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HomeMy WebLinkAboutRES 2007-46Resolution No. 2007-.,w-6 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DIAMOND BAR ESTABLISHING A COMPENSATION PLAN INCORPORTATING SALARY RANGES AND FRINGE BENEFITS ALL CLASSIFICATIONS OF EMPLOYMENT EFFECTIVE JULY 1, 2007 AND RESCINDING RESOLUTION NO. 2006-76 IN ITS ENTIRETY WHEREAS, the City Council of the City of Diamond Bar has adopted and amended the annual budget for fiscal year 2007-2008; WHEREAS, the City Council of the City of Diamond Bar wishes to establish salary ranges (Attachment 1, Schedule A -F) for the compensation of its employees, including cost of living adjustments and compliance with minimum wage requirements; and WHEREAS, it is necessary to assign each position to a job classification number that reflects the various levels as either non-exempt full-time (Schedule A), exempt full-time (Schedule B), exempt full-time management (Schedule C), executive management (Schedule D), non -benefited part-time (Schedule E) or benefited part-time (Schedule F) (Schedule A -F attached); and WHEREAS, it is necessary to establish benefits provided as compensation to employees of the City (Schedule G); and WHEREAS, it is necessary from time to time to establish comprehensive job classifications and salary schedules to fix the rate of compensation to be paid to employees of the City; NOW, THEREFORE BE IT RESOLVED, the City Council of the City of Diamond Bar, does hereby repeal all previous salary resolutions and establishes salary ranges for non-exempt full-time, exempt full-time, exempt full-time management, executive -management, non -benefited part-time, and benefited part-time as outlined in Salary Schedules A -F and previous rules and regulations resolutions establishing benefits provided to employees. PASSED, ADOPTED AND APPROVED this nineteenth day of June 2007. '77 Stevee, ayor 2007--46 I, TOMMYE A. CRIBBINS, City Clerk of the City of Diamond Bar, do hereby certify that the foregoing Resolution was passed, adopted and approved at a regular meeting of the City Council of the City of Diamond Bar held on the nineteenth day of June 2007, by the following vote: AYES: COUNCIL MEMBERS: clai,.itg, rverette xerrer ,, `:.2Pl. x4 `fye NOES: COUNCIL MEMBERS: it;oiie ABSENT: COUNCIL MEMBERS: None ABSTAIN: COUNCIL MEMBERS: iiaae i ATTEST: Tommye A. Cribbins, City Clerk City of Diamond Bar 007..4ta Schedule A CITY OF DIAMOND BAR COMPENSATION PLAN BY POSITION FY 2007- 2008 FULL TIME NON-EXEMPT POSITIONS (Job Classifications 1000-1599) Effective 07/01/07 RANGE JOB TITLE A B C D E F G 1037 Office Assistant 14.00 14.71 15.44 16.21 17.02 17.87 18.77 1,120.3908 1,176.4103 1,235.2308 1,296.9924 1,361.8420 1,429.9341 1,501.4308 2,427.51 2,548.89 2,676.33 2,810.15 2,950.66 3,098.19 3,253.10 29,130.16 30,586.67 32,116.00 33,721.80 35,407.89 37,178.29 39,037.20 1141 Account Clerk 11 15.40 16.17 16.98 17.83 18.72 19.65 20.64 Comm. Srvcs. Coord. 1,231.9088 1,293.5042 1,358.1794 1,426.0884 1,497.3928 1,572.2625 1,650.8756 OfFiceAssistant l/ 2,669.14 2,802.59 2,942.72 3,089.86 3,244.35 3,406.57 3,576.90 32,029.63 33,631.11 35,312.67 37,078.30 38,932.21 40,878.82 42,922.77 1203 Parks Maint. Wrkr. 11 16.24 17.05 17.91 18.80 19.74 20.73 21.76 Street Maint Wrkr. 9 1,299.2932 1,364.2579 1,432.4708 1,504.0943 1,579.2990 1,658.2640 1,741.1772 2,815.14 2,955.89 3,103.69 3,258.87 3,421.81 3,592.91 3,772.55 33,781.62 35,470.71 37,244.24 39,106.45 41,061.78 43,114.86 45,270.61 1257 Senior Acct Clerk 16.97 17.82 18.71 19.65 20.63 21.66 22.74 1,357.6977 1,425.5826 1,496.8617 1,571.7048 1,650.2901 1,732.8046 1,819.4448 2,941.68 3,088.76 3,243.20 3,405.36 3,575.63 3,754.41 3,942.13 35,300.14 37,065.15 38,918.41 40,864.33 42,907.54 45,052.92 47,305.56 1365 Administrative Assist. 