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RAHA

Records Retention Policy


RAHA takes seriously it obligations to preserve information relating to litigation, audits and investigations.

The information listed in the retention schedule below is intended as a guideline and may not contain all the records RAHA may be required to keep in the future.  Questions regarding the retention of documents not listed on this chart should be directed to the RAHA President.

From time to time, the RAHA President may issue a notice known as a “legal hold” suspending the destruction of records due to pending, threatened or otherwise reasonably foreseeable litigation, audits, government investigations or similar proceedings.  No records specified in any legal hold may be destroyed, even if the scheduled destruction date has passed, until the legal hold is withdrawn in writing by the RAHA President.
File Category Item Retention Period
Corporate Records Bylaws and Articles of Incorporation Permanent
  Corporate Resolutions Permanent
  Board meeting agenda & minutes Permanent
Finance & Administration Financial Statements 7 years
  Tax Accountant notes 7 years
  Check register & check copies 7 years
  Bank deposits & statements 7 years
  Chart of accounts 7 years
  General ledgers & journals (bank reconciliations) 7 years
  Equipment files & maintenance records 7 years after disposition
  Contracts & agreements 7 years after all obligations end
  Correspondence – general 3 years
Insurance Records Policies – occurrence type Permanent
  Policies – claims-made type Permanent
  Accident reports 7 years
Tax IRS exemption determination & related correspondence Permanent
  IRS form 990s 7 years
Technology Software licenses & support agreements 7 years after all obligations end

  1. Electronic Documents and Records

Electronic documents will be retained as if they were documents.  Therefore, any electronic files that fall into one of the document types on the above schedule will be maintained for the appropriate amount of time.  If a user has sufficient reason to keep an email message, the message should be printed in hard copy and kept in the appropriate file or moved to an “archive” computer file folder.  Backup and recovery methods will be tested on a regular basis.

  1. Emergency Planning

The organization’s records will be stored in a safe, secure and accessible manner.  Documents and financial files that are essential to keeping the organization operating in an emergency will be duplicated or backed up at least every week (currently ours is backed up every night with an alternate backup kept off site) and maintained off-site.

  1. Document Destruction

The RAHA President is responsible for the ongoing process of identifying its records, which have met the required retention period, and overseeing their destruction.  Destruction of financial and personnel-related documents will be accomplished by shredding.

 

Document destruction will be suspended immediately, upon any indication of an official investigation or when a lawsuit is filed or appears imminent.  Destruction will be reinstated upon conclusion of the investigation.

  1. Compliance

Failure on the part of employees to follow this policy can result in possible civil and criminal sanctions against the organization and its employees and possible disciplinary action against responsible individuals.  The RAHA President will periodically review these procedures with legal counsel or the organization’s certified public accountant to ensure they are in compliance with new or revised regulations.