Lee on financial literacy expansion savings of $2M
Lee asks about $2M savings from delayed financial literacy expansion. Levine explains the delay was due to background checks for vendors taking longer than expected, with the same end goal of reaching every school district by FY29.
So the budget reflects savings of $2 million in fiscal 26 from a re-estimation of OFE's financial literacy expansion.
So can you clarify which plan programs or expansions are being delayed and what the revised realistic timeline looks like?
Yeah, absolutely.
This was purely a function, Madam Chair, of...
Background checks for vendors taking longer than we thought they would.
Got it.
We have the exact same goal as we did a year ago, serving every school district by the end of FY29.
We've had to delay the expansion by a little bit due to essentially a ministerial matter.
Okay.
And what's the estimated timeline, revised timeline, I should say?
It's actually the same for reaching the goal of every school district.
It's by the end of FY20.
So the end goal is the same, but it's just the middle part that's pushing out.
Okay.