formnq852.htm - Generated by SEC Publisher for SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
INVESTMENT COMPANY

Investment Company Act file number 811-5877

Dreyfus Strategic Municipal Bond Fund, 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:  11/30   
Date of reporting period:  2/28/09   


FORM N-Q

Item 1. Schedule of Investments.

 

-2-


STATEMENT OF INVESTMENTS       
Dreyfus Strategic Municipal Bond Fund, Inc.       
February 28, 2009 (Unaudited)         
 
Long-Term Municipal  Coupon  Maturity  Principal   
Investments--148.3%  Rate (%)  Date  Amount ($)  Value ($) 
Alaska--4.7%         
Alaska Housing Finance         
       Corporation, General Mortgage         
       Revenue (Insured; MBIA, Inc.)               6.05  6/1/39         11,915,000  11,922,626 
Alaska Housing Finance         
       Corporation, Single-Family         
       Residential Mortgage Revenue         
       (Veterans Mortgage Program)               6.25  6/1/35           3,975,000  4,006,204 
Arizona--2.7%         
Glendale Western Loop 101 Public         
       Facilities Corporation, Third         
       Lien Excise Tax Revenue               7.00  7/1/33           6,010,000  6,351,668 
Pima County Industrial Development         
       Authority, Education Revenue         
       (American Charter Schools         
       Foundation Project)               5.50  7/1/26           4,000,000  2,882,440 
Arkansas--.7%         
Arkansas Development Finance         
       Authority, SFMR (Mortgage         
       Backed Securities Program)         
       (Collateralized: FNMA and GNMA)               6.25  1/1/32           2,265,000  2,326,268 
California--9.6%         
Beverly Hills Unified School         
       District, GO               0.00  8/1/30           8,000,000 a  2,359,520 
California Department of Veteran         
       Affairs, Home Purchase Revenue               5.20  12/1/28           2,950,000  2,949,823 
California Educational Facilities         
       Authority, Revenue (University         
       of Southern California)               5.25  10/1/38           5,000,000  5,105,550 
California Enterprise Development         
       Authority, Sewage Facilities         
       Revenue (Anheuser-Busch         
       Project)               5.30  9/1/47           1,000,000  703,930 
California Health Facilities         
       Financing Authority, Revenue         
       (Cedars-Sinai Medical Center)               6.25  12/1/09           3,750,000 b  3,949,275 
California Housing Finance Agency,         
       Home Mortgage Revenue               5.05  8/1/27           2,500,000  2,070,450 
California Pollution Control         
       Financing Authority, SWDR         
       (Waste Management, Inc.         
       Project)               5.13  11/1/23           1,500,000  1,253,505 
California Statewide Communities         
       Development Authority,         
       Environmental Facilities         
       Revenue (Microgy Holdings         
       Project)               9.00  12/1/38           2,000,000  1,597,320 
Golden State Tobacco         


       Securitization Corporation,         
       Tobacco Settlement         
       Asset-Backed Bonds  5.00  6/1/33     2,535,000  1,579,001 
Los Angeles Department of Water         
       and Power, Power System Revenue  5.00  7/1/34     2,885,000  2,827,935 
Sacramento City Unified School         
       District, GO (Insured; FSA)  0.00  7/1/24     5,220,000 a  2,266,994 
Santa Margarita/Dana Point         
       Authority, Revenue (Santa         
       Margarita Water District         
       Improvement Districts Numbers         
       2, 3 and 4)  5.13  8/1/38     5,000,000  4,928,750 
Silicon Valley Tobacco         
       Securitization Authority,         
       Tobacco Settlement         
       Asset-Backed Bonds (Santa         
       Clara County Tobacco         
       Securitization Corporation)  0.00  6/1/36  15,290,000 a  986,664 
Colorado--3.7%         
Colorado Health Facilities         
       Authority, Revenue (American         
       Baptist Homes of the Midwest         
       Obligated Group)  5.90  8/1/37     2,500,000  1,511,925 
Colorado Health Facilities         
       Authority, Revenue (American         
       Housing Foundation I, Inc.         
       Project)  8.50  12/1/11     1,870,000 b  2,179,055 
Colorado Housing Finance         
       Authority, Single Family         
       Program Senior and Subordinate         
       Bonds (Collateralized; FHA)  6.60  8/1/32     1,440,000  1,508,832 
Northwest Parkway Public Highway         
       Authority, Revenue  7.13  6/15/11     7,000,000 b  7,484,470 
Connecticut--4.1%         
Connecticut Development Authority,         
       PCR (Connecticut Light and         
       Power Company Project)  5.95  9/1/28     9,000,000  7,521,750 
Connecticut Resources Recovery         
       Authority, Special Obligation         
       Revenue (American REF-FUEL         
       Company of Southeastern         
       Connecticut Project)  6.45  11/15/22     4,985,000  4,491,286 
Mohegan Tribe of Indians of         
       Connecticut Gaming Authority,         
       Priority Distribution Payment         
       Public Improvement Revenue  6.25  1/1/31     3,470,000 c  1,997,367 
District of Columbia--1.4%         
District of Columbia Tobacco         
       Settlement Financing         
       Corporation, Tobacco         
       Settlement Asset-Backed Bonds  0.00  6/15/46  104,040,000 a  2,021,497 
Metropolitan Washington Airports         
       Authority, Special Facility         
       Revenue (Caterair         
       International Corporation)  10.13  9/1/11     2,700,000  2,609,010 
Florida--6.7%         


