|
City of Covington
Loading map...
Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Virginia
County
Covington city
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 Covington 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
In FY2024, City of Covington recorded a net position of -$920.7K, reflecting accumulated obligations. Total assets of $21.1M compared to liabilities of $920.7K indicate robust financial health, yielding a coverage ratio of 22.91. The government achieved an operating surplus of $2.5M, as revenues of $23.3M outpaced spending of $24.5M. At 10.7%, the operating margin indicates robust revenue performance. All metrics are calculated using General Fund data.