module iii: creating a strategic financing plan cheri hayes consultant to nebraska lifespan respite...

Module III: Creating aStrategic Financing Plan

Cheri HayesConsultant to Nebraska Lifespan Respite

Statewide Sustainability WorkshopJune 23-24, 2015

© 2011 The Finance Project. Used under license.

Module III:Creating a Strategic Financing Plan

Goals To identify the range of fiscal resources needed

to achieve your sustainability goals for your afterschool program, and

To develop strategies to access those sources

Tools: Fiscal Worksheets


Developing a Strategic Financing Plan

1. Clarify “Financing for What?”

2. Estimate Fiscal Needs

3. Map Current Funding

4. Assess Gaps

5. Identify Funding Sources and Financing Strategies


Strategic Financing Steps and Tools


Step Tool or Activity

1 Clarify “Financing for What?” Module II, Step 4 –

Scale and Scope

2 Estimate Fiscal Needs Cost estimation exercise

3 Map Current FundingModule III, Worksheet 2 - Identify Current Resources

4 Assess GapsModule III, Worksheet 3 - Assess Your Funding Gaps

5Identify Funding Sources and Financing Strategies

Revenue planning exercise

1. Clarifying “Financing for What?”

Information needed:

Scope of supports and services (e.g. population, geographic area, types of Lifespan Respite information resources and services, quality standard)

Scale of supports and services (number of family caregivers served, number of local organizations and agencies participating as partners)

Ramp-up Assumptions (if you are expanding, over what period of time? With what benchmarks?)


1. Clarifying “Financing for What? - Example


(1)Strategies and activities that you want to sustain

(2)What scale are we aiming to sustain?

(for example: number of local agencies/organizations gathering data on respite needs and available information

resources and services)

(3)Over what time do we want to

sustain?

Year 1 Year 2 Year 3

Improve/strengthen local data collection

10% increase over FY 2015

baseline

10% increase over FY 2016

level

10 % increase over FY2017

level

Continue expansion for five years, then stabilize

Program Administration/Coordination (Site Coordinator) .25 staff .5 staff .75 staff Grow based on need

Technology 1 computer 1 computer 2 computers Grow based on need

Data and Evaluation

Build on state level pilot and AoA evaluation requirements

Continue development of data collection and analysis tools

Continue Ongoing

2. Estimating Fiscal Needs

Information needed: Program costs: both start-up and ongoing

operating costs Infrastructure costs Ramp-up assumptions: how are costs

distributed By strategy/activity; by local Network; by

partner organizations and agencies


2. Cost Estimates - ExampleYear 1 Year 2 Year 3 Assumptions

Example: Local Lifespan Respite Network Functions

$150,000 $200,000 $250,000

Partnership development

Data collection/analysis

Outreach to culturally diverse families

Program/service coordination

Recruitment of volunteer respite providers

Training and technical assistance

Materials development and distribution

Administration and management

3. Map Current Funding

Information needed:

What are current sources of funding (both cash and in-kind)?

How are these funds used?

Are they restricted?

Over what timeframe are they available?

How stable and reliable are these sources?

By strategy/activity; by partner organization/agency; by fiscal year; by functional line item, if applicable


3. Identify Current Resources – Example

Strategies/ActivitiesSource of Funding/

In-Kind Contributions Amount

Restrictions on Uses of Funds

Expected Timeframe Funding is Available

Improve/develop Local Lifespan Respite Network infrastructure

• AoA grant to Nebraska

• State appropriation

Available for all core planning, coordination, partnership development, information/outreach, data collection/analysis and management activities of local networks

Years 1-3

Early Childhood Family Caregiver Support

• NE Maternal, Infant and Early Childhood Home Visiting Program

• Private foundation

$50,000Earmarked for home visitors

Through year two.

4. Assess the Spending Gaps

Information needed: What’s the gap between current spending and projected fiscal needs?

By strategy/activity By partner organization By line item By fiscal year


5. Identify Funding Sources

Suggested process:Clarify what you need and whenReview current funding mixGet more information about funding sourcesDetermine what funding sources are most appropriate


Clarify What You Need; When

Based on gap analysis, review short-term and long-term needs

Differentiate between one-time fiscal needs (start-up, capital investments) and on-going operating needs

Match short-term needs to short-term strategies; long-term needs to longer-term strategies


Review Current Funding Mix

How many funding sources? Public vs. Private: What percentage , if

any, is from private sector (over and above per pupil revenue)? What percentage of support comes from other public sources?

Stability: Percentage of support that is time-limited (1 to 3 years)

Reliability: Do you have any funding sources at risk of being cut or reduced?


Get More Information about Potential Funding Sources

Core support sources – ongoing support or support specifically for your Local Lifespan Respite Network

Targeted sources – ongoing support for family members with specific disabilities or chronic conditions

Program component and time-limited funding (e.g. specific, targeted investments)


Review Funding Sources and Determine Most Appropriate

Health and Human Services Americorps Disability Aging Early Childhood Other Public/Tribal Private


Potential Funding Sources

Federal funding through the Administration on Aging, Maternal and Child Health, Part C Early Intervention Funds, Medicaid administrative claiming, Americorps volunteers

State-level program funding

Private foundations

Universities, civic groups, disability advocacy groups

Individual contributions/community fundraising

Business income


Brainstorm

Are there other disability and health funding sources that you know of that might provide support for your school?

Who are the decision makers who administer child and adult disability and funding in your community?

How can you engage them in supporting your local respite information and program services?


Brainstorm

Consider the private resource options discussed and identify those that you think hold the most potential for supporting your Lifespan Respite program?

Who would you need to engage to access these sources?

How can you engage them in supporting your outreach, information and direct services programs?


Exercise 5: Revenue Planning


Program Name

3.

Type of Program

4.

Source of Funding

5. Average Grant Size

6. Eligibility Require-ments

8. Funding History

11.

Does it help diversify funding mix?

12.

Ability to leverage other funds?

13. Barriers to use?

15. Stability?

16. Aligned with school’s core mission?

17. Priority to access?

Tips for the Revenue Planning Process

Identify both short and long-term funding needs

Gather information from multiple sources Don’t have to collect all program

information to make a decision Iterative process Monitor and update the plan Track grant applications Stay updated on new funding opportunities


Next Steps

Determine what information you need to collect

Determine what you can prepare ahead of time

Begin initial research Identify other resources and support for this

work


module iii: creating a strategic financing plan cheri hayes consultant to nebraska lifespan respite...

Documents