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Finance Committee hears $8.4 million recapture plan and quarterly report showing $30.4M projected variance
Summary
The Duval County Finance Committee received an annual recapture memo identifying $8.4 million for possible return to operating reserves, a quarterly report projecting about $30.4 million positive variance in the general fund, and audit follow-ups on stormwater fees and employee reimbursements; members asked for additional follow-up on JTA and several fund variances.
The Finance Committee met at 1:00 p.m. and heard the auditor's annual recapture memo and a quarterly financial summary, which together painted a cautious but manageable fiscal picture for FY24-25. Kim Taylor, presenting the recapture memo, said, "The total amount related to the 24-25 year was 8.4 million," and noted the solid waste disposal fund showed roughly $6.5 million available that will lessen planned loan draws.
Taylor told the committee two negative cash funds totaling about $150,000 will be addressed in forthcoming legislation and said the mayor's administration is proposing to apply any remaining recaptured balance to completion grants. The quarterly report showed a projected general-fund variance of about $30.4 million, driven by roughly $9.8 million in revenue overage and other adjustments; Taylor cautioned some entries are conservative and that one mutual-aid recording of about $9 million will require adjustment.
Council members pressed the auditor on revenue drivers and one-time versus recurring items. Council Member Will Landon asked whether state-shared revenue budgeting would be adjusted after a recent downturn; Taylor said factors include tax-holiday timing and a recent change in state law that reduced the county's share by roughly 1.7 percent. Members also raised questions about the self-insurance fund (a projected favorable variance of about $2 million this year) and prior-year surpluses that had been allocated to other uses.
The committee also received audit follow-ups: a second follow-up on the stormwater fee audit, which recommended consistent use of a third-party vendor and improved procedures, and an employee-reimbursement review covering FY24-25. The reimbursement audit examined about $403,000 of claims, finding generally appropriate documentation and approval but noting timeliness problems, incomplete policies and a small number of minor policy exceptions for mileage and cash advances. "We concluded reimbursements were appropriate and accurately recorded," Taylor summarized, while recommending policy clarification and process fixes.
The committee had no major procedural changes to the recapture recommendations at the meeting, but members asked for additional detail on the JTA revenue shortfall and urged staff to return with follow-up reports where noted. Several budget and ordinance items on the committee's consent calendar were approved by recorded vote during the meeting.
