Explanation
BACKGROUND: The Office of the Mayor, through the Columbus Women’s Commission, has been awarded a $20,000 grant from the Cities for Financial Empowerment Fund, Inc. in support of the city’s engagement efforts to improve the financial stability of low and moderate income households. The grant award is made available through June 30, 2020, and the funds granted will be used to, among other things, develop a municipal financial empowerment blueprint, including the city’s financial empowerment goals, actionable strategies, sustainability approaches, and an implementation roadmap rooted in local insights. This blueprint will be developed with stakeholder feedback and engagement.
This ordinance is submitted as an emergency so as to allow the financial transaction to be posted in the city's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
FISCAL IMPACT: A total grant award of $20,000 from the Cities for Financial Empowerment Fund, Inc. is being awarded to the Office of the Mayor, through the Columbus Women’s Commission. An acceptance and appropriation of said grant is required. A total of 80% of the funds will be granted in advance, with the remaining 20% granted at the satisfactory completion of project deliverables. Should expenses post to the grant that are not reimbursed, a transfer of funding from another source will be necessary.
Title
To authorize and direct the Mayor to accept a grant from the Cities for Financial Empowerment Fund, Inc.; to authorize the appropriation of $20,000.00 from the unappropriated balance of the private grant fund; and to declare an emergency. ($20,000.00)
Body
WHEREAS, the success and vitality of Columbus as a whole is inexorably linked to the financial security of families; and
WHEREAS, according to the Urban Institute, 57% of Columbus families are financially insecure with less than $2,000 in savings and 42% of residents have sub...
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