Funds
A fund is a sum of money designated for a specific purpose, such as education, library development, or construction projects. Examples include an educational fund, a library fund, or a building fund.
To know how a fund is utilized you can link it to one or more budgets. This allows for a detailed overview of expenditures across different areas. For instance, if an organization allocates a fund to build a new wing at a university, multiple budgets might be involved, such as:
• Budget for raw materials
• Budget for employee salaries
The fund manager should have a proper overview of how the funds are being used.
Subfunds can be created under a main fund. However, the time scope of a subfund must fall within the time scope of its main fund.
Funds can have the following statuses:
• Initial
• Active
• Closed
You can also add other intermediate statuses, if required.
Once a fund transitions from the Initial to the Active status, the fund amount becomes fixed and cannot be changed. Any modification can be done in Budget categories > Fund modification.
Once a fund transitions from the Initial to the Active status, the fund amount becomes fixed and cannot be changed. Any modification can be done in Budget categories > Fund modification.
All changes made to funds are registered as part of the fund's history.
 | A fund can only be deleted in the initial status. If funds are involved in Fund transfer or Fund change processes, they cannot be deleted. |