At YPM, we understand that managing your NDIS funding can be overwhelming. That’s why we’ve put together a guide to help you read your budget report and ensure your funding lasts the length of your plan. Here are some tips:
- Review the DAYS REMAINING in plan at the top of the table – this is a percentage %
- Review the last column under BALANCE (%) – this will indicate the % remaining of your funding.
- If the balance % is less than the Days remaining % you are projected to overspend.
- If the balance % is more than the Days remaining % you are projected to underspend.
- If the balance % is equal or close to the Days remaining % you are on track with your spending.
If you’re projected to overspend, here are some things you can do:
- Talk to your Support Coordinator or LAC
- Revisit your supports and make adjustments as required
- Contact the NDIS as you may need to look at a plan review for additional funding
If you’re projected to underspend, here are some steps you can take:
- Ensure your providers are submitting invoices shortly after the service is provided to ensure amounts are current and up-to-date
- Talk to your Support Coordinator or LAC
- Ensure your current supports are meeting your needs. You may be able to increase services for a short time to meet increased needs.
Additional Tip:
- Core funding is split between 3-4 categories, so add the lines and divide by the number of lines to get average % for Core.
- Capacity Building Improved Life Choices is Plan Management fees.
By following these tips, you can ensure that you are staying on track with your NDIS funding and making the most out of your plan. Don’t hesitate to reach out to your Support Coordinator or LAC for further guidance and support.
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