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Indiana State University
	

	

University Faculty Senate

October 19, 2007 Minutes
 
	

Indiana State University
Faculty Senate 2007-08

FEBC

 

     

Meeting Date: Oct. 19, 2007                   Meeting Venue: Room 286, Holmstedt Hall

Meeting Time: noon

Members Present:  K. Bolinger, H. Chait, K. Gaul, L. Maule (Chair), L.                                   Rosenhein, S. Shure

Absent: S. Eley, T. Mulkey, A. Sinha                          

Ex-Officio: M. Green

Guests:  C. Barton, G. Floyd, M. Greenwell, J. Jacso, D. McKee

 

1.  At the request of the committee, G. Floyd described how decisions about Afavorable variance@ monies from faculty and staff benefits were made.  He explained that these are not monies recovered from premiums, but one-time funds that are reserved as a contingency if all open staff and faculty lines are filled.  Prioritization of the funds is determined by the President=s cabinet.  Some are used as seed money for programs, some for maintenance and repair, and some makes up inflation costs on construction.  The money may be placed in the capital expenses budget temporarily and then used for other purposes.

            K. Bolinger asked how faculty compensation is prioritized among various budgetary needs, and in particular, how salary vs benefits increases were decided.  G. Floyd noted that compensation is a major part of the budget and increases are a function of state appropriations, tuition increases, and enrollment.  Additional discussion of salary matters occurred.  A single committee will be charged broadly with benefits review as well as the specific issue of retirement benefits.  The process will extend beyond June of next year.  FEBC will be kept informed about the membership of this committee.

            G. Floyd stated that recommendations from the last study of compensation including salary compression issues have not been fully implemented owing to the costs.

 

2.  L. Maule asked C. Barton and M. Greenwell to report at the next meeting on the fiscal implications of FEBC recommendations concerning the reduction of eligibility requirements for disability from 20 to 15 years of service, and increasing the percentage of salary covered by the disability benefit.

 

The meeting was adjourned at 1:20 pm.

 

 

 

 

 

 

Last modified: September 11, 2008

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