Configure Settings: Funding

Objective

To update the configuration settings on the project's Funding tool.

Background

When setting up a Procore project, a user with 'Admin' level permissions on the Funding tool configures the tool's settings. The settings are applied globally to all of the fundings in the project:

• Funding Configuration. Define the number of change order tiers for the project. This grants users with 'Standard' level permissions on the Funding tool the privilege to create potential change orders. You can also choose to make a Schedule of Values (SOV) editable (or not) when its in the 'Approved' status.
• Default Distributions. Choose which project users should receive email notifications.
• Funding Sources. List the project's funding sources. A funding source can include federal, state, and local funds, bonds, grants, tax revenue, loans, programs, and more.

You can also set up customized settings to apply to each funding in the project. To learn more, see Edit the Advanced Settings on a Funding.

Things to Consider

• Required User Permissions:
  • 'Admin' level permissions on the project's Funding tool.
• Additional Information:
  • There are other settings you can configure on an individual funding. See Edit the Advanced Settings on a Funding.

Prerequisites

• Set the number of change order tiers on the project. See What are the different change order tier settings in Project Financials?

Steps

1. Navigate to the project's Funding tool.
2. Click the Configure Settings icon.
3. Under Contract Configuration, do the following:
   
   1. Number of Funding Change Order Tiers
      Select one (1) option from the drop-down list to define how change orders are managed on the project:

      Important

      This setting cannot be changed after the first change order is created on the project.
      • 1. A one (1) tier change order configuration requires users to create only funding change orders. See Create a Funding Change Order.
      • 2. A two (2) tier change order configuration gives users the ability to Create a Potential Change Order that can then be grouped into a single funding change order and sent to a user for approval. This is the default setting for Procore projects.

         Note

        A three (3) tier change order configuration is also available. To learn more, see What are the different change order tier settings in Project Financials?
   2. Allow Standard Level Users to Create FCOs
      Place a mark in this checkbox to grant users with 'Standard' permissions the ability to create a PCO on the Change Orders tab of a funding.
      Note: If you clear the mark from the checkbox, only users with 'Admin' permission can create a PCO using the Change Orders tab of a funding.
   3. Enable Always Editable Schedule of Values
      Mark this checkbox to provide users with editing permissions the ability to add, update, and remove line items from the SOV when the funding is in any status. Clear the mark to restrict users from editing the schedule of values. To learn more, see What is the 'Enable Always Editable Schedule of Values' setting?
4. Under Funding Dates, users who have been granted 'Admin' level permissions on the company's Admin tool can click the Contract Fieldsets page in the Company Admin Tool link in the BLUE informational banner pictured below.
   

   Note

   The 'Funding Dates' section has been moved to the 'Fieldsets' tab in Company level Admin tool. To learn how to create fieldsets, see Create New Configurable Fieldsets.
5. Under Default Distributions, select a person from each drop-down list.
   • Funding. Select default distributions to be included in communication regarding the funding. This can be people who need to review the funding before it is approved.
   • Funding Change Order (FCO). Select default distributions to be included in communication regarding FCOs.
   • Funding Change Order Request (COR). Select default distributions to be included in communication regarding CORs.
   • Funding Potential Change Order (PCO). Select default distributions to be included in communication regarding PCOs.
6. Click Update.
7. Under Funding Sources, create a list of funding sources for your project. A funding source can include federal, state, and local funds, bonds, grants, tax revenue, loans, programs, and more. See Create Fundings.
   
   
   1. Name. Enter the name of a funding source in the box.
   2. Description. Enter a description of the funding source in the box.
   3. Click the plus (+) sign to add the line item.
8. Click Update.

Next Step

• Create Fundings

See Also

• What are the different change order tier settings in Project Financials?
• Edit the Advanced Settings on a Funding