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ITS-0230 Asset Management: Disposition

Description

 Consists of records relating to the decommissioning of IT assets through sale to students, faculty, staff or another organization. Includes receipts, agreements, correspondence relating to the sale.

Retention Trigger

 Disposition of asset

Retention

 Trigger + 7 years

Responsible Unit(s)

 IT Services

Source

 IT Services, purchaser

Records System

 Banner, Paper

Citations

 Income Tax Act, R.S.C. 1985, c.1 (5th Supp.) s.230 (4)(b)

Record Authority

 Associate Provost

Disposition

 Secure destruction

Records Arising from Activity
  • Receipts
  • Transaction and payment processing
  • Records of setting up sales
  • Learning Tool Transfer Agreement (Schedule C)

Retention Rationale

 The Income Tax Act requires that books and records be kept until the expiration of six years from the end of the last taxation year.

Personal Information

 Yes

Vital Record

 No

Protection

 Medium