Washington State University
BUSINESS POLICIES AND PROCEDURES MANUAL

RECORDS
90.01
Revised 7-17
Procedures, Records, and Forms
509-335-2005

All-University Records Retention Schedules:
Accounting/Fiscal Records

PDF link

ACCOUNTING/FISCAL RECORDS

Record Series Title—Function/Purpose

Location
(*Official Copy)

Retention and Disposition Action

Disposition Authority No.

Remarks

$50 ADVANCE PAYMENTS LISTINGS
List $50 advance payments from new students. Reports generated on daily and monthly basis.

Bus. Svcs. –
Univ Rec/ Cashier*

Retain until replaced,
then destroy.

79-11-23905
Rev. 2

 

Admissions
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under
79-11-23905
Rev. 2

ALLOTMENT MANAGEMENT AND BUDGET DEVELOPMENT
Records relating to the development of University budget proposals and the management of allotments. Includes, but is not limited to:

  • Allotment submittals;
  • Budget proposals/decision packages;
  • Legislative notes;
  • Supporting/backup documentation;
  • Related correspondence/communications.

Excludes:

  • Strategic plans developed in accordance with RCW 43.88.090 and covered by Strategic Plans – Final (Unpublished) (DAN GS 10001; see Admin-Exec Lvl Recs).

Department*

Retain for 6 years after
end of biennium,
then destroy.

GS 01040
Rev. 1

Essential

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under GS 01040
Rev. 1

 

AUDIT REPORTS
Report on financial status of Compton Union Building and the Associated Students of Washington State University. (WSU Auxiliary Services and external auditors conduct audits.)
Excludes records covered by:

  • External Audits/Reviews of the University--Final Reports (DAN GS 04006), and
  • External Audits/Reviews of the University--Interactions (DAN GS 04009).

Compton Union Administration*
OR
VP–Student Affairs*

Retain for 5 years after
end of fiscal year,
then destroy.

85-1-34887
Rev. 2

 

AUTHORIZATIONS FOR DIRECT DEPOSIT OF FUNDS
Original authorization and/or change request authorizing the University to deposit funds into an individual's bank account. Includes the Authorization for Direct Deposit of Excess Financial Aid Funds (WSU 1437) and the Travel / Accounts Payable Reimbursement Direct Deposit Authorization (WSU 1433).

University Receivables*
OR
Travel Services*
OR
Accounts Payable*

Retain for 6 years after
superseded or
last activity,
then destroy.

11-12-63464

 

BANKING–ACCOUNTS AND TRANSACTIONS
Records relating to the agency's banking activities and documenting its banking transactions. Includes, but is not limited to:

  • Deposits and withdrawals (including Electronic Funds Transfers (EFT), International Money Transfers (IMT), Automated Clearing House (ACH), etc.).
  • Statements (bank, dividend, investment, etc.) and reconciliations.
  • Records documenting the status of and adjustments to accounts.
  • Checks and warrants issued by the agency (if returned by bank).
  • Checks returned by the bank due to nonsufficient funds (NSF).

Excludes deposited items covered by GS 01068 (Banking--Deposited Items).
Excludes master depository contracts covered by GS 01050 (Contracts and Agreements).

Department*

Retain for 6 years after
end of fiscal year,
then destroy.

GS 01013
Rev. 1

 

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under GS 01013

BANKING--DEPOSITED ITEMS
Negotiable instruments received by the University and deposited to the bank in a different format. Includes, but is not limited to:

  • Original paper checks/warrants imaged using Remote Deposit Capture (RDC) or Imaged Cash Letter (ICL), or returned by the bank after redemption;
  • Images of checks/warrants created in lieu of depositing the original item (such as Imaged Cash Letter (ICL)).
    Excludes checks returned to University (due to insufficient funds) covered by Banking–Accounts and Transactions (DAN GS 01013) .

Department*

Retain for 14 days after
date of deposit,
then destroy.

GS 01068

BUDGET STATEMENT
Used to communicate financial status of University accounts.

General Accounting*
(microfiche)

Retain for 6 years after
end of fiscal year,
then destroy.