17.89 18.78 19.72 20.71 21.74 22.83 23.97 Permit Technician 1,430.9982 1,502.5481 1,577.6755 1,656.5592 1,739.3872 1,826.3566 1,917.6744 3,100.50 3,255.52 3,418.30 3,589.21 3,768.67 3,957.11 4,154.96 37,205.95 39,065.25 41,019.56 43,070.54 45,224.07 47,485.27 49,859.53 1437 Accounting Tech. 19.41 20.38 21.39 22.46 23.59 24.77 26.00 Neighbrhd.lmprv. Mr. 1,552.4247 1,630.0460 1,711.5483 1,797.1257 1,886.9820 1,981.3310 2,080.3976 Recreation Spec. 3,363.59 3,531.77 3,708.35 3,893.77 4,088.46 4,292.88 4,507.53 Sr. Admin. Assist 40,363.04 42,381.19 44,500.25 46,725.27 49,061.53 51,514.61 54,090.34 Planning Tech. 1460 Accountantll 20.51 21.53 22.61 23.74 24.93 26.18 27.48 Building Inspector 1,640.7381 1,722.7750 1,808.9138 1,899.3595 1,994.3274 2,094.0438 2,198.7460 Parks & Maint InsplTech. 3,554.93 3,732.68 3,919.31 4,115.28 4,321.04 4,537.09 4,763.95 42,659.19 44,792.15 47,031.76 49,383.35 51,852.51 54,445.14 57,167.40 1470 Admin. Rec. Coord. 21.53 22.61 23.74 24.92 26.17 27.48 28.85 Rec. Specialist 11 1,722.3705 1,808.4890 1,898.9135 1,993.8592 2,093.5521 2,198.2297 2,308.1412 3,731.80 3,918.39 4,114.31 4,320.03 4,536.03 4,762.83 5,000.97 44,781.63 47,020.71 49,371.75 51,840.34 54,432.35 57,153.97 60,011.67 1475 Junior Engineer 22.61 23.74 24.92 26.17 27.48 28.85 30.29 1,808.4888 1,898.9133 1,993.8589 2,093.5519 2,198.2295 2,308.1410 2,423.5480 3,918.39 4,114.31 4,320.03 4,536.03 4,762.83 5,000.97 5,251.02 47,020.71 49,371.75 51,840.33 54,432.35 57,153.97 60,011.66 63,012.25 1480 Public Info. Coord. 25.61 26.89 28.24 29.65 31.13 32.69 34.32 2,048.8568 2,151.2996 2,258.8646 2,371.8078 2,490.3982 2,614.9181 2,745.6640 4,439.19 4,661.15 4,894.21 5,138.92 5,395.86 5,665.66 5,948.94 53,270.28 55,933.79 58,730.48 61,667.00 64,750.35 67,987.87 71,387.26 1490 Desktop Support Tech. 26.09 27.40 28.77 30.21 31.72 33.30 34.97 2,087.5271 2,191.9035 2,301.4987 2,416.5736 2,537.4023 2,664.2724 2,797.4860 4,522.98 54,275.71 4,749.12 56,989.49 4,986.58 59,838.97 5,235.91 62,830.91 5,497.70 65,972.46 5,772.59 69,271.08 6,061.22 72,734.64 Schedule B CITY OF DIAMOND BAR COMPENSATION PLAN BY POSITION FY 2007- 2008 FULL TIME EXEMPT POSITIONS (Job Classifications 1600 - 1999) RANGE JOB TITLE A B C D E F G 1635 Assistant Planner 22.07 23.17 24.33 25.55 26.82 28.16 29.57 Development Srvcs. Associate 1,765.3492 1,853.6167 1,946.2975 2,043.6124 2,145.7930 2,253.0827 2,365,736B Management Analyst 3,824.92 4,016.17 4,216.98 4,427.83 4,649.22 4,881.68 5,125.76 Recreation Supervisor 45,899.08 48,194.03 50,603.74 53,133.92 55,790.62 58,580.15 61,509.16 1752 Sr. Neighhrhd. Improv, Offcr. 23.72 24.91 26.15 27.46 28.83 30.28 31.79 1,897,7505 1,992.6380 2,092.2699 2,196.8834 2,306.7276 2,422.0640 2,543.1672 4,111.79 4,317.38 4,533.25 4,759.91 4,997.91 5,247.81 5,510.20 49,341.51 51,808.59 54,399.02 57,118,97 59,974.92 62,973,66 66,122.35 1897 Assistant Engineer 25.61 26.89 28.24 29.65 31.13 32.69 34.32 Parks & Maintenance Suprvs. 2,048.8582 2,151.3012 2,258.8662 2,371.8095 2,490.4000 2,614.9200 2,745.6660 PW Maintenance Superint. 4,439.19 4,661.15 4,894.21 5,138.92 5,395.87 5,665.66 5,948.94 Recreation Supervisor 11 53,270.31 55,933.83 58,730.52 61,667.05 64,750.40 67,987.92 71,387.32 1920 Senior Management Analyst 26.09 27.40 28.77 30.21 31.72 33.30 34.97 2,087.5271 2,191.9035 2,301.4987 2,416.5736 2,537.4023 2,664.2724 2,797.4860 4,522.98 4,749.12 4,986.58 5,235.91 5,497.70 5,772.59 6,061.22 54,275.71 56,989.49 59,838.97 62,830.91 65,972.46 69,271.08 72,734.64 1987 Associate Engineer 26.83 28.17 29.57 31.05 32.61 34.24 35.95 Associate Planner 2,146.0188 2,253.3197 2,365.9857 2,484.2850 2,608.4992 2,738.9242 2,875.8704 Executive Assistant 4,649.71 4,882.19 5,126.30 5,382.62 5,651.75 