WHEREAS, there are changes to the retention schedule necessary to define the volume of records created and received by the Finance Department; and

WHEREAS, beginning in 1999 National Bank of Alaska will no longer return canceled checks to the City of Homer but will retain the information on microfilm; and

WHEREAS, canceled checks, check stubs or copies are currently retained for a total of seven years and the Finance Department has recommended continuing this retention schedule for pre 1999 records but eliminating it for canceled checks post 12/32/98 beginning in 1999; and

WHEREAS, employee earning records and payroll deduction records are currently retained for five and seven years respectively and contain similar information; and

WHEREAS, Payroll has recommended that these records be retained for a total of ten years to coincide with the ten year retention of FICA and Unemployment insurance reports; and

WHEREAS, the Finance Department retains support records for contracts upon completion of the source agency audit, and City projects are audited yearly but State and Federal audits are often sporadic; and

WHEREAS, City project support records should be destroyed after the yearly audit, and State and Federal project support records should be retained for ten years or after source audit is completed.

NOW, THEREFORE, BE IT RESOLVED by the Homer City Council of the City of Homer, Alaska, that the Records Retention Schedule for the City of Homer is revised and takes effect upon its adoption and supersedes all other retention schedules.

PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF HOMER, ALASKA, this 11th day of January, 1999.

City of Homer

Jack Cushing Mayor

ATTEST:

Juli J. Martin, Deputy City Clerk

Fiscal note not applicable.