03 Aug
Understanding your NDIS funding

Understanding your NDIS funding

Now that you’ve developed an NDIS plan, it’s time to start putting it into action. But where to start? Read on for the breakdown of your support budget and how you can gain the most from your funding.

What’s the difference between the budgets?

When you receive your confirmed plan, you will be allocated certain amounts of funding. The amount of funding depends on the goals you highlighted within your plan.

They fall under the following three categories:

Core

These are supports that allow you to complete everyday tasks and work towards your specific goals. There are four categories:

  • Daily activities
  • Consumables
  • Social and community participation
  • Transport (only for NDIA, Plan Management, or self managed plans)

You’re free to allocate as much of your Core budget funding to these categories as you like. However, this funding cannot be used for supports outside of the Core budget.

Capital

This funding goes towards investments, like assistive technologies and home/vehicle modifications. For further details about assistive technology, read here and here.

Some things to remember:

  • This funding can only be used for what it is specifically allocated in your plan
  • Funding covers any assessment, delivery, installation, adjustment, and maintenance costs

Capacity Building

In this category, supports are designed to develop the participant’s skills and independence. There are 9 categories and each align to a goal you’ve identified in your plan.

They include:

  • Finding and Keeping a Job
  • Improved Health & Wellbeing
  • Increased Social & Community Participation

To help you reach your individual goals, you can allocate funding within each category to any support that helps you achieve that goal.

You can also adjust the funding amount later down the track to better suit your progress. However, you cannot combine funding across multiple categories.

Stated funding

And finally – any funding labelled as ‘Stated’ needs to be spent in the way it’s set out in the plan and not on other supports.

Coordinating your supports

It can be a daunting task to manage all your separate funds and providers alone.

If you need advice or assistance in managing your budget, we’re ready to help you out. We’ll ensure you get the maximum benefit from your allocated funding, and help you explore the right combination of supports to suit your lifestyle.

And if our range of supports doesn’t suit you, we’ll help you find ones that do.


Get started today by contacting Teresa Allen at (08) 9445 6525! Read more information about the NDIS with these articles.

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