period:
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12/31/06
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Item 1. Schedule of Investments.
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STATEMENT OF INVESTMENTS
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Dreyfus Municipal Income, Inc.
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December 31, 2006 (Unaudited)
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Long-Term Municipal
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Coupon
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Maturity
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Principal
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Investments--156.7%
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Rate (%)
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Date
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Amount ($)
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Value ($)
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Alabama--8.7%
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Jefferson County,
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Limited Obligation School
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Warrants
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5.50
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1/1/21
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4,000,000
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4,369,800
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Jefferson County,
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Sewer Revenue, Capital
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Improvement (Insured; FGIC)
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5.75
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2/1/09
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7,500,000 a
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7,890,225
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The Board of Trustees of the
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University of Alabama, HR
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(University of Alabama at
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Birmingham) (Insured; MBIA)
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5.88
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9/1/10
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4,620,000 a
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5,011,314
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Alaska--3.5%
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Alaska Housing Finance Corp.,
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General Mortgage Revenue
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(Insured; MBIA)
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6.05
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6/1/39
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6,845,000
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7,039,740
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Arkansas--1.6%
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Independence County,
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PCR (Entergy Arkansas Inc.
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Project)
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5.00
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1/1/21
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3,000,000
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3,091,170
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California--14.2%
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ABAG Financial Authority for
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Nonprofit Corps., Insured
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Revenue, COP (Odd Fellows Home
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of California)
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6.00
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8/15/24
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5,000,000
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5,104,700
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California Department of Veteran
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Affairs, Home Purchase Revenue
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5.20
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12/1/28
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5,000,000
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5,003,400
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California Educational Facilities
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Authority, Revenue (Mills
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College)
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5.00
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9/1/34
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2,000,000
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2,069,860
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California Health Facilities
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Financing Authority, Revenue
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(Sutter Health)
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6.25
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8/15/35
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2,500,000
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2,740,350
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California Housing Finance Agency,
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Home Mortgage Revenue
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4.80
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8/1/36
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2,500,000
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2,524,300
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California Statewide Communities
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Development Authority, COP
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(Catholic Healthcare West)
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6.50
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7/1/10
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3,545,000 a
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3,913,857
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California Statewide Communities
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Development Authority, COP
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(Catholic Healthcare West)
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6.50
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7/1/20
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1,455,000
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1,588,293
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Chabot-Las Positas Community
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College District, GO (Insured;
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AMBAC)
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0.00
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8/1/32
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6,000,000
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1,738,440
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Golden State Tobacco
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Securitization Corp., Tobacco
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Settlement Asset-Backed Bonds
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7.80
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6/1/42
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3,000,000
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3,662,910
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Colorado--10.3%
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Colorado Springs,
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HR
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6.38
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12/15/10
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2,835,000 a
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3,130,974
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Colorado Springs,
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HR
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6.38
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12/15/30
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2,890,000
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3,148,799
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Denver City and County,
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Special Facilities Airport
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Revenue (United Airlines
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Project)
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6.88
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10/1/32
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2,480,000
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2,565,560
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University of Northern Colorado
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Board of Trustees, Auxiliary
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Facilities System Revenue
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(Insured; FSA)
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5.16
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6/1/35
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11,000,000 b,c
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11,662,585
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District of Columbia--1.4%
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District of Columbia,
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Revenue (Catholic University
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America Project) (Insured;
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AMBAC)
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5.63
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10/1/29
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2,080,000
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2,195,918
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District of Columbia Housing
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Finance Agency, SFMR
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(Collateralized: FHA, FNMA,
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GNMA and GIC; Trinity Funding)
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7.45
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12/1/30
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580,000
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590,051
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Florida--1.4%
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Orange County Health Facilities
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Authority, HR (Orlando
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Regional Healthcare System)
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6.00
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10/1/09
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30,000 a
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32,106
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Orange County Health Facilities
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Authority, HR (Orlando
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Regional Healthcare System)
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6.00
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10/1/26
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1,470,000
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1,556,495
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South Lake County Hospital
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District, Revenue (South Lake
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Hospital Inc.)
