Records Management Program/Policy

Date Prepared:

Date Revised:

Prepared by:

Secretary/Records Manager

Approved by: on ______

MHA Executive Committee

Purpose

MHAs records must be maintained in order to comply with federal, state and local regulations. This includes the articles of incorporation, bylaws and minutes of meetings of the board of directors and board committees. In addition, other organization-related records must be retained for specified periods.

With respect to other records, there are basic principles to be achieved:

1. Documents should be retained as necessary to provide a record of significant events and the conclusion reached in a particular issue, consistent with the need to ensure that the costs associated with record retention in terms of space and maintenance are net disproportionate to the value of retaining the records.

2. Document files, both hard and electronic copy, should be reviewed periodically to ensure that only required documents are retained, and that unneeded superseded drafts are destroyed.

Policy Implementation

Goals can best be achieved through the disciplined implementation of this policy. Each segment of the organization is responsible for ensuring that suitable records are retained in accordance with this policy and are disposed of when no longer required. The following Records Retention Schedule for hard and electronic files provides general guidelines.

Each segment is responsible for retaining the official file for those issues within its areas of responsibility. Questions concerning the appropriate disposition of records not listed in the Records Retention Schedule or any questions about application of the policy in specific circumstances should be directed to the corporate secretary.

Any correspondence or records that are relevant or related to or involved in any currently pending or threatened litigation or in any proceeding before any regulatory agency should promptly be brought to the attention of the general counsel or secretary.

Records Retention Schedule

Category of Document / Retention Period / Location
Corporate Records:
Articles of Incorporation;
bylaws; minutes of meetings of
the board of directors and board
committees / Life of corporation / Fire King cabinet in office
Accounting Records:
General book of accounts / Life or corporation / Fire King cabinet in office
Accounts payable and receivable / Seven years / Fire King cabinet in office
Budgets / Four years / Fire King cabinet in office
Bank reconciliation and canceled checks / Seven years / Fire King cabinet in office
Depreciation records / Life of asset / Fire King cabinet in office
Tax returns / Life of corporation / Fire King cabinet in office
Year-end financial statements and audit reports / Life or corporation / Fire King cabinet in office
FICA and FUTA payroll records / Seven years / Fire King cabinet in office
Contracts and Agreements: / Completion/termination date of contract, plus six years / Fire King cabinet in office
Insurance Policies: / Life of corporation / Fire King cabinet in office
Leases and Deeds: / Completion date of lease or ownership and property plus ten years / Safety deposit box
Drafts of Any Documents: / Destroyed on execution of the final document except in special circumstances
Personnel Records: / Period of employment plus six years / File cabinet in Executive Director’s office
Applications for employment and resumes / One year
Annual Report:
Correspondence related to the foregoing should
be filed with the documents. / Life of corporation / Fire King cabinet in office