Accountability & Transparency

Student at the computer.

Records Retention & Destruction Policy

It is the policy of the Blind Children’s Center that its records be retained only so long as they are (1) necessary to the current conduct of the Center’s business; (2) required to be retained by statute or government regulation; or (3) relevant to pending or foreseeable investigations or litigation. In furtherance of this policy, the Center has adopted the attached Record Retention Schedule and the following principles and procedures for its Record Management Program, which shall be strictly observed by the organization, its officers, Board of Directors, staff and committee members.

1. The responsibility for administering the Blind Children’s Center’s Record Management Program in accordance with this policy is designated to the Executive Director, who shall have the title Supervisor of Record Retention. In addition, the Supervisor of Record Retention, with the assistance of legal counsel, shall be responsible for an annual audit of the program.

2. Destruction of specific records shall be carried out only in accordance with the authority of the Supervisor of Record Retention.

3. All records, including those maintained on electronic data processing storage media, shall be covered by this policy.

4. Despite any retention periods specified in the attached Record Retention Schedule, all records shall be retained for at least the minimum period as stated in applicable state or federal laws or regulations. Once the period for office retention of records has passed, a determination will need to be made whether the records fall under the Archives Policy and should be transferred there.

5. The destruction of records shall be suspended immediately upon receipt of legal process or other notice of pending or foreseeable investigations or litigation, whether government or private. In addition, upon such notice, all of the Center’s records shall be secured immediately in order to prevent deliberate destruction of documents. No such suspension of the Center’s Record Management Program shall be lifted except upon the written authorization of legal counsel.

6. Requests for exemptions from the Program should be submitted to the Executive Director and legal counsel. Exemptions will be given only in accordance with the basic objectives of this Policy Statement.

7. The Executive Director, with the assistance of legal counsel, shall be responsible for interpreting this Policy Statement for application to specific situations.

Nature of RecordRetention Period
Accounts payable ledgers & schedules7 years
Accounts receivable ledgers & schedules7 years
Audit reports of accountantsPermanently
Bank reconciliations1 year
Cash booksPermanently
Charts of accountsPermanently
Checks – cancelled (see exception below)7 years
Checks – cancelled (for important payments such as income taxes‚ purchase of property‚ special contracts‚ retain with related records of the underlying transaction)Permanently
Contracts & leases (expired)3 years
Correspondence (routine) with customers or vendors1 year
Correspondence (general)3 years
Correspondence (legal & important matters only)Permanently
Deeds‚ mortgages & bills of salePermanently
Depreciation schedulesPermanently
Duplicate deposit slips1 year
Employment personnel records (after employee termination)3 years
Employment applications3 years
Expense analyses & expense distribution schedules7 years
Financial statements (end of year – other months optional)Permanently
General & private ledgers (& end-of-year trial balances)Permanently
Insurance policies (expired)3 years
Insurance records‚ current accident reports‚ claims‚ policiesPermanently
Internal reports (miscellaneous)3 years
Inventories of products‚ materials & supplies7 years
Invoices to customers7 years
Invoices from vendors7 years
Minute books of directors & stockholders‚ including by-laws and charterPermanently
Notes receivable ledgers & schedules7 years
Payroll records & summaries7 years
Petty cash vouchers3 years
Property appraisals by outside appraisersPermanently
Property records including costs‚ depreciation‚ end of year trial balances‚ depreciation schedules‚ blueprints & plansPermanently
Revenue and support records7 years
Subsidiary ledgers7 years
Tax returns & worksheets‚ revenue agent’s‚ reports & other documents relating to the determination of the income tax liabilityPermanently
Time and attendance records7 years
Documents for payments to vendors‚ employees‚ etc. (includes allowances and reimbursements of employees‚ officers‚ etc. for travel & entertainment expenses)7 years