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5.80
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10/1/34
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1,095,000
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1,142,961
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Georgia--.5%
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Milledgeville and Baldwin County
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Development Authority, Revenue
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(Georgia College and State
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University Foundation Property
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III, LLC Student Housing
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System Project)
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5.25
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9/1/19
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1,000,000
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1,064,970
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Illinois--10.3%
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Chicago
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(Insured; FGIC)
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6.13
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7/1/10
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3,685,000 a
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4,013,739
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Chicago
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(Insured; FGIC)
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6.13
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7/1/10
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315,000 a
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343,101
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Illinois Development Finance
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Authority, Revenue (Community
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Rehabilitation Providers
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Facilities Acquisition Program)
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8.75
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3/1/10
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65,000
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65,274
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Illinois Health Facilities
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Authority, Revenue (Advocate
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Health Care Network)
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6.13
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11/15/10
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5,800,000 a
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6,301,294
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Illinois Health Facilities
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Authority, Revenue (OSF
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Healthcare System)
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6.25
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11/15/09
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7,000,000 a
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7,567,630
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Illinois Health Facilities
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Authority, Revenue (Swedish
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American Hospital)
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6.88
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5/15/10
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2,000,000 a
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2,197,440
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Indiana--1.4%
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Franklin Township School Building
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Corp., First Mortgage
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6.13
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7/15/10
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2,500,000 a
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2,747,025
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Kansas--1.3%
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Unified Government of Wyandotte
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County/Kansas City, Tax-Exempt
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Sales Tax Special Tax
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Obligation Revenue
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(Redevelopment Project Area B)
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5.00
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12/1/20
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2,500,000
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2,604,925
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Maryland--4.9%
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Maryland Economic Development
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Corp., Student Housing Revenue
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(University of Maryland,
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College Park Project)
