We had this very issue. We gave all employees a grace period, I believe it was one year to bring the balances down. Once the grace period was over, the policy was enforced. Also, we did not allow anyone that retired/termed to receive a payout in excess ...

We are tracking separately and will then make a one-time adjustment at year-end. This will be easier than asking the department heads to learn the FLSA versus CBA rules. My accountant created a spreadsheet, one for each CBA (We have 3 that each have ...

Hi Samantha, I chose to track OT on a quarterly basis, but will be adding the qualified overtime amount at the end of the year in one import to our ERP system. So after each quarter, I run a report of the hours needed to calculate the overtime, work ...

For those of you that aren't FLSA compliant for overtime reporting in your payroll systems and are manually tracking that amount to report on the W-2s at the end of 2026, are you going to make a one-time adjustment in payroll at the end of each year or ...

When GASB 87 was issued we had just increased our capital asset threshold from $5,000 to $10,000, so we used our new standard of $10,000. With GASB 96 we used $50,000 due to the administrative burden that the standard creates. Our auditors didn't even ...