The Town of Addison's financial policies require the publication of a financial report 60 days subsequent to the end of the fiscal quarter. This report covers the financial performance through the first quarter for Fiscal Year 2023 (October 1, 2022 - December 31, 2022). Enclosed in the report is an executive dashboard that provides a high-level look at some of the key financial indicators along with more detailed exhibits that demonstrate the current financial positions for the various funds. The report includes information for the following funds: General, Hotel, Economic Development, Airport, Utility, and Stormwater funds.
Key highlights for the first quarter include:
- General Fund revenue totaled $11.4 million, which is 25.8 percent of the fiscal year budget.
- General Fund expenditures totaled $9.8 million, which is 22.3 percent of the fiscal year budget.
- Sales tax collections totaled $3.7 million, which is 25.5 percent of the fiscal year budget.
- The Hotel Fund had revenue of $1.4 million, an increase of $482 thousand from this time a year ago, and expenditures of $969 thousand.
- Performing Arts expenditures are at 60.1 percent due to the payment of the WaterTower Theatre grant.
- Special Events revenues totaled 10.0 percent and expenses totaled 1.1 percent of the fiscal year budget because of the timing of events.
- Airport Fund operating revenue totaled $1.8 million or 26.3 percent and operating expenditures totaled $918 thousand or 16.5 percent of the fiscal year budget.
- Utility Fund operating revenue totaled $4.0 million or 25.9 percent and expenditures totaled $3.4 million or 21.9 percent of the fiscal year budget.
- Stormwater Fund revenue and expenditures are in line with historical averages.
The Quarterly Investment Report for Quarter 1 of Fiscal Year 2023 is also being provided for information purposes. This report has been prepared in accordance with state law and the Town's Financial Policies.
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