University of British Columbia

Schedule No.:


This is a recommendation to (check one):

X -- Establish retention/disposal schedule

Series Title:

Bank and Endowment Accounting

Office of Primary Responsibility (OPR):

Financial Services

Purpose and Description of Records:

The series consists of six sub-series: Endowment Files (deeds, wills, and related documentation), Endowment Account Ledgers, Bank Reconciliations, Bank Statements, Cancelled Cheques, and GST Reconciliations.

Personal Information Bank?

X -- No

Vital Record?

X -- Yes

Retained by:

X -- Fiscal Year

Retention Period (Years):

Office -- (see below)
Records Centre / Storage --
Total --

Final Disposition:

X -- Destruction
(except for Endowment Files)

Retention Instructions:

Financial Services shall retain the records in this series for C + 7 years, except for Endowment Account Ledgers, which are kept for one year, and Endowment Files, which are kept permanently. All records except those in the Endowment Files sub-series are destroyed at the end of their retention period. Other offices do not normally receive copies of these records.

Appraisal Rationale:

With respect to the retention of financial records, British Columbia's Limitation Act, S. 3(5), states that debts are not collectible, and goods are not recoverable, after six years; S. 3(4) also provides for a general limitation period of six years. It is also standard practice for the OPR to retain financial records for between five and seven years after the year of their creation - see, for example, the British Columbia Government's Administrative Records Classification System [ARCS] (1989), and Records Retention: Law and Practice, by Anson-Cartwright, et. al. (Carswell, 1994).

Date of Initial Publication:

12 August 1997