5,934.34 6,231.05 Senior Accountant 55,796.49 58,586.31 61,515.63 64,591.41 67,820.98 71,212.03 74,772.63 1993 Parks & Maint. Superintendent 30.16 31.67 33.26 34.92 36.66 38.50 40.42 Senior Planner 2,413.1227 2,533.7788 2,660.4678 2,793.4912 2,933.1657 3,079.8240 3,233.8152 5,228.43 5,489.85 5,764.35 6,052.56 6,355.19 6,672.95 7,006.60 62,741.19 65,878.25 69,172.16 72,630.77 76,262.31 80,075.42 84,079.20 1996 Assist. to the City Manager 31.30 32.87 34.51 36.23 38.05 39.95 41.95 2,504.0461 2,629.2484 2,760.7108 2,898.7463 3,043.6836 3,195.8678 3,355.6612 5,425.43 5,696.70 5,981.54 6,280.62 6,594.65 6,924.38 7,270.60 65,105.20 68,360.46 71,778.48 75,367.40 79,135.77 83,092.56 87,247.19 1998 Network/ GIS Engineer 32.14 33.75 35.43 37.21 39.07 41.02 43.07 2,571.1398 2,699.6968 2,834.6816 2,976.4157 3,125.2365 3,281.4983 3,445.5732 5,570.80 5,849.34 6,141.81 6,448.90 6,771.35 7,109.91 7,465.41 66,849.63 70,192.12 73,701.72 77,386.81 81,256.15 85,318.96 89,584.90 1999 Senior Engineer 38.09 39.99 41.99 44.09 46.29 48.61 51.04 3,046.8154 3,199.1561 3,359.1139 3,527.0696 3,703.4231 3,888.5943 4,083.0240 6,601.43 6,931.50 7,278.08 7,641.98 8,024.08 8,425.29 8,846.55 79,217.20 83,178.06 87,336.96 91,703.81 96,289.00 101,103.45 106,158.62 Schedule C 1 1 2007--46 CITY OF DIAMOND BAR COMPENSATION PLAN BY POSITION FY 2007- 2008 FULL TIME EXEMPT MANAGEMENT POSITIONS (Job Classifications 2000 - 2899) RANGE JOB TITLE A B C D E F G 2300 PW Srvcs. Mgr. 33.31 34.97 36.72 38.56 40.49 42.51 44.64 2,664.7152 2,797.9509 2,937.8485 3,084.7409 3,238.9780 3,400.9269 3,570.9732 5,773.55 6,062.23 6,365.34 6,683.61 7,017.79 7,368.67 7,737.11 69,282.59 72,746.72 76,384.06 80,203.26 84,213.43 88,424.10 92,845.30 2400 Public Infor. Mgr. 34.32 36.04 37.84 39.73 41.72 43.80 45.99 Rec. Srvcs. Mgr. 2,745.6440 2,882.9262 3,027.0725 3,178.4262 3,337.3475 3,504.2149 3,679.4256 5,948.90 6,246.34 6,558.66 6,886.59 7,230.92 7,592.47 7,972.09 71,386.74 74,956.08 78,703.89 82,639.08 86,771.03 91,109.59 95,665.07 2571 Building Official 34.71 36.44 38.26 40.18 42.19 44.30 46.51 City Clerk 2,776.5251 2,915.3514 3,061.1189 3,214.1749 3,374.8836 3,543.6278 3,720.8092 HR Mgr. 6,015.80 6,316.59 6,632.42 6,964.05 7,312.25 7,677.86 8,061.75 Planning Mgr. 72,169.65 75,799.14 79,589.09 83,568.55 87,746.97 92,134.32 96,741.04 1 1 2007--46 Schedule D CITY OF DIAMOND BAR COMPENSATION PLAN BY POSITION FY 2007- 2008 EXEMPT EXECUTIVE MANAGEMENT POSITIONS (Job Classifications 2900 - 3900) RANGE JOB TITLE A B C D E F G 2985 City EngineerIPW Director 46.34 48.66 51.09 53.65 56.33 59.15 62.10 Comm. Dev. Director 3,707.4611 3,892.8341 4,087.4758 4,291.8496 4,506.4421 4,731.7642 4,968.3524 Comm. Srvcs. Director 8,032.83 8,434.47 8,856.20 9,299.01 9,763.96 10,252.16 10,764,76 Finance Director 96,393.99 101,213.69 106,274.37 111,588.09 117,167.49 123,025.87 129,177.16 Info. Systems Director 3172 Assistant City Manager 50.81 53.36 56.02 58.82 61.77 64.85 68.10 4,065.1606 4,268.4186 4,481.8396 4,705.9315 4,941,2281 5,188.2895 5,447.7040 8,807.85 9,248.24 9,710.65 10,196.19 10,705.99 11,24129 11,803.36 105,694.18 110,978.88 116, 527.83 122,354.22 128,471.93 134,895.53 141,640.30 Schedule E CITY OF DIAMOND BAR COMPENSATION PLAN BY POSITION FY 2007 - 2008 PART-TIME/HOURLY NON-EXEMPT/NON-BENEFITED POSITIONS C 4007...46 RANGE JOB TITLE A B C D E F G 515 Comm Srvcs. Wrkr. 8.22 8.64 9.08 9.53 9.98 10.49 11.02 537 Comm. Srvcs. Leader/ 8.99 9.42 10.17 10.86 11.59 12.30 12.94 753 Comm. Srvcs. Leader 11 10.16 10.86 11.59 12.30 13.04 13.78 14.50 Intern Facility Attendant 1 Maint. Worker 1 770 Facility Attendant 11 14.01 14.72 15.44 16.20 17.04 17.87 18.77 Maint. Worker If 775 Comm. Srvcs. Coord. 