Last Revised: September 2008
Faculty on renewable contracts will sign a new Terms of Employment for each fiscal year. The renewal will be for a period not to exceed 12 months and will correspond to the state fiscal year starting July 1 and ending June 30.
A Salary Worksheet that details the calculation of the new base salary including merit, cost of living, and any other compensation included in the contract. Cost of Living Adjustments (COLA) and merit awards are contingent upon legislative funding at the time of the effective date of the contract.
For School of Medicine faculty, the Salary Worksheet may not include a listing of all compensation.
Terms of Employment will be distributed to faculty members. The faculty member should review the Terms of Employment, sign the document and return it to the dean/vice president's office. If the faculty member fails to return the Terms of Employment, there is a possibility that the July paycheck could be inaccurate. Any discrepancies or issues with the Terms of Employment should be discussed with the department chair of supervisor. The Terms of Employment is not binding or of any legal effect until duly executed by both the employee and the appointing authority.