Accounting & Financial Records
| Title of Series | Description | Retention |
|---|---|---|
| Accounts Payable | Amounts owed on open account for goods or services received. | 4 Years |
| Accounts Payable Invoices | Bill for goods or services received | 4 Years |
| Accounts Payable Ledgers | 4 Years | |
| Accounts Payable Vouchers | 4 Years | |
| Accounts Receivable | Amounts due from others on open accounts as a result of providing goods or services. | 4 Years |
| Annual Financial Report | Consolidated year-end report of financial situation showing assets and liabilities. Usually broken down by major funding area, such as academic and student services areas. May include audit report. | 4 Years |
| Annuity Records | Statement of payroll deduction for employees annuity plans. | 4 Years |
| Audit Report - External | Final report of state or independent auditor. | 4 Years |
| Audit Report - Internal | Final report of the internal auditor | 4 Years |
| Bad Debt Actions (University specific) | Overdue accounts, such as library fines, parking tickets, loans, payment for services rendered. | 4 Years |
| Balance Sheets | A report of institutional assets, liabilities, and equities. A periodic report, not the year-end report. | 4 Years |
| Bank Deposits | Record of deposits in banking institutions. | 4 Years |
| Bank Reconciliations | Explanation of differences between bank statement balance and actual balance. | 4 Years |
| Bank Statements | Periodic statement of bank balances. | 4 Years |
| Bids Accepted | For purchases. | Active + 6 Years |
| Bids Rejected | For purchases. | 3 Years |
| Bond Registers | Listing of bonds sold, usually for building projects, showing purchaser, date redeemed, interest due, etc. Active = Life of bond. | Active + 6 Years |
| Budget Planning Documents | Budget requests, including program plans for coming year, usually by cost center. | Active + 1 Year |
| Budget - Institutional | Final, approved, yearly budget for institution, usually in printed form. | Active + 1 Year |
| Canceled Checks | 4 Years | |
| Cash Books | A record of institution s cash transactions showing a running balance. | 4 Years |
| Cash Disbursement Journals | A record of institution s cash transactions showing a running balance. | 4 Years |
| Cash Journal | Journal of cash received. | 4 Years |
| Cash Receipts | Receipts for cash sales or cash received. | 4 Years |
| Cash Register Tapes | 4 Years | |
| Chart of Accounts | A list of the accounts used by an organization with each account usually assigned a number or code. | 4 Years |
| Check Register (University specific) | Book or original entry for all cash disbursements paid by check. | 4 Years |
| Computer Center Time Billing Records (University specific) | Reports and other records from campus computer centers detailing charges for computer services. Includes monthly billing reports, copies of vouchers and bills. | 4 Years |
| Cost Accounting (University specific) | Record analyzing cost for producing certain items or performing certain tasks. | 4 Years |
| Credit Card Statements | Periodic statements detailing card transactions | 4 Years |
| Data Processing Procurement Files (University specific) | Records used in the procurement of system hardware and software including request for proposals, quotations and bids, benchmark/acceptance testing information, correspondence, duplicate copies of contracts, purchase orders, technical reviews, and vendor information including references and literature on the firm or product line. | Active + 6 Years |
| Data Processing Product/Vendor and Contracts Reference Files (University specific) | Information on data processing equipment, software, and other products and their vendors. | Active + 6 Years |
| Dorm Contract Release Files (University specific) | Includes application, correspondence, and record of decision reached concerning request to break contracts for room and board. | 4 Years |
| Delinquent Accounts Report (University specific) | Listing of students who owe money to university or college. | 4 Years |
| Delivery Slips | Documents sent with purchased goods indicating item(s) shipped. | 3 Years |
| Endowment Fund Reports - Annual | Annual report of funds received and expended by endowment accounts. May be in form of report to donors. | Active + 6 Years |
| Endowment Fund Reports - Periodic | Periodic report of funds collected or expended by endowment accounts. | Active + 6 Years |
| Expenditure Report | Periodic reports of expenditures, usually by department or account | 4 Years |
| Financial Aid Award Disbursement Records (University specific) | Statement by individual of award amounts disbursed. Contains name, type, and amount of award. | 4 Years |
| Financial Aid Canceled Check Records (University specific) | Canceled checks, check stubs, and check journals showing payments for financial aid made to students. | 4 Years |
| Fixed Assets Records | Inventory and other information maintained on capitalized assets (structures, site improvements, machinery & equipment, information systems, furniture and fixtures, and vehicles | Active + 6 Years |
| General Ledgers | A book containing a summary or detail of all transactions affecting the accounts of an institution. | 6 Years |
| Gift Reporting Forms | 4 Years | |
| Inter-Departmental Charge (IDC) Records | Forms and supporting documentation for IDC's | 4 Years |
| Inventory Control Record (University specific) | Active + 6 Years | |
| Invoices | Bills for goods shipped or services rendered. Usually matched to purchase orders and delivery slips and attached to voucher for payment. | 4 Years |
