City of Mobile releases 2024 financial report for citizens
Jul 8th, 2025
Posted in: Press Release
- July 8, 2025 -
For Immediate Release
City of Mobile releases 2024 financial report for citizens
Mobile, Ala. — The City of Mobile has published its 2024 Popular Annual Financial Report (PAFR), offering residents a clear and easy-to-understand look at how their tax dollars are being managed.
Released annually, the PAFR outlines the city’s revenues, expenditures, liabilities, and assets, and details how they changed throughout the previous year. It is designed with charts and graphs that make it easy to digest what the city owns, what it owes, and where local tax dollars are being invested.
In Fiscal Year 2024, Public safety remained one of the city’s top priorities and its largest area of expenditure, with more than $134 million allocated to new equipment, training, and increased salaries for hundreds of first responders. The city also continued to make significant investments in local infrastructure through the Capital Improvement Program (CIP), allocating more than $28 million to projects across all seven council districts and putting another $23 million toward debt service.
“These routine investments have helped continue to rebuild and maintain city streets and sidewalks, as well as our parks, playgrounds, and other public facilities,” Mayor Sandy Stimpson said. “We also made substantial progress on several major projects last year, including the Greenway Trail, the expansion of South McGregor Avenue and Zeigler Boulevard, and transformational projects downtown like the Hall of Fame Walk and the construction of Mobile Arena.”
The city is required by law to present an Annual Comprehensive Financial Report (ACFR), which can be found along with other financial information at www.cityofmobile.org/business/financials/. The ACFR is a longer, more detailed report that the U.S. Securities and Exchange Commission requires cities and other public organizations to produce. It can be overwhelming for those who aren’t familiar with institutional budgets or finance.
That’s why, during Mayor Stimpson’s administration, the City of Mobile has also voluntarily released a PAFR each of the last seven years — giving Mobilians an additional tool to explore the city’s finances. For six straight years, Mobile’s PAFR has been recognized by the Government Finance Officers Association for its transparency, readability, and clean presentation.
“Our staff works very hard on these documents because our citizens have a right to know and understand how their tax dollars are being managed,” Mayor Sandy Stimpson said. “I am proud to report Mobile once again saw a strong financial year and continued positive trends in sales and property tax revenues. With the support of the City Council, we were able to continue investing those revenues into improvements to local infrastructure, economic opportunities, and public services.”
A copy of the 2024 PAFR is attached. It is also available at: https://miniurl.com/mob2024.