University of Oregon

EFFECTIVE FEBRUARY 3, 2016: The UO is transferring responsibility for records management oversight, policy, and training from the Libraries to the Office of the Vice President/General Counsel. While the transition is underway, UO offices may continue to submit records management questions though this form or via e-mail to spcarref@uoregon.edu. Library staff will consult with the Office of the General Counsel as needed to address your inquiry. We anticipate the transition to be completed by Summer 2016.

University Archives: Records Retention Schedule

Functional Sections: Fiscal-Accounts Records

166-475-0040

This General Schedule is applicable to the Fiscal-Accounts records of the Oregon University System. Retention periods apply to the record copy of all public records, regardless of medium or physical format, created or stored by the above specified agencies. Please note the exceptions to this General Schedule listed in OAR 166-030-0026 before disposing of records.

List of Series

1. Annual Fiscal Reports

State Accounts Reports, Balance Reconciliation Records, Financial Reports, Closing of the Books Records Records document annual fiscal year-end status of accounts and is used to provide the office with summary information relating to its programs which may be used for planning or review. Records include Period 14 reconciliation reports; annual operating statements; schedules of rates; and related correspondence.

Record Copy: Business Affairs General Accounting
Retention: 10 years, destroy.

Other Copies: Units
Retention: 3 years, destroy.

2. Building and Equipment Reserve Schedules

Records document individual account summary and to show what the balance should be, as well as the amount of current year entries needed to bring the account up to that balance. The series also serves as backup to the general ledger entries. Information may include building or equipment value, required reserve, actual balance, deficiency, and amount to transfer in the current fiscal year.

Record Copy: Business Affairs
Retention: 6 years, destroy.

Other Copies: Units
Retention: 6 years, destroy.

3. Certificates of Participation

Records document the administration of Certificates of Participation (COP's) primarily sold to finance institutional equipment, software, hardware, and consultants' time. The series may also be used to split COP debt service amongst the institutions and make entries charging them for COP related debt service. Records may include but are not limited to Certificates of Participation, COP budget development and cash draw down records, and related executive and administrative correspondence.

Record Copy:
Retention: (a) Permanent, executive correspondence; (b) 4 years after COP maturity, all other records, destroy.

4. Chart Element Reports

Index/FOAPAL Records document every fiscal FOAPAL element used by the institution which include Index, Fund, Organization, Account, Program, Activity and Location Codes. Records consist of reports generated on a particular FOAPAL element which include the element; a brief descriptive title; and effective, termination, and next change dates.

Record Copy: Business Affairs General Accounting
Retention: Until superseded or obsolete, destroy.

Other Copies: Units
Retention: Until superseded or obsolete, destroy.

5. Chart Element Justification Records

Index/FOAPAL Records document fiscal chart of accounts elements and an office's request to establish a new index or FOAPAL element, change an existing element, or terminate an existing one. Records consist of request forms which include a description of the request, the proposed FOAPAL and index elements, effective date, and signatures of requesters and authorizing officials.

Record Copy: Business Affairs General Accounting
Retention: Permanent.

Other Copies: Units
Retention: Until superseded or obsolete, destroy.

6. Closing of the Books Records

Accounts-resolution Records document the resolution and reconciliation of accounts monitored by the institution, the OUS Budget and Fiscal Policies Office, or Controller’s Office at the end of the fiscal year. Records include reconciliation statements provided by each institution to OUS Budgets and Fiscal Policies or the OUS Controller’s Office concerning discrepant accounts for which they are responsible and related documentation and correspondence.

Record Copy: Business Affairs General Accounting
Retention: 6 years, destroy.

Other Copies: Units
Retention: 2 years, destroy.

7. Development and Endowment Management Fee Records

Endowment Management Fee Records Records document 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.

Record Copy: Development Office
Retention: 6 years, destroy.

Other Copies: Units
Retention: 2 years, destroy.

8. General Ledger Statements

Ledger Statements Records document a complete monthly record of the final posting of all university financial transactions, listed by account number. It is used to prepare periodic financial statements. Records contain: the program name; account number; posting date; debit and credit amounts; new balance; and related information. This is a closed series that was discontinued when the institution adopted the Banner Financial Information System (FIS).

Record Copy: Business Affairs General Accounting
Retention: (a) 15 years for List 13, destroy; (b) 5 years for Lists 1-12, destroy.

Other Copies: Units
Retention: 4 years for List 13 and 2 years for Lists 1-12, destroy.

9. Miscellaneous Accounting Reports

Fiscal Status Reports, Activity Reports--Accounting, Sales Reports, Fiscal Manager's Records Records document the production of various accounting reports made by individual offices or departments on a daily, monthly, quarterly, or annual basis. These reports provide summary information relating to the department and its programs, and may be used for planning or review. Reports include operating statements, year-end projections, reconciliations, and expenditures by facilities, accumulated hours and dollars by employee, summaries of assets and liabilities, sales, cost accounting, and income. This series does not include the year-end Closing of the Books Reports. Records may include but are not limited to working papers; drafts; final reports; and related documentation and correspondence.

Record Copy: Creating Units
Retention: (a) 5 years for annual reports, destroy; (b) 1 year for daily, monthly, and quarterly reports and working papers, destroy.

Other Copies: Receiving Units
Retention: 1 year, destroy.

10. Operating and General Ledger Reconciliation Records

Account Reconciliation Records-monthly Records document monthly reconciliations with the operating ledger or general ledger. Records consist of working papers and monthly reconciliation reports.

Record Copy: Unit responsible for account
Retention: 6 years, destroy.

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