formnq.htm - Generated by SEC Publisher for SEC Filing




Washington, D.C.  20549



Investment Company Act file number





Dreyfus Municipal Income, Inc.  



(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)






Michael A. Rosenberg, 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:




Date of reporting period:









Item 1.                        Schedule of Investments.



Dreyfus Municipal Income, Inc.           
December 31, 2010 (Unaudited)           
Long-Term Municipal  Coupon  Maturity  Principal    
Investments--152.3%  Rate (%)  Date  Amount ($)   Value ($) 
Barclays Capital Municipal Trust           
Receipts (Salt River Project           
Agricultural Improvement and           
Power District, Salt River           
Project Electric System           
Revenue)  5.00  1/1/38  10,000,000 a,b  9,992,600 
City of Phoenix, County of           
Maricopa and the County of           
Pima Industrial Development           
Authorities, SFMR           
(Collateralized: FHLMC, FNMA           
and GNMA)  5.80  12/1/39  1,405,000   1,431,920 
Glendale Western Loop 101 Public           
Facilities Corporation, Third           
Lien Excise Tax Revenue  6.25  7/1/28  1,000,000   1,034,570 
Glendale Western Loop 101 Public           
Facilities Corporation, Third           
Lien Excise Tax Revenue  7.00  7/1/28  2,000,000   2,112,160 
Pima County Industrial Development           
Authority, Education Revenue           
(American Charter Schools           
Foundation Project)  5.63  7/1/38  2,000,000   1,660,060 
Pima County Industrial Development           
Authority, IDR (Tucson           
Electric Power Company Project)  5.25  10/1/40  1,000,000   877,700 
Pinal County Electrical District           
Number 4, Electric System           
Revenue  6.00  12/1/38  2,300,000   2,175,156 
ABAG Financial Authority for           
Nonprofit Corporations,           
Insured Revenue, COP (Odd           



Fellows Home of California)  6.00  8/15/24  5,000,000 c  5,115,900 
Barclays Capital Municipal Trust           
Receipts (California           
Infrastructure and Economic           
Development Bank, Revenue           
(Sanford Consortium Project))  5.00  5/15/40  10,000,000 a,b,c   9,707,300 
GO (Various Purpose)  5.75  4/1/31  3,950,000   3,989,618 
GO (Various Purpose)  5.00  11/1/32  1,500,000   1,382,865 
GO (Various Purpose)  6.50  4/1/33  3,000,000   3,220,140 
GO (Various Purpose)  6.00  11/1/35  2,500,000   2,566,075 
California Health Facilities           
Financing Authority, Revenue           
(Sutter Health)  6.25  8/15/35  2,500,000 c  2,508,550 
Chabot-Las Positas Community           
College District, GO (Insured;           
AMBAC)  0.00  8/1/32  6,000,000 d  1,403,100 
Chula Vista,           
IDR (San Diego Gas and           
Electric Company)  5.88  2/15/34  2,000,000   2,124,580 
Golden State Tobacco           
Securitization Corporation,           
Tobacco Settlement           
Asset-Backed Bonds  5.00  6/1/33  2,500,000   1,725,850 
Golden State Tobacco           
Securitization Corporation,           
Tobacco Settlement           
Asset-Backed Bonds           
(Prerefunded)  7.80  6/1/13  3,000,000 e  3,458,490 
Sacramento County,           
Airport System Subordinate and           
Passenger Facility Charges           
Grant Revenue  6.00  7/1/35  2,250,000   2,323,957 
San Diego Public Facilities           
Financing Authority, Senior           
Sewer Revenue  5.25  5/15/34  1,000,000   1,015,500 
San Francisco City and County           



