Record Retention and Destruction Guidelines
Medium Key:
P= Paper
E=Electronic
F=Film/fiche
H = Hardware
S=Scanned
Type of Document/Record
Account reconciliations (balance sheet)
Description/Examples
i.e. bank reconciliations, receivables,
liabilities, assets
Responsible Department
DurationDisposition
P
Controller's Office
5 Years
Medium
Accounting Reports (monthly reports)
ACR's, TDR's, Payroll Reports in VISTA
E
Controllers Office,
Owner/User department
2 Years
Accounts Payable Invoices and attachments
invoices, packing slips
P
Procurement Services
1 year
Accounts Payable Invoices and attachments
invoices, packing slips
E,S
Procurement Services
5 Years
Accounts Receivable Statements, unit
generated
Invoices generated by OSP, Service
Centers
3 Years from
submission of final
report
Annual Financial Reports
Published external Fin Statements, Internal
Financial Statements (red book), NCAA, A133, UFR
Office for Sponsored
Programs, Appropriate
department
Office of Financial Vice
President and
Treasurer, Controller's
Office
Office of the Financial Vice
President
Internal Audit
Audit documents - University Internal
IRS, Federal & Other Sponsors;
workpapers
Workpapers, reports
Assets: acquisition/disposition
appropriation documentation, invoices
Banking records
deposit and withdrawal records, bank
statements, voided and canceled checks
Audit documents - University External
P
P,E
P
P
P, E
P, E, F
Permanent
Permanent
10 Years
Life of asset or
Controllers Office/Facilities underlying debt
issue plus 5 years
Controllers Office
5 Years
v.062015
Board of Trustee & Executive Committee
Finance & Audit, Investment Committees
minutes
Certificates of insurance, indemnification
agreements, hold- harmless agreements,
contracts
Chart of Accounts
Electronic PeopleSoft
Conflict of Interest Annual Disclosure Statement Employees
Conflict of Interest Annual Disclosure
Policy forms filed for individuals
Statements - Board
P
President's Office, FVP
Permanent
P
Risk Management
7 years after
expiration
E
Controller's office
Permanent
P
Internal Audit
5 Years
P
Office of the Financial Vice
5 Years
President
Office of the Financial Vice
President, Risk
Life of contract + 7
Management, Owner
years
Department
Contracts and leases (non employment)
From Procurement, OSP, Service Centers,
Facilities
P,E
Credit Card Terminals
Wired and Wireless terminals managed by
Cash Services and loaned out to
departments on campus to process POS
credit card transactions
H
Controllers Office
P
Police Department
P
Office of the Treasurer
Life of the Asset
P, E
P
Controllers Office
Controllers Office
As mandated by
State
(1481)
Underlying debt
issue
plus 5 years
5 Years
1 Year
P, E
Controllers Office
5 Years
Gift letter agreements - original
P
Controllers Office,
Advancement
Permanent
Health Permits
P
Dining Services
1 year of active
service
Incident Reports, Accident Reports, Property
Damage Reports (except for Workers'
Compensation Reports)
P
Risk Management
3 years after report
date
F&A Proposal and supporting documentation
P, E
Office of Sponsored
Programs, Controllers
Office
3 Years after end
period of negotiated
rate
Crime Reports
Debt documents
Depreciation records / schedules
Duplicate Deposit Slips
Expense analyses and expense allocation
schedules
Tax Exempt Bonds, mortgage documents
O&M Allocation, Depreciation Allocation
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Individual contracts of
employment/compensation
If any e.g.-coaches
Insurance claims - Closed (all but workers
compensation)
Insurance policies
liability, property, worker's compensation,
D&O, other
Intake Reports
P
Office of Human
Resources, Office of the
Financial Vice President
5 years after
termination
P
Risk Management
10 Years
P
Risk Management
Permanent
P, E
Police Department
As mandated by
State
(1481)
E
Controllers Office
Life of Asset Record
Inventories - Asset Management
moveable equipment
Inventories of product, material and supplies
Dining inventories
P, E
Appropriate department
Current Year
Journal entries and back-up documentation
EVP Authorization memos, GL Journals,
Budget Transfers
P, E
Controllers Office/Budget
5 Years
P,E
OSP
Journal entries and back-up documentation
Licenses (Food, Liquor)
P
Payment Card Data
Payment Card Data (Credit Cards)
Planned gifts, real estate gifts
Trusts, life income, stock, agreements,
annuities
P, E
P
Dining Services
Appropriate department
Controllers Office
Procurement card charge documentation (Grant
Invoices, Packing Slips
Budgets)
P,E,S
Appropriate department
Procurement card charge documentation
Property appraisals
P,E,S
P
Appropriate department
Office of the Treasurer
Invoices, Packing Slips
Property deeds, easements, licenses, rights of
way, rights of first refusal, remainder interests
Property tax invoices
Purchase Orders
invoices
3 Years after filing
final
report
1 year of active
service
Immediately after
Processed and
Reconciled
Permanent
3 Years after the
end
date of the
Grant/Contract
3 Years
3 years
P
Office of the Financial Vice
Permanent
President
P
Controllers Office
P, E
Procurement
3 years unless
under
abatement
7 Years
v.062015
Sales & Meals tax returns
Street Permit Bond
P
P
Controllers Office
Risk Management
7 years
Yearly
Tax Returns
990, 990T, Mass PC, Mass 990-T, 3-ABC's
P,E
Controllers Office
Permanent
Tax return workpapers
workpapers behind tax returns
P, E
Controllers Office
Office of General Council,
Office of
Technology, Transfer &
Licensing
5 Years
Trademark and Copyright agreements
P
Permanent
Vouchers for payments to vendors, employees
Travel and Expense Reports, Support
Documents
P
Procurement Services,
Accounts Payable Dept.
Current Year or until
scanned
Workers' Compensation Claims/Reports Closed
allowances and reimbursement of
employees, advances for travel and
entertainment
P
Risk Management
Permanent
P
Risk Management
Permanent
Workers' Compensation Claims/Reports - Open
Document Destruction Review:
Boston College utilizes industry accepted standards for secure deletion. The University employs third party service providers to
securely destroy physical and electronic files. Physical files are placed in a secure storage bin for vendor destruction. All hardware
to be securely wiped (including credit card terminals) is managed by an ITS Assurance approved third party vendor. Lastly, destruction
of electronic files follow a method approved by ITS Assurance.
On an annual basis, University personnel review documents / hardware and ensure destruction in accordance with
the respective Duration - Disposition timeframes noted above. If the item can be deleted it will follow one of the
approved disposal procedures outlined.
v.062015