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California State University, Long BeachCalifornia State University, Long Beach

Information Security

2.0 Fiscal Records

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Record Identifier Record Title Custodian of Records Record Value Retention Source Authority Retention Period

2.1

ACCOUNTS PAYABLE

 

 O, F, L

 See Remarks.

Custodian's record: Retain for 4 years from the end of the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.1.1

Documents related to the creation of a vendor record such as vendor data form; W-9; ACH authorization.

Manager, Accounts Payable

O,F,L

 See Remarks

retention for this specific series (vendor setup documents) is 4 years after the last financial event with the vendor. Cannot destroy while Vendor is still active.

2.1.2

Documents related to the payment for goods and services, regardless of payment method (check; wire; ACH): Source document; evidence of approval; pertinent backup.   Examples:  Invoice, fee refund, travel expense reports, check request, wire request; disbursement journals; check registers.

Manager, Accounts payable

 

 

CMS Chancellor’s Office defines/maintains CFS Data Base record retention for CFS PS.

2.1.3

Work papers supporting non-cash debit adjustments to vendor transactions.

Manager, Accounts Payable

2.1.4

Financial Aid Disbursement CS-Link reports

Director, Student Financial Services

5 years

2.2

ACCOUNTS RECEIVABLE 

O, F, L ,V

 See Remarks.

Custodian's record: Retain for 4 years from the end of the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.2.1

Documents supporting the creation of a customer record set-up forms; billing terms Student Loan Agreement.

Bursar and/or
Manager,
General Accounting & Student Financial Services

O,F,L  

 

Retention for this specific series (customer setup documents) is 4 years after the last financial event with the customer. Cannot destroy while Customer is still active.
5 years for SFS documents

2.2.2

Documents related to the collection of payments due to the campus; copies of invoices; correspondence.

Bursar and/or Manager,
General Accounting & Financial Reporting

O,F,L

5 years for SFS documents

2.2.2b

Documents related to payroll accounts receivable

Manager, General Accounting & Financial Reporting

O,F,L

5 years

2.2.3

Analyses supporting Allowance for Doubtful accounts, write-offs

Manager General Accounting & Financial Reporting

O,F

See Remarks

5 years for SFS documents

2.2.3b

Analyses supporting Allowance for Doubtful accounts, write-offs for Student A/R

Student Financial Services

5 years

2.2.4

Work papers supporting non-cash credit adjustments to Customer transactions.

Student Financial Services

O

 See Remarks

5 years for SFS documents

2.2.4b

Some 2.2.4 related work papers

Manager General Accounting & Financial Reporting

5 years for SFS documents

2.2.5

Credit card receipts resulting from sales of goods or services

Student Financial Reporting

O

See Remarks

5 years-all documents held by department processing credit card (only data allowed per PCI guidelines)

2.3

 

AUDITS

 

F,H

  

2.3.1

Documents related to financial or operational audits (GAAP; BSA); Campus' work papers generated during the audits.

Manager, General Accounting & Financial Reporting

 See Remarks

Custodian's record: Retain for 4 years from the end of the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.3.2

Audit Reports: annual audited financial statements.

Manager, General Accounting & Financial Reporting

Permanent

2.3.3

Campus internal audit reports and working papers

Director, Internal  Auditing Services

O,F

7 years after end of fiscal year in which an audit is finalized.

2.3.4

Campus Cash Handling, Petty Cash/Change Fund Audits

Student Financial Services

O,F

See Remarks

5 years

2.4

AUXILIARY ENTERPRISE RECORDS

 

O,F,L

See Remarks

Custodian's record: Retain for 4 years from the end of the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.4.1

Resident records such as signed license agreements; meningitis informed consent releases
There are no  meningitis informed consent release forms at campus

Director, Housing and Residential Life

2.4.2

Parking permit records, such as applications; guest pass request; temporary ADA requests; permit reconciliation reports.

Student Financial Services

O,F

See Remarks

 

2.4.3

Parking citation records, including appeals; administrative hearings; DMV reports.

