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UCD Records Management and Freedom of Information

Aonad Bainistíochta Taifead & Saoráil Faisnéise UCD

Finance Records Retention Schedule
General Guidelines - This retention schedule will be reviewed periodically in light of experience and any legal or other relevant indications.
Approved March 2003

Please note In light of the General Data Protection Regulation (GDPR) this schedule is currently under review

General classes of records held
by university HR/Personnel departments.
Default retention period:This is the suggested time period for which these records should be held based on legal precedence and experience elsewhere Final disposition: After the retention period expires the records should be archived or shredded.
ACCOUNTS PAYABLE    
Batches of invoices and vouchers Hold for current year plus six years Destroy by confidential shredding
VAT records Hold for current year plus six years Destroy by confidential shredding
TAX clearance certificates Hold for current year plus six years Destroy by confidential shredding

ACCOUNTS RECEIVABLE

   
Debtors ledgers Hold for current year plus six years Destroy by confidential shredding
Income listings Hold for current year plus six years Destroy by confidential shredding
Income control accounts Hold for current year plus six years Destroy by confidential shredding
Receipts reconciliation Hold for current year plus six years Destroy by confidential shredding
Agreements - Rental, Lease, Use, Occupancy Retain indefinitely Archive
BANK RECORDS    
Paid cheques Hold for current year plus six years Archive
Bank reconciliation Hold for current year plus six years Destroy by confidential shredding
Bank statements Hold for current year plus six years Destroy by confidential shredding
Capital projects Hold for current year plus six years after completion Appraise and evaluate for archiving
Financial statements
Retain indefinitely in original form Archive
Annual financial statements Retain indefinitely in original form Archive
Final budget reports Retain indefinitely in original form Archive
Registrars maintained in Finance Department under statute i.e. Register of insurance's, mortgage assets Retain indefinitely in original form Archive
General correspondence Hold for current year plus six years Destroy by confidential shredding
FIXED ASSETS    
Records of University Properties, sale and purchase Retain indefinitely in original form Archive
Asset register Retain indefinitely in original form Archive
Insurance files Retain indefinitely in original form Archive
Policies Retain indefinitely in original form Archive
OTHER RECORDS    
Audit reports Retain indefinitely in original form Archive
Internal financial policies, accounting standards, procedures etc. Hold in original form until superseded or C&AG audit singed off, whichever is the later. Store indefinitely electronically Archive
Cancelled cheques Hold until C&AG audit signed off Destroy by confidential shredding
Travel claims Hold until C&AG audit signed off Destroy by confidential shredding
Receipt books Hold until C&AG audit signed off Destroy by confidential shredding
Purchase order books Hold until C&AG audit signed off Destroy by confidential shredding
Voucher books Hold until C&AG audit signed off Destroy by confidential shredding

Stores requisition books

Hold until C&AG audit signed off Destroy by confidential shredding
Petty cash Hold until C&AG audit signed off Destroy by confidential shredding

Payroll
Retain electronically held records indefinitely - paper records to be confidentially shredded after C&AG audit

Hold indefinitely in electronic format Destroy by confidential shredding
Listings/payslips Hold to end of tax year Destroy by confidential shredding
Clock cards Hold until C&AG audit signed off Destroy by confidential shredding
Pay-sheets, authorisations to deduct tax details os staff, appointment details, pay scales Hold indefinitely in electronic format Destroy by confidential shredding
Projections and statistical analysis Hold for current year plus six years Destroy by confidential shredding
Procurement records Hold for current year plus six years and C&AG audit signed off Appraise, evaluate and archive
Tenders and quotations Hold for current year plus six years and C&AG audit signed off Appraise, evaluate and archive
Contracts for services After completion of contract hold for current year plus six years Appraise, evaluate for archiving
Legal cases Indefinitely Archive
Legal opinion Indefinitely Archive
Physical planning records Indefinitely Archive
Research group or centre financial records Hold for current year plus six years Destroy by confidential shredding
Committee records (secretariat) Indefinitely Archive
EU funded research project records Hold for five years from the date of the final EU payment in relation to the project or current year plus six years, whichever is the longer Destroy by confidential shredding