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City of Socorro
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
New Mexico
County
—
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Socorro maintained a positive fund balance of $7.7M, demonstrating financial stability. Total assets of $9.0M compared to liabilities of $290.4K indicate robust financial health, yielding a coverage ratio of 30.84. The government achieved an operating surplus of $1.1M, as revenues of $15.5M outpaced spending of $14.0M. At 7.0%, the operating margin shows steady financial management. All metrics are calculated using Total Governmental Funds data.