HomeMy WebLinkAboutTown of Addison - Public Financial ReportPopular
Annual
FinancialReport
2021
Town of Addison, Texas
Fiscal Year ended September 30, 2021
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ADDISON
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Table of Contents
Message From The Chief Financial Officer 1
Addison Way 2
City Council 2
Role 2
Values 2
Pillars of Success 2
Addison Fast Facts 3
Town Overview 4
Live, Work, Play 5
City Services 5
Addison Athletic Club 5
Education 5
Special Events 6
Parks and Trails 7
Addison TreeHouse 7
2020-2021 Highlights 7
Addison Events Return 7
Resident Events Moved Outside 7
Midway Road Construction Gets Underway 8
DART Silver Line Construction 8
U.S. Customs Building and Airport Offices 8
Winter Storm Uri 8
Financial Highlights 9
Changes in Net Position 9
Total Net Position 10
Capital Assets 10
Long-Term Debt Obligations 11
Governmental Fund Balance 11
General Fund Budgetary Highlights 12
Message From The
Chief Financial Officer
Dear Citizens,
The Town of Addison is proud to present the Popular Annual Financial Report
(PAFR) for the Fiscal Year ended September 30, 2021. Throughout the duration
of the year, the Finance Department works on the budget, the audit, financial
reporting, financial policies, financial forecasting, and financial management with the purpose:
“To provide responsive and accurate technical staff support to the City Manager and all operating departments
and to plan, manage, and maintain the financial affairs of the City.”
The financial information contained within this report is taken from the financial statements that are a
part of the Town of Addison’s 2021 Annual Comprehensive Financial Report (ACFR), which is prepared in
accordance with the Generally Accepted Accounting Principles (GAAP) and is audited by an independent
firm of certified public accountants, BKD, LLP of Dallas, TX. The ACFR contains additional detailed and
extensive information, such as notes, statistical information, investments, and debt service obligations.
The purpose of the PAFR is to convey the information presented in the ACFR in a more easily comprehensible
format. The PAFR is intended to provide an overview of the Town’s audited financial position, local taxing
information, and economic climate. The PAFR represents another indication of the Town of Addison’s
commitment to financial transparency and accountability.
If you should have any questions or concerns, please do not hesitate to contact the Town of Addison Finance
Department at 972-450-7081, or by email at sglickman@addisontx.gov.
Thank you for your time,
Steven Glickman, CPA
Chief Financial Officer
5350 Belt Line Rd
Dallas, TX 7525
1
City Council
Role
The role of the Council is to develop a long-term
vision for the Town, to develop policies necessary
to achieve the vision, and to communicate with,
and seek input from, stakeholders. The Council
meets on the second and fourth Tuesday of every
month and the agenda is posted on the Town’s
website (www.addisontexas.net) three days prior.
Addison Way
The “Addison Way” is a philosophy that serves
as the cornerstone of Addison’s service delivery
model to our stakeholders. The heart of the
“Addison Way” is to:
• Be service-minded and kind.
• Exceed expectations.
• Be solution driven.
• Value employees as partners.
The staff searches out all options to try and
meet expectations during each customer service
interaction.
Values
The Council will at all times seek to enact policies
that will promote, and to personally exemplify, the
values of the Town of Addison. The Council values:
• Integrity
• Respectfulness
• Fun
• Innovation/Creativity
• Accountability
• Efficiency
• Kindness
• Openness
• Transparency
Pillars of Success
Like most cities, Addison is confronted with a
number of issues that demand time and attention of
elected officials and the Town’s management team.
In order to best apply Addison’s limited resources,
the City Council has established the following
strategic pillars to guide the organization’s efforts.
