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. 460.2563 - Purchase records; retention periods

Universal Citation: MI Admin Code R. 460.2563
Current through Vol. 24-16, September 15, 2024

Rule 63. The following purchase records shall be retained for the periods listed:

(a) Advices or requisitions from storekeepers and others for the purchase of materials, supplies, or services. Destroy at option.
(b) Bids received from vendors in connection with the purchase of materials and supplies. 3 years.
(c) Purchasing department copies of purchase orders and specifications of materials ordered. 3 years.
(d) Contracts for the purchase of materials and supplies:
(i) Contracts for materials used directly in construction. 6 years. (See rule 22(b)(i)).
(ii) Contracts for other materials. 6 years. (See rule 22(b)(ii)).
(e) Purchasing department copies of invoices for materials and supplies. (See rule 24(l)(b) for original invoices). Destroy at option.
(f) Registers or similar records of invoices. (g) Price records or indexes of purchases. 3 years. Destroy at option.
(h) Advices from vendors that acknowledge receipt of orders for materials and supplies, notices of shipment, packing slips, and copies of bills of lading. Destroy at option.
(i) Receipts or delivery tickets issued for materials and supplies received in installments and subsequently surrendered with, and in support of, invoices or bills that cover complete purchases. Destroy at option.
(j) Demurrage or car records that show Destroy at option.
periods that freight cars are held on company sidings.
(k) Copies of notices to vendors for materials and supplies returned for credit and repair. Destroy at option.
(l) Lists or records of invoices transmitted to or from storekeepers. Destroy at option.
(m) Records and reports used for checking and tracing materials and supplies covered by invoices provided for in subdivision (e) of this rule. Destroy at option.

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