Policy Notes: Vacation Balance Funding
Beginning 9/1/03, the University instituted a vacation accrual charge on all staff and Bargaining Unit wages to fund a central vacation pool. When employees take vacation this central pool is charged.
Departments are required to fund 9/1/03 vacation balances for their employees. To originally fund the central vacation pool:
- On 9/1/03, a snapshot of accrued vacation balances for employees at that time was recorded.
- The University funded the central vacation pool for the accrued vacation balances by effectively loaning the departments the money.
- When an employee transfers to a new department, or when an employee terminates, the department is responsible for funding this "loan" to the central vacation pool. Departments may also opt to fund the central vacation pool for some, or all, of their employees (with outstanding unfunded vacation balances from 9/1/03) at any time.
Funding an Employees's 9/1/03 Vacation Accrual
Departments are required to complete the Vacation Accrual Balance Funding Form to fund an employee's 9/1/03 vacation balance.
- On the form, indicate the PTA(s) to charge.
- Submit the completed form to the LD Coordinator at LD_Coordinator1@lists.stanford.edu.
- The LD Coordinator will initiate a journal to charge the specified PTA(s).
It is only appropriate to charge a restricted PTA for vacation earned while the employee's work benefited the PTA. To calculate the amount that can be charged to a particular restricted PTA, refer to the Vacation Accrual Balance Template.
Primary Policy Sources: Administrative Guide Policy 2.1.6: Vacations, Section 2h