The “Vacation Year” starts on January 16 of any year and ends on January 15 of the subsequent year.
Vacation accrues based on the number of hours you work each pay period, and on your years of service. Please refer to the following chart to determine how many hours you could receive per month and annually if you are a full time employee.
Leave balances are updated when each payroll is run. Your leave balance will be up to date for all hours submitted by the 15th and 29th of every month.
The following information is important to know about how banner “rolls” your vacation balance at the end of the vacation year. The roll happens on the 1/29 payroll, which is the pay period of 12/30 – 1/15.
It is important to note that if your balance is close to 80 hours, you must anticipate the accrual that will happen on the 1/29 payroll and factor that in to determine if you will lose any vacation hours.
Jane Doe has worked for ACU for 5 years and has 90 hours of vacation on 12/30. If Jane doesn’t want to lose any vacation, she must take 15 hours of vacation from 12/30 – 1/15, calculated as follows:
90 (current balance)
+ 5 (approximate accrual on 1/29)
- 80 (amount of hours that can be rolled)
15 (hours that must be taken so that none are lost)
Why does vacation roll this way?
The accrual posted on 1/29 is factored into last year’s vacation balance because if your employment terminated, you would be paid for the hours you earn, which indicates in practice that those hours are available for your use as you earn them.
This can best be explained by another example: John Doe is moving from Abilene and must quit his job at ACU. His last day of employment will be on 1/12. John has been here 10 years and has a leave balance of 50 hours. Assuming John has faithfully turned in his time sheets and hasn’t used any vacation from 12/30-1/12, John will receive a vacation pay out of 54.61 hours, calculated as follows:
50.00 (current balance)
- 0.00 (leave taken from 12/30-1/12)
+ 4.61 (Approximate vacation accrual earned from 12/3-1/12)
54.61 (Vacation hours to be paid out, max of 80)