McMinnville employees could receive a 2.3 percent boost to their paychecks for fiscal year 2018-19.
“The South Region Consumer Price Index put out by the federal government is 2.3 percent,” said Alderman Everett Brock. “The overall price index was 2.4 percent for the whole country. We then went back and looked at all the cities that we could get hold of and they range from 2 percent and 4 percent. The majority being around 2.3 and 2.4 percent.”
The information was presented Tuesday night to members of the city Finance Committee in order to include that adjustment when directors generate their proposed budget for the upcoming fiscal year.
Before the decision was made, Brock offered what a 2.5 percent increase would mean in departmental budgets and, by average, what employees would receive.
“If you pick 2.5 percent, it’s going add $36.47 per pay period to the average officer on the police force. It will be a yearly increase to the department of around $50,000. If you go down to fire department, you can see it would cost the department around $30,000. Each average employee, each payday, would receive an additional $28.69.”
Alderman Ryle Chastain said, “Anywhere between 2 and 3 percent is a standard number. Maybe split that and do 2.5 percent.”
“I’m thinking 2 percent would be good,” said Alderman Ben Newman.
Brock stated, “Somewhere between 2 and 3 percent is what I’m looking at. If you have a real thing about 2, I don’t have a problem with it. I would prefer 2.5 percent.”
Employees received a combined 3 percent last year, a 1 percent cost of living adjustment (COLA) and a 2 percent step raise.
The committee ended a 15-minute discussion by tying this year’s COLA to the South Region Consumer Price Index of 2.3 percent.