Records Retention and Disposition Schedule - 12-15-2015

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AUDITS, LITIGATION AND OTHER OFFICIAL ACTION No record involved in a pending audit, legal or other official action may be destroyed before that audit or action is resolved. We have used an asterisk(*) in the disposition instructions to mark records series that are commonly audited, litigated or maybe subject to other official actions; however, any record has this potential. Records custodians are responsible for being aware of potential actions, and for preventing the destruction of any record that is, or may be reasonably expected to become, involved in an audit, legal or other official action. Records used during routine audits may be destroyed when the governing body accepts the audit, if the records have completed the retention period listed in this schedule. If time remains in the retention period, the records must be maintained for the remainder of the period. The auditor's working papers must be kept according to the schedule. (See AUDITS: PERFORMANCE Item 7, page 2 and AUDITS: FINANCIAL Item 6, page 22.) Should a dispute arise over an audit,the records that were audited should be retained until that dispute is resolved. The attorney representing the county should inform records custodians when legal matters are concluded and records will no longer be needed. Following the conclusion of any legal action, the records may be destroyed if they have met the retention period in the schedule. Otherwise,they should be kept for the remaining time period. Per 26 CFR 1.148-5(d)(6)(iii)(E), retain all documents related to a financing, including those related to construction or purchase of the financed asset, for the life of the debt plus 3 years. vi