Records Retention Policy

Our records retention policy outlines the procedures for maintaining and disposing of MIWIBO Foundation Uganda records in accordance with legal and regulatory requirements.

These policies and procedures help establish a robust framework that promotes ethical conduct, and effective and efficient management practices, ultimately furthering MIWIBO Foundation Uganda mission and benefiting its stakeholders.

Records retention policy for MIWIBO Foundation Uganda

6.9.1 Purpose and Scope

The purpose of this policy is to establish guidelines for the retention of organizational records in a manner that ensures compliance with legal and regulatory requirements, protection of the organization's legal and financial interests, and effective and efficient use of storage space.

This policy applies to all records, regardless of format, created and maintained by MIWIBO Foundation Uganda.

6.9.2 Record Categories

Records may be divided into the following categories:

6.9.2.1 Financial Records

Includes records related to financial transactions, such as financial statements, bank statements, purchase and payment records, invoices, credit memos, and cancelled cheques.

6.9.2.2 Legal Records

Includes records related to legal transactions, such as contracts, leases, deeds, agreements, and other legal documents.

6.9.2.3 Administrative Records

Includes records of the organization's operations, such as reports, correspondence, minutes of meetings, plans, and policies.

6.9.2.4 Personnel Records

Includes records related to the organization's employees, such as personnel files, employment applications, resumes, and performance evaluations.

6.9.2.5 Fundraising Records

Includes records related to fundraising activities, such as donor lists, donation records, fundraising plans, and receipts.

6.9.3 Records Retention Schedule

a. Financial Records

Keep for seven years after the fiscal year end, unless required by law to keep for a longer period.

b. Legal Records

Keep indefinitely.

c. Administrative Records

Keep for three years after the date of creation.

d. Personnel Records

Keep for seven years after the date of creation or termination.

e. Fundraising Records

Keep for seven years after the fiscal year end.

6.9.4 Disposal of Records

Records shall be disposed of in a secure manner, such as shredding or electronic deletion. Disposal of records shall be in compliance with legal requirements and organizational policies.

6.9.5 Exceptions

Exceptions to this policy may be made for specific records with unique retention requirements, such as those required for legal proceedings or pending audits.

6.9.6 Review and Update

This policy shall be reviewed annually and updated as needed to ensure compliance with legal and regulatory requirements and organizational needs.