RULES AMENDMENT

Finance Committee · 2026-04-21 · agenda_item

The City of Jacksonville Finance Committee is reviewing an amendment to rules regarding balanced budgets and budget stabilization reserves. This amendment proposes to include the exact dollar amount of $392,138,000 as operating reserves as of September 30, 2024. It also suggests setting a minimum operating reserve level, which would be the higher of 17% of the General Fund-General Services District budget or the September 30, 2024 reserve balance of $392,138,000. The amendment aims to establish a process for funding approved unfunded financial incentives by using General Fund Operating Reserves that exceed the current target of 7% of the General Fund-General Services District budget and the September 30, 2024 balance. This item is currently under review by the Finance Committee. Future legislation is expected to move any calculated funding into a contingency for future incentives. This process could involve financial planning, accounting, and legal services. Engaging with city officials early could provide insight into how these financial rules might impact future city projects and funding opportunities.

operating reserves

392,138,000 $

operating reserve floor

17 %

operating reserve balance

392,138,000 $

current target

7 %