[Code of Federal Regulations] [Title 18, Volume 1] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 18CFR225.3] [Page 694-699] TITLE 18--CONSERVATION OF POWER AND WATER RESOURCES CHAPTER I--FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY PART 225_PRESERVATION OF RECORDS OF NATURAL GAS COMPANIES--Table of Contents Sec. 225.3 Schedule of records and periods of retention. 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 journal entries. 9. Cash books. 10. Voucher registers. 11. Vouchers. Insurance 12. Insurance records. Operations and Maintenance 13. Production--Gas. 14. Transmission and distribution--Gas. 14.1. Underground storage of natural gas. 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 natural gas. 23. Reclassification of natural gas plant account records. 24. Accumulated depreciation and depletion of natural gas 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. 37. Records of receipts and disbursements. Miscellaneous 38. Statistics. 39. Budgets and other forecasts. 40. Records of predecessors companies. 41. Reports to Federal and State regulatory commissions. 42. Advertising. Schedule of Records and Periods of Retention ------------------------------------------------------------------------ Item No. and description Retention period ------------------------------------------------------------------------ Corporate and General 1. 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 natural gas company. 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 transportation or for the memoranda, and revisions purchase, sale or interchange of should be retained for 4 years product. 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. [[Page 695]] (d) Card or book records of For the same periods as contracts, leases, and agreements contracts to which they made that show dates of relate. expirations, 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 natural gas company (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 Management 5. 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 Records 6. 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, summarizations, distributions, and other computations which support journal vouchers and journal entries: (1) Charging plant accounts.... 25 years. See Sec. 225.2(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 Sec. 225.2(g). registers or similar records when used as a source document. 11. Vouchers: (a) Paid and canceled vouchers (1 5 years. See Sec. 225.2(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 Sec. 225.2(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 Sec. 225.2(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. Insurance 12. Insurance records: (a) Records of insurance policies Destroy at option after in force, showing coverage, expiration. premiums paid, and expiration dates. (b) Records of amounts recovered 6 years. See Sec. 225.2(g). from insurance companies in connection with losses and of claims against insurance companies, including reports of losses, and supporting papers. Operations and Maintenance 13. Production--Gas: (a) Recording instrument charts If the measurement data have such as pressure (static and/or not been disputed or adjusted, differential), temperature, destroy after 1 year. specific gravity, heating value, etc. (b) Test of heating value at If the measurement data have stations and outlying points. not been disputed or adjusted, destroy after 1 year. (c) Records of gas produced, out, If the measurement data have and holder stock. not been disputed or adjusted, destroy after 1 year. [[Page 696]] (d) Analysis of (gas produced) If the measurement data have B.T.U. and sulphur content. not been disputed or adjusted, destroy after 1 year. (e) Well records, including 1 year after field or relevant clearing, bailing, shooting etc., production area abandoned records; rock pressure; open flow; production, gas analysts' reports etc. (f) Gas measuring records.......... If the measurement data have not been disputed or adjusted, destroy after 1 year. 14. Transmission and distribution--Gas: (a) Substation and transmission If the measurement data have line log. not been disputed or adjusted, destroy after 1 year. (b) System operator's daily logs If the measurement data have and reports of operation. not been disputed or adjusted, destroy after 1 year. (c) Gas measuring records.......... If the measurement data have not been disputed or adjusted, destroy after 1 year. (d) Transmission line operating If the measurement data have reports. not been disputed or adjusted, destroy after 1 year. (e) Compression operation and If the measurement data have reports. not been disputed or adjusted, destroy after 1 year. (f) Recording instrument charts If the measurement data have such as pressure (static and/or not been disputed or adjusted, differential), temperature, destroy after 1 year. specific heating value, etc. 14.1 Underground storage of natural gas: (a) Well records, reports, and logs 1 year after reservoir, field, which include data relating to or relevant storage area is pressures, injected volumes, abandoned. withdrawn volumes, core analysis, daily volumes of gas injected into and withdrawn from reservoir, cushion, and working gas volumes for each reservoir. (b) Records containing information 1 year after reservoir, field, relating to reservoir gas leakage, or relevant storage area is showing the total gas leakage, and abandoned. recycled gas. (c) Records on back pressure tests 1 year or until superseded. field data. (d) Records on back pressure test 1 year or until superseded. results, gas analysis. 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 natural gas company operations. (c) Summaries of expenditures on 5 years. maintenance and job orders and clearances to operating other accounts (exclusive of plant accounts). Plant and Depreciation 16. Plant ledgers: (a) Ledgers of natural gas 25 years. See Sec. 225.2(g). company's plant accounts including land and other detailed ledgers showing the cost of plant by class. (b) Continuing plant inventory 25 years. See Sec. 225.2(g). ledger, book or card records showing description, location, quantities, cost, etc., of physical units (or items) of natural gas plant owned. 