NUPlans Carry Forward View

This article is a summary of this year’s carry forward, an analysis of current year performance, and a prediction of next year’s beginning and ending carry forward.

NUPlans Carry Forward View

The Carry Forward view presents a summary of this year’s carry forward, an analysis of current year performance, and a prediction of next year’s beginning and ending carry forward. The Carry Forward view works with automatic balancing, which applies to 171, Gift, and Endowment chart strings in all areas, and which applies to all chart strings in areas that opt-in to automatic balancing.

The view enables you to see and do the following:

·         See current year beginning carry forward, budget, and forecasts

·         Predict the performance this year of all chart strings in your budget group (performance adjustment)

·         Predict beginning carry forward for the next fiscal year, based on the current year performance adjustment

·         Where automatic balancing applies, predict ending carry forward for the next fiscal year, based on next year’s budget input

·         If your Area plans the use of carry forward for deficit funding, see amounts and explanatory comments about the use of reserves.

Predictions of carry forward are informational only. They are as valid as the forecast and budget input. They are not imported into NUFinancials. Next year’s beginning carry forward is determined in NUFinancials after year-end close and rolled by NUFinancials into next year’s budget.

 

Contents

Upon completion of this guide, you should be able to:

·         Define the columns and calculations of the Carry Forward view

·         Find beginning and ending carry forward for the next fiscal year

·         Find the cumulative use or buildup of reserves

·         Find a definition and example of the (Use) or Buildup of Reserves

·         Find examples of the Carry Forward view before and during budgeting

Who has access?

The NUPlans Carry Forward view is available to budget group members with the access below.

General – Access to budget input for fund tabs, carry forward tab, and the ability to add chart strings and/or change chart string status

Planner – Access to budget input for fund views and the carry forward views

Prep File – Includes all other roles except Salary – Confidential; intended for users who have responsibility for submitting the budget for their entire prep file area

 

Access related training materials in myHR Learn: NUPlans Fund Budgeting curriculum.


Carry Forward View

The Carry Forward view summarizes the effects of performance and budgeting on carry forward.

·         The Carry Forward view has a row for every fund and base chart string in the budget grouping. For each department, program, or project, amounts are summarized or calculated at right.

·         The first column displays current year carry forward (not shown). The next set of columns (not shown) summarizes current year performance. Performance culminates in next year’s beginning carry forward (left). Where automatic balancing applies, the view displays the use or buildup of reserves due to budget inputs (middle), which culminates in next year’s ending carry forward (right).

·         In the example below, automatic balancing applies to the Endowment chart strings, so ending carry forward takes reserves into account.

image.jpg

Snapshot of the Carry Forward view with the first three columns on display.


Columns

The columns of the Carry Forward view are defined below in order from left to right.

 

Column Name

Type

Definition

FYXX Beginning CFWD

Imported

This column displays the carry forward amount at the beginning of the current fiscal year for the chart string on account 79999. The amount is imported from NUFinancials.

FYXX Original Bud - Rev

Expanded

Imported

The current year revenue budget data are imported from NUFinancials and displayed to provide context for next year’s budget decisions.

FYXX N/R Adj - Rev

Expanded

Imported

The amount of any non-recurring revenue adjustment made in the current year.

FYXX Recurr Adj - Rev

Expanded

Imported

The amount of any recurring revenue adjustment made in the current year.

FYXX Bud – Rev

Calculated

The current year revenue budget, including any adjustments. Click the handle (+/-) to expand or collapse the column.

FYXX Original Bud - Exp

Expanded

Imported

The current year expense budget data are imported from NUFinancials and displayed to provide context for next year’s budget decisions.

FYXX N/R Adj - Exp

Expanded

Imported

The amount of any non-recurring expense adjustment made in the current year.

FYXX Recurr Adj - Exp

Expanded

Imported

The amount of any recurring expense adjustment made in the current year.

FYXX Bud – Exp

Calculated

The current year expense budget, including any adjustments. Click the handle (+/-) to expand or collapse the column.

FYXX Forecast – Rev

Imported

Total forecasted revenue for the chartstring.

FYXX Forecast – Exp

Imported

Total forecasted expenses for the chartstring.

FYXX Performance - Rev

Calculated

This column reflects year-to-date revenue performance for the current year.

