FOLEY – Foley’s latest breakdown of city financial information is now available online and in some municipal offices.

The new edition of the Popular Annual Financial Report updates information through the fiscal year that ended in September, 2024. The report is a user-friendly summary of Foley’s Annual Comprehensive Financial Report.

The PAFR includes information on the city’s revenue and spending in the last year.

The total revenue into the Governmental Account was about $85 million. That total was an increase from the income in 2023.

The city received the largest portion of its income from sales taxes. Foley brought in $40.25 million in sales and use taxes, 53.4% of the city’s total revenue.

The largest expense in the 2024 fiscal year was for capital projects. The city invested $25 million in projects, including road improvements, improvements to parks and recreation facilities and land purchases. The second greatest expense that year was $18 million for public safety.

The report also includes general information on Foley and its changes in recent years.

Foley’s median family income increased almost 38% between 2020 and 2023, from $40,614 to $60,090. In that period, the community’s unemployment rate dropped from 5.6% to 2.9%.

The city maintains 164 miles of streets and 40 miles of sidewalks. The city also maintains 3,104 street lights.

In the last fiscal year, the Foley Police Department received 24,634 calls for service. The The Foley Public Library circulated 335,140 items to 126,634 patrons.

A copy of the PAFR is available online at https://cityoffoley.org/finance/.

Several recent Foley financial reports have received the Government Finance Officers Association’s Award for Outstanding Achievement in Popular Annual Financial Reporting, known as the PAFR Award. Foley has received the PAFR Award for five years in a row.

The current report will also be submitted to the GFOA for consideration.

The GFOA also presents two other financial awards, for audits and for the budget. 

Foley has also received the GFOA’s Certificate of Achievement for Excellence in Financial Reporting for its annual comprehensive financial report for 11 consecutive years. The city also received the GFOA Distinguished Budget Presentation Award for six years.

Foley is one of the few cities to receive all three awards in the same year. The city received all three awards, an accomplishment known as “the triple crown,” for five consecutive years.