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City of Lapeer
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Michigan
County
Lapeer County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
The FY2024 financial statements for City of Lapeer show a net position of $5.2M, with assets outpacing liabilities. The financial position includes $8.2M in total assets offset by $999.6K in liabilities, reflecting a solid financial foundation at a 8.20 ratio. Fiscal operations produced a negative result, with $9.8M in expenditures against $11.9M in revenues, creating a deficit of $347.9K. The -2.9% margin indicates some pressure on fiscal balance. All metrics are calculated using General Fund data.