18 C.F.R. § 125.3 Schedule of records and periods of retention.
Title 18 - Conservation of Power and Water Resources
Table of Contents Corporate and General 1. Reports to stockholders. 2. Organizational documents. 3. Contracts including amendments and agreements. 4. Accountants' and auditors' reports. Information Technology Management 5. Automatic data processing records. General Accounting Records 6. General and subsidiary ledgers. 7. Journals: General and subsidiary. 8. Journal vouchers and entries. 9. Cash books. 10. Voucher registers. 11. Vouchers. Insurance 12. Insurance records. Operations and Maintenance 13.1. Production—Public utilities and licensees (less nuclear). 13.2 Production—Nuclear. 14. Transmission and distribution—Public utilities and licensees. 15. Maintenance work orders and job orders. Plant and Depreciation 16. Plant ledgers. 17. Construction work in progress ledgers. 18. Retirement work in progress ledgers. 19. Summary sheets. 20. Appraisals and valuations. 21. Engineering records. 22. Contracts relating to utility plant. 23. Reclassification of utility plant account records. 24. Accumulated depreciation and depletion of utility plant account records. Purchase and Stores 25. Procurement. 26. Material ledgers. 27. Materials and supplies received and issued. 28. Records of sales of scrap and materials and supplies. Revenue Accounting and Collection 29. Customers' service applications and contracts. 30. Rate schedules. 31. Maximum demand and demand meter record cards. 32. Miscellaneous billing data. 33. Revenue summaries. Tax 34. Tax records. Treasury 35. Statements of funds and deposits. 36. Records of deposits with banks and others. Miscellaneous 37. [Reserved.] 38. Statistics. 39. Budgets and other forecasts. 40. Records of predecessors companies. 41. Reports to Federal and State regulatory commissions. 42. Advertising. [Order 617, 65 FR 48156, Aug. 7, 2000; 65 FR 50638, Aug. 21, 2000]
Title 18: Conservation of Power and Water Resources
PART 125—PRESERVATION OF RECORDS OF PUBLIC UTILITIES AND LICENSEES
§ 125.3 Schedule of records and periods of retention.
Schedule of Records and Periods of Retention------------------------------------------------------------------------ Item No. and description Retention period------------------------------------------------------------------------ Corporate and General1. Reports to stockholders: Annual 5 years. reports or statements to stockholders.2. Organizational documents: (a) Minute books of stockholders', 5 years or termination of the directors', and directors' corporation's existence, committee meetings. whichever occurs first. (b) Titles, franchises, and 6 years after final non- licenses: Copies of formal orders appealable order. of regulatory commissions served upon the utility.3. Contracts, including amendments and agreements (except contracts provided for elsewhere): (a) Service contracts, such as for All contracts, related management, accounting, and memoranda, and revisions financial services. should be retained for 4 years after expiration or until the conclusion of any contract disputes pertaining to such contracts, whichever is later. (b) Contracts with others for All contracts, related transmission or the purchase, sale memoranda, and revisions or interchange of product. should be retained for 4 years after expiration or until the conclusion of any contract disputes or governmental proceedings pertaining to such contracts, whichever is later. (c) Memoranda essential to For the same periods as clarifying or explaining contracts to which they provisions of contracts listed relate. above, including requests for discounts. (d) Card or book records of For the same periods as contracts, leases, and agreements contracts to which they made, showing dates of expirations relate. and of renewals, memoranda of receipts, and payments under such contracts.4. Accountants' and auditors' reports: (a) Reports of examinations and 5 years after the date of the audits by accountants and auditors report. not in the regular employ of the utility (such as reports of public accounting firms and commission accountants). (b) Internal audit reports and 5 years after the date of the working papers. report. Information Technology Management5. Automatic data processing records Retain as long as it represents (retain original source data used as an active viable program or input for data processing and data for periods prescribed for processing report printouts for the related output data, whichever applicable periods prescribed is shorter. elsewhere in the schedule): Software program documentation and revisions thereto. General Accounting Records6. General and subsidiary ledgers: (a) Ledgers: (1) General ledgers............ 10 years. (2) Ledgers subsidiary or 10 years. auxiliary to general ledgers except ledgers provided for elsewhere. (b) Indexes: (1) Indexes to general ledgers. 