Financial Records Retention/Disposition Schedule 3-42.1

School Board of the City of Virginia Beach
Regulation 3-42.1


Financial Records Retention and Disposition Schedule

School Division employees shall retain and dispose of financial records in accordance with the regulations concerning financial records retention and disposition as set forth in law or regulation.

The Library of Virginia’s General Schedule No. GS-02, Fiscal Records is the continuing authority under the provisions of the Virginia Public Records Act for the retention and disposition of the records as stated and supersedes previously-approved applicable schedules. General Schedules and related records management forms are issued by the Library of Virginia (LVA).

Unless otherwise noted, disposal authorization for records is listed in Code § 58.1-3129. The Code states, "The treasurer may cause records to be destroyed after audit, with the consent of the Auditor of Public Accounts and the State Librarian, in accordance with retention regulations for records maintained by the treasurer established under the Virginia Public Records Act."

Approval for the destruction of a record series noted in GS-2, Fiscal Records must be requested using a Certificate of Records Destruction (RM-3 Form). RM-3 Forms are available to employees on the School Division’s Intranet site for Records Management. Employees may retain duplicate or departmental copies of fiscal records which are not subject to audit for as long as administratively useful and then destroy without the submission of a RM-3 Form.

Library of Virginia, Records Management Division, General Schedule No. GS-02, Fiscal Records.

Code of Virginia § 22.1-89.2, as amended. Financial records retention and disposition schedule.

Code of Virginia § 42.1-76, et seq., as amended. Virginia Public Records Act.

Approved by Superintendent: August 14, 1993
Revised by Superintendent: July 2, 2002
Revised by Superintendent: September 11, 2014