A. Subject to the exception provided for in § 15.2-1414.5, the annual salary of each member of the council of any city shall be set by its members by ordinance after a public hearing pursuant to notice in the manner and form provided in §§ 15.2-1426 and 15.2-1427, notwithstanding any contrary provision of law, general or special. The setting of such salaries by members of a council shall include the salary of the mayor or president of the council whether such official is a member of the council or not.
B. Cities within the following population brackets shall be allowed to set salaries for mayors, which include presidents of council, and council members not to exceed the following:
C. The maximum annual salaries provided in subsection B may be adjusted in any year or years, by ordinance as provided in subsection A, by an inflation factor not to exceed five percent.
D. No increase in the salary of a member of a council shall take effect until July 1 after the next regularly scheduled general election of council members.
E. Every proposed increase in the salary of a member of a council shall be adopted at least four months prior to the date of the next municipal election except in the case of a newly created consolidated city when the proposed increase shall be adopted at least two months prior to the date of its first municipal election.
F. Any member of a council shall be eligible to be reimbursed for any personal expenses incurred by him for official business. However, all claims for reimbursement shall be for reasonable expenses to the extent permitted by law incurred in the conduct of official city business and shall be itemized and documented by stamped paid receipts to the extent feasible.
G. In addition to a salary, each member of the council of any city may be compensated with such benefits as are provided city employees by the city.