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) Title, franchises, and 6 years after final non-
licenses: Copies of formal orders appealable order.
of regulatory commissions served
upon the company.
(1) Certificates of Life of corporation.
incorporation, or equivalent
agreements and amendments
thereto.
(2) Deeds, leases and other 6 years after property or
title papers (including investment is disposed of
abstracts of title and unless delivered to
supporting data), and transferee.
contracts and agreements
related to the acquisition or
disposition of property or
investments.3. Contracts and agreements: Contracts,
including amendments and agreements
(except contracts provided for
elsewhere):
(a) Service contracts, such as for All contracts, related
management, consulting, memoranda, and revisions
accounting, legal, financial or should be retained for 4 years
engineering services. after expiration or until the
conclusion of any contract
disputes pertaining to such
contracts, whichever is later.
(b) Memoranda essential to clarify For same period as contract to
or explain provisions of contracts which they relate.
and agreements.
(c) 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.
(d) Contracts and other agreements All contracts, related
relating to services performed in memoranda, and revisions
connection with construction of should be retained for 4 years
property (including contracts for after expiration or until the
the construction of property by conclusion of any contract
others for the company and for disputes or governmental
supervision and engineering proceedings pertaining to such
relating to construction work). contracts, whichever is later.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
company (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 property accounts. 25 years. See Sec. Sec.
125.2(g) and 225.2(g) of this
chapter for public utilities
and licensees and natural gas
companies.
(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. Sec.
registers or similar records when used 125.2(g) and 225.2(g) of this
as a source document. chapter for public utilities
and licensees and natural gas
companies.11. Vouchers:
(a) Paid and canceled vouchers (one 5 years. See Sec. Sec.
copy-analysis sheets showing 125.2(g) and 225.2(g) of this
detailed distribution of charges chapter for public utilities
on individual vouchers and other and licensees and natural gas
supporting papers. companies.
(b) Original bills and invoices for 5 years. See Sec. Sec.
materials, services, etc., paid by 125.2(g) and 225.2(g) of this
vouchers. chapter for public utilities
and licensees and natural gas
companies.
(c) Paid checks and receipts for 5 years.
payments of specific vouchers.
(d) Authorization for the payment 5 years. See Sec. Sec.
of specific vouchers. 125.2(g) and 225.2(g) of this
chapter for public utilities
and licensees and natural gas
companies.
(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.
(g) Purchases and stores records 5 years.
related to disbursement vouchers.------------------------------------------------------------------------
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. Sec.
from insurance companies in 125.2(g) and 225.2(g) of this
connection with losses and of chapter for public utilities
claims against insurance and licensees and natural gas
companies, including reports of companies.
losses, and supporting papers.
(c) Records of self-insurance
against:
(1) losses from fire and 6 years after date of last
casualty,. accounting entry with respect
thereto.
(2) damage to property of 6 years after date of last
others, and. accounting entry with respect
thereto.
(3) personal injuries.......... 6 years after date of last
accounting entry with respect
thereto.
(d) Inspectors' reports and reports Destroy when superseded.
of condition of property.------------------------------------------------------------------------
Maintenance------------------------------------------------------------------------13. Maintenance project and work
orders:
(a) Authorizations for expenditures 5 years.
for maintenance work to be covered
by project or work orders,
including memoranda showing the
estimates of costs to be incurred.
(b) Project or work order sheets to 5 years.
which are posted in detail the
entries for labor, material, and
other charges in connection with
maintenance, and other work
pertaining to company operations.
(c) Summaries of expenditures on 5 years.
maintenance and job orders and
clearances to operating other
accounts (exclusive of property
accounts).rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
Property, Depreciation and Investments------------------------------------------------------------------------14. Property records, excluding
documents included in Item 2(a)(2):
(a) Ledgers of property accounts 25 years. See Sec. Sec.
including land and other detailed 125.2(g) and 225.2(g) of this
ledgers showing the cost of chapter for public utilities
property by classes. and licensees and natural gas
companies.
