State Controller Policy
Effective Date: 07/01/2024
Approved by: Robert Jaros, CPA, MBA, JD, Colorado State Controller
Applicability
All employees paid by the Colorado Personnel and Payroll System (CPPS).
Policy
- Pay for employees paid by CPPS shall have two decimal places effective July 1, 2024. There is no longer different rounding for biweekly employees, “hourly” employees, and salaried employees.
- Agencies shall verify that all their employees’ pay is rounded to two decimal places.
Rounding Convention
- Employees’ pay should be rounded to the nearest penny for both salaried and hourly rates.
- Look to the number in the third decimal place. If it is less than 5, round down. If it’s 5 or greater, round up.
Split Allocations
- The total of split allocations may be more or less than an employee’s pay rate. This is due to the limitation in CPPS.
- The differences in the total of split allocations are generally $0.01 or $0.02 per pay period.
- This will be resolved with the implementation of a new payroll system.
- Due to the minimal impact on employees’ pay and the workload in correcting employees’ pay, agencies should not manually adjust the total pay to equal the employee’s pay rate.
No exceptions to this policy
- The Office of Information Technology has programmed CPPS to pay employees using two decimal places. Employees cannot request exceptions to this policy.