Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Antioch finance director flags $16.6 million structural gap at midyear budget update
Summary
At its Feb. 10 meeting, Antioch’s finance director told the City Council the midyear general fund outlook shows a roughly $16.6 million deficit driven by a $110.9 million expenditure plan versus $94.3 million in projected revenues, requiring use of reserves and further policy choices to reach structural balance.
Antioch’s finance director briefed the City Council on Feb. 10 that the general fund is facing a structural gap of roughly $16.6 million for fiscal year 2025–26, prompting a series of budget study sessions to find longer‑term solutions.
Finance Director Merchant told the council the city projects $94,296,782 in revenues against $110,954,729 in expenditures, and the adopted budget includes using $11,657,947 of fund balance plus a $5,000,000 draw from the budget stabilization fund to balance the year. Merchant said the projected ending fund balance is $38,167,551, which remains above the city’s 20% minimum reserve target.
T…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
