How to Move Unused Spending Balances on Funds to New Fiscal Year
- 06 Jan 2023
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How to Move Unused Spending Balances on Funds to New Fiscal Year
- Updated on 06 Jan 2023
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We do not sweep out unused available to spend balances at the beginning of the new year, rather we keep anything not spent from the previous year and move that to the new year and then add new available to spend for the new fiscal year, how can we move unused balances to the new year?
Answer:
To carry over unused available to spend balances to the new year you would do the spending policy calculations which would add to the amount carried over from the previous year:
Spending Policy Calculations
You would of course have to run the end of year process to move existng fund balances to new fiscal year and then once you run the spending policy calculation it will add the new amounts to the amounts that were carried over from the previous year.
Spending Policy Calculations
You would of course have to run the end of year process to move existng fund balances to new fiscal year and then once you run the spending policy calculation it will add the new amounts to the amounts that were carried over from the previous year.
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