B.C. CPI vs Canada CPI. (Council to get first raise in pay since 2010 on Jan 1 2014)

Original Remuneration Projection

CPI - B.C.  vs  Canada Updated to June 2013

 Don Quixote Note:

• Under Original  formula using(Canada CPI) the Council remuneration will remain at the present 2010 levels ($ 20,474) until 2014 when it will increase to $22,184 (8.352% increase) (2013 CPI assumed at 2%)
•  Under Present formula (Canada CPI) the Mayor's remuneration will remain at the present 2010 levels ($ 63,466) until 2014 when it will increase to $68,767 (8.352% increase)(2013 CPI assumed at 2%)

However the formula for the Council Change in 2013 was to change from Canada CPI (Presently at 1.2% increase in June) to B.C. CPI .  (Presently at a minus 0.5 in June).

• Using the June Canada CPI figures (1.2% Increase) the increase in 2014 for Council would be 5.0112% compounded. Council Salary of $21,500. Mayor Salary of  $66,710.
• Using the B.C. CPI figures (.5%  Decrease) the increase in 2014 for Council would be 4.126% compounded. Council Salary of $21,318. Mayor Salary of  $66,084.

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The November CPI for B.C. will be used to adjust Council and Mayor pay effective Jan. 1 2014.

Comparison of using Canada CPI vs B.C. CPI on Councillors Remuneration:
Effect of Canada CPI on Council Salary to end of 2013 if Canada CPI Used Entirely (5.0112%):  $21,500
Effect of B.C. CPI on Council Salary to end of 2013 if B.C.had been Used Entirely (2.932%):  $21,074 
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Effect of Canada CPI on a $75,000 Salary from 2010 to 2013 end:  $78,758
 Effect of B.C.      CPI on a $75,000 Salary from 2010 to 2013 end:  $77,199