[rancid] Config backup clarification

[kihara Muriithi]

Hi all,
  I am not sure I have grasped how rancid saves the configuration. From
the information I have gathered on line, it looks like the configuration
is saved in /usr/local/rancid/var/networking/configs/ directory. There,
I can find two copies of the config, for example 10.0.0.2 and
10.0.0.2.new. There is also CVS directory, but it has nothing. 
  Now our plan is to keep the configuration for at least 12 months.
After a week of running rancid, I can't seem to find any configuration
backup more than 2 days old. Have I mis-configured something or where
specifically should I be looking? The log file don't have an error
message by the way
  I will be grateful for any assistance.

Thanks
William