formnq-424.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.         
June 30, 2011 (Unaudited)         
Long-Term Municipal  Coupon  Maturity  Principal   
Investments--151.4%  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  9,998,763 a,b  10,246,713 
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  1,135,000  1,139,619 
Glendale Western Loop 101 Public         
Facilities Corporation, Third         
Lien Excise Tax Revenue  6.25  7/1/28  1,000,000  1,038,230 
Glendale Western Loop 101 Public         
Facilities Corporation, Third         
Lien Excise Tax Revenue  7.00  7/1/28  2,000,000  2,112,980 
Pima County Industrial Development         
Authority, Education Revenue         
(American Charter Schools         
Foundation Project)  5.63  7/1/38  2,000,000  1,674,740 
Pima County Industrial Development         
Authority, IDR (Tucson         
Electric Power Company Project)  5.75  9/1/29  1,000,000  1,007,460 
Pinal County Electrical District         
Number 4, Electric System         
Revenue  6.00  12/1/38  2,300,000  2,313,524 
ABAG Financial Authority for         
Nonprofit Corporations,         
Insured Revenue, COP (Odd         


Fellows Home of California)  6.00  8/15/24  5,000,000 c  5,116,500 
GO (Various Purpose)  5.75  4/1/31  3,950,000  4,223,182 
GO (Various Purpose)  6.00  3/1/33  1,250,000  1,355,725 
GO (Various Purpose)  6.50  4/1/33  3,000,000  3,337,920 
GO (Various Purpose)  6.00  11/1/35  2,500,000  2,685,275 
California Health Facilities         
Financing Authority, Revenue         
(Sutter Health)  6.25  8/15/35  2,500,000 c  2,502,750 
Chula Vista,         
IDR (San Diego Gas and         
Electric Company)  5.88  2/15/34  2,000,000  2,139,500 
Golden State Tobacco         
Securitization Corporation,         
Tobacco Settlement         
Asset-Backed Bonds  4.50  6/1/27  1,000,000  833,050 
Golden State Tobacco         
Securitization Corporation,         
Tobacco Settlement         
Asset-Backed Bonds         
(Prerefunded)  7.80  6/1/13  3,000,000 d  3,414,450 
JPMorgan Chase Putters/Drivers         
Trust (Los Angeles Departments         
of Airports, Senior Revenue         
(Los Angeles International         
Airport))  5.25  5/15/18  10,000,000 a,b  10,629,800 
Sacramento County,         
Airport System Subordinate and         
Passenger Facility Charges         
Grant Revenue  6.00  7/1/35  2,250,000  2,345,805 
San Diego Public Facilities         
Financing Authority, Senior         
Sewer Revenue  5.25  5/15/34  1,000,000  1,034,800 
San Francisco City and County         
Public Utilities Commission,         
San Francisco Water Revenue  5.00  11/1/29  2,210,000  2,329,163 
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  2,412,760 
Tuolumne Wind Project Authority,         
Revenue (Tuolumne Company         
Project)  5.88  1/1/29  1,500,000  1,631,595 
Colorado Educational and Cultural         
Facilities Authority, Charter         
School Revenue (American         
Academy Project)  8.00  12/1/40  1,500,000  1,724,070 
Colorado Health Facilities         
Authority, Health Facilities         
Revenue (The Evangelical         
Lutheran Good Samaritan         
Society Project)  6.13  6/1/38  2,525,000 c  2,529,848 
Colorado Springs,         
HR  6.38  12/15/30  2,890,000 c  2,895,144 
E-470 Public Highway Authority,         
Senior Revenue  5.25  9/1/25  1,000,000  941,740 
University of Colorado Regents,         
University Enterprise Revenue  5.38  6/1/38  1,500,000  1,564,740 
Department of Transportation         
Right-of-Way Acquisition and         
Bridge Constuction Bonds  5.00  7/1/24  1,500,000  1,657,815 
Greater Orlando Aviation         
Authority, Airport Facilities         
Revenue  6.25  10/1/20  3,980,000  4,614,173 
Mid-Bay Bridge Authority,         
Springing Lien Revenue  7.25  10/1/34  2,500,000  2,560,950 
Orange County School Board,         
COP (Master Lease Purchase         
Agreement) (Insured; Assured         
Guaranty Municipal Corp.)  5.50  8/1/34  2,000,000  2,050,380 
Palm Beach County Health         
Facilities Authority, Revenue         


