The UCA Board of Trustees met by conference call this afternoon to formalize a contract offer for Dr. Allen Meadors, the North Carolina college administrator and UCA alum who's been picked by the Board to be the Conway school's next president.
Board Chairman Rush Harding says the board has had an agreement, in principle, since the board meeting last Friday. The Log Cabin reported that the salary would be $212,390 in state funds and $50,000 in private funds from the UCA Foundation. Harding said he and other board members are trying to make sure there are no mistakes and that foundation funds are budgeted appropriately and allocated in an amount cosistent with state statutes. Harding says the package will be "a little more than what he was making in North Carolina." If passed, the contract will be made public this afternoon.
UPDATE II: The board voted unanimously to approve the contract presented at today's meeting. Meadors' total pay will amount to $238,000 plus approximately $12,000 to pay rent on a UCA-owned home Meadors' parents will occupy. Benefits include the president's house, a housekeeper, groundskeeper and a country club membership. The president also has a choice between a $750 per month vehicle allowance or a university vehicle.
Harding said Meadors initially inquired about his parents living in a university-owned home near campus and offered to pay rent at a fair-market price. Harding said the board made the decision to extend the offer to Meadors and include the rent as part of his pay-package. "If he’s willing to pay fair market rent for it and he has his parents closer to him, which makes his life easier, and he’s our CEO, then that’s a good thing, not a bad thing," Harding said.
Interim President Tom Courtway is in the process of finalizing the contract and sending it to Meadors for his signature. He is expected to sign the contract later this afternoon. Meadors will arrive in Conway on Thursday and hold a press conference at UCA on Friday. He is expected to start on Tuesday, July 7th.