The CU Board of Regents on Wednesday voted 5-3 to continue researching the feasibility of allowing incoming board members to be paid stipends for their work on the board. Although most board members stressed they would not have taken compensation if offered, they said it doesn’t hurt to look into.
The initiative was brought to the board in November by Regent Linda Shoemaker, D-Boulder, and outgoing regent Stephen Ludwig, who said he was concerned the out-of-pocket cost would discourage outstanding candidates from running for the position. The stipends would go into effect after all current regents are no longer sitting board members.
Patrick O’Rourke, vice president, university counsel and secretary of the Board of Regents, explained that no peer institutions compensate their boards, but that doesn’t mean it can’t be done. He said, however, board compensation could make regents accountable to the university’s general statutory and ethics standards. However, any violation of those ethics by the board could jeopardize the university’s tax-exempt status.
Chair Sue Sharkey, R-Castle Rock, Vice Chair Jack Kroll, D-Denver, and Regent John Carson, R-Highlands Ranch, were opposed to further exploring the initiative.