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GENERAL RETENTION SCHEDULE #24

GENERAL RETENTION SCHEDULE #24 2025

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The document outlines the General Retention Schedule #24 for City and Village Clerks in Michigan, detailing the requirements for public records retention as mandated by state law. It defines public records, explains the necessity of approved Retention and Disposal Schedules, and distinguishes between general and agency-specific schedules. The document provides specific retention periods for various types of records, including administrative files, meeting records, licensing applications, and financial documents. It emphasizes the importance of proper record maintenance across different formats and outlines procedures for suspending destruction of records in response to FOIA requests or legal actions.

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What are the two types of retention schedules?

There are two types of record retention schedules that you can use for your organization: Continuing and One-Time Schedules. You should choose the schedule that best fits your companys needs based on how documents are produced and maintained over time.

What is the IRS retention schedule for records?

Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.

What is retained schedule?

The retention schedule is a document that sets out how long categories of records (rather than individual documents, although there are some exceptions) should be kept, and what should happen to them when they are no longer active.

What is the retention schedule for finra?

In addition, FINRA Rule 4511 requires firms to preserve for a period of at least six years those FINRA books and records for which there is no specified retention period under the FINRA rules or applicable Exchange Act rules.

What are examples of retention period?

Personnel records Type of recordRetention period Occupational Safety and Health Administration (OSHA) logs 6 years Personnel files (from date of termination) 4 years Employment eligibility verification (I-9 Form) 3 years Union agreements and individual employee contracts (from date of termination) 3 years3 more rows

What is the meaning of retention schedule?

A retention schedule is a list of the types of records (record series) created, received, and used by an institution along with information on how long to keep them and when to delete them.

What does retention period mean?

The term retention period is closely linked to the archiving of documents and defines which documents or which types of documents must be kept in the company and for how long. More precisely, retention periods describe which legal requirements exist for archiving certain business documents.

What is the retention period of a schedule?

The retention periods on the Schedule specify how long records need to be retained either in academic, financial or calendar years starting from a trigger point. The Schedule is structured so that records become due for a review at the end of the academic/financial year.

GENERAL RETENTION SCHEDULE #24 2025

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