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American Recovery and Reinvestment Act (ARRA) Individual Fund Tracking (IFT)

The Individual Fund Tracking (IFT) module has functions that allow managers and administrative staff to create and manage providers, schedule and track the services provided by different providers, and track the payments made for services provided by each funding source. Managers can work with individual training accounts (ITAs), and perform cost tracking functions. IFT is a tracking system for service and training costs with functionality that can support specialized ARRA needs.

The system uses an interface for data entry as it relates to Individual Training Accounts and/or support services provided. The data-driven forms dynamically align with the IFT system module, allowing financial tracking with real-time availability of funds and expenditures. Staff enters applicable information in the system and then produces vouchers, payments, refunds, or print documents related to individuals or providers. The IFT software solution offers an Internet delivery method to streamline the allocation and tracking of funds and expenditures.

The available components of the IFT Software are:

  • Individual Training and Service Accounts
  • Providers
  • Courses and Services Management
  • Administration
  • Training Referrals
  • Vouchers and Voucher Approval
  • Contract Management
  • Fundstream Allocation

The Virtual OneStop Individual Fund Tracking System has standard allocation fields that can be modified to meet specific client requirements. Data elements include Funding Source, Start Date, End Date, Allocated Amount, Obligations, Balance (difference between allocated amount and obligations), Current Year Expenditures, and Comments.

The Virtual OneStop Individual Fund Tracking module contains functions for tracking and reporting On-the-Job Training amounts and Training and Support Services, as well as WIA and other program funded training obligations. The referral form or voucher forms can be printed upon completion. These forms can be used as an invoicing tool.

The Individual Training Account feature contains functions that allow staff to establish an ITA and set maximum limits for the individual's training amounts.

Staff may review and track Individual Training Accounts within the Case Management Profile in the Programs/Intensive Services Training Registration area. When eligible individuals are registered for Training and/or Support Services, staff can enter and fund the service appropriately through selections from drop-down lists in the system. Vouchers can be created for service payment, and refunds from paid vouchers can be entered if necessary.

By reviewing the individual's Case Management Profile, staff can determine the dates and amounts budgeted for the individual's services. The staff member can view these costs and planned expenditures related to each service.

The Manage Provider Tracking option lets staff administer documents such as training referrals, support service vouchers, and payments. When staff enrolls an individual into services in the Registration/Activity Form, a drop-down list is available for selection of the service type. The service type is then recorded.

Staff will select the document type available for this training provider and the appropriate form for data entry displays. The Training Referrals feature lets staff manage financial aspects of referrals entered in the system. Other functions are also available, consistent with data entry for the referral, payment, and voucher choices.

Additionally, an online refund form is available if overpayment is made or staff needs to request a training provider service refund.

The Registration/Activity Records create a Voucher History section which the appropriate staff can access through Manage Client Vouchers and review outstanding vouchers and paid vouchers.

The Virtual OneStop IFT Management component allows staff members to have the appropriate privileges to view, modify and edit budgets and client enrollments at different region, one-stop or individual levels. To provide a sense of the flexibility in the Virtual OneStop IFT component, and the "cascading tree" format used in many areas of IFT (so that information can be minimized and maximized to allow easy review) the following figures show examples for how budget review reports can be created from the Region Fund Management category of IFT Management.

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