Western Libraries - Archives and Research Collections Centre: Financial Resources Schedules

Records relating to the recording of all University financial transactions. Includes general ledger, sub-ledgers, journals, journal vouchers, journal entry records, trial balance, and supporting documents.

Responsible

Financial Services

Fiscal Year + 1 year

5 years

Fiscal Year + 6 years

Selective Archival Retention

Other

All Other Units

Fiscal Year +

2 years

--

Fiscal Year +

2 years

Confidential Destruction

Selective Archival Retention = Full retention of general ledgers, sub-ledgers, journals, general ledger year-end trial balance. Full retention of journal entries unless equivalent information is available in general ledgers. Destruction of supporting documents.

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.02

ACCOUNTS PAYABLE - GENERAL

Records documenting the expenditure of monies for supplies and services on behalf of the University, and records documenting the auditing trail of these transactions. Includes cheque requisitions, cancelled cheques, payroll cheques, foreign drafts, invoices, petty cash reimbursements, and other related records.

Excludes all records relating to federally or provincially funded projects. See 3.03.

Excludes payroll records other than payroll cheques. See 3.16.

Excludes purchase requisitions and purchase orders. See 3.17.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Financial Services

Fiscal Year +1 year

5 years

Fiscal Year +6 years

Confidential Destruction

Delegated

Units authorized by Board policy, Financial Services, or equivalent

Fiscal Year + 1 year

5 years

Fiscal Year +6 years

Confidential Destruction

Other

All Other Units

Fiscal Year +2 years

--

Fiscal Year +2 years

Confidential Destruction

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.04

ACCOUNTS RECEIVABLE - GENERAL

Records documenting monies received by the University, including general revenues, tuition, fees for goods and services provided to external clients, and fines. Includes invoices, receipts, cash receipts and cash register tapes, parking permit and fine records.

Excludes all records relating to federally or provincially funded projects. See 3.05

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Financial Services

Fiscal Year + 1 year

5 years

Fiscal Year + 6 years

Confidential Destruction

Delegated

Units authorized by Board policy, Financial Services, or equivalent

Fiscal Year + 1 year

5 years

Fiscal Year + 6 years

Confidential Destruction

Other

All Other Units

Fiscal Year + 1 year

__

Fiscal Year + 1 year

Confidential Destruction

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.06

ALLOWANCES

Records documenting the administration of faculty and staff professional allowances, advances and travel expenses. Included are claim forms and supporting receipts.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Financial Services

Fiscal Year + 1 year

5 years

Fiscal Year + 6 years

Confidential Destruction

Other

All Other Units

Fiscal Year + 1 year

--

Fiscal Year + 1 year

Confidential Destruction

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.07

AUDIT

Records documenting financial audits and related reviews of financial procedures, programs and systems. Includes reports, responses and working papers.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Internal Audit

(internal audits)

Financial Services

(external audits)

Fiscal Year + 1 year

Fiscal Year + 1 year

5 years

5 years

Fiscal Year + 6 years

Fiscal Year + 6 years

Selective Archival Retention

Selective Archival Retention

Other

All Other Units

Fiscal Year + 1 year

Fiscal Year + 1 year

Selective Archival Retention

Selective Archival Retention = Full retention of internal and external audit reports and responses. Selective Archival Retention of supporting documents and working papers.

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.08

BANKING

Records relating to the management of the University’s banking. Includes account statements, bank reconciliations, and deposit slips.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Financial Services

Fiscal Year + 1 year

5 years

Fiscal Year + 6 years

Confidential Destruction

Delegated

Units authorized by Board policy, Financial Services, or equivalent

Fiscal Year + 1 year

5 years

Fiscal Year + 6 years

Confidential Destruction

Other

All Other Units

Fiscal Year + 1 year

--

Fiscal Year + 1 year

Confidential Destruction

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.09

BUDGET – UNIVERSITY-WIDE

Records relating to the planning, control and follow-up of the University’s overall capital, operating and ancillary budgets following the multi-year budget cycle. Included are approved budgets, estimates and submissions, statements of revenue and expenditures, budget statements and reports, budget plans, calculations, statistics, and working papers.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Institutional Planning & Budgeting [Operating and Ancillary Budgets]

Current

Multi-Year Budget Cycle + 1 year

5 years

Current

Multi-Year Budget Cycle + 6 years

Selective Archival Retention

Responsible

Financial Services [Capital Budget]

Current

Multi-Year Budget Cycle + 1 year

5 years

Current

Multi-Year Budget Cycle + 6 years

Selective Archival Retention

Other

All Other Units

Current

Multi-Year Budget Cycle + 2 years

--

Current

Multi-year Budget Cycle + 2 years

Confidential Destruction

Selective Archival Retention = Full retention of official versions of approved budgets, budget plans, fiscal year-end statements of expenditures, detailed budget statements (or year-end cumulative budget reports, if available). Selective retention of budget preparation and follow-up support documents. Destruction of estimates, submissions and modifications, summary budget reports, and working papers.

