population over a period of seven years. A large portion of the increase in spending can be traced to
higher pension plan contributions (an increase of about $0.5 million a year), which was the consequence of
substantial investment losses incurred over the last four years.� Based on actuarial calculations, those past
losses will continue to influence the level of pension plan contributions over the next four or five years.
2. Also, part of the increase in spending can be attributed to increased awards in CBA's signed in 2001
(following a pattern set by the BOE contract with teachers also signed in 2001).
3. It would be useful to take a closer look at what can be done to rein in higher-than-average expenditure
increases in the following areas:� Health, Social Service/Park & Recreation; Library; and, Conservation &
Development