Funds can be closed at any time providing the fund has a zero balance.
Close a Fund
- Navigate to the Funds page.
- Enter the fund name in the Search Funds field and select the Fund from the drop-down list.
- Alternatively, click List in the left-side menu to view a list of all funds. Click the ID of the fund to be closed.
- Alternatively, click List in the left-side menu to view a list of all funds. Click the ID of the fund to be closed.
- Verify the fund has a zero dollar balance.
- If the fund still has a balance, create an internal grant or an interfund transfer to move the remaining assets out of the fund to be closed.
- Click Close in the left-side menu.
- Change the Close Date if needed, and then click Close Fund.
- CommunitySuite will generate the appropriate journal entry for the Close transaction.
- A Fund Closed banner will display at the top of the fund.
- Exclude the fund from revenue share or give the fund's revenue share to another fund.
- These settings can be found in the Cash Management section of a fund, which is accessible when the fund is edited.
- These settings can be found in the Cash Management section of a fund, which is accessible when the fund is edited.
Delete a Fund
Before a fund can be deleted, fund advisors, grant approvers, voucher approvers, and assigned fund fees must be removed. Funds cannot have any transactions associated with them either. If they do, close the fund instead.
- Navigate to the Funds page.
- Enter the fund name in the Search Funds field and select the Fund from the drop-down list.
- Alternatively, click List in the left-side menu to view a list of all funds. Click the ID of the fund to be deleted.
- Alternatively, click List in the left-side menu to view a list of all funds. Click the ID of the fund to be deleted.
- Click Delete in the left-side menu.
- Click [Yes] to confirm deleting the fund.
