Fund balances from the prior fiscal year-end are automatically consolidated and rolled into General Ledger PFOO account 100000-(FUND)-30001-ZZZZ for the start of a new fiscal year. Auxiliary and service centers, in order to calculate revenue versus associated expense, must request that the balances are moved back to the project for the new fiscal year. Requests to carry forward or roll over project balances from the prior fiscal year are due mid-October.
Request to Carry Forward or Roll Over Project Balances
Before You Start
Identify awards and their associated projects that have balances to be carried forward or rolled over. You must have access to OBI Financial Reporting and be able to run the Fund Statement report in the OBI Revenue and Fund Management Dashboard>Fund Statement Tab.
- Select the OBI Revenue and Fund Management Dashboard>Fund Statement Tab and run the Fund Statement Report for the funds of interest.
- For each fund, identify positive balances in Project 1000000, Object Code 30001.
All project balances related to Revenue and Expense Object Codes 40000-59999 are placed in 100000-(FUND)-30001-ZZZZ during the fiscal year-end close.
- Select Carry Forward/Project Rollover Balance Request to open the form.
- Save the file to your computer.
- Enter requestor information (name, department, phone number and extension, and email).
- List fund(s) to carry forward.
1. Systems and Reporting Operations (S&RO) does not accept requests to move specific project balances within an award or move partial balances.
2. You may request reclassifications, but only after the initial carry forward or rollover request is completed. This will be done by the Fund Accounting team and the request can be sent to Amanda Lopez-Lara (firstname.lastname@example.org) by Nov. 15.
- Copy your financial manager on the email request for signature authority.
- Email the request with attached form to: @email.
1. Submit requests no later than Oct. 15, or, if Oct. 15 falls on a weekend, the Friday before.
2. These transactions are recorded in a special general ledger reporting period named ADJB, which is opened in the new fiscal year before September to account for adjustments in preparation of the regular accounting year. This period is open only briefly before it is closed and SEP is opened to accept transactions. Requests made after the period has been closed will not be completed.
- S&RO creates appropriate journals to restore balances as of the end of the prior fiscal year (the one that just closed):
- Updated balances are reflected within each project for the fund under Object Code: 30001.
- The balances are entered into the beginning adjustment period of the new year: ADJB-200X.
- S&RO sends a spreadsheet to the client with the new balances within one week of submission.
- After the client checks new balances and determines a reclassification is needed, the client will contact Fund Accounting team. The request can be sent to Amanda Lopez-Lara (email@example.com) by Nov. 15.