How do I retire a fund?

The best time to retire a Fund is when it's balance is at zero.  Retiring is typically the last step in the life of a Fund record.  

If your Fund is in a pool you will need to remove it from the pool first.. 

• To retire a Fund select File Maintenance > Funds > Retire a Fund .
• Enter the Fund ID.
• Fill in the Retirement Date.
• Click OK.

When you retire a fund the following things occur:

• If the balances in each Fund Balance accounts for the Fund is $0, all the GL accounts in the current and future years will be marked inactive.  This will prevent them from copying into future GL years.
• The Date Retired will appear in the Fund record. Note: If the Fund Balances were not yet $0, the accounts will not be marked inactive for you. 
  •  Although you could manually mark each account inactive one at a time, it is more expedient to have FIMS do it for you.  
• If you retired the Fund early, and have now finished posting entries that will bring the Fund to a $0 balance, you can un-retire, then re-retire the Fund. To do this click on:
  • File Maintenance > Funds > Retire a Fund , enter the Fund ID and click Reactivate Fund .  This will remove the Retired Date from the Fund record.
  • Then run the procedure again and enter a Retired Date.  You should see a message indicating FIMS will mark all GL accounts inactive for you.