Required Records and Retention Schedule

The starting date for the retention period depends on the type of records:

Type of Records Records Retention Period:
Unfunded Sponsored Project Proposals DSP shall retain proposals for 15 months from the month the proposal was submitted, after the 15th month these proposal files are considered obsolete and have no further administrative value, and shall be destroyed, except those where DSP received a denial notification. For those proposals where DSP received a denial notification, DSP shall retain the proposal file for 1-year from receipt of denial notification. After which the proposal file shall be destroyed.
General records Retain for three years from date of submission of the final or annual expenditure report.
Equipment Retain for three years from date of final disposition of the equipment (i.e., transfer, records replacement, sale, or junking of the item).
Cost allocation plan and indirect cost records Retain for three years from the date of submission of plan or for plans which are prepared and retained by the grantee, with the close of the fiscal year.
Income records Retain for three years from the date of the end of the grantee’s fiscal year in which the income was used.
Royalties and other Retain for three years from the date of the end of the grantee’s fiscal year in which the program income earned income is earned after completion of grant.