Chief, University Police Parking/Transportation and Support Services

 

2.4.3b

Guest pass requests, payroll deduction, citations paid by individuals, DMV payments

Student Financial Services

2.4.3c

Journal Entries for guest permits, pay station coupon code charges, reconciliations (admin fee), citation refunds

Parking, Transportation and Support Services

2.4.4

Receipts and cashiering reconciliation report.

Student Financial Services

O,F

 

5 years

2.4.5

Pertinent reports such as Lost and Stolen Permits.

Student Financial Services

O,F

 

2 years

2.5

BANKING &  INVESTING

O,F

See Remarks

Custodian's record: Retain for 4 years from the end of the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.5.1

Bank statements, canceled checks; bank charges; bank reconciliations; remittance advices.

Manager, General Accounting & Financial Reporting

2.5.2

Cash adjustments/corrections

Student Financial Services

 

 

 

2.6

BUDGET DOCUMENTS

 

O,F

 See Remarks

Custodian's record: Retain for 4 years from the end of the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.6.1

Documents used in the preparation of the campus' annual budget, such as working files and spreadsheets; correspondence.

Director, Budget Management

2.6.1.1

Campus additional documents used in the preparation of the campus’ annual budget, such as working files and spreadsheets; correspondence.
• Enrollment planning documentation and related revenue projection.
• Resource Planning Process (RPP) documentation
• Campus Resource Allocation Information.
• Budget Office revenue & expenditure information (GF001, MTXXX, ERXXX)
• IPEDS – College Affordability and Transparency Explanation – Information provided by the budget office for reporting.
• Working files for Budget Compensation allocations.
• CSU Campus carry-forward expenditure plans.
• CSU Benchmarking salary survey reporting requests.
• Federal Work Study year end department budgeting/expenditure information.
• CALPERS retirement adjustments for CSULB employees.

Director, Budget Management

2.6.2

Final Budget Submission; Allocations; Annual Plan.
• CSULB FIRMS Annual Budget Submission to the Chancellor’s Office.
• CSU Budget funding allocation models.

Director, Budget Management

2.7

BUSINESS PROCUREMENT CARD RECORDS

 

O,F,L

 See Remarks

Custodian's record: Retain for 4 years from the end of the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.7.1

Documents related to purchases made by the Campus using a p-card, such as original statements, receipts, reconciliations.

Director, Purchasing

2.8

CASH RECEIPTS
 

O, F, L

See Remarks

Custodian's record: Retain for 4 years from the end of the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.8.1

Documentation for payments received (including fees, permits, etc.) such as cash register records, deposit slips; courier records; ticket records; cash journals or logs; cash reconciliations.

Student Financial Services

 

5 years

2.9

CLOSING OF THE BOOKS RECORDS

O,F

 See remarks

Custodian's record: Retain for 4 years from the end of the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.9.1

Documents related to the monthly, quarterly and annual analysis of accounts including reconciliations, journal entries, transaction journals; work papers.
 

Manager, General Accounting & Financial Reporting

2.10

CONTRACTS AND PROCUREMENT

 

O,F,L,V

See Remarks

Custodian's record: Retain for 4 years from the end of the fiscal year in which the contract is completed or terminated.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.10.1

Documents related to the acquisition of supplies, services, IT resources, space and facilities, and leasing of real property, such as requisitions; bids and proposals; purchase orders; contracts; leases; receiving reports; MOU's; licenses.

Director of Purchasing

2.10.2

Facility Use Agreements/Film Permits executed for Event Services, College of the Arts

Assistant VP, Administration and Finance

2.10.3

Facility Use Agreements/Film Permits executed for Athletics Department

Director of Events, Athletics

2.10.4

Facility Use Agreements executed for Earl Burns Miller Japanese Garden

Director EBM Japanese Garden

2.10.5

Facility Use Agreements executed for Housing and Residential Life

Director Housing and Residential Life

2.11

DEBT

 

O,F,L,H,V

Education Code 90010 and Bond Indenture; See Remarks.

Custodian's record: Retain for 4 years from the end of the fiscal year in which the bonds are paid off or redeemed.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.11.1

Documents related to non-State funding (CSU-issued bonds, equipment financing) such as official statements; debt service schedules; loan agreements.

