RECORD RETENTION AND DOCUMENT DESTRUCTION POLICY
Policy/Purpose
Records are retained in an organized and safe manner to assure compliance with confidentiality and record retention laws.
Parenting Now! shall retain records for the period of their immediate or current use, unless longer retention is necessary for historical reference or to comply with contractual or legal requirements. Records and documents outlined in this policy includes paper, electronic files (including e-mail) and voicemail records regardless of where the document is stored, including network servers, desktop or laptop computers and handheld computers and other wireless devices with text messaging capabilities.
In accordance with 18 U.S.C. Section 1519 and the Sarbanes Oxley Act, Parenting Now! shall not knowingly destroy a document with the intent to obstruct or influence an “investigation or proper administration of any matter within the jurisdiction of any department agency of the United States or in relation to or contemplation of such matter or case.” If an official investigation is underway or even suspected, document purging must stop in order to avoid criminal obstruction.
In order to eliminate accidental or innocent destruction, Parenting Now! adheres to the following document retention schedule:
Keep for Three Years
· Employment Applications (Three years after application for individuals not hired; three years after termination for individuals hired.)
· Property records for assets of over $10,000 after disposition
· General ledger and journal entries and other financial support
· General correspondence
Keep for Seven Years
· Paid Invoices (Accounts Payable)
· Cash receipts records (deposit info, credit card receipts, etc.)
· Bank Statements & cancelled checks
· Payroll records
o Time Sheets
o Payroll Journals
o Payroll Tax Returns
o W-2 forms
· Personnel files (7 years after termination)
· Contracts (for 7 years after expiration)
Keep Permanently
· Audited Financials/Annual Reports
· Corporate/organizational records
· Tax exemption documents
· Pension/Retirement Plan Documentation & Filings
· Minutes
o Board of Directors and Executive Committee
o Management Committee
· Client files
· Historical Data (scrapbooks, other data)
Suspension in the Event of Litigation
If a lawsuit, governmental investigation or subpoena is filed, served or appears imminent, Parenting Now! will retain all of the documents it is instructed to keep rather than destroying them pursuant to the Policy.
Additional procedures:
1. Client Records are maintained on-site in a locked file cabinet according to confidentiality procedures for 1 year after the close of the fiscal year and then archived off-site.
2. Contracts and Grants Agreements are maintained on site.
3. Fiscal Records are maintained on site for 1 year after the close of the fiscal year and then archived off-site.
4. Personnel Records are maintained on site in a locked file
5. Corporate records including minutes and audits are maintained on site
6. Legal Records related to any legal actions are maintained on site.
7. A current inventory of all archived records is maintained.
8. Paper files are not to be removed from the Parenting Now! facility except when transferring to and from the off-site archives. The transfer of electronic files to home or other non-Parenting Now! computers is prohibited.
Created May 2010