Banking Commission bonuses
The North Carolina Office of the Commissioner of Banks paid nearly $500,000 in "performance bonuses" to staff members during the current fiscal year.
From a story that's now online:
RALEIGH — The North Carolina Banking Commission paid $478,081 in bonuses to 72 employees last year and wants to set aside funds for another round this year.The bonuses and potential bonuses have drawn the attention of legislators, who are trying to bridge a $4 billion budget shortfall.
“It’s hard to justify when we’re cutting salaries for some state employees and furloughing others,” said Rep. Pricey Harrison, a Greensboro Democrat who heads the House Appropriations subcommittee that oversees the commission.
Most state workers are subject to tightly drawn wage rules, but in 2005 the General Assembly exempted the Commissioner of Banks and his employees from the State Personnel Act.
“The banking commission has been involved in a project over the past several years to find and attract people to do the important work of banking regulation,” said Mark Pearce, the state’s Deputy Banking Commissioner.
The nearly $500,000 in bonuses were issued in August and were the first for the agency, Pearce said. Pearce received a $12,088 bonus under the program. His boss, Banking Commissioner Joseph Smith, did not receive a bonus and is not eligible for one, Pearce said.
Click here for the whole story.
Click here for a spreadsheet showing who in the agency got bonuses and how much they got.
Click here for a report to the legislature the commission did relative to its bonus program. (As far as I can tell, nobody much read this thing until this month. Fair warning; it's a 12 MB file and coming off a slow server.)
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