(The Waterford Project)  5.88  11/15/37  2,400,000 c  2,211,720 
Saint Johns County Industrial         
Development Authority, Revenue         
(Presbyterian Retirement         
Communities Project)  5.88  8/1/40  2,500,000  2,340,050 
South Lake County Hospital         
District, Revenue (South Lake         
Hospital, Inc.)  6.25  4/1/39  1,000,000 c  999,880 
Water and Wastewater Revenue  6.00  11/1/28  3,000,000  3,271,620 
Water and Wastewater Revenue         
(Insured; Assured Guaranty         
Municipal Corp.)  5.25  11/1/34  1,750,000  1,787,188 
Hawaii Department of Budget and         
Finance, Special Purpose         
Revenue (Hawaiian Electric         
Company, Inc. and Subsidiary         
Projects)  6.50  7/1/39  2,400,000  2,492,040 
General Airport Third Lien         
Revenue (Chicago O'Hare         
International Airport)  5.63  1/1/35  1,000,000  1,023,640 
GO  5.00  3/1/28  1,500,000  1,493,190 
Railsplitter Tobacco Settlement         
Authority, Tobacco Settlement         
Revenue  6.00  6/1/28  2,000,000  2,034,260 
University of Illinois Board of         
Trustees, Auxiliary Facilities         
System Revenue  5.13  4/1/36  1,000,000  982,030 
Indianapolis Local Public         
Improvement Bond Bank, Revenue         
(Indianapolis Airport         
Authority Project) (Insured;         
AMBAC)  5.00  1/1/36  2,500,000  2,287,375 


Louisiana Public Facilities         
Authority, Revenue (CHRISTUS         
Health Obligated Group)  6.13  7/1/29  1,000,000 c  1,061,270 
Maryland Economic Development         
Corporation, EDR         
(Transportation Facilities         
Project)  5.75  6/1/35  1,000,000  968,410 
Maryland Economic Development         
Corporation, PCR (Potomac         
Electric Project)  6.20  9/1/22  2,500,000  2,923,500 
Maryland Economic Development         
Corporation, Student Housing         
Revenue (University of         
Maryland, College Park         
Project) (Prerefunded)  5.63  6/1/13  2,000,000 d  2,198,720 
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  10,332,200 
Massachusetts Development Finance         
Agency, Revenue (Tufts Medical         
Center Issue)  7.25  1/1/32  1,500,000 c  1,619,655 
Massachusetts Health and         
Educational Facilities         
Authority, Healthcare System         
Revenue (Covenant Health         
Systems Obligated Group Issue)  6.00  7/1/31  1,970,000  1,987,257 
Massachusetts Health and         
Educational Facilities         
Authority, Revenue (Suffolk         
University Issue)  6.25  7/1/30  2,000,000  2,115,940 
Massachusetts Housing Finance         
Agency, Rental Housing         
Mortgage Revenue (Insured;         
AMBAC)  5.50  7/1/40  2,230,000  1,930,221 


Massachusetts Industrial Finance         
Agency, Water Treatment         
Hingham Project)  6.95  12/1/35  5,235,000  5,203,538 
Sewage Disposal System Senior         
Lien Revenue (Insured; Assured         
Guaranty Municipal Corp.)  7.50  7/1/33  2,140,000  2,505,469 
Michigan Hospital Finance         
Authority, HR (Henry Ford         
Health System)  5.00  11/15/38  1,515,000 c  1,347,729 
Michigan Strategic Fund,         
SWDR (Genesee Power Station         
Project)  7.50  1/1/21  3,885,000  3,617,945 
Royal Oak Hospital Finance         
Authority, HR (William         
Beaumont Hospital Obligated         
Group)  8.00  9/1/29  2,500,000 c  2,888,325 
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  2,623,380 
Health Care System Revenue         
(Fairview Health Services)  6.75  11/15/32  3,000,000 c  3,258,660 
Minnesota Agricultural and         
Economic Development Board,         
Health Care System Revenue         
(Fairview Health Care Systems)  6.38  11/15/29  80,000 c  80,274 
Mississippi Business Finance         
Corporation, PCR (System         
Energy Resources, Inc. Project)  5.88  4/1/22  6,000,000  6,007,140 
Missouri Housing Development         
Commission, SFMR         


