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08/23/07 Minutes |
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GEORGIA WORLD CONGRESS CENTER AUTHORITY
EMPLOYEE COMPENSATION COMMITTEE MEETING
August 23, 2007
_____________________________________________
Committee Members Present:
David Allman
Glenn Hicks, Ex-Officio
Bob Prather, Chair
Committee Members Absent:
Elliott Caudell
Tommy Vance
Legislative Overview Advisor Absent:
Don Balfour
GWCCA Staff Present:
Dan Graveline
Khalil Johnson
Sherrie Spinks
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Chair Bob Prather called the Employee Compensation Committee meeting to order at 12:00 p.m.
2006 Compensation Committee Meeting Minutes
Mr. Prather asked for approval of the minutes of the meeting held August 24, 2006.
Motion to approve the 2006 Compensation Committee meeting minutes as presented was made by Glenn Hicks, seconded by David Allman and unanimously approved.
Key Employee Compensation Incentive Plan
Personnel Changes to Program
GWCC - Jerry Lewis, Director of Engineering, retired October 31, 2006 and will be awarded incentive awards accrued to date. Jim Mastley was hired February 12, 2007 to replace Jerry Lewis and will automatically be eligible to participate in FY 2008. Brenda Neal, Director of Accounting, resigned and will forfeit incentive awards accrued to date. Arlene Charles replaces Brenda Neal and will be eligible for consideration in FY 2008. Jimmy Bowles, GWCC Security Manager, retired April 30, 2007 and will be awarded incentive awards accrued to date. Micshon Anderson was hired June 1, 207 to replace Jimmy Bowles and will be eligible for consideration in FY 2008.
Dome - David Mott, Assistant General Manager of the Georgia Dome, resigned prior to completing his first full year of service, and therefore, does not receive any incentive awards. Will Lofdahl was hired June 1, 2007 to replace David Mott and will be eligible for consideration in FY 2008. Charles Allen, Dome Security Manger, transferred back to GWCC as Police Captain. He will be eligible to receive accrued incentive awards to date so long as he remains in our employ. Mark Cooney was hired May 5, 2007 to replace Charles Allen and will be eligible for consideration in FY 2008. Gail Solomon, Executive Services Manager, resigned April 4, 2007 and forfeits incentive awards accrued to date. Jennifer Le Master was hired April 9, 2007 to replace Gail Solomon and will be eligible for consideration in FY 2008.
Park - Brian Hill, Assistant General Manager, resigned April 1, 2007 and forfeits incentive awards accrued to date. Joe Skopitz was promoted May 1, 2007 to replace Brian Hill and will be eligible for consideration in FY 2008.
Fiscal Year 2006 Review
Over the past fiscal year, the Georgia World Congress Center and Georgia Dome generated a consolidated net operating profit of $21,489,789 before depreciation. Our combined facilities generated approximately $3.0 billion of total economic impact to Georgia’s economy, which resulted in $245.5 million new tax dollars to State and local governments. The Economic Impact Analysis report is developed by The Selig Center for Economic Growth, Terry College of Business, University of Georgia, and is based on data from GWCC attendance statistics fed into an econometric model developed for this industry. This report gives important third party validity to the numbers.
Summary of Consolidated Financial Results - FY 2007 revenue was over forecast by $9,668,937 (9%), expense was over forecast by $938,498 (<1%), and net profit was over forecast by $8,730,439 (68%).
GWCC - Revenue was over forecast by $6,243,986. Operating expenses were over budget by $1,163,917. Actual net profit was $4,755,363 against a forecast loss of $324,706.
Dome - Revenue was over forecast by $3,012,154. Operating expenses were under budget by $268,887. Actual net profit was $16,078,177 against a forecast of $12,797,136.
Park - Revenue was over forecast by $412,797. Operating expenses were over budget by $43,468. Actual net gain was $656,249 against a forecast of $286,920.
Facility Performance Reports
Performance Reports for all three facilities and GWCCA Support Services were sent to Committee members for review. General Managers will present their reports in detail to Authority members at this year’s planning retreat in September.
Economic Impact Analysis
The Economic Impact Analysis, as prepared by The Selig Center for Economic Growth, Terry College of Business, University of Georgia, was sent to Committee members for review.
Executive Director FY 2007 Merit Review
At this time Mr. Graveline explained the breakdown of the five levels included in the MIP worksheets. Mr. Graveline reminded the Committee that two years ago the Committee voted to fund the Executive Director and Chief Operating Officer positions separate from the rest of the incentive pool for future years in order to eliminate the possible negative impact those two positions could have on remaining participants.
Mr. Graveline, Khalil Johnson, Sherrie Spinks, and Dale Aiken were excused from the meeting for Committee deliberations. Upon the return of Mr. Graveline, Mr. Johnson, Ms. Spinks, and Ms. Aiken, Chairman Prather reported the committee unanimously voted to make the following recommendations, which will be brought to the Authority for approval at the next meeting scheduled for August 28, 2007:
1. All employees receive an average four percent (4%) merit increase, with a range of 0-5%.
A motion to approve an average 4% merit increase was made by David Allman, seconded by Glenn Hicks, and unanimously approved.
2. The Committee voted to recommend a five percent (5%) merit increase for Mr. Graveline, effective October 1, 2007.
A motion to approve a 5% merit increase for Mr. Graveline effective October 1, 2007 was made by Glenn Hicks, seconded by Davis Allman, and unanimously approved.
3. The Committee voted to award the overall organization a superior rating, thereby establishing a total compensation pool of $427,913 for the Key Employee Incentive Plan.
A motion to award the overall organization a “superior” rating was made by David Allman, seconded by Glenn Hicks, and unanimously approved.
4. The Committee voted to award Mr. Graveline a superior rating, which awards Mr. Graveline $88,496 spread over three years as his portion of the Key Employee Incentive Plan, and to award Khalil Johnson a superior rating, which awards Mr. Johnson $59,186 spread over three years as his portion of the Key Employee Incentive Plan
A motion to award Mr. Graveline and Mr. Johnson a “superior” rating was made by David Allman, seconded by Glenn Hicks, and unanimously approved.
5. Committee voted to recommend Mr. Graveline receive a 5% salary increase effective January 1, 2008 as a “retention incentive” to partially make up for the years 2002 - 2004 when he received an average of only 1% per year.
A motion to recommend Mr. Graveline receive a 5% salary increase effective January 1, 2008 was made by Glenn Hicks, seconded by David Allman, and unanimously approved.
The Committee noted the entire staff has done a great job over the past year.
Mr. Graveline thanked the committee for their continued support and for recognizing the staff’s hard work.
Motion to adjourn the meeting at 1:00 p.m. was made by Bob Prather, seconded by David Allman, and unanimously approved.
Respectfully submitted:Dale Aiken, Assistant Secretary
Approved:Robert Prather, Jr., Chair
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