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UC DAVIS: ACCOUNTING AND FINANCIAL SERVICES November 7, 2000 DEANS, DIRECTORS, DEPARTMENT CHAIRPERSONS AND CAMPUS ADMINISTRATIVE OFFICERS: RE: Vacation Leave Assessment Rates for 2000-01 Campus vacation leave rates and reserve balances are reviewed periodically by Accounting and Financial Services and rate changes, when warranted, are determined by the Campus Accounting Officer. The monthly charge to the department is based on a rather complicated formula that includes: * leave accrual factor (leave hours earned per month by the employee); * benefits factor (employee's retirement category); * estimated usage factor (projected percentage of earned leave actually taken by employees on a macro basis) Rate changes are accomplished by changing the estimated usage factor to one that more accurately reflects expected leave usage patterns and that maintains the reserve balance at an appropriate level. We reduced the estimated usage factor from 90-93% to 70% effective July 1996 to eliminate the surplus in the reserve at that time. Our recent review revealed actual vacation usage has been exceeding our estimates and the reserve has fallen below our target level. The estimated usage factor will be increased to 100% for all fund sources effective with December 2000 payroll expense. Once the reserve balance reaches the desired level, the rate will be adjusted based on projected future usage patterns at that time. The change in assessment rates will not affect employees' vacation leave accrual rates. The assessment rates are monthly charges paid by departments for the purpose of maintaining reserve funds to pay employees for vacation leave. Please contact Cindy Jones at cynjones@ucdavis.edu if you have questions. Sincerely, Sharon Henn Interim Associate Vice Chancellor - Finance 00-147
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