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City of Olean
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
New York
County
Cattaraugus County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Olean maintained a positive fund balance of $9.9M, demonstrating financial stability. Total assets of $12.1M compared to liabilities of $2.2M indicate robust financial health, yielding a coverage ratio of 5.54. The government recorded an operating deficit of $841.4K, as spending of $17.8M outpaced revenues of $18.2M. At -4.6%, the operating margin signals a need for fiscal monitoring. All metrics are calculated using General Fund data.