Escambia County,         
       EIR (International Paper         
       Company Project)  5.00  8/1/26   1,825,000  1,074,377 
Florida Housing Finance         
       Corporation, Housing Revenue         
       (Seminole Ridge Apartments)         
       (Collateralized; GNMA)  6.00  4/1/41   6,415,000  6,426,739 
Highlands County Health Facilities         
       Authority, HR (Adventist         
       Health System/Sunbelt         
       Obligated Group)  5.25  11/15/36   2,875,000  2,415,719 
Jacksonville Economic Development         
       Commission, Health Care         
       Facilities Revenue (Florida         
       Proton Therapy Institute         
       Project)  6.25  9/1/27   2,095,000 c  1,565,950 
Orange County Health Facilities         
       Authority, HR (Orlando         
       Regional Healthcare System)  6.00  10/1/09  70,000 b  72,913 
Orange County Health Facilities         
       Authority, HR (Orlando         
       Regional Healthcare System)  6.00  10/1/26   3,675,000  3,384,491 
Orange County Health Facilities         
       Authority, Revenue (Adventist         
       Health System)  6.25  11/15/12   3,000,000 b  3,404,220 
Orange County School Board,         
       COP (Master Lease Purchase         
       Agreement) (Insured; Assured         
       Guaranty)  5.50  8/1/34   4,500,000 d  4,459,635 
Georgia--1.6%         
Augusta,         
       Airport Revenue  5.45  1/1/31   2,500,000  1,592,325 
Georgia Housing and Finance         
       Authority, SFMR  5.60  12/1/32   2,090,000  1,982,616 
Savannah Economic Development         
       Authority, EIR (International         
       Paper Company Project)  6.20  8/1/27   2,670,000  1,822,328 
Idaho--.1%         
Idaho Housing and Finance         
       Association, SFMR         
       (Collateralized; FNMA)  6.35  1/1/30  225,000  226,325 
Illinois--5.9%         
Chicago,         
       SFMR (Collateralized: FHLMC,         
       FNMA and GNMA)  6.25  10/1/32   1,430,000  1,472,871 
Chicago O'Hare International         
       Airport, Special Facility         
       Revenue (American Airlines,         
       Inc. Project)  5.50  12/1/30   4,000,000  1,742,720 
Illinois Health Facilities         
       Authority, Revenue (Advocate         
       Health Care Network)  6.13  11/15/10   5,000,000 b  5,423,300 
Illinois Health Facilities         
       Authority, Revenue (OSF         
       Healthcare System)  6.25  11/15/09  10,900,000 b  11,427,451 


