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Record Retention

Record Retention. Daniel Adams Office of Audit Services May 12, 2017. Overview. OCHE Directive MUS General Record Retention Schedule Overview Accounting and Financial Records Other Records. OCHE Directive. Memo dated March 9, 2016

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Record Retention

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  1. RecordRetention DanielAdams Office of AuditServices May 12,2017

  2. Overview • OCHEDirective • MUS General Record RetentionSchedule • Overview • Accounting and FinancialRecords • OtherRecords

  3. OCHEDirective Memo dated March 9,2016 “The campuses of the Montana University System are hereby directed to utilize the attached Montana University System General Record Retention Schedulewith regard to the management and disposition of Montana University System records.” Source: Retrieved April 19, 2017 fromhttp://www.mus.edu/che/directives/default.asp

  4. MUS General Record RetentionSchedule • OverviewSection • Most records listed are common to manyunits • Purpose is to create a uniform set ofschedules • Terminology anddefinitions • Responsibilities • Rules of application • References and links to State of Montana General Record Retention Schedule (GRRS) or otherguidance Source: Retrieved April 19, 2017 fromhttp://www.mus.edu/che/directives/default.asp

  5. MUS General Record RetentionSchedule Overview Section –Responsibilities “Individual departments or units within a campus may wish to conduct an inventory of their records and map them to the General Schedule. If a unit identifies records that do not map to the General Schedule, the unit may need to develop a unique record retention schedule for those records. All new and unit unique schedules must be in writing and approved by the legal counsel for thecampus.” Source: Retrieved April 19, 2017 fromhttp://www.mus.edu/che/directives/default.asp

  6. MUS General Record RetentionSchedule Overview Section – Rules ofApplication “The office of origin/creationis responsible for retention of the record series for the minimum length of retention, unless the campus assigns responsibility for certain records to anotheroffice.” Is your area responsible to maintain the originalrecord? Source: Retrieved April 19, 2017 fromhttp://www.mus.edu/che/directives/default.asp

  7. MUS General Record RetentionSchedule Overview Section – Rules ofApplication “If a federal or state statute or regulation specifies a longer retention period for any type of record received, created, or maintained by MUS campuses, the statute or regulation or litigation hold overrides this schedule. … If any record holder is unsure of the applicability of any statute or regulation, he or she may contact LegalCounsel.” Source: Retrieved April 19, 2017 fromhttp://www.mus.edu/che/directives/default.asp

  8. Federal UniformGuidance 2 CFR §200.333 Retention requirements forrecords. “Financial records, supporting documents, statistical records, and all other non-Federal entity records pertinent to a Federal award must be retained for a period of three years from the date of submission of the final expenditure report or, for Federal awards that are renewed quarterly or annually, from the date of the submission of the quarterly or annual financial report, respectively, as reported to the Federal awarding agency or pass-through entity in the case of asubrecipient.” Exceptions may apply to specific awards. Source: 2 CFR §200.333 retrieved April 20, 2017 fromhttps://www.ecfr.gov.

  9. MUS General Record RetentionSchedule Overview Section – Rules ofApplication “Upon notice of a legal investigation, audit, dispute, or claim; receipt of a litigation hold or upon service of legal process through subpoena, summons or other means for delivery of records, all scheduled destruction of records related to the matter shall be immediately suspended and destruction of the records would not occur until the matter is fully resolved andfinalized.” Source: Retrieved April 19, 2017 fromhttp://www.mus.edu/che/directives/default.asp

  10. MUS General Record RetentionSchedule • Table ofContents • Accounting and FinancialRecords • OtherRecords • – Some relate to accounting and financialactivities Source: Retrieved April 19, 2017 fromhttp://www.mus.edu/che/directives/default.asp

  11. MUS General Record RetentionSchedule ACCOUNTING AND FINANCIAL RECORDS(Excerpts) Source: Retrieved April 19, 2017 fromhttp://www.mus.edu/che/directives/default.asp

  12. MUS General Record RetentionSchedule ACCOUNTING AND FINANCIAL RECORDS(Excerpts) Source: Retrieved April 19, 2017 fromhttp://www.mus.edu/che/directives/default.asp

  13. MUS General Record RetentionSchedule ADMINISTRATIVE RECORDS(Excerpts) Source: Retrieved April 19, 2017 fromhttp://www.mus.edu/che/directives/default.asp

  14. MUS General Record RetentionSchedule INFORMATION MANAGEMENT RECORDS(Excerpt) Source: Retrieved April 19, 2017 fromhttp://www.mus.edu/che/directives/default.asp

  15. Questions?

  16. Thanks!

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