Hearing on the Proposition C (June 2018) reserve fund balance, totaling $572,500,000 at the conclusion of Fiscal Year 2024-2025 according to the Department of Early Childhood, and how the City can use this reserve balance to expand eligibility for child care subsidies to families earning up to 200% area median income; and requesting Department of Early Childhood to report.

This agenda item concerns the Proposition C (June 2018) reserve fund balance, which is projected to be $572,500,000 at the end of Fiscal Year 2024-2025. The Department of Early Childhood is presenting this information to explore how this substantial reserve can be utilized to expand eligibility for child care subsidies. Specifically, the proposal is to extend these subsidies to families earning up to 200% of the area median income (AMI). The Department of Early Childhood is requested to provide a report on this matter.

This item could significantly benefit families by expanding access to child care subsidies for those earning up to 200% of the area median income, potentially making childcare more affordable for a larger segment of the population.

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