What is a Records Schedule?

Presented by: Kimberly Hall and Karen Rogers
       Records Liaison Training Module #2

                 November , 2010
                Module Objectives

   What is a Records Schedule?

   What is Records Disposition?

   What is a Big Bucket Retention Schedule (BBRS)?

           What is a Records Schedule?

A Records Schedule is a document which …

   Provides mandatory instructions for what to do with
    records that are no longer needed for current
    government business;

   States how long records must be kept to meet
    business needs and notes the legal requirements that
    apply before they can be destroyed or deleted; and

   Indicates when FHFA records can be transferred to
    off-site storage for temporary storage or to the
    National Archives for permanent retention.

         What is the Scheduling Process?

1.   Review office functions and recordkeeping

2.   Inventory and evaluate records;

3.   Determine whether there is an existing schedule by
     reviewing the office’s File Plan and the Agency
     Records Schedule; and

4.   If no existing schedule seems appropriate, contact
     RIM staff who will work with you and your business
     unit representatives to schedule new or unscheduled

    Common Elements of a Records Schedule

   Records series title

   Records description

   Disposition authority

   Retention period

   Electronic Records require information about
       Inputs
       Outputs
       Backups
       Documentation

              What is Records Disposition?

Records Disposition provides for the effective and efficient
management of records no longer needed in agency office space to
conduct current Government business
   Saves space, time, money, and protects records

       Transfer of inactive records to lower-cost storage at the WNRC
        until the end of their retention period,
       Disposal of temporary records at the end of their retention period,
       Transfer of custody of permanently-valued records to the National
        Archives at the end of their retention period.

 Disposition Authority is the legal approval granted by NARA
allowing the appropriate destruction of temporary records or
transfer of permanent records to the National Archives.

                     Types of Records

   Records retentions can be either
       Temporary
       Permanent

   Retention authorities are located in either
       FHFA’s Records Retention Schedule
       NARA’s General Records Schedules (GRS)

   Agency records are either
       Program records
       Administrative records

                  FHFA Program Records

   Program Records document the mission, or unique,
    substantive functions for which FHFA is responsible.

   FHFA’s Mission
    Provide effective supervision, regulation and housing mission
      oversight of Fannie Mae, Freddie Mac and the Federal Home
      Loan Banks

           To promote their safety and soundness,

           Support housing finance and affordable housing, and

           Support a stable and liquid mortgage market.

            FHFA Administrative Records

   Administrative Records relate to support, facilitative,
    or housekeeping functions
   Examples
       Human Resources records,
       Facilities records,
       Budget records, and
       Technology and Information records.

        Big Bucket Retention Schedule (BBRS)

  Comprehensive FHFA Records Inventory
 Fewer, simplified “Big Bucket” retention rules
 Records grouped according to agency business functions
 Cross-walk to the old FHFB and OFHEO Records Schedules
 BBRS concept is
     An industry “Best Practice”
     Endorsed by NARA (Bulletin 2008-04)
     Recently implemented by other government agencies

   The new comprehensive FHFA Records Schedule will
     Reflect FHFA missions and functions;
     Be media-neutral;
     Apply appropriate retentions to meet FHFA information needs; and
     Address adequate and proper documentation necessary to protect legal
      rights and ensure government accountability.
                Advantages of BBRS

 Simplifies disposition instructions;
 Synchronizes agency records retentions in the context of
  business functions;
 Improves the ability to find an existing, appropriate
  schedule for new or unscheduled records of a
  previously-scheduled business process;
 Maps more easily to an electronic records management
  (eRM) application, such as xWorks or the new
  Information Management System (IMS); and
 Allows automated, systematic records management.

            Questions or Comments?

The RIM Team is available to assist you in the
management of FHFA records

Jeanne Ratchford 202.649.3670
Susan Sallaway     202.649.3674
Karen Rogers       202.649.3673
Brigitte Tolbert   202.649.3675
Kimberly Hall      202.649.3671
Dawn Morton        202.649.3672
Angela Flottemesch 202.649.3676


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