RECORDS RETENTION POLICY
AvaCon takes its obligations to preserve information and documents necessary for audits, financial or governmental reporting, litigation, or investigations seriously. Therefore, this policy is adopted to govern the records retention policy of the organization.
From time to time, the AvaCon Executive Board may issue a notice, known as a “legal hold”, suspending the destruction of records due to pending or otherwise foreseeable audits, government investigations, litigation, or similar proceedings. No records specified in any legal hold may be destroyed, altered, or modified, even if the scheduled destruction date has passed, until the legal hold is withdrawn in writing by the AvaCon Executive Board.
Electronic Documents & Records
Electronic documents will be retained as if they were paper documents. Therefore, any electronic files that fall into one of the document types on the schedule below will be maintained for the appropriate amount of time. Backup and recovery methods will be tested on a regular basis.
AvaCon Email Accounts
All first.last@avacon.org email accounts are hosted on a company server. Employees may not delete or remove email messages to preserve a record of all company communications.
Emergency Planning, Disaster Preparedness, & Business Continuity
AvaCon’s records will be stored in a safe, secure, and accessible manner. Documents and financial files that are essential to keeping the organization operating in an emergency will be duplicated and backed up and maintained off-site.
Document Destruction
The AvaCon Executive Board is responsible for the ongoing process of identifying its records, which have met the required retention period, and overseeing their destruction. Destruction of electronic documents will be accomplished by deleting all files, including archives and backup files, from backup media. Destruction of all paper documents will be accomplished by shredding.
Compliance
Failure on the part of employees to follow this policy can result in possible civil and criminal sanctions against AvaCon and its employees, and disciplinary action against responsible individuals. The AvaCon Executive Board will review these procedures annually and periodically with legal counel or the organization’s certified public accountant to ensure they are in compliance with new or revised regulations.
Retention Schedule
The information listed in the retention schedule below is intended as a guideline and may not contain all the records that AvaCon may be required to keep in the future. Questions regarding the retention of documents not listed in this chart should be directed to the AvaCon Executive Board.
Records Retention – 1 YEAR
Records Retention – 3 YEARS
General correspondence
Employment Applications
Job Descriptions>
Records of job offers
Interview notes
Interview tests or test results
IRS Form I-9 (Store separately from personnel file after separation, keep for 3 years)
Timecards or Time Keeping Reports
Records Retention – 4 YEARS
Conflict of Interest Disclosures
Records Retention – 7 YEARS
IRS Form 990 or 990-N
Charitable Organizations Registrations (for each state)
Financial Statements
Auditor Management Letters
Payroll Records
Check Registers & Checks
Bank Deposits & Statements
Chart of Accounts
General Ledgers and Journals (including bank reconciliations)
Equipment files and maintenance records (7 years after disposition)
Contracts and Agreements (7 years after all obligations end)
Accident Reports
Safety (OSHA) Reports
Claims (after settlement)
Group Disability Records (7 years after end of benefits)
Workers Compensation Claims (7 years after settlement)
Employee orientation and training materials (7 years after use ends)
W-2 or Federal Withholding Statements
Software Licenses or Support Agreements (7 years after all obligations end)
Records Retention – PERMANENT OR IN PERPETUITY
AvaCon Articles of Incorporation
AvaCon ByLaws
Board Meeting Agendas & Minutes
Committee Meeting Agendas & Minutes
IRS Tax Exemption Determination Letter
Company Policies
Insurance Policies
Leases
Employee Personnel Files
Employee Handbook
