In the three months between March 31 and June 30, the financial situation of the Jacksonville Transportation Authority worsened by another $29.5 million, a report from the city of Jacksonville shows.
A quarterly report from the City Council auditors, released Aug. 14, showed revenue continued to decrease and expenses continued to increase for the already cash-strapped city authority. That negative trend comes as JTA has already implemented cost-cutting measures, with more on the way in coming months.
The authority is expected to finish the year with a $31.8 million deficit, auditors wrote, an increase from the projected $2.25 million deficit reported six months into the fiscal year on March 31. JTA’s fiscal year, like the city’s, runs Oct. 1 to Sept. 30.
Read the rest of this story at the Jacksonville Daily Record, a Jacksonville Today news partner.



