Records Retention Schedule: Financial Resources

Transcription

1 Records Retention Schedule: Financial Resources Introduction l 1. Governance & Management 2. Financial Resources 3. Human Resources 4. Estates 5. Student Administration & Support 6. Information Services 7. Learning & Teaching 8. Research & Development 9. External Relations In financial resources: l Chief Financial Officer s Office l l Payments Services l Pension and Benefit Services l Tax Services Closed tender files Termination of supply contract awarded + 6 Contracts/ Agreements Length of contract/agreement awarded + 6 E-tender Correspondence Termination of supply contract awarded + 6 E-Auction Correspondence Termination of supply contract awarded + 6 New supplier request forms While current-supplier database Rejected suppliers-rejection + 1 year Approved suppliers-termination of approval Race Relations Questionnaires Budget Management Records Purchase card statements Length of contract/agreement months Cardholder 1

2 Purchase card correspondence/application Personal Purchase Card Monthly Log Purchase orders Lodge Card statements Strategy, policy and procedure documentation Leases Outsourcing Treasury Documents Insurance Claims Liability/Personal injury/nurture claims Property and other claims Insurance Policies Length of card holder maintaining card Cardholder Local Finance Team Cardholder Superseded + 5 Unit creating the documentation Length term of lease can be minimum 7 or lease term + 3 (35 yr plus) Estate Office 3 Estate Office Permanent retention Completion of claim + 6 Employers Liability policies should be retained and records kept of insurers to enable claims to be passed to the correct insurer. that they are handled by the insurers for the year when the incident happened, with long-tail claims such as deafness there is a long discovery period. Public liability as above with the student exposure as liability 2

3 General Correspondence for insurance Accident/incident reports where reported to HSE Crime Reports Various depending on reason for correspondence Permanent retention of copy Safety Office One year Security Office Finance: Chief Financial Officer s Office Finance committee papers Permanent retention Registrars Conveyances and deeds Retained indefinitely or until property is sold Leases Share certificates Expiration of lease + 6 Retained until sold Finance: Budget and management accounts working papers Financial statements working papers Subsidiary companies-statutory records Project records- HEFCE, UE etc. Current financial year + 12 Permanent retention Current financial year + 5 3

4 Financial Systems documentation Journals and other prime documents for financial transactions Life of system Information Services (Application Support Team) Finance: Financial Operations BACS/Bankline reports Cheque reports CITS tax returns Duplicate payment reports Invoices Journals or Current financial year + 6 where VAT involved Lodge Card reports Paper Electronic Purchase card reports Paper Electronic Current financial year + 6 Travel & Expense Services Current financial year + 6 Travel & Expense Services Pensions documentation move to Payroll & Pensions Reconciliations: Supplier statements Termination of employment

5 Reconciliations: Control accounts Supplier Master file changes Used cheque books Records documenting employees authorisation for non-statutory payroll deductions Records documenting calculation and payment of payroll payments to employees Statutory Sick Pay Scheme Statutory Maternity Pay Scheme Current tax + 6 Pension and Benefit Services Nursery Schemes ECP vouchers scheme Sports Centre Scheme Fitness Centre Scheme 5

6 Records documenting payments of the institution s employers contributions to pension schemes for its employees Records documenting payments of the Institution s employees contributions to pension schemes Termination of employment + 75 Termination of employment + 75 Tax Services Records documenting the preparation and filing of the institution s tax returns Tax Services 6