9 CFR 391.3 – Overtime and holiday rates
For each calendar year, FSIS will calculate the overtime and holiday rates, per hour per program employee, provided pursuant to §§ 307.5, 350.7, 351.8, 351.9, 352.5, 354.101, 355.12, 362.5, and 381.38 of this chapter, using the following formulas:
Terms Used In 9 CFR 391.3
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(a) Overtime rate. The quotient of dividing the Office of Field Operations plus Office of International Affairs inspection program personnel’s previous fiscal year‘s regular direct pay by the previous fiscal year’s regular hours, plus the quotient multiplied by the calendar year’s percentage of cost of living increase, multiplied by 1.5, plus the benefits rate, plus the travel and operating rate, plus the overhead rate, plus the allowance for bad debt rate.
(b) Holiday rate. The quotient of dividing the Office of Field Operations plus Office of International Affairs inspection program personnel’s previous fiscal year’s regular direct pay by the previous fiscal year’s regular hours, plus the quotient multiplied by the calendar year’s percentage of cost of living increase, multiplied by 2, plus the benefits rate, plus the travel and operating rate, plus the overhead rate, plus the allowance for bad debt rate.
(c) FSIS will calculate the benefits rate, the travel and operating rate, the overhead rate, and the allowance for bad debt rate using the formulas set forth in § 391.2(b), and the cost of living increases and percentage of inflation factors set forth in § 391.2(c).