Item

DESTRUCTION OF RECORDS

A. ADMINISTRATIVE AND CORPORATE

Record titles and descriptions

1 Incorporation and reorganization records:
(a) Franchises, certificates, or permits from regulatory bodies authorizing
construction, extensions, and operations; deeds and other titles.

(b) Other records, documents, and files pertaining to the incorporation and
reorganization of pipe line companies.

2 Registered agents: Documents and files pertaining to the appointment of
registered agents in States in which the carrier is authorized to do
business.

3

4

Minute Books: Minute books of directors', executive committees', stock-
holders', and other corporate meetings.

Authorizations for security issues: Copies of applications to and authoriza-
tions from regulating_bodies for the issuance of stocks, bonds and other
securities. (See item E-3d.)

5 Voting securities:

6

(a) Proxies of holders of voting securities.

(b) Lists of holders of voting securities presented at stockholders' meetings.
Contracts and agreements:

(a) Card or book records of contracts, leases, and agreements made, and
of expirations, and of renewals.

(b) Power, fuel, water, and other utility contracts and agreements.....

(c) Contracts and agreements for use of communication systems..
(d) Rental agreements and leases of property and equipment, other than
communication systems, land, and rights-of-way (see items A-6c,
G-1, and G-2), by or from carrier.

(e) Contracts and agreements relating to maintenance of machines, equip-
ment, and other facilities.

(1) Contracts, leases, and agreements not provided for in items A-6h
through A-6e, B-1i, B-1], F-2b, G-1a, G-1b, G-1c, G-2a, G-2b, H-1f,
and I-2c.

7 Fidelity bonds: Records and files of fidelity bonds of employees.....
Communications code and cipher books: Code and cipher books for conven-
ience of transmitting information and data but not necessary for under-
standing of carrier's official records. (See item D-13(a).)

8

(a) Capital stock ledger..

(b) Capital stock certificates, records of or stubs of.

NOTE: If the information shown on the stubs is recorded in 10-year records, the stubs are required to be retained only for a period of 3 years.

(c) Stock transfer registers or journals...

(d) Bills of sale, correspondence, or memoranda concerning transfer o 1
capital stock.

(e) Capital stock subscription notices and requests for allotment.

(f) Canceled capital stock certificates. (See item 3.)

(g) Stockholder's signature cards....

(h) Orders from stockholders to pay dividends to others.

(1) Receipts for capital stock certificates...

(J) Dividend lists of stockholders....

(k) Contracts and correspondence relating to treasury stock.

(1) Escrow agreements for capital stock held in escrow..

2 Bond records:

3

4

(a) Registered bond ledgers and journals..
(b) Records or stubs of bonds...

NOTE: If the information shown on the stubs is recorded in perma-
nent records, the stubs are required to be retained for a period of 3 years.
(c) Bills of sale, correspondence, or memoranda concerning transfer of
registered bonds.

(d) Records of interest coupons paid and unpaid..-

(e) Funded debt subscription notices and requests for allotments.

(1) Canceled bonds, paid interest coupons, and unissued bonds. (See
item 3.)

Retired securities: Stock certificates, bonds, notes, interest coupons, re-
ceiver's certificates, and temporary certificates taken up and canceled.
Records of securities owned:

(a) Records of outside or affiliated companies' securities owned, whether
in treasury or with custodians.

(b) Records of Government and commercial bills and notes owned,
whether in treasury or with custodians.

7

8

9

(a) General cash books.

(b) Auxiliary cash books.

NOTE: If any receipts or payments are entered in the aggregate in the general cash book and are detailed only on loose sheets, such loose sheets constitute an auxiliary cash book.

Statements of funds and deposits:

10 years.

6 years.

(a) Statements and summaries of cash balances on hand and with depos- 3 years.
itaries.

(b) Authorities for and statements of transfer of funds from one depositary
to another.

(d) Duplicate deposit slips..........

(e) Debit and credit slips reseived from depositaries...

(f) Canceled checks and drafts (other than payroll checks. (See items
F-le and F-11.)

(g) Correspondence and memoranda relating to endorsements, issuance of
duplicates, forgeries, stoppage of payment, missing signatures, and
erroneous dating or preparation of checks or drafts.

(h) Copies of check signature authorizations filed with depositaries.....
(1) Statement of reconciliation of accounts with depositaries, showing out-
standing checks and drafts issued but not paid.

(j) Statements of funds impounded in closed banks or other depositaries...
(k) Correspondence, claims, and memoranda relating to funds impounded
in closed banks or other depositaries.

Records of cash receipts and disbursements:

Do.

Do.

3 years.

Do.

Do.

Do.

Do.

Do.

Do.

3 years after cancellation of authorization.

3 years.

3 years after liquidation of
depositary.
Do.

(a) Daily statements or memoranda detailing cash receipts and disburse- 3 years.
ments which are not detailed in (but not material to) the general or
auxiliary cash books.

(b) Daily statements or memoranda detailing cash receipts and disburse-
ments which are detailed in general or auxiliary cash books.

(c) Periodical statistical statements of receipts and disbursements of cash

showing number of checks, drafts, etc., issued.

