46 Pa. Code § 15.57

Current through Register Vol. 54, No. 50, December 14, 2024

Section 15.57 - General financial and purchasing records

General financial and purchasing records shall be maintained as follows:

(1)Account distribution summaries.

(i)Weekly/monthly. Retain these records 3 years.

(ii)Year-end. Retain these records 7 years.

(2)Accounts payable files and ledgers. Retain these records 7 years.

(3)Accounts receivable files and ledgers. Retain these records 7 years.

(4)Annual budget reports, submitted to the Department of Community Affairs. Retain these records 5 years.

(5)Annual budgets and related records. Retain one copy of the annual budget permanently. Retain duplicate copies as long as of administrative value. Retain other related papers 7 years.

(6) Audit reports including annual audit and financial reports submitted to the Department of Community Affairs and other audit reports submitted to the municipality by an independent, appointed auditor. Retain these records permanently.

(7)Audit workpapers. Retain current plus 3 prior audit cycles.

(8)Balance sheets. Retain these records 7 years.

(9)Bank statements and reconciliations. Retain these records 3 years.

(10)Bills . Retain these records 7 years.

(11)Cancelled checks. Retain these records 7 years.

(12)Check registers. Retain these records 7 years.

(13)Daily cash records. Retain these records 3 years.

(14)Deposit slips. Retain these records 3 years.

(15)Depreciation schedules . Retain these records for the life of the equipment plus 3 years.

(16)Expense reports-employe . Retain these records 7 years.

(17)Financial statements.

(i)Periodic. Retain these records until final completion of audit.

(ii)Certified. Retain these records permanently.

(18)General ledger analyses . Retain these records 7 years.

(19)Investment records. Retain these records 6 years after cancellation.

(20)Invoices. Retain these records 7 years.

(21)Purchase order files. Retain these records 7 years.

(22)Supply requisitions. Retain these records 2 years.

(23)Surplus property records.

(i)Logs. Retain these records until superseded or obsolete.

(ii)Sale files. Retain these records 3 years.

(24)Utility and paid service receipts. Retain these records 7 years.

(25)Vendor files. Retain these records until superseded or obsolete.

(26)Voucher files. Retain these records 7 years.

(27)Warrants. Retain these records 7 years.

46 Pa. Code § 15.57

The provisions of this § 15.57 adopted February 18, 1994, effective 2/19/1994, 24 Pa.B. 993.

This section cited in 46 Pa. Code § 15.51 (relating to general provisions); and 46 Pa. Code § 15.52 (relating to applicability).