STATE OF CONNECTICUT
OFFICE OF THE COMPTROLLER
GAAP REPORTING FORM
COMPENSATED ABSENCES
FOR THE FISCAL YEAR ENDED JUNE 30, 1994

GAAP Form No.7

Instructions

Under GAAP, compensated absences represent a liability of the State for additional compensation earned by employees. This compensation is to be paid in the future in the form of vacation and sick leave benefits. Please complete columns 1-6 of GAAP Form No. 7 as follows:

  1. Enter the number of the fund in which the employees are compensated.
  2. Enter the total number of employees by fund.
  3. For all employees in the fund, enter the total number of accumulated vacation leave hours as of June 30.

    Note: For employees hired before June 30, 1977, the maximum number of vacation leave hours that an employee can accumulate is 840 hours (120 days); for employees hired after that date, the maximum number of vacation leave hours that an employee can accumulate is 420 hours (60 days). Do not exceed these limitations for any employee. If applicable, these limitations would be 960 and 480 hours, respectively, for all employees who work regularly eight hours a day.

  4. For all employees in the fund who have worked for the State for less than five years at June 30, enter the total number of accumulated sick leave hours as of June 30.

    Note: At retirement, the maximum number of sick leave hours that an employee is entitled to be paid for is 1680 hours (one-fourth of his accumulated sick leave hours to a maximum of sixty days). Do not exceed this limitation for any employee. If applicable, this limitation would be 1920 hours for all employees who work regularly eight hours a day.

  5. For all employees in the fund who have worked for the State for five or more years at June 30, enter the total number of accumulated sick leave hours as of June 30 (see note 4).
  6. Enter the average hourly salary as of June 30 for all employees within your agency.

    Note: Use payroll run for period ending June 23, 1994 (paid on July 7, 1994).

ACCOUNTING MANUAL 10-31 MAY 1994
Notes: GAAP Form No. 7
1. Read the instructions before completing this form.
2. Round off to whole numbers.
State of Connecticut
Office of the Comptroller
GAAP Reporting Form - Compensated Absences
For the Fiscal Year Ended June 30, 1994
1 2 3 4 5 6



Fund
Number



Number of
Employees
by fund



Number of
Accumulated
Vacation Leave Hours
All Employees

Number of
Accumulated
Sick Leave Hours
Employees
With Less Than "5"
Years of Service

Number of
Accumulated
Sick Leave Hours
Employees
With "5" or more
Years of Service




Average
Hourly Salary
All Employees

  $
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency Name_____________________________Agency #_____ Reminder This form is due on September 2, 1994 Prepared by_________________________________Date_____ When completed, return it with the (signature and title) GAAP Forms Control Sheet. Reviewed by_________________________________Date____ (signature and title) Agency Telephone #____________________________________
ACCOUNTING MANUAL 10-32 MAY 1994


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