Records Management Guide: What is a Record?

What is a Records Value?

• Administrative Value – The primary administrative use for most records is exhausted when all the transactions related to them are completed. From that point they begin to lose their value quickly; however, records that contain the basic facts of an agency’s origin, policies, functions, organization and significant administrative decisions are preserved long-term to provide a historical perspective to understand the agency’s operations.
• Legal Value – Records have a legal value when they contain evidence of enforceable rights or obligations of the State. These records can include legal decisions and opinions; fiscal documents, such as leases, titles and contracts; and records of actions, such as claim papers and legal dockets.
• Fiscal Value – (Financial Transactions) Records that have served their basic administrative function may still have sufficient fiscal value to justify their retention in storage for a defined life-cycle for litigation or audit purposes.
• Research, Historical or Archival Value – Records have enduring value when they reflect significant historical events or document the history and development of an agency or policy.

- Records Management Reference Manual for Illinois State Government Agencies, 2020

Records can have more than one type of value. Always check with the Records Coordinator or College Archivist if you are unsure of a records value.

A Record Copy of a document is the original or official public record kept on file for the total retention period.

A Convenience Copy is a duplicate of the record copy and is for reference purposes only. These copies can be disposed of without request, but care must be taken to ensure a record copy is available.

Once the record copy has reached the end of it's retention period and is disposed of, ALL convenience copies must be disposed of as well, otherwise they become the record copy.

Records with historical value that have reached the end of their retention period and have been approved for disposal can be transferred to the College Archives. These records are then considered terminated and are no longer official public records.