form-853
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 811-5245 
 
DREYFUS STRATEGIC MUNICIPALS, 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 Strategic Municipals, Inc.             
Statement of Investments    December 31, 2004 (Unaudited) 
 
Long-Term Municipal Investments--150.6%             
    Principal     
    Amount ($)    Value ($) 
Alabama--5.7%             
 
Houston County Health Care Authority             
6.25%, 10/1/2030 (Insured; AMBAC)    8,000,000        9,052,400 
 
Jefferson County, Limited Obligation School Warrant             
5.50%, 1/1/2022    4,000,000        4,316,400 
 
Jefferson County, Sewer Revenue:             
5.25%, 2/1/2023 (Insured; FGIC) (Prerefunded 8/1/2012)    5,000,000    a    5,659,300 
5%, 2/1/2041 (Insured; FGIC) (Prerefunded 8/1/2012)    11,750,000    a    13,103,482 
 
Alaska--2.0%             
 
Alaska Housing Finance Corp.             
6%, 6/1/2049 (Insured; MBIA)    4,000,000        4,182,160 
 
Anchorage, Wastewater Revenue             
5.125%, 5/1/2034 (Insured; MBIA)    6,620,000        6,878,379 
 
Arkansas--2.7%             
 
Arkansas Development Finance Authority, SFMR             
(Mortgage Backed Securities Program):             
6.45%, 7/1/2031 (Guaranteed; GNMA, FNMA)    2,550,000        2,682,932 
6.25%, 1/1/2032 (Guaranteed; GNMA)    3,835,000        3,979,311 
 
Coconino County, PCR             
(Nevada Power Co. Project) 6.375%, 10/1/2036    2,500,000        2,548,550 
 
Little Rock School District             
5.25%, 2/1/2030 (Insured; FSA)    6,000,000        6,324,480 
 
Arizona--5.9%             
 
Maricopa Pollution Control Corp., PCR             
(Public Service Co.) 5.75%, 11/1/2022    6,000,000        6,162,360 
 
Phoenix Civic Improvement Corp., Wastewater System Revenue             
5%, 7/1/2027 (Insured; MBIA)    2,995,000        3,120,311 
 
Pima County Industrial Development Authority, Industrial             
Revenue (Tucson Electric Power Co. Project) 6%, 9/1/2029    14,080,000        14,079,718 
 
Scottsdale Industrial Development Authority, HR             
(Scottsdale Healthcare) 5.80%, 12/1/2031    6,000,000        6,370,740 
 
Tucson, Water System Revenue             
5%, 7/1/2021 (Insured; FGIC)    3,500,000        3,698,135 
 
Page 1         


California--14.2%             
 
California Infrastructure and Economic Development Bank,         
Revenue (Bay Area Toll Bridges)             
5.25%, 7/1/2017 (Insured; FSA)    12,360,000        13,681,778 
 
State of California:             
8.307%, 12/1/2018 (Insured; FSA)    10,000,000    b,c    10,237,100 
5.50%, 4/1/2028    4,000,000        4,308,720 
Economic Recovery 5%, 7/1/2016    10,000,000        10,694,300 
 
California Department of Water Resources, Power Supply Revenue:         
5.50%, 5/1/2013 (Insured; AMBAC)    11,080,000        12,653,360 
5.125%, 5/1/2018 (Insured; FGIC)    6,000,000        6,511,740 
 
Golden State Tobacco Securitization Corp., Tobacco Settlement         
Revenue:             
7.80%, 6/1/2042    8,100,000        8,858,808 
7.90%, 6/1/2042    2,000,000        2,200,240 
 
Los Angeles Unified School District             
5.25%, 7/1/2020 (Insured; FSA)    7,200,000        7,893,144 
 
Oakland 5%, 1/15/2026 (Insured; MBIA)    2,760,000        2,873,905 
 
Colorado--3.6%             
 
Denver City and County, Special Facilities Airport             
Revenue (United Airlines Project)             
6.875%, 10/1/2032    6,950,000    d    5,646,875 
 
Northwest Parkway Public Highway Authority,             
Revenue 7.125%, 6/15/2041    6,750,000        7,362,900 
 
Silver Dollar Metropolitan District 7.05%, 12/1/2030    4,935,000        5,360,792 
 
Southlands Metropolitan District Number 1             
7.125%, 12/1/2034    2,000,000        1,997,360 
 