(Homeownership Loan Program)         
(Collateralized: FNMA and GNMA)  6.30  9/1/25  70,000  71,429 
Clark County,         
IDR (Southwest Gas Corporation         
Project) (Insured; AMBAC)  6.10  12/1/38  4,000,000  4,005,120 
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  2,014,460 
New Jersey Higher Education         
Student Assistance Authority,         
Student Loan Revenue (Insured;         
Assured Guaranty Municipal         
Corp.)  6.13  6/1/30  2,500,000  2,575,025 
Tobacco Settlement Financing         
Corporation of New Jersey,         
Tobacco Settlement         
Asset-Backed Bonds  5.00  6/1/29  5,000,000  3,847,850 
New Mexico--1.5%         
PCR (Public Service Company of         
New Mexico San Juan Project)  5.90  6/1/40  3,000,000  2,879,880 
New York--7.2%         
Barclays Capital Municipal Trust         
Receipts (New York City         
Transitional Finance         
Authority, Future Tax Secured         
Revenue)  5.00  5/1/30  7,996,797 a,b  8,482,837 
New York City Educational         
Construction Fund, Revenue  6.50  4/1/28  1,500,000  1,752,030 
New York City Industrial         
Development Agency, PILOT         
Revenue (Yankee Stadium         
Project) (Insured; Assured         
Guaranty Municipal Corp.)  7.00  3/1/49  1,435,000  1,587,627 
Port Authority of New York and New         
Jersey, Special Project Bonds         
(JFK International Air         


Terminal LLC Project)  6.00  12/1/36  1,500,000  1,524,720 
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  5,021,250 
North Carolina Housing Finance         
Agency, Home Ownership Revenue  6.25  1/1/29  775,000  775,605 
Butler County,         
Hospital Facilities Revenue         
(UC Health)  5.50  11/1/40  2,500,000 c  2,215,575 
Ohio Air Quality Development         
Authority, Air Quality Revenue         
(Ohio Valley Electric         
Corporation Project)  5.63  10/1/19  2,100,000  2,218,209 
Toledo-Lucas County Port         
Authority, Special Assessment         
Revenue (Crocker Park Public         
Improvement Project)  5.38  12/1/35  2,000,000  1,681,380 
Delaware County Industrial         
Development Authority, Charter         
School Revenue (Chester         
Community Charter School         
Project)  6.13  8/15/40  2,500,000  2,289,925 
JPMorgan Chase Putters/Drivers         
Trust (Geisinger Authority,         
Health System Revenue         
(Geisinger Health System))  5.13  6/1/35  2,000,000 a,b,c  2,020,840 
Pennsylvania Economic Development         
Financing Authority, RRR         
(Northampton Generating         
Project)  6.60  1/1/19  3,500,000  1,954,820 
GO  6.50  8/1/41  1,750,000  1,882,668 
Sayre Health Care Facilities         
Authority, Revenue (Guthrie         


Health)  5.88  12/1/31  1,755,000 c  1,771,637 
Rhode Island--1.1%         
Tobacco Settlement Financing         
Corporation of Rhode Island,         
Tobacco Settlement         
Asset-Backed Bonds  6.13  6/1/32  2,000,000  2,002,680 
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  5,049,850 
South Carolina Public Service         
Authority, Revenue Obligations  5.50  1/1/38  3,000,000  3,200,040 
Tobacco Settlement Revenue         
Management Authority of South         
Carolina, Tobacco Settlement         
Asset-Backed Bonds  6.38  5/15/30  3,750,000  4,751,513 
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  5,201,450 
Airport System Subordinate         
Lien Revenue  5.00  7/1/25  1,300,000  1,291,602 
La Vernia Higher Education Finance         
Corporation, Education Revenue         
(Knowledge is Power Program,         
Inc.)  6.25  8/15/39  2,250,000  2,298,600 
Lubbock Educational Facilities         
Authority, Improvement Revenue         
(Lubbock Christian University)  5.25  11/1/37  1,500,000  1,346,430 
North Texas Tollway Authority,         
First Tier System Revenue         
(Insured; Assured Guaranty         
Municipal Corp.)  5.75  1/1/40  4,000,000  4,112,320 
North Texas Tollway Authority,         
Second Tier System Revenue  5.75  1/1/38  4,000,000  4,006,440 


