Financial Records Retention Schedule

Policy Steward: Office of the Corporate Controller & Office of Records Management

Please contact RecordsManagement@psu.edu with any questions about managing financial records. 

NOTE: The implementation of SIMBA requires the evaluation of all University Financial Policies and Guidelines, including this Financial Records Retention Schedule.  After consultation with key constituencies, work will be underway to update, consolidate, and improve our policies and records retention schedules to better serve you. Please be aware that due to volume, the Financial Records Retention Schedule may not be updated to reflect changes which have been communicated; however, the Financial Records Retention Schedule will be updated with appropriate and applicable effective dates. Thank you for your patience as we work through this process.

Table of Contents:

  • INTRODUCTION
  • PURPOSE OF FINANCIAL RECORDS RETENTION
  • RESPONSIBILITY & SYSTEM OF RECORD
  • FINANCIAL RECORDS REQUIREMENTS
  • RECORD CATEGORIES

    INTRODUCTION

    University Records must be retained and managed in accordance with Policy AD35 University Archives and Records Management and the University’s Records Retention Schedules that have been approved by the Records Management Advisory Committee (RMAC), the Office of General Counsel, and Vice President for Administration. These Records Retention Schedules are derived from - or based upon - federal, state, and local statutes or regulations (i.e.; Federal Acquisition Regulations, the OMB Uniform Guidance, Internal Revenue Service, and other regulations governing the auditability and retention of financial records), University Policy, industry standards, and business needs. All University Records must be maintained in such a manner to provide ease of access, establish a suitable audit trail for all transactions, and to be reviewed prior to disposition.

    University Records and Transitory/Disposable Records are defined below. See Policy AD35, Definition of Terms for additional information.

    • University Records - Information that documents a transaction or regularly conducted activity of the University and that is created, received or retained pursuant to law, University policy, or in connection with a transaction, business, or activity of the University.  The term includes documents, papers, letters, books, drawings, maps, plans, photographs, tapes, film or sound recordings, microforms, digital or analog files, information stored or maintained electronically, and data- or image-processed documents.
    • Transitory/Disposable Records - University Records that have temporary value and, as a result, may be destroyed after they are no longer needed. In no event shall be retained longer than the official copy of the University Records as delineated on the Records Retention Schedule. Examples include photocopies of official University Records, a printed copy of a University Record that is held by the Responsible Party or within a System of Record, a spreadsheet containing data that is exported from an officially resides in another systems, personal emails not related to University business or activity, and/or mass emails or communications.

    Upon completion of the retention period, University Records must be disposed of via secure destruction or transfer to University Archives, unless an exception to the disposition process set forth below applies. In many cases, retention periods and disposition methods may be generally determined by comparing the type of record (i.e., reports, correspondence, etc.) to similar records series with known retention periods listed on the Records Retention Schedule.  If the disposition method for University Records states “Review by Archives” on the Records Retention Schedule, the Unit responsible for those records should consult the University Archivist for a final determination of disposition. For University Records that must be securely destroyed, units may arrange for shredding services by either contacting the Blue/White Shredding Program or the Inactive Records Center (IRC).

    Exceptions to the disposition process are as follows:

    • University Records subject to a Legal Hold (see Policy AD35, Legal Hold). A legal hold will remain in effect until it is released in writing by the Office of General Counsel.
    • University Records under audit or review, either internally or externally. An audit hold will remain in effect until the hold is released by the Office of Corporate Controller. The Financial Officer will be notified regarding any cost objects that are under audit hold; the Financial Officer will be responsible for contacting the Unit associated with the cost objects.

    To safeguard the privacy of individuals, records that contain Personally Identifiable Information (PII), as defined in University Policy, AD53 Privacy Policy, or student records, as defined in University Policy, AD11 Confidentiality of Student Records, must be securely destroyed beyond recovery. For additional information regarding privacy and the protection of an individual's personal information, see Policy AD53.

    Unit specific retention schedules for individual offices that are developed by the Office of Records Management should be utilized in conjunction with this schedule to identify records unique to that Unit. Retention periods for University Records not specifically listed on the Financial Records Retention Schedule (below), on Unit Specific Records Retention Schedule, GURU Procedures and Forms, or in the General Records Retention Schedule may be determined by contacting the Office of Records Management

    PURPOSE OF FINANCIAL RECORDS RETENTION

    This Financial Records Retention Schedule provides the requirements for the length of time various financial records must be retained by the Office of the Corporate Controller or individual Units of the University, including finance or business offices. Retention Schedules for central financial systems, such as IBIS, ERS and eBuy, will be defined by the Office of the Corporate Controller in coordination with the Office of Records Management. In addition, the Office of the Corporate Controller will maintain separate retention schedules for records maintained by its units.

