2016-17 Balances Carried Forward On Aug. 17

Published August 25, 2017

The 2016-17 State Operating and U-Wide Type 1 available balances are being carried forward to 2017-18 on Aug 17.

Who's Affected

All State Operating and U-Wide Type 1 account holders.

Process

  • Open encumbrance balances were cleared from accounts.
  • The free balance carried forward to 2017-18 was rounded based on the total free balance for the account.
  • The carry forward balance from fiscal 2016-17 was posted to the same account which generated the free balance.
  • State Operating carry forward amounts posted as an adjustment to your 2017-18 Fiscal Allocation utilizing expenditure code (OEC) 6000 (Reserves).
  • U-Wide Type 1 carry forward amounts will posted as an Other Than Personal Service (OTPS) expenditure credit (or expenditure if there was a negative balance) in 2017-18.
  • A final carry forward adjustment will be processed in October to account for any residual activity.

Outcome

The 2017-18 free balance in your State Operating and U-Wide Type 1 accounts includes the carry forward amounts from 2016-17.   

Actions To Take

  • Review your accounts on the SIRI Money dashboard to ensure that all balances are as you expect.
  • You may also wish to process budget revisions using the eBudget system to move this fiscal allocation to the account and OEC code where the funds will be utilized.

Contact An Expert

Deborah Schmigiel

State Accounting and Financial Reporting

Financial Management

Phone: 716-645-2635

Email: ds84@buffalo.edu