The archived status was originally designed as an aid in keeping track of who DJEP users have sent "Thank You's" to. When the event date of a "Booked" event passed, users would be reminded that they needed to change the status to wrap up any loose ends associated with the event.

Functionally, an event with an "Archived" status will be treated exactly the same as a "Completed" or even "Booked" event. It will be included on the calendar, in financial calculations, and everything else.