S.C. Code Regs. 12-806.9. Computer Output Reports from Accounting Financial Data Bases (Permanent)

A. Description: Financial reports generated from a computer data base for use in accounting for the receipt/disbursement of financial resources for an institution. These are cumulative fiscal year end closeout reports summarizing the financial activities of the institution by providing final year-to-date summary accounting data and a permanent audit trail for all receipt and disbursement transactions affecting any and all funds and accounts. Types of reports include: year end general and subsidiary ledgers sorted by account, and summary of expenditures by program, fund, and object. B. Retention: (1) Office: 3 years. Microfilm. (2) College or University Archives: Permanent.