FILE: DIE
RECORDS RETENTION
Financial records, supporting documents, statistical records and all other records pertinent to accounting and reporting for sources and uses of funds shall be retained in accordance with the Records Retention Schedule, as approved by the East Baton Rouge Parish School Board.
The table below lists the minimum time for which items should be maintained.
|
RECORDS RETENTION SCHEDULE |
4 years |
7 Years |
Permanent |
|
Accounts payable and receivable ledgers |
|
ü |
|
|
Audit report and year-end financial statements |
|
|
ü |
|
Bank reconciliations |
|
ü |
|
|
Bank statements |
|
ü |
|
|
Cancelled checks |
|
ü |
|
|
Cancelled checks (important payments) |
|
|
ü |
|
Contracts, mortgages, notes and leases: |
|
|
|
|
expired |
|
ü |
|
|
still in effect |
|
|
ü |
|
Correspondence: |
|
|
|
|
general or routine |
ü |
|
|
|
legal and important matters |
|
|
ü |
|
Deeds, mortgages, and bills of sale |
|
|
ü |
|
Depreciation schedules |
|
ü |
|
|
Duplicate deposit slips |
ü |
|
|
|
Employment applications |
ü |
|
|
|
General ledgers and year-end trial balances |
|
|
ü |
|
Insurance policies (expired) |
ü |
|
|
|
Insurance policies (current) |
|
|
ü |
|
Interim financial statements |
ü |
|
|
|
Inventory records |
|
ü |
|
|
Invoices (to customers/from customers) |
|
ü |
|
|
Minutes from Board meetings, board charter, etc. |
|
|
ü |
|
Notes receivable ledgers and schedules |
|
ü |
|
|
Payroll records and summaries |
|
ü |
|
|
Pension/profit sharing records |
|
|
ü |
|
Personnel files (terminated) |
|
ü |
|
|
Property appraisals |
|
|
ü |
|
Property records |
|
|
ü |
|
Stock and bond certificates (cancelled) |
|
ü |
|
|
Subsidiary ledgers |
|
ü |
|
|
Tax returns and related documents |
|
|
ü |
|
Time books and cards |
|
ü |
|
|
Voucher register and schedules |
|
ü |
|
|
Vouchers for payments to vendors, employees, etc. |
|
ü |
|
|
Withholding tax statements |
|
ü |
|
Records should not be destroyed when there is pending litigation or until the appropriate state or federal audits have been conducted.
Duplicate copies of records do not need to be kept if an original exists. If there is no original, only one duplicate is required to be kept.
Items to be maintained should be placed neatly in sturdy boxes. The box should contain only items that must be kept for the same length of time. Example: General/routine correspondence should not be placed in the same box as bank reconciliations. General/ routine correspondence will be destroyed in four (4) years; bank reconciliations will be destroyed in seven (7) years.
All boxes should be labeled. The label should include the location number, the school or department name, a summary of the contents, the date the box was sent to storage and the date the material is to be destroyed. Boxes sent to offsite storage without appropriate labels will be returned to the sending location.
Ref: La. Rev. Stat. Ann. §§17:196, 39:1597, 39:1598, 39:1626, 39:1627, 44:36, 44:411
East Baton Rouge Parish School Board