Monday, June 13, 2022

Snapshot: Jackson Finances

More money than ever flowed into Jackson's coffers while it struggled to maintain basic services in 2020.  The 2020 annual audit reveals the Covid pandemic and all of its shutdowns barely scratched Jackson's piggybank 

The 2020 audit reports Jackson's total revenue was $264 million, an increase of $22 million from 2019. The increase includes $14.8 million in Siemen's settlement funds.  


Although heavy emigration took place over the last twenty years, Jackson receives more property tax revenue than ever although it also has the highest property tax rates in the Jackson metro area.  The point is flight or no flight, Jackson's property tax revenue hasn't disappeared with Jackson refugees.  

 Sales tax revenue continued along the same lines as well although with a bit of a twist. 

 Obviously Jackson sales taxes didn't fall $20 million in one year.  The "other" line on the income statement was negligible until 2017 when it jumped from $942,000 in 2016 to $39.3 million, the same year the sales tax revenue plummeted. "Other income" remained between $39-41 million each year since 2017.  Obviously something was reclassified or included in Jackson's revenue.   When "other revenue" is included, the combined revenue jumps up to $55 million. The change must have been due to a GASB rule change or the inclusion of the internet sales tax diversions although that did not take place until 2018. 



The water, sewer, and sanitation audits will be discussed in a separate post this week. 

Haven't seen these facts discussed in the media, have you? Don't expect the media to do so as the real picture doesn't fit the media narrative  of a broke city ruined by whites deserting the city en masse, never mind the black flight.  The media doesn't report that feature of Jackson's decline as well.  Nope, its easier to blame race than figure out financial statements.  The 2020 audit shows the real store: While Jackson collected more, it served less and that my friends, is the bottom line. 



Anonymous said...

The point is flight or no flight, Jackson's property tax revenue hasn't disappeared with Jackson refugees.
Don't expect the media to do so as the real picture doesn't fit the media narrative of a broke city ruined by whites deserting the city en masse, never mind the black flight.


AND how is it that JPS schools can't be academically successful in their mission to educate without higher percentages of white students?????

Anonymous said...

The City of Jackson's ad valorem taxes are in BEAST mode and will increase with every passing year?

Anonymous said...

Organized Crime Rocks.

Anonymous said...

The basic facts, as I understand them:

1. Revenue is at an all-time high.

2. The police department was given $7 million more than it spent last year.

3. The public school system gets more money per student than any other public school system in the state.

4. Jackson is almost 85% black, with black mayors for the last 20 years.

So, are there any reasons for Jackson’s abysmal rankings, compared to other major cities and school districts, other than lack of funds and racism? Jackson, Mississippi: Doing Less With More!

Anonymous said...

1:41 I think you may have a point. One thing about Chokwe though is he keeps his beard groomed and his lines straight. Got to look good when busting up in the M Bar.

Anonymous said...

Help me out! Business Type Activities Revenue $56.8M. I assume that’s water/sewer and sanitation?

Business Type Activities Expenses Water/Sewer 68.3M + Sanitation 10.8M = $79.1M.

Does that mean they lost $22M????

wise_guy said...

Here are some really telling numbers:

Revenue [minus] expenses:

Governmental activities 2020 = 36,370 2019 = 33,689
Business-type activities 2020 = (9,164) 2019 = (33,016)

So, the City runs a surplus on governmental activities while losing millions (or tens of millions) on the "Business-type activities." If this were truly a "business," it would be bankrupt.

What would the revenue numbers look like in the "Business-type activity" columns if the City had been collecting all it was supposed to collect for water/sewer services?

Anonymous said...

4:27, don't be lazy. Read the footnotes. Don't ask people to do your work.

Anonymous said...

4:42. 4:27 here. I assume you’re implying that the Siemens $14.7M should be in my revenue number? You might be right but that’s almost smoke and mirrors. They are still paying for the Siemens bond even though the meters are being replaced as I write this. Things are much worse than a $7M loss.

Anonymous said...

Marcus Wallace for Mayor 2025

Anonymous said...

I know a lot of lawyers lurk on JJ but clearly no accountants do. Jeez.

wise_guy said...

Wow. I was lazy and didn't read the footnotes (actually the Scribd doc wasn't available when I looked at this earlier). So, if you back out the $15M settlement from Business-type activities in 2020, the numbers look even sh**tier. That's one-time money, so unless the City figures out how to collect for water/sewer, the loss in 2021 likely exceeded $20M again.

Anonymous said...

Help me 5:59! Page 16 Statement of Activities shows Water/Sewer Expenses $68M and Revenues $47M. So how much did the enterprise fund actually lose?

Anonymous said...

Page 3, auditors opinion…”substantial doubt about the convention center’s ability to continue as a going concern”. Big $ there…keep your eyes on it in the next few years…

Anonymous said...

Any way they could hire a couple dozen policemen with that booty?

Welcome to the City of Red Ink said...

Convention center debacle was all predicted @7:35 well before the public duping leading to the vote. Where's the Prophet now?

County Cletus said...

It is called theft in grifting. In the white liberals of Jackson allow it to happen.

Anonymous said...

Have to cut corners to "establishing an office of violence prevention and trauma recovery". It takes money to create executive level jobs for your friends.

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Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).

Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.

In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS