UNIVERSITY OF CINCINNATI
Policy for Write-Off of Inactive Fund Balances

LOCALLY - MANAGED FUNDS

There are a large number of locally-managed funds. These funds require central reporting and accounting activity. Accordingly, many small funds use up as many resources as the large funds. All designated general and restricted funds will be eligible for write-off if the following criteria are met:

1. The fund balance is below $1,000.
2. The fund has had no activity for three years.
3. The department/fund manager has been given 30 days notice to expend, or move, the funds.

These criteria will be checked toward the end of each fiscal year in May (prior to a June 30 close). After the close of May business each year, an analysis will be performed to determine which funds have less than a $1,000 balance and have had no activity for three years. If it is found that items 1 and 2 above are met, the Accounting Office will call the appropriate individual to discuss the means for using, or moving, the balance. In the absence of a response, such funds will be deposited into the Central Contingency Reserve.

PLANT PROJECT FUNDS

In May of each year, Capital Finance will perform an analysis to determine what projects have been completed and what funds are available for return to either unrestricted, or restricted sources. Unused funds will be returned to the originating fund source(s). If multiple funds were involved, any excess funds would go towards reducing the claims on operations amount.

POLICY APPROVED BY JOINT ACADEMIC/ADMINISTRATIVE COUNCILS 10/9/92.