10 years. (2) Indexes to subsidiary 10 years. ledgers except ledgers provided for elsewhere. (c) Trial balance sheets of general 2 years. and subsidiary ledgers.7. Journals: General and subsidiary.... 10 years.8. Journal vouchers and journal entries including supporting detail: (a) Journal vouchers and journal 10 years. entries. (b) Analyses, summarization, distributions, and other computations which support journal vouchers and journal entries: (1) Charging plant accounts.... 25 years. See § 125.2(g). (2) Charging all other accounts 6 years. 9. Cash books: General and subsidiary 5 years after close of fiscal or auxiliary books. year.10. Voucher registers: Voucher 5 years. See § 125.2(g). registers or similar records when used as a source document.11. Vouchers: (a) Paid and canceled vouchers (one 5 years. See § 125.2(g). copy-analysis sheets showing detailed distribution of charges on individual vouchers and other supporting papers). (b) Original bills and invoices for 5 years. See § 125.2(g). materials, services, etc., paid by vouchers. (c) Paid checks and receipts for 5 years. payments of specific vouchers. (d) Authorization for the payment 5 years. See § 125.2(g). of specific vouchers. (e) Lists of unaudited bills Destroy at option. (accounts payable), list of vouchers transmitted, and memoranda regarding changes in audited bills. (f) Voucher indexes................ Destroy at option. Insurance12. Insurance records: (a) Records of insurance policies Destroy at option after in force, showing coverage, expiration of such policies. premiums paid, and expiration dates. (b) Records of amounts recovered 6 years. See § 125.2(g). from insurance companies in connection with losses and of claims against insurance companies, including reports of losses, and supporting papers. Operations and Maintenance13.1 Production_Public utilities and licensees (less Nuclear): (a) Boiler-tube failure report..... 3 years. (b) Generation and output logs with 3 years. supporting data:. (c) Station and system generation reports and clearance logs: (1) Hydro-electric............. 25 years. See § 125.2(g). (2) Steam and others........... 6 years. See § 125.2(g). (d) Generating high-tension and low- 3 years. tension load records. (e) Load curves, temperature logs, 3 years. coal, and water logs. (f) Gauge-reading reports.......... 2 years, except river flow data collected in connection with hydro operation must be retained for life of corporation. (g) Recording instrumentation 1 year, except where the basic charts. chart information is transferred to another record, the charts need only be retained 6 months provided the record containing the basic data is retained 1 year.13.2 Production_Nuclear: For informational purposes, refer to the document retention requirements of the Nuclear Regulatory Commission.14. Transmission and distribution_Public utilities and licensees. (a) Substation and transmission 3 years. line logs. (b) System operator's daily logs 3 years. and reports of operation. (c) Transformer history records.... For life of transformer. (d) Records of transformer Destroy at option. inspections, oil tests, etc.15. Maintenance work orders and job orders: (a) Authorizations for expenditures 5 years. for maintenance work to be covered by work orders, including memoranda showing the estimates of costs to be incurred. (b) Work order sheets to which are 5 years. posted in detail the entries for labor, material, and other charges in connection with maintenance, and other work pertaining to utility operations. (c) Summaries of expenditures on 5 years. maintenance and job orders and clearances to operating other accounts (exclusive of plant accounts). Plant and Depreciation16. Plant ledgers: (a) Ledgers of utility plant 25 years. See § 125.2(g). accounts including land and other detailed ledgers showing the cost of utility plant by classes. (b) Continuing plant inventory 25 years. See § 125.2(g). ledger, book or card records showing description, location, quantities, cost, etc., of physical units (or items) of utility plant owned.17. Construction work in progress ledgers, work orders, and supplemental records: (a) Construction work in progress 5 years after clearance to ledgers. plant account, provided continuing plant inventory records are maintained; otherwise 5 years after plant is retired. (b) Work orders sheets to which are 5 years after clearance to posted in summary form or in plant account, provided detail the entries for labor, continuing plant inventory materials, and other charges for records are maintained; utility plant additions and the otherwise 5 years after plant entries closing the work orders to is retired. utility plant in service at completion. (c) Authorizations for expenditures 5 years after clearance