Breaking Ground - August 1999

Now Is The Time To Act

Housing Credit Expansion in Republican Tax Bill

Good News for Child Serving Shelters: New Resources for Feeding Children

Welfare Reform Conference - Countdown to Time Limits - What's Next

Fannie Mae, Freddie Mac and HUD to Provide $2.4 Trillion in Mortgages For Affordable Housing

Ohio CDC Association - Notice of Funds Available

Helpful Information on Using Deposit Accounts

OCRP Traveling Show

Are You Spending Too Much Money on Your Workers' Compensation?

Safety Grants From the BWC

AmeriCorps Member Spotlight

Resources

 

 

Now Is The Time to Act...

As Congress left for its Labor Day recess earlier this month, two key housing issues remained unresolved: 1) Fiscal Year 2000 funding for the Department of Housing and Urban Development (HUD), and 2) the reconciliation of financial modernization legislation between the House (H.R. 10) and Senate (S. 900) versions.

At a time when the House HUD Appropriations Subcommittee approved a budget that is $2.5 billion less than HUD's Fiscal Year 1999 budget, the U.S. House of Representatives has approved a $792 billion ten-year tax cut, over 90 percent of which will benefit the top two-fifths of U.S. income brackets.

As reported by the National Low Income Housing Coalition, the House Subcommittee mark-up does not include any new vouchers; cuts public housing capital funds from their Fiscal Year 1999 level and operating funds from the President’s requested level; cuts homeless assistance grants by $5 million; cuts both CDBG and HOME (by $250 million and $20 million, respectively); cuts fair housing program funding; eliminates the regional opportunity counseling program (arguably the only HUD program expressly dedicated to income mixing, one of the main goals of the housing reform bill enacted in 1998); cuts the rural housing and community development program; cuts housing for persons with AIDS; cuts lead prevention; cuts housing counseling, and the list goes on. A few programs emerged unscathed (elderly housing, housing for disabled people, Native American housing) and remained level with last year’s funding.

The record surplus that everyone is celebrating and upon which the tax cuts are based are the result of discretionary budget caps that require deeper cuts to HUD programs with every passing year. This year's cuts are only the beginning.

Under the current budget constraints, the House will have to cut HUD/VA funding by at least eight percent, and the Senate by at least 13 percent. In both cases, however, the cuts for HUD will likely be much higher because of other programs, such as VA medical benefits and NASA, will be protected, requiring deeper cuts elsewhere.

Just before the recess, the HUD/VA appropriations bill went to the full committee for mark-up. The end result was not much different from the subcommittee mark-up; many of HUD’s programs emerged with significant cuts. The appropriations bill was scheduled to go the full House on August 5th, but the vote was postponed until after the recess. This action "strikes a terrible blow against families and communities in need, ensuring that those left behind on America's road to prosperity will fall even further back...I call on the House and Senate to reject these devastating cuts and improve funding levels for HUD," said HUD Secretary Andrew Cuomo.

As most of you are aware, financial modernization legislation passed both houses of Congress earlier this year. The House bill reduces Community Reinvestment Act (CRA) coverage by allowing banks to partner with insurance companies, securities firms, and mortgage companies without expanding CRA to the non-bank financial affiliates. It also exempts most mergers between banks and non-bank financial companies from application requirements to federal regulatory agencies. The Senate bill goes a step or two further toward dismantling CRA. It offers a “small bank exemption,” creates a “safe harbor” for banks with satisfactory or outstanding CRA ratings, and requires community groups to disclose the terms of any and all CRA related cooperative agreements reached with financial institutions. To date, some 360 cooperative agreements totaling more than $1 trillion in loans and investments for minority and working class neighborhoods have been reached.

 

After some squabbling and “muscle flexing” between Representative Leach (sponsor of H.R. 10) and Senator Gramm (sponsor of S. 900) regarding who would chair the Committee and the overall number of Conferees, things appear to be back on track. The rationale behind this move is not entirely clear. It has been speculated that Gramm did not feel comfortable with some of the senior members of his committee, and was not convinced that they would support key provisions of his bill. By appointing the entire Committee, Gramm’s chances of finding support among less senior members are enhanced.

On the House side, the majority of the discussion centered around the number of appointees from both the House Banking and Commerce Committees. Since each committee has jurisdiction over certain aspects of the legislation, it was unclear who would be included in the final tally. As it turned out, an equal number of appointees were named from each committee. In addition, members from both the House Judiciary and Agriculture Committees were appointed to vote on certain aspects of the legislation.

The delay in naming Conferees provided us with an opportunity to secure support for the CRA. Representatives Gutierrez and Barrett circulated a “Dear Conferee” letter in an attempt to ensure that Conferees did not forget about the merits of the Community Reinvestment Act. As of late July, a total of 124 Representatives had signed on, including four members of the Ohio Delegation (Representatives Tony Hall, Sherrod Brown, Stephanie Tubbs-Jones, and Dennis Kucinich). This letter was delivered to all House Conferees prior to the first scheduled Conference Committee meeting on August 3rd. Ohio Representatives Michael G. Oxley (R) and Paul E. Gillmor (R) sit on the Commerce Committee.

