WILMINGTON, Del. — Figures released by Wilmington officials show that just $500 has been spent on financial literacy despite a pledge by the city treasurer to use an $8,000 discretionary fund to focus on that area.
The News Journal newspaper reports that from June through September, only one of the 13 grants awarded by the Wilmington treasurer’s office has been related to financial literacy. That $500 grant was given to the Delaware Financial Literacy Institute.
The newspaper reported that when Treasurer Velda Jones-Potter requested the discretionary fund during the budget process, she said the $8,000 would be used to support financial literacy in the city.
Jones-Potter said this week that her new fund was not intended to be used exclusively for finance-related programs.