Davis Grad Night, Inc.

Expense Reimbursement Policy and Procedure

Budget

The current year Davis Grad Night (DGN) Chair must present a balanced budget for approval to the Davis Grad Night, Inc. (GNI) Board at the Fall Board meeting.

Reimbursement for expenses not in compliance with this policy and outside the approved budget require approval of the GNI President and GNI Treasurer upon request from the current year Chair and Treasurer.

Statement of Purpose and Responsibilities

This document establishes policies governing the reimbursement of expenses incurred during the conduct of Davis Grad Night (DGN) business.  It is the DGN’s policy to reimburse volunteers for ordinary, necessary and reasonable expenses that fall within the approved budget when directly related to the transaction of DGN business.

Directly related expenses are those in which there is the expectation of deriving some current or future benefit for the DGN.

Volunteers are expected to exercise prudent judgment regarding expenses covered by this Policy.  Volunteers must make themselves aware of all applicable budget limits.  Volunteers are advised that expenses exceeding budget limits may not be reimbursed.

DGN volunteers are responsible for complying with this Policy.  Volunteers submitting expenses that are not in compliance with this policy risk delayed, partial or forfeited reimbursement.

Documentation

Requests for reimbursement of expenses must be submitted on the appropriate expense reimbursement request form.  The expense reimbursement form may be found on the davisgradnight.org website.  Each expense shall be separately identified.  Forms shall be dated and signed by the volunteer, committee chair, and DGN Chair.

Original receipts are required for all expenses submitted for reimbursement.  The committee chair and DGN Chair must approve requests for exceptions to this policy.

GNI complies with IRS regulations, which require that all business expenses be substantiated with adequate records.  This substantiation must include:

(1) The amount of the expenditure;

(2) The time and place of the expenditure;

(3) The business purpose of the expenditure; and

(4) All approval signatures.

Requests for reimbursement lacking complete information will be returned to the requesting volunteer.

Reimbursement requests shall be promptly submitted.  Requests must be submitted no later than June 30^th each year for the current year’s event.  Requests submitted after June 30^th may be rejected.

Approvals

Expense reimbursement forms, together with required documentation, must be submitted for review and signature approval to the committee chair.

DGN committee chairs approving expense reports are responsible for ensuring that:

1)     The expenses reported are proper and reimbursable under this Policy;

2)     The expenses do not exceed the budget limits;

3)     The expense report has been filled out properly;

4)     The expense report is accurate;

5)     The expense report has the required documentation; and,

6)     The expenses are reasonable and necessary.

Reimbursable Expenses

Goods or services utilized at an annual Grad Night event are reimbursable expenses, as long as they are in compliance with the applicable provisions of this Policy, meet all budget limits and are for business purposes.

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 volunteer, committee chair and DGN Chair must use his/her best judgment in determining if an unlisted expense is reimbursable under this Policy.

Adopted by the Davis Grad Night, Inc. Board on July 15, 2011.