What are Individual Service Funds (ISFs)

An Individual Service Fund (ISF) is a good way of organising your personal budget if you can’t or don’t want to manage your own money. This can be done by a service provider.

Individual Service Funds will have the following common characteristics:

• the budget is held by the provider on behalf of the individual
• the support plan is the key driving document behind the provider/your relationship
• you are in control of how the money is spent.

Basically this means that an individual’s Personal Budget (or a proportion of that budget) will be lodged with the chosen provider. The support plan will dictate how the money is to be used - the outcomes which that individual wants to achieve and the means by which the chosen provider will support the individual to achieve those outcomes.

For further information follow the links below.