15.41 16.16 16.97 17.84 18.70 19.66 20.62 800 Engineering Aide 16.96 17.82 18.69 19.65 20.62 21.66 22.73 Schedule F PART-TIME/HOURLY NON-EXEMPT/ BENEFITED POSITIONS (Job Classifications 900 - 999) RANGE JOB TITLE A B C D E F G 937 Comm. Srvcs. Leader 1 8.99 9.42 10.17 10.86 11.59 12.30 12.94 953 Comm. Srvcs. Leader Il 10.16 10.86 11.59 12.30 13.04 13.78 14.50 960 Office Assistant 14.01 14.72 15.44 16.20 17.04 17.87 18.77 970 Public Info. Spec. 15.41 16.16 16.97 17.84 18.70 19.66 20.62 987 Neighbrhd. Imprv. Oficr. 19.41 20.36 21.40 22.47 23.59 24.77 26.01 995 HR Manager 34.70 36.44 36.26 40.18 42.18 44.29 46.51 C 4007...46 r 1 Schedule G Effective 07/01/07 CITY OF DIAMOND BAR COMPENSATION PLAN FY 2007-2008 BENEFITS Benefits Eligibility Details Benefit Allotment City Designated Officials, A monthly allotment of $895 (pro -rated for Regular Full -Time regular part-time employees) which can be and Regular Part- applied to selected benefit options. Time employees a) Members of the City Council, Executive upon hire. Management and employees defined as full-time exempt receive $925 per month. b) Premiums for selected benefits options are paid from the monthly benefit allotment. The total of all premiums for selected benefits that exceed the monthly health benefit allotment are paid at the employees' expense as a bi- weekly pre -taxed payroll deduction. c) Employees who are not encumbering their entire benefit allotment have those funds applied to a Section 457 deferred compensation plan offered through the International City Management Association ICMA . Health Benefit Designated officials, Health coverage offered through the Allotment regular full-time and California Public Employees' Retirement regular part-time System (CaIPERS). Employees may select employees upon hire from two HMO plans and two PPO options. or during the annual Premiums vary depending on the health open enrollment plan selected. If health coverage is period. selected, the premium is deducted from the monthly benefit allotment. Dental City*/ Designated Officials, Two dental plans are available (Delta Care Benefit Regular Full -Time Prepaid or Delta Dental DPO) to designated Allotment and Regular Part- officials and full time and regular part time Time employees employees and their eligible dependents. upon hire or during *The City pays for employee coverage. If the annual open dependent coverage is selected, the enrollment period. premium is deducted from the monthly benefit allotment. Delta Care Delta Care is a pre -paid dental plan, which offers affordable HMO coverage. This option provides orthodontics coverage. Delta Dental Delta Dental is Delta's Preferred Option (DPO) plan, which allows visits to any dentist of choice. The program provides the maximum benefit when using a DPO dentist. DPO dentists are Delta dentists who have agreed to charge DPO patients reduced fees. :007-46 Schedule G- continued Effective 07/01/07 Vision City*/ Designated Officials, *The City pays for employee coverage. If Benefit Regular Full -Time dependent coverage is selected, the Allotment and Regular Part- premium is deducted from the monthly Time employees benefit allotment. Vision Services Plan upon hire or during (VSP) network provides exams, prescription the annual open glasses, contact lenses, and a second pair enrollment period. of glasses each year. Co a s apply. Life/ ADD City Designated Officials, Life and Accidental Death and Insurance Regular Full -Time Dismemberment (ADD) Insurance and Regular Part- is provided to all Designated Officials Time employees ($10,000 benefit), Executive Management upon hire. ($200,000), Exempt Management ($150,000) and Full -Time and Regular Part - Time employees $75,000 benefit). Supplemental Employee, Designated Officials, If supplemental life insurance is selected, Life Insurance through