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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Viola Miller, CFO |
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PRESENTER(S): |
Rob Lamph, Comptroller |
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Mary Ann Schwalbendorf, Payroll Manager |
TITLE:
title
Disbursement: Employee Appreciation Holiday Gift
end
AGENDA ITEM TYPE:
Disbursement
RECOMMENDATION:
Approve the disbursement of the Holiday Appreciation Bonus to all employees.
BACKGROUND:
Historically UTA has given employees a grocery store gift card around the Thanksgiving holiday in appreciation for their hard work.
DISCUSSION:
We are proposing a change from a physical gift card to a disbursement through the employee’s paycheck to make the distribution more effective and efficient. When done by hand, the procurement, payroll, and office staffs spend many hours getting these cards out to our employees. Also, the cards must be purchased in advance, through a procurement resulting in purchasing more cards than required to ensure we have an adequate number of cards for our employee count on the day of distribution. By changing to acknowledgment through paycheck, UTA saves countless work hours and ensures all active employees on the day of disbursement receive the payment. Payment will be made via direct deposit or paper check depending on the employee’s current payroll selection. Disbursement will occur on a non-pay week to provide a distinct record of the gift. Disbursement is planned for November 21, 2024.
ALTERNATIVES:
Either continue to provide a physical card or not provide the Holiday Appreciation gift.
FISCAL IMPACT:
The cost for an estimate of 2900 employees is $597,255.00. This includes a gross up for taxes, so each employee receives a full $150 dollars. The final cost will depend on the number of active employees at time of disbursement.
ATTACHMENTS:
N/A