At the September 26 City Council meeting, Chief Financial Officer Steven Glickman presented Council with the second amendment to the Fiscal Year (FY) 2023 budget. Each year, Finance staff 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. The FY2023 budget was adopted by Council on September 12, 2022. This is the second amendment to the FY2023 Town of Addison annual budget.
The major General Fund items highlighted in the amendment totaled $741,000 but were offset by an equal increase in sales tax. These included transfers to the Facility Maintenance Fund, personnel costs in the General Services and Finance Departments, street maintenance, and replacement of a damaged bus shelter.
Additionally, the amendment authorized the City Manager to transfer unexpended appropriations and excess revenue from the FY2023 budget to the FY2024 Self-Funded Special Projects Fund. It also allocated funds from the prior year's Self-Funded Special Projects Fund encumbrances for several projects including new fire station bay door grill gates, Wheeler Bridge painting, and the Vitruvian Park Fitness Court.
A Utility Fund appropriation of $250,000 was approved to provide funding for higher than anticipated wholesale water purchases due to a hotter and dryer spring and summer than anticipated. These additional appropriations were offset by corresponding increased water sales revenue, resulting in a net impact to the Utility Fund of $0.