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Payroll Calendar Meeting

Payroll Calendar Meeting. Thursday, January 7 th , 2010. Problems with Current Payroll Calendar. Calendar Creep Every five years employees would be required to go three weeks between paychecks

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Payroll Calendar Meeting

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  1. Payroll Calendar Meeting Thursday, January 7th, 2010

  2. Problems with Current Payroll Calendar • Calendar Creep • Every five years employees would be required to go three weeks between paychecks • Employees are severely prepaid, making it difficult to recoup money upon terminations / resignations, etc. • Last paycheck is typically mid-June, confusing employee's about their last pay and which period it covers. • 27 pay year will need to be addressed in 2011/2012 Fiscal Year. This 27 pay year will cause confusion with employees about their salary and all deductions will need to be adjusted/modified. • Difficult to accurately project year end expenses to charge to prior year budgets with hourly / daily employees since payroll cycle is on a 2 week lag.

  3. Proposed 2010 – 2011 Payroll Calendar • Transitional Year for 12-Month Employees • 25 Paychecks (13 from July-Dec, 12 from Jan-June) • Checks would be dated and received on the 15th and 30th of every month with an extra check received on July 2nd, 2010 (This is the transitional check to get employees from the final pay in June (6/18/10) to the first official pay in July 15th, 2010.) • Pay dates on Saturdays would be moved to Friday. Pay dates on Sundays would be moved to Mondays. • Checks/Paystubs would be delivered to work sites on payday. • Direct deposits would most likely “hit” employee’s accounts the previous night (availability of funds will depend on each banks individual procedures) • 2011 – 2012 Fiscal Year • 12-Month employees would receive 24 pay checks, starting on July 15th, 2011. • 10-Month Employees • 10-Month employees begin Semi-monthly payroll in 2010-2011 School Year with the first pay check being September 15th, 2010.

  4. Pro’s / Con’s to New Payroll Schedule • Pro’s • No more calendar creep issues. • More pay to employees in each paycheck. • Pay is more consistent for employees on monthly basis. • Comply with Auditors report to avoid pre-payment issues. • Payroll deductions are easily calculated. • Budgets will be more accurate with year-end payroll expenses. • Supervisors have more time to get paperwork (timesheets, change forms, employment recs) over to Personnel. • Con’s • Pay schedule for employees is not as consistent as in the past (pay dates may be on any day of the week) • Time gap between paychecks would be 15 days vs. the current 14 days for most pays.

  5. Current Deductions • COMBO and 12-Month employees • 20 deductions for Health/Dental Insurance Premiums, COMBO Dues/Fees, Benefit Trust Deductions • 26 deductions for TSA, ERS Loans and Arrears, Bank Deposits. • Teachers and 10-Month employees • 20 deductions for Health/Dental Insurance Premiums, Benefit Trust Deductions, TSA, and TRS Loans • 18 deductions for OCMBFT Dues/Fees • Misc deductions for United Way, Savings Bonds, etc. • Mid-Level Administrators • 20 deductions for Health/Dental Insurance Premiums, Benefit Trust Deductions, ESSAA Dues/Fees and TRS Loans • 26 deductions for TSA and Bank Deposits

  6. Proposed Deductions • COMBO and 12-Month employees • 20 deductions for Health/Dental Insurance Premiums, COMBO Dues/Fees, Benefit Trust Deductions • 24 deductions for TSA, ERS Loans and Arrears, Bank Deposits. • Teachers and 10-Month employees • 20 deductions for Health/Dental Insurance Premiums, Benefit Trust Deductions, TSA, and TRS Loans • 18 deductions for OCMBFT Dues/Fees • Misc deductions for United Way, Savings Bonds, etc. • Teachers receiving the “Balloon” payment would receive an additional 4 checks with the last paycheck in June • Mid-Level Administrators • 20 deductions for Health/Dental Insurance Premiums, Benefit Trust Deductions, ESSAA Dues/Fees and TRS Loans • 24 deductions for TSA and Bank Deposits

  7. 2010 – 2011 Proposed Pay Schedule (with Timesheet Information) DRAFT

  8. Examples of Changes in Paychecks(Teaching Assistant - NO balloon option)

  9. Examples of Changes in Paychecks(Teaching Assistant - YES balloon option)

  10. Examples of Changes in Paychecks(Teacher - NO balloon option)

  11. Examples of Changes in Paychecks(Teacher - YES balloon option)

  12. Examples of Changes in Paychecks(Admin/Combo – 12 Month Employees)

  13. Examples of Changes in Paychecks(Combo – 12 Month Employees)

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