Public Utilities Commission,           
San Francisco Water Revenue  5.00  11/1/29  2,210,000   2,229,492 
Tobacco Securitization Authority           
of Southern California,           
Tobacco Settlement           
Asset-Backed Bonds (San Diego           
County Tobacco Asset           
Securitization Corporation)  5.00  6/1/37  3,500,000   2,424,485 
Tuolumne Wind Project Authority,           
Revenue (Tuolumne Company           
Project)  5.88  1/1/29  1,500,000   1,586,175 
Colorado Educational and Cultural           
Facilities Authority, Charter           
School Revenue (American           
Academy Project)  8.00  12/1/40  1,500,000   1,695,375 
Colorado Health Facilities           
Authority, Health Facilities           
Revenue (The Evangelical           
Lutheran Good Samaritan           
Society Project)  6.13  6/1/38  2,525,000 c  2,544,518 
Colorado Springs,           
HR  6.38  12/15/30  2,890,000 c  2,872,140 
E-470 Public Highway Authority,           
Senior Revenue  5.25  9/1/25  1,000,000   915,570 
University of Colorado Regents,           
University Enterprise Revenue  5.38  6/1/38  1,500,000   1,534,575 
Greater Orlando Aviation           
Authority, Airport Facilities           
Revenue  6.25  10/1/20  3,980,000   4,451,073 
Miami-Dade County,           
Aviation Revenue  5.00  10/1/41  2,500,000   2,256,625 
Orange County School Board,           
COP (Master Lease Purchase           
Agreement) (Insured; Assured           
Guaranty Municipal Corp.)  5.50  8/1/34  2,000,000   2,047,280 
Saint Johns County Industrial           
Development Authority, Revenue           
(Presbyterian Retirement           



Communities Project)  5.88  8/1/40  2,500,000   2,446,675 
South Lake County Hospital           
District, Revenue (South Lake           
Hospital, Inc.)  6.25  4/1/39  1,000,000 c  993,060 
Water and Wastewater Revenue  6.00  11/1/28  3,000,000   3,186,570 
Water and Wastewater Revenue           
(Insured; Assured Guaranty           
Municipal Corp.)  5.25  11/1/34  1,750,000   1,717,205 
Hawaii Department of Budget and           
Finance, Special Purpose           
Revenue (Hawai'i Pacific           
Health Obligated Group)  5.75  7/1/40  2,795,000 c  2,687,700 
Hawaii Department of Budget and           
Finance, Special Purpose           
Revenue (Hawaiian Electric           
Company, Inc. and Subsidiary           
Projects)  6.50  7/1/39  2,400,000   2,488,680 
Railsplitter Tobacco Settlement           
Authority, Tobacco Settlement           
Revenue  6.00  6/1/28  2,000,000   1,968,080 
Indianapolis Local Public           
Improvement Bond Bank, Revenue           
(Indianapolis Airport           
Authority Project) (Insured;           
AMBAC)  5.00  1/1/36  2,500,000   2,227,175 
Louisiana Public Facilities           
Authority, Revenue (CHRISTUS           
Health Obligated Group)  6.13  7/1/29  1,000,000 c  1,034,440 
Maryland Economic Development           
Corporation, EDR           
(Transportation Facilities           
Project)  5.75  6/1/35  1,000,000   944,900 



Maryland Economic Development           
Corporation, PCR (Potomac           
Electric Project)  6.20  9/1/22  2,500,000   2,822,750 
Maryland Economic Development           
Corporation, Student Housing           
Revenue (University of           
Maryland, College Park           
Project) (Prerefunded)  5.63  6/1/13  2,000,000 e  2,224,120 
Barclays Capital Municipal Trust           
Receipts (Massachusetts Health           
and Educational Facilities           
Authority, Revenue (Harvard           
University Issue))  5.00  12/15/34  10,000,000 a,b  10,279,600 
Barclays Capital Municipal Trust           
Receipts (Massachusetts Health           
and Educational Facilities           
Authority, Revenue           
(Massachusetts Institute of           
Technology Issue))  5.00  7/1/38  10,000,000 a,b  10,158,000 
Massachusetts Health and           
Educational Facilities           
Authority, Healthcare System           
Revenue (Covenant Health           
Systems Obligated Group Issue)  6.00  7/1/31  1,970,000   1,986,095 
Massachusetts Health and           
Educational Facilities           
Authority, Revenue (Suffolk           
University Issue)  6.25  7/1/30  2,000,000   2,070,580 
Massachusetts Housing Finance           
Agency, Rental Housing           
Mortgage Revenue (Insured;           
AMBAC)  5.50  7/1/40  2,230,000   1,791,627 
Massachusetts Industrial Finance           
Agency, Water Treatment           
Hingham Project)  6.95  12/1/35  5,235,000   5,136,791 
Sewage Disposal System Senior           



