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Title: Records Retention
Subject: Contracting and Procurement
Policy No: FIN: 2015:11
Applies: University-Wide
Issuing Authority: President
Responsible Officer: SeniorVice President for Finance and CFO
Record Retention Manager: Christine Brasteter
Adopted: 12/02/2016
Last Revision: 11/18/2020
Last Reviewed: 11/1815/20202021
I. PURPOSE
- This policy is designed to meet legal and regulatory standards to ensure that public records are destroyed properly, with the additional benefits:
- Economies - Cost avoidance or savings through reduced purchase and maintenance of real estate, equipment and supplies; and
- Efficiencies - Increases in efficiency and safety through the removal of unnecessary files, and reductions in staff time allocated to managing unneeded files.
- Avoidance of Potential Problems Associated with Noncompliance, such as:
- Unplanned expenses of financial settlements or loss of revenues
- Disruption of efficiency due to gaps in information
- Irretrievable loss of historical legacy
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