Also in late July, Representative James Leach (R-IA), Chair of the House Banking and Financial Services Committee, stated that “it is self-apparent that any rollback of existing CRA (Community Reinvestment Act) laws, any failure to advance certain privacy protections, or any approach which would cause institutions to leave the national banking system will result in a bill being vetoed.”

The potential impact of these two issues on the work that we do cannot be overstated. Approving an $800 billion tax break for the wealthy, while cutting HUD’s budget to the tune of $2 billion does not make sense. Dismantling the tool that has resulted in more than $1 trillion in investments for minority and working class neighborhoods does not make sense. NOW IS THE TIME TO ACT!

Since Congress is on recess, take advantage of the opportunity. Until early September, Representatives and Senators will be spending time in their districts. Call or write their office and request a local meeting. It is imperative that your voice be heard on these important issues.

Your elected representatives need to hear about the shortfalls in the HUD budget. Tell them about the expiring Section 8 crisis; about how the CDBG, HOME, and HOPWA programs work for people in their districts; about how homelessness is being addressed through the Continuum of Care process. Most importantly, they need to hear that failure to fully fund the HUD budget to the President's request, in an era of unprecedented wealth, is simply unacceptable.

Now that the House and Senate have appointed Conferees to reconcile the different versions of financial modernization legislation, it is time to act. Though only two members of the Ohio Delegation have been appointed, and they are both party-line Republicans, we must continue to fight the good fight. Once the Conference Committee reaches consensus, they will prepare a report which goes back to the House and Senate for a vote on final passage. This vote offers yet another opportunity to strike-down any financial modernization legislation that does not protect the Community Reinvestment Act. Your elected representatives need to hear that the CRA works, and if not protected, its effectiveness in leveraging affordable housing, small business, and community development lending will be substantially reduced.

For more information, contact Rick Taylor at COHHIO at 614/280-1984.

 

Housing Credit Expansion in Republican Tax Bill

The House and Senate conferees have agreed to expand the Low Income Housing Tax Credit as part of a $792 million Republican-crafted tax cut bill. Although the President has vowed to veto the package, he has also expressed a desire to work out a smaller tax cut. The current bill would increase the Housing Credit volume cap from the current $1.25 per capita to $1.75, phased in by 10 cents each year from 2000 to 2004. The volume cap would be indexed for inflation after 2004. The bill also includes several important programmatic changes.
- States would have to give preference in allocating the LIHTC to projects in Qualified Census Tracts that contribute to a concerted community revitalization plan.
- The definition of Qualified Census Tracts would be expanded especially to help distressed rural areas.
- Projects in Qualified Census Tracts could include within eligible basis some space for community services without restricting use to tenants.
- Unfortunately, the bill would also remove the participation of tax-exempt organizations as an allocation "selection criterion."
- The conferees also rejected a House plan to permit projects in Qualified Census Tracts and other high cost areas that use below-market HOME loans to claim the 30 percent eligible basis increase.
- The conferees did include a minimum allocation volume for small states of $2 million.

In addition to the LIHTC provisions, the bill would also increase the volume of tax-exempt private activity bonds, including mortgage revenue bonds for home ownership and rental housing. The current $50 per capita cap ($150 million minimum) would rise to $75 per capita ($225 million minimum) by 2004. The increase would be phased in starting in 2000. No indexing was included for years after 2004.

 

Good News for Child Serving Shelters: New Resources for Feeding Children

The 1998 Child Nutrition Reauthorization Act creates an important new resource for providing nutritious meals and snacks for children in homeless shelters. Effective July 1, 1999, the Act provides that shelters can use the Child and Adult Care Food Program to feed many homeless children. This resource is critical at a time when an ever increasing number of families are seeking refuge in homeless shelters.

The Child and Adult Care Food Program provides federal funds for meals and snacks to child care centers, family child care homes and now homeless shelters. Shelters participating in the Program will be reimbursed for meals and snacks served to children age 12 and under, age 15 and under for children from migrant families, and age 21 and under for children with disabilities. Families will not be asked to prove their income. Instead the homeless shelter will receive full reimbursement for each child fed who is eligible under the age criteria.

Participating shelters will receive approximately a dollar for each breakfast, two dollars for each lunch or supper and more than fifty cents for each snack. For each child served, shelters can receive food program reimbursement for up to three meals or two meals and one snack.

In Ohio, the agency responsible for administering the program is the Ohio Department of Education. The contact person at the Department of Education is Laura Pernice, Assistant Director of Child and Adult Care and Summer Food Service Programs. She can be reached at 614/ 466-9509 for application information. COHHIO is working with Ms. Pernice to schedule a statewide information and application session in October for interested shelters. Contact Pam Argus at COHHIO at 614/280-1984 for inclusion in this session.

