Title
Discuss and consider action approving a Cost of Living Adjustment wage increase for all city personnel.
Summary
Given inflation rates in excess of 8.5%, the rising cost of living in Pflugerville and the surrounding areas, and the desire to recruit and retain a talented workforce in a very competitive market, it is proposed that City Council approve a Cost of Living Adjustment (COLA) to base pay for all city personnel. The table below shows the cost to implement a COLA at either 5% or 7% effective July 3, 2022 through the end of FY22. Due to vacancies and turnover, there are sufficient salary savings within our FY22 operating funds to cover the COLA at either level.
|
|
5% COLA |
7% COLA |
|
General Fund: |
$301,507 |
$422,110 |
|
Water/Wastewater Fund: |
$56,789 |
$79,506 |
Prior City Council Action
N/A
Deadline for City Council Action
Action Requested June 28, 2022
Funding Expected: Revenue __ Expenditure _X_ N/A __
Budgeted Item: Yes __ No _X_ N/A __
Amount: up to $504,665
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A __ Required _X_ Date Completed: 06/22/2022
Supporting documents attached:
N/A
Recommended Action
Approval of a Cost of Living Adjustment wage increase for all city personnel.