The expenditure of Bucknell's limited funds should be done in direct support of the University's mission. In an environment of rising tuition, moderation and discretion should guide decisions regarding expenses incurred by the University. The Bucknell Travel Policy (BTP) provides policies related to travel and business expenses incurred in the process of advancing the University's mission. The intent of the Bucknell Travel Policy is to provide policies that are consistent with IRS and Bucknell requirements while not placing an undue reporting burden on the traveler.
Internal Revenue Service (IRS) regulations require that individuals traveling or doing business on behalf of the University must account for all advances, allowances, and reimbursement of expenses. This accounting must include:
- Substantiation of expenditures, preferably with itemized receipts indicating the vendor, date and expense amount. Bucknell policy prefers all expenditures have receipts but does not require receipts for expenditures less than $25.
- Documentation of the business purpose of the expenditure (who, what, when, where, why).
- The return of any unused monies from cash advances.
Any amounts paid to an individual that are not accounted for and substantiated in these ways are considered income and thus subject to payroll tax withholding.
Compliance with Bucknell Travel Policy is the responsibility of the individual and the supervisors who authorize travel and approve travel expenses. All travel expense reimbursements are expected to be requested within 14 days from the last day of the trip.
Individuals incurring expenses under external funding shall adhere to BTP except where the grant terms are more restrictive. In instances where the grant terms are more restrictive than Bucknell Travel Policy, the individual is responsible for compliance. Please see section E Grant/Externally Funded Travel for more details.
The Bucknell Travel Council, sponsored by the Vice President of Finance and Administration, provides general leadership, direction, and oversight in support of Bucknell Travel Policy. The Bucknell Travel Council will include campus representation from both the faculty and administration and meet annually or as needed to update the Bucknell Travel Policy.