enterprise updated travel manual and accounting polices & procedures · 2016-10-03 · updated...

E N T E R P R I S E F L O R I D A ’ S

Updated Travel Manual and Accounting Polices

& Procedures T U E S D A Y , M A Y 1 0 , 2 0 1 6

Enterprise Florida Board Executive Committee Meeting | May 10, 2016

Enterprise Florida’s Updated Travel Manual and Accounting Policies and Procedures

DOCUMENTS LIST

The following documents are being provided for your review prior to discussion and/or action.

Tab 1

Travel Manual –dated March 2016 ............................................................................................ 1

Tab 2

A1 Revenue and Cash Receipts – revised October 2015 ....................................................... 53

A1-1 Bank Accounts – revised October 2015.......................................................................... 57

A1-2 Private Contributions – revised October 2015 ................................................................ 60

Tab 3

A2 Purchasing and Cash Disbursements – revised October 2015 ......................................... 63

A2-1 Expense Reimbursements – revised October 2015 ....................................................... 72

A2-2 Related Party Transactions – revised October 2015 ...................................................... 79

A2-3 Outgoing Wires – revised October 2015 ......................................................................... 81

Tab 4 A3 Mobile Devices – revised October 2015 ............................................................................ 82

A4 Technology and Resources – revised October 2015 ......................................................... 84

Tab 5 – Appendix

A5 Payroll – revised October 2015 .......................................................................................... 89

A6 Month End – revised October 2015 ................................................................................... 91

CORPORATE TRAVEL MANUAL

Table of Contents i Updated March 2016

Travel Manual 2016

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Table of Contents ii Updated March 2016

Electronic Version Hint: In the Table of Contents below you can point to the page number and click on it and document will go to that section.

TABLE OF CONTENTS

Section

1 Travel Manual Purpose ....................................................................................................................................... 1 Scope ........................................................................................................................................... 1 Responsibility and Enforcement .................................................................................................. 1 Who to Call on Travel Policy Issues ............................................................................................ 1 Definition of Terms: ..................................................................................................................... 1-2 Travel Authorization ..................................................................................................................... 2 Assigning Authorization Authority ................................................................................................ 2

2 Travel Arrangements Reservation Procedures .............................................................................................................. 3 Group and Meeting Travel Reservation Procedures ................................................................... 3 Passports and Visas .................................................................................................................... 3 International Travel Advisories .................................................................................................... 3

3 Domestic Air Travel Making Air Travel Reservations .................................................................................................. 4 Airline Class of Service ................................................................................................................ 4 Upgrades for Domestic Air Travel ............................................................................................... 4 Discounted Airfares ..................................................................................................................... 5 Airline Frequent Flyer Programs ................................................................................................. 5 Airline Security Issues ................................................................................................................. 5 Travel on Charter or Private Aircraft ............................................................................................ 5 Lost or Excess Baggage ............................................................................................................. 5 Denied Boarding Compensation ................................................................................................. 6 Overnight Delays ......................................................................................................................... 6 Cancellations ............................................................................................................................... 6 Unused/Voided Airline Tickets .................................................................................................... 6-7 Air Travel Payment Procedures .................................................................................................. 7

4 International Travel Advance Planning for International Travel .................................................................................. 8 Airline Class of Service for International Travel .......................................................................... 8 Upgrades for International Air Travel .......................................................................................... 8 Lowest Airfare Definition for International Travel ........................................................................ 8 Discounted Airfares for International Travel ................................................................................ 8-9 Preferred Airlines for International Travel ................................................................................... 9 International Stopovers/Forced Layovers ................................................................................... 9

5 Lodging Making Hotel Reservations ......................................................................................................... 10 Hotel Selection Guidelines .......................................................................................................... 10 Hotel Upgrades ............................................................................................................................ 10 Long-Term Hotel Stays ................................................................................................................ 10-11 Room Guarantee ......................................................................................................................... 11 Hotel Cancellation Procedures .................................................................................................... 11 Hotel Payment Procedures ......................................................................................................... 11 Hotel Frequent Guest Programs ................................................................................................. 11

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Table of Contents iii Updated March 2016

6 Rental Car Preferred Rental Car Suppliers ................................................................................................... 12 Rental Car Guidelines ................................................................................................................. 12-13 Making Rental Car Reservations ................................................................................................. 13 Rental Car Insurance – Domestic ............................................................................................... 14 Rental Car Insurance – International........................................................................................... 14 Rental Car Cancellation Procedures ........................................................................................... 14 Returning Rental Cars ................................................................................................................. 14 Rental Car Payment Procedures ................................................................................................. 14 Rental Car Accidents ................................................................................................................... 14 Rental Car Club Memberships .................................................................................................... 15

7 Other Transportation Personal Car Usage Guidelines .................................................................................................. 16 Reimbursement for Personal Car Usage .................................................................................... 16 Ground Transportation To and From Terminals .......................................................................... 16-17 Rail Travel.................................................................................................................................... 17 Class of Service - Rail Travel ...................................................................................................... 17

8 Personal/Vacation Travel Combining Personal with Business Travel .................................................................................. 18 Use of Company-Negotiated Hotel and Rental Car Rates for Personal Travel .......................... 18 Miscellaneous Vacation Expenses .............................................................................................. 18 Personal/Vacation Travel Billing Procedures .............................................................................. 18

9 Telephone Usage Business Phone Calls.................................................................................................................. 19 Personal Phone Calls While Traveling ........................................................................................ 19 Hotel Telephone Usage ............................................................................................................... 19 Mobile Devices Usage ................................................................................................................. 20 Use of Mobile Devices While Driving .......................................................................................... 20

10 Meals and Entertainment Personal Meal Expenses ............................................................................................................. 21 Business Meal Expenses ............................................................................................................ 21 Business Meals Taken With Other Employees ........................................................................... 21 Entertaining Customers ............................................................................................................... 22 Spending Limits for Meals ........................................................................................................... 22-23 Per Diems for Meals .................................................................................................................... 23 Payment for Meals ....................................................................................................................... 24

11 Payment Methods Individual Corporate Credit Card and Traveler Benefits ............................................................. 25 Individual Corporate Credit Card Distribution .............................................................................. 25 Use of Individual Corporate Credit Card ..................................................................................... 26 Personal Use of Corporate Credit Card ...................................................................................... 26 Individual Corporate Credit Card Billing and Payment Responsibility ........................................ 26 Reporting Lost/Stolen Cards ....................................................................................................... 27 Emergency Replacement Cards ................................................................................................. 27 Cardholder Employee Termination .............................................................................................. 27 Business Use of Personal Charge/Credit Card ........................................................................... 27 Cash Advances ........................................................................................................................... 27 Cash Advance Limits ................................................................................................................... 28 Cash Advance Fees .................................................................................................................... 28 Cash Advance Settlement ........................................................................................................... 28

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Table of Contents iv Updated March 2016

Outstanding Cash Advances ....................................................................................................... 28

12 Expense Reporting Timing for Expense Report Completion and Submission ........................................................... 29 Approval/Authorization Process .................................................................................................. 29 Documentation Requirements ..................................................................................................... 29-30 Acceptable Receipts .................................................................................................................... 30 Unacceptable Receipts ............................................................................................................... 30 Expensing Meals by Category ..................................................................................................... 30 Guidelines for Tips and Gratuities ............................................................................................... 31 VAT Reclaim ................................................................................................................................ 31 Converting Foreign Currencies ................................................................................................... 31 Incorrect or Incomplete Expense Reports ................................................................................... 32

13 Other Reimbursable Expenses……………………………………………………… ....... 33

14 Other Non-Reimbursable Expenses………………………………………….. .............. 34-35

15 Group and Meeting Travel Group Travel Definition ................................................................................................................ 36 Responsibility .............................................................................................................................. 36 Authorization Procedures for Group Travel ................................................................................. 36 Sponsoring a Group Event .......................................................................................................... 37 Booking Instructions for Group Travel ......................................................................................... 37 Expense Reporting for Group Travel ........................................................................................... 37

16 Enterprise Florida A2.1 Expense Reimbursement policy.. .................................... 38-44

17 Travel Information Addendum EFI Authorized Travel Services Provider .................................................................................... 45 Lost or Excess Baggage ............................................................................................................. 45-46 Foreign Currency Tips ................................................................................................................. 46 Additional Travel Insurance Purchased by Travelers ................................................................. 46

18 General Travel Safety Tips Air Travel ..................................................................................................................................... 47 Upon Arrival at your Destination .................................................................................................. 47 Hotel Fire Safety Tips .................................................................................................................. 48

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Travel Authorization 1

TRAVEL MANUAL

Purpose

This document provides guidelines and establishes procedures for employees incurring business travel and entertainment expenses on the company’s behalf.

Objectives:

• Assurance that all funds are being used in an appropriate manner.

• Ensure all employees have a clear and consistent understanding of policies and procedures for business expenses.

Scope

This travel policy applies to all employees of Enterprise Florida and direct affiliates.

Specific business units may, at their discretion, impose greater control than required by this policy.

Responsibility and Enforcement

The traveler is responsible for complying with the travel policy.

The company will reimburse employees for all reasonable and necessary expenses incurred while traveling for the purpose of conducting authorized company business.

The company assumes no obligation to reimburse employees for expenses that are not in compliance with this policy.

Travelers who do not comply with this travel policy may be subject to:

• delay or withholding of reimbursement

• disciplinary action

Who to Call on Travel Policy Issues

Any questions, concerns or suggestions regarding this travel policy may be directed to your immediate supervisor. Issues requiring clarification should be referred to the Vice President Finance & Accounting (VP).

Definition of Terms:

Appropriate Member of Senior Management: The Senior Manager that is up the chain of command from the traveler, who may or may not be the traveler’s supervisor.

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Travel Authorization 2

Authorized Travel - travel authorized in compliance with the procedures set forth in this manual.

Senior Managers: President/CEO, Executive Vice President/COO, Chief Marketing Officer, Chief of Staff, and Senior Vice Presidents (SVP)

Traveler: Enterprise Florida staff member, business consultant, or contracted service provider on authorized travel.

Spending Authorization: Travel expenditures may be authorized as established in Accounting Policy A-2 on Purchasing/Cash Disbursements.

TRAVEL AUTHORIZATION

Travel Authorization

According to the procedures established by the Senior Manager for members of his/her dept., anticipated overnight or airfare travel may be reviewed and pre-approved by the traveler’s supervisor.

Assigning Authorization Authority

Senior Managers may assign travel authorization responsibility to their direct reports within the limits of the direct report’s spending authorization per Accounting Policy A-2.

Expense Amount

$0 to $1,000

Authorization Required

signature of at least a Director

$0 to $2,500 signature of at least a Sr. Director or VP of the business unit

$0 to $5,000

Over $5,000

Signature of at least the division’s SVP

JOINT signature of the unit’s SVP and the President/CEO, Executive Vice President/COO of EFI or the direct affiliate.

The President/CEO, Executive Vice President/COO, have unlimited (up to $100,000) signing authority. Items approved by any one of these officers do not require an additional signature.

Over $100,000

Non-budgeted items must be approved by the Executive Committee of EFI or its direct affiliate Budgeted items, grants, and administered contracts need only be reported to the Executive Committee.

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Travel Arrangements 3

TRAVEL ARRANGEMENTS

Reservation Procedures

Travelers should make reservations as early as possible to take advantage of advance purchase discounts.

Travelers may use the EFI designated travel booking tool which is currently American Express Travel Link.

The traveler may make travel arrangements directly or use a travel agent or on-line service in order to obtain a lower cost fare. The EFI designated travel booking tool should be contacted first for travel that is more than 15 days in the future to attempt to obtain the lowest rate.

Group and Meeting Travel Reservation Procedures

Any department planning to sponsor meeting travel or that has a group of 10 or more people traveling to the same destination should consider coordinating their travel through a single point of contact.

Passports and Visas

For assistance in obtaining visas/passports, travelers may request the forms from the EFI designated travel service, their county courthouse, the US post office or on-line at:

http://www.americanpassport.com/

International Travel Advisories

Employees should exercise due care when traveling to countries for which a travel advisory has been issued by the State Department Contact your travel agent or the US Department of State to obtain current advisories.

Current Travel Warnings and Consular Information Sheets may be found on the web at:

http://www.travel.state.gov/travel/cis_pa_tw/tw/tw_1764.html

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Domestic Air Travel 4

DOMESTIC AIR TRAVEL

Making Air Travel Reservations

The traveler’s Senior Manager will determine if a Travel Authorization Form must be approved prior to booking any travel services.

When making travel reservations and not using an agent familiar with state travel policies, the traveler should be aware of the following:

Employee travelers are expected to use the lowest logical airfare available based on the following parameters:

• Routing requires no additional interim stop each way.

• Routing allows the employee to fulfill all scheduling requirements.

Airline Class of Service

All domestic air travel must be in coach class unless otherwise specified herein (see below) using in-state fares within the state of Florida where available.

Business class is acceptable when it does NOT cost more than the lowest available coach fare.

Fees to upgrade to comfort seats and for the selection of seats are permitted up to $50 per trip (or $25 per leg if applicable). Fees in excess of this amount may be reimbursed if such fee is the lowest cost seat available on the flight, or if the fees are approved by the traveler’s supervisor prior to booking and a sufficient business description is provided with the expense report submission justifying the additional cost.

Upgrades for Domestic Air Travel

Upgrades at the expense of the company are NOT permitted.

Upgrades are allowed at the traveler’s personal expense. Upgrades should NOT be charged on the corporate charge/corporate credit card. Misuse of the corporate card may result in suspension of its use by the employee.

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Discounted Airfares

The following types of low fare alternatives should be considered in determining the lowest logical airfare:

• Specially-negotiated fares

• Non-refundable fares

• Penalty fares

• Advance purchase fares

• Promotional/bulk fares

Airline Frequent Flyer Programs

Traveling employees may retain frequent flyer program benefits. However, participation in these programs must not influence flight selection that would result in cost to the company beyond the lowest available airfare, as defined in this policy.

Airline Security Issues

Travelers are responsible for complying with all airport security requirements.

Travel on Charter or Private Aircraft

Air transportation generally is restricted to regularly scheduled and certified commercial airlines.

Employees may travel on charter aircraft under exceptional circumstances with the approval of the appropriate member of Senior Management or if arrangements are made at no cost to the company.

Lost or Excess Baggage

The ultimate responsibility for retrieving and compensating lost baggage lies with the airlines. The company will not reimburse travelers for personal items lost while traveling on business. Additional assistance for baggage is provided in the Travel Information Addendum at the end of this Guide.

Employees will be reimbursed for excess baggage charges only in the following circumstances:

• When traveling with heavy or bulky materials or equipment necessary for conducting business in furtherance of the purpose of the approved travel. (i.e. trade shows, missions)

• The excess baggage consists of company records or property required to be transported by the purpose of the approved travel.

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Denied Boarding Compensation

Airlines occasionally offer free tickets or cash allowances to compensate travelers for delays and inconveniences due to overbooking, flight cancellations, changes of equipment, etc.

Travelers may volunteer for denied boarding compensation only if:

• Flying outside normal working hours

• The delay in their trip will not result in any interruption or loss of business

Travelers who are involuntarily denied boarding due to airline delays or flight cancellations should request a travel voucher or reimbursement from the airline. Traveler should apply the voucher towards a ticket to the original business related destination. If the business trip is cancelled, the voucher must be submitted to the Accounting department. Failure to follow these procedures may result in the traveler losing reimbursement for the cost of the flight.

Overnight Delays

Should an airline delay necessitate an overnight stay, the traveler must first attempt to secure complimentary lodging from the airline. If unsuccessful, the traveler may contact his/her travel agent for assistance. (See Emergency Travel Assistance). If the airline will not absorb the hotel cost due to a forced delay, EFI or its direct affiliate will reimburse the hotel cost. Hotel reservations should be made incompliance with the lodging requirements in this guide.

