Austin Community College District (ACC) Board of Trustees approved a $491 million budget for fiscal year 2023-24 during its regular board meeting Monday, July 24. <\/p>\n
The budget represents a 5 percent increase over the 2022-23 budget. The balanced budget includes funds for the operations of new facilities, support for the Workday Student Information System implementation, pathways to restore cash reserves, and raises for all employees.<\/p>\n
The compensation package raises all employees, with the lowest-paid employees receiving the largest percentage increase. Trustees approved raising the minimum wage to $22 an hour, a $4,160 or 6% raise for full-time employees, depending on which is higher for the employee, and an additional week’s pay per fall and spring semester for all adjunct faculty. <\/p>\n
“I take immense pride in the ability of the ACC Board to unanimously endorse a well-balanced budget that addresses the needs of our students while ensuring competitive compensation for our valued staff.”,” says Dr. Barbara Mink, Chair of the ACC Board of Trustees.<\/p>\n
ACC\u2019s budget comprises three revenue streams: property taxes, which generate approximately 68% of the district\u2019s total revenue; tuition and fees make up 14.4%; and state funding makes up 13.8%. The remaining 3.9% of the budget comes from other small sources of revenue. <\/p>\n
The board voted to maintain in-district tuition rates for the tenth consecutive year in April. <\/a><\/p>\n The new budget cycle begins September 1. <\/p>\n","protected":false},"excerpt":{"rendered":" Austin Community College District (ACC) Board of Trustees approved a $491 million budget for fiscal year 2023-24 during its regular board meeting Monday, July 24. The budget represents a 5 percent increase over the 2022-23 … Continue reading