Individual Financial Contingency Planning
Temporary Assistance is the temporary help for the needy women, men, and children. If one is cannot find a job or the job is not providing enough, and unable to work, temporary assistance ill help in paying the expenses. There are two types of Temporary Assistance programs: Family Assistance (FA) and Safety Net Assistance (SNA). Family Assistance is the provision of cash assistance to the needy families, which include minor children living with their parents or caretaker relatives. According to Family Assistance, qualified adults are limited to receive the assistance for a period of sixty months in their lifetime (Gitman & Joehnk, 2007, p. 21). Once this time has expired, not all the family members are legible to receive family assistance and other benefits. Parents and other adults who have been receiving Family Assistance must comply with the requirements of the fed in order to receive the benefits.
If one is ineligible for any other assistance programs, he/she may qualify for the Safety Net Assistance (SNA). SNA is designed for families identified to be abusing drugs and single adults. It is also helpful to people who have exceeded sixty-month limit assistance, childless couples, and children who are living apart without any adult relative. People receiving SNA and are determined to be able to work should follow work requirements to enjoy SNA benefits. SNA benefits can be received for a maximum of two years in a lifetime. The compensation will not be provided in cash form but as a voucher or two party checks after the expiry of the SNA period and one is eligible to receive the SNA. Funding assets is a single mutual fund, which attempts to fulfill the goals of allocating assets all by itself. Such a fund will invest in various securities with different asset classes. Its main purpose is to provide investors with truly consistent and diversified holdings returns.
Public-private partnership is a business venture where the government operates and funds come together with one or more private sector (Cumming, 2012, p. 63). In the case of Temporary assistance, the government and private sectors will raise some funds together to be used in the programs. This is a good source of funds or revenue for adults or children for them to earn a living. This is because they are not refundable and does not call for any interest after being given. Individuals will feel free to apply for the funds so long as they qualify. The program managers of Temporary assistance will get funds from the public private partners for them to assist individuals who depend on them. Public-private partners sponsor organizations like Temporary Assistance without charging any interest or demanding security when distributing funds. Public-private partnerships will not stop assisting the community residents because after the expiry of a given time, the assisted individuals succeed in their life.
Public-private partners will also assist in funding the Temporary Assistance programs through the distribution of assets. The assets will be issued to the needy residents to use the assets for a given time of which they will have acquired the knowledge and resources to depend on themselves. The two parties on the assets issues of the public-private partners, and they do not demand any income from the assets (Gitman & Joehnk, 2007, p. 52). Their goal is to see the community residents being able to depend on themselves after the time specified for assistance expires.
Nonprofits are financial institutions offering various services like funding of individuals and companies, which cannot raise capital. They do not struggle to make a profit but to see the funded organizations and individuals succeed in their objectives and goals. Mostly they fund the organizations, which are there to assist the community in providing various services to the needy. These services include health care services, schools, farming, and even seminars to train the community residents (Lane & Lane, 2008, p. 99).
Temporary Assistance is an organization funded by non-profit making institutions that assist a community. This is because they do not require any income or profit from the assisted individuals or group of people. Public-private partners will fund the Temporary Assistance through various ways like issuing cash or giving assets to the organization to assist individuals. They can issue cash to the organization where they will use in assisting the needy in the community. Temporary Assistance will make sure that the needy adults or children get the needs like food, education, clothing, and shelter....
Key challenge in any contingency planning and risk assessment process is to generate and maintain commitment and participation in the process from senior decision-makers and those at the working level within organizations, keeping the process dynamic and up-to-date is another key challenge, too often contingency plans and risk assessment processes have been 'consigned to the shelf' after the initial planning has been completed. Therefore to be truly effective, contingency planning
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