    When requirements for long-term retention of records overlap, the responsible office should retain records for the maximum retention period needed to meet legal and audit requirements and to comply with Policy AD35. In special cases retention periods may be extended by request of the central offices. In such a situation the affected will be notified in writing or it will be noted in the retention schedule. See Audit Holds listed below.

    RESPONSIBILITY & SYSTEM OF RECORD

    1. Electronic Transactions and Systems (Centrally Maintained)

    When the records resulting from a transaction is electronic and in a system of record, the office responsible for overseeing the system is responsible for retaining the official electronic records. This includes transactions in IBIS, ERS, eBuy, and the DocFinity Imaging System. The retention schedule below lists which office or system is responsible for retaining the official records in the "Responsible Party / System of Record" column below.

    2. Paper Records (Locally Maintained or Retained after Scanning)

    When the records resulting from a transaction are paper, the office that receives the original record is responsible for retaining it. The submitting department is responsible for retaining the support until the transaction has posted to IBIS or other systems of record. Originating departments have the responsibility to destroy any paper backup once central administration has successfully processed the reimbursement request, has a copy of the scanned supporting documentation, and the transaction has been fully processed through the central system.

    Departments may scan paper records, such as purchasing card support forms, into approved systems (such as DocFinity) and then securely destroy the paper record, but the retention period still applies to the scanned record. An approved scanning process and system of record is one which has been vetted and approved by AIS Imaging Services, as meeting all requirements for retaining electronic records, including appropriate indexing, as well as security and access by central offices as needed for audit purposes. AIS Imaging Services also will manage the purging of records according to the retention schedules.

    Per FAR 4.703(c)(3) a copy of the original record must be retained for one year past the date it was scanned to allow time for validation of the electronic records in the system. This applies to all local electronic record keeping systems used for financial records, such as Purchasing Card support forms. Therefore, records that originated in paper format and are then scanned must be retained for one year before the paper record can be destroyed. This does not apply to ERS or eBuy records.

    When a central office has retention responsibility, the department initiating a transaction may discard copies of documentation supporting the transaction when it is no longer needed for management purposes. For example, when the transaction is complete and the transaction has posted as an actual in IBIS. Departments should not maintain documentation held by central offices more than one month after the transaction, unless for some reason the transaction has not yet posted.

    FINANCIAL RECORDS REQUIREMENTS

    Audit Holds: There are specific audit holds required for certain financial records which are maintained by the University, including both the Office of the Corporate Controller and the Units. The current Audit Holds will define the earliest date from which records are required to be maintained up until the current fiscal year. That information is listed “Audit Hold” column below and are set based on audit requirements for indirect and fringe cost calculations, using general fund financial records, by the Defense Contract Audit Agency (DCAA). Until these audits are complete, general fund records must be maintained.

    Tax-Exempt Debt Related Records: Life of the bond issue, plus the life of any issue that refunds the issue, plus six years. Records related to tax-exempt debt include but are not limited to documentation of the use of the debt proceeds (project costs), how debt financed property is used, relevant sponsored research contracts and grants in facilities financed with tax-exempt debt, relevant third party leases of space, etc.

    Direct Charges and Revenues to Contracts and Grants: Per OMB Uniform Guidance 2CFR Part 200 - three years following the contract end date (date of submission of final expenditure report). This may be extended if the contract/agreement is under audit or if circumstances related to tax-exempt financing require it (see Tax-Exempt Debt Related Records above).

    Cost Sharing: Any cost sharing records, including those on general funds, must be maintained for the same length of time as the direct charges to the award. This supersedes any general fund retention limits listed in the schedules below.

    NOTE: Retention is based on the end date of the award, not a particular fund established under an agreement. Units who are managing part of an agreement must be aware of the agreement dates and must maintain records based on the agreement end date, not on the end date of their particular fund. In IBIS, the agreement end date will be the close-out date for the agreement.

    Business Transaction Records (not contract or grant-related): Current Year + 2 years - although general fund transactions may need to be held longer for audit purposes. Endowment and gift accounts follow the same retention as general funds.

    Taxable Income (Cash receipt information and billings, and all records for activities considered unrelated business income). Four years following the end of the fiscal year. Longer retention times apply to certain records retained by central offices.

