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Administrator Guide
Last Updated: 2023-06-23
Example: Create Sponsored Funds

Example: Create Sponsored Funds

This example illustrates how to create a sponsored fund so you can recognize revenue and bill the sponsor for your award.
You want to create a fund in Alma Mater University (USA) that's:
  • Paid for by the sponsor.
  • Not restricted to specific types of expense.
You want to assign
Matthew Fong
 as the fund manager so he can manage and report on the fund.
Security:
Set Up: Fund
 domain in the Common Financial Management functional area.
  1. Create a sponsor-funded and unrestricted fund type:
    1. Access the
      Create Fund Type
       task.
    2. Enter these values:
      Field
      Value
      Fund Type Name
      Unrestricted Sponsored Type
      Fund Type ID
      15
      Fund Restriction
      Unrestricted
      Funded By
      Sponsor
    3. Select the
      Include Fund Type ID in Name
       check box to make your fund type name more easily distinguishable from other fund types.
    4. Click
      OK
       and
      Done
      .
  2. Create a fund using the fund type that you created:
    1. Access the
      Create Fund
       task.
    2. Enter these values:
      Field
      Value
      Fund Name
      Unrestricted Sponsored Fund
      Fund ID
      15
      Fund Type
      15 Unrestricted Sponsored Type
    3. Select the
      Include Fund ID in Name
       check box.
    4. In the
      Assign Roles
       section, add these values to the row:
      Field
      Value
      Role
      Fund Manager
      Assigned To
      Matthew Fong
    5. Click
      OK
       and
      Done
      .
You can now add the sponsored fund as a worktag to your spend transactions, or as a related worktag to your award grants. Associating sponsored funds with award-related spend transactions enables you to bill the sponsor for your award spending.