Customer Resources // Self Audit Instructions

Instructions for Completing Monthly Self-Audit Payroll Reports

The following steps are detailed instructions that must be completed in order to calculate line 4, “Total Due”:

1. Divide each line in Column 4 (Actual Gross Payroll) by 100 (NOTE: rates are stated in dollars per $100 of payroll), and then multiply the result by the appropriate rate in Column 5.

   • Example: Payroll - $80,000.00
     Rate - $2.10.

     $80,000
     100 X $2.10 = $1,680.00

2. Sum column 6 to arrive at total manual premium (line 1)
3. Multiply manual premium (line 1) by EZ premium factor (line 2) to arrive at “Total Due” (line 1).

For your assistance, enclosed is a sample copy of a completed monthly self-audit payroll report worksheet.

Reporting Overtime

Any overtime pay should be reported at “straight-time.” If overtime is paid at time and one-half, include 2/3 of the overtime pay and exclude 1/3. If overtime is paid at double time, include 1/2 of the overtime pay.

Holiday Pay and Bonuses

All holiday pay and bonuses must be reported at 100%.

EZ Premium Factor

On the 20th of every month CAGC Insurance Company re-rates and updates each policy. This is done to ensure that our members are getting the correct “EZ premium factors” and discounts that are due to them throughout the fund year. You may notice that your EZ premium factor will go up or down. This factor changes based on the premium that has been reported.

If your report comes in after the 20th and your EZ premium factor went up after re-rating your policy. You will be billed for the amount that is due on that report. All reports are due by the 10th, so the best way to avoid having to pay more each month is to get your report in on time.

Tips

1. Round all amounts to the nearest dollar.
2. Report all payroll.
3. In the event you have no payroll to report, you are still required to mail in your monthly self-audit report. Simply note “NO PAYROLL”.
4. Make your check payable to CAGC Insurance Company.
5. Carolinas AGC and CAGC Insurance Company have two different accounting departments. If you receive an invoice from Carolinas AGC, please make your check payable to them.