formnq853
    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:    12/31/05 

FORM N-Q 

Item 1.    Schedule of Investments. 

Dreyfus Strategic Municipals, Inc.         
Statement of Investments         
December 31, 2005 (Unaudited)         
 
    Principal     
Long-Term Municipal Investments--147.7%    Amount ($)    Value ($) 
 
Alabama--5.3%         
 
Houston County Health Care Authority         
6.25%, 10/1/2030 (Insured; AMBAC)    8,000,000    8,752,800 
 
Jefferson County, Limited Obligation School Warrant:         
5.25%, 1/1/2018    16,000,000    17,087,040 
5.50%, 1/1/2022    4,000,000    4,336,200 
 
Alaska--.7%         
 
Alaska Housing Finance Corp.         
6%, 6/1/2049 (Insured; MBIA)    4,000,000    4,160,520 
 
Arizona--3.5%         
 
Coconino County Pollution Control Corp., PCR         
(Nevada Power Co. Project) 6.375%, 10/1/2036    3,500,000    3,580,185 
 
Maricopa Pollution Control Corp., PCR         
(Public Service Co.) 5.75%, 11/1/2022    6,000,000    6,090,540 
 
Scottsdale Industrial Development Authority, HR         
(Scottsdale Healthcare) 5.80%, 12/1/2031    6,000,000    6,443,700 
 
Tucson, Water System Revenue         
5%, 7/1/2021 (Insured; FGIC)    3,500,000    3,698,660 
 
Arkansas--2.5%         
 
Arkansas Development Finance Authority, SFMR         
(Mortgage Backed Securities Program):         
6.45%, 7/1/2031 (Collateralized: FNMA and GNMA)    605,000    634,705 
6.25%, 1/1/2032 (Collateralized; GNMA)    3,110,000    3,138,208 
 
Little Rock School District         
5.25%, 2/1/2030 (Insured; FSA)    6,000,000    6,307,200 
 
Pulaski County, HR         
(Arkansas Children's Hospital Project)         
5%, 3/1/2035 (Insured; AMBAC)    4,000,000    4,136,520 

California--9.7%             
 
California:             
5.50%, 4/1/2028    4,000,000        4,346,160 
5.25%, 4/1/2034    5,000,000        5,271,650 
 
California Infrastructure and Economic Development Bank,             
Revenue (Bay Area Toll Bridges)             
5.25%, 7/1/2017 (Insured; FSA)    12,360,000        13,478,333 
 
California Pollution Control Financing Authority, SWDR             
(Keller Canyon Landfill Co. Project) 6.875%, 11/1/2027    2,000,000        2,006,240 
 
California Statewide Communities Development Authority,             
Revenue (Bentley School) 6.75%, 7/1/2032    2,000,000        2,186,740 
 
Golden State Tobacco Securitization Corp:             
Tobacco Settlement Revenue:             
5%, 6/1/2021    1,945,000        1,959,899 
7.80%, 6/1/2042    8,100,000        9,744,381 
7.90%, 6/1/2042 (LOC; Bank of New York)    2,000,000        2,418,500 
 
Los Angeles Unified School District             
5.25%, 7/1/2020 (Insured; FSA)    7,200,000        7,826,976 
 
State Public Works Board of California, LR,             
Department of General Services (Butterfield             
State Office Complex) 5.25%, 6/1/2030    5,000,000        5,298,950 
 
Colorado--5.1%             
 
Beacon Point Metropolitan District             
6.25%, 12/1/2035    2,000,000        2,014,560 
 
Colorado Housing and Finance Authority             
(Single Family Program)             
6.60%, 8/1/2032 (Collateralized; FHA)    2,615,000        2,689,161 
 
Denver City and County, Special Facilities Airport             
Revenue (United Airlines Project)             
6.875%, 10/1/2032    7,135,000    a    6,738,865 
 
Northwest Parkway Public Highway Authority,             
Revenue 7.125%, 6/15/2041    10,750,000        10,234,860 
 
Silver Dollar Metropolitan District 7.05%, 12/1/2006    4,870,000    b    5,025,548 
 
Southlands Metropolitan District Number 1             
7.125%, 12/1/2034    2,000,000        2,183,260 

Florida--3.8%             
 
Deltona, Utilities System Revenue             
5.125% 10/1/2027 (Insured; MBIA)    6,000,000        6,345,300 
 
