FINANCIAL OFFICER
RESOURCES

Retention Period Definitions

Active Retain for the period during which the record remains in active use, or until it transitions to a closed status
Current Retain until records or information are no longer current; that is, they have been superseded or replaced by new information content
Current + 1 Prior Meeting Retain the current version of the record plus records for the stated number of meetings
Current Year (Retain until the end of the current year, plus the period of years stated)
Death of Donor Retain until death of the donor
Duration of Employment Retain until employment retirement, death, or termination
End of Project Retain until project completion
Estate Settlement Retain until all issues associated with the estate have been fully resolved
Expiration Retain until record transitions to a closed or expired status
Expiration of Agreement See Expiration
Expiration of Contract See Expiration
Final Payment Retain until final payment of benefits
Final Resolution Retain until settlement, closure, or final disposition of a matter
Life of Asset Retain until asset is retired from service and has been properly accounted for under relevant legal, regulatory, or policy requirements
Life of Author Retain for the life of the author
Life of Building Retain for life of the building or physical infrastructure and all applicable legal, regulatory, or policy requirements have been satisfied
Life of Estate Retain until all issues associated with the estate have been fully resolved
Life of Facility Retain for life of the facility or physical infrastructure and all applicable legal, regulatory, or policy requirements have been satisfied
Life of Instrument Retain until the musical instrument is removed from service
Life of Loan Retain until all issues associated with the loan have been fully resolved
Life of Plan Retain until plan is no longer active or in existence
Life of President Retain until death of the President
Life of Property Retain until property is no longer owned
Life of Royalty Retain until royalty is no longer valid and all applicable legal, regulatory, or policy requirements have been satisfied
Life of System Retain until system is removed from service
Life of Vehicle Retain until vehicle is removed from service
Ordination Retain until ordination of priests
Permanent Retain permanently, for the life of the church
Project Completion Retain until project completion
Publication Retain until the publication of the resource materials/manuscripts
Settlement Retain until settlement or final resolution of relevant matter
Superseded Retain until the record is superseded or replaced by a new record or an updated version of the existing record
Termination of Employment Retain until employment retirement, death, or termination
Termination of Service Retain until volunteer retirement, death, or termination
Until Deceased Retain until death of minister, staff member, or church leader
Various Per Schedule An indication that the retention requirements for the item appear throughout the retention schedule