11-12-63471


 

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under
11-12-63471

CASH ADVANCE REQUEST (WSU 1060)
Used to document a cash advance for work on grants or contracts.

Controller*

Retain for 2 years after
end of fiscal year,
then destroy.

11-12-63473

 

Department
(reference copy)

Retain for 2 years after
end of fiscal year,
then destroy.

Secondary copy under
11-12-63473

CODE BOOK
Provides a listing of all University account coding.
(Retained in computer-generated microfiche.)

Bus Svcs/
Controller*

Retain for 6 years after
superseded,
then destroy.

16-06-68987

Microfiche

Bus Svcs–
General Accounting
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under
16-06-68987

 

CONSOLIDATED ENDOWMENT FUND QUARTERLY FINANCIAL REPORTS
Report financial condition of consolidated endowment fund.

Budget Office*

Retain for 6 years after
end of fiscal year,
then destroy.

75-2-9214
Rev. 2

 

Univ. Adv.–WSU Foundation;
Vice Pres. for
Finance & Administration
(reference copies)

Retain until
admin. purpose served,
then destroy.

Secondary copy under 75-2-9214
Rev. 2

CONTRACTS AND AGREEMENTS
Instruments signed by the University and one or more parties that set out terms and conditions to which the signing parties agree or submit. Also includes records relating to negotiations, amendments and contract monitoring. Includes, but is not limited to:

  • Interagency, intra-agency, and intergovernmental agreements
  • Lease, escrow, and rental agreements
  • Lending agreements (facility, equipment, vehicle)
  • Liability waivers (hold harmless, insurance, etc.)
  • Loan Agreements (long-term debt, etc.)
  • Master depository contract (banking)
  • Personal service, client service, purchasing agreements
  • Purchase and sales agreements (non-capital asset purchases only)
  • Vendor bonds
  • Warranties

For WSU purposes, may also include visiting scholar files and copyright agreements.
Excludes:

  • Bond project loan agreements covered by Tax-Exempt Bonds (DAN GS 01069);
  • Public records transfer agreements with State Archives covered by Transfer of Legal Custody (DAN GS 11001; see Records Mgmt Files table).

Department*

Retain for 6 years after
termination or expiration of instrument, then destroy.

GS 01050
Rev. 2

Essential

CONTRACTUAL DELEGATION FILE
Copies of the letters of delegation of the Board of Regents' contractual authority to WSU employees. Used by auditors, vendors, lawyers, and the general public.

VP for Finance & Admin*

Retain for 6 years after
superseded,
then destroy.

86-12-38992
Rev. 4

 

Asst. Atty. General's Office–WSU;
Human Res. Svcs.;
Employee
(reference copies)

Retain until
admin. purpose served,
then destroy.

Secondary copy under
86-12-38992
Rev. 4

CORRECTIVE ACTIONS -- AUDITS
Records relating to the actions taken by the University to address issues/findings raised in internal and external audits/reviews. Includes, but is not limited to:

  • Corrective action plans;
  • Certificates of completion;
  • Reporting of corrective action, plans, progress on corrective actions and certificates of completion to the Office of Financial Management in accordance with State Administrative and Accounting Manual (SAAM) Section 55.10;
  • Related correspondence/communications.

Excludes records covered by Corrective Actions -- Audits (Development of Plans) (DAN GS 04008)

Internal Audit*
OR
Department*

 

Retain for 6 years after
matter resolved,
then destroy.

 

GS 04007

 

 

 

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under GS 04007

CORRECTIVE ACTIONS -- AUDITS (DEVELOPMENT OF PLANS)
Records relating to the development of corrective action plans to address issues/findings raised in internal and external audits/reviews. Includes, but is not limited to:

  • Preliminary drafts of corrective action plans;
  • Working notes;
  • Related correspondence/communications.

For WSU purposes, this series excludes records covered by Advisories (DAN 04-06-60695; held by Internal Audit (office #6810).)

Internal Audit*
OR
Department*

Retain until
completion and acceptance
of final plan,
then destroy.

