| Approved by: | Board of Trustees | |
| History: | Issued -- March 14, 2002 | |
| Revised -- | ||
| Last Reviewed -- | ||
| Related Policies: | Relocation Expense Policy | |
| Additional References: | ||
| Responsible Official: |
Vice President for Finance and Treasurer tel. 202-319-5606 |
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I. Introduction
Compensation of the officers of the University must allow the University to attract the best individuals for each position. That compensation shall be reviewed by the Finance Committee of the Board of Trustees, to ensure that compensation packages are appropriate in the market place.
This policy applies to all officers of the University.
II. Hiring of New Officers
All financial terms of offers of employment to officers of the University shall require the approval of the Finance Committee of the Board of Trustees, who shall act as the University's Compensation Committee. In order to provide negotiating flexibility, a salary range, with a "not to exceed" maximum salary, shall be submitted to the Finance Committee for advance approval.
III. Required Annual Review
The Vice President for Finance and Treasurer shall annually provide to the Finance Committee of the Board of Trustees all proposed officer compensation for the new fiscal year and a comparison of salaries for officers at peer institutions. The Finance Committee of the Board of Finance shall determine the appropriateness of officer salaries.