The Finance Committee met on April 13, 2026, at 3:31 PM to review the general fund revenues for Fiscal Year 2026. The primary goal was to examine actual revenue collections for the first six months (October 2025 through March 31, 2026) compared to the adopted budget, understand shortfalls, and identify potential adjustments before the July 2026 deadline for a revised budget. The meeting focused solely on revenue; expenditures will be addressed at a subsequent meeting.
Good afternoon. It is 3 31, and we'll call our finance meeting to um order today. Today the meeting is going to cover the general fund, the budget revenue only, not expenses. The goal today is to see the revenue that we've collected in the first six months of the physical year, the actual versus the budget. Item number two is examine the um revised all the information that we've received and compare it to what we expect to collect the second half of the physical year. As we know, the amount that we budgeted is higher than the actual revenues based on that information that we received in anticipation. So everybody in here is to understand the same thing. And I want to point out a couple things on the reports before we get started. And also I want to point out the budget amendment regular uh regulations for the state of Mississippi, Section 21 3525 tells us exactly when we must make the amended budget. We have to do it prior to the regular meeting in July. So July is our deadline. I want everybody in here to know the deadline. And I've made a copy of the regulations, and I also made sure that they were current with the information that I'm giving you. So we all know the deadline. We know our goal is to have it done by May, and there's some publication requirements, and we're gonna meet those requirements. So we have the whole month of May to do what we need to if we need it. The way we're gonna handle it is first we're gonna do revenues. The next meeting is gonna be expenses. Once we've presented all the revenues today, you'll have time to study, see if there's any way that we can increase these revenues and see where we actually are. Our finance department, Mr. Jackson has worked hand in hand with me. Miss Um Caldwell, Mr. Jackson has done uh projections based on the information. So there's nothing in here that nobody should have any questions about. We only balancing uh we're only working with the budget for the general fund. There are other funds in the city, but we will not be working with them. And to start off, the numbers that you have in front of you, the report that we're gonna work with today says City of Jackson, year to date budget report, physical year 2026. That's information from the October 2025 uh calendar to March 31st of this year, 2026. On this um report, you'll see a column that says um original, and that is um where it says original, that's the adopted budget. That's what we adopted April 1st is actually yeah, March 31st is the ending date. Okay, but where you see it saying original, that is the adopted budget. Okay, it does not say adopted budget, but you need to write that on you still trying to find it. Yep. Okay. Uh it's just report right here. Right there in your hand. That one right there. Uh huh. That first call. So this this is I've got two. So one says expenses, and one says we're talking about revenue. We're only working on revenue. Yeah, you got the expenses in your hand, but we only work in revenue, okay. And the reason I'm telling you these columns in layman's terms, you need to know what we're dealing with. And when you look up there and see that, you think it's something else, okay? The revised budget is the same as the adopted budget. Okay. The year to date uh expended is what we have collected. That is not what we have spent. That is strictly collections.