University President Steven Knapp’s benefits and bonuses last fiscal year dropped by about 43 percent from the previous year, the largest decline since his arrival at GW, according to recently released tax forms.

That decline is the first in two years. Knapp’s total compensation, which includes his salary, decreased by 14 percent to about $1.12 million in fiscal year 2014.

University spokeswoman Candace Smith said in an email that Knapp’s total compensation – which is decided by a committee on the Board of Trustees – decreased “due to changes in amounts reported in benefits, including the income reported as a result of vesting in the restoration retirement plan in the prior year.”

Smith confirmed that the decrease “is not related to performance or to budget cuts.”

Knapp’s base salary totaled $838,879, marking the fifth year of an about 5 percent increase, according to tax forms.

Knapp earned about $1.28 million in fiscal year 2013, the highest amount he’s ever received, and roughly $175,000 more than he earned the following fiscal year. He has historically been one of the most highly compensated presidents in higher education.

His compensation also decreased 21 percent in fiscal year 2012, according to tax forms.