Trust Funds

Records Retention Guidelines

BACKGROUND

It is the belief of the UW Trust Funds office that all information related to disbursements from Trust Funds accounts should be maintained in perpetuity. The need for reporting to donors and other agencies requires that the following information be available:

    • Payment amount
    • Date
    • Recipient
    • Source account

In order to ensure availability of the information, this data has been maintained in the "Payments" file on the internal accounting system since 1983-84. For disbursement information prior to 1983-84, original paper documentation is maintained in the Trust Funds office.

SPECIAL CASES

In order to improve efficiency and streamline processing for various campus departments, lump sum distribution of scholarship payments has been initiated. Under this processing arrangement, the individual departments submit supporting documentation that includes the pertinent information mentioned above and a single disbursement entry is posted to the account. Under this arrangement the data is no longer stored in the "Payments" file but is maintained in paper form in the Trust Funds office in perpetuity.