• Innovative in Entrepreneurship and Business
• Excellence in Asset Management
• Excellence in Transportation Systems
• Gold Standard in Customer Service
• Gold Standard in Financial Health
• Gold Standard in Public Safety
• Optimize the Addison Brand
2
POPULA TION 1
ADD ISONFAST F A C T S2021
A S SES SED V A L U E
MEDIAN A G E 2
$
MEDIAN HOU SEHOLD
INC OME 3
NUMBER OF
SINGLE-F AMILY
RESIDENCES 4OWNER-O C C UPIED
HOU S I NG UNIT
R A T E 5
EDUCA T I ON LEV E L 8
(Persons with a Bachelor’s
Degree, Age 25 and above)
ADDISON TAX BASE
86% Business 14% Residents
2020 North Central Texas Council of Governments Estimate
2 2010-2018 American Community Survey, US Census
3 2018 American Community Survey, US Census
4 Dallas Central Appraisal District
5 2019 US Census Quick Facts6 NCTCOG 2014 Small Area Employment Estimate7 2018 US Census Quick Facts8 Census Quick Facts
Addison is one ofonly 12 Texas citieswith a AAA ratingfrom both
HAVING THE HIGHEST
POSSIBLE BOND
RATINGS ENSURES THE
LOWEST POSSIBLE
COST OF BORROWING.
1
3
Town Overview
The Town of Addison is located in an area once called Peters Colony. It was settled as early as 1846 when
Preston Witt built a house on White Rock Creek. The area was not known as Addison until 1902. Addison
was named after Addison Robertson, who served as the community’s second postmaster from 1908-1916.
In 1902, the first industry was introduced to Addison when a cotton gin was built on Addison Road, near the
railroad, by the Pistole brothers.
The City of Addison was incorporated on June 15, 1953, under an aldermanic form of government and was
changed to the “Town of Addison” in 1982. Addison’s first Mayor was M.W. Morris and the aldermen were
Guy Dennis, Robert W. Wood, J.E. Julian, Jr., Dr. H.T. Nesbit, and Seldon Knowles.
In 1975, an election to allow liquor by the drink served in town was a major contributor to the expansion
of businesses and restaurants. All combined, Addison’s restaurants and eating establishments can seat over
20,000 patrons at one time.
The area, which developed rapidly over the past five decades, is home to affluent neighborhoods, hundreds of
million-dollar companies, and scores of quality restaurants. Because of Addison’s overwhelming commercial
atmosphere, residents of Addison enjoy a unique lifestyle not common in other suburbs. Though Addison
has only 16,661 residents, the Town has developed into a cosmopolitan center which serves well over 125,000
business persons, shoppers, and visitors daily.
The area commands a central location in proximity to downtown Dallas, DFW International Airport, the
Richardson telecommunications corridor, and the Plano Legacy corporate campus area. Addison places
a special emphasis on quality of life that demands all development meet the most rigorous building
requirements. For example, all commercial development must submit landscaping plans to ensure
attractive green areas accompany buildings. The attention to aesthetics extends to all of Addison’s major
boulevards, which are also landscaped. This approach has made Addison a cosmopolitan “downtown
uptown” distinguished from almost any other urban area in the nation.
Addison’s reputation for maintaining a high quality of urban life has attracted considerable development over
the past few years. Addison is home to nearly 12 million square feet of quality office and warehouse space.
Addison also boasts 22 hotels with over 3,600 rooms and over 200 restaurants (an average of 46 restaurants
per square mile). Developments such as Addison Circle and Vitruvian Park have not only become a desired
location to live but a focal point for some of North Texas’ major events such as nationally recognized Addison
Kaboom Town!, Oktoberfest, and Taste Addison.
POPULATION1
ADDISONFAST FACTS2021
ASSESSED VALUE
MEDIAN AGE2
$
MEDIAN HOUSEHOLD
INCOME3
NUMBER OF
SINGLE-FAMILY
RESIDENCES4OWNER-OCCUPIED
HOUSING UNIT
RATE5
EDUCATION LEVEL8
(Persons with a Bachelor’s
Degree, Age 25 and above)
ADDISON TAX BASE
86% Business14% Residents
2020 North Central Texas Council of Governments Estimate
2 2010-2018 American Community Survey, US Census
3 2018 American Community Survey, US Census
4 Dallas Central Appraisal District
5 2019 US Census Quick Facts6 NCTCOG 2014 Small Area Employment Estimate7 2018 US Census Quick Facts8 Census Quick Facts
Addison is one ofonly 12 Texas citieswith a AAA ratingfrom both
HAVING THE HIGHEST
POSSIBLE BOND
RATINGS ENSURES THE
LOWEST POSSIBLE
COST OF BORROWING.
