Document ge0NyjBvDpn9w4r9x02Z5KgQ

r i irr EXHIBIT r 4><? Section: Effective Date: August 23, 1976 Policy Number: W CPhvApproval: SUBJECT: FILES AND RECORDS INTRODUCTION The Secretary of the Institute is the custodian of the records of the Institute and will issue, as necessary, instructions for implementing the API files and records management policy. The Office of the Secretary is to be contacted for assistance, any interpretations, questions or decisions concerning files and records. A Records Room is maintained by the Secretary for the storage of permanent and historical records. In addition, a basement storage room is available for retention of certain other inactive files and records. No files or records are to be placed in the basement storage area without the prior knowledge and approval of the Office of the Secretary. Transfiles or other boxes containing inactive material should be labeled as to content and an inventory kept identifying the contents of each container. A copy of the inventory should be sent to the Office of the Secretary. In general, the permanent files and records of the 34 State Petroleum Councils integrated into API on January 1, 1975 for the period September 1, 1958 through December 31, 1974, are maintained in the Offices of the State Petroleum Councils. Exceptions will be determined by the State Relations Director. POLICY General The Institute's files are divided into three classes: permanent files ' review files 1 temporary files 012083 SFP 011990 SC-API-4915 Permanent Files Permanent files consist of (a) committee membership lists and records; (b) minutes of committee and subcommittee meetings; . and (c) reports, records and other material referred to in minutes or deemed to have permanent reference or historical value. Permanent files must never be destroyed, although duplicate copies of material need not be retained. If the volume of material to be kept causes a storage problem, micro filming may be the appropriate solution. Review Files Review files consist of reports, correspondence and other materials containing information or data of possible continuing, but not necessarily permanent, value. Review files should be re-evaluated at least once a year to determine whether the materials should be retained in their present status, reclassified as permanent files or destroyed. Material in review files should not be held longer than five years unless there are special reasons for its retention. Temporary Files Temporary files consist of correspondence, working papers on projects and activities and other miscellaneous materials deemed to have reference value for a limited time. Temporary files should be frequently reviewed and culled. Authority to Dispose of Files Files and records should be held only as long as they serve a useful purpose or their retention is deemed legally necessary. When it has been determined that a need no longer exists, files and records should be destroyed. Under no circumstances should files and records be destroyed without prior approval of depart ment directors or their designated alternates. In addition to the guidance above, a records retention schedule of selected materials follows which is based upon requirements contained in the federal and District of Columbia codes and, in those cases where no legal requirements for retention exist, upon management decisions. Noted on the schedule, where appro priate, are the offices delegated responsibility for the proper retention, storage and maintenance of particular files and records. API RECORDS RETENTION SCHEDULE Minimum Retention Period Accounting and Financial Records Accounting records - Responsibility of Controller 012084 Accounting and Financial Records (Cont'd.) Minimum Retention Period General ledger General journal Annual audit records Cash receipts book Cash disbursement book Detailed trial balance Special reports Annual financial statements Cancelled checks (business) Paid invoices Tissue copy of checks Accounts Receivable copies of invoices Remittance advices Chart of accounts Business expense records Purchase order copies Sales invoices Order, shipping and billing records Purchase requisitions Permanent 5 years 3 years after the federal tax return to which the records relate was filed or became due, unless notified of an IRS assessment in which case the records should be retained an additional 6 years. II 1 year Budget Books and Workpapers - 5 years Responsibility of Director, Administration Corporate Tax Reports - Responsibility of Controller Federal Corporate tax returns Permanent (excluding payroll) Resale certificate Resale exemptions 3 years after the last transaction of pur chaser. Sales and use tax returns As required by state law. Bank Records Stop payment orders (Controller) 3 years Bank reconciliations (Controller) " Bank advices (Controller) " Check signature authorizations (Controller) " Check signature plates (Asst. Treasurer) " Duplicate deposit slips (Asst. Treasurer) " 012085 Minimum Retention Period Payroll Records - Responsibility of Controller Payroll master file Permanent State unemployment tax records ft , Cancelled checks (payroll) 4 years after the employment taxes of the return period to which the records relate are due or paid, Deductions register whichever is later. Earnings records Exemption certificates (W-4,W-4E) W-2 and W-3 withholding statements Payroll tax returns (federal, state and local) Notices of changes or adjustments to salary (rate change authorization, "Add-to-payroll" notices, etc.) Personnel Records - Responsibility of Director Employee Relations Records (vouchers, worksheets, receipts, 6 years after filing applicable resolutions, etc.) which date of document to provide the basic data necessary to which the records substantiate, explain or clarify the relate. documents (summaries, descriptions, annual reports, etc. of employee . benefit plans) which must be disclosed and filed in accordance with the Employee Retirement Income Security Act. Wage rate tables 4 years Job evaluations, letters of recommendation, 9 records explaining merit or seniority systems, or other matters which explain the basis for payment of wage differentials to employees of the opposite sex. Records relating to promotion, demotion 4 years after transfer, selection for training, lay termination of off, recall or discharge of employees. employment to which the records relate. Special certificates authorizing 3 years employment of workers whose earning capacity is impaired by mental or physical deficiencies at wages less than the minimum wage applicable under Standards Act. Job applications, resumes or any other 1 year from date of form of pre-employment inquiry, including the personnel action records pertaining to the refusal to to which the records hire any individual. relate. In cases where a charge of discrimi nation is charged and filed, until final disposition of the matter. '512086 Personnel Records (Cont'd.) Minimum Retention Period Job orders submitted by employer to an employment agency for recruitment of personnel. Test papers completed by applicants or candidates for any position. Any advertisements or notices to the public or to employees relating to job openings, promotions, training programs or opportunities for over time work. Employee Benefits - Responsibility of Asst. Treasurer Sick pay records Logs of each occupational injury and illness, and annual summaries of all such injuries and illnesses (OSHA forms 100, 101, and 102 or records containing the same information required on such forms). 4 years after the employment taxes of the return period to which records relate are due or paid, whichever is later. 5 years Insurance - Responsibility of Controller Policies Records of personal injury, fire and other claims against carrier. Reports and statements regarding personal injuries to outsiders. 3 years after termi nation 3 years after settle ment It Legal - Responsibility of General Counsel Trademarks Copyrights Patents Permanent 31 years from date originally granted or 59 years from date originally granted if renewed. 23 years from date granted. Contracts - Responsibility of Office of the Secretary Sealed contracts Leases Simple contracts 12 years after termi nation. 3 years after termi nation. 012087 Minimum Retention Period Administrative-Corporate Responsibility of Office of the Secretary Incorporation and reorganization records, including charter and bylaws. Documents and files pertaining to the appointment of statutory agents. API Membership Roll Historical Records Records of all Committee meetings held under the auspices of API as follows: A copy of the agenda, the attendance record, original copy of the minutes, a copy of reports, records and other material referred to in the minutes or deemed to have pertinent reference or historical value, will be submitted to the Secretary for file and retention. Permanent N 99