New Accounts: Determine the account's purpose and its source, amount and intended use of funds. Be sure to review the account types. Contact your fund accountant if you need help. Next, complete a New Account Proposal Form.
Account Update/Maintenance: Changes to approved signers must be approved by the Responsible Person. Changes to the Responsible Person must be authorized by the responsible person's supervisor. You can change/correct the responsible person and/or approvers by completing the FRS Account Update Memo. You can also make Other Changes such as account name, address, etc.
Account Delete: When the purpose for an account no longer exists and all reporting and administrative requirements are fulfilled, use an RBC, an RFAA, an e-mail or memo to notify Financial Management to close an account. The document should request that the account be closed and must be signed by an authorized signer.
All contents copyright © 2006. Arizona Board of Regents.