Cancellations

When a trip is canceled after the ticket has been issued, the traveler should inquire about using the same ticket for future travel.

Travelers can reuse airline tickets if airfare eligibility requirements are met.

Unused/Voided Airline Tickets

Unused airline tickets or flight coupons must never be discarded or destroyed as these documents have cash value.

• To expedite refunds, the traveler should contact the ticket provider to determine procedures.

• Unused tickets must NOT be sent to the airlines.

• Travelers must NOT include unused tickets with their expense reports.

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• Non-refundable tickets the value of which may be used toward another flight will not be reimbursed until they are used, unless authorized by an appropriate member of Senior Management.

Air Travel Payment Procedures

Air travel costs should be paid using:

• Individual corporate charge/corporate credit card,

• Personal charge/credit card.

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International Travel 8

INTERNATIONAL TRAVEL

Advance Planning for International Travel

Employees anticipating travel to international destinations must notify their Supervisor and their travel services provider as far in advance as possible to receive the lowest possible fares.

For purposes of this policy, international travel includes:

• All destinations outside the Continental U.S. (including Hawaii/Alaska)

Airline Class of Service for International Travel

Employees are expected to use the lowest logical airfare available. Fees to upgrade to comfort seats or for the, selection of seats are permitted up to $50 per trip (or $25 per leg if applicable). Fees in excess of this amount may be reimbursed if such fee is the lowest cost seat available on the flight, or if the fees are approved by the traveler’s supervisor prior to booking and a sufficient business description is provided with the expense report submission justifying the additional cost.

Employees may use an upgraded class in the following instances:

• When it does NOT cost more than the lowest available Coach fare.

• When prior approval has been given by the appropriate member of Senior Management for flights of more than 10 hours in length or overnight trips.

Priority should be given to U.S. flag carriers whenever possible.

Upgrades for International Air Travel

Upgrades are allowed at the traveler’s personal expense.

Lowest Airfare Definition for International Travel

Travelers are expected to book the lowest possible logical airfare based on the following parameters.

• Carrier is a US flag carrier, schedule permitting.

• Routing allows the traveler to fulfill all schedule requirements

•

Discounted Airfares for International Travel

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International Travel 9

The following types of discounted airfares should be considered in determining the lowest logical airfare:

• Specially-negotiated rates

• Advance purchase fares

• Minimum stay excursion fares

• Promotional/bulk fares

Travelers are discouraged from taking:

• First class

• Prohibited fares

• Consolidator tickets

• Lower cost non-preferred carriers

• Company-owned aircraft

• Private or charter aircraft

Preferred Airlines for International Travel

Travelers must use the company’s “preferred” carriers whenever possible. For international travel, the company’s preferred airlines are U.S. flag carriers.

International Stopovers/Forced Layovers

Hotel accommodations for forced international layovers due to scheduling should be at the carrier’s expense whenever possible.

If the carrier will not absorb the hotel cost due to a forced international layover, the company will absorb the cost.

A hotel reservation should be made in compliance with the lodging requirements in this guide.

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Lodging 10

LODGING

Making Hotel Reservations

Travelers are expected to use negotiated government or preferred rates whenever possible.

Travelers will be reimbursed for actual and reasonable hotel room costs.

Hotel Selection Guidelines

Hotel room charges will be reimbursed based on actual charges. A hotel receipt must be submitted for reimbursement. If room and expense per diem costs exceed the rate published on the following websites please provide justification for the overage. International travelers are strongly encouraged to use published State Department per diem rates as a guide. To identify the most current per diem rates for international travel please go to:

http://aoprals.state.gov/content.asp?content_id=184&menu_id=78

Hotel selection should be appropriate to the location and nature of the business.

The types of hotels the traveler is expected to reserve are as follows:

• Business hotels, i.e., hotels with business or government rates.

• Properties where there are company-negotiated rates.

• Hotel with a group negotiated rate at conferences and conventions.

• The least expensive property in a similar hotel category.

Hotel Upgrades

Travelers are entitled to stay in a single room with a private bath. Travelers may accept room upgrades to suites or executive floor rooms if the upgrade is at no additional cost to the company.

Travelers may stay at a suite at the company’s expense:

• With authorization from Senior Management.

• If needed to conduct business required due to the purpose of the travel, e.g., meetings, interviews, etc., with prior approval from the appropriate Senior Manager.

Long-Term Hotel Stays

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Lodging 11

Travelers staying a week or longer must inquire about weekly/long-term discounts.

Room Guarantee

Unless otherwise instructed, all rooms will be guaranteed for late arrival with the traveler’s personal charge/credit card or corporate charge card.

Hotel Cancellation Procedures

Travelers are responsible for canceling hotel rooms and must contact:

• The designated agency/travel department that made the reservation, or

• The hotel if the booking was made directly with the hotel.

Travelers will be held responsible and will not be reimbursed for “no-show” charges unless there is sufficient proof that the billing is in error and/or extenuating circumstances existed. Justification for non-use of a reserved room should be explained on the traveler’s expense report.

Travelers should request and record the cancellation number in case of billing disputes.

Travelers should note that cancellation deadlines are based on the local time of the property.

Hotel Payment Procedures

Hotel costs should be paid using:

• Corporate charge/corporate credit card, or

• Personal charge/credit card

Hotel Frequent Guest Programs

Many hotels have frequent guest programs that reward travelers with free accommodations in exchange for a given number of paid room nights at the hotel. Awards from such programs may be retained for personal use by travelers. However, participation in these programs must not influence hotel selection which would result in cost beyond the company’s specially negotiated rate, if any.

Any membership fees associated with joining these programs are not reimbursable.

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Rental Car 12

RENTAL CAR

Preferred Rental Car Suppliers

The company has negotiated rates with the following preferred car rental companies:

Company

Avis

Discount Code

R070900 (business rentals)

R070990 (leisure rentals)

Budget Corporate Discount (BCD) U361329

Enterprise Car Rental NA07134 (business rentals)

NA07135 (leisure rentals)

Hertz CDP Discount Code 2006482

Cars should be refueled before returning them. If the car is not refueled, the rental car company will charge a “refueling fee”, which is generally much more expensive.

Rental Car Guidelines

Travelers should rent a car TO their destination when they would still be able to fulfill all schedule requirements and:

• Driving is more cost-effective than airline or rail travel, and/or

• Travel time by car is less than two hours, and/or

• Transporting large or bulky material

Travelers may rent a car AT their destination when:

• It is less expensive than other transportation modes such as taxis, airport limousines and airport shuttles and still allows the traveler to meet scheduling requirements

• More than three (3) employees are traveling together

Rental Car

A. If a rental car is needed, employees are expected to use reasonable prudence in selecting a rental car provider. Unless pre-approved by Senior Management, or when transporting multiple passengers or equipment, employees are expected to rent up to an intermediate class automobile.

B. Travelers should consider the cost of renting a car versus driving their own.

Unless other factors exist, travelers should consider renting a car when the business miles are expected to exceed 90 miles in a single day. Travelers

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Rental Car 13

should also consider the length of the trip in determining whether to rent a vehicle or drive their own.

If the traveler selects the more costly alternative, they should include an explanation that includes the reason for selecting the more costly option. To assist staff with this decision, following is the mileage reimbursement from Orlando to each of our offices:

C. For domestic rentals, rental car insurance is included when the traveler pays

with the corporate AMEX card. If another credit card is used, the traveler must confirm coverage and is personally responsible for any loss or damage.

D. For international rentals, the traveler should accept all insurance coverage

provided. E. Travelers must have a valid driver’s license in good standing and maintain the

state required minimum insurance.

Making Rental Car Reservations

Rental car reservations may be made through AMEX Travel Link or directly through the rental car company.

When picking up a rental car, travelers should check with the rental car agent for any promotional/governmental rates, last-minute specials or free upgrades.

At the time of rental, the car should be inspected and any damage found should be noted on the contract before the vehicle is accepted.

From To: Miles Round trip

Mileage cost @$0.565/mi.

Orlando office Coral Gables office 486 $274.59 Orlando office Tallahassee office 520 $293.80 Orlando office Tampa (airport area) 176 $ 99.44 Orlando office Jacksonville 280 $158.20

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Rental Car 14

Rental Car Insurance – Domestic

The company has made provisions for insuring rental cars against damage.

Rental car insurance is included when you pay for the car with your corporate American Express card.

If a traveler is not paying with an EFI issued American Express card, the traveler should confirm coverage is provided and is personally responsible for any loss or damage.

Rental Car Insurance – International

Travelers should accept all insurance coverage when renting cars in a foreign country.

Rental Car Cancellation Procedures

Travelers are responsible for canceling rental car reservations and must contact the travel service that made the reservation or the car company.

Travelers should request and record the cancellation number in case of billing disputes.

Returning Rental Cars

Every reasonable effort must be made to return the rental car:

• To the original rental city unless approved for a one-way rental

• Intact (i.e., no bumps, scratches or mechanical failures)

• On time, to avoid additional hourly charges

• With a full tank of gas, subject to the applicable rental contract.

Rental Car Payment Procedures

Unless otherwise instructed, rental cars should be paid using:

• Corporate charge/corporate credit card

Rental Car Accidents

Should a rental car accident occur, travelers should immediately contact:

• The rental car company

• Local authorities, as required

• Human Resources

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Rental Car 15

Rental Car Club Memberships

Travelers may participate in rental car club membership programs that are free of charge or at their own expense.

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Other Transportation 16

OTHER TRANSPORTATION

Personal Car Usage Guidelines

Employees may use their personal car for business purposes:

• If it is less expensive than renting a car, taking a taxi or alternate transportation, and/or

• If it is more timely than taking public transportation, and/or

• When transporting company goods for delivery, and/or

• When transporting clients

Frequent use of personal vehicles for business is not encouraged. It is the personal responsibility and requirement of the owner of a vehicle being used for business to carry adequate insurance coverage for their protection and for the protection of any passengers.

Reimbursement for Personal Car Usage

When traveling to an off-site meeting (i.e. for EFI staff or other business purpose), or to the airport before departing on a business trip, only those miles and tolls that are greater than the normal business commute to the travelers office location will be reimbursed.

Travelers will be reimbursed for business usage of personal cars at the Internal Revenue Service rate of $0.565 per mile.

Travelers that have an EFI car allowance may claim reimbursement of $.565 per mile for business travel more than 30 miles round trip.

Employees will not be reimbursed for any repairs to their personal car even if these costs result from business travel.

To be reimbursed for use of their personal car for business, travelers must provide on their expense report:

• Purpose of the trip, including who meeting was with

• Date and location

• Receipts for tolls, parking (note: up to $10.00 in tolls may be covered without receipts)

Ground Transportation To and From Terminals

Employees traveling to the same location should share ground transportation including to and from the airport whenever possible.

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Other Transportation 17

The most economical mode of transportation should be used to and from airports. The following modes of transportation should be considered:

• Trains, subways, taxis

• Hotel and airport shuttle services

• Personal car

The use of helicopter or private or charter planes is not permitted unless provided free of charge.

Rail Travel

Rail travel should be used:

• When it is less expensive than air travel

• When it adds no more than one and a half hours to total travel time

• When it is more timely than driving

Class of Service - Rail Travel

Domestic rail travel will be in Coach class.

First class/reserved seating for domestic rail service may be utilized:

• When accompanying a client

• When the upgrade is at no extra cost

• At the traveler’s expense

• For travelers with medical conditions

• For rail travel over eight (8) hours

International rail travel will be in class of service appropriate for that country.

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Personal / Vacation Travel 18

PERSONAL/VACATION TRAVEL

Combining Personal with Business Travel

Personal/vacation travel may be combined with business travel:

• Provided there is no additional cost to the company

• With approval from the traveler’s supervisor and the appropriate member of Senior Management.

Use of Company-Negotiated Hotel and Rental Car Rates for Personal Travel

Company-negotiated hotel and rental car rates may be used for personal/vacation travel with prior approval from the appropriate member of Senior Management. Corporate insurance coverage will NOT apply when using company-negotiated rental car rates for personal/vacation travel.

Miscellaneous Vacation Expenses

The company will NOT pay for vacation expenses and personal expenses.

Personal/Vacation Travel Billing Procedures

Personal/vacation travel billing must NOT be combined with business travel billing under any circumstances.

The corporate charge/corporate credit card must NOT be used to pay for personal/vacation travel. Mis-use of the corporate card may result in revocation of all charge privileges.

Any personal expense, incurred while on business travel, that is included on the corporate card billing, i.e. hotel incidental expenses, will not be reimbursed via an employee expense report. If the expenses were paid by EFI as part of group lodging the employee must reimburse EFI for any personal expenses.

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Payment Methods 19

TELEPHONE USAGE

Business Phone Calls

Travelers will be reimbursed when using their personal telephone calling cards or home phone for business phone calls

• Which are reasonable and necessary for conducting business

• With an original copy of the bill attached to the expense report form

Personal Phone Calls While Traveling

Except in the case of an emergency, employee/travelers will NOT be reimbursed for any personal telephone calls made from:

• air phones

• rail phones

Travelers will be reimbursed for personal telephone calls while traveling on overnight business; however, such telephone calls should not exceed an average of 30 minutes per day.

In extenuating circumstances, calls over this limit must be explained on the expense report and approved by the traveler’s supervisor.

Hotel Telephone Usage

When staying at a hotel, travelers should inquire as to the property’s local and long distance phone rates. Travelers should avoid making phone calls that have an added surcharge.

To avoid substantial charges added by hotels to telephone bills, travelers should:

• Use a charge/credit card, calling card, public phone or call collect whenever possible.

• Press the # key after each call and wait for the tone, then dial the next phone number when making several long distance calls.

• Use an 800 number for business calls whenever possible.

• Call pre-arranged office contact collect if possible

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Payment Methods 20

Mobile Devices Usage

Mobile device usage and reimbursement is governed by EFI policy A3 Mobile Devices.

Authorization for on-going use of a company mobile device or reimbursement of a personal mobile device must be approved by Senior Management. While Company-issued mobile devices are provided to employees for the purpose of conducting official business, the Company recognizes that there may be occasional instances in which an employee may need to use the phone for brief personal phone calls. In those instances, all personal calls must be circled each month on the phone bill, whether they were covered by the plan minutes or exceed the plan minutes. Reimbursement to EFI is not required if miscellaneous personal use (not related to overnight travel) is not excessive or results in an additional charge. EFI will reimburse employees for business calls on their personal device at the rate of $.25/minute up to $40.00 per month. To be reimbursed the employee must submit the itemized cellular phone bill indicating all business related calls.

If this cost to the employee is consistently over $40.00 per month, a corporate mobile device may be issued for business purposes.

Use of Mobile Devices While Driving Excerpt from Policy A3 Mobile Devices EFI encourages the safe use of mobile devices while driving, which includes use of a headset or other hands-free device. While EFI recognizes there may be a business need to use mobile devices, safety must always be the first priority. EFI does not encourage their employee’s mobile device usage when operating a moving vehicle. Staff must also follow Florida law while operating a motor vehicle, which prohibits manually typing into a mobile device or sending or reading data in such a device including texting, e-mailing and instant messaging, while operating a motor vehicle. EFI will also provide hands-free devices to all employees with Company-issued mobile devices.

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Payment Methods 21

MEALS AND ENTERTAINMENT

According to Policy A2.1 Expense Reimbursement (attached)

Personal Meal Expenses

Personal meals are defined as meal expenses incurred by the traveler when dining alone on an out-of-town business trip.

Travelers will be reimbursed for personal meal expenses:

• On actual cost basis, up to the maximum allowed with a restaurant receipt, or itemized receipt for food bought at a non-restaurant, e.g. grocery store; or

• On a per diem basis with no receipt

Business Meal Expenses

Business meals are taken with clients, prospects or associates during which a specific business discussion takes place. Employees will be reimbursed for the reasonable cost of the meal. The expense report must state who was present and the purpose of the discussion. Employee meals with other EFI employees are not business meals for purposes of this category.

