Finance
Records relating to the management of York University and unit financial resources.
FIN25
Loans, Investments, Guarantees
Consists of records relating to management of loans, investments, guarantees including lines of credit, term loan contracts, mortgages, forward exchange contracts and issues of bonds or debentures.
Office of Primary Responsibility
Finance
Retention
7 years after expiry of loan or investment
Disposition
Destroy
Other Copies
Retention
Do not retain
Disposition
n/a
See Also
ADG35 - Contracts and Agreements for signed contracts held by the University Secretariat
Retention Rationale
The Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.) s.230 (4)(b) requires that books and records be kept until the expiration of six years from the end of the last taxation year.
Filing Guidelines
A signed copy of any financial agreement or debenture with a value over $100,000 or a term of 5 years or more when worth over $50,000, or that is university wide when worth over $50,000, or that is complex when worth over $50,000 shall be deposited with the University Secretariat.
Approved by University Secretary and General Counsel on 2008-06-20