Keeping Investment and Banking Records
Definitions
Records - Records are official and trustworthy documents used for accountability and transparency. Requirements for retaining records are mandated by federal and state laws and regulations. Investment and banking records consist of documentation related to the management of University financial assets, including debt issuance on behalf of the University.
Working Documents - Working documents are unofficial yet trustworthy documents used to support business activities. Examples include copies of official records retained for your convenience or preliminary planning documents.
Temporary Documents - Temporary documents are transitory and not records or working documents. Examples include drafts, reference materials, and routine correspondence.
Treasury Operations Responsibilities
OBFS retains investment and banking records for the current fiscal year and 5 previous fiscal years, including records such as:
- Summaries of daily cash flows and bank balances
- Records of investment funds and rates of return
- Electronic funds transferred information
- Reviews and analyses of banking services expenditures
OBFS retains administrative files related to debt issuance for the life of the bond and 3 fiscal years past final redemption, including records such as:
- Debt service calendars
- Debt service payments
- Details of expenditures for capital projects
Each year OBFS transfers annual summaries of outstanding debt (debt books) and listings of all debt transactions (bond transcripts) to University Archives.
Unit Responsibilities
Your unit does not have responsibilities for long term retention of investment and banking documents.
For assistance, consult your unit Records Liaison or records contact, if you have one, or the Records and Information Management Services team.
Records and Information Management Services
Urbana - University Archives
Chicago - University Archives
Springfield - Archives/Special Collections
Last Updated: April 11, 2016 | Approved: Senior Associate Vice President for Business and Finance | Effective: November 2010