(b) Continuing property inventory 25 years. See Sec. Sec.
ledger, book or card records 125.2(g) and 225.2(g) of this
showing description, location, chapter for public utilities
quantities, cost, etc., of and licensees and natural gas
physical units (or items) of companies.
property owned.
(c) Operating equipment records.... 3 years after disposition,
termination of lease, or write-
off of property or investment.
(d) Office furniture and equipment 3 years after disposition,
records. termination of lease or write-
off of property or investment.
(e) Automobiles, other vehicles and 3 years after disposition,
related garage equipment records. termination of lease or write-
off of property or investment.
(f) Aircraft and airport equipment 3 years after disposition,
records. termination of lease or write-
off of property or investment.
(g) Other property records not 3 years after disposition,
defined elsewhere. termination of lease or write-
off of property or investment.15. Construction work in progress
ledgers, project or work orders, and
supplemental records:
(a) Construction work in progress 5 years after clearance to
ledgers. property account, provided
continuing inventory records
are maintained; otherwise 5
years after property is
retired.
(b) Project or work orders sheets 5 years after clearance to
to which are posted in summary property account, provided
form or in detail the entries for continuing inventory records
labor, materials, and other are maintained; otherwise 5
charges for property additions and years after property is
the entries closing the project or retired.
work orders to property records at
completion.
(c) Authorizations for expenditures 5 years after clearance to
for additions to property, property account.
including memoranda showing the
detailed estimates of cost, and
the bases therefore (including
original and revised or subsequent
authorizations).
(d) Requisitions and registers of 5 years after clearance to
authorizations for property property account.
expenditures.
(e) Completion or performance 5 years after clearance to
reports showing comparison between property account.
authorized estimates and actual
expenditures for property
additions.
(f) Analysis or cost reports 5 years after clearance to
showing quantities of materials property account.
used, unit costs, number of man-
hours etc., in connection with
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.16. Retirement work in progress
ledgers, project or work orders, and
supplemental records:
(a) Project or work order sheets to 5 years after the property is
which are posted the entries for retired.
removal costs, materials
recovered, and credits to property
accounts for cost of property
retirement.
(b) Authorizations for retirement 5 years after the property is
of property, including memoranda retired.
showing the basis for
determination to be retired and
estimates of salvage and removal
costs.
(c) Registers of retirement work... 5 years.17. Summary sheets, distribution 5 years.
sheets, reports, statements, and
papers directly supporting debits and
credits to property accounts not
covered by construction or retirement
project or work orders and their
supporting records.18. 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.19. Production maps, geological maps, 6 years after completion of
reproductions, including aerial project or work order.
photographs, showing the location of
all facilities the subject matter of
which falls within the project or work
orders of the company.20. Engineering records, drawings, 6 years after completion of
supporting data to include diagrams, project or work order.
profiles, photographs, field-survey
notes, plot plans, detail drawings,
and records of engineering studies
that are part of or performed by the
company within the project or work
order system.21. Records of building space occupied 6 years.
by various departments of the company.22. Contracts relating to property:
(a) Contracts relating to 6 years after property is
acquisition or sale of property. retired or sold
(b) Contracts and other agreements 6 years after property is
relating to services performed in retired or sold.
connection with construction of
property (including contracts for
the construction of property by
others for the company and for
supervision and engineering
relating to construction work).23. Records pertaining to 6 years.
reclassification of property 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
property and amortization of
intangible property and supporting
computation of expense:
(a) Detailed records or analysis 3 years after retirement or
sheets segregating the accumulated disposition of property
depreciation according to the
classification of property.
(b) Records reflecting the service 3 years after retirement or
life of property and the disposition of property
percentage of salvage and cost of
removal for property retired from
each account for depreciable
company property.25. Investment records:
(a) Records of investment in 3 years after disposition of
associate companies. investment.
