Answer:  Yes. To reactivate a fund simply go to the FUND PROFILE for that fund (under ORGANIZE > FUNDS) and scroll to the bottom of the FUND PROFILE.

Click the REACTIVATE FUND button and proceed to enter any new activity. 

If a fund is reactivated in the same period it was closed, the system generated closing entries will be deleted and the fund's balance will be reestablished as of the last closed period. If a fund is reactivated at a later date, the fund will open with a zero balance.