Where We Stand
At this moment of incredible opportunity, our city is faced with many challenges. From overcoming the historical inequities that have prevented families from accumulating wealth, to addressing crises of public health and education, the tasks and conversations ahead of us will not be easy.
But we will rise to meet them.
Financial Support for All St. Louisans
Since I took office in April of 2021, our Office of Financial Empowerment has added many programs and workshops to help St. Louisans improve their financial literacy and feel empowered on their financial journey. In 2023, the OFE conducted 38 workshops and served over 435 individuals, achieving significant outcomes such as credit score improvements and debt reduction. The OFE also administered programs like the Cities Addressing Fines & Fees Equitably (CAFFE) Cohort, which helped City of St. Louis residents with municipal charges related to not having insurance.
Additionally, the Treasurer’s Office facilitated the St. Louis Guaranteed Basic Income (GBI) program, providing direct cash payments of $500 to 540 eligible families for 18 months. This additional income will allow these families to do more to plan for their futures and not just be living paycheck to paycheck.
One of the things I am proudest of creating in my time as Treasurer is the Economic Justice Scorecard, a tool that will help ensure that St. Louis’s banking partners are serving the needs of our historically underbanked communities. This scorecard rates banking institutions and determines the extent to which the city does business with them moving forward, rewarding institutions that have a strong commitment to equity. Inequitable lending practices have typically kept people of color from buying homes, establishing credit, and advancing economically. This scorecard allows us to hold banks accountable and encourage them to create programs that move marginalized communities forward and reduce barriers for inclusion.
Empowering the Next Generation
As a former teacher and School Board Member, I have seen firsthand the need to strengthen relationships between our schools and our city government. I want the young people of St. Louis to be proud of where they’re from and want to stay here once they have grown up. That is why the Treasurer's Department has a number of programs to help students thrive and know that we are invested in them and their growth. Some examples- our College Kids program opens a savings account for every kindergartner in St. Louis Public Schools and seeds that account with $50 that the kids can grow through financial education lessons and then use for post-secondary education. This both incentivizes our students and their families to continue learning about financial literacy and helps them save for college, trade school, or entering the workforce after high school.
We also recently began a partnership with Edward Jones which set up a program for high schoolers to learn how to invest real money. Edward Jones advisors help guide the students, but they get to make decisions about their investment portfolios and learn about what it means to be a financial advisor. Throughout the year, we host many events for students and families, including Back to School events in the fall and Story Time with the Treasurer, where I go visit students in the classroom and have some fun reading to them and teaching them some basic lessons about money.
Smart Investments
As the Treasurer, I have worked hard to make sure St. Louis has the money it needs now and in the future. That means investing our money wisely and taking advantage of high interest rates. In the last three years, I have grown our municipal investment portfolio from $450 million to $760 million. I have also met with every city department to look at their individual budgets to see how resources can be used more effectively. I know that everyone is looking forward to using the Rams settlement money to make some improvements to our city, but until that time comes, I have that money in an interest-bearing savings account that has earned our city money that we can use in the years to come.