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City of Kannapolis, North Carolina
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
North Carolina
County
Rowan County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
City of Kannapolis closed FY2024 with a net position of $50.9M, indicating a solid financial foundation. With $72.5M in assets and $3.1M in liabilities, the municipality shows excellent fiscal standing and an assets-to-liabilities ratio of 23.26. Expenditures of $74.5M exceeded revenues of $72.9M, resulting in a $7.4M deficit. A -10.1% margin points to structural budget challenges. All metrics are calculated using General Fund data.