 

Welfare Reform Conference - Countdown to Time Limits - What’s Next

October 1 marks the first day of the final year of welfare eligibility for many people here in Ohio and the question truly is “What’s Next???" The Ohio State Legal Services Association (OSLSA), with funds from the Milton Tenenbaum Memorial Fund, is sponsoring a conference that will explore the possible answers to that question. COHHIO is co-sponsoring the event.

The conference is open to community groups and organizations, advocates and all concerned about what happens on October 1. Workshops will include “how to” approaches to what is working in housing, child care, health, transportation, work, education, mentoring and more. Mark your calendars and join us on October 1, 1999.

WHEN: 8 am - 4:30 pm, October 1, 1999, WHERE: Holiday Inn East, I-70 and Hamilton Road, Columbus

For further registration information contact: Marian Harris, Conference Coordinator, at 614/861-7791 or marian2@ix.netcom.com.

 

Fannie Mae, Freddie Mac and HUD To Provide $2.4 Trillion in Mortgages For Affordable Housing For 28.1 Million Families

Fannie Mae and Freddie Mac, the nation's two largest housing finance companies, and the U.S. Department of Housing and Urban Development announced a policy that will buy $2.4 trillion in mortgages over the next 10 years to provide affordable housing for about 28.1 million low-and moderate income families.

This historic action raises the required percentage of mortgage loans for low-and moderate-income families from the current 42 percent of total purchases to a new high of 50 percent - a 19 percent increase - in the year 2001. The percentage will first increase to 48 percent in 2000.

"This action will transform the lives of millions of families across our country giving them new opportunities to buy homes or move into apartments with rents they can afford," said HUD Secretary Andrew Cuomo. "It will strengthen our economy and create jobs by stimulating more home construction, it will help ease the terrible shortage of affordable housing plaguing far too many communities, and it will help reduce the huge homeownership gap dividing whites from minorities and suburbs from cities."

In addition to helping low-and moderate-income families, the new initiative will also increase the affordable housing goals for loans made to underserved areas and will raise the goal for mortgages to benefit families with very low incomes.

Under the high goals, Fannie Mae and Freddie Mac will buy an additional $488.3 billion in mortgages that will be used to provide affordable housing for seven million more low-and moderate-income families over the next 10 years. Those new mortgages and families are over and above the $1.9 trillion in mortgages for 21.1 million families that would have been generated if the current goals had been retained.

According to Sheila Crowley, President, The National Low Income Housing Coalition, "The National Low Income Housing Coalition welcomes the news...The goals provide Fannie Mae and Freddie Mac the opportunity to join the resources and potential of the capital markets with the rental housing needs of the very poor...Raising the goals will help to narrow the homeownership gap for minorities, women and lower income Americans, as well as lead to continued innovation in single and multifamily housing finance."

Fannie Mae and Freddie Mac buy mortgages for both individual homes and for apartment buildings. They buy mortgages issued by banks, thrift institutions and other mortgage lenders, and then package the loans and sell them to investors as mortgage-backed securities. When Fannie Mae and Freddie Mac buy the mortgages from lenders, they provide the lenders with the cash needed to issue new mortgages.

Fannie Mae and Freddie Mac are publicly chartered to provide broad public benefits. Congress, through Fannie Mae's and Freddie Mac's Charter Acts and the 1992 Government Sponsored Enterprises (GSE) Act, required that Fannie Mae and Freddie Mac, in return for their publicly provided benefits, extend the benefits of the secondary mortgage market to a broad range of Americans. These include low-and moderate-income families, first-time homebuyers and residents of communities underserved by mortgage credit.

HUD, Fannie Mae and Freddie Mac raised two other goals. A special affordable housing goal for families with very low incomes and low incomes (those with less than 60 percent and 80 percent of area median) jumps from the current 14 percent to 20 percent (a 43 percent increase). In addition, a geographically targeted goal for underserved areas (central cities, rural areas, and underserved communities based on income and minority concentration) goes from 24 percent to 31 percent (a 29 percent increase).

Cushing Dolbeare, Housing Policy Consultant, and Founder and Chair Emeritus of The National Low Income Housing Coalition, called the announcement "good news to everyone who cares about increasing rental housing production and broadening access to homeownership, particularly for people of color...The goals that expire this year marked a major step toward broadening the benefits of the secondary market and increasing the current rate of home ownership to historic highs. It is heartening that the new goals will build on this experience and that this major commitment is now being made."

America's homeownership rate hit a record annual high in 1998, with 66.3 percent of all households owning their own homes. A total of 69.1 million families owned homes at the end of 1998. However, the homeownership rates varies a great deal between cities and suburbs, and between whites and minorities.

Homeownership Rate 1998
Nation Overall 66.3
White (non-Hispanic) 72.6
Black (non-Hispanic) 46.1
Hispanic 44.7
Central Cities 50.0
Suburbs 73.2

The higher Affordable Housing Goals will disproportionately benefit minorities and city residents, helping to close the homeownership gap, Secretary Cuomo said.

