Labor Distribution

Policy

FIACCT 17-02_11 Labor Distribution – Excess/Comp Pool – Department Benefit Rate

Purpose

This policy provides information concerning the Departmental Benefit Rate.


Background

The Departmental Benefit Rate is used to estimate the cost of benefits and potential salary increases at the point in time that comp or excess is used. This rate is determined by each department, and it can be changed any time throughout the year by sending written instructions to the Division of Finance, ATTN: Payroll Coordinator. If a department does not submit a rate to the Division of Finance, a default rate will be used.


Procedures

Responsibility

Action

For the initial setup or modification of the “Departmental Benefit Rate.

Departments

Determine the Departmental Benefit Rate to be applied to excess/comp payroll costs. Once the rate has been determined, notify the Payroll Coordinator in the Division of Finance so the rate can be modified.

If the Department does not determine a rate, the Division of Finance will use the established default rate.

Division of Finance

Division of Finance If the Department submits a Departmental Benefit Rate, then update the rate and notify the requestor that the change has occurred.

If the Department does not notify the Payroll Coordinator to use a
Departmental Benefit Rate, then the default rate established by the Division of Finance will be used.

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