Office of Record
Because your department retains all copies of documentation related to FlexCard purchases, it is the OFFICE OF RECORD for the documentation.
As the Office of Record, your department must retain original copies of all FlexCard purchase documentation for the period of time mandated by University of California policy.
“General” Funds
For all purchases made with general (19900) and similar university funds (20000, 69750, 07427, service enterprise and income, etc.), documentation must be retained for FOUR years following purchase.
Extramural Funds
All purchases made with extramural funds (Federal, State or other agency) are subject to more stringent requirements, which vary according to the agency. Extramural financial records are to be retained for the period stated in the award agreement. If no retention period is specified, retain the records for 3 years following the awarding agency's acceptance of the final Closeout Report, or 6 years after the award's expiration/termination, provided any litigation, claim, or audit has been resolved.
Once original copies have been scanned, they may be discarded. The scanned record must then be maintained for the retention period. If documentation is not scanned, then the original copies must be maintained for the full retention period.
FlexCard documentation is subject to audit by:
- FlexCard Administration
- UCSB Audit & Advisory Services
- External Auditors, including the University's contracted financial auditor (currently Price WaterhouseCoopers), State Board of Equalization (sales and use tax) and various Federal agencies.