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City of Richfield
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Minnesota
County
Hennepin County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
For FY2024, City of Richfield reported a fund balance of $12.0M, reflecting a healthy financial position. The balance sheet reflects total assets of $13.8M against liabilities of $1.7M, representing a strong financial position with an assets-to-liabilities ratio of 8.21. Operating results were favorable, with revenues of $31.0M exceeding expenditures of $30.7M by $541.8K. The 1.7% operating margin shows revenues aligned with expenditures. All metrics are calculated using General Fund data.