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City of Martinsville, Virginia
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Virginia
County
Martinsville city
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Martinsville maintained a positive net position of $11.2M, demonstrating financial stability. Total assets of $22.5M compared to liabilities of $8.1M indicate robust financial health, yielding a coverage ratio of 2.77. The government achieved an operating surplus of $1.5M, as revenues of $42.0M outpaced spending of $41.4M. At 3.6%, the margin reflects a balanced fiscal approach. All metrics are calculated using General Fund data.