Page images
PDF
EPUB

SCHEDULE OF RECORDS AND PERIODS OF RETENTION

Description

Retention period

CORPORATE AND GENERAL

1. Capital stock records: (a) Capital stock ledgers or other records showing the same 6 years after the stockholder's account is information.

closed. (b) Capital stock subscription accounts, warrants, requests 2 years after settlement.

for allotments and other essential papers related thereto. (c) Stubs or similar records of capital stock certificate issu- 6 years after cancellation of certificate. If ance where not used as capital stock ledger record.

this record serves the purpose of a capital stock ledger, subsection 1(a) is

applicable. (d) Stock transfer registers or sheets or similar records ...... years after last entry on page or sheet of

record. (e) Papers pertaining to or supporting transfers of capital

stock: (1) Papers that are recorded officially in a court or in the Destroy at option or return to stockholder.

office of some other public recording authority; and other papers presented by any bank or trust company requesting transfers in its capacity as a fiduciary and

miscellaneous papers. (f) Canceled capital stock certificates where not used as cap- 6 years after cancellation of certificate. If ital stock ledger records.

this record serves the purpose of a capital stock ledger, subsection 1(a) is

applicable. (8) Change of address notices of stockholders...

Destroy at option after changes are record

ed. (h) Bonds of indemnity and affidavits covering issuances of 6 years after expiration of bonds.

stock certificates to replace lost certificates. (i) Letters, notices, reports, statements and other communi

cations distributed to all stockholders of a particular

class: (1) Formal communications addressed to all stockholders Life of corporation.

of a particular class, including annual reports to stockholders, notices of annual and special meetings of stockholders, and other notices, reports, letters or

statements relating to corporate or stockholder actions. (2) Interim reports of operations, speeches of corporate of 6 years after the date thereof.

ficers, notices of change of corporate address or tele

phone numbers, etc. (j) Dividend registers, lists or similar records..

6 years. (k) Paid dividend checks.......

Do. (1) Third party dividend orders.

6 years after recision order. 2. Proxies and voting lists: (a) Proxies of holders of voting securities........

3 years. (b) Lists of holders of voting securities represented at meet- 1 year.

ings. 3. Reports to stockholders: (a) Annual reports or statements to stockholders....

Life of corporation. (b) Written acknowledgements of receipts of reports to Destroy at nption.

stockholders and written requests for copies of such re

ports. 4. Debt security records: 2 (a) Registered bond and debenture ledgers.

3 years after redemption. (b) Bond and debenture subscription accounts, warrants, 3 years after settlement.

subscription notices, requests for allotment and essential

papers related thereto. (c) Stubs or similar records of bond and debenture certifi- 3 years after redemption.

cates issued. (d) Papers pertaining to or supporting transfers of regis

tered bonds and debentures: See' footnotes at end of table.

SCHEDULE OF RECORDS AND PERIODS OF RETENTION-Continued

Description

Retention period

CORPORATE AND GENERAL-continued

(1) Papers that are recorded officially in a court or in the Destroy at option or return to holders of

office of some other public recording authority; and the bonds or debentures.
other papers presented by any bank or trust company
requesting transfers in its capacity as a fiduciary, plus

other miscellaneous papers.
(e) Records of bond and debenture interest coupons paid Destroy aí option.?

and unpaid. (1) Canceled bonds and debentures and paid interest cou

Do.: pons pertaining thereto. (g) Trust indentures, loan agreements or other contracts or 6 years after redemption.

agreements securing debt securities issued. (If such papers or documents are included among the records covered by Subsection 5 of the Regulation, this instruc

tion will not apply.) (h) Copies of reports, statements, letters or memoranda 6 years after redemption. (Destroy at

filed with trustee(s) pursuant to provisions of trust in option provided that the trustee(s) denture or other security instrument or agreement se under suc.) indenture or security incuring debt securities issued.

strument is a National Bank, a member of the Federal Reserve System or a subsidiary of any such National Bank or Federal Reserve System member bank; and provided further that the trustee(s) has certified to the company that copies of all such documents will be available in the offices of the trustee(s) for inspection at any time prior to redemption by holders of debt securities to which such documents relate and for inspection by any Federal or State regulatory authority prior to redemption and for an additional period of 6

years after redemption.) (i) Paid or canceled debt securities evidencing temporary 3 years after payment or cancellation, proborrowings.

vided other records of issuance and payment or cancellation are main

tained. (j) Paid interest checks......

