What’s new…?

BUDGET YEAR IS 2012

Please check out the Finance and Treasury News and Policy Updates here.

Travel Expense and Reimbursements

• The current mileage rate is $0.555 per mile and is in effect for travel occurring after July 1st, 2011 

• Previous rate- For travel that occurred January 1rst, 2010 to December 31rst, 2010 the mileage rate is 50 cents per mile.  For travel that occurred January 1rst, 2011 through June 30th 2011 the mileage rate is 51 cents per mile.

Effective Immediately: 

all Business Travel Expense Reports must be signed by the traveler. E-mail confirmation, PDF or fax signatures will be accepted for travel vouchers only.

 All cash advances must now be signed by the person receiving the advance. All advances not signed will be sent back to the person requesting the advance per the Travel Accounting Office. 

Please use all new vouchers and forms located at the Office of Finance and Treasury website: All cash advances must now be signed by the person receiving the advance. All advances not signed will be sent back to the person requesting the advance per the Travel Accounting Office.

http://finance.princeton.edu/form-library/all-forms-a-z/ 

Interdepartmental Invoices (II’S): Please attach supporting documentation to the II to justify why this transfer of funds is required. Also, a copy of the project grants statement showing the original entry to be moved.

 

Bank of America (BOA) Visa Statements and cards, (Previously PNC bank cards): 

       As of today July 1st, 2011 all previous PNC visa cards have been converted to the new Bank of America visa purchasing cards. If you have any questions regarding your Single Transaction Limits (STL) or your monthly limit, please contact Eslin Brown. Whenever you have a request for an increase to your card for a one time purchase, please send a detailed e-mail request to Eslin Brown embrown@princeton.edu, with a description of why this increase is being requested. You do not need to give any card information in the e-mail, as this is on file, only your name is needed and the amount of the increase. Increases are usually granted the same day. Also, if for any reason your card is lost or stolen please contact Eslin Brown 258-0380 and she will take the necessary steps required to have your card deactivated and a new card issued to you.

A Few Reminders: 

Step by step guide to reconciling your transactions in the works program is located at:

http://finance.princeton.edu/how-to/buying-paying/how-to-buy/departmental-credit-cards/verify-departmental-credi/

Finally, 

·          All applications for new visa cards must be sent to the finance department for final approval from Bob Leckie before they are sent to the Treasurer’s office. Please remember to complete the Acceptance of Responsibility form with your application located at:
http://finance.princeton.edu/form-library/buying-paying/acceptance-of-responsibil/

·          Reconcile all transactions to your statement each month. 

·          Sign your statement and send it to Kathe Woodside in our finance office with all original receipts (copies are not required)

·          Attach a missing receipt form for all missing receipts located at : http://finance.princeton.edu/form-library/cash-handling-receipts/missing-original-receipts/

 

Reminders

• Business Class Travel – Faculty

Prior written approval is required from the Dean of the Faculty for business class travel. Please attach the notice of approval to the Business Travel Expense Report. 

•  Business Class Travel – Staff

Prior written approval is required from the Vice President for Administration for business class travel. Please attach the notice of approval to the Business Travel Expense Report. 

•  Domestic Per Diems:

The per diem allowance for meals and related incidental expenses pertaining to U.S. travel is $36.00 per day (effective January 1st, 2005). Certain high-cost localities qualify for an allowance of $46.00 per day. Incidental expenses include tips and transportation to/from dining locations. 

• International Per Diems

When traveling in foreign cities, travelers may elect to use the current international per diem rate for meals and incidentals only. Travel Accounting will only accept rates documented from this site, and will not try to compare rates from other sources. The traveler must document that any per diem claimed for meals and incidentals is from this site, by attaching a printed copy to the original Business Travel Expense Report.

 

Currently all wire transfer costs are charged to the University and Bank Fees for wire transfers are charged to the recipient.  Wire transfers are very costly to the University.

In an effort to reduce costs we suggest performing a Bank Draft whenever possible.  A Bank Draft is similar to doing Direct Deposit, but it does require the recipient to sign an Electronic Deposit Request Form, found here.  When paying a vendor/employee in this manor, please indicate that it will be a Bank Draft in the "Special Handling" box on the voucher.