It is the practice in Academic Affairs to allow each College to retain carry forward. This practice allows the Dean greater authority and flexibility in achieving internal goals and objectives for the unit. The only exception to this general practice is funding allocated for special purposes and projects. In these instances, any remaining funds at the end of the year revert to the source of origination.
Carry forward funds can only be used for non-recurring issues only. Any positions approved for funding on carry forward must be time-limited/visiting appointments. Each unit should submit a budget for the use of carry forward by August 15th of each year for review by the Provost and Vice Provost.
To avoid the build-up of excessive amounts of carry forward, any carry forward balance in excess of 15% of the College's recurring preceding year budget will be swept by the Provost. The calculation for this is [(recurring budget * .15) less (new carry forward at June 30th plus existing carry forward at July 1st) equals amount swept].
Carry forward funds are normally transferred to the Colleges after the year-end closing process is complete and the funds are transferred into the Division's budget by the University Budget Office.