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City of Salem
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Virginia
County
Salem city
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
For FY2024, City of Salem reported a fund balance of $65.2M, reflecting a healthy financial position. The balance sheet reflects total assets of $73.3M against liabilities of $4.0M, representing a strong financial position with an assets-to-liabilities ratio of 18.38. Operating results showed a shortfall, with expenditures of $90.7M exceeding revenues of $108.2M by $10.4M. The -9.6% margin indicates a significant revenue-expenditure gap. All metrics are calculated using General Fund data.