FirstBank OnBoarding Manual - Flipbook - Page 151
EXPENSE REPORT GUIDELINES
Monthly Employee Expense Allotment
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Each loan officer is given a monthly budget to cover cost-of-doing-business expenses. This budget
is based on your production staying above the required minimum standard of two loans per month
or $400,000. If you are unsure of your budget amount, contact your direct manager. Monthly
budget includes, but is not limited to: advertising, closing gifts, lunch and learns.
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If you are a loan officer assistant or team mortgage banker, you do not have a monthly budget. Any
expenses you acquire will be calculated under your loan officer’s budget. Always make sure any
expenses you submit are approved by your loan officer prior to submitting for reimbursement.
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Assistants or Team Mortgage Bankers that cover more than one loan officer will need to work
out any expenses the assistant may have with the loan officers they assist.
You should always be in your budgeted monthly allotment. If there is an expense that you’d like
to include that is over your budgeted amount, you should always get approval from your manager
PRIOR to paying for the expense, unless you are willing to pay for it entirely.
When do I submit for reimbursement?
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We encourage you to file your expense reports monthly, but no later than the end of each quarter.
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Quarter 1 - January, February, March
Expenses for Jan, Feb March may be turned in no later than March 31.
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Quarter 2 - April, May, June
Expenses for April, May, June may be turned in no later than June 30.
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Quarter 3 - July, August, September
Expenses for July, Aug, Sept may be turned in no later than Sept 30.
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Quarter 4 - October, November, December
Expenses for Oct, Nov, Dec may be turned in no later than Dec 31.
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Roll Over
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Expense allotments will roll over per month, but not per quarter.
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Example: You have $100 remaining in your budget for January, this may roll over until it is used,
no later than March 31st.
What is an allowable expense?
150
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Expense allotments will roll over per month, but not per quarter.
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Preapproved Advertising specific to the loan officer-paid out of pocket and split 50/50 with
FirstBank on the employee’s expense report
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Preapproved marketing requests specific to the loan officer paid out of pocket and split 50/50
with FirstBank on the employee’s expense report
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Closing Gifts for Customers - All customer gifts must be properly documented with the business
purpose and have valid receipts or invoices.
Onboarding Manual
Confidential. Property of FirstBank. Not for Distribution.
