Acting President Stipend Payment

Policy

In those cases when the President of the College is unavailable to perform any of his/her duties, the President shall appoint an executive officer to conduct the business of the President in his/her absence.  The acting president shall be a member of the executive staff and appointed in the order designated in the Acting President policy. The Acting President will receive a daily monetary stipend in accordance with the terms in the Acting President Policy.  The daily monetary stipend is the difference between the Acting President per diem rate and the actual executive staff member per diem rate in effect at September 1 of each year.  The annual Acting President per diem rate is determined on September 1 and is calculated by taking the base rate utilized in the prior year and multiplying the base rate by any COLA percentage increase received by exempt staff in the current year.  The monetary stipend payment will vary by Acting President because the actual executive staff member per diem rates are different.  The rate is reviewed and approved each year by the President of the College.

Purpose

To define the Acting President stipend payment rate and annual calculation.

To Whom Does This Policy Apply

Executive Staff, President’s Office, Human Resources and Business Office.

References

Acting President policy

Definitions

None

Procedure

1.  Each year on September 1, a Human Resources representative will send to the President’s Office the following information: 

a)    Annual salary of each executive staff member, exclusive of the President, in effect on September 1

b)    Per diem rate of each executive staff member which is determined by taking the annualized salary and dividing it by the number of contracted days in the year

c)    Acting president annual rate which is calculated by taking the prior year’s base acting president salary and increasing the amount by any COLA percentage received by all exempt staff in effect at September 1.  The amount is rounded upwards to the closest thousand

d)    Acting president per diem rate which is the Acting President per diem rate divided by the number of contracted days in the year

e)    Stipend amount due to each executive staff member per day which is the difference between b) and d)

1. The President reviews and approves the stipend amount due to each executive staff member per day and notifies Human Resources
2. Acting President requests for stipend payments are prepared by the President’s Office, authorized by the President’s Office and delivered to Human Resources
3. Human Resource personnel prepare the payment of the Acting President per diem stipend through the payroll process