June 28, 2011

New Reimbursement Rates for Personal Automobiles Take Effect Friday, July 1

 

The Department of Finance has announced new reimbursement rates for business use of personal automobiles.

Effective with travel occurring on or after July 1, Vanderbilt will reimburse faculty and staff at the rate of 55.5 cents per mile for costs of driving their personal vehicle on University business and 23.5 cents per mile for moving purposes. This will permit reimbursement at the maximum rate announced this week by the Internal Revenue Service.

For more information please go here or to the Department of Finance home page under  “What’s New.”