Is Payroll Solvent? - USM Forum -- Message Board

Date: Mar 30, 2005

Is Payroll Solvent?

Date: Mar 30, 2005

I'll lay even odds on those two possibilities.

Date: Mar 30, 2005

Maybe USM should have a bank overdraft account

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Date: Mar 30, 2005

Wasn't it just last month that some of the checks were "lost" on campus? It seemed like the usual incompetence, but it could have been more troublesome.

Date: Mar 30, 2005

quote:
Originally posted by: CPA Wannabe
"Since arriving at USM, I have had my paycheck direct deposited into my bank account. The deposit usually takes place on the 3rd or 4th to the last day of the month (e.g., this month it should have happened Monday or Tuesday of this week) and usually shows up by the equivalent of this morning. There is no sign of the direct deposit yet. Is Shelby being an a$$hole and withholding payment until the last possible moment, or has USM's financial situation finally reached the stage where we should worry about our checks bouncing?"

I have been at USM for 14 years and I have had my check direct deposited into my account also. However, my deposit occurs the night before the last day of the month unless that night falls on a weekend or holiday.

In your haste to condemn the administration, try not to make something out of nothing.

Date: Mar 30, 2005

Given the background of the president, perhaps the payroll was dropped in solvent. Or perhaps it was spent on solvent.

(What a chemist is expected to do when he meets SFT: solute!"

Date: Mar 30, 2005

Generally, automatic deposits are made the night before the last business day of the month. If the last business day of the month falls on a Tuesday, and Monday is a bank holiday, then the transfer would be made on Friday night. This makes it appear as if you are being paid four days before the end of the month. However, just because this deposit is made, but the funds may not be "available" for you to withdraw until the last day of the month. It is always important to check with your bank on fund availability before writing checks. It is your responsibility to ensure the funds are there, not your employer's, so if you overdraw your account, you must pay the fees -- which are outrageous these days!

Date: Mar 30, 2005

First off, I am not in any sort of financial distress because of this fact.

Whatever you may say, my DD appears several days in advance of the last business day of the month. This month, that did not happen. Last month, checks were lost.

The administration is so poor that I would not be surprised if something weren't fishy here.

Date: Mar 30, 2005

The past several months, your normal payday has hit a Monday (so your check went in on Friday) or the holidays. Look back to September or October to see when it hit. Not to disagree with your sense of something wrong, but don't borrow trouble as they say out in the country. There's enough major stuff going on as it is.

alenkitt · Status: Offline

But i want to know would would be effects of these irregularities. I hope result would be definitely in a positive way...I would definitely here sgain to discuss more on this topic..

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