1
4
Live, Work, Play
City Services
Addison employs 299 full time and 8 part-time
employees, including 58 in the fire department
and 77 in the police department. The community
is served by two fire stations and participates in
a regional public dispatch collaboration with
Farmers Branch, Carrollton, and Coppell. Trash is
collected twice weekly (recycling once a week) and
bulk trash is collected upon request.
Addison Athletic Club
Touted as the favorite amenity in Town by many
residents and promoted as a selling feature by
local real estate agents, the Addison Athletic
Club provides not only state-of-the-art workout
facilities, but also serves as a community center
for many of Addison’s seniors. Since opening its
doors in 1987, the cost to join has remained the
same: a $10 one-time fee.
Education
Despite the community’s size, Addison is served by
two public school districts: Dallas ISD and Carrollton/
Farmers Branch ISD. Where you reside within the
community determines your school district.
The only public school actually located within
Addison’s borders is George H. W. Bush
Elementary School, which opened its doors in
2012. The school, part of the Dallas Independent
School District, serves students from Kindergarten
through 5th grade. While Bush Elementary is
making headlines, Addison residents have long
been proud to be home to a pair of North Texas’
finest private schools: Greenhill School and Trinity
Christian Academy.
5
SATURDAYSSATURDAYSTHIRDTHIRDFREE ADMISSION | ADDISON CIRCLE PARK | 7-11PM
202235th ANNUAL
Special Events
Addison hosts a number of special events
throughout the year that appeal to residents and
tourists alike. Mark your calendar for these not-to-
be-missed Addison festivals:
• Addison After Dark –
Third Saturdays: April – September
(www.AddisonAfterDark.com)
Enjoy free events at Addison Circle Park
starting at 7pm on the third Saturday of
the month, April through November. Each
month focuses on a different theme, offering
a variety of activities, live music, food trucks,
and unique experiences
• Taste Addison – June 3-4
(www.TasteAddisonTexas.com)
North Texas’ favorite food and music festival
returns June 3-4, 2022. Enjoy tasty bites from
Addison’s best restaurants and catch tunes
from musical acts including Emerald City and
Stone Temple Pilots, among others.
• Addison Kaboom Town! – July 3
(www.AddisonKaboomTown.com)
This dazzling, nationally ranked fireworks
show takes to the skies over Addison on July 3.
You can catch the Addison Airport airshow and
the fireworks extravaganza (choreographed
to music and simulcast on STAR 102.1) from
almost anywhere in Addison.
• Addison Oktoberfest – September 15-18
(www.AddisonOktoberfest.com)
The third weekend of September, experience
Addison Oktoberfest, an authentic German
Oktoberfest designed for Texans. Starting at the
same time as the celebrated Munich festival,
Addison Oktoberfest will take place from
September 15-18, 2022 and will feature four
days of the German food, music and dancing.
6
Parks and Trails
With 113 acres of lush green space, abundant
recreation opportunities, and miles of walking
trails, Addison’s Parks and Recreation facilities are
the perfect way to get out and play. Whether you
are looking for a wide open park like Addison Circle
or a quiet neighborhood spot like Celestial Park,
Addison has just what you need to enjoy the great
outdoors. Find a map of trails, parks and public
art on the Town’s website (www.addisontexas.net).
Addison TreeHouse
Addison is home to more than 1,200 businesses
that bring approximately 100,000 people into
Addison every day. While headquarters such as
Bottle Rocket and Mary Kay have a large North
Dallas Tollway presence, Addison is also home
to an entrepreneurial ecosystem that has earned
Addison a reputation as one of the top places in
Texas to start a business. The hub of entrepreneurial
spirit is the Addison TreeHouse. The TreeHouse,
which is a partnership between the Town of
Addison, the Dallas Entrepreneur Center (DEC),
and the North Texas Small Business Development
Center, is a coworking space created to help
entrepreneurs start, build, and grow companies
through education, mentorship, and community.
