Record Retention Policy

The Record Retention Policy defines how Maryland Productions (MP) and Event Revolution (RV) manage, retain, and dispose of business records. Proper record retention supports legal compliance, operational continuity, financial accuracy, and historical reference while reducing unnecessary data storage and risk.

Records must be retained consistently, securely, and in accordance with this policy.

Purpose

  • Ensure compliance with legal, tax, and regulatory requirements.

  • Maintain accurate and reliable business records.

  • Define retention periods for different record types.

  • Reduce risk associated with unnecessary or outdated records.

  • Establish consistent record disposal procedures.

Who This Policy Applies To

This policy applies to:

  • Employees (full-time and part-time)

  • Freelancers and independent contractors

  • Managers, supervisors, and project managers

  • Administrative and accounting staff

  • Anyone responsible for creating, storing, or managing company records

Compliance with this policy is a condition of employment or engagement.

What Is a Record

A record includes any documented information created, received, or maintained by MP or RV in the course of business, regardless of format.

Records include, but are not limited to:

  • Contracts and agreements

  • Financial and accounting records

  • Payroll and tax documents

  • Invoices and receipts

  • Client communications and deliverables

  • Inventory and asset records

  • Safety reports and incident documentation

  • HR and personnel records

  • Emails and digital communications

  • Photos, drawings, plots, and show files

Record Formats

This policy applies to records in all formats, including:

  • Paper documents

  • Digital files

  • Emails and messages

  • Databases and systems

  • Media files (photos, video, audio)

Format does not change retention requirements.

Retention Principles

  • Records must be retained for the minimum required period.

  • Records must be accessible during the retention period.

  • Confidential records must be protected appropriately.

  • Records must not be destroyed while subject to: - Legal holds - Audits - Investigations

Destruction must be intentional and documented.

Retention Periods

Unless otherwise required by law or contract, the following retention guidelines apply:

Financial & Accounting Records

  • Invoices, receipts, expense reports: 7 years

  • Tax filings and supporting documents: 7 years

  • Bank statements and reconciliations: 7 years

  • Payroll records: 7 years

HR & Personnel

  • Personnel files: 7 years after separation

  • Timekeeping and attendance records: 7 years

  • Training and certification records: 7 years

Operations & Projects

  • Project files and documentation: 5 years

  • Show files and technical documentation: 3 years

  • Inventory and asset records: Life of asset + 3 years

Safety & Compliance

  • Incident and injury reports: 7 years

  • Safety training records: 7 years

  • Compliance documentation: As required by regulation

Retention periods may be extended when required.

Storage & Organization

  • Store records in approved systems only.

  • Use standardized naming and organization.

  • Maintain backups for critical records.

  • Protect records from unauthorized access.

  • Physical records must be stored securely.

Poor organization increases risk and cost.

Access Control

  • Access to records is granted on a need-to-know basis.

  • Confidential records require restricted access.

  • Sharing records externally requires approval.

  • Access must be revoked when no longer required.

Unauthorized access is prohibited.

Record Disposal

  • Records may be destroyed only after retention requirements are met.

  • Disposal methods must be appropriate: - Shredding for physical documents - Secure deletion for digital records

  • Disposal must be performed in a way that protects confidentiality.

Bulk or automated deletion must be reviewed.

Responsibilities

All Personnel

  • Follow retention and disposal rules.

  • Protect records under their control.

  • Report potential issues or uncertainties.

Managers & Administrators

  • Ensure records are retained appropriately.

  • Authorize disposal when allowed.

  • Manage legal holds and audits.

IT & Systems Administrators

  • Maintain storage systems.

  • Support secure retention and deletion.

  • Ensure backups and access controls.

Enforcement

Violations of this policy may result in:

  • Disciplinary action

  • Loss of system access

  • Termination of employment or contract

  • Legal action where appropriate

Severity depends on the nature and impact of the violation.

Acknowledgement

All personnel may be required to acknowledge this policy in writing. Failure to read or acknowledge this policy does not exempt individuals from compliance.