We are excited to announce our new and improved reimbursement policy for gifts to donors, students and volunteers. This new policy allows greater accountability and flexibility as we wisely use the Lord’s provision for ISI. It even includes the option for drawings at student events. Below is an easy-to-follow guideline for each category. Remember that all reimbursements are subject to available funds in your account. Donors (Limit $100 per family)
Allowed-You send a Harry and David gift basket to your top donors at Christmas. Not Allowed-You buy candy/toys for a donor’s children every month. Not reimbursable because of the frequency. Students (limit $150 per student)
Allowed-You purchase a mattress for a student who is sleeping on the floor and does not have resources to cover this need on their own. Not allowed-(a) You gift a student a new bicycle because he/she “wants a nicer one.” (b) You gift a student $100 in groceries every month. Volunteers (Limit $75 per person)
Allowed-You send a plant or bouquet of flowers to a monthly volunteer after the end of the school year ends. Not allowed-You give a $75 gift to volunteers every month. Drawings (Limit $500 per event)
A city/area team decides to hold a drawing at the annual welcome picnic where “winners” are chosen randomly. Written pre-approval by the RFD is submitted for the reimbursement with exact amounts. You may not charge participants or sell tickets. Avoid calling it a raffle or auction. Submit receipts and RFD approval with reimbursement request. (Prize examples: bikes, gift baskets, iPad, furniture, etc.) If you would like to print a copy of this new policy for handy quick reference, click here.
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AuthorSheldon Jantz, Senior Accountant with ISI. I have been doing accounting with ISI for 20 years. Archives
December 2018
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