The Sarbanes-Oxley Act, signed into law in 2002, was designed to add new governance standards for the corporate sector to rebuild public trust in publicly held companies. While the majority of the act deals directly with for profit corporations, two standards in the act – document destruction and whistleblower protection – cover non-profit corporations. While the majority of the act deals directly with for profit corporations, two standards in the act, document destruction and whistle-blower protection, cover non-profit corporations. The following policy covers our document destruction and retention policies. Whereas, our whistle-blower policy is written as a separate document.Tri County Animal Rescue, Boca Raton (TCHS) shall retain records for the period of their immediate or current use, unless longer retention is necessary for historical reference or to comply with contractual or legal requirements. Records and documents outlined in this policy include paper, electronic files (including e-mail) and voicemail records regardless of where the document is stored, including network servers, desktop or laptop computers and handheld computers and other wireless devices with text messaging capabilities.

A TCHS employee shall not knowingly destroy a document with the intent to obstruct or influence and “investigation or proper administration of any matter within the jurisdiction of any department agency of the United States….or in relation to or contemplation of such matter or case.” If an official investigation is underway or even suspected, document purging must stop in order to avoid criminal obstruction. In order to eliminate accidental or innocent destruction, TCHS has the following document retention requirements:

 

Document Type

Duration of Retention

Accounts receivable & payable ledgers

7 years

Articles of Incorporation and by laws

Permanently Audit reports & Financial Statements

Permanently Bank Reconciliation, statements, balances, Fund transfer documents & cancelled checks3 Years

Chart of Accounts

Permanently Check Ledgers

Permanently Contracts (Adoption)

Permanently Contracts (still in effect)

Permanently Correspondence (general)

3 years

Correspondence (legal and important matters)

Permanently Correspondence (client, volunteer, vendor) 1 year Deeds, mortgages and bills of sale

Permanently Donations

7 years

Employee demographic info and compensation records (Davis-Bacon Act, Service Contract Act & Walsh-Healy Public Contract Act)

3 years

Employment application (depending on the number of employees, employers must retain applications and other or taking the personnel action personnel records relating to hires, rehires, tests, promotions, transfers, demotions, selection for training, layoffs, recall, termination or discharge) (Civil Rights Act of 1964, Title VII, ADA, ADEA)

3 years from making the record

Expense Analyses/Expense Distribution Schedules

7 years

Garnishments

7 years

Grants (un-funded)

1 year

Grants (funded)

7 years after closure

I-9Term of employment and 1 year there after

Insurance records, current accident reports, claims, policies, etc.

Permanently Internal audit reports7 years

Invoices (vendors)

7 years

Inventory records

7 years

Loan documents and notes

Permanently

Payroll records & summaries including records related to employee leave (Equal Pay Act, FLSA)

7 years

Personnel files (terminated employees) (Title VII, ADA, ADEA)

7 years after termination

Polygraph test results and records (Employee Polygraph Protection Act)

3 years

Purchase Orders

7 years

Tax Returns and worksheets including W-2’s

Permanently Timesheets

7 years

Trademark registration and copyrights

Permanently

Withholding tax statements (FICA, FUTA, Federal Income)

7 years

Worker Compensation documentation

10 years after 1st closure

 

2012 Audit