Fiscal Records Retention Guidelines | Duke University Libraries

Fiscal Records Retention

For the full Fiscal Records Retention Guidelines, please view the GAP 200.240 on the Duke Financial Services website.

Introduction

The following records retention guidelines provide recommendations for the disposition of Duke University financial records. The full records retention policy for financial records is created by Duke Financial Services as part of GAP 200.240. For questions regarding the records retention policy, contact Duke Financial Services.

University Archives has included an abbreviated guideline below. The purpose of the abbreviated guideline is to provide targeted guidance on financial records common to University departments and offices in an easy-to-use format. This guideline focuses on records common to University departments and offices ONLY. For the full financial records retention policy, including information on specific records maintained by the Controllers’ Office or other Duke Financial Services offices, please visit the Duke Financial Services website.

Fiscal Records Retention Guidelines (Revised March 2009)

Office of Record: Any University Office/Department

Series Title	Description	Minimum Retention	Notes
Sponsored Research: Documents	Financial documents supporting sponsored research, statistical records, and all other documents pertinent to an award	Retain 3 years after date of submission of final expenditure report	For awards that are renewed quarterly or annually, retain documents for three years from the date of submission of the quarterly or annual financial reports
Sponsored Research: Real Property and Equipment Documents	Documents representing real property and equipment acquired with federal funds	Retain 3 years after disposal of property/equipment
Accounts Payable Check request	Form and documentation	Dept. Procedure	Original in Accounts Payable
Bursar Receipt: Receipt		CY + 7	Department Copy
Bursar Receipt: Deposit Slip		Dept. Procedure	Original in Accounts Payable
Bursar Receipt: Documentation		CY + 7
Corporate Card Documentation	Travel Related & Non-Travel Related	CY + 7
Documentation of Reconciliation of Financial Transactions		CY + 2
Experimental Subject Payment Form		Dept. Procedure	Original in Accounts Payable
Financial Statements		Dept. Procedure	Original in Accounting Services
Imprest cash Requistion for Payment, Miscellaneous Reimbursement Form		Dept. Procedure	Original in Employee Travel and Reimbursement
Internal Audit Reports		FY + 5
Invoices	vendors	Dept. Procedure	Original in Accounts Payable
IRI (Interdepartmental invoices)		CY + 7	Departmental copy should be retained in accordance with departmental procedure.
Journal vouchers		Dept. Procedure	Original in Accounting Services
Journal vouchers, R/3 entry supporting documents		CY + 7
Payroll: Attendance sheets	monthly	CY + 3
Payroll: I-9s and documentation		ACT	Original in Benefits
Payroll: Employment notice		ACT	Original in Benefits
Payroll: Employee Data Sheet		ACT	Original in Benefits
Payroll: Termination Form		ACT + 1	Original in Benefits
Payroll: Supplemental Payment Form		Dept. Procedure	Original in Corporate Payroll
Payroll: Timecards		Dept. Procedure	Original in Corporate Payroll
Payroll: Timesheets/timecard data		CY + 5
Petty Cash: Authorization and Change Forms		Until repayment of loan	Original in Accounting Services
Purchase Order		Dept. Procedure	Original in Procurement Services
Purchase Requisition		Dept. Procedure	Original in Procurement Services
Telephone bills		Dept. Procedure	Original in OIT
Travel Expense Voucher/Form		Dept. Procedure	Original in Employee Travel and Reimbursement

Using the Retention Guidelines

The abbreviated guideline lists financial records commonly used and stored throughout University departments. For the full records retention policy, including information on specific records maintained by the Controllers’ Office or other Duke Financial Services offices, please visit the Duke Financial Services website.

If you have records that are not covered in the GAP 200.240, please contact the University Archives. The University Archives is the official repository for permanent but inactive documents and is a resource for creating retention guidelines for records not covered by the GAP 200.240.

If you are aware of an audit of Duke's financial records being conducted by a federal or state agency, do not destroy any accounting documentation that may be required for the audit until completion of the audit.

Please consult GAP 200.250 for procedures on destroying eligible financial records.

Additional Information

Departments

Original documents from external sources should be maintained a minimum of 7 years with a few exceptions. Retention of departmental copies is at the discretion of the department. Departmental procedure should be established.

Administrative Departments

Original documents, files, film, and microfiche should be maintained for a minimum of 7 years with a few exceptions.

Definitions

Archives: The University Archives
Description: A brief description of the kinds of records included in a record series.
Retention: The minimum amount of time a particular series of records should be retained prior to disposition
Notes: Additional information relevant to records retention. For departmental copies, the notes field will identify which office retains the original document.
Records: All recorded information, regardless of its physical form or characteristics, created or received pursuant to the transaction of university business or in the fulfillment of its educational, administrative, business or legal obligations
Record Series (or Series Title): a group/set of identical or related records, information or data that are normally used and filed or stored as a logical unit; synonymous with data set

Legend for Minimum Retention Period Entries:
ACT: While active or employed
CY: Current fiscal year
CL: Calendar year of the report/file, etc.
Dept: A matter of department policy
FY: Fiscal year of the report/file
Perm: Permanent record unless superseded
Term: Termination of employment