Yes. So, let's derive the formula for the distance traveled when there is initial velocity in the following shortcut way:
Imagine that the object was thrown a little time before [itex]\tau[/itex] so that when it passes at the top of the well, it has exactly velocity [itex]v_{0}[/itex]. From the formula you had posted (with [itex]v_{0} = 0[/itex] in it and [itex]v = v_{0}[/itex], think about it!), we would have:
[tex]
v_{0} = a \tau[/tex]
by this time, the object had displaced by:
[tex]
s_{0} = \frac{1}{2} a t^{2}[/tex]
Next, let us turn to the part of the motion from the time when it passes by the top of the well. In this case, the object has some initial velocity. Let us see how much it displaces after a time t had passed. The total time it had traveled is [itex]t + \tau[/itex]. During this time, it displaced by:
[tex]
\tilde{s} = \frac{1}{2} a (t + \tau)^{2}[/tex]
During the period that we are interested in, however, it displaced by only (make a sketch to verify!):
[tex]
s = \tilde{s} - s_{0}[/tex]
Using the above formulas and the binomial formula, we get:
[tex]
s = \frac{1}{2} a (t + \tau)^{2} - \frac{1}{2} a \tau^{2}[/tex]
[tex]
s = \frac{1}{2} a \left[(t + \tau)^{2} - \tau^{2}\right][/tex]
[tex]
s = \frac{1}{2} a \left(t^{2} + 2 t \tau + \tau^{2} - \tau^{2} \right)[/tex]
[tex]
s = a \tau t + \frac{1}{2} a t^{2}[/tex]
Finally, we need to eliminate the "fine-tuning" parameter [itex]\tau[/itex] and expresses it through the information that we really have, namely the initial velocity. For this, use the first equation. Then, the formula for displacement becomes:
[tex]
s = v_{0} t + \frac{1}{2} a t^{2}[/tex]