A University of Tennessee board committee meeting Wednesday in Knoxville approved a compensation package for the next UT system president.
The proposal, to be voted on by the full board today, provides a base salary for the new president between $420,000 and $450,000. A housing allowance of $20,000 and a non-accountable expense allowance of $12,000 to $16,000 also are included.
In addition, UT board Vice Chairman Jim Murphy is granted the authority to negotiate performance and retention pay and a relocation allowance.
The pay scale for a new system president is in line what has been offered to past candidates. Former UT President John Petersen, who resigned last June, was paid a base salary of $420,971.
The UT system president oversees three universities and, and the compensation, compared with other statewide university systems, it is fairly high.
The chancellor of the State University System of Florida, who oversees 11 universities, is paid $458,198. The chancellor of the University of Georgia System, who oversees 35 colleges and universities, is paid $380,719.
The University System of Maryland, which includes 11 colleges and universities, pays $490,000 in base salary to its chancellor.
A committee of trustees overseeing the UT search will meet today. Gina Stafford, a spokeswoman for the UT system, said the system will launch a Web page Friday that will be linked through www.tennessee.edu and will track the presidential search and allow people to submit questions and comment on future candidates.
The search for a system president is ongoing, and officials said a new president will be announced in late October.
UT reaches fundraising goal
Five years after announcing the Campaign for Tennessee fundraising program, the UT system has reached its goal of raising $1 billion through private fundraising.
The campaign, which has been called the most ambitious fundraising effort in the system's history, reached its goal 18 months before the campaign's official ending in December 2011.
Having reached the campaign goals, UT is among only 28 public universities that have raised more than $1 billion in private donations, according to the Council for the Advancement and Support of Education.
A total of 98,000 people contributed to the Campaign for Tenessee, and UT board member Charles Anderson and his wife, Moll, gave the multimillion-dollar gift that pushed the campaign past its goal, officials said. Mr. Anderson would not say the exact amount.
Campaign dollars are allocated for scholarships, professorships and programs and are not used for university operating costs.
In announcing the campaign success, the board also announced the resignation of Henry Nemcik, the system's top development officer, who will be leaving UT to go to the University of New Mexico.
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