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City of Spencer
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
West Virginia
County
Roane County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
City of Spencer closed FY2024 with a fund balance of $552.9K, indicating a solid financial foundation. With $564.1K in assets and $11.2K in liabilities, the municipality shows excellent fiscal standing and an assets-to-liabilities ratio of 50.32. Expenditures of $1.5M exceeded revenues of $1.4M, resulting in a $110.6K deficit. A -7.7% margin points to structural budget challenges. All metrics are calculated using General Fund data.