OU Board Of Trustees Approve Bonuses For Faculty And Staff< < Back to
Ohio University President Dr. Roderick J. McDavis announced Thursday that he wants to set aside one percent of the university's budget for bonuses to faculty and staff. The board approved the President's motion unanimously.
The percentage point is equal to $2.8 million, according to Ohio University CFO and Treasurer Steve Golding. All university employees are eligible to receive merit bonuses from the $2.8 million pool of money.
McDavis made the announcement to the faculty and staff at their annual convocation Wednesday.
The bonuses are given because the university met its enrollment goals for the fall of 2013. Sitting board chairwoman Sandra J. Anderson said the raises were always possible if the enrollment goals were met. Thursday was the first time the whole board had heard of the bonuses.
"We have the biggest, smartest and most diverse freshman class we've ever had," Anderson said.
The incoming freshman class is listed at 4,209 students, according to McDavis. The average ACT score is 24.0, which ties for the highest number of any year since 2007, according to University Provost Pam Benoit's dashboard report.
The distribution of the bonuses will be determined at a later date, according to McDavis and Anderson. McDavis said the bonuses for the faculty will be for the current fiscal year.