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City of South Miami, Florida
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Florida
County
Miami-Dade County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
The FY2024 financial statements for City of South Miami show a fund balance of $19.6M, reflecting sound fiscal management. The financial position includes $22.0M in total assets offset by $2.0M in liabilities, reflecting a solid financial foundation at a 11.16 ratio. Fiscal operations produced a negative result, with $22.2M in expenditures against $28.9M in revenues, creating a deficit of $2.1M. The -7.2% margin reflects substantial fiscal imbalance. All metrics are calculated using General Fund data.