Agenda

Return

C. 35

To:	Board of Supervisors
From:	Kathy Gallagher, Employment & Human Services Director
Date:	January 23, 2018

Contra

Costa

County

Subject:

Community Financial Resources, Inc. Memorandum of Understanding

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 01/23/2018

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:	CSB (925) 681-6338
cc:	Nasim Eghlima Ana Araujo

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: January 23, 2018
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the Employment and Human Services Director, or designee, to execute a memorandum of understanding containing mutual indemnification language, with Community Financial Resources, Inc. to partner on a financial literacy and money management project for the period of December 1, 2017 through July 31, 2018.

FISCAL IMPACT:

One hundred percent of the stipend given to families will be funded through Community Financial Resources (CFR). The oversight, monitoring, and instruction for the financial literacy program participants will be integrated into the existing services provided by Community Services Bureau’s staff. No additional county, state, or federal dollars will be utilized to provide these services. (No fiscal impact.)

BACKGROUND:

Community Financial Resources (CFR) and the Employment and Human Services, Community Services Bureau (CSB) will partner to provide a financial literacy program to parents enrolled in CSB childcare programs. CSB staff will provide oversight, monitoring, and instruction to the program participants. CFR will provide the monetary incentives, such as matching funds for savings accounts. The goal of the program is to strengthen the financial knowledge and capabilities of participants; connect participants with appropriate entry-level financial products and services, including bank accounts; and help developing more effective money management techniques and credit building habits for participants.

The Board approved the initial Memorandum of Understanding (MOU) with CFR on November 1, 2016 for an introductory period of 6 months. This board order is to approve a continuation of the program.

CONSEQUENCE OF NEGATIVE ACTION:

Community Services Bureau participants could not use the financial literacy and financial products to be provided through this agreement.