Given current budgetary constraints, we should now consider ways to fund the salaries of our executives and attract & retain qualified personnel without raising student tuition.
802.6 Salaries; Presidents
1. Except as allowed in Section 2 no
Nopresident or chancellor of a unitcampus of the Montana University System shall accept compensation receivable by virtue of his service as president or chancellor from any source other than the unitcampus which he serves, unless the Board gives specific prior approval for the compensation. “Compensation receivable by virtue of his service as president or chancellor” includes, but is not limited to, all personal benefits or compensation received from any entity organized, in whole or in part, to further one or more interests of the unitcampus of the university system. Such entities include, but are not limited to, endowment foundations, research institutes, alumni associations, and booster clubs.
2. a. The Board may approve a foundation provided deferred benefits program for a president or chancellor on a case by case basis. Specific and prior Board approval is required for any deferred benefits agreement and for any amendment thereto.
b. The president or chancellor, at the first knowledge of any proposed benefits program shall refer the foundation representatives to the Board Chair and the Commissioner who shall direct the conduct of any and all negotiations with the foundation.
c. An agreement between the foundation, the president or chancellor, and the Board must describe the nature and scope of the deferred benefits program. The agreement must contain a provision in which the foundation and the president or chancellor each agree to indemnify the institution and the Board from and against all claims arising from any deferred benefits agreement.
d. The funding of such deferred benefits program must be provided by the institution’s related foundation. All payment made from the foundation shall be paid through the institutions to the pre-approved deferred benefits program. The presidents or chancellors shall not receive any payments or benefits directly from the foundation unless pre-approved by the Board.
Submitted by Student Regent Hur
January 16-17, 2003