Managing Scholarship with 2 sources of fund

Klysicia Young

We have a few scholarships that are state-matched to privately funded dollars. Does anyone have accounts with 2 buckets, and how do you manage it in BAM?

Right now, our first solution is to create 2 different portfolios for each bucket of funds. Do anyone have a better solution?

Arly Douglass

@Klysicia Young We run into this problem for many of our scholarships. There is no ideal solution in my opinion. Because Award Management is forward facing for the student users, we didn't think it would be helpful to enter two portfolios for the same scholarship, which would only confuse the student who doesn't really need to know that there are 2 funding sources. It would have made the system real messy and required double work, to some degree, to keep track of 2 portfolios for the same scholarship. So, we add all possible funding sources in the Project ID field (or whatever field you currently use for fund sources). When our colleges export the fund disbursement report to send to our financial aid office, they have to manually alter the excel spreadsheet and identify how much money is coming from fund 1 and how much is coming from fund 2. Again, not ideal but this was the best work around for us. I really wish there was an option in AM for us to enter multiple funding sources and delineate how much is coming from each source.