Iowa university leaders turn down bonuses

The presidents at Iowa's three regent universities will forgo performance bonuses for the current fiscal year, in light of the 10 percent budget cuts facing the universities.

University of Iowa President Sally Mason, Iowa State University President Gregory Geoffroy and University of Northern Iowa President Ben Allen said this morning during a state Board of Regents meeting in Cedar Falls they respectfully decline the possible bonuses for 2009-10. The regents would have considered the performance incentive pay for the three presidents next summer, after the end of the fiscal year.

The bonuses amount to 15 percent of Mason's pay package, 12 percent of Geoffroy's and 8 percent of Allen's, according to Regents President David Miles.

“Many people are facing hardships,” Geoffroy said. “By any measure it would not be appropriate for me to accept any kind of performance-based bonus.”

Gov. Chet Culver has ordered 10 percent state budget cuts. The UI and ISU must cut nearly $25 million this year, while UNI must cut $9 million.

Mason, Geoffroy and Allen this morning will present their plans to cut the university budgets.