Colorado Springs Utilities CEO Jerry Forte will be rewarded with a bonus for what amounts to a glowing report card for his on-the-job performance in 2012.

Colorado Springs City Council, acting as the Utilities Board, signed off on Forte’s annual and long-term bonuses Wednesday, based on a cumulative rating of 4.1 on his annual performance plan, and 3.2 on his long-term plan on a 1-5 scale. It translates to a rating of “exceeds expectations” on the annual plan, and “meets expectations” on the long-term plan.

“It really reflects the fact that we have an outstanding utility, and that reflects the leadership” Board President Scott Hente said.

The bonus amounts still have to be determined in line with his contract, Utilities spokeswoman Patrice Lehermeier said. Last year, Forte received an annual bonus of about $31,550 and a long-term award of about $30,165, on top of his annual base salary of $276,750 — an amount that hasn’t changed since 2007.

The long-term payout goes into a supplemental retirement account.

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Each December, the board establishes the elements of the performance plan, then monitors Forte’s performance through the year. At the end of the year, he gets a final report card that calculates his performance on a variety of weighted measures, including disruptions in water service, cash-on-hand and treatment of staff.

“It’s a compilation of all board members’ scores on each of those topics as they occur throughout the year,” said Sherri Newell Wilkinson, chief public affairs officer for Utilities.

On 15 key measures in his annual plan, Forte received seven scores that translated into “superior performance,” three that exceeded expectations and five that met expectations. In the long-term evaluation, however, Forte received scores that “failed expectations” on two measures, including the Electric Customer Average Interruption Duration Index, and “improvement necessary” on two other measures, including “Economic Development Price Competitiveness.” He got three superior ratings, four “meets expectations” and two “exceeds expectations.”

One positive development that occurred under Forte’s watch last year was restoration of Utilities’ Aa2 Stable bond rating from Moody’s. The rating, equivalent to a private borrower’s credit score, indicates that Utilities has a strong ability to repay debts. The high bond rating can result in lower interest rates for borrowers.

“I think Colorado Springs Utilities has done a great job. They fought to get that Moody’s rating back to stable,” said Councilwoman Brandy Williams. “I wouldn’t call it easy to get us back to stable.”

During the discussion, Councilwoman and board member Angela Dougan questioned the payout plan for Forte and said it is something the new council should review after the April 2 election.

“I feel there’s a need to look at this process,” she said. “The citizens have concerns, and I do, too.”

But Dougan did not vote on whether to approve Forte’s performance plans. She had left the meeting briefly, for a bathroom break, she said, and wasn’t at the table when the vote was taken. It passed 6-0.

The full report on Forte’s performance plan is online at http://bit.ly/Zerqy3.

Photo by THE GAZETTE FILE

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