University considers upping tuition to fund pay raises
ALBUQUERQUE, N.M. (AP) — University of New Mexico officials say they might need to increase tuition to fund a 4% pay raise for all employees.
The Albuquerque Journal reports state Higher Education Secretary Kate O’Neill sent a letter to universities and colleges across the state, instructing them to give employees a 4% raise.
The board of the University of New Mexico was scheduled to vote Tuesday on a budget that would have bumped up employee pay by 2%.
The board postponed the vote so officials could address the letter.
University president Garnett Stokes told the board that the 4% raise would cost about $16.6 million because of the higher salaries and related benefits.
She says funding the raise would likely require a tuition increase.
Information from: Albuquerque Journal, http://www.abqjournal.com