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5.63
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6/1/13
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2,000,000 a
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2,223,660
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Maryland Health and Higher
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Educational Facilities
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Authority, Revenue (The Johns
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Hopkins University Issue)
|
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6.00
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|
7/1/09
|
|
7,000,000 a
|
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7,474,390
|
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Massachusetts--9.1%
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Massachusetts Bay Transportation
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Authority, Assessment Revenue
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5.00
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7/1/14
|
|
5,000,000 a
|
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5,434,550
|
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Massachusetts Development Finance
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Agency, SWDR (Dominion Energy
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Brayton Point Issue)
|
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5.00
|
|
2/1/36
|
|
2,000,000
|
|
2,066,880
|
|
Massachusetts Health and
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Educational Facilities
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Authority, Healthcare System
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Revenue (Covenant Health
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|
2,715,075
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|
Systems Obligated Group Issue)
|
|
6.00
|
|
7/1/31
|
|
2,500,000
|
|
|
|
Massachusetts Housing Finance
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|
Agency, SFHR
|
|
5.00
|
|
12/1/31
|
|
2,500,000
|
|
2,571,500
|
|
Massachusetts Industrial Finance
|
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|
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|
Agency, Water Treatment
|
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Revenue
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|
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|
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|
|
(Massachusetts-American
|
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|
|
|
|
|
|
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|
Hingham Project)
|
|
6.95
|
|
12/1/35
|
|
5,235,000
|
|
5,236,937
|
|
Michigan--3.5%
|
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|
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|
|
|
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|
Hancock Hospital Finance
|
|
|
|
|
|
|
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Authority, Mortgage Revenue
|
|
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|
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|
(Portgage Health) (Insured;
|
|
|
|
|
|
|
|
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|
MBIA)
|
|
5.45
|
|
8/1/08
|
|
2,200,000 a
|
|
2,252,778
|
|
Michigan Strategic Fund,
|
|
|
|
|
|
|
|
|
|
SWDR (Genesee Power Station
|
|
|
|
|
|
|
|
|
|
Project)
|
|
7.50
|
|
1/1/21
|
|
4,785,000
|
|
4,784,904
|
|
Minnesota--1.4%
|
|
|
|
|
|
|
|
|
|
Minnesota Agricultural and
|
|
|
|
|
|
|
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|
|
Economic Development Board,
|
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|
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|
|
|
|
|
|
Health Care System Revenue
|
|
|
|
|
|
|
|
|
|
(Fairview Health Care Systems)
|
|
6.38
|
|
11/15/10
|
|
2,420,000 a
|
|
2,671,801
|
|
Minnesota Agricultural and
|
|
|
|
|
|
|
|
|
|
Economic Development Board,
|
|
|
|
|
|
|
|
|
|
Health Care System Revenue
|
|
|
|
|
|
|
|
|
|
(Fairview Health Care Systems)
|
|
6.38
|
|
11/15/29
|
|
80,000
|
|
86,649
|
|
Mississippi--3.0%
|
|
|
|
|
|
|
|
|
|
Mississippi Business Finance
|
|
|
|
|
|
|
|
|
|
Corp., PCR (System Energy
|
|
|
|
|
|
|
|
|
|
Resources, Inc. Project)
|
|
5.88
|
|
4/1/22
|
|
6,000,000
|
|
6,000,720
|
|
Missouri--4.1%
|
|
|
|
|
|
|
|
|
|
Missouri Development Finance
|
|
|
|
|
|
|
|
|
|
Board, Infrastructure
|
|
|
|
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|
|
Facilities Revenue (Branson
|
|
|
|
|
|
|
|
|
|
Landing Project)
|
|
5.00
|
|
6/1/35
|
|
2,500,000
|
|
2,568,200
|
|
Missouri Health and Educational
|
|
|
|
|
|
|
|
|
|
Facilities Authority, Health
|
|
|
|
|
|
|
|
|
|
Facilities Revenue (BJC Health
|
|
|
|
|
|
|
|
|
|
System)
|
|
5.25
|
|
5/15/32
|
|
2,500,000
|
|
2,641,250
|
|
Missouri Health and Educational
|
|
|
|
|
|
|
|
|
|
Facilities Authority, Health
|
|
|
|
|
|
|
|
|
|
Facilities Revenue (Saint
|
|
|
|
|
|
|
|
|
|
Anthony's Medical Center)
|
|
6.25
|
|
12/1/10
|
|
2,500,000 a
|
|
2,749,925
|
|
Missouri Housing Development
|
|
|
|
|
|
|
|
|
|
Commission, SFMR
|
|
|
|
|
|
|
|
|
|
(Homeownership Loan Program)
|
|
|
|
|
|
|
|
|
|
(Collateralized: FNMA and GNMA)
|
|
6.30
|
|
9/1/25
|
|
180,000
|
|
181,883
|
|
Nevada--2.2%
|
|
|
|
|
|
|
|
|
|
Clark County,
|
|
|
|
|
|
|
|
|
|
IDR (Southwest Gas Corp.
