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City of Grosse Pointe Farms, Michigan
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Municipality & ACFR Details
Type
Unknown
State
Michigan
County
Wayne County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Grosse Pointe Farms maintained a positive net position of $11.5M, demonstrating financial stability. Total assets of $12.4M compared to liabilities of $838.0K indicate robust financial health, yielding a coverage ratio of 14.76. The government achieved an operating surplus of $746.0K, as revenues of $23.8M outpaced spending of $23.0M. At 3.1%, the margin reflects a balanced fiscal approach. All metrics are calculated using Total Governmental Funds data.