In addition, the higher Affordable Housing Goals will help ease the crisis-level shortage of affordable housing documented by a HUD report issued in March. That report found that the number of families earning less than 50 percent of the area median income and either paying over half their incomes for rent or living in severely substandard housing remains at the record level of about 5.3 million.

 

Ohio CDC Association - Notice of Funding Availability

1) Technical Assistance for Community Economic Development Projects. Assistance to nonprofit organizations and local governments which have projects in concept development or in the planning stages. Projects must benefit low to moderate income residents of the neighborhood or community. Available: $2,500 per group. Areas of assistance includes: how to get started in community economic development, small business lending, establishing an IDA program, commercial retail development and retention, initiating and operating a small business incubator, writing pro formas, creating businesses to employ low income individuals, real estate financing, brownfields restoration and working with financial institutions.

2) IDA Technical Assistance for CHDO’s. Will provide technical assistance to CHDO’s and nonprofit housing development organizations in the process of becoming CHDO’s in the area of Individual Development Accounts (IDAs). Areas of assistance includes: Ohio state law and resources for IDAs, developing IDA partnerships with county human services offices, evaluating potential policies and procedures, facilitating partnerships for service delivery, integrating IDAs into an existing home ownership program, determining match rates, accumulation periods, thresholds and ceilings, and permissible uses, managing IDA accounts, orientation, economic literacy, training and counseling, advertising and marketing, staffing, budgeting and fundraising, and Assets for Independence funding opportunities.

3) Technical Assistance for Ohio Microenterprise Programs. Assistance will be provided to nonprofit organizations and local governments which either currently administer or are interested in starting microenterprise programs. Available: $2,500 per group. Areas of assistance include start-up of new microenterprise programs, microloan policies and procedures, microloan committee operations and staff training, program design and evaluation, marketing and recruitment, education of board and stakeholders, developing partnerships and market development, design and evaluation of entrepreneur training, accessing TANF for microenterprise programs, developing an IDA component in a microenterprise program and integrating a microenterprise program with a small business incubator concept.

To secure assistance to any of these three NOFAs:
1) Submit a one page letter which requests technical assistance and broadly describes the type(s) of assistance needed.
2) Fill out or provide updated information for a self-assessment of your organization/local government. This form will be forwarded to you upon receipt of your written request.
3) Work with the staff to create an Assessment Report as well as a Technical Plan for Assistance to establish your organization’s readiness, steps for assistance, the technical assistance consultant, timeline and objectives.
4) Enter into a contract with the Ohio CDC Association to cooperate with the technical assistance provider and the Association, and to follow through on recommendations from the technical assistance consultant.

All technical assistance must be completed by December 30, 1999. For more information call Patricia Barnes at the Ohio CDC Association at 614/461-6392.

 

Helpful Information on Using Deposit Accounts

How do I cash a check?
You must endorse a check to cash it. On the back left end of the check, sign your name in the space provided exactly as it appears on the front of the check. If your name is not spelled correctly or a different version of your name is used, sign again the way you usually sign your name. Keep your endorsement within the top one-third of your check, above the line stamped on the back.

Once you have endorsed your check, it is as good as cash. Because anyone can sign his or her name under yours and get the cash, it is important that you wait to endorse your check until you want to cash it. If you want to sign your check over to someone else, after your signature, write “Pay to the order of” and the person’s name.

How do I open an account?
Once you have decided which deposit account best meets your needs, you are ready to open one. You will need to share certain information with the financial institution, such as your name, address, phone number and Social Security number. Some institutions will ask you to fill out forms with this information, although others may enter it directly into a computer. You will also need to show picture identification.

You will need to sign a signature card or a computer pad so your signature will be on file. Your institution will use this to verify that you, and not someone else, have signed your signature on deposits and withdrawals. Some institutions may request your thumb print, as well, to make sure others cannot withdraw money from your account. Signing the signature card means that you agree to all the fees, terms and conditions of the account.

When you open a checking account, the institution will ask you to choose the type of check and checkbook you want to use. Compare prices. Fancier styles may be more attractive, but are rarely worth the extra cost. Printed checks usually include your name and address. You can often add other information to your checks for free, such as your phone number or driver’s license number. Do not include your Social Security Number on your checks.

The institution will give you a set of starter checks to use until your printed checks arrive in the mail. You do not have to order your checks from your institution; mail order companies offer checks that may cost less.

How do I write a check?
Writing checks properly guarantees that the right amount of money goes to the right person. Follow these guidelines to make it more difficult for someone to alter your check. Preventing problems is much easier that trying to fix them later.

Always use ink to write checks. Record the current date on the top line of the check. Writing the check for a future date -- postdating -- will not stop someone from cashing it before then. Avoid returned check fees -- never write a check unless you have money in your account to cover it.

