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Finance retention schedule

Version 6.0, adopted December 2021, expires end December 2023. Comprising: Audit (AUD), Finance (FIN) and Procurement (PROC). 


A pdf version of this retention schedule, including full version history, is held in the EDRM Retention Schedules folder.

See an explanation of the 6+ Rule and all other standard disposition codes.

Financial provision management

FIN 1.01: Maintaining financial ledgers

Disposition: ACTION+15

Example(s):

  • Revenue Financial Ledgers
  • Capital Financial Ledgers

Rationale: Business requirement

Location: EDRM, shared drives, finance management systems

FIN 1.02: Closing down financial ledgers

Disposition: 6+

Examples: None given

Rationale: Business requirement

Location: EDRM, shared drives, finance management systems

FIN 1.03: Managing and administering grant funding and claims administration (excluding ERDF and European grants)

Disposition: TERMS+6

Example(s):

  • Expenditure records
  • Reports to funding body

Rationale: Business requirement

Location: EDRM, shared drives, finance management systems

FIN 1.04: Managing and administering ERDF grant funding and claims administration

Disposition: CASE+6

Example(s):

  • Expenditure records
  • Reports to funding body
  • 2007-2013 programme: destroy on 31 Dec 2025
  • 2014-2020 programme: destroy on 31 Dec 2033

Rationale: European Union requirement

FIN 1.05: Managing and administering other European grant funding and claims administration

Disposition: TERMS+12

Example(s):

  • Expenditure records
  • Reports to funding body

Rationale: Business requirement

Location: EDRM, shared drives, finance management systems

FIN 1.06: Managing budgets, income, and expenditure

Disposition: 6+

Example(s):

  • Estimates
  • Costings
  • Income
  • Investments
  • Loans
  • Funding bids
  • Reporting
  • Reconciliations

Rationale: Local Government Act 2003

Location: EDRM, shared drives, finance management systems

FIN 1.07: Managing and administering re-charges

Disposition: 6+

Examples: none given

Rationale: Business requirement

Location: EDRM, shared drives, finance management systems

FIN 1.08: The process involved in managing debts owed to the authority

Disposition: CASE+6

Example(s):

  • Deposits Ledger
  • Debtor Accounts
  • Income posting slips and tabulations

Rationale: Business requirement

Location: EDRM, shared drives, finance management systems

Financial transaction management

FIN 2.01: Managing the authority's banking transactions (excluding full statements)

Disposition: 6+

Example(s):

  • Bank Reconciliations
  • Bank paying in books/slips
  • Records of cancelled cheques
  • Cheque books and counterfoils (always treat as current if uncashed)

Rationale: Business requirement

Card details written down prior to entry into a financial system should be disposed of after input

Location: EDRM, shared drives, finance management systems

FIN 2.02: Activities involved in the payment for goods and services by the authority. Includes expenses claims and honorariums.

Disposition: 6+

Example(s):

  • Credit notes
  • Creditor invoices
  • Delivery notes
  • Imprest documentation
  • BACS listings
  • Cheque list
  • Periodic payment records (rents)
  • Expense Claims
  • Invoices

Rationale: Business requirement

For financial records of the acquisition, leasing, ownership or disposal of property, see Property retention schedule

Location: EDRM, shared drives, finance management systems

FIN 2.03: Recording car mileage on leased vehicles

Disposition: 6+

Example(s):

  • Mileage forms

Rationale: Business requirement

Location: EDRM, shared drives, finance management systems

FIN 2.04: Managing the authority's bank statements

Disposition: ACTION+15

Example(s):

  • Bank statements

Rationale: Business requirement

Location: EDRM, shared drives, finance management systems

Taxation

FIN 3.01: Administering VAT payments and claims

Disposition: 6+

Examples: None given

Rationale: The Value Added Tax Act 1994 (Sch, 11, para 6)

HMRC internal guidance manual.

