RECORDS/INFORMATION RETENTION AND DISPOSITION SCHEDULE 2.0 Fiscal Records. Retention Source Authority. Retention Period

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1 California State University, Long Beach RECORDS/INFORMATION RETENTION AND DISPOSITION SCHEDULE 2.0 Fiscal Records Record 2.1 ACCOUNTS PAYABLE O, F, L See Remarks. Custodian's record: Retain the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending. System then Documents related to the creation of a vendor record such as vendor data form; W-9; ACH authorization. Manager, Accounts Payable O,F,L See Remarks Retention for this specific series (vendor setup documents) is 4 years after the last financial event with the vendor. Cannot destroy while Vendor is still active Documents related to the payment for goods and services, Manager, Accounts payable CMS Chancellor s Office defines/maintains CFS

2 regardless of payment method (check; wire; ACH): Source document; evidence of approval; pertinent backup. Examples: Invoice, fee refund, travel expense reports, check request, wire request; disbursement journals; check registers. Data Base record retention for CFS PS Work papers supporting noncash debit adjustments to vendor transactions Financial Aid Disbursement CS- Link reports Manager, Accounts Payable Director, Student Financial Services 5 years 2.2 ACCOUNTS RECEIVABLE O, F, L,V See Remarks. Custodian's record: Retain the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.

3 System then Documents supporting the creation of a customer record set-up forms; billing terms Student Loan Agreement. Bursar and/or Manager, General Accounting & Student Financial Services O,F,L Retention for this specific series (customer setup documents) is 4 years after the last financial event with the customer. Cannot destroy while Customer is still active. 5 years for SFS documents Documents related to the collection of payments due to the campus; copies of invoices; correspondence. Bursar and/or Manager, General Accounting & Financial Reporting O,F,L 5 years for SFS documents 2.2.2b Documents related to payroll accounts receivable Manager, General Accounting & Financial Reporting O,F,L 5 years Analyses supporting Allowance for Doubtful accounts, writeoffs Manager General Accounting & Financial Reporting O,F See Remarks 5 years for SFS documents

4 2.2.3b Analyses supporting Allowance for Doubtful accounts, writeoffs for Student A/R Student Financial Services 5 years Work papers supporting noncash credit adjustments to Customer transactions. Student Financial Services O See Remarks 5 years for SFS documents 2.2.4b Some related work papers Manager, General Accounting & Financial Reporting 5 years for SFS documents Credit card receipts resulting from sales of goods or services Student Financial Reporting O See Remarks 5 years-all documents held by department processing credit card (only data allowed per PCI guidelines) 2.3 AUDITS F,H Documents related to financial or operational audits (GAAP; BSA); Campus' work papers generated during the audits. Manager, General Accounting & Financial Reporting See Remarks Custodian's record: Retain the fiscal year of the record item (transaction; reconciliation; form etc.) if

5 no litigation is pending. System then Audit Reports: annual audited financial statements. Manager, General Accounting & Financial Reporting Permanent Campus internal audit reports and working papers Director, Internal Auditing Services O,F 7 years after end of fiscal year in which an audit is finalized Campus Cash Handling, Petty Cash/Change Fund Audits 2.4 AUXILIARY ENTERPRISE RECORDS Student Financial Services O,F See Remarks 5 years O,F,L See Remarks Custodian's record: Retain the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.

6 System then Resident records such as signed license agreements; meningitis informed consent releases Director, Housing and Residential Life There are no meningitis informed consent release forms at campus Parking permit records, such as applications; guest pass request; temporary ADA requests; permit reconciliation reports. Student Financial Services O,F See Remarks Parking citation records, including appeals; administrative hearings; DMV reports. Chief, University Police Parking/Transportation and Support Services

7 2.4.3b 2.4.3c Guest pass requests, payroll deduction, citations paid by individuals, DMV payments Journal Entries for guest permits, pay station coupon code charges, reconciliations (admin fee), citation refunds Student Financial Services Parking, Transportation and Support Services Receipts and cashiering reconciliation report. Student Financial Services O,F 5 years Pertinent reports such as Lost and Stolen Permits. Student financial Services O,F 2 years 2.5 BANKING & INVESTING O,F See Remarks Custodian's record: Retain the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.