to for additions to utility plant, plant account except where including memoranda showing the there are ongoing Commission detailed estimates of cost, and proceedings. the bases therefor (including original and revised or subsequent authorizations). (d) Requisitions and registers of 5 years after clearance to authorizations for utility plant plant account except where expenditures. there are ongoing Commission proceedings. (e) Completion or performance 5 years after clearance to reports showing comparison between plant account except where authorized estimates and actual there are ongoing Commission expenditures for utility plant proceedings. additions. (f) Analysis or cost reports 5 years after clearance to showing quantities of materials plant account except where used, unit costs, number of man- there are ongoing Commission hours etc., in connection with proceedings. completed construction project. (g) Records and reports pertaining Destroy at option. to progress of construction work, the order in which jobs are to be completed, and similar records which do not form a basis of entries to the accounts.18. Retirement work in progress ledgers, work orders, and supplemental records: (a) Work order sheets to which are 5 years after plant is retired. posted the entries for removal costs, materials recovered, and credits to utility plant accounts for cost of plant retirement. (b) Authorizations for retirement 5 years after plant is retired. of utility plant, including memoranda showing the basis for determination to be retired and estimates of salvage and removal costs. (c) Registers of retirement work... 5 years.19. Summary sheets, distribution 5 years. sheets, reports, statements, and papers directly supporting debits and credits to utility plant accounts not covered by construction or retirement work orders and their supporting records.20. Appraisals and valuations: (a) Appraisals and valuations made 3 years after appraisal. by the company of its properties or investments or of the properties or investments of any associated companies. (Includes all records essential thereto.). (b) Determinations of amounts by which properties or investments of the company or any of its associated companies will be either written up or written down as a result of: (1) Mergers or acquisitions.... 10 years after completion of transaction or as ordered by the Commission. (2) Asset impairments.......... 10 years after recognition of asset impairment. (3) Other bases................ 10 years after the asset was written up or down.21. The original or reproduction of Retain until retired. engineering records, drawings, and other supporting data for proposed or as-constructed utility facilities: Maps, diagrams, profiles, photographs, field survey notes, plot plan, detail drawings, records of engineering studies, and similar records showing the location of proposed or as- constructed facilities.22. Contracts relating to utility plant: (a) Contracts relating to 6 years after plant is retired acquisition or sale of plant. or sold. (b) Contracts and other agreements 6 years after plant is retired relating to services performed in or sold. connection with construction of utility plant (including contracts for the construction of plant by others for the utility and for supervision and engineering relating to construction work).23. Records pertaining to 6 years. reclassification of utility plant accounts to conform to prescribed systems of accounts including supporting papers showing the bases for such reclassifications.24. Records of accumulated provisions for depreciation and depletion of utility plant and supporting computation of expense: (a) Detailed records or analysis 25 years. sheets segregating the accumulated depreciation according to functional classification of plant. (b) Records reflecting the service 25 years. life of property and the percentage of salvage and cost of removal for property retired from each account for depreciable utility plant. Purchase and Stores25. Procurement: (a) Agreements entered into for the acquisition of goods or the performance of services. Includes all forms of agreements not specifically set forth in Subsection 7 such as but not limited to: Letters of intent, exchange of correspondence, master agreements, term contracts, rental agreements, and the various types of purchase orders: (1) For goods or services 6 years. See § 125.2(g). relating to plant construction. (2) For other goods or services 6 years. (b) Supporting documents including 6 years. See § 125.2(g). accepted and unaccepted bids or proposals (summaries of unaccepted bids or proposals may be kept in lieu of originals) evidencing all relevant elements of the procurement.26. Material ledgers: Ledger sheets of 6 years after the date the materials and supplies received, records/ledgers were