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City of Galax, Virginia
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Virginia
County
Galax city
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
For FY2024, City of Galax reported a net position of $19.7M, reflecting assets exceeding liabilities. The balance sheet reflects total assets of $22.9M against liabilities of $1.9M, representing a strong financial position with an assets-to-liabilities ratio of 12.03. Operating results were favorable, with revenues of $28.8M exceeding expenditures of $26.8M by $2.2M. The 7.6% operating margin reflects sound fiscal practices. All metrics are calculated using General Fund data.