Finance & Administration Records Retention Policy
The purpose of this policy is to ensure that necessary records and documents are adequately
protected and maintained and to ensure that records that are no longer needed or of no value
are discarded at the appropriate time.
Pacific University operates in a fiscal year beginning July 01, XX through June 30, XX.
The retention schedule below indicates the minimum retention period per law/regulation
of which we are aware.
PERM-Permanent
CY-Current Fiscal Year
ENR-Enrolled
ACT-Active
Document Type
Retention Period
Accounts Payable
Accounts Payable Ledger & Schedules
Vouchers-Payables
Cancelled Checks-General and PR
AP Check Registers/Voucher Register
Petty Cash Vouchers/Expense Reports
Purchase Orders
1099 and Reports
6 years+ CY
6 years+ CY
6 years+ CY
6 years+ CY
6 years+ CY
6 years+ CY
6 years+ CY
Accounts Receivable
Accounts Receivable Ledgers & Schedules
Student AR Tuition & Fee chgs
Student Repayment History
Uncollected Accounts-Includes write-offs
AR Aging Reports
Student General Deposits
Student Promissory Notes (pd in full)
Unpaid Student Promissory Notes
AR-NON AR Transactions
Deposit Slips & Visa Slips
1098T and Reports
Tuition Reconciliations
Housing/Meals Reconciliations
6 years+ CY
ENR + 6 years
ENR + 6 years
6 years+ CY
6 years+ CY
6 years+ CY
CY + 3 years
PERM
6 years+ CY
6 years+ CY
PERM
6 years+ CY
6 years+ CY
1
Study Abroad Reconciliations
6 years+ CY
Misc Receivable
Clinic Receivables
Misc Accounts Receivables
Benefactor Receipts/Reconciliations-University Relations
FISOP Reports
6 years+ CY
6 years+ CY
6 years+ CY
3 years+ CY
Accounting
Unclaimed Property Filings (includes support documentation)
Bank Statements
Bank Recons & Support
Petty Cash-Reconciliation & Support
Payroll Accruals
Inventory
Journal Entries
Pooling Reports
General ledger, Year End Trial Balance
Chart of Accounts
Financial Statements
990T & Support
Auditor Reports
6 years+ CY
6 years+ CY
6 years+ CY
6 years+ CY
6 years+ CY
6 years+ CY
6 years+ CY
6 years+ CY
PERM
PERM
PERM
PERM
PERM
Payroll/Human Services
Employee Files
Payroll Records and Summaries
EEO-1 Forms(Hired)
EEO-1 Forms(Terminated)
Applicant Files
W-2’s and Payroll Tax Returns
Employment Applications
Garnishments
Personnel Files (terminated)
Retirement and Pension Records
Requisitions
Timesheets/Cards
10 years
7 years
3 years
1 year
1 year
PERM
3 years
7 years
7 years
PERM
1 year
7 years
Contracts/Agreements
Government Grant Files
Bonds
Private Grant Files
Life Income Agreements
Life Income Stmts/Recons
Gift Annuity Agreements
Gift Annuity Stmts/Recons
Trust Account Agreements
6 years+ CY
PERM
6 years+ CY
PERM
6 years+ CY
PERM
6 years+ CY
PERM
2
Trust Account Stmts/Recons
Endowment Records ( and other permanently restricted asset records)
Leases-Active
Expired Contracts, Mortgages, notes and leases
Contracts, Mortgages, notes in effect
EBSCO
6 years+ CY
PERM
PERM Until Expired
6 years+ CY
PERM
PERM
Capital Property Records
Amortization of LH Improvements
Depreciation Schedules
Property Tax Exemption Records
Inventory
Mortgage, Bonds, LT Debt Agreements
Disbursements that support tax-exempt bond proceeds
Property Improvement Record
Sales of Property
Property records-Blueprints/costs
PERM
PERM
6 years+ CY
6 years+ CY
PERM
PERM
PERM
6 years+ CY
PERM
Institutional & Legal Documents
Correspondence -General
Correspondence-Contributions
Deeds & Titles
Insurance Records (Expired)
Insurance Records (Current)
Insurance Claims
Corporate Stock-Edward Jones
Articles of Incorporation
Charter
By Laws
Board of Trustee Committee Minutes/Materials
Licenses
Expired Licenses
Procedures
Patent/Trademark Records
Legal and important Matters
2 years
6 years+ CY
PERM
6 years+ CY
PERM Until Expired
6 years+ CY
ACT + 6 years
PERM
PERM
PERM
PERM
PERM
ACT + 6 years
PERM
PERM
PERM
3