Table of Contents
Corporate and General 1. Reports to stockholders.2. Organizational documents.3. Contracts including amendments and agreements.4. Accountants' and auditors' reports.
Information Technology Management 5. Automatic data processing records.
General Accounting Records 6. General and subsidiary ledgers.7. Journals: General and subsidiary.8. Journal vouchers and entries.9. Cash books.10. Voucher registers.11. Vouchers.
Insurance 12. Insurance records.
Operations and Maintenance 13.1. Production--Public utilities and licensees (less nuclear).13.2 Production--Nuclear.14. Transmission and distribution--Public utilities and licensees.15. Maintenance work orders and job orders.
Plant and Depreciation 16. Plant ledgers.17. Construction work in progress ledgers.18. Retirement work in progress ledgers.19. Summary sheets.20. Appraisals and valuations.21. Engineering records.22. Contracts relating to utility plant.23. Reclassification of utility plant account records.24. Accumulated depreciation and depletion of utility plant account
records.
Purchase and Stores 25. Procurement.26. Material ledgers. 27. Materials and supplies received and issued.28. Records of sales of scrap and materials and supplies.
Revenue Accounting and Collection 29. Customers' service applications and contracts.30. Rate schedules.31. Maximum demand and demand meter record cards.32. Miscellaneous billing data.33. Revenue summaries.
Tax 34. Tax records.
Treasury 35. Statements of funds and deposits.36. Records of deposits with banks and others.
Miscellaneous 37. [Reserved.]38. Statistics.39. Budgets and other forecasts.40. Records of predecessors companies.41. Reports to Federal and State regulatory commissions.42. Advertising.
Schedule of Records and Periods of Retention------------------------------------------------------------------------
Item No. and description Retention period------------------------------------------------------------------------
Corporate and General
1. Reports to stockholders: Annual 5 years.
reports or statements to stockholders.2. Organizational documents:
(a) Minute books of stockholders', 5 years or termination of the
directors', and directors' corporation's existence,
committee meetings. whichever occurs first.
(b) Titles, franchises, and 6 years after final non-
licenses: Copies of formal orders appealable order.
of regulatory commissions served
upon the utility.3. Contracts, including amendments and
agreements (except contracts provided
for elsewhere):
(a) Service contracts, such as for All contracts, related
management, accounting, and memoranda, and revisions
financial services. should be retained for 4 years
after expiration or until the
conclusion of any contract
disputes pertaining to such
contracts, whichever is later.
(b) Contracts with others for All contracts, related
transmission or the purchase, sale memoranda, and revisions
or interchange of product. should be retained for 4 years
after expiration or until the
conclusion of any contract
disputes or governmental
proceedings pertaining to such
contracts, whichever is later.
(c) Memoranda essential to For the same periods as
clarifying or explaining contracts to which they
provisions of contracts listed relate.
above, including requests for
discounts.
(d) Card or book records of For the same periods as
contracts, leases, and agreements contracts to which they
made, showing dates of expirations relate.
and of renewals, memoranda of
receipts, and payments under such
contracts.4. Accountants' and auditors' reports:
(a) Reports of examinations and 5 years after the date of the
audits by accountants and auditors report.
not in the regular employ of the
utility (such as reports of public
accounting firms and commission
accountants).
(b) Internal audit reports and 5 years after the date of the
working papers. report.
Information Technology Management
5. Automatic data processing records Retain as long as it represents
(retain original source data used as an active viable program or
input for data processing and data for periods prescribed for
processing report printouts for the related output data, whichever
applicable periods prescribed is shorter.
elsewhere in the schedule): Software
program documentation and revisions
thereto.
General Accounting Records
6. General and subsidiary ledgers:
(a) Ledgers:
(1) General ledgers............ 10 years.
(2) Ledgers subsidiary or 10 years.
auxiliary to general ledgers
except ledgers provided for
elsewhere.
(b) Indexes:
(1) Indexes to general ledgers. 10 years.
(2) Indexes to subsidiary 10 years.
ledgers except ledgers
provided for elsewhere.
(c) Trial balance sheets of general 2 years.
and subsidiary ledgers.7. Journals: General and subsidiary.... 10 years.8. Journal vouchers and journal entries
including supporting detail:
(a) Journal vouchers and journal 10 years.
entries.
