When full-time employees are hired or asked to move by Potomac Conference many questions come to mind, and we want to make sure you and your family have the best experience when relocating. Below you will find the main topics to ensure a smooth relocation. Click here to read the entire policy (Policy 320.80 or page 55)
The following TAXABLE allowances/reimbursements are granted as the expense is incurred.
Finding your new house may be challenging. The Conference covers the cost of one house-hunting trip including up to 5 days and 4 nights hotel stay. Your per diem is based on the family members travelling with you.
- To help with the move and cover packing and other associated costs, Employees will receive a moving allowance per policy. This amount is a flat 33% of the remuneration factor and is currently $1,736.00 per employee.
Potomac Conference has a partnership with ATLAS moving Company. You will be placed in contact with the moving company so ATLAS can send Potomac HR the estimate. HR will share the estimate with you, so you determine the next steps. If you decide to take the settlement and move yourself, the allowance will be based on the estimate done by the moving company. All moving options are taxable:
- Conference Arranged Move
- You are responsible for packing all your belongings
- The moving representative will load/unload your belongings on the moving truck
- Self-Move: Moving Settlement
- You will be paid seventy-five percent (75%) of the quote as a moving settlement
In case your belongings fit on a U-Haul, we have a third moving option for you:
- Self-Move: U-Haul Self Move
- You make all the arrangements for a truck rental
- The Conference will reimburse 100% of the U-Haul rental cost and gas expenses
On any of the options above the conference will add 30% to the payable/paid amount. Remember: Receipts are required when seeking reimbursement(s).
Vehicle Misc. Moving Expenses
Potomac Conference recognizes that moving expenses are not limited to the new house. We also cover additional expenses to cover up to two cars that MUST be registered within 90 days of moving to new area to qualify for reimbursement. See the list below:
- Drivers’ licenses for employee and spouse (when changing states).
- Auto license tags (when changing states).
- Auto registration (when changing states).
- City or county sticker (license)
- State inspection fee (when changing states).
- Use tax (when changing states).
Housing: Duplicate Housing and/or House Payments
Potomac Conference understands that when you are moving to join us you may have to break a lease contract, or it may take a while for you to sell or rent your current property.
We have you covered!
- Initial Assistance: up to 3 months we will cover when payments are being made at both locations. It is meant to cover expense for principal and interest, property taxes and insurance up to 75% of the base remuneration factor. Fifty percent of any rental income shall be deducted from the allowance.
- Duplicate Housing request: Click here to request your duplicate housing. Remember you will be request receipts for all expenses submitted.
ADCOM vote of approval is required for additional months of assistance past the initial three-month period. Contact HR in case you need further assistance.
Click here to read the entire policy
320.60 Housing Policies
Duplicate Rent and/or House Payments (taxable)
1. Initial Assistance (months one – three) – When an employee is moved from one location to another, and because of the conditions of his/her lease, or failure to sell or rent his/her home he is required to pay housing expenses both at his/her former location and at his/her new location, an allowance may be granted to cover the time when payments are being made at both locations and both homes are habitable. The allowance may be granted under normal conditions for up to three months.
Rental properties and apartments – Employees with rental properties will need to seek a settlement/buy-out agreement with their landlord/property management should they be more than three months out from the end of their leasing agreement.
NOTE: ADCOM vote of approval is required for additional months of assistance past the initial three month period.
2. Unusual Circumstances (months four – six) – In unusual conditions when the employee has not been able to sell the home at his/her former location and evidence is presented indicating that the asking price for said home at the end of the three-month period referred to in 1. was no more than 100% of an appraisal provided by an independent appraiser, up to an additional three months’ assistance may be granted.
An independent appraiser shall be understood be a qualified appraiser such as
may be contacted through banks or home loan associations. Real estate agents
shall specifically be excluded from this group. The reasonable cost of such
appraisal will be reimbursed by the Conference.
3. Extreme Circumstances (months seven – nine) – If the employee has not been able to sell the home after having received an allowance for six months because of extreme circumstances, the allowance may be continued for a further period of up to six months if the asking price for the said home has not been greater than 95% of the appraisal during this period.
4. Amount – When granted, the monthly allowance shall be the actual expense for principal and interest, property taxes and insurance up to 75% of the base
remuneration factor. Fifty percent of any rental income shall be deducted from the allowance.
5. Utility Expenses – In addition to the monthly allowance provided for in paragraph 4, employees may be reimbursed for the cost of utilities to provide security lighting and minimum heating.
6. Selling Loss Shared – In view of the importance of pricing a home correctly before it is placed on the market, and due to the critical importance of the first 30 days in the sale of the property, both the employee and the new employer may agree at any time during the selling process that in lieu of spending all the duplicate housing allowance, the property may be placed for sale at less than one hundred percent of market value as determined by current appraisal. The cost of the reduction may be shared between the new employer and the employee at an agreed upon ratio on an individual basis. The employer cost is not to exceed the maximum duplicate housing allowance provision.
In cases where it may be necessary to negotiate a bridge loan in order to secure a home at the new location, the bridge loan interest may be reimbursed by the new employer for the same time period during which the employee is eligible to receive duplicate housing allowances in addition to the duplicate and special housing allowance. This bridge loan interest would be considered outside of the ceiling for which special assistance may be given.