6 years. 5. Filings with and authorizations by regulatory agencies: (a) Authorizations from regulatory bodies for issuance of se

curities: (1) Copies of applications to regulatory bodies for authori- 25 years or until all securities covered are

ty to issue stocks, bonds, and other securities, includ retired, whichever is shorter.

ing copies of exhibits in support of such applications. (2) Official copies of opinions and orders of regulatory Until securities covered are retired.

bodies granting authority to issue securities.
(3) Reports filed with regulatory bodies in compliance Do.

with authorizations to issue securities. (Reports of
sales of securities of application of proceeds, etc.) File

copies of such reports and supporting papers.
(b) Copies of registration statements and other data filed

with the Securities and Exchange Commission: (1) In connection with offerings of securities for sale to 25 years or until all securities covered are

the public, or the listing of securities on exchanges, in retired, whichever is shorter.

cluding supporting papers. (2) Copies of periodic reports and supporting papers filed 25 years.

in compliance with either the Securities Act of 1933 or

the Securities Exchange Act of 1934. 6. Organizational documents: (a) Minute books of stockholders', directors', and directors' Life of corporation.

committee meetings. (b) Titles, franchises, and licenses: (1) Deeds and other title papers (including abstracts of 6 years after property is disposed of unless title and supporting data).

surrendered to transferee. (2) Corporate charters or certificates of incorporation......... Life of corporation. (3) Franchises and certificates authorizing operations as a Do.

public utility. See footnotes at end of table.

SCHEDULE OF RECORDS AND PERIODS OF RETENTION-Continued

Description

Retention period

CORPORATE AND GENERAL- continued

(4) Licenses (including amendments thereof) granted by 25 years after plant is retired or xpiration

Federal or State authorities for construction and oper of license, whichever is shorter.

ation of utility plant. (5) Copies of formal orders of regulatory commissions Life of corporation.

served upon the utility. (c) Permits: (1) Permits and granted applications for the use of facili- 6 years after expiration or cancellation.

ties of others. (2) Copies of permits and applications granted others for Do.

the use of the utility's facilities. (3) Applications for the use of facilities not granted and Destroy at option.

copies of such applications. (4) Permits of a temporary nature from municipalities or

Do. others to perform specific work, such as permits to

open streets. (d) Organization diagrams and charts.

Destroy at option after expiration or su

persession. 7. Contracts and agreements (except contracts provided for

elsewhere): (a) Service contracts, such as for management, accounting 6 years after expiration or cancellation. See and financial services.

$ 225.2(j). (b) Contracts with other utilities or other persons for the 6 years after expiration or cancellation.

purchase, sale or interchange of product, or for advance

payments for gas. (c) Leases pertaining to rentals of property to or from Do.

others. (d) Contracts and agreements with individual employees, Do.

labor unions, company unions, and other employee organizations relative to wage rates, hours, and similar mat

ters. (e) Contracts, agreements, and/or other essential records

Do. necessary to the carrying out of the functions of an employee's stock purchase or other type of employees'

saving plan. (f) Contracts or agreements for the acquisition or disposal 25 years after disposal.

of investments (excluding temporary cash investments). (g) Memoranda essential to clarifying or explaining provi- For the same periods as contracts to which sions of contracts listed above.

they relate. (h) Card or book records of contracts, leases, and agree

Do. ments made, showing dates of expirations and of renewals, memoranda of receipts, and payments under such

contracts, etc.. 8. Accountants' and auditors' reports: (a) Reports of examinations and audits by accountants and 7 years after date of report or Commission

auditors not in the regular employ of the utility (such as audit, whichever comes last. reports of public accounting firms and regulatory com

mission accountants). (b) Internal audit reports and work papers

Do.

AUTOMATIC DATA PROCESSING
9. Automatic data processing records. (Retain original source

data used as input for data processing and data processing
report printouts for the applicable periods prescribed else-
where in the schedule.):
(a) Punched cards, tapes or similar media used as intermedi- Destroy at option.

ate records or steps in data processing for assembling
data to be posted to the records of the company or used

in a report or study. (b) Program documentation and revisions thereto ....... Retain as long as it represents an active

viable program or for periods prescribed for related output data, whichever is shorter.

GENERAL ACCOUNTING RECORDS 10. General and subsidiary ledgers: (a)(1) General ledgers.. See footnotes at end of table.

50 years.

[blocks in formation]

GENERAL ACCOUNTING RECORDS-continued (2) Ledgers subsidiary or auxiliary to general ledgers

Do. except ledgers provided for elsewhere. (b)(1) Indexes to general ledgers.

Do. (2) Indexes to subsidiary ledgers except ledgers provided Do.

for elsewhere. (c) Trial balance sheets of general and subsidiary ledgers ...... 2 years. 11. Journals: General and subsidiary

50 years. 12. Journal vouchers and journal entries including supporting

detail: (a) Journal vouchers and journal entries......

Do. (b) Analyses, summarizations, distributions, and other com

putations which support Journal vouchers and journal

entries: (1) Charging plant accounts............

6 years. See Section 225.2(1). (2) Charging all other accounts

6 years. (c) Schedules for recurring journal entries

Destroy when superseded. (d) Lists of standard journal entry numbers

Do. 13. Cash books: (a) General and subsidiary or auxiliary books.

