Benefits and Leave of the Presidents
3.08
(1) Introduction
Institutional Presidents are eligible to receive the same standard employee benefits provided to other employees of their respective institutions. Only the Board may authorize additional benefits as part of each institutional President’s complete compensation.
For purposes of this policy, “family member” shall have the same definition as set for in Board Policy 3.07 (Special Nepotism Policy).
(2) Employment Agreements of Institutional Presidents
The terms of each institutional President’s compensation and benefits package shall be set forth in an employment contract between the President and the Board. In the event of conflict between the employment contract and the provisions of this policy, the employment contract governs.
(3) Board Approval Required
Unless an institutional President receives prior written approval from the Board, an institutional President shall not grant themselves or their family members any benefits not available to other institutional employees and shall not grant any exception to the fiscal, spending, or travel policies established by their respective institution, by the Board, or by state or federal law. Any modifications to the terms of an institutional President’s Employment Agreement shall be approved by the Board prior to implementation.
(4) Employment Benefits of Institutional Presidents
All employment benefits provided to institutional presidents will be provided in accordance with applicable institutional and Board policies and in accordance with all applicable state and federal laws, including tax laws. The institutional Presidents should consult their personal tax advisor if they have questions about the tax treatment of their employment benefits. The following guidelines shall govern the additional benefits that may be included in the institutional Presidents’ complete compensation:
(A) Automobile Use or Stipend. A President may be provided with a vehicle stipend for the use of their personal vehicle for business purposes; in which case such President shall not be entitled to further reimbursement for mileage or gasoline expenses. Alternatively, a President may be provided with an institution-owned vehicle for their use; in which case such President may be reimbursed for their business-related gasoline expenses.
(B) Official Residence or Housing Stipend. As a condition of employment and for the institution’s convenience, institution-owned and maintained housing located on the institution’s business premises may be provided to a President, which shall be used for business functions that are appropriate to be held in a residential setting. Alternatively, a President may be provided with a housing stipend.
(C) Travel and Other Expenses. Presidents shall be reimbursed for reasonable and necessary travel and other expenses incurred in connection with the performance of their official duties. All such reimbursements shall be made pursuant to the institution’s travel or other applicable policy and upon presentation to their institution of documentation, vouchers or other statements itemizing such expenses in reasonable detail.
(D) Event Tickets. Presidents may be provided with tickets to institution-sponsored or hosted events, including athletics events. Any tickets beyond those provided to an institutional President and their spouse that are intended for use by family members or others, whose attendance at such event does not serve a bona fide business purpose, shall be purchased.
(E) Expenses of a President’s Spouse.
i. The Board recognizes that an institutional President’s spouse may be expected from time to time to participate in the activities and operations of the institution. Presidential spouses often contribute to the institutions and their surrounding communities through involvement in institutional events, fundraising, alumni outreach, and other activities, which provides an important and valuable benefit to the institutions.
ii. Expenses for the President’s spouse’s travel, lodging and meals may be paid for by the respective institution when the President’s spouse participates in meetings, conferences and other events specifically related to the presidential role, and when participation in official functions, including but not limited to alumni development, fundraising, and institutional advancement, serves a bona fide business purpose. Such institution-related expenses incurred by the President’s spouse may be reimbursed in accordance with institutional policies and procedures
iii. When the President’s spouse accompanies the President to events and such spouse’s participation does not have a bona fide business purpose, or they have no specific and significant involvement in the business activity, any amount paid by the institution attributable to such spouse’s travel or other expenses is taxable and shall be included in the President’s gross income.
(F) Other Benefits. Other benefits and compensation, including but not limited to, sabbatical privileges, leaves of absence, individual professional association memberships, club memberships and dues, may be negotiated on an individual basis at the discretion of the Board.
(5) Leave Benefits
Unless otherwise provided for in an institutional President’s employment agreement, institutional Presidents shall be entitled to leave benefits as provided in the applicable institution’s leave policies. Institutional Presidents shall comply with their institution’s processes and procedures for reporting use of leave time. Institutional Presidents shall advise the Board CEO regarding plans for an extended period of leave. In the event that a President may not be reachable for a prolonged period of time, the President shall advise the CEO whom to contact for institutional decisions during the President’s absence.
(6) Outside Professional Activities of Institutional Presidents
(A) Institutional Presidents may participate in outside professional activities, so long as such activities do not in any manner interfere with the President’s full and complete performance of their duties as President of their respective institution.
(B) The institutional Presidents shall not accept or receive, directly or indirectly, any income, benefits, gratuity, or other remuneration in violation of any institutional policies, state or federal laws, or if it could discredit or embarrass such President, their institution, or the Board.
(C) The institutional Presidents shall annually disclose their participation in outside professional activities to the Board and shall discuss with and obtain prior written approval from the Board Chair, or their designee, before entering into any agreement or arrangement under which such President will receive, directly or indirectly, any income, benefits, or other remuneration from sources other than their respective institution.
(7) Reporting Requirements and Audit Review
The Office of Internal Audit may conduct periodic reviews and/or audits of benefits and reimbursements received by institutional Presidents and their family members.
Approved Date:
May 13, 1983
Amended Date:
June 20, 1997
January 20, 2012
March 1, 2013
June 22, 2018
October 24, 2025