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Somerset County
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Municipality & ACFR Details
Type
County-General Purpose Government
State
Pennsylvania
County
Somerset County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
For FY2024, Somerset County reported a net position of $16.8M, reflecting assets exceeding liabilities. The balance sheet reflects total assets of $26.9M against liabilities of $10.1M, representing a strong financial position with an assets-to-liabilities ratio of 2.66. Operating results showed a shortfall, with expenditures of $43.2M exceeding revenues of $41.8M by $1.4M. The -3.3% margin warrants attention to revenue and spending trends. All metrics are calculated using General Fund data.