Retention of Synod Financial Reports

Description of RecordsCare of RecordsFinal Disposition
Annual audit reportsCopies 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 assemblySend 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 yearsShred after 20 years
Canceled checks or
copies of canceled

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 invoicesRetain for 3 years.Shred after 3 years.