166-200-0440 Financial Records (1) Accounts Payable Records: Series documents payment of city bills for general accounts, excluding grants. Records may include reports, invoices, statements, vouchers, purchase orders, payment authorizations, receipt records, canceled checks or warrants, and related documentation. SEE ALSO: Grant Records. Minimum retention: 3 years after annual audit report has been completed. (2) Accounts Receivable Records: Series documents revenues owed to the city by vendors, citizens, organizations, governments, and others to be credited to general accounts excluding grants. Records may include reports, receipts, invoices, awards, logs, lists, summaries, statements, and related documentation. SEE ALSO: Grant Records; and City Improvement Administrative and Financial Records. Minimum retention: 3 years after collected or deemed uncollectible. (3) Adopted Budget: Series documents the final annual financial plan approved by the city council for all city expenditures. Records may include budget message, financial summaries, revenues and expenditures, operating programs, debt service, position and wage analysis, overhead allocations, organization charts, previous actual and budgeted amounts, and related documentation. Minimum retention: Permanent. (4) Assessment Balance Reports: Series documents the status of billings related to assessments for city improvements. Records may include reports showing account status by tax lot, ordinance, delinquent balances, and other criteria. Minimum retention: (a) Annual reports or similar cumulative summaries, permanent; (b) All other reports, 3 years. (5) Assessment Dockets, Ledgers, and Registers: Series documents payments made by property owners for assessment to finance city improvements. Records may include property assessments, terms, payment documentation, and related documentation. Minimum retention: 3 years after final payment. (6) Audit Reports, External: Series documents annual audits of the financial position of the city by external auditors. Records may include accountant’s summary, combined financial statements, schedules, balance sheet details, comments, recommendations, and related documentation. SEE ALSO: Audit Records, Internal. Minimum retention: Permanent. (7) Balance Status and Projection Reports: Series documents status of funds, bank accounts, investments, and other accounts of city funds. Minimum retention: 3 years after annual audit report issued. (8) Bank Transaction Records: Series documents the status and transaction activity of city funds held at banks. Records may include account statements, deposit and withdrawal slips, checks, and reconciliation records. SEE ALSO: Grant Records for retention of records documenting grant transactions. Minimum retention: 3 years after annual audit report issued. (9) Bankruptcy Notice Records: Series documents the notification to the city that certain individuals have filed for bankruptcy. Records may include notices of bankruptcy filings from U.S. Bankruptcy Court and related documentation. Minimum retention: 3 years from discharge of debt or last action by city, whichever comes first. (10) Bond Records : Series documents actions pertaining to all city bond issues including foreclosures. Records may include property assessments, registers and receipts, payment schedules, title reports, legal opinions, resolutions, lists of properties to be sold, memoranda, and related documentation. Minimum retention: (a) Foreclosure records , 3 years after final payment, redemption, sale, or action; (b) Registers and receipts, 3 years after annual audit report issued; (c) All other bond records, 3 years after final payment. (11) Budget Preparation Records: Series documents the preparation of department budget requests presented to the city council. Records may include staff reports, budget instructions, worksheets, surveys, allotment reports, spending plans, contingency plans, budget proposals, financial forecasting reports, and related documentation. Minimum retention: 2 years. (12) Check Conversion Records: Series documents checks received from customers that are electronically deposited after being converted to an Automated Clearing House (ACH) transaction or Image Replacement Document (IRD). Minimum Retention: (a) Original paper instrument, 30 days; (b) ACH transaction or IRD, 3 years. (13) City Improvement Administrative and Financial Records: Series documents the non-technical and financial administration of city improvements, including capital improvements, local improvement districts, urban renewal, and economic improvement districts. Records may include affidavits of posting, notices of proposed assessments, certificates of mailing, interested party letters, bid quotes, reports, awards, expense reports, purchase orders, requisitions, cost analyses, construction and maintenance bonds and insurance, and related documentation. SEE ALSO: Assessment Dockets, Ledgers, and Registers . Minimum retention: (a) Records of project cost, 3 years after disposal or replacement of facility, structure, or system; (b) All other improvement records, 10 years after substantial completion [as defined by ORS 12.135]. (14) Collective Bargaining Records: Series documents negotiations between the city and employee representatives. Records may include contracts, reports, negotiation notes, letters of agreement, arbitration findings, cost analyses, minutes, audio and video recordings, and related documentation. Minimum retention: (a) Contracts and minutes, 75 years after contract expires; (b) All other records, 6 years after contract expires. (15) Competitive Bid and Competitive Proposal Records: Series documents the publication, evaluation, rejection, and award of quoted bids to vendors and other entities. Records may include requests for proposals (RFPs), requests for qualifications (RFQs), invitations to bid (ITBs), requests for information (RFIs), bid exemption documents, bid and quote lists, notices of bid opening and award, comparison summaries, spreadsheets, tabulation worksheets, bid advertising records, tally sheets, bid specifications, and related documentation. SEE ALSO: Purchasing Records. Minimum retention: (a) Accepted city improvement bids and bid exemptions for construction projects, 10 years after substantial completion [as defined by ORS 12.135]; (b) All other accepted bids and bid exemptions, 6 years after bid awarded or canceled; (c) Rejected bids, 2 years. (16) Credit and Debit Receipts: Series documents the city’s copy of credit or debit card receipts documenting payments received. Minimum