Records Retention Policy

The following is a Records Retention Policy for Peoples City Mission. All records will the stored in the following manner:
• Accounts payable ledgers and schedules: 10 years
• Accounts receivable ledgers and schedules: 10 years
• Audit reports of accountants: Permanently
• Bank statements: 10 years
• Investment records: Accounting ledgers, transfer payments, stubs showing issues, record of interest coupon, options, etc.: Permanently
• Contracts and leases (expired): 10 years
• Contracts and leases still in effect: Permanently
• Correspondence, general: 4 years
• Correspondence (legal and important matters): Permanently
• Depreciation schedules: 10 years
• Donation records of endowment funds and of significant restricted funds: Permanently
• Donation records, other: 10 years
• Employee personnel records (after termination): 7 years
• Expense analyses and expense distribution schedules (includes allowance and reimbursement of employees, officers, etc., for travel and other expenses: 10 years
• Financial statements (end-of-year): Permanently
• General ledgers and end-of-year statements: Permanently
• Insurance policies (expired): Permanently
• Insurance records, current accident reports, claims, policies, etc.: Permanently
• Internal reports, miscellaneous: 3 years
• Invoices from vendors: 10 years
• Journals: 10 years
• Minute books of Board of Directors, including Bylaws and Articles of Incorporation: Permanently
• Payroll records and summaries, including payments to pensioners: 10 years
• Subsidiary ledgers: 10 years
• Tax returns and worksheets, revenue reports, and other documents relating to determination of tax liability: Permanently
• Time sheets and cards: 3 years
• Voucher register and schedules: 10 years
• Volunteer records: 3 years
Warning: All permitted document destruction shall be halted if the organization is being investigated by a governmental law enforcement agency, and routine destruction shall not be resumed without the written approval of legal counsel or the Chief Executive Office.