Kelly - if you have enough compost, it can do double duty. Mulch - not sure what type you're using. If shredded leaves put down in the spring when you plant your raised bed, it will break down and encourage earthworm activity but not as nutrient-rich as compost. If wood mulch, better not to dig that into the soil. Theoretically, you would have to pull the wood mulch aside, add a layer of compost, and then recover with the mulch.
