FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 1 7300. Payroll Guide, 7326 Sick Pay A. The Purpose of This Policy The purpose of this policy is to.

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FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc Payroll Guide, 7326 Sick Pay A. The Purpose of This Policy The purpose of this policy is to describe how our sick-pay policies affect payroll procedures. Continue ►

FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc Payroll Guide, 7326 Sick Pay B. Our Sick-pay Policy We do not pay hourly employees for absence due to illness at any MMI-managed hotel. We often pay salaried-exempt employees during periods of absence due to illness by not reducing their salaries, however. In effect, we sometimes pay salaried employees’ sick pay. When this occurs, it is important to record the amount of pay during the absence for two reasons:  The compensations should be accurately reported on the Income Statement as a benefit expense rather than a salary expense.Income Statement  By reducing our expense for salaries and wages, we may also reduce our expense for workers' compensation insurance, because workers' compensation premiums are based on a percentage of salaries-and-wages expense. The rules regarding this vary from state to state. Continue ►

FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc Payroll Guide, 7326 Sick Pay C. Responsibilities The general manager is responsible for keeping records of paid absences due to illness for salaried employees. He or she is responsible for reporting this information to the accounting administrator. The accounting administrator is responsible for making adjustments for sick pay when calculating the Hotel's workers' compensation insurance premium. End

FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc Payroll Guide, 7326 Sick Pay