Excel 2007 by niusheng11

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									                                      The example below is based on a mid range mid step employee.
                                                                Year        Range        Step     Hourly               Yearly Gross       Potential
                                                                                                   rate                                     Loss
Step Freeze
      This calculation is made by taking the yearly salary   2008/2009    Range 16    Step #7      $20.06               $39,799.04
      the employee would receive before a Step freeze
      and deducting the salary the employee will receive     2009/2010    Range 16    Step #8      $20.66               $ 40,989.44 $      (1,190.40)
      after a Step freeze.
                                                                          $.60 per hr X 8hrs = $4.80 per day X 248 = $1,190.40
3% Salary Reduction
     This calculation is made by reducing the hourly          2008/2009    Range 16     Step #7   $20.06 -
     salary by 3%, recalculating the yearly salary and                                             $.60 =
     deducting this amount from the amount the                                                     $19.46               $ 38,608.64 $      (1,190.40)
     employee would have received before the
                                                                          $19.46 X 8 = $155.68 X 248 = $38,608.64
     Reduction.
                                                                          $39,799.04 - $38,608.64 = $1,190.40
     Depending when this was put into effect the
                                                              2009/2010    Range 16    Step # 8   $20.66 -
     numbers would be slightly different so both 08/09
                                                                                                   $.63 =
     and 09/10 steps have been calculated.
                                                                                                   $20.03                             $    (1,249.92)

                                                                          $20.03 X 8 = $150.24 X 248 = $39,739.52
                                                                          $40,989.44 - $39,739.52 = $1,249.92
5 Furlough days
      This calculation is based on five furlough days in     2009/2010    Range 16    Step #8      $20.66               $ 40,989.44 $        (846.40)
      the new fiscal year. In addition to the monies lost
      the employee would get the benefit of the extra 5                   $20.66 X 8hrs = $165.28 X 5 = $846.40
      days off.

       You can calculate your own amounts by using your hourly wage, times your daily hours worked, times your days worked in the year.
                                                 Example: $20.06 X 6 = $120.36 X 180 = $21,664.80
                               A freeze or a cut would cost you $648.00. Five furlough days would cost you $619.80.

								
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