SOU’s fiscal crisis is a collision of multiple factors, including what Bailey calls inadequate state funding and Trump administration actions that will slash support for students.
As a result of what Bailey says is "one of the most severe financial situations" in the school's history, he will take an almost 20% pay cut for the rest of this fiscal year.
SOU’s Board of Trustees voted unanimously on Wednesday to approve his voluntary request to reduce his salary by about $53,000. His salary had been $290,000.
Although "it's certainly been the most difficult week I've had since I've been here," Bailey hopes this change will get people’s attention.
"Although what you're voting on today is not a solution to the structural problem, the one thing I do think it does is I think it raises awareness at the state level for the crisis that we're experiencing," he said.
Trustee Daniel Santos thanked Bailey for his sacrifice.
"A pessimist complains about the wind, the optimist hopes for better wind, the realist adjusts the sails," he said. "I am so grateful to have President Bailey at the helm as we adjust the sails."
But Bailey pushed back against the praise, saying, "I don't want to celebrate this."
"There are a lot of people who we love and care about, faculty and staff, who are going to be part of the [provisional plan to address SOU's fiscal crisis] who are sacrificing more than I'm sacrificing," he said. "I want to keep it in perspective."
Board Chair Sheila Clough reminded trustees before they voted that the board did a market assessment of Bailey's compensation last year.
"President Bailey is among the lowest paid university presidents across the Oregon system," she said. "The request to reduce the president's salary at this point would continue to further deteriorate the president's compensation against the market."
Bailey said he decided on the percent salary reduction based on the precedent set by former SOU President Linda Schott, when she accepted a 20% reduction in 2020.
SOU needs to cut about 15% of its budget. Bailey hasn’t given a timeline for reaching that goal, but there will be a meeting on Friday morning to share details of the proposed plan.
SOU has suffered a series of financial crises in recent years, at one point facing a projected $13 million deficit.
JPR is licensed to Southern Oregon University, but our newsroom operates independently. Guided by our journalistic standards and ethics, we cover the university like any other organization in the region. No university official reviewed or edited this story before it was published.
