Financial Records Retention Schedule: Accounting, Finance and Payroll, University of Pennsylvania

UNIVERSITY OF PENNSYLVANIA
RECORDS RETENTION SCHEDULE

Effective January 2, 2001

Office of Audit & Compliance, Office of the General Counsel,
and the University Archives and Records Center

ACCOUNTING, FINANCE AND PAYROLL
Accounts payable and receivable records	7 years
Books of accounts	7 years
Banking records	7 years
Financial statements; annual reports to government agencies	permanent
Budgets	permanent
Payroll records	7 years
Employee benefit plans	1 year after term of plan
Records of property subject to gain or loss treatment	7 years after taxable disposition
Records supporting items of income, deductions and credits	7 years
Tax returns and supporting records	7 years
DEVELOPMENT