Maintaining a Contract Fund Package

A fund package groups multiple funding sources for one or more items in a cost estimate, project, or contract. It makes it easy to identify a single grouping that contains complete funding allocations for items. 

• Note: If you often use the same reference fund package as the default for contract adjustments, you can set the Default Contract Adjustment Indicator to the reference fund package so that it will always be marked as default when you add it to a cost estimate, project, or contract. You can set the Default Contract Adjustment Indicator for more than one fund package until you activate the contract.

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The component Actions menu has the following functions:

Select Attachments to manage attachments. The Attachments link includes the number of files attached to this record. See Working with Attachments.

Select Issues to manage tracked issues. See Maintaining Tracked Issue Information.

Select Links to manage links. See Working with Links.

Click the Save button when you are finished.

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The row Actions menu has the following functions: 

Select Delete to delete a record. Select the Undo button to reverse the delete action. Click the Save button.

Select Attachments to manage attachments. The Attachments link includes the number of files attached to this record. See Working with Attachments.

Select Links to manage links. See Working with Links.

Select Tracked Issues to manage tracked issues. See Maintaining Tracked Issue Information.

Click the Save button when you are finished.

By adding funds to a fund package, you are setting the funding sources and percent allocation for the fund package. Each funding source can be defined by percentage, limits, and priorities.

1. Click the Select Funds button.
   
   The system displays a modal window for adding funding.

2. Type criteria in the Quick Find search box that matches the fund you want to add or click Show first 10.
   
   The system lists all the funds that meet your search criteria.

3. Click the row for each fund you want to add to the package.
   
   The system adds a check to the left of the row to indicate it is selected.

4. Click the Add to Fund Package button.
   
   The system adds the selected funds to the fund package and closes the modal window. 

5. Enter additional information about the fund as needed.

6. When you are finished, click the Save button. 

Because funds may have dollar limitations, you can select more than one fund for fund packages to provide adequate funding for the project. To create a valid fund package that contains more than one fund:

• You must designate the order in which to use the funds. In the Priority field, type a 1 to indicate that the fund should be used first, type a 2 to indicate the fund that should be used second, and so on. 
  
  The priorities must be sequential, beginning with 1 and increased by an increment of 1. A fund may not have a priority of 0 or any negative number.

• If you need more than one fund to pay for one priority, you can assign the same priority to more than one fund. In this case, you must also indicate the percentage of the work each fund will pay. The percentages for all the funds for one priority must total 100.

• To ensure that the last priority fund pays for any excess not covered by limited funds from higher priorities, the fund for the last priority must be unlimited and at least one fund in each of the other priorities must have a limit. 

Example:
A group of items in a project has federal, state, and municipal funding. The municipal funding is limited to $5000. After the $5000 is used, the federal and state funds will split the remaining cost. The items would be assigned to fund package 1, which would have priority 1 funds for the federal, state, and municipal funds. The municipal fund would have the dollar limit set to $5000. There would also be priority 2 funds split between the federal and state funds only, with no dollar limits set.