Richardson’s year-end financial report was presented to the City Council Monday by City Budget Office staff. The focus was on the performance of revenues and expenditures at the end of Fiscal Year 2023 (Oct. 31) compared against the original budget adopted in August 2022.
Revenues and expenditures across the City’s five major operating funds (General, Water and Sewer, Solid Waste Services, Golf and Hotel/Motel Tax) ended the year performing above expectations, with any fund revenue losses being offset by lower expenditures in the same fund, and any expense increases offset by an increase in revenue. As such, all funds had ending balances that exceeded year-end estimates.
Of note in the presentation, Dallas Area Rapid Transit is remitting around $14.4 million to Richardson to fund projects that support public transportation, including road reconstruction and rehabilitation projects.
Watch Monday’s presentation: Click here
