<p> Document Retention Policy</p><p>Houston Ballet Foundation is committed to the obligation to preserve fiscal and administrative documentation to demonstrate that business of HBF is conducted and recorded properly in accordance with its policies, contracts, grant requirements and federal and state laws.</p><p>From time to time HBF establishes retention or destruction policies or schedules for specific categories of administrative and fiscal records in order to ensure legal compliance. HBF has determined that in most circumstances a seven-year retention period for most documents will fulfill any legal requirements. Example categories of documents that bear special consideration are listed below.</p><p> Tax Records: Tax records include but may not be limited to, documents concerning payroll, expenses, proof of deductions, business cost, accounting procedures, and other documents concerning the FOUNDATION’s revenues. Tax records should be retained for at least seven (7) years from the date of filing the applicable return.  Contracts and Grants: Contracts and grants shall be retained for 7 years following the termination date of contract or grant.  Workers Comp Claims: Worker Comp Claims must be retained for a period of 7 years after settlement of claim.</p><p>Questions regarding the retention of HBF documents should be made to the Managing Director and/or Director of Finance.</p><p>All documents containing fiscal and personal data shall be destroyed after prescribed retention period has expired by shredding of documents. </p><p>If imminent litigation, lawsuit or a legal document request has been made upon the FOUNDATION, ALL RECORD DESTRUCTION MUST CEASE IMMEDIATELY. The Managing Director may suspend the Document Retention Policy to require documents pertaining to any legal issue(s) be retained and organized.</p>