OAR 166-300-0025: Financial Records

(1) 1099-Miscellaneous Forms : Series documents the filing of Federal form 1099-Miscellaneous for vendor information correction. Retention: Retain 6 years, destroy. (2) Account Balance Records : Series documents internal and external financial account actions including reconciliation, transfer of funds, and receipt of funds. Accounts may be within State Treasury, Statewide Financial Management Application, or with external financial institutions. Records may include worksheets, reports, schedules, journal vouchers, transfer requests, bank/Treasury statements and support reconciliation records, validated deposit slips, and paid check/warrant copies. Retention: Retain 6 years, destroy. (3) Accounting Structure Organizational Hierarchy Records : Series documents the program and organization of an agency’s accounting structure. Records may include profile listings showing accounting structure and fund split tables, and related documentation. Retention: Retain 6 years, destroy. (4) Accounting System Input Documents and Listings, and Agency Control Reports : Series documents transactions or changes entered into the accounting system and other subsystems and related quality control. Records may include input documents, batch control reports, hand-posted spreadsheets, control reports, and related documentation. SEE ALSO: Capital Project Financial Records for records relating to capital projects exceeding 50 million dollars in value. Retention: Retain 6 years, destroy. (5) Accounts Payable Records : Series documents current outstanding liabilities and provides a record of payments of bills by the agency, excluding grants. They may also serve as a subsidiary ledger. SEE ALSO: Grant Records. Retention: Retain 6 years, destroy. (6) Accounts Receivable Records : Series documents billings and collections and provides a record of money owed to the agency. Serves as a subsidiary ledger of original entry/input and records amounts received from debtors for goods and services. Retention: (a) Retain monthly accounts receivable reports and SFMA requestable reports 6 years, destroy; (b) Retain all other accounts receivable records 6 years after collected or deemed uncollectible, destroy. (7) Agency-Issued Bond and Loan Records : Series documents the issuance and management of revenue and pass-through bonds, and agency-issued loans. Records may include applications, monitoring, evidence of loan repayment, bond purchase agreements, bond transcripts, indenture, and related documentation. Retention: (a) Retain bond records 6 years after bond maturity, destroy; (b) Retain loan records 6 years after repayment, destroy; (c) Retain denied and withdrawn applications 3 years, destroy. (8) Annual Financial Reports : Series documents the agency’s annual financial condition and results of operation as of June 30 using trial balance data. These reports are used as a reference by the Secretary of State, Audits Division and included in the Annual Comprehensive Financial Report (ACFR) produced by the Department of Administrative Services. Records may include transmittal cover sheet, organization and function, combined balance sheet, combined statement of revenues, expenditures, changes in fund balance, notes to the financial statement, and exhibits. Exhibits may include a working trial balance by fund type, adjustments to accounting data, cash flow analysis, and other documents supporting statement amounts and notes. The Department of Administrative Services maintains the statewide record copy of the ACFR. Retention: Retain 6 years, destroy. (9) Budget Allotment Records : Series documents the agency’s containment within quarterly budget authorizations using expenditure, encumbrance, and budget data. Records are used to develop and monitor apportioned fiscal distributions. Retention: Retain present and previous biennium, destroy. (10) Budget Preparation Records : Series documents the agency’s activity to plan, develop, estimate, and propose biennial budget requests. Records may include budget requests, spreadsheets, expenditure projection work papers, preliminary division/section budget proposals, budget development schedules, allotment reports, decision packages, spending plans, funding formula factor analysis, compensation plan proposals, contingency/deviation plans, performance measures, fiscal impact analysis, monthly trial balance summaries, expenditure detail reports, revenue detail reports, monthly encumbrance registers, expenditure and revenue registers, and related documentation. Retention: Retain present and previous biennium, destroy. (11) Capital Project Financial Records: Series documents financial expenditures for projects relating to capital assets exceeding 50 million dollars in value. Records may include invoices, vouchers, payment receipts, expenditure records, and related documentation. SEE ALSO: Accounting System Input Documents and Listings, and Agency Control Reports; Expenditure and Revenue Report Records; Invoice Records; and Voucher Records for capital projects less than 50 million dollars in value. Retention: Retain 6 years or 3 years after project completion, whichever is longer, destroy. (12) Cash