Business Meals Taken With Other Employees

Employees will be reimbursed for business-related meals taken with other employees only in the following circumstances:

• When a business related guest is present.

• When conducted or authorized in writing by the appropriate member of Senior Management for testimonial, reward, recognition or other appropriate business purpose.

• When employees are traveling and one employee pays for all employee meals. In this instance, the cost per employee meal may not exceed the established spending limits and each employee’s name must be noted on the receipt.

Meal costs for social occasions, such as secretary’s day, etc. are not classified as business meals or entertainment expenses and requesting reimbursement for such meals is strongly discouraged.

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Payment Methods 22

Entertaining Customers

Entertainment expenses include events such as nightclubs, theater and sporting events, whereby a business discussion takes place during, immediately before, or immediately after the event.

Travelers will NOT be reimbursed for entertaining clients, unless approved in advance by the appropriate member of Senior Management.

Spending Limits for Meals

Travelers will be reimbursed for actual documented meal expenses (i.e., with proper and original receipts for one person) up to the maximum daily allowances, as listed below.

Standard

• breakfast $ 15.00

• lunch $ 20.00

• dinner $ 35.00

Breakfast may only be claimed when travel begins before 6:00 am and extends beyond 8:00 am. Lunch may only be claimed when travel begins before 12:00 noon and extends beyond 2:00 pm. Dinner may only be claimed when travel begins before 6:00 pm and extends beyond 8:00 pm or when travel occurs during nighttime hours due to special assignment.

Travelers should include the printout of the per diem for the location to which they traveled with their expense report as well as the International Per Diem form allocating the per diem to each meal category.

Travelers participating in Enterprise Florida group meals where there is a self-pay option (ie: Stakeholder’s Dinner, Committee, or Task Force Dinners) will be reimbursed for the full cost of their meal, not including alcoholic beverages, if any, tax and gratuity when in excess of the maximum daily allowance. No additional approval is required under these circumstances. However the employee is required to submit an itemized receipt along with any credit card receipt for these meals.

Note: In instances where valid entertainment expenses have been approved and incurred for purchase of alcoholic beverages these expenses will be segregated and paid for from private/corporate funds, never from state funding dollars.

If a meal exceeds the maximum daily allowance, a traveler may be eligible for additional reimbursement if the following conditions are met:

A less costly restaurant alternative was not available. The amount requested to be reimbursed is equal to the cost of the entrée, non-

alcoholic beverage, tax, and gratuity which exceeded the maximum allowable rate allowed.

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Payment Methods 23

An itemized receipt showing the cost of each item is attached to the expense report.

Under these circumstances, the traveler must complete and submit an Authorization to Exceed Allowed Reimbursement form. This form must be signed by his/her supervisor and submitted to Accounting with the expense report. An itemized receipt must be submitted along with any credit card receipt for the meal; otherwise reimbursement will be limited to the standard domestic rate.

Per Diems for Meals

Employees may be paid for a meal using the per diem rates instead of actual expenses while traveling. Receipts are not required for per diem meals. Complimentary/sponsored meals should not be claimed and should not be stated on the reimbursement form. The domestic per diem amount is:

• $6 for breakfast, $11 for lunch, $19 for dinner.

International travel, including meals, shall be reimbursed at the most current published rate and must be identified on the Expense form.

International per diems may be found at the Department of State site:

http://aoprals.state.gov

Breakfast may be claimed when travel begins before 6:00 am and extends beyond 8:00 am. Lunch may be claimed when travel begins before 12:00 noon and extends beyond 2:00 pm. Dinner may only be claimed when travel begins before 6:00 pm and extends beyond 8:00 pm or when travel occurs during nighttime hours due to special assignment.

Travelers abusing the per diem policy will be required to produce receipts for all meals and be subject to disciplinary action.

Tipping for Meals

Tips included on meal receipts will be reimbursed, not to exceed the spending guidelines noted above.

The total cost of meals plus tips should NOT exceed the daily maximum meal allowance noted above.

Tips should be no more than approximately 20% of the bill.

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Payment Methods 24

Payment for Meals

Whenever possible, the original itemized receipt, rather than the credit card slip or tear tabs, shall be submitted with the expense report. The credit card receipt should be included with the itemized receipt if it also includes a tip.

Copies of credit card receipts printed in your credit card bill will not be acceptable for expense reporting. Use an in Lieu of Receipt form if the original receipt is lost, and attach a credit card billing receipt to substantiate the expense.

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Payment Methods 25

PAYMENT METHODS

Individual Corporate Credit Card and Traveler Benefits

The company’s primary corporate charge/corporate credit card vendor is American Express.

Under the terms of the company’s agreement with American Express travelers receive the following benefits:

• travel accident insurance

• baggage insurance

• rental car insurance

• traveler reward program - Optional: Individual enrollment fees covered by employee

• Global Assistance Program

• Use of bank card as identification

Twenty-four hour customer service is available by calling (800) 528-2122 An American Express representative will assist you with:

• monthly statements and balances

• emergency services

• billing disputes

• location of nearest American Express office

• card member benefits and services

Information on corporate card balance and account information may also be found on line at www.americanexpress.com. Account payments may be made on line at any time.

Individual Corporate Credit Card Distribution

All employees who meet the following criteria should apply for a corporate charge/corporate credit card.

• Travelers who take at least two (2) trips per year

Applications for the issuance of a corporate credit card must be approved by the appropriate member of Senior Management.

For corporate charge credit card information or application instructions, employees should contact the Director, Accounting at (407) 956-5623.

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Payment Methods 26

Use of Individual Corporate Credit Card

Whenever feasible, travelers should use the American Express corporate charge card to pay for all business related:

• Air travel

• Lodging

• Car rental

• Rail travel

• Meals and entertainment

• Miscellaneous Travel and entertainment expenses

Annual fees for all corporate charge/corporate credit cards will be reimbursed by the company.

Personal Use of Corporate Credit Card

Corporate credit cards are intended primarily for business use.

Corporate credit cards may NOT be used for personal expenses except in case of an emergency that occurs while on business travel.

Misuse of corporate charge card may result in disciplinary action.

Individual Corporate Credit Card Billing and Payment Responsibility

Employees are responsible for paying their corporate credit card bill promptly each month.

All corporate credit card bills are due and payable upon receipt.

Extended payments will not be accepted.

The Director, Accounting reviews the monthly delinquency reports and spending analysis report by cardholder.

Failure to pay the account promptly may result in:

• Notification sent to employee’s supervisor and/or appropriate member of Senior Management,

• Suspension or cancellation of charge privileges, or

• Other disciplinary actions.

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Payment Methods 27

Reporting Lost/Stolen Cards

A lost or stolen corporate charge/corporate credit card must be reported as soon as the traveler discovers it is missing. Data on stolen charge or credit cards indicates that unauthorized use of stolen cards is greatest in the first few hours after the theft.

To report a lost or stolen card, please call (800) 528-2122 and also report the loss to Accounting.

Emergency Replacement Cards

For an emergency replacement card call the American Express corporate card division.

Cardholder Employee Termination

Upon termination of employment, all corporate cardholders must:

• Cut the corporate card in half and send to Accounting.

• Promptly reconcile, account for and pay any remaining balances

If personal charges are found on the corporate card, EFI may deduct these expenses due on the corporate card from the employee’s owed vacation time before final check is issued.

Business Use of Personal Charge/Credit Card

Personal charge or credit cards may be used for business travel. Travelers will NOT be reimbursed for annual fees on personal charge or credit cards.

Cash Advances

Cash advances are allowed for incidental expenses, up to $25 per day for domestic travel and up to $100 per day for international travel unless additional justification is given. Cash advances in excess of these amounts to be used to pay for interpreters are permitted.

Approved cash advances should be submitted to accounting a minimum of 5 working days prior to travel to allow for processing.

An employee should have only one cash advance outstanding at any given time. Failure to account for a prior advance may result in the denial of any request for additional cash.

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Payment Methods 28

Cash Advance Limits

The amount of cash requested should be the minimum necessary to cover anticipated out-of-pocket expenses not chargeable to the employee’s corporate card.

The suggested amounts advanced are as follows unless there are extraordinary circumstances:

• $25 per day for domestic travel up to

• $250 per trip for domestic travel.

• $100 per day for international travel up to

• $1,000 per trip for international travel, unless additional funds are requested to pay for interpreters

These amounts are based upon the presumption that most travelers have corporate cards that can be used to pay for hotel, rental cars and airfare.

Cash Advance Fees

Fees for cash advances from credit cards/ATMs will NOT be reimbursed unless used in lieu of using a currency conversion service. Fees paid to the bank for an ATM withdrawal during international travel are often less expensive than foreign currency exchange fees.

Cash Advance Settlement

All cash advances should be accounted for on a travel expense report within fifteen (15) days after completion of the trip. If the total expense is greater than the amount advanced, the difference will be returned to the employee within the standard reimbursement schedule after receipt of the travel expense report.

An unused cash advance must be returned immediately when a trip is canceled or postponed more than five (5) days.

New cash advances may not be made until prior advances are accounted for.

Outstanding Cash Advances

Failure to properly account for cash advances may result in:

• Notification sent to employee’s supervisor and appropriate member of Senior Management

• Suspension or cancellation of cash advance privileges

• Non-reimbursement for out-of-pocket expenditures

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Expense Reporting 29

EXPENSE REPORTING

Timing for Expense Report Completion and Submission

EFI staff should complete and submit all expense reports via the Concur on-Line Expense Reporting Tool. Travelers should file expense reports no later than fifteen (15) calendar days after completion of each trip. Supervisors and their Senior Manager may be notified if employees consistently submit expense reimbursements more than 30 days late.

Approval/Authorization Process

The level of authority required for approving travel and entertainment related expenses are as follows:

The traveler’s supervisor must approve any expense reimbursement. Additional approval may be required.

No employee is authorized to approve his or her personal, or a superior’s travel expense report.

No employee is authorized to approve a peer’s travel expense report unless authorized by his or her mutual supervisor.

Each employee expense report will be reviewed by the Accounting department for:

• Approval

• Business purpose

• Correct totals

• Supporting documentation and receipts

• Policy compliance

Documentation Requirements

Travelers must provide the following information in order to be reimbursed for expenditures:

• Exact amount and date of the expense

• Original receipt with item breakdown if available

EFI policy requires receipts for:

• All expenditures in excess of $10.00

Travelers should submit the following documentation along with their expense report form:

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• Air/Rail – original passenger coupon/eticket or invoice/itinerary. A receipt coupon for travel may be obtained from the airlines when checking in for the flight, if a receipt is not available otherwise.

• Hotel – hotel folio plus charge/credit card receipt or other proof of payment

• Car Rental –receipt

• Meals – Cash register receipt (no restaurant tear tabs or copies of receipts) for actual expense reimbursement

• Receipts for all miscellaneous expenses over $10

When a receipt is not available, a full explanation of the expense and the reason for the missing receipt is required to be submitted on the In Lieu of Receipt form.

Actual bills/receipts must be submitted whenever possible; photocopies will be acceptable only with a detailed explanation as to why the original is unavailable.

Receipts should include the name of the vendor, location, date and dollar amount.

At the discretion of the Accounting Department, any expense report submitted without the proper documentation may be returned to the traveler for completion. The revised/corrected expense report would need to be corrected, then resubmitted for review.

Acceptable Receipts

The following receipts are acceptable:

• Original receipt completed by the vendor

• Charge/credit card billing statement (original) for services charged directly to the bill such as long distance services and fees.

• Original phone bill

Unacceptable Receipts

The following receipts are NOT acceptable:

• Restaurant tear tabs, unless no other type of receipt is available.

• Credit card billing statement, for services not billed directly to the card submitted in lieu of an actual receipt.

Expensing Meals by Category

Each meal (breakfast, lunch, dinner) must be recorded separately on the expense report.

Within a single day, individual meals may be reimbursed with actual receipts or on a per diem basis.

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Guidelines for Tips and Gratuities

Please check local customs for appropriate tipping when traveling abroad. Some hotels and restaurants include a gratuity in the price, in which case a tip is not necessary unless the service has been exceptional.

Lavish or unreasonable gratuities will not be reimbursed.

VAT Reclaim

Value Added Tax (VAT)

Some European countries levy a value added tax (VAT) on the items that you buy. In some places, if you ship your purchases home, the VAT can be waived. Other places may require you to pay the VAT, but have a system to refund all of it or part of it to you by mail. You can ask the store clerk for an application to apply for the refund. The VAT refund is only for items that you can ship or carry with you. It does not apply to food, hotel bills, or other services. Because the rules for VAT refunds vary from country to country, you should check with the country's tourist office to learn the local requirements. (From Department of State Publication 10542,Bureau of Consular Affairs, April 1998)

Value Added Taxes may be “reclaimed” for certain business expenses incurred overseas, particularly in Europe and Canada.

In addition to the standard receipts required for expense reports, international travelers must save original receipts for the following business expenses: lodging, entertainment, gasoline, meals, car rentals, rail travel, conferences, trade shows, and training courses.

All receipts must be submitted within 30 days upon return:

• with the traveler’s expense report

• to designated company contact fiscal department

Only original, itemized receipts are acceptable for VAT reclaim purposes. Charge/credit card receipts are not acceptable.

Converting Foreign Currencies

Expenses in foreign currencies must be converted into U.S. dollars as follows:

• Expenses incurred and paid directly by the traveler are converted at the actual exchange rate in Concur, supported by receipts such as foreign currency exchange receipts or charge/credit card billing statements.

Travel expenses should be organized by trip or country on the expense report.

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Incorrect or Incomplete Expense Reports

Expense reports that are incorrect or incomplete:

• will be returned to the traveler at the discretion of the Accounting Dept., with notice to the approver and supervisor, for corrective action

• will result in delay or non-reimbursement of specific items

Disregard for company policy or altering of receipts can result in disciplinary action or termination.

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Other Reimbursable Expenses 33

OTHER REIMBURSABLE EXPENSES

Travelers will be reimbursed for the following miscellaneous expenses:

• air freight for business purposes

• bottled water (one per day while traveling)

• business office expenses (fax, copy services, etc.)

• business phone calls

• corporate charge/corporate credit card annual fees

• currency conversion fees

• fare penalty (non-peak ticket for peak travel, ticket change fees)

• gasoline - rental cars only

• ground transportation

• laundry/dry cleaning/suit pressing for trips exceeding five(5) days

• overnight delivery/postage

• parking

• seminar fees

• taxis

• telegrams/telexes

• tolls (that exceed tolls normally paid in the course of daily travel to the office)

• traveler’s check fees

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OTHER NON-REIMBURSABLE EXPENSES

Unless approved by the President and CEO or the Executive Vice President/COO, the following miscellaneous expenses will NOT be reimbursed:

• airline club membership dues

• alcoholic beverages, except as authorized as a part of business meals or entertainment

• annual fees for personal charge or credit cards

• baby-sitting

• barbers and hairdressers

• car washes

• clothing (i.e., socks, pantyhose)

• corporate charge card delinquency fees/finance charges

• country club dues

• excess baggage charges, except as noted for company materials

• expenses for travel companions/family members

• expenses related to vacation or personal days while on a business trip

• golf fees, unless part of authorized business entertainment

• gum, candy or cigarettes

• health club facilities, saunas, massages

• helicopter services for airport transfers

• in-flight telephone charges

• laundry/valet services when less than 5 days travel

• loss/theft of personal funds or property

• lost baggage

• luggage and briefcases

• magazines, books, newspapers, subscriptions (unless pre-approved)

• mileage and travel costs that are equal to or less than the regular commuting miles/costs to/from the office

• mini-bar refreshments (unless used for a meal)

• movies (including in-flight and hotel in-house movies)

• non-compulsory insurance coverage.

