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Record of Proceedings

Jackson City Finance Committee Meeting – General Fund Revenue Review – April 13, 2026

Meeting Portal — Monday, April 13, 2026
BodyJackson, Mississippi
SessionMeeting Portal
DateMonday, April 13, 2026
StatusFILED
Video Record
0:00 / 1:24:15

Transcript — Verbatim
0:02

Good afternoon.

0:04

It is 3 31, and we'll call our finance meeting to um order today.

0:11

Today the meeting is going to cover the general fund, the budget revenue only, not expenses.

0:17

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.

0:25

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.

0:37

As we know, the amount that we budgeted is higher than the actual revenues based on that information that we received in anticipation.

0:46

So everybody in here is to understand the same thing.

0:50

And I want to point out a couple things on the reports before we get started.

0:55

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.

1:10

We have to do it prior to the regular meeting in July.

1:15

So July is our deadline.

1:17

I want everybody in here to know the deadline.

1:19

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.

1:27

So we all know the deadline.

1:28

We know our goal is to have it done by May, and there's some publication requirements, and we're gonna meet those requirements.

1:36

So we have the whole month of May to do what we need to if we need it.

1:41

The way we're gonna handle it is first we're gonna do revenues.

1:44

The next meeting is gonna be expenses.

1:46

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.

1:54

Our finance department, Mr.

1:56

Jackson has worked hand in hand with me.

1:58

Miss Um Caldwell, Mr.

2:00

Jackson has done uh projections based on the information.

2:06

So there's nothing in here that nobody should have any questions about.

2:10

We only balancing uh we're only working with the budget for the general fund.

2:14

There are other funds in the city, but we will not be working with them.

2:18

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.

2:29

That's information from the October 2025 uh calendar to March 31st of this year, 2026.

2:38

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.

2:50

That's what we adopted April 1st is actually yeah, March 31st is the ending date.

2:58

Okay, but where you see it saying original, that is the adopted budget.

3:03

Okay, it does not say adopted budget, but you need to write that on you still trying to find it.

3:08

Yep.

3:08

Okay.

3:09

Uh it's just report right here.

3:11

Right there in your hand.

3:12

That one right there.

3:13

Uh huh.

3:14

That first call.

3:15

So this this is I've got two.

3:17

So one says expenses, and one says we're talking about revenue.

3:23

We're only working on revenue.

3:24

Yeah, you got the expenses in your hand, but we only work in revenue, okay.

3:28

And the reason I'm telling you these columns in layman's terms, you need to know what we're dealing with.

3:33

And when you look up there and see that, you think it's something else, okay?

3:37

The revised budget is the same as the adopted budget.

3:42

Okay.

3:43

The year to date uh expended is what we have collected.

3:50

That is not what we have spent.

3:51

That is strictly collections.

3:53

We got to get the terminology correct here, or we'll never get to the finish line.

3:56

Well, you write it up.

3:57

That's we don't work.

3:58

It shouldn't say expend expended, because we haven't expended it.

4:02

We need to make make sure Mr.

4:04

Davison, please help me on this.

4:05

We're gonna make sure the terminology is right if we if everybody's gonna understand this and come to the right conclusion at the end of the day.

4:12

Well, this is this is how this is how MINAES, the system that the city of Jackson has adapted adopted.

4:19

This is what it is printing.

4:20

So therefore, I'm gonna write sir.

Discussion Breakdown — Share of Meeting
Budget Equity Analysis█████████████████████████████████████████████73%
Fiscal Sustainability██████10%
Technology and Innovation██4%
Engineering And Infrastructure██4%
Water And Wastewater Management██4%
Public Safety█2%
Public Engagement█2%
Personnel Matters█1%
Summary of Proceedings

Jackson City Finance Committee Meeting – General Fund Revenue Review – April 13, 2026

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.

