Chairman: Jacksonville City Council auditor's report is no cause for panic

"A City Council Auditor's report identifies a number of six- and seven-figure financial holes in city funds."

"Council Finance Chairman Michael Corrigan agreed that some of the numbers in the 72-page report looked toxic, but his initial read showed no sign to panic."

"The report says salaries and benefits were part of a $17.6 million savings because of some staffing vacancies."

"Finance Committee members spent several minutes discussing the report during their Tuesday meeting."

"Among the report's findings:

- A projected $2.9 million shortfall in building inspection revenues.

- More than $1 million negative cash balance in parking garage revenue.

- Liabilities doubling available cash for Veterans Memorial Arena and the Baseball Grounds."