DEPARTMENT: Employment and Economic Assistance
FILE TYPE: Regular Information
TITLE
title
Financial Empowerment Services Update
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PURPOSE/ACTION REQUESTED
Receive an update on the Financial Empowerment Services program.
SUMMARY
Financial Empowerment Services is a divisional program for Community Services that aligns with the County Strategic Plan Goal - A great place to live. The presentation will provide a review of the work plan and accomplishments. This initiative provides financial education and counseling services that empower residents to save money, reduce debt, improve credit, manage a budget, buy a home and car, and protect assets. Strategies, enhancement of skills, and knowledge are provided to help residents meet financial goals and improve well-being.
OUTCOMES
See Attachments: Performance Outcomes 2019-2021, for more information.
Key Accomplishments in 2019-2021:
• Counseled 1,050 participants
• In 2020 developed curriculum and taught the first virtual class on “Taking Control of Your Credit” partnering with the Dakota County Libraries
• Trained 2,040 County staff, community partner staff, and County participants
o Collaborated with Dakota County Adult and the Juvenile Correction staff to provide six different classes on a variety of Financial Empowerment topics
• Three households successfully completed the homeownership track and purchased a home
• Partnerships were strengthened with Veteran’s Home, Prepare and Prosper, Habitat for Humanity, East Metro Financial Network, Exodus Lending, MN Commerce Department, and other community partners
2022 Areas of Focus:
• Continue training County staff, community partner staff, and County participants expanding training to reach a more diverse audience
• Increase the number of individuals referred to one-on-one counseling
• Continue the work with Dakota County Alternative Learning Services teaching financial education to young adults
• Investigate new and expand existing software and case management systems to aid data collection and outcome tracking to inform program development
• Work with participants on Homeownership Track to become mortgage ready
• Continue partnership with Dakota County Adult and Juvenile Correctional Facilities
• Coordinate with the Veteran’s department by providing financial counseling to Veterans applying for the State Soldier’s Assistance Program (SSAP) grant
RECOMMENDATION
recommendation
Information only; no action requested.
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EXPLANATION OF FISCAL/FTE IMPACTS
None.
☒ None ☐ Current budget ☐ Other
☐ Amendment Requested ☐ New FTE(s) requested
RESOLUTION
body
Information only; no action requested.
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PREVIOUS BOARD ACTION
None.
ATTACHMENTS
Attachment: Performance Outcomes 2019-2021
BOARD GOALS
☒ A Great Place to Live ☐ A Healthy Environment
☐ A Successful Place for Business and Jobs ☐ Excellence in Public Service
PUBLIC ENGAGEMENT LEVEL
☐ Inform and Listen ☐ Discuss ☐ Involve ☒ N/A
CONTACTS
Department Head: Nadir Abdi
Author: Tiffinie Miller-Sammons