|
|
|
|
|
|
|
|
|
|
Project) (Insured; AMBAC)
|
|
6.10
|
|
12/1/38
|
|
4,000,000
|
|
4,316,200
|
|
New Jersey--.9%
|
|
|
|
|
|
|
|
|
|
New Jersey Economic Development
|
|
|
|
|
|
|
|
|
|
Authority, Cigarette Tax
|
|
|
|
|
|
|
|
|
|
Revenue
|
|
5.50
|
|
6/15/31
|
|
1,610,000
|
|
1,707,695
|
|
New Mexico--2.4%
|
|
|
|
|
|
|
|
|
|
Farmington,
|
|
|
|
|
|
|
|
|
|
PCR (Public Service Co. of New
|
|
|
|
|
|
|
|
|
|
Mexico San Juan Project)
|
|
6.30
|
|
12/1/16
|
|
3,000,000
|
|
3,064,770
|
|
New Mexico Mortgage Finance
|
|
|
|
|
|
|
|
|
|
Authority, Single Family
|
|
|
|
|
|
|
|
|
|
Mortgage Program
|
|
|
|
|
|
|
|
|
|
(Collateralized: FHLMC and
|
|
|
|
|
|
|
|
|
|
GNMA)
|
|
6.85
|
|
9/1/31
|
|
1,660,000
|
|
1,685,481
|
|
New York--2.3%
|
|
|
|
|
|
|
|
|
|
Long Island Power Authority,
|
|
|
|
|
|
|
|
|
|
Electric System Revenue
|
|
5.00
|
|
9/1/27
|
|
1,500,000
|
|
1,567,785
|
|
New York State Dormitory
|
|
|
|
|
|
|
|
|
|
Authority, Catholic Health
|
|
|
|
|
|
|
|
|
|
Services of Long Island
|
|
|
|
|
|
|
|
|
|
Obligated Group Revenue (Saint
|
|
|
|
|
|
|
|
|
|
Francis Hospital Project)
|
|
5.00
|
|
7/1/27
|
|
2,930,000
|
|
3,027,159
|
|
North Carolina--3.2%
|
|
|
|
|
|
|
|
|
|
Gaston County Industrial
|
|
|
|
|
|
|
|
|
|
Facilities and Pollution
|
|
|
|
|
|
|
|
|
|
Control Financing Authority,
|
|
|
|
|
|
|
|
|
|
Exempt Facilities Revenue
|
|
|
|
|
|
|
|
|
|
(National Gypsum Co. Project)
|
|
5.75
|
|
8/1/35
|
|
1,500,000
|
|
1,608,375
|
|
North Carolina Eastern Municipal
|
|
|
|
|
|
|
|
|
|
Power Agency, Power System
|
|
|
|
|
|
|
|
|
|
Revenue
|
|
5.13
|
|
1/1/26
|
|
3,000,000
|
|
3,128,970
|
|
North Carolina Housing Finance
|
|
|
|
|
|
|
|
|
|
Agency, Home Ownership Revenue
|
|
6.25
|
|
1/1/29
|
|
1,525,000
|
|
1,573,525
|
|
Ohio--4.7%
|
|
|
|
|
|
|
|
|
|
Cuyahoga County,
|
|
|
|
|
|
|
|
|
|
Hospital Improvement Revenue
|
|
|
|
|
|
|
|
|
|
(The Metrohealth System
|
|
|
|
|
|
|
|
|
|
Project)
|
|
6.13
|
|
2/15/09
|
|
5,000,000 a
|
|
5,305,650
|
|
Ohio Housing Finance Agency,
|
|
|
|
|
|
|
|
|
|
Residential Mortgage Revenue
|
|
|
|
|
|
|
|
|
|
(Collateralized; GNMA)
|
|
5.75
|
|
9/1/30
|
|
105,000
|
|
105,811
|
|
Rickenbacker Port Authority,
|
|
|
|
|
|
|
|
|
|
Capital Funding Revenue (OASBO
|
|
|
|
|
|
|
|
|
|
Expanded Asset Pooled)
|
|
5.38
|
|
1/1/32
|
|
3,590,000
|
|
4,026,724
|
|
Oklahoma--1.3%
|
|
|
|
|
|
|
|
|
|
Oklahoma Development Finance
|
|
|
|
|
|
|
|
|
|
Authority, Revenue (Saint John
|
|
|
|
|
|
|
|
|
|
Health System)
|
|
6.00
|
|
