Is uncompensated overtime legal?
The DCAA 6-410 (2016) provides that the Fair Labor Standards Act (FLSA) requires overtime compensation for hourly workers who work in excess of 40 hours per week. However, salaried employees are not required to be compensated for overtime. Hours that a salaried employee works over 40 hours is called uncompensated time.
What is an uncompensated overtime policy?
Uncompensated overtime means the hours worked without additional compensation in excess of an average of 40 hours per week by direct charge employees who are exempt from the Fair Labor Standards Act.
What is the CAS threshold?
Effective July 1, 2018, contracting officers shall use $2 million as the threshold for obtaining certified cost or pricing data, in lieu of the threshold of $750,000 at Federal Acquisition Regulations (FAR) 15.403-4.
How does total time accounting work?
Total time accounting (TTA) is the adjustment of an exempt employee’s effective wage rate or hours based on the total time worked in a given period. The TTA calculation is used to manage uncompensated overtime for exempt employees only.
What is CAS applicability?
CAS APPLICABILITY. • CAS applicability is a two-step process. • The first step is whether CAS applies to the contract/subcontract. being awarded. • If CAS does not apply there is no CAS coverage.
What triggers CAS coverage?
Full CAS-coverage applies to contractor business units that receive either a single CAS-covered award of at least $50 million or at least $50 million in net CAS-covered awards during the preceding cost accounting period where one of those awards must be a “trigger” award of at least $7.5 million.
What is DCAA compliance requirements?
DCAA compliance requires that your accounting and related business processes which collectively include policies, manual procedures and tools be compliant. Software alone is not audited for DCAA compliance or certified, nor approved as DCAA compliant.
Are FFP contracts CAS-covered?
The Office of Federal Procurement Policy (OFPP), Cost Accounting Standards (CAS) Board, is publishing, without change from the proposed rule, a final rule revising the exemption from CAS for firm-fixed-price (FFP) contracts and subcontracts awarded on the basis of adequate price competition without submission of cost …
Which 4 standards are applicable to contracts under modified CAS coverage?
Modified coverage. If a nonexempt contract is for less than $50 million but more than $7.5 million and the business unit received less than $50 million in net awards the previous cost accounting period, four of the standards apply: CAS 401, CAS 402, CAS 405 and CAS 406.
