FROM: Stacey Barnier, Chief Human Resources Officer
SUBJECT: Determine Merit Bonus Payment Amount for Chief Executive Officer
RECOMMENDATION:
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Determine whether to award a merit bonus payment to the Chief Executive Officer, up to ten percent (10%) of her annual base salary.
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BACKGROUND:
At the Board’s July 11, 2024 meeting, a new employment agreement was approved for the Chief Executive Officer. As such, she is eligible for a merit bonus payment of up to ten percent (10%) of her base salary based upon performance, achievement of goals, and financial condition of SBCERA, at the Board’s discretion.
The confidential personnel components of the Chief Executive Officer’s annual review were discussed by the Board in closed session on May 1, 2025, and with the Ad Hoc Performance Review Committee on May 15, 2025. The Board should determine whether to award a merit bonus payment to the Chief Executive Officer, and if so, in what amount. The Board may also use partial percentage points.
A companion closed session item to discuss the confidential personnel components of performance has been separately agendized.
BUDGET IMPACT:
Costs for this item are included in the current year non-administrative, investment budget.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Quality Employer and Workplace
STAFF CONTACT:
Stacey Barnier
ATTACHMENT:
None.