    RECORD CATEGORIES:

    ACCOUNTS PAYABLE

    Accounts Payable Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Back-Up for IBIS FORMS, specifically SRFC - forwarded to Accounting Operations, such as:
    • Group Meal/ Group Meeting Support Form
    • Refund Request Form
    • Request for Cash Advance
    • Request for Travel Advance
    • Vendor Invoices
    Central - DocFinity Per DocFinity Retention Guidelines  
    Back-Up for SRFC, held in Department Department Current fiscal year + 2 years  
    General Funds - Accounts Payable IBIS ADABAS FILES

    These are the official records documenting the accounts payable activity for General Funds only. Related to Vendors Files such as orders, cross references payment summaries and detail files

    Limited to: FILE-FNST-AP-VENDOR-PAY-DETAIL, FILE-FNST-AP-VENDOR-PAY-SUMMARY, FILE-VENDOR-CROSS-REFERENCE, FILE-VENDOR-ORDERFROM, FILE-VENDOR-PAYTO, FILE-VENDOR-PAYTO-HISTORY
    Accounts Payable / IBIS (new mainframe system TBD) Retain from the End of Fiscal Year + 7 years

    To be deleted as of July 1st 2021

    Delete in IBIS prior to 2014; Retain IBIS from FY2014 - 2020; FY2021 - Present in Simba
    National Archives and Records Administration Disposition Authority for Financial transaction records related to procuring goods and services, paying bills, collecting debts, and accounting

    DAA-GRS-2013-0003-0001
    IBIS FORMS - SRFC, JVDP, JVCN Central - IBIS Per IBIS Retention Guidelines

     

    Non-Office Telecommunication Agreements (NTUA) (Obsolete, 02-12-16)



    Cellular Usage Agreements (CUA) (After 02-12-16)

    Department Current active agreement + prior agreement. Ended agreements should be held for two years after end date.  
    Special Request for Check PAPER

    Only used for wire transfers/foreign drafts
    Central - DocFinity Per DocFinity Retention Guidelines

     

    Telephone bills or other invoices not imaged centrally Department Current fiscal year + 2 years  

    NOTE: Records maintained in DocFinity by Accounting Operations can be viewed by Finance Office personnel.

     

    ACCOUNTS RECEIVABLE, INCLUDING RATES AND FEES

    Accounts Receivable Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    AD15 Fee Approvals for Research Service Centers (Decommissioned effective November 6, 2020 and replaced by the Request for Approval of Service Center User Rates) Department Current fiscal year + 7 prior years of rate history  
    AD15 Fee Approvals - General (Decommissioned effective November 6, 2020 and replaced by the Request for Approval of Service Center User Rates) Department Current fiscal year + 3 prior years of rate history

     

    Central Accounts Receivable Program (CARP) - Data entered into system Central - CARP Indefinite  
    Central Accounts Receivable Program (CARP) - Local documentation not entered into CARP Department 3 years after invoice paid  
    Course-Related Fees Approval Budget Office Current fiscal year + 7 prior years of rate history  
    Facility Usage Invoices Department Current fiscal year + 2 prior years, after closed or written-off. Open invoices should be retained.

     

    Other Departmental Invoices Department Current fiscal year + 2 prior years, after closed or written-off. Open invoices should be retained.

     

    Pre-Numbered Receipt Books (completed) Department Current fiscal year + 2 prior years  
    Report of Cash Receipts - Paper and Back-Up Department Current fiscal year + 2 prior years

     

    Request for Approval of Service Center User Rates Department Current fiscal year + 3 prior years of rate history

     

     

    BUDGET RECORDS *

    Budget Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Budget Amendments Central - IBIS Per IBIS Retention Guidelines  
    General Salary Increase Records Central - IBIS or EDDs Per IBIS and EDDs Retention Guidelines  
    Initial Operating Budget Central - IBIS Per IBIS Retention Guidelines  

    * No paper copies should be maintained.

     

    CONTRACTS

    The statute of limitations for breach of contract in the Commonwealth of Pennsylvania is 4 years; therefore Penn State has set this as the minimum retention period for all contracts, including leases.

    NOTE: Risk Management and the Assistant Treasurer do not maintain copies of executed agreements. The contracting department is responsible for maintaining the contracts in their files as noted below. Scanned copies may be kept, but should be accessible by others in the department if needed (on department network).

    Research Awards through the Office of Sponsored Programs are maintained centrally through OSP. See Grant and Contract Records section above.

    Agreements and contracts processed as part of a Purchase Order or signed by Purchasing are maintained centrally through Purchasing. See Purchasing section below.