• “no show” charges for hotel or car service

• optional travel or baggage insurance (unless for EFI property valued above $1,000)

• personal accident insurance

• personal entertainment, including sports events

• personal property insurance

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• personal telegrams

• personal telephone calls in excess of daily limit

• personal toiletries

• pet care

• postage costs, postcards (unless business related)

• professional memberships (unless pre-approved)

• rental car upgrades

• repairs due to automobile accidents

• routine automobile maintenance/tune-ups

• shoeshine

• snacks or other meals outside of breakfast, lunch or dinner

• souvenirs/personal gifts

• spouse/companion travel

• tobacco products

• traffic fines

• transportation to/from office for normal commute

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Group and Meeting Travel 36

GROUP AND MEETING TRAVEL

Group Travel Definition

Group travel is defined as 10 people or more gathering in a common place for a common purpose. This includes travel for:

• training meetings

• sales meetings (national/international, divisional, regional, district)

• new product introductions

• board of directors meetings

• management meetings

• professional/technical meetings

• incentive trips

• trade shows

• conventions

These group travel guidelines apply any time travel arrangements of any kind (air travel, lodging or ground transportation) are made for 10 or more people, regardless of the actual site of the meeting or conference.

These guidelines apply to the selection of meeting site, the arrangements for the travel participants and the arrangements for all other aspects of the meeting.

These guidelines establish the quality standards, financial parameters and other guidelines associated with planning, travel and related expenses.

Responsibility

Individual meeting planners, meeting sponsors and travelers are responsible for ensuring all group travel is consistent with these guidelines.

Supervisors are responsible for ensuring that group travel arrangements of staff members are consistent with these guidelines.

Authorization Procedures for Group Travel

All group travel must be coordinated by a meeting coordinator established for that event. Any unbudgeted meetings must have prior written approval of the appropriate member of Senior Management in consultation with the Chief Operating Officer.

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Sponsoring a Group Event

Before deciding to hold a meeting or sponsor a conference, employees must explore lower cost alternatives, such as teleconferencing or video-conferencing, to conduct their business.

All meetings/events are expected to use the most cost-effective means available to accomplish the required business objectives.

Once a meeting/event has been authorized and budget approved, the meeting coordinator is responsible for ensuring:

• site and hotel selection

• event development

• air travel and land negotiations

• meeting/conference coordination

• group air ticketing

• participant registration

• on-site meeting/conference operation

• final bill reconciliation and payment

Booking Instructions for Group Travel

Arrangements should be made as far in advance as possible to take advantage of the most favorable rates for both air travel and lodging.

Expense Reporting for Group Travel

Whenever possible, travelers must pay for their own expenses and submit an expense report for reimbursement.

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ENTERPRISE FLORIDA A 2.1 EXPENSE REIMBURSEMENT POLICY

Policy: The following provisions govern the reimbursement of all travel and entertainment expenses and miscellaneous charges incurred on behalf of Enterprise Florida. Purpose: To ensure that all travelers manage EFI funds prudently and are able to receive prompt reimbursement for their business related travel expenses. Scope: This policy is applicable to Enterprise Florida, Inc. (EFI) and its economic development services subcontractors. Definitions: Appropriate Member of Senior Management: the member of the Senior Management Team that is directly up the chain of command from the traveler. The person may or may not be the employee’s direct supervisor. Complete and Accurate Expense Reports: Complete and accurate expense reports include all necessary receipts, authorization forms and authorizing signatures. Charge card statements or any portion of the statement are not considered appropriate receipts and will not be accepted as documentation. Submission of the expense report to Accounting without the supervisor’s authorizing signature is considered incomplete and will not be processed until the supervisor’s signature is received. Senior Management: President/CEO, Executive Vice President/COO, and each division’s Senior Vice President. Traveler: EFI staff member; or, business consultant or contracted service provider on authorized travel.

I. Travel Authorization All travelers have the responsibility of ensuring that their manager is aware of and approves of any travel before the expenses are incurred. Formal travel authorization forms may be used at the manager’s discretion.

II. Rental Car

A. If a rental car is needed, travelers are expected to use reasonable prudence in selecting a rental car provider. Unless pre-approved by the Division’s Senior Vice President, travelers are expected to rent standard to intermediate automobiles.

B. Travelers should consider the cost of renting a car versus driving their own. Unless other factors exist, travelers should consider renting a car when the business miles are expected to exceed 90 miles in a single day. Travelers should also consider the length of the trip in determining whether to rent a vehicle or drive their own. To

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Addendum 39

assist staff with this decision, following is the mileage reimbursement from Orlando to each of our offices:

C. Travelers should use the EFI corporate AMEX card for all car rentals. For domestic

rentals, rental car insurance is included when the traveler pays with the corporate AMEX card and travelers should decline any additional coverage.

D. For international rentals, the traveler should accept all insurance coverage provided. E. Travelers must have a valid driver’s license in good standing and maintain the state

required minimum insurance.

III. Reimbursement for Personal Car Usage

A. Employees may use their personal car for business purposes:

1. If it is less expensive than renting a car, taking a taxi or alternate transportation; and/or

2. If it is more timely than taking public transportation; and/or 3. When transporting company goods for delivery; and/or 4. When transporting clients

B. Frequent use of personal vehicles for business is not encouraged. It is the

personal responsibility and requirement of the owner of the vehicle being used to carry adequate insurance coverage for their protection and for the protection of any passengers. Travelers must also possess a valid driver’s license. See Item F below.

C. Travelers will be reimbursed for business usage of personal vehicles at the

Internal Revenue Service rate of $0.565 per mile. This represents reimbursement for all vehicle related expenses including, but not limited to, gasoline, wear and tear, and personal auto insurance.

D. Business usage is defined as only those miles and tolls that are greater than the

normal business commute to the traveler’s office location.

E. Travelers will not be reimbursed for any repairs to their personal vehicle even if these costs result from business travel.


Mileage cost @$0.565/mi


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Addendum 40

F. The traveler must be able to present upon request, a valid Florida driver’s license and proof of the state required minimum insurance if a personal vehicle is used for business travel.

G. A car allowance is available for Senior Management. In addition to the car allowance, they may claim an additional reimbursement of $0.565 per mile for business usage of a personal vehicle for all trips greater than 30 miles roundtrip.

H. Travelers are encouraged to check each state’s law governing the use of

electronic devices while driving when traveling to these destinations.

IV. Meals and Entertainment

A. Personal Meal Expenses are defined as meal expenses incurred by the traveler when dining on an out-of-town business trip but not at a business meal.

B. Travelers will be reimbursed for personal meal expenses:

1. On an actual costs basis, up to the maximum allowed, with an actual

receipt not a credit card invoice. Alcohol is not reimbursable.

Standard Domestic Rates: Breakfast $15.00 Lunch $20.00 Dinner $35.00

2. On a per diem basis with no receipt (EFI employees only, not available to business consultants or contracted service providers). Domestic per diem rates are always:

Breakfast $ 6.00 Lunch $11.00 Dinner $19.00

3. Breakfast may only be claimed when travel begins before 6:00 am and extends beyond 8:00 am. Lunch may only be claimed when travel begins before 12:00 noon and extends beyond 2:00 pm. Dinner may only be claimed when travel begins before 6:00 pm and extends beyond 8:00 pm or when travel occurs during nighttime hours due to special assignment.

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Addendum 41

4. International per diems are reimbursed at the most current published rate located at:

http://aoprals.state.gov/content.asp?content_id=184&menu_id=78 Travelers should include the printout of the per diem for the location to which they traveled with their expense report as well as the International Per Diem form allocating the per diem to each meal category.

C. Travelers participating in Enterprise Florida group meals where there is a self-

pay option (ie: Stakeholder’s Dinner, Committee, or Task Force Dinners) will be reimbursed for the full cost of their meal, not including alcoholic beverages, if any, tax and gratuity when in excess of the maximum daily allowance. No additional approval is required under these circumstances. However the employee is required to submit an itemized receipt along with any credit card receipt for these meals.

D. If a meal exceeds the maximum daily allowance, a traveler may be eligible for additional reimbursement if the following conditions are met:

1. A less costly restaurant alternative was not available. 2. The amount requested to be reimbursed is equal to the cost of the

entrée, non-alcoholic beverage, tax, and gratuity which exceeded the maximum allowable rate allowed.

3. An itemized receipt showing the cost of each item is attached to the expense report.

Note: In instances where valid entertainment expenses have been approved and incurred for purchase of alcoholic beverages these expenses will be segregated and paid for from private/corporate funds, never from state funding dollars.

Under these circumstances, the traveler may complete and submit an Authorization to Exceed Allowed Reimbursement form. This form must be signed by his/her supervisor and submitted to Accounting with the expense report. An itemized receipt must be submitted along with any credit card receipt for the meal; otherwise reimbursement will be limited to the standard domestic rate.

E. As it is the state’s policy to only reimburse at the per diem rate, management has

determined that the portion of the meal expenses in excess of the per diem should be paid from the corporate account. As it would be time consuming and a strain on EFI’s resources to determine these expenses as they arise, management has determined that a monthly transfer will be made from the corporate to the operating account to cover any amounts in excess of the state allowance.

F. Business Meals are taken with clients, prospects or external associates during which a specific business discussion takes places. Employees will be reimbursed for the reasonable cost of the meal with an itemized receipt. The

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Addendum 42

expense report must list the names of all people present at the meal and the business purpose of the meal which may include entertainment expenses. Alcohol may be reimbursed as part of a business meal. Travelers should indicate the alcoholic beverages since this is required to be paid from the corporate account. Meals composed of only EFI employees may not be submitted for reimbursement as a Business Meal.

G. Meals including other employees will only be reimbursed in the following

situations:

1. Employees are included in a Business Meal, which also includes business prospects or clients.

2. A member of Senior Management conducts or authorizes in writing a

meal for testimonial, reward, recognition or other appropriate business purpose. In this instance, meal costs will be paid from the corporate account.

3. Employees are traveling together and one employee pays for all employee meals. In this instance, the cost per employee meal should not exceed the established spending limits and each employee’s name must be noted on the receipt. In general, employees are encouraged to get separate bills when dining with others. A supervisor should not approve a meal on their employee’s expense report if their own meal is included. The most senior ranking employee should pay for the meal when EFI staff members are traveling together to prevent any conflicts.

4. Food or decorations purchased for staff celebrations (i.e.: birthdays, graduation, retirements, baby showers) are not reimbursable. Staff should pay for these personally. Any exceptions must be approved in advance by the President/CEO or the EVP/COO.

Holiday staff meals, quarterly birthday cakes, and United Way campaigns are reimbursable with SVP Administration or VP, Human Resources approval and up to but not to exceed the approved budget for each event. These items are paid from the corporate account, not state funds.

F. Entertainment expenses may be included for reimbursement only for purposes

noted in Section (E) Business Meals. These expenses may include alcohol, door charges, ticket costs and travel fees associated with the entertainment event.

G. Employees will not be reimbursed for meals if they are provided as a part of

an event. Employees will not be reimbursed for meals purchased by non-employees.

V. Individual Corporate Charge Card Responsibility

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Addendum 43

A. Company issued charge cards are available to any employee who travels more than twice per year. EFI will reimburse the employee for the annual membership fees (excluding any reward program fees). If an employee chooses to use their personal card for business expenses, EFI will not pay annual card fees and will not be responsible for paying for additional travel related insurance.

B. Corporate charge cards may not be used for personal expenses except in the

case of an emergency that occurs while on business travel. C. Employees are responsible for paying their corporate issued AMEX cards in full

promptly each month. All corporate card bills are due and payable upon receipt. Extended payments will not be allowed. The current status of the employee’s corporate card may be found and monitored at www.americanexpress.com

D. Enterprise Florida does not reimburse for late payments or finance charges. E. Misuse of the company issued charge card may result in:

1. Notification sent to employee’s supervisor, appropriate member of

Senior Management for that division and the Vice President, Human Resources & Office Services.

2. Suspension or cancellation of charge privileges, or 3. Other disciplinary action as deemed necessary by the Senior Manager

and the Vice President, Human Resources and Office Services.

VI. Reimbursement of Expenses

A. Expense reports should be submitted within 15 business days of the travel or event. All expense reports should be submitted through the Concur On-Line Expense Reporting Module.

B. Non-travel related expenses such as iPhone applications or equipment must be

approved in advance by the appropriate level of senior management and or IT.

C. Items such as shirts or other articles of clothing with the EFI logo should be purchased by the Marketing & Communications department and not by the traveler directly. Per IRS guidelines, uniforms or clothing provided by an employer are excludable from taxable income if they are 1) specifically required as a condition of employment and 2) they are not worn or adaptable for general use as ordinary clothing.

D. Original receipts should be scanned and attached to the electronic expense report. Any writing on the back of the receipt should be scanned or copied to a separate piece of paper. Stapling, highlighting and taping over the print on receipts should be avoided as it will damage the print and make the receipts unreadable.

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Addendum 44

E. In the event of a holiday, board meetings, or other extenuating circumstances, payment processing may be delayed. In this event, the Office Managers for each location will be notified with the anticipated date for processing.

F. If corrections to any expense reports are needed, the expense report will be

returned to the traveler for correction as soon as possible, to enable rapid re-submission to Accounting.

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Addendum 45

TRAVEL INFORMATION ADDENDUM

Staff may make travel arrangements directly, through a travel agent or on-line service in order to obtain a lower cost fare.

Emergency Travel Assistance for Users of American Express Travel Link

Travelers may use the 24-hour, toll-free Travel Link phone number 800-331-5026. Identify yourself from Enterprise Florida for any changes.

Group and Meeting Travel Reservation Procedures

Any department planning to sponsor meeting travel or that has a group of 10 or more people traveling to the same destination should consider coordinating their travel through a single point of contact.

Ticket Delivery

Travelers must have an e-ticket with their name and travel itinerary provided by the ticket writer, whether a travel agent or on-line service.

Unused/Voided Airline Tickets

Unused airline tickets or flight coupons must never be discarded or destroyed as these documents have a cash value.

To expedite American Express refunds, unused or partially used airline tickets must be returned to the staff travel coordinator within same week that they were issued by Friday, 9:00 AM, to be refunded without additional fees; after that fees are incurred.

Lost or Excess Baggage

The ultimate responsibility for retrieving and compensating lost baggage lies with the airlines. The company will not reimburse travelers for personal items lost while traveling on business. Measures that can be taken to minimize baggage losses include:

• Always carry valuables (e.g., jewelry, laptop computers, cameras, etc.) on board the aircraft (note: ensure that no restricted objects are included)

• Always carry important and/or confidential documents on board the aircraft.

• Clearly tag luggage with name, address and phone number.

• Retain baggage claim receipts for checked-in luggage.

• Purchase luggage insurance. (Costs vary and are the responsibility of the traveler.)

Follow these procedures if your bags are lost en route:

• Obtain a lost luggage report form from an airline representative in the baggage claim area.

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Addendum 46

• Itemize the contents of your bag, including receipts wherever possible.

• Include a copy of your airline ticket and baggage claim stubs.

• Keep a copy of the report, airline ticket and claim stubs.

Foreign Currency Tips

Before returning from a trip abroad, international travelers should note the following advice on foreign currency conversion:

• Change unused local currency back to U.S. dollars before departing the foreign country. The conversion rate is usually better abroad.

Try to spend all coins before leaving. Once out of the country, coins are difficult to change. Note that in certain countries, such as Russia, travelers must turn in all local currency before departing.

Travel Insurance Coverage

Under the terms of the company’s agreement with American Express, all travelers automatically receive the following insurance when travel is charged to the individual’s corporate American Express card or business travel account:

• comprehensive, 24-hour, door-to-door business trip insurance coverage of $200,000.

• baggage insurance of up to $1,250 for carry-on luggage and up to $500 for checked luggage

In addition, full-time employees traveling on company business are covered by the following insurance policies at no cost to the traveler:

• Worker’s compensation

• Life insurance provided by the company: Two(2) times salary

Additional Travel Insurance Purchased by Travelers

Expenses for additional travel insurance coverage will NOT be reimbursed by the company.

