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City of Somerville
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Massachusetts
County
Middlesex County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
For FY2024, City of Somerville reported a fund balance of $112.7M, reflecting a healthy financial position. The balance sheet reflects total assets of $169.5M against liabilities of $47.9M, representing a strong financial position with an assets-to-liabilities ratio of 3.54. Operating results were favorable, with revenues of $459.6M exceeding expenditures of $458.8M by $23.7M. The 5.2% operating margin reflects sound fiscal practices. All metrics are calculated using Total Governmental Funds data.