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City of Elgin
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Municipality & ACFR Details
Type
Unclassified
State
Texas
County
—
FY Period
Oct 2022 - Sep 2023
MuniScore
Score not available
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Log inFinancial Summary
In FY2023, City of Elgin maintained a positive net position of $6.4M, demonstrating financial stability. Total assets of $8.1M compared to liabilities of $1.5M indicate robust financial health, yielding a coverage ratio of 5.38. The government achieved an operating surplus of $435.6K, as revenues of $11.8M outpaced spending of $12.7M. At 3.7%, the margin reflects a balanced fiscal approach. All metrics are calculated using General Fund data.