Investment Company Act file number 811-05488
Nuveen Municipal Income Fund, Inc.
(Exact name of
registrant as specified in charter)
Nuveen
Investments
333 West
Wacker Drive, Chicago, Illinois 60606
(Address of
principal executive offices) (Zip code)
Kevin
J. McCarthy Vice President and
Secretary
333 West Wacker
Drive, Chicago, Illinois 60606
(Name and address of
agent for service)
Registrant's telephone number, including area code: 312-917-7700
Date of fiscal year end: 10/31
Date of reporting period: 1/31/09
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments
| Portfolio of Investments (Unaudited) | ||||||||
| Nuveen Municipal Income Fund, Inc. (NMI) | ||||||||
| January 31, 2009 | ||||||||
| Principal | Optional Call | |||||||
| Amount (000) | Description (1) | Provisions (2) | Ratings (3) | Value | ||||
|
| ||||||||
| Alabama – 1.3% | ||||||||
| $ 1,000 | Courtland Industrial Development Board, Alabama, Solid Waste Revenue Bonds, International | 6/15 at 100.00 | BBB | $ | 605,780 | |||
| Paper Company Project, Series 2005A, 5.200%, 6/01/25 (Alternative Minimum Tax) | ||||||||
| 690 | Phenix City Industrial Development Board, Alabama, Environmental Improvement Revenue Bonds, | 5/12 at 100.00 | BBB | 413,690 | ||||
| MeadWestvaco Corporation, Series 2002A, 6.350%, 5/15/35 (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| 1,690 | Total Alabama | 1,019,470 | ||||||
|
| ||||||||
| California – 18.1% | ||||||||
| 5,530 | Adelanto School District, San Bernardino County, California, General Obligation Bonds, Series | No Opt. Call | AA | 3,023,804 | ||||
| 1997A, 0.000%, 9/01/22 – MBIA Insured | ||||||||
| Brea Olinda Unified School District, California, General Obligation Bonds, Series 1999A: | ||||||||
| 2,000 | 0.000%, 8/01/21 – FGIC Insured | No Opt. Call | AA | 1,125,040 | ||||
| 2,070 | 0.000%, 8/01/22 – FGIC Insured | No Opt. Call | AA | 1,082,093 | ||||
| 2,120 | 0.000%, 8/01/23 – FGIC Insured | No Opt. Call | AA | 1,026,059 | ||||
| 1,000 | California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanante System, | 4/16 at 100.00 | A+ | 838,960 | ||||
| Series 2006, 5.250%, 4/01/39 | ||||||||
| 250 | California Housing Finance Agency, California, Home Mortgage Revenue Bonds, Series 2007E, | 2/17 at 100.00 | Aa2 | 187,353 | ||||
| 4.800%, 8/01/37 (Alternative Minimum Tax) | ||||||||
| 3,000 | California State Public Works Board, Lease Revenue Bonds, Department of Mental Health, | 6/14 at 100.00 | A | 2,737,350 | ||||
| Coalinga State Hospital, Series 2004A, 5.000%, 6/01/25 | ||||||||
| 1,000 | California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity | 7/15 at 100.00 | BBB | 577,820 | ||||
| Health System, Series 2005A, 5.000%, 7/01/39 | ||||||||
| 1,000 | Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement | 6/17 at 100.00 | BBB | 604,050 | ||||
| Asset-Backed Bonds, Series 2007A-1, 5.750%, 6/01/47 | ||||||||
| 2,000 | Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed | 6/13 at 100.00 | AAA | 2,389,400 | ||||
| Bonds, Series 2003A-1, 6.750%, 6/01/39 (Pre-refunded 6/01/13) (5) | ||||||||
| 500 | Lake Elsinore Public Finance Authority, California, Local Agency Revenue Refunding Bonds, | 10/13 at 102.00 | N/R | 383,675 | ||||
| Series 2003H, 6.375%, 10/01/33 | ||||||||
|
| ||||||||
| 20,470 | Total California | 13,975,604 | ||||||
|
| ||||||||
| Colorado – 6.5% | ||||||||
| 760 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Douglas | 7/12 at 100.00 | BBB | 641,334 | ||||
| County School District RE-1 – DCS Montessori School, Series 2002A, 6.000%, 7/15/22 | ||||||||