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Addendum 47

GENERAL TRAVEL SAFETY TIPS

The following suggestions will provide a more safe and pleasurable trip for travelers:

Air Travel

• Plan to arrive at the airport at least two hours before domestic flights and three hours before international flights. To avoid having to stand in line, ask the travel counselor to include boarding passes with your ticket whenever possible.

• Make sure you have a picture identification card with you and easily accessible.

• Do not leave luggage unattended or with someone you do not know.

• Never agree to carry anything on board or in your luggage for someone else.

• Put your name and company address on your luggage. For added security, use tags that conceal your name and address.

• Remove all old destination tags to avoid misdirection by baggage handlers.

• Carry all medication, important business papers, some toiletries and a change of clothing in carry-on luggage in case the checked luggage is misplaced.

• Do not pack knives, scissors, nail clippers, tweezers, non-electric razors, weapons or other restricted items in carry-on baggage.

Upon Arrival at your Destination

• Leave the airport as soon as possible after deplaning. Disturbances are more likely to occur in public airport lobbies.

• Beware of people claiming to be cab drivers in unmarked cars. Use licensed taxi or limousine services only.

• If renting a car, get maps in advance or from the rental car counter and clearly write out the directions from the airport to the hotel. Stop to ask for directions only in well-lit public areas. Keep the phone number of your destination with you.

• If unfamiliar with the local language, carry a card or matchbook with the hotel’s name and address. This can be shown to a cab driver or police officer should you become lost.

• In developing countries, try to reserve rooms on the third through the sixth floor of the hotel. Disturbances and burglaries are most likely to affect ground and second story levels. In some countries, fire rescue equipment does not reach above the sixth floor.

• Do not leave a sign on the hotel room door for maid service as it announces an empty room for would-be thieves.

• Be sure to carry your credit/charge card company’s telephone number in case the card is lost or stolen. Always report losses immediately.

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Addendum 48

Hotel Fire Safety Tips

While major hotels are equipped with smoke alarms, sprinkler systems and emergency evacuation instructions, fire safety awareness will increase a traveler’s chance of survival in the unlikely event of a hotel fire.

When staying at a hotel...

• Check fire exits. Find the two nearest exits to your room and count the doorways so you can feel your way in the dark and smoke.

• Place your key on the night stand and your shoes by the bed so you can find them easily.

In case of fire or smoke...

• Put on your shoes, grab your room key and head for the door. If there’s any smoke in your room, get on your hands and knees and crawl. The fresh air you need to survive is near the floor.

• Feel the door and the knob. If they are cool open the door and check the hall. If they are hot, do not open the door. Stay in your room and fight the fire.

• If the hallway is clear, close the door behind you and walk to the nearest exit. Never take an elevator in case of fire! Keep your room key with you in case the hallway becomes blocked and you need to return to your room.

• If the hall has smoke in it, close the door and crawl to the nearest exit. Stay against the wall so that you can count the doorways.

• When walking down the stairwell, hold the handrail to keep your balance.

If you must stay in your room to fight the fire...

• Open your window to vent smoke. If your window doesn’t open, do not break it unless absolutely necessary. You may have to close it later if smoke is outside. Never jump from the third floor or above, chances are good that you won’t survive the fall.

• Call the desk to tell them you’re in your room. Hang a sheet out the window to signal firemen.

• Fill the tub with water and turn on the bathroom vent fan.

• Wet some sheets or towels and stuff cracks of your door to keep out smoke. Use your ice bucket to bail water on the door. If the walls are hot, bail water on them. Keep everything wet.

• If there is a fire outside, get everything combustible away from the window.

• A wet towel tied around your nose and mouth is an effective filter if you fold it in a triangle and put the bottom corner in your mouth.

• Don’t panic! Keep fighting the fire until rescue arrives.

Have a safe and productive trip

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POLICY A1 - REVENUE AND CASH RECEIPTS Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

Policy: It is the policy of EFI to review, post, and deposit all incoming revenues for state funds, trade shows, private sector contributions, registration fees, sponsorships and any other such purposes in a manner consistent with applicable state or federal law, including generally accepted accounting principles.

Purpose: To establish a procedure for the receipt and handling of all moneys through the U.S. mail, express mail, credit card receipts, or through direct delivery to the program areas.

Scope: This procedure is applicable to Enterprise Florida, Inc. and all affiliates where cash, checks, credit cards, money orders, or other monetary instruments are received.

Definitions

EFI Invoice: A document prepared by Accounting that indicates the payer, amount of payment and other applicable information.

Program Manager: This shall be the person designated to manage an event, show, program, or other activity which generates revenues to be collected by EFI.

Receipt and/or Revenues: Any form of payment or contribution (e.g., cash, money order, check, or credit card) due to and received by EFI. Examples of various types of revenues are:

1) Private sector contributions 2) Event sponsorships 3) Event fees 4) Investor fees 5) State of Florida’s Department of Economic Opportunity appropriated funds 6) Employees reimbursing personal expenses 7) Federal grants 8) Revenue from contracts for services

Who is Responsible for Collecting Revenues Generated by a Program Division

EFI and Program Division

Program managers responsible for programs that generate revenues are responsible for requesting an invoice from Accounting, and working with Accounting to collect and reconcile all program related fees.

EFI Accounting

Accounting is responsible for the creation of the invoices and the development and monitoring of an accounting system for the proper recording, depositing, and disbursement of collected revenues. The EFI Accounting system operates within the guidelines and principles of generally acceptable accounting principles.

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Accounting will deposit, record and disburse revenues to the fund, program and/or vendor identified by the Program Manager.

Processing for Collection and Recording of Incoming Revenues Generated by a Program Division

EFI Program Divisions

1) Program managers should take all measures possible to collect revenues in advance of a show, event or other activities that generate funds to be collected by the program.

2) Credit card payments should be processed through the CVENT system whereby the cardholder registers for the event then enters their own credit card information. EFI staff members should not accept credit card information directly for processing.

3) For payments made via wire transfer, the Program Manager should contact Accounting for specific banking instructions.

4) Accounting is responsible for maintaining a copy of the invoice with all appropriate documentation, e.g., log of all people being invoiced and amount, program number, purpose of program, dates of events, etc.

5) When revenues are received by the Program Manager, they should be promptly recorded so that an accurate list of payments received and amount is maintained.

6) The Program Manager will forward checks, cash, money orders or other forms of payment to Accounting. Included with the payment should be information indicating the program manager’s name, show/event name, program number and accounting code.

If more than one receipt is being submitted to Accounting, a log of all receipts, payers and amounts should be submitted.

EFI Accounting

1) Accounting will establish and assign organizational codes and program numbers for the proper recording and depositing of revenues.

2) Accounting will provide program account code numbers to program managers for events, shows or other programs when contacted. This list will be maintained and updated by Accounting.

3) All revenues will be recorded in the EFI accounting system to the program account code number and organizational code identified by the program manager.

4) All revenues will be deposited in an EFI bank account for disbursement to the appropriate program upon receipt of purchase order, contract payment and/or invoice from the program manager.

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SPECIAL NOTE: NSF checks will not be re-deposited. The NSF check will be returned to the Program Manager for collection. A $30.00 returned items fee may be assessed.

Revenue and Cash Receipts Policy

Processing of Deposits and Recording of Revenues in Accounting Software

1) The Accounting Assistant opens all the mail and collects all incoming deposits, then delivers the checks and remittance advice to the Accountant to secure.

2) On a weekly basis or as deemed necessary, the Accountant sorts the checks by account and

scans them for deposit via the Wells Fargo CEO Desktop Deposit portal. The scanner automatically stamps each check “Electronically Deposited”.

3) The Accountant tapes each check to the deposit verification and codes each check with the

proper G/L code and description then enters the deposits into Great Plains (accounting software). He/she enters Bank Transaction, Bank Deposit in the entry window in the system, where He/she selects the appropriate checkbook for the deposit (operating, grant, corporate, etc.). He/she records the offsetting account (credit side) into the system. Once complete she reviews the entry online and makes any corrections if necessary. He/she then closes this window which will prompt the reports to print.

4) After the Bank Transaction Posting Journal report prints, the Accountant reviews the report for

accuracy. He/she then opens the Bank Deposit window and posts the bank deposit. The reports are then clipped together and forwarded to the Director, Accounting for review. Once reviewed, the Director, Accounting returns the package to the Accountant to either make corrections or for a final inspection. Then the deposit is forwarded to the Accounting Assistant for scanning into Onbase and filing in the appropriate bank account binder.

5) For all credit card transactions, the Accountant prints the batch report from the credit card

processor, agrees to the bank statement, and enters the transactions as detailed in numbers 3 and 4 above.

State of Florida Appropriated Funds

1) The State legislature votes each year on how much funding it will appropriate to Enterprise Florida and then drafts a contract between the State and EFI. Once the appropriations bill is final, EFI and the State draft contracts to clarify which appropriation items will go to EFI for specific services. The Director of the State of Florida’s Department of Economic Opportunity, Division of Strategic Business Development (“DEO”) and the President/CEO of Enterprise Florida sign the contracts.

2) According to the contract guidelines, on a quarterly basis EFI sends a letter or invoice to the

DEO stating how much it owes EFI for the quarter. This procedure applies to FSF similarly; however, timing is monthly rather than quarterly. After the State designee approves the invoice, an ACH transmission is sent to EFI for that quarter. The Director, Accounting records the

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payment on a schedule, which lists the DEO payments for the year. A copy of the ACH or payment verification is also kept in the appropriate bank account deposit book.

3) During FY 2007-2008 fiscal year, EFI set up ACH transactions with the state in order to receive

payments in a timelier manner. The OPERATING account was designated to receive all incoming ACH transactions from the state since the state can only process payments to one bank account per tax identification number. Once the funds are received and are available, Accounting staff transfers any non-operating funds to the appropriate bank account on the next available banking day as work schedules permit.

4) According to Florida Statutes section 288.90151 (2015), Enterprise Florida is required to raise no less than 100 percent of the state’s operating investment. For FY 2015-16 that is $28,459,500. The corresponding number for FY 2016-17 is also $28,459,500. Accounting tracks and reports this match quarterly as part of the quarterly report package to DEO.

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POLICY A1.1 – BANK ACCOUNTS Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

Purpose: To establish a policy for the use of Enterprise Florida’s three primary bank accounts. Policy: EFI shall use separate bank accounts in accordance with the designated use and source of the funding in order to ensure compliance with applicable State of Florida regulations. Scope: This procedure is applicable to Enterprise Florida, Inc. (EFI). Definitions: Contributions- cash investments received from private sector businesses to supplement EFI operations. Participation Fees- fees received by EFI from event participants. Sponsorships- cash investments given to EFI to help offset some or all of the expenses associated with a program, publication or event. Surplus Sponsorships- sponsorship cash received in excess of the expenses associated with a particular program, publication, or event. Procedures: Operating Bank Account

A. Deposits made to the Operating account are funds that are restricted in use by EFI’s contracts with the State of Florida. Deposits include funds from the following revenue sources:

Funds received from the State of Florida’s Department of Economic Opportunity,

Division of Strategic Business Development (“DEO”) for EFI operations. These funds are derived from General Revenue, the State Economic Enhancement and Development Trust Fund, and the International Trade and Promotion Trust Fund, or as designated in the appropriations bill.

Participation fees Sponsorship revenue

B. Expenses paid from the Operating account are normal business operation expenses in the execution of EFI’s role as the principal economic development organization for the State of Florida. The DEO contract and Florida statutes restrict the type of business expenses that may be paid from the Operating account. Expenses that are disallowed from being paid through Operating account funds are all expenses associated with lobbying the Florida legislature, the Florida judicial branch, or any state agency (i.e. lobbyist contracts);

Corporate Bank Account

A. Deposits made to the Corporate account are funds that are unrestricted in use. This includes funds from the following revenue sources:

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POLICY A1.1 – BANK ACCOUNTS Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

1. Cash contributions, with the limitations described below 2. Net surplus from private sector sponsorships 3. Management fees from affiliated entities 4. Interest and dividends 5. Funds derived from processing Public records requests

Contributions from EFI contractors can be deposited to the Corporate account only if the contract or contracts with that contributor represent no more than 5% of the value of all EFI contracts and no more than 5% of the contractor’s revenues. The base on which to calculate 5% of EFI’s contracts is the total contract amount for the previous fiscal year. Total contracts include professional service agreements, including foreign office arrangements, but exclude grants and pass-through appropriations. Contributions from a past or current recipient of funds received through an EFI awarded grant program or pass through appropriation will not be deposited into the Corporate account.

Expenses paid from the Corporate account include expenses that are normal legal business expenses, however EFI’s DEO contract and the Florida statutes prohibit the use of appropriated dollars for some of these purposes. Expenses always paid from this account are expenses related to lobbying the Florida legislature, the Florida judicial branch, or any state agency (i.e. lobbyist contracts). EFI’s management has also elected to pay from the Corporate account all mobile device costs, travel reimbursements in excess of the state’s approved per diem for meals and mileage, as well as certain operating expenses that the state has deemed as generally non-allowed (see Reference Guide for State Expenditures at:

http://www.myfloridacfo.com/aadir/reference_guide/Reference_Guide_For_State_Expenditures.pdf

The Corporate account is unrestricted in use. As such, EFI management may use these funds at its discretion for any purpose.

Grant Account

A. Deposits made to the Grant account are funds received through an EFI contract with the DEO and are specifically designated for grant programs and pass-through appropriations. Any interest earned on these funds is remitted to the State on a quarterly basis net of any account analysis or bank fees.

B. Expenses paid from the Grant account are for grant program and pass-through appropriation

disbursements assigned by the DEO.

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POLICY A1.2 – PRIVATE CONTRIBUTIONS Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

Policy: It is the policy of Enterprise Florida, Inc. (EFI) to account for cash contributions and in-kind contributions provided to EFI by private companies in accordance with SFAS No. 116. Purpose: To establish a procedure for the proper accounting for private contributions and to establish guidelines for in-kind investments made for the purpose of securing a seat on the EFI Board of Directors. Scope: This procedure is applicable to all investors on the Board of Directors or any affiliated committees, task forces or councils. Definitions: Cash Contributions: Cash contributions shall mean payments of cash by a private company to any of the companies defined in this policy as Enterprise Florida, Inc. (EFI) as a result of a solicitation, and shall include, but not be limited to, payments of cash as an unrestricted gift, a restricted gift, a grant from a private non-governmental entity, sponsorships, cooperative advertising, commissions or royalties earned, membership fees, proceeds from bond offerings, or any other payments in cash not expressly excluded herein. Private Company: Private Company shall mean any business or entity that is not a state or local government agency. Solicitation: Solicitation shall mean any form of verbal or written request for contributions made by any director, officer, employee, or agent representing Enterprise Florida, Inc., or representing any of the programs initiated, developed, or maintained by Enterprise Florida, Inc. Enterprise Florida, Inc.: For the purposes of this policy, the term Enterprise Florida, Inc. (EFI) shall mean each of the companies that are directly or indirectly incorporated for the purposes of carrying out the legislative intent of Chapter 288, Florida Statutes.

