Transfer of AUC from one fund to another fund

We are a governmental entity.  We have assets under construction.  Our Board just approved the official closing of a fund that had AUC.  The AUC needs to be transferred to another fund.   We attempted posting a journal entry where we credited against the WBS element and debited not referencing the WBS element in the closed fund and debited against the WBS element and credited not referencing the WBS element in the transfer to fund.  Then, we went through the settlement process.  The CIP moved from one asset sub-number to another asset sub-number.  However, the value did not move from the closed fund to the other fund.
Does anyone have any suggestions as to how to accomplish this transfer of AUC from one fund to another?

Karl,
All but one of your assumptions is correct. The original WBS element is not yet closed.
Here is what we have...
WBS1 settled to AUC1
We need to transfer the value of AUC1 in FundA to AUC2 in Fund2 so that we can close FundA.
Can you elaborate on your statement... "create a settlement rule for WBS with the old receiver "AuC"."?
Is it possible to transfer from one AUC to another AUC in different funds using ABUMN?
We did performed a test1 where we credited WBS1 and debited WBS2, and ran through all of our processes (AS11_FMIM, CJ8G, ASKB, AFABN). AFABN should have did the following...
DR Investment in Fixed Assets for FundA
CR Investment in Fixed Assets for FundB
and
DR AUC settlement GL account for FundB
CR AUC settlement GL account for FundA
But only entries for FundB were created. We were able to successfully run all processes and post all entries correct for two other WBS elements that we selected in another test. We thought that there was a probem with the master data setup of WBS1 because when we display it and look on the "Assignments" tab, Object Class is set to "Overhead" instead of "Investment". Would this be causing our problem? Thanks for your help.

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