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Rochester Public Library Foundation

Document Retention and Destruction Policy

Adopted: 03/25/2025

Last Revision:  

Last Reviewed: 

Purpose

The Document Retention and Destruction Policy identifies the record retention responsibilities of staff, volunteers, members of the board of directors, and outsiders for maintaining and documenting the storage and destruction of the organization’s documents and records. 

The organization’s staff, volunteers, members of the board of directors, committee members and outsiders (independent contractors via agreements with them) are required to honor the policy.

Scope
This policy applies to all records in any form, including electronic documents that are used in conducting business of the Rochester Public Library Foundation. 

Record Retention

The following chart indicates the requirements of the RPLF’s document retention policy.

A. Permanent records

Permanent records are records required by law to be permanently retained and which are ineligible for destruction at any time for any reason.

• Corporate Records Permanent

  • Annual Reports to Secretary of State/Attorney General (this can be 7 years)

  • Articles of Incorporation 

  • Board Meeting Minutes

  • Board Committee Minutes 

  • Board/Organization Policies and Resolutions 

  • By-laws 

  • Fixed Asset Records

  • IRS Application for Tax-Exempt Status (Form 1023) 

  • IRS Determination Letter 

  • State Sales Tax Exemption Letter
    
    

• Accounting and Corporate Tax Records Permanent

  • Audits 

  • Depreciation Schedules 

  • IRS 990 Tax Returns

• Legal, Insurance and Safety Records Permanent

  • Appraisals 

  • Copyright Registrations 

  • Environmental Studies 

  • Insurance Policies

  • Real Estate Documents

  • Stock and Bond Records 

  • Trademark Registrations

B. Non-permanent Records Retention 

The following records are not required by law to be permanently retained should be destroyed after the passage of certain years (as noted below) or upon the passing of events as defined by this policy.

Notwithstanding the listing of documents below, no record, whether or not referenced may be destroyed if in any way the records refer to, concern, arise out of or in any other way are involved in pending or threatened litigation. 

Corporate Records 

• Contracts (after expiration)             7 years 

• Correspondence (general) 3 years 

Accounting and Corporate Tax Records 

• Business Expense Records 7 years

•  Financial Statements                        7 years

• IRS 1099s 7 years 

• General Ledgers                               7 years 

• Journal Entries 7 years 

• Invoices 7 years 

• Check Registers                                7 years 

• Petty Cash Vouchers 3 years 

Payroll and Employment Tax Records

• Payroll Registers                                7 years 

• State Unemployment Tax Records    7 years

• Employee Records                            4 years

• Employment & Termination Agreements 4 years

Document Destruction 

The Rochester Public Library Foundation Executive Committee is responsible for the ongoing process of identifying its records which have met the required retention period and overseeing their destruction. 

• Destruction of financial and personnel-related documents will be accomplished by shredding. 

• Document destruction will be suspended immediately, upon any indication of an official investigation or when a lawsuit is filed or appears imminent. 

• Destruction will be reinstated upon conclusion of the investigation or claim, whichever is latest. 

• No personally owned documents or files shall be placed on the RPLF Board Google Drive

Compliance 

Failure on the part of employees to follow this policy can result in possible civil and criminal sanctions against the Rochester Public Library Foundation and its employees and possible disciplinary action against responsible individuals. The Treasurer or individual designated by the Finance Committee chair will periodically review these procedures with legal counsel or the organization’s certified public accountant to ensure that they are in compliance with new or revised regulations.

We will be getting rid of this and adding a new document for destruction of documents. 

Type of Document

Minimum Requirement

Accounts payable ledgers and schedules - 7 years

Audit reports - Permanently

Bank reconciliations - 2 years

Bank statements - 3 years

Checks (for important payments and purchases) - Permanently

Contracts, mortgages, notes, and leases (expired) - 7 years

Contracts (still in effect) - Contract period

Correspondence (general) - 2 years

Correspondence (legal and important matters) - Permanently

Correspondence (with customers and vendors) - 2 years

Deeds, mortgages, and bills of sale - Permanently

Depreciation schedules - Permanently

Duplicate deposit slips - 2 years

Employment applications - 3 years

Expense analysis/expense distribution schedules - 7 years

Year-end financial statements - Permanently

Insurance records, current accident reports, claims, policies, and so on (active and expired) - Permanently

Internal audit reports - 3 years

Inventory records for products, materials, and supplies - 3 years

Invoices (to customers, from vendors) - 7 years

Minute books, bylaws, and charter - Permanently

Patents and related papers - Permanently

Payroll records and summaries - 7 years

Personnel files (terminated employees) - 7 years

Retirement and pension records - Permanently

Tax returns and worksheets - Permanently

Timesheets - 7 years

Trademark registrations and copyrights - Permanently

Withholding tax statements - 7 years

Rochester Public Library Foundation

Whistle Blower Policy

Last Revision: October 22, 2024

Last Reviewed: October 22, 2024

The Rochester Public Library Foundation (RPLF) is committed to operating in furtherance of its

tax-exempt purposes and in compliance with all applicable laws, rules and regulations, including

those concerning accounting and auditing, and prohibits fraudulent practices by any of its board

members, officers, employees, or volunteers.

The Whistleblower Policy is intended to encourage and enable employees and others (board

members, volunteers) to raise serious concerns internally so that the RPLF can address and correct

inappropriate conduct and actions. This policy outlines a procedure for employees and others to

report actions that an employee or other individual reasonably believes violates a law, or regulation

or that constitutes fraudulent accounting or other practices. This policy applies to any matter

which is related to RPLF’s business and does not relate to private acts of an individual not

connected to the business of the RPLF.

RPLF has an open door policy and suggests that employees and others report their questions,

concerns, suggestions or complaints. If an employee or other individual has a reasonable belief

that an employee or that RPLF has engaged in any action that violates any applicable law, or

regulation, including those concerning accounting and auditing, or constitutes a fraudulent

practice, the employee or volunteer is expected to immediately submit their concerns in writing

directly to the Investigator. The Investigator would be the Executive Director, Board President, or

another member of the executive committee. The Investigator will notify the person who submitted

the complaint and acknowledge receipt of the reported violation or suspected violation. Anyone

filing a written complaint concerning a violation or suspected violation must be acting in good

faith and have reasonable grounds for believing the information disclosed indicates a violation.

The Investigator is responsible for ensuring that all complaints about unethical or illegal conduct

are investigated and resolved. All reports will be followed up promptly, and an investigation

conducted by all pertinent board members. In conducting its investigations, RPLF will strive to

keep the identity of the complaining individual as confidential as possible, while conducting an

adequate review and investigation.

The RPLF Investigator shall immediately notify the pertinent members of the Finance Committee

and Executive Committee of any concerns or complaint regarding corporate accounting practices,

internal controls or auditing and work with the committee until the matter is resolved.

RPLF will not retaliate against any employee or other individual who in good faith reports an

ethics violation, or a suspected violation of law, such as a complaint of discrimination, suspected

fraud, or suspected violation of any regulation governing the operations of the RPLF. Anyone

who retaliates against someone who has reported a violation in good faith is subject to discipline

up to and including termination of employment (or asked to resign from the board).

The RPLF staff and board will be trained on this policy.