8 System then Bank statements, canceled checks; bank charges; bank reconciliations; remittance advices. Manager, General Accounting & Financial Reporting Cash adjustments/corrections Student Financial Services 2.6 BUDGET DOCUMENTS O,F See Remarks Custodian's record: Retain the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending. System then Documents used in the preparation of the campus' annual budget, such as working Director, Budget Management

9 files and spreadsheets; correspondence Campus additional documents used in the preparation of the campus annual budget, such as working files and spreadsheets; correspondence. Enrollment planning documentation and related revenue projection. Resource Planning Process (RPP) documentation Campus Resource Allocation Information. Budget Office revenue & expenditure information (GF001, MTXXX, ERXXX) IPEDS College Affordability and Transparency Explanation Information provided by the budget office for reporting. Working files for Budget Compensation allocations. CSU Campus carry-forward expenditure plans. Director, Budget Management

10 CSU Benchmarking salary survey reporting requests. Federal Work Study year end department budgeting/expenditure information. CALPERS retirement adjustments for CSULB employees Final Budget Submission; Allocations; Annual Plan. CSULB FIRMS Annual Budget Submission to the Chancellor s Office. CSU Budget funding allocation models. Director, Budget Management 2.7 BUSINESS PROCUREMENT CARD RECORDS O,F,L See Remarks Custodian's record: Retain the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.

11 System then Documents related to purchases made by the Campus using a p- card, such as original statements, receipts, reconciliations. Director, Purchasing 2.8 CASH RECEIPTS O, F, L See Remarks Custodian's record: Retain the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending. System then Documentation for payments received (including fees, permits, etc.) such as cash Student Financial Services 5 years

12 register records, deposit slips; courier records; ticket records; cash journals or logs; cash reconciliations. 2.9 CLOSING OF THE BOOKS RECORDS O,F See remarks Custodian's record: Retain the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending. System then Documents related to the monthly, quarterly and annual analysis of accounts including reconciliations, journal entries, transaction journals; work papers. Manager, General Accounting & Financial Reporting

13 2.10 CONTRACTS AND PROCUREMENT O,F,L,V See Remarks Custodian's record: Retain the fiscal year in which the contract is completed or terminated. System then Documents related to the acquisition of supplies, services, IT resources, space and facilities, and leasing of real property, such as requisitions; bids and proposals; purchase orders; contracts; leases; receiving reports; MOU's; licenses Facility Use Agreements/Film Permits executed for Event Services, College of the Arts Director of Purchasing Assistant VP, Administration and Finance

14 Facility Use Agreements/Film Permits executed for Athletics Department Director of Events, Athletics Facility Use Agreements executed for Earl Burns Miller Japanese Garden Facility Use Agreements executed for Housing and Residential Life Director EBM Japanese Garden Director Housing and Residential Life 2.11 DEBT O,F,L,H,V Education Code and Bond Indenture; See Remarks. Custodian's record: Retain the fiscal year in which the bonds are paid off or redeemed. System then Documents related to non-state funding (CSU-issued bonds, equipment financing) such as Manager, General Accounting & Financial Reporting

15 official statements; debt service schedules; loan agreements FINANCIAL REPORTS O,F,L See Remarks Custodian's record: Retain the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending. System then Documents that relate to the status of accounts at month, quarter or year-end such as FIRMS submissions, IPEDS financial reports; SCO tab runs; general ledgers; A/R, A/P and fixed asset sub-ledgers. Manager, General Accounting & Financial Reporting

16 2.13 INTERNAL CONTROL COMPLIANCE O,F,V See Remarks Custodian's record: Retain the fiscal year containing the last financial event that the document supports, if no litigation is pending. System then Non-financial records that show compliance with internal control procedures, such as Delegations of ; signature authorizations; electronic banking rights; PeopleSoft user rights; Trust Agreements Fiscal impropriety cases reported under Executive Order (Not used) Manager, General Accounting & Financial Reporting Director, Internal Auditing Services O,L

17 2.15 METHODOLOGIES O,F,L,H,V See Remarks Custodian's record: Retain the fiscal year in which the record is inactivated, if no litigation is pending. System then Documents that illustrate the reasoning and argumentation behind decisions made or actions taken, such as cost allocation methodologies; interest earnings allocations; Reserve Justifications CCPE -Documentation to support the direct allocations charged to extended education programs Assoc. Vice President, Financial Management Dean, College of Continuing and Professional Education Retain for 4 years from the end of the fiscal year containing the last financial event that the document supports, if no litigation is pending.

18 CCPE - Market Studies to justify the appropriateness of fee increases Dean, College of Continuing and Professional Education Retain for 4 years from the end of the fiscal year containing the last financial event that the document supports, if no litigation is pending CCPE - Category V fee related documentation, such as statements for revenues and expenditures that support the fee request/change CCPE - Documentation to support program development costs and other cost categories CCPE - Partnership agreements that reflect the campus partners allocation percentages Dean, College of Continuing and Professional Education Dean, College of Continuing and Professional Education Dean, College of Continuing and Professional Education Retain for 4 years from the end of the fiscal year containing the last financial event that the document supports, if no litigation is pending. Retain for 4 years from the end of the fiscal year containing the last financial event that the document supports, if no litigation is pending. Retain for 4 years from the end of the fiscal year containing the last financial event that the document supports, if no litigation is pending.

