Policy Overview:
The Lambourn Junction Community Interest Company (referred to as “the Company”) is committed to supporting volunteers in their efforts to advance our community initiatives. This Expense Reimbursement Policy outlines the procedures and guidelines for the reimbursement of approved business-related expenses incurred by volunteers on behalf of the Company.
Policy Guidelines:
1. Eligibility:
– This policy is applicable to volunteers and Directors of The Lambourn Junction Community Interest Company who have received prior approval to incur expenses on behalf of the Company.
2. Expense Approval:
– All expenses must be pre-approved by an authorised representative of the Company before they are incurred.
– Volunteers must submit a detailed expense request, including receipts, to the designated contact person for approval.
3. Authorised Expenses:
– The Company will reimburse volunteers for reasonable and necessary expenses incurred during the course of their volunteer activities. Examples include purchases made on behalf of the company, travel expenses, meal expenses during official Company events, and other pre-approved costs.
4. Submission of Expense Reports:
– Volunteers must submit expense reports within 15 of incurring the expense.
– Expense reports should include original receipts or a photo/scan of the receipt, a brief description of the expense, and the purpose for which the expense was incurred.
5. Receipt Requirements:
– Original, itemized receipts must accompany all expense reports.
– Credit card statements or receipts alone are not sufficient as proof of expenses.
7. Reimbursement Process:
– Once the expense report is submitted and approved, reimbursement will be processed promptly.
– Reimbursement will be made via petty cash or bank transfer.
8. Non-Reimbursable Expenses:
– The Company will not reimburse expenses that are not pre-approved or are deemed extravagant, unnecessary, or personal in nature.
9. Tax Implications:
– Volunteers are responsible for any tax implications related to reimbursements. It is recommended that volunteers seek independent tax advice.
10. Policy Review:
– This policy will be reviewed regularly to ensure its relevance and compliance with current regulations.
Acknowledgment:
By volunteering with Lambourn Junction CIC, you acknowledge that you have read, understood, and agree to abide by this policy.
Document Control
- Policy approved on: 8 December 2022
- Policy re-approved on: 28 November 2024
- Next review date: 28 November 2025
Lambourn Junction Community Interest Company
The Blue House, Station Road, Lambourn, RG17 8PH
Company Number: 13305113