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Introduction
Financial Stability means you have the resources (financial and non-financial) to cover your program and other organizational expenses. To determine your stability, you will need to:
- Use a formula to determine the true unit cost of your services.
- Determine the true dollar value of your services to your community and charge accordingly.
- Establish a strong data tracking and financial recordkeeping system and assign a qualified individual to oversee the data.
- Constantly be on the lookout for potential new revenue sources.
- Diversify – diversify – diversify. The more diverse your funding sources, the more protected you are when one or more sources are no longer available.
This module will help you develop a Financial Stability Plan that maximizes your resources and minimizes your outlay.
