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City of Covington
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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
In FY2024, City of Covington maintained a positive net position of $23.4M, demonstrating financial stability. Total assets of $24.3M compared to liabilities of $781.1K indicate robust financial health, yielding a coverage ratio of 31.12. The government achieved an operating surplus of $63.9K, as revenues of $21.7M outpaced spending of $17.5M. At 0.3%, the margin reflects a balanced fiscal approach. All metrics are calculated using General Fund data.