Liability Calculation. The liability for accumulated annual leave, holiday leave, and PTO leave for each employee at September 30 equals the leave carried forward at the previous September 30 plus the leave earned, less the leave taken between October 1 and September 30. The liability is equal to the accumulated hours multiplied by the employees current hourly rate. The PTO liability is included in accrued expenses and other liabilities in the accompanying consolidated statements of net position, classified as current or non-current based on historical trends of PTO activity.
Appears in 3 contracts
Sources: Mission Agreement, Mission Agreement, Mission Agreement