The USF Board of Trustees (BOT) approved System President Judy Genshaft for a new one-year contract that increases her total compensation package to as much as $924,547, including base salary, a performance-based stipend and benefits.
At Thursday’s meeting of the BOT, trustee Jordan Zimmerman presented a contract renewal that increased her base salary to $505,873 and a performance-based stipend of up to $300,000.
“I’m not sure there are enough words to articulate the leadership and the success we’ve had under (Genshaft’s) leadership,” BOT Chair Brian Lamb said. “I will tell you bluntly, it’s really impressive. I think the conversation we’re having right now I hope is a testament to our commitment to (Genshaft), to the stability of this institution, having the right leadership in places of responsibility. I’ve said a number of times that we’ve really got one employee at the board level and that’s our president. That’s really where we’ve got to spend our time, energy and focus.”
The board unanimously passed the new contract, which includes a 2.5 percent salary increase from last school year, when she made a base salary of $493,500 with a performance stipend of up to $275,00. According to university spokesman Adam Freeman, the 2.5 percent is proportionate to the average increase faculty and staff have seen over the past year.
Zimmerman said the committee reviewed the contracts of other university presidents in Florida. While the comparison can be hard to make, University of Central Florida president John Hitt has a contract for the 2016-17 school year with a base salary of $505,739. Hitt also has a performance stipend of up to $360,000.
John Thrasher, president at Florida State – a pre-eminent university, which is a distinction USF Provost Ralph Wilcox hopes to reach by 2018 – has a base salary of $521,210 with a performance-based stipend of up to $100,000. Thrasher is on a five-year contract until 2019.
Genshaft is in her 17th year as USF president.
“I just thank everybody for all the work that we do together to move the institution, the University of South Florida system, to a next level,” Genshaft said. “To the team that’s not only in this room, but throughout the system, thank you. Thank you very, very much.”