form-424
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 811-05652 
 
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) 
 
Mark N. Jacobs, 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:    9/30 
Date of reporting period:    12/31/04 


FORM N-Q

Item 1. Schedule of Investments.

Dreyfus Municipal Income, Inc.         
Statement of Investments    December 31, 2004 (Unaudited)     
 
    Principal     
    Amount($)    Value($) 
Long-Term Municipal Investments--146.2%         
 
Alabama--10.4%         
 
Courtland Industrial Development Board, SWDR         
(Champion International Corp. Project)         
6.50%, 9/1/2025    2,500,000    2,607,925 
 
Jefferson County:         
Limited Obligation School Warrants         
5.50%, 1/1/2021    4,000,000    4,331,840 
Sewer Revenue, Capital Improvement         
5.75%, 2/1/2038 (Insured; FGIC)         
(Prerefunded 2/1/2009)    7,500,000 a    8,499,150 
 
The Board of Trustees of the University of Alabama, HR         
(University of Alabama at Birmingham)         
5.875%, 9/1/2031 (Insured; MBIA)    4,620,000    5,194,451 
 
Alaska--3.6%         
 
Alaska Housing Finance Corp.,         
General Mortgage Revenue         
6.05%, 6/1/2039 (Insured; MBIA)    6,845,000    7,126,603 
 
California--13.1%         
 
ABAG Financial Authority For Nonprofit Corporations:         
Insured Revenue, COP         
(Odd Fellows Home of California)         
6%, 8/15/2024    5,000,000    5,356,650 
MFHR         
(Civic Center Drive Apartments)         
5.875%, 9/1/2032 (Insured; FSA)    3,750,000    3,893,475 
 
California Department of Veteran Affairs,         
Home Purchase Revenue         
5.20%, 12/1/2028    5,000,000    5,012,100 
 
California Health Facilities Financing Authority,         
Revenue (Sutter Health)         
6.25%, 8/15/2035    2,500,000    2,814,975 
 
California Statewide Communities Development Authority,         
COP (Catholic Healthcare West)         
6.50%, 7/1/2020    5,000,000    5,587,600 
 
Golden State Tobacco Securitization Corp., Revenue         
(Tobacco Settlement Asset-Backed Bonds)         
7.80%, 6/1/2042    3,000,000    3,281,040 
 
Colorado--4.3%         
 
City and County of Denver, Airport Revenue         
(Special Facilities-United Airlines Inc. Project)         
6.875%, 10/1/2032    2,480,000 b    2,015,000 
 
Colorado Springs, HR:         
6.375%, 12/15/2030 (Prerefunded 12/15/2010)    2,835,000 a    3,352,302 


6.375%, 12/15/2030    2,890,000    3,131,951 
 
District of Columbia--1.2%         
 
District of Columbia, Revenue         
(Catholic University America Project)         
5.625%, 10/1/2029 (Insured; AMBAC)    2,080,000    2,288,437 
 
Florida--2.0%         
 
Orange County Health Facilities Authority, Revenue         
(Orlando Regional Healthcare System)         
6%, 10/1/2026    1,500,000    1,586,055 
 
Pinellas County Housing Finance Authority,         
SFMR (Multi-County Program)         
6.70%, 2/1/2028    1,275,000    1,301,444 
 
South Lake County Hospital District,         
Revenue (South Lake Hospital Inc.)         
5.80%, 10/1/2034    1,095,000    1,134,617 
 
Illinois--10.5%         
 
Chicago 6.125%, 1/1/2028 (Insured; FGIC)    4,000,000    4,580,160 
 
Illinois Development Finance Authority, Revenue         
(Community Rehabilitation Providers Facilities         
Acquisition Program)         
8.75%, 3/1/2010    80,000    80,283 
 
Illinois Health Facilities Authority, Revenue:         
(Advocate Health Care Network)         
6.125%, 11/15/2022    5,800,000    6,454,762 
(OSF Healthcare System)         
6.25%, 11/15/2029    7,000,000    7,424,060 
(Swedish American Hospital)         
6.875%, 11/15/2030    2,000,000    2,216,140 
 
Indiana--1.5%         
 
Franklin Township School Building Corp. (Marion County)         
First Mortgage 6.125%, 1/15/2022         
(Prerefunded 7/15/2010)    2,500,000 a    2,948,025 
 
Maryland--5.1%         
 
Maryland Economic Development Corp.,         
Student Housing Revenue (University of Maryland,         
College Park Project)         
5.625%, 6/1/2035    2,000,000    2,066,740 
 
Maryland Health and Higher Educational         
Facilities Authority, Revenue         
(The John Hopkins University Issue)         
6%, 7/1/2039 (Prerefunded 7/1/2009)    7,000,000 a    8,052,380 
 
Massachusetts--7.0%         
 
Massachusetts Bay Transportation Authority, Assessment         
5%, 7/1/2034    5,000,000    5,148,250 
 
Massachusetts Health and Educational Facilities Authority,         
Revenue, Healthcare System (Covenant Health)         