Indiana--1.9%         
Franklin Township School Building         
       Corporation, First Mortgage         
       Bonds  6.13  7/15/10  6,000,000 b  6,544,260 
Kentucky--.9%         
Louisville/Jefferson County Metro         
       Government, Health Facilities         
       Revenue (Jewish Hospital and         
       Saint Mary's Healthcare, Inc.         
       Project)  6.13  2/1/37  3,000,000  2,952,540 
Louisiana--3.4%         
Lakeshore Villages Master         
       Community Development         
       District, Special Assessment         
       Revenue  5.25  7/1/17  1,987,000  1,511,849 
Louisiana Local Government         
       Environmental Facilities and         
       Community Development         
       Authority, Revenue (Westlake         
       Chemical Corporation Projects)  6.75  11/1/32  4,000,000  2,653,800 
West Feliciana Parish,         
       PCR (Entergy Gulf States         
       Project)  7.00  11/1/15  3,000,000  2,921,430 
West Feliciana Parish,         
       PCR (Entergy Gulf States         
       Project)  6.60  9/1/28  4,700,000  4,441,970 
Maryland--1.4%         
Maryland Economic Development         
       Corporation, Senior Student         
       Housing Revenue (University of         
       Maryland, Baltimore Project)  5.75  10/1/33  2,550,000  1,444,320 
Maryland Industrial Development         
       Financing Authority, EDR         
       (Medical Waste Associates         
       Limited Partnership Facility)  8.75  11/15/10  3,710,000  3,181,993 
Massachusetts--6.2%         
Massachusetts Educational         
       Financing Authority, Education         
       Loan Revenue (Insured; Assured         
       Guaranty)  6.13  1/1/22  8,000,000  8,153,920 
Massachusetts Health and         
       Educational Facilities         
       Authority, Revenue (Civic         
       Investments Issue)  9.00  12/15/12  1,900,000 b  2,325,106 
Massachusetts Health and         
       Educational Facilities         
       Authority, Revenue (Partners         
       HealthCare System Issue)  5.75  7/1/32  115,000  115,250 
Massachusetts Housing Finance         
       Agency, Housing Revenue  7.00  12/1/38  5,000,000  5,334,300 
Massachusetts Housing Finance         
       Agency, SFHR  5.00  12/1/31  6,000,000  5,307,300 
Michigan--4.2%         
Kent Hospital Finance Authority,         
       Revenue (Metropolitan Hospital         


       Project)  6.00  7/1/35  4,000,000  2,792,760 
Michigan Strategic Fund,         
       SWDR (Genesee Power Station         
       Project)  7.50  1/1/21  7,720,000  6,193,910 
Royal Oak Hospital Finance         
       Authority, HR (William         
       Beaumont Hospital Obligated         
       Group)  8.00  9/1/29  5,000,000  5,305,550 
Minnesota--2.3%         
Saint Paul Housing and         
       Redevelopment Authority,         
       Hospital Facility Revenue         
       (HealthEast Project)  6.00  11/15/35  11,250,000  7,901,887 
Mississippi--1.0%         
Mississippi Business Finance         
       Corporation, PCR (System         
       Energy Resources, Inc. Project)  5.90  5/1/22  4,260,000  3,513,265 
Missouri--1.6%         
Missouri Health and Educational         
       Facilities Authority, Health         
       Facilities Revenue (BJC Health         
       System)  5.25  5/15/32  5,900,000  5,552,785 
Nebraska--.2%         
Nebraska Investment Finance         
       Authority, SFMR  8.64  3/1/26  700,000 c,e  704,984 
Nevada--3.1%         
Clark County,         
       IDR (Nevada Power Company         
       Project)  5.60  10/1/30  3,000,000  2,058,120 
Washoe County,         
       GO Convention Center Revenue         
       (Reno-Sparks Convention and         
       Visitors Authority) (Insured;         
       FSA)  6.40  1/1/10  8,000,000 b  8,383,520 
New Hampshire--3.9%         
New Hampshire Business Finance         
       Authority, PCR (Public Service         
       Company of New Hampshire         
       Project) (Insured; MBIA, Inc.)  6.00  5/1/21  2,690,000  2,491,370 
New Hampshire Business Finance         
       Authority, PCR (Public Service         
       Company of New Hampshire         
       Project) (Insured; MBIA, Inc.)  6.00  5/1/21  6,000,000  5,556,960 
New Hampshire Industrial         
       Development Authority, PCR         
       (Connecticut Light and Power         
       Company Project)  5.90  11/1/16  5,400,000  5,326,884 
New Jersey--4.6%         
New Jersey Economic Development         
       Authority, Special Facility         
       Revenue (Continental Airlines,         
       Inc. Project)  6.25  9/15/19  4,620,000  3,426,700 
Tobacco Settlement Financing         
       Corporation of New Jersey,         
       Tobacco Settlement         


