Fiscal Year Cashout for Special & Overtime Compensation
John P. Kruczek, University Controller
University policy requires that USPS employees with special and overtime compensation be paid by fiscal year end. Unlike the special compensation “cash out” payments occurring during the year, this schedule “cash out” is processed and authorized via the Online Payroll Certification system. The hours for this “cash out” will be loaded from the Central Leave Master file as of the night of May 28, 1996 for processing with the payroll period ending May 30, 1996 and payday of June 7, 1996. More detail information maybe found in the Handbook for Business Procedures, Chapter 4, page D-40.
A report with employees’ accumulated special and overtime compensation has been sent to budgetary personnel for redistribution to colleges and departments. You may want to encourage employees with accumulated time to take time off before May 30, 1996. Alternatively, those with May 28, 1996 balances will be paid on the June 7, 1996 payday. For those administrators who use salary status commitment information, the special and overtime compensation liability is not included in that commitment data. Accordingly this cost is over and above the amounts reported in your salary status data.
Should you have any questions, please call Murphy Miller or Lynn Slaughter at 392-1231.