From the Rocky Mount Telegram, June 1

Pay cuts are a sensitive issue no matter what kind of job you hold.

Companies in the private sector manage wage reductions, furloughs and layoffs based on how the companies are performing and how cuts may affect operations. Sales staffs, for example, often are kept at full-strength, even in economic hard times, because companies recognize their importance in generating revenue.

But the public sector is a different animal. When Gov. Bev Perdue asks state employees to take 0.5 percent pay cuts, that policy holds for all state employees other than certain cases exempted by the state constitution. And even those come into play, as was the case when almost every District Court judge took a pay cut voluntarily.

The N.C. Banking Commission has asked the N.C. General Assembly to include $200,000 in its budget next year for potential bonuses to its employees. The commission is responsible for overseeing state-chartered banks and mortgage lenders. Its revenue is generated by fees paid by the banking and lending industry — not by taxpayer dollars.

But commission members remain public servants, and the fees they collect are still public money. In the sense of fairness, the legislature should turn down the bonus request. Not only do many of the commission’s employees make between $90,000 and $120,000 a year, they share the same benefits as other state employees and should make occasional sacrifices when times are tough.

Taxpayers have every right to expect high levels of performance from bank commission employees, just as we do from teachers, state troopers and other employees.

Once the economy turns around and salaries are returned to normal, the state can revisit the bonus issue.

But for now, banking commission members should work for salary only. We appreciate their service, but the state simply can’t afford to pay more in these tough economic times.