O. ACCUMULATED UNUSED COMPENSATED ABSENCES:

City Commission · 2026-05-13 · agenda_item

This item concerns the accounting for accumulated unused compensated absences for city employees. The city records the vested portion of these absences at year-end, based on employee hours and pay rates, including the city's portion of Social Security and Medicare taxes. Compensated absences are accrued when earned by employees. A liability is reported in governmental funds only if these absences have matured, such as through employee resignations or retirements. This is a financial reporting and accounting matter. No construction or development is described in this item. Therefore, there are no direct opportunities for contractors, trades, suppliers, or service providers at this time.