November 2, 2010
Institutional Priorities Committee
Minutes of November 2, 2010
2:00pm - 4:00pm
DUC 211 A & B
Present: President Eibeck, Francois Rose, Mary Lou Lackey, Chris Johnston, Peg Ciccolella, Matthew Downs, Patrick Cavanaugh, Nejat Duzgunes, Marcus Perrot, Patrick Ferrillo, Jin Gong, Kelli Page, Alex Schulte, Robert Brodnick
Absent: Elizabeth Griego, Cathy Peterson, Tom Krise, Ted Leland, Dan Shipp
Guests: Christopher Goff
Call to Order: 2:04pm
Minutes: Minutes for October 19, 2010 were approved
FY12-13 Budget Expenditure Assumptions: The committee reviewed the Expenditure Assumptions presentation that included a review of salary adjustments, staff benefits and residential life and housing.
Merit and Equity Salary Adjustments, Unit Operating Budgets, Other: Cavanaugh clarified the differences between merit and equity, merit meaning a percentage increase earned by great performance and equity meaning the differences of annual salaries of people with similar positions to those in the applicable external market.
The committee reviewed the Salary Adjustments document, which showed the average Faculty Salary for Full Professors compared to the 80th percentile of AAUP, the Associate Professors under the 80th percentile of AAUP, and the Assistant Professors above the 80th percentile of AAUP.
Motion: To recommend a completion of the equity salary plans that began last year with a 2% increase per year of merit, then provide additional equity adjustments where called for in future years to meet market targets.
Motion passes: IPC supports the 2% increase in merit and to continue with the equity plans.
The committee then reviewed the non-salary component of compensation, which is the Employee Benefits cost. It is predicted that there will be a 14% increase in Health, Dental, Vision, Life and Disability benefits this fiscal year.
The committee discussed the Operating Reserve Requirement, which is a contingency, in a sense a surplus that is budgeted at the beginning of the year to address special emergency situations. It is currently at 1%, which is $1,450,000 and the committee discussed the possibility of making it 1.5%, which would increase the dollar amount by about $700,000. Rose suggested that a side-by-side comparison of 1% and 1.5% Operating Reserve Budget would be helpful, showing how much and where money is available to be allocated for each percentage.