CA Govt Code § 95503 (2021)
2021 California Code|Government Code - GOV|TITLE 13 - CALIFORNIA SAVINGS AND ASSET PROJECT|Section 95503.

95503.  (a) The department shall issue by July 1, 2003, a request for proposals to entities that may apply to become the nonprofit facilitator of the project. Applications shall include, but need not be limited to, all of the following components:(1) A description of the organization submitting the proposal.(2) A description of the planning process used to design the project.(3) A business plan, including a market assessment, to be developed and used during the planning process, describing a target group or target area and the needs to be served, and cultural considerations.(4) A marketing plan, including a description of the outreach and recruitment of participants for the project that uses information developed in the planning and market assessments.(5) A description of project operations, including a description of the fiscal management plan, staffing pattern, arrangements with financial institutions, data management plan, and partnerships with other organizations.(6) A description of the accounting methods to be used and evidence that the entity has the capacity to monitor pooled matching funds and project funding.(7) A financial projection, including a proposed budget and fund development strategies.(8) An annual audit.(9) A description of primary project policies and procedures.(10) A description and plan for delivery of personal financial management training and asset-specific training.(b) The department shall, with the cooperation of the nonprofit facilitator, submit an annual report to the Legislature on the first day of January, commencing in 2004. The report shall include, but is not limited to, all of the following:(1) The number of enrolled participants.(2) The number of individual development accounts established.(3) The aggregate savings achievements.(4) The number of participants who have completed the program.(5) The number of participants who have completed financial education.(6) A minimum of two participant profiles.(7) A financial report, including the use of state funds, other leveraged funds, and the status of other committed funds.(8) A summary of program achievements and obstacles.(9) Program and fiscal projections for the next year.(c) (1) The department shall assemble a review committee to read and score proposals by interested nonprofit facilitators in response to the request for proposals. The review committee shall include a staff member from the department and other experienced individual development account practitioners from diverse communities.(2) The review committee shall score the proposals according to the components required in Section 95504, as well as best practice standards agreed upon by the asset-building field and a demonstrated capacity to conduct statewide activities and subcontract with service providers around the state.(d) The department shall select a nonprofit facilitator to participate in the project based on the proposals submitted and scored pursuant to this section.(e) The department shall allocate funding to the nonprofit facilitator for the project, subject to the requirements and limitations of the funding source.(f) The department shall annually pay the nonprofit facilitator up to 10 percent of the project’s total annual allocation for the purpose described in Section 95504, and may reserve up to 5 percent of the project’s total annual allocation for its own administrative purposes.(Added by Stats. 2002, Ch. 1024, Sec. 2. Effective January 1, 2003. Conditionally operative as prescribed in Section 95501.)