Stephanson Nails $400,000 Salary For Top City Post

“A salary within the City Manager pay band that has a maximum of $392,655.90 (2022 rates), to be adjusted in accordance with any economic increases … , with annual adjustments …”

She may not be receiving the full $393K salary. The motion says she will be in a pay band that maxes out at that amount but it doesn’t say where she’ll be on the grid. She will be getting an upward adjustment when the 2023 rates are set and that will be backdated to September 1, the effective date of her appointment.

It would be interesting to know what her salary was as City Treasurer which would show how much of an advance the new job is giving her. The 2022 Sunshine List shows her salary as $293,921.18 plus benefits and allowances. Depending on where she falls within her new pay grid, she may have just seen her salary increase by up to $100.000. That 2022 amount would also include about a month as City Manager and eleven months as CFO so her actual CFO pay level is probably lower than that $294K figure.

Steve K clocked in at $357,113.43 for 2022 which would be an annual figure of $390K but that could include some or all of a severance package so the figures may not be directly comparable. When the 2023 List comes out, it will be only show further payments to him if they are in excess of $100K.