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time. Employees who reach an accrual balance greater than that allowed will lose <br />excess hours remaining as of December 31 of each year. <br />Vacation Severance Pav - Employees leaving City service voluntarily and in good <br />standing and who provide proper advance notice of two weeks are entitled to <br />receive 100 percent of their remaining accrued vacation leave at their current <br />hourly rate. <br />Sick Leave hours are accrued by all full-time city employees up to 96 hours per <br />year (or 1 day per month). Regular part-time employees shall be eligible for sick <br />leave on a pro-rated basis, based on the number of hours actually worked. Sick <br />leave may be accumulated to a maximum of 960 hours (120 days). <br />Sick Leave Severance Pav — Upon separation from employment, either due to <br />retirement, voluntary or involuntary termination or for whatever reason, full-time <br />and regular part-time employees with five to nine (5-9) years of service with the <br />City of Pequot Lakes shall receive monetary compensation in the amount of ten <br />percent (10%) in cash of unused sick leave up to 960 hours. Employees with ten <br />(10) or more years of service with the City of Pequot Lakes shall receive <br />monetary compensation in the amount of twenty-five percent (25%) in cash of <br />unused sick leave up to 960 hours. <br />50% of the unused vacation and comp time balances plus 25% of accrued sick <br />leave balances will be reported as liabilities due within one year. The city will <br />review the compensated absences on an individual basis to determine if any <br />portion of the liability should be reclassified to the other compensated absences <br />liability account due to unusual circumstances. <br />F. APPLYING RESTRICTED AND UNRESTRICTED NET ASSET <br />RESOURCES <br />The city will first use restricted resources to finance qualifying activities. Any <br />remaining qualifying activities will be financed with unrestricted resources. <br />Go ALLOCATION OF INDIRECT EXPENSES <br />Indirect expenses will be allocated to the funds and departments that share in the <br />expense, if determinable and possible. If the entire city or many city departments <br />are involved, the cost will be recorded in the city hall department budget. <br />H. CLASSIFICATION OF OPERATING AND NON-OPERATING REVENUES <br />IN ENTERPRISE FUNDS <br />Operatin� revenues in an enterprise fund are those that support the day-to-day <br />operations of the activities in that fund. These revenues cover costs such as <br />salaries, supplies, repairs and maintenance, depreciation, and small tools and <br />equipment. <br />-5- <br />