the Regular Full -Time the premium is deducted from the monthly benefit and Regular Part- benefit allotment. Supplemental insurance allotment Time employees is purchased in increments of $10,000 up to upon hire. This is an $300,000. A spouse is eligible up to half optional benefit. the amount selected by the employee in increments of $10,000. The cost for each $10,000 of coverage is based on age. State Disability Employee, Designated Officials, This benefit provides affordable, worker - Insurance (SDI) through Regular Full -Time, funded benefits to eligible workers suffering mandatory Regular, seasonal, a full or partial loss of wages due to payroll and intermittent part- disabilities which are not work related for up deduction time employees upon to 12 months. Disability also includes hire. elective surgery and disabilities related to pregnancy or childbirth. Short-term & City Designated Officials, This benefit provides income replacement in Long-term Regular Full -Time, the event of a covered disability at 60% of Disability and Regular Part- salary up to a maximum of $1500 per week. (STD/LTD) Time employees upon hire. Retirement City pays Designated Officials, A comprehensive retirement through the both the Regular Full -Time, Public Employees' Retirement System employer's and Regular Part- (PERS). Full time or regular part time and the Time employees employees of the City are automatically employee's upon hire. enrolled as a member of PERS and do NOT contribution participate in Social Security. To become vested in PERS an employee must be a member for a minimum of five years. The current retirement formula is 2%@55 and benefits are based on the following: years of service (service credit); age at retirement; and highest salary for three consecutive years. Retirement- City/Emp. Seasonal and An employee's contribution rate is 6.2% on Social Security Through Intermittent Part -Time wages up to the maximum provided by law. mandatory employees upon hire. The employer's tax rate is the same. payroll Election workers and emergency workers deduction. are exempt from coverage. z2007 .fib 1 1� Schedule G- continued Effective 07101/07 1959 Survivor City/ Designated Officials, This benefit, provided through CalPERS Benefit Employee, Regular Full -Time Retirement, is paid along with other death through and Regular Part- benefits, whether or not the employee was Benefit Time employees eligible to retire at the time of their death. Allotment upon hire. The monthly benefit amount formula depends on the number of eligible survivors. Employee City Designated Officials, Face-to-face assessment, treatment, and Assistance Regular Full -Time follow-up to help resolve a broad range of Program (EAP) and Regular Part- personal, work, and family problems. Time employees Employees and eligible family members can upon hire. receive up to 5 -sessions per incident with professional counselors for early intervention and treatment. Section 125 Employee Designated Officials, At the beginning of the plan year, each Cafeteria Plans/ Regular Full -Time, participating employee selects an amount Reimbursement and Regular Part- up to the maximum set by the City for each Accounts Time employees plan. The amount selected is calculated upon hire. This is an into a bi-weekly, pre -taxed payroll optional benefit. deduction. a) Insurance Plan Premium Conversion - Should the monthly cost of health care insurance premiums exceed the benefit allotment and result in payroll deductions, the amount of the qualifying deduction may be designated to be paid with pre-tax dollars. b) Healthcare Flexible Spending Account - Also known as a Healthcare Reimbursement Account, the employee may designate pre-tax dollars, up to a maximum of $2,500 