SPA Process User’s Guide –
Chapter 2 – General Policies
The Texas State Records Retention Schedule requires agencies to maintain property records for the life of the asset and for a period not less than three fiscal years after the disposal of property. Property records should include any payment-related source documentation (i.e. invoices, payment vouchers, receipts, etc.) necessary to substantiate the value of the asset.
When applicable, agencies must adhere to the federal rules and regulations for retention of records for property purchased with federal grants or funds. Where federal guidelines and state guidelines apply, the greater required time period for records retention applies.
If a state agency fails to keep the records, the Comptroller’s office may refuse to draw warrants or initiate electronic funds transfers on behalf of the agency.