Funding Validation is how funding gets rounded so there are not fractions of pennies as dollars are split across multiple splits and sources. Funding validation is done automatically, but users have the option to see where the funding was rounded and make adjustments should they need to do so.
Funding validation and updates occur:
When new funding is added
When funding sources, splits, or item funding is updated or removed
When the contract is awarded
When payments are added
Estimated Validation: This allows the user to create reports and see funding breakdown using item unit prices from the Engineer’s Estimates.
Found in the Contract Menu>Funding>Estimated Validation. Any rounding will be hi-lighted and will identify the value rounded.
Awarded Validation: This allows the user to create reports and see funding breakdown using item unit prices from the winning contractor.
Found in the Contract Menu>Funding>Awarded Validation. Any rounding will be hi-lighted and will identify the value rounded.
Payment Validation: This allows the user to create reports/documents and view funding breakdown for payments.
Found in the Contract Menu>Payments>Payment Details. Any rounding will be hi-lighted and will identify the value rounded.