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City of Portsmouth, Virginia
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Virginia
County
Portsmouth city
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
For FY2024, City of Portsmouth reported a fund balance of $125.8M, reflecting a healthy financial position. The balance sheet reflects total assets of $161.9M against liabilities of $8.6M, representing a strong financial position with an assets-to-liabilities ratio of 18.77. Operating results were favorable, with revenues of $311.8M exceeding expenditures of $248.6M by $63.1M. The 20.3% operating margin reflects strong fiscal management. All metrics are calculated using General Fund data.