December 7, 1998

SUBJECT: Salary and Stipends Relating to new Executive Vice Presidents

That the Board of Trustees approve an adjustment in salary and an interim stipend for the new Executive Vice Presidents that equalizes their salaries with the current Executive Vice President.

This item is in response to Board Policy C-5, Staffing.

RATIONALE

The proposed action complies with Board policy requiring Board action in cases where "changes in the staffing table .... increase administrative salaries or stipends." The suggested action that would have the new Executive Vice Presidents paid at the same salary as the current Executive Vice President reflects past practice of the College under my administration. I support such equity of compensation. The stipend would represent a payment that is the difference between the incumbent's current salary and the salary for the Executive Vice Presidents. The stipend would only last as long as the incumbent fills the position on an interim basis.

The action will have limited financial impact representing only the differential between current salaries and the current Executive Vice President's salary for the two individuals involved.

Richard Fonte, President

None.