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Explanation of Monthly Compensation Changes

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Presentation on theme: "Explanation of Monthly Compensation Changes"— Presentation transcript:

1 Explanation of Monthly Compensation Changes
*Example ONLY – Calculations Approximate **Additional Holiday used for annualized salary calculation.

2 Annual Income = $29,600 (185 Days, $20/hr, 8 Hours.)
Holiday Pay = $2,400 (**15 days, $20/hr, 8 Hours.) School Year Vacation Pay = $1,600 (10 days, $20/hr, 8 Hours.) *Example Total Income = $33,600 Aug School Begins Sep. 2015 Oct. 2015 Nov Recess Period Dec Recess Period Jan. 2016 $1411 $3541 $3541 $3541 $3541 $3541 Approx. 2 Recess Days Approx. 6 Recess Days Use of Vac. Bal. Days 1-2 Use of Vac. Bal. Days 3-8 Feb Recess Period Mar. 2016 Apr Recess Period May 2016 Jun School Ends Jul Non Worked Non Paid $3381 $ $160 $3541 $2901 $ $640 $3541 $1120 $0 Approx. 3 Recess Days Approx. 4 Recess Days **Additional Holiday used for annualized salary calculation. Use of Vac. Bal. Days 9-10- 1 Day AWOP Use of Vac. Bal. 4 Days AWOP

3 Annual Income = $29,600 (185 Days, $20/hr, 8 Hours.)
School Year Holiday Pay = $2,400 (**15 days, $20/hr, 8 Hours.) Vacation Pay = $1,600 (10 days, $20/hr, 8 Hours.) *Example Total Income = $33,600 Aug School Begins Sep. 2016 Oct. 2016 Nov Recess Period Dec Recess Period Jan. 2017 $ $ $ $ $ $ Approx. 2 Recess Days Approx. 7 Recess Days Feb Recess Period Mar. 2017 Apr Recess Period May 2017 Jun School Ends Jul Non Worked Non Paid $ $ $ $ $ $0 Approx. 3 Recess Days Approx. 4 Recess Days **Additional Holiday used for annualized salary calculation.

4 **Additional holiday used for annualized Salary calculation.
The need to move away from 2 payroll systems. Consistent monthly pay. Employees that work any time over the recess period will turn in a time sheet to be paid for those hours. 10 Vacation days added into monthly salary computation. If an available balance, additional vacation days will be paid out for the remaining 6 recess days. *15 Holidays are added into the monthly salary computation. Allows full Benefit Deductions for June if applicable. **Additional holiday used for annualized Salary calculation.


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