Sponsors vary regarding the length of time the recipient, the university, is required to maintain records. Sponsor terms may, in fact, differ from program to program. State of Mississippi (UM) requirements regarding records retention must also be considered; these requirements vary according to program and circumstance. Typically, the university is required to retain official university records for seven years from the end of the project period, and PI/PD records for three years after final award close-out. If an audit is initiated within this three-year period, records must be maintained until all audit issues are resolved.

Official records can include program records housed with the PI/PD, fiscal records and documentations housed with the Accounting Office, and the official application and award file housed in the ORSP. All reports are the property of the university. PIs/PDs must notify the ORSP before any program records or files are destroyed or moved from campus.