News Story

CFO Steven Glickman shared the Town's financial performance through the fourth quarter of FY 2025 (July 1, 2025 - September 30, 2025) to the City Council at its November 18 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 fourth quarter include: 

• General Fund revenue totaled $52.6 million, which is 103.9% of the fiscal year budget.
• General Fund expenditures totaled $49.6 million, which is 98.0% of the fiscal year budget.
• Sales tax collections totaled $17.6 million, which is 106.7% of the fiscal year budget.
• The Hotel Fund had revenue of $6.8 million, or 91.4% of the fiscal year budget, while Hotel Fund expenditures totaled $7.4 million, or 97.9% of the fiscal year budget. 
• Special Events revenues totaled 85.7% and expenses totaled 115.0% of the fiscal year budget. 
• Airport Fund operating revenue (excluding reimbursable grant revenue) totaled $7.9 million or 105.7% and operating expenses totaled $6.7 million or 98.5% of the fiscal year budget.
• Utility Fund operating revenue totaled $17.1 million or 98.9% and operating expenses totaled $16.4 million or 93.6% of the fiscal year budget.
• Stormwater Fund revenue totaled $2.9 million or 103.6% and operating expenses totaled $2.5 million or 88.9% of the fiscal year budget.

The Quarterly Investment Report for the fourth quarter of FY 2025 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 here, read the presentation here, and review the Quarterly Investment Report here.