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 scheduled “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 26, 1998 for processing with the payroll period ending May 28, 1998 and payday of June 5, 1998. More information can be found in the Handbook for Business Procedures, Chapter 4, page 4D-1.14 or you can access the Handbook via the Administrative Affairs Home Page at http://www.admin.ufl.edu.

A report with employees’ accumulated special and overtime compensation for your unit 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 28, 1998. Alternatively, those staff with unused balances as of May 26, 1998 balances will be paid on the June 5, 1998 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 expense is over and above the amounts reported in your salary status data.

Should you have any questions, please call Murphy Miller, Lynn Slaughter or LaWanna Reaves at 392-1231.