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City of Newton
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
North Carolina
County
Catawba County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Newton maintained a positive fund balance of $20.9M, demonstrating financial stability. Total assets of $24.4M compared to liabilities of $3.3M indicate robust financial health, yielding a coverage ratio of 7.39. The government achieved an operating surplus of $7.2M, as revenues of $20.9M outpaced spending of $20.4M. At 34.6%, the operating margin indicates robust revenue performance. All metrics are calculated using General Fund data.