2/15/29
|
|
2,500,000
|
|
2,627,800
|
|
Pennsylvania--7.8%
|
|
|
|
|
|
|
|
|
|
Delaware County Industrial
|
|
|
|
|
|
|
|
|
|
Development Authority, Water
|
|
|
|
|
|
|
|
|
|
Facilities Revenue (Aqua
|
|
|
|
|
|
|
|
|
|
Pennsylvania, Inc. Project)
|
|
|
|
|
|
|
|
|
|
(Insured; FGIC)
|
|
5.00
|
|
11/1/38
|
|
3,375,000
|
|
3,541,927
|
|
Pennsylvania Economic Development
|
|
|
|
|
|
|
|
|
|
Financing Authority, RRR
|
|
|
|
|
|
|
|
|
|
(Northampton Generating
|
|
|
|
|
|
|
|
|
|
Project)
|
|
6.60
|
|
1/1/19
|
|
3,500,000
|
|
3,539,165
|
|
Sayre Health Care Facilities
|
|
|
|
|
|
|
|
|
|
Authority, Revenue (Guthrie
|
|
|
|
|
|
|
|
|
|
Health)
|
|
5.88
|
|
12/1/31
|
|
7,750,000
|
|
8,393,715
|
|
South Carolina--10.9%
|
|
|
|
|
|
|
|
|
|
Lancaster Educational Assistance
|
|
|
|
|
|
|
|
|
|
Program, Inc., Installment
|
|
|
|
|
|
|
|
|
|
Purchase Revenue (The School
|
|
|
|
|
|
|
|
|
|
District of Lancaster County,
|
|
|
|
|
|
|
|
|
|
South Carolina, Project)
|
|
5.00
|
|
12/1/26
|
|
5,000,000
|
|
5,171,600
|
|
Medical University of South
|
|
|
|
|
|
|
|
|
|
Carolina, Hospital Facilities
|
|
|
|
|
|
|
|
|
|
Revenue
|
|
6.00
|
|
7/1/09
|
|
2,500,000 a
|
|
2,667,550
|
|
Piedmont Municipal Power Agency,
|
|
|
|
|
|
|
|
|
|
Electric Revenue
|
|
5.25
|
|
1/1/21
|
|
3,500,000
|
|
3,567,655
|
|
Securing Assets for Education,
|
|
|
|
|
|
|
|
|
|
Installment Purchase Revenue
|
|
|
|
|
|
|
|
|
|
(Berkeley County School
|
|
|
|
|
|
|
|
|
|
District Project)
|
|
5.13
|
|
12/1/30
|
|
2,500,000
|
|
2,641,275
|
|
Tobacco Settlement Revenue
|
|
|
|
|
|
|
|
|
|
Management Authority, Tobacco
|
|
|
|
|
|
|
|
|
|
Settlement Asset-Backed Bonds
|
|
6.38
|
|
5/15/28
|
|
2,900,000
|
|
3,147,544
|
|
Tobacco Settlement Revenue
|
|
|
|
|
|
|
|
|
|
Management Authority, Tobacco
|
|
|
|
|
|
|
|
|
|
Settlement Asset-Backed Bonds
|
|
6.38
|
|
5/15/30
|
|
3,750,000
|
|
4,402,950
|
|
Texas--13.3%
|
|
|
|
|
|
|
|
|
|
Cities of Dallas and Fort Worth,
|
|
|
|
|
|
|
|
|
|
Dallas/Fort Worth
|
|
|
|
|
|
|
|
|
|
International Airport, Joint
|
|
|
|
|
|
|
|
|
|
Revenue Improvement (Insured;
|
|
|
|
|
|
|
|
|
|
FSA)
|
|
5.00
|
|
11/1/35
|
|
2,500,000
|
|
2,538,800
|
|
Gregg County Health Facilities
|
|
|
|
|
|
|
|
|
|
Development Corp., HR (Good
|
|
|
|
|
|
|
|
|
|
Shephard Medical Center
|
|
|
|
|
|
|
|
|
|
Project) (Insured; Radian)
|
|
6.38
|
|
10/1/10
|
|
2,500,000 a
|
|
2,750,400
|
|
Harris County Health Facilities
|
|
|
|
|
|
|
|
|
|
Development Corp., HR
|
|
|
|
|
|
|
|
|
|
(Memorial Hermann Healthcare
