SECTION 1: PURPOSE

FIRST 5 Santa Clara County Commission adopted a 5-Year Community Investment Plan in 2004, which obligates its funds for the next five years. This plan will be reviewed and updated on an annual basis. This policy addresses how the Commission will manage the balance of any funds not accounted for in the Community Investment Plan.

SECTION 2: POLICY

The Commission will receive a report from the Fiscal Officer by October of each year that identifies the amount of funds that were not expended during the previous fiscal year and not accounted for in the current budget. These funds may include the fund balance from grants and contracts; the interest earned on investments; and any new revenue (e.g., grants from the State or a foundation).
The Commission’s priority is to ensure the sustainability of the 5-Year Community Investment Plan strategy. The Commission may consider various options for allocating the identified funds, including but not limited to:

A. Add funds to the Commission's sustainability fund;
B. One-time expenditures that support/enhance the 5-Year Investment Plan;
C. Fund a new program that furthers the Commission's adopted strategies;
D. Return to the Commission's general fund;
E. Enhance or expand an existing program or level of service;
F. Other purposes deemed appropriate by the Commission.

SECTION 3: PROCESS

Once the Commission has made a decision and, if the funds are to be allocated by way of a competitive process, the matter will be noticed on the FIRST 5 Web site and distributed to all partners and advertised in the local print media. Letters of Intent will be accepted pursuant to the FIRST 5 Santa Clara Funding Cycle.