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City of Springfield
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Massachusetts
County
Hampden County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Springfield maintained a positive fund balance of $221.0M, demonstrating financial stability. Total assets of $282.8M compared to liabilities of $46.7M indicate robust financial health, yielding a coverage ratio of 6.05. The government achieved an operating surplus of $19.4M, as revenues of $944.4M outpaced spending of $921.9M. At 2.1%, the margin reflects a balanced fiscal approach. All metrics are calculated using General Fund data.