Records Retention Policy

CDSP and affiliated PTOs will observe the following periods for record retention:

Type of Document Period of Retention Meeting Minutes
(Executive Board and General Meetings) – Including all handouts and financial statements and attendance Indefinitely
Bylaws/Policies Indefinitely
Articles of Organization Indefinitely
Audit Reports Indefinitely
Determination Letter from IRS Indefinitely
Tax Returns Indefinitely
CDSP/PTO Slate Indefinitely
YE Financial Statements (Balance Sheet and Profit and Loss Budget v. Actual and Profit and Loss Detail) 7 years
Insurance Policies 5 years
Bank Statements and Reconciliations 3 years
Deposit and Payment Detail 2 years
Method of Retention
  1. Documents should be retained in electronic form if possible (i.e. Google Drive)
    or paper
  • Electronic files must be transferable and reliable.
Document Destruction
  1. Documents not covered by this policy can be destroyed when no longer useful
    to the CDSP or PTO.
  2. Documents covered by this policy must be maintained for the period
    established in this policy, at a minimum, but may be maintained for a longer
    period of time.
  3. Documents may not be destroyed and must be preserved and not altered in
    any manner if the CDSP or PTO knows or has been informed that they may be
    relevant to an investigation by any government entity or to litigation or
    potential litigation.

Council of Darien School Parents (CDSP)

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