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| Original Formula Canada CPI |
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| New Formula Canada CPI - 2013 B.C. CPI |
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 $21,813 (6.54% increase).Under Original formula (Canada CPI) the Mayor's remuneration will remain at the present 2010 levels ($ 63,466) until 2014 when it will increase to $67,617(6.54%)% increase)
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However the formula for the Council Change in 2013 was to change from November Canada CPI
( .9% increase in Nov.) to B.C. CPI . ( minus 0.2 in Nov.).
Using the B.C. CPI figures (.2% Decrease) the increase in 2014 for Council would be 5.38% compounded. Council Salary of $21,575. Mayor Salary of $66,880.
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The difference in changing ongoing formula from Canada CPI to B.C. CPI for the remuneration levels in 2014 are:
Council 21,813-21,575 = $238. Mayor 67,617-66,880= $737.
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Council Remuneration is being increased from 20,474 where it was in 2010 to 21,575 in 2014 an effective annual raise of $1,101 (5.38% increase)
Mayor's Remuneration is being increased from 63,466 where it was in 2010 to 66,880 in 2014 an effective annual raise of $3,414 (5.38% increase)
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2014 Remuneration Budget for Council Remuneration should be an increase of $3414+ 1101 x 6 = $10,020.


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