Tools and Strategies for Fiscal Sustainability

Transcription

1 Tools and Strategies for Fiscal Sustainability i3 Learning Community Meeting October 2, 2013

2 The Finance Project A specialized non-profit research, consulting, technical assistance and training firm TFP helps leaders make smart investment decisions and develop sound financing strategies

3 Eight Elements Vision and Results Sustainability Planning Process Developing a Vision and Results Orientation Strategic Financing Orientation Creating a Strategic Financing Plan Adaptability to changing conditions Broad base of community support Key champions Strong internal systems Developing Strategies for Building Organizational Capacity and Community Support Sustainability Plan Developing and Writing a Plan

4 i3 Elements Quality of Project Design- Logic Model Sustainability Planning Process Developing a Vision and Results Orientation Securing Match Creating a Strategic Financing Plan Quality of Management Plan Developing Strategies for Building Organizational Capacity and Community Support Project Evaluation Developing and Writing a Plan

5 Elements of a Financing Plan Clarify Financing for What? Estimate Fiscal Needs Map Current Funding Assess Gaps Identify Funding Sources and Financing Strategies

6 Clarify Financing for What? Scope of activities Scale of activities Assumptions regarding scaling or sustaining the innovation

7 (1) Strategies and activities that you want to sustain (2) What scale are we aiming to sustain? (for example: number of students served, level of effort, target population/expand, continue existing level, contract) Year 1 Year 2 Year 3 (3) Over what time do we want to sustain? Student Instruction Teacher Professional Development Technology Supportive Services Data and Evaluation 60 Students 100 Students 140 Students Continue expansion for five years, then stabilize 5 staff per school 3 staff per school 4 staff per school Staff development for all teachers in department year one, retraining and training new hires in future years. 18 computers 24 computers 30 computers Grow based on enrollment size Create parental engagement program Build new data system Continue parental engagement Continue development of data collection and analysis tools Continue parental engagement; add health services Continue Ongoing Ongoing

8 Estimate Fiscal Needs Program costs Infrastructure or intermediary costs Growth trajectory By strategy/activity

9 Year 1 Year 2 Year 3 Assumptions Example: Computers $15,000 $20,000 $25,000 One per staff member/ One for each 15 students. Will add 3 teachers and 40 students per year. Cost Estimates Staff Salaries Curriculum Development Materials and Supplies Costs Consultants Equipment Data Collection and Analysis Peer Learning and Continuous Improvement Evaluation Meetings Other:

10 Map Current Spending What are the current resources? Cash and in-kind resources How are the funds used? Are there restrictions? What is the available timeframe? Will matching funds be available after the end of the i3 grant period? How stable and reliable are the sources?

11 Strategies/ Activities Available Resources Source of Funding/ In-Kind Contributions Amount Restrictions on Uses of Funds Expected Timeframe Funding is Available Teacher Professional Development I3 grant $50,000 Available through 2015 Monthly invoices Continuous Quality Improvement XYZ Foundation $30,000 Computer hardware and software for distance learning Matching funds through year two.

12 Assess Spending Gaps Gap between current spending and projected fiscal needs: Strategy or activity Fiscal year

13 Strategies/ Activities Total Costs Year 1 Available Resources Gaps Total Costs Year 2 Available Resource s Gaps Total Costs Year 3 Available Resources Gaps Data Collection and Evaluation $260,000 $260,000 $0 $260,000 $260,000 $0 $260,000 $260,000 $0 Teacher Professional Development $40,000 $40,000 $0 $40,000 $40,000 $0 $40,000 $40,000 $0

14 Revenue Planning Tips Identify short- and long-term funding needs Gather information from multiple sources Use your network Develop an iterative process Create and monitor a Resource Development Pipeline

15 Financing Strategies 1. Making Better Use of Existing Resources 2. Maximizing Public Revenue 3. Building Partnerships 4. Creating More Flexibility in Existing Funding Streams 5. Creating New Revenue

16 Program Name Type of Program Source of Funding Average Grant Size Eligibility Requirements Funding History Striving Readers Discretionary Grant US DOE $25,000,000 LEAs and nonprofit organizations receive subgrants through SEAs FY09: $34M FY10: $10M Does it help diversify funding mix? Ability to leverage other funds? Barriers to use? Stability? Aligned with program s core mission? Priority to access? No No Priority to given to serving greatest number of disadvantage d children Funds have been stable and leveling off. Yes Yes

17 Resources TFP s Federal Funding Database: Learning to Read: A Guide to Federal Funding for Grade-Level Reading Proficiency Sustaining Community Revitalization: A Tool for Preparing Budgets for Promise Neighborhoods Initiatives Thinking Broadly: Financing Strategies for Youth Programs

18 Questions? Shawn Stelow Griffin Nalini Ravindranath The Finance Project.