    Contracts Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Amendments and Addendums (Non-Sponsored Awards) Department Same retention as original agreement

     

    Electronic or Click-Through On-line Agreements - including one-time delegation emails received See FNG02 Limited Delegation of Contract Approvals - Electronic Agreements Department 4 years after end of agreement

     

    Facility Use Agreements, including Banquet Event Orders (BEO) Department 4 years after end date of event

     

    Leases - Equipment, Vehicle (does not include short-term vehicle rental contracts while on travel status) Department 4 years after termination of lease

     

    Leases - Real Estate Central - Real Estate OPP 4 years after termination

     

    Master Entertainment Agreements Department 4 years after end date of event

     

    Non-Disclosure Agreement (NDA) Department 4 years following the end date of the obligation to keep information confidential

     

    University Scholar Agreement (obsolete as of 12/11/2019)

    University Guest Presenter Agreement (effective 12/11/2019)
    Department Back-Up with SRFC for central scanning, or maintain in department for current + 4 years.

     

    All Other Contracts not listed above (Non-Sponsored Awards) Department 4 years after end date of event or end of contract

     

     

    GRANT AND CONTRACT RECORDS (SPONSORED AWARDS)

    In accordance with the OMB Uniform Guidance 2CFR Part 200, financial records, supporting documents, statistical records, and all other records pertinent to an award shall be retained for a period of three years from the date of submission of the final expenditure report or, for awards that are renewed quarterly or annually, from the date of the submission of the quarterly or annual financial reports, as authorized by the Federal awarding agency; except if any litigation, claim, or audit is started before the expiration of the three year period, the records shall be retained until all litigation, claims, or audit findings involving the records have been resolved and final action taken (units must check with Research Accounting for this determination).

    In IBIS, the end date of the agreement is the CONTRACT END DATE, which can be found for a particular account by using ICNA - Contract Information Inquiry or IACT - Inquiry on Account. Do not use the Account End Date, as this is the date the account number closes, not the agreement itself.

    It is highly recommended that separate contract and grant files be maintained for all sponsored awards to support all transactions and actions on a contract or grant which is not maintained in a centrally maintained system (IBIS, eBuy, ERS, SIMS, DocFinity, etc).

    SIMS, which is maintained by the Office of Sponsored Programs (OSP), is the official record of contractual documents for the University. If a record is in SIMS, it does not need to be maintained by the department. SIMS retention is managed through OSP.

    Grants and Contract Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    30 Day Memos (Late Payroll transfer documentation) Finance Office 3 years AFTER the end date of the agreement.

     

    Annual Effort Certification (Sponsored Awards) Finance Office 10 years

     

    Cost Accounting Justification Administrative /Clerical Costs Finance Office 3 years AFTER the end date of the agreement.

     

    Cost Accounting Justification Non-Personnel Costs Finance Office 3 years AFTER the end date of the agreement.

     

    Cost Accounting Justification Non-Personnel Costs Checklist Form Finance Office 3 years AFTER the end date of the agreement.

     

    Paper Records not maintained centrally Department 3 years AFTER the end date of the agreement

     

    Salary Assignment Sheets (back-up for Pay and Effort)Recommend filing by person Finance Office 10 years

     

     

    INVESTMENT MANAGEMENT 

    Investment Management Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Investment Management Legal Documents

    Includes Agreements of Limited Partnerships and Subscription Agreements
    Office of Investment Management 7 years after liquidation of agreement  

     

    MERCHANT MANAGEMENT / CASH

    All supporting documents for cash deposits - register slips, deposit tickets, etc should be held for current + 2 years.

    Merchant Management/Cash Records Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Bank validated copies of deposit tickets Department Current fiscal year + 2 years  
    Charge-back and Customer Disputes Department Current fiscal year + 2 years  
    Daily Settlements and batches from Swipe Credit Card Terminals Department Current fiscal year + 2 years  
    Payment Card Industry - Data Security Standards (PCI-DSS)
    Self-Assessment Questionnaires (SAQ) - (PCI-DSS) Department 3 years  
    PCI-DSS quarterly scans Department 3 years  
    Monthly Merchant Statements Department Current fiscal year + 3 years  
    Credit Card Processing Merchant Request Central - Corporate Controller 3 years  
    Credit Card Processing Terminal Request Central - Corporate Controller 3 years  
    Penn State eCommerce Electronic Credit Card daily settlements and batches Central - AIS Current fiscal year + 2 years  
    Penn State eCommerce Electronic Credit Card sales receipts Central - AIS Current fiscal year + 2 years  
    Processor and Gateway Contract (must be approved Centrally) Central - Corporate Controller 7 years from the end of the contract  
    RECRs (Electronic Commerce Report of Cash Receipts) Central - AIS Current fiscal year + 2 years  
    Refunds to customers Department Current fiscal year + 2 years  
    Report of Cash Receipts - Paper and Back-Up Department Current fiscal year + 2 years  
    Sales Receipts from Swipe Credit Card Terminals Department Current fiscal year +2 years  
    Third Party Credit Card Hardware and Software contracts Department 7 years from the end of the contract  
    Transfer of Accountability - Logs and Forms 

