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City of Andover
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Municipality & ACFR Details
Type
Unknown
State
Minnesota
County
Anoka County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Andover maintained a positive net position of $13.2M, demonstrating financial stability. Total assets of $14.2M compared to liabilities of $819.9K indicate robust financial health, yielding a coverage ratio of 17.38. The government achieved an operating surplus of $1.7M, as revenues of $15.5M outpaced spending of $14.0M. At 10.8%, the operating margin indicates robust revenue performance. All metrics are calculated using General Fund data.