The Carry Forward Process
- Always occurs within Fiscal Period 2 of each fiscal year to account for ending balances from the prior fiscal year.
- August 13, 2021 - Excel spreadsheets showing the residual balances from the previous fiscal year by FOPAL, will be sent to the Level 3 Responsibility Unit partner via Microsoft Office 365 OneDrive.
- Budget partners have 2-3 weeks to move or allocate their Carry Forward balances.
- August 30, 2021 - Completed spreadsheets will be returned via OneDrive or by email to BRP for review and processing.
- Carry Forward balances are uploaded into Banner prior to close of Fiscal Period 2.
For questions about the process contact your BRP analyst-RU partner.
What is Carry Forward and how is it calculated?
Carry Forward is an annual process in which budgets are adjusted in August (Fiscal Period 2) of each year to account for ending balances from the prior fiscal year. For example, a fund that ended FY18 with a positive residual balance of $10,000 would have a carry forward of the same amount in FY19, and this balance would be available to be spent in FY19. Negative residual balances are carried forward as well. The Carry Forward process is interactive and provides units on campus the opportunity to distribute or re-allocate their carry forward balances to different Index's or FOPAL so long as it stays within the same fund and organizaitonal level 3.
Carry Forward is calculated as the balance on the Operating Ledger (FWIBUDG) adjusted for the balance on the General Ledger (FGITBAL). Not all fund types are part of the Carry Forward process.
Carry Forward Calculations
Are there specific Carry Forward Account Codes?
We often use specific account codes to distinguish carry forward from other items within our budgets. Beginning in FY19, we now have multiple account codes that allow us to go one step further and distinguish the types of Carry Forward from one another.
- 9Bxxx: The "9B" account codes are the original account codes established for Carry Forward. They are often used to help budget managers identify what portion of their current fiscal year budget is made up of Carry Forward from the prior year. This is the default account code used during the Carry Forward process. Budget for this series of accounts should always be positive.
- 9C000: The "9C" account code is intended to identify a current year budget deficit or surplus. Income generating funds often project revenue that does not necessarily balance to their projected expenses. A "9C" acts as a placeholder for the difference between the two within the current year. Budget for this account may be positive or negative. For example, a fund projecting $10,000 in revenue, but only $8,000 in expenses, could use a "9C" account to balance the residual $2,000 and earmark it as a surplus.
- 9X000: The "9X" account code is used to identify budget reductions. Budget for this account should always be negative.
- 9Y000: The "9Y" account code is used to distinguish carry forward that is designated for some form of faculty spending. Budget for this account should always be positive. For example, if a faculty member on campus has not spent the entirety of their startup funds by the end of a given fiscal year, a budget manager can allocate those funds to a "9Y" account code to distinguish those funds from other types of Carry Forward, and have better reporting on the balance left over specifically for that faculty member's start up.
Is there an example of the Carry Forward spreadsheet?
Yes. Instructions on how to use the spreadsheet can be found in the top-left corner of the sheet.
Carry Forward Spreadsheet Example