Maintaining a Fund Package in a Cost Estimate

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 Cost Estimate Fund Package Summary component contains all the funding information recorded for the fund package, 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.

Note: When a cost estimate is associated with a:
- Proposal or project, the cost estimate follows the workflow for that proposal or project. You can view, add, or edit cost estimates associated with a proposal or project if your system administrator has provided workflow phase rights to your user role.
- Proposal, any cost estimates for projects associated with the proposal are automatically set to inactive.

To access the Cost Estimate Fund Package Summary component, click the Fund Package Overview quick link on the Cost Estimate Summary component. Locate the fund package, then select Open from the row Actions menu.

To display information for a different fund package, click the Cost Estimate Fund Packages field on the subheader, and select the fund package from the list, or use the arrow buttons on the right side of the subheader to scroll through all the fund packages for this cost estimate.

You can view or change information in these fields:

The row Actions menu has the following functions:

Actions

Select Delete to delete a fund package record. Select the Undo button to reverse the delete action. Click the Save button when you are finished.

Views

Select Attachments to manage attachments in a fund package record. See Working with Attachments.

Select Links to manage links in a fund package record. See Working with Links.

Select Tracked Issues to manage tracked issues for a fund package record. See Maintaining Tracked Issue Information.

Click the Save button when you are finished.

Adding a Cost Estimate Fund Package Based on Reference Data

Fund packages can be pre-defined as reference data. When you create a new fund package by selecting a reference fund package, all of the funds listed in the reference fund package are copied to the new fund package for the cost estimate, project, or contract. See Maintaining Reference Fund Package Information.

To create one or more fund packages based on reference fund packages, follow these steps:

On the Fund Package Overview, click the Select Fund Packages button.

The system displays a modal window for selecting reference fund packages.
Click the row for the reference fund package you want to use to create a new fund package.

A check mark appears at the beginning of the row to indicate it is selected. You can click a row again to clear the selection.
Continue selecting reference fund packages as needed.
When you are finished, click the Add Fund Package button.

The system closes the modal window and adds the fund packages to the list on the Fund Package Overview.

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.