To fund faculty salary adjustments, the University uses money appropriated by the General Assembly. These state funds are allocated annually by the Board of Visitors, as follows:
.1 The portion of funds needed for promotions, and for the correction of salary inequities is allocated first.
All full-time, continuing faculty members are subject to annual performance review (§6.1). Should funds become available to award merit increases to faculty, the provost will work with the University Faculty Council to develop a process for making these awards, a process consistent with and based on the annual review process. Merit pay will not be awarded to any faculty member with an overall rating of “unsatisfactory” for the previous evaluation period.
6.8.3 Pay Dates The first pay date for the academic year is September 1. Salary is paid in twenty-four equal paychecks over a twelve-month period. Pay dates are the first and the sixteenth of each month. When a holiday falls on the first or the sixteenth of the month, the payday is the immediately preceding workday.
6.8.4 Salary Checks It is required that checks be electronically direct-deposited to a bank account identified by the faculty member. Faculty members who plan to terminate employment at the end of an academic year must leave a forwarding address at the Payroll Office so that payroll checks can be mailed. Applicable federal and state taxes are deducted.
The University does not, under any circumstances, pay salary advances to faculty members.