Ver. 5.0 RECORDS RETENTION SCHEDULE: FINANCE Page FIN-1 Office of
Record
(OFR)
Retention No. Records Description Total
Retention Vital? Media
Options
Image:
I=Import
M=Mfr
S=Scan
Destroy
Paper after
Imaged &
QC'd?
Comments / Reference
If the record is not listed here, refer to the Retention for City-Wide Standards Retentions begin when the act is completed, and imply a full file folder (e.g. last document + 2 years), since destruction is normally performed by file folder.
HOLDS: Litigation, complaints, claims, public records act requests, audits and/or investigations suspend normal retention periods (retention resumes after settlement or completion).
FINANCE / ACCOUNTS PAYABLE & PURCHASING
Finance /
Accounts
Payable &
Purchasing
FIN-001 1099's / 1096's 5 years Mag, Ppr
Department Preference; IRS: 4 years
after tax is due or paid (longer for
auditing & contractor delinquency); Ca.
FTB: 3 years; 26 CFR §31.6001-1(e)(2),
R&T §19530, GC §34090; 29 USC 436
Finance /
Accounts
Payable &
Purchasing
FIN-002
Accounts Payable / Invoices and Backup /
Warrants / Refunds / Credit Card
Statements / P-Card Statements
(Includes Invoices, Travel Expense
Reimbursements, etc.)
Excludes Grant Drawdowns with attached
proof of expenses (see Accounts
Receivable)
5 years Yes: Until
Paid
Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD
Department preference; 5 years meets
municipal government auditing
standards and Statute of Limitations for
contracts; Purchasing preference for P-
Card Invoices (48 CFR 4.805 requires
Federal Agencies to retain their
contracts, unsuccessful & successful
proposals 6 years after final payment);
CCP §337 et. seq.; GC §34090
Finance /
Accounts
Payable &
Purchasing
FIN-003 W-9s
Vendor
Inactive + 3
years
Yes: Until
Paid
Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD
Meets IRS Auditing Standards (3 years
after the last payment to the vendor);
GC §34090
Finance /
Accounts
Payable &
Purchasing
FIN-004 Vehicle Titles / Pink Slips Upon Sale of
Vehicle Ppr Provided to new owner upon sale; GC
§34090
FINANCE / ACCOUNTS RECEIVABLE
CATHEDRAL CITY, CA. ©1995-2022 Gladwell Governmental Services, Inc. - all rights reserved Do not duplicate or distribute without prior written permission from GGS (909) 337-3516 Adopted:
Ver. 5.0 RECORDS RETENTION SCHEDULE: FINANCE Page FIN-2 Office of
Record
(OFR)
Retention No. Records Description Total
Retention Vital? Media
Options
Image:
I=Import
M=Mfr
S=Scan
Destroy
Paper after
Imaged &
QC'd?
Comments / Reference
If the record is not listed here, refer to the Retention for City-Wide Standards Retentions begin when the act is completed, and imply a full file folder (e.g. last document + 2 years), since destruction is normally performed by file folder.
HOLDS: Litigation, complaints, claims, public records act requests, audits and/or investigations suspend normal retention periods (retention resumes after settlement or completion).
Finance /
Accounts
Receivable
FIN-005
Accounts Receivable / Revenue / Our
Invoices to Outside Entities: Insurance
Companies, Franchise Fees, DUI Billing,
Transient Occupancy Tax (TOT),
Auctions of Surplus Property, etc.
5 years Yes: Until
Paid
Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD
Department preference; Meets auditing
standards; GC §34090 et seq.
Finance /
Accounts
Receivable
FIN-006 Business Licenses - ALL (Applications &
Renewals) 5 years Yes: Until
Paid
Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD
Department preference; Meets auditing
standards; GC §34090 et seq.
Finance /
Accounts
Receivable
FIN-007
Cash Receipts / Daily Cash Summaries /
Cashiers Reports / Cash Reports / Petty
Cash, etc.
5 years Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD
Department preference; Meets auditing
standards; GC §34090 et seq.
Finance /
Accounts
Receivable
FIN-008 Grant Drawdowns with attached proof of
expenses 10 years Yes: Until
Paid
Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD
Department preference to ensure audits
by Grant Funders are met; Meets
auditing standards; GC §34090 et seq.
FINANCE / DEBT SERVICES
Finance /
Debt Services FIN-009
Bonds & Bond Sales / Official Statements /
Transcripts / Certificates of Participations
(COPs) - Includes Continuing Disclosure
Reports
See Bank Statements for statement
retention.
Fully
Defeased +
10 years
Yes: Until
Maturity
Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD
Department Preference; Statute of
Limitations for bonds, mortgages, trust
deeds, notes or debentures is 6 years;
Bonds issued by local governments are
10 years; There are specific
requirements for disposal of unused
bonds; CCP §§336 et seq. 337.5(a); 26
CFR 1.6001-1(e): GC §43900 et seq.
