Posted to: Mark C. Dawkins, Dean of Coggin College of Business
Why is the administration awarding endowed Professorships with underfunded accounts? Since arriving Dean Marc Dawkins of the College of Business has offered five Professorships. However, despite a growing economy, within one year many were “underwater” meaning there were insufficient funds in the accounts to pay the agreed upon Professorship stipend. To address the problem the administration required recipients to sign new award letters agreeing to a reduction in their future stipends should the accounts remain “underwater” following a new policy. Although agreeing to fund the stipends for one additional year, some recipients stand to lose a significant portion or all of their awards. One faculty member who inquired was told by Dean Marc Dawkins, “any CCB endowed professor can rescind his/her acceptance of an endowed professorship at any time, so please let me know if you want to do so…” Why is the administration underfunding professorships? What happened that these faculty members stand to lose their awards? How does underfunded professorships help enhance research at UNF?
Response by Dean Dawkins:
CCB Dean Mark Dawkins awarded five Professorships in spring 2017, and the university subsequently changed its underwater accounts policy in Fall 2017. This policy change rendered several long-term and new Professorship accounts “underwater” for 2018-2019, and their operating accounts had insufficient balances to pay the planned stipends. The CCB Dean’s Office fully funded all underwater stipends in 2018-2019.