| 410 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, | 8/11 at 100.00 | AAA | 467,273 | ||||
| Peak-to-Peak Charter School, Series 2001, 7.500%, 8/15/21 (Pre-refunded 8/15/11) | ||||||||
| 1,000 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Weld | 6/11 at 100.00 | Ba1 (4) | 1,136,950 | ||||
| County School District 6 – Frontier Academy, Series 2001, 7.375%, 6/01/31 | ||||||||
| (Pre-refunded 6/01/11) | ||||||||
| 1,000 | Colorado Health Facilities Authority, Revenue Bonds, Evangelical Lutheran Good Samaritan | 6/16 at 100.00 | A– | 717,610 | ||||
| Society, Series 2005, 5.000%, 6/01/35 | ||||||||
| 2,000 | Denver City and County, Colorado, Airport System Revenue Refunding Bonds, Series 2000A, | 11/10 at 100.00 | A1 | 2,048,880 | ||||
| 6.000%, 11/15/16 – AMBAC Insured (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| 5,170 | Total Colorado | 5,012,047 | ||||||
|
| ||||||||
| Connecticut – 2.4% | ||||||||
| 1,480 | Capitol Region Education Council, Connecticut, Revenue Bonds, Series 1995, 6.750%, 10/15/15 | 4/09 at 100.00 | BBB | 1,481,110 | ||||
| 395 | Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator | 7/09 at 100.00 | BBB | 363,866 | ||||
| Lisbon Project, Series 1993A, 5.500%, 1/01/14 (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| 1,875 | Total Connecticut | 1,844,976 | ||||||
|
| ||||||||
| Florida – 2.5% | ||||||||
| 155 | Dade County Industrial Development Authority, Florida, Revenue Bonds, Miami Cerebral Palsy | 6/09 at 100.00 | N/R | 128,064 | ||||
| Residential Services Inc., Series 1995, 8.000%, 6/01/22 | ||||||||
| 1,250 | Martin County Industrial Development Authority, Florida, Industrial Development Revenue Bonds, | 6/09 at 100.00 | BB+ | 1,021,525 | ||||
| Indiantown Cogeneration LP, Series 1994A, 7.875%, 12/15/25 (Alternative Minimum Tax) | ||||||||
| 600 | Martin County Industrial Development Authority, Florida, Industrial Development Revenue | 6/09 at 100.00 | BB+ | 513,588 | ||||
| Refunding Bonds, Indiantown Cogeneration LP, Series 1995B, 8.050%, 12/15/25 (Alternative | ||||||||
| Minimum Tax) | ||||||||
| 495 | Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2006, | 5/14 at 101.00 | N/R | 260,717 | ||||
| 5.400%, 5/01/37 | ||||||||
|
| ||||||||
| 2,500 | Total Florida | 1,923,894 | ||||||
|
| ||||||||
| Illinois – 9.4% | ||||||||
| 1,060 | Chicago, Illinois, Tax Increment Allocation Bonds, Irving/Cicero Redevelopment Project, Series | 7/09 at 100.00 | N/R | 1,059,258 | ||||
| 1998, 7.000%, 1/01/14 | ||||||||
| 1,500 | Illinois Development Finance Authority, Pollution Control Revenue Refunding Bonds – CIPS Debt, | 6/09 at 100.00 | BBB– | 1,242,720 | ||||
| Series 1993C-2, 5.950%, 8/15/26 | ||||||||
| 500 | Illinois Development Finance Authority, Revenue Bonds, Chicago Charter School Foundation, | 12/12 at 100.00 | BBB (4) | 581,510 | ||||
| Series 2002A, 6.125%, 12/01/22 (Pre-refunded 12/01/12) | ||||||||
| 2,000 | Illinois Finance Authority, Revenue Bonds, Children’s Memorial Hospital, Tender Option Bond | 8/18 at 100.00 | AAA | 1,373,600 | ||||
| Trust 2008-1098, 9.057%, 8/15/33 – AGC Insured (IF) | ||||||||
| 1,550 | Illinois Health Facilities Authority, Revenue Bonds, Condell Medical Center, Series 2002, | 5/12 at 100.00 | Aaa | 1,715,664 | ||||
| 5.500%, 5/15/32 | ||||||||
| 1,305 | North Chicago, Illinois, General Obligation Bonds, Series 2005B, 5.000%, 11/01/25 – | 11/15 at 100.00 | AA | 1,306,383 | ||||
| FGIC Insured | ||||||||
|
| ||||||||
| 7,915 | Total Illinois | 7,279,135 | ||||||
|
| ||||||||
| Indiana – 3.3% | ||||||||
| 2,000 | Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Riverview Hospital, | 8/12 at 101.00 | Baa1 | 1,576,000 | ||||
