The Town of Cochrane has broken out the details of the proposed increase in the wage and benefits for Town CAO Mike Derricott in the 2023 draft budget.
Of the $287,310 budgeted for 2023, $241,245 is for his salary with benefits totalling $54,223.
The town says his salary was $233,087 in 2022.
They also list pre-probation wage periods of $204,508 and $211,685 for 2011.
The town’s Feb. 25, 2022 transparency report states Derricott received a total of $205,277 in pay and benefits.
The transparency report includes all amounts paid to an employee in a year, explains town officials, saying it essentially reflects what they would see on their T4.
This includes salary, taxable benefits, and depending on position, may also include overtime, premium pay, vacation cash out, severance, and other monetary awards.
In the draft budget book, town officials state the salaries and benefits information reflects not only what would be included on a T4, but also the cost of benefits.
They say the comparison of these two figures is not an accurate reflection of compensation changes.