The salary of CAO Richard Butts has risen more than 12% compared with the same period a year ago according to a staff report to the November 18 Audit & Finance Committee meeting.
His earnings have increased more than 3 times faster than inflation.
http://www.halifax.ca/boardscom/SCfinance/documents/151118afsc911.pdf
see page 30 Attachment #2
................................. Butts pay.........% increase.........Inflation % (Halifax)
2011/2012 .............. 289,000 ........................................3.6
2012/2013 .............. 309,000............. 6.9 ..................... 1.7
2013/2014 .............. 322,000 ............ 4.5 ..................... 1.1
2013/2015 .............. 343,000 ............ 6.5 ..................... 1.8
2015/2016 .............. 364,000 ............ 6.1
source : HRM Consolidated Financial Statements
In addition, HRM finance staff are projecting a $1.7 million operating deficit for 2015/16 following two consecutive deficits totalling $12 million.
A multi year slump in real estate sales is responsible for the steady decline in Deed Transfer Tax revenue. In the first 6 months of 2015/16 DTT was $18,834,477 down 3.7% from the same period in 20145/15 and down 21% from the same period in 2012/13 when DTT was $23,860,017.
HRM is budgeting $32,000,00 DTT revenue for 2015/16 down from $36,000,000 budgeted in 2014/15
source :
http://www.halifax.ca/boardscom/SCfinance/documents/151118afsc911.pdf (Attachment #1).
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