POLICY
The salary and related fringe benefit charge resulting from vacation
time is charged to a Benefits Office budget instead of the Department/Division
budget.
PROCESS
When an Electronic Time Sheet (E210) is approved with vacation time,
an automated salary transfer takes place to charge the vacation
salary and related fringe benefit to the Benefits Office budget
and credit the originating budget.
FINANCIAL IMPLICATIONS IN KSAS
The funding to the Benefit Office to pay for the vacation charges
comes from an increased fringe benefit rate. The Dean's Office pays
this when appropriations with the higher rate are made to the department
budgets.
The illustration below shows how financial equity is achieved
between the Dean's Office and the Departments in KSAS. We realize
the cumbersome nature of these transactions, but it was the only
solution that we could attain from the Controller's Office.
EXAMPLE
1. Dean's Office allocates $500 to Department budget for an
increase in the fringe benefit rate.
2. Department uses $500 to pay for salary and related fringe benefit.
3. Department budget receives $500 credit for vacation salary and
related fringe benefit when e210 is approved.
4. Object code 0960 is debited to department budget and credited
to Dean's budget to create financial equity with the preceding transactions.
|
DEPARTMENT
|
DEAN
|
| 1.
+$500 |
1.
-$500 |
| 2.
-$500 |
|
| 3.
+$500 |
|
| 4.
-$500 |
4.
+$500 |
|
|
|
0
|
0
|
TOP
TOP
TOP
|
