It is AACE's policy to reimburse a person for all reasonable expenses of a business nature incurred while traveling on authorized AACE business.
To qualify for reimbursement, expenses must:
Provide a reasonable expectation of benefit of AACE
Be commensurate in amount with the situation involved
Not include expenses considered an item of a person's personal, living, or
Be properly approved by the Board either in the form of a motion or included in the annual budget
Administration of this policy is expected to be conservative; extravagance will not be permitted.
Two types of expenditures are reimbursed. They are:
Expenses incurred by a person while traveling on authorized AACE business.
Expenses incurred by a person in connection with authorized AACE business at his or her home location (eg, phone calls, postage, etc).
Expenses for reimbursement shall be reported on the AACE Expense Report form. These completed Expense Report forms shall be submitted by the seminar instructor to the Staff Director-Education at AACE Headquarters for review and recommendation for payment.
Travel expenses for up to two instructors (depending on the attendance of the seminar) will be reimbursed for all reasonable expenses required to put on the seminar. Allowable expenses include:
Airline fares - Coach or tourist (substantiated by receipt).
Personal Auto - Mileage will be reimbursed at the currently approved Internal Revenue Service rate per mile for business travel plus tolls and parking at actual cost. In the event of a change in the IRS-approved rate, the new rate shall apply when announced by the IRS and shall not be applied retroactively. For use of a personal automobile in lieu of air travel, AACE will reimburse the lesser of 1) cost of coach class air fare, or 2) cost of direct mileage of the trip at the authorized rate per mile.
Rental Car - To be avoided unless locations visited are so remote that public transportation or taxi is not practical or economical. Select the most economical car available commensurate with the need. Subcompacts should be adequate for urban travel and compacts are expected to meet all other requirements. To be substantiated by receipt. AACE has rental agreements with several major carriers, but their rates should be compared to others to obtain the least cost rental.
To and From the Airport
Airport limousine - where available and more economical
Taxi - joint use when this is a savings, or where another means of transportation is impractical
Rental Car - to be avoided unless public facilities are not available (see above information re: rental car company discounts).
Hotel - AACE will make hotel reservations at the host hotel for the instructor(s) for two nights’ hotel stay. In the event of a double occupancy where expenses are reimbursed for only one person, reimbursement is limited to the expense of regular single rate.
Meals - The actual cost of all meals, plus tip, is reimbursable. The cost of meals should be reasonable and appropriate to the location visited. The entertainment portion of the cost of a meal taken at a night club or supper club does not qualify as reimbursable. Also, there is seldom justification for the cost of eating in prestige dining rooms which charge premium prices.
Telephone/Fax - The cost of all business communications, based on the least expensive method commensurate with the business urgency, is reimbursable. Personal telephone, or fax expense is authorized if necessary because of a change of schedule or emergency.
Valet/Laundry - Reasonable expenses depending on the length of absence from home are reimbursable.
Postage and Shipping - Expenses incurred for correspondence regarding the seminar, and for shipping handouts or other materials to the seminar location are reimbursable. Submit a receipt for the expenses to Headquarters for reimbursement. State the purpose of the expenses so that the expense can be properly accounted.
Phone Calls - Expenses incurred for call regarding seminars are reimbursable. If AACE calls are made from a person's home phone, submit a copy of your phone bill to Headquarters for reimbursement. State the purpose of the call so that the expense can be properly accounted.
Reproduction - Expenses incurred for copying handouts, case studies or other documents for use in the seminar are reimbursable. As a rule, it is preferred that the instructor send handout files electronically to Headquarters. The Headquarters staff will then arrange to have the handouts and case studies reproduced for the course. If the instructor prefers to provide his or her own handouts, cost of reproduction and shipping will be reimbursed. Receipted bills for such services shall accompany an explanation of the expense sent to Headquarters for reimbursement.
Receipts (including bills paid by check or other supporting evidence) are required for any
individual expenditures amounting to $25.00 or more, inclusive of tips.
In addition, receipts must be attached regardless of amount for the following expenditures:
Fares: air, bus intercity, rail, or rental car
Laundry and valet
Use of personal phone for AACE business purposes
Approval of Expense Statements
Instructors’ expenses are to be approved by the Staff Director-Education.
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