I have been asked about employee bonuses since our financials reflect a solid year, if they simply look at the actual compared to budget.

 

I have not reviewed the bonus plan for a couple of years since we have been operating in the red. I talked through the process with our new controller and am recommending a change in the policy. In the past, we have scrambled in the final days of the year to anticipate what the year-end bottom line would be because I had been informed that the checks needed to be cut in December to apply to that fiscal year.

 

Being in a transition to Veracity Pros and QuickBooks Online (vs Desktop), the timing is even more challenging this year. I also learned that we can accrue bonuses and finalize the amount before the books close in mid-late January. I am not certain that we will want to provide bonuses but want to inform staff of this change and be prepared.

 

I am recommending two changes, reflected in the attached document:

• Be clear that MHCA will consider bonuses (the previous language was written when we were doing well financially, and I believe it should be edited)
• Change the timing of the bonuses so it will be based on actual numbers vs anticipated numbers.

 

I welcome suggested edits to make this clearer. Please respond back with your vote on the change.

 

Thank you!

 

Kind Regards,

 

Kathy Messerli

Executive Director

Minnesota Home Care Association

 

1265 Grey Fox Road, Suite 2 | Arden Hills, MN 55112-6929

Direct: 651.635.0038 | Main: 651.635.0607

www.mnhomecare.org | kmesserli@mnhomecare.org