3.14 PRESERVATION OF ACCOUNTING RECORDS PURPOSE: To outline the policies and procedures the preservation of account records. The following records will be retained for a minimum of three years and in accordance with Federal requirements for 501(c)(6) non-profit corporations:
• General ledger • General journal • Billing and cash receipts journal • Purchase journal • Cash disbursement journal • Payroll reports • Financial statements • Year-end financial reports • Bank account reconciliation
• Cancelled checks • Bank statements • Paid invoices
• Computer back-up disks will be maintained at an off-site location to provide the necessary safeguards for ADP records and where storage and retrieval can be made in the case of an emergency. No organizational document, report, check, cancelled check, record or item of administrative records is to be sent from IGA or taken from the IGA premises. No individual, other than those approved by action of the Executive Committee are permitted access to or review of IGA financial documents.
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IGA Accounting Policies and Procedures (guidelines)
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