DEPARTMENT: Economic Development Department
DEPARTMENT HEAD: Alejandra Lopez
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT:
SA: Ready to Work FY 2022 - FY 2027 Financial Forecast and FY 2022 Proposed Budget
SUMMARY:
City Council will receive an informational briefing on the SA: Ready to Work Financial Forecast covering FY 2022 through FY 2027 and the FY 2022 Proposed Budget. The forecast will focus on funding for Administration, Intake & Assessment, Wraparound Services to include Case Management, Tuition Assistance, and Emergency Services.
BACKGROUND INFORMATION:
In November 2020, San Antonio residents approved the SA: Ready to Work initiative, which is designed to promote economic recovery by increasing access to education, training, and wraparound services for San Antonio residents and aligning with talent requirements of local businesses.
The Economic Development Department (EDD) provided City Council an overview of SA: Ready to Work program implementation planning and financial forecast in December 2020. Later that month, City Council created the SA: Ready to Work Advisory Board (“Advisory Board”) with the following charge to: (1) validate in-demand occupations, (2) recommend levels of wraparound support, (3) recommend allotment of certification training versus college education, (4) foster alignment between in-demand skillsets and training programs, and (5) serve as community ambassadors.
In March 2021, City Council appointed the Advisory Board, which is comprised of nine at-large members, representing local employers, workforce training participants, trade/labor, training/education and community organizations, and two City Council Liaisons.
The Advisory Board has met four times to discuss and provide feedback on the level of wraparound services and identifying in-demand occupations. During its meeting on March 30, 2021, the Advisory Board took action and officially recommended the wraparound services and case management model presented to City Council at the April 8, 2021 City Council Special Meeting. The Advisory Board met on April 16 and 30, 2021 and approved the recommended target occupations and the allotment of certificates versus two- and four- year degrees offered through SA: Ready to Work, respectively. The Advisory Board was also briefed on the FY 2022 to FY2027 Financial Forecast and FY 2022 Proposed Budget during the April 30, 2021 meeting.
ISSUE:
An updated SA: Ready to Work Financial Forecast for FY 2022 to FY 2027 as well as the FY 2022 Proposed Budget will be presented to the City Council. This financial forecast and associated budget reflect the actions City Council and Advisory Board has taken in the implementation of this program.
FY 2022 to FY 2027 Financial Forecast. The SA: Ready to Work Financial Forecast covering FY 2022 through FY 2027 will be presented to City Council on May 12. The Financial Forecast provides a current and long-range financial assessment addressing revenues, Ready to Work expenses, and financial reserves. The Forecast will focus on the funding for Administration, Intake & Assessment, Wraparound Services to include Case Management, Tuition Assistance, and Emergency Services.
The Financial Forecast is a projection of revenues and expenses for fiscal years 2022 through 2027 based on a set of assumptions as of April 2021. The Financial Forecast is not a budget, it is intended to provide the City Council and the community with a financial outlook for the SA: Ready to Work program.
FY 2022 Proposed Budget. Also presented to City Council on May 12 will be the proposed budget for FY 2022. The proposed budget reflects our anticipated revenues and expenses for July 1, 2021 through June 30, 2022. The proposed budget will be considered during the May 13, 2021 Pre-K Board Meeting and during the May 20, 2021 City Council “A” Session.
ALTERNATIVES:
This is an informational briefing only.
FISCAL IMPACT:
The FY 2022 Proposed Budget will be considered at the May 20, 2021 City Council "A" session. This briefing is for informational purposes.
RECOMMENDATION:
The SA: Ready to Work Financial Forecast is a briefing item with no staff recommendation to be considered by the City Council.
The FY 2022 Proposed Budget will be considered at the May 20, 2021 City Council "A" session.