1. Review each of your
funds to make sure the appropriate function is compatible with your account code
string (i.e. if the fund class is research -- class 017, the function must be
1xxx).
Refer to the FDCL and FUNC tables on CUFS to confirm how your fund is currently
set up. Any changes will need to be processed via A-123 and need to be clearly
defined in the fund record.
2. Review each fund record
to make sure you are spending appropriately per the fund
restrictions/guidelines.
3. Identify inactive
funds. The University has a policy for writing off inactive fund balances which
can be found at
http://www.uc.edu/controller/fp_06_01_22.htm. In summary (a) if you have a
fund with a balance less than $1,000 and no activity for three years, you
need to use the funds or move the funds and close the account; (b) if you have a
fund with a balance more than $1,000 and no activity for three years, you
need to review the account and consider combining funds or spending them out.
Any changes for either option will need to be processed via A-123 to move the
money so the balance is $0 in the account and then via another A-123 to close
the fund. Examples, of processes the A-123 can be found under Budget and Cash
Transfer menu.
