Records Management Program at MIT
Institute Archives and Special Collections

Records Retention Schedules

Financial Data Retention Schedules

Technology Licensing Office Records Retention Schedule

A records retention schedule is a document created to

• describe the records and indicate how they should be handled after they are no longer actively used.
• establish official retention periods and ensure timely disposition of the records according to their legal, financial, and historical value.
• ensure compliance with legal, financial, and other regulatory requirements of the organization.

The Institute records retention schedules remain in the custody of the Records Management Program, administered by the Institute Archives and Special Collections.

The first records retention schedules at MIT were established in the late 1970s and early 1980s. In 2002, the Financial Data Retention Project, initiated by the Institute Auditor to improve financial record-keeping practices at MIT, led to a comprehensive survey of the financial records created or received by the Controller’s Accounting Office. A new set of financial data retention schedules was established and approved by the MIT administration (coming soon). Efforts are currently under way to update and/or create retention schedules for other types of Institute records (personnel, student, academic).

Please contact us for advice on how to create or update record retention schedules for your office or department.

Last modified 8/11/06