       Asset-Backed Bonds  7.00  6/1/13  10,095,000 b  12,186,886 
New York--8.7%         
Austin Trust         
       (Port Authority of New York         
       and New Jersey, Consolidated         
       Bonds, 151th Series)  6.00  9/15/28  10,000,000 c,f  10,174,150 
Long Island Power Authority,         
       Electric System General Revenue  6.25  4/1/33  3,000,000  3,217,980 
Metropolitan Transportation         
       Authority, Transportation         
       Revenue  6.25  11/15/23  5,000,000  5,635,150 
New York City Industrial         
       Development Agency, Special         
       Facility Revenue (American         
       Airlines, Inc. John F. Kennedy         
       International Airport Project)  8.00  8/1/28  3,000,000  2,317,680 
New York City Industrial         
       Development Agency, Special         
       Facility Revenue (American         
       Airlines, Inc. John F. Kennedy         
       International Airport Project)  7.75  8/1/31  5,000,000  3,712,550 
New York State Dormitory         
       Authority, Revenue (Marymount         
       Manhattan College) (Insured;         
       Radian)  6.25  7/1/29  4,000,000  3,703,160 
New York State Dormitory         
       Authority, Revenue (Suffolk         
       County Judicial Facility)  9.50  4/15/14  605,000  805,116 
North Carolina--1.5%         
North Carolina Eastern Municipal         
       Power Agency, Power System         
       Revenue  6.70  1/1/19  2,500,000  2,557,950 
North Carolina Housing Finance         
       Agency, Home Ownership Revenue  5.88  7/1/31  2,575,000  2,557,361 
Ohio--1.5%         
Cuyahoga County,         
       Hospital Facilities Revenue         
       (UHHS/CSAHS-Cuyahoga, Inc. and         
       CSAHS/UHHS-Canton, Inc.         
       Project)  7.50  1/1/30  3,500,000  3,393,915 
Port of Greater Cincinnati         
       Development Authority, Tax         
       Increment Development Revenue         
       (Fairfax Village Red Bank         
       Infrastructure Project)  5.63  2/1/36  2,530,000  1,650,749 
Oklahoma--1.5%         
Oklahoma Development Finance         
       Authority, Revenue (Saint John         
       Health System)  6.00  2/15/29  2,250,000  2,256,097 
Oklahoma Industries Authority,         
       Health System Revenue         
       (Obligated Group) (Insured;         
       MBIA, Inc.)  5.75  8/15/09   2,895,000 b  2,994,414 
Pennsylvania--2.4%         
Allegheny County Port Authority,         
       Special Transportation Revenue         


       (Insured; MBIA, Inc.)  6.13  3/1/09  4,750,000 b  4,800,492 
Pennsylvania Economic Development         
       Financing Authority, SWDR (USG         
       Corporation Project)  6.00  6/1/31  7,000,000  3,136,630 
Pennsylvania Housing Finance         
       Agency, Multi-Family         
       Development Revenue  8.25  12/15/19  214,000  214,475 
South Carolina--3.9%         
Greenville Hospital System,         
       Hospital Facilities Revenue         
       (Insured; AMBAC)  5.50  5/1/26  7,000,000  7,032,760 
Richland County,         
       EIR (International Paper         
       Company Project)  6.10  4/1/23  8,500,000  6,208,315 
Tennessee--4.7%         
Johnson City Health and         
       Educational Facilities Board,         
       Hospital First Mortgage         
       Revenue (Mountain States         
       Health Alliance)  7.50  7/1/12  2,000,000 b  2,284,420 
Johnson City Health and         
       Educational Facilities Board,         
       Hospital First Mortgage         
       Revenue (Mountain States         
       Health Alliance)  7.50  7/1/12  4,875,000 b  5,568,274 
Knox County Health, Educational         
       and Housing Facility Board,         
       Revenue (University Health         
       System, Inc.)  5.25  4/1/36  3,650,000  2,712,023 
Memphis Center City Revenue         
       Finance Corporation, Sports         
       Facility Revenue (Memphis         
       Redbirds Baseball Foundation         
       Project)  6.50  9/1/28  6,000,000 g  4,046,040 
Tennessee Housing Development         
       Agency, Homeownership Program         
       Revenue  6.00  1/1/28  1,340,000  1,359,819 
Texas--29.0%         
Brazos River Authority,         
       PCR (TXU Electric Company         
       Project)  8.25  5/1/33  3,000,000  1,764,450 
Brazos River Harbor Navigation         
       District, Revenue (The Dow         
       Chemical Company Project)  5.13  5/15/33  5,000,000  3,125,700 
Cities of Dallas and Fort Worth,         
       Dallas/Fort Worth         
       International Airport Facility         
       Improvement Corporation,         
       Revenue (Learjet Inc. Project)  6.15  1/1/16  3,000,000  2,477,970 
Gregg County Health Facilities         
       Development Corporation, HR         
       (Good Shepherd Medical Center         
       Project) (Insured; Radian)  6.38  10/1/10  2,500,000 b  2,686,950 
Gulf Coast Industrial Development         
       Authority, Environmental         
       Facilities Revenue (Microgy         