2020 – 2021 Highlights
Addison Events Return
Addison is known as the place to gather and
celebrate with great music, food, and fun. Its
legendary special events attract tens of thousands
of people to North Texas with talented musical
guests, memorable visual displays, dancing and
more. In 2020, Addison pivoted due to COVID-19
and either held events virtually, transformed them
into “drive-ins” or canceled them. Taste Addison,
Addison Kaboom Town!, Addison Oktoberfest,
and Addison After Dark returned in 2021 with
enhanced safety protocols, limited capacity, and
socially distance seating.
Resident Events Moved Outside
Resident events evolved during the year as
COVID-19 guidance changed. The Annual
Halloween Spooktacular and Senior Thanksgiving
Dinner were turned into a drive through events
for the community’s youngest and young-at-heart
residents. Since the Addison Conference Centre
was closed in Spring 2020, the much-anticipated
Resident Holiday Brunch was moved outside
to Addison Circle Park. Santa greeted children
virtually directly from the North Pole and roaming
carolers entertained residents of all ages.
7
Midway Road Construction Begins
In December 2020, the City Council approved
a construction contract for the revitalization of
Midway Road from Spring Valley Road to Keller
Springs Road. In addition to replacing the road,
and medians, the plan includes replacing all of
the utilities that run under the street and adding
a 10-foot wide path from Spring Valley to the
new trail that will run along the DART Silver
Line. Construction began at the intersection of
Belt Line and Midway Roads in March 2021 and
moved south to Spring Valley. The total project
is anticipated to take approximately three years
to complete. More information is available at
www.addisontexas.net/midway.
DART Silver Line Construction
In September 2019, DART celebrated the ground
breaking of the 26-mile Silver Line Regional Rail
Project that will run from Plano, through Addison,
to DFW Airport. In February 2021, construction
began on the Addison Silver Line rail station at
Arapaho Road and Quorum Drive. A committee of
residents served on an Art and Design Committee
to provide input on the Addison station regarding
architectural elements such as paving and column
cladding, site elements, landscaping, and site-
specific artwork.
U.S. Customs Building and Airport Offices
Addison Airport held an official groundbreaking
ceremony on Tuesday, October 15, 2019 for a new,
state-of-the-art U.S. Customs building that would
house the airport offices on the second floor.
Originally scheduled to be complete in early 2021,
the project was met with delays due to COVID-19
and supply chain issues. While the Airport staff was
able to relocate to their offices in the new building
in May 2021, the U.S. Customs operations were
pushed until 2022.
Winter Storm Uri
In February 2021, Texas came to a standstill when
Winter Storm Uri made its way across the country.
Some residents and businesses in Addison were
left without power for days. Addison employees
and residents rallied together to take care of those
who needed assistance. Town staff worked around
the clock to staff a warming center opened at
the Addison Athletic Club, address broken pipes
caused by freezing temperatures, sand streets, and
respond to emergency calls. Residents opened their
homes to those without power and checked in on
elderly neighbors. Never was it more apparent how
strong the Addison community is when residents
and staff work together.
8
Financial Highlights
The Town, like other state and local governments,
utilizes fund accounting to ensure and
demonstrate compliance with finance-related
legal requirements. A fund is a grouping of
related accounts that is used to maintain control
over resources that have been segregated for
specific activities or objectives. The Town of
Addison currently maintains sixteen individual
funds, including four major funds: the General
Fund, General Obligation Debt Service Fund,
Capital Projects Fund, and the Hotel Fund.
More information can be found in the Annual
Comprehensive Financial Report (ACFR) on the
Town’s website at www.addisontexas.net.
Changes in Net Position
The Statement of Net Position presents information
on all the Town’s assets, liabilities, and deferred
inflows/outflows with the difference reported as
net position. Over time, increases or decreases
in net position may serve as a useful indicator
of whether the financial position of the Town is
improving or deteriorating. In total, the Town’s
total net position increased $6,761,048. Revenue
increased $5,495,760 from fiscal year 2020 and can
be attributed to increases in Charges for Services
($1,570,368), Sales Tax ($1,077,349), Property
Taxes ($2,954,920), and Operating Grants and
Contributions ($2,200,494). These increases in
revenue resulted from economic recovery from
the Coronavirus pandemic. The increases were
partially offset by decreases in Hotel/Motel Tax
($530,116), Other ($531,179), and Capital Grants
and Contributions ($1,008,647), respectively.
