Arkansas § 14-59-114 - Maintenance and destruction of accounting records.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-59-114 — Maintenance and destruction of accounting records., with citation guidance and answers to common questions.
§ 14-59-114. Maintenance and destruction of accounting records.
Accounting records can basically be divided into the following three (3) groups: Support Documents. Support documents consist primarily of the following items: Cancelled checks; Invoices; Bank statements; Receipts; Deposit slips; Bank reconciliations; Check book register or listing; Receipts listing; Monthly financial reports; Payroll records; Budget documents; and Bids, quotes, and related documentation. These records shall be maintained for a period of at least four (4) years and in no event shall be disposed of before being audited for the period in question. Semipermanent Records. Semipermanent records consist of: Fixed assets and equipment detail records; Investment and certificate of deposit records; Journals, ledgers, and subsidiary ledgers; and Annual financial reports. These records shall be maintained for a period of not less than seven (7) years and in no event shall be disposed of before being audited for the period in question. For investment and certificate of deposit records, the seven (7) years of required maintenance begins on the date of maturity. Permanent Records. Permanent records consist of: City or town council minutes; Ordinances; Resolutions; Employee retirement documents; and Annual financial audits. These records shall be maintained permanently. When documents are destroyed, the municipality shall document the destruction by the following procedure: An affidavit is to be prepared stating which documents are being destroyed and to which period of time they apply, indicating the method of destruction; This affidavit is to be signed by the municipal employee performing the destruction and one (1) council member. In addition, the approval of the council for destruction of documents shall be obtained, and an appropriate note of the approval indicated in the council minutes along with the destruction affidavit; This council approval shall be obtained before the destruction.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 14-59-114
What does Arkansas Code of 1987 Annotated § 14-59-114 cover?
Section 14-59-114 ("Maintenance and destruction of accounting records.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 14-59-114?
A common citation format is "Arkansas Code of 1987 Annotated § 14-59-114" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 14-59-114 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.