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General Accounting and Miscellaneous

Fiscal

General Accounting and Miscellaneous
Title Major Revision Previous Schedules Schedule Item
General ledger

showing summary receipts and disbursements from all funds and accounts:
RETENTION: 6 years after last entry
NOTES: Appraise these records for historical significance prior to disposition. Records with historical value should be retained permanently. General ledgers containing detailed entries that include information on nature of transaction and parties involved may be valuable in documenting financial transactions involving a local government.
General ledger of municipal electric or gas utility is covered by item no. 383 in the Electric and Gas Utility section.

 CO2 277; MU1 245; ED1 95; MI1 199 502
Subsidiary ledger

providing details of the general ledger accounts:
RETENTION: 6 years after last entry
NOTES: Appraise these records for historical significance prior to disposition. Records with historical value should be retained permanently. Subsidiary ledgers containing detailed entries that include information on nature of transaction and parties involved may be valuable in documenting financial transactions involving a local government, if this detailed information is not contained in general ledgers.

 CO2 278; MU1 246; ED1 96; MI1 200 503
Journal

recording chronological entries of all fiscal transactions:
RETENTION: 6 years after last entry
NOTES: Appraise these records for historical significance prior to disposition. Records with historical value should be retained permanently. Journals containing detailed entries that include information on payor, payee and purpose may be valuable in documenting financial transactions involving a local government.
Journal voucher of a municipal electric or gas utility is covered by item no. 383 in the Electric and Gas Utility section.

 CO2 279; MU1 247; ED1 97; MI1 201 504
Accounting register,

including but not limited to check register, transfer of funds register, encumbrance register, and register of claims presented for payment and paid claims:
RETENTION: 6 years after last entry

 CO2 280; MU1 248; ED1 98; MI1 202 505
Cash transaction record

showing cash received from collection of various fees and petty cash disbursed:
NOT COVERED: Record of cash transactions of municipal electric or gas utility is covered by item no. 384 in the Electric and Gas Utility section.
RETENTION: 6 years

 CO2 281; MU1 249; ED1 99; MI1 203 506
Tolls or fares collection record,

including but not limited to record of receipts and log of operations:
RETENTION: 6 years

 CO2 282; MU1 250; MI1 204 507
Daily cash record,

including adding machine tapes, cashier's slips showing daily cash receipts and analysis of cash receipts:
RETENTION: 6 years

 CO2 283; MU1 251; ED1 100; MI1 205 508
Notice of encumbrance

indicating funds encumbered and amount remaining unencumbered:
RETENTION: 6 years

 2020 (♦)
 CO2 284; MU1 252; ED1 101; MI1 206 509
Past due account fiscal records and summaries:


RETENTION: 6 years after account satisfied or otherwise closed

2020 (♦)
 CO2 285; MU1 253; ED1 102; MI1 207 510
Intermediary fiscal record of receipts and disbursements,

including but not limited to detail record, analysis, proof sheet or trial balance worksheet, and adding machine tapes:
RETENTION: 6 years

 CO2 286; MU1 254; ED1 103; MI1 208 512
List or abstract of receipts, disbursements, claims, purchase orders, or contracts:


RETENTION: 6 years

 2020 (♦)
2022 (♦♦) 		CO2 287, 605; MU1 255, 567; ED1 104, 265; MI1 209, 504 513
Billing records covering services provided by local government,

including utilities

 CO2 288; MU1 256; ED1 105; MI1 210 514

a: Customer's individual account, including automatic payment authorization and other ACH records:
RETENTION: 6 years after last entry

b: Records used to determine billing and charges including "flat rate" computation record and copies of bills and charge slips:
RETENTION: 6 years

c: Billing address records:
RETENTION: 0 after superseded or obsolete
Bill of sale

of property owned by local government other than real property:
RETENTION: 6 years

 CO2 289; MU1 257; ED1 106; MI1 211 515
Sales or occupancy tax records,

covering taxes collected by local governments:
RETENTION: 6 years

 2020 (♦)
 CO2 290; MU1 258; ED1 107; MI1 212 516
Tax exemption records,

showing that local government is exempt from paying sales, use or other taxes:
RETENTION: 1 year after superseded or obsolete

 CO2 291; MU1 259; ED1 108; MI1 213 517
Payment recoupment records,

documenting the process of recovering monies paid erroneously by local government to employee, vendor or other payee:
RETENTION: 6 years after date of most recent entry in record

 CO2 847; MU1 721; ED1 324; MI1 719 518
Receipt (received) or copy of receipt (issued)

other than for payment of taxes:
RETENTION: 6 years

 CO2 315; MU1 282; ED1 129; MI1 237 519
Grant, award or gift files,

covering grants, awards and gifts given by local governments to other local governments, not-for-profit corporations, businesses or individuals
NOTES: Records of grants received by local governments are covered by item no. 55 in the General Administration section.

 CO2 848; MU1 722; ED1 454; MI1 720 520

a: Master summary record or index of grants, awards or gifts used to track awarding, progress, or payments:
RETENTION: PERMANENT

b: Detailed records of grants, awards and gifts (awarded or not), excluding master summary record:
RETENTION: 6 years
Credit card records

documenting payments received by credit cards or electronic transactions, including credit card payment receipts, and statements showing amounts of payments received and fees deducted:
RETENTION: 6 years

 CO2 849; MU1 723; ED1 455; MI1 721 521
Estate settlement fiscal records,

including but not limited to records of receipt of estate or transfer tax, copies of Surrogate's decrees and Surrogate's orders fixing tax, transmittals between Surrogate Court and county financial officer and estate appraisal records

 CO2 292 522

a: Copy of receipt issued for payment of estate or transfer tax, providing receipt of tax payment is recorded in accounting of estate:
RETENTION: 6 years

b: All other estate settlement fiscal records:
RETENTION: PERMANENT
Case file for each account containing court-controlled funds held by the fiscal office,

including but not limited to court order establishing account, investment records, and record of dispersal of funds upon account being closed:
RETENTION: 6 years after account closed

 2020 (♦)
 511
Records of universal telecommunications and information services (E-rate) program for schools and libraries


2020 (♦)
 1171

a: Records related to the application for, receipt, and delivery of supported services, or which demonstrate compliance with statutory or regulatory requirements, including pre-bidding, bidding, contracts, application process, invoices, and FCC certification forms and program integrity assurance review documentation:
RETENTION: 10 years after the last day of the applicable funding year or the service delivery deadline for the funding request, whichever is later

b: Asset and inventory records of equipment purchased sufficient to verify the actual location of such equipment:
RETENTION: 10 years after purchase
Student financial aid records

including but not limited to applications for assistance, financial aid disbursement records, copies of income tax forms, financial aid transcripts from other schools, award and declination notices, verifications for non-taxable income and other tax-related records, and veteran's service information:
RETENTION: 6 years

 2020 (♦)
 1172
Employee reimbursement records,

where local government pays for or reimburses employee for college tuition or job-related training expenses:
RETENTION: 6 years after payment or reimbursement is made to employee

 2020 (♦)
 523