Records will be retained according to the established record retention classification and category as indicated below. Records that are no longer required or have satisfied their required periods of retention are to be disposed if in appropriately. Records relevant to a legal action are not to be destroyed and any questions regarding these types of records should be forwarded to legal counsel. Specific requirements, responsibilities and retention periods applicable to USB records are described below. All staff and contractor personnel are responsible for ensuring that accurate and complete records are identified, retained, stored, protected and subsequently destroyed, within their area of assigned responsibility, in accordance with the requirements specified below. Definitions Completion – indicates the completion or ending date of a defined project or file. Records – any documentary material, regardless of physical form or electronic form, that is generated or received by USB in connection with transacting its business, is related to USB’s legal obligations and is retained for any period of time. Documentary material containing personal information, such as an appointment calendar, is considered a record.
  • Active Records – records that continue to satisfy an immediate use requirement.
  • Inactive Records – records for which use or reference diminishes sufficiently to permit removal from the immediate area of the responsible custodian without impairing normal business.
  • Official Records – records that furnish the most conclusive information. If not stipulated otherwise, this is the record to which retention schedules apply. It may be other than the original or first copy, or the one used as the master.
  • Permanent Records – records that are ineligible for destruction.
Records Center – a designated area, typically off-site, that is utilized for organized storage, control and protection of inactive records, usually for a specified period of time. Records retention/cleanout day – the day designated, once yearly, for the office-wide review/destruction of physical and electronic files and documents. Retention period expressed as a certain number of years – the document should be disposed of after the specified number of years have passed, on the anniversary of its creation or, at the latest, by the yearly USB records retention/cleanout day. Fiscal Year Originated – means the fiscal year during which the record was originated or acquired. “Fiscal Year Originated + 3” means that if the document was originated this fiscal year, it is to be kept the rest of this fiscal year plus three more fiscal years. Procedure I. File Naming A. The following naming convention is used to easily identify and maintain electronic files for record retention purposes:
        1. Year, Month, Day, Record Retention Classification, File Name (i.e. 2015 05 18 A QSSBAgreementXYZ)
II. Records Screening A. Records are to be screened periodically to determine if they are Active or Inactive (see Definitions). Active records are to be stored in the immediate area of the responsible custodian. B. Records determined to be Inactive are to be reviewed for possible storage in the designated Records Center (see Definitions). An assessment is to be made of the:
        1. Need for retention
        2. Frequency of reference
        3. Name of reference
        4. Established retention period
        5. Filing requirements
        6. Volume of files
C. For printed material, drafts, and duplicates, as well as binder clips, are to be eliminated. Whenever possible, Official Record (see Definitions) is the one to be retained. Official Records are not to contain personal notations, other than the author’s signature. D. For electronic material, once finalized, all drafts and duplicates are to be removed from appropriate locations. III. Record Storage A. Record Center Storage
        1. Record Centers are to be in a safe, secure location and protected from environmental and other potential harm.
        2. Record storage containers are to be labeled by year or specified periods and with sufficient detail to facilitate their reference, review and destruction. Each record storage container should include a listing of the files housed in that container.
B. Electronic Storage
        1. The record retention procedures and periods set forth below are applicable to electronic records. Records generated and maintained in company information systems or equipment (including the network drive) are to be periodically reviewed by the responsible party to ensure that the record retention requirements are being met for electronic information systems.
        2. Records stored in electronic media are to be grouped in a fashion to facilitate review and destruction at appropriate intervals.
C. Record Destruction
        1. USB record destruction shall be conducted as set forth below to be performed on an annual basis. During, or as a result of, this process:
A. Records that require retention are to be identified, grouped, labeled, and stored appropriately. B. Records that have exceeded their required retention period are to be reviewed and destroyed, and 2. USB Management will ensure that the business files of terminating staff are reviewed and purged concurrent with the staff’s departure. D. Responsibilities
        1. Staff/contractor personnel is responsible for assisting in the record retention process. Such responsibilities generally include:
A. Supporting preparation and maintenance of local record retention schedules; B. Identifying, packaging, documenting and storage of records; C. Retaining only those records assigned to their function/custodial responsibility; D. Reviewing and authorizing destruction of records at the retention expiration date.
Retention Period Category
Permanent A
10 Fiscal Years after the termination/expiration of the lease/permit/agreement B
5 Fiscal Years from completion of the project C
To be determined D
7 Fiscal Years after fiscal year-end E
5 Fiscal Years after superseded or fiscal year-end F
5 Fiscal Years from contract expiration G
Fiscal year originated +2 H
Expiration of exemption +5 Fiscal Years I
Duration of employment + 3 Fiscal Years J
Until purpose served or as required by law K
USB expectation – 13 months; System Enforced – 18 months L
 
Classification Category
1. ADMINISTRATIVE 
A. Manuals
i. USB Policy and other directives that express or interpret policy
        • Originating office file copy
F
 ii. Procedural Manuals and other directives that are procedural only and do not express new policy or interpretation
        • Originating office file copy
F
B. Reports
i. Administrative – Internal
ii. Annual (year-end) E
iii. Quarterly E
C. USDA Chairperson Correspondence
i. Letters
        • Supporting a document or project
A
2. CONTRACTS AND AGREEMENTS
A. Contracts (including Addendums) and final reports G
B. Building leases, permits and operating agreements
        • Signed original
B
 3. CORPORATE RECORDS
A. Certificates of Incorporation, Bylaws A
B. Minutes of Board Meetings, Action Team and Support Committees
        • Record copy
A
C. QSSB Consulting and Oversight
        • Agreements and Contracts
A
        • Compliance Review Reports
A
        •  Other Compliance (excluding QSSB financial records)
A
D. Long-Range Strategic Plans F
E. Strategies, Action Plans F
 4. PROJECT FILES
A. Official file (Agreements, Final Reports, Subcontractor Agreements, etc) C
B. Supporting documentation/notes/work papers C
5. INSURANCE
A. Annual Insurance Policy A
B. Insurance Claim Files A
C. Insurance certificates furnished by contractors working on USB premises A
 6. TAX
A. Exemption Certificates  I
7. EMPLOYMENT RECORDS
A. Application, Resume, and Job Description
i. If hired J
B. Employment contracts J
C. Performance appraisals, and goals J
8. COMPLIANCE
A. Data collected to demonstrate compliance
i. All copies K
9. ELECTRONIC RECORDS
A. Email correspondence [not inclusive of the USB record retention classification]  L
 
Retention Period Category
Permanent A
10 Fiscal Years after the termination/expiration of the lease/permit/agreement B
5 Fiscal Years from completion of the project C
To be determined D
7 Fiscal Years after fiscal year-end E
5 Fiscal Years after superseded or fiscal year-end F
5 Fiscal Years from contract expiration G
To be determined H
Expiration of exemption + 5 Fiscal Years I
Duration of employment + 3 Fiscal Years J
Until purpose served or as required by law K
USB expectation – 13 monthsSystem Enforced – 18 months L
 
Classification  Category
 1. Financial
A. Audited financial statements and auditor communications to those charged with governance A
B. Corporate insurance agreements A
C. Financial Information
i. Monthly financial close information F
ii. Monthly journal entries F
iii. Monthly cash receipts information F
iv. Monthly accounts receivable information F
v. Monthly bank and investment reconciliations F
vi. Vendor invoices E