GS 04008

 

 

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under GS 04008

DONATION AND FUNDRAISING DEVELOPMENT FILES
Provides a record of donation and fundraising development activities. May include donor and/or potential donor names and contact information, records of donation activity, refunds of donations, and other information regarding donors and potential donors.

Department*

Retain for 6 years after
end of fiscal year,
then
Transfer to Archives for appraisal and selective retention.

91-04-47854
Rev. 1




Archival
(appraisal required)

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under
91-04-47854
Rev. 1

 

EMERGENCY AND SHORT-TERM LOANS TO STUDENTS
Provides a record of emergency loans made to students.  Includes promissory notes, copies of deposits, payment records. Includes records for McEachern Fund, Robinson Fund, and other short-term and emergency loan funds.

Campus student affairs*
OR
Dean of Students*

Retain for 6 years after
final payment,
then destroy.

07-08-61556
Rev. 1

 

EXPENDITURE TRANSFER REQUEST (WSU 1048)
Used by budget administrator and Principal Investigator to transfer identifiable direct charges between funding sources.

Controller*


Retain for 6 years after
end of fiscal year,
then destroy.

11-12-63483


 

Department
(secondary copy)

Retain for 2 years after
end of fiscal year,
then destroy.

Secondary copy under
11-12-63483

EXTERNAL AUDITS/REVIEWS OF THE UNIVERSITY -- FINAL REPORTS
Records relating to the final outcome of audits conducted by either the State Auditor's Office or other external organizations. Includes, but is not limited to:

  • Final reports of audits and examinations ;
  • Management letters;
  • Exit items; and
  • Other documentation provided at the final exit conference.

Excludes records covered by Grants Received by State Agencies (DAN GS 23004; see All-Univ Recs Rtn Schedule -- Research and Sponsored Project Recs table).

Internal Audit*


Retain for 6 years after
 audit report date, then destroy.

GS 04006
Rev. 1

 

President's Office
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under GS 04006
Rev. 1

EXTERNAL AUDITS/REVIEWS OF THE UNIVERSITY -- INTERACTIONS
Records relating to the University's interactions with the external agency/organization conducting the audit/review of the University.
Includes, but is not limited to:

  • Requests for information;
  • Entrance documents;
  • Status reports;
  • Related correspondence/communications.

Excludes records covered by External Audits/Reviews of the University -- Final Reports (DAN GS 04006).

Internal Audit*
OR
Department*

Retain until
conclusion of audit,
then destroy.

GS 04009

 

 

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under GS 04009

FINANCIAL AID SYSTEM FILES
Provides a record of all student financial aid information, including awards (e.g., Pell grants) and information used in determining and tracking financial aid grants, e.g., work study, housing, income. Includes the Financial Aid Forms Needs Analysis (FAFNAR) database. Files are accessed and maintained as Administrative Information System (AIS) databases.

Office of Student Financial Aid*

Retain for 4 years after
end of fiscal year,
then destroy.

99-03-59039
Rev. 1

 

Bus Svcs–
Univ Rec/Cash
(reference copy listing of unapplied aid)

Retain until
admin. purpose served,
then destroy.

Secondary copy under
99-03-59039
Rev. 1

FINANCIAL DISPUTES AND COLLECTIONS
Records relating to the University's financial disputes and attempts to collect funds where litigation has not commenced. Includes, but is not limited to:

  • Accounts receivable and payable;
  • Checks/warrants returned due to non-sufficient funds (NSF);
  • Correspondence, notices, invoices/statements, account closure;
  • Damage and loss claims (purchasing);
  • Warrant claims/refunds;
  • Settlement documentation.

Excludes records covered by Litigation Case Files -- Routine (DAN GS 18004; see All-Univ Recs Rtn Sched--Legal Files table).

Department*

 

Retain for 6 years after
matter resolved,
then destroy.

GS 01003
Rev. 1

 

 

Department
(reference copy)

 

Retain until
admin. purpose served,
then destroy.