Next to “Pay to the Order of,” put the name of the person or company who is to receive the check. Start writing as far to the left as you can. Fill the space completely! If the name is not long enough, draw a line after it to fill the rest of the space. Using initials makes it easier for someone to alter your check. For example, a check made out to “IRS” could easily be changed to “I.R. Smith” and then cashed.

Next to and as close as you can get to the dollar sign ($), write the amount of the check in numbers, such as “$25.80.” Many checks have a box for this. On the next line, write the amount in words; for example, “Twenty-five and 80/100”. Again, fill the space completely. If the amount written in numbers is different from the amount written in words, your institution will cash the check for the amount written in words.

Sign the check on the bottom line on the right side of the check. If you want, write the reason for writing this check in the space provided on the bottom left side of the check, where it says “Memo.” Once you have written your check, record the check number, the date, the name of the person or company to whom the check is written and the amount in your checkbook register.

How do I add money to my account?
To add money to your account, you need to make a deposit. Your institution may give you preprinted deposit slips with your name, address and account number. If not, pick up blank deposit slips at your institution, and write in this information to make sure the money goes into your account and not someone else’s. You also can deposit money at an Automated Teller Machine (ATM) or through Direct Deposit.

How do I deposit cash?
After writing your name, address and account number on the blank deposit slip, fill in the current date. Add up the total amount of paper money (1’s, 5’s, 10’s, 20’s, etc.) and place this amount in the space next to “currency.” Add up the amount of any coins you wish to deposit. Place this amount next to “Coin.” Write the total amount of your deposit (all currency and coins added together) in the space “Total.” This is the amount that will be added to your account.

How do I deposit checks?
Endorse the checks. If you want to deposit an entire check into your account, write “For Deposit Only,” followed by your signature and your account number.
This way, the check can only be deposited into your account. This endorsement not only keeps others from cashing your check, but also means you cannot get cash back.

Make sure your name, address, account number and the current date are on your deposit slip. Use a separate line on the front of the deposit slip for each check you want to deposit. If you have more than two or three checks, use the back of the deposit slip, be sure to list the total (all the checks added together) on the line “Total from Other Side” on the front of the deposit slip. If you have currency or coins to deposit with your check, list it on the deposit slip in the spaces provided.

After you have listed all the currency, coins and checks you want to deposit, add them up. Write this amount on the line marked “Total.” If you make your deposit in person at your institution, you can get cash back. But you may only be able to get as much cash as you had in your account before making your deposit. Write in the cash you want in the space next to “Less Cash Received,” and subtract it from the total. Write this amount on the line “Total Deposit.” The “Total Deposit” is the amount that will go into your account.

Your institution may place a hold on newly deposited funds. This means you cannot use this money until the deposit clears. Federal law specifies when certain types of deposits must be made available. Depending upon the type of deposit, the funds must be available either the next business day, within two business days or within five business days.

Longer holds may apply if:
• The institution has reason to believe a check you deposit will not be paid.
• You deposit checks totaling more than $5,000 on any one day.
• You redeposit a check that has been returned.
• You have overdrawn your account repeatedly in the last six months.
• There is an emergency such as a failure of communications or computer equipment.
• Your account has been open 30 days or less.

How do I manage a savings account?
You need to manage your savings account so you always know how much money you have in it. Your institution will give you a passbook or savings account register to help you do this.

There are two basic types of savings accounts. Passbook and statement savings accounts -- offered by most institutions -- are easy to use. You can deposit money into your account at the teller window, at your ATM, by mail or by Direct Deposit. You can take money out of your account by using a withdrawal slip or an ATM Card. There may be limits on the number of transfers you can make, such as moving money from one account to another or paying bills by telephone. A fee may be charged if your balance drops beneath the minimum required.

With a passbook savings account, all of your transactions -- deposits, withdrawals, interest earned and fees -- are recorded in a small booklet, called a passbook. Take your passbook to the institution when you want to make a deposit, withdrawal or find out how much interest you have earned. The teller will print the transaction, interest earned and your new balance in the passbook. With a statement savings account, you will get a periodic statement that lists your transactions and interest earned during that period.

Tips for managing your account

Keep track of deposits.
Making a deposit means adding money to your account. Your institution will give you receipts for the deposits you make at the teller window, at an ATM or by mail. Save these receipts. Record your deposits in your account register.

Keep track of withdrawals.
To take money from your account, you need to make a withdrawal. You can pick up a withdrawal slip from your institution. Fill in your name, signature, date and the amount you want to take out of your account, then give the withdrawal slip to the teller. The teller will ask for identification, such as a driver’s license. Some institutions may ask for a thumb print. You also can withdraw money from an ATM.

Compare your records with your institution’s records.
If you have a statement savings account, you will get a statement, usually quarterly, that lists all your transactions since your last statement -- deposits, withdrawals, interest earned and fees charged. Contact your institution immediately if you find an error.