10 years after close of fiscal year. See Sub

section 12(a). 14. Voucher registers: (a) Voucher registers or similar records when used as a 6 years. See Section 225.2(j).

source document. 15. Vouchers: (a) Paid and canceled vouchers (1 copy-analysis sheets Do.

showing detailed distribution of charges on individual

vouchers and other supporting papers). (b) Original bills and invoices for materials, services, etc., Do.

paid by vouchers. (c) Paid checks and receipts for payments by voucher or 6 years.

otherwise. (d) Authorization for the payment of specific vouchers .......... 6 years. See section 225.2(j). (e) Lists of unaudited bills (accounts payable), lists of Destroy at option.

vouchers transmitted and memoranda regarding

changes in unaudited bills. (f) Voucher indexes.....

Do. 16. Accounts receivable (see Subsections 53 and 54 for ac

counts with customers for utility service and for merchan

dise sales): (a) Records of accounts receivable pertaining to sales of util- 3 years after settlement.

ity plant. (b) Record or register of accounts receivable and indexes Do.

thereto and summaries of distribution. (c) Accounting department copies of invoices issued and sup Do.

porting papers which do not accompany the original invoices and authorizations for charges including support

ing papers. (d) Periodic statements of unsettled accounts, except trial Destroy at option.

balances. (e) Schedule of invoices to be issued

Do. 17. Records of securities owned: (a) Records of securities owned, in treasury, or with custo- 6 years after disposal of the investment.

dians (excluding temporary investments of cash). 18. Payroll records: (a) Payroll sheets or registers of payments of salaries and 6 years.

wages. (b) Records showing the distribution of salaries and wages 6 years. See subsection 12(b).

paid and summaries or recapitulation statements of such

distribution. (c) Time tickets, time sheets, time books, time cards, work

men's reports and other records showing hours worked,

description of work and accounts to be charged: (1) When used as a basis for payment of salaries and Destroy at option if the basic information wages supporting records described in subsection 18(a). contained therein is transferred to

other records. (2) When used solely as basis for supporting records de. Destroy at option.

scribed in subsection 18(b). (d) Paid checks, receipts for wages paid in cash and other 3 years.

evidences of payments for services rendered by employ

ees. See footnotes at end of table.

SCHEDULE OF RECORDS AND PERIODS OF RETENTION-Continued
Description

Retention period

GENERAL ACCOUNTING RECORDS-continued (e) Applications and authorizations for changes in wage and Do.

salary rates, summaries and reports of changes in pay

rolls, and similar records. (1) Applications for payroll changes not authorized... ..... Destroy at option. (g) Payroll authorizations and records of authorized posi- Destroy at option. tions.

3 years. (h) Records of deductions from payrolls........

Destroy at option. (1) Comparative or analytical statements of payrolls

Do. (j) Employee's individual earnings record.......

6 years after termination of employment. 19. Assignments, attachments, and garnishments: (a) Record of assignments, attachments, and garnishments Destroy at option.

of employees' salaries, including files of notices, etc.,

pertaining thereto. (b) Minors' salary releases ..

Do.

INSURANCE

20. Insurance records: (a) Records of insurance policies in force, showing coverage, Destroy at option after expiration of such premiums paid and expiration dates.

policies. (b) Insurance policies........

Do. (c) Records of amounts recovered from insurance companies 6 years. See section 225.2(j).

in connection with losses and of claims against insurance companies, including reports of losses and supporting

papers. (d) Inspectors' reports and records of condition of property.. Destroy when superseded. (e) Insurance maps of property and structures erected Do.

thereon. (f) Records and statements relating to insurance require- Destroy at option.

ments. 21. Injuries and damages: (a) Claim registers, card or book indexes and similar records 2 years after settlement.

in connection with claims presented against the company in connection with accidents resulting in damage to

the property of others or personal injuries. (b) Papers, reports, statements of witnesses, etc., necessary Do.

to the support or rejection of individual claims against

the company. (c) Other papers, reports or statements, pertaining to acci- Destroy at option.

dents, resulting in property damages or personal inju

ries, not necessary to the support or rejection of claims. (d) Detailed schedules or spread sheets of payments to 2 years after settlement. others for personal injuries or for property damages.

OPERATIONS AND MAINTENANCE 22. Production-Gas:

(a) Boiler and gas machine logs, including supporting data.... 3 years. (b) Gas generation and output logs with supporting data ....... 6 years. (c) Temperature and atmospheric pressure logs..........

3 years. (d) Coal, coke and oil reports ........

Do. (e) Residual reports......

Do. (f) Recording instrument charts such as pressure (static 1 year, except where the basic chart infor

and/or differential), temperature specific gravity, heat mation is transferred to another ing value, etc.

record, the charts need only be retained 6 months provided the record containing the basic data is retained

one year (g) Test of heating value at stations and outlying points ........ 6 years. (h) Records of gas produced, gas purchased, gas sent out

Do. and holder stock. (i) Analysis of gas produced and purchased including B.t.u.

Do. and sulphur content. (j) Records of general inspection and operating tests

3 years. (k) Well records, including clearing, bailing, shooting, etc., 1 year after field or relevant production

records; rock pressure; open flow; production, gas ana area abandoned.

lysts' reports, etc. (1) Gasoline production...

6 years. (m) Gas production by counties.

Destroy at option. See footnotes at end of table.

343

« PreviousContinue »