Common use of SALARIES AND FRINGE BENEFITS Clause in Contracts

SALARIES AND FRINGE BENEFITS. A. Salary Schedules Salary Schedules for Faculty will be established by the Board, depending upon the availability of funds, and may be adjusted from time to time at the Board’s discretion. Refer to Appendix I, for the current Salary Schedule. B. Salary Committee A Salary Committee shall be formed. Members of the Salary Committee shall be appointed each year by September 1. The membership shall consist of two (2) persons appointed by the President and two (2) members appointed by the Union. The Salary Committee shall meet to formulate Faculty salary and benefits recommendations, encompassing both rate and structure for both regular and overload compensation, to be submitted to the President by the last business day of the Fañomnakan Semester. The President shall forward and give an oral report on these recommendations to the appropriate Board Subcommittee before the November regular meeting of the Board of Regents. The Board of Regents will consider these Salary Committee recommendations for the budget of the following fiscal year. These recommendations shall take into consideration recent changes in the cost-of-living index, the compatibility of University of Guam salaries with those of similar institutions and the University of Guam’s financial conditions.

SALARIES AND FRINGE BENEFITS. A. Salary Schedules SALARY SCHEDULES Salary Schedules for Faculty will be established by the Board, depending upon the availability of funds, and may be adjusted from time to time at the Board’s discretion. Refer to Appendix I, for the current Salary Schedule. B. Salary Committee SALARY COMMITTEE A Salary Committee shall be formed. Members of the Salary Committee shall be appointed each year by September 1. The membership shall consist of two (2) persons appointed by the President and two (2) members appointed by the Union. The Salary Committee shall meet to formulate Faculty salary and benefits recommendations, encompassing both rate and structure for both regular and overload compensation, to be submitted to the President by the last business day of the Fañomnakan Semester. The President shall forward and give an oral report on these recommendations to the appropriate Board Subcommittee before the November regular meeting of the Board of Regents. The Board of Regents will consider these Salary Committee recommendations for the budget of the following fiscal year. These recommendations shall take into consideration recent changes in the cost-of-living index, the compatibility of University of Guam salaries with those of similar institutions and the University of Guam’s financial conditions.