Budget

The Senate budget is prepared by the Financial Officer each spring in consultation with the Steering Committee, which includes all standing committee chairs. The proposed budget is presented to the Senate for approval before being requested from the Office of the Provost.

Stipends (Personnel Services)

FY 17–18 FY 16–17
Officers and committee members (see Compensation Policy below) $75,000 $68,400
Academic Initiatives Fund stipends $5,000 $0
Distinguished Teacher Award $3,600 $3,600
Federal Work Study $5,000 $5,000
Student Help $5,000 $5,000
Fringe/Employee Benefits $3,600 $3,600
TOTAL STIPENDS BUDGET  $101,600  $89,772

Expenses (OTPS)

FY 17–18
Senate Meetings $3,500
Committee Meetings $3,500
Senate Happy Hour $2,000
Printing $1,000
Office Supplies $1,000
Computers & Equipment $2,000
DTA Medal Design & Production $1,500
Advertising & Promotions $500
Website & Internet Fees $300
Subscriptions (AAUP) $1,200
Academic Initiatives Fund $5,000
Consulting Fees $4,000
TOTAL OTPS BUDGET  $25,500

Senate Compensation Policy

Approved by the Provost and Senate on April 12, 2016 and the Board of Trustees on May 11, 2016. See also previous Compensation Policy.

The Senate Compensation Policy provides for compensation to qualified Senate constituents for their service on the Senate. Compensation may be in the form of release time and/or stipends. Qualified recipients are officers of the Senate Executive Committee, non ex-officio members of the Senate Steering Committee, chairs of Senate committees, and part-time faculty serving on Senate committees. Alternate members will not be compensated. These constituents, including non-Senators, may opt for teaching release during regular fall and spring semesters, in lieu of a stipend, in part or in whole. Stipends shall be based on percentages of the minimum starting salary in effect for full-time faculty of professor rank as defined in the CBA. Release time and/or stipend shall not exceed the percentage (or appropriate prorated portion for partial terms served) specified for each of the following positions:

Senate Officers

President – 24% per year or $14,400
Financial Officer – 10% per year or $6,000
Information Officer – 10% per year or $6,000
Outreach Officer – 10% per year or $6,000

Senate Committees

Academic Policy Committee Chair – 6% per year or $3,600
Academic Policy Committee Member – 2% per year or $1,200

Institute Curriculum Committee Chair – 12% per year or $7,200
Institute Curriculum Committee Member – 5% per year or $3,000

Steering Committee Senate Delegate – 2% per year or $1,200

All other Senate committees and Senate positions as specified in Standing Rules of the Senate.

Distinguished Teacher

An annual honorarium shall be provided for the following designation:

Distinguished Teacher Award recipient – 6% per year or $3,600

Release Time

Full-time faculty elected to these positions shall have the option of requesting teaching release from the Provost—in consultation with the faculty’s program head and dean—in lieu of receiving a stipend, in part or in whole. The Senate shall transfer to the Office of the Provost, the stipend amount for that Senate position proportional to the amount of release time requested and granted. An amount equivalent to the cost of replacing that individual’s teaching responsibilities during the release time shall be paid by the Office of the Provost.

Stipend Payment

Stipend payments shall be made annually in three (3) equal installments paid on the last payday before the end of each of the fall and spring semesters and on the last payday before June 30. Compensation for partial terms shall be adjusted on an annualized three hundred sixty-five (365) day prorated basis.

Persons holding more than one compensated position within the Academic Senate (with the exception of the Distinguished Teacher Award recipient) shall receive compensation for only the highest paid position.

Confirmation and Notice

By the eighth week of the fall and spring session and by June 15, each year, the Senate shall electronically transmit to the Office of the Provost, confirmed names elected to positions and their respective terms of office.

Deficits and Surplus in Stipends

In the event that Senate salaries encumbrances exceed Senate salaries budget, the Senate shall request relief with a written rationale to the Office of the Provost. To the extent possible, the Senate request shall be submitted before the eighth week of each regular semester. Any surplus balance in the Senate’s salaries budget as a result of unfilled positions and/or unspent monies shall be returned to the Institute’s general budget.