(d) Cash remittance reports of employee-custodians.

(e) Requisitions on parent or holding company for cash.

(f) Daily or other periodical statements or memoranda detailing sources
of receipts of cash transferred to other departments of the carrier or
to its parent company.

1

2

3

C. GENERAL AND FINANCIAL REPORTS AND STATEMENTS

Annual reports: Annual financial statements to stockholders, balance sheets,
income statements, and supporting detail statements of the condition of
business at the close of the fiscal period.

Monthly, quarterly, and semiannual reports:

10 years.

(a) Financial statements, cost statements, income statements, operating 4 years.
reports of primary and auxiliary operations, period comparisons, and
all other statements rendered the management showing condition of
business.

Do.

(b) Monthly or other periodical statements of oil and oil products transac-
tions expressed in terms of barrels or other units of measure.
Incidental reports: Miscellaneous statistical reports, special reports of indi- Optional.
vidual accounts or operations, statements, and summaries requested by the
management for incidental supervisory purposes and which are not entered
into the accounting records of the carrier.

D. FINANCIAL ACCOUNTING

Whether the carrier's accounting system is conducted by bookkeeping ma-
chine, tabulating machine, or other data-processing equipment, or by man-
ual method, in whole or in part; whether the record is kept in bound books,
loose leaf books, run sheets, loose leaf files, card or ticket files, or data-proc-
essing storage devices, the record corresponding to the following phrase-
ology is intended.

Item

DESTRUCTION OF RECORDS-Continued

D. FINANCIAL ACCOUNTING-Continued

Record titles and descriptions

Period to be retained

1

2

3

4

Ledgers:

(a) General and auxiliary ledgers and indexes thereto..

(b) Ledgers of detail transactions in receivable, payable, and deferred ac-
counts; location or other subdivisions of revenue and expense ac-
counts and similar subsidiary details not included in item D-la
above.
Journals: General and auxiliary journals, combination journals and voucher
registers, and voucher registers.
Clearing account records: Records of costs of operations incidental or sub-
sidiary to pipe line operations such as automotive transportation, camps,
communication systems, roads, shop, and storehouse operations which
are apportioned or allocated to the major operations of the carrier accord-
ing to the use made of the facilities, including supporting memoranda.
Vouchers, cash and journal: Vouchers representing acknowledgments of
cash received from whatever source, receipts for cash paid out for whatever
purpose, and supporting papers.

NOTE: Different companies have different ideas about what papers
should be attached to these vouchers; hence each group of documents, pay
rolls, invoices, bills payable, material receipts, storehouse issues, cash re-
ceipts, acknowledgments, releases, etc., regardless of filing media, are de-
scribed individually under corresponding sections of this classification and
the period of retention pertaining to each of these shall govern.

5 Budgets: Approved physical capital, financial, and operating budgets, forecasts for financing and operating the company during definite future periods and to guide the company's officials and employees in the expenditure of funds, together with work programs, estimates, books, and other records of comparison between estimated and actual expenditures and correspondence, memoranda, and work papers related thereto.

6 Transportation revenue and settlement records:

Permanent.
10 years.

Permanent.

4 years.

6 years.

2 years.

(a) Records of transportation revenues, settlements by shippers, and di- 4 years.
visions of revenue by or with participating or connecting carriers.
(b) Records of transportation revenue by movements and points of origin
and delivery.

7 Storage and loading revenues and settlement records: Records of revenue de-
rived from storing (including demurrage), loading, and unloading services,
and of settlement by shippers.

8 Miscellaneous revenue records: Records of miscellaneous revenues derived from rental of pipe line property, communications service, and other miscellaneous sources, including sale of oil and oil products accumulated from tariff allowances.

9

Routine billing records:

(a) Office copies of bills rendered for transportation, materials and supplies
sold, work performed for others, etc.

(b) Listing sheets controlling the transmission of invoices to other depart-
ments of the company and to affiliated companies.

Do.

Do.

Do.

3 years.

Optional.

Do.

Do.

Do.

4 years.

(c) Records and memoranda supporting the distribution of shop job ex-
penditures.

Do.

(a) Shop orders or requisitions for shop work.

(b) Records reflecting details of cost of each shop job..

(d) Statistics relating to operating of shops, which are not used in support Optional.
of book entries.

Stationery:

(a) Requisitions on stock clerk for stationery and office supplies..
(b) Card or other records of stationery and office supplies not necessary to
support the accounting records of such materials purchased. (See
item 1-6c.)

Audits:
(a) Audit reports of general audits and surveys made by independent
public accountants.

(b) Internal audits made by carrier, field audits, departmental audits,
office surveys and special reports, reports of inventories of materials
and supply stocks, and verifications and attestations of treasurer's
cash funds and securities.

(c) Records of audit and reconciliation of working or petty cash funds in
hands of employee-custodians.

Do.

Do.

3 years.

Do.

Do.

Accounting codes and instructions:

(a) Records of established codes of accounts and changes therein.

(b) Correspondence, rulings, interpretations, and instructions concerning
accounting procedures and practices.

Do.

6 years after discontinuance of code.

6 years after supersedure.