Florida Statutes 1012.885 – Remuneration of Florida College System institution presidents; limitations
Current as of: 2023 | Check for updates
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(1) DEFINITIONS.–As used in this section, the term:
(a) “Appropriated state funds” means funds appropriated from the General Revenue Fund or funds appropriated from state trust funds.
Terms Used In Florida Statutes 1012.885
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(b) “Cash-equivalent compensation” means any benefit that may be assigned an equivalent cash value.
(c) “Remuneration” means salary, bonuses, and cash-equivalent compensation paid to a Florida College System institution president by his or her employer for work performed, excluding health insurance benefits and retirement benefits.
(2) EXCEPTIONS.–This section does not prohibit a party from providing cash or cash-equivalent compensation from funds that are not appropriated state funds to a Florida College System institution president in excess of the limit in subsection (3). If a party is unable or unwilling to fulfill an obligation to provide cash or cash-equivalent compensation to a Florida College System institution president as permitted under this subsection, appropriated state funds may not be used to fulfill such obligation.
(3) LIMITATION ON REMUNERATION.–Notwithstanding a law, resolution, or rule to the contrary, a Florida College System institution president may not receive more than $200,000 in remuneration from appropriated state funds. Only compensation, as defined in s. 121.021(22), provided to a Florida College System institution president may be used in calculating benefits under chapter 121.