HIF440 Financial and Resource Management Assignment 4.4 Chapter 4 Budgeting FTE and Salary Assignment Using the "Guide to Budgeting FTE and Salary Adjustment", solve these problems using Microsoft Excel. The salary calculations obtained in #1 will be carried forward to your budget. 1. Each position will get a merit increase in January, except for the Analyst 2 position, who will not receive a raise until August. Figure the new base salaries for each position. Merit increases are based on evaluations which include a point system to determine the amount of the merit increase. Position Salary per year % Raise New Salary Department Director $65,000 3% 66,950 Coding Supervisor $50,000 2% 51,000 ER Coder $40,000 2% 40,800 Analyst 1 $28,500 2.5% 29,121.50 Analyst 2 $22,375 4% 22,673.29 The total of this section must be carried forward to your budget. 

Note: when an increase happens at a time not at the beginning of a fiscal year, it is not divided by 12 and spread across all 12 months. It is entered into the month in which it happens and then carried forward to the end of the year

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To solve this problem using Microsoft Excel you can follow these steps Open a new Excel spreadsheet ... View the full answer