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New Financial General Schedules

May 3, 2016

We’re going to try a new look to post general schedules on the blog. Instead of posting all of the schedule numbers, this post only has the new schedules, but each existing general schedule, with its retention, are attached if you want to review those.
These schedules have been previously posted, therefore they have already been added to the State Records Committee’s May 12th meeting agenda. Remember, there is no designation or classification of general schedules because you determine that by your own record series. You can submit comments on this blog, to Rebekkah Shaw at rshaw@utah.gov and at the meeting May 12th.

To see what existing general schedules will be overwritten by the general schedules listed, please check out the Financial Crosswalk. (Click the link to view the document.)


-Accounts Receivable Records-

These are records related to monies invoiced or collected in the conduct of business. Information may include bank records, revenue, asset, and related accounting records. Records related to trust and contracts are maintained under a separate schedule.

Retention: Between 4-7 years and then destroy.

 

-Accounts Payable Records-

These are records related to monies paid to suppliers, vendors, and other creditors. Records may include invoices, expenses, investment, and bank information. Records related to trust and contracts are maintained under a separate schedule.

Retention: Between 4-7 years and then destroy.

 

-Budget Records-

These records are used to document the intended appropriation of funds. Information may include budget requests, proposals, and reports documenting the status of appropriations.

Retention: Between 4-7 years and then destroy.

 

– Annual Financial Budget –

The budget is a plan for financial operations for a fiscal year. It may be certified by a budget officer and filed with the state auditor.

Retention: Permanent. Transfer to the Archives.

 

– Trust Financial Records –

These are records related to monies handled under the terms of a trust. Information may include property taxes, insurance premiums, mortgage and related records.

Retention: Between 4-7 years after final action and then destroy.

 

– Grant and Other Federal Financial Assistance Records-

These records document grants received by governmental entities, which may contain applications, notice of award, program reports, correspondence, and related records.

Retention: Between 3-8 years after final action and then destroy.

 

– Grant Final Reports-

These records are reports prepared and submitted on grants received by governmental entities on grants received. Information may include statistics, narrative, activities, and accomplishments.

Retention: Until final action or disposition of asset and then destroy.

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