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Foundation Account Fiscal Files

Arranged By:   By fiscal year
Application Number:   89-23
Item Number:   170.01

Purpose

This record series contains fiscal documents pertaining to the University Foundation.  Included are transmittal reports (receipts of funds received by the Foundation), journal vouchers, supporting documentation for payment requests (e.g. bills, invoices), and related correspondence.

Procedure

Retain in office for three (3) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Audit Reports

Arranged By:   Chronological
Application Number:   89-23
Item Number:   170.02

Purpose

This record series contains the University's record copies of audit reports for all divisions and accounts.  These audits were previously conducted by independent, private firms.  The adoption of the 1970 State Constitution, however, has allowed the overseeing jurisdiction of the audit process to be placed under the supervision of the Auditor General.

Procedure

Retain in office for six (6) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.  (Prior to disposal, the series may be offered to the University Archives for accessioning).

Foundation Audit Reports

Arranged By:   Chronological
Application Number:   89-23
Item Number:   170.03

Purpose

This record series contains the agency record copies of audit reports done on the University Foundation by the Auditor General and private auditors.

Procedure

Retain in office for six (6) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.  (Prior to disposal, the series may be offered to the University Archives for accessioning).

Subject Correspondence File

Arranged By:   Alphabetical by subject
Application Number:   89-23
Item Number:   170.04

Purpose

This record series consists of memos and correspondence received by the Controller's Office from various federal agencies, the Illinois Secretary of State, the Legislative Audit Commission, the Auditor General, the State Comptroller, the NCAA, and other university offices.

Procedure

Retain in office for three (3) years, then with the assistance of University Archives staff, identify and dispose of all extraneous items.  Transfer remaining accumulation to the University Archives for evaluation and possible accessioning of records possessing archival value.

Indirect Cost Rate Files

Arranged By:   Chronological
Application Number:   89-23
Item Number:   170.05

Purpose

This record series contains information used in the annual calculation of the University's Indirect Cost Rate.  This indirect cost rate must be verified by the federal government and is then utilized by various university departments when submitting grant proposals. These files include the actual proposal, work papers, correspondence regarding the rate, and the official indirect cost rate verification received from the federal government.

Procedure

Retain in office for ten (10) years, then dispose of provided all required audits (federal and state) have been completed, if necessary, and no litigation is pending or anticipated.

IPEDS and HEGIS Reports

Arranged By:   Chronological
Application Number:   89-23
Item Number:   170.06

Purpose

This record series contains IPEDS (Integrated Post-Secondary Educational Data System) reports and HEGIS (Higher Education and General Information Survey) reports. These reports (HEGIS is merely a predecessor of the IPEDS) cover survey data pertinent to affirmative action implementation, student enrollment, personnel salaries and tenure, curricula development policies, and general resources and allocation management strategies and trends. The Office of Institutional Research maintains the record copies of these reports permanently.

Procedure

Retain in office for five (5) years or until all administrative value has expired, whichever is longer, then dispose of.

Land Acquisition Files

Arranged By:   By purchaser's name
Application Number:   89-23
Item Number:   170.07

Purpose

This record series consists of land acquisition files for all real property acquired by the University and/or the University Foundation.  This information is utilized in the preparation of real property reports and is often referenced by other divisions of the University. Included in these files are original land titles, property descriptions, original contracts to purchase the land, grants of easements, land acquisition reports, and any relevant correspondence.

Procedure

Retain in office until closure of land acquisition project, then transfer to the University Archives for permanent retention.

Foundation Tax Files

Arranged By:   By fiscal year
Application Number:   89-23
Item Number:   170.08

Purpose

The Controller's Office is responsible for the preparation of all financial statements pertaining to the University Foundation. This record series contains the Foundation's tax statements and forms.  Included would be sales tax reports, non-taxable entity income tax forms, tax withholding forms (required for all honorariums in excess of $1000), various other tax information statements, and related correspondence. These files are subject to federal audit.

Procedure

Retain in office for six (6) years, then dispose of provided all required audits (federal and state) have been completed, if necessary, and no litigation is pending or anticipated.

Contact Us

Ethics and Compliance Office
Health Services Building, 2nd floor
815-753-5560
eco@niu.edu