The University of Florida's Board of Trustees has unanimously approved a historic allocation of $25 million from overhead cost savings to create merit raise pools for faculty and staff, marking the largest raise in two decades. Specifically, out-of-unit faculty will receive a 4% raise, while staff will receive a 3.75% raise. Additionally, a one-time bonus of $10,000 will be awarded to faculty rated as 'exceeds expectations' during post-tenure reviews. Interim President Kent Fuchs emphasized the importance of recognizing faculty and staff contributions, stating that the raises and bonuses reflect the university's commitment to its employees. The raise pools and bonuses will take effect on October 1, although faculty in unions will need to negotiate their raises separately. Board Chair Mori Hosseini also advocated for expedited projects aimed at improving childcare facilities for university employees.