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common records schedule

Finance

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

FIN40

Procurement

Consists of records relating to acquisition of goods and services including bid and competitive selection processes. Records may include specifications, requests for proposals (RFP), requests for tender (RFT) or requests for quotes (RFQ), vendor proposals and bids, bid tabulation sheets and records of all bids received (successful and unsuccessful), department requisition forms, purchase orders and contracts, related documentation and correspondence.


Office of Primary Responsibility

Procurement Services or signing unit

Retention

Until contract superseded (for renewed or extended contracts) or until 1 year after contract expired or action completed unless there is a longer warranty, in which case documentation retained for length of warranty

Disposition

Destroy


Other Copies

Retention

Until operational use ceases

Disposition

Destroy


See Also

ADG35 - Contracts and Agreements for signed copies of contracts held by the University Secretariat

FIN10 - Accounts Payable for documentation of financial accountability

FCL21 - Lease Administration


Retention Rationale

Retention based on anticipated operational use.


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
Updated on 2015-03-10