Location: EDRM, shared drives, finance management systems

FIN 3.02: Managing and administering the council tax

Disposition: 6+

Examples: None given

Rationale: Business requirement

Location: EDRM, shared drives, finance management systems

Accounts and statements

FIN 4.01: The summary management of corporate accounts

Disposition: Permanent. Offer to Derbyshire Record Office when no longer current

Example(s):

  • Abstract of accounts

Rationale: Business requirement

Location: EDRM, shared drives, finance management systems

FIN 4.02: Accounting and reporting

Disposition: 6+

Example(s):

Location: EDRM, shared drives, finance management systems

Pensions

FIN 5.01: Documents relating to cases of no further liability (NFL)

Disposition: DOB+100, ACTION+15

Examples:

  • cessation of linked pension or survivor pension
  • transfers out
  • compounded pensions (for example trivial communications)
  • death grant
  • refunds

Rationale: Business requirement: an obligation to respond to enquiries from solicitors, executors, scheme members and central government. Records must meet both criteria before disposal, i.e. the member's birth must be 100 years ago and the NFL date must be 15 years ago.

Location: Pension administration system (Altair)

FIN 5.02: Management of current preserved scheme members

Disposition: Retain while current, then see FIN 5.01

Example:

  • Preserved (deferred) scheme member files

Rationale: Business requirement

FIN 5.03: Number not used

Formerly: The process of managing pension increases

FIN 5.04: Pension case management reporting

Disposition: ACTION+15

Example(s):

  • Pension increase reports
  • Statistical data
  • Scheme valuation data
  • Annual allowance reports
  • Income report
  • Year-end reports produced internally
  • All other reports

Rationale: Business requirement

Location: Fund files

FIN 5.05: Managing local government pensions through significant local government reorganisation

Disposition: Permanent. Offer to Derbyshire Record Office when no longer current

Examples:

  • Agreements - records of pensions recharged to Derby City Council following 1997 reorganisation

Rationale: Business requirement

Location: Fund files and pension administration system (Altair)

FIN 5.06: number not uses

Formerly managing pension schemes of other organisations

FIN 5.07: Managing copies of members' Additional Voluntary Contributions (AVC) statements

Disposition: ACTION+25

Examples: Statements from AVC providers

Rationale: Business requirement. AVC benefits are made with pension payments and may be subject to enquiries years after payments have been made.

FIN 5.08: Management of current scheme members

Disposition: Retain while current, then see FIN 5.01

Example:

  • Active pension scheme member files

Rationale: Business requirement

Location: Pension administration system (Altair)

FIN 5.09: Management of survivor pension payments

Disposition: Retain while current, then see FIN 5.01

Example:

  • Files relating to survivors in receipt of pension payments

Rationale: Business requirement

Location: Pension administration system (Altair)

FIN 5.10: The management of Year-End and contribution returns and monthly submissions supplied by local government bodies

Disposition: ACTION+25

Examples: Year-end returns, monthly contribution returns and monthly data files from fund employers.

Rationale: Business requirement. Enquiries relating to scheme membership may require reference to data submitted and contribution payments made by the relevant employer.

Location: Fund files and pension administration system (Altair).

FIN 5.11: The appraisal of pension fund assets and liabilities

Disposition: Permanent. Offer to Derbyshire Record Office when no longer current.

Example:

  • Pension fund annual reports and actuarial reports

Rationale: Business requirement

Location: Fund files

FIN 5.12 Management of Pension Fund investments

Disposition: CASE+6 (closure point: full divestment)

Example: Files relating to the pension fund's investments portfolio

Rationale: Business requirement

Location: Fund files

Insuring against risk

FIN 6.01: Number not used

FIN 6.02: Number not used

FIN 6.03: Evidence of liability insurance status, where there is enduring potential for an injury claim

Disposition: ACTION+100

Example(s):

  • All Liability Insurance policies, schedules, certificates (including motor vehicle insurance)
  • 'To Whom' letters
  • Insurance contracts
  • Schedule of insurers and limits

Rationale: Business requirement

Employers Liability (Compulsory Insurance) Act 1969

Employers Liability (Compulsory Insurance Regulations 1998)

Location: EDRM, shared drives, finance management systems

FIN 6.04: Evidence of liability insurance status in relation to property

Disposition: TERMS+6

Example(s):

  • Property policies
  • Balance of risk policy and summary of cover

Rationale: Business requirement

Location: Pension administration system (UPM)

