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City of Lowell
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Municipality & ACFR Details
Type
Unknown
State
Michigan
County
Kent County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Lowell maintained a positive net position of $1.6M, demonstrating financial stability. Total assets of $1.8M compared to liabilities of $155.7K indicate robust financial health, yielding a coverage ratio of 11.31. The government achieved an operating surplus of $166.2K, as revenues of $3.8M outpaced spending of $3.1M. At 4.4%, the margin reflects a balanced fiscal approach. All metrics are calculated using General Fund data.