19 2.16 PEOPLESOFT DOCUMENTATION O,F,H,V See Remarks Custodian's record: Retain the fiscal year in which the record is inactivated, if no litigation is pending. System then destroy Documents relating to Finance Application such as configuration/setup; requests to create chart field elements; user manuals. Director of Financial Management Information Systems All documents related to PeopleSoft access control and Segregation of Duties PeopleSoft scripts Director, Internal Auditing Services O,F 12/8/2011 CO Memo re: Annual Access Control and Segregation of Duties Review 2 years

20 Finance Application Form (CFS PeopleSoft/Data Warehouse) FIS Help Desk O,F,L Campus Practice Retain for 2 fiscal years. Fiscal year retention begins from the beginning of fiscal year in which inactivation occurred (Not use) 2.18 STUDENT FINANCIAL RECORDS O, F, L Documents relating to enrollment or registration (such as disenrollment listing; registration refund petitions) Documents relating to Tuition and Fee charges (such as dishonored checks; promissory notes; aging and balancing reports; collection attempts) Documents relating to financial aid (such as stop payment requests; direct deposit / ACH transmissions; authorizations for educational line of credit loans) Student Financial Services O,F "AACRAO"; see Retention Schedule 4 Student Financial Services O,F "AACRAO"; see Retention Schedule 4 Student financial Services O,F "34 CFR "; see Retention Schedule 4 2 years 5 years after graduation or date of last attendance. 3 years after award.

21 Documents relating to Student Athletes (such as scholarship payment authorizations for athletic Grant in Aid and ASI checks) Assoc. Athletics Director (interim)/compliance "Best Practice"; see Retention Schedule 4 6 years after initial CSU enrollment or 2 years from last enrollment, whichever is longer. (CSU) 7 years from initial CSULB Enrollment Perkins Loans documents (Entrance, Exit, Award, Advances & Paid in full) Financial Aid Disbursements- MPA (monthly Pymt Activity) reconciliation report from CSAC Web Grants Student Financial Services O,F "AACRAO"; see Retention Schedule 4 Student Financial Services O, F "AACRAO"; see Retention Schedule 4 O,F 3 years 3 years CSAC web grants records Student Financial Services 3 years 2.19 TAX ITEMS Documents related to the filing of information with taxing authorities such as the IRS and State Franchise Tax Board. Including 1098T, 1099, etc Manager, Accounts Payable O,F,L IRC Section 6501(e)(1)(A); See Remarks. Custodian's record: Retain for 6 years.

22 System then T Director, Student Financial services 7 years Remarks: ELECTRONIC Versus HARDCOPY Retention standards apply regardless of whether the record is created or maintained in paper or electronic format. All records must be maintained in a readable format regardless of changes in technology or equipment obsolescence. Hardcopy versus Electronic: Electronic copies satisfy the law for enforceability of a transaction and as evidence in a dispute. Civil Code Sections et seq. and Evidence Code Section VERIFICATION OF IMAGED DOCUMENTS; WHEN TO SHRED THE ORIGINAL ; Physical documents must not be destroyed until their scanned images have been sufficiently examined for completeness, clarity and accuracy for indexing. Shredding should be suspended at any time that the reliability of the process or the stability of the system is in question. RETENTION PERIOD Different retention periods exist for fiscal records, depending on the underlying Funding Source. If an activity s Funding Source is a bond, the retention period is extremely long. Contact Capital Planning, Design and Construction for guidance. If an activity s Funding Source is a grant, the retention period is somewhat long. Refer to Retention Schedule #10 Research and Sponsored Programs for guidance.

23 For all funding sources, the retention periods reflected here apply, as default. The 4 - year retention period recommended for most of the Fiscal Record categories is based on the following considerations. 1. The IRS requirement to retain records for up to 6 years (CSU files tax returns on its Unrelated Business Income and must be able to support the reported activity in the event of an audit). 2. Though CSU must have its procurement practices audited every 5 years (ED Code 89045), the SCOPE of those audits is never more than 3 years. 3 years of data will suffice per M. Schlack. 3. Review of other Universities retention periods, which generally ranged from 3 to 6 years. 4. CSU s annual cost of storing records off-site, which could be upwards of $650,000; 3 locations were polled; their average annual cost was $27K. 24 locations X $27K = $648K. 5. An intent to keep the number of retention rules minimal (for easier implementation), and acceptance that some records will be retained longer than technically needed. Property & Equipment Records: Separate category not needed; redundant. Expensed items will be in 2.01 A/P; Capitalized items and depreciation will be in 2.03 Audits. LOCAL CONTACT AND PHONE Campuses utilizing this schedule may find it helpful to add columns to the right to insert local contacts (subject matter experts) for each of the record categories. Notes: Italic text Indicates CSU Long Beach campus specific modifications to this schedule. Record s: O Operational, F Fiscal, L Legal, H Historical, V Vital