Financial Services Manual (FIN)

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Effective: 4/15/1986

Revised: 7/1/2019

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FIN 207: Closing of Cost Centers, Programs, or Gifts

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To discuss reviews to be performed when a university department desires to close a Cost Center, Program, or Gift

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University policy

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To close a Cost Center, Program, Gift, Grant, or Project, an authorized cost center manager must submit a request to their Financial Services accountant.

Before a cost center, program or gift can be closed, the department must:

  1. deactivate any unnecessary PeopleSoft positions and/or re-map any active, necessary PeopleSoft positions to another cost center, program and/or gift
  2. deactivate P-Card(s) or contact to re-map active P-Card(s) to another cost center, program and/or gift


  3. confirm that all purchase orders have been fully expended and/or modified to zero.
    Note: If a surplus exists, the department must indicate the cost center and program, or gift to which the surplus should be transferred, or if a deficit exists, indicate a funding source from which to clear the deficit.

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