The University of Arizona’s fiscal year runs from July 1 through June 30. Because fiscal years can vary in the number of working days they contain, salaried employees may notice slight differences in their bi-weekly gross pay between fiscal years.
Important:
The number of working days/hours in a fiscal year do not affect an employee's actual salary. It only impacts how salaries are broken down across pay periods.
Key Facts
Three Possibilities in a Fiscal Year
- 2,080 hours (260 days | 26.0 pay periods)
- 2,088 hours (261 days | 26.1 pay periods)
- 2,096 hours (262 days | 26.2 pay periods)
A salaried employee's salary will be spread across the number of pay periods in the given fiscal year.
Example
Based on a $50,000 salary at 80 hours worked/pay period:
| Work Hours in a Fiscal Year | Calculation | Bi-Weekly Gross Earnings |
|---|---|---|
| 2,080 (26.0 pay periods) | $50,000/26 | $1,923.08 |
| 2,088 (26.1 pay periods) | $50,000/26.1 | $1,915.71 |
| 2,096 (26.2 pay periods) | $50,000/26.2 | $1,908.40 |
Frequently Asked Questions
No. Hourly employees' bi-weekly gross earnings are based only on the hours worked in the relevant pay period.
For current annualized fiscal hours and related calculations, review the current year's Calculation Survival Guide on the Calendars webpage.
If you have a question about the earnings displayed on a paycheck, please contact Payroll at 520-621-9097 or FNSV-Payroll-Info@arizona.edu.