Florida--2.7%             
 
Florida Housing Finance Corp., Housing Revenue             
(Nelson Park Apartments)             
6.40%, 3/1/2040 (Insured; FSA)    12,380,000        13,112,896 
 
Orange County Health Facility Authority, HR             
(Regional Healthcare Systems) 6%, 10/1/2026    2,000,000        2,114,740 
 
Georgia-2.2%             
 
Augusta, Water and Sewer Revenue             
5.25%, 10/1/2039 (Insured; FSA)    3,000,000        3,177,990 
 
Brooks County Development Authority, Sewer Revenue,         

Page 2

Health and Housing Facilities             
5.70%, 1/20/2039 (Insured; GNMA)    4,445,000        4,792,955 
 
Milledgeville-Baldwin County Development Authority, Revenue             
(Georgia College & State Foundation):             
6% 9/1/2013    2,090,000        2,337,122 
6%, 9/1/2033    2,000,000        2,135,520 
 
Hawaii--.6%             
 
Hawaii Department of Transportation, Special Facility Revenue             
(Caterair International Corp. Project) 10.125%, 12/1/2010    3,200,000        3,205,344 
 
Idaho--.6%             
 
Power County Industrial Development Corp, SWDR             
(FMC Corp. Project) 6.45%, 8/1/2032    3,250,000        3,337,425 
 
Illinois--9.2%             
 
Chicago:             
6.125%, 1/1/2028 (Insured; FGIC)    15,815,000        18,108,808 
(Wastewater Transmission Revenue)             
6%, 1/1/2030 (Insured; MBIA) (Prerefunded 1/1/2010)    3,000,000    a    3,473,400 
 
Chicago-O'Hare International Airport, Special Facility Revenue:             
(American Airlines Inc. Project) 8.20%, 12/1/2024    5,000,000        4,320,300 
(United Airlines Inc. Project) 6.75%, 11/1/2011    2,000,000    d    620,000 
 
Illinois Educational Facilities Authority, Revenue             
(University Of Chicago)             
5.125%, 7/1/2038 (Insured; MBIA)    7,000,000        7,139,650 
 
Illinois Health Facilities Authority, Revenue:             
(Advocate Network Health Care) 6.125%, 11/15/2022    4,020,000        4,473,818 
(OSF Healthcare System) 6.25%, 11/15/2029    7,730,000        8,198,283 
(Swedish American Hospital) 6.875%, 11/15/2030    4,980,000        5,518,189 
 
Indiana--2.4%             
 
Franklin Township Independent School Building Corp.,             
First Mortgage 6.125%, 1/15/2022 (Prerefunded 7/15/2010)    6,500,000    a    7,664,865 
 
Indiana Housing Finance Authority, SFMR 5.95%, 1/1/2029    1,690,000        1,738,571 
 
Petersburg, PCR (Indiana Power and Light)             
6.375%, 11/1/2029    4,150,000        4,378,291 
 
Kansas--4.9%             
 
Kansas Development Finance Authority, Revenue:             
(Board of Regents-Scientific Resource)             
5%, 10/1/2021 (Insured; AMBAC)    5,290,000        5,662,998 
Health Facility (Sisters of Charity) 6.25%, 12/1/2028    3,000,000        3,369,060 
 
 
Page 3         


Wyandotte County (Kansas University School District No. 500)             
5.25%, 9/1/2015 (Insured; FSA)    6,455,000        7,301,186 
 
Wichita, HR (Christian Health System Inc.)             
6.25%, 11/15/2024    10,000,000        11,043,300 
 
Louisiana--.2%             
 
Parish of Saint James, SWDR (Freeport-McMoRan Partnership             
Project) 7.70%, 10/1/2022    1,390,000        1,392,335 
 
Maine--.6%             
 
Maine Housing Authority, Mortgage 5.30%, 11/15/2023    3,335,000        3,503,084 
 
Maryland--1.4%             
 
Maryland Economic Development Corp., Student             
Housing Revenue (University of Maryland):             
6.50%, 6/1/2027    3,000,000        3,276,840 
5.75%, 10/1/2033    4,500,000        4,678,245 
 
Massachusetts--2.4%             
 
Massachusetts Industrial Finance Agency, Revenue             
(Ogden Haverhill Project) 5.60%, 12/1/2019    6,000,000        6,003,840 
 
Massachusetts Health and Educational Facilities Authority,             
Revenue:             
(Civic Investments) 9%, 12/15/2015    2,000,000        2,326,640 
(Partners Healthcare System) 5.75%, 7/1/2032    5,000,000        5,449,700 
 