| Series 2002, 6.125%, 8/01/31 | ||||||||
| 1,150 | Whitley County, Indiana, Solid Waste and Sewerage Disposal Revenue Bonds, Steel Dynamics Inc., | 11/10 at 102.00 | N/R | 1,012,437 | ||||
| Series 1998, 7.250%, 11/01/18 (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| 3,150 | Total Indiana | 2,588,437 | ||||||
|
| ||||||||
| Kentucky – 1.9% | ||||||||
| 1,500 | Louisville-Jefferson County Metropolitan Government, Kentucky, Health Facilities Revenue | 2/18 at 100.00 | A+ | 1,480,230 | ||||
| Bonds, Jewish Hospital & Saint Mary’s HealthCare Inc. Project, Series 2008, 6.125%, 2/01/37 | ||||||||
|
| ||||||||
| Louisiana – 2.6% | ||||||||
| 500 | Louisiana Local Government Enrvironmental Facilities and Community Development Authority, | 1/19 at 100.00 | AAA | 459,985 | ||||
| Revenue Refunding Bonds, City of Shreveport Airport System Project, Series 2008A, 5.750%, | ||||||||
| 1/01/28 – FSA Insured | ||||||||
| Louisiana Public Facilities Authority, Extended Care Facilities Revenue Bonds, Comm-Care | ||||||||
| Corporation Project, Series 1994: | ||||||||
| 125 | 11.000%, 2/01/14 (ETM) | No Opt. Call | N/R (4) | 154,173 | ||||
| 1,130 | 11.000%, 2/01/14 (ETM) | No Opt. Call | N/R (4) | 1,393,493 | ||||
|
| ||||||||
| 1,755 | Total Louisiana | 2,007,651 | ||||||
|
| ||||||||
| Maryland – 0.9% | ||||||||
| 1,000 | Maryland Energy Financing Administration, Revenue Bonds, AES Warrior Run Project, Series 1995, | 4/09 at 100.00 | N/R | 712,260 | ||||
| 7.400%, 9/01/19 (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| Massachusetts – 1.8% | ||||||||
| 335 | Massachusetts Development Finance Agency, Resource Recovery Revenue Bonds, Ogden Haverhill | 12/09 at 102.00 | BBB | 310,039 | ||||
| Associates, Series 1999A, 6.700%, 12/01/14 (Alternative Minimum Tax) | ||||||||
| 1,500 | Massachusetts Development Finance Agency, Revenue Bonds, Boston Architectural College, Series | 1/17 at 100.00 | N/R | 834,915 | ||||
| 2006, 5.000%, 1/01/37 – ACA Insured | ||||||||
| 270 | Massachusetts Industrial Finance Agency, Resource Recovery Revenue Refunding Bonds, Ogden | 6/09 at 102.00 | BBB | 246,899 | ||||
| Haverhill Project, Series 1998A, 5.450%, 12/01/12 (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| 2,105 | Total Massachusetts | 1,391,853 | ||||||
|
| ||||||||
| Michigan – 3.6% | ||||||||
| 1,000 | Delta County Economic Development Corporation, Michigan, Environmental Improvement Revenue | 4/12 at 100.00 | AAA | 1,152,420 | ||||
| Refunding Bonds, MeadWestvaco Corporation – Escanaba Paper Company, Series 2002B, 6.450%, | ||||||||
| 4/15/23 (Pre-refunded 4/15/12) (Alternative Minimum Tax) | ||||||||
| 1,880 | Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds, Sinai Hospital, | 7/09 at 100.00 | BB | 1,621,669 | ||||
| Series 1995, 6.625%, 1/01/16 | ||||||||
|
| ||||||||
| 2,880 | Total Michigan | 2,774,089 | ||||||
|
| ||||||||
| Missouri – 4.2% | ||||||||
| 4,450 | Missouri Environmental Improvement and Energy Resources Authority, Water Facility Revenue | 12/16 at 100.00 | AAA | 3,268,392 | ||||
| Bonds, Missouri-American Water Company, Series 2006, 4.600%, 12/01/36 – | ||||||||
| AMBAC Insured (Alternative Minimum Tax) (UB) | ||||||||
|
| ||||||||
| Montana – 1.1% | ||||||||
| 1,200 | Montana Board of Investments, Exempt Facility Revenue Bonds, Stillwater Mining Company, Series | 7/10 at 101.00 | B– | 806,796 | ||||
| 2000, 8.000%, 7/01/20 (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| Nebraska – 1.3% | ||||||||
