At a regular Austin Community College board of trustees meeting Aug. 1, the board unanimously approved the new budget that features the largest compensation package in the college’s history.

The new budget, which will be implemented Sept. 1, is $467 million and will fund the building of new facilities. In addition, the new compensation package, which is about double the FY 2021-22 compensation package, is $20.8 million and will provide all employees with a raise. The budget is balanced and will not affect tuition or tax rates.

The minimum wage at the community college will have a 28% increase from $15.60 an hour to $20 an hour. Employees who make less than $50,000 a year will get a minimum 10% raise. Those making $50,000-$99,999 will get a raise between 5%-10%. Employees making $100,000-$199,999 a year will receive a 5% increase in pay. Employees making over $200,000 will get a 3.7%-4.4% raise with a cap at $10,000.

Full-time employees, in addition to their pay increase, will get a one-time immediate payment for financial support. Part-time staff will get a prorated one-time payment. The amount of these additional one-time payments ranges from $500-$1,000 with those making less than $50,000 a year receiving the most money. Those making over $150,000 will not receive this one-time payment.

Hourly and adjunct employees will also receive one-time payments based on their time spent at ACC or the amount of courses they teach. Hourly employees who have worked at ACC for six or more months will receive $250. Adjunct professors teaching two or fewer courses will receive $500, and those who teach three or more courses will get $1,200.

“The rising cost of living is hitting everyone differently, whether you rent or own and drive or take public transportation. ACC’s administration is working as transparently as we can while trying to help as many employees as we can,” said Neil Vickers, ACC executive vice chancellor of business and administration, in a press release. “ACC’s administration will continue to keep its focus on supporting employees and work on future plans. It is going to be a multipronged approach to help as many employees in as many ways as we can.”