Lien Revenue (Insured; Assured           
Guaranty Municipal Corp.)  7.50  7/1/33  2,140,000   2,473,904 
Michigan Hospital Finance           
Authority, HR (Henry Ford           
Health System)  5.00  11/15/38  1,515,000 c  1,318,353 
Michigan Strategic Fund,           
SWDR (Genesee Power Station           
Project)  7.50  1/1/21  4,185,000   3,872,966 
Royal Oak Hospital Finance           
Authority, HR (William           
Beaumont Hospital Obligated           
Group)  8.00  9/1/29  2,500,000 c  2,877,975 
Wayne County Airport Authority,           
Airport Revenue (Detroit           
Metropolitan Wayne County           
Airport) (Insured; National           
Public Finance Guarantee Corp.)  5.00  12/1/34  3,000,000   2,493,840 
Health Care System Revenue           
(Fairview Health Services)  6.75  11/15/32  3,000,000 c  3,238,740 
Minnesota Agricultural and           
Economic Development Board,           
Health Care System Revenue           
(Fairview Health Care Systems)  6.38  11/15/29  80,000 c  80,358 
Mississippi Business Finance           
Corporation, PCR (System           
Energy Resources, Inc. Project)  5.88  4/1/22  6,000,000   5,904,000 
Missouri Housing Development           
Commission, SFMR           
(Homeownership Loan Program)           
(Collateralized: FNMA and GNMA)  6.30  9/1/25  70,000   71,379 
Clark County,           
IDR (Southwest Gas Corporation           
Project) (Insured; AMBAC)  6.10  12/1/38  4,000,000   3,999,760 
New Hampshire--1.2%           
New Hampshire Business Finance           



Authority, PCR (Public Service         
Company of New Hampshire         
Project) (Insured; AMBAC)  6.00  5/1/21  2,135,000  2,146,209 
New Jersey--4.5%         
New Jersey Economic Development         
Authority, Water Facilities         
Revenue (New Jersey - American         
Water Company, Inc. Project)  5.70  10/1/39  2,000,000  1,962,660 
New Jersey Higher Education         
Student Assistance Authority,         
Student Loan Revenue (Insured;         
Assured Guaranty Municipal         
Corp.)  6.13  6/1/30  2,500,000  2,543,900 
Tobacco Settlement Financing         
Corporation of New Jersey,         
Tobacco Settlement         
Asset-Backed Bonds  5.00  6/1/29  5,000,000  3,655,050 
New Mexico--1.6%         
PCR (Public Service Company of         
New Mexico San Juan Project)  5.90  6/1/40  3,000,000  2,869,380 
New York--1.7%         
New York City Industrial         
Development Agency, PILOT         
Revenue (Yankee Stadium         
Project) (Insured; Assured         
Guaranty Municipal Corp.)  7.00  3/1/49  1,435,000  1,580,796 
Port Authority of New York and New         
Jersey, Special Project         
Revenue (JFK International Air         
Terminal LLC Project)  6.00  12/1/36  1,500,000  1,490,160 
North Carolina--3.1%         
Barclays Capital Municipal Trust         
Receipts (North Carolina         
Medical Care Commission,         
Health Care Facilities Revenue         
(Duke University Health         
System))  5.00  6/1/42  5,000,000 a,b,c  4,838,300 
North Carolina Housing Finance         
Agency, Home Ownership Revenue  6.25  1/1/29  830,000  830,498 



