Title
Receive the Monterey County Workforce Development Board Fiscal Year (FY) 2022-23 Semiannual Financial Status Report for the Workforce Innovation and Opportunity Act (WIOA) funded programs through December 31, 2022
Report
RECOMMENDATION:
It is recommended that the Budget Committee:
Receive the Monterey County Workforce Development Board Fiscal Year (FY) 2022-23 Semiannual Financial Status Report for the Workforce Innovation and Opportunity Act (WIOA) funded programs through December 31, 2022
SUMMARY/DISCUSSION:
Workforce Innovation and Opportunity Act (WIOA) revenues are drawn down from the State Employment Development Department (EDD) and from the Department of Labor (DOL) as expenses are incurred. Expenses are paid on a reimbursement basis from State and Federal allocations. Program expenditures are aligned with program revenue. The Workforce Development Board (WDB) receives its funding in two rounds for the Adult and Dislocated Worker programs. The first round of funding is July 1, 2022 - September 30, 2022, which is 16% of the allocation; the second-round funding is October 1, 2022- June 30, 2023, providing the remaining 84% of the allocation.
The WDB has up to two years to spend down its Adult and Dislocated Worker formula allocations. WIOA Youth funding is similarly allocated. The prior year's allocation from a given funding stream must be fully expended before the current year's allocation will be made available, and allocation amounts unspent after two years are recaptured by the State. The WDB can transfer funding from the Adult program to the Dislocated Worker program, or from Dislocated Worker to Adult; however, depending on current circumstances, funds cannot be transferred to or from the Youth program.
As the fiscal agent for regional grants, the WDB is the lead on key initiatives for the North Central Coast Regional Planning Unit (RPU) which includes the workforce development boards of Monterey, Santa Cruz, and San Benito counties. The WD...
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