diff --git a/atst/routes/portfolios/index.py b/atst/routes/portfolios/index.py
index 795d4b70..44cac768 100644
--- a/atst/routes/portfolios/index.py
+++ b/atst/routes/portfolios/index.py
@@ -50,8 +50,10 @@ def reports(portfolio_id):
     return render_template(
         "portfolios/reports/index.html",
         portfolio=portfolio,
-        # wrapped in str() because the sum of obligated funds returns a Decimal object
-        total_portfolio_value=str(portfolio.total_obligated_funds),
+        # wrapped in str() because this sum returns a Decimal object
+        total_portfolio_value=str(
+            portfolio.total_obligated_funds + portfolio.upcoming_obligated_funds
+        ),
         current_obligated_funds=current_obligated_funds,
         expired_task_orders=Reports.expired_task_orders(portfolio),
         retrieved=datetime.now(),  # mocked datetime of reporting data retrival
diff --git a/translations.yaml b/translations.yaml
index c3d73c3a..6fe84865 100644
--- a/translations.yaml
+++ b/translations.yaml
@@ -508,7 +508,7 @@ portfolios:
     estimate_warning: Reports displayed in JEDI are estimates and not a system of record.
     total_value:
       header: Total Portfolio Value
-      tooltip: Total portfolio value is all obligated and projected funds for all task orders in this portfolio.
+      tooltip: Total portfolio value is all obligated funds for current and upcoming task orders in this portfolio.
 task_orders:
   add_new_button: Add New Task Order
   review: