Maintaining a Fund Package

In this Topic

Maintaining Funds in a Fund Package
Adding Funds to a Fund Package
Structuring Multiple Funds in a 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.

Cost estimates and projects may contain one or multiple fund packages. Each item in the cost estimate or project is assigned to a single fund package, which provides all the funding necessary for that item.

The Fund Package Summary component contains all the funding information currently recorded for the project, including its fund packages and associated funds. On this component you can add new fund packages and add and change the funds included in the fund packages.

To go to the Fund Package Summary, click the Fund Package Overview Quick link on the Project Summary component. Then select Open from the Actions menu on the appropriate fund package row.

On the Fund Package Summary component, you can display information for a different fund package by clicking the Fund Packages field on the subheader, and then selecting the fund package in the list. You can also scroll through all the fund packages using the arrow buttons on the right side of the subheader.

For the fund package selected in the subheader, the system displays the following fields:

Fund Package ID

Click in a field and add, change, or delete information as needed.

Click Save when you are finished to apply your changes to the system. The system displays a message to confirm that your changes were saved in the database.

Maintaining Funds in a Fund Package

The lower part of the Fund Package Summary component displays a rolling list of the funds in the selected fund package. Each row represents one fund record. Each row displays an Actions menu and current values for the fields listed below. To maintain a fund record, click anywhere in that fund's row. The system highlights the row in blue and displays information in labeled fields. You can view or change information in these fields:

Click in a field and add, change, or delete information as needed.

To remove a newly added fund from the fund package, click the Delete button on the fund row. The system deletes the row immediately.

To remove a saved fund from the fund package, select Delete from the Actions menu on the fund row. The system shades the row gray to indicate it is marked for deletion. To reverse the delete action, click the Undo button.

Click Save when you are finished. The system displays a message to confirm that your changes were saved in the database.

Adding Funds to a Fund Package

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.

Click the Select Funds button.

The system displays a modal window for adding funding.
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.
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.
Click the Add to Fund Package button.

The system adds the selected funds to the fund package and closes the modal window.
Enter additional information about the fund as needed.
When you are finished, click the Save button.

Structuring Multiple Funds in a Fund Package

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.