A. Purpose
B. General Guidelines/Applicable Policies
C. Procedures
2. The following formula should be used for determining prorations of pay:
a. Period rate is defined as the annual salary of a full-time position divided by 12. (i.e., 1/12 of full-time annual salary).
b. Time worked shall be figured using a daily rate of pay based on week days only. Week days include holidays.
Joe Smith begins work May 14, 199X as a 12-month Assistant Professor at an annual salary of $35,000. Period rate for this salary amount is $2916.67. His salary will be computed:
($2916.67 divided by 23 Week Days) times 14 Days Worked = $1775.36
b. Example #2
Betty Brown is hired April 9, 199X, as secretary at an annual salary of $8,400.00. Period rate for that grade and step is $700.00. Her salary for April will be computed:
($700.00 divided by 21 Week Days) times 16 Days Worked = $533.33