Carrying Forward Unspent Revenue Budgets at the end of the financial year

As we approach the financial year end we would like to remind Heads of School / Centre /Department, School Administration Managers and Financial Administrators of the procedures for carrying forward any unspent revenue budgets:

The main point to remember is that no unspent budgets are automatically included in the school / centre/ department revenue budget for the following year.  Any net unspent budget is transferred to a carry forward reserve for each RAM unit – you can fill in a year end Y4 form if there are any job numbers for which you want to keep a separate carry forward reserve – please remember that this is not a request / approval to spend the budget in the following year.

Approval for spending from the carry forward reserve in the following year can be achieved in two ways:

  1. Submission of a budget bid during the planning round
  2. By following Procedure 830 Appendix 1:  https://www.kent.ac.uk/finance-taff/financialprocedures/docs/FinProc_830.pdf

In summary, in any one financial year and for one school/department:

  1. Requests up to £10k can be approved by the Assistant Director of Finance – Financial Planning
  2. Requests above £10k and less than £50k need to be approved by the relevant Dean or Director of Finance
  3. Anything above £50k needs to be approved by EG on the basis of a sound business case for the spend – submitted via the FPA Office.

Further information on all year end procedures can be found on the Staff Finance website

https://www.kent.ac.uk/finance-staff/general/reports/index.html