Mileage Reimbursement Rate | The Principia Community

The mileage reimbursement rate for 7/1/11-6/30/12 is $.34 per mile.

The mileage rate for each new fiscal year is recalculated on or about July 1 to reflect current market prices of gasoline and new car prices.

STANDARD RATE CALCULATION PROCEDURE
The mileage reimbursement calculation is based on the following inputs and assumptions:

Gas Cost	Price per gallon - Based on AAA averages for the St. Louis metro area on or about July 1 of each year – Regular unleaded – rounded up to the nearest $.05 Miles per gallon - 90% of Highway MPG average of the cars noted below.
50% depreciation factor	Based on 15,000 miles per year for 5 years. Original cost is based on the AAA listed MSRP on or about July 1 each year of a 4 cylinder Toyota Camry and Honda Accord with standard features.
Maintenance per year	$500 – to cover estimated expenses other than warranty repairs, oil changes and tires
Oil Changes	$35 per 3,000 miles (5 times per year)
Tires	$125 per tire with 50,000 mile life

7/1/11 Calculation

Gas Cost - $3.45 (AAA St. Louis Average) divided by 30 MPG (33 MPG * 90%) = $.12 per mile
50% Depreciation factor based on $24,535 / 5 years / 15,000 miles per year = $.33 * 50% = $.17 per mile
Maintenance - $500 / 15,000 = $.03 per mile
Oil Changes - $35 * 5 = $175 / 15,000 = $.01 per mile
Tires - $500 / 50,000 = $.01 per mile

Components	Per mile
Gas Cost	$0.12
Depreciation	.17
Maintenance	.03
Oil Changes	.01
Tires	.01
Total	$0.34

Standard Mileage Reimbursements:

Round Trip Campus to Campus – 92.8 miles or $31.54
Round Trip School Campus to Airport – 30.0 miles or $10.20
Round Trip College Campus to St. Louis Airport – 74.0 miles or $25.16