FINANCE / GENERAL LEDGER
Finance /
General
Ledger
FIN-010 _Financial Services Database (Tyler
Munis) Indefinite Yes Mag Data Fields / Records are interrelated; GC §34090
CATHEDRAL CITY, CA. ©1995-2022 Gladwell Governmental Services, Inc. - all rights reserved Do not duplicate or distribute without prior written permission from GGS (909) 337-3516 Adopted:
Ver. 5.0 RECORDS RETENTION SCHEDULE: FINANCE Page FIN-3 Office of
Record
(OFR)
Retention No. Records Description Total
Retention Vital? Media
Options
Image:
I=Import
M=Mfr
S=Scan
Destroy
Paper after
Imaged &
QC'd?
Comments / Reference
If the record is not listed here, refer to the Retention for City-Wide Standards Retentions begin when the act is completed, and imply a full file folder (e.g. last document + 2 years), since destruction is normally performed by file folder.
HOLDS: Litigation, complaints, claims, public records act requests, audits and/or investigations suspend normal retention periods (retention resumes after settlement or completion).
Finance /
General
Ledger
FIN-011 Audit Work Papers
When No
Longer
Required
Mag, Ppr Preliminary drafts / content not
substantive; GC §34090
Finance /
General
Ledger
FIN-012 Audits - Annual Financial Reports / Annual
Consolidated Financial Report (ACFR) P Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD Department Preference; GC §34090
Finance /
General
Ledger
FIN-013
Audits - Single Audits, Grant Audits, IRS
Audits, Transportation Audits, PERS Audit,
SEFA (Schedule of Expenditures of
Federal Awards), etc.
5 years Mag, Ppr
Department Preference (meets
municipal government auditing
standards); GC §34090
Finance /
General
Ledger
FIN-014
Bank Statements and Trustee Statements,
Fiscal Agent Statements, Investment
Account Statements, Bank Reconciliations
5 years Mag, Ppr
Department Preference; meets auditing
standards; GC §34090, 26 CFR
31.6001-1
Finance /
General
Ledger
FIN-015 Budgets - Finals and Amendments 5 years Mag, Mfr, OD, Ppr S / I Yes: After
QC & OD Department Preference; GC §34090
Finance /
General
Ledger
FIN-016 Budgets Work Papers
When No
Longer
Required
Mag, Ppr Preliminary drafts; GC §34090
Finance /
General
Ledger
FIN-017 Checks / Warrants (Cashed) - EFTs
(Electronic Funds Transfers) 5 years Mag, Mfr,
OD, Ppr S Yes: After
QC & OD
Meets municipal government auditing
standards; GC § 34090
Finance /
General
Ledger
FIN-018 Checks / Warrants (VOIDED)
When No
Longer
Required
Mag, Ppr Preliminary drafts; GC §34090
CATHEDRAL CITY, CA. ©1995-2022 Gladwell Governmental Services, Inc. - all rights reserved Do not duplicate or distribute without prior written permission from GGS (909) 337-3516 Adopted:
Ver. 5.0 RECORDS RETENTION SCHEDULE: FINANCE Page FIN-4 Office of
Record
(OFR)
Retention No. Records Description Total
Retention Vital? Media
Options
Image:
I=Import
M=Mfr
S=Scan
Destroy
Paper after
Imaged &
QC'd?
Comments / Reference
If the record is not listed here, refer to the Retention for City-Wide Standards Retentions begin when the act is completed, and imply a full file folder (e.g. last document + 2 years), since destruction is normally performed by file folder.
HOLDS: Litigation, complaints, claims, public records act requests, audits and/or investigations suspend normal retention periods (retention resumes after settlement or completion).
Finance /
General
Ledger
FIN-019 Escheat (Unclaimed money / uncashed
checks) 5 years Mag, Ppr
Department preference; All tangible
property held by government agencies
escheats after 3 years; Statute of
Limitations is 1 year for seized property;
CCP §§340(d), 1519; GC §34090
Finance /
General
Ledger
FIN-020 Investment Reports & Backup 5 years Mag, Ppr Department Preference; GC §34090 Finance /
General
Ledger
FIN-021
Investments / Investment Statements /
Certificate of Deposit / Investment Bonds
(Receipts / Advisor Reports / Trade
Tickets / LAIF (Local Agency Investment
Fund))
5 years Mag, Ppr
Department Preference; Meets auditing
standards; statewide guidelines
propose permanent; FTC Reg's rely on
"self-enforcement"; GC§§ 34090,
43900
Finance /
General
Ledger
FIN-022 Journal Entries / Journal Vouchers 5 years Mag, Ppr Department Preference; meets auditing
standards; GC §34090, 26 CFR
31.6001-1
Finance /
General
Ledger
FIN-023
Reports, General Ledger, Subsidiary
Ledgers, Reconciliations, Registers,
Transaction Histories, Balance Sheets,
Revenue & Expenditure Reports, etc.
(FROM DATABASE - ANNUAL,
MONTHLY OR PERIODIC)
When No
Longer
Required
Mag, Ppr
Department preference (The Financial
System Database is the original; reports
are considered drafts or copies); GC
§34090
Finance /
General
Ledger
FIN-024
Reports: Annual State or Federal: State
Controller's Report, Local Government
Compensation Report, Gas Tax, MOE
(Maintenance of Effort) Report, Street
Report, etc.