17. Construction work in progress ledgers: (a) Construction work in progress 5 years after clearance to the ledgers. plant account, provided continuing plant inventory records are maintained; otherwise 5 years after plant is retired. (b) Work order sheets to which are 5 years after clearance to the 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; natural gas company's plant otherwise 5 years after plant additions and the entries closing is retired. the work orders to plant in service at completion. (c) Authorizations for expenditures 5 years after clearance to the for additions to natural gas plant account, provided company plant, including memoranda continuing plant inventory showing the detailed estimates of records are maintained; cost, and the bases therefor otherwise 5 years after plant (including original and revised or is retired. subsequent authorizations). (d) Requisitions and registers of 5 years after clearance to the authorizations for natural gas plant account, provided company plant expenditures. continuing plant inventory records are maintained; otherwise 5 years after plant is retired. (e) Completion or performance 5 years after clearance to the reports showing comparison between plant account, provided authorized estimates and actual continuing plant inventory expenditures for natural gas records are maintained; company plant additions. otherwise 5 years after plant is retired. [[Page 697]] (f) Analysis or cost reports 5 years after clearance to the showing quantities of materials plant account, provided used, unit costs, number of man- continuing plant inventory hours etc., in connection with records are maintained; completed construction project. otherwise 5 years after plant is retired. (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. (h) Well-drilling logs and well 1 year after field or well is construction records. abandoned. 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 natural gas company plant accounts for cost of plant retirement. (b) Authorizations for retirement 5 years after plant is retired. of natural gas company plant, including memoranda showing the basis for determination of cost of plant 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 natural gas company 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 Retained until retired or engineering records, drawings, and abandoned. other supporting data for proposed or as-constructed gas 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 natural gas plant: (a) Contracts relating to 6 years after plant is retired acquisition or sale of plant. or sold. (b) The primary records of gas 6 years after plant is retired acreage owned, leased or optioned or sold. excluding deeds and leases but including such records as lease sheets, leasehold cards, and option agreements. 23. Records pertaining to 6 years. reclassification of natural gas 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 gas 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 natural gas plant. Purchases and Stores 25. 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 Sec. 225.2(g). relating to plant construction. [[Page 698]] (2) For other goods or services 6 years. (b) Supporting documents including 6 years. See Sec. 225.2(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 records/ materials and supplies received, ledgers were created. issued, and on hand. 27. Materials and supplies received and 6 years. See Sec. 225.2(g). issued: Records showing the detailed distribution of materials and supplies issued during accounting periods. 28. 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 and 3 years. materials and supplies. Revenue Accounting and Collection 29. Customers' service applications and 4 years after expiration. contracts: Contracts, including amendments for extensions of service, for which contributions are made by customers and others. 30. Rate schedules: General files of 6 years after published rate published rate sheets and schedules of sheets and schedules are natural gas company service (including superseded or no longer used schedules suspended or superseded). to charge for services. 31. Maximum demand, pressure, If the measurement data have temperature, and specific gravity not been disputed or adjusted, charts and demand meter record card. destroy after 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. Tax 34. 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 authorities 5 years after discontinuance of to qualify employee benefit plans. plan. (c) Information returns and 3 years after final tax reports to taxing authorities. liability is determined. Treasury 35. Statements of funds and deposits: (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 fund balance (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; and, (6) End of year fund balance. 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. 37. Records of receipts and disbursements: [[Page 699]] (a) Daily or other periodic Destroy at option after statements of fund receipts or completion of annual audit by disbursements. independent accountants. (b) Records or periodic statements Destroy at option after of outstanding vouchers, checks, completion of annual audit by drafts, etc., issued and not independent accountants. presented. (c) Reports of associates showing Destroy at option after working fund transactions and completion of annual audit by summaries thereof. independent accountants. (d) Reports of revenue collections Destroy at option after by field cashiers, pay stations, completion of annual audit by etc. independent accountants. Miscellaneous 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 natural gas company. 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). ------------------------------------------------------------------------ [Order 617, 65 FR 48161, Aug. 7, 2000; 65 FR 50638, Aug. 21, 2000] [[Page 700]]