Warning signs missed? City auditors reveal years of questionable budgeting before JTA’s $39 million financial crisis

The financial problems that led to nearly 200 layoffs and sweeping service cuts at the Jacksonville Transportation Authority may have been building for years, even as the agency continued reporting a relatively stable financial picture to city leaders.That was one of the key revelations Thursday during the second meeting of the Jacksonville City Council’s Financial Audit and Oversight Select Committee, where city auditors presented a history of JTA’s finances and raised questions about spending, budget projections and whether warning signs were overlooked.The findings suggest JTA’s financial troubles did not happen overnight.Instead, auditors identified years of spending that exceeded budgets in certain departments, financial projections that appeared overly optimistic and reporting practices that made it difficult for city leaders to understand the agency’s true financial condition.The questions now are how much JTA leadership knew, when officials knew it and whether the agency’s boar