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City of Grand Rapids, Michigan
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Michigan
County
Kent County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Grand Rapids maintained a positive net position of $43.4M, demonstrating financial stability. Total assets of $193.8M compared to liabilities of $74.0M indicate robust financial health, yielding a coverage ratio of 2.62. The government achieved an operating surplus of $27.5M, as revenues of $192.1M outpaced spending of $164.6M. At 14.3%, the operating margin indicates robust revenue performance. All metrics are calculated using General Fund data.