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Item 15 - Workforce Innovation and Opportunity Act Formula Youth Funds for Program Year 26-27
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Item 15 - Workforce Innovation and Opportunity Act Formula Youth Funds for Program Year 26-27
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6/10/2026 9:59:39 AM
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6/10/2026 9:54:27 AM
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City Clerk
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Community Development
Item #
15
Date
6/16/2026
Destruction Year
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EXHIBIT 3 <br /> Controller holds a BS in Accounting and has significant experience working with small <br /> businesses, particularly non-profit organizations. This ensures that the invoicing process is <br /> accurate and aligns with fiscal policies. <br /> Financial Stability & Independence from WIOA Funds: Hope Builders' financial stability is not <br /> solely reliant on WIOA funds due to its diversified revenue streams. While WIOA funds <br /> contribute to the budget, they represent only a portion of the overall funding. As previously <br /> noted, the organization generates revenue from multiple sources, including $1,825,000 from <br /> individual contributions, $1,420,000 from grants, $630,000 from program service revenue, and <br /> $601,487 from Hope Builders Career Connections (HBCC), the organization's social enterprise <br /> staffing agency (net of labor costs). This diversity in funding ensures that the organization <br /> remains financially stable, even in the absence of fluctuations in WIOA funding. <br /> Budget Allocation (Direct Youth Support vs. Administrative Costs): 82.5% of the budget will go <br /> directly to youth in the form of work experience payments, direct training, supportive services, <br /> and other related expenses. The remaining 17.5%will be allocated to administrative costs, <br /> primarily to fund the Grants Administrator and Director or Programs positions. <br />
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