Florida Housing Finance Corp., Housing Revenue             
(Nelson Park Apartments)             
6.40%, 3/1/2040 (Insured; FSA)    12,380,000        13,050,253 
 
Orange County Health Facility Authority, HR             
(Regional Healthcare Systems) 6%, 10/1/2026    2,000,000        2,111,140 
 
Georgia--2.2%             
 
Augusta, Water and Sewer Revenue             
5.25%, 10/1/2039 (Insured; FSA)    3,000,000        3,200,910 
 
Brooks County Development Authority, Sewer Revenue,             
Health and Housing Facilities             
5.70%, 1/20/2039 (Collateralized; GNMA)    4,445,000        4,887,144 
 
Milledgeville-Baldwin County Development Authority, Revenue         
(Georgia College and State Foundation):             
6%, 9/1/2013    2,090,000        2,312,689 
6%, 9/1/2033    2,000,000        2,172,780 
 
Hawaii--.5%             
 
Hawaii Department of Transportation, Special Facility Revenue         
(Caterair International Corp. Project) 10.125%, 12/1/2010    2,800,000        2,807,028 
 
Idaho--.6%             
 
Power County Industrial Development Corp, SWDR             
(FMC Corp. Project) 6.45%, 8/1/2032    3,250,000        3,418,740 
 
Illinois--13.1%             
 
Chicago:             
6.125%, 7/1/2010 (Insured; FGIC)    1,250,000    b    1,399,625 
6.125%, 7/1/2010 (Insured; FGIC)    14,565,000    b    16,308,430 
SFMR 6.55%, 4/1/2033             
(Collateralized: FHLMC, FNMA and GNMA)    4,100,000        4,233,004 
(Wastewater Transmission Revenue)             
6%, 1/1/2010 (Insured; MBIA)    3,000,000    b    3,316,410 
 
Chicago-O'Hare International Airport, Special Facility Revenue         
(American Airlines Inc. Project) 8.20%, 12/1/2024    9,000,000        8,537,220 

Illinois Educational Facilities Authority, Revenue:             
(Northwestern University) 5%, 12/1/2038    5,000,000        5,136,300 
(University of Chicago):             
5.125%, 7/1/2008 (Insured; MBIA)    5,000    b    5,267 
5.125%, 7/1/2038 (Insured; MBIA)    6,995,000        7,256,543 
 
Illinois Health Facilities Authority, Revenue:             
(Advocate Network Health Care) 6.125%, 11/15/2010    4,020,000    b    4,484,230 
(OSF Healthcare System) 6.25%, 11/15/2009    7,730,000    b    8,580,609 
(Swedish American Hospital) 6.875%, 5/15/2010    4,970,000    b    5,608,794 
 
Lombard Public Facilities Corp., Conference Center             
and First Tier Hotel Revenue 7.125% 1/1/2036    3,500,000        3,686,655 
 
Metropolitan Pier and Exposition Authority,             
Dedicated State Tax Revenue (McCormick             
Place Expansion) 5.25%, 6/15/2042 (Insured; MBIA)    5,325,000        5,599,291 
 
Indiana--2.3%             
 
Franklin Township Independent School Building Corp.,             
First Mortgage 6.125%, 7/15/2010    6,500,000    b    7,318,155 
 
Indiana Housing Finance Authority, SFMR 5.95%, 1/1/2029    1,070,000        1,094,974 
 
Petersburg, PCR (Indiana Power and Light)             
6.375%, 11/1/2029    4,150,000        4,430,830 
 
Kansas--4.6%             
 
Kansas Development Finance Authority, Revenue:             
(Board of Regents-Scientific Resource)             
5%, 10/1/2021 (Insured; AMBAC)    5,290,000        5,631,893 
Health Facility (Sisters of Charity) 6.25%, 12/1/2028    3,000,000        3,282,630 
 
Sedgwick and Shawnee Counties, SFMR             
(Mortgage Backed Securities Project)             
6.30%, 12/1/2032 (Collateralized: FNMA and GNMA)    5,945,000        6,154,264 
 
Wichita, HR (Christian Health System Inc.)             
6.25%, 11/15/2024    10,000,000        10,760,400 
 
