Types of Records

No. of Years to Retain

Administrative

Annuity gift agreements

Permanent

Board by-laws, charter, minutes

Permanent

Checks (taxes, property and fulfillment of important contracts)

Permanent

Committee files

5 years

Contracts and agreements

5 years after termination

Copyright and trademark requisitions

Permanent

Deeds and easements

Permanent

Gift records

Permanent

Legal files (lawsuit, after settlement)

10 years

Life income agreements

Permanent

Patents

Permanent

Proposals for grants & contracts

2 years

Self-study and accreditation reports

10 years

Sponsored grants and contracts

5 years after expiration

Surveys, reports, questionnaires:

Mandatory

5 years

Voluntary

Variable

Tax returns and workpapers

Permanent

University manuals and handbooks

Permanent

Types of Records

No. of Years to Retain

Accounting

Admission tickets:

Stubs and reconciliations

3 years

Unused tickets

3 years

Bank statements:

Canceled checks

5 years

Deposit slips

5 years

Reconciled statements

5 years

General records:

Accounting diagnostic reports

5 years

AIP edit reports

3 years

Audit reports – internal

20 years

Audit reports – external

Permanent

Cash receipts

5 years

Cash register tapes

5 years

Endowment agency reports

5 years

Endowment contribution support

Permanent

General ledgers and journals

7 years

Inventory department reports

5 years

Inventory records

5 years

Inventory TU-006 forms

5 years

Restricted contribution notification

3 years after restriction

Subsidiary ledgers

7 years

Time and effort reports

5 years after expiration

Vouchers

5 years

Payroll:

Contracts

5 years

Diagnostic reports

1 year

Earnings record

7 years

Registers

7 years

Tax reports

7 years

Time cards, time sheets

5 years

Budgets

Annual budget and support

4 years

Requests for budget changes

4 years

Correspondence

General

3 years

Licenses

Permanent

Legal and tax

Permanent

Insurance

Accident incident reports

7 years

Claims - (after settlement)

10 years

Fire inspection reports

Current year + 2 years

Policies

Permanent

Safety inspection reports

7 years

Personnel Services

Disability and sick benefit reports

Permanent

Employee applications (of persons not employed and searches)

1 year

Employee records

Permanent

I-9

3 years

Job audits

5 years

Pay plans and job descriptions

Current

Personnel files (terminations)

Permanent

Student employee records

3 years

Vacation and leave reports

Permanent

Withholding tax statements

Permanent

Physical Plant

In-house records

3 years

Keys (outstanding issues)

Permanent

Outside contractor agreements

5 years

Plans and specifications:

        New construction

Life of building

        Renovations/Rehabilitations

Life of building

        Restorations

Life of building

Purchasing

Bills of lading

4 years

Central purchase orders

5 years

Department purchase orders

5 years

Inventory records:

        Warehouse

Permanent

        Print Shop

Permanent

Issue log for blank vouchers

Permanent

Re-distributed properties

3 years

Service Contracts/Agreements

3 years

Shipping and receiving reports

4 years

Student Loans

Note and related records

5 years after loan payoff