Carry Forward Policy
Effective 12/12/08 - Change in Carryforward Policy: To encourage departments to save for the future, we are changing budget policy to allow all unexpended operating pool funds to be carried forward into the next fiscal year. This change applies only to fund centers currently capped at carryforwards of 30% of the original budget. A revised carryforward policy (replacing the one below) incorporating this change will be published next year.Automatic Carry Forward Policy
The Automatic Carry Forward Policy will be applied to account balances (both negative and positive) remaining after the year-end closing process is complete.
All unrestricted budget units are eligible except for those units listed on the following "Units Exempt from Automatic Carry Forward" list.
The Automatic Carry Forward Policy will be applied based upon the following provisions:
- Outstanding encumbrances for goods or services not received by June 30th, will be liquidated, re-coded, and charged automatically to the new year budget.
- The balance subject to carry forward is limited to the unencumbered balance remaining after all encumbrances have been liquidated.
- The unencumbered balance up to a maximum of 30% of the original operating/capital pool will be carried forward automatically.
- The allowable balance will be carried forward only into the account which generates the balance.
The head of a major area may request a reallocation of such carry forward balances during the year.
All credit balances should be resolved by June 30th. If there are remaining credit balances after the year-end process is complete, they will be carried forward in total in the account that generated the credit balance. Unit administrator must provide in writing the plan to fund credit balances carried forward and what steps have been taken to prevent credit balances.
Special Carry Forward Requests
Any unit not covered by the Automatic Carry Forward Policy may submit a Special Carry Forward Request through the respective vice president.
A budget unit covered by the Automatic Carry Forward Policy may request to carry forward balances in excess of the maximums established by the policy.
Units Exempt From Automatic Carry Forward
Any carry forward of funds for the units listed below will need to be requested as a Special Carry Forward:
All Units without an Original Budget
Faculty Research Grants
All Scholarship and Tuition Waiver Units
All Mandatory Transfer Units
All Non-mandatory Transfer Units
SAP
210040020 Central Stores-Furniture
232005012 Telecommunications Service
293010001 Central Control-Instruction
293045001 Central Control-Academic
293050001 Central Control-Student Support
293060001 Central Allocation Reserve
293060010 Legal Service Institutional Expense
293060030 Staff Benefits
293060040 General Institutional Expense
293060070 General Insurance
293070001 Central Control O&M
293070010 Utilities
295010010 Debt Service-Principal & Interest
295010015 Debt Service-Parking Garage
295010025 Debt Service-Parking Deck
295045003 Student Union Building
295045009 Land Acquisition FY 00-02