1) Enterprise Florida, Inc. 2) Florida Development Finance Corp. 3) Florida Opportunity Fund 4) FOF PA II 5) Florida Sports Foundation

In-Kind Contributions: In-Kind Contributions are the reasonable value of equipment, materials or other property, or anything of value having an attributable money value in any form, including goods or services rendered, including but not limited to rental value of office space, the reasonable value of time of the contributor, intellectual property, etc. Contributions of services shall be recognized if the services received (a) create or enhance non-financial assets or (b) require specialized skills, are provided by individuals possessing those skills, and would typically need to be purchased if not provided by donation. The definition of in-kind contributions per Statement of Financial Accounting Standards (SFAS) No. 116, Accounting for Contributions Received and Contributions Made is as follows: “Contributions or services shall be recognized if the services received (a) create or enhance non-financial assets or

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(b) require specialized skills, are provided by individuals possessing those skills, and would typically need to be purchased if not provided by donation.” An in-kind contribution that generates economic benefit to the state, but would not be performed if a donation was not given, should be classified as in-kind per the Statutory definition but not classified as such per SFAS 116. An example of in-kind contributions that EFI recognizes and reports to the state but are not recorded on EFI’s audited Financial Statements are Workforce Florida’s Quick Response Training employer contributions per §445.004 Florida Statutes and are allowed to be counted toward the match. In-Kind Investment: Goods or services given to EFI in exchange for a Board of Directors seat. Value must be verifiable by the EFI Executive Committee. Recording of cash contributions: The SVP of Strategic Partnerships and the Director, Investor & Partner Development are responsible for soliciting corporate contributions. If a corporation acknowledges interest in investing in Enterprise Florida, a commitment letter is sent detailing the terms of the donation. The corporation’s contact person is asked to sign the commitment letter in acknowledgment of the terms, return the original to Enterprise Florida, and retain a copy for its files. The original is maintained by the Director, Investor & Partner Development. When a cash contribution is received, a copy of the check is sent to the Director, Investor & Partner Development and a copy is filed with the Corporate bank account deposit. Accounting updates the invoice log. The investor lapsing schedule and the investors-to-date schedule are maintained throughout the year in Salesforce. The check is deposited into the Corporate Account and simultaneously entered into the accounting software. The Strategic Partnerships department and/or the President/CEO send the corporation a “thank you” letter and update the commitment schedule.

Non-Qualified Cash Contributions

Cash received by EFI from a contract entered into with a state or local government agency is not counted as a private contribution.

Recording of in-kind contributions

Once a year, the Director, Accounting requests all employees to forward to the accounting office a list of any donated goods and services they may be aware of. After the information is gathered, the Director, Accounting determines if the goods or services meet the definition in SFAS No. 116. If a donation meets the recognition criteria, an in-kind donation form is sent to the organization or individual who made the donation. The organization or individual is asked to give a description and value of the donation. A journal entry is made debiting the appropriate expense and crediting contributions revenue for the proper amount.

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Receiving in-kind investments for EFI Board seats

Background: Seats on the Board of Directors for EFI are either appointed, according to legislative guidelines in §288.901 F.S., or at-large, approved by the voting members of the Board. The current procedure is that most at-large seats are awarded after a minimum investment of $50,000.

In-kind Investment Requirements:

The Investment must be for goods or services that EFI would purchase if the investment was not made.

The value of the Investment must be certified by standard rate sheets, invoices or an objective evaluation.

In-kind investments may be revalued at less than face value (i.e. fair value) and still be considered for a Board seat.

Process:

In-kind investments may be accepted by the President/CEO in return for a Board seat. Recommendations are made to the Executive Committee of the Board of Directors for approval and inclusion on the consent agenda.

The Board of Directors approves the proposed member to the Board via the consent agenda. An EFI staff member will be assigned to verify that the services or goods are received as promised and annually recommends renewal of the Board seat to the President/CEO.

In-kind investments may be accepted by the President/CEO or a Senior Vice President at the value assigned by the donor for the donor’s tax reporting.

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POLICY A2 – PURCHASING AND CASH DISBURSEMENTS Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

Policy: It is the policy of EFI to procure goods and services in a manner that complies with all applicable internal processes and procedures, adhere to budget requirements, and meet the quality and operational needs of the company. Purpose: To establish effective internal control and obligate the organization by establishing and maintaining a budget and accounting procedure for purchasing authorized goods and services; to identify approved methods of procurement; and to review, record, and issue checks in a manner consistent with applicable state or federal law including generally accepted accounting principles. Scope: This procedure is applicable to Enterprise Florida, Inc. (EFI).

Definitions Invoice: A document prepared by the vendor that indicates the description and price of goods or services provided and other applicable information. All payments must be preceded by an invoice. Purchase Order (PO): A document prepared by EFI which lists the item(s) being purchased with the description, price and appropriate approval. A PO is required for the purchase of technology and technology-related equipment and supplies, promotional items valued over $1,000, and any other items for which the department deems necessary. Purchase orders may also be used for economic development goods and services as approved by the Manager of Contracts & Compliance. Note: this policy does not apply to ongoing contractual relationships for which a recurring monthly billing arrangement has been made and the contract for sevices has been approved and signed by COO/SVP. Examples include building lease payments and contracted IT services. Purchasing Liaison (PL): The individual who is assigned the duties of ordering supplies for their respective office. Request for Payment: A document prepared by EFI staff to request the payment of an invoice. Requests must be signed by staff with spending approval authority, unless accompanied by a pre-approved Purchase Order. Vendor: The outside company or individual that provides products or services to EFI.

I. Approval Limits

1) The approval limits for the purchase of goods and services are as follows: (note if a PO has the appropriate approval level, then the invoice does not require the same, duplicative approval)

$1,000 to $1,000 Signature of at least a Director. $0 to $2,500 Signature of at least a Senior Director or

Vice President of the business unit Office managers are authorized to purchase or approve recurring or monthly office related expenses up to this amount.

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$2,500 to $5,000 Signature of the Division’s Senior Vice

President Over $5,000

JOINT signature of the Division’s Senior Vice President and the President/CEO, Executive Vice President/ COO is the established standard.

However, The President/CEO and Executive Vice President/COO do have unlimited signing authority.

Over $100,000

Contracts and purchase orders will be reported to the Executive Committee of the Board of Directors quarterly. Grants and/or legislatively appropriated pass-through contracts approved by the Executive Office of the Governor or through a designated Task Force need not be reported to the Finance & Compensation Committee.

Approval limits for specific recurring purchases may be assigned by the Executive Vice President/COO. Signing authority has been authorized to Director, Accounting, for rent of offices in Orlando, Tallahassee and Coral Gables, lease payments for equipment rental, telecommunications, information technology – Presidio, leased employees – DMS and Miami-Dade County and interest remittance to the State of Florida based on current and existing contracted services as of October 1, 2015. Contracts for goods and services should clearly describe the justification needed for payment of invoices, including dates, amounts and deliverables. Approval of all recurring payments for payroll, 401K, temporary staffing, and employee benefits may be approved by the Vice President, Human Resources and Office Services or the Human Resources Manager regardless of the amount. Only the President/CEO or his delegate may legally bind EFI to any obligation. Staff should seek his approval on all final contracts with a vendor. All hardware and software purchases must be approved by the SVP Administration/MaSBEC regardless of the amount. In order to implement transactions in a fashion that both safeguards the assets of EFI and is responsive to the needs of the organization, purchasing approval may be delegated to another staff

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member. Delegation of authority may be for purchases of goods or services, approval of travel, and approval and execution of contracts and can be by event, period of time, or indefinitely. The delegate shall have the same signing privileges as the delegator unless otherwise stated.

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II. Standard Purchasing Procedures Purchases less than $5,000 may be approved by the SVP of the business unit and generally do not require a purchase order. Purchases under $35,000 generally do not require a bid, though departments are encouraged to contact several vendors in order to obtain the best price and quality. Departments are responsible for contacting the vendors, negotiating the price, and processing the invoices for payments. Items or services in excess of $35,000 should be publicly advertised, which can be accomplished by posting on the Enterprise Florida website. Awards should be made to the lowest responsible bidder unless there are extenuating circumstances. “Responsible” means the vendor who meets the specifications and is a qualified vendor. For sole source purchases, the department can document why the purchase should be considered a sole source. Staff who have purchasing or purchase approval authority must be aware of the standards of ethical behavior and avoid unethical conduct and disclose all conflicts of interest. Conflicts of interest occur when either the vendor or staff are in a position to make or influence a procurement decision from which they might directly or indirectly receive financial benefit or which might give improper advantage to their associates. Staff should use good judgment, professional commitment, and ethics to protect themselves and EFI from potential conflicts.

It is required that a purchase order be completed for the types of goods and services listed below:

Technology or equipment related goods or services over $150. Promotional items valued over $1,000. Sponsorships greater than $5,000. Trade mission and event related goods or services not included in annual

budget. Non-economic development related services or goods greater than $5,000 per

duration of services. Duration of service may be fiscal year or other term as specified in the vendor agreement. For assistance in determining if a good or service is for economic development, contact the Manager of Contracts & Compliance.

Trade mission and event related goods and services are evaluated and approved as part of the EFI annual budget. Vendors are typically considered a sole source. Each program manager should instead prepare and submit an event budget to the Executive Vice President/COO and the Director of Accounting which details the vendors to be used, estimated travel expenses, etc. for review, approval, and inclusion in the annual budget. Director of Accounting compares individual invoices to the event budget. The following are exclusions from the standard purchasing procedures:

Mobile devices (whereby a contract was signed by the SVP of Administration/COO).

Legal fees Rent and utilities Payroll and benefit related items

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Staff are expected to prepare purchase orders accurately and completely in advance of the purchase, providing clear and precise detailed specifications for each item or service requested or ordered. Blank PO forms are located on EFI’s intranet site under Important Forms. All economic development program goods and services must be reported to The Manager, Contracts & Compliance regardless of the amount. The Manager of Contracts & Compliance is responsible for reporting these expenses to the Department of Economic Opportunity (“DEO”) in our quarterly reports.

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To Order a Good or Service: 1) Staff prepares the PO and forwards to the appropriate manager within their business unit for

approval (see Section I for approval limits).

2) Once approved, staff forwards the original PO to Accounting to assign a purchase order number.

3) Accounting: a. Verifies the specifications on the PO. b. Determines if sufficient funds are available in the requesting department’s budget and

assigns the general ledger account number to be charged. c. Assigns the next sequential PO number. d. Returns the original to the requestor and forwards a copy to the Director of

Accounting to review prior to being filed. e. Maintains a log of all purchase orders assigned as well as any outstanding balances

remaining on each purchase order.

4) Staff places the order for goods or services using the PO. When submitting a PO to a vendor as authorization for payment, it is recommended that staff provide the vendor with EFI’s Purchasing Terms (tab 2 in the Purchase Order worksheet).

Should the vendor require a credit application or credit references, the employee should forward the requested forms to Accounting for completion. All staff should be aware that EFI is sales tax exempt for all purchases made in the state of Florida. A current copy of the sales tax exemption may be obtained from Accounting or EFI-Staff Resources. Use of the sales tax exemption should be limited to EFI business-related purchases only, subject to the restrictions set by the state of Florida. Misuse or personal use of the sales tax exemption will result in disciplinary action or termination.

To Request Payment of an Invoice:

1) Staff receives the goods or services and the invoice.

2) Staff verifies the goods or services to the invoice, PO and delivery packing slip (if received). If the invoice is incorrect, staff must request a corrected invoice from the vendor.

3) Staff prepares a Request for Payment form indicating whether the goods or services were received and attaches a copy of the PO and the original vendor invoice (and the packing slip if received).

4) Staff submits the Request for Payment to the Accounting Department for payment.

5) The Director of Accounting verifies the remaining balance of the purchase order to ensure the purchase order is not over-expended and Accounting processes the payment.

6) If the invoice exceeds the original amount of the PO for immaterial reasons (ie: freight, tax,

minor price adjustments etc), staff should note the overage on the PO copy and the SVP of the Business Unit must approve the overage amount.

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7) For PO extensions or amendments, staff should contact Accounting for assistance. When only a part of the goods or services approved by the PO are received, each Request for Payment should include the invoice and a copy of the PO indicating the amount to pay, if different than the amount approved, until the approved amount is finally invoiced. To assist staff with tracking payments and the remaining balances of the PO’s, Accounting personnel use the Great Plains P.O. field. For all sponsorship payments, staff should clearly state what EFI is receiving in exchange for the sponsorship as well as the anticipated benefits of that sponsorship. For expense reporting, purchases of goods or services submitted for reimbursement via an employee expense report are subject to the same approval limits and policies described above. PO’s, invoices or receipts should be submitted as supporting documentation to the expense report. Original, complete, accurate, and approved requests for payment submitted to the Accounting Department by noon on Tuesday will be eligible for payment on Wednesday of that week. Staff and vendors should take into consideration the additional time required for the appropriate department to approve and submit the invoices to accounting within this timeline. Technology or equipment related goods or services All technology related equipment and accessories purchased greater than $1,000 must be made in accordance with this policy and established spending authority and should be approved by the SVP Administration/MASBEC in advance of the purchase. It is the intent of EFI to encourage and reinforce the use of the standard Purchase Order process which enables EFI to show that it complies with comparison shopping standards and that vendors are aware of our purchasing guidelines. Use of AMEX: Information Technology & Services (“IT&S”) is authorized to use an EFI corporate AMEX card which enables EFI to comply with sales tax exemption requirements and prevents the contractor from having to get reimbursed by EFI for expenditures. Use of the AMEX card should not preclude pre-authorization or issuance of a purchase order and should be limited to such instances that are infrequent in nature and for which a purchase order and check request would not be feasible due to time constraints. In order to expedite the purchase of time sensitive peripherals, IT&S contractors have been authorized to purchase items up to $150 without the need for an additional approval or PO.

III. Obtaining Bids/Quotes for Purchasing Products or Services

If the total anticipated purchase is expected to be greater than $35,000 with a single vendor or contractor within the same fiscal year, competitive bids or quotes must be obtained. For assistance with this, staff must contact the Manager, Contracts & Compliance.

1) For all initial purchases of $35,000 or above, EFI shall obtain at least two written bid/quotes,

unless it is exempt from bid requirements as defined in Policy C-1, Contracts. A summary of bid/quotes or cost comparisons must be kept in a file and available for audits, per Contract Compliance guidelines.

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2) At the point at which purchases from a single vendor exceed $35,000 in a single fiscal year, competitive bids, quotes, or documented cost comparisons must be obtained and the low cost provider must be selected for the same products.

IV. Check Signing Authority

1) The following officials have check signing authority: President and CEO Executive Vice President/COO Senior Vice President, Administration and MASBEC

Vice President, Capital Programs* Manager, Capital Programs*

* For Capital related accounts only. Checks require one authorized signature and may be attached via electronic signature of the officials with signing authority. The SVP Administration reviews all check registers on a monthly basis.

V. Cash Disbursement Procedures

1) The Accounting Staff (AS) open all accounting mail and date stamp it received.

2) If an invoice is received directly from a vendor, the AS’s forward it to the proper EFI staff member for approval.

3) For all new vendors, the AS’s request a W-9 from the vendor. The Director of Accounting creates the new vendor code in the accounting system and verifies the tax identification number on the IRS’s TIN matching system. To expedite this process which will in turn expedite processing the payment, Accounting may ask for the program manager’s assistance in obtaining this information from the vendors.

4) The ASs review invoices, check requests, and PO’s for proper approval and enter them into Great Plains. She then forwards the invoices and posting edit report to the Director, Accounting to review.

5) Once reviewed, the AS prints checks on a weekly basis. Blank checks are kept in a locked file cabinet in Accounting.

6) Once the checks are printed, the AS scans a copy of the check into OnBase.

7) She then forwards the voucher package to the Director of Accounting along with a final

posting journal printed from Great Plains that details the date, account, description, and amount of each posted cash transaction.

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8) The Director of Accounting reviews the checks for appropriate supporting documentation, proper approval, proper coding, vendor, amount and reasonableness of payment. Once appropriate signature(s) are in place, checks are forwarded back to the AS for mailing. The voucher packages are scanned into OnBase then filed in the appropriate vendor file.

9) All voided checks are properly defaced and filed in numerical order.

10) On a monthly basis, the Director of Accounting prints and reviews the balance sheets, P&L’s

and detailed trial balances and forwards them to the SVP Administration and the COO for review. The Accountant or Director of Accounting reconciles all bank and subsidiary accounts reconciliations. If performed by Accountant, then they will be forwarded to the Director of Accounting for review.

VI. Office Supplies Purchasing Procedures

1) Purchasing of office supplies is managed and approved by the Purchasing Liaison under the spending authority of the Senior Vice President to whom they report.

