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City of Hamlet
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Municipality & ACFR Details
Type
Unknown
State
North Carolina
County
Richmond County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Hamlet maintained a positive net position of $4.2M, demonstrating financial stability. Total assets of $4.8M compared to liabilities of $205.4K indicate robust financial health, yielding a coverage ratio of 23.27. The government recorded an operating deficit of $742.5K, as spending of $7.3M outpaced revenues of $6.6M. At -11.3%, the operating margin requires corrective fiscal action. All metrics are calculated using General Fund data.