Just weeks after UCF convinced the Florida Board of Governors to raise differential tuition during a time when Florida’s unemployment is nearly the worst in the country, UCF President John Hitt is set to get a one time bonus of $143,000 — nearly three times the $47,802 it takes an average Florida household to rake in over an entire year.
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According to the Orlando Sentinel, that $143,000 figure is on top of Hitt’s 2009-2010 pay package totaling about $556,000. That includes $463,500 in base pay and about $92,000 in deferred compensation.
Hitt won’t be the only one to get a bonus. Nearly a dozen top UCF administrators are set to get bonuses, after the UCF Board of Trustees voted over a teleconference today to approve the payouts, the paper reported.
The bonuses are based on the administrators achieving certain goals. Administrators, who have been battling massive state budget cuts over the past few years, had declined these bonuses in recent years, citing the tough economy, but Trustees decided to pay the bonuses now, instead of having to pay interest on them if they waited longer, according to the Sentinel.
Florida law limits the state’s contribution to university president salaries to $225,000 a year, but universities are able to get around that limit by using private foundations to generate funds to pay the rest.
