ITS-0230 Asset Management: Disposition

Description	Consists of records relating to the decommissioning of IT assets through sale to students, faculty, staff or another organization. Includes receipts, agreements, correspondence relating to the sale.
Retention Trigger	Disposition of asset
Retention	Trigger + 7 years
Responsible Unit(s)	IT Services
Source	IT Services, purchaser
Records System	Banner, Paper
Citations	Income Tax Act, R.S.C. 1985, c.1 (5th Supp.) s.230 (4)(b)
Record Authority	Associate Provost
Disposition	Secure destruction
Records Arising from Activity	Receipts Transaction and payment processing Records of setting up sales Learning Tool Transfer Agreement (Schedule C)
Retention Rationale	The Income Tax Act requires that books and records be kept until the expiration of six years from the end of the last taxation year.
Personal Information	Yes
Vital Record	No
Protection	Medium