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.10

BUDGET – FACULTIES, DEPARTMENTS, UNITS

Unit records relating to the planning, control and follow-up of individual faculty, department and/or unit level capital and operating budgets. Included are approved budgets, estimates and submissions, statements of revenue and expenditures, budget statements and reports, budget plans, calculations, statistics, and working papers.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Originating Unit

Current Multi-Year Budget Cycle + 1 year

5 years

Current Multi-Year Budget Cycle + 6 years

Selective Archival Retention

Other

All Other Units

Fiscal Year + 2 years

--

Fiscal Year + 2 years

Confidential Destruction

Selective Archival Retention = Detailed budget statements, budget preparation and follow-up support documents.

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.11

ENDOWMENTS

Records relating to the ongoing management of endowment and subscription funds administered by the University. Includes correspondence and other records concerning the investment and use of sums of money given to the institution by individuals or organizations, for general or specific purposes.

Excludes legal agreements and other records concerning the constitution of endowments.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Financial Services

Fiscal Year + 2 years

4 years

Fiscal Year + 6 years

Selective Archival Retention

Other

All Other Units

Fiscal Year + 2 years

--

Fiscal Year + 2 years

Confidential Destruction

Selective Archival Retention = Retention of general information on the financial nature and development of each fund, including the creation, objectives, summary records and financial tables showing the financial development and portfolio composition of each fund. Destruction of supporting records.

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.12

FUNDRAISING

Records relating to the collection and administration of monies received through fundraising campaigns. Includes donor database, donor lists, lists of charitable receipts, lists of direct debits, lists of deductions at source and financial reports.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Advancement

Last Donation Entered +

2 years

5 years

Last Donation Entered +

7 years

Selective Archival Retention

Other

All Other Units

End of Campaign + 1 year

--

End of Campaign + 1 year

Selective Archival Retention

Selective Archival Retention = Retention of summary records documenting the organization and operation of fundraising campaigns, reports showing results obtained, and donor lists. Destruction of support documents.

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.13

GRANTS – GENERAL OPERATING

Records relating to the financial management of general operating grants received by the University from various levels of government. Includes financial reports, correspondence, budget amendments, and supporting documents required for the financial administration of operating grant-funded activities.

Excludes financial records relating to government grant funded projects. See 3.14

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Institutional Planning & Budgeting

Fiscal Year + 2 years

4 years

Fiscal Year + 6 years

Selective Archival Retention

Other

All Other Units

Fiscal Year + 2 years

--

Fiscal Year + 2 years

Confidential Destruction

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.15

INVESTMENTS AND LOANS

Records relating to the management of investments, loans and guarantees, including lines of credit, term loan contracts, mortgages, forward exchange contracts, swap contracts, issues of bonds or debentures, share certificates, term deposits, investment or deposit certificates, statements and reports.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Financial Services

Expiry of Investment or Loan + 2 years

5 years

Expiry of Investment or Loan + 7 years

Selective Archival Retention

Other

All Other Units

Expiry of Investment or Loan + 2 years

--

Expiry of Investment or Loan + 2 years

Confidential Destruction

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.17

PURCHASING - GENERAL

Records documenting the purchase of goods and services. Includes invoices, purchase requisitions, purchase orders, requests for Information (RFIs), Requests for Quotation (RFQs), Requests for Proposal (RFPs) and quotations.

Excludes purchasing documents related to federally or provincially funded projects. See 3.18.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Financial Services

Fiscal Year + 1 year

5 years

Fiscal Year + 6 years

Confidential Destruction

Delegated

Units authorized by Board policy, Financial Services, or equivalent

Fiscal Year + 1 year

5 years

Fiscal Year + 6 years

Confidential Destruction

Other

All Other Units

Fiscal Year + 1 year

--

Fiscal Year + 1 year

Confidential Destruction

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.19

REPORTS

Records documenting the overall financial management of University monies. Includes financial statements and management reports.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Financial Services

Fiscal Year + 2 years

8 years

Fiscal Year + 10 years

Selective Archival Retention

Other

All Other Units

Fiscal Year + 2 years

--

Fiscal Year + 2 years

Confidential Destruction

Selective Archival Retention = Full retention of annual financial statements. Destruction of support documents used in the production of financial statements and reports.

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.20

TAXES

Records relating to taxes and duties levied by various levels of government. Includes tax statements, declarations or recoveries of sales tax and GST payments, excise tax remittances, and year-end reports.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Financial Services

Fiscal Year + 1 year

5 years

Fiscal Year + 6 years

Confidential Destruction

Other

All Other Units

Fiscal Year + 1 year

--

Fiscal Year + 1 year

Confidential Destruction

Effective Date: 2006-06-26 (New)

03 – FINANCIAL RESOURCES

03.21

SPECIAL FUNDS

Records relating to endowments and donations received for specific projects, including Continuing Education projects.

Affected Unit(s)

Active Retention

Semi-Active Retention

Total Retention

Final Disposition

Responsible

Financial Services

Fiscal Year + 1 year

5 years

Fiscal Year + 6 years

Selective Retention

Other

All Other Units

Fiscal Year + 2 years

--

Fiscal Year + 2 years

Confidential Destruction

Effective Date: 2006-06-26 (New)