A dollar figure has finally been attached to the performance-based bonuses that were approved March 20 for Colorado Springs Utilities CEO Jerry Forte. He’ll receive about $34,594 based on the results of his annual performance plan, and about $24,908 tied to the results of his long-term performance plan.

The payout on the annual plan will be made April 19. On the same day, the long-term bonus will be deposited into his supplemental executive retirement account.

Colorado Springs City Council, acting as the Utilities Board, OK’d Forte’s annual and long-term bonuses 12 days ago, based on a cumulative rating of 4.1 on his annual performance plan, and 3.2 on his long-term plan. Both are measured on a 1-5 scale.

But it took several weeks for Colorado Springs Utilities Human Resources to calculate the bonus amounts because they’re based on a formula in the CEO’s employment agreement.

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 board establishes the elements of Forte’s performance plan every December, then monitors his performance through the year. He receives an end-of-the-year report card that evaluates him on a variety of weighted measures.

Jerry Forte Photo by