| 1,000 | Washington County, Nebraska, Wastewater Facilities Revenue Bonds, Cargill Inc., Series 2002, | 11/12 at 101.00 | A | 966,360 | ||||
| 5.900%, 11/01/27 (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| New York – 6.1% | ||||||||
| 1,000 | Dormitory Authority of the State of New York, Revenue Bonds, Brooklyn Law School, Series | 7/13 at 100.00 | A3 | 1,006,760 | ||||
| 2003A, 5.500%, 7/01/15 – RAAI Insured | ||||||||
| 3,650 | Yates County Industrial Development Agency, New York, FHA-Insured Civic Facility Mortgage | 2/11 at 101.00 | AAA | 3,660,147 | ||||
| Revenue Bonds, Soldiers and Sailors Memorial Hospital, Series 2000A, 6.000%, 2/01/41 | ||||||||
|
| ||||||||
| 4,650 | Total New York | 4,666,907 | ||||||
|
| ||||||||
| Ohio – 3.7% | ||||||||
| 520 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue | 6/17 at 100.00 | BBB | 294,247 | ||||
| Bonds, Senior Lien, Series 2007A-2, 5.875%, 6/01/47 | ||||||||
| 1,000 | Erie County, Ohio, Hospital Facilities Revenue Bonds, Firelands Regional Medical Center | 8/16 at 100.00 | A | 710,200 | ||||
| Project, Series 2006, 5.250%, 8/15/46 | ||||||||
| 2,200 | Ohio Water Development Authority, Solid Waste Disposal Revenue Bonds, Bay Shore Power, Series | 9/09 at 102.00 | N/R | 1,819,598 | ||||
| 1998B, 6.625%, 9/01/20 (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| 3,720 | Total Ohio | 2,824,045 | ||||||
|
| ||||||||
| Pennsylvania – 2.4% | ||||||||
| 1,080 | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, West Penn | 11/10 at 102.00 | AAA | 1,253,804 | ||||
| Allegheny Health System, Series 2000B, 9.250%, 11/15/30 (Pre-refunded 11/15/10) | ||||||||
| 605 | Carbon County Industrial Development Authority, Pennsylvania, Resource Recovery Revenue | No Opt. Call | BBB– | 614,692 | ||||
| Refunding Bonds, Panther Creek Partners Project, Series 2000, 6.650%, 5/01/10 (Alternative | ||||||||
| Minimum Tax) | ||||||||
|
| ||||||||
| 1,685 | Total Pennsylvania | 1,868,496 | ||||||
|
| ||||||||
| Rhode Island – 0.4% | ||||||||
| 500 | Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, | 6/12 at 100.00 | BBB | 321,615 | ||||
| Series 2002A, 6.250%, 6/01/42 | ||||||||
|
| ||||||||
| South Carolina – 6.9% | ||||||||
| 2,500 | Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series | 12/12 at 101.00 | AA | 2,816,925 | ||||
| 2002, 5.500%, 12/01/13 | ||||||||
| 475 | Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 1991, 6.750%, | No Opt. Call | Baa1 (4) | 626,592 | ||||
| 1/01/19 – FGIC Insured (ETM) | ||||||||
| 1,105 | South Carolina JOBS Economic Development Authority, Economic Development Revenue Bonds, Bon | 11/12 at 100.00 | A– | 966,897 | ||||
| Secours Health System Inc., Series 2002B, 5.625%, 11/15/30 | ||||||||
| 895 | Tobacco Settlement Revenue Management Authority, South Carolina, Tobacco Settlement | 5/12 at 100.00 | BBB (4) | 947,877 | ||||
| Asset-Backed Bonds, Series 2001B, 6.000%, 5/15/22 (Pre-refunded 5/15/12) | ||||||||
|
| ||||||||
| 4,975 | Total South Carolina | 5,358,291 | ||||||
|
| ||||||||
| Tennessee – 3.8% | ||||||||
| 1,000 | Knox County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue | 4/12 at 101.00 | A1 | 1,001,700 | ||||
| Bonds, Baptist Health System of East Tennessee Inc., Series 2002, 6.375%, 4/15/22 | ||||||||
| Shelby County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue | ||||||||
| Bonds, Methodist Healthcare, Series 2002: | ||||||||
| 375 | 6.500%, 9/01/26 (Pre-refunded 9/01/12) | 9/12 at 100.00 | AAA | 439,286 | ||||
| 625 | 6.500%, 9/01/26 (Pre-refunded 9/01/12) | 9/12 at 100.00 | AAA | 732,144 | ||||
| 1,500 | Sumner County Health, Educational, and Housing Facilities Board, Tennessee, Revenue Refunding | 11/17 at 100.00 | N/R | 744,105 | ||||
