What happens to Core and Non-Core budgets at fiscal year end?

What happens to core and non-core budgets with the close of the fiscal year? Read on to find out.

Core Fund Structure: Budgetary roll forward and close

The Core Budget structure roll forward takes the Total Budget Remaining on July 23 and moves it from the FY21 Plan template to the FY22 Plan template as Budget Rolled in from Prior Year. The Budget Rolled in from Prior Year will keep the following worktags: Ledger Account, Program, Cost Center, Fund, Region, and where applicable, Revenue Category, Spend Category, Alt Reporting, and Extension Reporting.

In the below image of a CR FIN Core Budget to Actuals Summary report, the values in the green box in FY21 should be the values in the yellow box in FY22 reporting.

Non-Core year end close to fund balance

In the Non-Core Budget structure, even if there are budgetary values, they do not roll into the next fiscal year. They are loaded anew each year.

Instead, when Workday closes the ledger year, a calculation is done that takes all of the revenue values in the revenue ledger accounts and subtracts all of the expenses in the expense ledger accounts by worktag. The worktags that are taken into consideration in this calculation are: Company, Cost Center, Fund, Function, Region, Gift, Grant, Program, Project, Assignee, Alt Reporting, and Extension Reporting.

In the below image of a CR FIN Non-Core Budget to Actuals report, the values in the green boxes are subtracted by the values in the red boxes which result in the value in the yellow box. That value is combined with the value in the purple box for FY22 reporting.

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