Manager, General Accounting & Financial Reporting

2.12

FINANCIAL REPORTS

 

O,F,L

See Remarks

Custodian's record: Retain for 4 years from the end of the fiscal year of the record item (transaction; reconciliation; form etc.) if no litigation is pending.

Duplicates: Retain for current fiscal year then destroy.

Imaged documents: Retain until verified to the Imaging System then destroy.

2.12.1

Documents that relate to the status of accounts at month, quarter or year-end such as FIRMS submissions, IPEDS financial reports; SCO tab runs; general ledgers; A/R, A/P and fixed asset sub-ledgers.

Manager, General Accounting & Financial Reporting

2.13

INTERNAL CONTROL COMPLIANCE

O,F,V

See Remarks

Custodian's record: Retain for 4 years from the end of the fiscal year containing the last financial event that the document supports, if no litigation is pending.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.13.1

Non-financial records that show compliance with internal control procedures, such as Delegations of Authority; signature authorizations; electronic banking rights; PeopleSoft user rights; Trust Agreements.

Manager, General Accounting & Financial Reporting

2.13.2

Fiscal impropriety cases reported under Executive Order 813

Director, Internal Auditing Services

O,L

2.14

(Not used)

 

 

2.15

METHODOLOGIES

 

O,F,L,H,V

See Remarks

Custodian's record: Retain for 4 years from the end of the fiscal year in which the record is inactivated, if no litigation is pending.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

 2.15.1

Documents that illustrate the reasoning and argumentation behind decisions made or actions taken, such as cost allocation methodologies; interest earnings allocations; Reserve Justifications.

Assoc. Vice President, Financial Management

 

 

2.15.2

CCPE -Documentation to support the direct allocations charged to extended education programs

Dean, College of Continuing and Professional Education

Retain for 4 years from the end of the fiscal year containing the last financial event that the document supports, if no litigation is pending.

2.15.3

CCPE - Market Studies to justify the appropriateness of fee increases

Dean, College of Continuing and Professional Education

Retain for 4 years from the end of the fiscal year containing the last financial event that the document supports, if no litigation is pending.

2.15.4

CCPE - Category V fee related documentation, such as statements for revenues and expenditures that support the fee request/change

Dean, College of Continuing and Professional Education

Retain for 4 years from the end of the fiscal year containing the last financial event that the document supports, if no litigation is pending.

2.15.5

CCPE - Documentation to support program development costs and other cost categories

Dean, College of Continuing and Professional Education

Retain for 4 years from the end of the fiscal year containing the last financial event that the document supports, if no litigation is pending.

2.15.6

CCPE - Partnership agreements that reflect the campus partners’ allocation percentages

Dean, College of Continuing and Professional Education

Retain for 4 years from the end of the fiscal year containing the last financial event that the document supports, if no litigation is pending.

2.16

PEOPLESOFT DOCUMENTATION

 

O,F,H,V

See Remarks

Custodian's record: Retain for 4 years from the end of the fiscal year in which the record is inactivated, if no litigation is pending.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy

2.16.1

Documents relating to Finance Application such as configuration/setup; requests to create chart field elements; user manuals.

Director of Financial Management Information Systems

2.16.2

All documents related to PeopleSoft access control and Segregation of Duties PeopleSoft scripts

Director, Internal Auditing Services

O,F

12/8/2011 CO Memo re: Annual Access Control and Segregation of Duties Review

2 years

2.16.3

Finance Authority Application Form (CFS PeopleSoft/Data Warehouse)

FIS Help Desk

O,F,L

Campus Practice

Retain for 2 fiscal years. Fiscal year retention begins from the beginning of fiscal year in which inactivation occurred.

2.17

(Not use)

 

2.18

STUDENT FINANCIAL RECORDS

O, F, L

2.18.1

Documents relating to enrollment or registration (such as disenrollment listing; registration refund petitions)

Student Financial Services

O,F

"AACRAO"; see Retention Schedule 4

2 years

2.18.2

Documents relating to Tuition and Fee charges (such as dishonored checks; promissory notes; aging and balancing reports; collection attempts)

Student Financial Services

O,F

 "AACRAO"; see Retention Schedule 4

5 years after graduation or date of last attendance.

