Financial Stability
Strategic Plan Goal IV
Through the use of sound financial practices, diversify revenue sources and increase reserve allocations. Identify and pursue the best sources of funding for development projects.
STANCO is reliant on revenue from sources of governmental grants and funding. Revenue from governmental sources is increasingly more difficult to obtain due to changing economic conditions. Rigorous application requirements and increased competition for the grants present a challenge. Much of STANCO’s revenue is concentrated in one contractual relationship. In order to ensure economic viability, STANCO must diversify its projects and revenue sources, seek additional sources of revenue and continue to build reserve accounts.
Objective 1
Insure the long-term financial stability of STANCO.
Objective 2
Determine best sources of funding for STANCO projects. Position STANCO to be more competitive in grant application processes.