Title:
NEW ITEM: FY2020 Restricted Contingency Update: Commonwealth Charlotte and Hope Haven
Summary
ACTION:
1) Receive a status update on funding placed in restricted contingency in FY2020 for Commonwealth Charlotte and Hope Haven; and
2) Release funds from restricted contingency for both agencies: $50,000 to Commonwealth Charlotte effective July 1 to support a community service grant that supports financial literacy & credit counseling services; and $452,080 to Hope Haven effective July 1 to support residential drug rehabilitation services
Staff Contact: Michael A. Bryant, Management & Budget Director
Presentation: Yes
BACKGROUND/JUSTIFICATION:
During the development of the FY2020 Adopted Budget, the Board supported the Manager's recommendation to place funding for Commonwealth Charlotte and Hope Haven into restricted contingency. The following is the language of the restricted contingency for each agency: Commonwealth Charlotte - funding held until the organization submits independently audited financial statements that meet Generally Accepted Accounting Principles; and, Hope Haven - funding held until the organization presents a detailed financial recovery plan to the County Manager, demonstrates capacity to execute the strategies of the plan, and hire an Executive Director. Assistant County Manager Mark Foster will provide an update to the Board on both items.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
$502,080