Finance Record Retention Schedule

Record/Document Name or Type Number of Years Division Department
       
1099 Forms Shredded after 10 years Finance Accounts Payable
Accounts Payable Ledgers Current Year + 1 Finance Accounts Payable
Accounts Payable Records Current Year + 7 Finance Accounts Payable
Accounts Receivable (Miscellaneous) Current Year + 7 Finance Accounting
Annual Budget Permanent Finance Resource & Allocation
Annual Financial Report Working Papers Permanent Finance Accounting
Annual Financial Statements (Audited) Permanent Finance Accounting
Bad Debts (Journal Entry Backup) Permanent Finance Accounting
Bank--Cancelled Checks Current Year + 7 Finance Accounting
Bank Reconciliation Current Year + 7 Finance Accounting
Bank Statements Current Year + 7 Finance Accounting
Bills of Lading Current Year + 7 Finance Accounts Payable
Bond Indentures Permanent Finance Treasury Operations
Cash Receipt Register Current Year + 1 Finance Accounting
Cash Receipts, Deposits Current Year + 7 Finance Accounting
Certificates of Deposit Until cashed & audited Finance Accounting
Certificates of Stock, Bonds, etc. Until cashed & audited Finance Accounting
Collection Agency Statements Three Years Finance Credit & Collections
Credit Memos Current Year + 7 Finance Accounting
Endowment Initial Unitization Logic Permanent Finance Accounting
Endowment Quarterly Unitization Schedules Permanent Finance Accounting
Endowment & Scholarship Gift Files Permanent Finance Accounting
Expense Reports (Accounts Payable) Current Year + 7 Finance Accounts Payable
FISAP Reports (Including Federal Work Study) Permanent Finance Student Loans
Fixed Asset Additions--Substantiating Documents Permanent Finance Resource & Allocation
Fixed Asset Inventory Document Permanent Finance Resource & Allocation
Fixed Asset Retirements--Related Details Permanent Finance Resource & Allocation
General Ledger Transaction Report Permanent Finance Accounting
General Ledger/Journal and Supporting Documents Permanent Finance Accounting
Grant Documents & Related Information 5 years after completion of grant activity Finance Accounting
Income Tax Payment Checks - Wire Requests Permanent Finance Accounting
Interdepartmental Billing Permanent Finance Accounting
Journal Entry Permanent Finance Accounting
Perkins Loan Activity Reports and Files Permanent Finance Student Loans
Purchase Order Cancellation Current Year + 7 Finance Purchasing
Purchase Order Documentation Current Year + 7 Finance Purchasing
Purchase Order Line Item Current Year + 7 Finance Purchasing
Purchase Orders/Requisitions Current Year + 7 Finance Purchasing
Purchase Order, Vendor Invoices Current Year + 7 Finance Purchasing
Purchase Records (unless otherwise defined) Current Year + 7 Finance Purchasing
Real Property Indefinitely Finance Resource & Allocation
Shipping and Receiving Reports Current Year + 7 Finance Accounts Payable
Shipping Papers Indefinitely Finance Accounts Payable
Student Loan Ledger (FYE Run) Permanent Finance Student Loans
Student Receivable--Drop/Add Records Current Year + 7 Finance Student Loans
Student Receivable--Individual Student Files Current Year + 7 Finance Student Loans
Student Receivable Ledgers Current Year + 7 Finance Accounting
Student Receivable Transactions (Daily Work) Current Year + 7 Finance Accounting
Student Repayment Deposits Two Years Finance Student Loans
Student Balance Write-offs Until Scanned, Then Permanent Finance Credit & Collections
Tax Correspondence Permanent Finance Accounting
Tax Records of Employee Wages Permanent Finance Accounting
Tax Return Support Permanent Finance Accounting
Tax Returns and Work Papers Permanent Finance Accounting
Trial Balance (FYE Run) Permanent Finance Accounting
Trust/Bequests Indefinitely Finance Accounting