Upcoming Authority Meeting Memo

MEMORANDUM

TO: Georgia World Congress Center Authority

FROM: Dan Graveline

DATE: 20 May 2008

SUBJECT: Authority Meeting
Tuesday, May 27, 2008

Our Authority meeting scheduled for Tuesday, May 27, at 12:00 noon will be held in the Authority Board Room. Enclosed for your prior review are the following:

• Tentative Agenda

• Minutes from the April Authority Meeting (ACTION ITEM)

• April Financial Reports

• Fiscal Year 2009 Final Budget Recommendations: (ACTION ITEM)

A. GWCC: Budget forecasts an operating deficit of ($794,011). We hope to improve on that forecast as the year progresses much like has been the case for current 2008 fiscal year. If this does not occur, we continue to have $2,600,000 in operating reeserves to offset any year-end deficit.

B. Georgia Dome: Even with a project expense of $7.5 million for new video boards, the Dome budget forecasts a net profit before depreciation of $9,296,119. Revenue projections have been reduced as we anticipate soft attendance for the upcoming Falcons season.

C. Park: Overall the Park budget is essentially the same as forecast last August and projects a modest $14,152 net gain for FY09.

We look forward to seeing you next Tuesday. In the meantime, please do not hesitate to call should you have questions.

Have a Happy and Safe Memorial Day Weekend!

/da

Enclosures

Copy to: GWCCA Legislative Overview Committee
Pargen Robertson