per calendar year for out of pocket healthcare expenses not covered by their medical, dental, or vision insurance plans. c) Dependent Care Flexible Spending Account- Also known as a Day Care or Childcare Reimbursement Account, the designated pre-tax dollars, up to a maximum of $5,000 per household- per calendar year, must be related to expenses which are for dependent care that enables the employee to remain gainfully employed. COBRA Employee Designated Officials, The Consolidated Omnibus Budget Regular Full -Time, Reconciliation Act of 1985 (COBRA) and Regular Part- provides for the continuation of health care Time employees, coverage to certain employees who enrolled in qualifying terminated employment and beneficiaries of health, dental, vision, employees who die, become disabled or are and EAP plans. divorced. Employees become eligible for continued coverage upon termination of service, whether voluntary or not (other than termination for gross misconduct), retirement or reduction in hours worked. ttu�•�a�a� Schedule G- continued Effective 07/01/07 201)7-4b For these employees and their dependents, continued coverage is available for the time period set forth by law, at their expense. Medicare City/ Designated Officials, Pursuant to Revenue Billing 86-68 of the Employee, Regular Full -Time Internal Revenue Code, all employees hired through and all Part -Time after March 31, 1987 has 1.45 percent of mandatory employees upon hire. their base salary deducted from their payroll paycheck to be paid to Medicare. The City deduction matches the 1.45 percent as mandated by law. Deferred Employee Designated Officials, A Section 457 deferred compensation plan Compensation Regular Full -Time is made available through the International and Regular Part- City Management Association (ICMA) Time employees Retirement Corporation. Employees not upon hire. encumbering their entire health benefit allotment will have those excess funds deferred into this plan. Employees may also elect to have additional contributions at their expense as a pre -taxed payroll deduction. Total deferral contributions are not to exceed limits under Section 457 of the Internal Revenue Code. Automobile City Executive Mgt. A monthly car allowance of $120 for Exempt Allowance (Ranges 2900- 3900) Mgt., $250 for Exec. Mgt., and $300 for City upon hire. Council Members in lieu of mileage reimbursement. Tuition City Regular Full -Time, Full-time and regular part-time (on a pro - Reimbursement and Regular Part- rated basis) employees are eligible to Time employees receive reimbursement in the amount of upon hire. $1500 per fiscal year, for college -level or university -level educational courses. Personal Employee Regular Full -Time, Interest-free loans between $250 and Computer Loan and Regular Part- $2,500 for the purpose of financing a Program Time employees personal computer, a printer, and/or City - upon hire. compatible software are available to eligible employees so they can learn and gain experience by working with a personal computer away from the office and outside of regular business hours. An employee may purchase a more expensive system, but he/she must pay the balance over $2,500. The loan covers 90% of the total price of the equipment/software being purchased. The employee pays the remaining 10% of the purchase price at the time of purchase. Loans are made on a first-come, first-served basis based on available funds. Once the money for the employee loans has been obligated, the fund will be replenished through payroll deductions from outstanding loans. New loans will then be made as funds become available. Loans will be for a maximum term of 24 months and will be repaid through payroll deductions on a biweekly basis. 201)7-4b