|
|
|
|
|
|
|
|
|
|
System)
|
|
6.38
|
|
6/1/11
|
|
3,565,000 a
|
|
3,977,827
|
|
Industrial Development Corp. of
|
|
|
|
|
|
|
|
|
|
Port of Corpus Christi,
|
|
|
|
|
|
|
|
|
|
Revenue (Valero Refining and
|
|
|
|
|
|
|
|
|
|
Marketing Co. Project)
|
|
5.40
|
|
4/1/18
|
|
2,350,000
|
|
2,428,560
|
|
Port of Corpus Christi Authority
|
|
|
|
|
|
|
|
|
|
of Nueces County, Revenue
|
|
|
|
|
|
|
|
|
|
(Union Pacific Corp. Project)
|
|
5.65
|
|
12/1/22
|
|
4,500,000
|
|
4,714,470
|
|
Sabine River Authority,
|
|
|
|
|
|
|
|
|
|
PCR (TXU Energy Co. LLC
|
|
|
|
|
|
|
|
|
|
Project)
|
|
6.15
|
|
8/1/22
|
|
2,500,000
|
|
2,716,325
|
|
Texas
|
|
|
|
|
|
|
|
|
|
(Veterans Housing Assistance
|
|
|
|
|
|
|
|
|
|
Program) (Collateralized; FHA)
|
|
6.10
|
|
6/1/31
|
|
7,000,000
|
|
7,377,230
|
|
Utah--.1%
|
|
|
|
|
|
|
|
|
|
Utah Housing Finance Agency,
|
|
|
|
|
|
|
|
|
|
Single Family Mortgage
|
|
|
|
|
|
|
|
|
|
(Collateralized; FHA)
|
|
6.00
|
|
1/1/31
|
|
235,000
|
|
239,315
|
|
Vermont--1.1%
|
|
|
|
|
|
|
|
|
|
Vermont Educational and Health
|
|
|
|
|
|
|
|
|
|
Buildings Financing Agency,
|
|
|
|
|
|
|
|
|
|
Revenue (Saint Michael's
|
|
|
|
|
|
|
|
|
|
College Project)
|
|
6.00
|
|
10/1/28
|
|
1,500,000
|
|
1,676,430
|
|
Vermont Housing Finance Agency,
|
|
|
|
|
|
|
|
|
|
Single Family Housing
|
|
|
|
|
|
|
|
|
|
(Insured; FSA)
|
|
6.40
|
|
11/1/30
|
|
505,000
|
|
508,818
|
|
Washington--2.7%
|
|
|
|
|
|
|
|
|
|
Washington Higher Educational
|
|
|
|
|
|
|
|
|
|
Facilities Authority, Revenue
|
|
|
|
|
|
|
|
|
|
(Whitman College)
|
|
5.88
|
|
10/1/09
|
|
5,000,000 a
|
|
5,301,600
|
|
West Virginia--3.8%
|
|
|
|
|
|
|
|
|
|
Braxton County,
|
|
|
|
|
|
|
|
|
|
SWDR (Weyerhaeuser Co. Project)
|
|
5.80
|
|
6/1/27
|
|
7,450,000
|
|
7,628,651
|
|
Wisconsin--5.1%
|
|
|
|
|
|
|
|
|
|
Badger Tobacco Asset
|
|
|
|
|
|
|
|
|
|
Securitization Corp., Tobacco
|
|
|
|
|
|
|
|
|
|
Settlement Asset-Backed Bonds
|
|
7.00
|
|
6/1/28
|
|
2,500,000
|
|
2,824,550
|
|
Wisconsin Health and Educational
|
|
|
|
|
|
|
|
|
|
Facilities Authority, Revenue
|
|
|
|
|
|
|
|
|
|
(Aurora Health Care, Inc,)
|
|
5.60
|
|
2/15/29
|
|
4,975,000
|
|
5,159,921
|
|
Wisconsin Health and Educational
|
|
|
|
|
|
|
|
|
|
Facilities Authority, Revenue
|
|
|
|
|
|
|
|
|
|
(Marshfield Clinic)
|
|
5.38
|
|
2/15/34
|
|
2,000,000
|
|
2,121,100
|
|
Wyoming--.8%
|
|
|
|
|
|
|
|
|
|
Sweetwater County,
|
|
|
|
|
|
|
|
|
|
SWDR (FMC Corp. Project)
|
|
5.60
|
|
12/1/35
|
|
1,500,000
|
|
1,594,590
|
|
