The Securities and Exchange Commission, which regulates the financial statements of public companies, has rigorous rules requiring the disclosure of compensation for senior executives. These rules should serve as a model for the disclosure of compensation for public school employees, especially superintendents.
The SEC’s rules were gradually built up in response to frequently recurring scandals revealing that, absent forced government disclosure, corporate CEOs, often with the tacit approval of their boards of directors, have strong incentives to secretly pay themselves… more