With the approval of the supervisor and employee, compensatory time may be given in lieu of overtime pay. Compensatory time given for hours worked over forty (40) during a workweek will be granted at the rate of one and one-half (1½) times the number of hours. Compensatory time used to make up for lost time, most commonly due to emergency situations, will be granted on an hour for an hour basis. The tracking of compensatory time shall be the responsibility of the supervisor, and periodically audited at the discretion of the Business Manager. Compensatory time must be used within sixty (60) calendar days of being earned with no carry over beyond the current school year. A maximum of twenty (20) hours may be accumulated.