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Committee approves board bill to accept financial empowerment center grant for Treasurer’s office
Summary
The Budget and Public Employees Committee voted to recommend passage of a board bill authorizing the St. Louis Treasurer’s Office to accept up to $2.02 million (with a possible additional $300,000) from the Cities for Financial Empowerment Fund to support a Financial Empowerment Center program.
The Budget and Public Employees Committee recommended approval of board bill 21 on May 28, a measure authorizing the St. Louis Treasurer’s Office to accept a Cities for Financial Empowerment (CFE) grant to expand the city’s Financial Empowerment Center (FEC) programming.
What the bill does: The ordinance authorizes the City Treasurer to accept an initial award of up to $2,020,000 and an anticipated subsequent award up to $300,000, enter into a memorandum of understanding with the Cities for Financial Empowerment fund and expend that money to support center operations and programming.
Why it matters: Committee members said the program supports financial coaching, curriculum development, community outreach and technical assistance for residents seeking financial-literacy and coaching services. The bill passed the committee by voice roll with four aye votes and will move forward for board consideration.
Vote and procedure: Alderman Rasheen Aldrick presented the bill; a motion for a do-pass recommendation was moved and seconded and the clerk recorded four aye votes, after which the committee advanced the measure.
Ending: Committee members welcomed the treasurer’s office program expansion and encouraged further community outreach as the grant is implemented.
