Wednesday, August 24, 2016

July 2016 CPI

The August 2015 CPI for B.C. of a 1.2% increase was used on Dec 1, 2015 to increase the Councillors and Mayor's base rate.

The August 2015 CPI for Canada of 1.3% was used Jan 1, 2016 in relationship to the Facilities agreement contract for GVAC Members.

The Dec 2015 CPI for B.C of 1.9% was used to increase the Directors Stipend at RDNO as well as Committee Pay (From $147/meeting to $150.)

Note than from 2011-2014(and to end of August in 2015) The B.C. CPI yearly average has been less than Canada CPI. ON a monthly basis the same ratio has applied when the comparison is made between the two indexes. For the First Time since 2010 the BC CPI is higher than the Canada CPI in September 2015 to and including July of 2016

The Vernon Council in July of 2015 agreed (6-1) to change the cap on the operational budget tax increase from the Canada CPI for August each year (1.3 for Aug. CPI) to a 1.8% Cap for the years 2016, 2017 & 2018. This was a change to the Council's strategic Plan (2015-2018). 'Operational budget not to rise faster than inflation (Canadian CPI, all goods in, August to August year over year)'

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