| Bonds, Sumner Regional Health System Inc., Series 2007, 5.500%, 11/01/37 | ||||||||
|
| ||||||||
| 3,500 | Total Tennessee | 2,917,235 | ||||||
|
| ||||||||
| Texas – 9.9% | ||||||||
| 1,500 | Cameron Education Finance Corporation, Texas, Charter School Revenue Bonds, Faith Family | 8/16 at 100.00 | BBB– | 872,085 | ||||
| Academy Charter School, Series 2006A, 5.250%, 8/15/36 – ACA Insured | ||||||||
| 2,000 | Gulf Coast Waste Disposal Authority, Texas, Sewerage and Solid Waste Disposal Revenue Bonds, | 4/12 at 100.00 | BBB+ | 1,551,460 | ||||
| Anheuser Busch Company, Series 2002, 5.900%, 4/01/36 (Alternative Minimum Tax) | ||||||||
| 2,000 | Matagorda County Navigation District 1, Texas, Collateralized Revenue Refunding Bonds, Houston | 10/13 at 101.00 | BBB+ | 1,908,260 | ||||
| Light and Power Company, Series 1995, 4.000%, 10/15/15 – MBIA Insured | ||||||||
| North Texas Thruway Authority, Second Tier System Revenue Refunding Bonds, Tender Option Bond | ||||||||
| Trust 2903: | ||||||||
| 150 | 17.030%, 1/01/38 (IF) | 1/18 at 100.00 | A3 | 97,555 | ||||
| 850 | 16.930%, 1/01/38 (IF) | 1/18 at 100.00 | A3 | 534,415 | ||||
| Weslaco Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Knapp | ||||||||
| Medical Center, Series 2002: | ||||||||
| 2,000 | 6.250%, 6/01/25 | 6/12 at 100.00 | BBB+ | 2,255,320 | ||||
| 50 | 6.250%, 6/01/32 | 6/12 at 100.00 | BBB+ | 56,383 | ||||
| 1,000 | West Texas Independent School District, McLennan and Hill Counties, General Obligation | 8/13 at 51.84 | AAA | 410,080 | ||||
| Refunding Bonds, Series 1998, 0.000%, 8/15/25 | ||||||||
|
| ||||||||
| 9,550 | Total Texas | 7,685,558 | ||||||
|
| ||||||||
| Virgin Islands – 3.0% | ||||||||
| 2,545 | Virgin Islands Public Finance Authority, Senior Lien Matching Fund Loan Note, Series 2004A, | 10/14 at 100.00 | BBB | 2,321,880 | ||||
| 5.250%, 10/01/19 | ||||||||
|
| ||||||||
| Virginia – 3.1% | ||||||||
| 1,000 | Chesterfield County Industrial Development Authority, Virginia, Pollution Control Revenue | 11/10 at 102.00 | Baa1 | 1,047,620 | ||||
| Bonds, Virginia Electric and Power Company, Series 1987A, 5.875%, 6/01/17 | ||||||||
| 1,500 | Mecklenburg County Industrial Development Authority, Virginia, Revenue Bonds, UAE Mecklenburg | 10/12 at 100.00 | Baa1 | 1,363,620 | ||||
| Cogeneration LP, Series 2002, 6.500%, 10/15/17 (Alternative Minimum Tax) | ||||||||
|
| ||||||||
| 2,500 | Total Virginia | 2,411,240 | ||||||
|
| ||||||||
| Washington – 0.4% | ||||||||
| 500 | Washington State Health Care Facilities Authority, Revenue Bonds, Northwest Hospital and | No Opt. Call | N/R | 309,465 | ||||
| Medical Center of Seattle, Series 2007, 5.700%, 12/01/32 | ||||||||
|
| ||||||||
| West Virginia – 0.6% | ||||||||
| 550 | Mason County, West Virginia, Pollution Control Revenue Bonds, Appalachian Power Company, | 10/11 at 100.00 | BBB | 482,719 | ||||
| Series 2003L, 5.500%, 10/01/22 | ||||||||
|
| ||||||||
| Wisconsin – 1.2% | ||||||||
| 1,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Carroll College Inc., | 10/11 at 100.00 | BBB | 952,447 | ||||
| Series 2001, 6.250%, 10/01/21 | ||||||||
|
| ||||||||
| $ 94,335 | Total Investments (cost $85,872,395) – 102.4% | 79,171,092 | ||||||
|
|
| |||||||
| Floating Rate Obligations – (4.3)% | (3,335,000) | |||||||
|
| ||||||||
| Other Assets Less Liabilities – 1.9% | 1,460,589 | |||||||
|
| ||||||||
| Net Assets – 100% | $ | 77,296,681 | ||||||
|
| ||||||||
| (1) | All percentages shown in the Portfolio are based on net assets. | |
