{"id":1994,"date":"2022-08-01T17:59:59","date_gmt":"2022-08-01T23:59:59","guid":{"rendered":"https:\/\/infohub.austincc.edu\/shared-governance\/?p=1994"},"modified":"2022-08-22T10:23:02","modified_gmt":"2022-08-22T16:23:02","slug":"acc-trustees-approve-fy23-budget-new-compensation-package","status":"publish","type":"post","link":"https:\/\/infohub.austincc.edu\/shared-governance\/blog\/2022\/08\/01\/acc-trustees-approve-fy23-budget-new-compensation-package\/","title":{"rendered":"ACC Trustees Approve FY23 Budget & New Compensation Package"},"content":{"rendered":"\n

$467 million budget includes supporting new buildings and largest compensation package in college history<\/em><\/strong><\/p>\n\n\n\n

Austin Community College District (ACC) Board of Trustees approved a $467 million budget for fiscal year 2022\/23, during its regular board meeting, Monday, August 1.<\/p>\n\n\n\n

The balanced budget includes raises for all employees and funds the operations of new facilities, like the Rio Grande Campus main building and Highland Campus, new childcare facilities, and a new chiller plant at ACC Highland Campus.<\/p>\n\n\n\n

\u201cOn behalf of the ACC Board of Trustees, I want to recognize the Faculty, staff, and administration for their work on the F2023 budget,\u201d says Dr. Nan McRaven, Chair of ACC Board. “We listened to employees, students, and the community to understand the challenges, needs, and opportunities for our students and the ACC family. As a board, we have a fiscal and social responsibility to ensure employees feel valued and appreciated and our students and community feel confident that we are spending taxpayer dollars wisely. The Board of Trustees voted the biggest compensation package in the history of the College and at the same time authorized funding for new and innovative programs to meet the workforce needs of Central Texas.”<\/p>\n\n\n\n

ACC\u2019s budget is made up of three revenue streams: property taxes \u2014 which generate approximately 67% of the district\u2019s total revenue \u2014 and tuition and fees and state funding \u2014 which, combined, generate 30% of the budget. Another 3% of the budget comes from other small sources of revenue. In April, the board voted to maintain in-district tuition rates for the ninth consecutive year<\/a>.<\/p>\n\n\n\n

Raises for all ACC employees in Compensation Package<\/strong><\/p>\n\n\n\n

The FY23 budget includes the college\u2019s largest compensation package to date\u2013\u2013 approximately $20.8 million. It\u2019s roughly double the compensation package in the college\u2019s FY 2022 budget. The package provides all employees a raise, with the lowest paid employees receiving the largest percentage increase.<\/p>\n\n\n\n

\u201cWe want to make it clear, that ACC cares about its faculty, staff, and the students we serve. We have tremendously talented employees who love working at the college, and we want to do everything in our power to retain that talent,\u201d says Dr. Richard Rhodes, ACC chancellor. \u201cWe know this will be a multi-pronged approach. The college will continue to identify other avenues to support our employees.\u201d<\/p>\n\n\n\n

The compensation structure is as follows:<\/p>\n\n\n\n

Current Compensation<\/td>Average Wage Increase <\/td><\/tr>
Minimum Wage<\/td>28% Increase (From $15.60\/hour to $20\/hour)<\/td><\/tr>
Under $50,000\/year<\/td>10+% Increase<\/td><\/tr>
$50,000 \u2013 $99,999\/year<\/td>10-5% Increase<\/td><\/tr>
$100,000-$199,999+\/year<\/td>5% Increase<\/td><\/tr>
$200,000+\/year<\/td>3.7%-4.4% Increase ($10,000 cap)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Full-time employees also will receive an additional one-time payment to help provide immediate financial support. Part-time staff will receive a pro-rated one-time payment. The structure is as follows:<\/p>\n\n\n\n

Compensation as of Sept. 1<\/td>Additional One-Time Payment <\/td><\/tr>
Under $50,000\/year<\/td>$1,000<\/td><\/tr>
$50,000 \u2013 $74,999\/year<\/td>$900<\/td><\/tr>
$75,000 – $99,999\/year<\/td>$800<\/td><\/tr>
$100,000 – $124,999\/year<\/td>$600<\/td><\/tr>
$125,000 – $149,999\/year<\/td>$500<\/td><\/tr>
$150,000+\/year<\/td>None<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Adjunct faculty and hourly employees also will receive an additional one-time payment to help provide immediate financial support. The structure is as follows:<\/p>\n\n\n\n

Employee Group<\/td>Additional One-Time Payment <\/td><\/tr>
Adjunct Teaching 3+ Courses\/Semester<\/td>$1,200<\/td><\/tr>
Adjunct Teaching 2 or Fewer Courses\/Semester<\/td>$500<\/td><\/tr>
Hourly Employees (At ACC 6+ months)<\/td>$250<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

The new budget cycle begins on September 1, 2022<\/strong>.  <\/p>\n\n\n\n

View recordings from the meeting<\/em> <\/strong><\/a>here<\/em><\/strong><\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

$467 million budget includes supporting new buildings and largest compensation package in college history Austin Community College District (ACC) Board of Trustees approved a $467 million budget for fiscal year 2022\/23, during its regular board meeting, Monday, August 1. The balanced budget includes raises for all employees and funds the operations of new facilities, like […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4],"tags":[15,82,83],"class_list":["post-1994","post","type-post","status-publish","format-standard","hentry","category-happening-now","tag-board-of-trustees","tag-budget","tag-compensation","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/posts\/1994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/comments?post=1994"}],"version-history":[{"count":0,"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/posts\/1994\/revisions"}],"wp:attachment":[{"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/media?parent=1994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/categories?post=1994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/tags?post=1994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}