Southeast Missouri State University president Dr. Ken Dobbins will be with the university for another four years, the university announced Friday.
Southeast's board of regents approved a contract extension at their Tuesday meeting. The decision was not announced after a closed session that lasted nearly two hours. The board made several other decisions regarding faculty promotion and merit designations during the closed session.
Dobbins' contract did not include a salary increase and runs through June 30, 2014. Top leaders at four year public universities in Missouri have an average salary of more than $234,600.
While total compensation for the president will not increase, there are some adjustments to the contract. Dobbins also receives an annuity and housing allowance. He said $20,000 was transferred from the housing allowance to the annuity. He now receives a $10,000 housing allowance and $45,000 annuity.
"President Dobbins has guided the institution through some tough financial times in the past, and he possesses the ability to lead Southeast through the anticipated difficult financial times ahead of us," said board president Brad Bedell, in a statement.
The university has been identifying about $8 million in budget reductions over the next two years to prepare for anticipated cuts in state funding. The board also passed the university's $97.2 million operating budget Tuesday. For the second year, faculty did not receive a pay increase other than those who were promoted.
Dobbins was promoted to president July 1999 at a salary of $130,000. He is the university's 17th president and holds a master of business administration and doctorate of higher education administration.
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