G-PP&E Records Retention

The records retention sub-group of the AAPC G-PP&E task force researched maintaining PP&E records. The research included private sector standards, federal government general records retention guidance, and requirements in the current FASAB standards. The group greatly benefited from research already conducted by agencies. The group also assessed methods of maintaining records—electronically versus on paper.

The group found viable and supported alternatives to the then-current level of documentation required for PP&E assets. It was not a long-term feasible practice for agencies to maintain paper documentation of purchase and payment records for assets that would remain on their books for extended periods and in some cases permanently.

The records retention sub-group was chaired by John Lynskey, National Science Foundation.