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    Leaders at University of South Florida Taking Pay Cuts to Trim Budget

    Leaders at University of South Florida Taking Pay Cuts to Trim Budget

    “The president, whose base salary is $575,000, will take a 15 percent pay cut.”

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    The pandemic is not finished decimating higher education. Not even close.

    The Tampa Bay Times reports:

    USF president Steve Currall, top leaders will take pay cuts to trim budget

    The University of South Florida’s top leaders, including president Steve Currall, will collectively reduce their pay by $600,000 as part of an effort over the next two years to cut millions from the school’s budget, Currall announced Thursday.

    The president, whose base salary is $575,000, will take a 15 percent pay cut.

    While specifics have yet to be determined, the university said it will cut $36.7 million by June —including $13.4 million from colleges, $4.9 million from academic support, $6.9 million from USF Health, $6.5 million from university business support, $3.1 million from the USF St. Petersburg campus and $1.9 million from the USF Sarasota-Manatee campus.

    Adjustments totaling an additional $56.9 million will need to be made by the end of the 2022 fiscal year, either through more cutting or efforts to find new revenue sources, officials said.

    Several faculty members said in interviews that they expected layoffs.

    The cuts, driven by declining tax and lottery revenues during the coronavirus pandemic, have been discussed for some time but are coming into clearer focus as officials reach decisions on the details.

    Over the summer, state officials announced that budgets at all of Florida’s public universities would be cut by at least 6 percent. They asked the schools to plan for cuts of 8.5 percent by the end of this fiscal year, and 10 percent by the end of the next.

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