The Office of the Controller maintains the official copy of financial records, except in the case of time cards and EASY receipts, where the department maintains the official records for a period of seven years. All records are maintained consistent with federal requirements for grants, contracts and taxes.
Financial records (electronic and paper), supporting documents, correspondence, statistical records, records for real property and equipment acquired with federal funds, and all other records pertinent to a sponsored award or tax return shall be retained for a period of seven years quarterly or annually, from the date of submission of the quarterly or annual financial report or seven years from the filing date of the University's tax returns. Departments need to be aware of any specific language in a contract that dictates the length of record retention. For non-sponsored accounts, financial records are to be retained at least seven years from the date the tax returns are filed. If any litigation, claim, or audit is started before the expiration of the seven year period, the records shall be retained until all litigation, claims, or external audit findings involving the records have been resolved and final action taken.
Items maintained by the Controller's Office include expenditure statements, validated deposit advices, journal vouchers, transfer forms, and supporting documents for disbursements such as invoices check requisitions, and payroll forms. Copies of these documents on file in originating departments are "convenience" copies and may be discarded when no longer needed by the department.
- Office of the Controller-443-997-8151