General Accounting Retention Policy

Record Category and Document Types

Retention Period

Accounting Records, Paper*

  • Bank statements

  • Annual financial statements

  • Audit reports

  • Chart of accounts

  • Capital authorization forms (CAF)

  • Depreciation schedules

  • General ledger

  • Insurance documentation

  • Journal entries

  • Physical asset inventories

7 Years

Tax-Exempt Bond Records

  • Arbitrage calculation and rebate documentation

  • Bond transcripts

  • Lease arrangement documents

  • Management contracts

  • Minutes and resolutions

  • Offering documents

  • Private business use calculations

Life of bond issue + 6 Years