2) Within each office, supply purchases are coordinated and monitored by the Purchasing

Liaison to ensure that supplies are distributed effectively, that supplies are not unnecessarily duplicated, and that purchases are cost efficient allowing for bulk purchases and cost comparisons.

3) To initiate the process, staff completes a Supply Order Request Form, PO, or submits the order electronically via the office supplier’s website.

4) The PL reviews all manual orders and inputs any additional items to be ordered into the office supply vendor’s website. The PL reviews all electronically submitted orders for appropriateness then submits all orders for processing weekly, entering one authorization for the entire order.

5) When the supplies arrive, the PL compares the items received to the invoice and the PO. The PL stores or delivers the supplies to the appropriate departments then delivers the original documents to Accounting for processing.

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POLICY A2.1 – EXPENSE REIMBURSEMENTS Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

Policy: The following provisions govern the reimbursement of all travel and entertainment expenses and miscellaneous charges incurred on behalf of Enterprise Florida. Purpose: To ensure that all travelers manage EFI funds prudently and are able to receive prompt reimbursement for their business related travel expenses. Scope: This policy is applicable to Enterprise Florida, Inc. (EFI) and its economic development services subcontractors. Definitions: Appropriate Member of Senior Management: the member of the Senior Management Team that is directly up the chain of command from the traveler. The person may or may not be the employee’s direct supervisor. Complete and Accurate Expense Reports: Complete and accurate expense reports include all necessary receipts, authorization forms and authorizing signatures. Charge card statements or any portion of the statement are not considered appropriate receipts and will not be accepted as documentation. Submission of the expense report to Accounting without the supervisor’s authorizing signature is considered incomplete and will not be processed until the supervisor’s signature is received. Senior Management (Senior Manager): President/CEO, Executive Vice President/COO, Chief of Staff, and each division’s Senior Vice President. Traveler: EFI staff member; or, business consultant or contracted service provider on authorized travel.

I. Travel Authorization All travelers have the responsibility of ensuring that their manager is aware of and approves of any travel before the expenses are incurred. For in state travel formal travel authorization forms may be used at the manager’s discretion. For out of state travel, a formal travel authorization form must be approved by the employee’s immediate supervisor and submitted with the expense reimbursement request.

II. Rental Car

A. If a rental car is needed, travelers are expected to use reasonable prudence in selecting a rental car provider. Unless pre-approved by the Division’s Senior Vice President, travelers are expected to rent standard to intermediate automobiles.

B. Travelers should consider the cost of renting a car versus driving their own. Unless other factors exist, travelers should consider renting a car when the business miles are expected to exceed 90 miles in a single day. Travelers should also consider the length of the trip in determining whether to rent a vehicle or drive their own. To assist staff with this decision, following is the mileage reimbursement from Orlando to each of our offices:

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C. Travelers should use the EFI corporate AMEX card for all car rentals. For domestic

rentals, rental car insurance is included when the traveler pays with the corporate AMEX card and travelers should decline any additional coverage.

D. For international rentals, the traveler should accept all insurance coverage provided. E. Travelers must have a valid driver’s license in good standing and maintain the state

required minimum insurance.

III. Reimbursement for Personal Car Usage

A. Employees may use their personal car for business purposes:

If it is less expensive than renting a car, taking a taxi or alternate transportation, and/or

If it is more timely than taking public transportation, and/or When transporting company goods for delivery, and/or When transporting clients.

B. Frequent use of personal vehicles for business is not encouraged. It is the personal

responsibility and requirement of the owner of the vehicle being used to carry adequate insurance coverage for their protection and for the protection of any passengers. Travelers must also possess a valid driver’s license. See Item F below.

C. Travelers will be reimbursed for business usage of personal vehicles at the Internal

Revenue Service rate of $0.565 per mile. This represents reimbursement for all vehicle related expenses including, but not limited to, gasoline, wear and tear, and personal auto insurance.

D. Business usage is defined as only those miles and tolls that are greater than the

normal business commute to the traveler’s office location.

E. Travelers will not be reimbursed for any repairs to their personal vehicle even if these costs result from business travel.


Mileage cost @$0.565/mi


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F. The traveler must be able to present upon request, a valid Florida driver’s license and proof of the state required minimum insurance if a personal vehicle is used for business travel.

G. A car allowance is available for Senior Management. In addition to the car allowance, they may claim an additional reimbursement of $0.565 per mile for business usage of a personal vehicle for all trips greater than 30 miles roundtrip. Also, parking and tolls incurred during business use of the vehicle may be reimbursed.

H. When traveling on company business, travelers are encouraged to check each state’s

law governing the use of electronic devices while driving when traveling to these destinations.

IV. Meals and Entertainment

A. Personal Meal Expenses are defined as meal expenses incurred by the traveler when dining on an out-of-town business trip but not at a business meal or function.

B. Travelers will be reimbursed for personal meal expenses:

On an actual costs basis, up to the maximum allowed, with an actual receipt

not a credit card invoice. Alcohol is not reimbursable.

Standard Domestic Rates: Breakfast $15.00 Lunch $20.00 Dinner $35.00

On a per diem basis with no receipt (EFI employees only, not available to business consultants or contracted service providers). Domestic per diem rates are:

Breakfast $ 6.00 Lunch $11.00 Dinner $19.00

Breakfast may only be claimed when travel begins before 6:00 am and extends beyond 8:00 am. Lunch may only be claimed when travel begins before 12:00 noon and extends beyond 2:00 pm. Dinner may only be claimed when travel begins before 6:00 pm and extends beyond 8:00 pm or when travel occurs during nighttime hours due to special assignment.

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International per diems are reimbursed at the most current published rate located at:

http://aoprals.state.gov/content.asp?content_id=184&menu_id=78. Travelers should include the printout of the per diem for the location to which they traveled with their expense report as well as the International Per Diem form allocating the per diem to each meal category.

C. Travelers participating in Enterprise Florida group meals where there is a self-pay

option (ie: Stakeholder’s Dinner, Committee, or Task Force Dinners) will be reimbursed for the full cost of the their meal not includingalcoholic beverages, if any, tax and gratuity when in excess of the maximum daily allowance. No additional approval is required under these circumstances. However the employee is required to submit an itemized receipt along with any credit card receipt for these meals.

D. If a meal exceeds the maximum daily allowance, a traveler may be eligible for additional reimbursement if the following conditions are met:

A less costly restaurant alternative was not available. The amount requested to be reimbursed is equal to the cost of the entrée,

non-alcoholic beverage, tax, and gratuity which exceeded the maximum allowable rate allowed.

An itemized receipt showing the cost of each item is attached to the expense report.

Under these circumstances, the traveler may complete and submit an Authorization to Exceed Allowed Reimbursement form. This form must be signed by his/her supervisor and submitted to Accounting with the expense report. An itemized receipt must be submitted along with any credit card receipt for the meal; otherwise reimbursement will be limited to the standard domestic rate.

E. As it is the state’s policy to only reimburse at the per diem rate, management has

determined that the portion of the meal expenses in excess of the per diem should be paid from the corporate account. As it would be time consuming and a strain on EFI’s resources to determine these expenses as they arise, management has determined that a monthly transfer will be made from the corporate to the operating account to cover any amounts in excess of the state allowance.

F. Business Meals are taken with clients, prospects or external associates during which a specific business discussion takes places. Employees will be reimbursed for the reasonable cost of the meal with an itemized receipt. The expense report must list the names of all people present at the meal and the business purpose of the meal which may include entertainment expenses. Alcohol may be reimbursed as part of a business meal. Travelers should indicate the alcoholic beverages since this is required to be paid from the corporate account. Meals composed of only EFI employees may not be submitted for reimbursement as a Business Meal.

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G. Meals including other employees will only be reimbursed in the following situations:

1. Employees are included in a Business Meal, which also includes business prospects or clients.

2. A member of Senior Management conducts or authorizes in writing a meal

for testimonial, reward, recognition or other appropriate business purpose. In this instance, meal costs will be paid from the Corporate account.

3. Employees are traveling together and one employee pays for all employee meals. In this instance, the cost per employee meal should not exceed the established spending limits and each employee’s name must be noted on the receipt. In general, employees are encouraged to get separate bills when dining with others. A supervisor should not approve a meal on their employee’s expense report if their own meal is included. The most senior ranking employee should pay for the meal when EFI staff members are traveling together to prevent any conflicts.

4. Food or decorations purchased for staff celebrations (i.e.: birthdays, graduation, retirements, baby showers) are not reimbursable. Staff should pay for these personally. Any exceptions must be approved in advance by the President/CEO or the EVP/COO.

Holiday staff meals, quarterly birthday cakes, and United Way campaigns are reimbursable with SVP Administration or VP, Human Resources approval and up to but not to exceed the approved budget for each event. These items are paid from the corporate account, not state funds.

F. Entertainment expenses may be included for reimbursement only for purposes

noted in Section (E) Business Meals. These expenses may include alcohol, door charges, ticket costs and travel fees associated with the entertainment event.

G. Employees will not be reimbursed for meals if they are provided as a part of an

event. Employees will not be reimbursed for meals purchased by non-employees. V. Individual Corporate Credit Card Responsibility

A. Company issued credit cards are available to any employee who travels more than twice per year. EFI will reimburse the employee for the annual membership fees (excluding any reward program fees). If an employee chooses to use their personal card for business expenses, EFI will not pay annual card fees and will not be responsible for paying for additional travel related insurance.

B. Corporate credit cards may not be used for personal expenses except in the case of

an emergency that occurs while on business travel.

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C. Employees are responsible for paying their corporate issued AMEX cards in full promptly each month. All corporate card bills are due and payable upon receipt. Extended payments will not be allowed. The current status of the employee’s corporate card may be found and monitored at www.americanexpress.com

D. Enterprise Florida does not reimburse for late payments or finance charges. E. Misuse of the company issued credit card may result in:

Notification sent to employee’s supervisor, appropriate member of Senior

Management for that division and the Vice President, Human Resources & Office Services.

Suspension or cancellation of charge privileges, or Other disciplinary action as deemed necessary by the Senior Manager and

the Vice President, Human Resources and Office Services.

VI. Reimbursement of Expenses

A. Expense reports should be submitted to direct supervisor within 15 business days of the travel or event through the Concur On-Line Expense Reporting Module. Once received the supervisor will review and approve the reimbursement and submit to Accounting within 10 business days of receipt.

B. Non-travel related expenses such as iPhone apps or equipment must be approved in

advance by the appropriate level of senior management and or IT.

C. Items such as shirts or other articles of clothing with the EFI logo should be purchased by the Marketing & Communications department and not by the traveler directly. Per IRS guidelines, uniforms or clothing provided by an employer are excludable from taxable income if they are 1) specifically required as a condition of employment and 2) they are not worn or adaptable for general use as ordinary clothing.

D. Original receipts should be scanned and attached to the electronic expense report. Any writing on the back of the receipt should be scanned or copied to a separate piece of paper. Stapling, highlighting and taping over the print on receipts should be avoided as it will damage the print and make the receipts unreadable.

E. In the event of a holiday, board meetings, or other extenuating circumstances,

payment processing may be delayed. In this event, the Office Managers for each location will be notified with the anticipated date for processing.

F. If corrections to any expense reports are needed, the expense report will be returned

to the traveler for correction as soon as possible, to enable rapid re-submission to Accounting.

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For information on other travel related expenses, please consult the Enterprise Florida Travel Manual.

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POLICY A2.2 – RELATED PARTIES Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

Policy: It is the policy of EFI to exercise sufficient internal controls for the protection of all funds under its auspices Purpose: To establish a procedure for the payment of authorized goods, services and distributions for EFI’s related parties. Scope: This procedure is applicable to the Florida Development Finance Corporation, the State Small Business Credit Initiative, and the Florida Opportunity Fund. Definitions Check Request: A document prepared by EFI staff to request the payment of an invoice, which must be approved by the appropriate staff member or officer. Invoice: A document prepared by the vendor that indicates the description and price of goods or services and other applicable information. Distribution: A disbursement of funds from the Florida Opportunity Fund investments repaying capital investment and/or realized investment gains. Wire Transfer: A disbursement of funds utilizing electronic means to withdraw funds from our company accounts and automatically deposit it into another account, either internally or externally. Standard Check and Wire Process: 1) The Senior Accountant completes the Request for Payment and Wire Payment Instructions

(when applicable), attaches all documentation received related to the transaction, then forwards to the appropriate staff members for approval.

2) The Director of Accounting; the Vice President, Capital Programs; Manager of Capital Programs; and/or the SVP of Administration and Minority, Small Business Entrepreneurship & Capital (“MASBEC”), must approve all requests in accordance with EFI’s standard purchasing policy.

3) Requests up to $5,000 must be approved by one of these individuals. Requests over $5,000

must be approved by two of these individuals.

4) Once the requests are approved, the Senior Accountant forwards the package to the Director of Accounting to review the documentation, confirms funds are available in the appropriate cash account, requests transfers if necessary, and codes for posting.

5) Payments to be made via check are forwarded to the Accounting Assistant to process in

accordance with EFI’s standard check processing procedure.

6) Payments via wire transfer are forwarded to the Accountant to enter into the Wells Fargo CEO platform where the wires are held in queue to be approved by authorized personnel . The Accountant prints a copy of the report, attaches it to the wire request and gives both documents to the Director of Accounting to review and release.

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POLICY A2.2 – RELATED PARTIES Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

7) The Director of Accounting reviews and releases the wire, then returns the request to the Accountant to print the approval form showing the federal wire reference number and post to GP.

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POLICY A2.3 – OUTGOING WIRES Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

Policy: It is the policy of EFI to exercise sufficient internal controls over the disbursements of funds through the execution of an outgoing wire transfer. Purpose: To establish a procedure for the execution of outgoing wire transfers. Scope: This procedure is applicable to Enterprise Florida, Inc. and its affiliates for wire transfers. Definitions Wire Transfer: A disbursement of funds utilizing electronic means to withdraw funds from our company accounts and automatically deposit it into another account, either internally or externally. Process: 1) A request is initiated by an individual or division on a “Payment Request Form”. The request

must be approved by the person with delegated authority over that division. 2) The Requestor then prepares the Wire Transfer Request with all applicable account information

for our accounts and those of the payee. 3) The request is then forwarded to Accounting for processing. 4) The Accountant reviews the request for accuracy, then forwards it typically to one or more of the

EFI authorized check signers who sign it indicating their approval. Requests greater than $5,000 require two signatures. The authorized list of check signers are:

President/CEO SVP Administration EVP/COO Director, Accounting Vice President, Capital Programs* Director, Capital Programs* *only for FDFC, FOF, and SSBCI Accounts 5) The Accountant enters the wire information into the Wells Fargo banking platform where the

wires are held in queue to be approved by authorized personnel. The Accountant prints a copy of the report, attaches it to the wire request and gives both documents to the Director of Accounting to review and release.

6) The Director of Accounting reviews and releases the wire, then returns the request to the Accountant to print the approval form showing the federal wire reference number and then post to GP.

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POLICY A3 - MOBILE DEVICES Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

Policy: The following provisions govern the use of any company-issued mobile device that makes or receives phone calls, leaves messages, sends messages, surfs the Internet, or downloads and allows for the reading of and responding to email. Purpose: To establish a written policy on the usage of Company-supplied mobile devices. Scope: This procedure is applicable to Enterprise Florida, Inc. (EFI). Definitions: Company-issued Mobile Devices: any EFI issued mobile device or similar device. All company-issued mobile devices and related equipment are the property of EFI. An employee may be financially responsible for loss, damage, or failure to return assigned equipment. Information Technology (IT): the person or designee responsible for all EFI Company-issued mobile devices. This person is responsible for obtaining all Company-issued mobile devices and cellular related equipment and all service related issues. I. Procedures for Using Mobile devices

A. Company-issued Mobile devices

1. Verizon and T-Mobile are the established carriers for EFI business services. Any use of another provider must be approved by the President/CEO or the Executive Vice President/COO.

