Document Retention Policy
In order to meet all financial and legal data requirements, this policy sets the minimum retention periods for critical Analemma Society (AS) documents.
The Secretary shall keep the following records:
| Item | Description | Min Retention |
|
1
|
Letter of Determination |
Life of AS
|
|
2
|
Articles of Incorporation |
Life of AS
|
|
3
|
Bylaws |
Life of AS
|
|
4
|
Cooperative Agreements betweern FCPA and AS |
Life of AS
|
|
5
|
Policies |
Life of AS
|
|
6
|
Board Meeting Minutes |
10 years
|
|
7
|
Board Business Emails |
10 years
|
|
8
|
List of Board of Directors |
10 years
|
The Correspondence Secretary shall keep the following records:
| Item | Description | Min Retention |
|
1
|
Membership Listing |
3 years
|
The Treasurer shall keep the following records:
| Item | Description | Min Retention |
|
1
|
Monthly Treasurer's Reports |
10 years
|
|
2
|
Annual Treasurer's Reports |
Life of NASS
|
|
3
|
Restricted Funds Documentation |
Life of NASS
|
|
4
|
Bank Statements |
10 years
|
|
5
|
Bank Reconciliation Reports |
10 years
|
|
6
|
Purchase Invoices & Receipts |
10 years
|
|
7
|
Federal Income Tax |
Life of NASS
|
|
8
|
State Property Tax |
Life of NASS
|
|
9
|
Government Notices |
10 years
|
|
10
|
W-9 |
3 years
|
The designated AS Agent for Virginia shall keep the following records:
| Item | Description | Min Retention |
|
1
|
Letter of Determination |
Life of NASS
|
|
2
|
Articles of Incorporation |
Life of NASS
|
|
3
|
AS Bylaws |
Life of NASS
|
|
4
|
AS Policies |
Life of NASS
|
|
5
|
Federal Income Tax |
Life of NASS
|
|
6
|
State Property Tax |
Life of NASS
|
Documents may be retained longer than the minimum required period.
Analemma Society does not use charge card services for payment. No charge card data is stored at any time. Analemma Society does not routinely record or keep any member bank account information. In the event that bank account information must be used to complete payment transactions, the information may only be retained until the transactions are completed. All confidential information must then be destroyed by shredding.
In the event that W-9s must be issued, the records containing confidential information must be destroyed by shredding at the end of the retention period.
In addition to the above, electronic files critical to Analemma Society operation are to be routinely backed-up and back-ups are to be stored in a safe location. Critical electronic files include:
- QuickBooks or Excel Treasurer and Volunteer Hour Reports
- Membership Database
- Equipment Database
This policy shall be reviewed annually.
5 March 2016