Michigan--4.5%             
 
Michigan Hospital Finance Authority, HR:             
(Ascension Health Credit)             
6.125%, 11/15/2026 (Prerefunded 11/15/2009)    5,000,000    a    5,801,950 
(Genesys Health System Obligated Group)             
8.125%, 10/1/2021 (Prerefunded 10/1/2005)    5,000,000    a    5,322,500 
 
Michigan Strategic Fund:             
RRR (Detroit Edison Co.)             
5.25%, 12/15/2032    3,000,000        3,128,610 
SWDR (Genesee Power Station Project)             
7.50%, 1/1/2021    12,040,000        11,309,533 
 
Minnesota--2.7%             
 
Duluth Economic Development Authority, Health             
Care Facilities Revenue (Saint Luke's             
Hospital) 7.25%, 6/15/2032    5,000,000        5,274,000 
 
Saint Paul Port Authority, Hotel Facility Revenue             
(Radisson Kellogg Project) 7.375%, 8/1/2029    3,000,000        3,141,810 
 
 
Page 4         


United Hospital District of Todd, Morrison, Cass             
and Wadena Counties, General Obligation             
Health Care Facilities Revenue (Lakewood             
Health System) 5.125%, 12/1/2024    1,500,000        1,534,005 
 
Winona, Health Care Facilities Revenue             
(Winona Health) 6%, 7/1/2026    5,000,000        5,239,600 
 
Mississippi--3.4%             
 
Claiborne County, PCR             
(System Energy Resources, Inc.) 6.20%, 2/1/2026    4,545,000        4,545,773 
 
Mississippi Business Finance Corp., PCR (System Energy             
Resources Inc. Project) 5.875%, 4/1/2022    14,310,000        14,354,218 
 
Missouri--2.5%             
 
Missouri Development Finance Board, Infrastructure             
Facilities Revenue (Branson):             
5.375%, 12/1/2027    2,000,000        2,059,640 
5.50%, 12/1/2032    4,500,000        4,649,850 
 
Missouri Health and Educational Facilities Authority,             
Health Facilities Revenue (Saint Anthony's             
Medical Center) 6.25%, 12/1/2030    6,750,000        7,215,818 
 
Montana--.4%             
 
Montana Board of Housing, Single Family Mortgage             
6.45%, 6/1/2029    2,205,000        2,262,859 
 
Nevada--2.5%             
 
Washoe County (Reno-Sparks Convention Center)             
6.40%, 7/1/2029 (Insured; FSA) (Prerefunded 1/1/2010)    12,000,000    a    14,005,680 
 
New Hampshire--2.7%             
 
New Hampshire Business Finance Authority, PCR             
(Public Service Co. of New Hampshire)             
6%, 5/1/2021 (Insured; AMBAC)    7,000,000        7,720,650 
 
New Hampshire Health and Educational Facilities Authority,             
Revenue (Exeter Project):             
6%, 10/1/2024    1,000,000        1,088,630 
5.75%, 10/1/2031    1,000,000        1,053,420 
 
New Hampshire Industrial Development Authority, PCR             
(Connecticut Light and Power) 5.90%, 11/1/2016    5,000,000        5,136,200 
 
New Jersey--7.3%             
 
New Jersey Economic Development Authority,             
Cigarette Tax Revenue 5.75%, 6/15/2034    2,500,000        2,602,175 
 
Page 5         


New Jersey Health Facilities Financing Authority, Revenue             
(Christian Health Care Center) 8.75%, 7/1/2018             
(Prerefunded 7/1/2006)    13,265,000    a    14,601,581 
 
New Jersey Transportation Trust Fund Authority,             
Transportation System 5.50%, 6/15/2017    9,000,000        9,977,310 
 
New Jersey Turnpike Authority, Turnpike Revenue             
5%, 1/1/2035 (Insured; AMBAC)    4,500,000        4,576,365 
 
Tobacco Settlement Financing Corp.:             
6.75%, 6/1/2039    4,000,000        4,000,960 
7%, 6/1/2041    5,000,000        5,054,900 
 
New Mexico--1.7%             
 
Farmington, PCR:             
(El Paso Electric Co. Project)             
6.375%, 6/1/2032    5,370,000        5,469,130 
(Tucson Electric Power Co., San Juan)             
6.95%, 10/1/2020    4,000,000        4,199,960 
 