| Journal Entries | The means of entering details of a transaction into the accounting system. Journal entries are made in a journal and later posted to a ledger. Entry also includes a brief explanation. | 4 Years |
| Journals | The record in which financial transactions are first recorded before being posted as a debt or credit to an account in a ledger. A chronological documentation of transactions. | 4 Years |
| Parking Tickets - Paid | 4 Years | |
| Parking Tickets - Unpaid (University specific) | 4 Years | |
| Payroll Change Report - Classified Staff | Bi-weekly listings of payroll adjustments processed through Personnel Services concerning full-time or part-time employee status, i.e., new employee, promotion, reclassification, leave of absence, lateral transfers, and removals. Report arranged by pay period. | 4 Years |
| Payroll Checks | Checks paid employees for services they perform | 4 Years |
| Petty Cash Records | 4 Years | |
| Promissory Notes | Student Loan Contracts | 6 Years After Paid in Full |
| Purchase Orders | Purchasing Office's copy of order to a supplier authorizing purchase of goods. | Active + 6 Years |
| Purchase Requisitions, Orders, and Billing Records for Data Processing Services (University specific) | Records created to initiate the purchasing process, authorize and provide funds for, or satisfy claims and expedite payments for private service providers including copies of purchase orders, involve requests, receipts, agency vouchers, service reports, and other supporting documents. | 4 Years |
| Receipts | 4 Years | |
| Records of Chargebacks to Computer Services Users (University specific) | Electronic and manual records used to document, calculate costs and bill program units for computer usage and data processing services. | 4 Years |
| Registers | 4 Years | |
| Requisitions | Forms used to order goods and services. | 4 Years |
| Return to Title IV (R2T4) | Federal funding such as the Pell grant and federal Student loans like, Perkins and Parent PLUS loans. Students that have officially or unofficially withdrawn from the University R2T4. | 4 Years After Award Year |
| Royalty Payments | 4 Years | |
| Sales Receipts | 4 Years | |
| Sales Tax Records | Active = date due | Active + 4 years |
| Student Account Departmental Exemption Requests | Request to process exemptions from departments for student accounts. | 4 Years After End Academic Year |
| Student Account Files | Files on individual students paid and unpaid accounts, including loan applications, correspondence, account activity record, etc. Also includes overdue accounts, such as library fines, parking tickets, loans, payment for services rendered. | 4 Years after paid in full |
| Student Account Final Payment Contract (FPC) | Legal Payment agreement for student accounts | Until Paid in Full |
| Student Accounting Records - Insurance | Record of students enrolled in university or college health program. | 4 Years |
| Student Accounting Records - Tuition Remission Application | Record of tuition waiver for employees and dependents | 4 Years |
| Student Award/Advance File | (Perkins, Nursing, HPSL, Institutional Loans) Award/advance files uploaded to 3rd party loan servicer. | Active + 6 Years |
| Student Dorm Contracts/ Release Files | Actual agreement between students and residence halls governing room and board and fee payment agreements. Includes meal plan authorizations. Includes application, correspondence, and record of decision reached concerning request to break contracts for room and board. | 4 Years |
| Student Financial Aid Accounting Records - Billing Letters | Concerns students who withdrew or reduced credit hours and were billed for the return of surplus aid money. | 4 Years |
| Student Financial Aid Accounting Records - Canceled Check Records | Canceled checks, check stubs, and check journals showing payments for financial aid made to students. | 4 Years |
| Student Financial Aid Accounting Records - Disbursement Records | Statement by individual of award amounts disbursed. Contains name, type, and amount of award. | 4 Years |
| Subsidiary Ledgers | A book of accounts of an institution. | 4 Years |
| Super Bill Files (University specific) | Record given to each person who visits the DeWeese Health Center. Records diagnosis, treatment, and charges or lack of charges. Used for insurance claims. | 4 Years |
| Tax Returns | Federal, State, and local tax returns and supporting documents. Active = Date of filing. | Active + 3 Years |
| Telephone Expense Records | Periodic reports of long distance and local phone charges and cell phone records, including authorization records. | 4 Years |
| Travel Expenses | Record of expenses incurred on official travel. Used to receive reimbursement. | 4 Years |
| Unemployment Insurance Payments | 4 Years | |
| Union Dues Membership List - Classified Staff (University specific) | Copy of biweekly listing of university or college employees paying dues to unions, including pertinent personal data, classification and department. | 4 Years |
| Vending Commission Income Records | Record of money received as commission on vending contracts. | 4 Years |
| Voucher Register | A journal in which accounts payable and their payments are recorded. | 4 Years |
| Vouchers | A record of cash disbursement used to establish control over expenditures and ensuring appropriate approval for each transaction. | 4 Years |
| Workers Compensation Payments | 4 Years |