2. Company-issued mobile devices will be issued to an employee if his/her supervisor

determines there is a job-related need, significant travel is required, if he/she supervises/oversees personnel in the field, or the employee is expected to be accessible outside of the normal business hours in the office.

3. All Company-issued mobile devices will be set up by IT so that the operating system and

apps are consistent. Users are expected to complete training on the use of the Company-issued mobile device and apps for business use.

4. Attempts to store all emails or files on a Company-issued mobile device will greatly reduce

its speed.

5. While Company-issued mobile devices are provided to employees for the purpose of

conducting official business, the Company recognizes that there may be occasional instances in which an employee may need to use the phone for brief personal phone calls.

6. Excessive use of the company-issued mobile devices is strongly discouraged as this uses

the pool of minutes or data available for the entire company which results in higher charges to EFI.

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POLICY A3 - MOBILE DEVICES Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

B. Personal Mobile devices

1. EFI does not encourage employees to use their personal mobile devices for Company business except under extraordinary circumstances. Use of these phones for Company business is strictly voluntary on the part of the employee and may be used in addition to and/or instead of a Company-issued mobile device.

2. In order to be reimbursed for regular ordinary business-use of a personal mobile device,

the employee must have authorization by his/her manager and approval by his/her Senior Vice President.

3. To be reimbursed the employee must submit the detail of the minutes indicating any

business minutes and the reason for using a personal mobile device if a company-issued mobile device has been provided.

C. Use of Mobile devices While Driving

1. EFI encourages the safe use of mobile devices while driving which includes use of a head set or other hands-free device. While EFI recognizes that even though there is a business need to use mobile devices, safety must always be the first priority.

2. EFI does not encourage their employees’ mobile device usage when operating a moving

vehicle and it does encourage them to realize that the intensity of the conversation or hazardous road conditions may warrant discontinuing a call or safely pulling out of traffic before continuing a conversation.

3. EFI will provide hands-free devices to all employees with Company-issued mobile devices.

Again, EFI encourages employees to limit their phone usage to brief conversations or to seek a safe parking area before engaging in lengthy phone usage.

4. Manually typing into a mobile device or sending or reading data in such a device including

texting, emailing, and instant messaging, while operating a motor vehicle, is prohibited under florida law.

Due to the complexity in computing the appropriate amount of mobile device charges that may be paid from state funds, management has decided to pay all Company-issued mobile device charges from the corporate account.

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POLICY A4 - TECHNOLOGY AND RESOURCES Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

Policy: It is the policy of Enterprise Florida Inc. (EFI) to properly record and safeguard all property owned by EFI, to make informed investment decisions regarding the acquisition of technology and resources, and to promote effective management of existing capital assets. Purpose: To establish a policy which outlines the general steps to be performed when acquiring, recording, safeguarding and disposing of surplus property. Scope: This policy is applicable to Enterprise Florida, Inc. (EFI) and its economic development services subcontractors designated as International Representatives. Definitions: Acquired Date: Date the property was received by an EFI office or the date that ownership of the property transferred to EFI. Annual Inventory: Yearly verification of all property. Assets: Any tangible or non-expendable item that maintains property value. Asset Tags: Tags adhered to each individual asset used to identify and track fixed asset items. Capitalizable Value: The initial purchase price of the fixed asset, which includes installation, freight, and taxes, minus any credits or discounts. Certified Surplus Property: tangible items owned by EFI that are certified to be obsolete, inefficient, uneconomical, or that serve no useful purpose. Custodian: The person designated for the use and care of specific property in his/her custody, but owned by EFI. Depreciation and Amortization: The accounting process of allocating the cost of tangible assets to expense in a systematic and rational manner to those periods expected to benefit from the use of the asset. Disposal: The approved removal of a fixed asset and the deletion of the item from the fixed asset record resulting from sale, trade-in, destruction, or donation. Donated Property: Items given to or received from an outside source without fees or services rendered. Equipment Leases: leases for rental of office equipment including but not limited to copiers, faxes and mail machines. Lease terms are generally 3-6 years and the property reverts to the lessor at the end of the lease term. The Director of Accounting will assess each lease to determine if the lease qualifies as a capital lease as defined by FAS 13 and record payments accordingly. Fixed Asset: Property whose value or cost is $1,000 or greater and the normal expected life of which is greater than three years.

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Fixed Asset Administrator: Assigned EFI Accounting staff in the Orlando office. Fixed Asset Listing: A listing of all fixed assets owned by EFI that includes the following information for each asset: acquired date, description, capitalized value on the acquired date, asset tag number, useful life, fiscal year to date depreciation expense, accumulated depreciation, and custodian. Property: Furniture, equipment, fixtures and other tangible personal property of a non-consumable and nonexpendable nature. Property Relocation: The approved permanent transfer of property from one person to another or from department to department. Surplus Property: Tangible items owned by EFI that are no longer required to meet existing needs. Telecommunication Advances: Includes phone systems, cellular phones or similar devices. Value: The actual purchase price or depreciated worth of an item. Procedures:

I. Property Records

A. All property or software purchased or donated to EFI with a value of $1,000 or greater will be

recorded in the fixed asset listing at its capitalizable value. Property with a value less than $1,000 may be tagged with “Property of Enterprise Florida” at the discretion of the fixed asset administrator or office manager.

B. Any employee receiving any property for EFI with a value or purchase price greater than

$1,000 must notify the EFI staff designated as fixed asset administrator (located in Orlando). The employee must provide a copy of the related purchase documentation or donated property letter detailing the value or cost of the property (see donated property policy below).

C. Upon notification of the receipt of property, the fixed asset administrator will physically view

the asset and affix an EFI asset tag in an appropriate location. If a fixed asset is received directly by a location other than Orlando, the fixed asset administrator will send an EFI tag to the office manager at the appropriate location upon receipt of invoice or donated property letter and description of the asset.

D. The fixed asset administrator will enter the EFI tag number, description, location,

capitalizable value, useful life, and custodian into the fixed asset listing.

E. The description of each item must contain acquired date, office location, EFI asset tag number, manufacturer’s information (name, serial number, model number), and custodian.

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F. The fixed asset administrator is responsible for maintaining a “fixed asset additions” book that contains invoices or other documentation supporting the description and value of the recorded property.

G. Accounting staff will annually review the listing and compare it to the fixed asset additions

book to ensure items have been properly recorded.

II. Depreciation and Amortization

A. The depreciation method used for accounting purposes is the straight-line method using the following estimated useful life periods:

Leasehold improvements: 5 or 7 years Office furniture: 5 or 7 years Office equipment: 5 years Computer equipment: 3 years

B. Amortization is provided for software using the straight-line method over 3 years.

III. Physical Inventory Procedures

A. The fixed asset administrator or office manager for locations will perform a physical inventory of all fixed assets on at least a bi-annual basis.

B. The fixed asset administrator will provide the office manager with the most recent fixed asset

listing prior to the physical inventory. The office manager will perform a “sight and site” verification of each item.

C. Each fixed asset will be examined; the tag number and descriptions of the item will be

compared with the number appearing on the fixed asset listing. The appropriate annotations will be entered to indicate correctness and/or discrepancy for each entry.

D. Any untagged property item found during the inventory process that meets the $1,000

threshold for fixed asset capitalization should be kept on a discrepancy log.

E. After appropriate investigation to establish the ownership and value of the items on the discrepancy log, the capitalizable items shall be added to the fixed asset listing.

F. The office manager and the fixed asset administrator will sign and date the final inventoried

fixed asset listing to certify that the listing reflects the actual physical property owned and maintained by EFI.

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IV. Lost or Stolen Property

A. Any assets on the listing that are not physically located during the inventory procedures will be researched to satisfactorily eliminate the possibility of an error in the listings. The fixed asset administrator will conduct a search and investigation to determine the location of the missing item, the reason, if any, for the disappearance, or to secure evidence of wrongdoing.

B. If an item is determined to have been lost or stolen a police report must be filed. Building

management must also be notified as appropriate. C. If the item is not recovered after a two-month period, the item will be removed from the Fixed

Assets Listing and any remaining value will be expensed.

V. Property Relocation

A. The fixed asset administrator must be notified of any transfer of custodian or location of a fixed asset by e-mail or by the Property Relocation Form. This form should be signed by the custodian(s) and then forwarded to the fixed asset administrator within five days of the transfer or relocation date. The fixed asset administrator will update the fixed asset listing as appropriate.

VI. Disposal of Surplus Property

A. Fixed assets may be considered available for disposal if they are unserviceable, uneconomical to repair, replaced or in excess.

1. Certification of Surplus Property: The Custodian identifies the surplus property

that is obsolete, inefficient, uneconomical, or serves no useful function for continued use.

The Custodian makes a recommendation to the SVP of Administration on the certification of the surplus property and proposed disposition of the property. The Custodian will review the certified surplus classification and proposed disposition, and make a recommendation to the SVP of Administration for approval.

2. Disposition: Following the approval, the Custodian may dispose of certified surplus

property in the following manners: a. Selling or transferring the property to any other governmental entity; b. Selling or donating the property to any nonprofit organization that is exempt

from income tax under IRS § 501(c)(3); c. Selling the property through a sale open to the public; d. Entering into contractual agreements with private vendors that facilitate the

final disposition of the property. Such agreements may include the leasing of storage space or arrangements for the disposal of scrap property: or,

e. Cannibalizing parts, scrapping or destroying it.

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Except in situations where the property is sold to a governmental entity or an IRS § 501(c)(3) entity, the sale should be made using the fair market value of the certified surplus property. In order to buy or receive certified surplus property, a 501(c)(3) entity must submit its IRS determination letter and an acknowledgment of goods to be received on company letterhead. Certified surplus property shall not be sold or transferred to an officer, director, board member, employee, substantial contributor, or organization represented on the board, or immediate family member of any of the foregoing except when sold in a sale open to the public.

3. Update property record: The Custodian shall record the following information in the individual property record:

a. Date of disposition. b. Authority of disposition (custodian certification as surplus property). c. Manner of disposition (sold, donated, cannibalized, scrapped or destroyed). d. Recipient’s name (buyer, donee organization, scrap dealer, vendor) and any

relationship to EFI. e. If sold or transferred, fair market value at the date of disposition including

any documentation (e.g. appraisals) reflecting fair market value. f. The dollar amount received if by outright sale. Identity of the employee(s)

witnessing the disposition, if cannibalization, scrapped or destroyed. g. For items disposed as of a result of casualty loss (destroyed, damaged

beyond repair, etc), the value of insurance proceeds, if any, together with notation identifying the reason for disposition.

The Custodian will forward the record to the fixed asset administrator to update the accounting records and make the necessary entries to remove items from the accounting records.

VII. Donated Property

A. A letter should accompany property being donated by EFI on the receiving company letterhead that provides a description of all items, estimated cost or current value, donation date, and signature of a company officer. This letter will be forwarded to the fixed asset administrator in order to initiate the property record procedures.

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POLICY A5 - PAYROLL Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Griff Salmon

Purpose: To establish a procedure for the processing of payroll. Scope: This procedure is applicable to Enterprise Florida, Inc. (EFI). Process: EFI uses an outside vendor (ADP) to process payroll and related taxes. Payroll is processed on a bi-weekly basis. 1) All employees are required to submit any leave time using the ADP Human Resource & Benefits

(HRB) module. Leave requests are submitted electronically to their immediate supervisor for approval or rejection. Approved requests are then submitted to HR. Rejected requests are returned electronically to the employee. New hire information and 401(k) changes are input by the Human Resources Department (HR). The file is provided to the Payroll Administrator (PA).

2) Approved leave requests are captured by the HRB system and transferred bi-weekly into ADP’s Pay Expert payroll system via a connection file on payroll Tuesdays. Manual adjustments to the leave balances may be made by HR for any corrections or if an employee is out for unscheduled leave.

3) Employees who are Non-Exempt from the Fair Labor Standards Act (“Hourly employees”) prepare and sign their timesheet and have their supervisor approve it. Every payroll Monday, time sheets are due to the PA.

4) The PA logs the hours worked from the timesheets, verifies any leave reported on the timesheets

to the connection file, and submits the file electronically to ADP on Tuesday morning. A Payroll Edit Report is generated and the PA along with the Director of Accounting review the report to the paper file. If there are errors, the PA rejects the payroll, makes the correction, and re-submits the file. Once the report has been reviewed and there are no errors, the Director of Accounting accepts payroll in the system. Once accepted, no further edits can be made by EFI.

5) ADP records the employee salary information into their system, prepares the checks, processes

the direct deposits and remits the taxes to the applicable taxing authority. The payroll reports are available on Wednesday of payroll week.

6) All direct deposit advices are available on-line for each employee to download. No paper copies are distributed. Any live checks for staff in the Orlando office are distributed by the PC or HR on payday Friday. Any live checks for staff in other offices are sent via fed-ex for delivery by payday Friday. Electronic deposit is encouraged, though not required. Direct deposit information is entered into the system for pre-note by the appropriate bank. Typically, the only paper checks are a newly hired employee’s initial check.

7) The Accountant enters the payroll amounts into an Excel spreadsheet that calculates the payroll

totals, prepares, and posts the journal entry into the accounting software. The spreadsheet has formulas that break out the payroll amounts for each department based on predetermined percentages. Once entered, she forwards the journal entry report and back-up to the Director of Accounting for review. Once reviewed, the Directorof Accounting forwards the journal entry to the SVP Administration for approval.

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POLICY A5 - PAYROLL Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Griff Salmon

8) On a monthly basis an income statement is distributed to each department for review. Bank accounts are also reconciled monthly by the Senior Accountant and are reviewed by the Director of Accounting.

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POLICY A6 – MONTH END/YEAR END CLOSING Effective: 3/2/2016 (rev) Established: 10/2/2013 Approved: Crystal Sircy

Policy: It is the policy of EFI to close the books monthly and at the end of the fiscal year. This will enable the preparation of financial statements by an independent certified public accounting firm in conjunction with performance of an annual audit. Purpose: To establish a procedure which outlines the general steps to be performed when closing the books monthly and annually. Scope: This procedure is applicable to Enterprise Florida, Inc. which includes Florida Opportunity Fund, FOF PA II, Florida Sports Foundation, and the Florida Development Finance Corporation.

Monthly Close 1. At the end of each month the accounting system will remain open and data will be recorded until

the 5th business day of the following month. This will aid in the recording of more accurate information since bills are paid and cash is received after the last day of the month, which apply to the preceding month. After the 5th business day of the following month, no data is recorded in the preceding month unless a journal entry is done by the Director of Accounting

2. On or around the 6th business day of the month, the Director of Accounting prints the Revenue and Expense Statements and Balance Sheets. The statements are reviewed for accuracy and adjusting entries are made if necessary. Revenue and Expense Statements are distributed to Division and Program Managers after they are reviewed by the SVP of Administration.

3. The Accountant performs a reconciliation of the accounts payable account. The accounts

payable aged detailed, which lists vendors and amounts, is reconciled to the balance of the accounts payable account per the accounting system.

4. Bank account reconciliations are performed for each bank account, reviewed by the Director of

Accounting and filed in their respective bank account folder.

Year-end Close 1. The fiscal year-end is June 30th. The books remain open until a date is chosen in July to allow

as many bills and cash receipts to be recorded in the preceding fiscal year as possible. Once the books are closed no data is recorded in the preceding fiscal year unless the Director of Accounting performs a journal entry.

2. All of the steps under monthly closeout are performed at the end of the fiscal year. 3. EFI’s accounting staff prepare for the year-end audit by preparing all of the schedules needed by

the independent CPA firm. If any adjustments are needed per the audit, they are entered into the system by the Senior Accountant or Director of Accounting. After the audit is completed and issued the accounting system is permanently closed, which allows no more data or journal entries to be entered for that fiscal year.

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enterprise updated travel manual and accounting polices & procedures · 2016-10-03 · updated...

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