Drake reimburses mileage for use of personal automobiles by employees for actual miles driven during business travel. The reimbursement rate is based on the current standard mileage rate issued by the Internal Revenue Service.

Please note that the IRS has recently issued the 2017 standard mileage rate. Effective Jan. 1, 2017, the standard mileage rate is 53.5 cents per business mile driven, down from 54.5 cents for 2016.

The standard mileage rate is evaluated annually by the IRS and is based on an annual study of the fixed and variable costs of operating an automobile.

If you have any questions regarding the reimbursable mileage rate, please visit the IRS website at www.irs.gov/Tax-Professionals/Standard-Mileage-Rates or contact Accounting at accounting@drake.edu.

—Jennifer Baugher, Accounting