we need to enable budgetary control on a live instance , without impacting existing project

Summary:

we need to enable budgetary control on a live instance which is based on project budget and not GL,

Requirement is to enable BC for Projects without impacting existing project and project related transactions, please confirm if this is the right setup to enable to ensure only the new project type based project template crated and enabled for budgetary control projects will be part of fund check process and the existing projects which was created on non-enabled BC project templates will continue to transact without fund checks ?

especially unchecking "Enable budgetary control for all transaction sources and documents" and selecting "project " as Control budget filter