OV5 (Payroll Voucher for Overtime)
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The College of Liberal Arts has an overtime banking agreement with Human Resource Services. Per the agreement, full-time employees who are non-exempt (eligible to earn overtime) may use their accrued overtime balances as leave until August 31. If the employee is unable to use all of their overtime as leave, then any remaining balance must be paid out on an OV5 on August 31.
Part-time employees who are non-exempt (eligible to earn overtime) must be paid via OV5 for any time worked over their appointed number of hours every month. Part-time non-exempt employees are not allowed to bank overtime or accrue comp time.
How It Works
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- Near the end of July, the designated HR contact for each unit will receive a quarterly overtime report for the unit. The HR contact should review the timesheets of all employees who show up on the report to make sure that all timesheets are approved, and the balances reflected are correct.
- The HR contact should contact each employee and let them know that with their supervisor’s approval, they need to use their overtime balance before August 31.
- In the middle of August, staff members need to submit an estimate of the year’s accumulated overtime that they will not be able to use as leave by the end of the month. This can be done via email, phone, etc.
- To pay out this overtime, departmental administrators need to process an OV5 document in *DEFINE before 8/31. This ensures that the staff member will be paid at the current rate.
When completing the OV5:
- Use the same account number with which the staff member is appointed.
- Enter the hours.
- In the document notes, explain how the number of hours was calculated. For example, “This is the estimated number of hours that this person won’t use as leave before 8/31.”
- After the OV5 is final approved, use the ETA command in *DEFINE to remove the overtime hours from the employee’s leave balance. The overtime hours will not be deducted automatically. When you make the adjustment in ETA, put the OV5 document ID in the reason box.
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- For more on the differences between comp time and overtime, and who is eligible to earn both, please see the timekeeping page.
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Please direct comments on the Procedures Guide to firstname.lastname@example.org
Last Modified: 11 September 2009