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