President Genshaft to receive contract renewal
USF President Judy Genshaft is up for reappointment. The university Board of Trustees (BOT) will propose a new one-year contract at Thursday’s Board meeting.
The contract would extend Genshaft’s tenure to 17 years and include a five percent increase in base compensation.
While the terms of the new document stipulate that Genshaft will serve an additional one year, rather than the three previous five-year contracts, the contract stipulates “this Agreement may be extended for additional one year terms.”
As the USF System President, Genshaft has 24 contractual responsibilities, including fundraising, governing admissions, administering the university’s intercollegiate athletics and establishing agreements for student exchange programs.
If she accepts the proposal, Genshaft’s base salary will be $493,500, along with additional compensations and stipends. Her current contract did not include a salary increase. The contract explicitly stated that Genshaft’s salary may be augmented, but not decreased.
Genshaft has increased university system enrollment by 37 percent during her tenure. The endowment has seen an increase of 167 percent to $420 million in the same amount of time.
Additionally, she has been honored by 11 national and local organizations, and has received three international recognitions, including the first honorary degree given to a woman by Yeungnam University in South Korea.
The proposal cited these enhancements to the university as cause for the contract renewal.
Benefits in Genshaft’s current and proposed contracts are automobile insurance, a $988 monthly stipend to cover the expenses of owning a car, and annual dues and membership fees for the Tampa Palms Country Club and the University Club.
According to an evaluation of her current contract, Genshaft received a $175,000 stipend in the December of 2015.
Genshaft chose not to live in the Lifsey house, the
university-owned home on USF Tampa’s campus, so she does not receive a housing allowance. Also according to the evaluation, these benefits are “relatively standard” for a university president.
The evaluation document noted “Genshaft’s base salary and her guaranteed compensation is below the market range.”
In light of this, the document raises the question “whether this competitive posture is appropriate in light of Dr. Genshaft’s tenure and performance?”
The longest-sitting president in USF’s history, Genshaft’s total compensation is in the 90th percentile of comparably sized universities across the country, according to data from the Chronicle of Higher Education compiled by UCF in October of 2015.
The new contract stipulates that upon leaving the position of president, Genshaft will have “a 12-month professional development leave with the title of President Emeritus.”
After that time, she will be able to accept a nine-month faculty or administrative position as a tenured full profession in the College of Education.
The BOT will meet Thursday at 8 a.m. in the Marshall Student Center Ballroom to discuss her contract among other agenda items.