23. Document retention
23.1. The Director of Finance is responsible for the retention of financial documents. These should be kept in a form acceptable to the relevant authorities. The University is required by law to retain prime documents for six years. These include:
- Official purchase orders;
- Paid purchase invoices;
- Sales invoices;
- Bank statements;
- Paid cheques;
- Records documenting receipts;
- Payroll records, including part-time lecturers’ contracts;
23.2. Additionally, for auditing and other purposes, other financial documents should be retained for three years or as determined by the funder.
23.3. Members of staff should ensure that retention arrangements comply with any specific requirements of funding organisations such as research bodies, regional development agencies and European funding bodies.
23.4. Under the terms of the Charities Act 1993, Council is required to supply any person with a copy of the University’s most recent financial statements within two months of a request. The Act enables Council to levy a reasonable fee and this will be charged at the discretion of the Director of Finance. The University will also allow members of the public to inspect the financial statements during normal working hours and make a copy available on the University’s website.
