Policies and Procedures Manual 2024 - 2025

3.1.36 Document Retention and Destruction

The University is committed to effective records retention to preserve its history, ensure that critical records are available to meet business needs, comply with legal requirements, optimize the use of space, minimize the cost of record retention, and ensure that outdated and useless records are destroyed.  The University requires that University records be retained for specific periods of time and has designated official repositories for their maintenance. These records should be managed according to procedures that are outlined in the Document Retention Schedule.

 

Document Retention Schedule:

Document Description

Official Creator/ Repository

Retention Period (in Years)

Accounts Payable (Cks, wires, EFT, disbursement records)

Controller's Office

7

Accounts Receivable

Controller's Office

7

Annual Budget Documents

Controller's Office

7

Annual Financial Report (Audited)

Controller's Office

Permanent

Audit Work Papers

Controller's Office

7

Bank Reconciliations

Controller's Office

7

Bank Statements

Controller's Office

7

Bond Issue Docs

Controller's Office

Permanent

Cancelled Checks/Wire Transfers

Controller's Office

7

Capital Equipment Records

Controller's Office

4 years after Sale of Property/ Equipment

Capital Property Records

Controller's Office

Permanent

Chart of Accounts

Controller's Office

Permanent

Construction Contracts

Controller's Office

7

Contracts and Leases

Controller's Office

7 years after expiration

Deeds and Titles

Controller's Office

Permanent

Deposit Records

Controller's Office

7

Fixed Assets and Asset Depreciation Schedules

Controller's Office

Permanent

Determination Letter for Income Tax Exemption

Controller's Office

Permanent

States Sales Tax Exemption Letter

Controller's Office

Permanent

Federal Grant Records

Controller's Office

7 years after expiration

General Ledgers

Controller's Office

7

Credit Card Receipts

Controller's Office

3

Insurance Policies

Controller's Office

Permanent

Certificates of Insurance

Controller's Office

1

Invoices or expense records

Controller's Office

7

Monthly/Quarterly Investment Statements for Managers/Brokers

Controller's Office

7

Mortgage Records

Controller's Office

Permanent

Payroll Registers

Controller's Office

Permanent

Earnings Records

Controller's Office

7

Garnishment Records

Controller's Office

7

Payroll Tax Records

Controller's Office

7

W2 Statements

Controller's Office

7

Garnishment Records

Controller's Office

7

Property Appraisals

Controller's Office

Permanent

Property Tax Reports

Controller's Office

Permanent

Purchase Orders

Controller's Office

7

Tax Reports - 1098-T

Controller's Office

7

Tax Reports - 1099

Controller's Office

7

Tax Returns - Payroll

Controller's Office

Permanent

Tax Returns 990 and 990-T

Controller's Office

Permanent

Unclaimed Property

Controller's Office

Permanent

Check Registers

Controller's Office

7

Construction Documents

Facilities

Permanent

Fiscal Operations Report and Application to Participate (FISAP)

Financial Aid Office

5

Worker’s Compensation Claims

Human Resources

30

EEOC Investigations

Human Resources

7 years after conclusion

Employee Applications

Human Resources

1

Employee I-9

Human Resources

3 years after termination

Retirement Records

Human Resources

Permanent

Employee Policy Manual

Human Resources

Permanent

Wage and Personnel Records

Human Resources

7 years after termination

Endowment Records

Institutional Advancement

Permanent

Gift Agreements

Institutional Advancement

Permanent

Gift Receipts

Institutional Advancement

7

Private Grant Records

Institutional Advancement

7 years after expiration

Grant Applications - Denied/Declined

Institutional Advancement

3

Scholarships Agreements

Institutional Advancement

Permanent

Trusts/Bequests

Institutional Advancement

Permanent

Deceased Files

Institutional Advancement

7

 

Title IX Records

  • Investigations
  • Determinations
  • Recordings
  • Transcripts
  • Sanctions
  • Remedies
  • Appeals
  • Informal Resolutions
  • Training Materials

 

 Title IX Compliance

7

Annual Budget (in Board Books)

President's Office

Permanent

Articles of Incorporation

President's Office

Permanent

Attorney Opinion Letters

President's Office

Permanent

Attorney-Client Correspondence

President's Office

Permanent

Budget Variance Reports (in Board Books)

President's Office

Permanent

By-Laws

President's Office

Permanent

Correspondence, legal and important matters

President's Office

Permanent

Institutional Planning Records - final planning reports, proposals, goal and objective statements, and instructions and explanations of process, internal planning committee materials

President's Office

Permanent

Litigation Files, Court Documents and Records, and Discovery Materials - cases resulting in major policy modification, pleadings, final decisions, copies of records of the courts of cases considered historical

President's Office

Permanent

Minutes of Board Committee Meetings

President's Office

Permanent

Minutes of Board Meetings

President's Office

Permanent

Board Policies and Resolutions

President's Office

Permanent

Student Information System (Colleague) Student Documents

Registrar’s Office

Permanent

Printed academic documents for currently enrolled students – maintain paper documents for current semester, scan for permanent maintenance, then destroy paper documents

Registrar’s Office

Permanent for electronic documents

Printed academic documents for former students

Registrar’s Office

7 for paper and Permanent for electronic

Piedmont pre-electronic printed academic transcripts for former students

Registrar’s Office

Permanent

Undergraduate and Graduate Catalogs

Registrar’s Office

Permanent

Graduation programs

Registrar’s Office

Permanent


 

Financial Aid Retention Policy:

The University must retain all required records for a minimum of three years from the end of the award year. However, the starting point for the three-year period is not the same for all records. For example, FFEL/DL reports must be kept for three years after the end of the award year in which they were submitted, while borrower records must be kept for three years from the end of the award year in which the student last attended.

The University may retain records longer than the minimum period required. Moreover, the University may be required to retain records involved in any loan, claim, or expenditure questioned in any FSA program review, audit, investigation, or other review. If the three-year retention period expires before the issue in question is resolved, the university must continue to retain all records until resolution is reached.

There are also additional record retention requirements that apply to universities granted waivers of the audit submission requirements.

The Financial Aid Office currently keeps 10 years of financial aid records either stored in fireproof file cabinets or in the vault on the first floor of Daniel Hall.