- About Financial Affairs
- Policies + Procedures
Loyola University will reimburse university employees for authorized, reasonable and necessary expenses incurred while conducting business on behalf of the university. 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 incurred. Reimbursements submitted after 60 days from the date the expense was incurred will not be processed.
For travel purposes, the University begins counting the 60 day reimbursement allowance period on the day following the end date of travel. The end date of travel is defined as the employee’s return to New Orleans. Because reimbursements over 60 days will no longer be processed, the university will allow purchases made in advance of travel to be reimbursed 60 days after the end date of travel. This applies to expenses such as airfare, conference registration and prepaid hotel expenses. While not required, these expenses may be submitted immediately after purchase for reimbursement.
For Entertainment and Miscellaneous Expenses with no overnight travel involved, the University defines the incurred date as the date of purchase. The 60 day reimbursement period will begin the day after the purchase date.
This policy will apply to all reimbursement requests, including those submitted by independent contractors.
For student reimbursements with receipts 60 days or older, the check request must be accompanied by a completed W-9 form for 1099 reporting purposes.
Additional information regarding these timelines is located in the Required Documentation and Receipts / Timeline for Submission section of these policies.