Closing an Account

An account may be closed or deactivated if it is no longer used. Closed accounts will continue to appear in SIRI's history.

A request to close an account should not be submitted to Financial Management or UB Foundation until the relevant criteria are met. Criteria to close an account are different for each account type.

State Research Foundation UB Foundation

To close an existing State account, submit a Create, Change or Close State Account Request form.

Create, Change or Close State Account Request form

Criteria for Closing a State Account
Trial Balance	Annual Allocation*	Free Balance**	Cash Balance***	Encumbrance
State Operating	$0	$0	Not Applicable	$0
Dormitory Income Fund Reimbursable (DIFR)	$0	Not Applicable	Not Applicable	$0
Income Fund Reimbursable (IFR)	$0	Not Applicable	$0	$0
State University Reimbursable (SUTRA)	$0	Not Applicable	$0	$0

* rolls forward for all State accounts
** only rolls forward for State Operating Accounts via the annual carryforward process
*** rolls forward for cash-based accounts (IFR or SUTRA)

A master account (an account ending in -0000) cannot be closed if there are open subaccounts. The balances in all subaccounts associated with the master account must first be cleared to close the master and all associated subaccount.

Financial Management will change flags on the account to prevent future transactions once the criteria have been met.

The account won’t be officially closed until the end of the fiscal year. Requests to close accounts should be submitted by May for the closure to take effect the following fiscal year.