To: University Business Managers, MOU Financial Leads, HR Officers
From: Walter Miller, Director, Payroll Services
Please see below for the memorandum explaining the calculation of biweekly regular pay, which was included in the B26 paystub notification dated July 6, 2018, for all SHRA Permanent Staff.
CALCULATION OF BIWEEKLY REGULAR PAY
FOR SHRA PERMANENT STAFF
July 1, 2018
Each year information is provided to explain the method used to calculate your biweekly regular pay. The calculation method used each fiscal year appropriately calculates your regular biweekly pay. Since the 26 biweekly payrolls cover a different time period than the University’s fiscal year, it is important to explain how your biweekly regular pay is calculated.
Your biweekly regular pay is, of course, based on your annual salary for the fiscal year. The University’s fiscal year is from July 1 through June 30. Your biweekly regular pay for each fiscal year is dependent on the number of workdays in that fiscal year. Each biweekly pay period represents 80 work hours, which typically represents 8 hours a day for 10 days.
The number of workdays in a fiscal year will vary. For the 2018-2019 fiscal year, there are 260 workdays, which represent 2080 work hours (260 workdays x 8 hours a day). The number of workdays and work hours for the next 3 fiscal years are displayed below:
|Fiscal Year||Workdays||Work Hours|
Fiscal year 2018-2019 contains 26 biweekly payrolls. Biweekly payrolls 01 through 26 in fiscal year 2018-2019 will provide pay for the pay periods from June 25, 2018, through June 23, 2019. Monday through Friday, June 11-15 and Monday through Friday, June 18-22, 2018 will be paid as part of Biweekly 26 on July 6, 2018.
Your biweekly regular pay for the 2018-2019 fiscal year will be calculated as in prior years. Your annual salary is divided by the number of hours in the fiscal year (2080 hours for 2018-2019) and multiplied by the 80 hours in the biweekly pay period. Please contact your Human Resources Representative if you have any questions. Thank you.