Kentucky--.8%             

Kentucky Economic Development Finance Authority,             
MFHR (GNMA Collateralized-Christian             
Care Communities Projects):             
5.25%, 11/20/2025    2,370,000        2,553,130 
5.375%, 11/20/2035    1,805,000        1,947,270 
 
Louisiana--.8%             
 
Louisiana Public Facilities Authority,             
HR (Franciscan Missionaries of our Lady Health             
System Project) 5.25%, 8/15/2036    3,000,000    b    3,093,120 
 
Parish of Saint James, SWDR (Freeport-McMoRan Partnership             
Project) 7.70%, 10/1/2022    1,390,000        1,391,529 
 
Maine--.5%             
 
Maine Housing Authority, Mortgage Purchase 5.30%, 11/15/2023    2,825,000        2,947,209 
 
Maryland--1.6%             
 
Maryland Economic Development Corp., Student             
Housing Revenue (University of Maryland):             
6.50%, 6/1/2027    3,000,000        3,339,180 
5.75%, 10/1/2033    4,500,000        4,581,180 
 
Prince Georges County, Special Obligation             
(National Harbor Project)             
5.20%, 7/1/2034    1,000,000        1,001,110 
 
Massachusetts--2.5%             
 
Massachusetts Health and Educational Facilities Authority,             
Revenue:             
Civic Investments 9%, 12/15/2015    1,900,000        2,314,941 
(Partners Healthcare System) 5.75%, 7/1/2032    5,000,000        5,446,600 
 
Massachusetts Industrial Finance Agency, Revenue             
(Ogden Haverhill Project) 5.60%, 12/1/2019    6,000,000        6,145,560 
 
Michigan--5.1%             
 
Charyl Stockwell Academy, COP             
5.90%, 10/1/2035    2,580,000        2,610,470 
 
Kent Hospital Finance Authority, Revenue             
(Metropolitan Hospital Project) 6.25%, 7/1/2040    3,000,000        3,280,920 

Michigan Hospital Finance Authority, HR             
(Ascension Health Credit)             
6.125%, 11/15/2009    5,000,000    b    5,528,650 
 
Michigan Strategic Fund:             
RRR (Detroit Edison Co.)             
5.25%, 12/15/2032 (Insured; XLCA)    3,000,000        3,142,380 
SWDR (Genesee Power Station Project)             
7.50%, 1/1/2021    14,000,000        13,972,560 
 
Minnesota--3.5%             
 
Duluth Economic Development Authority, Health             
Care Facilities Revenue (Saint Luke's             
Hospital) 7.25%, 6/15/2032    5,000,000        5,380,650 
 
Saint Paul Housing and Redevelopment Authority,             
Hospital Facility Revenue (HealthEast Project):             
6%, 11/15/2025    2,000,000        2,171,300 
6%, 11/15/2030    2,000,000        2,163,160 
 
Saint Paul Port Authority, Hotel Facility Revenue             
(Radisson Kellogg Project) 7.375%, 8/1/2029    3,000,000        3,141,060 
 
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        1,552,035 
 
Winona, Health Care Facilities Revenue             
(Winona Health) 6%, 7/1/2026    5,000,000        5,348,250 
 
Mississippi--3.4%             
 
Claiborne County, PCR             
(System Energy Resources, Inc.) 6.20%, 2/1/2026    4,545,000        4,601,176 
 
Mississippi Business Finance Corp., PCR (System Energy         
Resources Inc. Project) 5.875%, 4/1/2022    14,310,000        14,547,546 
 
Missouri--2.5%             
 
Missouri Development Finance Board, Infrastructure             
Facilities Revenue (Branson):             
5.375%, 12/1/2027    2,000,000        2,080,680 
5.50%, 12/1/2032    4,500,000        4,698,225 

Missouri Health and Educational Facilities Authority,             
Health Facilities Revenue (Saint Anthony's             
Medical Center) 6.25%, 12/1/2010    6,750,000    b    7,612,110 
 
Montana--.3%             
 
Montana Board of Housing, SFMR             
6.45%, 6/1/2029    1,490,000        1,505,317 
 
Nevada--2.9%             
 
Clark County, IDR             
(Nevada Power Co. Project) 5.60%, 10/1/2030    3,000,000        2,999,730 
 
Washoe County (Reno-Sparks Convention Center)             
6.40%, 1/1/2010 (Insured; FSA)    12,000,000    b    13,329,480 
 
