After months of interviews and closed-door meetings, Chancellor Holden Thorp has recommended Karol Gray be named the next vice chancellor for finance and administration.
Gray would be the second consecutive vice chancellor for finance from Stony Brook University, pending the Board of Trustees’ approval at its September meeting.
Gray was selected from a pool of three other finalists whose names were not released by the University.
Gray worked under current Vice Chancellor for Finance Dick Mann at Stony Brook. When Mann accepted the position at UNC, Gray took over his post.
The projected first-year compensation for the University’s top finance position is $240,000, according to a contract by Witt/Kieffer, the firm hired by the university to help with the search.
“She knows how to handle budget situations, which is key for us right now,” Mann said. “In many respects, she’s had to deal with bigger budget problems because New York State is not as friendly to higher education as North Carolina is.”
As UNC’s vice chancellor for finance, Gray would oversee the University’s operating budget — which was more than $2.4 billion in fiscal year 2009-10.
She would oversee the University’s financial planning and budgeting in addition to planning the facilities and construction projects.
“She brings more than three decades of experience at a distinguished public university to Carolina at a time when we face major budget challenges and changes to how we run the campus,” Thorp said in a press release.