Carry Forward Questions

Question:
As I learn about SHIP annual reports, I need more guidance and an explanation of “carry forward” funds.

Answer:
Three years after receiving a SHIP distribution, you must determine if any small amount of funding remains unencumbered. It is common to have a small amount of unspent SHIP funds from a close out distribution and this is not a violation of the expenditure deadline. Yet whether the amount is $300 or $3000, you may find that this small unencumbered amount is insufficient to fully assist the next household waiting for assistance from any of your strategies. In such a case, you may simply “carry forward” these remaining dollars. This means that the small amount should be assigned as a source of revenue on the annual report for the next SHIP distribution. The new online reporting system will automatically identify a close out distribution’s unencumbered funds as the carry forward amount and will add this amount as the carry forward revenue on the annual report for the first interim distribution. In order for the system to successfully accomplish this automated task, do not report these remaining unencumbered funds in the unencumbered column of Form 1. In other words, your close out annual report should not have any dollar amounts reported in the encumbered or unencumbered columns.


Question:
As I review the tracking spreadsheet for my close out distribution, I have discovered that I have “over expended” this distribution. That is to say, the expenses listed on the spreadsheet exceed the revenue by $1200. Please advise me how to proceed.

Answer:
This is not a problem since the annual report instructions indicate that your close out annual report may indicate a carry forward amount that is either a positive or negative number. The new online reporting system will identify this negative carry forward amount and will automatically add this amount to the revenue section of the annual report for the jurisdiction’s first interim distribution.