       Holdings Project)  7.00  12/1/36   5,000,000  3,226,750 
Harris County Health Facilities         
       Development Corporation, HR         
       (Memorial Hermann Healthcare         
       System)  6.38  6/1/11   7,000,000 b  7,821,870 
Harris County Health Facilities         
       Development Corporation, HR         
       (Memorial Hermann Healthcare         
       System)  7.25  12/1/35   9,290,000  9,776,146 
Harris County Hospital District,         
       Senior Lien Revenue (Insured;         
       MBIA, Inc.)  5.25  2/15/42   5,000,000  4,357,400 
Harris County-Houston Sports         
       Authority, Third Lien Revenue         
       (Insured; MBIA, Inc.)  0.00  11/15/31   9,685,000 a  1,601,899 
Lubbock Housing Financing         
       Corporation, SFMR         
       (Collateralized: FNMA and GNMA)  6.70  10/1/30  900,000  946,881 
Matagorda County Navigation         
       District Number One, Revenue         
       (Houston Lighting and Power         
       Company Project) (Insured;         
       AMBAC)  5.13  11/1/28   4,295,000  3,288,338 
North Texas Tollway Authority,         
       First Tier System Revenue         
       (Insured; Assured Guaranty)  5.75  1/1/40  14,705,000  15,020,422 
North Texas Tollway Authority,         
       Second Tier System Revenue  5.75  1/1/38   6,650,000  6,083,686 
Sabine River Authority,         
       PCR (TXU Electric Company         
       Project)  6.45  6/1/21   4,900,000  2,634,828 
Texas         
       (Veterans' Land)  6.00  12/1/30   3,935,000  3,822,931 
Texas,         
       GO (Veterans Housing         
       Assistance Program)         
       (Collateralized; FHA)  6.10  6/1/31   8,510,000  8,336,651 
Texas Department of Housing and         
       Community Affairs, Home         
       Mortgage Revenue         
       (Collateralized: FHLMC, FNMA         
       and GNMA)  10.93  7/2/24       900,000 e  947,043 
Texas Department of Housing and         
       Community Affairs, Residential         
       Mortgage Revenue         
       (Collateralized: FHLMC, FNMA         
       and GNMA)  5.35  7/1/33   5,070,000  4,717,889 
Texas Turnpike Authority,         
       Central Texas Turnpike System         
       Revenue (Insured; AMBAC)  5.25  8/15/42   5,375,000  4,644,537 
Tomball Hospital Authority,         
       Revenue (Tomball Regional         
       Hospital)  6.00  7/1/25   4,650,000  3,672,198 
Tyler Health Facilities         
       Development Corporation, HR,         
       Refunding and Improvement         