5 years Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD
Department Preference; Meets auditing
standards; GC §34090
Finance /
General
Ledger
FIN-025
Tax - Annual Tax Roll and Special
Assessments: Landscape and Lighting
Districts, etc.
5 years Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD
Department Preference; Meets auditing
standards; GC §34090
CATHEDRAL CITY, CA. ©1995-2022 Gladwell Governmental Services, Inc. - all rights reserved Do not duplicate or distribute without prior written permission from GGS (909) 337-3516 Adopted:
Ver. 5.0 RECORDS RETENTION SCHEDULE: FINANCE Page FIN-5 Office of
Record
(OFR)
Retention No. Records Description Total
Retention Vital? Media
Options
Image:
I=Import
M=Mfr
S=Scan
Destroy
Paper after
Imaged &
QC'd?
Comments / Reference
If the record is not listed here, refer to the Retention for City-Wide Standards Retentions begin when the act is completed, and imply a full file folder (e.g. last document + 2 years), since destruction is normally performed by file folder.
HOLDS: Litigation, complaints, claims, public records act requests, audits and/or investigations suspend normal retention periods (retention resumes after settlement or completion).
Finance /
General
Ledger
FIN-026 Tax - Sales Tax Reports (HdL)
When No
Longer
Required
Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD
Compilation of Non-Records /
Preliminary drafts used to project
revenue; GC §34090
FINANCE / PAYROLL
Finance /
Payroll FIN-027 CalPERS Reports - Annual Valuation
Reports, Actuarial Valuation Reports 5 years Mag, Ppr Department Preference; GC §34090 Finance /
Payroll FIN-028
DE-6, DE-7, DE-9, DE-34, DE-43, W-3 &
DE-166, 941 Forms, PERS / FICA &
Medicare Adjustments - Quarterly Payroll
Tax Returns / OASDI, Federal Tax
Deposits, Adjustments, etc.
5 years Mag, Ppr
Department Preference; IRS: 4 yrs after
tax is due or paid; Ca. FTB: 3 years;
Articles show 7 years; IRS Reg
§31.6001-1(e)(2), R&T §19530; 29CFR
516.5 - 516.6, 29USC 436, GC §34090
Finance /
Payroll FIN-029 Employee Benefit Enrollments / Payroll
Files
Separation +
5 years Mag, Ppr
Department preference; Meets
municipal government auditing
standards; GC §34090
Finance /
Payroll FIN-030 Garnishments
Satisfied + 2
years, or
Separation of
Employee
Mag, Ppr Department Preference; GC §34090
Finance /
Payroll FIN-031 Payroll Database Indefinite Yes Mag Data Fields / Records are interrelated; GC §34090
Finance /
Payroll FIN-032 Payroll Reports - Periodic Bi-weekly
Payroll Report 5 years Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD
Department preference; Meets
municipal government auditing
standards; PERS Circular letter 200-051-
17; GC §34090
CATHEDRAL CITY, CA. ©1995-2022 Gladwell Governmental Services, Inc. - all rights reserved Do not duplicate or distribute without prior written permission from GGS (909) 337-3516 Adopted:
Ver. 5.0 RECORDS RETENTION SCHEDULE: FINANCE Page FIN-6 Office of
Record
(OFR)
Retention No. Records Description Total
Retention Vital? Media
Options
Image:
I=Import
M=Mfr
S=Scan
Destroy
Paper after
Imaged &
QC'd?
Comments / Reference
If the record is not listed here, refer to the Retention for City-Wide Standards Retentions begin when the act is completed, and imply a full file folder (e.g. last document + 2 years), since destruction is normally performed by file folder.
HOLDS: Litigation, complaints, claims, public records act requests, audits and/or investigations suspend normal retention periods (retention resumes after settlement or completion).
Finance /
Payroll FIN-033 Time Cards / Time Sheets 5 years Mag, Mfr, OD, Ppr S / I Yes: After
QC & OD
Department preference; Meets auditing
standards (audit + 4 years); IRS
requires 4 years; Ca. requires 2 yr min.;
FTB keeps 3 years; IRS Reg §31.6001-
1(e)(2), R&T §19530; LC § 1174(d); 29
CFR 516.5; 29 CFR 516.5 & 516.6(c);
GC §34090
Finance /
Payroll FIN-034 W-2's 5 years Mag, Mfr,
OD, Ppr S / I Yes: After
QC & OD
Department preference for Grant
Auditing Purposes; Meets municipal
government auditing standards; GC
§34090
Finance /
Payroll FIN-035 W-4s
Superseded
or Separated
+ 5 years
Mag, Ppr
W-4s are required four years after the
due date of such tax for the return
period to which the records relate, or the
date such tax is paid, whichever is the
later. 26 CFR 31-6001-1; GC §34090
CATHEDRAL CITY, CA. ©1995-2022 Gladwell Governmental Services, Inc. - all rights reserved Do not duplicate or distribute without prior written permission from GGS (909) 337-3516 Adopted: