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Guidelines for Record Retention and Destruction
The majority of sponsored projects have legal requirements as to how long project records, particularly financial records, must be retained. These guidelines recognize these legal requirements as well as the substantial physical and fiscal resources required to retain technical, clinical, financial and other project records.
“Records” includes any documentary material made or received in connection with the application for, or conduct of, a sponsored activity. “Records” includes paper, electronic records, and records, reports or data in other media.
Electronic records should be backed up regularly in a way that would prevent a catastrophic loss and ensure the quality and integrity of the data.
Records should not be retained longer than required. This minimizes unnecessary administrative burden and expense, and records discarded in accordance with regulation and policy are no longer available for audit.