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Carryforward is used to track cumulative life to date cash that relates to a dedicated program code.
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 cash balances into Workday at the program level for improved reporting and visibility.
When is carryforward recorded?
Most ESTIMATED carry forwards are loaded with the initial budget load, then adjusted after hard close (after mid August) to match final results.
Budget YTD column on Budget vs. Actual reports reflects adjusted/current budget amounts. (NOTE: these adjustments are often made late fall, once we know System Office is done making prior year adjustments).
Identifying budget from Carryforward
Carry forward entries are done as a two sided BUDGET entry to aid in visibility and future calculations.
- Revenue budget: 49930:Carryforward for Prior Year Commitments
- Expense Budget:
- Typically have been loaded to 60999: Nonpersonnel Budget Only but may vary if a program has salaries or student worker related expenses.
- In 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 (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 - and other dedicated worktags that get funding from General fund NonDedicated revenues
- Historically based on unspent BUDGET - cumulative life to date
- Accounting procedures have changed to transfer cash to these worktags so they can maintain their balance more similar to other PG worktags.
- NOTE: On Budget vs Actual reports, it may appear that the worktag has $0 expense budget, but please expand rows so you can differentiate between the Transfer In and the actual Nonpersonnel Expense budget. (We have submitted a ticket to System Office asking to move Transfer In back to being a Revenue account to alleviate this issue).
- Multi-year Facilities projects (Current BUDGET less ACTUAL expense)
- Because Facilities PROJECT worktags track their funding in eBuilder by project not fiscal year -- carryforward budget entries need to reduce budget of the year that was just closed, and increase the new fiscal year budget (net $0 integration to eBuilder, but accurate FY budget in Workday).
- Other / Ad hoc are rare and require CFO approval.