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|
|Articles of Organization||Indefinitely|
|Determination Letter from IRS||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
- Documents should be retained in electronic form if possible (i.e. Google Drive)
- Electronic files must be transferable and reliable.
- Documents not covered by this policy can be destroyed when no longer useful
to the CDSP or PTO.
- 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.
- 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