Donna Deegan ‘encourages’ Jacksonville board appointees to get financial training

Jacksonville Mayor Donna Deegan wants appointees to the boards of JTA, JEA and other independent agencies to learn something about municipal finance. Deegan made comments in the wake of reductions in staff and service at the Jacksonville Transportation Authority driven by a deficit and persistent rate hikes at JEA. Her remarks suggested that they don’t quite know enough for the job in some cases. “Our board members are citizen volunteers who give their time to serve this city, and they deserve every tool we can provide them to do that job well,” Deegan said. “Taxpayers deserve confidence that the people overseeing their money understand the budgets, audits, and ethics rules in front of them. This order puts that training within reach today. Working with the City Council, we’ll make these standards permanent through legislation.” Pending a bill to codify the standards, the Mayor can only suggest process improvements. These include governance and audit training covering fiduciary duties, internal and external audits, internal controls and fraud awareness, Florida’s Sunshine Law, public records laws, and state and city ethics rules. Chief Financial Officer Anna Brosche’s Office will be charged with training board members of agencies that want the help, once a 90-day ramp-up period ends. Starting next year, board members will learn how to read financial statements. Credit ratings, pension risks, and bond covenants will also be covered. The CFO’s Office will also offer “entity-specific briefings” to board chairs who request them. Deegan also seeks “chief executive certification of financial submissions from independent agencies to the City, so the Mayor, City Council, and Council Auditor can rely on the numbers and spot risks early.” The post Donna Deegan ‘encourages’ Jacksonville board appointees to get financial training appeared first on Florida Politics - Campaigns & Elections. Lobbying & Government..