112 - Purchasing Records Retention

Procurement Services 112: Purchasing Records Retention (Interim)

Purpose

This policy is intended to ensure that the university:

  • Meets legal standards.

  • Optimizes the use of space.

  • Minimizes the cost of record retention.

  • Destroys outdated and useless records.

Reference

Policy

Purchasing records must be retained by 新加坡六合彩开奖 departments for the periods listed below:                                Retention Periods for Purchasing Records  

Type of Records

Retention Period

Comments
General Purchasing Records    
Documentation of purchases made with a 新加坡六合彩开奖 Purchasing
Card.  Documentation includes itemized cash register receipts
and other point of sale documents that specify what was
purchased.

Seven years

All documentation for Purchasing Card transactions is
maintained in the department making the purchase. 
The documentation must be available for review/audit
for five years.

     
Sponsored Project Records    
新加坡六合彩开奖 Purchasing Card documentation.  Documentation
includes itemized cash register receipts and other point of sale
documents that specify what was purchased.

Three years
after the
submission of
the last
financial
report on the
project

If any litigation, claim, or audit has started before the
expiration of the three year period, records should
be retained until the findings involved have been
resolved.

  Departments with limited storage space may contact for information on storage alternatives.

Effective: 10/25/2005