We have a new pope!
Just kidding. But we do have a new-ish interim CEO of the Jacksonville Transportation Authority.
JTA’s board of directors unanimously decided Cleveland Ferguson III, JTA’s current chief administrative officer, is the best man for the job.
Ferguson began his career with JTA back in 2015 as the VP of administration, eventually taking over the CAO role three years later.
In a statement, Aundra Wallace, JTA board chair, said, “Cleveland is an experienced leader with a clear understanding of the organization and a plan to guide the JTA through an important budget cycle.”
Important isn’t really the word I’d choose.
More like… dumpster fire.
JTA is facing a projected operating deficit of more than $31 million, and possible cost overruns even higher than that. The shocking figure was revealed in an August quarterly report by City Council auditors.
Back in March, we were told JTA would finish the fiscal year just $2.25 million in the red.
By June, council auditors projected the year-end operating deficit at a jaw-dropping $31.8 million. And if that number wasn’t horrifying enough – during the subsequent Finance Committee hearing, officials claimed projected cost overruns as high as $32.8 million.
JTA’s other new guy — Chief Financial Officer Randall Barnes — revealed the agency is also sitting on more than $22 million in unpaid bills and recently secured a $40 million line of credit to help “catch up on our bills basically.”
Mr. Barnes, I’m gonna hold your hand when I say this — and I mean it with all due respect — but seriously, sir, like WTAF?!
Honestly, at this point, JTA doesn’t need a line of credit. It needs divine intervention.
Is this why there’s a Nat Ford-shaped hole in JTA’s front door?
To be fair, taking responsibility for a $32 million budget catastrophe and a stack of $22 million worth of I.O.U.s would make me run halfway across the country, too — preferably into the outstretched arms of another taxpayer-funded transit agency.
You’ll recall, over July Fourth weekend, Ford announced he would step down as JTA’s CEO in January 2027. Then a few days later, Dallas Area Rapid Transit (DART) announced Ford as a CEO finalist in its nationwide search. During a phone call before the vote, Mayor Donna Deegan reportedly gave DART’s board chair her blessing: “I hope Dallas is fortunate enough to get him.”
The announcement that Ford got the job came soon after.
Ford agreed to a three-year run as CEO with a base salary of $515,000 and an option for two one-year extensions.
He will also receive a monthly $1,000 “executive allowance” and $80,000 to move to Dallas.
If anyone is counting, that’s $607,000 his first year on the job, excluding other compensation and benefits — and somehow, reportedly, a “pay cut” for Ford.
Blessed are the departing CEOs, for they shall inherit $607,000.
Ford takes over as DART’s CEO Oct. 26.
Meanwhile back in Jacksonville, Ferguson officially took the wheel Sept. 1. Ford, however, hasn’t completely exited the vehicle. He is expected to remain on board in an advisory capacity until late October.
Apparently, JTA’s financial purgatory needs a highly paid spiritual adviser.
According to the Jacksonville Daily Record, Ferguson wants the CEO gig officially. Until then, he’ll have an opportunity to prove his worth by “stabilizing” the agency he’s helped administer for more than a decade.
“We’re in a period of transition that hasn’t happened in almost 14 years, and so that’s really what my focus is,” Ferguson said.
JTA’s website tells us Ferguson is currently pursuing a Ph.D. in Conflict Resolution and Analysis. Great. He’ll need it.
Over the summer break, I really thought I’d worked up the courage to break up with JTA and start dating another city agency that caught my eye.
Then I remembered: What God has joined together…