Receipt Records : Series documents tabulated and keyed-in transactions for cash received by the agency. Records may include cash register tapes or equivalents, copies of receipts, and batch sheets. SEE ALSO: Receipt Records. Retention: Retain 6 years, destroy. (13) Check Records : Series documents checks written, received, or cancelled by an agency. Records may include check registers, requests for cancellation, redeemed, void, and canceled checks, and related documentation. Retention: Retain 6 years, destroy. (14) Competitive Bid and Competitive Proposal Records : Series documents the evaluation and award of bids to vendors and/or agencies and provides evidence of accepted and rejected bids and proposals. Records may include requests for proposals, proposals, invitations to bid, bids, bid and quote lists, notices of bid and proposal opening and award, comparison summaries, spreadsheets, tabulation worksheets, bid and proposal advertising records, tally sheets, bid specifications, and related documentation. SEE ALSO: Purchasing Records; and Vendor Report Records. Retention: Retain 6 years after bid awarded or procurement canceled, destroy. (15) Credit Records : Series documents the usage of credit and debit cards by state agencies, including payments received, purchases made, and issuance of cards by agencies. Records may include applications and approval for state-issued cards, monthly statements, receipts, transaction logs, and related documentation. Retention: (a) Retain receipts for payments received by agency 3 years after transaction, destroy; (b) Retain application and approvals 3 years after card cancelled, revoked, or denied, destroy; (c) Retain all other credit card records 6 years, destroy. (16) Debit/Credit Advice Records : Series documents the receipt of and/or verification of special deposits or withdrawals and the adjustment of dollar amounts in funds because of recording errors or fund transfers between accounts. Retention: Retain 6 years, destroy. (17) Deposit Slip Records : Series documents monies deposited in banks at privately operated institutions and the State Treasury. Retention: Retain 6 years, destroy. (18) Emergency Board Request Records : Series documents an agency’s requests to the Legislative Emergency Board for additional funds or authority to spend funds between legislative sessions. Records may include requests, schedules and agendas, exhibits, organization charts, testimony summaries, fiscal analyses, legislative progress reports, revenue projections, reclassification plans, presentation drafts, performance measures, other exhibits, and related documentation. Retention: Retain present and previous biennium, destroy. (19) Encumbrance Register Records : Series documents outstanding encumbrances (financial obligations), purchase commitments, and vouchers written to liquidate or reduce encumbrances. Retention: Retain 6 years, destroy. (20) Expenditure and Revenue Report Records : Series documents expenditures, revenue, encumbrances, and budgetary data, and are used to monitor and control expenditures in accordance with Legislatively Approved Budgets. SEE ALSO: Capital Project Financial Records for records relating to capital projects exceeding 50 million dollars in value. Retention: (a) Retain monthly expenditure and revenue reports 6 years, destroy; (b) Retain expenditure and revenue projection reports until superseded or obsolete, destroy; (c) Retain all other expenditure and revenue reports 2 years, destroy. (21) Gift Tracking Records : Series documents gifts to agency officials, employees, and volunteers, and are used to document compliance with the ethics and disclosure requirements found in ORS 244. Records may include spreadsheets, correspondence, and related documentation. Retention: Retain 3 years, destroy. (22) Grant Records : Series documents the application, evaluation, awarding, administration, monitoring, and status of grants in which the agency is the recipient, grantor, allocator, or administrator. Grants may be awarded from federal or state government, or other public or private funding sources. Records may include applications including project proposals and narratives, summaries, objectives, activities, budgets, exhibits, and award notification, grant evaluation records and recommendations concerning applications, grant administration records including progress reports, budgets, project objectives, proposals, and summaries, records documenting allocation of funds, grant agreements, records monitoring project plans and measuring achievement and performance, equipment inventories, financial reports, accounting records, audit reports, expenditure reports, and related documentation. SEE ALSO: Contract, Lease, and Agreement Records. Retention: (a) Retain grant records, including SFMA requestable reports 5 years after final or annual expenditure report accepted, destroy; (b) Retain unsuccessful grant applications 3 years after rejection or withdrawal, destroy; (c) Retain capital asset records 3 years after disposition of assets, destroy. (23) Invoice Records : Series documents goods and services billed by the agency. Records may include invoice registers and itemized invoices. SEE