Ashland University is instituting pay cuts to faculty and administrators. The announcement was made via the university’s internal portal yesterday.
The pay cuts are progressive. For example, someone making between $45,800 and $78,999 will see a 5 percent cut, while someone making $79,000 to $109,999 will see a 6 percent cut. Those making less than $45,800, and those who are hourly employees, will not have their pay cut.
President Carlos Campo is taking the largest pay cut, at 18 percent. According to the 2018 IRS 990 form, Campo had a base salary of $308,247 in 2017. When “Other Reportable Compensation” is added in (not including retirement and nontaxable benefits), that compensation jumps to $449,762.
The announcement said the cuts were necessary because of the impact of COVID-19 on the university, and that “further reductions in expenses, including personnel, will be announced over the coming weeks.”
Colleges and universities across the country are being impacted financially by the pandemic. Drew University in New Jersey, the University of New Havenin Connecticut, and Marquette University in Wisconsin are just a few of the universities that have announced they are furloughing employees.
Because of this, the United States Department of Education will be distributing $14 billion in aid to colleges and universities.
Ashland University will be given $3,987,716, at least half of which must be used for emergency financial aid grants for students.