Noble uses Average Daily Rates (ADR) guidelines on lodging, meals and incidental expenses – the ADR is a widely accepted lodging industry measure based upon a property's room rental revenue divided by the number of rooms as reported by the hotel property to a leading provider of lodging industry economic data.
Note: ADR per diem rates are available through the GSA (U.S. General Services Administration) website; only the third-party-provided ADR rates apply to the Noble travel policy - please ignore any and all other references to GSA policy and procedure
MEALS & INCIDENTAL EXPENSES
- Rates are the maximum reimbursable amounts allowed (before tax) - no credit in any other expense category is offered to the employee spending less than the maximum allowable per diem daily amount
- The first and last day of business travel are reimbursed at 75% of the full day per diem rate
- Meals provided by others, such as those included in registration fees or in hotel rates must be deducted from the per diem – meals provided as part of conference registration must be deducted from the per diem
- In all cases, no reimbursement will be made without a detailed receipt, regardless of the amount
PERSONAL AUTO USE
- Use of personal car is currently reimbursed at a rate of $0.63 per mile – necessary tolls and parking costs will be reimbursed with the submission of a receipt
- To receive reimbursement for mileage, start and finish odometer reading, point of origin and destination must be recorded on the expense submission
- Employee assumes the responsibility for any parking and traffic fines and infractions
NON-REIMBURSABLE TRAVEL EXPENSE
Non-reimbursable expenses include, but are not limited to airline club dues, rental car club membership fees, airline headset rentals, in-room movies, insurance on life or personal property while traveling, purchase of clothing or other personal items, expenses for family, child, pet, home and property while on a trip, excessive / premium alcoholic beverages. Commission-based employees may be responsible for up to 50% of travel expense based upon non-achievement of goals.
Noble Financial recognizes the need for the appropriate entertainment of clients and final-stage prospects. Federal tax code limits the corporate deduction of reasonable entertainment expense to 50% of the total expenditure. Expenditures deemed as excessive will result in a tax deduction below 50% - or rejected as a legitimate business expense. As these expenditures are among the most scrutinized by both the IRS and the Company's auditors, proper judgment must be exercised when considering client entertainment.
- All entertainment expenditures must be pre-approved using the TRAVEL / ENTERTAINMENT REQUEST FORM(TRF)
- The reason / rationale for the expenditure and an estimate of the cost, together with the name(s) and position(s) of those to be entertained must be recorded on the TRF
- All of the guidelines applicable to business travel must be followed in order to obtain reimbursement for entertainment expense – receipts must be detailed and include the individual costs on the receipt
- When traveling, the employee portion of any entertainment expense for dining is limited to the subsistence daily per diem
- With the exception of corporate planned / sanctioned events, the employee cost for entertaining clients is non-reimbursable (eg: green fees, sporting tickets, dinners, etc.)
- The cost of a single client-entertainment event / function may not exceed $100 per individual (including travel, taxes and gratuities related to guests)
- Reimbursement may include a gratuity of up to 18% of the bill before sales tax – a single gratuity may not exceed $100
- Material variance(s) from the cost(s) estimate(s) on the TRF will be the responsibility of the employee
- Individual items of entertainment expense or collective expense(s) deemed excessive will not be reimbursed.
- Travel and entertainment expenses may not exceed 2% of commission-based employees revenues' and not more than 5% of any individual client-account in any calendar year
- Commission-based employees may be responsible for a portion of, or all entertainment expense(s) when the limits expressed above are exceeded.
Acknowledgment of Noble Financial Capital Markets' Travel & Entertainment Policy
This is to acknowledge that I have received the guidelines and related materials governing travel and entertainment expense reimbursement at Noble Financial Group via the Noble Financial website and understand that it sets forth the terms, conditions and limitations for reimbursement of expenditures I make as an employee of the Company. I understand it is my responsibility to read and understand the policy, procedures and limitations set forth and I further understand that I must follow such policy and procedures in order to be reimbursed for expenditures I have made relating to Company travel and entertainment of guests.