       Bonds (East Texas Medical         
       Center Regional Healthcare         
       System Project)  5.25  11/1/32           6,915,000  4,682,700 
Willacy County Local Government         
       Corporation, Project Revenue  6.88  9/1/28           4,000,000  2,916,640 
Virginia--6.4%         
Henrico County Industrial         
       Development Authority, Revenue         
       (Bon Secours Health System)         
       (Insured; FSA)  10.73  8/23/27           7,450,000 e  7,647,947 
Virginia Housing Development         
       Authority, Commonwealth         
       Mortgage Revenue  6.25  7/1/31           5,250,000  5,491,290 
Virginia Housing Development         
       Authority, Rental Housing         
       Revenue  6.20  8/1/24           8,520,000  8,613,209 
Washington--4.8%         
Washington Health Care Facilities         
       Authority, Mortgage Revenue         
       (Highline Medical Center)         
       (Collateralized; FHA)  6.25  8/1/36           6,000,000  6,169,500 
Washington Higher Educational         
       Facilities Authority, Revenue         
       (Whitman College)  5.88  10/1/09  10,000,000 b  10,319,500 
Wisconsin--8.0%         
Badger Tobacco Asset         
       Securitization Corporation,         
       Tobacco Settlement         
       Asset-Backed Bonds  6.13  6/1/27           8,280,000  7,899,700 
Badger Tobacco Asset         
       Securitization Corporation,         
       Tobacco Settlement         
       Asset-Backed Bonds  7.00  6/1/28         14,570,000  14,689,911 
Wisconsin Health and Educational         
       Facilities Authority, Revenue         
       (Aurora Health Care, Inc.)  6.40  4/15/33           5,500,000  4,502,465 
Total Long-Term Municipal Investments         
       (cost $562,208,354)        504,397,635 
Short-Term Municipal  Coupon  Maturity  Principal   
Investments--6.8%  Rate (%)  Date  Amount ($)  Value ($) 
Florida--2.4%         
Hillsborough County School Board,         
       COP (Master Lease Purchase         
       Agreement) (LOC; Wachovia Bank)  0.60  3/1/09           4,900,000 h  4,900,000 
Lee Memorial Health System,         
       HR (LOC; Bank of America)  0.55  3/1/09           3,200,000 h  3,200,000 
New York--3.4%         
Monroe County,         
       GO Notes, RAN  6.50  4/15/09           5,000,000  5,019,200 
New York City,         
       GO Notes (Liquidity Facility;         
       Allied Irish Banks)  0.70  3/1/09           6,600,000 h  6,600,000 
Pennsylvania--1.0%         
Lancaster County Hospital         
       Authority, Health System         


       Revenue (The Lancaster General         
       Hospital Refunding Project)         
       (LOC; Bank of America)  0.52  3/1/09  3,300,000 h  3,300,000 
Total Short-Term Municipal Investments         
       (cost $23,000,000)        23,019,200 
Total Investments (cost $585,208,354)      155.1%  527,416,835 
Liabilities, Less Cash and Receivables      (.4%)  (1,363,985) 
Preferred Stock, at redemption value      (54.7%)  (186,000,000) 
Net Assets Applicable to Common Shareholders      100.0%  340,052,850 

a      Security issued with a zero coupon. Income is recognized through the accretion of discount.
b      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.
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 February 28, 2009, these securities amounted to $14,442,451 or 4.2% of net assets applicable to Common Shareholders.
d      Purchased on delayed delivery basis.
e      Inverse floater security--the interest rate is subject to change periodically.
f      Collateral for floating rate borrowings.
g      Non-income producing--security in default.
h      Variable rate demand note - rate shown is the interest rate in effect at February 28, 2009. Maturity date represents the next demand date, or the ultimate maturity date if earlier.
I      At February 28, 2009, the fund had $98,381,062 or 28.9% of net assets applicable to Common Shareholders invested in securities whose payment of principal and interest is dependent upon revenues generated from health care projects.

At February 28, 2009, the aggregate cost of investment securities for income tax purposes was $585,208,354. Net unrealized depreciation on investments was $57,791,519 of which $15,860,641 related to appreciated investment securities and $73,652,160 related to depreciated investment securities.

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     
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  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 
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 


Various inputs are used in determining the value of the fund's investments relating to Financial Accounting Standard No. 157 (FAS 157),

  Fair Value Measurements.
These inputs are summarized in the three broad levels listed below.
Level 1 - quoted prices in active markets for identical investments.
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds,
credit risk, etc.)
Level 3 - significant unobservable inputs (including 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 February 28, 2009 in valuing the fund's investments:

      Level 3 -   
  Level 1 -  Level 2 - Other  Significant   
  Quoted  Significant Observable  Unobservable   
Assets ($)  Prices  Inputs  Inputs  Total 
Investment in Securities  0  527,416,835  0  527,416,835 
Other Financial Instruments+  0  0  0  0 
Liabilities ($)         
Other Financial Instruments+  0  0  0  0 

† Other financial instruments include derivative instruments, such as futures, forward currency exchange contracts, swap contracts and any options contracts.


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.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dreyfus Strategic Municipal Bond Fund, Inc.

By:  /s/ J. David Officer 
  J. David Officer 
President
 
Date:  April 23, 2009 

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:  April 23, 2009 
 
By:  /s/ James Windels 
  James Windels 
Treasurer
 
Date:  April 23, 2009 

EXHIBIT INDEX

(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)

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