Earlier today, Academic Council became aware of new information concerning the most recent cost of living increase data for 2000 which become available to the public in the past few days. The current data lists the cost of living increase at 3.4%. The older data used in preparing Council’s December 15, 2000 Faculty Budget Priorities for 2001-2002 indicated a 2.75% increase in cost of living.
Therefore, Academic Council would like to amend the earlier budget priorities to reflect the current data. Specifically, Council would like to change its recommendation in paragraph nine of the December 15, 2000 Faculty Budget Priorities for 2001 – 2002 to read as follows.
“ … Council recommends a salary increase of 6.65 % for the 2001-2002 academic year (3.4% for inflation and 3.25% for merit).”
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