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City of Panama City
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Florida
County
Bay County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Panama City maintained a positive fund balance of $12.4M, demonstrating financial stability. Total assets of $18.7M compared to liabilities of $4.7M indicate robust financial health, yielding a coverage ratio of 3.95. The government recorded an operating deficit of $10.5M, as spending of $64.2M outpaced revenues of $61.0M. At -17.2%, the operating margin requires corrective fiscal action. All metrics are calculated using General Fund data.