Managing your National Disability Insurance Scheme (NDIS) funding to achieve a perfect spend is challenging. If you find yourself at the end of your plan with funding left over, here are three helpful things to know.
#1 Unspent funds won’t be transferred
Firstly, it’s important to know unspent funds won’t be rolled over from your current NDIS plan into your next one.
So, does that mean you should spend as much as you can while you can? Well, if you have time before your plan ends, there’s no reason why you shouldn’t access services and supports with your funding. But if you don’t have time, it’s a good idea to think about why funds were underspent in preparation for your next plan reassessment. Doing so will help you to make clear for your Local Area Coordinator (LAC) or NDIS planner what your reasonable and necessary needs are so your next plan supports you and your goals!
#2 There are common reasons why funds go unspent
Everyone’s individual circumstances are unique, but there are some common reasons why funding goes unspent. Do any of these apply to you?
- You were on a waitlist for support
- You were in poor health
- You experienced difficulty finding and accessing service providers
- COVID-19, floods or bushfires impacted your access to services and supports
- You weren’t sure what you could spend your funding on
Record the reasons why there are left over funds in your NDIS plan and share them with your LAC or planner. You might also find it helpful to use the My Plan Manager budget calculator to make a personalised budget to inform your plan reassessment. Your budget will show your LAC or planner what funding you require to meet your needs and achieve your goals when you have your supports, services and providers in place.
Your providers can also provide you with reports to share with your LAC or planner. The reports can detail any periods you were unable to access services, and what ongoing support they recommend and why.
#3 There are ways to avoid underspending next time
Engaging a support coordinator and a plan manager (like My Plan Manager!) can assist you to understand your plan, to find the right service providers and to keep on top of your budgets so you don’t underspend or overspend your funds next time. Consider talking to your LAC or planner about including funding for support coordination and plan management in your next plan, and learn more about what My Plan Manager can do for you here.