CHERYL L. BROWN                                                                                                            117 WEST DUVAL STREET, SUITE 425

            DIRECTOR                                                                                                                                                                                      4TH FLOOR, CITY HALL

   OFFICE (904) 630-1452                                                                                                                                                                       JACKSONVILLE, FLORIDA  32202

     FAX (904) 630-2906                                                                                                                                                                                                               


June 3, 2010

5:00 p.m.



May 20, 2010



Location:  City Council Chamber, 1st floor, City Hall – St. James Building; 117 West Duval Street


In attendance:  Council Members Bishop, Brown, Clark, Corrigan, Crescimbeni, Davis, Gaffney, Graham, Holt, Johnson, Jones. Joost, Lee, Redman, Shad, Webb and Yarborough

Excused: Council Members Fussell and Hyde


Meeting Convened:  11:38 a.m.


Chief Financial Officer Mickey Miller presented the mid-year budget review document, mandated by ordinance to this year be presented to the full council rather than to just the Finance Committee as in previous years.  The following major points were presented:


  • There has been an increase in property tax revenues over budget by approximately $7 million due to a slight increase in the Property Appraiser’s final reported taxable value base in the final October 2009 report over the July number used to develop the budget.
  • State shared revenues (sales tax, city and county revenue sharing) are projected to be down $10 million from the budget, and utility service taxes are down $4.3 million from budget.
  • The current projections show a $12.5 million shortfall in the overall General Fund budget at mid-year.
  • The gap will be filled in several ways.  One is a $4.9 million positive balance in the risk management (self insurance) fund based on the audit of last year’s performance in that fund.  Another is $2 million in departmental cuts to be identified before the end of the fiscal year.  The third is use of $5-6 million of fund balance reserves.
  • The $2 million in departmental cuts is in addition to the existing normal and extraordinary lapse factors already included in the budget.
  • The City’s 2 major reserve funds (operating and emergency) total approximately $84-85 million; the $5-6 million being considered for transfer from the operating reserve would leave approximately $32 million in that fund.
  • The choice of whether or not to do an actuarial study on the employee pension funds this year does not have any impact on the FY09-10 budget.
  • The Trail Ridge Landfill settlement agreement will have only a small impact, if any, on the current year budget because of the timing of the transition process to the new contract; the full effects will be felt in FY10-11 and thereafter.


Meeting Adjourned:  11:57 a.m.


Minutes:    Jeff Clements, Chief of Research


Tapes:       Seaport/Airport Committee meeting – LSD


Materials:  Mid-year budget review packet - LSD