FIN 6.05: Number not used

FIN 6.06: Number not used

FIN 6.07: Evidence of liability insurance status, where there is low potential for an injury claim

Disposition: TERMS+6

Examples:

  • School Balance Of Risk policies / schedules
  • Accident policies / schedules
  • Travel policies / schedules

Schedule of DCC members insured/traveling

Schedule of officers insured/travelling

Rationale: Business requirement

Location: EDRM, shared drives, finance management systems

FIN 6.08: Number not used

FIN 6.09: Evidence of insurance status in relation to policies with a Claims-Made basis

Disposition: TERMS+6

Examples:

  • Policies and schedules for Fidelity Insurance
  • Medical Malpractice
  • Professional Indemnity
  • Officials Indemnity
  • Cyber Liability

Rationale: Business requirement, Limitation Act 1980

Location: EDRM, shared drives, finance management systems

Insurance claims administration

FIN 7.01: Routine administration of insurance claims (excluding cases relating to minors)

Disposition: CASE+6 (closure point: settlement/repudiation)

Example(s): Insurance claim files relating to:

  • Public Liability Insurance
  • Property damage
  • Employers liability
  • Motor liability
  • Motor vehicle own damage
  • School balance of risk
  • Own property damage
  • Travel
  • Fidelity guarantee
  • Cyber liability
  • Medical malpractice
  • Professional indemnity
  • Officials indemnity

Rationale: Limitation Act 1980

FIN 7.02: Number not used

FIN 7.03: Managing an insurance claims relating to minors

Disposition: DOB+25

Example(s):

  • Liability injury insurance claim files
  • Personal accident insurance claim files
  • School journey insurance claim files
  • Medical malpractice insurance claims

Rationale: Limitation Act 1980

FIN 7.04: Managing a subsidence insurance claim

Disposition: ACTION+50

Example(s):

  • Subsidence insurance claim files

Rationale: Business Requirement

FIN 7.05: The management of information in relation to a potential future claim by an individual, in relation to industrial disease

Disposition: DOB+100

Example(s):

  • Incident reports
  • Background information

Rationale: Business Requirement

CIPFA Guidance

FIN 7.06: Managing an industrial disease insurance claim

Disposition: CASE+6 (closure point: settlement/repudiation)

Example(s):

  • Employers and public liability insurance claim files relating to industrial diseases

Rationale: Business Requirement, CIPFA Guidance

FIN 7.07: Number not used

FIN 7.08: The maintaining of historical claims data

Disposition: Permanent. Offer to Derbyshire Record Office when system is scheduled for decommission

Example(s):

  • Insurance claims database records
  • Long Span apportionments tables
  • Insurer handled claim records
  • Bordereaux
  • Reconciliations
  • Bank statements from imprest account

Rationale: Business requirement

FIN 7.09: The summary management of claims and triangulation details

Disposition: ACTION+75

Example(s):

  • Summaries / triangulation

Rationale: Business requirement

Administering risk management and insurance

FIN 8.01: The registration of insurance underwriting information

Disposition: ACTION+15

Examples:

  • Renewal documents
  • Tender documents
  • Renewal and tender correspondence
  • Insurance Premium Register
  • Insured buildings and contents inventory
  • Motor vehicles inventory
  • Records of insurer cover clarification

Rationale: Business requirement

Location: EDRM, shared drives, finance management systems

FIN 8.02: The financial control of retained risks

Disposition: ACTION+50

Example(s):

  • Actuarial Fund Review Report
  • Supporting information used to produce Actuarial Fund Review Report
  • Funding analysis
  • Reconciliation, Liab sum
  • Accounts
  • Ledger Balancing
  • Year End
  • Recharges
  • Budgets
  • MMI Scheme of Arrangement
  • Bordereaux

Location: EDRM, shared drives, finance management systems

Rationale: Business requirement

FIN 8.03: Number not used

FIN 8.04: Maintaining pension fund insurance registers

Disposition: ACTION+15

Example(s):

  • Records of insured pension fund properties 

Rationale: Business requirement

FIN 8.05: Agreeing scope of insurance cover for individual cases

Disposition: DOB+25

Example(s):