New York--11.8%             
 
Long Island Power Authority, New York Electric System Revenue             
7.637% 12/1/2016    10,000,000    b,c    11,615,000 
 
City of New York:             
5.75%, 8/1/2011 (Insured; MBIA)    8,465,000        9,727,216 
5.75%, 8/1/2014    9,500,000        10,647,125 
 
New York City Municipal Water Finance Authority, Water             
and Sewer System Revenue 5.125%, 6/15/2032    5,000,000        5,138,050 
 
Tobacco Settlement Financing Corp.:             
5.50%, 6/1/2020    16,000,000        17,598,240 
5.25%, 6/1/2021 (Insured; AMBAC)    5,000,000        5,396,400 
 
Triborough Bridge and Tunnel Authority, Revenue             
5.25%, 11/15/2030    5,220,000        5,493,737 
 
North Dakota--.3%             
 
North Dakota Housing Finance Agency, Home Mortgage Revenue             
(Housing Finance Program) 6.15%, 7/1/2031    1,745,000        1,780,231 
 
Ohio--5.8%             
 
Cincinnati , Water System Revenue:             
5%, 12/1/2021    3,800,000        3,990,038 
5%, 12/1/2023    3,000,000        3,132,810 
 
Cuyahoga County , Revenue 6%, 1/1/2032    750,000        814,118 
 
 
Page 6         


Mahoning County, Hospital Facilities Revenue         
(Forum Health Obligation Group) 6%, 11/15/2032    7,000,000    7,468,300 
 
Ohio Air Quality Development Authority, PCR         
(Cleveland Electric Illuminating)         
6.10%, 8/1/2020 (Insured; ACA)    3,000,000    3,163,140 
 
Ohio Municipal Electric Generation Agency         
(Joint Venture 5)         
5%, 2/15/2022 (Insured; AMBAC)    4,500,000    4,768,515 
 
Ohio Water Development Authority, Pollution Control         
Facilities Revenue (Cleveland Electric         
Illuminating) 6.10%, 8/1/2020 (Insured; ACA)    4,350,000    4,586,553 
 
Toledo Lucas County Port Authority, Airport Revenue         
(Baxter Global Project)         
6.25%, 11/1/2013    4,400,000    4,454,296 
 
Oklahoma--2.4%         
 
Oklahoma Industries Authority         
(Health System Obligated Group) 5.75%, 8/15/2029    12,230,000    13,520,632 
 
Oregon--3.1%         
 
Port of Portland, International Airport Revenue         
(Portland International Airport)         
5.50%, 7/1/2024 (Insured; AMBAC)    5,000,000    5,471,100 
 
Tigard - Tualatin School District No. 23         
5.375%, 6/15/2019 (Insured; MBIA)    3,000,000    3,328,050 
 
Western Generation Agency, Cogeneration Project Revenue         
(Wauna Cogeneration Project):         
7.40%, 1/1/2016    5,750,000    5,893,980 
7.125%, 1/1/2021    2,900,000    2,972,616 
 
Pennsylvania--3.0%         
 
Abington School District         
5.125%, 10/1/2034 (Insured; FSA)    4,085,000    4,261,145 
 
Pennsylvania Economic Development Financing Authority,         
Exempt Facilities Revenue         
(Reliant Energy Seward, LLC Project):         
Series 2002B 6.75%, 12/1/2036    7,000,000    7,289,030 
Series 2003A 6.75%, 12/1/2036    1,000,000    1,041,290 
 
York County Hospital Authority, Revenue         
(Health Center - Lutheran Social Services) 6.50%, 4/1/2022    4,250,000    4,257,182 
 
South Carolina--3.8%         
 
Greenville County School District , Installment Purchase Revenue     

Page 7

(Building Equity Sooner for Tomorrow):             
5.875%, 12/1/2016    6,000,000        6,800,580 
5.50%, 12/1/2028    5,000        5,320 
8.58%, 12/1/2028    7,810,000    b,c    8,810,227 
 
Greenville Hospital System, Hospital Facilities Revenue             
5.50%, 5/1/2026 (Insured; AMBAC)    5,000,000        5,476,600 
 
Tennessee--4.3%             
 
Johnson City Health and Educational Facilities Board, HR:             
7.50%, 7/1/2025    5,000,000        5,982,200 
7.50%, 7/1/2033    3,000,000        3,557,700 
 