New Hampshire--2.6%             
 
New Hampshire Business Finance Authority, PCR             
(Public Service Co. of New Hampshire)             
6%, 5/1/2021 (Insured; AMBAC)    7,000,000        7,474,670 
 
New Hampshire Health and Educational Facilities Authority,         
Revenue (Exeter Project):             
6%, 10/1/2024    1,000,000        1,117,690 
5.75%, 10/1/2031    1,000,000        1,065,690 
 
New Hampshire Industrial Development Authority, PCR         
(Connecticut Light and Power) 5.90%, 11/1/2016    5,000,000        5,112,850 
 
New Jersey--4.8%             
 
New Jersey Economic Development Authority,             
Cigarette Tax Revenue 5.75%, 6/15/2034    2,500,000        2,634,150 
 
New Jersey Health Facilities Financing Authority, Revenue         
(Christian Health Care Center) 8.75%, 7/1/2006    12,745,000    b    13,309,349 
 
New Jersey Turnpike Authority, Turnpike Revenue             
5%, 1/1/2035 (Insured; AMBAC)    4,500,000        4,671,675 
 
Tobacco Settlement Financing Corp. of New Jersey             
7%, 6/1/2041    5,640,000        6,434,902 
 
New Mexico--1.2%             

Farmington, PCR             
(Tucson Electric Power Co., San Juan)             
6.95%, 10/1/2020    4,000,000        4,176,160 
 
New Mexico Mortgage Finance Authority, SFMR             
7%, 9/1/2031 (Collateralized: FHLMC, FNMA and GNMA)    2,365,000        2,378,268 
 
New York--8.4%             
 
Long Island Power Authority, Electric System Revenue             
5.889% 12/1/2016    10,000,000    c,d    10,995,300 
 
New York City Industrial Development Agency,             
Special Facility Revenue (American Airlines,             
Inc. John F. Kennedy International Airport Project)             
8%, 8/1/2028    2,800,000        2,959,880 
 
Tobacco Settlement Financing Corp. of New York:             
5.50%, 6/1/2020    16,000,000        17,500,160 
5.25%, 6/1/2021 (Insured; AMBAC)    5,000,000        5,376,050 
 
Triborough Bridge and Tunnel Authority, Revenue             
5.25%, 11/15/2030    5,220,000        5,553,401 
 
Westchester Tobacco Asset Securitization Corp.             
5.125%, 6/1/2038    5,000,000        4,831,200 
 
North Carolina--.6%             
 
Gaston County Industrial Facilities and Pollution Control             
Financing Authority, Exempt Facilities Revenue             
(National Gypsum Co. Project)             
5.75%, 8/1/2035    3,000,000        3,135,480 
 
North Dakota--.2%             
 
North Dakota Housing Finance Agency, Home Mortgage Revenue         
(Housing Finance Program) 6.15%, 7/1/2031    1,090,000        1,101,794 
 
Ohio--7.9%             
 
Canal Winchester Local School District:             
Zero Coupon, 12/1/2029 (Insured; MBIA)    3,955,000        1,283,714 
Zero Coupon, 12/1/2031 (Insured; MBIA)    3,955,000        1,161,663 
 
Cincinnati, Water System Revenue             
5%, 12/1/2021    3,800,000        3,998,512 

Cincinnati City School District             
(Classroom Facilities Construction and             
Improvement) 5%, 12/1/2031             
(Insured; FSA)    2,000,000        2,088,280 
 
Cleveland State University             
5%, 6/1/2034 (Insured; FGIC)    5,000,000        5,210,800 
 
Cuyahoga County, Revenue 6%, 1/1/2032    750,000        830,010 
 
Mahoning County, HR             
(Forum Health Obligation Group) 6%, 11/15/2032    7,000,000        7,410,900 
 
Ohio Air Quality Development Authority, PCR             
(Cleveland Electric Illuminating)             
6.10%, 8/1/2020 (Insured; ACA)    3,000,000        3,126,660 
 
Ohio Water Development Authority, Pollution Control             
Facilities Revenue (Cleveland Electric             
Illuminating) 6.10%, 8/1/2020 (Insured; ACA)    4,350,000        4,533,657 
 
Toledo Lucas County Port Authority, Airport Revenue             
(Baxter Global Project)             
6.25%, 11/1/2013    4,200,000        4,286,520 
 
