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City of Petal, Mississippi
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Mississippi
County
Forrest County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Petal maintained a positive fund balance of $5.9M, demonstrating financial stability. Total assets of $11.8M compared to liabilities of $651.9K indicate robust financial health, yielding a coverage ratio of 18.16. The government recorded an operating deficit of $224.5K, as spending of $9.5M outpaced revenues of $11.3M. At -2.0%, the operating margin signals a need for fiscal monitoring. All metrics are calculated using General Fund data.