City of Oxford employees will receive a 3.56% cost-of-living adjustment in the upcoming fiscal year budget, raising the minimum wage for full-time city employees to $20 per hour if the 2026/2027 budget passes in September. The Board of Aldermen approved the increase as a top priority amid continued budget impacts from Winter Storm Fern. The 3.56% COLA fulfills a goal set by city leadership in 2017 to raise the minimum wage for full-time employees to $20 per hour. “The Board agreed that our top priority was to take care of our employees,” she said. A public hearing and presentation of the full budget will be held at 5 p.m. on Sept. 1 at City Hall during the Board of Aldermen’s regular meeting.