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Addison council approves second FY2025 budget amendment to reallocate project funds
Summary
The council approved an ordinance amending the town’s FY2025 budget to reappropriate prior-year encumbrances and authorize transfers into a self-funded special projects fund and the economic development fund; staff estimated about $1.6 million in excess sales-tax revenue and a net budget change of roughly $3.76 million including encumbrances and prior-year expenditures.
The Addison Town Council on Sept. 23 approved an ordinance amending the fiscal year 2025 budget to reallocate prior-year encumbrances, record grant revenue and authorize transfers among funds.
Chief Financial Officer Steven Glickman told the council the amendment authorizes the city manager to transfer up to 75% of excess revenues to the self-funded special projects fund and allows 25% of that amount to move to the economic development fund. Glickman said the town estimates about $1.6 million in excess sales-tax revenue this year (an illustrative split of $1.2 million to self-funded projects and $400,000 to economic development) and detailed prior-year encumbrances and capital project expenditures that require re-appropriation.
The amendment also includes reimbursements and a $50,000 grant from Metrocrest Hospital Authority for life‑pack purchases, prior encumbrances for traffic-signal and ADA projects, and self-funded projects such as tree mitigation and facility repairs. Glickman summarized an overall impact to expenditures of about $3,812,136 offset by $50,000 in grant revenue for a net amount of roughly $3,762,000.
Council asked clarifying questions about insurance reimbursements for light-pole and bollard replacements and whether some athletic-club repairs were related to earlier renovations; staff said the athletic-club repairs were separate and that the insurance proceeds were recorded in the general fund and the appropriation will allow the town to pay the bills.
Why it matters: the amendment keeps the town’s books aligned with current expenditures, ensures funds are available to complete projects and lets staff allocate year‑end excesses into planned initiatives.
What’s next: staff will implement re-appropriations and report back as projects progress.
