About Financing Plans
Developing a strategic financing plan involves estimating the fiscal resources needed to sustain initiatives, mapping current resources that support initiatives, identifying gaps in funding and analyzing a range of funding sources and financing strategies to meet fiscal needs. Effective financing plans include the formal process of developing a plan as well as the informal and non-fiscal strategies and resources that statewide afterschool networks use to support their work.
- At least eight statewide afterschool networks have completed formal strategic financing plans.
- Strategic financing plans help networks to match the best possible funding opportunities to the best possible uses for that funding.
- Certain expenses lend themselves more to one type of financing source or strategy than another.
Strategies to Support Financing Plans
- Clarify “financing for what.”
- Estimate fiscal needs.
- Map current funding.
- Assess funding gaps.
Identify and prioritize funding sources to meet your needs.