All car leases or purchases must be authorized by the President of UGA, and approved by the Foundation Executive Committee. Two different methods of reimbursement, a lease reimbursement or a car allowance, are allowed.
Leases
The vehicle is leased in the employee’s name, and reimbursement is made to the employee at a monthly rate approved by the President. The monthly rate will also cover insurance and maintenance of the car.
Payment Procedure
Employee submits a check request along with the original invoice indicating the lease amount for reimbursement, not to exceed the approved monthly rate. The employee may also submit a check request for maintenance and insurance to the extent that the maximum monthly rate has not been reached. These payments will also be made payable to the employee and will require original receipts.
Monthly Car Allowances
Payments are made to UGA for inclusion in the employee’s payroll. These payments are considered compensation. See policy 8.13 for employee awards. Please contact the Foundation Accounting Office for questions regarding potential fringe benefits not listed above.