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Records Retention Policy
Each type of document is listed with the length of time held. All paper files are located in the Administrative offices. All computer files are retained permanently. When the designated length of time is reached, paper documents are shredded.
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Document Retention
Type of Document | Length of Time Held |
|---|---|
Accounts payable ledgers and schedules | 7 years |
Accounts receivable ledgers and schedules | 7 years |
Audit reports of accountants | Permantly |
Bank statements | 7 years |
Capital stock and bonds records | 7 years |
Contracts and leases (expired) | 7 years |
Correspondence (general) | 7 years |
Correspondence (legal) | 7 years |
Donation records (computer) | 7 years |
Donation records (paper) | 7 years |
Employee personal records (after termination) | 7 years |
Financial statements | 7 years |
Insurance policies (expired) | 7 years |
Insurance records | Permantly |
Inventories | 7 years |
Invoices from vendors | 7 years |
Payroll records and summeries | 7 years |
Purchase orders | 7 years |
Tax returns and other documents relating to determination of tax liability | 7 years |
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