(a) It is the intent of this section to combine elements of the pay rates for Village employees included in base pay and longevity pay into a single, composite, hourly rate for purposes of calculating biweekly compensation.
(b) The first element of the composite pay rate shall be the basic pay schedule rate specified pursuant to Section 252.02, calculated to the nearest penny per hour.
(c) The second element of the composite pay rate shall be the longevity pay amount specified in the Personnel Policy Manual, converted to an hourly rate and calculated to the nearest penny per hour.
(d) As pay rates are changed, for whatever reason, each employee shall have a new composite rate calculated by combining all elements specified in divisions (b) and (c) of this section, for which such employee is eligible.
(e) The resultant composite rate shall be the basis on which all regular and premium pay is calculated on and after the effective date of this section.
(Ord. 2001-1. Passed 1-2-01.)