MINNEAPOLIS (AP) — The Minnesota State Colleges and Universities system has reached a deal with the system’s next chancellor that will pay a base salary of $360,000 plus up $50,000 a year in performance bonuses.

The system trustees agreed to the contract with Steven Rosenstone on Wednesday during the board’s regular monthly meeting. They picked him in February to succeed retiring Chancellor James McCormick.

The contract runs from Aug. 1 through July 31, 2014, although the board may terminate him at any time.

The fringe benefits include a housing allowance of up to $3,000 a month for the use of the chancellor’s residence for official functions, $1,000 a month for transportation costs and $833 per month for expenses.

Rosenstone is a vice president at the University of Minnesota.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments (4)
  1. Adam says:

    Stop the Bonuses!!!

  2. Philip Anderson says:

    It seems to me that the salary alone should be sufficient.

  3. Jaime says:

    why do you need a bonus to do your job. they are already paying you a salary plus stop the money for extra allowances. i think they can afford them with the hefty salary they are making. in these times you should feel lucky to even have a job.

  4. Bob says:

    Has anyone else noticed how the story has changed from the chancellor’s salary to one about the appointed presidents at MnSCU. Yet the comments here are about the original story. I would expect better from WCCO.

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