Are departments required to maintain paper copies of the monthly Statement of Account (SOA) for records retention purposes?
Up through May 2003 departments are required to keep signed salary and fringe SOAs for FE + 3 years (Agency #AALL538 in the UT-Austin retention schedule). Requests for their destruction after the retention period has ended should be prepared and submitted to the Office of Accounting for approval. Beginning in June 2003, the salary and fringe SOAs can be certified on-line and if your department utilizes this on-line service or reconciles using the LMM, then you are not required to maintain paper copies. If your department does, then these would be considered convenience copies.
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