Budgeted Hours definition
Budgeted Hours is defined as the number of hours that the Employer has designated for the position filled by an employee and does not include extra shifts that an employee may work.
Examples of Budgeted Hours in a sentence
Part time employees are assigned a time-benefit level according to the following table: Budgeted Hours/ Pay Period Time-Benefit Code Benefits and leave accruals are prorated according to this schedule.
So total hours per reporting period per FTE are listed below: Reporting Period Q2: 975 hours per FTE Reporting Period Q3: 1462.5 hours per FTE Reporting Period Q4: 1950 hours per FTE Example: Assuming 5 FTE and reporting period is Q2 Total Budgeted Hours for GP and NP = # FTE * 975 = 5 * 975 = 4,875 Note: The sample calculation is based on a 37.5 hour work week (different hours would be applied to a 35 hour work week).