Butler County,           
Hospital Facilities Revenue           
(UC Health)  5.50  11/1/40  2,500,000 c  2,250,700 
Ohio Air Quality Development           
Authority, Air Quality Revenue           
(Ohio Valley Electric           
Corporation Project)  5.63  10/1/19  2,100,000   2,166,381 
Toledo-Lucas County Port           
Authority, Special Assessment           
Revenue (Crocker Park Public           
Improvement Project)  5.38  12/1/35  2,000,000   1,631,260 
Delaware County Industrial           
Development Authority, Charter           
School Revenue (Chester           
Community Charter School           
Project)  6.13  8/15/40  2,500,000   2,285,825 
Lancaster Higher Education           
Authority, College Revenue           
(Franklin and Marshall College           
Project)  5.00  4/15/37  2,000,000   1,912,520 
Pennsylvania Economic Development           
Financing Authority, RRR           
(Northampton Generating           
Project)  6.60  1/1/19  3,500,000   1,936,550 
Sayre Health Care Facilities           
Authority, Revenue (Guthrie           
Health)  5.88  12/1/31  1,755,000 c  1,765,144 
Rhode Island--1.1%           
Tobacco Settlement Financing           
Corporation of Rhode Island,           
Tobacco Settlement           
Asset-Backed Bonds  6.13  6/1/32  2,000,000   1,961,340 
South Carolina--7.0%           
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   4,903,000 



South Carolina Public Service           
Authority, Revenue Obligations  5.50  1/1/38  3,000,000   3,131,070 
Tobacco Settlement Revenue           
Management Authority of South           
Carolina, Tobacco Settlement           
Asset-Backed Bonds  6.38  5/15/30  3,750,000   4,586,775 
Johnson City Health and           
Educational Facilities Board,           
Hospital First Mortgage           
Revenue (Mountain States           
Health Alliance)  5.50  7/1/36  1,150,000 c  1,032,654 
Barclays Capital Municipal Trust           
Receipts (Texas A&M University           
System Board of Regents,           
Financing System Revenue)  5.00  5/15/39  5,000,000 a,b  5,001,550 
La Vernia Higher Education Finance           
Corporation, Education Revenue           
(Knowledge is Power Program,           
Inc.)  6.25  8/15/39  2,250,000   2,199,982 
Lubbock Educational Facilities           
Authority, Improvement Revenue           
(Lubbock Christian University)  5.25  11/1/37  1,500,000   1,339,770 
North Texas Tollway Authority,           
First Tier System Revenue           
(Insured; Assured Guaranty           
Municipal Corp.)  5.75  1/1/40  4,000,000   4,076,040 
North Texas Tollway Authority,           
Second Tier System Revenue  5.75  1/1/38  4,000,000   3,785,520 
Utah Housing Finance Agency,           
SFMR (Collateralized; FHA)  6.00  1/1/31  30,000   30,148 
Vermont Educational and Health           
Buildings Financing Agency,           
Revenue (Saint Michael's           
College Project)  6.00  10/1/28  1,500,000   1,526,205 
Vermont Housing Finance Agency,           
SFHR (Insured; Assured           



Guaranty Municipal Corp.)  6.40  11/1/30  240,000   244,836 
Washington County Industrial           
Development Authority, HR           
(Mountain States Health           
Alliance)  7.25  7/1/19  2,000,000 c  2,247,680 
Washington Health Care Facilities           
Authority, Mortgage Revenue           
(Highline Medical Center)           
(Collateralized; FHA)  6.25  8/1/36  3,000,000 c  3,130,260 
Washington Health Care Facilities           
Authority, Revenue (Catholic           
Health Initiatives)  6.38  10/1/36  1,500,000 c  1,602,225 
Washington Housing Finance           
Commission, Revenue           
(Single-Family Program)           
(Collateralized: FHLMC, FNMA           
and GNMA)  5.15  6/1/37  3,160,000   2,948,470 
West Virginia--.5%           
The County Commission of Harrison           
County, SWDR (Allegheny Energy           
Supply Company, LLC Harrison           
Station Project)  5.50  10/15/37  1,000,000   893,470 
Wisconsin Health and Educational           
Facilities Authority, Revenue           
(Aurora Health Care, Inc.)  5.60  2/15/29  4,780,000 c  4,758,108 
Sweetwater County,           
SWDR (FMC Corporation Project)  5.60  12/1/35  1,500,000   1,358,670 
Wyoming Municipal Power Agency,           
Power Supply System Revenue  5.50  1/1/38  2,000,000   2,024,300 
U.S. Related--10.5%           
Government of Guam,           
LOR (Section 30)  5.75  12/1/34  1,500,000   1,463,760 
Puerto Rico Commonwealth,           
Public Improvement GO  5.50  7/1/32  1,000,000   972,980 
Puerto Rico Commonwealth,           



