The Public Record Office Victoria (PROV) has released a new financial records retention schedule: PROS 25/06 – Financial Management. This update replaces parts of the older PROS 07/01 schedule and brings a much clearer, more consistent approach to how Victorian PUBLIC schools must manage, retain, and dispose of finance-related records.
What’s Actually Changed?
Most finance and administration records now follow a consistent rule of: “retain for 7 years after the action is completed.” This replaces the old mix of 2-year, 7-year and 15-year requirements under PROS 07/01.
Record types such as contract management, asset stocktakes, invoices, and agreements now fall under new PROS 25/06 categories.
UPGRADES TO RETENTION
Record Type
New Retention
Vehcile Logs Books |
Tender Records |
Financial Audit |
BAS Reports |
| 7 Years |
| 7 Years |
7 Years |
| 7 Years |
dOWNGRADES TO rETENTION
Record Type
New Retention
| Asset Registers |
| 30 Years |
What you need to do
Please be aware of the above changes. We are working hard to implement these for you in the backend, but in the meantime if you need to run destruction you can self-update using the instructions below:
Step 1: Login to your system
Step 2: Head to the settings area (NOTE: if you don’t see a settings button, you may not have the correct privileges to access the area. Please speak to a system admin or submit a help ticket!)
Step 3: See the images below that will help guide you to edit the records types.
Step 4: Downgrade any record types as required.
And that’s it! If you run into any troubles please reach out to us hello@smartstack.com.au, or call us on 1300 889 837.
