DISPOSAL CODE
RECORD DESCRIPTION
RETENTION PERIOD
CUSTODIAN
government agencies d. Records of property subject to gain or loss treatment e. Records supporting items of income, deductions and credits
Permanent
Accounts Payable
2
7 years after taxable disposition Accounts Payable
2
f. Letters of Credit - Student - Used g. Letters of Credit – Student – Unused
7 years 1 year 7 years 7 years
Bursar
2 2 2 2 2
Student Accounts Accounts Payable Accounts Payable Accounts Payable
h. Invoices
h. Journal Entries
General Contract : 6 years after termination or expiration Construction Contracts : 12 years after termination
i. Payments Made Under Contracts and Leases
j. Accounts Payable and Receivable Ledgers k. Accounts Receivable Records l. Accounts Distribution Summaries (weekly/monthly) m. Accounts Distribution Summaries (year-end)
7 years 7 years 3 years 7 years 7 years 3 years
Accounts Payable Accounts Payable Accounts Payable Accounts Payable Accounts Payable
2 2 2 2 2 2 2 3 1 2
n. Expense Reports – Employees Accounts Reconciliation Records
Accounting Accounting Accounting Accounting
Equipment & Furniture Inventory Records
5 years after superseded or obsolete
Fixed Assets Inventory
Permanent
Unclaimed Property Report Records
3 years after remitted to state
f. 1099 forms (employer’s copy of U.S. information return for calendar year) EDUCATIONAL FOUNDATION Annual Donor Reports
7 years
Accounts Payable
7 years
Foundation Foundation Foundation Foundation Foundation
2 3 3 2 3
Annual Financial Reports Annual Giving Reports Donor Gift Deposit Records
Permanent Permanent
7 years
Donor Gift File
Permanent
CONTRACTS / PURCHASE ORDERS Purchase Orders Contracts – Material Operating Agreements (professional/consulting services; aux. services; license agreements) Contracts – Purchase Orders/Service Provider Agreements Invoices Background Check Certifications – Auxiliary Services Personnel
7 years 7 years
Procurement
2 2 2
Accounts Payable General Counsel; Responsible Department
6 years after termination/expiration of contract 6 years after delivery/completion of services 3 years after termination of contract 6 years after termination/expiration of contract 6 years after termination/expiration of contract 6 years after termination/expiration of contract 7 years after job completion
Procurement; Responsible Department Procurement
2
2
Contracts – Academic a. Clinical Affiliation Agreements
General Counsel; Discipline Dean
2
b. Articulation Agreements
Provost
2
Publically Bid Contracts and Documents – Awarded
Procurement
2
Public Bid Records – Proposed & Unsuccessful Bidders
Procurement
2
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