Listed here are six state financial retention schedules to be overwritten by the new financial schedule approved December 8th by the State Records Committee. If a retention schedule is overwritten by an updated schedule, it will be hyperlinked to the new schedule on our website.
The State Auditor’s Office also reviewed the schedule before it was seen by the State Records Committee. We hope this schedule will make the retention of many financial records simpler to manage.
Please update your records so the updated retention will be followed from this point going forward. Below is the updated schedule, then the schedules being removed from the general retention schedule. If you have any questions, please call us at 801-531-3863.
Updated Schedule:
Budget Records (SG 7-67)
These records are used to document the intended appropriation of funds. Information may include budget requests, proposals, and reports documenting the status of appropriations.
Retention: Retain for 4 years and then destroy. (Approved 12/2016)
Schedules to be replaced:
Cost Report Data Files (SG 7-16)
Ledgers and forms used to accumulate data for use in cost reports.
Retention: Retain by agency for 3 years and then destroy. (Approved 07/1990)
General Accounting Ledger (SG 7-25)
General accounts ledger, showing debit and credit entries, and reflecting expenditures in summary.
Retention: Retain for 7 years and then destroy. (Approved 07/1990)
Petty Cash Records (SG 7-33)
Records which verify all monies received or expended through a petty cash account. Includes cash receipts, adding machine tapes, daily accounting records, reconciliation, transmittals, etc.
Retention: Retain by agency for 3 years and then destroy. (Approved 07/1990)
Journal Entry Records (SG 7-52)
Entries listing adjustments to an organization’s credit or debit financial statements. They contain the Division of Finance form FI-35, which lists the credit or debit adjustment, explanation of entry, and approval signature.
Retention: Retain by the Division of Finance for 10 years and then destroy. (Approved 12/1992)
Financial Information Network (FI-NET) Reports (SG 7-55)
Reports of accounting information contained in the state accounting system, including budget, grant, payroll, revenue expense, accounting reports, and bank reconciliations.
Retention: Retain by the Division of Finance for 7 years and then destroy. (Approved 06/1996)
Budget Authorization Records (SG 10-2)
Copies of budget authorizations in operating payroll units used to control personnel ceilings and personnel actions.
Retention: Retain for 2 years and then destroy. (Approved 10/2001)