U.S. Related--13.5%
|
|
|
|
|
|
|
|
|
|
Puerto Rico Highway and
|
|
|
|
|
|
|
|
|
|
Transportation Authority,
|
|
|
|
|
|
|
|
|
|
Transportation Revenue
|
|
|
|
|
|
|
|
|
|
(Insured; MBIA)
|
|
5.97
|
|
7/1/38
|
|
8,000,000 b,c
|
|
8,202,920
|
|
Puerto Rico Highway and
|
|
|
|
|
|
|
|
|
|
Transportation Authority,
|
|
|
|
|
|
|
|
|
|
Transportation Revenue
|
|
|
|
|
|
|
|
|
|
(Insured; MBIA)
|
|
5.97
|
|
7/1/38
|
|
10,000,000 b,c
|
|
10,253,650
|
|
Puerto Rico Infrastructure
|
|
|
|
|
|
|
|
|
|
Financing Authority, Special
|
|
|
|
|
|
|
|
|
|
Tax Revenue (Insured; AMBAC)
|
|
5.80
|
|
7/1/15
|
|
8,000,000 b,c
|
|
8,196,800
|
|
Total Long-Term Municipal Investments
|
|
|
|
|
|
|
|
(cost $292,952,947)
|
|
|
|
|
|
|
|
311,371,591
|
|
Short-Term Municipal
|
|
Coupon
|
|
Maturity
|
|
Principal
|
|
|
|
Investments--1.2%
|
|
Rate (%)
|
|
Date
|
|
Amount ($)
|
|
Value ($)
|
|
|
|
|
|
|
|
|
|
|
Alaska--.1%
|
|
|
|
|
|
|
|
|
|
Valdez,
|
|
|
|
|
|
|
|
|
|
Marine Terminal Revenue,
|
|
|
|
|
|
|
|
|
|
Refunding (Exxon Pipeline Co.
|
|
|
|
|
|
|
|
|
|
Project)
|
|
3.90
|
|
1/1/07
|
|
200,000 d
|
|
200,000
|
|
Montana--.2%
|
|
|
|
|
|
|
|
|
|
Montana Facility Finance
|
|
|
|
|
|
|
|
|
|
Authority, Revenue (Sisters of
|
|
|
|
|
|
|
|
|
|
Charity of Leavenworth Health
|
|
|
|
|
|
|
|
|
|
System) (Liquidity Facility;
|
|
|
|
|
|
|
|
|
|
JPMorgan Chase Bank)
|
|
4.00
|
|
1/1/07
|
|
350,000 d
|
|
350,000
|
|
Pennsylvania--.6%
|
|
|
|
|
|
|
|
|
|
Delaware County Industrial
|
|
|
|
|
|
|
|
|
|
Development Authority, PCR (BP
|
|
|
|
|
|
|
|
|
|
Oil Inc. Project)
|
|
3.98
|
|
1/1/07
|
|
100,000 d
|
|
100,000
|
|
Geisinger Authority,
|
|
|
|
|
|
|
|
|
|
Health System Revenue
|
|
|
|
|
|
|
|
|
|
(Geisinger Health System)
|
|
|
|
|
|
|
|
|
|
(Liquidity Facility; Wachovia
|
|
|
|
|
|
|
|
|
|
Bank)
|
|
3.98
|
|
1/1/07
|
|
1,200,000 d
|
|
1,200,000
|
|
Tennessee--.1%
|
|
|
|
|
|
|
|
|
|
Clarksville Public Building
|
|
|
|
|
|
|
|
|
|
|
|
Authority, Pooled Financing
|
|
|
|
|
|
|
|
|
|
|
|
Revenue (Tennessee Municipal
|
|
|
|
|
|
|
|
|
|
|
|
Bond Fund) (LOC; Bank of
|
|
|
|
|
|
|
|
|
|
|
|
America)
|
|
4.00
|
|
1/1/07
|
|
100,000 d
|
|
100,000
|
|
Utah--.2%
|
|
|
|
|
|
|
|
|
|
Weber County,
|
|
|
|
|
|
|
|
|
|
|
|
HR (IHC Health Services)
|
|
|
|
|
|
|
|
|
|
|
|
(Liquidity Facility;
|
|
|
|
|
|
|
|
|
|
|
|
Westdeutsche Landesbank)
|
|
4.00
|
|
1/1/07
|
|
450,000 d
|
|
450,000
|
|
Total Short-Term Municipal Investments
|
|
|
|
|
|
|
|
|
|
|
|
(cost $2,400,000)
|
|
|
|
|
|
|
|