(b) Analyses, summarization,
distributions, and other
computations which support journal
vouchers and journal entries:
(1) Charging plant accounts.... 25 years. See Sec. 125.2(g).
(2) Charging all other accounts 6 years.9. Cash books: General and subsidiary 5 years after close of fiscal
or auxiliary books. year.10. Voucher registers: Voucher 5 years. See Sec. 125.2(g).
registers or similar records when used
as a source document.11. Vouchers:
(a) Paid and canceled vouchers (one 5 years. See Sec. 125.2(g).
copy-analysis sheets showing
detailed distribution of charges
on individual vouchers and other
supporting papers).
(b) Original bills and invoices for 5 years. See Sec. 125.2(g).
materials, services, etc., paid by
vouchers.
(c) Paid checks and receipts for 5 years.
payments of specific vouchers.
(d) Authorization for the payment 5 years. See Sec. 125.2(g).
of specific vouchers.
(e) Lists of unaudited bills Destroy at option.
(accounts payable), list of
vouchers transmitted, and
memoranda regarding changes in
audited bills.
(f) Voucher indexes................ Destroy at option.
Insurance
12. Insurance records:
(a) Records of insurance policies Destroy at option after
in force, showing coverage, expiration of such policies.
premiums paid, and expiration
dates.
(b) Records of amounts recovered 6 years. See Sec. 125.2(g).
from insurance companies in
connection with losses and of
claims against insurance
companies, including reports of
losses, and supporting papers.
Operations and Maintenance
13.1 Production--Public utilities and
licensees (less Nuclear):
(a) Boiler-tube failure report..... 3 years.
(b) Generation and output logs with 3 years.
supporting data:.
(c) Station and system generation
reports and clearance logs:
(1) Hydro-electric............. 25 years. See Sec. 125.2(g).
(2) Steam and others........... 6 years. See Sec. 125.2(g).
(d) Generating high-tension and low- 3 years.
tension load records.
(e) Load curves, temperature logs, 3 years.
coal, and water logs.
(f) Gauge-reading reports.......... 2 years, except river flow data
collected in connection with
hydro operation must be
retained for life of
corporation.
(g) Recording instrumentation 1 year, except where the basic
charts. chart information is
transferred to another record,
the charts need only be
retained 6 months provided the
record containing the basic
data is retained 1 year.13.2 Production--Nuclear:
For informational purposes, refer
to the document retention
requirements of the Nuclear
Regulatory Commission.14. Transmission and distribution--
Public utilities and licensees.
(a) Substation and transmission 3 years.
line logs.
(b) System operator's daily logs 3 years.
and reports of operation.
(c) Transformer history records.... For life of transformer.
(d) Records of transformer Destroy at option.
inspections, oil tests, etc.15. Maintenance work orders and job
orders:
(a) Authorizations for expenditures 5 years.
for maintenance work to be covered
by work orders, including
memoranda showing the estimates of
costs to be incurred.
(b) Work order sheets to which are 5 years.
posted in detail the entries for
labor, material, and other charges
in connection with maintenance,
and other work pertaining to
utility operations.
(c) Summaries of expenditures on 5 years.
maintenance and job orders and
clearances to operating other
accounts (exclusive of plant
accounts).
Plant and Depreciation
16. Plant ledgers:
(a) Ledgers of utility plant 25 years. See Sec. 125.2(g).
accounts including land and other
detailed ledgers showing the cost
of utility plant by classes.
(b) Continuing plant inventory 25 years. See Sec. 125.2(g).
ledger, book or card records
showing description, location,
quantities, cost, etc., of
physical units (or items) of
utility plant owned.17. Construction work in progress
ledgers, work orders, and supplemental
records:
(a) Construction work in progress 5 years after clearance to
ledgers. plant account, provided
continuing plant inventory
records are maintained;
otherwise 5 years after plant
is retired.
(b) Work orders sheets to which are 5 years after clearance to
posted in summary form or in plant account, provided
detail the entries for labor, continuing plant inventory
materials, and other charges for records are maintained;
utility plant additions and the otherwise 5 years after plant
entries closing the work orders to is retired.
utility plant in service at
completion.
