- Unrestricted funds can only be carried forward if they are in a positive status. Funds will be carried forward and re-appropriated in July, Fiscal Year 2017-18, in each departmental account.
- Campus departments will not be required to take any action during fiscal closing to carry forward these funds, with the exception of awards that may require carry forward approval by the sponsoring unit.
- All unrestricted funds are required to be in a solvent condition at fiscal year-end.
- Specific or Restricted Fund (Donations, Grants, Special State Appropriations, Government Contracts, etc.) balances may or may not be carried forward into the new fiscal year, based on certain factors:
- Whether the period of availability, as stipulated by the funding source, extends into the new fiscal year, and
- Whether the terms under which the funds were given permit carryforward.
- Contracts and Grants Accounting will provide departments with a list of overdrafts in May and in June (based on April and May ledger respectively). Departments are responsible for clearing overdrafts for all awards that are not expected to continue. If additional funds are expected, departments should obtain a request for pre-award spending (RAS), http://www.research.uci.edu/sponsored-projects/contracts-grants-admin/pre-award-admin/pre-award-spending.html.
Private contracts ONLY, fund range 57100-59993: overdrafts not cleared on June ledger will be zeroed out by accountingso that the fiscal year can be closed. These entries will reverse on July ledger, and the overdraft will be reinstated.
- Gift Fund - accounts without current activities and with small balances should be reviewed by departments and closed out.
- Endowment Fund balances will be carried forward and re-appropriated in July, Fiscal Year 2017-18. Funds are required to be in a solvent condition at fiscal year-end.
Carrying Forward Small Balances
To reduce the administrative burden of reviewing and carrying forward small balances, we ask that departments expend these balances with legitimate charges before year-end.