What is the agency’s retention policy regarding card transaction records?

The agency's retention policy mandates that card transaction records must be kept for a duration of three years. This period is designed to ensure that sufficient historical data is available for audits, compliance reviews, and any necessary investigations that might occur. Retaining records for three years allows the agency to maintain transparency and accountability in its financial dealings, as well as adhere to relevant regulations and guidelines that govern record-keeping practices.

By keeping records for this specific timeframe, the agency ensures that it can provide documentation of transactions when needed, facilitating smoother operations and compliance with oversight requirements. In contrast, options indicating shorter retention periods may not align with the comprehensive accountability standards expected for federal financial transactions, while an indefinite retention policy could lead to unnecessary storage costs and administrative burdens.