Financial Policies

Policies related to the financial operation of the University of Pennsylvania

2400 - Payroll
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Last Reviewed March, 2020

2401 Earned Compensation – Academic Staff

To establish the period over which academic staff members (exempt and monthly paid) earn annual academic base salary and other compensation paid by the University. NOTE: Academic staff members occupy positions which are considered exempt from (not subject to) the provisions of the Fair Labor Standards Act.

2400 - Payroll

Provost

Last Reviewed April, 2020

2402 Earned Compensation – Exempt Monthly-Paid

To establish the period over which staff in exempt monthly-paid positions/on Salary Compensation Plans earn compensation (i.e., annual base salary paid by the University). NOTE: Staff in exempt monthly-paid positions/on Salary Compensation Plans occupy positions that are determined to be exempt from (i.e., not subject to) overtime, based on the provisions of the Fair Labor Standards Act (FLSA).

2400 - Payroll

Human Resources

Last Reviewed April, 2020

2403 Earned Compensation – Non-Exempt Weekly-Paid

To establish the period over which staff in non-exempt weekly-paid positions/on Hourly Compensation Plans, including those covered by collective bargaining agreements, earn compensation (i.e., hourly wage paid by the University). NOTE: Staff in non-exempt weekly-paid positions/on Hourly Compensation Plans, including those covered by collective bargaining agreements, occupy positions that are determined to not be exempt from (i.e., are subject to) the provisions of the Fair Labor Standards Act (FLSA).

2400 - Payroll

Human Resources

Last Reviewed April, 2020

2404 Earned Compensation – Professional, Administrative and Support Staff

To establish policy for the payment of additional pay (other than job-related overtime for bargaining unit employees and staff members on Hourly Compensation Plans) to staff members on Hourly and Salary Compensation Plans who provide additional services beyond the scope of their normal employment.

2400 - Payroll

Human Resources

Last Reviewed April, 2020

2405 Overtime Payments – Non-Exempt Weekly Paid

To establish policy governing the approval of, and payment for, job-related overtime to staff in non-exempt weekly-paid positions/on Hourly Compensation Plans, including those covered by collective bargaining agreements.

2400 - Payroll

Human Resources

Last Reviewed April, 2020

2406 Salaries and Wage Payments

To define the circumstances under which the Comptroller will make salary and wage payments and to identify the methods of payment available to University employees.

2400 - Payroll

Comptroller

Last Reviewed April, 2020

2407 Payroll Cycles

To define and establish the University's payroll cycles and pay dates.

2400 - Payroll

Comptroller

2408 Time Reporting

To establish policy governing time reporting for weekly-paid staff who follow positive pay reporting. Positive pay reporting is accurately entering/recording all hours worked, compensatory time and time away from work, including but not limited to paid time off (PTO), sick, holiday, bereavement, jury duty and military leave with pay.

2400 - Payroll

Human Resources

Last Reviewed April, 2020

2409 Retroactive Pay

To establish policy for the payment of retroactive salary adjustments as the result of promotion or reclassification.

2400 - Payroll

Human Resources

Last Reviewed April, 2020

2410 Overpayments

To establish policy regarding salary and wage overpayment and to assign responsibility for identifying and remedying the overpayment.

2400 - Payroll

Comptroller