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Policy Regarding Payment of Compensation and Reimbursements To and Time and Attendance of Senior Management

Purpose

This document formalizes the policy of the Dormitory Authority (the “Authority”) with respect to payment of compensation and reimbursements to and time and attendance of senior management of the Authority. 

Background

Public Authorities Law (“PAL”) § 2824(1) requires the Board of each State authority to establish a policy regarding payment of compensation and reimbursements to and time and attendance of senior management.  At present, such matters are covered by and regulated in the Authority’s By-Laws and Employee Handbook, respectively.  This policy formalizes the relevant provisions of those sources as official Authority policy in compliance with PAL § 2824(1).

Policy

The payment of compensation to Staff Officers of the Authority shall be made in accordance with the By-Laws of the Authority providing for the appointment of such Officers.  The annual compensation payable to Staff Officers shall be subject to annual review of the Governance Committee as provided in the Charter for that Committee. Staff Officers shall be subject to annual performance review as determined by the Board of the Authority.

Staff Officers shall adhere to the Employee Handbook as the same shall be amended or supplemented, including, but not limited to, those provisions pertaining to, work hours, pay practices, and employee benefits.

 

Dated: March 30, 2011

 

Dormitory Authority Meeting

A RESOLUTION OF THE MEMBERS OF THE DORMITORY AUTHORITY ADOPTING A POLICY REGARDING PAYMENT OF COMPENSATION AND REIMBURSEMENTS TO AND TIME AND ATTENDANCE OF SENIOR MANAGEMENT

WHEREAS, Public Authorities Law (“PAL”) § 2824(1) requires the Board of the Dormitory Authority (the “Board”) to establish a policy regarding payment of compensation and reimbursements to and time and attendance of senior management;

WHEREAS, the By-Laws of the Dormitory Authority provide that the Board shall appoint the staff officers, who shall hold office at the pleasure of the Board; and

WHEREAS, the Employee Handbook of the Dormitory Authority provides general information about Authority employee benefits and policies and procedures, including those related to time and attendance; and

WHEREAS, it is necessary to formalize the above-referenced provisions of the By-Laws and the Employee Handbook, as Dormitory Authority policy, in compliance with PAL § 2824(1);  

NOW, THEREFORE, BE IT RESOLVED as follows:

  1. The policy regarding payment of compensation and reimbursements to and time and attendance of senior management, attached hereto and made a part hereof, is approved and adopted.
  2. This Resolution shall take effect immediately.