    (maintain in chronological order)
    Department and Courier Current fiscal year + 2 years  

     

    OPERATING CASH FUNDS/PETTY CASH/CHANGE FUNDS

    Operating Cash Funds/Petty Cash/Change Funds Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    REQUEST FOR CASH ADVANCE: Long-Term Advances from Fund Short-Term Advances from Fund Custodian Until settled, then 2 years  
    Bank Authorization Documentation, including signature cards and authorized signers Custodian Until account closed, then 2 years.  
    Bank Statements Custodian Current fiscal year + 2 years  
    Canceled Checks (if not imaged by banking institution) Custodian Current fiscal year + 7 years (per IRS)  
    Deposit Records Custodian Current fiscal year + 2 years  
    Disbursement Records Receipt for Petty Cash Expended Custodian Current fiscal year + 2 years unless scanned as back-up to SRFC in IBIS  
    Monthly Reconciliations Custodian Current fiscal year + 2 years  
    Travel Advance other than through SRFC Financial Officer After settlement: Current fiscal year +2 years  

     

    PAY AND EFFORT

    These are retention for those transactions which are NOT direct charges to grants and contract. See Grant and Contract Records for those retention periods.

    Pay and Effort Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Appointment Records for Employees (other than IBIS) Department Per HR Guidelines

     

    Appointment Records for Graduate Assistants (other than IBIS) Department Seven years after end of appointment

     

    Cross-Foot Error Messages - EDDS reports Central - EDDS Current Fiscal Year + 3 prior years  
    Effort Certification (General Funds) Finance Office Current Fiscal Year + 3 prior years
     
    Pay and Effort Forms (PYTR) Central - IBIS Per IBIS Retention Guidelines

     

    Payroll Vouchers Central - EDDS Current Fiscal Year + 3 prior years  
    Salary Assignment Sheets Finance Office Current Fiscal Year + 3 prior years  

     

    PAYROLL

    Payroll Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Annual Election Forms (i.e. United Way) Central 7 years  
    I9 - Wage and Graduate Assistants Department See HR Retention Schedules

     

    IBIS Forms: PADJ; SUPP Central - IBIS Per IBIS Retention Guidelines

     

    Permanent Election Forms (W-4, W-4E, Direct Deposit) unless amended Central 7 years after date of final pay  
    Wage payroll time slips or time clock cards. Department 3 years AFTER the end date of the agreement if posted to contract or grant; otherwise current fiscal year + 1 prior year.

     

     

    PROPERTY

    Property Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Capital Equipment and Property Inventory Central - Property Inventory Perpetual  
    Federally-Funded Capital Equipment Pre-Acquisition Screening Certification and related Capital Equipment Shared-Use Agreement (Successful searches) Department - both Borrowing and Lending 1 year after termination of Shared-Used Agreement  
    Request for Authorization to Use University Tangible Assets at a Non-University Location Department While equipment held; then current + one fiscal year after return  
    Special Property Audits Assigned Property Administrator Current Fiscal Year + 7 prior years  
    Tangible Property Records - Under Commonwealth of PA Agreement ($1.00 - $4,999.99) Department Current Fiscal Year + 3 prior years  

     

    PURCHASING CARD

    Purchasing Card Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Cardholder Agreement Central - ABS Digital Record - Indefinitely while cardholder active + 2 years after no longer hold card  
    IBIS FORMS - APCA, UPCA (decommissioned July 1, 2020) Central - IBIS Digital Record - indefinitely while cardholder active + 2 years after no longer hold card

     

    P-Card Support Forms Documentation/Receipts

    Posted to Contracts and Grants

    Department 3 years AFTER the end date of the agreement.

