Retention of Synod Financial Reports
| Description of Records | Care of Records | Final Disposition |
|---|---|---|
| Annual audit reports | Copies must be submitted to the treasurer of the ELCA. | Send to the ELCA archives. |
| Synodical Budget/Actual Submission form | The Synodical Budget/Actual Submission form and guidelines are provided by the ELCA Office of the Treasurer to assist in reporting results in consistent categories. | Send to the ELCA treasurer. |
| Annual budget Annual treasurer’s report Information on permanent bequests, gifts, and endowments | Must be included in the minutes of the synod assembly | Send with the minutes to the ELCA archives. |
| Bequests after distribution Mortgages paid in full Legal files and notes on synodically owned real estate Loans and notes after sale or termination | Retain for 20 years | Shred after 20 years |
| Canceled checks or copies of canceled checks Cash receipt record Special fund-raising appeal record Bank reconciliations Accounts payable vouchers, originals, and documentation Payroll administration records, such as W-2, W-4, 941 forms, and payroll registers Cash receipt journals | You will have a financial management database that handles all your accounting transactions. Retain the information regardless of format for 7 years. (IRS requires a retention period of 4 years.) | Delete and/or shred after 7 years. |
| General invoices | Retain for 3 years. | Shred after 3 years. |