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Ordinance 18-35 Amending HCC 3.05.005, Budget Assumptions Re: Inflationary Pressures on City Budget
Summary
An Ordinance of the City Council of Homer, Alaska Amending Homer City Code 3.05.005, Budget Assumptions, by Adding a Requirement the City Manager Present the Council with Information on Inflationary Pressures on the City Budget. Lord.
Ordinance/Resolution ID:
18-35
Ordinance/Resolution Status:
Failed
Introduction Date:
06/25/2018
Public Hearing Date:
07/23/2018
Postponed Until:
08/13/2018
Second Reading Date:
08/13/2018
Related Meetings
Details
CITY OF HOMER
HOMER, ALASKA
Lord
ORDINANCE 18-35
AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA AMENDING HOMER CITY CODE 3.05.005, BUDGET ASSUMPTIONS, BY ADDING A REQUIREMENT THE CITY MANAGER PRESENT THE COUNCIL WITH INFORMATION ON INFLATIONARY PRESSURES ON THE CITY BUDGET
WHEREAS, The City of Homer has a stated policy of using external parity as a non-binding guide for salary administration; and
WHEREAS, The forces of inflation increase the cost of living across Alaska over time; and
WHEREAS, The Anchorage Consumer Price Index (CPI) is a measure of inflation, established by the US Bureau of Labor Statistics in 1960 and is one of 27 cities in the country where changes in consumer prices are tracked; and
WHEREAS, The Anchorage CPI is the only consumer price index in Alaska and is treated as the de facto statewide measure of inflation by the public and private sectors; and
WHEREAS, The City of Homer recently completed a Salary Parity Study, finding that our wage scale is mostly on par with other municipalities; and
WHEREAS, It is in the City of Homer’s best interest to implement periodic cost of living adjustments (COLA) to its wage scale, in order to adjust for inflation, offer competitive wages, to attract and retain qualified employees, and ultimately maintain external parity; and
WHEREAS, Providing timely and accurate external information to the City Council on the Anchorage CPI and actions by surrounding municipalities related to inflation aids the Council in evaluating the City Manager’s budget assumptions in terms of regional inflation.
NOW, THEREFORE, The City of Homer Ordains:
Section 1. Homer City Code Section 3.05.005 is amended to read as follows:
By the third Friday in September the City Manager shall present to the Council an overview of preliminary budget assumptions for the next fiscal year of the City. These preliminary assumptions will address, by fund, revenue projections, tax and utility rates, program additions or deletions, wages and benefits, or other issues with potential impact on the City’s overall financial condition.
By the third Friday in September the City Manager shall present to the Council an overview of preliminary budget assumptions for the next fiscal year of the City. These preliminary assumptions will address, by fund, revenue projections, tax and utility rates, program additions or deletions, wages and benefits, inflationary pressure on the city budget or other issues with potential impact on the City’s overall financial condition. The City Manager will include an overview of the previous year Anchorage Consumer Price Index (CPI) as a measure of overall inflation, the Cost of Living Adjustment made by no less than three nearby municipalities in their most recent budget year, and the cost of a Cost of Living Adjustment based on the Anchorage CPI for City of Homer employees, exclusive of the medical portion.
Section 2. This ordinance shall take effect upon its adoption by the Homer City Council.
Section 3. This ordinance is of a permanent and general character and shall be included in the City Code.
ENACTED BY THE CITY COUNCIL OF HOMER, ALASKA, this __ day of ________, 2018.
CITY OF HOMER
__________________________
BRYAN ZAK, MAYOR
ATTEST:
___________________________
MELISSA JACOBSEN, MMC, CITY CLERK
YES:
NO:
ABSTAIN:
ABSENT:
Introduction:
Public Hearing:
Second Reading:
Effective Date:
Reviewed and approved as to form:
__________________________ __________________________
Katie Koester, City Manager Holly Wells, Attorney
Date: _____________________ Date: _____________________