(c) Authorizations for expenditures 5 years after clearance to
for additions to utility plant, plant account except where
including memoranda showing the there are ongoing Commission
detailed estimates of cost, and proceedings.
the bases therefor (including
original and revised or subsequent
authorizations).
(d) Requisitions and registers of 5 years after clearance to
authorizations for utility plant plant account except where
expenditures. there are ongoing Commission
proceedings.
(e) Completion or performance 5 years after clearance to
reports showing comparison between plant account except where
authorized estimates and actual there are ongoing Commission
expenditures for utility plant proceedings.
additions.
(f) Analysis or cost reports 5 years after clearance to
showing quantities of materials plant account except where
used, unit costs, number of man- there are ongoing Commission
hours etc., in connection with proceedings.
completed construction project.
(g) Records and reports pertaining Destroy at option.
to progress of construction work,
the order in which jobs are to be
completed, and similar records
which do not form a basis of
entries to the accounts.18. Retirement work in progress
ledgers, work orders, and supplemental
records:
(a) Work order sheets to which are 5 years after plant is retired.
posted the entries for removal
costs, materials recovered, and
credits to utility plant accounts
for cost of plant retirement.
(b) Authorizations for retirement 5 years after plant is retired.
of utility plant, including
memoranda showing the basis for
determination to be retired and
estimates of salvage and removal
costs.
(c) Registers of retirement work... 5 years.19. Summary sheets, distribution 5 years.
sheets, reports, statements, and
papers directly supporting debits and
credits to utility plant accounts not
covered by construction or retirement
work orders and their supporting
records.20. Appraisals and valuations:
(a) Appraisals and valuations made 3 years after appraisal.
by the company of its properties
or investments or of the
properties or investments of any
associated companies. (Includes
all records essential thereto.).
(b) Determinations of amounts by
which properties or investments of
the company or any of its
associated companies will be
either written up or written down
as a result of:
(1) Mergers or acquisitions.... 10 years after completion of
transaction or as ordered by
the Commission.
(2) Asset impairments.......... 10 years after recognition of
asset impairment.
(3) Other bases................ 10 years after the asset was
written up or down.
21. The original or reproduction of Retain until retired.
engineering records, drawings, and
other supporting data for proposed or
as-constructed utility facilities:
Maps, diagrams, profiles, photographs,
field survey notes, plot plan, detail
drawings, records of engineering
studies, and similar records showing
the location of proposed or as-
constructed facilities.22. Contracts relating to utility
plant:
(a) Contracts relating to 6 years after plant is retired
acquisition or sale of plant. or sold.
(b) Contracts and other agreements 6 years after plant is retired
relating to services performed in or sold.
connection with construction of
utility plant (including contracts
for the construction of plant by
others for the utility and for
supervision and engineering
relating to construction work).23. Records pertaining to 6 years.
reclassification of utility plant
accounts to conform to prescribed
systems of accounts including
supporting papers showing the bases
for such reclassifications.24. Records of accumulated provisions
for depreciation and depletion of
utility plant and supporting
computation of expense:
(a) Detailed records or analysis 25 years.
sheets segregating the accumulated
depreciation according to
functional classification of plant.
(b) Records reflecting the service 25 years.
life of property and the
percentage of salvage and cost of
removal for property retired from
each account for depreciable
utility plant.
Purchase and Stores
25. Procurement:
(a) Agreements entered into for the
acquisition of goods or the
performance of services. Includes
all forms of agreements not
specifically set forth in
Subsection 7 such as but not
limited to: Letters of intent,
exchange of correspondence, master
agreements, term contracts, rental
agreements, and the various types
of purchase orders:
(1) For goods or services 6 years. See Sec. 125.2(g).
relating to plant construction.
(2) For other goods or services 6 years.
(b) Supporting documents including 6 years. See Sec. 125.2(g).
accepted and unaccepted bids or
proposals (summaries of unaccepted
bids or proposals may be kept in
lieu of originals) evidencing all
relevant elements of the
procurement.26. Material ledgers: Ledger sheets of 6 years after the date the
materials and supplies received, records/ledgers were created.
issued, and on hand27. Materials and supplies received and 6 years. See Sec. 125.2(g).
issued: Records showing the detailed
distribution of materials and supplies
issued during accounting periods28. Records of sales of scrap and
materials and supplies:
(a) Authorization for sale of scrap 3 years.
and materials and supplies.
