Austin Participates In Bloomberg Philanthropies Program

AUSTIN, TX — Austin has been named one of 30 cities that will participate in a Bloomberg Philanthropies program helping local governments confront budget pressures while promoting to equity in the wake of the coronavirus spread.

The What Works Cities’ City Budgeting for Equity and Recovery program is designed to help cities develop and implement plans to drive financial recovery in a way that safeguards low-income residents and communities of color, city officials explained in an advisory.

“The City of Austin has placed equity at the heart of our fiscal response to COVID-19, by prioritizing grants and loans to those who need it most,” the city's Deputy Chief Financial Officer Ed Van Eenoo said in a prepared statement. “We look forward to teaming up with Bloomberg Philanthropies and the 29 other participating cities in using the latest data, trusted expertise, and peer input to build on our progress and make sure our recovery works for everyone.”

Launched by Bloomberg Philanthropies in 2015, What Works Cities is one of the largest-ever philanthropic efforts to enhance cities’ use of data and evidence to solve big problems, according to the advisory. Through the City Budgeting for Equity and Recovery program, it will support mayors, chief financial officers, and budget directors to use data-driven best practices as they continue to manage their pandemic responses, the statement reads.

The program will cover challenges most pressing to city financial leaders including:

• Understanding, accessing and spending COVID relief funds;
• financing that enables strong budget health;
• increasing revenues in a way that doesn’t disproportionately impact low-income families; and
• incorporating an equity analysis into major budget decisions.

Program participants will receive guidance from finance experts in the public, private, and academic sectors, engage with their peers in interactive workshops, and receive customized support and technical assistance, valued at over $100,000 per city, officials said What Works Cities will share the learnings and resources developed during the program publicly to ensure that cities everywhere are able to apply them to their local budgeting process, officials added.

“Cities across the country are facing an unprecedented fiscal crisis, Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies, and 108th mayor of New York City, said in a prepared statement. "Revenues are down, demand for services is up, there is uncertainty about what support cities will receive from the federal government, and there are urgent needs around racial equity. Through this new initiative, we will offer municipal leaders tools to help them navigate the crisis, setting a path more cities can follow as they develop their own recovery plans.”

About Bloomberg Philanthropies

Bloomberg Philanthropies invests in more than 570 cities and over 160 countries around the world to ensure better, longer lives for the greatest number of people. The organization focuses on five key areas for creating lasting change: the Arts, Education, Environment, Government Innovation and Public Health. Bloomberg Philanthropies encompasses all of Michael R. Bloomberg’s giving, including his foundation and personal philanthropy as well as Bloomberg Associates, a pro bono consultancy that works in cities around the world. In 2019, Bloomberg Philanthropies distributed $3.3 billion.

For more information, visit bloomberg.org or follow on Facebook, Instagram, YouTube, Twitter, and TikTok.