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City of Solon
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Municipality & ACFR Details
Type
Unknown
State
Ohio
County
Cuyahoga County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Solon maintained a positive net position of $30.0M, demonstrating financial stability. Total assets of $40.9M compared to liabilities of $2.7M indicate robust financial health, yielding a coverage ratio of 15.37. The government recorded an operating deficit of $3.7M, as spending of $48.7M outpaced revenues of $51.3M. At -7.2%, the operating margin requires corrective fiscal action. All metrics are calculated using General Fund data.