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City Finance Warns of Rising Benefits Costs; Recommends 2.73% COLA for Payroll Budget
Summary
Rexburg's CFO recommended a 2.73% cost‑of‑living adjustment for payroll budgeting and warned of possible large health‑insurance premium increases — staff modelled up to 42% for medical — that would require notable employer and employee contribution increases.
Rexburg's treasurer and CFO, Matt Nielsen, told the council the recommended payroll budgeting approach would use a 2.73% COLA (West Region CPI Jan–Jan), which equates to roughly $344,000 in additional wage cost citywide and about $205,000 in the general fund. He asked council permission to proceed with payroll budgeting using that figure.
More consequentially, Nielsen said the city's health…
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