Moving and Relocation Expenses
5.021
POLICIES AND PROCEDURES Originator: Subject: Date:
Provost and Senior Vice President for Academic Affairs Moving and Relocation Expenses 04/13/2016 Updated 05/15/2018
A. BACKGROUND Missouri Baptist University recognizes the magnitude of the task of relocation of one’s family and household effects. Additionally, the University realizes that payment or reimbursement of some of the costs of new employees relocating to the area may be an important consideration in the recruitment process. The reimbursement of some portion or payment for all of the moving expenses for certain new employees is subject to negotiation with a Sr. Vice President with approval of the President.
B. POLICY Missouri Baptist University will cover reasonable moving expenses associated with moving household and personal goods for eligible newly hired full time faculty, administrators, and staff. To be eligible under this policy, the newly hired employee must be moving a minimum of 100 miles from their present home; must move within the first year of hire; and must have a reasonable expectation of remaining in their position for more than 1 year. Reimbursements are taxable income to the employee. Expenses reimbursed under this policy include those associated with moving household/personal goods and the expenses for one pre-move visit intended to prepare for the relocation of the household and family. Typically, this visit is utilized to secure housing. Under this policy eligible expenses for the new employee and his/her spouse include up to a maximum of 3 nights of lodging expense, transportation to and from MBU, meals and rental car. Expenses reimbursed for the pre-move visit are includable in taxable income as described by the IRS.
C. DEFINITIONS Moving expenses: moving household goods and personal effects (including packing, container costs, transit), including storage expenses (up to 30 days), travel (including lodging but not meals) to your new home. Non-reimbursed moving expense examples are: security deposits, pre-move house-hunting expenses, loss on sale of your home, home improvements to help sell your home, expenses of entering into or breaking a lease, any part of the purchase price of your new home, vehicle ppm.5.021
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