Recipient Reporting Jobs Created and Retained.ppt

Recipient Reporting: Jobs Created and Retained March 2010 * Overview of Reporting Requirements The America Recovery and Reinvestment Act (Recovery Act) requires all recipients to report economic and financial performance data quarterly, via . The Office of Management and Budget issued updated reporting guidance on December 18, 2009, providing additional instructions for the reporting of job creation/retention data (/omb/assets/memoranda_2010/m10-08.pdf ). * Updated Job Guidance Moving forward, recipients should report job data quarterly, not cumulatively. Recipients should calculate the total number of jobs that were funded by the Recovery Act during the quarter. A funded job is defined as one in which the wages/salaries are either paid for or will be reimbursed with Recovery Act funding. Job created – a new position created and filled, or an existing unfilled position that is filled, and funded by the Recovery Act. Job retained – an existing position that is now funded by the Recovery Act. A job is either created or retained, but it cannot be both. The job data should include the sum of prime recipient, sub recipient, and vendor jobs created/retained (recipients should avoid double-counting). Instructions for Calculating Jobs Step 1: Calculate Quarterly Hours in a Full-Time Schedule. A. Determine the standard hours in a full-time work week schedule, as illustrated below. This example uses 40 hours, but this number may vary depending on how an organization defines a full-time schedule. B. Multiply the full-time work week number by 13 weeks to determine the quarterly hours. C. Example: 40 Hours (full-time work week) X 13 weeks = 520 (Quarterly Hours) /omb/assets/memoranda_2010/m10-08.pdf, p. 23 * Instructions for Calculating Jobs Step 2: Calculate the Full Time Equivalent (FTE) for this Quarter. Total the number of hours worked in positions funded by the Recovery Act within the current quarter (for all employees). It is possible that an employee spends a