6%, 7/1/2031    2,500,000    2,656,225 
 
Massachusetts Industrial Finance Agency, Revenue         
(Water Treatment-American Hingham)         
6.95%, 12/1/2035    5,640,000    5,953,528 
 
Michigan--7.6%         
 
Hancock Hospital Finance Authority,         
Mortgage Revenue (Portgage Health)         
5.45%, 8/1/2047 (Insured; MBIA)    2,200,000    2,339,502 
 
Michigan Hospital Finance Authority, HR         
(Genesys Health System Obligated Group)         
8.125%, 10/1/2021 (Prerefunded 10/1/2005)    7,670,000 a    8,164,715 
 
Michigan Strategic Fund, SWDR         
(Genesee Power Station Project)         
7.50%, 1/1/2021    4,900,000    4,602,717 
 
Minnesota--1.4%         
 
Minnesota Agricultural and Economic Development Board,     
Health Care System Revenue (Fairview Health Services)     
6.375%, 11/15/2029    2,500,000    2,741,675 
 
Mississippi--3.1%         
 
Mississippi Business Finance Corp., PCR         
(System Energy Resource Inc. Project)         
5.875%, 4/1/2022    6,000,000    6,018,540 
 
Missouri--2.8%         
 
Health and Educational Facilities Authority of the State         
of Missouri, Health Facilities Revenue:         
(BJC Health System)         
5.25%, 5/15/2032    2,500,000    2,603,950 
(Saint Anthony's Medical Center)         
6.25%, 12/1/2030    2,500,000    2,672,525 
 
Missouri Housing Development Commission,         
Mortgage Revenue (Single Family Homeownersip Loan)     
6.30%, 9/1/2025    335,000    352,346 
 
Nevada--2.3%         
 
Clark County, IDR (Southwest Gas Corp.)         
6.10%, 12/1/2038 (Insured; AMBAC)    4,000,000    4,514,320 
 
New Jersey--.6%         
 
New Jersey Economic Development Authority,         
Cigarette Tax Revenue         
5.50%, 6/15/2031    1,100,000    1,130,580 
 
New Mexico--1.7%         
 
Farmington, PCR (Public Service Co. San Juan)         
6.30%, 12/1/2016    3,000,000    3,253,890 
 
New York--5.5%         
 
Long Island Power Authority,         


Electric System Revenue         
5%, 9/1/2027    1,500,000    1,535,715 
 
New York City Municipal Water Finance Authority,         
Water and Sewer System Revenue         
5.125%, 6/15/2034 (Insured; FGIC)    2,500,000    2,586,625 
 
New York City Transitional Finance Authority,         
Revenue (Future Tax Secured)         
5.25%, 8/1/2019    6,200,000    6,765,192 
 
North Carolina--5.2%         
 
North Carolina Capital Facilities Finance Agency,         
Revenue (Duke University Project)         
5.25%, 7/1/2042    5,000,000    5,204,550 
 
North Carolina Eastern Municipal Power Agency,         
Power System Revenue         
5.125%, 1/1/2026    3,000,000    3,041,250 
 
North Carolina Housing Finance Agency (Home Ownership)         
6.25%, 1/1/2029    1,920,000    2,005,056 
 
Ohio--4.9%         
 
Cuyahoga County, Hospital Improvement Revenue         
(The Metrohealth System Project)         
6.125%, 2/15/2024    5,000,000    5,257,950 
 
Ohio Housing Finance Agency,         
Residential Mortgage Revenue         
5.75%, 9/1/2030    610,000    619,717 
 
Rickenbacker Port Authority, Capital Funding         
Revenue (OASBO Expanded Asset Pooled)         
5.375%, 1/1/2032    3,590,000    3,780,055 
 
Oklahoma--1.4%         
 
Oklahoma Development Finance Authority, Revenue         
(Saint John Health System)         
6%, 2/15/2029    2,500,000    2,749,925 
 
Pennsylvania--5.9%         
 
Pennsylvania Economic Development Financing Authority,         
RRR (Northampton Generating Project)         
6.60%, 1/1/2019    3,500,000    3,540,005 
 
Sayre Health Care Facilities Authority,         
Revenue (Guthrie Health)         
5.875%, 12/1/2031    7,750,000    8,207,173 
 
South Carolina--9.0%         
 
Lancaster Educational Assistance Program, Inc.,         
Installment Purchase Revenue (The School District         
of Lancaster County, South Carolina, Project)         
5%, 12/1/2026    5,000,000    5,023,100 
 
Medical University, Hospital Facilities Revenue         
6%, 7/1/2019 (Prerefunded 7/1/2009)    2,500,000 a    2,865,525 


Piedmont Municipal Power Agency, Electric Revenue         
5.25%, 1/1/2021    3,500,000    3,550,295 
 
Tobacco Settlement Revenue Management Authority,         
Tobacco Settlement Asset - Backed Bonds:         
6.375%, 5/15/2028    2,900,000    2,824,194 
6.375%, 5/15/2030    3,750,000    3,604,088 

Texas--10.9%         
 
Cities of Dallas and Fort Worth,         
Dallas/Fort Worth International Airport,         
Joint Revenue Improvement         
5%, 11/1/2035 (Insured; FSA)    2,500,000    2,506,950 
 
