SECTION 375:8-5-6. Other financial records

(a)   Unless specifically provided otherwise by administrative rule, all other financial records shall be retained in house until placed in permanent storage. Such documents shall be held in house or in permanent storage for not less than three (3) years. Once placed in permanent storage, all such documents stored in house may then retained or destroyed at the discretion of the Director.

(b)   Documents relating to annual inventory reviews and documents which support posting the inventory database shall be retained in house until placed in permanent storage. Such documents shall be held in permanent storage for perpetuity. Once placed in permanent storage, all such documents stored in house may then be retained or destroyed at the discretion of the Director.

(c)   Correspondence between the OSBI and the Office of State Finance, Department of Central Services, State Treasurer, State Auditor and Inspector and/or vendors whether in hard copy form or maintained in electronic mail systems shall be retained until one (1) year after all audits have been completed and all applicable audit reports have been accepted and resolved by all applicable federal and state agencies then retained or destroyed at the discretion of the Director provided no legal action is pending. If legal action involving the records is pending, the records shall be retained until the exhaustion of all legal remedies, then retained or destroyed at the discretion of the Director.

(d)   Copies of signature cards submitted to the State Treasurer, the Office of Personnel Management, Department of Central Services, the Office of State Finance or to other State Agencies containing the names and signatures of persons authorized to deposit proceeds or moneys in agency accounts or sign checks shall be retained in office until the person listed is no longer authorized to handle financial transactions, then retained or destroyed at the discretion of the Director.

(e)   Warranties for equipment purchased by an agency for its use shall be retained in office until the warranty is no longer effective, then retained or destroyed at the discretion of the Director provided no legal action is pending. If legal action involving the records is pending, the records shall be retained until the exhaustion of all legal remedies, then retained or destroyed at the discretion of the Director.

[Source: Added at 17 Ok Reg 2527, eff 6-26-00; Amended at 26 Ok Reg 1676, eff 6-26-09]