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City of Cheboygan
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Michigan
County
Cheboygan County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
City of Cheboygan closed FY2024 with a net position of $1.6M, indicating a solid financial foundation. With $1.9M in assets and $136.4K in liabilities, the municipality shows excellent fiscal standing and an assets-to-liabilities ratio of 14.14. Expenditures of $3.1M exceeded revenues of $2.9M, resulting in a $323.1K deficit. A -11.1% margin points to structural budget challenges. All metrics are calculated using General Fund data.