Richardson Budget Officer Bob Clymire credited conservative council budgeting due to the pandemic and most funds having decreased operating expenditures.
The city’s general fund increased to $40.3 million after revenues finished at over $163 million, compared to a projection of just over $147 million for FY 2021-22. The largest of the city’s five operating funds, the general fund provides for a majority of basic services, including public safety and administration, Clymire said.
"It's not that we're saving the dollars; it's more how we're deploying it," City Manager Don Magner said.
As part of the general fund, property taxes finished slightly below expectations, while sales taxes and other revenue finished above the budget projections, Clymire said.
The hotel/motel fund increased revenues by $2.7 million to grow its budget to nearly $6.6 million during FY 2021-22. The budgeted revenue for the hotel/motel fund was set at nearly $4 million. The hotel/motel fund provides for the administration, operations and maintenance of the Charles W. Eisemann Center, the center's parking garage, the Richardson Convention and Visitors Bureau, and annual grants to local arts organizations.
The city’s water-sewer fund increased revenue in FY 2021-22 to over $96 million from an expected nearly $90 million. Meanwhile, expenditures decreased to $85 million after being originally budgeted at over $89 million. According to city officials, the water-sewer fund incorporates the city’s water and wastewater system,
The solid waste service fund increased revenues by $402,000 to over $16 million. The solid waste fund includes waste collection services, including recycling and bulky item collection.
Richardson’s golf fund, which help runs the administration, operations and maintenance of the Sherrill Park Golf Course, increased its total fund balance to $571,320 after an $85,000 increase in budgeted revenue to over $2.5 million.
The City Council plans to have further discussions of the Comprehensive Annual Financial Report at a later date.
