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 Fy26.
Carryforward into Fy26
Some FY25 to Fy26 ESTIMATED carry forwards were loaded with Fy26 budgets.
As of 10/21/25, Financial Management is in process of calculating and recording or adjusting carryforwards into Fy26, using final Fy25 revenue and expenses.
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: 49940 Carryforward Reserved for Future Years
- Expense Budget: Typically loaded to Nonpersonnel but may vary by program
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
- IFO and MSUAASF Professional Development and Professional Improvement Funds (based on unspent BUDGET - cumulative life to date)
- Multi-year Facilities projects (Current BUDGET less Commitments/Obligations less YTD ACTUAL expense)
- Revenue Funds Student Center and Parking are in separate funds. However, we are considering carryforward to make cash for operations vs deferred maintenance more visible.
- Other / Ad hoc are rare; typically for a specific expense item or one time revenue less any expenses spent against it in current year. These require CFO approval and will be rare.
- Fiduciary example: Black Men Healing, Mass Incarceration, Mn State IT Conference 2024
- One time example: Career fair revenue not spent in current year