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City of Salem
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Massachusetts
County
Essex County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
For FY2024, City of Salem reported a fund balance of $39.0M, reflecting a healthy financial position. The balance sheet reflects total assets of $51.9M against liabilities of $9.6M, representing a strong financial position with an assets-to-liabilities ratio of 5.38. Operating results were favorable, with revenues of $254.0M exceeding expenditures of $241.8M by $13.1M. The 5.2% operating margin reflects sound fiscal practices. All metrics are calculated using Total Governmental Funds data.