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Deactivating Chartfields

Process

  1. All cash balances must be zeroed. You may process transactions that affect cash, such as transferring remaining revenue to an appropriate Source.  Accounting Services will process transfers to remove cash balances from cash lines related to particular bank accounts.
  2. Documents needed by Accounting Serves and returned via email:
  • Memo/email message from the Disbursing Authority (Director of Curriculum of Toxicology, School of Medicine) requesting that the Source be deactivated with the reason – as you stated below.
  • Completed Source Deactivation Checklist (see attached).
  1. Accounting Services and Financial BA’s processes queries to ensure all transactions have ceased and final cash balances are ready to move.
  2. Final cash transfers are processed.
  3. Source is deactivated.

If at any time a transaction posts to the Source during this process, the deactivation process pauses for the completion of activity and checks against the system resume.

Special considerations if you are deactivating a:

  • Contractual trust source: Review the terms of the contract to determine if remaining funds need to be returned to the other party.
  • OSR source: Review with OSR to make sure no other constraints are placed on the funds, and that the residual funds may be moved to an institutional trust source. This must be in writing and attached to the online source document, or OSR must make this statement in the notepad before approving the online journal entry to move the monies.
  • Gift source: Has the development office been notified to designate gifts to another source?
  • State or F&A sources: Contact the Budget Office for assistance.

Additional questions:

  • Have all approvals been received at the Department or MOU level to deactivate the source? Has the Disbursing Authority signed off on the deactivation?  Memo or email correspondence showing this is needed.
  • Has all income been received and recorded? (Note: if this source participated in money market or other investment vehicle it will need to remain active until the end of that respective quarter to receive the final interest payout.)
  • If this source receives income from a Foundation or endowment, have you notified the owner of the principal source to redirect that income?
  • Have all obligations been paid and have they cleared the source?
  • Have all encumbrances been liquidated?
  • Has the source been removed from all applicable allocations, feeds, batches, etc.?
  • Have all HR actions been completed?
  • Verify that source has a 0 (zero) balance.