Document Code: NeftalyP196
Approved By: Chief Executive Officer (CEO)
Date Approved: 05 November 2025
Review Date: 28 November 2026
NeftalyP196-1 Overview
NeftalyP196-1-1 The Neftaly Human Capital Expense Management Policy (NeftalyP196) defines the framework for controlling, recording, and reimbursing all expenses incurred by Neftaly Human Capital in the course of performing official duties. This policy ensures accountability, transparency, and alignment with Neftaly’s Royal financial governance standards.
NeftalyP196-2 Purpose
NeftalyP196-2-1 The purpose of this policy is to:
- NeftalyP196-2-1-1 Establish a standardized process for expense reporting and approval.
- NeftalyP196-2-1-2 Ensure that all expenses are necessary, reasonable, and aligned with Neftaly’s operational goals.
- NeftalyP196-2-1-3 Promote financial discipline and compliance with Neftaly’s Royal Finance regulations.
- NeftalyP196-2-1-4 Protect Neftaly assets through accurate expense documentation and review.
NeftalyP196-3 Scope
NeftalyP196-3-1 This policy applies to:
- NeftalyP196-3-1-1 All Neftaly Human Capital, including Officers, Deputy Chiefs, Royal Directors, and Non-Executive Members.
- NeftalyP196-3-1-2 All expenses incurred during the execution of official Neftaly duties, including travel, events, accommodation, training, and project-related expenditures.
- NeftalyP196-3-1-3 All Royal Divisions, regional offices, and affiliated entities operating under Neftaly’s governance.
NeftalyP196-4 Policy Statement
NeftalyP196-4-1 Neftaly is committed to maintaining transparent and efficient expense management processes. All expenses must be authorized before being incurred, properly documented, and supported by original receipts or electronic proof. Unauthorized or personal expenses will not be reimbursed and may lead to disciplinary action.
NeftalyP196-5 Core Principles
- NeftalyP196-5-1 Accountability: Each expense must be traceable and properly justified.
- NeftalyP196-5-2 Transparency: All expenditures must be recorded in Neftaly’s official accounting system.
- NeftalyP196-5-3 Authorization: Expenses require pre-approval by authorized personnel.
- NeftalyP196-5-4 Reasonableness: Expenses must be cost-effective and directly related to Neftaly’s objectives.
- NeftalyP196-5-5 Compliance: All financial activities must adhere to Neftaly’s Royal Financial and Procurement policies.
NeftalyP196-6 Procedures and Processes
NeftalyP196-6-1 Expense Planning and Authorization
- NeftalyP196-6-1-1 Expenses must be pre-approved by the relevant Officer, Royal Director, or Deputy Chief.
- NeftalyP196-6-1-2 Submit the NeftalyF196-01 Expense Pre-Approval Form before committing any expenditure.
- NeftalyP196-6-1-3 Budget allocations must be verified against approved financial plans.
NeftalyP196-6-2 Expense Submission
- NeftalyP196-6-2-1 Human Capital must submit all claims within 10 working days after incurring an expense.
- NeftalyP196-6-2-2 Use NeftalyF196-02 Expense Claim Form accompanied by valid receipts or electronic payment confirmations.
- NeftalyP196-6-2-3 Claims without adequate proof will not be processed.
NeftalyP196-6-3 Verification and Approval Process
- NeftalyP196-6-3-1 Officers review submitted claims for completeness and validity.
- NeftalyP196-6-3-2 Verified claims are forwarded to the Royal Director or Deputy Chief for approval.
- NeftalyP196-6-3-3 Approved claims are recorded in the NeftalyD196-01 Expense Register maintained by the Finance Office.
NeftalyP196-6-4 Reimbursement
- NeftalyP196-6-4-1 Approved reimbursements are processed within 15 working days of submission.
- NeftalyP196-6-4-2 Payments are made via official Neftaly banking channels; cash reimbursements are discouraged.
- NeftalyP196-6-4-3 Acknowledgment of payment must be signed or confirmed electronically using NeftalyF196-03 Reimbursement Acknowledgment Form.
NeftalyP196-6-5 Expense Reporting and Monitoring
- NeftalyP196-6-5-1 Monthly expense summaries must be prepared by each Royal Division using NeftalyR196-01 Monthly Expense Report Template.
- NeftalyP196-6-5-2 The Chief Human Capital Officer (CHCO) reviews and consolidates all reports for submission to the Chief Executive Officer (CEO).
- NeftalyP196-6-5-3 Regular expense audits are conducted to ensure accuracy and compliance.
NeftalyP196-6-6 Non-Reimbursable Expenses
Expenses not eligible for reimbursement include but are not limited to:
- NeftalyP196-6-6-1 Personal entertainment, fines, or penalties.
- NeftalyP196-6-6-2 Alcoholic beverages or luxury purchases.
- NeftalyP196-6-6-3 Unauthorized travel or accommodation upgrades.
- NeftalyP196-6-6-4 Non-business-related expenditures.
NeftalyP196-7 Roles and Responsibilities
| Role | Responsibilities |
|---|---|
| Chief Executive Officer (CEO) | Provides final oversight, approves major expenses, and ensures compliance with Neftaly policies. |
| Chief Human Capital Officer (CHCO) | Monitors expense management, consolidates reports, and ensures budget alignment. |
| Royal Directors | Approve divisional expenses and ensure proper documentation and controls. |
| Deputy Chiefs | Verify claims, support approvals, and monitor team compliance. |
| Officers | Review submissions, maintain records, and ensure accuracy. |
| Human Capital | Submit valid, pre-approved, and properly documented expenses. |
NeftalyP196-8 Documentation and Templates
- NeftalyP196-8-1 NeftalyF196-01: Expense Pre-Approval Form
- NeftalyP196-8-2 NeftalyF196-02: Expense Claim Form
- NeftalyP196-8-3 NeftalyF196-03: Reimbursement Acknowledgment Form
- NeftalyP196-8-4 NeftalyD196-01: Expense Register
- NeftalyP196-8-5 NeftalyR196-01: Monthly Expense Report Template
NeftalyP196-9 Compliance and Monitoring
- NeftalyP196-9-1 The CHCO and Finance Office will conduct quarterly reviews to verify adherence to this policy.
- NeftalyP196-9-2 Any misuse of funds or submission of fraudulent claims will lead to disciplinary measures, including potential termination or legal action.
- NeftalyP196-9-3 All Neftaly Human Capital must attend periodic financial accountability training.
NeftalyP196-10 Review and Evaluation
NeftalyP196-10-1 This policy will be reviewed annually by the CHCO in consultation with the Finance Office and approved by the CEO to ensure continued relevance and compliance with Neftaly’s financial and Royal governance frameworks.
NeftalyP196-11 Frequently Asked Questions (FAQs)
Q1: When should I submit my expense claim?
A: Within 10 working days of incurring the expense.
Q2: Do I need approval before making an expense?
A: Yes, pre-approval is mandatory for all Neftaly-related expenditures.
Q3: What happens if I lose my receipt?
A: Complete a lost receipt declaration; repeated incidents may lead to non-reimbursement.
Q4: Can I claim for meals during travel?
A: Yes, within approved daily meal allowance limits.
Q5: What if my expense is rejected?
A: The claim will be returned with reasons for rejection; you may correct and resubmit if valid.
Approved By:
Neftaly Malatjie
Chief Executive Officer