2.18.3

Documents relating to financial aid (such as stop payment requests; direct deposit / ACH transmissions; authorizations for educational line of credit loans)

Student Financial Services

O,F

"34 CFR 668.24"; see Retention Schedule 4

3 years after award.

2.18.4

Documents relating to Student Athletes (such as scholarship payment authorizations for athletic Grant in Aid and ASI checks)

Assoc. Athletics Director (interim)/Compliance

"Best Practice"; see Retention Schedule 4

6 years after initial CSU enrollment or 2 years from last enrollment, whichever is longer. (CSU)
7 years from initial CSULB Enrollment.

2.18.5

Perkins Loans documents (Entrance, Exit, Award, Advances & Paid in full)

Student Financial Services

O,F

"AACRAO"; see Retention Schedule 4

3 years

2.18.6

Financial Aid Disbursements- MPA (monthly Pymt Activity) reconciliation report from CSAC Web Grants

Student Financial Services

O, F

"AACRAO"; see Retention Schedule 4
O,F

3 years

2.18.7

CSAC web grants records

Student Financial Services

3 years

2.19

TAX ITEMS

2.19.1

Documents related to the filing of information with taxing authorities such as the IRS and State Franchise Tax Board. Including 1098T, 1099, etc

Manager, Accounts Payable

O,F,L

IRC Section 6501(e)(1)(A); See Remarks.

Custodian's record: Retain for 6 years.
Duplicates: Retain for current fiscal year then destroy.
Imaged documents: Retain until verified to the Imaging System then destroy.

2.19.2

1098T

Director, Student Financial services

 

7 years

Remarks:

ELECTRONIC Versus HARDCOPY

Retention standards apply regardless of whether the record is created or maintained in paper or electronic format.

All records must be maintained in a readable format regardless of changes in technology or equipment obsolescence.

Hardcopy versus Electronic:  Electronic copies satisfy the law for enforceability of a transaction and as evidence in a dispute.

Civil Code Sections 1633.1 et seq. and Evidence Code Section 1521.

VERIFICATION OF IMAGED DOCUMENTS; “WHEN TO SHRED THE ORIGINAL”;

Physical documents must not be destroyed until their scanned images have been sufficiently examined for completeness, clarity and accuracy for indexing. Shredding should be suspended at any time that the reliability of the process or the stability of the system is in question.

RETENTION PERIOD

Different retention periods exist for ‘fiscal records’, depending on the underlying Funding Source.

If an activity’s Funding Source is a bond, the retention period is extremely long. Contact Capital Planning, Design and Construction for guidance.

If an activity’s Funding Source is a grant, the retention period is somewhat long.  Refer to Retention Schedule #10 Research and Sponsored Programs for guidance.

For all funding sources, the retention periods reflected here apply, as “default .

The 4 - year retention period recommended for most of the Fiscal Record categories is based on the following considerations.

  1. The IRS requirement to retain records for up to 6 years (CSU files tax returns on its Unrelated Business Income and must be able to support the reported activity in the event of an audit).
  2. Though CSU must have its procurement practices audited every 5 years (ED Code 89045), the SCOPE of those audits is never more than 3 years.  3 years of data will suffice per M. Schlack.
  3. Review of other Universities’ retention periods, which generally ranged from 3 to 6 years.
  4. CSU’s annual cost of storing records off-site, which could be upwards of $650,000; 3 locations were polled; their average annual cost was $27K.  24 locations X $27K = $648K.
  5. An intent to keep the number of retention rules minimal (for easier implementation), and acceptance that some records will be retained longer than technically needed.

Property & Equipment Records: Separate category not needed; redundant. Expensed items will be in 2.01 A/P; Capitalized items and depreciation will be in 2.03 Audits.

LOCAL CONTACT AND PHONE

Campuses utilizing this schedule may find it helpful to add columns to the right to insert “local contacts” (subject matter experts) for each of the record categories.

Notes:

Italic text Indicates CSU Long Beach campus specific modifications to this schedule.

Record Values: O – Operational, F – Fiscal, L – Legal, H – Historical, V – Vital

Revision History

  1. Final: 7/27/2017
  2. Revised: 3/28/2017 (CSULB)