Payroll Procedures - Financial Services

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Payroll Procedures

Direct Deposit • Income Tax Withholding • Pay Stub • Address Change • Time Sheet • Find the Current Fringe Benefit Rates

Direct Deposit

Have you ever made frantic dash to the bank to deposit your paycheck and arrive just as they lock the doors? Or dug through your mail for the third time on payday before finally realizing that the post office has done it to you again? If so, then direct deposit may be the answer for you. With direct deposit, your paycheck is automatically credited to your bank account on payday - no waiting, no worrying, no hassle. To sign up, simply prepare a Form Finance-224 (you knew there would be a form) and send it to the Financial Services office along with a voided blank check or deposit slip. This form is also used to change or stop your current direct deposit. As a condition of employment, all new employees are required to sign-up for direct deposit.

Income Tax Withholding

To change your federal withholding amount, submit a signed copy of IRS Form W-4. You can download this form from the IRS website or contact the Financial Services. If you are claiming the same number of exemptions for state withholding as you are for federal withholding, no state form is required. However, if you want to adjust your state withholding allowances submit a signed copy of Form AR4EC. This form can be obtained from the Arkansas Department of Finance and Administration website or by contacting the Financial Services office.

Pay Stub

Your payroll history beginning January 1, 1998 through the most recent pay period is available through Banner Self-Service. Through this service you can access any pay stub for that time frame.

Address Change

Your personal information can be updated through Banner Self-Service or by contacting the appropriate administrative or district office secretary.

Time Sheet

The time sheet form is used to report your hours worked and leave taken for each pay period. Time should be reported in quarter hour increments, such as 7.25, 7.50, 7.75. The proper form to use and the information required is dependent on your classification:

Division Time Sheet - Banner (Excel)

Division Time Sheet Visually Impaired Version only

Time sheet for All Non-Exempt Appointed Employees Payrolled Thru BANNER. This includes hourly and temporary employees. You are only required to report your annual leave, sick leave or other leave taken, and comp time earned or comp time taken as well as the hours worked.

Please refer to the payroll schedule or contact the payroll office if you have additional questions.

Fringe Benefit Rates

The fringe benefit rates for the fiscal year beginning July 1, 2010 through June 30, 2011 are listed in the following table. Please use these rate amounts when you calculate budgets for your sponsored projects or program proposals which will be awarded after July 1, 2010. The NIFA rate should be used for formula funding only, not competitive grants.

The new fringe benefit cost rates are as follows:

Regular and Overtime Wages	Institutional Rate	NIFA Programs
Salaries and Wages	26.90%	22.35%
Temporary Labor	7.60%	7.60%

The fringe rates for regular salary and wage amounts were computed as follows:

	Institutional Rate	NIFA Programs
Retirement	9.55%	5.00%
FICA	6.16%	6.16%
Medical / Dental Insurance	10.33%	10.33%
Life and Disability Insurance	0.36%	0.36%
Unemployment Insurance	0.13%	0.13%
Worker’s Compensation	0.29%	0.29%
Other Benefits	0.08%	0.08%

The fringe rates for temporary labor wages were computed as follows:

	Institutional Rate	NIFA Programs
FICA	6.16%	6.16%
Unemployment Insurance	0.13%	0.13%
Worker’s Compensation	0.29%	0.29%

This information is provided to you so that you can anticipate what fringes will be charged against your sponsored programs and projects during the next fiscal year ending June 30, 2011. The fringe benefit rates given above should be multiplied by anticipated salary costs to estimate fringe benefit costs for the next fiscal year. The detail on the rate computations is informational only.

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University of Arkansas • Division of Agriculture
Cooperative Extension Service
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Little Rock, Arkansas 72204 • USA
Phone (501) 671-2000

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Cooperative Extension Service Departments Financial Services Payroll Procedures

Cooperative Extension Service Departments
Financial Services
Payroll Procedures