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Advisory board reviews 2024–25 budget; 4.8% COLA applied, merit tied to new metrics
Summary
North Bay Village advisory board discussed the proposed 2024–25 budget, including a 4.8% COLA for employees, merit increases tied to quantitative and qualitative metrics, and reserve and ARPA balances. Officials said department-level worksheets will accompany the final budget book.
Vice Mayor (speaker 2) presented the budget overview and said the village applied a 4.8% cost-of-living adjustment for employees this year in addition to merit increases determined by new performance metrics. "The COLA that all employees received this year was a 4.8 COLA," he said, adding that merit increases will range from 0% to 4% based on department-specific quantitative and qualitative guidelines.
The vice mayor told the advisory board that senior management and director-level positions will be evaluated within the guideline framework and that merit increases are no longer automatic on anniversary dates. He noted the commission itself will not receive the COLA unless a future charter review amendment permits it. He also outlined reserves and one-time balances: the village reported roughly $1.3 million in unassigned funds, about $1.3 million in ARPA funds that must be categorized by December, and a total fund balance near $20 million. "We have 1,300,000 in the bank for whatever we need," he said.
Board members asked for departmental worksheets to understand line-item changes; the vice mayor said those worksheets will be provided with the budget book and recommended members review them before the budget workshop.
