Common use of FISCAL YEAR BASIS Clause in Contracts

FISCAL YEAR BASIS. Vacation leave shall be computed and scheduled on a fiscal year basis (October 1 through September 30). Vacation leave for seniority employees shall be computed as of October 1 of each year in accordance with their credited service in the preceding fiscal year, but in no event shall an employee accrue more than six (6) weeks vacation leave with 240 hours pay. Vacation leave must be taken during the fiscal year following the fiscal year in which it is earned. Vacation leave cannot be taken during the fiscal year in which it is earned.

FISCAL YEAR BASIS. ‌ Vacation leave shall be computed and scheduled on a fiscal year basis (October 1 through September 30). Vacation leave for seniority employees shall be computed as of October 1 of each year in accordance with their credited service in the preceding fiscal year, but in no event shall an employee accrue more than six (6) weeks vacation leave with 240 hours pay. Vacation leave must be taken during the fiscal year following the fiscal year in which it is earned. Vacation leave cannot be taken during the fiscal year in which it is earned.