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City of Bessemer
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Municipality & ACFR Details
Type
Unknown
State
Michigan
County
Gogebic County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
For FY2024, City of Bessemer reported a net position of $735.2K, reflecting assets exceeding liabilities. The balance sheet reflects total assets of $1.3M against liabilities of $578.0K, representing a strong financial position with an assets-to-liabilities ratio of 2.27. Operating results showed a shortfall, with expenditures of $1.7M exceeding revenues of $1.6M by $57.8K. The -3.5% margin warrants attention to revenue and spending trends. All metrics are calculated using General Fund data.