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Observations and musings on Jacksonville Politics

Council Auditor Releases City’s 2nd Quarter Financial Report

On May 15th, the Council Auditor released the City’s 2nd quarter financial report – and as you might expect, the news isn’t good.  The Council Auditor notes that many of the City’s subfunds presented in the report are financially challenged – with many of the same comments being repeated for several subfunds.  Overall, the Council Auditor is concerned with the negative cumulative effect these subfunds have on the City’s overall financial health.  Add to this a projected $15 million tax shortfall, and the City’s budget process, beginning with the Mayor’s budget presentation in July, could get very testy.

Read more about the Council Auditor’s 2nd quarter financial report after the break.

Read the rest of this entry »

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