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UNITED STATES
 SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 FORM 10-Q
 þ
    
    QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended July 28, 2007
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission
File Number 0- 1653
 GENESEE CORPORATION
  STATE OF NEW YORK
    
    16-0445920(State of Incorporation)
    
    (I.R.S. Employer Identification No.)600 Powers Bldg., 16 W. Main Street, Rochester, New York
    
    14614(Address of principal executive offices)
    
    (Zip Code)
 (585) 454-1250
 þ o
  o o þ
 o þ
  Class
    
    Shares OutstandingClass A Common Stock
    
    209,885Class B Common Stock
    
    1,464,201




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TABLE OF CONTENTS  Item 2. Managements Discussion and Analysis of Financial Condition and Results of OperationsItem 2. Managements Discussion and Analysis of Financial Condition and Results of Operations (continued)Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations (continued)Item 4. Controls and ProceduresPART II. OTHER INFORMATIONItem 6. Exhibits  See Exhibit Index at Page 11 of this reportSIGNATURESEXHIBIT INDEXEX-31.1EX-31.2EX-32    Table of Contents  GENESEE CORPORATION
 
 July 28,
    
    
    April 28,2007
    
    
    2007AssetsCash and cash equivalents
    
    $
    4,247
    
    
    $
    4,131Estimated net income tax receivable
    
    
    0
    
    
    
    52Other assets
    
    
    32
    
    
    
    108Total assets
    
    $
    4,279
    
    
    $
    4,291Liabilities and Net AssetsAccrued expenses and other liabilities
    
    $
    92
    
    
    $
    86Liquidating distribution payable
    
    
    4,151
    
    
    
    0Total liabilities
    
    
    4,243
    
    
    
    86Net assets in liquidation
    
    $
    36
    
    
    $
    4,205Number of common shares outstanding (Class A - 209,885; Class B - 1,464,201)
    
    
    1,674,086
    
    
    
    1,674,086Net assets in liquidation per outstanding share
    
    $
    0.02
    
    
    $
    2.51




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Page 3 of 14 GENESEE CORPORATION
 
 2007
    
    2006Net assets in liquidation at April 28, 2007 and April 29, 2006, respectively
    
    $
    4,205
    
    
    $
    3,088Interest income, net
    
    
    52
    
    
    
    33Changes in estimated liquidation values of assets and liabilities
    
    
    (70
    )
    
    
    15Liquidating distribution payable
    
    
    (4,151
    )
    
    
    0Net assets in liquidation at July 28, 2007 and July 29, 2006, respectively
    
    $
    36
    
    
    $
    3,136




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Page 4 of 14 GENESEE CORPORATION
 Notes to Financial Statements
 NOTE (A)
    
    Divestiture of the Corporations Operating Businesses and Other Assets
           NOTE (B)
    
    Liquidation Basis of Accounting




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Page 5 of 14 GENESEE CORPORATION
 Notes to Financial Statements
 NOTE (B)
    
    Liquidation Basis of Accounting (continued)
  General assumptions used and asset and liability values under the Liquidation
Basis of Accounting




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Page 6 of 14 GENESEE CORPORATION
 Notes to Financial Statements
 NOTE (B)
    
    Liquidation Basis of Accounting (continued)
     Three Months
    
    Three MonthsEnded
    
    EndedApril 28, 2007
    
    July 28, 2007
    
    July 28, 2007
    
    July 28, 2007Category
    
    Balance
    
    Expenditures
    
    Adjustments
    
    BalanceOffice expenses,
Including rent
    
    $
    2,000
    
    
    $
    (1,000
    )
    
    $
    1,000
    
    
    $
    2,000Insurance expense
    
    
    1,000
    
    
    
    (1,000
    )
    
    
    0
    
    
    
    0Professional fees
    
    
    74,000
    
    
    
    (61,000
    )
    
    
    75,000
    
    
    
    88,000Other
    
    
    9,000
    
    
    
    (1,000
    )
    
    
    (6,000
    )
    
    
    2,000Totals
    
    $
    86,000
    
    
    $
    (64,000
    )
    
    $
    70,000
    
    
    $
    92,000




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Page 7 of 14 GENESEE CORPORATION
 Notes to Financial Statements
 NOTE (C)
    
    Financial Statement Presentation
 Liquidation Basis Financial Statements
    NOTE (D)
    
    Class B Common Stock De-listing and Closing of Stock Books
  NOTE (E)
    
    Subsequent Event




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Page 8 of 14 GENESEE CORPORATION
 
 Item 2.
    
    Managements Discussion and Analysis of Financial Condition and Results of Operations
(continued)
 LIQUIDITY AND CAPITAL RESOURCES   JULY 28, 2007
  Amount
    
    
    AmountDate Paid
    
    Distributed
    
    
    Per ShareMarch 1, 2001
    
    $
    12,557,000
    
    
    $
    7.50November 1, 2001
    
    
    21,763,000
    
    
    
    13.00May 17, 2002
    
    
    8,370,000
    
    
    
    5.00August 26, 2002
    
    
    8,370,000
    
    
    
    5.00October 11, 2002
    
    
    5,023,000
    
    
    
    3.00March 17, 2003
    
    
    4,185,000
    
    
    
    2.50April 28, 2003
    
    
    2,511,000
    
    
    
    1.50June 18, 2004
    
    
    2,511,000
    
    
    
    1.50August 28, 2007
    
    
    4,151,000
    
    
    
    2.48Total
    
    $
    69,441,000
    
    
    $
    41.48




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Page 9 of 14 GENESEE CORPORATION




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Page 10 of 14 GENESEE CORPORATION
 
 Item 4.
    
    Controls and Procedures
   
  
 Item 6.
    
    Exhibits  See Exhibit Index at Page 11 of this report.
 
   GENESEE CORPORATIONDate:  September 6, 2007
    /s/ Steven M. MorseSteven M. MorsePresident, Treasurer, and Secretary




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Page 11 of 14  GENESEE CORPORATION
 
  ExhibitNumber
    
    Exhibit
    
    Page No.31.1
    
    Officer Certification as required by Section 302 of the Sarbanes-Oxley Act of 2002.
    
    
    1231.2
    
    Officer Certification as required by Section 302 of the Sarbanes-Oxley Act of 2002.
    
    
    1332
    
    Officers Certifications as required by Section 906 of the Sarbanes-Oxley Act of 2002.
    
    
    14