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Tuesday, Oct 21, 2014
Education

Florida Poly will pay first president $385,000

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Published:   |   Updated: May 15, 2014 at 10:09 PM

— Trustees of Florida Polytechnic University have approved an employment contract for its top official, agreeing to pay President Randy K. Avent $385,000 in his and the institution’s inaugural year.

Avent is finishing his duties as associate vice chancellor of research development at North Carolina State University. He starts at Florida Poly on July 7.

The Lakeland university was formally split from the University of South Florida system in 2012 and will become the state’s 12th public university when it opens in August. Construction crews are finishing the eye-catching Innovation, Science and Technology building and a residential complex on the campus at Interstate 4 and the eastern Polk Parkway.

Trustees said Avent’s salary was determined following a study of presidential salaries at similar institutions nationwide. He will also receive a 15 percent contribution to a deferred retirement plan and a benefits package including transportation and housing reimbursement.

He will be eligible for a discretionary performance bonus beginning in his second year of employment not to exceed 20 percent of his salary, or $77,000.

The university said those benefits were comparable to those found in presidential contracts throughout the state university system in Florida.

Marshall Goodman, the last full-time chancellor when Poly was in the USF system, was paid $272,431 in his final year. Judy Genshaft, president of the USF System, receives a base salary of $470,000 and received a performance bonus of $166,250 last year.

Avent, 55, is expected to be confirmed by the state university system Board of Governors at its next meeting June 17-19.

jstockfisch@tampatrib.com

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