Expenses decreased $1,403,038 from fiscal year
2020 and can be attributed to decreases in expenses
associated with Parks and Recreation ($108,427),
General Government ($941,060), Public Safety
($101,890), Streets ($707,622), Airport ($658,215),
Stormwater ($296,410), and Interest on Long-
Term Debt ($146,539), offset by increases in
Visitor Services $700,710, Development Services
$116,860, and Utilities $739,555, respectively.
Fiscal Year 2021 Revenue
Grants & Contributions
4%
Charges for Service
32%
Sales Tax20%
Other Taxes
2%
Property Taxes
37%
Hotel/Motel Tax3%Other 2%
30,000,000
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
0 Charges forServices Hotel/MotelTax Other Sales Tax Other Taxes Property Taxes Grants &Contributions
Revenues (Last three years)
2021 2020 2019
9
Total Net Position
The assets and deferred outflows of resources
of the Town exceeded its liabilities and deferred
inflows of resources by $258,333,974, which
is the Town’s net position. The increase from
the previous year’s net position of $251,572,926
indicates the financial position of the Town has
improved. The largest portion of the Town’s net
position, $187,010,206 or 72.40%, is in capital
assets (land, buildings, infrastructure, equipment,
and construction in progress), less any related debt
used to acquire those assets that is still outstanding.
The Town uses these assets to provide services
to its citizens; consequently, these assets are not
available for future spending. Although the Town
reports its capital assets net of related debt, the
resources needed to repay this debt must be
provided from other sources since the capital
assets themselves cannot be used to liquidate these
liabilities. A portion of the Town’s net position is
restricted resources of $4,118,234 or 1.59%, which
are subject to external restrictions on how they may
be used. The remaining balance of unrestricted
net position, $67,205,534 or 26.01%, may be used
to meet the government’s ongoing obligations to
citizens and creditors.
Capital Assets
The Town’s governmental and business-
type activities capital assets at the end of
fiscal year 2021 amount to $267,108,329 (net
of accumulated depreciation). Capital assets
include land, intangible assets, construction in
progress, buildings, improvements other than
buildings, and machinery and equipment. The
total increase in the Town’s capital assets for the
current year was 0.81%.
Net Position by Classification (last three years)
Fiscal Year 2021 Expenses
Restricted Unrestricted Investment in Capital Assets
General Government12%
Public Safety
27%Visitor Services
7%
Interest on Long-Term Debt 3%
Utilities18%
Stormwater1%
Airport
8%
Parks and
Recreation
9%
Streets
10%
Development
Services
5%
2021
2020
2019
0 50,000,000 100,000,000 150,000,000 200,000,000
2019 2020 2021
Restricted 4,145,772 4,013,467 4,118,234
Unrestricted 58,618,343 57,058,073 67,205,534
Investment in Capital Assets 188,946,561 190,501,386 187,010,206
0
20,000,000
40,000,000
60,000,000
80,000,000
100,000,000
120,000,000
140,000,000
Land Intangible Assets Construction in Buildings Improvements Machinery and
140,000,000
30.0%
50.0%
35.0%
40.0%
45.0%120,000,000
25.0%
100,000,000
20.0%
80,000,000
15.0%
60,000,000
10.0%
40,000,000
5.0.0%20,000,000
0.0%0
Capital Assets- Amount and Percentage by Type
Improvementsother than BuildingsBuildings
Amount Percentage
Construction in ProgressIntangible AssetsLand Machinery and Equipment
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
0
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2021 2020 2019
Expenses (Last three years)
10
Major capital asset events during fiscal year 2021
included the following:
Governmental-type
Midway Road Reconstruction $ 3,683,286
License Plate Recognition System $ 1,054,908
Completion of Belt Line
Beautification Project $ 2,217,832
Completion of Advanced
Traffic Management System $ 599,059
Business-type
Airport Customs Facility Construction $ 1,788,571
Celestial Ground Storage Tank Rehab $ 1,280,913
Completion of Basin I
Sanitary Sewer Reroute Project $ 2,270,809
Completion of Oaks North
Drive Drainage Project $ 610,299
Long-Term Debt Obligations
The Town’s primary government had total
outstanding bonded debt at September 30, 2021
of $133,843,808. Of this total, $102,564,412 was
associated with governmental activities and
$31,279,396 was associated with business-type
activities. The total gross bonded debt includes
$82,325,000 of General Obligation (G.O.) bonds
backed by the full faith and credit of the Town;
$44,860,000 of Certificate of Obligation bonds
backed by the full faith and credit of the Town; and
$6,658,808 in net premiums and discounts from
bond issuances.
