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City auditor: Jaguars rent accounted as design-credit; JTA revenue ran about $5.8 million over budget
Summary
The council auditor updated the committee on two follow-ups: Jaguars rent was applied as a design-cost credit rather than a cash payment, and the Jacksonville Transportation Authority reported roughly $5.8 million more revenue than budgeted across divisions in the quarter reviewed.
The council’s auditor updated the Finance Committee March 4 on two items the office has been tracking: the Jaguars stadium lease accounting and a quarterly summary from the Jacksonville Transportation Authority.
Kim Taylor, council auditor, said earlier committee materials misstated whether the Jacksonville Jaguars had paid first-quarter rent. Under the lease language, the organization did not exchange cash for the first-quarter rent; instead, the city received a credit against design costs as an in-kind offset. “They are in…
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