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City of Federal Way
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Municipality & ACFR Details
Type
Municipality-General Purpose Government
State
Washington
County
King County
FY Period
FY 2024
MuniScore
Score not available
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Log inFinancial Summary
City of Federal Way ended FY2024 with a net position of -$1.4M, showing liabilities surpassing assets. With $3.5M in assets and $4.9M in liabilities, the municipality shows financial constraints and an assets-to-liabilities ratio of 0.71. Expenditures of $67.2M exceeded revenues of $63.9M, resulting in a $3.2M deficit. A -5.1% margin points to structural budget challenges. All metrics are calculated using General Fund data.