Transfer or Close a Sales and Service Fund

Transferring a Sales & Service Fund to Another Department

Within the Same Organization: Submit a revised fund application to Corporate Financial Services (CFS) with signatures of the new Responsible Faculty and the Dean.

Within a Different Organization: The “new” department should submit a revised fund application to the Director with POSSSE Responsibility. Be sure to include the fund number and indicate “To Transfer Fund” in the “Reason” field on the first page of the revision form. The “new” department needs to obtain signatures up to and including the Dean’s Office and submit a “mutually” signed statement by the two departments involved (i.e., “old” and “new”) as to how to handle any deficit/surplus (whatever the case may be) upon the fund’s transfer.

Closing a Sales & Service Fund

To close a Sales & Service fund, the department should send an e-mail to the Accountant responsible for Self-Supporting Funds for your respective area of the campus (either General Campus or Health Sciences). The email should include the following information:

1. A statement that the fund is to be closed, including the fund number and title.

2. If the fund has a deficit, also include the account/fund that will be used to cover the overdraft.

3. If the fund has a surplus, check with Accounting as to which funds the surplus can be transferred to.

DO NOT PROCESS A CLOSING TOF ON THE FUND. Accounting will process the TOF once the fund balance is zero.