What is an Individual Service Fund?
An Individual Service Fund (ISF) is a way of handling your personal budget without being responsible for any money. Your budget is managed by an ISF provider, such as Cornerstone, but is used the way you want it to be.
- Your Personal Budget is managed on your behalf by a provider.
- You decide how the money will be spent, without the responsibility of managing a bank account.
- Providers commit to only spending your budget on care and support agreed in your support plan.
- Providers work to make the best use of your money and are directly accountable to you.
How can Cornerstone help you?
As an ISF provider, Cornerstone will help you by holding and managing your budget for you. We will:
- Hold the budget on your behalf.
- Ensure money is spent on your outcomes as agreed in your support plan.
- Be accountable for your budget by recording and reporting on all expendature.
- Be transparent with your budget and offering you explaination for services purchased.
- Fully explain the responsibilities of both the provider (Cornerstone) and the Client (you).
Want to find out more?
For more information about how Cornerstone can help you with an ISF or if you are interested our other services, please get in contact using any of the below options.