Data Retention Policy

Purpose
The objective of this policy is to establish guidelines for LBC to manage, maintain and dispose of records in an orderly and lawful manner, It is the purpose of a data retention policy to facilitate the following:-
• All data is retained for the period to allow the Club to administer its members and provide information to them in a timely manner.
• Adequate data files will be developed and maintained to document the Clbs compliance with all relevant laws and regulations (GDPR)
• All data records necessary for business reasons are retained for a period of time that will reasonably assure the availability of those records when needed
• All records not necessary for legal and business reasons can be destroyed in order to reduce the cost of storing, indexing and handling the amount of files and paper which would otherwise accumulate.
• It is imperative that LBC knows which documents have been retained and which documents have been discarded. Therefore, extra files including correspondence, notes, memoranda, computer files etc. which are maintained by Club Officials are subject to these guidelines and shall not be retained in excess of these guidelines.
An effective data retention and destruction policy reduces the search, retrieval and production costs of discovery when stored data must be produced, When our paper and electronic documents are organised, our ability to foresee and react to potential documentation problems is enhanced.
Taking preventative measures avoids a potential crisis situation later.
LBC’s data retention policy is defined below:-

Type of Data Minimum Requirements
Accounts payable and schedules 7 Years
Audit reports 7 Years
Bank reconciliation 7 Years
Bank Statements 7 Years
Cheques (for important payments and purchases) 7 Years
Contracts (expired) 7 Years
Contracts (still in effect) 7 Years
Current Club Members contact details 1 Year
Expired Club Members contact details 1 Year after membership lapses
AGM Minutes & Reports Permanently
Trustees Minutes & Reports Permanently
All Committee Minutes & Reports Permanently
Club Awards and Honours information Permanently

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