University of South Florida System President Judy Genshaft is scheduled to retire next summer. But before that happens, the school's Board of Trustees is deciding on her annual bonus.
Under terms of her contract, Genshaft can receive a performance-based stipend of up to $300,000. Up to 70 percent of that is awarded by a USF Board of Trustees Governance committee, the rest by Board Chairman Brian Lamb.
On Monday, that committee voted to give Genshaft the entire $210,000 allowed. Lamb will announce his decision on how much of the remaining $90,000 she will receive when the full Board meets Dec. 4 at USF St. Petersburg.
The bonus is based on USF's performance in a number of goals during the 2017-2018 fiscal year, including research, student success, strategic inititatives and fundraising.
Earlier this year, USF achieved one of Genshaft's long-term goals: attaining preeminent status, placing it alongside the University of Florida and Florida State.
Between salary and bonuses, Genshaft made almost $1.2 million in the 2016-17 fiscal year. According to data released by the Chronicle of Higher Education this summer, that put her seventh among the country’s more than 250 public university presidents.
That broke down as $493,500 in base pay, $175,000 in bonus pay and a one-time $500,000 retention stipend for completing a five-year contract.
This fiscal year, Genshaft's base salary is $505,837 and she can receive another $118,674 in deferred compensation and up to $300,000 in bonuses.
USF spokesman Adam Freeman said the president is eligible for a stipend based on her performance during the current 2018-19 fiscal year.
Genshaft announced last month she will retire, effective July 1, 2019, after 18 years as president of USF.
Editor's note: The story and headline have been updated to reflect that this is not Genshaft's final bonus.
