ROWAN UNIVERSITY POLICY
Title: Records Retention
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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:
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Christine Brasteter
Adopted: 12/02/2016
Last Revision: 11/
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18/
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2020
Last Reviewed:
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11/
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18/
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2020
I. PURPOSE 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
II.
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ACCOUNTABILITY
- Under the direction of the President, the Senior Vice President of Finance and CFO, shall implement this policy and the Senior Director of the Office of Contracting & Procurement, or his/her designee, shall ensure compliance with the policy.
III. APPLICABILITY
- This policy applies to all public records created or received at Rowan University.
IV. DEFINITIONS
- Records Inventory – An inventory is a complete listing of records by record series, together with necessary descriptions and supporting information.
- Record Series – A group of identical or related records that is normally filed together, and that can be evaluated as a unit to determine how long they should be maintained.
- Retention Schedule – Include specific schedules that list record series unique to a particular, agency or office within an agency, and general records schedule that contain records that are common to most offices.
- Official Repository – The unit, department, or division designated as having responsibility for retention and timely destruction of particular types of University records. Such responsibility is assigned to the unit’s administrator or a designee.
- University Archives – The Archives collects and preserves records of historical, legal, fiscal, and administrative value. It provides permanent retention of official records of the University, its officers, and component parts; maps and architectural records; audiovisual materials; publications; and artifacts documenting the University’s history.
- University Archivist – The individual responsible for designating which University records have historical value, and affecting the transfer of all archival records from the office in which they originated or were received to the University Archives at such times and in the manner and form prescribed by the Archives.
- University Record – Any form of recorded information, regardless of physical characteristics, that is created, received, recorded, or legally filed in the course of University business or in the University’s legal obligations. University records serve as evidence of the University’s organization, functions, policies, decisions, procedures, operations, transactions, or other activities.
- Official Record – An official record can be in hard-copy form (e.g., paper, magnetic tape, film, etc.) or electronic form. An electronic document (e.g., e-mail, cloud-based documents, etc.) is considered a University record and is subject to the same retention period as the hard copy equivalent if the electronic document is created or received in the transaction of business; retained as evidence of official policies/decisions; and/or has historical significance or valuable informational content. However, if explicit permission is provided by the New Jersey Division of Revenue & Enterprise Services – Records Management Services (RMS), approving the electronic database and the specific records, the physical copies may be destroyed.
- Active Record – A record with current use for the unit, department, or division that generated it. Records remain active for varying numbers of years, depending on the purpose for which they were created.
- Archival Record – A record that is no longer required by the unit, department, or division in which it originated or was received, and that has permanent legal, institutional, or historical value.
- Inactive Record – A record with no current use for the unit, department, or division that generated it and that has not yet reached the end of its retention period.
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