Virtually all functional areas within Year Up, Inc. ("Year Up") generate corporate records. Corporate records include all documents and records of any kind (whether paper or electronic) created in the ordinary course of conducting Year Up’s business, including records maintained in individual offices or at any other off-site locations. A record may be as obvious as a memorandum, an email, a contract or a student file, or something not as obvious, such as a computerized desk calendar, an appointment book or an expense record.
The law requires Year Up to maintain certain types of corporate records, usually for a specified period of time. Failure to retain those records for those minimum periods of time could subject Year Up and/or its employees to penalties and fines, cause the loss of rights, impede with a potential investigation, spoil potential evidence in a lawsuit, or seriously disadvantage Year Up in litigation. The proper identification, retention, protection, retrieval and destruction of the large amounts of records continually generated by Year Up is therefore of primary importance.
The purpose of this Record Retention and Security Policy (the “Policy”) is to, among other things:
- Provide specific guidelines for record management and retention.
- Facilitate compliance with legal and regulatory obligations.
- Reduce storage costs and increase efficiency.
- Provide for easier and more reliable retrieval of current information or important archives.
- Provide for the proper storage and handling of secure records.
- Provide a more accurate and reliable record of Year Up’s actions and decisions.
You can read the Document Retention Policy in its entirety, HERE