Candidate for
Treasurer; City of Antioch

Antioch sets forecasts for upcoming expenditures and set those funds aside. General Fund and reserves assets remaining are intended for longer-term growth. State law mandates defined portfolio guidelines, which promote safety, liquidity and income. Antioch has maintained a more narrow and constrictive policy.

City policy is formulated by the Treasurer based on experience and foresight. As Treasurer, within state guidelines, my goal would be to ensure the income potential on the remaining General Fund and Reserve Fund assets.

Nowadays, Treasury rates are 3%. This keeps us focused towards the short-term until rates ultimately rise back to normal levels.

However, 2 years ago, treasury rates offered 5% to be locked in for 5 years, until 2011. A small segment of the General Fund locked into those higher rates then would have continued to produce higher income for 3 more years. This could add up to be tens of thousands of additional dollars, to alleviate pressure on the General Fund and afford community services, street and sidewalk repair, police services, eliminate blight and attract new business.