I've had a few questions about when I complete my running records. Simply put, I do them during my workshop conferring time. My district requires a running record score on all students in the fall and again in the spring. For my 4th graders this means I need to complete running records by the end of September. (I usually have scores on my 5th graders form the spring; many of them have tested out of the Rigby Running Record scale).
If I complete two running records each conferring session I'm able to have these completed by the September 30th deadline. If I feel further assessment is needed, I will complete an authentic running record (using a book of the student's choice), an Informal Reading Inventory (My favorite is the Bader Reading and Language Inventory), and usually I will use the QRI site word assessment to get a balanced view of the reader. I have found the QRI assessments to be useful when my students are reading past Rigby's level 30.
I personally feel that a running record on a 4th or 5th proficient reader to largely be a waste of time. At that point it's time to move to an IRI or QRI inventory for a useful, authentic assessment.