Carryforward is used to track cumulative life to date cash (portion of fund balance) that relates to a restricted or dedicated program code from prior year financial activity.
A typical general fund program code is not eligible for carry forward.
Financial Management has made improvements to standardize and simplify the carryforward process and to improve visibility for cost center managers. This work will continue in Fy27.
Current focus is on consistently recording a two sided budget entry. Other improvements are planned to bring the ACTUAL balances into Workday.
When is carryforward recorded
Most ESTIMATED carry forwards are loaded with the initial budget load, then adjusted after hard close to match final results.
Budget YTD column on Budget vs. Actual reports reflects adjusted/current budget amounts.
Identifying budget from Carryforward
Carry forward entries are done as a two sided BUDGET entry. This will aid in carry forward visibility and future calculations.
- Revenue budget: i.e. 49940 Carryforward Reserved for Future Years
- Expense Budget:
- Typically have been loaded to 60999: Nonpersonnel Budget Only but may vary if a program has salaries or student worker related expenses.
- Im Fy27 expense budgets funded by carryforward are loaded in 61000: Discounts Taken...(while we await System Office creation of a ledger with appropriate name)
Any expense budget that exceeds the amount in Revenue budget: 49940 Carryforward Reserved for Future Years, is likely new funding for the current fiscal year.
Carryforward types and calculation
Most carryforwards are now calculated as
- Carryforward reserved for Future Years (in revenue budget) -- this is the accumulated net revenue, typically over the life of the program code
- PLUS current year actual revenue
- MINUS current year actual expense
This video explains more: VIDEO: Carryforwards in Workday
This process would be used for most situations including:
- Special Appropriation or Earned Revenue (COLLABS, Mental Health funding, JDA, IT COE, customized training programs (Fund FD0038), and others)
- Tech fee (cumulative life to date from FY19 forward, 218500 and 218550)
- Other dedicated funds (example Veteran Certification funding)
Below are other carryforward examples that we will be working to standardize during Fy26 and into Fy27
- IFO and MSUAASF Professional Development and Professional Improvement Funds (historically based on unspent BUDGET - cumulative life to date; Accounting procedures will be changing to transfer cash to these worktags so they can maintain their balance more similar to other PG worktags.
- Multi-year Facilities projects (Current BUDGET less Commitments/Obligations less YTD ACTUAL expense)
- Other / Ad hoc are rare and require CFO approval.