Public Improvement GO  6.00  7/1/39  1,500,000   1,517,910  
Puerto Rico Electric Power             
Authority, Power Revenue  5.00  7/1/37  1,945,000   1,755,110  
Puerto Rico Electric Power             
Authority, Power Revenue  5.50  7/1/38  5,400,000   5,236,326  
Puerto Rico Electric Power             
Authority, Power Revenue  5.25  7/1/40  1,500,000   1,400,100  
Puerto Rico Sales Tax Financing             
Corporation, Sales Tax Revenue             
(First Subordinate Series)  5.38  8/1/39  1,000,000   963,920  
Puerto Rico Sales Tax Financing             
Corporation, Sales Tax Revenue             
(First Subordinate Series)  6.00  8/1/42  5,500,000   5,621,715  
Total Long-Term Municipal Investments           
(cost $275,153,104)          274,457,949  
Short-Term Municipal  Coupon  Maturity  Principal      
Investment--.8%  Rate (%)  Date  Amount ($)   Value ($)  
New York;             
New York City,             
GO Notes (LOC; JPMorgan Chase           
(cost $1,400,000)  0.28  1/1/11  1,400,000 f  1,400,000  
Total Investments (cost $276,553,104)    153.1%   275,857,949  
Liabilities, Less Cash and Receivables    (11.5%)   (20,695,462)  
Preferred Stock, at redemption value    (41.6%)   (75,000,000)  
Net Assets Applicable to Common Shareholders    100.0%   180,162,487  


a Collateral for floating rate borrowings. 
b 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, 2010, these securities 
had a market value of $49,977,350 or 27.7% of net assets applicable to Common Shareholders. 
c At December 31, 2010, the fund had $56,604,105 or 31.4% of net assets applicable to Common Shareholders invested in 
securities whose payment of principal and interest is dependent upon revenues generated from health care. 
d Security issued with a zero coupon. Income is recognized through the accretion of discount. 
e 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. 
f Variable rate demand note - rate shown is the interest rate in effect at December 31, 2010. Maturity date represents the 
next demand date, or the ultimate maturity date if earlier. 



At December 31, 2010, the aggregate cost of investment securities for income tax purposes was $276,553,104. Net unrealized depreciation on investments was $695,155 of which $7,627,431 related to appreciated investment securities and $8,322,586 related to depreciated investment securities.

Summary of Abbreviations     
ABAG  Association of Bay Area Governments  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  BPA  Bond Purchase Agreement 
CIFG  CDC Ixis Financial Guaranty  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 
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  MFHR  Multi-Family Housing Revenue 
MFMR  Multi-Family Mortgage Revenue  PCR  Pollution Control Revenue 
PILOT  Payment in Lieu of Taxes  PUTTERS  Puttable Tax-Exempt Receipts 



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 



Various inputs are used in determining the value of the fund's investments relating to fair value measurements.

These inputs are summarized in the three broad levels listed below.

Level 1 - unadjusted quoted prices in active markets for identical investments.
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds,
credit risk, etc.).
Level 3 - significant unobservable inputs (including the fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used as of December 31, 2010 in valuing the fund's investments:

  Level 1 - Unadjusted Quoted  Level 2 - Other Significant  Level 3 -Significant   
Assets ($)  Prices  Observable Inputs  Unobservable Inputs  Total 
Investments in Securities:         
Municipal Bonds  -  275,857,949  -  275,857,949 



The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

Portfolio valuation: Investments in municipal debt securities are

     0 pendent pricing service (the “Service”) approved by the Board of Directors. 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 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 the last business day of each week and month.

The fund adopted the provisions of ASC Topic 815 “Derivatives and Hedging” which requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments and disclosures about credit-risk-related contingent features in derivative agreements. The fund held no derivatives during the period ended December 31, 2010.

Additional 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.



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)        There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting. 

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/Bradley J. Skapyak

            Bradley J. Skapyak




February 23, 2011


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/ Bradley J. Skapyak

            Bradley J. Skapyak




February 23, 2011


By:       /s/ James Windels

            James Windels




February 23, 2011



(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)