Topeka ? The Kansas Board of Regents on Thursday approved 1.5 percent pay raises for the chief executive officers of the regents’ universities.

The increase will bring KU Chancellor Bernadette Gray-Little’s annual pay to $500,040. Approximately $220,000 of that amount comes from privately raised funds through the KU Endowment Association.

Board members said the pay raises, which take effect in July, reflected their appreciation for the job the CEOs do while also recognizing the state’s budget constraints.

“I have been very impressed with our universities,” said Regent Shane Bangerter, who just completed his first year on the board.

Kansas State University President Kirk Schultz will make $466,951; Wichita State President John Bardo, $350,175; Pittsburg State President Steve Scott, $258,194; and Emporia State President Michael Shonrock, $255,019.

Newly hired Fort Hays State President Mirta Martin did not receive a pay raise because she starts July 1.