Adopted Date: 08-08-2014
This policy applies to the University President and spouse.
The University President is eligible to receive the same employee benefits provided by policy for all other University employees, including life insurance, health and accident insurance, retirement, and tuition waivers. The Board of Regents may further authorize supplemental life insurance, deferred compensation, or other benefits or salary supplements as part of the Regents’ goal to maintain peer equity in the University President’s compensation.
If expressly authorized by the Regents in furtherance of the University President’s responsibilities, additional benefits such as sabbatical privileges, leaves of absence, individual professional association memberships, and club memberships and dues may be provided for use in carrying out the role of University President.
The terms of the University President’s compensation and benefits package are set forth in an Employment Agreement between the University President and the Regents. In the event of a conflict between the Employment Agreement and the provisions of this policy the Employment Agreement governs.
Term Life Insurance
The University will purchase a term life insurance policy on the life of the University President. The Employment Agreement between the University President and the Regents specifies that the University must be named as a partial beneficiary under the policy. The premium cost for the percentage of the policy for which the University President specifies the beneficiary is to be included in the taxable compensation of the University President. The premium cost for the percentage of the policy for which the University is named as a beneficiary is not to be included in the taxable compensation of the University President.
The University President may receive an automobile allowance, payable monthly for the reimbursement of the use of personal vehicles for University purposes. The University will reimburse the University President’s business-related gasoline expenses. The automobile allowance shall be specified in the Employment Agreement.
The University President will receive reimbursement for reasonable travel, hotel, and other proper expenses for official University business, in accordance with UAP Policy 4030 (“Travel”). The Board of Regents will approve any requests for exceptions to the requirements of UAP 4030 on a case-by-case basis.
The University will pay or reimburse the University President for reasonable expenses incurred to attend educational conferences, conventions, courses, seminars, and other similar professional growth activities.
The University President’s official residence is located at 1901 Roma NE on the University campus. As required by the Board of Regents as a condition of employment, the residence will be used for University purposes, both administrative and social. The University will provide repair and maintenance services, utilities (electricity, gas, water, sewer, cable television or similar service, and telephone service) for the residence. Any remodeling or major repairs in excess of twenty thousand dollars ($20,000) must be reviewed by the Board of Regents’ Finance and Facilities Committee and approved by the full Board.
In the public parts of the official residence the University President shall entertain visiting dignitaries and community leaders, hold receptions, meetings, fundraisers, or otherwise host a variety of events for mixed business and social purposes benefiting the interests of the University. In such instances, cooking, catering, and housekeeping services may be provided or otherwise paid for by the University at the University President's request.
In order to assist the University President in carrying out presidential duties, the University President will have a reasonable discretionary fund made available from private funds raised by the UNM Foundation for such miscellaneous expenses as retirement or recognition gifts, purchase of tables at receptions sponsored by community organizations, and other similar expenses judged appropriate for the benefit of the University.
Reimbursement of the purchase of alcoholic beverages is prohibited except when incurred in the performance of University business, such as a hospitality event for guests of the University. Payment or reimbursement for such purchases of alcoholic beverages shall be made with University of New Mexico Foundation funds. The University President is expected to comply with UAP Policy 4000 (“Allowable and Unallowable Expenditures”).
The Regents recognize that the University President’s spouse is expected to participate in the activities and operations of the University. The spouse often makes a large and uncompensated contribution to the affairs of the University. By representing and often substituting for the University President at functions within the University and the community and through involvement in University events, fundraising, alumni, and other activities, the spouse can provide an important benefit to the University. In order for the reimbursement of a spouse’s expenses to be non-taxable and excluded from the University President’s gross income, the spouse must have been engaged in an activity that has a bona fide University business purpose.
Actual expenses for travel, lodging, and meals for the spouse may be paid by the University when the spouse participates in meetings, conferences, and workshops specifically related to the presidential role, and when participating in official functions such as alumni development, fundraising, and University advancement. Any such University related travel expenses incurred will be reimbursed according to UAP 4030 (“Travel”) and other established policies and procedures and be considered non-taxable.
When the spouse accompanies the University President on trips and does not have a bona fide business purpose or has no specific and significant involvement in the business activity, the amount paid for such travel is taxable and must be included in the President’s gross income.
Annual Audit Report
Internal Audit shall prepare and submit to the Board of Regents an annual audit report detailing the University President’s travel and entertainment expenses.
Exhibit A. - Taxes Related to the Expenses of the University President's Spouse
Exhibit B. - Documentation Form for Spousal Expenses