Financial Records

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
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embleyj
New Member
Posts: 1
Joined: Thu Mar 15, 2018 2:07 pm

Financial Records

#1

Post by embleyj »

I know that the LDS Church is considered non-profit, so as far as keeping and storing financial records go, how many years must they be kept?
russellhltn
Community Administrator
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Joined: Sat Jan 20, 2007 2:53 pm
Location: U.S.

Re: Financial Records

#2

Post by russellhltn »

It depends on the country. For the US, it's 3 years plus current. As as of the date of this post, anything 2014 or earlier can be securely disposed of.

I'm not seeing a resource that explains the retention period for other countries.

That "securely" part can be an issue. Simply throwing them away is not acceptable, and the office shredder is usually not up task of taking on a full year of donations and expenses.
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davesudweeks
Senior Member
Posts: 2242
Joined: Sun May 09, 2010 9:16 pm
Location: Oklahoma, USA

Re: Financial Records

#3

Post by davesudweeks »

russellhltn wrote:That "securely" part can be an issue. Simply throwing them away is not acceptable, and the office shredder is usually not up task of taking on a full year of donations and expenses.
FWIW, we have used 2 methods:
1. A counselor (since released) had a burn barrel in his back yard. We would take the records there and have a burn party...
2. Now we use the office shredder - it is old and slow but built like a tank (I'll probably die before it does, LOL). It works well, but does take time (we usually divide the shred sessions up and shred a couple of months-worth at a time over several weeks).
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