The B.E.S.T. Bulletin
Business Expense Survival Tips
- January 2008 -
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Rented Vehicles
Under certain circumstances, the use of a rental car may be necessary. Many rental car agencies will give a discount to employees for business travel. To view a list of car agencies CMU has accounts with please visit the Contracting and Purchasing website, and click on the Travel & Moving Companies on the left. Rental cars should be economy class whenever available. When traveling in groups, sharing of cars is required to minimize costs.
The university offers rental collision insurance for employees who use their CMU Business Credit Card to rent automobiles. For coverage to be effective, cardholder must rent the vehicle in their name and sign the rental agreement. Employees must decline collision damage waiver insurance when renting the vehicle. If you are renting the vehicle for an individual affiliated with the University, they need to be listed as an authorized driver on the agreement. The coverage does not apply to full-size vans or cargo vehicles. If an accident occurs with an automobile rented with a CMU Business Credit Card, the claim should be reported to Risk Management and Insurance, 774-3741
You can find more information about renting a vehicle in the Business Expense manual and on the Contracting and Purchasing website.
Mileage Rate Change for 2008
Effective Jan. 1, the IRS standard mileage rate is 50.5 cents per mile for all business travel, up from 48.5 cents a mile in 2007. The updated employee reimbursement voucher and business card reconciliation form that reflect this new rate are available now for download here. If you have any questions regarding this new rate or anything pertaining to travel reimbursement, please call Chris Zalud at 3525.
Updated Monthend Schedule
The Monthend Schedule has been updated to include lockdown dates for 2008. The schedule can be viewed here. Please make note that the deadline is now listed as 5 PM rather than 8 AM. We will continue sending out lockdown reminders in the CMUToday Digest. We encourage you to add these dates to your Outlook Calendar to avoid missing the deadline.
Statistics for the December Statement Period (11/25/07 - 12/24/07)
Total Spend - $753,178.38
Total Number of Transactions - 4184
Average Charge - $180.01
Open Credit Cards - 738
Cards with Activity - 523
Thanks,
Payroll and Travel Services
Cindy Smith 7363 smith1cl@cmich.edu
Kim Wagester 7388 wages1ka@cmich.edu
Sara Yonkey 3797 yonke1sl@cmich.edu
Mary Hill 3481 hill1mm@cmich.edu