What is the role of the Funding Source field on client activity records and which one do I choose?

Role of Funding Sources in WebCATS

Economic development programs are usually funded by grants or contracts that require them to report back measurable results to their sources of funding. For example, most SBDCs and WBCs are primarily funded by the SBA while most PTACs are primarily funded by the DLA. However, some programs receive funding from multiple sources and may need to categorize their activities accordingly in order to accurately report back to their various funding partners. The Funding Source field found in WebCATS' client activity records allows them to easily accomplish that task.

Additionally, the SBA and DLA funding source options trigger unique system behaviors in WebCATS. Both the SBA and the DLA have specific data reporting requirements that must be adhered to. When either SBA or DLA is notated as the funding source for client activity, WebCATS recognizes and enforces those requirements.

Choosing a Funding Source

With an understanding of the role of the Funding Source field as defined above, choosing the correct funding source in WebCATS should be a less confusing task. The key thing to remember is that the funding source entered for a particular activity should indicate where the funding for your center is coming from.

The primary area where we have seen users make mistakes when designating funding source is in the completion of investment and award records. Investment records track capital that is obtained for us in a client's business and award records track government contracts awarded to a client. Because both of these client activity record types track funds that are being provided by an entity, WebCATS users sometimes misinterpret the purpose of the Funding Source field, erroneously assuming that it's related to the entity providing the investment capital or government contract when it's actually meant to track your center's funding for the investment or award assistance provided.

To reiterate, the Funding Source field should reflect the center's source of funding that allows them to provide the assistance they are bringing to the client, not the source of funds that the client might be receiving. The Investment Type and Institution fields found on an investment record, not the Funding Source field, should be used to track a client's source of funds for capital infusion into the business. Similarly, the Agency Name and Agency Type fields found on an award record should be used to track the source of the government contract.

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