How do you Handle Archival Records Storage?

It’s that time of year: many companies, governmental agencies, and other facilities face the challenge of what to do with paper records. We have created a brief guide to archival records storage to deal with some of these issues.

Where to store records?

Many companies utilize STORE MORE! Self Storage to store records. This can be a painless and easy way to do it.

If you store records at your facility or own a dedicated records storage facility, the records should be in a large, secure, environmentally sound area and meet governmental requirements for chain of custody (HIPPA).

Regardless of what you choose to do, you have to consider costs, physical structure, security, needed space, safety, and operational concerns.

Archival Storage Costs

In a typical office, the normal ratio of stored files to floor space is 1 cubic foot of stored records per square foot. In a records storage area, the ratio of stored files to floor space can range from 2:1 to 5:1, depending on the shelving, ceiling height, and the floor weight. Using STORE MORE! Self Storage is less expensive than office storage, of course—records center equipment typically costs a third less than traditional office cabinets and shelves, and warehouse floor space costs two-thirds less than office floor space.

To determine IN-OFFICE storage costs

* Take the average cost of a four-drawer, letter-size file cabinet …$300.00 (including tax & delivery).

* Divide by the number of cubic feet (c.f.) of records it will hold …6 c.f.

* Get the cost of filing cabinet equipment per c.f. …$50.00

* Take the square footage of a four-drawer, letter-size file cabinet …3 square feet

* Add the square footage needed to retrieve files, 3, and get …6 square feet

* Multiply by the average cost of office floor space… $22 psf/year ($1.83 psf, triple net per month).

* Get the cost of office rent per four-drawer file cabinet …$132.00 per year.

If you move records from 20 cabinets to a STORE MORE! Self Storage you could realize $6,000.00 of cabinet space EACH YEAR now available for new or active files.

* 20 x 6 cubic feet (c.f.) …120 c.f.

* 120 c.f. x $50.00 ($/c.f.) …$6,000.00 and represent $2,640.00 of office floor space now available for new or active files:

* 20 x $132.00 (# of cabinets * annual rent per cabinet)…$2,640.00

ANNUAL OFFICE COSTS: $6,000.00 + $2,640.00 = $8,640.00

To determine OUT-0F-OFFICE storage costs:

* Take the cost of the standard steel shelving purchased …$600.00 (four six-shelf units, 18-gauge, 30″ x 42″ x 68″)

* Plus freight, shipping and assembly, if applicable…$150.00

* Add them together $600 + $150 = $750.00

* Divide by c.f. of shelving: 6 c.f./shelf x 6 shelves/unit x 4 units = 144 c.f.

* Get the cost per c.f. of storing = $5.20 – one time charge

* Multiply c.f of storing by the c.f. of records, $5.20 x 120 = $624.00

* Take the cost of floor space, at STORE MORE! Self Storage = $0.99/psf

* Multiply by the storage space needed, 100 sq.ft. x $0.99 = $99.00 per month

x 12 months = $1,188.00 per year

* Add the cost of records storage cartons: $1.30/box, $5.30/archives box (10c.f.): $143 + $53 = $196.00

TOTAL STORAGE COSTS represented: $624.00 + $196.00 + $1,188 = $2,008.00

FIRST YEAR SAVINGS OF USING STORE MORE! VS. YOUR OFFICE:

$8,640.00 – $2,008.00 = $6,632.00 SAVED OR $55.27 PER CUBIC FOOT

YOUR OFFICE COSTS NOW: $55.27 PER CUBIC FOOT

STORE MORE! COSTS: $16.73 PER CUBIC FOOT – OR 70% SAVINGS FIRST YEAR

STORE MORE! COSTS YEAR TWO = $1,188/$8,640 = 86% SAVINGS YEAR TWO

You should also examine the short-term cost avoidance of inactive records storage but also the long-term picture. For example, a basement room with empty shelving may suffice for a couple of years and greatly reduce storage costs as well as provide quick access and retrieval. But such facilities sometimes have leaking pipes, high humidity, rodent infestation, and mold—none of which is good for stored records.

STORE MORE! Self Storage aids in records management by providing an organized solution to high density archive storage at a very economical price, no infestation, and the option of climate controlled units for sensitive documents.

STORE MORE! Self Storage versus the competition

STORE MORE! Self Storage can provide very economical record storage that will serve all of your archived record storage.

Typical record storage facilities charge on a per cubic foot basis. While that seems reasonable at first, when STORE MORE! Self Storage rent is based on a “per square foot” rate. Consequently when you analyze how much more cubic feet you will get into a storage unit, your cost per cubic foot is dramatically reduced.

Determine your cubic foot needs

A standard bankers box measures 10” x 12” x 15” or 1.04 cubic feet. As we see from the illustration from IN-OFFICE storage costs a standard filing cabinet contains 6 cubic feet of file space. So you would need approximately 6 bankers boxes for each standard filing cabinet.

Tags: archival storage, box storage, climate controlled record storage, file storage, HIPPA Record storage, record destruction, record storage, secure record storage

This entry was posted on Thursday, July 23rd, 2009 at 12:40 pm and is filed under Featured, Other News, Storage Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.