Retention: 3 years after transaction. (17) Financial Impact Analysis Records: Series documents the financial analysis of various city practices. Records may include reports, studies, worksheets, and related documentation. Minimum retention: 3 years. (18) Financial Reports: Series contains reports on the general financial condition and operation of the city. Minimum retention: (a) Annual reports, permanent; (b) All other financial reports, 3 years after annual audit report issued. (19) General Ledgers: Series documents the annual summary of accounts reflecting the financial position of the city. SEE ALSO: Subsidiary Ledger, Journal, and Register Records. Minimum retention: 10 years. (20) Gift and Contribution Records: Series documents unconditional gifts and contributions to the city. SEE ALSO: Contract, Lease, and Agreement Records for conditional gift, contribution, and donation records. Minimum retention: 3 years. (21) Grant Records: Series documents funds received or disbursed by the city for specific projects. Records may include applications, project proposals, evaluations and recommendations, summaries, budgets, grant agreements, inventories, financial reports, and accounting records. Minimum Retention: (a) Records documenting the purchase or disposal of real property, 10 years after substantial completion [as defined by ORS 12.135], or 3 years after final disposition, or as specified in agreement, whichever is longer; (b) Unsuccessful grant applications, 1 year after rejection or withdrawal; (c) All other grant records, 10 years after final expenditure report approved or as specified in agreement, whichever is longer. (22) Investment Records: Series documents and tracks various investments made by the city. Records may include bank statements documenting investment information, journal entries, confirmations of purchase of U.S. Treasury Bills, confirmation of deposit in local investment pool, deposit slips, memoranda related to specific investments, and related documentation. Minimum retention: 3 years after investment ends. (23) Lien Records: Series documents liens issued by the city to collect for unpaid assessments or services. Minimum retention: 3 years after lien paid in full. (24) Local Tax Levy Records : Series documents various city tax levies. Records may include tax returns, tax forms, levy calculation materials, and related documentation. Minimum Retention: 6 years . (25) Petty Cash Fund Records: Series documents petty cash activity for the city. Records may include requests and authorizations to establish petty cash funds, ledgers, statements, requests for disbursements, and copies of receipts and invoices. Minimum retention: 3 years. (26) Purchasing Records: Series documents orders, authorizations, and evidence of receipt of the purchase of goods and services by the city. Records may include purchase orders and requests, authorizations, requisitions, and related documentation. SEE ALSO: Competitive Bid and Competitive Proposal Records; and Grant Records. Minimum retention: 3 years. (27) Real Property Transaction Records: Series documents acquisitions, dispositions, and relocations of real property and rights-of-way by the city for urban renewal projects, parks, sewers, streets, water lines, traffic signals, and other reasons. Records may include cultural resource records, offer letters, options, agreements of short duration, staff reports, appraisal reports and reviews, inspection reports, letters of transmittal, summaries, and related documentation. SEE ALSO: Deeds to City-Owned Land. Minimum retention: 10 years after transaction completed and final audit accepted. (28) Revenue Sharing Records: Series documents evidence of receipt and administration of federal and/or state revenue sharing funds including those from state liquor and cigarette taxes. Records may include transmittals, affidavits of publication, planned and actual use reports, and related documentation. Minimum retention: 3 years. (29) Subsidiary Ledger, Journal, and Register Records: Series documents details of transactions such as those related to receipts and expenditures on a daily, monthly, quarterly, or similar basis. Records may include journals, ledgers, registers, day books, and other account books that provide backup documentation to the general ledger. Minimum retention: (a) Year-end payroll register, 75 years; (b) Trust fund ledgers, 3 years after trust fund closed; (c) All other subsidiary ledgers, journals, and registers, 3 years. (30) Tax Assessment Deferral Records: Series documents various types of assessment deferrals for city improvements. Records may include applications, deferral claims, statements, financial documents, and other documentary proof showing satisfaction of requirements. Minimum retention: 3 years after final payment. (31) Trust Fund Records: Series documents bequests to the city or funds held in trust by the city for specific parties. Records may include wills or other legal documents, expenditure records, chronologies, resolutions establishing trust funds by the city, records documenting subject matter approved for purchase, acquisition lists, and related documentation. SEE ALSO: Subsidiary Ledger, Journal, and Register Records. Minimum retention: 3 years after trust fund closed. (32) Unclaimed Property Report Records : Series documents annual reports submitted to the Oregon State Treasury of financial assets being held for a person or entity that cannot be found. Records may include Holder Report, owner information, and related documentation. Note: Unclaimed property is not real estate, abandoned personal property, or lost and found items. Minimum Retention: 3 years after the property is remitted to the Oregon State Treasury . (33) Utility Customer Account Records: Series documents management of accounts of public utility customers. Records include application and disconnection requests, billing and payment records, routine meter reading records, account change records, and related documentation. Minimum retention: (a) Account change records, 2 years; (b) Security deposit records, 3 years after refund or last action; (c) Internet Protocol (IP) address assignment records, until superseded or obsolete; (d) All other records, 3 years. (34) Vendor Lists: Series documents vendors providing goods and services to the city. Minimum retention: Until superseded or obsolete. Statutory/Other Authority: ORS 192.005 - 192.170 & ORS 357.805 - 357.895 Statutes/Other Implemented: ORS 192.005 - 192.170 & ORS 357.805 - 357.895 History: OSA 3-2025, adopt filed 07/03/2025, effective 07/03/2025