All Eddy County employees will get a pay raise in 2024. Here's what we know
A proposed Eddy County budget for the coming fiscal year crafted by the county finance department contains wage increases for county employees.
Eddy County Finance Director Roberta Gonzales presented the proposed budget Tuesday to the Eddy County Board of County Commissioners.
Here is what we know about the proposed pay increases:
Employee spending increases from 2023
A proposed 5 percent pay increase is based on a cost-of-living adjustment (COLA) from 2023 to 2024, Eddy County Finance Director Roberta Gonzales said.
Housing affordability, transportation expenses, food prices and entertainment costs are considered in a COLA mark up, according to Nerd Wallet’s website.
More:Eddy County oil and gas tax collections exceed budgeted expectations in 2023
Gonzales said Eddy County anticipates the county will spend $51.2 million during 2024 for personnel expenses, an increase of $5.4 million from 2023.
She said all county employees would see an increase in pay next year, based on the preliminary budget.
Select county employees would see additional pay increases
The proposed budget includes step increases for 73 Eddy County employees.
She said county employees are part of a 13-step pay schedule. Pay increases occur at the first step and end at the 13th step, which is the highest grade.
Those eligible employee positions were not identified in the proposed budget.
Budget process continues through June
Gonzales presented the Commission with the proposed changes Tuesday, a first step which allows commissioners to offer input on the proposed spending plan for the 2024 budget.
More:Eddy County projects revenue windfall for 2024 based on past tax collections
Gonzales hopes for interim approval by county commissioners in April. The New Mexico Department of Finance and Administration (DFA) need the interim budget by June 1 for official approval.
After DFA approval, Gonzales said the budget is then implemented on July 1 for all county department heads and employees.
Mike Smith can be reached at 575-628-5546 or by email at MSmith@currentargus.com or @ArgusMichae on Twitter.
This article originally appeared on Carlsbad Current-Argus: Eddy County proposes 2024 pay increase for employees