Utah Housing Finance Agency,         
SFMR (Collateralized; FHA)  6.00  1/1/31  10,000  10,045 
Vermont Educational and Health         
Buildings Financing Agency,         
Revenue (Saint Michael's         
College Project)  6.00  10/1/28  1,500,000  1,516,320 
Vermont Housing Finance Agency,         
SFHR (Insured; Assured         
Guaranty Municipal Corp.)  6.40  11/1/30  225,000  229,723 
Washington County Industrial         
Development Authority, HR         
(Mountain States Health         
Alliance)  7.25  7/1/19  2,000,000 c  2,260,180 
Washington Health Care Facilities         
Authority, Mortgage Revenue         
(Highline Medical Center)         
(Collateralized; FHA)  6.25  8/1/36  2,990,000 c  3,226,270 
Washington Health Care Facilities         
Authority, Revenue (Catholic         
Health Initiatives)  6.38  10/1/36  1,500,000 c  1,612,710 
Washington Housing Finance         
Commission, Revenue         
(Single-Family Program)         
(Collateralized: FHLMC, FNMA         
and GNMA)  5.15  6/1/37  3,160,000  3,089,121 
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  932,930 
Wisconsin Health and Educational         
Facilities Authority, Revenue         
(Aurora Health Care, Inc.)  5.60  2/15/29  4,780,000 c  4,780,335 
Wyoming Municipal Power Agency,         
Power Supply System Revenue  5.50  1/1/38  2,000,000  2,049,920 


U.S. Related--10.1%         
Government of Guam,         
LOR (Section 30)  5.75  12/1/34  1,500,000  1,494,180 
Puerto Rico Commonwealth,         
Public Improvement GO  5.50  7/1/32  1,000,000  973,300 
Puerto Rico Commonwealth,         
Public Improvement GO  6.50  7/1/40  1,000,000  1,073,760 
Puerto Rico Electric Power         
Authority, Power Revenue  5.00  7/1/37  1,945,000  1,808,772 
Puerto Rico Electric Power         
Authority, Power Revenue  5.50  7/1/38  5,400,000  5,384,934 
Puerto Rico Electric Power         
Authority, Power Revenue  5.25  7/1/40  1,500,000  1,439,655 
Puerto Rico Sales Tax Financing         
Corporation, Sales Tax Revenue         
(First Subordinate Series)  5.38  8/1/39  1,000,000  989,230 
Puerto Rico Sales Tax Financing         
Corporation, Sales Tax Revenue         
(First Subordinate Series)  6.00  8/1/42  5,500,000  5,739,195 
Total Long-Term Municipal Investments         
(cost $273,765,391)        282,101,419 
Short-Term Municipal  Coupon  Maturity  Principal   
Investments--1.8%  Rate (%)  Date  Amount ($)  Value ($) 
GO Notes         
(LOC: California State         
Teachers Retirement System and         
Citibank NA)  0.03  7/1/11  2,400,000 e  2,400,000 
Irvine Assessment District Number         
03-19, Limited Obligation         
Improvement Bonds (LOC:         
California State Teachers         
Retirement System and U.S.         
Bank NA)  0.04  7/1/11  1,000,000 e  1,000,000 
Total Short-Term Municipal Investments         
(cost $3,400,000)        3,400,000 


Total Investments (cost $277,165,391)  153.2%  285,501,419 
Liabilities, Less Cash and Receivables  (13.0%)  (24,174,622) 
Preferred Stock, at redemption value  (40.2%)  (75,000,000) 
Net Assets Applicable to Common Shareholders  100.0%  186,326,797 


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 June 30, 2011, these securities 
  were valued at $51,935,090 or 27.9% of net assets applicable to Common Shareholders. 
c  At June 30, 2011, the fund had $49,420,552 or 26.5% 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  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. 
e  Variable rate demand note - rate shown is the interest rate in effect at June 30, 2011. Maturity date represents the next 
  demand date, or the ultimate maturity date if earlier. 


At June 30, 2011, the aggregate cost of investment securities for income tax purposes was $277,165,391. Net unrealized appreciation on investments was $8,336,028 of which $12,280,060 related to appreciated investment securities and $3,944,032 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 June 30, 2011 in valuing the fund's investments:

      Level 3 -   
    Level 2 - Other  Significant   
  Level 1 - Unadjusted  Significant Observable  Unobservable   
Assets ($)  Quoted Prices  Inputs  Inputs  Total 
Investments in Securities:         
Municipal Bonds   - 285,501,419  -  285,501,419 


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 valued on the last business day of each week and month by an independent 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.

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




August 19, 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




August 19, 2011


By:       /s/ James Windels

            James Windels




August 19, 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)