Why is the published Annual Salary Rate different than what is actually earned in a calendar year?
The certified annual salary is based on fiscal year. So if you calculate the salary received from July 1, 2003 to June 30, 2004 you will arrive at the certified annual salary. Please see the following example:
Grade 10 step 18 annual salary $39,002.00 Bi-weekly $1,491.88
- July 1, 2003 crossover pay period ends 7/8/03:
- 8/14 of $1,491.88 = 852.50 (7/1/2003 - 7/8/03 = 8 days pay)
- 25 X $1,491.88 = 37,297.00 (7/9/2003 - 6/22/2004 = 25 bi-weekly pays)
- 8/14ths of $1,491.88 = 852.50 (6/23/2004 - 6/30/2004 = 8 days pay)
- Total Salary $39,002.00
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