HR3620 - Transportation Benefit

1. Institutional Regulations
   
   The President may include a transportation benefit within an individual employee’s compensation package for those in higher level administrative positions at the College. If included, the benefit shall consist of the acquisition of a vehicle or cash in lieu thereof, at the election of the employee.
    
2. Procedure
   1. Acquisition of a Vehicle
      1. The employee may elect to purchase or lease a vehicle. Either transaction shall be completed as a personal obligation of the employee, to which the College shall not be a party.
      2. The College shall reimburse the employee for the actual amount of the monthly car payment or lease cost on a bimonthly basis up to a maximum amount. The maximum annual reimbursement amount shall be determined on an annual basis by the Controller through consultation with the President after the close of each prior fiscal year.
      3. Other Vehicle Expenses
         1. The College shall reimburse the employee for work related mileage per BS5812 - Travel Expense Reimbursement .
         2. The College shall not reimburse for car repair, maintenance, lubrication, tires, license fees, insurance costs or any other costs associated with the vehicle.
   2. Cash in Lieu of a Vehicle
      1. The employee may elect to receive cash in lieu of acquiring a vehicle.
      2. The cash amount for each fiscal year shall be calculated on an annual basis by the Controller through consultation with the President after the close of each prior fiscal year.
      3. The cash payment shall be made through the payroll system and shall be paid over 24 pay periods per fiscal year.
   3. Benefits under either election shall be subject to the prevailing tax regulations.
   4. The President shall inform Human Resources when he has extended the transportation benefit to an employee.
   5. Any transportation benefit may be cancelled/ended at the beginning of any fiscal year with a 30 day notice to the employee.