Account Creation and Control
Closing of Inactive Accounts
Financial Accounting Services (FAS) closes inactive accounts except for 26 accounts. Regarding 26 accounts,
contact SPAA.
Except for 26 accounts, each year FAS identifies all accounts that have had no income or expense activity during the previous two completed fiscal years. FAS also identifies each account that has a zero free balance or a very small balance. FAS then takes action on those accounts, as follows.
Any account with a zero free balance is inactivated. Then at the end of the second fiscal year without any activity, it is deleted by the accounting system.
Inactive accounts which have funds remaining are reviewed by the Vice President for Business Affairs. With his approval, accounts with very small balances are lapsed.
All other accounts are brought to the attention of either the Dean or the unit head so that the funds can be expended and the account can be closed.
Budget groups identified as having had no activity for the fiscal year, and which also have free balances of zero, are moved to an institutional unit code. This helps to eliminate clutter in departmental unit codes. Accounts in the institutional unit code will never have any expenses or funds in them.