Make sure all the deposits you made are included on the statement.
If one of your deposits made before the closing date is not included on the statement, you will need your receipt to prove that you made the deposit. Deposits made after the statement closing date will not show up until your next statement. Keep these receipts until the deposits show up on your statement.

Make sure all the withdrawals you made are included on the statement.
Remember that recent withdrawals may not show up until the next statement. Compare your receipts with the statement. There may also be charges or other fees. For example, your account may be charged a fee if you use an ATM from another institution. Be sure to subtract these charges from your account register.

Add any interest (dividends) earned to your account register.
Your statement will also tell you how much interest your account has earned since the last statement. The larger your account balance, the more interest you will earn. Be sure to add the interest you earn to the balance shown in your account register.
After you have subtracted any fees, added any interest (dividends) earned and considered any deposits or withdrawals made after the closing date, your balance e should be the same as the balance shown in your check register. If not, call your institution. They can help you resolve any differences.

How do I manage a checking account?
The check register helps you keep track of how much money is in your account. This will help you avoid fees for bounced checks or for dropping below any minimum balance requirements. Here are some tips to help you manage your account.

Keep track of deposits.
Make sure you add any deposits to your balance in the check register. When you make deposits, save the receipts. They can help correct mistakes. Remember to add any automatic or Electronic Funds Transfer (EFT) deposits you may get to your checking account register when they are deposited.

Keep track of withdrawals.
Record and subtract any checks you write, withdrawals you make from ATM’s and payments automatically taken from your account. Be sure to subtract any fees or service charges from your account balance, including fees for ATM use.

Balance your check register.
Balance your check register every time you get a statement from your institution. Your statement shows all account transactions since the last statement. Balancing your check register means comparing the information in the statement with the information you have recorded in your check register. Statements often have a worksheet printed on the back to make balancing your check register easier.

How do I balance my account?
Start with your statement. Make sure each item listed on your statement is recorded in your check register and that the amount agrees with what you have recorded. Once you have checked an item, place a check next to it on both the statement and in your check register. This will help you to see which items listed in your register have already cleared your institution and will help you to avoid overlooking an item listed on your statement. Be sure to subtract from your register any fees and service charges listed on your statement. Place check marks next to these items in your check register to show that they have already been deducted by your institution.

Identify outstanding transactions. An outstanding transaction is one that has not cleared, or been paid out, by your institution by the statement closing date. You can easily see which transactions have not cleared in your check register: They do not have checks next to them. You may have made deposits since the statement closing date that do not appear on the statement. List them, and add up the total. You probably will have written several checks or made withdrawals that do not appear on your statement. List these too, and add up the total.

Balance your check register.
Start with the closing balance shown on the statement from your institution. Add any outstanding deposits. Next, subtract any outstanding checks and withdrawals. The total after adding outstanding deposits and subtracting outstanding checks and withdrawals should be the same as the balance in your check register. If not, follow these tips to help you find the error.
• Check your math! You may have made a mistake in your check register when adding or subtracting a transaction. Or you may have made a mistake when adding outstanding deposits or outstanding checks.
• Look for missing check numbers. Look in your check register to make sure that you did not forget to record a check you wrote.
• Double-check your statement. Make sure the items that you show as outstanding in your register are not listed on the statement. Make sure the amounts shown on your statement for deposits and withdrawals match the amounts recorded in your register.
• Call you institution. If you still cannot find the error, call your institution. They will help you reconcile your account. Some institutions charge a fee for this service. The fee is usually based on the amount of time needed to find and correct the error.

Information reprinted from the Financial Services Education Coalition.

 

OCRP

If you are interested in learning more about the Community Reinvestment Act (CRA) and how it impacts Ohio’s communities, the Ohio Community Reinvestment Project (OCRP) can help. OCRP is in the process of putting together a traveling “dog and pony” show on the basics of community reinvestment. The presentation will last approximately one hour, and focus on the history, successes (national and local), enforcement issues, and the current legislative status of the CRA. Please call Christina Buzzard at COHHIO at 614/280-1984 for more information.

 

Are You Spending Too Much Money On Your Workers' Compensation?

The Bureau of Workers Compensation allows organizations to group together to save them money on their workers' compensation premiums. COHHIO sponsors such a group, that saves our group members valuable dollars that can go to other more important work. According to the Ohio Bureau of Workers' Compensation, the COHHIO group rating program saved its members 79 percent on premiums last year, and is saving members 84 percent this year. COHHIO savings have been among the highest in the industry for three years in a row now. For example, a group not affiliated with a group would pay 100 percent of their premiums. With COHHIO's group, your organization last year would have only paid 21 percent of your premium, and only 16 percent this year. Joining a group rating program is the only way to ensure that you won't pay any more than you have to for workers' compensation. If you are interested in joining COHHIO's program, please fill out a Savings Estimate Authorization (AC-3). You can fax it or mail it to the Frank Gates Company. You will receive a free, no-obligation group rating savings estimate. At that point, you can decide if you'd like to join COHHIO's group. If you have any questions, please call Susan Francis at COHHIO at 614/280-1984.

