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How are you handling the trickle-down effects of government dysfunction?
Hello NFC Peers!
A couple of weeks ago, we very narrowly avoided a US government shutdown, though it’s possible one still might be coming, particularly amid lingering congressional chaos. As many of you are likely all too aware, any type of government shutdown could have crippling financial effects on those organizations most dependent on federal funding (whether direct or pass-through).
Some of you, of course, will have been through these periods repeatedly, but others are new to government funding and they need your tips and strategies!
Given that, we want to hear your thoughts, plans and/or strategies for mitigating the effects of a shutdown. This might include some combination of the following:
· Accessing a loan or line of credit
· Checking in with your funding agencies
· Increasing additional fundraising
· Tapping into existing reserves
We want to hear from you! Tell us how you plan to manage this uncertainty and help your peers do the same.
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1 Reply
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We are keeping a close eye on cash flow, to be honest. Tapping into a line of credit can be a common fallback, although it is certainly not ideal. I think the key is maintaining open communication with funders and having a contingency plan ready. It is rather like keeping an umbrella handy even when the sun is shining. You may not need it, but you will be glad to have it when the weather turns.