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3 > Image 3 of Minutes of the University of Kentucky Board of Trustees, 2010-09-14

Part of Minutes of the University of Kentucky Board of Trustees

-3- Slide 4 compares total presidential compensation for 2008-09 at KCTCS, University of Louisville, and University of Kentucky. This slide showed UK figures again to rank under those ofthe other institutions. Slide 5 showed presidential compensation at UK relative to compensation received by the presidents of the Top 20 public research universities as defined in President Todds Top 20 Business Plan. The range is large, but the University of Kentucky as a percentage of the Top 20 average is 64.5 percent. Comparisons continued in Slide 6, where UKs total presidential compensation was shown to be 78.8 percent ofthe average Southeastem Conference (SEC) presidents compensation. Dr. Brockman made the point that under all comparisons, UKs presidents compensation package ranks among the lower amounts. In Slide 7, it showed that the bonus offered to UKs president is disproportionally skewed. Average bonuses of benchmarks run in the $10,000 - $50,000 range while ours is $200,000. Dr. Brockman will rely on other board members to explain why. Dr. Brockman explained Slides 8 and 9: "The average faculty salary at the Top 20 institutions per our business plan is $98,451. The average faculty salary at schools in the Southeastem Conference excluding Vanderbilt [because it is a private institution] is $78,502. The average faculty salary at the University of Kentucky is $81,189. Thus, UK faculty compensation as a percentage ofthe Top 20 benchmark institution faculty compensation average is 82.5 percent. UK faculty salaries average 103.4 percent of SEC faculty compensation. The UK presidents salary base plus retirement is $399,612. Our president receives 64.5 percent of what the benchmark Top 20 business plan presidents are making, while our faculty receive 82.5 percent of Top 20 levels. By the same token, the UK presidents $399,612 compensation package is 78 percent of SEC presidents compensation on average, while our facultys average salary of $81,189 runs 103 percent ofthe average salary for SEC faculty. "The recommendation ofthe Executive Committee on Thursday last week [September 9] was that UKs presidents base salary should be at least the same percentage of the Top 20 presidents base average as the average salary of a UK faculty member as it compares to the average faculty salary at a Top 20 institution. The UK faculty receive salaries that average 82.5 percent ofthe average salary received by faculty in Top 20 institutions. If we pay our president at the same 82.5 percent of the average received by a Top 20 president (instead of the approximately 64 percent that he receives now), then he should receive $511,056 ($619,461 [shown on Slide 5] times 82.5 percent equals $511,056). Dr. Brockman stated that this amount is what the Executive Committee recommended. In addition, the Executive Committee discussed and recommended that the presidents annual bonus should be reduced to a maximum of $50,000 based on their established goals to measure his perfonnance. Mr. Miles then asked Ms. May to explain the evaluation system and the results of this years evaluations ofthe presidents perfonnance. Ms. May distributed tabulation sheets and explained that the bonus awarded would be based on the results of the evaluations, a procedural action that has been in place since 2005. Goals for the president change each year according to the needs of the university. All board