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Florida Statutes Title XLVIII. K-20 Education Code § 1012.885. Remuneration of Florida College System institution presidents; limitations

Current as of January 01, 2025 | Updated by Findlaw Staff

(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.

(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.

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Cite this article: FindLaw.com - Florida Statutes Title XLVIII. K-20 Education Code § 1012.885. Remuneration of Florida College System institution presidents; limitations - last updated January 01, 2025 | https://codes.findlaw.com/fl/title-xlviii-k20-education-code/fl-st-sect-1012-885/

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