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common records schedule

Finance

Records relating to the management of York University and unit financial resources.

FIN35

Unit Budgets

Consists of records relating to planning, control and follow-up of unit budgets and their components (operating funds, investment funds, research funds, special funds, trust funds). Records may include year-end financial statements, budget frameworks and rules, budget estimates and submissions, approved budgets and revisions, bridging summaries, monthly budget summaries, related documentation and correspondence.


Office of Primary Responsibility

Units

Retention

7 years after last action

Disposition

Destroy


Other Copies

Retention

Until operational use ceases

Disposition

Destroy


See Also

FIN30 - University Budgets


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.


Approved by University Secretary and General Counsel on 2010-09-30