The Fiscal Year (FY) 2023 budget was adopted by the Council on September 13, 2022. This is the second amendment to the FY2023 Town of Addison annual budget.
Each year, the Finance Department reviews the budget to determine which items should be recognized with formal budget amendments. When budget variances occur that are outside of the authority of the City Manager, these adjustments are presented to the Council in the form of a budget amendment.
Major items include:
General Fund
- Allocate $741,000, offset by an equal increase in Sales Tax, from the General Fund for the following:
- $400,000 in the General Services Department to transfer to the Facility Maintenance Fund ($250,000) and personnel costs ($150,000, offset by decreases in the personnel costs in the City Manager’s Office of $100,000 and the IT Department of $50,000.
- $50,000 in the Finance Department for personnel costs offset by decreases in personnel costs in the IT department of $50,000.
- $251,000 in the Streets Department for Street Maintenance ($115,000) and prior year encumbrances for Street Lighting ($136,000).
- $240,000 in the Parks Department for prior year encumbrances to replace a damaged bus shelter damaged by a motorist ($40,000) and water purchases due to the hot and dry summer ($200,000).
- Additionally, this budget amendment authorizes the City Manager to transfer unexpended appropriations and excess revenue from the Fiscal Year 2022-2023 budget to the Self-Funded Special Projects Fund. The amount of this transfer (if applicable) will be known in late November 2023 after the Town has recorded all revenues and expenditures for Fiscal Year 2022-2023. The Fiscal Year 2022-2023 estimate included in the Fiscal Year 2023-2024 budget included an estimated transfer amount of $1,900,000.
Capital Projects Fund
- An amendment is needed in the Capital Projects Fund to allocate $7,719,906 for prior year encumbrances from the 2013 Stormwater Certificates of Obligation, the 2012 General Obligation/Certificates of Obligation Fund, and the 2021 General Obligation Bond Fund.
Self-Funded Special Projects Fund
- An amendment is needed in the Self-Funded Projects Fund to allocate $694,500 for prior year encumbrances for Oncor transformer relocations at the Police Department ($130,000), Wheeler Bridge painting ($35,000), Vitruvian Park Fitness Court ($235,000), traffic signal design ($85,000), pavement condition assessment services ($82,500), fire station bay door grill gates ($87,000), and a forklift ($40,000).
Utility Fund
- An additional appropriation of $250,000 is needed in the Utility Fund to provide funding for higher than anticipated wholesale water purchases ($250,000) due to a hotter and dryer spring and summer than anticipated. These additional appropriations are offset by corresponding increased water sales revenue of $250,000 due to a hotter and dryer spring and summer than anticipated, resulting in a net impact on the Utility Fund of $0.
| Fund |
Impact on Budgeted Expenditures |
Impact on Budgeted Revenues |
Impact on Fund Balance |
| General Fund |
$741,000 |
$741,000 |
$0 |
| Capital Projects Fund |
$7,719,906 |
$0 |
($7,719,906) |
| Utility Fund |
$250,000 |
$250,000 |
$0 |
| Self-Funded Special Projects Fund |
$694,500 |
$0 |
($694,500) |
| Total |
$9,405,406 |
$991,000 |
($8,414,406) |
The attachments reflect the proposed budget changes by fund in the ordinance and budget amendment summary. |