FINANCIAL RETENTION AND DESTRUCTION POLICY
Library Records
| Incorporation, chartering and registration records | retention: PERMANENT |
| Accession records | retention: 1 year after accessioning procedure period becomes obsolete |
| Directory of public library system and member libraries (member library copy) | retention: 0 after suspended or obsolete |
| Borrowing or loaning records (including interlibrary loan) (AT MID YORK) | retention: 0 after no longer needed |
| Catalog of holdings a. manuscript or published catalog b. continuously updated catalog
(AT MID YORK) |
retention: PERMANENT retention: 0 after suspended or obsolete |
| Individual title purchase requisition (which has been filled or found to be unfillable) | retention: 1 year |
| Records documenting selection of books and other library materials | retention: 0 after no longer needed |
| Library material censorship and complaint records (including staff evaluations by staff, patrons’ complaints and record of final decision) | retention: 1 year after last entry |
| Patron’s registration (for use of rare, valuable or restricted non-circulating materials) (AT MID YORK) | retention: 6 years |
Business Records and Documents
|
Type of Document |
Minimum Requirement |
| Accounts payable ledgers and schedules | 7 years |
| Audit Reports | Permanently |
| Bank Reconciliations | 2 years |
| Bank Statements | 3 years |
| Checks (for important payments and purchases) | Permanently (N/A) |
| Contracts, mortgages, notes and leases (expired) | 7 years |
| Contracts, mortgages, notes and leases (still in effect) | Permanently |
| Correspondence (general) | 1 year |
| Correspondence (legal and important matters) | Permanently |
| Correspondence (with customers and vendors) | 1 year |
| Deeds, mortgages, and bills of sale | Permanently |
| Depreciation Schedules | Permanently |
| Duplicate deposit slips | 2 years |
| Employment Applications | 6 MONTHS AS PER CIVIL SERVICE |
| Expense Analyses/expense distribution schedules | 7 years |
| Year end financial statements | Permanently |
| Insurance Policies (expired) | 3 years |
| Insurance records, current accident reports, claims, policies etc | Permanently |
| Internal audit reports | 3 years |
| Inventories of products, materials and supplies | 7 years (N/A) |
| Invoices (to customers, from vendors) | 4 years |
| Minute books, bylaws and charter | Permanently |
| Patents and related papers | Permanently (N/A) |
| Payroll records and summaries | 7 years |
| Personnel files (terminated employees) | 7 years |
| Retirement and pension records | Permanently (N/A) |
| Tax returns and worksheets | Permanently |
| Timesheets | 7 years |
| Trademark registrations and copyrights | Permanently (N/A) |
| Withholding tax statements | 7 years |
Adopted on April 21, 2009; Amended May 18, 2010
