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Effective Documentation & Retention Guidelines for Student Affairs Purchases

Understand the importance of retaining buying-related documentation, timelines, and internal controls in student affairs. Learn about key guidelines and requirements for maintaining financial records, invoices, purchase orders, and more. Ensure compliance with retention guidelines set by University Archives.

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Effective Documentation & Retention Guidelines for Student Affairs Purchases

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  1. Student Affairs Buying 101 Buying 101 General Questions and Answers • Sales Tax Exclusion Forms • State Contracts • Purchase Orders Open at End of Fiscal Year • Don’t Spend Unused Budget Amount at End of Fiscal Year • PeopleSoft Security Students First 13-00

  2. Student Affairs Buying 101 Topic 13 Documentation & Retention Requirements Students First 13-01

  3. Student Affairs Buying 101 Documentation & Retention Requirements Topic Objective • Have a general understanding of the timelines required to retain buying-related documentation Students First 13-02

  4. Student Affairs Buying 101 Documentation & Retention Requirements Internal Controls Question #9: Does the college/office maintain supporting documentation for its financial transactions, in accordance with retention guidelines set forth by University Archives? Key Buying-Related Guidelines: (See Appendix R for Financial Records Guidelines) • Inter-Departmental Billing/100W, • Invoices, & Requisitions • IUC #: ACC1000 • Retention: retain 4 years • Disposition: destroy • Procurement Card Statements (Statements from bank) • IUC #: FIN8010 • Retention: retain 6 years • Disposition: destroy • Purchase Orders • IUC #: FIN8000 • Retention: retain 3 years • Disposition: destroy • Reconciliation of Department Records to General Ledger • IUC #: ACC3000 • Retention: retain 4 years • Disposition: destroy Students First 13-03

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