Saturday, August 22, 2015

The August 2014 CPI for B.C. of a 1.4% increase was applied on Dec 1, 2014 to the Councillors and Mayor's base rate.

The August 2014 CPI for Canada of 2.1% was used Jan 1, 2015 in relationship to the Facilities agreement contract for the GVAC Members.

Note than from 2011-2014(and to date 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.

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  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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