During fiscal year 2021, the Town issued $14,850,000
of General Obligation Bonds and $10,960,000 of
General Obligation Refunding Bonds.
Governmental Fund Balance
The focus of the Town’s governmental funds is
to provide information on near-term inflows,
outflows, and balances of spendable resources.
Such information is useful in assessing the
Town’s financing requirements. In particular, the
unassigned fund balance may serve as a useful
measure of a government’s net resources available
for spending at the end of the fiscal year. At the end
of fiscal year 2021, the Town’s governmental funds
reported a combined fund balance of $86,653,696,
an increase of $11,152,496, or 14.8%, which is due to
the cash proceeds from new bonds issued during
the fiscal year.
The General Fund is the chief operating fund
of the Town. As of the end of the current fiscal
year, the total unassigned fund balance was
$19,698,867. Current operating expenditures had
savings of $3,566,000, which allowed monies to
be transferred to the Capital Project Fund for
self-financing of capital projects. The total fund
balance increased from $20,134,439 at September
30, 2020, to $20,243,675 at September 30, 2021.
This slight increase is due to adjusting transfers
to the Capital Project Fund for planned one-time
projects to be less than operating savings.
The Hotel Fund balance of $2,710,600, all of which
is restricted for the promotion of tourism and the
hotel industry, represents a decrease from the
prior year of $438,659. This decrease was due to
the lingering economic effects of the Coronavirus
pandemic. The pandemic continued to hamper
the occupancy of hotels during the year, and hotel
tax is a main revenue source of this fund. However,
with conservative spending and planning, the
Debt Information by Type (Last two years)
Premiums & Discounts
Certificate of Obligation Bonds
General Obligation Bonds
0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000
(in Thousands)
2021 2020
11
Town was able to maintain a fund balance of at
least 25% per Town policy.
The Capital Project Fund provides information on
both bond and cash financed capital projects and had
an ending fund balance of $60,367,961 at September
30, 2021, an increase of $10,799,616. Revenues
and other financing sources totaled $21,573,802,
which included $304,229 in property tax revenue,
$427,427 grant received for reimbursement of Fire
Department expenditures, $44,800 tree mitigation
fees, $718,049 reimbursements for costs on joint
projects, $55,920 interest earnings, $16,202,595
proceeds from debt issued, $359,832 from sale
of land, and $3,460,950 from other funds to cash
finance projects. Total expenditures and other uses
of $10,774,186 consisted of $6,877,672 for various
street improvements and maintenance, $1,406,459
for traffic signs and management as well as license
plate readers, $1,131,045 for park, trail, and streetscape
improvements, and $340,630 for Proposition C
and D improvements from the 2019 bond election.
The remaining expenditures consisted of one-time
projects approved in the annual budget process.
The General Obligation Debt Service Fund had
an ending fund balance of $573,411, all of which
is restricted for the payment of debt, represents
an increase of $567,076 from the prior year. This
increase is mainly due to increasing the debt service
property tax rate to cover issuances coupled with
savings from the refunding during the fiscal year.
The fund balance of non-major governmental
funds increased by $115,227 primarily due to
continued reduction of spending in the Economic
Development fund in response to the Coronavirus
pandemic, reduction of overtime spent for
municipal court, and the accumulation of unspent
PEG fees, which are restricted for governmental
public education.
General Fund Budgetary Highlights
During April and August each year, all department
budgets are evaluated to determine whether they
are in line with the original budgets. Departments
that are anticipated to exceed the budget are revised
to meet year-end final estimates. Departments
that are under budget may be revised to allocate
budget to other departments that are over budget.
