Rank: Administration Groups: Administration
Joined: 10/6/2008 Posts: 27
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• New Guidance on how to Report on Jobs o Recipients will report job estimates on a quarterly basis. o How to calculate jobs created or saved: Determine the total number of hours worked by an employee in a Recovery Act job for the quarter. Divide the Total Hours by the quarterly hours in a full-time schedule. If a full-time schedule is 40 hours a week, multiply 40 hours x 52 weeks = 2,080 Total Hours per year. Divide 2,080 Total Hours by 4 to equal 520 quarterly hours.
Example: o If two full-time employees each worked 520 hours (1,040 hours) for the quarter and another half-time employee worked 260 hours, the Total Hours for the three employees is 1300 (520 + 520 + 260 = 1300). o Divide 1300 by 520 to equal 2.5 jobs created or saved.
For more information, see the Office of Management and Budget guidance (M-10-08).
The updated guidance defines jobs created or retained as those funded in the quarter by the Recovery Act. Jobs funded with non-Recovery Act funds will not be counted unless they will be reimbursed. Jobs funded partially with Recovery Act funds will only be counted based on the proportion funded by the Recovery Act.
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