Gregg County Health Facilities Development Corp.,         
HR (Good Shepherd Medical Center Project)         
6.375%, 10/1/2025 (Insured; AGIC)    2,500,000    2,848,700 
 
Harris County Health Facilities Development Corp.,         
HR (Memorial Hermann Healthcare)         
6.375%, 6/1/2029    3,565,000    3,922,926 
 
Port of Corpus Christi Authority, Nueces County,         
General Revenue (Union Pacific)         
5.65%, 12/1/2022    4,500,000    4,750,290 
 
Texas, Veterans Housing Assistance Program         
6.10%, 6/1/2031    7,000,000    7,473,830 
 
Utah--1.7%         
 
Carbon County, SWDR (Sunnyside Cogeneration)         
7.10%, 8/15/2023    2,868,000    2,823,230 
 
Utah Housing Finance Agency,         
Single Family Mortgage         
6%, 1/1/2031    510,000    512,693 
 
Vermont--1.3%         
 
Vermont Educational and Health Buildings         
Financing Agency, Revenue         
(Saint Michael's College Project)         
6%, 10/1/2028    1,500,000    1,678,410 
 
Vermont Housing Finance Agency,         
Single Family Housing         
6.40%, 11/1/2030 (Insured; FSA)    970,000    975,519 
 
Washington--3.9%         
 
Public Utility District Number 1 of Pend Orielle County,         
Electric Revenue         
6.375%, 1/1/2015    2,000,000    2,075,820 
 
Washington Higher Education Facilities Authority,         
Revenue (Whitman College Project)         
5.875%, 10/1/2029 (Prerefunded 10/1/2009)    5,000,000 a    5,705,400 
 
West Virginia--6.5%         
 
Braxton County, SWDR         
(Weyerhaeuser Co. Project):         


6.50%, 4/1/2025    5,000,000        5,144,000 
5.80%, 6/1/2027    7,450,000        7,692,199 
Wisconsin--3.6%             
Badger Tobacco Asset Securitization Corp.,             
Tobacco Settlement Asset-Backed Bonds             
7%, 6/1/2028    2,500,000        2,558,450 
Wisconsin Health and Educational Facilities Authority,             
Revenue (Aurora Health Care, Inc.)             
5.60%, 2/15/2029    4,575,000        4,635,756 
Wyoming--1.0%             
Sweetwater County, SWDR (FMC Corp. Project)             
7%, 6/1/2024    2,000,000        2,036,780 
U.S. Related--7.2%             
Puerto Rico Highway and Transportation Authority,             
Transportation Revenue:             
7.878%, 7/1/2038 (Insured; MBIA)    4,000,000    c,d    4,244,840 
7.878%, 7/1/2038 (Insured; MBIA)    5,000,000    c,d    5,306,050 
Puerto Rico Infrastructure Financing Authority,             
Special Tax Revenue, Residual Certificates             
7.685%, 7/1/2015    4,000,000    c,d    4,585,040 
Total Long-Term Municipal Investments             
(cost $270,349,657)            289,128,226 
Short-Term Municipal Investments--2.1%             
Louisiana--.6%             
East Baton Rouge Parish, PCR, VRDN             
(Exxon Project)             
2.12%    1,100,000    e    1,100,000 
Texas--1.5%             
Bell County Health Facilities Development Corp.,             
HR, VRDN (Scott and White)             
2.20% (Insured; MBIA)    1,100,000    e    1,100,000 
Harris County Health Facilities Development Corp.,             
Revenue, VRDN (Methodist Hospital)             
2.20%    1,900,000    e    1,900,000 
Total Short-Term Municipal Investments             
(cost $4,100,000)            4,100,000 
Total Investments (cost $274,449,657)    148.3%        293,228,226 
Cash And Receivables (Net)    2.3%        4,462,010 
Preferred Stock, at redemption value    (50.6%)        (100,000,000) 
Net Assets applicable to Common Shareholders    100.0%        197,690,236 
 
Notes to Statement of Investments:             


a 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 Non-income producing security; interest payments in default. 
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. These securities have been deemed to be liquid by the Board of Directors. At December 31, 2004, these securities amounted to $14,135,930 or 7.2% of net assets 
applicable to common shareholders. 
d Inverse floater security - the interest rate is subject to change periodically. 
e Securities payable on demand. Variable interest rate - subject to periodic change. 
f At December 31, 2004, the fund had $87,970,152 or 44.5% of net assets applicable to common shareholders invested in securities whose payment of principal and interest is dependent 
upon revenues generated from health care projects. 
g Securities valuation policies and other investment related disclosures are hereby incorporated by reference 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)

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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 MUNICIPAL INCOME, INC.

By:    /s/ Stephen E. Canter 
    Stephen E. Canter 
    President 
 
Date:    February 18, 2005 

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/ Stephen E. Canter 
    Stephen E. Canter 
    Chief Executive Officer 
 
Date:    February 18, 2005 
 
By:    /s/ James Windels 
James Windels
    Chief Financial Officer 
 
Date:    February 18, 2005 

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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)