USF President Genshaft Receives Bonus
UPDATED 12/9 11:30 a.m.:
Some information in the original post about the pay of other state university presidents was incorrect and has been removed.
Relocating the University of South Florida Morsani College of Medicine to Jeff Vinik's proposed redevelopment zone in downtown Tampa wasn't the only big story to come out of last week's USF Board of Trustees Meeting.
While reporters were busy interviewing Vinik and USF Health representatives about the decision, the Trustees were approving a $168,875 bonus for USF System President Judy Genshaft.
That's in addition to her $470,000 base pay ($200,000 from taxpayers, $270,000 from the USF Foundation), as well as an annual $100,000 retention stipend she'll get if she's still president when her contract ends in 2016.
Genshaft has been USF President for 14 years, the longest tenure in the university's almost 60 year history.
Genshaft received a bonus of $166,250 last year. The upper limit for her bonus is $175,000.
USF student newspaper The Oracle reports Genshaft also receives residence at the Lifsey House on campus, a vehicle that's replaced at least once every three years, and membership to the Tampa Palms Golf and Country Club.
TBO.com said a report to the board showed Genshaft met 22 of the 28 goals set for her for the 2013-14 year, partially met three more and failed to meet three others.
The three goals she did not meet fell under the category of student success. She aimed for a 90 percent retention rate for a 2012 freshman cohort at the Tampa campus and 74 percent at St. Petersburg; the numbers came in at 89 percent and 60 percent. And she was shooting for an average three-section SAT score for fall 2013 first-time-in-college students of 1786; the actual number was 1772.
USF also brought in $428 million in research expenditures, an increase of $15 million this year. That places the school 43rd in the National Science Foundation's rankings of higher education research spending, trailing only the University of Florida among state schools.
USF also raised $114 million in its USF: Unstoppable Campaign, a single-year record.
Originally posted 1:27 p.m. 12/8/14