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City of Florence, Alabama
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Alabama
County
Lauderdale County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
The FY2024 financial statements for City of Florence show a net position of $26.6M, with assets outpacing liabilities. The financial position includes $37.8M in total assets offset by $11.2M in liabilities, reflecting a solid financial foundation at a 3.38 ratio. Fiscal operations produced a negative result, with $74.8M in expenditures against $86.9M in revenues, creating a deficit of $2.3M. The -2.6% margin indicates some pressure on fiscal balance. All metrics are calculated using General Fund data.