City of Madison, Wisconsin | Legislative Information Center
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File #: 61433    Version: 1 Name: Authorizing the Community Development Division to accept grants from the Cities for Financial Empowerment Fund, Inc (known as the CFE Fund) to plan for and implement a Summer Jobs Connect youth employment program ($20,000), and create a Financial Navigato
Type: Resolution Status: Passed
File created: 7/16/2020 In control: FINANCE COMMITTEE
On agenda: 9/1/2020 Final action: 9/1/2020
Enactment date: 9/8/2020 Enactment #: RES-20-00617
Title: Authorizing the Community Development Division to accept grants from the Cities for Financial Empowerment Fund, Inc (known as the CFE Fund) to plan for and implement a Summer Jobs Connect youth employment program ($20,000), and create a Financial Navigator program ($80,000), and amend the Division’s 2020 Operating Budget, as needed, to receive and expend the funds.
Sponsors: Shiva Bidar, Arvina Martin, Marsha A. Rummel, Syed Abbas
Attachments: 1. CFE Fund_Overview.pdf
Fiscal Note
The proposed resolution authorizes accepting $100,000 in grant funding from Cities for Financial Empowerment (CFE) Fund, Inc. and amending the 2020 Adopted Operating Budget for Community Development Division - Economic Development & Employment Opportunities and Community Support Services. The CDD operating budget will be amended as shown below. No additional General Fund appropriation is required.

· Economic Development & Employment Opportunities (CFE Summer Jobs Connect):
o Youth Employment revenue = $(20,000)
o Youth Employment supplies = $4,000
o Youth Employment purchased services = $16,000
· Community Support Services (CFE Finance Navigators):
o Access Resources revenue: $(80,000)
o Access Resources purchased services: $80,000
Title
Authorizing the Community Development Division to accept grants from the Cities for Financial Empowerment Fund, Inc (known as the CFE Fund) to plan for and implement a Summer Jobs Connect youth employment program ($20,000), and create a Financial Navigator program ($80,000), and amend the Division’s 2020 Operating Budget, as needed, to receive and expend the funds.
Body
In 2019, the City of Madison joined a cohort of municipalities through the Cities for Financial Empowerment Fund, Inc, (the CFE Fund), and CityStart, to address the subject of financial empowerment models. The CFE Fund will offer the City technical assistance to create a blueprint for a service model to deliver coordinated financial empowerment services to Madison residents. The CFE Fund invited cohort members to apply for, and Madison was awarded, additional grant funding to help further develop their financial empowerment objectives while finalizing the blueprint, which is expected to be completed by year-end. The Community Development Division (CDD) will manage these funds and oversee the financial empowerment program or services that emerge.

Many Madison residents are seeking guidance on available financial resources, particularly in respons...

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