News Story

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.