  • Approval Medical Procedures correspondence
  • Waiver of rights of recovery correspondence

Rationale: Limitation Act 1980

Location: EDRM, shared drives, finance management systems

FIN 8.06: Agreeing scope of medical malpractice insurance cover for medical procedures

Disposition: DOB+25

Example(s):

  • Correspondence
  • Endorsements

Rationale: Limitation Act 1980

Location: EDRM, shared drives, finance management systems

FIN 8.07: Agreeing scope of insurance cover for partnerships/seconded employees/directors of boards

Disposition: DOB+25

Example(s):

  • Correspondence
  • Endorsements

Rationale: Limitation Act 1980

Location: EDRM, shared drives, finance management systems

FIN 8.08: Routine administration of risk management and insurance

Disposition: 6+

Example(s):

  • Correspondence re recovery salary paid to employees involved in road traffic accidents (non DCC liability)
  • Recoding and charging for Court of Protection properties
  • Engineering inspections: additions, deletions, correspondence
  • Short term vehicle hire insurance / recharging (Vehicle details, 4th EU returns)

Rationale: Business Requirement

Location: EDRM, shared drives, finance management systems

FIN 8.09: Administration of risk management and insurance on behalf of external bodies

Disposition: ACTION+75

Example(s):

  • Tenders
  • Renewals
  • Policy documents
  • Certificates
  • Schedules
  • Correspondence

Rationale: Business Requirement

Location: EDRM, shared drives, finance management systems

FIN 8.10: Insurance procurement processes

Disposition: ACTION+15

Example(s):

  • Insurer survey reports and correspondence
  • Broker / loss adjuster tender documents, appendices, award correspondence

Rationale: Business Requirement

Location: EDRM, shared drives, finance management systems

Operational risk management

FIN 9.01: Insurance loss control surveying

Disposition: 6+

Example(s):

  • Insurer survey reports
  • School’s Annual Security Risk Assessment questionnaire

Rationale: Business Requirement

Location: EDRM, shared drives, finance management systems

FIN 9.02: The agreement of dispensation from minimum insurance requirements

Disposition: ACTION+50

Example(s):

  • Correspondence confirming dispensation

Rationale: Business Requirement

Location: EDRM, shared drives, finance management systems

Audit: Planning and review of audit activity

AUD 1.01: Planning and review of audit activity

Disposition: 6+

Example(s):

  • Audit Points Forward schedule
  • Project brief
  • Audit Assignment Plan and staff briefing notes
  • Audit Recharges and performance stats
  • Audit planning
  • IDEA / Business Warehouse Data extracts (to be retained until next audit review)

Rationale: Business need

Location: Electronic file structure, audit servers

Audit: Summary management of audit activity

AUD 2.01: Notes of meetings and discussions with Management

Disposition: 6+

Examples: none given

Note: Previous documents scanned to Audit server

Rationale: Business need

Location: Electronic file structure

AUD 2.02: Other summary management records

Disposition: 6+

Example(s):

  • Internal Audit memoranda,
  • Action Plans and observations
  • Correspondence, if relating to routine Audit activities for example arranging the Audit
  • Service Plans, Organisation charts, Procedure Notes, Delegation Scheme, Relevant Contracts, Audit System Notes, Audit Flowcharts, External Audit Reports, Member and Management Reports, Publications and Relevant Legislation
  • Weekly Audit Plans and Office Diary
  • Audit Office Meetings
  • Audit Committee reports and working papers
  • Audit Manual and procedures

Rationale: Business need

Location: Electronic file structure, audit servers

Audit: Operational management

AUD 3.01: Operational management of audit activity (General)

Disposition: 6+

Example(s):

  • Analysis of time charged and reasons for variances
  • Working papers including file review and response.
  • Summaries of points arising where appropriate
  • Follow up of previous Audit recommendations

Rationale: Business need

Location: Electronic file structure

AUD 3.02: Operational management of audit activity (if frequency of Audit is 36 months or more)

Disposition: ACTION+15

Example(s):

  • Analysis of time charged and reasons for variances
  • Working papers including file review and response.
  • Summaries of points arising where appropriate
  • Follow up of previous Audit recommendations

Rationale: Business need

Location: Electronic file structure

Audit: Special investigations

AUD 4.01: Conducting special investigations

Disposition: 6+

Example(s):

  • Working papers
  • Action plans

Rationale: Business need

Location: Electronic file structure

AUD 4.02: Reporting special investigations

Disposition: ACTION+15

Example(s):

  • Audit reports
  • Appendices

Rationale: Business need. Forensic case management files may be deleted 12 months from case closure.