During the fiscal year ended September 30, 2021,
the City Council amended the budget for the
General Fund twice.
Budget adjustments made during fiscal year
2020-21 increased the original revenue budget by
$1,200,766 and increased the expenditure budget by
the same amount. The General Fund’s operational
fund balance reserve remained at 52%, which far
exceeds the Town’s financial policy to maintain a
30% reserve over next year’s budgeted expenditures.
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
-
Governmental Fund Balances (last three years)
General ObligationDebt Service FundCapital Project FundHotel FundGenerall Fund Other Governmental Funds
2019 2020 2021
12
Certificate of Achievement for Excellence in Financial Reporting
The Town has earned the Certificate of Achievement for Excellence
in Financial Reporting for the Annual Comprehensive Financial
Report (ACFR) from the Government Finance Officers Association
for the forty-fifth consecutive year. The Certificate of Achievement
is the highest form of recognition in governmental accounting
and financial reporting, and its attainment represents a significant
accomplishment by a government and its management. The ACFR is
compiled by the finance department and audited by an independent
firm of certified public accountants. The purpose of the ACFR is
to give a detailed overview of the Town’s financial status, including
various funds, investments, and debt service obligations.
Award for Achievement in Popular Annual Financial Reporting
The Town has earned the Award for Achievement in Popular Annual
Financial Reporting for the Popular Annual Financial Report (PAFR)
from the Government Finance Officers Association for the first
time. The PAFR is complied by both the marketing and finance
departments. The PAFR takes information from the ACFR and adds
other valuable information about the Town. It is designed to be easily
understandable to readers who have no background in public finance.
Distinguished Budget Presentation Award
The Town has earned the Distinguished Budget Presentation Award
from the Government Finance Officers Association for the thirty-
fourth consecutive year. It reflects the commitment of the Town’s
staff to meet the highest principles of governmental budgeting
and the award represents a significant achievement. The budget
presents the plan for accomplishing the Town’s goals and objectives
during the fiscal year. Preparation of this document requires a
comparison of the anticipated revenues with adopted programs
and priorities that are based on City Council’s priorities, service
demands, and prior year project commitments.
Transparency Stars
The Town has earned all five Transparency Stars from the Texas
Comptroller of Public Accounts. The Transparency Stars program
recognizes local governments for going above and beyond in
their transparency efforts. The program recognizes government
entities that open their books and provide clear and meaningful
financial information not only by posting financial documents,
but also through summaries, visualizations, downloadable data,
and other relevant information. The five Transparency Stars
include traditional finances, contracts and procurement, economic
development, public pensions, and debt obligations.
AWARD-WINNING REPORTING
IMPORTANT NUMBERS
Addison Town Hall: Addison Town Hall:
972.450.7000
Non-emergency Police Dispatch: Non-emergency Police Dispatch:
972.450.7156
Missed Trash:Missed Trash:
972.392.9300, Option 2
Collection days are Monday (for
trash and recycling) and Thursday
(trash only) beginning at 7am.
Bulk Trash Request: Bulk Trash Request:
972.450.2871 or
AddisonTexas.net/bulktrash
Athletic Club: Athletic Club:
972.450.7048
IMPORTANT WEBSITES
Town of Addison Town of Addison
AddisonTexas.net
Register for Emergency Alerts Register for Emergency Alerts
AddisonAlert.com
Register Your Security Alarm Register Your Security Alarm
AddisonAlarmRegistration.com
Restaurants, Events and More Restaurants, Events and More
VisitAddison.com
Register for Weekly Newsletter Register for Weekly Newsletter
AddisonTexas.net/newsletter
ADDISON’S PEG CHANNELS
ATT Subscribers: ATT Subscribers:
Channel 99
Spectrum subscribers: Spectrum subscribers:
Channel 16
SOCIAL MEDIA
Facebook and Twitter Facebook and Twitter
@townofaddison and
@visitaddison
InstagramInstagram
@visitaddison
AWARD-WINNINGAWARD-WINNING
REPORTINGREPORTING
®
P.O. Box 9010
Addison, TX 75001
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