2,400,000
|
|
Total Investments (cost $295,352,947)
|
|
|
|
|
|
157.9%
|
|
313,771,591
|
|
Liabilities, Less Cash and Receivables
|
|
|
|
|
|
(7.6%)
|
|
(15,071,882)
|
|
Preferred Stock, at redemption value
|
|
|
|
|
|
(50.3%)
|
|
(100,000,000)
|
|
Net Assets Applicable to
|
|
|
|
|
|
|
|
|
|
|
|
Common Shareholders
|
|
|
|
|
|
100.0%
|
|
198,699,709
|
|
|
|
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
|
|
Collateral for floating rate borrowings.
|
|
|
|
|
|
|
|
|
|
c
|
|
Securities 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. At December 31, 2006, these securities
|
|
|
|
amounted to $38,315,955 or 19.3% of net assets applicable to common shareholders.
|
|
|
|
d
|
|
Securities payable on demand. Variable interest rate--subject to periodic change.
|
|
|
Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form
N-CSR.
|
Summary of Abbreviations
|
|
|
|
|
|
|
|
|
|
|
ACA
|
|
American Capital Access
|
|
AGC
|
|
ACE Guaranty Corporation
|
|
AGIC
|
|
Asset Guaranty Insurance Company
|
|
AMBAC
|
|
American Municipal
|
|
|
|
|
|
|
|
Bond Assurance Corporation
|
|
ARRN
|
|
Adjustable Rate Receipt Notes
|
|
BAN
|
|
Bond Anticipation Notes
|
|
BIGI
|
|
Bond Investors Guaranty Insurance
|
|
BPA
|
|
Bond Purchase Agreement
|
|
CGIC
|
|
Capital Guaranty Insurance Company
|
|
CIC
|
|
Continental Insurance 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
|
|
PILOT
|
|
Payment In Lieu Of Taxes
|
|
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
|
Item 2. 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-Q 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-Q 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) The Registrant has revised its internal control over financial reporting with respect to investments certain inverse floater structures to account for such investments as secured borrowings and to report the related
income and expense.
Item 3. Exhibits.
(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.
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 MUNICIPAL INCOME, INC.
|
|
|
|
By:
|
|
/s/ J. David Officer
|
|
|
|
J. David Officer
|
|
|
|
President
|
|
|
|
Date:
|
|
February 14, 2007
|
|
|
|
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/ J. David Officer
|
|
|
|
J. David Officer
|
|
|
|
President
|
|
|
|
Date:
|
|
February 14, 2007
|
|
|
|
By:
|
|
/s/ James Windels
|
|
|
|
James Windels
|
|
|
|
Treasurer
|
|
|
|
Date:
|
|
February 14, 2007
|
(a) 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)