Memphis Center City Revenue Finance Corp., Tennessee Sports             
Facility Revenue (Memphis Redbirds) 6.50%, 9/1/2028    10,000,000        10,101,000 
 
Tennessee Housing Development Agency (Homeownership             
Program) 6.40%, 7/1/2031    4,355,000        4,508,862 
 
Texas--10.7%             
 
Alliance Airport Authority Inc., Special Facilities Revenue             
(American Airlines Inc. Project) 7.50%, 12/1/2029    3,500,000        2,752,785 
 
Austin Convention Enterprises Inc., Convention Center             
Hotel Revenue:             
5.75%, 1/1/2016    5,600,000        5,830,104 
6.70%, 1/1/2028    4,000,000        4,283,560 
5.75%, 1/1/2032    6,000,000        6,163,560 
 
Harris County Health Facilities Development Corp., HR             
(Memorial Hermann Hospital System Project)             
6.375%, 6/1/2029    8,500,000        9,353,400 
 
Sabine River Authority, PCR (TXU Electric Co. Project)             
6.45%, 6/1/2021    11,300,000        12,196,881 
 
Sam Rayburn Municipal Power Agency, Power Supply             
System Revenue 5.75%, 10/1/2021    6,000,000        6,630,240 
 
Texas Department of Housing and Community Affairs,             
Collateralized Home Mortgage Revenue 11.691%, 7/2/2024    2,000,000    b    2,015,660 
 
Texas Turnpike Authority, Central Texas Turnpike             
System Revenue 5.75%, 8/15/2038 (Insured; AMBAC)    7,100,000        7,930,771 
 
Tyler Health Facilities Development Corp., HR             
(East Texas Medical Center Regional Health Care             
System Project) 6.75%, 11/1/2025    3,000,000        3,007,560 
 
Utah--.7%             
 
Carbon County, SWDR (Sunnyside Cogeneration)             
7.10%, 8/15/2023    4,027,000        3,964,139 
 
Page 8         


Vermont--.4%         
Vermont Housing Finance Agency, Single Family Housing         
6.40%, 11/1/2030 (Insured; FSA)    2,030,000    2,041,550 
Virginia--2.1%         
Greater Richmond Convention Center Authority, Hotel Tax         
Revenue (Convention Center Expansion Project)         
6.25%, 6/15/2032    10,500,000    11,881,380 
Washington--3.3%         
Energy Northwest, Wind Project Revenue 5.875%, 7/1/2020    3,000,000    3,215,880 
Public Utility District No. 1 of Pend Orielle County, Electric         
Revenue 6.375%, 1/1/2015    3,755,000    3,897,352 
Seattle, Water System Revenue         
6%, 7/1/2029 (Insured; FGIC)    10,000,000    11,189,000 
West Virginia--3.1%         
Braxton County, SWDR (Weyerhaeuser Co. Project)         
6.125%, 4/1/2026    14,000,000    14,786,800 
West Virginia Water Development Authority, Water         
Development Revenue 6.375%, 7/1/2039    2,250,000    2,559,420 
Wisconsin--5.4%         
Badger Tobacco Asset Securitization Corp., Tobacco         
Settlement Revenue 7%, 6/1/2028    22,995,000    23,532,623 
Madison, IDR         
(Madison Gas & Electric Co.) 5.875%, 10/1/2034    2,390,000    2,566,119 
Wisconsin Health and Educational Facilities Authority, Health,         
Hospital and Nursing Home Revenue         
(Aurora Health Care Inc.) 6.40%, 4/15/2033    4,000,000    4,257,720 
U. S. Related--1.4%         
Guam Housing Corp., SFMR         
5.75%, 9/1/2031 (Collateralized; FHLMC)    965,000    1,064,057 
Puerto Rico Highway and Transportation Authority, Transportation     
Revenue 6%, 7/1/2039 (Prerefunded 7/1/2010)    6,000,000 a    6,939,180 
TOTAL INVESTMENTS--100.0%         
(cost $796,025,258)    150.6%    846,733,226 
CASH AND RECEIVABLES (NET)    1.8%    434,355 
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Preferred Stock, at Redemption Value    -50.7%    (285,000,000) 
NET ASSETS    101.7%    562,167,581 

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 Inverse floater security-the interest rate is subject to change periodically. 
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 Investment Adviser. At December 31, 2004 these securities 
amounted to $30,662,327, 5.5% of net assets. 
d Non-Income producing security - interest payment in default. 
e 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. 

Page 10

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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 MUNICIPALS, 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 

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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