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year, their floating holiday will not accrue, but will be used by the City to pay for <br /> Association President's Leave in the same calendar year six (6) months after being hired. <br /> Employees hired on or after July 1 will not earn a floating holiday in the same calendar <br /> year. These employees will earn their floating holiday six (6) months after being hired. At <br /> that time,the floating holiday they would have otherwise accrued will not accrue,but rather <br /> be used by the City to pay for Association President's Leave. <br /> For the annual calculation described in Section 14.4, for employees hired between January <br /> 1 and June 30,the City will include the eight(8)hours of their holiday leave.For employees <br /> hired between July 1 and December 31, since they will not be earning a floating holiday in <br /> the year they are hired, the City will not use any hours in the same calendar year hired in <br /> calculating the annual value of the floating holiday leave from employees. <br /> 14.4 Accounting for Association Representative Leave. <br /> A. At the end of each calendar year by January 31 of the following year, the City will <br /> provide the Association with an accounting of the value of the Association <br /> President's Leave used in the prior calendar year. The purpose of this accounting <br /> will be to compare the value of the floating holiday leave (and effective January 1, <br /> 2025 the value of the floating holiday and four (4) additional hours - for a total of <br /> twelve(12)hours)that was not earned by the employees in the calendar year to the <br /> value of the Association President's Leave used by the Association. <br /> B. In conducting this accounting, the value of the floating holiday leave will be <br /> determined by the hourly total cost of each employee (base pay, any additional <br /> special pay additives and all employer benefits costs (including,but not limited to, <br /> health allowances and employer total cost of retirement — employer normal cost <br /> plus Employer Paid Member Contribution)who, in the calendar year, donated their <br /> eight (8) hour floating holiday (and effective January 1, 2025 the value of the <br /> floating holiday and four (4) additional hours - for a total of twelve (12)hours). <br /> C. In determining the value of the Association President's Leave, the City will take <br /> the total cost of the Association President (base pay, any additional special pay <br /> additives and all employer benefit costs, including, but not limited to, health <br /> allowances and employer cost of retirement—employer normal cost plus Employer <br /> Paid Member Contribution) and divide it by two thousand eighty (2,080) hours. <br /> That will determine the hourly value of total cost of the Association President's <br /> Leave. The City will then review the number of hours of Association President's <br /> Leave used and determine the cost of the leave hours used by multiplying the <br /> number of leave hours by the hourly value of total cost the Association President. <br /> In evaluating the total cost of the Association President, it shall include the cost of <br /> all wages and benefits including, but not limited to, health and retirement benefits. <br /> D. If the value of the floating holiday leave (and effective January 1, 2025 the value <br /> of the floating holiday and four (4) additional hours - for a total of twelve (12) <br /> hours)) that was donated exceeds the value of the Association President's Leave, <br /> the City will issue a check to the Association for the difference in value, which will <br /> be used for the Association's general fund. The Association may instead elect to <br /> 56 <br />