Loyola University will reimburse university employees for authorized, reasonable and necessary expenses incurred while conducting business on behalf of the uinversity.  Reimbursement requests must adhere to all Travel, Accounts Payable, Purchasing or other applicable procedures.  Loyola University segregates reimbursement expenditures into the following 2 categories:

In accordance with IRS accountable plan regulations, reimbursements must be submitted within 60 calendar days after business related expenses are paid to avoid being included as wages for tax purposes. Reimbursements processed after 60 days from the date the expense was paid will be added to W-2 taxable earnings and appropriate taxes will be withheld from the employee's next regular paycheck.  Please note, while the university recommends that airline tickets be purchased and conference registration fees be paid be in advance of travel to take advantage of discounted fares, airfare and registration reimbursement requests must be submitted within 60 days from the date of purchase to avoid being included in earnings.  The 60 calendar day reimbursement period begins on the date of purchase, not the date of travel. 

Reimbursement requests must be received by the Financial Affairs Office within the 60 day period.  Reimbursement requests that are submitted to other offices for approval but are not received by the Financial Affairs Office within the 60 day time period will be added to W-2 taxable earnings. 

The University will not process reimbursement requests that are submitted to the Financial Affairs Office more than 90 calendar days after an expense is paid. This policy will apply to reimbursements for faculty and staff.  Reimbursement requests for expenses submitted more than 90 days after the expense was paid will be refused. 

Additional information regarding these timelines is located in the Required Documentation and Receipts / Timeline for Submission section of these policies.