Discussion Items

  • Terminology and Report Clarification: The chairperson clarified that the “original” and “revised budget” columns in the MINAES system report are nearly identical, except where amendments have already been made. The “year-to-date expended” column actually represents revenue collected. A footnote will be added to avoid confusion. The committee decided to work from the raw numbers rather than summaries.
  • General Property Taxes: As of March 31, 2026, $53,952,000 had been collected, representing about 79% of the annual budgeted amount – on track for the midpoint of the fiscal year.
  • Licenses and Permits: Only 56% of the annual budget had been collected, with notably weak categories including combustion/flammable liquid licenses (fire department), sign permits, adult entertainment licenses (18%), historic preservation (32.7%), and plumbing permits (40%). The chair noted that construction season may boost second-half revenue.
  • Fines and Forfeitures: A significant shortfall – only 23% collected ($377,287 against a budget of $1,639,470). Solutions discussed included migrating to an online payment system (DigitCourt, used by New Orleans) and holding an amnesty day.
  • Intergovernmental State – ABC Alcohol Permits: Only $109,465 of the $330,000 annual budget was received. The ongoing issues with the ABC warehouse were cited as a factor; the finance manager now projects only $220,000 for the year.
  • Parking Meters: Budgeted at $100,000, but nothing had been collected. Several council members expressed frustration with the current contract, which has generated complaints and no revenue. The CAO (Peter Taberson) noted the contract allows the vendor to recover its costs first; the city might be able to exit but could face litigation. He agreed to request a legal memo on options.
  • Thalia Mara Hall / Municipal Auditorium: Budgeted at $156,000 but zero collected to date. The council noted that operations were transferred to Visit Jackson after the budget was adopted, so the revenue line should be adjusted downward. The CAO promised to review the financial arrangement.
  • Interest Earned on Investments: Budgeted at $379,953, but only $6,915 collected (1.8%). The new contract with JP Morgan Chase is still being implemented; the CFO (Jillian Caldwell) said the first interest payments would likely be received after June 1. The CAO noted that FY2027 budget will see a significant increase in this line.
  • Indirect Cost (Line 0015515): Budgeted at $2.68 million, but only $58,333 collected. This line represents administrative reimbursements from enterprise funds (water/sewer, sanitation). Because the city no longer receives indirect costs from water/sewer, this line should be reduced to about $350,000 (sanitation only).
  • Union Station Tenant Rent (Line 0015467): Budgeted at $102,000; only $10,200 collected. JRA, which oversees the station, pays rent to the city. The finance manager will research the agreement to determine the correct expectation.
  • Sale of Fixed Assets (Line 0015427): $55,000 budgeted; $2,006 received. The first online auction (via GovDeals) closes April 14, which may bring in additional revenue.
  • Water/Sewer Franchise Fee (Line 0015417): Budgeted at $972,000 with zero collected; this line is being eliminated as the arrangement with Jackson Water has changed.
  • Historical Context: The CAO explained that the current deficit stems from decisions in 2023: salary increases for police and fire, conversion from comp time to overtime, and additional funding for planning and development. The impact was about $12.4 million (police $7.5M, fire $3.5M, planning $1.4M). Simultaneously, the loss of the water/sewer building further reduced revenues. The city’s fund balance was used to cover these shortfalls in FY2023-2025, nearly depleting it. The remaining buffer must be preserved for emergencies (e.g., tornado response).
  • Customer Service and Cash Handling: A councilmember noted that poor customer service in permitting and other departments reduces revenue. The CAO agreed and stated the administration is moving toward cashless systems to prevent theft and improve efficiency. The golf course (which went cashless) generated $296,000 last year and may increase revenue by $100,000 with proposed fee and operational changes.
  • Debt Collection: The city attorney is working to bring law firms to collect outstanding fines; state law caps fees at 25%. This is not expected to impact this fiscal year.

Key Outcomes

  • The committee determined that actual revenue for the first half of FY2026 was $74,757,815, and second-half projections (based on FY2025 actuals) suggest about $37,427,151, for a total of approximately $112 million – well short of the $132 million adopted budget. A budget amendment is required because the shortfall exceeds 10%.
  • The chair directed the finance team to: (1) remove or mark as “draft” all line items identified as unrealistic (e.g., indirect cost, water/sewer franchise fee, Union Station overestimation); (2) update revenue figures to reflect actual collections through the latest date; (3) incorporate interest projections from the new bank; (4) add revenue from the upcoming auction; (5) prepare a list of line items with more than 30% deficit; and (6) provide a fixed expenditure list (including debt service) before the next meeting.
  • The next meeting will focus on expenses, with follow-up questions on revenue allowed first.
  • No formal votes were taken; all actions were directives for staff to prepare information for the budget amendment process.

Meeting Transcript

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.

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