Or. Admin. R. 166-475-0040 - Fiscal - Accounts Records
(1)Annual Fiscal Reports Records
document annual fiscal year-end status of accounts and is used to provide the
office with summary information relating to its programs which may be used for
planning or review. Records include Period 14 reconciliation reports; annual
operating statements; schedules of rates; and related correspondence.
(Retention: 10 years, destroy)
(2)Building and Equipment Reserve
Schedules Records document individual account summary and to show what
the balance should be, as well as the amount of current year entries needed to
bring the account up to that balance. The series also serves as backup to the
general ledger entries. Information may include building or equipment value,
required reserve, actual balance, deficiency, and amount to transfer in the
current fiscal year. (Retention: 6 years, destroy)
(3) Certificates of Participation
Records document the administration of Certificates of Participation
(COP's) primarily sold to finance institutional equipment, software, hardware,
and consultants' time. The series may also be used to split COP debt service
amongst the institutions and make entries charging them for COP related debt
service. Records may include but are not limited to Certificates of
Participation, COP budget development and cash draw down records, and related
executive and administrative correspondence. (Retention:
(a) Permanent, executive correspondence
(b) 4 years after COP maturity, all
other records, destroy)
(4)Chart Element Reports Records
document every fiscal FOAPAL element used by the institution which include
Index, Fund, Organization, Account, Program, Activity and Location Codes.
Records consist of reports generated on a particular FOAPAL element which
include the element; a brief descriptive title; and effective, termination, and
next change dates. (Retention: Until superseded or obsolete,
destroy)
(5)Chart Element
Justification Records Records document fiscal chart of accounts elements
and an office's request to establish a new index or FOAPAL element, change an
existing element, or terminate an existing one. Records consist of request
forms which include a description of the request, the proposed FOAPAL and index
elements, effective date, and signatures of requesters and authorizing
officials. (Retention: Permanent)
(6)Closing of the Books Records
Records document the resolution and reconciliation of accounts monitored by the
institution, the OUS Budget and Fiscal Policies Office, or Controller's Office
at the end of the fiscal year. Records include reconciliation statements
provided by each institution to OUS Budgets and Fiscal Policies or the OUS
Controller's Office concerning discrepant accounts for which they are
responsible and related documentation and correspondence.
(Retention: 6 years, destroy)
(7) Development and Endowment
Management Fee Records Records document the revenue earned quarterly on
gift accounts and fees charged by the institution's development office.
Information includes dates; gift account amounts and identification numbers;
earnings; department or account responsible for payment; and fee amount.
(Retention: 6 years, destroy)
(8)General Ledger Statements
Records document a complete monthly record of the final posting of all
university financial transactions, listed by account number. It is used to
prepare periodic financial statements. Records contain: the program name;
account number; posting date; debit and credit amounts; new balance; and
related information. This is a closed series that was discontinued when the
institution adopted the Banner Financial Information System (FIS).
(Retention:
(a) 15 years for
List 13, destroy
(b) 5 years for
Lists 1-12, destroy)
(9)Miscellaneous Accounting Reports
Records document the production of various accounting reports made by
individual offices or departments on a daily, monthly, quarterly, or annual
basis. These reports provide summary information relating to the department and
its programs, and may be used for planning or review. Reports include operating
statements, year-end projections, reconciliations, and expenditures by
facilities, accumulated hours and dollars by employee, summaries of assets and
liabilities, sales, cost accounting, and income. This series does not include
the year-end Closing of the Books Reports. Records may include but are not
limited to working papers; drafts; final reports; and related documentation and
correspondence. (Retention:
(a)
5 years for annual reports, destroy
(b) 1 year for daily, monthly, and quarterly
reports and working papers, destroy)
(10)Operating and General Ledger
Reconciliation Records Records document monthly reconciliations with the
operating ledger or general ledger. Records consist of working papers and
monthly reconciliation reports. (Retention: 6 years,
destroy)
Notes
Stat. Auth.: ORS 192 & 357
Stats. Implemented: ORS 192.005-192.170 & 357.805-357.895
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.