Carry forward is used to track cumulative life to date cash available to certain programs that are allocated or earn revenue. A typical general fund program code is not eligible for carry forward.
Most FY24 to FY25 carry forwards have been entered into Workday, a few Customized Training carry forwards are still in progress. The delay is a combination of learning curve/establishing process, Workday capabilities, and ensuring past transaction issues are understood and addressed. Communication with cost center managers about carry forward will improve as the process stabilizes
Some FY25 to Fy26 ESTIMATED carry forwards were loaded with Fy26 budgets but are not considered final until late August, after Fy25 hard close.
Types of carry forwards (and basic calculation)
- Special Appropriation or Earned Revenue (Based on ACTUAL Revenue less ACTUAL expenses - cumulative life to date)
- Example COLLABS, Mental Health funding, JDA, IT COE, and others
- IFO and MSUAASF Professional Development and Professional Improvement Funds (based on unspent BUDGET)
- Multi-year Facilities projects (Current BUDGET less Commitments/Obligations less YTD ACTUAL expense; Budget Amendment required to make budget visible in eBuilder)
- Tech fee (Based on ACTUAL Revenue less ACTUAL expenses - cumulative life to date from FY19 forward)
- 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
- Fiduciary example: Black Men Healing, Mass Incarceration, Mn State IT Conference 2024
- One time example: Career fair revenue not spent in current year; NOTE: This type requires CFO approval and will be rare - Carry forward increases our budget for the new year and essentially uses fund balance.
In Workday, carry forward entries are being 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
More detailed documentation is underway summer 2025 and will be added here as it develops.