Common use of Holiday Accrual Bank Clause in Contracts

Holiday Accrual Bank. For those employees whose regular work schedules preclude them from celebrating City- recognized holidays on the designated days, a holiday accrual bank shall be used for recording earned holiday hours. The maximum amount of holiday hours to be accrued during any fiscal year shall not exceed 104 for nonshift employees and 157.29 for shift employees. Holiday leave shall be used in the year it is earned and shall not be carried over to the following fiscal year. On July 1 of each year, any remaining holiday leave accrual from the previous fiscal year will be forfeited. Holiday leave taken on a day other than an actual City-recognized holiday shall be granted at the discretion of the department head. Employees leaving City service with accrued holiday leave shall be paid the amount of accrued holiday hours to the date of termination. Payments for accrued holiday time shall be at the employee's current hourly rate of pay.

Holiday Accrual Bank. For those employees whose regular work schedules preclude them from celebrating City- City-recognized holidays on the designated days, a holiday accrual bank shall be used for recording earned holiday hours. The maximum amount of holiday hours to be accrued during any fiscal year shall not exceed 104 for nonshift employees and 157.29 for shift employees. Holiday leave shall be used in the year it is earned and shall not be carried over to the following fiscal year. On July 1 of each year, any remaining holiday leave accrual from the previous fiscal year will be forfeited. Holiday leave taken on a day other than an actual City-recognized holiday shall be granted at the discretion of the department head. Employees leaving City service with accrued holiday leave shall be paid the amount of accrued holiday hours to the date of termination. Payments for accrued holiday time shall be at the employee's current hourly rate of pay.