Updated Business Travel & Expense Policy
The Finance team has recently updated the Travel & Business Expense Policy with a simplified format and a few policy updates.
Key changes that may impact your area include:
- All tolls, fuel, GPS and parking fees incurred while travelling for business are allowable expenses. As a result, users may opt into prepaid gas and other services provided by the rental car provider when reasonable.
- Note that tickets and fines related to parking, moving violations or vehicle lockouts are not allowable.
- Vanderbilt now requires a round-trip airfare comparison for driving a personal vehicle if the trip mileage exceeds 1,000 miles (formerly 600 miles).
Expense Reporting: Deadlines and Tax Considerations
- Clarifies that individuals must submit out-of-pocket reimbursement requests within 60 days of incurring the expense. This deadline applies regardless of the timing of the related trip.
- The Expense & Payment Cards team will report any reimbursement submitted outside of the 60-day window to Payroll as taxable income.
Questions regarding this policy should be directed to the Travel team at firstname.lastname@example.org or Payment Cards & Expenses team at email@example.com.