Program Disbursement Cycles
Program disbursement cycles refer to the systematic schedule according to which funds or benefits are distributed to a program. The disbursement refers to the payment typically done according to a predetermined schedule or criteria.
A program must have allocated funds and posted before the disbursement schedule can be divided into multiple cycles, each has its own distinct start and end dates. These cycles are established and activated based on the requirement to allocate the funds within the program. This allows for the systematic release of funds over time.
Program funds
Program funds refer to the total allocated amount for a particular program, intended to be distributed among the beneficiaries. Initially, the funds allocated to the program need to be added. The allocation of funds depends on the program's requirements and guidelines
Cycles
In the OpenG2P platform, cycles are created to facilitate the disbursement of benefits in multiple installments. This enables the organized and effective distribution of benefits in programs where payments are made in installments over a specified period, like unemployment benefits, pensions, and scholarships.
Components of program disbursement cycles
Duration: Each cycle has a specific start and end date, defining the period during which disbursements are made.
Frequency: Disbursements can be made on a regular basis, such as monthly, quarterly, or annually, depending on the program's design.
Amount: The amount to be disbursed in each cycle is predetermined and may vary based on the program's rules and the recipient's eligibility.
Beneficiary: Manage the list of beneficiaries eligible for the current cycle, including adding new beneficiaries, updating beneficiary information, and removing ineligible beneficiaries. To know more click here
Status: The status of the cycle, including whether it has been started, in progress, or completed, is tracked and updated.
Cycle Manager
Cycle Managers, on the other hand, are responsible for managing the individual cycles within the program, ensuring that disbursements are executed according to schedule and in compliance with program guidelines.
In the OpenG2P platform, the Cycle Managers provide capabilities to oversee and execute specific activities within the program cycles. These activities include:
Cycle setup: Define and configure parameters for each cycle within the program, such as start and end dates, eligibility criteria, and disbursement amounts.
Cycle monitoring: Track the progress and performance of the cycle, ensuring that disbursements are made according to the defined schedule and criteria.
Disbursement execution: Execute the disbursement process for the current cycle, ensuring that payments are made to eligible beneficiaries in a timely and accurate manner.
Related user guides
📔Create Cycle Manager for a Program
📔Configure Cycle Manager
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