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Time Periods

The following time periods are relevant to the administration of payroll and employee benefits as well as general school operations.  It is important to note that some employee benefits may have plan years that differ from the years defined below.  For this reason, it is important to read through benefits information to make sure you understand the applicable time periods that apply to each of your benefits.

Academic Year

The academic year begins on July 1 and ends on June 30. Cary Academy’s fiscal year corresponds to the academic year. The office of the Head of School publishes the academic calendar each year. The Calendar details all school days, faculty and employee development days, school holidays, school vacation breaks, and other important dates during the academic year. 

Calendar Year

The calendar year starts on January 1 and ends on December 31.

Anniversary Year

The consecutive 365-day period that begins with an employee’s first day of employment, and the anniversary of that first date thereafter.  An employee who changes from part-time to full-time status will have a change in anniversary year based on that employee’s first day of full-time employment. 

Week

A week (also referred to as a work week) is defined as a consecutive seven-day period beginning on Saturday and ending on Friday.  This is used in the calculation of payroll overtime hours worked.

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