ALSO: Capital Project Financial Records for records relating to capital projects exceeding 50 million dollars in value. Retention: Retain 6 years, destroy. (24) Journal Entry Register Records : Series documents an account record of original entry/input and provides a record of debit and credit journal transactions. Retention: Retain 6 years, destroy. (25) Legislatively Adopted Budget Records : Series documents the comprehensive financial plan for the agency’s biennial operating budget that was approved by the Legislature and forms a basis for appropriations. Records may include supplemental reports dealing with affirmative action, productivity, performance measures, improvement in programs, information systems, and other subjects. The Department of Administrative Services, Budget and Management section maintains the statewide record copies of Legislatively Adopted Budgets. Retention: Retain 10 years, destroy. (26) Oregon State Treasury Report Records : Series documents reports generated by the Oregon State Treasury and are used to update an agency on account and fund status and activity, investment balances and transactions, and the agency’s activities in issuing debt. Records may include banking, account, and other finance reports, investment reports, and debt management reports. Retention: (a) Retain daily account reports until superseded by monthly reports which summarize daily activity, destroy; (b) Retain debt management reports 6 years after indebtedness is retired, whether by maturing or being called, destroy; (c) Retain all other State Treasury reports 6 years, destroy. (27) Petty Cash Fund Records : Series documents petty cash activity for the agency. Records may include requests and authorizations to establish petty cash funds, ledgers, statements, requests for disbursements, and copies of receipts and invoices. Retention: Retain 6 years, destroy. (28) Purchasing Records : Series documents the purchase of goods and services by the agency. Records may include purchase orders and requests, purchase authorizations, requisitions, contract release orders, price agreements, material/cost specifications, copy center/printing orders, and related documentation. SEE ALSO: Competitive Bid and Competitive Proposal Records; and Vendor Report Records. Retention: Retain 6 years, destroy. (29) Receipt Records : Series documents acknowledgment of payment and/or delivery. Records may include receipt registers and individual receipts. SEE ALSO: Cash Receipt Records. Retention: Retain 6 years, destroy. (30) Travel Expense Records : Series documents reimbursement claims made by employees for travel and related expenses. Records may include travel expense detail sheets and related documentation. Retention: Retain 6 years, destroy. (31) Trial Balance Report Records : Series documents summaries of general ledger accounts and shows the agency’s current financial position. Reports are used to prepare the agency’s financial statements. Retention: Retain 6 years, destroy. (32) Unclaimed Property Report Records : Series documents annual reports submitted to the State Treasury of financial assets being held for a person or entity that cannot be found. Records may include Holder Report, owner information, and related documentation. Note: Unclaimed property is not real estate, abandoned personal property, or lost and found items. Retention: Retain 3 years after the property is remitted to the State Treasury, destroy. (33) Vendor Report Records : Series documents vendor data used to select vendors and to track voucher and purchase order status. SEE ALSO: Purchasing Records. Retention: (a) Retain annual vendor reports 6 years, destroy; (b) Retain all other vendor reports until superseded or obsolete, destroy. (34) Voucher Records : Series documents individually authorized expenditure transactions. Records provide the documentation and backup for all payments to vendors. Voucher files may contain invoices, receipts, travel expense detail sheets, purchase requests, purchase orders, cancelled checks, and related documentation. SEE ALSO: Capital Project Financial Records for records relating to capital projects exceeding 50 million dollars in value. Retention: Retain 6 years, destroy. (35) Voucher Register Records : Series documents a book of original entry and provides a listing of vouchered disbursement transactions. Retention: Retain 6 years, destroy. (36) Warrant Cancellation and Reissuance Request Records : Series documents the request to cancel warrants issued on vouchers and to request the issue of duplicates. Records may include request memoranda, affidavits, related documentation, and memoranda from the Department of Administrative Services confirming re-issuance. Retention: Retain 6 years, destroy. (37) Warrant Records : Series documents the promise to pay and the authorization for claim payments. Records may include redeemed, void cancelled, and undeliverable warrants, and related documentation. Retention: (a) Retain undeliverable warrants until expired, destroy; (b) Retain all other warrants 6 years, destroy. (38) Warrant Register Records : Series documents a listing of warrants issued by an agency. Retention: Retain 6 years, destroy.