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City of Somerset
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Kentucky
County
Pulaski County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
For FY2024, City of Somerset reported a fund balance of $3.7M, reflecting a healthy financial position. The balance sheet reflects total assets of $13.4M against liabilities of $8.8M, representing a healthy financial position with an assets-to-liabilities ratio of 1.52. Operating results were favorable, with revenues of $15.6M exceeding expenditures of $22.8M by $1.6M. The 10.2% operating margin reflects strong fiscal management. All metrics are calculated using General Fund data.