Michigan Administrative Code
Department - Licensing and Regulatory Affairs
Public Service Commission
Preservation of Records of Electric, Gas, And Water Utilities
Part 2 - SCHEDULE OF RECORDS AND PERIODS OF RETENTION
Section R. 460.2522 - Journal vouchers and entries; retention periods
Rule 22. The following journal voucher and entry records shall be retained for the periods listed:
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(a) General, departmental, divisional, and petty journal vouchers. |
25 years. |
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(b) Materials and supplies disbursement, labor distribution, and other detail summarization and distribution records that support journal vouchers or journal entries as follows: |
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(i) Charging plant accounts. |
6 years, if accounting adjustments resulting from reclassification and original cost studies have been approved by the regulatory commissions having jurisdiction and if continuing plant inventory records are maintained or unitization of construction costs appear in work orders; otherwise 25 years. For licensed projects, time tickets, and material issued and material returned tickets may be destroyed at option if the basic information contained in the accounts is transcribed to other records and if such other records are retained pursuant to this instruction. Basic information regarding time tickets includes, at a minimum, for the purpose of this instruction, hours worked and the distribution of time to the proper job or account. |
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(ii) Charging all other accounts. |
6 years. |
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(c) Papers forming part of, or necessary to explain, journal vouchers or journal entries, except as covered in subdivision (b) of this rule. |
25 years. |
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(d) Schedules for recurring journal entries. |
Destroy when superseded. |
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(e) Lists of standard journal entry numbers. |
Destroy when superseded. |