Trotwood-Madison City School District,             
School Improvement 5%, 12/1/2030 (Insured; FGIC)    10,495,000        10,927,079 
 
Oklahoma--2.8%             
 
Oklahoma Housing Finance Agency, SFMR             
(Homeownership Loan Program):             
7.55%, 9/1/2027 (Collateralized: FNMA and GNMA)    1,455,000        1,511,469 
7.55%, 9/1/2028    1,270,000        1,278,458 
 
Oklahoma State Industries Authority,             
Health System Revenue:             
5.75%, 8/15/2009 (Insured; MBIA)    5,160,000    b    5,598,239 
5.75%, 8/15/2029 (Insured; MBIA)    7,070,000        7,581,656 
 
Oregon--3.1%             
 
Port of Portland, International Airport Revenue             
(Portland International Airport)             
5.50%, 7/1/2024 (Insured; AMBAC)    5,000,000        5,316,750 
 
Tigard - Tualatin School District No. 23J, GO             
(Washington and Clackamas Counties)             
5.375%, 6/15/2012 (Insured; MBIA)    3,000,000    b    3,303,840 

Western Generation Agency, Cogeneration Project Revenue             
(Wauna Cogeneration Project):             
7.40%, 1/1/2016    5,750,000        5,828,775 
7.125%, 1/1/2021    2,900,000        2,939,063 
 
Pennsylvania--2.5%             
 
Abington School District             
5.125%, 10/1/2034 (Insured; FSA)    4,085,000        4,313,147 
 
Pennsylvania Economic Development Financing Authority,             
Exempt Facilities Revenue             
(Reliant Energy Seward, LLC Project)             
6.75%, 12/1/2036    5,000,000        5,340,850 
 
York County Hospital Authority, Revenue             
(Health Center - Lutheran Social Services) 6.50%, 4/1/2022    4,250,000        4,289,185 
 
South Carolina--3.0%             
 
Greenville County School District , Installment Purchase Revenue         
(Building Equity Sooner for Tomorrow):             
5.50%, 12/1/2028    5,000        5,396 
7.22%, 12/1/2028    10,010,000    c,d    11,594,283 
 
Greenville Hospital System, Hospital Facilities Revenue             
5.50%, 5/1/2026 (Insured; AMBAC)    5,000,000        5,388,850 
 
Tennessee--4.1%             
 
Chattanooga Health and Educational Facilities Board,             
Revenue (CDFI Phase I LLC Project):             
5.125%, 10/1/2035    2,190,000        2,156,931 
6%, 10/1/2035    1,500,000        1,524,735 
 
Johnson City Health and Educational Facilities Board, HR:             
7.50%, 7/1/2025    5,000,000        5,927,950 
7.50%, 7/1/2033    3,000,000        3,529,740 
 
Memphis Center City Revenue Finance Corp., Tennessee Sports             
Facility Revenue (Memphis Redbirds) 6.50%, 9/1/2028    10,000,000        10,200,200 
 
Texas--10.1%             
 
Alliance Airport Authority Inc., Special Facilities Revenue             
(American Airlines Inc. Project)             
7.50%, 12/1/2029    3,500,000        3,026,835 

Austin Convention Enterprises Inc.,             
Convention Center Hotel Revenue             
6.70%, 1/1/2028    4,000,000        4,287,480 
 
Brazos River Authority, PCR             
(TXU Energy Co. LLC Project) 6.75%, 10/1/2038    1,650,000        1,835,229 
 
Dallas-Fort Worth International Airport Facilities             
Improvement Corp., Revenue:             
(American Airlines Inc.)             
6.375%, 5/1/2035    6,630,000        4,904,874 
(Bombardier Inc.) 6.15%, 1/1/2016    2,000,000        2,038,280 
 
Harris County Health Facilities Development Corp., HR             
(Memorial Hermann Hospital System Project)             
6.375%, 6/1/2011    8,500,000    b    9,678,950 
 
Sabine River Authority, PCR (TXU Electric Co. Project)             
6.45%, 6/1/2021    11,300,000        12,120,945 
 
Sam Rayburn Municipal Power Agency, Power Supply             
System Revenue 5.75%, 10/1/2021    6,000,000        6,574,680 
 
Texas Department of Housing and Community Affairs,             
Collateralized Home Mortgage Revenue 10.383%, 7/2/2024    1,550,000    c    1,595,694 
 
