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City of Lakeland
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Tennessee
County
Shelby County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
City of Lakeland closed FY2024 with a net position of $7.5M, indicating a solid financial foundation. With $14.8M in assets and $1.1M in liabilities, the municipality shows excellent fiscal standing and an assets-to-liabilities ratio of 13.49. Expenditures of $14.3M exceeded revenues of $12.7M, resulting in a $6.3M deficit. A -49.5% margin points to structural budget challenges. All metrics are calculated using General Fund data.