Newfoundland and Labrador’s municipal finances show a slight improvement in 2024, with a revised gross operating balance of $364 million and a net operating balance of $74 million, up from $348 million and $59 million in 2023. Total revenue reached $1,029 million, driven by property taxes ($589 million), sales of goods and services ($238 million), and grants ($191 million). Expenses climbed to $955 million, largely due to employee compensation ($335 million) and use of goods and services ($256 million). Net worth fell to $3,114 million, reflecting a decrease in non‑financial assets and an increase in liabilities. The municipality’s debt securities liabilities stood at $852 million, unchanged from the previous year. These figures were preliminary and subject to further revisions. The data are presented in millions of dollars.
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