GR1025-29 COST ALLOCATION AND Records created to document the allocation FE + 5 years for school Retention Note: If any of the records in DISTRIBUTION of costs among accounts and funds of a districts; FE + 3 years this group are used as ledger and journal local government, including records relating for other governments. entry documentation, they must be RECORDS to chargebacks and other interdepartmental retained for FE + 5 years (see item or interfund accounting transactions. number GR1025-30) by all local governments. Be certain to verify GR1025-30 LEDGERS, JOURNALS, Retention Note: AND ENTRY before the disposal of any ledger or DOCUMENTATION journal under this item number that the ledger or journal does not serve to document financial activities that require a longer retention period (e.g. investment documentation of proceeds of tax exempt bonds under item number GR1025-09). GR1025-30a LEDGERS, JOURNALS, General ledger showing receipts and AND expenditures from all accounts and funds of DOCUMENTATION a local government. (1) For fiscal years for which an annual FE + 5 years. Retention Note: Review before disposal; financial audit report (see item number some ledgers may PERMANENT GR1025-01) exists. retention for historical reasons. (2) For fiscal years for which an annual PERMANENT. financial audit report (see item number GR1025-01) does not exist. GR1025-30b LEDGERS, JOURNALS, Subsidiary ledgers. FE + 5 years. Retention Note: Review before disposal; AND ENTRY some ledgers may PERMANENT DOCUMENTATION retention for historical reasons. Receipt, disbursement, general, or FE + 5 years. Review before disposal; GR1025-30c LEDGERS, JOURNALS, Retention Note: AND ENTRY subsidiary journals. some journals may merit PERMANENT DOCUMENTATION retention for historical reasons. GR1025-30d LEDGERS, JOURNALS, Journal vouchers and entries or similar FE + 5 years. Retention Note: If bill stubs (see item posting control forms (including supporting number GR1025-27a) are used as entry AND ENTRY DOCUMENTATION documentation such as correspondence and documentation for account journals, they auditor adjustments that evidence journal must be retained by all local governments entries and amendments). for FE + 5 years rather than the FE + 3 year retention period for accounts receivable records.
GR1025-29 COST ALLOCATION AND DISTRIBUTION RECORDS Records created to document the allocation of costs among accounts and funds of a local government, including records relating to chargebacks and other interdepartmental or interfund accounting transactions. FE + 5 years for school districts; FE + 3 years for other governments. Retention Note: If any of the records in this group are used as ledger and journal entry documentation, they must be retained for FE + 5 years (see item number GR1025-30) by all local governments. GR1025-30 LEDGERS, JOURNALS, AND ENTRY DOCUMENTATION Retention Note: Be certain to verify before the disposal of any ledger or journal under this item number that the ledger or journal does not serve to document financial activities that require a longer retention period (e.g. investment documentation of proceeds of tax exempt bonds under item number GR1025-09). GR1025-30a LEDGERS, JOURNALS, AND DOCUMENTATION General ledger showing receipts and expenditures from all accounts and funds of a local government. (1) For fiscal years for which an annual financial audit report (see item number GR1025-01) exists. (2) For fiscal years for which an annual financial audit report (see item number GR1025-01) does not exist. FE + 5 years. PERMANENT. Retention Note: Review before disposal; some ledgers may PERMANENT retention for historical reasons. GR1025-30b LEDGERS, JOURNALS, AND ENTRY DOCUMENTATION Subsidiary ledgers. FE + 5 years. Retention Note: Review before disposal; some ledgers may PERMANENT retention for historical reasons. GR1025-30c LEDGERS, JOURNALS, AND ENTRY DOCUMENTATION Receipt, disbursement, general, or subsidiary journals. FE + 5 years. Retention Note: Review before disposal; some journals may merit PERMANENT retention for historical reasons. GR1025-30d LEDGERS, JOURNALS, AND ENTRY DOCUMENTATION Journal vouchers and entries or similar posting control forms (including supporting documentation such as correspondence and auditor adjustments that evidence journal entries and amendments). FE + 5 years. Retention Note: If bill stubs (see item number GR1025-27a) are used as entry documentation for account journals, they must be retained by all local governments for FE + 5 years rather than the FE + 3 year retention period for accounts receivable records.
Schedule%20GR%20Revised%205th%20-%20Effective%202016-04-17.docx