Georgia Archives

University System of Georgia

State Government Records Retention Schedule

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CATEGORY:  ACCOUNTING (01)   [ Total entries: 16 ]


GASC-01-001 | Accounting Records

Description:  Records include: accounts payable files; accounts receivable files; bank statements; cancelled checks, vouchers, and EFTS; cash balances and reconciliations; cost accounting records; deposit slips and reconciliations; invoices; journal entries (journal vouchers); outstanding obligations; payment schedules; purchase orders; receipts; returned checks; reconciliations; refund/disbursement requests; moving expenses; agency-paid individual memberships and activities in professional organizations; registration fees; and travel authorization and reimbursement records.

Retention:  5 years.

Legal Citation:  O.C.G.A. 11-2-725

Archival Instructions:  Vital Record - duplicate and store offsite


GASC-01-002 | Annual Financial Statements

Description:  Records which provide an annual statement of net assets and activities; often called a comprehensive annual financial statement or report.

Retention:  Permanent.

Legal Citation:  OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations; Government Accounting and Standards Board No. 34

Archival Instructions:  Vital Record - duplicate and store offsite; Transfer to Archives annually


GASC-01-003 | Audit Reports (Agency Copies)

Description:  Reports prepared by the Department of Audits examining and verifying the agency's financial activities for a defined period of time; does not include the record copy maintained by the Department of Audits.

Retention:  5 years or two successive audits, whichever is longer.

Legal Citation:  O.C.G.A. 50-6-24; OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations

Archival Instructions:  Vital Record - duplicate and store offsite


GASC-01-004 | Bids and Competitive Selection Records

Description:  This series documents the procurement of equipment and service valued in excess of bid limit. This series may include but is not limited to: requests for proposal (RFP); requests for invitations to bid (RFI); requests for quotes (RFQ); vendors proposals and bids; records for all bids received; and competitive quotes.

Retention:  Capital Improvement Projects: 11 years; All other records: 7 years.

Legal Citation:  O.C.G.A. 9-3-51; 9-3-24


GASC-01-005 | Budgeting Records

Description:  Records documenting budget requests, maintenance, and reports as well as the budget approved by the Legislature.

Retention:  Approved Budget: Permanent; All other Records: 6 years.


GASC-01-006 | Collection Records

Description:  This series includes records documenting an agency's efforts to collect unpaid accounts; includes PeopleSoft collection reports.

Retention:  5 years after account paid in full or deemed uncollectible.

Legal Citation:  O.C.G.A. 9-3-25

Archival Instructions:  Vital Record - duplicate and store offsite


GASC-01-007 | Contracts and Agreements

Description:  This series documents the negotiation, execution, completion, and termination of legal agreements between an agency and other parties to acquire or provide services or products.

Retention:  Capital Improvements: 10 years after expiration; Other contracts: 7 years after contract expiration.

Legal Citation:  O.C.G.A. 9-3-24

Archival Instructions:  Vital Record - duplicate and store offsite


GASC-01-008 | Cooperative Federal Programs Budget Preparation, Project, and Allocation Records

Description:  Records used to develop, estimate, propose, and plan the preliminary budget requests for cooperative state/federal programs and reflect the process by which annual budget allotments are distributed.

Retention:  5 years after the end of the fiscal year.

Legal Citation:  O.C.G.A. 9-3-25; OMB Circular A-102, Grants and Cooperative Agreements with State and Local Governments


GASC-01-009 | Cost Accounting Reports

Description:  Financial reports by cost center for all expenditures.

Retention:  3 years.


GASC-01-010 | Credit Card Administration Records

Description:  Records documenting administration of credit cards issued to individual agency staff or offices.

Retention:  7 years.

Legal Citation:  O.C.G.A. 9-3-24


GASC-01-011 | Federal and State Grant Project Files

Description:  Records documenting federal and state-funded grant projects.

Retention:  Final Narrative Summary: Permanent (GASC-02-008); Education Agencies: 5 years after submission of final report or denial of application; Non-Education Agencies: 3 years after submission of final financial report.

Legal Citation:  US DOE guidelines


GASC-01-012 | Federal Revenue Sharing Records

Description:  Records documenting federal, state, county, and municipal revenue-sharing; includes summaries, expenditures, and investments.

Retention:  5 years after submission of final report.


GASC-01-013 | General Ledger and Trial Balances

Description:  Record of final entry for all financial transactions.

Retention:  7 years.

Archival Instructions:  Vital Record - duplicate and store offsite


GASC-01-014 | Internal Auditing Records

Description:  Records documenting the conduct of an internal review of agency financial accounts and processes.

Retention:  5 years or two successive audits, whichever is longer.

Legal Citation:  O.C.G.A. 50-6-24; OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations


GASC-01-015 | Official Bonds and Oaths

Description:  Bonds required of state officials and custodians of funds.

Retention:  5 years after expiration of term.

Archival Instructions:  Vital Record - duplicate and store offsite


GASC-01-016 | Signature Authorizations

Description:  Records documenting the certification of employees who are authorized to sign fiscal and contractual documents.

Retention:  7 years after authorization expires.

Legal Citation:  O.C.G.A. 9-3-24

Archival Instructions:  Vital Record - duplicate and store offsite


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