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City of Orem
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Utah
County
Utah County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
In FY2024, City of Orem maintained a positive fund balance of $47.6M, demonstrating financial stability. Total assets of $65.9M compared to liabilities of $11.2M indicate robust financial health, yielding a coverage ratio of 5.89. The government recorded an operating deficit of $12.2M, as spending of $119.2M outpaced revenues of $104.8M. At -11.6%, the operating margin requires corrective fiscal action. All metrics are calculated using Total Governmental Funds data.