Financial Services Manual (FIN)

FIN 103 Table

Retention Periods for Financial Records

Internal and external billing computations, receipt acknowledgments, and other documents of servicing departments substantiating interdepartmental charges should be retained for five years or through award period. Failure to adhere to this policy could result in cost disallowances to ASU and possible charge-backs of previous billings to departments.

Documentation of purchases made with an ASU Purchasing Card, including itemized cash register receipts and other point of sale documents that specify what was purchased, should be retained for five years or through award period. All documentation for Purchasing Card transactions is maintained in the department making the purchase. The documentation must be available for review/audit for five years.

Cash receipts details and cash register tapes should be retained for five years.

All other financial records used for monthly reconciliation should be retained for three years.

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