Carry Forwards Allocations are ONLY used in a 2 CFR Part 200 plan. They are used to “true” up the cost from the estimated cost to the actual cost. The format of a 2 CFR Part 200 Plan is to use the actual cost of one year as an estimate of cost for 2 years later. Once you have the actual cost, the Carry Forward allocation is used to adjust the estimate to reflect the actual.
In the first 2 years of preparing a 2 CFR Part 200 Plan you will not have a Carry Forward calculation and you would leave this section blank in the system. Beginning in the 3rd year, you will be able to utilize this section in the software. For example if you completed a cost plan based on Fiscal Period 2011/2012 actuals for USE in Fiscal Period 2013/2014, this is considered an estimated 2013/2014 cost plan. Then when you have the actuals for Fiscal Period 2013/2014, you will need to compare it to the estimated plan you completed based on the Fiscal Period 2011/2012.
In the Navigation Menu, expand the Cost Plans menu item. Locate the Cost Plan for which you would like to enter the Carry Forward and expand the selection. Last, click the View Icon to the left of the Carry Forward menu item to open the table in the workspace.
To edit the data simply click into the field that you would like to edit and start entering data:
Estimated Cost: Cost which is found on the estimated plan from 2 years ago. For example, say you completed a plan in Fiscal Period 2011/2012. Looking at your 2011/2012 report, the “Total Actual Cost” column in Exhibit A will be used for your 2013/2014 plan since this was the estimate for Fiscal Period 2013/2014. Every Report Item that you have in the previous plan should be updated here. The totals should match the total column from Exhibit A.
Regular Adj: This column is used for adjustments you would like to add for a particular report item.
One-Time Adj: This column is used when you need to make a One Time Adjustment to one or all report items in the list. For example, if you have a prior year plan estimate for a central service report item that is NO LONGER a central service report item, it is necessary to back out the cost on this line to ensure you are comparing apples to apples across both plans. You always want to make sure the estimated cost matches EXACTLY with the “Total Actual Cost” for the estimated plan. Use this adjustment line to adjust any changes that may have occurred since the estimate was calculated.
In the 2 CFR report, the carry forward calculations are displayed in 2 places.
In Exhibit B the Roll Forward adjustment is actually calculated. The Estimated Cost, the Regular Adjustment and the One Time Adjustments contain the data you have entered into the Carry Forward table. The other columns, Actual Cost, Roll Forward, and Total Claimable are calculations by the system. The “Actual Cost” column is the actual cost of the cost plan that was just prepared. The “Roll Forward” column is the “Actual Cost” Column minus the “Est Cost” column.
Once the roll forward amounts are calculated in Exhibit B, they are sent to Exhibit A. The roll forward amount is then either:
Added to the “Total Actual Costs” if an underestimation occurred 2 years ago or
Applied as a department a credit if an overestimation occurred.
If you have further questions about the Carry Forward please reach out to one of our Customer Success personnel.