Safety Grants From BWC

If you’re an employer who wants to decrease drug and alcohol use in your workplace or combat cumulative trauma disorders (CTDs), BWC will show you how Safety Works for You and your company.

Safety Grants provide employers with matching funds to help set up BWC’s Drug-Free Workplace Program and fund research to prevent CTDs.

“This is a unique opportunity for employers to ultimately reduce their own workers’ comp costs, with financial assistance from BWC,” says BWC Administrator/CEO James Conrad.

Reducing substance use and CTDs in the workplace will go a long way in reducing employers’ workers’ compensation costs. National statistics show someone who abuses drugs or alcohol is five times more likely to be injured at work, and is 40 percent more likely to involve a coworker in the accident he or she causes. And CTDs are one of the fastest growing types of workers’ compensation claims.

Under Safety Grants, private employers are eligible to receive a 2-to-1 matching grant, up to a maximum of $5,000, meaning a total of $7,500 - $2,500 from the employer and $5,000 from BWC. Public employers are eligible for a 2-to-1 matching grant up to a maximum of $10,000, meaning a total of $15,000, $5,000 from the employer and $10,000 from BWC. Employers must use these funds for educational training and materials for implementing BWC’s Drug-Free Workplace Program.

BWC also will provide funding to research and prevent CTDs. The Safety Grants program will award private and public employers a 4-to-1 matching grant, up to a maximum of $40,000, meaning a total of $50,000-$10,000 from the employer and $40,000 from the BWC.
Employers may use the grant to purchase equipment, conduct training and conduct research to reduce the number and severity of CTD claims.

In exchange, participating employers will allow BWC experts to use information and data gained at their facilities to conduct further research.

For more information about Safety Grants, call BWC at 800/OHIOBWC.

What are CTDs?
Cumulative trauma disorders (CTDs) are a group of physical disorders of the hands, wrists, elbows, shoulders, neck and back caused by repeated stress. Some typical CTDs include back pain, tendinitis, tenosynovitis, carpal tunnel syndrome and thoracic outlet syndrome.

Who’s at risk?
Workers exposed to force, repetitive motion, awkward postures, static loading, contact stresses or vibration are at risk.

What are the signs of CTD?
Symptoms include pain, tingling, numbness or loss of coordination in the affected area.

Which industries have the most CTD claim?
Industries with a high frequency of CTD claims include health care, meatpacking, construction and automotive assembly.

What work functions most often cause CTDs?
Clerical workers and material handlers typically have the highest rate of CTDs.

Taken from BWC Focus Magazine, Summer 1999.

AmeriCorps Member Spotlight

COHHIO's AmeriCorps Houses the Homeless Program has members all across the state working on homelessness and housing issues.

Jennifer O’neill:
I am a first year AmeriCorps member placed at the Y.W.C.A. in Youngstown. I am currently using my degree in Social Work to serve as a job and housing specialist for the residents of the transitional housing program. Being a life-long resident of Youngstown, I have been able to use my community connections to develop many leads on housing and job opportunities for our residents. The best thing about my job is working with the residents. I also am looking forward to using my AmeriCorps educational award to obtain my masters degree. Without this opportunity I would not be able to go back to school.

Owen Bair:
Although I am a first term AmeriCorps Member, I have actively participated in direct service all my life. I served as a Peace Corps volunteer in the mid 1960’s and later became part of the Peace Corps staff in Washington D.C. In addition to serving as a V.I.S.T.A. volunteer, I also had the opportunity to participate in community service in the West Indies. Currently I am serving as an AmeriCorps member at Lutheran Social Services, in Columbus, working with the Homeless Prevention Program. This program's goal is to assist low and very low income households to maintain or secure affordable housing. My plan is to continue to serve my community for many years to come.

Joanne Woods:
My life has been based on community service. Upon graduation from Miami University in Oxford, Ohio, I began to look for a career that would allow me to continue in the tradition of “giving back to the community.” Thus, I signed on as the AmeriCorps Follow-Up Housing Specialist at Friends of the Homeless in Columbus. In this capacity I help those clients who have utilized services and often I simply offer a listening ear. This year I will conclude my second term and I will use my AmeriCorps Educational Award to pursue my masters from Franklin and my PH.D. from Ohio State. I hope to open a shelter for African American foster care children in Columbus within the next five to ten years.

John Swaile:
I am a second year member serving at Focus Homeless Services in Toledo. I originally wanted this introduction to be so many things--about myself and my quirky life, anecdotes about the good (and the bad) things that have been a part of my AmeriCorps Experience, advise, yarns, tall tale and fables...Unfortunately time and other restrictions prevent me from doing this. I’ve done a lot of things since I joined AmeriCorps and I can say that I do believe in one thing and that is the power that people have when they gather in the name of good. At times it’s not in a neat little package, but in the long run it’s better than never having done anything at all. Getting things done in the sense that AmeriCorps asks us to get things done is one of the noblest ways a person can do for another. It’s the one thing that sustains me when I feel like throwing up my hands and quitting. I believe that as long as people are willing to reach out an open hand and not a fist, there will always be optimism and hope.

