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City of Farmington Hills
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Municipality & ACFR Details
Type
Non-Profit Housing Organization
State
Michigan
County
—
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
The FY2024 financial statements for City of Farmington Hills show a net position of $62.2M, with assets outpacing liabilities. The financial position includes $81.9M in total assets offset by $19.7M in liabilities, reflecting a solid financial foundation at a 4.17 ratio. Fiscal operations produced a positive result, with $78.0M in revenues against $67.8M in expenditures, leaving a surplus of $5.3M. The 6.8% margin demonstrates balanced budget execution. All metrics are calculated using General Fund data.