NORD uses 2.5% inflation factor in Budget (52% higher than required !)

Annual inflation rate falls to 1.2% in January (Tell that to GVSC)

At the above posting I noted that GVSC had used a 2.5% inflation rate instead of the actual Bank of Canada rate of 1.64%. (http://www.bankofcanada.ca/en/rates/inflation_calc.html). I wondered what rate Coldstream and NORD were using.

NORD is using the same 2.5% rate. CFO Alan Harris uses this rate in a report on 'Current Committee Pay Structure' dated Feb. 12/07 and presented last night at the NORD finance meeting.

The report indicates the effect of this COLA amount on all the salaries and fees in the NORD Committee Structure when the COLA amount is calculated. (They also seem to have a tendency to round up to the nearest dollar as when Committee Meetings are adjusted from $100 per meeting to $103. Amount s/b $102.50 at their COLA rate and only $101.64 at the Bank of Canada rate).

I'm sure they have used the 2.5% rate throughout the entire NORD Budget. This is 52.4% higher than it should be.

The City of Vernon used the correct rate. Why can't NORD and GVSC?