STEP 1
Physical financial records should be retained for at least three years plus the current year. Local laws may require longer retention periods.
STEP 2
Protect all information against unauthorized access, change, destruction or disclosure. Keep all physical financial information related to donations and expenses and reimbursements in a locked file cabinet in the clerk’s office. Use caution with electronic information. Never share your passwords with others, never save your password in the browser on the church’s computer or any other non-personally owned computer or device and make sure to log out completely when going away from your computer.
STEP 3
After recording the expenses and reimbursements, file the following documents:
- The top part of each check.
- The signed and approved reimbursement request form and attached receipts.
LCR Or Member Tools Procedures
After recording the expenses and reimbursements and uploading receipts and forms into LCR or Member Tools, expense documents may be destroyed. If expense documents are not destroyed, retain them in a secure, locked location for the required retention period as outlined above. These documents must only be available to the appropriate leader(s) and clerk(s).
Policy and Principles
Each stake and ward should keep current, accurate financial records. These records help stake presidents and bishops account for, and protect, sacred Church funds. Accurate records are also necessary for preparing budgets, managing the budget allowance, and providing information to members on their financial contributions.
For information about the use and retention of records and reports, clerks should refer to instructions from Church headquarters or the assigned administrative office. Physical financial records should be retained for at least three years plus the current year. Local laws may require longer retention periods. Electronic files uploaded into LCR are automatically saved.
LCR OR MEMBER TOOLS ONLY
Electronic financial records uploaded into LCR or Member Tools are already saved, so there is no need to retain receipts after uploading into LCR or Member Tools.
If a unit chooses to retain a physical copy of the above LCR or Member Tools financial records that have been uploaded, the following steps apply.