Money

University of Northern Colorado preps for new minimum wage

GREELEY, Colo. - The University of Northern Colorado is bracing to pay nearly 1,500 students a $1-per-hour raise next week thanks to voters approving a new state minimum wage.

The Tribune of Greeley reports that the university expects a $75,000 increase in wage expenses from January to June when the minimum wage makes its first jump toward $12 by increasing from $8.31 an hour to $9.30 an hour.

UNC officials say when the wage increases again to $10.21 an hour the next year, they expect to pay $251,000 more toward wages. When the minimum wage increases to $11.10 it is expected to have a $371,000 impact.

UNC Human Resources Director Marshall Parks says the planned increases are good for planning budgets but that staffing levels could change as the minimums increase.

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Information from: The Tribune of Greeley, Co, http://greeleytribune.com


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