USVI Public Records

Document text

BOARD OF TRUSTEES RESOLUTION FOR THE IMPROVEMENT OF SALARIES AND BENEFITS Whereas, the University is committed to developing and maintaining levels of employee compensation that are sufficiently competitive to enable the institution to carry out its mission, and, Whereas, it is the policy of the University to award salary increases and make salary adjustments for merit increases from any and all available sources of funds, and Whereas, the University is committed to increasing employee salaries by the accumulated number of steps for which merit increases have been recommended, but remain unpaid based on the availability of funds, and, Whereas there has been a substantial increase in the cost of the group health insurance program for FY2002, and it is the desire of the University to demonstrate its commitment to health coverage for employees and their families, and Whereas it is becoming increasingly difficult to recruit and retain part-time faculty at present salaries, and Whereas the overall salary levels of the University are severely depressed, and are continuing to contribute to high turnover especially among the faculty, NOW THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE UNIVERSITY OF THE VIRGIN ISLANDS AS FOLLOWS: is That the sum of $3,273,933 be allocated from the FY2002 appropriation to fund increases in employee compensation as follows: (a) To cover the cost of the increase in premiums in the Group Health Insurance Program for employee medical and dental coverage - $550,000. (b) To increase the salaries of eligible employees by the balance for step increases recommended through FY97 - approximately $1,271,519; (c) To increase the salaries of eligible employees by 54% of step increases recommended, but unpaid, for the period FY98 through FY2000 - approximately $1,200,920; (d) To adjust the salaries of Assistant Professors to bring the minimum salary for this position, after the awarding of merit steps, to no less than $40,000 per annum, approximately $46,764; (e) To award a 15% salary adjustment to the part-time faculty to improve the University’s ability to attract and retain these very valuable members of the teaching staff, approximately $204,730. 2. That the University reaffirms its policy commitment to increasing employee salaries by the amount of merit steps recommended, from any available source of revenues, and that should additional funds become available this fiscal year, allocations would be made first to the full payment of recommended step increases which remain unpaid through FY2000 and then to a supplemental general salary adjustment that would upgrade the University’s overall salary scale. 3. That this Resolution shall take effect October 1, 2001. 4. That the President and Vice-President for Administration and Finance are authorized to take such actions as are necessary and proper to implement this resolution CERTIFICATION The undersigned does hereby certify that the foregoing is a true and exact copy of a resolution of the Board of Trustees of the University of the Virgin Islands adopted at its meeting on Saturday, October 13, 2001, as recorded in the minutes of said meeting. QO nrbbs ee jofr.f2e! Secretary of the Board Date/