About Funding Sources (Closed Beta)

The Funding Sources tool is a centralized financial management solution designed to track project funding from its original source down to contract line items. It allows project owners to connect funding pools—such as grants, loans, bonds, and capital appropriations—directly to project contracts and subcontracts. This centralized tracking eliminates reliance on manual spreadsheets, streamlines audit compliance, and provides full oversight of financial balances across a portfolio.

The Funding Sources tool enables you to track capital, control fund distribution, and apply automated cost splitting rules across your portfolio through three primary capabilities:

• Fund Management: Create and maintain a centralized portfolio-level register of all funding sources. Set total funding amounts, control fund statuses, and track active balances across Allocated, Appropriated, and Committed categories.

• Project Allocation: Distribute portions of a central fund to specific projects before work begins. Provide project teams with real-time balance breakdowns and direct visibility into available capital.

• Funding Rules: Define percentage-based rules that automatically split costs across multiple sources for a given scope of work. Assign these rules directly to contract and commitment line items to automatically drive fund balances and ensure compliance.

At the company level, users can create and manage a complete register of portfolio funds:

• Total Amount: Set the initial total capacity for each funding pool.

• Project Allocations: Distribute specific portions of a fund to individual projects before spending begins.

• Real Time Balances: Monitor live balance changes across Allocated, Appropriated, and Committed statuses.

At the project level, funding rules control how project costs map back to origin pools:

• Percentage Cost Splits: Define rules that split line item amounts across one or multiple funding sources using exact percentage allocations.

• Schedule of Values (SOV) Integration: Apply rules directly to line items on Prime Contracts (to drive Appropriated balances) or Commitments and Change Orders (to drive Committed balances).

• Automatic Rollups: Balance updates roll up in real time to both project-level and company-level dashboards as soon as contracts are approved.

Access to the Funding Sources tool relies on Procore's permission model across two levels:

• Company Level: Managing funds and allocations requires 'Standard' or 'Admin' level permissions on the Company Level Funding Sources tool. Granular permissions can also be assigned to grant specific access, such as Create Funding Sources or Update Project Entitlements.

• Project Level: Assigning funding rules requires 'Standard' or 'Admin' level permissions on the Prime Contracts (or Funding Contracts) tool and Commitments tool, alongside granular permissions such as Create funding rules and Update funding rules on the schedule of values.