Carryforwards
Changes to Carryforwards
A new Carryforwards Procedure, which resides under the Operating Fund Planning and Budget Policy on UAPPOL, will come into effect on April 1, 2027 and will apply to fiscal year (FY) 2027-28. The procedure outlines how to manage carryforwards, on a go-forward basis, and provides clarity on how carryforwards are overseen, approved, allocated, reported on and what exceptions apply. Depending on the amount of carryforwards at the end of FY 2027-28, a new institutional carryforwards pool, a dedicated pool of funding for overarching U of A priority initiatives, will be established. Faculties and portfolios may apply to access this pool, if funding is available in the pool, starting with the FY 2028-29 annual budget process. To allow leaders plenty of lead time to understand how the new requirements apply to them, the procedure is available on UAPPOL now.
How will this impact me?
The Carryforwards Procedure is applicable to budget holders but is expected to be of greatest importance to deans, vice-presidents and finance partners.
Deans and vice-presidents need to be aware and fully versed on the new Carryforwards Procedure as there are substantial changes to how carryforwards are allocated, the rules governing these allocations and the new requirements for the institutional carryforward pool.
Faculties and portfolios will have the ability to apply to the new institutional carryforwards pool to achieve overarching institutional priority initiatives that may not be able to be accomplished by individual areas alone, in accordance with the procedure.