Board approves President Gold’s contractually earned performance pay after debate over funding source

The Board of Regents voted to approve President Jeff Gold’s contractually eligible performance-based compensation for the 2024–25 year at the Aug. 14 meeting, following extended discussion about whether university system funds should be used to satisfy the contractually specified payment.

Under section 2 of President Gold’s employment agreement, he is eligible for a performance-based award equal to up to 15% of base salary upon meeting quantitative goals. Board materials presented at the meeting reported that Gold scored 98 out of 100 on the performance matrix tied to leadership pillars and deliverables for the year. The board debated whether the payment should be financed from system funds or secured from external donors, given ongoing budget reductions across campuses.

Supporters of paying the award from system funds described it as a contractual obligation the board undertook when it approved the president’s employment terms; they noted comparable performance-based arrangements elsewhere in the system. Opponents said the university’s fiscal pressures and recent cuts to services made them reluctant to expend system resources and urged exploring alternative funding sources. Two regents voted "no" on the final roll call; the motion passed by majority vote.

The transcript records multiple regents praising Gold’s first-year accomplishments, citing research growth, fundraising milestones and statewide outreach, while also expressing the tension between honoring contracts and fiscal constraints. The board did not identify a specific alternate funding source during the meeting; the payment was approved by roll-call vote.