Summaries Look at the City’s Fiscal Health
Two annual reports that city staff delivered to the Mayor and Council on Dec. 7 give the public a closer look at Rockville’s financial health during the most recently completed fiscal year.
For Fiscal Year 2020, which closed June 30, the city ended “with a healthy overall net position of $293.4 million,” City Manager Rob DiSpirito wrote in the city’s Popular Annual Financial Report (PAFR), a summary document highlighting the city’s finances. Net position is a useful indicator of a government’s financial health and represents total assets minus total liabilities.