(b) Records of other investments, 3 years after disposition of
including temporary investments of investment.
cash.------------------------------------------------------------------------
Purchase and Stores------------------------------------------------------------------------26. Procurement:
(a) Agreements entered into for the
acquisition of goods or the
performance of services. Includes
all forms of agreements 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. Sec.
relating to property 125.2(g) and 225.2(g) of this
construction. chapter for public utilities
and licensees and natural gas
companies.
(2) For other goods or services 6 years.
(b) Supporting documents including 6 years. See Sec. Sec.
accepted and unaccepted bids or 125.2(g) and 225.2(g) of this
proposals (summaries of unaccepted chapter for public utilities
bids or proposals may be kept in and licensees and natural gas
lieu of originals) evidencing all companies.
relevant elements of the
procurement.27. Material ledgers: Ledger sheets of 6 years after the date the
materials and supplies received, records/ledgers were created.
issued, and on hand.28. Materials and supplies received and 6 years. See Sec. Sec.
issued: Records showing the detailed 125.2(g) and 225.2(g) of this
distribution of materials and supplies chapter for public utilities
issued during accounting periods. and licensees and natural gas
companies).------------------------------------------------------------------------
Revenue Accounting------------------------------------------------------------------------29. Miscellaneous billing data: Billing 5 years.
department's copies of contracts with
customers (other than contracts in
general files).30. Revenue summaries: Summaries of 5 years.
monthly revenues according to classes
of service. Including summaries of
forfeited discounts and penalties.------------------------------------------------------------------------
Tax------------------------------------------------------------------------31. 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 Item 11 for vouchers
evidencing disbursements:
(1) Income tax returns......... 2 years after final tax
liability is determined.
(2) Agreements between and 2 years after final tax
schedule of allocation by liability is determined.
associate companies of
consolidated Federal income
taxes.
(b) Other taxes, including State or
local property or income taxes.
(1) Property tax returns....... 2 years after final tax
liability is determined.
(2) Sales and other use taxes.. 2 years.
(3) Other Taxes................ 2 years after final tax
liability is determined.
(c) Filings with taxing authorities 5 years after discontinuance of
to qualify employee benefit plans. plan.
(d) Information returns and reports 3 years after final tax
to taxing authorities. liability is determined.------------------------------------------------------------------------
Treasury------------------------------------------------------------------------32. Statements of funds and deposits:
(a) Summaries and periodic Destroy at option after
statements of cash balances on completion of audit by
hand and with depositories for independent accountants.
company or associate.
(b) Requisitions and receipts for Destroy at option after funds
funds furnished associates and have been returned or
others. accounted for.
(c) Statements of periodic deposits Retain records for the most
with external fund administrators recent 3 years.
or trustees.
(d) Statements of periodic Retain records for the most
withdrawals from external fund. recent 3 years.33. 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, bank
reconcilement papers and
statements of interest credits.
(b) Check stubs, registers, or 6 years.
other records of checks issued.------------------------------------------------------------------------
Payroll Records------------------------------------------------------------------------34. Payroll records:
(a) Payroll sheets or registers of 6 years.
payments of salaries and wages,
pensions and annuities paid by
company or by contractors of its
account.
(b) Records showing the 6 years.
distribution of salaries and wages
paid for each payroll period and
summaries or recapitulations of
such distribution.------------------------------------------------------------------------
Miscellaneous------------------------------------------------------------------------35. Financial, operating and 5 years.
statistical annual reports regularly
prepared in the course of business for
internal administrative or operating
purposes.36. 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.37. Periodic or special reports filed
by the company on its own behalf with
the Commission or with any other
Federal or State rate-regulatory
agency, including exhibits or
amendments to such reports:
(a) Reports to Federal and State 5 years.
regulatory commissions including
annual financial, operating and
statistical reports.
(b) Monthly and quarterly reports 5 years.
of operating revenues, expenses,
and statistics.38. 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).------------------------------------------------------------------------