Policy on Online Revenue Share Funds Carryforward

I. Purpose

To establish a campus procedure for managing carryforward balances in Online Revenue Share accounts. This procedure applies to business managers with Signature Authority for miscellaneous accounts.

II. DEFINITIONS

Carryforward balances (or “carryforward funds”) are unexpended balances at the end of the fiscal year as described in ACA-031. For revenue share accounts these balances are calculated as: current year budget appropriation and prior year balances less expenditures.

Online Revenue Share Funds (ORSF) are derived from net tuition revenue generated through online instructional activity such as online course registrations.

III. Policy

Online Revenue Share Funds that are not used “In-Year” may be carried forward, but they are subject to an approved spending plan. (Use of ORSF “In-Year” is specified in Policy ACA-043.)

IV. Procedures

In general, carryforward funds will be managed as part of a multi-year budget planning process coordinated by the Offices of the Provost and the CFO.

All requests for carryforward budgets must follow the carryforward procedures outlined below.

1. Preliminary carry forward amounts are known at the end of the fiscal year. Carryforward
   allocation calculations will be sent to each unit by the Budget Office by April 15th. Unexpected
   adjustments to finalize a year may impact the availability of carryforward.
2. Colleges/Schools/Divisions (Units) will submit carryforward requests to the Provost office by
   June 1st for the subsequent fiscal year. Units that are reserving funds for major outlays
   (renovations, equipment, etc.) in future periods may be required to document a multi-year
   spending plan in writing to be approved by the Provost.
3. Requests to use the carryforward funds for operational expenses must be approved by the
   Provost.
4. The carry forward requests that are approved by the Provost, will be forwarded to the Budget
   Office by June 30th.
   DocuSign Envelope ID: 0771B566-CAC0-45C2-BCDC-FB3B411EA6BB
5. If an expense exceeds the planned amount and there are additional carryforward funds available, those funds may be used by the Provost to offset the excess. If additional funds are not available, the spending plan will need to be adjusted or approved to continue with the overage being deducted from the following year’s unit budget allocation.
6. The Provost and CFO may monitor spending of carryforward funds for potential impact on overall University financial standing.

V. Responsibility

Academic Affairs: Provost and Budget & Finance: CFO

VI. Policy changes

The Division of Academic Affairs and the Division of Budget & Finance will review this procedure every five years or sooner.