Company: NMI
Filing Date: 2025-07-07
Form Type: N-CSRS
Source: 0001193125-25-155990
Chunk: 14

Company: NUVEEN MUNICIPAL INCOME FUND INC
Filing Date: 2025-07-07
Form: N-CSRS
Chunk 14
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 information in the form of the Fund’s portfolio composition, total returns, expense ratios and changes in net assets (i.e., changes in net assets resulting from operations, subscriptions and redemptions), which are used by the CODM to assess the segment’s performance versus the Fund’s comparative benchmarks and to make resource allocation decisions for the Fund’s single segment, is consistent with that presented within the Fund’s financial statements. Segment assets are reflected on the Statement of Assets and Liabilities as “total assets” and significant segment revenues and expenses are listed on the Statement of Operations. New Accounting Pronouncement: In December 2023, the FASB issued ASU No. 2023-09,Income Taxes (Topic 740) Improvements to Income tax disclosures (“ASU 2023-09”).The primary purpose of the amendments within ASU 2023-09is to enhance the transparency and decision usefulness of income tax disclosures primarily related to the rate reconciliation table and income taxes paid information. The amendments in ASU 2023-09are effective for annual periods beginning after December 15, 2024. Management is currently evaluating the implications of these changes on the financial statements. 3. Investment Valuation and Fair Value Measurements The Funds’ investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Adviser, subject to oversight of the Board. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

| Level | 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities. |

| Level | 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, 
 interest rates, credit spreads, etc.).                                                                               |

| Level | 3 – Prices are determined using significant unobservable