Records Management and Archives

University System of Georgia records retention policies and procedures

USG Records Retention Schedules

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CATEGORY:  Finance     Total: 23

Accounting Records

Number:  0472-03-001

Description:  This series includes bank statements, purchase requests, purchase orders, requisitions, financial reports, accounts payable and receivable records, write-off records, discrepancy, payment schedules, operating statements, year-end projections, reconciliation and expenditure reports, cancelled checks, check stubs, moving expenses records, cost accounting reports, refund/disbursement request records, returned checks, deposit slips, travel records, credit voucher requisition records, cash balances and reconciliations, sales and cash reconciliation records, journal entries, outstanding obligations, refund/disbursement requests, receipts, and invoices.

Retention:  Monthly and quarterly reports: 1 year; All other records: 5 years.

Accounts Aging and Accounts Receivable Subsidiary Records

Number:  0472-03-002

Description:  This series provides a cumulative listing of all receivables on the accounts receivable master file and a history of charges and payments recorded for each customer on the student information system.

Retention:  7 years.

Accrual Worksheets

Number:  0472-03-003

Description:  This series documents monthly and year-to-date expenditures for each project, cost category, and line item.

Retention:  3 years after the end of the fiscal year.

Annual Budget Records

Number:  0472-03-004

Description:  This series documents the annual institutional budget provided for inclusion in its Annual Adopted Operating Budget book. This series includes: operating budget expense by categories and functions report; estimated gifts, grants, contracts and clearing account summary report; student fee income and application of funds report; statewide public service source and application of funds; other reports specified by the Chancellor's Office; and institutional budget preparation instructions.

Retention:  Annual operating budget: PERMANENT; All other records: 7 years.

Annual Financial Statements

Number:  0472-03-005

Description:  This series provides a summary and report of fiscal year operations.

Retention:  PERMANENT.

Annual Fiscal Reports

Number:  0472-03-006

Description:  This series documents annual fiscal year-end status of accounts and is used to provide the office with summary information relating to its programs. Records include: reconciliation reports; annual operating statements; and schedules of rates.

Retention:  5 years or two successive audits, whichever is longer.

Audit Report

Number:  0472-03-008

Description:  This series documents the unit's response to internal and independent management, operations, and fiscal audits. This series may include but is not limited to audit reports and written responses showing how recommended changes will be implemented.

Retention:  5 years or two successive audits, whichever is longer.

Average Daily Enrollments

Number:  0472-03-007

Description:  This series is generated each month for each fund. These records are used to determine charges for indirect costs for each fund.

Retention:  3 years after the end of the fiscal year in which the records were created.

Bids and Competitive Records

Number:  0472-03-009

Description:  This series documents the procurement of equipment and service valued in excess of bid limit. This series may include but is not limited to: acquisition specifications; acquisition justification studies and explanations; requests for proposal (RFP) forms; affidavit of publication for RFP forms; requests for invitations to bid (RFI); requests for quotes (RFQ); vendors proposals and bids; bid tabulation sheets and records for all bids received; departmental requisition forms; and competitive quotes.

Retention:  Capital improvement projects: 11 years; All other records of selected bids: 7 years; Records related to non-selected bids: 5 years after selected contract has been signed.

Budgeting Records

Number:  0472-03-010

Description:  This series documents the planning, projection, preparation, and allocation of budgets, including cooperative federal program and self-sustaining program budgets.

Retention:  Year-end budget reports: 10 years; Budget maintenance reports: 6 years; Other budget reports: 1 year; All other budget records: 5 years.

Business Office Log Out and Safekeeping Records

Number:  0472-03-011

Description:  This series documents checks processed by the office and given to another party and funds placed with the office for safekeeping in trust and their disbursement to students or departments.

Retention:  4 years.

Collection Records

Number:  0472-03-012

Description:  This series documents the office's efforts to collect unpaid accounts. Records include: collection letters; notices; letters of transmittal; and bankruptcy records.

Retention:  5 years after account is paid in full or deemed uncollectible.

Credit Card Administration Records

Number:  0472-03-013

Description:  This series documents administration of credit cards and P-Cards issued to institutional staff and units. Records may include: applications; master monthly billing statements; individual card holders' statements; billing summaries; printouts including vendor analysis by code; number of charges and stores; and use summaries.

Retention:  7 years.

Development and Endowment Management Records

Number:  0472-03-014

Description:  This series documents the revenue earned quarterly on gift accounts and fees charged by the institution's development office. Information includes: dates; gift account amounts and identification numbers; earnings; department or account responsible for payment; and fee amount.

Retention:  5 years.

Forecast and Actual Pay Reports

Number:  0472-03-016

Description:  This series documents monthly gross and actual pay by month and account number. This series includes: employee name and social security number; major account; salary code; FTE; rank; leave status; position title and class number; starting date; appointment; terms of service; tenure; and forecast and actual pay broken down by months of the fiscal year.

Retention:  4 years.

Grant Records (Non-Research)

Number:  0472-03-015

Description:  This series documents non-research grants.

Retention:  Final narrative reports: PERMANENT; All other records: 5 years after submission of final report or denial of application.

Insurance Fund Claims

Number:  0472-03-017

Description:  This series documents requests for payment of insurance claims from the Georgia Department of Administrative Services Risk Management Division. Records may include: auto/liability/property claim reports; estimates of repairs; accident reports; and police reports.

Retention:  5 years after claim paid or denied.

Insurance Policy Records

Number:  0472-03-018

Description:  This series documents insurance policies written to cover all state property, automobiles, liabilities, and special events. Records may include but are not limited to: copies of insurance policies, riders, and endorsements and records of payment.

Retention:  7 years after expiration of policy or membership.

Ledger Reports

Number:  0472-03-019

Description:  This series includes general ledger statements and operating and general ledger reconciliation records

Retention:  7 years.

Registration Fee Records

Number:  0472-03-020

Description:  This series documents the payment of registration fees. Records may include but are not limited to: completed registration forms; journal vouchers; invoices; purchase orders; and wire transfer forms.

Retention:  5 years.

Revolving Charge Agreement Records

Number:  0472-03-021

Description:  This series documents a student's agreement with the provisions of the accounts receivable revolving account and his/her intent to attend the institution. Records include agreement forms signed by each student.

Retention:  5 years after last enrollment and account is paid in full.

Staffing Reports

Number:  0472-03-022

Description:  This series documents the number of FTE positions in instruction, research, administration, public service, fellowship, and classified staff. This series consists of forms from departments showing FTE positions and office space required. The summaries include department total FTE for each of the principal activity categories listed above.

Retention:  Summaries: PERMANENT; All other records: 5 years.

Vendor History Reports

Number:  0472-03-023

Description:  This series is used for quick reference of vendor data, selection, and update pertaining to departmental and college operations. This series may include but is not limited to: reports containing vendor numbers, payee names, invoice numbers, amounts, warrant/voucher numbers, and message comments; copies of purchase orders; requisitions; and product specification sheets.

Retention:  Useful life.

University System of Georgia, 270 Washington St., Atlanta, GA  30334