Travel
Important Information to Remember
- The IRS requires that reimbursements must be processed within 60 days following the event or trip or they are subject to taxation.
- Carleton's Travel Policy applies to Carleton VISA transactions and items submitted for reimbursement on a Payment Request Form.
- Reimbursements will be automatically deposited into your chosen bank account. (Authorize your Reimbursement Bank Account here)
CARLETON COLLEGE
EMPLOYEE TRAVEL and REIMBURSEMENT POLICY
This policy is intended to be used as a guide for college related travel, entertainment and business related expenditures. It supports our belief that all business related expenses for the College should be undertaken in the most economical way consistent with achieving the objectives of the College.
The Internal Revenue Service has issued publication 463, Travel, Entertainment, Gift and Car Expenses. In the regulations, the IRS states that ordinary and necessary business related expenses are deductible and reimbursable. The IRS defines ordinary as “common in your field of trade, business or profession”; and necessary as “helpful and appropriate for your business”. The IRS states that meals, hotels and entertainment expenses cannot be “lavish or extravagant”. Carleton reimburses employees for travel and entertainment expenses under "an accountable plan". The IRS defines an accountable plan as follows:
- there must be a business reason for the expenses
- the employee must substantiate the expenses
- the employee must return to the employer any amount advanced in excess of the substantiated expenses on a timely basis
To be in compliance with the IRS, the College has prepared the following accountable travel and business expense plan. These guidelines apply to all business related expenditures made by College employees and faculty. Faculty travel funded by federal grants must also comply with federal travel regulations as outlined in their individual grant proposals.
Departments may choose to have employees complete a Travel Budgeting Form to have an estimate of the travel expenses prior to the trip. When traveling on behalf of the College please leave your itinerary and emergency contact information with your department chair or manager.
This is an evolving document. Updates will be made as regulatory (IRS) and industry standards change. Employees should review the Travel Policy at least annually to be sure that they are in compliance with the guidelines.