(b) Contracts for sale of scrap 3 years.
materials and supplies.
Revenue Accounting and Collecting
29. Customers' service applications and 4 years after expiration.
contracts: Contracts, including
amendments for extensions of service,
for which contributions are made by
customers and others30. Rate schedules: General files of 6 years after published rate
published rate sheets and schedules of sheets and schedules are
utility service. Including schedules superseded or no longer used
suspended or superseded to charge for utility service.31. Maximum demand, and demand meter 1 year, except where the basic
record cards chart information is
transferred to another record
the charts need only be
retained 6 months, provided
the basic data is retained 1
year.32. Miscellaneous billing data: Billing Destroy at option.
department's copies of contracts with
customers (other than contracts in
general files)33. Revenue summaries: Summaries of 5 years.
monthly operating revenues according
to classes of service. Including
summaries of forfeited discounts and
penalties
Tax
34. Tax records:
(a) Copies of tax returns and
supporting schedules filed with
taxing authorities, supporting
working papers, records of appeals
of tax bills, and receipts for
payment. See Subsection 11(b) for
vouchers evidencing disbursements:
(1) Income tax returns......... 2 years after final tax
liability is determined.
(2) Property tax returns....... 2 years after final tax
liability is determined.
(3) Sales and other use taxes.. 2 years.
(4) Other taxes................ 2 years after final tax
liability is determined.
(5) Agreements between 2 years after final tax
associate companies as to liability is determined.
allocation of consolidated
income taxes.
(6) Schedule of allocation of 2 years after final tax
consolidated Federal income liability is determined.
taxes among associate
companies.
(b) Filings with taxing 5 years after discontinuance of
authorities to qualify plan.
employee benefit plans.
(c) Information returns and 3 years after final tax
reports to taxing authorities. liability is determined.
Treasury35. Statements of funds and deposits... For nuclear decommissioning
funds, retain records for all
items listed for 3 years after
final decommissioning is
completed.
If amortization reserve funds
related to licensed projects
are maintained, retain until
the Commission makes a final
determination of the
disposition of amortization
reserves.
(a) Statements of periodic deposits Retain records for the most
with fund administrators or recent 3 years.
trustees.
(b) Statements of periodic Retain records for the most
withdrawals from fund. recent 3 years.
(c) Statements prepared by fund Retain records until the fund
administrator or trustees of fund is dissolved or terminated.
activity including:
(1) Beginning of the year
balance of fund;
(2) Deposits with the fund;
(3) Acquisition of investments
held by the fund;
(4) Disposition of investments
held by the fund;
(5) Disbursements from the
fund, including party to whom
disbursement was made;
(6) End of year balance of
fund.36. Records of deposits with banks and
others:
(a) Statements from depositories Destroy at option after
showing the details of funds completion of audit by
received, disbursed, transferred, independent accountants.
and balances on deposit.
(b) Check stubs, registers, or 3 years.
other records of checks issued.
Miscellaneous37. [Reserved]38. Statistics: Financial, operating 5 years.
and statistical reports used for
internal administrative or operating
purposes.39. Budgets and other forecasts 3 years.
(prepared for internal administrative
or operating purposes) of estimated
future income, receipts and
expenditures in connection with
financing, construction and
operations, including acquisitions and
disposals of properties or investments.40. Records of predecessor companies... Retain consistent with the
requirements for the same
types of records of the
utility.41. Reports to Federal and State 5 years.
regulatory commissions including
annual financial, operating and
statistical reports.42. Advertising: Copies of 2 years.
advertisements by or for the company
on behalf of itself or any associate
company in newspapers, magazines, and
other publications, including costs
and other records relevant thereto
(excluding advertising of appliances,
employment opportunities, routine
notices, and invitations for bids all
of which may be destroyed at option).------------------------------------------------------------------------ [Order 617, 65 FR 48156, Aug. 7, 2000; 65 FR 50638, Aug. 21, 2000]
SUBCHAPTER D_APPROVED FORMS, FEDERAL POWER ACT AND PUBLIC UTILITY
REGULATORY POLICIES ACT OF 1978