It is the difference between the total forecasted revenue and the total revenue budget for the chart string.

X= “FYXX Forecast Rev” – “FYXX Bud Rev”

FYXX Performance - Exp

Calculated

This column reflects year-to-date expense performance for the current year.

It is the difference between the total expense budget and the total forecasted expenses for the chart string.

X= “FYXX Bud Exp” – “FYXX Forecast Exp”

FYXX Beginning CWFD

Expanded

Imported

Current Fiscal Year Beginning Carry Forward total for the chart string.

FYXX Performance

Expanded

Calculated

This column reflects year-to-date total performance for the current year. It is the sum of revenue and expense performance for the chart string. X = “Performance Rev” + “Performance Exp”

FYXX Beginning CFWD

Calculated

This column predicts your beginning carry forward (on account 79999) for the next fiscal year, based on this year’s beginning carry forward and this year’s performance.

X = “FYXX Beginning CFWD” + “FYXX Performance”

FYXX (Use) or Buildup of Reserves – Net

Calculated

This column summarizes the effect of budget input on accounts 88991 and 88992, the accounts used for automatic balancing.

·         Where automatic balancing (A/B) applies, a total of all amounts associated with accounts 88991 and 88992 appears. A/B applies to Funds 171, Gift, and Endowment.

·         Where automatic balancing does not apply, zero appears in the column.

This number updates dynamically as you enter budget estimates in the “FYXX Bud Input” columns of the Fund views.

FYXX End CFWD

Calculated

This column predicts your ending carry forward (on account 79999) for the next fiscal year, based on next year’s beginning carry forward and next year’s use or buildup of reserves.

 

 

X = “FYXX Beginning CFWD” + “FYXX (Use) or Buildup of Reserves – Net.”

·         Where automatic balancing applies, you get a prediction of ending carry forward.

·         Where automatic balancing does not apply, ending equals beginning carry forward, because nothing (0) is associated with accounts 88991 or 88992.

Comments

Input

Enter comments to explain budgeting decisions or outcomes.

Status

Display only

The status of the chart string, whether active, do not budget, or inactive.

Fund, Dept, Project

Display only

Chartfield values are repeated for export to Excel.

 

image.jpg

Snapshot of the Carry Forward view with three of the final columns on display: FYXX Beginning CFWD, FYXX (Use) or Buildup of Reserves, and FYXX End CFWD

 

Carry Forward View Example – Before Budgeting

Before budget preparation, you can see your beginning financial position on the Carry Forward view. The examples below show departmental and project chart strings in the 110, 171, 160, and 172 funds.

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·         This particular budget grouping has a beginning carry forward surplus in the current year of 1,688,722 (Total Funds).

·         In “FYXX (Use) or Buildup of Reserves – Net”, only the Endowment chart strings (not shown) are contributing to a buildup of reserves, because they use automatic balancing and estimated income is pre-entered by the Budget Office. The 1,176,874 reflects a calculated buildup of reserves.


Carry Forward View Example – During Budgeting

During budget preparation, you can return to Carry Forward view to see changes in the financial position calculated dynamically. In the example below, automatic balancing is applied to all chart strings, therefore the use or buildup of reserves is calculated.

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The example above shows the same budget group as shown on the previous page, after some budgeting has taken place. Amounts change dynamically as you enter forecasts and budgets in the various Fund views.

  • Next year’s beginning carry forward “FYXX Beginning CFWD” is 1,768,601.
  • After entering next year’s budget, NUPlans starts tracking your use of reserves in “FYXX (Use) or Buildup of Reserves – Net.” Fund 110 is currently shown as building up reserves – 90,538. Fund 160 does not use or buildup reserves (0). Funds 171 and 172 show that no budgeting has taken place yet, or that additional budgeting may take place.

Taking the (use) or buildup or reserves into account, a picture also emerges of ending carry forward. “FYXX End CFWD” = 1,705,838.



For additional assistance please contact the IT Support Center at 847-491-4357 (1-HELP) option 7, or consultant@northwestern.edu.




Keywords:NUPlans, "Carry Forward", "Forward View"   Doc ID:118024
Owner:ESAF GL Team .Group:Northwestern
Created:2022-04-15 18:27 CDTUpdated:2022-04-18 12:29 CDT
Sites:Northwestern
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