COLUMBUS, Ohio — Ohio State University trustees are giving President Michael Drake a raise.
The board on Friday approved a 2 percent raise, plus a bonus of $200,000, the maximum possible under his contract. The Columbus Dispatch (http://bit.ly/1PsW84G ) reports that when applied to his base salary of $800,000, it will total more than $1 million this year.
Drake says he'll give the 2 percent raise, which amounts of $16,000, to a charity he has yet to determine.
Trustees in August praised Drake for meeting a number of goals, including establishing a five-year goal of cutting $200 million in costs and raising $200 million in revenue.
The university has a budget this year of a $5.5 billion.