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City of Cortland
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Municipality & ACFR Details
Type
City/Town Government
State
New York
County
Cortland County
FY Period
Jan 2023 - Dec 2023
MuniScore
Score not available
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Log inFinancial Summary
In FY2023, City of Cortland maintained a positive net position of $3.0M, demonstrating financial stability. Total assets of $11.2M compared to liabilities of $7.6M indicate balanced fiscal standing, yielding a coverage ratio of 1.48. The government recorded an operating deficit of $1.5M, as spending of $27.6M outpaced revenues of $24.4M. At -6.1%, the operating margin requires corrective fiscal action. All metrics are calculated using General Fund data.