Method of Accrual Sample Clauses

The "Method of Accrual" clause defines how and when financial obligations, such as interest, fees, or expenses, are recognized and recorded over time in a contract. Typically, this clause specifies whether accrual is calculated on a daily, monthly, or other periodic basis, and may outline the specific accounting method to be used, such as accrual or cash basis. By clearly establishing the timing and method for recognizing amounts owed, this clause ensures consistency in financial reporting and helps prevent disputes over when payments or liabilities are due.
Method of Accrual. At the beginning of each school year or at the time of employment, each teacher shall be credited with a twelve (12) day sick leave allowance to be used for absences caused by illness or physical disability of the teacher. For part-time teachers and teachers who begin after the first day school convenes, or teachers who take unpaid leaves of absences, as of the last duty day, accrual shall be on a pro rata basis to the nearest half day.
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Method of Accrual. Vacation leave shall accrue bi-weekly by dividing the total “Hours of Accrued Vacation” by the number of pay periods in the payroll year.
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Method of Accrual. All full-time administrators shall earn sick leave at the rate of twenty (20) days for each year of service in the employ of the School District. Annual sick leave shall accrue in a lump sum on the first day of work in the new fiscal year. If an administrator leaves the employ of District 877 and has used more sick leave than he/she has earned, the excess shall be repaid to the District.
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Method of Accrual a. Effective October 1, 2005 All Bargaining Unit employees coded twenty (20) hours or more are eligible to use eight (8) hours of education leave. b. Effective January 1, 2006 1) On January 1 of each year all unused individual education hours will roll over to an education leave pool. 2) All Bargaining Unit employees coded twenty (20) hours or more will be granted sixteen (16) hours education leave on January 1st each year. 3) Education leave pool hours are available on first come, first serve basis up to twenty-four (24) hours per employee per year, after use of all individual education leave hours (with supervisor approval based on operational needs). 4) Unused education leave pool hours do not carry forward to the subsequent year. 5) Education days will be prorated upon employment and can be accessed upon completion of probation. 6) Once the National Agreement Workforce Development Coalition Trust has been implemented, the education leave language will be reviewed. (See Section 1.D.1 of the National Agreement). 7) Unused education leave will be forfeited upon termination of employment.
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Method of Accrual. An Employee shall accrue a maximum of 8 hours of inclement weather in each single calendar month. The entitlement shall accumulate month to month to a maximum of 24 hours. Entitlement and accrual of inclement weather shall accrue on the last day of each completed calendar month of service. Inclement weather shall not be paid where such climatic conditions prevail during overtime or weekend work.
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Method of Accrual a. Effective October 1, 2005 b. Effective January 1, 2006 1) On January 1 of each year all unused individual education hours will roll over to an education leave pool. 2) All Bargaining Unit employees coded twenty (20) hours or more will be granted sixteen (16) hours education leave on January 1st each year. 3) Education leave pool hours are available on first come, first serve basis up to twenty-four (24) hours per employee per year, after use of all individual education leave hours (with supervisor approval based on operational needs). 4) Unused education leave pool hours do not carry forward to the subsequent year. 5) Education days will be prorated upon employment and can be accessed upon completion of probation.
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Related to Method of Accrual

  • Method of Accounting The Company will use the method of accounting previously determined by the Members for financial reporting and tax purposes.

  • Method of Compensation It is understood by the parties that, insofar as pay is concerned, employees temporarily filling a position in a higher broadband level shall be paid according to the same compensation method as promoted employees pursuant to the Rules of the State Personnel System.

  • Method of Billing Consultant may submit invoices to the City for approval on a progress basis, but no more often than two times a month. Said invoice shall be based on the total of all Consultant’s services which have been completed to City’s sole satisfaction. City shall pay Consultant’s invoice within forty-five (45) days from the date City receives said invoice. Each invoice shall describe in detail, the services performed, the date of performance, and the associated time for completion. Any additional services approved and performed pursuant to this Agreement shall be designated as “Additional Services” and shall identify the number of the authorized change order, where applicable, on all invoices.

  • Method of Calculation All calculations under this Section 4 shall be made to the nearest one hundredth of a share.

  • Method of Computation To determine the Adviser’s liability with respect to the Excess Amount, each month the Fund Operating Expenses for the Fund shall be annualized as of the last day of the month. If the annualized Fund Operating Expenses for any month exceeds the Operating Expense Limit of the Fund, the Adviser shall first waive or reduce its investment advisory fee for such month by an amount sufficient to reduce the annualized Fund Operating Expenses to an amount no higher than the Operating Expense Limit. If the amount of the waived or reduced investment advisory fee for any such month is insufficient to pay the Excess Amount, the Adviser shall also remit to the Fund an amount that, together with the waived or reduced investment advisory fee, is sufficient to pay such Excess Amount.