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• 3. Make an interim sala adjustment in 2005 e u rY J q al to the average inflation rate for comparable cities for 2003 and 2004 and add the inflationary rate from the 2005 salary survey data to the 2006 salary adjustment. If we had included the inflation rate for the previous years' salaries in comparable cities, we would have made the following salary adjustments in 2004 and 2005: a) Actual FH salary b) Planned annual adjustment I $60,458 I $65,229 4,771 c) 2003 salary inflation rate 2.$% d) 2004 Inflationary adjustment amount (a x c) 1,511 e) Adjusted 2004 salary (a + d) 61 969 ~ f) 2004 salary inflation rate 4.9% g) 2005 Inflationary adjustment amount (e x f) h) Adjusted 2005 salary (e + b + g) 3 036 69,776 i) Total recommended salary adjustment (d + g) (h - a) 4,547 It will take an additional $4,547 salary adjustment to reach the $69,776 salary that should have been paid effective January 1, 2005, if we want to stay on track to meet the goal of bringing the salary of the City Administrator to 90% of the average salaries for the same position in comparable cities by January 1, 2006. The total recommended salary amount was derived as follows: 2004 salary $60 458 2003 inflation rate for comparable cities 1,511 2005 planned adjustment 4 771 2004 inflation rate for comparable cities 3,036 $69,776 It is understood that there will be an additional cost of $348 FICA and $251 PERA resulting from the recommended $4,547 salary adjustment. For 2005, the average City Administrator's salary for our comparable cities is $85,012. Ninety percent of that average is $76,510. If we amend the 2005 salary to $69,776 and combine it with the planned increase of $4771 and the 4.2% inflation in the comparable salaries in 2005, we should come closer to reaching the goal we adopted in 2003 for January 1, 2006. 3y