ETC Coop Policy #1
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Document Retention/Destruction Policy
This policy specifies how important documents (hardcopy, online or other media) should be retained, protected and eligible for destruction. This policy also ensures that documents are promptly provided to authorities in the course of legal investigations or lawsuits.
Document Retention Schedule
The following types of documents will be retained for the following periods of time. At least one of each document will be retained according to the following schedule. Please note that this policy contemplates documents both documents and processes, currently in place, and those that could potentially be in place, in the future.
Corporate Records
| Document Type | Retention Period |
|---|---|
| Chart of Accounts | Permanent |
| Fiscal Policies and Procedures | Permanent |
| Audits | Permanent |
| Financial Statements | Permanent |
| General Ledger | Permanent |
| Check registers/books | 7 years |
| Business expense documents | 7 years |
| Bank deposit slips | 7 years |
| Cancelled checks | 7 years |
| Invoices | 7 years |
| Investment records (deposits, earnings, withdrawals) | 7 years |
| Property/asset inventories | 7 years |
ETC Coop Document Retention Policy v1 November 15, 2019
Petty cash documents | 3 years |
| Credit card receipts | 3 years |
Tax Records
| Document Type | Retention Period |
|---|---|
| Annual tax filing for the organization (Form 990) | Permanent |
| Payroll registers | Permanent |
| Filing of fees paid to professionals (IRS Form 1099 in the USA) | 7 years |
| Payroll tax withholdings | 7 years |
| Earnings records | 7 years |
| Payroll tax returns | 7 years |
| W-2 statements | 7 years |
Personnel Records
| Document Type | Retention Period |
|---|---|
| Employee offer letters | Permanent |
| Confirmation of employment letters | Permanent |
| Benefits descriptions per employee | Permanent |
| Pension records | Permanent |
| Employee applications and resumes | 7 years after termination |
| Promotions, donations, termination | 7 years after termination |
| Job descriptions, performance goals | 7 years after termination |
| Workers' Compensation records | 5 years |
| Salary ranges per job description | 5 years |
| I-9 Forms | 5 years after termination |
| Time reports | 3 years after termination |
Insurance Records
| Document Type | Retention Period |
|---|---|
| All insurance contracts | Permanent |
| Employee contracts | Permanent |
| Construction contracts | Permanent |
| Legal correspondence | Permanent |
| Loan/mortgage contracts | Permanent |
ETC Coop Document Retention Policy v1 November 15, 2019
Leases/deeds | Permanent |
| Vendor contracts | 7 years | | Warranties | 7 years |
Donations
| Document Type | Retention Period |
|---|---|
| Grant dispersal contract | Permanent |
| Donor lists | 7 years |
| Grant applications | 7 years |
| Donor acknowledgments | 7 years |
Management Plans and Procedures
| Document Type | Retention Period |
|---|---|
| Strategic Plans | 7 years |
| Staffing, programs, marketing, finance, fundraising, and evaluation plans | 7 years |
| Vendor contracts | 7 years |
| Disaster Recovery Plan | 7 years |
Document Protection
Documents (hardcopy, online or other media) will be stored in a protected environment for the duration of the Document Retention Schedule. Computer backup media will be included.
Document Destruction
Hardcopy of documents will be destroyed by shredding after they have been retained until the end of the Document Retention Schedule. Online copies will be destroyed by proven means to destroy such media after they have been retained until the end of the Document Retention Schedule.
Provision of Documentation for Investigations or Litigation
Documents requested and subpoenaed by legal authorized personnel will be provided within 5 business days. The Board Chair and the Executive Director will authorize provision. No documents will be concealed, altered or destroyed with the intent to obstruct the investigation or litigation.