Location: Electronic file structure

Audit: Anti-fraud compliance

AUD 5.01: National Fraud Initiative (NFI) reporting

Retention: 6+

Example(s): Reports on NFI results

Rationale: Business need

Location: Electronic file structure

Audit: Forensic case management

AUD 6.01: Digital investigations case management

Retention: D<1 (destroy 12 months from audit report or conclusion of criminal/disciplinary case)

Example(s):

  • EnCase files

Rationale: Business need

Location: Portable data storage device

Procurement: Tendering

PROC 1.01: Tender specification and contract development (Ordinary contracts)

Disposition: TERMS+6

Example(s):

  • Tender specification. Note: For project files containing drafts leading to a final version these records can be destroyed.

Rationale: The Limitation Act 1980 s.5

PROC 1.02: Tender specification and contract development (Contracts under Seal)

Disposition: TERMS+12

Example(s):

  • Tender Specification. Note: For project files containing drafts leading to a final version these records can be destroyed.

Rationale: The Limitation Act 1980 s.8(02)

PROC 1.03: Pre-contract advice

Disposition: TERMS+6

Where a manual paper-based procurement is performed then Opening Notice and Tender Envelope should be destroyed 1 year from start of contract.

Example(s):

  • Expressions of interest.

Rationale: The Limitation Act 1980.

PROC 1.04: Tender evaluation (ordinary contracts)

Disposition: TERMS+6

Example(s):

  • Evaluation criteria.

Rationale: The Limitation Act 1980 s.5

PROC 1.05: Tender evaluation (contracts under Seal)

Disposition: TERMS+12

Example(s):

  • Evaluation criteria

Rationale: The Limitation Act 1980 s.8(02)

PROC 1.06: Successful tender documents (ordinary contracts)

Disposition: TERMS+6

Example(s):

  • Tender / quotation returns

Rationale: The Limitation Act 1980 s.5

PROC 1.07: Successful tender documents (contracts under Seal)

Disposition: TERMS+6

Example(s):

  • Tender / quotation returns

Rationale: The Limitation Act 1980 s.8(02)

PROC 1.08: Unsuccessful tender documents

Disposition: 6+

Example(s):

  • Tender / quotation Returns

Rationale: The Limitation Act 1980

Procurement: Contract files

PROC 2.01: Post tender negotiations

Disposition: TERMS+6

Example(s):

  • Clarification of contract
  • Post tender negotiation minutes

Rationale: The Limitation Act 1980

PROC 2.02: Awarding of contract (ordinary contracts)

Disposition: TERMS+6

Example(s):

  • Signed contract

Rationale: The Limitation Act 1980 s.5

PROC 2.03: Awarding of contract (contracts under Seal)

Disposition: TERMS+12

Example(s):

  • Signed contract

Rationale: The Limitation Act 1980 s.8(02)

PROC 2.04: Contract management

Disposition: TERMS+6

Example(s):

  • Service Level Agreements
  • Compliance records
  • Performance reports

Rationale: The Limitation Act 1980

PROC 2.05: Management and amendment of contract (ordinary contracts)

Disposition: TERMS+6

Example(s):

  • Minutes and papers of meetings
  • Changes to requirements,
  • Variation forms
  • Extensions of contract
  • Payment disputes.

Rationale: The Limitation Act 1980 s.5

PROC 2.06: Management and amendment of contract (contracts under Seal)

Disposition: TERMS+12

Example(s):

  • Minutes and papers of meetings
  • Changes to requirements
  • Variation forms
  • Extensions of contract
  • Payment disputes.

Rationale: The Limitation Act 1980 s.8(02)