A. An employee’s rate of pay may advance within a pay range as the result of a cost of living adjustment (COLA), a step increase, or a combination of the two, subject to the remainder of this section.

B. The city may apply a COLA based on the Anchorage Consumer Price Index to each pay range, effective as of July 1 of a fiscal year.

C. The city may advance an employee’s rate of pay annually by one step in the pay range, based upon a not less than satisfactory performance evaluation. An employee whose performance evaluation is less than satisfactory is not eligible for a step increase.

D. The city’s awarding of each COLA or step increase is discretionary and subject to the availability of funds. No COLA or step increase shall cause an employee’s rate of pay to exceed the maximum for the employee’s pay range. (Ord. 09-44 § 4, 2009)