COLUMBIA, SC (FOX Carolina) - The University of South Carolina announced Tuesday said President Bob Caslen, several senior-level cabinet administrators and the university’s three highest paid coaches have all agreed to voluntary 10 percent pay reductions for the upcoming fiscal year, which begins July 1.
The voluntary reduction is expected to save more than $1.2 million in the upcoming fiscal year as the school continues to feel the financial impact from the COVID-19 pandemic.
“The global health crisis will continue to have a significant impact on the university, and I applaud our university officials and coaches for their willingness to personally contribute to our institution’s financial health,” Caslen said in a news release. “From the very beginning of the pandemic, our leadership team has responded with tremendous professionalism and a singular determination to help the university navigate through this unprecedented challenge. I thank them for their deep commitment to our students and our mission.”
Head football coach Will Muschamp, head men’s basketball coach Frank Martin, and head women’s basketball coach Dawn Staley have volunteered for the pay cuts, as well as Athletics Director Ray Tanner and all members of the president’s cabinet, the university said.
The university estimates that the pandemic has made a $40 million impact on the school.
Additional cost-saving measures will include delaying capital construction projects; deferring non-critical maintenance; filling only mission-critical positions; eliminating university-funded travel; postponing faculty merit raises; and eliminating employee overtime. The option to allow state institutions to implement furloughs was approved by state’s General Assembly and Gov. Henry McMaster earlier this month, and the university also is developing furlough plans for consideration.