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Vendor Reimbursable Expenses Policy

Travel and Business Expense Guidelines

Travel Spend

A budget for travel expenses will be set within the Master Services Agreement (MSA), Statement of Work (SOW), or applicable contract between the Bank and the vendor. Travel expenses may not exceed the budget unless the executive leader of the owner of the vendor engagement (VRO/VSO) provides approval.

Travel Authorization

All travel (air, car, and hotel) must be pre-approved by the Bank employee who owns the vendor engagement.

Travel Expense

All travel (air, car, and hotel) must have the lowest available cost and be invoiced at cost.

Travel Policies

All travel (air, car, and hotel) and meals expenses must be incurred in accordance with the below policies. Vendors’ travel expenses that do not comply with these policies are not permitted and will not be reimbursed. Any non-compliant travel expenses may be eligible for reimbursement, provided that the vendor obtains approval, in writing, from the executive leader of the owner of the vendor engagement (VRO/VSO), including, for example, airline change fees and hotel or meal rates exceeding per diem amount.

Air
  • The lowest economy fare (excluding basic economy) must be selected.
  • One checked bag is reimbursable.
  • Upgrades are not reimbursable.
  • TSA PreCheck/Global Entry/Clear is not reimbursable.
Hotel
  • The hotel shall be the lowest available cost not to exceed $250 per night, excluding tax.
  • The vendor must confirm whether the Bank has negotiated rates with Des Moines hotels and book through one of those hotels unless the vendor’s preferred hotel provides a lower rate.
  • Any applicable room blocks provided by the Bank for travel must be used.
  • Short-term rental platforms (e.g. Airbnb, Vrbo) are not reimbursable.

Meals

The daily meal per diem is $75 per day. Vendors should reduce their per diem reimbursement request for any meal provided by the Bank.

Parking and Ground Transportation

Taxis and rideshare providers are reimbursable, provided that the vendor selects the lowest priced fare based on the number of people traveling (excluding carpool). Only mid-size and smaller rental cars should be selected. If there are more than four people traveling, a small SUV may be rented. If a larger car type over mid-size is selected, documentation must be provided validating more than four people were on the trip.

Long-term (economy) parking is to be used at the airport for any trip exceeding 24 hours. Valet parking is not reimbursable.

Invoices and Payment Terms

Receipts

Receipts for all charges over $75 are required to be produced at the time the expenses are submitted. Credit card statements do not qualify as a valid receipt. Expenses that do not have a qualifying receipt will not be reimbursed.

Invoice Submission

Unless otherwise provided in the applicable contract, invoices must be submitted within 30 days of the charge. Requests for reimbursement should be emailed to AccountsPayable@fhlbdm.com along with the required supporting documentation. Any expenses that exceed the budget or do not comply with this Policy are considered non-reimbursable ad hoc expenses, unless the vendor obtains prior written approval from the executive leader of the vendor engagement owner, in which case ad hoc invoices can be submitted and will be paid. Ad hoc expenses must be submitted for reimbursement within 30 days of the charge. Ad hoc expenses submitted after 30 days of the charge date will not be reimbursed.

Disputed Invoices

Any discrepancies or disputes regarding expenses must be resolved before payment is processed. The Bank reserves the right to withhold payment until such disputes are resolved.