Resources

TRAININGS
Ohio CDC Association Trainings, Columbus. September 22-24 - Basic Skills in Affordable Housing Development Series, Codes & Standards, Methods & Materials. An entry-level, intensive training program for housing development staff in how to plan and implement affordable housing projects. $90. September 28-30 - Community Economic Development Series, Introduction to Community Economic Development. For information, call OCDCA at 614/461-6392.

September 24 - 1999 Batters Intervention Workshop Series - The Connection Between Substance Abuse and Domestic Violence, Ohio Domestic Violence Network, Columbus. This training will give chemical dependency counselors and batters intervention professionals an opportunity to learn and dialogue about the correlation between substance abuse and partner abuse. $75. Call at ODVN at 800/934-9840.

September 26-29 - 1999 Great Lakes Conference on Addictions & Mental Health: Building Cost Effective Treatment and Prevention Services in the New Millennium!, Community Addiction Services of Indiana, Indianapolis. Will feature clinical skill building general sessions and workshops dealing with the realities of healthcare delivery today and in the next millennium. The conference will look at expanding horizons in personal and client recovery as well as older options updated for today's realities. $340. For more information, call 317/283-8315.

The Ohio Historic Preservation Office (OHPO) is offering free Building Doctor Clinics. The remaining clinics are: Peninsula (September 16-17); Defiance (September 30-October 1) and Milford (October 21-22). Designed to help solve common, old-building problems and help owners make informed repair and improvement decisions. Plus they will visit older buildings in or near the communities where a clinic is being held to examine problems and prescribe cures. The clinics and consultations are free; however, interested participants must register to attend. For more information, call OHPO at 800/499-2470.

Workers' Compensation Workshops. The Frank Gates Service Company is offering workshops that cover claims administration, risk management services and safety. Cost is $20. The remaining workshops are September 16 - Cleveland, September 17 - Canton, September 21 - Toledo and October 5 - Columbus. For more information, call 800/395-4119.

PUBLICATIONS
Workbook for Creating a Housing Trust Fund is written for anyone engaged in a housing trust fund campaign. It is designed for local housing advocates as they work through the steps to successfully create a housing trust fund. Includes many examples and helpful hints. It is organized into three main chapters: Are you ready to create a housing trust fund? How do you develop the housing trust fund platform? and How do you run a successful campaign? It can be ordered from the Center for Community Change, 202/342-0567 for $10.

1999 Survival Guides. The Ohio Chamber of Commerce is offering these guides to help organizations maneuver through the confusing world of labor law. They are offering the following materials: Ohio and Federal Employment Law Manual ($88), Employment Discrimination - An Employer's Guide ($88 or these two books can be purchased together for $140, plus a free Federal Compliance Poster), Federal Compliance Poster ($10) and State Compliance Poster ($20). To order, call 800/848-5645.

FUNDING
The Cornerstone Housing Fund (CHF) is a newly created intermediary fund committed to providing financing for affordable housing projects in Northwest Ohio. CHF is a cooperative effort that has been established among Catholic religious orders and the Episcopal Diocese of Ohio. CHF’s mission is to provide financial and technical support for the building and rehabilitation of affordable housing for low-income households throughout the eight counties that make up the Catholic Diocese of Cleveland. The Cornerstone Housing Fund currently offers five loan products: pre-development loans, bridge loans, acquisition loans, construction loans and linked deposits. The maximum loan amount ranges from $25,000 to $100,000 depending on the specific product. All loans have a maximum term of one year. The interest rate on the loans is typically five percent. Loans may be secured or unsecured depending on the specific product and project.

Primary Funding Criteria:
- Projects must be located within the eight county service area, with a preference for underserved communities, and must produce quality housing that is affordable to households with incomes at or below 80 percent of the area median income.
- Sponsors must be a 501(c)(3) non-profit corporation with the capacity to carry out the proposed project.
- Borrowers may be the sponsor or an entity in which the sponsor holds a controlling interest.
- CHF financing must leverage other private and/or public funding and satisfy CHF’s underwriting guidelines.

Application Process:
CHF has contracted with the Cleveland office of The Enterprise Foundation to administer the loan fund. Interested non-profits should first call Enterprise to determine initial eligibility, upon which a loan application will be provided to the sponsor. A preliminary draft of the application from the sponsor will be due back to Enterprise five weeks prior to the scheduled CHF Loan Review Committee meeting. Enterprise will review the application for completeness, providing feedback to the sponsor, with a final application due three weeks prior to the meeting. The Loan Review Committee will meet on at least a quarterly basis.

For more information, call Jennifer Eppich at the Enterprise Foundation’s Cleveland office at 216/623-1331

(614) 280-1984 Voice
(614) 463-1060 Fax

cohhio@cohhio.org