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POL Government Elected Officials Auditor Griffin-Valade Divisions Archives & Records Retention Schedules General Schedule
1003 FINANCIAL RECORDS

1003-01 BUDGET PREPARATION RECORDS

Records are used to assist in the preparation, development and administration of bureau and departmental budgets. Records include budget working records, budget manuals, spreadsheets, statistics, Office of Management & Finance (OMF) directives, and other data accumulated in the budget process, submission and presentation.
Record Copy? Yes
RETENTION: 2 years

1003-02 BUREAU BUDGET REQUESTS

Series documents bureau budget requests on an annual and supplementary basis. Records include budget submissions and budget worksheets submitted to the Budget Office.
Record Copy? Yes
RETENTION: 5 years

1003-03  BUREAU TIMEKEEPING PAYROLL AND ATTENDANCE RECORDS

Series is created to track time and attendance of bureau employees. Records consist of reports and records created or used to administer the bureau's timekeeping in support of payroll. Series includes computer programs and databases developed by bureaus to administer timekeeping. Series includes paper time and attendance records, overtime offered records, call out lists, out of class records, shift differential records, emails and all other records and documents supporting time review and approval. Records show anniversary dates, vacation and sick leave accumulations, hours worked.

 

Confidential?        Yes

Vital Record?        No
Record Copy?       Yes - bureaus responsible for maintaining their copies

RETENTION:        5 years Note: for the retention of records documenting the expenditure of grant funds, see grant   records in the Grants section of the general schedule.

1003-04 BUREAU PURCHASING RECORDS AND SOURCE DOCUMENTS

Series is created to document the purchases and payments for supplies, equipment and services. Records are copies of purchase requisitions, purchase orders (POs), local purchase orders (LPOs), contracts, contract release authorizations (CRAs), payment authorizations, receipts, invoices, IBIS entries, etc. The record copy is maintained by the Office of Management & Finance.
Record Copy? No
Where? Office of Management & Finance
RETENTION: 3 years

1003-05 CAPITAL IMPROVEMENT PROJECTS (CIP) RECORDS

Series documents major capital purchases and projects. Records include material and data produced in the preparation, submission and revision of the Capital Improvement Projects (CIP) budget. The record copy is maintained by the Office of Management & Finance.
Record Copy? No
Where? Office of Management & Finance
RETENTION:
(a) Records Related to project cost: 3 years after disposal or replacement of facility, structure or system
(b) Other records: 10 years after substantial completion

1003-06 FINANCIAL REPORTS

Series consists of reference copies of financial reports produced by Office of Management and Finance as well as other Bureau computer systems and used to monitor spending, workflow, performance measures and other bureau operations. Series includes initial and quarterly allotment reports, spending plans, quarterly review of performance measurements, reports on benchmarks, reallocation of funds, IBIS reports, FMS reports, and other similar reports.
Record Copy? No
Where? Originating Department or Office of Management & Finance
RETENTION: 2 years

1003-07 FINANCIAL TRANSACTION RECORDS

Records are used to document monetary transactions handled by bureau cashiers. Series also includes requests and payments from petty cash funds. Records include receipts, journals, petty cash forms, inventories, reconciliation reports and notes, refunds, check registers, cancelled checks, and other records used to track financial transactions, stores/inventory disbursements and petty cash funds. Series may also include checks returned for nonpayment and transactions documenting coffee funds, etc. Series also includes postal records.
Record Copy? Yes
RETENTION: 3 years

1003-08 COMPETITIVE BID RECORDS: PROFESSIONAL, TECHNICAL & EXPERT SERVICES CONTRACTS

Records document the publication, evaluation, and awarding of quoted bids to vendors and other individuals or organizations. Provides recorded evidence of accepted and rejected bids. May include requests for proposals (RFP), bid exemption documents, bid and quote lists, notices of bid opening and award, comparison summaries, spreadsheets, tabulation worksheets, bid advertising records, tally sheets, bid specifications, correspondence, and related records. Note: Individual Bureaus usually manage the competitive bid process for PTE contracts. The Bureau of Purchases may manage the process in a high dollar volume instance.  In these cases, the Bureau of Purchases is responsible for maintaining the records.

 

Confidential? Yes, until contractor has been selected
Vital Record? No
Record Copy? Yes

 

RETENTION:   Retain 6 years after bid awarded or canceled

 

AUTHORITY:  OAR 166-200-0050(8)

 

1003-09 TAX-EXEMPT AND TAX-ADVANTAGED DEBT EXPENDITURE RECORDS

Records related to the expenditure and use of assets financed with tax-exempt and tax-advantaged debt offerings subject to United States Treasury and Internal Revenue Service regulations, such as:  long-term bonds; bank loans; lines of credit; notes and other applicable borrowing facilities.  Bureaus must follow City ofPortland Public Financeand Treasury Division’s Tax Compliance Procedures.

 

Records include, but are not limited to:

  • expenditure documentation, including contracts, invoices, draw requests and cancelled checks/ACH payments
  • records that track sales of tax-exempt and tax-advantaged debt financed assets
  • financial/accounting transactions provided as support for reimbursement requests submitted to the City Debt Manager
  • may include tax-exempt or tax-advantaged capital leases, management contracts with third parties and any sales agreements related to the sale of tax-exempt or tax-advantaged financed assets
  • other pertinent documentation or correspondence related to the uses of assets financed with tax-exempt or tax-advantaged debt

 

Confidential?       No

Vital Record?       Yes

Record Copy?      Yes

 

RETENTION:     Life of the debt obligation and any refinancing used to repay the obligation, plus 3 years

 

AUTHORITY:    26CFR1.148-5(d)(6)(iii)(E)

 

Contact Information
Archives & Records
1800 SW 6th Ave, Suite 550
Portland, OR 97201
phone: 503-865-4100 (new)

 

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