Comptroller: property taxes drive most revenue; general fund healthy year‑to‑date

Comptroller Susan Carlos told the Fernandina Beach City Commission on March 18 that year‑to‑date general fund revenues stood at $23,660,000, representing roughly 74.3% of what was budgeted for fiscal year 2025. Carlos said property taxes account for about three‑quarters of the city’s revenue; combined sales/use taxes, utility taxes and intergovernmental receipts added roughly another 14%.

Carlos said year‑to‑date revenue is up by about $1.7 million compared with the same period last year; roughly $970,000 of that increase is attributable to higher property‑tax collections and $354,000 to increased charges for services. She also reviewed that most enterprise funds are operating with positive margins year‑to‑date — golf, airport, sanitation, wastewater, water and marina all showed positive operating results — while stormwater is running a small deficit (~$12,000 YTD) and is budgeted to operate at a deficit this year.

On expenditures, Carlos grouped spending by function and noted public safety represents the largest share; she pointed out several departmental timing differences (for example, the city clerk posts certain maintenance contracts early in the year) that affect percent‑of‑year appearances. The comptroller said the general fund balance at February 28 was $21,104,000 and that, overall, she did not see anything unusual to report.

Commissioners asked questions about seasonality (particularly golf revenue), transfers to capital funds, and the treatment of special revenue and building funds. Carlos explained that some funds are budgeted to draw down balances to comply with Florida statute on fund reserves, and she said the city will continue to monitor funds that run above or below benchmarks.

The presentation set context for upcoming budget work; commissioners thanked the comptroller for the clearer revenue breakdown and directed no immediate action beyond continuing oversight.