Overview
The Funds tab is a new section in your AwardSpring admin site that turns Funds into structured, manageable objects rather than labels. For the first time, you can create and manage Funds directly, link them to scholarships, add custom fields, and track balances, all from a single place.
Previously, Funds existed only as metadata attached to individual scholarships. Now they're a central object you can build your scholarship stewardship and reporting around.
Where to Find It
The Funds tab appears in the left navigation of your AwardSpring admin site. Select it to view your full list of Funds, create new ones, or open an existing Fund to manage its details.
Setting Up Funding Terms
Before your Fund can track financial activity over time, you'll need to create at least one Funding Term. A Funding Term is a defined date range—similar in concept to an Award Cycle—that segments a Fund's balance and transaction history into distinct periods (for example, by fiscal year or academic year).
Funding Terms are managed separately from Funds and must be set up in Settings before you can apply them.
How to Create a Funding Term
Go to Settings in the left navigation.
Select Award Cycles.
On the Cycles and Terms page, click the Funding Terms tab.
Click Create Term.
Enter a name and set the start and end dates for the term.
Save the Funding Term.
Repeat this process to create additional terms for other time periods. Terms are listed in descending date order.
Creating a Fund
To create a new Fund:
Navigate to the Funds tab in the left nav.
Click + Add New.
Fund ID is the only required field.
Save the Fund.
Linking Funds to Scholarships
Once a Fund exists, you can associate it with your scholarships. This creates a clear, visible connection between the funding source and the awards it supports.
To link a Fund to a scholarship, click the Scholarships tab and, under Details, enter the Fund ID.
Tracking Fund Balances
You can track financial activity against a Fund using credits and debits:
Scholarship awards automatically debit a Fund's balance when an award is processed, keeping your Fund balances current without manual entry.
Manual transactions can create or edit manual transactions directly on a Fund for cases like recording external deposits, adjustments, or corrections.
This gives your team a running picture of each Fund's activity over time.
Common Questions
Do I need to recreate Funds I've already been using?
If your team has entered Fund IDs on scholarships, those IDs will automatically populate once you create a funding term.
Will this change how my scholarships work?
No. Linking a Fund to a scholarship does not change the scholarship's application, review, or awarding process. It adds structure and visibility without disrupting existing workflows.
Who can see Funds?
Your admin permission settings control access. By default, site administrators can manage Funds.