Financial Stability Goals 

Goal A.  Improving employment opportunities by eleminating barriers to employment and reducing costs associated with employment.

Issue:  While the current unemployment rate in this area is comparatively low, many families are underemployed, underinsured, or uninsured.  The median household income is $46,360.  The average annual wage is $33,850.  The self-sufficiency standard for a family of 4 is about $45,102 - $50,723, indicating that as many as 50% of families are at or below the self-sufficiency standard.  An adult supporting two children must earn at least $18.24 per hour if one child is in child care.  Two adults supporting two children must each earn $10.68 per hour if one child is in child care.  Many companies report open positions, particularly in manufacturing, with their greatest challenge being wages, lack of appropriate skills, and failure to pass drug screenings.

Outcome:  Individuals find and maintain sustaining employment.

Goal B.  Protection of Assets (Individuals and families protect their home, life, and property).

Issue:  The American Red Cross reports that as many as 95% of fire victims are renters, most of whom hold no renter's insurance.  Renter's insurance can be purchased for as little as $100 per year.  The median value of homes is $114,100.  The average value of all new housing units built is $177,211.  The average family of four can afford a rent or house payment of no more than $726 per month.  Median rent is $487.  Most low-income housing for families is available only in central Butler County (Butler City).

Outcome:  Families and individuals are better prepared for crises and disasters, find and maintain affordable housing, and protect the value of their assets.

Goal C.  Financial Education and Literacy.

Issue:  The IRS reports that at least $13 million was lost to Butler County residents in 2005 because they failed to capture the Earned Income and/or Child Tax Credits, paid a tax preparer when they were eligible for free tax preparation, or paid for a Refund Anticipation Loan.  In 2006, 26% of all households fell behind in utility bills and 16% fell behind in rent or mortgage payments.  The number of utility shut-offs has more than doubled in the last five years.

Outcome:  Individuals and families are better able to manage their finances and debt.

Members of the Financial Stability Impact Council include:

Carol Achezinski, NexTier Bank, Chairman; Lori Altman, County of Butler; Patrick Coulson, Community Development Corporation; Amber Crowe, Center for Community Resources; Jack Beiler, Retired, Mellon Bank; Rev. Randall Forester, St. Paul's Community Church; Pam Grabe, Mental Health Association; Jody Knights, American Red Cross; and Barb Shaffer, United Way of Butler County.