Citing increasing enrollment, the rollout of an academic realignment plan and overall strong leadership skills, Missouri State University President Clif Smart was given a 5% raise, matching the rate increase given other MSU employees.
The decision was made during a retreat meeting of the university’s Board of Governors, held Thursday and Friday in Kansas City.
The raise brings his base annual salary to $427,409 — the 5% raise matches the percentage of increase given to full-time employees, according to a press release from the university. Smart also will receive a $25,000 retention bonus on Dec. 31. His contract runs until June 30, 2026.
In a press release, Chair Chris Waters highlighted Smart’s accomplishments during a challenging year.
“Smart and his team overachieved with the implementation of the academic realignment plan in a 12-month period,” Waters wrote. “Along with a significant rebound in enrollment when other colleges continue to decline post-pandemic.”
Smart, in an interview with the Hauxeda reviewing the board’s retreat, said he anticipated good news about enrollment numbers for the fall '23 semester. According to the latest projections three weeks before the start of the semester, the university has 150 more total students than a year ago, and the freshman class has 500 more than it did last year, Smart said.
“We feel good about what’s coming in the fall,” Smart said.
A record of good performance over his 12-year tenure has led to the board rewarding Smart with bonuses. As part of a previous contract, he was given a $50,000 retention bonus on June 30, and is due to receive a retention bonus of $75,000 on June 30, 2024.
Full-time employees who were working at the university on July 1 also will receive $1,500 retention bonuses on Dec. 31.
Retreat agenda, upcoming issues
Smart’s review, which occurred during a closed session, was one of the few action items during the two-day meeting. Most of the items in the wide-ranging agenda dealt with planning for decisions and situations to come.
Key issues include:
• Adjusting the university’s policy for keeping cash reserves. Smart said the board is evaluating whether to increase the amount it keeps on hand.
“Typically, the board policy requires us to keep about $40 million in case of withholdings from state funding or catastrophic events,” Smart said. “That number was set 10 years ago, and the board is evaluating whether we should move that number up.”
Smart said a committee is studying options and financial indicators for such a decision, and anticipates a plan to be discussed by the board during its October meeting.
• Continuing the second year of a two-year transformation plan. The to-do list covers a swath of issues from the development of new programs to the pursuit of new funding sources. It also includes goals for increasing enrollment, with a special focus on student retention.
Smart said that means helping students negotiate barriers that keep them from completing a degree program. That could mean everything from helping underperforming students find tutoring to assisting with mental health needs.
“We’re not talking about decreasing the rigor of the curriculum,” Smart said. “What we are talking about is providing support to help them overcome obstacles … the goal is to get across the finish line. They still have to earn it, but we can help along the way.”
