The Council follows the League of Cities guidelines, as stated in its book Record Retention Manual for Cities, 2008. A sampling of those guidelines are listed below.
Schedule II: Financial Records | ||
Record Title | Retention Period | Reason |
Schedule II: Financial Records | ||
Record Title | Retention Period | Reason |
I. Revenue | ||
A. Notice of property tax allocation from county | 10 years | Fiscal value ends |
B. Notice of liquor tax allocation from state | 10 years | Fiscal value ends |
D. Federal revenue sharing records (EP11, statement of assurances that city will follow rules; ORS Form 3233 plus a letter describing data used to determine allocation; and OMB Form 48-R0506, Actual Use Report) | 10 years | Fiscal value ends |
E. Investments (Notice of interest earned or reports of growth, dividends, purchase, sale, etc.) | 10 years | Fiscal value ends |
F. Parking revenue | 10 years | Fiscal value ends |
G. Road Use Tax Fund records | 10 years | Fiscal value ends |
1. Application for financial aid | 10 years | Fiscal value ends |
2. Annual street finance report | 10 years | Fiscal value ends |
3. Street construction program | 10 years | Fiscal value ends |
4. Arterial street maps | 10 years | Continuing historical value |
H. Claims for refunds of state sales tax | 10 years | Fiscal value ends |
I. Claims for refunds of state fuel tax | 10 years | Fiscal value ends |
J. Special assessments | ||
1. Certified mail stubs from notice to property owners | 10 years | Fiscal and legal value ends |
2. Assessment title searches | 10 years | Fiscal and legal value ends |
3. Preliminary and final assessment schedules | 10 years after final payment | Fiscal and legal value ends |
4. Petition and waiver (agreements to special assessments) | 10 years after final payment | Fiscal and legal value ends |
5. Assessment plats | 10 years after final payment | Fiscal and legal value ends |
6. Certificate of levy of final assessment | 10 years after final payment | Fiscal and legal value ends |
K. Bond issues and proceedings | ||
1. Bond certificates | 10 years after final recall | Fiscal value ends |
2. Redeemed coupons | 10 years after final recall | Fiscal value ends |
3. Bond register | Iowa Code § 372.13(5) | Administrative, legal and historical value |
4. Proceedings (notice and call of public meeting, minutes and certificate of referendum, legal opinions) | Iowa Code § 372.13(5) | Continuing fiscal, administrative, legal and historical value |
5. Remittance advice received with payments | 10 years | Fiscal value ends |
L. Records of federally funded public improvement projects | 10 years after final payment | Fiscal value ends |
II. Accounting | ||
A. Source documents | ||
1. Accounts payable | ||
a. Requisitions | 10 years | Fiscal value ends |
b. Purchase orders | 10 years | Fiscal value ends |
c. Invoices, statements, bills | 10 years | Fiscal value ends |
d. Claims presented to council | 10 years | Fiscal value ends |
e. Check/warrant copies or stubs | 10 years | Fiscal value ends |
f. Vendor ledger cards | 10 years | Fiscal value ends |
2. Accounts receivable | 10 years | Fiscal value ends |
a. Receipt copies or books | 10 years | Fiscal value ends |
b. Daily cash receipt tabulations (cash register tapes, validator tallies, etc.) | 10 years | Fiscal value ends |
c. Invoices, statements, bills | 10 years | Fiscal value ends |
B. Books of original entry | ||
1. Receipt journal (register) | 10 years | Fiscal value ends |
2. Disbursement journal (register) | 10 years | Fiscal value ends |
3. General journal | 10 years | Fiscal value ends |
4. Appropriations journal (where maintained) | 10 years | Fiscal value ends |
C. Ledgers | ||
1. General ledger | Permanent | Continuing fiscal value |
2. Subsidiary revenue ledger cards | 10 years | Fiscal value ends |
3. Subsidiary appropriation/expenditure cards | 10 years | Fiscal value ends |
III. Banking | ||
A. Checking account statements | 10 years | Fiscal value ends |
B. Check/warrant register | 10 years | Fiscal value ends |
C. Cancelled checks/warrants | 10 years | Fiscal value ends |
D. Savings account statements | 10 years | Fiscal value ends |
E. Reconciliation worksheets | 10 years | Fiscal value ends |
IV. Financial reports | ||
A. Annual Financial report | Permanent | Continuing fiscal value |
B. Treasurer’s and/or clerk’s report | 10 years | Fiscal value ends |
C. Sales tax and use tax | 10 years | Statute of limitations on audits |
D. Grant reports | 10 years after audit; 10 years if not audited; grant terms if not stated therein | Fiscal value ends |
V. Audits | Permanent | Continuing fiscal and historical value |
VI. Budget | ||
A. Appropriation requests from departments | 10 years | Fiscal value ends |
B. Annual budget forms | 10 years | Fiscal value ends |
C. Final budget and certificate summary 2 copies | Permanent | Continuing fiscal and historical value |
D. Budget amendments 2 copies | Permanent | Continuing fiscal and historical value |
(Prior Code, Art. 15, Ch. 1, § 2) (Ord. 31, passed - -)