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Types of Budget

Types of Budget

General Info – County Hall

http://www.leics.gov.uk/index/social_services/asc_support/asc_general_info/asc_selfdirect_sup/asc_money_management.htm

Money Management - Self Directed Support

·    What is it

·    What are the differences?

·    Who will make sure the money is managed properly?

·    Contact information

·    Related links


What is it?

Many people choose to receive their Personal Budget as a cash payment, but there are different options for how the money can be managed.

1.A Cash Payment- also called a Direct Payment, this is where the money is paid straight into your Personal Budget bank account

2.A 3rd Party Cash Payment- also called a 3rd Party Direct Payment, this is where the money is paid to someone that you choose to help you, for example, a friend or relative, or an organisation that runs a payments service. Or you could choose to have the money sent to a support provider - this is called a Provider Managed Account

3.A Managed Budget- the Council will hold onto your money and buy your care and support for you

4.A Combinationof any of these three

In all of these options you will always know exactly how much money is in your Personal Budget and what it is being spent on.  You will be able to have as much control over the money and support as you want to.

Remember, we will need to work out if you will have to pay towards the cost of your Personal Budget, by doing a financial assessment.

What are the differences?

We have answered the main questions people ask us about money management options below.

   

Cash Payment

3rd Party Cash Payment

Managed Budget

Do I have a choice over who gives me my care or support?

Yes

Yes

Some choice

Do I have a choice of how and when I get my care or support?

Yes

Yes

Some choice

Can I change who gives me my care or support?

Yes

Yes

You might be able to, with support from the Council

Can I make changes to how and when I get my care or support?

Yes

Yes

You might be able to, with support from the Council

Am I in charge of managing my care and support?

Yes

Yes

No

Can I make changes to my support plan / outcomes?

Yes

Yes

Yes

Do I pay the costs of my care and support, out of my personal budget, direct to the support provider?

Yes

No

No

Do I have to have a separate bank account, just for my personal budget?

Yes

No

No

Where do I pay my contribution to?

Your separate bank account

Your 3rd party's bank account

Leicestershire County Council

Who will make sure the money is managed properly?

Your Personal Budget can only be spent on the outcomes that are agreed in your Support Plan.  If you choose to receive a cash payment, we will ask you to keep records, like invoices and receipts, of everything you spend your Personal Budget on.  We will check these when we meet with you to talk about how it's all going, usually once a year.

If there is evidence that the money is being misused, either against the rules in the cash payment agreement, or just through bad management, we will talk to you about how this will be dealt with.  This could include moving you to one of the other money management options.

Contact information

·    Contact us for help with money management.

·    Contact details for Adult Social Care

Related links

·    Money Management Options (Word Document, 54kb)

·    Real life stories about other people who are using self directed support

·    More information about self directed support

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