     

    P-Card Support Forms Documentation/Receipts

    Posted to Other Accounts, including general

    Department End of Fiscal Year + 2 years
     
    Purchasing Card Statements (decommissioned July 1, 2020) Cardholders / PNC Centre Suite System Current statement, plus prior 12 months If cardholder leaves University employment, statements should not be retained.  
    Reconciler Delegation Form (decommissioned July 1, 2020) Finance Office 2 years after no longer serve as reconciler  

     

    PURCHASING (NON-PCARD)

    Purchasing (Non-PCARD) Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Federally-Funded Capital Equipment Pre-Acquisition Screening Certification
    • Accompanies related purchase order
    • Applies to unsuccessful searches
    • Searches that were successful, but not available for shared-use
    Procurement Services (Central) - Shop OnLion End of fiscal year + 7 years

     

    Limited Order (decommissioned July 1, 2020) Department 3 years AFTER the end date of the agreement if posted to contract or grant; otherwise end of fiscal year + 3 years

     

    Purchase Orders and supporting documentation:
    • Invoices
    • Credit Memos
    • Goods Confirmation
    • PO Change Form
    • PO Option Line Guidance Form (new form as of 5/20/2021)
    • Receiving Reports (decommissioned July 1, 2020)

    (For contracts related to POs, see contracts section)

    Procurement Services (Central) - Shop OnLion End of fiscal year + 7 years

     

    Request for Quote, Request for Information, Request for Proposal and Supplier Responses Procurement Services (Central) - Shop OnLion End of fiscal year + 7 years

     

     

    ROLE MANAGEMENT

    Role Management Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    ADBA - Add Direct Bill Authorization

    (digital document)

    Central 7 years  
    Designated/Delegated/Proxy Authorization Cards (not required if WebRAT and Workflow used to document authorizations) Finance Office While active +2 years from end of authorization  
    IBIS Approval Path Change Reports Central - EDDS 7 years  

    ROLE Workflow Forms

    Central 7 years  
    UDBA - Update Direct Bill Authorization

    (digital document)

    Central 7 years  
    WebRAT Role Updates

    (digital document)

    Central 7 years  

     

    STUDENTS ACCOUNTS RECEIVABLE

    For non financial records related, see "Student Records" Section of the General Records Retention Schedule

    Students Accounts Receivable Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Internal Scholarships and Endowed Scholarships Department 3 years after award disbursed  
    Student account records, receipts, aid award letters, etc. not available in ISIS Finance Office Until student account closed, then 2 years  

     

    TRANSPORTATION SERVICES

    Transportation Services Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Appeal of Parking Violations

         (Paper form decommissioned April 29, 2021)

         Please use the Online Ticket Appeal System
    Transportation Services Current fiscal year + 3 years  
    Fleet Direct Billing Records Central - ABS (VAUX) Current fiscal year + 3 years  
    Long-Term Vehicle Assignment Request Department/Finance Office Current fiscal year + 2 years  
    Long-Term Vehicle Usage Log Department Current fiscal year + 5 years  
    Parking Violations Transportation Services Current fiscal year + 3 years  
    Reservation and Authorization for use of University Vehicle Central - ABS Current fiscal year + 3  

     

    TRAVEL AND GROUP MEALS

    Travel and Group Meals Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Employee Travel Form/Worksheet for the ERS System Department Only retain until report paid/settled

     

    ERS Travel Reports, including all imaged receipts and documentation *

    Original receipts for foreign travel should be submitted to Accounting Operations for VAT Reclamation
    Central - ERS Current + 7 years

     

    Hospitality Services Inter-Office Charge Slip Department Current fiscal year +1 year

     

    Non-Employee Travel Reimbursement Form Department Only retain until report paid/settled

     

    One Day Travel - Meal Reimbursement Report Department Only retain until report paid/settled

     

    Request for Travel Exception or email approval of exceptions Finance Office Approved form or email should be scanned into ERS documentation; otherwise current + 7 years

     

    Travel Advance other than through SRFC Financial Officer After settlement:   Current fiscal year +2 years

     

    Travel Itinerary and Per Diem Computation Worksheet Department Only retain until report paid/settled

     

     

    OTHER

    Other Records Retention
    RECORDS SERIES (File Description) RESPONSIBLE PARTY / SYSTEM OF RECORD RETENTION PERIOD AUDIT HOLD
    Telephone logs (records of incoming and outgoing calls) Department Current fiscal year + 1 year  
    Telephone Service Requests (Paper) Department Current fiscal year + 1 year  
    WTSR - Workflow Telephone Service Request (digital document) Central Current fiscal year + 1 year  

     

    (05-20-2021)