Texas Turnpike Authority, Central Texas Turnpike             
System Revenue 5.75%, 8/15/2038 (Insured; AMBAC)    7,100,000        7,820,863 
 
Tyler Health Facilities Development Corp., HR             
(East Texas Medical Center Regional Health Care             
System Project) 6.75%, 11/1/2025    3,000,000        3,001,560 
 
Utah--.7%             
 
Carbon County, SWDR (Sunnyside Cogeneration)             
7.10%, 8/15/2023    3,722,000        3,761,565 
 
Vermont--.2%             
 
Vermont Housing Finance Agency, Single Family Housing             
6.40%, 11/1/2030 (Insured; FSA)    1,335,000        1,345,974 
 
Virginia--3.1%             
 
Greater Richmond Convention Center Authority, Hotel Tax             
Revenue (Convention Center Expansion Project)             
6.25%, 6/15/2010    10,500,000    b    11,771,655 

Pittsylvania County Industrial Development             
Authority, Exempt Facility Revenue 7.65%, 1/1/2010    1,000,000        1,071,280 
Tobacco Settlement Financing Corp. of Virginia,             
Tobacco Settlement Asset-Backed Bonds             
5.625%, 6/1/2037    4,750,000        4,794,697 
Washington--3.5%             
Energy Northwest, Wind Project Revenue 5.875%, 1/1/2007    3,000,000    b    3,161,280 
Public Utility District Number 1 of Pend Orielle County,             
Electric Revenue 6.375%, 1/1/2006    3,755,000    b    3,830,400 
Seattle, Water System Revenue             
6%, 7/1/2009 (Insured; FGIC)    10,000,000    b    10,952,800 
Snohomish County Housing Authority, Revenue             
(Whispering Pines Apartments Project)             
5.60%, 9/1/2025    1,675,000        1,671,884 
West Virginia--3.0%             
Braxton County, SWDR (Weyerhaeuser Co. Project)             
6.125%, 4/1/2026    14,000,000        14,458,500 
West Virginia Water Development Authority, Water             
Development Revenue 6.375%, 7/1/2039             
(Insured; AMBAC)    2,250,000        2,484,585 
Wisconsin--5.8%             
Badger Tobacco Asset Securitization Corp., Tobacco             
Settlement Revenue 7%, 6/1/2028    22,995,000        25,552,504 
Madison, IDR             
(Madison Gas and Electric Co.) 5.875%, 10/1/2034    2,390,000        2,565,713 
Wisconsin Health and Educational Facilities Authority,             
Revenue (Aurora Health Care Inc.)             
6.40%, 4/15/2033    4,000,000        4,399,040 
Wyoming--.8%             
Sweetwater County, SWDR (FMC Corp. Project)             
5.60%, 12/1/2035    4,500,000        4,564,395 
U.S. Related--1.5%             

Children's Trust Fund of Puerto Rico,             
Tobacco Settlement Asset-Backed Bonds             
Zero Coupon, 5/15/2055    20,000,000        672,800 
Guam Housing Corp., SFMR             
5.75%, 9/1/2031 (Collateralized; FHLMC)    965,000        1,080,057 
Puerto Rico Highway and Transportation Authority,             
Transportation Revenue             
6%, 7/1/2010    6,000,000    b    6,648,720 
Total Long-Term Municipal Investments             
(cost $783,663,477)            833,337,617 
Short-Term Municipal Investment--.4%             
New Jersey;             
New Jersey Educational Facilities Authority,             
Revenue (Princeton University) 3.15%             
(cost $2,100,000)    2,100,000    e    2,100,000 
Total Investments (cost $785,763,477)    148.1%        835,437,617 
Cash and Receivables (Net)    2.4%        13,457,962 
Preferred Stock, at redemption value    (50.5%)        (285,000,000) 
Net Assets applicable to Common Shareholders    100.0%        563,895,579 

Notes to Statements of Investments: 
 
a    Non-income producing security; interest payments in default. 
b    These securites 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    Inverse floater security--the interest rate is subject to change periodically. 
 
d    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 December 31, 
2005, these securities amounted to $22,589,583 or 4.0% of net assets applicable to common shareholders. 
e    Securities payable on demand. Variable interest rate--subject to periodic change. 
 
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. 

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.

-2-

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.

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.

    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) 

-3-