effective Jan 1st 2024

This document establishes policies governing the reimbursement of travel, entertainment and other business expenses incurred during the conduct of company business, as well as the issuance and use of credit cards. It is the company’s policy to reimburse employees for ordinary, necessary and reasonable expenss when directly related to the transaction of company business. Directly related expenses are those in which there is the expectation of deriving some current or future benefit for the company, the employee is actively engaged in a business meeting or activity necessary to the performance of the employee’s job duties, or, in the case of entertainment, there is a clear business purpose.

Employees are expected to exercise prudent business judgment regarding expenses covered by this Policy. Reimbursement for expenses that are not in compliance with this Policy requires the prior written approval of the company’s Managing Director and/or President. Company employees are responsible for complying with this Policy. Employees submitting expenses that are not in compliance with this policy risk delayed, partial or forfeited reimbursement.

documentation

Each expense shall be separately identified. Original receipts are recommended for all expenses submitted for reimbursements under $25.00, but required if the amount exceeds such value.

Requests for exceptions to this policy should document extenuating circumstances and be approved by your supervisor. The company complies with IRS regulations, which require that all business expenses be substantiated with adequate records. This substantiation must include the following information:

1-Client code

2-Billing code (billable / NB)

3-Dollar amount3

4-The time and place of the expenditure

5-The business purpose of the expenditure

Approvals

Once completed, print the consolidated report by selecting “Print Entire Workbook”. Sign the PDF electronically, and submit to your supervisor for approval.

The Managing Director and/or President may approve expense reimbursement in the absence of the employee’s supervisor. Supervisors approving expense reports are responsible for ensuring that the expenses reported are proper and reimbursable under this Policy, the expense report has been filled out accurately and has the required documentation; and the expenses are reasonable and necessary.

reimbursement eligibility

The following are reimbursable expenses, as long as they are in compliance with the applicable provisions of this Policy, and are for business purposes:

- Hotel charges and related tips

- Airfare, train fare, bus fare, taxicabs, and related tips,

- Meals, including tips between 15 and 20% not to exceed $100.00 per day

- Charges for internet connectivity at destination or transit

- Car service expenses

- car rental is only to be used when car services are not an option

- Personal mileage, if using own vehicle.

- Toll and parking charges

- Conference and convention fees

- Business center costs (i.e., copying, faxing, etc.)

- Reasonable business entertainment expenses

- Other reasonable and necessary business expenses, not specifically excluded by this section

air travel

All employees are expected to travel coach class, and are encouraged to search for the lowest available restricted but changeable fare, rather than the fully-refundable fare. Personal frequent flyer credits may be used to upgrade travel class; however, no reimbursement will be made and no contribution recorded on behalf of the employee for the business use of frequent flyer credits.

The cost of cancelling and/or rebooking of flights is not reimbursable, unless it can be shown that it was necessary or required for legitimate business reasons (such as a changed meeting date). All unused airline tickets are to be promptly returned to the Managing Director and/or President. Employees must identify and pay for all personal flights, even if such flights are incorporated into a flight schedule that serves business purposes.

lodging

Prudent judgment should be used when selecting a hotel.

For all lodging expenditures, hotel receipts must be submitted; credit card charge slips do not represent adequate supporting documentation.

The company will not reimburse an employee for separate travel costs associated with his/her spouse or partner. However, the cost of a shared hotel room need not be allocated between an employee and his/her spouse or partner for purposes of this Policy.

rental cars

It is expected that reservations will be made for a compact vehicle, depending on the type of travel. Occasionally a mid-size vehicle may be appropriate when more than one employee will be using the vehicle. The cost of premium, luxury or four-wheel drive vehicles will be charged to the employee renting the vehicle and reimbursement will be made at the compact or mid-sized rate as appropriate. Employees are expected to accept “Loss Damage Waiver” coverage so that any damage to the rental car is covered with no deductible. Employees driving rental cars for business purposes will have liability coverage under the company’s business liability policy.

personal vehicles

Employees who utilize personal vehicles for business purposes are required to have a valid driver’s license and at least the minimum insurance coverage required by law. Mileage will be reimbursed at the currently allowable IRS rate. Miles submitted for reimbursement should be net of any normal commuting miles.

Primary insurance for employees who use their personal vehicles for business purposes shall be through their own personal automobile insurance policy, and will be responsible for any damage to the vehicle, as well as for liability.

The expenses related to gasoline consumed by personal vehicles are the responsibility of the employee. The owner/driver of the vehicle is responsible for all parking fines and moving violation tickets.

Credit Cards

Credit cards issued in the name of the company may be provided, at the Managing Director and/or President’s discretion, to those employees whose jobs require a significant amount of travel, entertainment, or business purchasing. Credit cards issued in the name of the company are a privilege which may be revoked at any time. Company-issued credit cards shall not be used for personal expenses.

policy exceptions

Generally, any exception to this policy must have the prior written approval of the employee’s Managing Director and/or President. Requests for exception should document extenuating circumstances or proposed overall savings to the company.

No policy can anticipate every situation that might give rise to legitimate business expenses. Reasonable and necessary expenses, which are not listed above, may be incurred. Each employee and supervisor must use his/her best professional judgment in determining if an unlisted expense is reimbursable under this Policy.