Westmoreland Land Trust will follow the below the minimum requirements to use as a guideline for its document retention.
|Type of document||Minimum requirements (years)|
|Accounts payable ledgers and schedules||7|
|Checks (for important payments and purchases)||3|
|Contracts, mortgages, notes, and expired leases||7|
|Contracts while in effect||Permanently|
|Correspondence (general – written – via mail)||2|
|Correspondence (legal and important matters)||Permanently|
|Correspondence (customers and venders)||2|
|Deeds, mortgages, bills of sale||Permanently|
|Duplicate deposit slips||2|
|Expense Analysis’s/expense distribution schedules||7|
|Year end financial statements||Permanently|
|Insurance Policies (expired)||3|
|Insurance records, current accident reports, claims, policies||Permanently|
|Internal audit reports||3|
|Inventories of products, materials, supplies||7|
|Invoices (customers, from venders)||7|
|Minute books, by laws, charter||Permanently|
|Tax returns and worksheets||Permanently|
|Trademark registrations and copyrights||Permanently|
Those documents that are to be permanently retained shall be stored in a location secure from fires, floods or other casualties as determined by the Board with working copies always readily available for reference at the general office of the Trust. The Secretary or some other designated individual by the Board shall ensure distribution, storage and destruction of documents in compliance with this policy.
The destruction of documents shall be effected by discarding documents in the trash with an emphasis on recycling when possible. As necessary, documents shall be shredded to protect confidentiality and to honor privacy concerns.
Adopted by the Westmoreland Land Trust Board of Directors on September 24, 2008.
The mission of the Westmoreland Land Trust is to conserve and steward lands and waters of Westmoreland County that harbor ecological, scenic or recreational qualities to offer a healthier and more sustainable future for all.