 

Secondary copy under GS 01003
Rev. 1

FINANCIAL TRANSACTIONS -- GENERAL
Records documenting all resources received and expended by the University provided the receipts and expenditures are not for bond or grant projects. Includes, but is not limited to:

  • Accounts payable/receivable;
  • Purchase and sales (purchase/field orders, bills of sale, receipts, petty cash, cash books, remittance advices, vouchers, vendor rebates, fiscal purchasing/receiving documents, etc.);
  • Billing statements, billing summaries (registers/ledgers), adjustments to accounts (error corrections, overpayment refunds, conservation rebates, etc.), delinquent account lists;
  • Financial statements and reports (created/saved electronically or printed) required to be retained as evidence of the University's financial status at a specific point in time (such as reports that need to be approved/ signed or reports that cannot be regenerated at a later date);
  • Registers and journals (general and subsidiary) for all funds and functions;
  • Reconciliations;
  • Check/warrant registers.

Excludes financial transaction records covered by:

Excludes financial reports that are able to be regenerated and which are covered by Secondary (Duplicate) Records (DAN GS 50005; see Admin-Gen Office Recs table).

Department*

 

Retain for 6 years after
date of document,
then destroy.

GS 01001
Rev. 1

 

 

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under GS 01001
Rev. 1

FINANCIAL TRANSACTIONS -- SENSITIVE CARDHOLDER DATA
Specific sensitive cardholder data elements obtained during electronic financial transactions where the University stores, processes or transmits cardholder data received via point of sale systems, phone, email, internet, paper, etc. Sensitive cardholder data elements include:

  • Primary Account Number (PAN) and credit card number, if different;
  • Sensitive Authentication Data (SAD) as defined by the Payment Card Industry Data Security Standard (PCI DSS). Includes full track data, IN/PIN blocks, and three or four-digit customer identification (CID) number printed on the front or back of payment card such as Card Identification Number (CIN), Card Verification Value (CVV), or Card Validation Code (CVC).

Excludes data elements other than PAN and SAD that are received by the University (such as transaction number, date, amount, etc.) which must be retained in accordance with Financial Transactions – General (DAN GS 01001) or other relevant records series.

Department*

Retain until
completion of transaction,
then destroy.

GS 01070

 

GIFT TRANSMITTAL AND ACKNOWLEDGMENT REFERENCE FILES
Provides reference copies regarding the nature of gifts and their donor(s) routed from WSU units to WSU Foundation–Gift Accounting. May include reference copies of monetary and noncash gift transmittal and acknowledgment forms, golf tournament and auction monetary and noncash gift transmittal forms, and courier service process documentation. Copy of gift transmittal form is submitted to Controller when an in-kind gift.

Department;
Controller
(secondary copies)

Retain for 30 days after
submitted to WSU Foundation

GS 50005
Rev. 1

 

INTERNAL AUDITS/CONSULTATIONS -- FINAL REPORTS AND AUDIT WORKING PAPERS
Final reports, audit working papers and other supporting documentation relating to the planning, methodology, conduct and conclusions of internal audits/consultations.
Includes, but is not limited to:

  • Planning procedures and communications (such as engagement letters, memoranda of understanding, etc.);
  • Internal control reviews;
  • Substantive tests and criteria used;
  • Audit strategies and procedures performed;
  • Audit evidence;
  • Conclusions reached;
  • Final reports.

Internal Auditor*
OR
Department*

Retain for 6 years after
conclusion of audit/ consultation,
then destroy.

GS 04001
Rev. 1

 

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under GS 04001
Rev. 1

INVESTMENT WORKING FILES
Provides a record of investment transactions.

Budget Office*


Retain for 6 years after
end of fiscal year,
then destroy.

83-5-31923


 

Vice President for
Finance and Administration
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under
83-5-31923

LETTER OF CREDIT FILES
Provides a record of authorization and support to draw funds (letters of credit). May include instructions for drawing funds, requests for funds submitted, worksheets summarizing transactions, and quarterly reports.

Bus Svcs–Gen Acctg/Rev*
OR
Bus Svcs–Spons Prog Svcs*

Retain for 6 years after
end of fiscal year,
then destroy.


74-10-7042
Rev. 2



 

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under
74-10-7042
Rev. 2

PETTY CASH RECORDS DOCUMENTATION
Records activity of revolving imprest accounts used to make miscellaneous or emergency purchases.

