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UF's Machen could become millionaire president
Florida president Bernie Machen gets an extension that will pay $1.2-million in 2012.
Associated Press
Published December 23, 2007
GAINESVILLE - Despite a hiring freeze and other cost-savings measures now in place at the state's 11 public universities, president Bernie Machen has received an extension and a healthy pay boost from the University of Florida trustees.
The deal keeps Machen at the school through 2012 and boosts his total compensation to more than $1-million in the final year of the contract.
He will get $730,000 in 2008, and then a 14 percent hike to $830,000 from 2009 through 2011 before a $1.2-million package in the final year of the contract. The figures represent salary, car allowance, retirement payments and bonuses.
"It's a done deal," UF spokesman Steve Orlando said Saturday.
The state cap on presidential salaries is $225,000. The remainder of Machen's money will be paid by the UF Foundation, UF Athletic Association and Shands HealthCare where he serves as chairman of the board.
If Machen leaves at the end of 2011, a year before his contract ends, he would be entitled to a $300,000 bonus. If he stays through 2012, he'll get an extra $100,000 retention bonus. Additionally, Machen will collect $100,000 instead of taking a sabbatical in 2009.
Trustee Al Warrington was the lone trustee to oppose the contract extension Friday. Warrington, a major donor for whom the university's College of Business is named, also voted against awarding Machen $285,000 in bonuses last month. He has not spoken about his reasons for opposing the extension.
Despite hard financial times in Florida's higher education as a result of the state's struggling economy, trustees' chairwoman Dianna Morgan said Machen deserves to be among the highest paid university presidents.
"I believe that our president earns every penny of this money," she said. "It is appropriate that we pay very competitively to attract the very best leader."
At Machen's request, the contract also guarantees that he'll never be without technical computer support at his home during his association with the school.
Correction
The Rev. Randy White, pastor of Without Walls International Church, presented Metropolitan Ministries with a check for $50,000 on Saturday. A story in Saturday's paper erred about when this occurred.
[Last modified December 22, 2007, 23:41:48]
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