created. issued, and on hand27. Materials and supplies received and 6 years. See § 125.2(g). issued: Records showing the detailed distribution of materials and supplies issued during accounting periods28. Records of sales of scrap and materials and supplies: (a) Authorization for sale of scrap 3 years. and materials and supplies. (b) Contracts for sale of scrap 3 years. materials and supplies. Revenue Accounting and Collecting29. Customers' service applications and 4 years after expiration. contracts: Contracts, including amendments for extensions of service, for which contributions are made by customers and others30. Rate schedules: General files of 6 years after published rate published rate sheets and schedules of sheets and schedules are utility service. Including schedules superseded or no longer used suspended or superseded to charge for utility service.31. Maximum demand, and demand meter 1 year, except where the basic record cards chart information is transferred to another record the charts need only be retained 6 months, provided the basic data is retained 1 year.32. Miscellaneous billing data: Billing Destroy at option. department's copies of contracts with customers (other than contracts in general files)33. Revenue summaries: Summaries of 5 years. monthly operating revenues according to classes of service. Including summaries of forfeited discounts and penalties Tax34. Tax records: (a) Copies of tax returns and supporting schedules filed with taxing authorities, supporting working papers, records of appeals of tax bills, and receipts for payment. See Subsection 11(b) for vouchers evidencing disbursements: (1) Income tax returns......... 2 years after final tax liability is determined. (2) Property tax returns....... 2 years after final tax liability is determined. (3) Sales and other use taxes.. 2 years. (4) Other taxes................ 2 years after final tax liability is determined. (5) Agreements between 2 years after final tax associate companies as to liability is determined. allocation of consolidated income taxes. (6) Schedule of allocation of 2 years after final tax consolidated Federal income liability is determined. taxes among associate companies. (b) Filings with taxing 5 years after discontinuance of authorities to qualify plan. employee benefit plans. (c) Information returns and 3 years after final tax reports to taxing authorities. liability is determined. Treasury35. Statements of funds and deposits... For nuclear decommissioning funds, retain records for all items listed for 3 years after final decommissioning is completed. If amortization reserve funds related to licensed projects are maintained, retain until the Commission makes a final determination of the disposition of amortization reserves. (a) Statements of periodic deposits Retain records for the most with fund administrators or recent 3 years. trustees. (b) Statements of periodic Retain records for the most withdrawals from fund. recent 3 years. (c) Statements prepared by fund Retain records until the fund administrator or trustees of fund is dissolved or terminated. activity including: (1) Beginning of the year balance of fund; (2) Deposits with the fund; (3) Acquisition of investments held by the fund; (4) Disposition of investments held by the fund; (5) Disbursements from the fund, including party to whom disbursement was made; (6) End of year balance of fund.36. Records of deposits with banks and others: (a) Statements from depositories Destroy at option after showing the details of funds completion of audit by received, disbursed, transferred, independent accountants. and balances on deposit. (b) Check stubs, registers, or 3 years. other records of checks issued. Miscellaneous37. [Reserved]38. Statistics: Financial, operating 5 years. and statistical reports used for internal administrative or operating purposes.39. Budgets and other forecasts 3 years. (prepared for internal administrative or operating purposes) of estimated future income, receipts and expenditures in connection with financing, construction and operations, including acquisitions and disposals of properties or investments.40. Records of predecessor companies... Retain consistent with the requirements for the same types of records of the utility.41. Reports to Federal and State 5 years. regulatory commissions including annual financial, operating and statistical reports.42. Advertising: Copies of 2 years. advertisements by or for the company on behalf of itself or any associate company in newspapers, magazines, and other publications, including costs and other records relevant thereto (excluding advertising of appliances, employment opportunities, routine notices, and invitations for bids all of which may be destroyed at option).------------------------------------------------------------------------
