State of Montana, Department of Public Service Regulation: 1980

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Special Revenue Funds include the Federal and Private Revenue Fund.
16 Inventories There is no recorded asset for supplies inventory. Supplies are expensed at the time of purchase.
Vacation and Sick Leave Liabilities incurred because of employees' unused vacation and sick pay are not recorded. The related expenditures are recorded when paid. Permanent employees are allowed to accumulate and carryover into 90 days of a new calendar year a maximum of two times their annual accumulation of vacatio
...n. Upon termination, qualifying employees having unused accumulated vacation and sick leave receive 100 percent payment for vacation and 25 percent payment for sick leave. The liability amount associated with unused accumulated vacation and sick leave at June 30, 1979 and 1980 is maintained on an hourly basis rather than by dollar amount.
The monetary liability is not calculated until an employee terminates.
2. RETIREMENT PLAN The agency employees are covered by the Public Employees' Retirement System, a statewide contributory plan under which the state contributes 6.2 percent of an employee's gross wages and the employee contributes 6 percent of his gross wages.


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