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City comptroller presents 2024 popular annual financial report; city reserves equal about 120 days of operations
Summary
Comptroller Jerry Atkins presented the City of Midland's 2024 Popular Annual Financial Report (PAFR), highlighting the city's $58 million general fund reserve (about 120 days of operations), a roughly $100 million net position increase from 2023 to 2024 (about 14%), and efforts to make financial documents more accessible to residents.
Comptroller Jerry Atkins told the Midland City Council on April 8 that the city's Popular Annual Financial Report (PAFR) is a concise, user-friendly summary of the larger annual Comprehensive Financial Report the city produces. Jerry Atkins, Comptroller, City of Midland, said the PAFR is meant to translate technical information for residents and to support the council's transparency goal.
Atkins said the city's general fund reserve totaled about $58,000,000 at the close of fiscal 2024, which he described as roughly 120 days of operating expenses. He also reported that the…
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