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The Addison Town Charter requires that Town staff prepare an Annual Comprehensive Financial Report (ACFR), which shows the status of the Town’s finances. The Charter also requires that the Town’s financial statements be audited annually by an independent external auditing firm. The results of the independent external audit are included in the Fiscal Year 2025 ACFR. On February 24, Forvis Mazars, an independent firm of licensed certified public accountants, shared with the Council that it issued an unmodified opinion, which means that the financial statements are presented, in all material respects, in accordance with applicable financial reporting framework. Simply stated, an unmodified opinion is a clean opinion.

You can watch the Council’s ACFR discussion here, read the presentation here, and review the ACFR here.

CFO Steven Glickman shared the Town’s financial performance through the first quarter of Fiscal Year (FY) 2026 (October 1, 2025 - December 31, 2025) with the City Council at its February 24 meeting. The Town of Addison’s financial policies require the publication of a financial report 60 days after the end of the fiscal quarter.

Key highlights for the first quarter include:

• General Fund revenue totaled $13.2 million, which is 25.2% of the fiscal year budget.
• General Fund expenditures totaled $13.2 million, which is 25.2% of the fiscal year budget.
• Sales tax collections totaled $4.5 million, which is 26.3% of the fiscal year budget.
• The Hotel Fund had revenue of $1.5 million, or 18.9% of the fiscal year budget, while Hotel Fund expenditures totaled $1.1 million, or 12.6% of the fiscal year budget.
• Major Special Events revenues totaled 9.2%, and expenses totaled 2.1% of the fiscal year budget.
• Airport Fund operating revenue totaled $2.1 million or 26.0%, and operating expenses totaled $1.3 million or 17.2% of the fiscal year budget.
• Utility Fund operating revenue totaled $4.5 million or 25.4%, and operating expenses totaled $4.1 million or 22.2% of the fiscal year budget.
• Stormwater Fund revenue totaled $0.8 million or 26.3%, and operating expenses totaled $0.3 million or 9.7% of the fiscal year budget.

The Quarterly Investment Report for the first quarter of FY2026 was also provided for information purposes. This report has been prepared in accordance with state law and the Town’s Financial Policies.

You can watch the Council’s Quarterly Report discussion here, read the presentation here, and review the Quarterly Investment Report here.

At its February 10 meeting, the Addison City Council approved a new Planned Development zoning district for Addison Junction, clearing the way for a major mixed-use project adjacent to Addison Circle Park. The rezoning covers roughly 15.5 acres at the southeast corner of Addison Road and Festival Way and the northeast and northwest corners of Quorum Drive and Arapaho Road.

Addison Junction is planned as a $240 million mixed-use district that will include office space, a hotel, restaurants, entertainment venues, and public and private open space. The broader project represents a public-private partnership, with approximately $40 million in Town infrastructure investment and more than $200 million in private development led by Dallas-based Quadrant Investment Properties.

You can watch the Council’s Addison Junction discussion here and read the presentation here.