What is required in the justification for incentive-based bonuses?
Each justification must indicate precise answers and details to the following:
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- What is the specific source of “non-state” funding for each bonus request?
- What is the opportunity cost for providing bonuses? In other words, what is the impact of using these funds for bonuses rather than for other strategic initiatives?
- Provide documentation of generation of external funding or captured savings by the individual and how it was used/will be used to fund major divisional initiatives in support of strategic plan.
- Identify if the generation of funding or cost savings are recurring or one-time funds.