YEE: CSU EXEC COMP POLICY RINGS HOLLOW

CSU Board of Trustees set to raise administrative salaries “by any means necessary”

SACRAMENTO – Today, Senator Leland Yee (D-San Francisco/San Mateo) issued the following statement in response to a proposed executive compensation policy by the California State University Board of Trustees.  The new policy would limit the use of state funds for executive pay hikes for two years, but instead would allow the use of university foundation dollars to give raises to their top administrators:

“The new compensation policy rings hollow. Once again, the CSU administration has put lining the pockets of their six-figure executives before the needs of students. This latest masquerade demonstrates that the Board of Trustees will raise the salaries of executives by any means necessary. Foundations are meant to assist students and not to ensure campus presidents are living the life of the rich and famous. As a legislator and an alumnus of the CSU, I am highly disappointed that this abhorrent trend continues.”

Despite overwhelming bipartisan support and endorsements from taxpayer groups, faculty, students and labor unions, Yee’s bill to prohibit executive pay hikes (using state or foundation funds) during bad budget years or when student fees increase recently fell one vote short of passage in the Senate Education Committee.

###

Contact: Adam J. Keigwin,
(916) 651-4008