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City of South Portland
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Maine
County
Cumberland County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of South Portland maintained a positive fund balance of $30.2M, demonstrating financial stability. Total assets of $47.8M compared to liabilities of $10.7M indicate robust financial health, yielding a coverage ratio of 4.46. The government recorded an operating deficit of $585.8K, as spending of $119.0M outpaced revenues of $119.7M. At -0.5%, the operating margin signals a need for fiscal monitoring. All metrics are calculated using General Fund data.