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City of Royal Oak, Michigan
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Michigan
County
Oakland County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
For FY2024, City of Royal Oak reported a fund balance of $12.5M, reflecting a healthy financial position. The balance sheet reflects total assets of $21.2M against liabilities of $6.5M, representing a strong financial position with an assets-to-liabilities ratio of 3.24. Operating results showed a shortfall, with expenditures of $21.8M exceeding revenues of $51.9M by $1.4M. The -2.6% margin warrants attention to revenue and spending trends. All metrics are calculated using General Fund data.