[Msoadm] FY2020-21 VACATION LEAVE ACCRUAL RATES Mid-Year Decrease

[Bobbi A McCracken]

MEMORANDUM

TO:                  Campus Financial Staff

FROM:            Stephanie Flores, Interim Associate Vice Chancellor
                        Financial Planning and Analysis

DATE:            January 29, 2021


RE:                 Fiscal Year 2020-21 VACATION LEAVE ACCRUAL RATES





The following assessment rates were established to cover Vacation Leave Accrual effective July 1, 2020:





*       VLA Employee Group 2 (Accruing Staff/Non-Faculty Academic): 7.00%



*       VLA Employee Group 3 (FY Faculty): 5.00%





Due to changes in vacation usage related to Covid-19 and the increasing accrual balance, the following assessment rates have been established to cover Vacation Leave Accrual effective February 1, 2021 - June 30, 2021.





*       VLA Employee Group 2 (Accruing Staff/Non-Faculty Academic): 4.00%



*       VLA Employee Group 3 (FY Faculty): 3.00%




Charges will continue to be based on an assessment against actual payroll activity and will be reflected in account number 600200 for VLA Employee Group 2 and 400210 for VLA Employee Group 3 in the same Activity-Fund-Function combination in which payroll activity occurred.



If you have any questions, please contact Financial Planning & Analysis at budgetoffice at ucr.edu<mailto:budgetoffice at ucr.edu>.



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