Mileage rate affects state agency budgets
Monday, September 26th 2005, 6:39 am
By: News On 6
State agencies are being forced to set aside millions of dollars. That's because of an increase in the mileage reimbursement rate.
Recent jumps in fuel prices have forced the IRS to increase the rate from 40.5 cents a mile to 48.5 cents. The increase applies to those who drive their own vehicles for business purposes.
The increase has forced state agencies to adjust their budgets to keep from overspending.