USG Records Retention Schedules
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CATEGORY: Finance Total: 23
Accounting Records
Number: 0472-03-001
Description: This series includes bank statements, purchase requests, purchase orders, requisitions, financial reports, accounts payable and receivable records, write-off records, discrepancy, payment schedules, operating statements, year-end projections, reconciliation and expenditure reports, cancelled checks, check stubs, moving expenses records, cost accounting reports, refund/disbursement request records, returned checks, deposit slips, travel records, credit voucher requisition records, cash balances and reconciliations, sales and cash reconciliation records, journal entries, outstanding obligations, refund/disbursement requests, receipts, and invoices.
Retention: Monthly and quarterly reports: 1 year; All other records: 5 years.
Accounts Aging and Accounts Receivable Subsidiary Records
Number: 0472-03-002
Description: This series provides a cumulative listing of all receivables on the accounts receivable master file and a history of charges and payments recorded for each customer on the student information system.
Retention: 7 years.
Accrual Worksheets
Number: 0472-03-003
Description: This series documents monthly and year-to-date expenditures for each project, cost category, and line item.
Retention: 3 years after the end of the fiscal year.
Annual Budget Records
Number: 0472-03-004
Description: This series documents the annual institutional budget provided for inclusion in its Annual Adopted Operating Budget book. This series includes: operating budget expense by categories and functions report; estimated gifts, grants, contracts and clearing account summary report; student fee income and application of funds report; statewide public service source and application of funds; other reports specified by the Chancellor's Office; and institutional budget preparation instructions.
Retention: Annual operating budget: PERMANENT; All other records: 7 years.
Annual Financial Statements
Number: 0472-03-005
Description: This series provides a summary and report of fiscal year operations.
Retention: PERMANENT.
Annual Fiscal Reports
Number: 0472-03-006
Description: This series documents annual fiscal year-end status of accounts and is used to provide the office with summary information relating to its programs. Records include: reconciliation reports; annual operating statements; and schedules of rates.
Retention: 5 years or two successive audits, whichever is longer.
Audit Report
Number: 0472-03-008
Description: This series documents the unit's response to internal and independent management, operations, and fiscal audits. This series may include but is not limited to audit reports and written responses showing how recommended changes will be implemented.
Retention: 5 years or two successive audits, whichever is longer.
Average Daily Enrollments
Number: 0472-03-007
Description: This series is generated each month for each fund. These records are used to determine charges for indirect costs for each fund.
Retention: 3 years after the end of the fiscal year in which the records were created.
Bids and Competitive Records
Number: 0472-03-009
Description: This series documents the procurement of equipment and service valued in excess of bid limit. This series may include but is not limited to: acquisition specifications; acquisition justification studies and explanations; requests for proposal (RFP) forms; affidavit of publication for RFP forms; requests for invitations to bid (RFI); requests for quotes (RFQ); vendors proposals and bids; bid tabulation sheets and records for all bids received; departmental requisition forms; and competitive quotes.
Retention: Capital improvement projects: 11 years; All other records of selected bids: 7 years; Records related to non-selected bids: 5 years after selected contract has been signed.
Budgeting Records
Number: 0472-03-010
Description: This series documents the planning, projection, preparation, and allocation of budgets, including cooperative federal program and self-sustaining program budgets.
Retention: Year-end budget reports: 10 years; Budget maintenance reports: 6 years; Other budget reports: 1 year; All other budget records: 5 years.
Business Office Log Out and Safekeeping Records
Number: 0472-03-011
Description: This series documents checks processed by the office and given to another party and funds placed with the office for safekeeping in trust and their disbursement to students or departments.
Retention: 4 years.
Collection Records
Number: 0472-03-012
Description: This series documents the office's efforts to collect unpaid accounts. Records include: collection letters; notices; letters of transmittal; and bankruptcy records.
Retention: 5 years after account is paid in full or deemed uncollectible.
Credit Card Administration Records
Number: 0472-03-013
Description: This series documents administration of credit cards and P-Cards issued to institutional staff and units. Records may include: applications; master monthly billing statements; individual card holders' statements; billing summaries; printouts including vendor analysis by code; number of charges and stores; and use summaries.
Retention: 7 years.
Development and Endowment Management Records
Number: 0472-03-014
Description: This series documents the revenue earned quarterly on gift accounts and fees charged by the institution's development office. Information includes: dates; gift account amounts and identification numbers; earnings; department or account responsible for payment; and fee amount.
Retention: 5 years.
Forecast and Actual Pay Reports
Number: 0472-03-016
Description: This series documents monthly gross and actual pay by month and account number. This series includes: employee name and social security number; major account; salary code; FTE; rank; leave status; position title and class number; starting date; appointment; terms of service; tenure; and forecast and actual pay broken down by months of the fiscal year.
Retention: 4 years.
Grant Records (Non-Research)
Number: 0472-03-015
Description: This series documents non-research grants.
Retention: Final narrative reports: PERMANENT; All other records: 5 years after submission of final report or denial of application.
Insurance Fund Claims
Number: 0472-03-017
Description: This series documents requests for payment of insurance claims from the Georgia Department of Administrative Services Risk Management Division. Records may include: auto/liability/property claim reports; estimates of repairs; accident reports; and police reports.
Retention: 5 years after claim paid or denied.
Insurance Policy Records
Number: 0472-03-018
Description: This series documents insurance policies written to cover all state property, automobiles, liabilities, and special events. Records may include but are not limited to: copies of insurance policies, riders, and endorsements and records of payment.
Retention: 7 years after expiration of policy or membership.
Ledger Reports
Number: 0472-03-019
Description: This series includes general ledger statements and operating and general ledger reconciliation records
Retention: 7 years.
Registration Fee Records
Number: 0472-03-020
Description: This series documents the payment of registration fees. Records may include but are not limited to: completed registration forms; journal vouchers; invoices; purchase orders; and wire transfer forms.
Retention: 5 years.
Revolving Charge Agreement Records
Number: 0472-03-021
Description: This series documents a student's agreement with the provisions of the accounts receivable revolving account and his/her intent to attend the institution. Records include agreement forms signed by each student.
Retention: 5 years after last enrollment and account is paid in full.
Staffing Reports
Number: 0472-03-022
Description: This series documents the number of FTE positions in instruction, research, administration, public service, fellowship, and classified staff. This series consists of forms from departments showing FTE positions and office space required. The summaries include department total FTE for each of the principal activity categories listed above.
Retention: Summaries: PERMANENT; All other records: 5 years.
Vendor History Reports
Number: 0472-03-023
Description: This series is used for quick reference of vendor data, selection, and update pertaining to departmental and college operations. This series may include but is not limited to: reports containing vendor numbers, payee names, invoice numbers, amounts, warrant/voucher numbers, and message comments; copies of purchase orders; requisitions; and product specification sheets.
Retention: Useful life.
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