Budget Planning: Quarantining Funds in Australia

December 21, 2022myAutonomy NDIS

Minimise overspend by quarantining funds

Budgeting is an essential aspect of NDIS funding. This can ensure funds are allocated in the most effective ways. All to help participants thrive and meet their goals.

Quarantining funds is one useful tool to make the most out of your, or your participant’s funding.

How budgets are planned

Usually, at the beginning of the plan, a Support Coordinator meets with a participant. Together they’ll determine what services and supports will be most beneficial for the duration.

Those services and supports are specifically chosen to help a participant meet the goals outlined in their plan.

Service agreements, or schedules of support, are then developed and agreed upon by the provider and the participant.

Reasons to quarantine funds

Quarantining funds can ensure money is spent in ways that will best meet a participant’s goals.

The process helps reduce the chance of overspending in certain areas –– then not having enough to cover essentials down the line.

Support Coordinators may ask the plan provider to quarantine funds for agreed-upon services to protect that money –– reserving it for future service or support.

How to quarantine funds

If you want to reserve funds, it’s simple. Contact us and let us know:

The provider’s business name
The category you would like the funds reserved from
The amount to be reserved

If you ever need to update quarantined funds, we can do it quickly over the phone or by email. And releasing funds back into the general pool is just as easy.

Once quarantined funds are exhausted, myAutonomy will also alert Support Coordinators or participants to give them an update on funds.

This can ensure everyone stays on track and there are no surprises during the plan.