Controller*


Retain for 6 years after
end of fiscal year,
then destroy.

11-12-63501


 

Department
(secondary copy)

Retain for 2 years after
end of fiscal year,
then destroy.

Secondary copy under
11-12-63501

PLANNING BUDGET LEVEL RECORDS
Provides a record of financial areas’ budget levels for the coming fiscal year. Includes journal vouchers, consideration sheets.

Budget Office*

 

Retain for 6 years after
end of fiscal year,
then destroy.

92-09-51052
Rev. 1

 

 

Financial Areas
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy
under
92-09-51052
Rev. 1

REQUEST TO SERVE FOOD AT MEETINGS AND TRAINING SESSIONS
Authorizes the use of University monies for the purchase of meals, coffee and light refreshments at meetings and formal training sessions that are official University business.

Controller*

Retain for 2 years after
end of fiscal year,
then destroy.

11-12-63509

 

Department
(secondary copy)

Retain for 1 year after
end of fiscal year,
then destroy.

Secondary copy under
11-12-63509

RISK ASSESSMENT DOCUMENTATION
Provides a record of identification, review, and management of risks that potentially affect area and University assets and resources. This documentation includes checklists from departments and supporting spreadsheets, calculations, and/or documentation. Department and area records provide the data for the checklists submitted to Business Services--General Accounting.

Area Administrator*
AND/OR
Bus Svcs--Gen Acctg*

Retain for 3 years after
end of fiscal year,
then destroy.

11-12-63513

 

SPECIAL COURSE FEE REQUEST (WSU 1224)
Used to request establishment of special course fees to pay for goods and services not provided by state appropriated funds or general student fees.

University Receivables*


Retain for 2 years after
fee termination,
then destroy.

11-12-63517


 

Department
(secondary copy)

Retain for 2 years after
fee termination,
then destroy.

Secondary copy under
11-12-63517

STATE AUDITOR'S OFFICE WHISTLEBLOWER INVESTIGATIVE REPORTS, UNIVERSITY COPY
University copies of State Auditor's Office reports of allegations of fraud or violations of state laws or regulations as a result of a Whistleblower complaint filed under chapter 42.40 RCW.

NOTE: State Auditor's Office retains primary record copy.

Internal Audit*


Retain for 3 years after
audit report date, then destroy.

GS 04004


 

President's Office
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under GS 04004

TAX REPORTING/RETURNS -- INTERNAL REVENUE SERVICE (IRS)
Records relating to the reporting of vendor payments to the Internal Revenue Service (IRS) (such as forms 1098, 1099, 5498, W-2G, etc.).

Excludes IRS Form W-9 covered by Vendor Payment Information (DAN GS 01066; held by Business Services--Accounts Payable).

Payroll Services*

 

Retain for 4 years after
date of document,
then destroy.

GS 01019
Rev. 1

 

 

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under GS 01019
Rev. 1

TAX REPORTING/RETURNS -- STATE AND LOCAL TAXES
Returns and reports submitted for taxes paid to state and/or local government agencies (such as excise tax, etc.).
Excludes Department of Revenue’s records related to the collection of taxes.

NOTE: Reference RCW 82.32.070 and Department of Revenue Advisory No. 3131.2009.

Department*

 

Retain for 5 years after
filing,
then destroy.

GS 01071

 

 

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under GS 01071

TAX-EXEMPT BONDS
Records documenting all resources received and expended by the University for bond-funded projects.
Includes, but is not limited to:

  • Documents supporting purchase/acquisition/construction price and disposition/sales price;
  • Cancelled (voided) checks and credit card slips, project cost record, etc. (if capital asset constructed by University);
  • Project cost/expenditure tracking record (staff time, etc.);
  • Registers (numerical listing of checks/warrants, etc.);
  • Trust indenture, loan agreements, bond counsel opinions, etc.;
  • Transcripts of bond issuance documents.

Department*

Retain for 6 years after
final bond payment,
then destroy.

GS 01069

 

Department
(reference copy)

Retain until
admin. purpose served,
then destroy.

Secondary copy under GS 01069