| (2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. | |
| There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities | ||
| may be subject to periodic principal paydowns. | ||
| (3) | Ratings: Using the higher of Standard & Poor’s Group (“Standard & Poor’s”) or Moody’s Investor Service, | |
| Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s are considered to | ||
| be below investment grade. | ||
| The Portfolio of Investments may reflect the ratings on certain bonds insured by ACA, AGC, AMBAC, CIFG, | ||
| FGIC, FSA, MBIA, RAAI and SYNCORA as of January 31, 2009. Subsequent to January 31, 2009, and | ||
| during the period this Portfolio of Investments was prepared, there may have been reductions to the | ||
| ratings of certain bonds resulting from changes to the ratings of the underlying insurers both during the | ||
| period and after period end. Such reductions would likely reduce the effective rating of many of the bonds | ||
| insured by that insurer or insurers presented at period end. | ||
| (4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities | |
| which ensure the timely payment of principal and interest. Such investments are normally considered to | ||
| be equivalent to AAA rated securities. | ||
| (5) | Investment, or a portion of investment, has been pledged as a collateral for Recourse Trusts. | |
| N/R | Not rated. | |
| (ETM) | Escrowed to maturity. | |
| (IF) | Inverse floating rate investment. | |
| (UB) | Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to | |
| SFAS No. 140. |
Fair Value Measurement
During the current fiscal period, the Fund adopted the provisions of Statement of Financial Accounting Standards No. 157 (SFAS No. 157) “Fair Value Measurements.” SFAS No. 157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about fair value measurements. In determining the value of the Fund’s investments various inputs are used. These inputs are summarized in the three broad levels listed below:
| Level 1 – Quoted prices in active markets for identical securities. |
| 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 management’s assumptions in determining the fair |
| value of investments). |
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
The following is a summary of the Fund’s fair value measurements as of January 31, 2009:
| Level 1 | Level 2 | Level 3 | Total | |||||
|
| ||||||||
| Investments | $ — | $79,171,092 | $ — | $79,171,092 | ||||
|
| ||||||||
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate transactions subject to SFAS No. 140. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
At January 31, 2009, the cost of investments was $82,424,446.
Gross unrealized appreciation and gross unrealized depreciation of investments at January 31, 2009, were as follows:
|
| ||
| Gross unrealized: | ||
| Appreciation | $ 3,559,396 | |
| Depreciation | (10,150,406) | |
|
| ||
| Net unrealized appreciation (depreciation) of investments | $ (6,591,010) | |
|
| ||
Item 2. Controls and Procedures.
Item 3. Exhibits.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.
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.
(Registrant) Nuveen Municipal Income Fund, Inc.
By (Signature and Title)
/s/ Kevin J.
McCarthy
Kevin
J.
McCarthy
Vice President and Secretary
Date April 1, 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 (Signature and Title)
/s/ Gifford R.
Zimmerman
Gifford R.
Zimmerman
Chief Administrative Officer (principal executive officer)
Date April 1, 2009
By (Signature and Title)
/s/ Stephen D.
Foy
Stephen
D.
Foy
Vice President and Controller (principal financial officer)
Date April 1, 2009