|
City of Gloucester
Loading map...
Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Massachusetts
County
Essex County
FY Period
FY 2024
MuniScore
Score not available
Sign up to see the full dashboard
Get the complete financial breakdown, MuniScore details, balance sheets, income statements, and more for City of Gloucester and 14,800+ other municipalities.
Sign up free — 7-day trial
View up to 10 municipality dashboards free during your trial.
No credit card required.
Already have an account?
Log inFinancial Summary
The FY2024 financial statements for City of Gloucester show a net position of $28.1M, with assets outpacing liabilities. The financial position includes $44.6M in total assets offset by $7.2M in liabilities, reflecting a solid financial foundation at a 6.16 ratio. Fiscal operations produced a positive result, with $145.0M in revenues against $137.8M in expenditures, leaving a surplus of $1.1M. The modest 0.7% margin suggests limited fiscal flexibility. All metrics are calculated using General Fund data.