ACTION Apartment Association - EMPLOYEE UNION AGREEMENTS HOLD SALARY INCREASES AT OR BELOW THE COST OF LIVING ADJUSTMENT OF 1.7% ANNUALLY

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EMPLOYEE UNION AGREEMENTS HOLD SALARY INCREASES AT OR BELOW THE COST OF LIVING ADJUSTMENT OF 1.7% ANNUALLY

EMPLOYEE UNION AGREEMENTS HOLD SALARY INCREASES AT OR BELOW THE COST OF LIVING ADJUSTMENT OF 1.7% ANNUALLY

08/10/2017 2:00 PM | Margaret Fulton (Administrator)

On August 8, 2017, the Santa Monica City Council authorized City Manager Rick Cole to execute seven employee union agreements representing the largest percentage of municipal employees. Overall, the agreements limit annual salary increases to 1.5 to 1.7%, which is equal to or below the region’s Consumer Price Index increase of 1.7% (as of January 2017). The net increase over the two or three year term of the contracts range from 3.5 to 4.7%. The total cost of the negotiated changes is approximately $2,842,088 for FY 2017-18. The budget impact of these changes was included in the General Fund FY 2017-18 through FY 2021-22 Five-Year Financial Forecast.