Incoming President John Simpson will be paid an unknown amount in benefits from the UB Foundation in addition to his reported salary. His base salary has been openly reported, but repeated requests to the UB Foundation for full information regarding the nature and extent of the bonuses have been denied. After a search cloaked in secrecy, there is no reason to withhold any more information from the students.
The base salary from the state is $225,000. Published reports, however, have said the total package including benefits from the UB Foundation comes close to$400,000 in total compensation.
The Spectrum could not verify number, as it consists of private benefits from the UB Foundation. Repeated requests to the UB Foundation and to Simpson himself were denied or ignored.
The total amount would put Simpson at the top of presidential salaries among Mid-American Conference schools. In times of tight budget constraints and rising tuition, students deserve to know how dollars are being spent.
Technically, the UB Foundation is completely independent of the State of New York and the State University of New York system, so it cannot be compelled to release information about Simpson's benefits. However, students, faculty and staff should be aware of where money is being spent and why. The Foundation should continue to have a complete independent say in their businesses, but information should be available.
Offering a base salary with bonuses and benefits may be an effective way to encourage production and the purpose of the UB Foundation is to provide various financial services for the university. They are encouraging growth by offering these benefits, and it is a positive investment in the community to have a hard working president. However, the way they have gone about revealing their plans leaves much to be desired.
The roadblocks being put up by the UB Foundation do not accomplish anything. They need to be forthcoming with the university body in order to foster a positive relationship that will benefit the university as much as a well-paid new president will. The benefits and bonuses should be public knowledge, not kept removed from the university community.
It is time for the UB Foundation to reveal the nature and depth of the full contract and salary awarded to Simpson. Full disclosure is necessary to validate their claims of having the "utmost regard for fiscal prudence and fiduciary responsibility," as stated on its Web site. Hopefully the money is being well spent, but it is impossible to tell without independent verification.
Photo: Courtesy of Laron Fomby
