Georgia Archives

University System of Georgia

Local Government Records Retention Schedules

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CATEGORY:  FINANCIAL (08)   [ Total entries: 17 ]


LG-08-001 | Accounting Records

Description:  Records include: accounts payable files; accounts receivable files; bank statements; cancelled checks, vouchers, and EFTS; cash balances and reconciliations; Bank Loans; Credit card records; Collection Records; 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

Updated:  October 20, 2016


LG-08-002 | Audit Reports/Annual Financial Statements

Description:  Reports prepared by external auditors examining and verifying the agency's financial activities for a defined period of time.

Retention:  Permanent

Updated:  October 20, 2016


LG-08-005A and LG-08-005B | Bids and Competitive Selection Records

Description:  Records documenting quotes by vendors to supply products or services to an agency.

Retention:  (LG-08-005A) Capital Improvement Projects: 11 years; (LG-08-005B) All Other Records: 7 years

Updated:  October 20, 2016


LG-08-006 | Budget Maintenance Records and Reports

Description:  Records documenting changes made in the agency's initial budget including change requests, request authorizations, funds transfers, and other records.

Retention:  6 years

Updated:  October 20, 2016


LG-08-007 | Budget Request Records

Description:  Records documenting the preparation of a budget request package and reporting of the status of funds, requesting amendments of allotments, and reporting program performance.

Retention:  5 years after the end of the fiscal year

Updated:  October 20, 2016


LG-08-004 | Capital Improvement Bonds, Retired

Description:  Document the repayment of funds raised through bond issues.

Retention:  5 years

Updated:  October 20, 2016


LG-08-010A and LG-08-010B | Contracts and Agreements

Description:  Records documenting services and products provided to an agency for a specified cost and period of time.

Retention:  (LG-08-010A) Capital Improvement Projects: 10 years after expiration; (LG-08-010B) Other Contracts: 7 years after expiration

Updated:  October 20, 2016


LG-08-008 | Cooperative Federal Programs Budget Preparation, Project, and Allocation Records

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

Retention:  5 years after the end of the fiscal year

Updated:  October 20, 2016


LG-08-011 | Depreciation Schedules

Description:  Records documenting useful life and depreciation of agency-owned equipment and property, usually for insurance purposes.

Retention:  4 years

Updated:  October 20, 2016


LG-08-012 | Federal and State Grant Project Files - Education Agencies and Non Education Agencies

Description:  Records documenting grants from federal and state agencies.

Retention:  3 years after submission of final report or denial of application

Updated:  October 20, 2016


LG-08-013 | 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

Updated:  October 20, 2016


LG-08-009 | Final Budgets

Description:  Includes the final approved budget for an agency.

Retention:  Permanent

Updated:  October 20, 2016


LG-08-014 | Franchise Records

Description:  Records documenting franchises granted to utility companies or other organizations allowing them to provide services to local residents.

Retention:  7 years after superseded

Updated:  October 20, 2016


LG-08-015 | General Ledger and Trial Balances

Description:  Record of final entry for all financial transactions

Retention:  7 years

Updated:  October 20, 2016


LG-08-016 | Insurance Claims Documentation

Description:  Insurance claims records documenting accidents, property damage, or other incidents involving government owned vehicles or contractors.

Retention:  5 years after settlement

Updated:  October 20, 2016


LG-08-003 | 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, whicever is longer

Updated:  October 20, 2016


LG-08-017 | Signature Authorizations

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

Retention:  7 years after authorization expires

Updated:  October 20, 2016


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