Good recordkeeping is not only essential to the function of MPP, but it also helps MPP meet legal requirements for the retention of documents. This policy should be used to guide all document retention and destruction.

 

First and foremost:

  1. It is illegal to destroy any document anytime MPP is under federal investigation.
  2. It is illegal to alter, cover up, falsify, or destroy any document to prevent its use in an official proceeding.
  3. Emails are documents that should conform to all guidelines in this policy.

Guidelines for documents:

 3 Years  10 Years  Forever
Employment applications Accounts payable and receivable ledgers and schedules (in QuickBooks) Annual Reports to Secretaries of State / Attorneys General
Volunteer records Bank statements (with Vendor Files) Audit reports of accountants (in file cabinets behind front desk)
 4 Years Cash books (in QuickBooks) Contracts and leases still in effect
Correspondence, general Checks, Cancelled Financial statements (end-of-year)
 7 Years Contracts and leases (expired) Employee personnel records
Garnishment Records Depreciation schedules Donation records of endowment funds and of significant restricted funds
Donation records, other Correspondence (legal and important matters)
 Duplicate deposit slips Founding documents
 Invoices to “customers” General ledgers and end-of-year statements (in QuickBooks)
 Invoices from vendors Insurance policies (expired)
 Payroll records and summaries, including payments to pensioners Insurance records, current accident reports, claims, policies, etc.
 Time sheets and cards Minute books of Board of Directors, including Bylaws and Articles of Incorporation
Press releases / Public filings
Tax returns and worksheets, revenue reports, and other documents relating to determination of tax liability
Unemployment tax records

 

Failure on the part of any employee to comply with this policy will result in disciplinary action, up to and including termination, depending on the severity of the transgression.