2001 annual report [2001]

Georgia World Congress Center Georgia Dome Centennial Olympic Park

Georgia World Congress Center Authority

2001 Annual Report

Mission Statement

Contents

Director's Report

03

GWCC Revenue & Expense

06

GWCC Bookings & Attendance

08

GWCC Economic Impact

09

GWCC Direct Benefit to Georgia

10

Phase IV Expansion

11

Georgia Dome Revenue & Expense

14

Georgia Dome Event Attendance

16

Georgia Dome Economic Impact

17

Centennial Olympic Park Revenue & Expense 20

Authority Balance Sheet

23

Authority Board of Governors

24

Mission: The State of Georgia established the Georgia World Congress Center Authority to develop and operate the Georgia World Congress Center, the Georgia Dome, Centennial Olympic Park and related facilities. These facilities exist for the primary purpose of promoting and facilitating events and activities that generate economic benefits to the citizens of the State of Georgia and the City of Atlanta as well as enhance the overall quality of life for every Georgian.
Vision: Our vision is to constantly earn our reputation as one of the world's finest convention, sports and entertainment venues. Every day we exemplify our steadfast commitment to excellence in our expertise, efficiency and quality of service. Our vision is to lead our industry through innovation; to operate successfully in an ethical manner; to satisfy our customers' expectations with motivated service-oriented employees; to provide a safe, clean environment; and to foster both the personal and professional growth of our people.
Values: To achieve our vision, we make our customers the focus of all we do. We take pride in providing friendly and courteous service to our guests and customers. We strive constantly to improve productivity and to promote the best interests of the Georgia World Congress Center, the Georgia Dome and Centennial Olympic Park.

1976 - 2001 Twenty-five years in the making

Begun in 1974, construction on the original facility took 18 months.

Director's Report

FiscalYear 2001 marks the Georgia World Congress Center's silver anniversary. This milestone affords a time for reflection as we move into a new era with three facilities that have become the gathering place for millions of conventioneers, sports fans and tourists during the last 25 years.
Since the Georgia World Congress Center opened its doors in 1976, more than 31 million visitors have attended events at the facility creating an economic impact of more than $24 billion and generating nearly $1.32 billion in tax revenue. While these are amazing numbers, they only tell part of the story.
The GWCC has proved to be the economic engine that drives Atlanta's hospitality industry filling up hotels and restaurants year-round. Couple that with our solid operating performance and a dedicated staff and the entire picture emerges thousands of jobs and billions of dollars pumped into Georgia's economy.
We also are fortunate to have the visionary leadership and support of the Georgia General Assembly. They continue to recognize and appreciate the value the convention and hospitality industry offers all residents of our state. During the last 25 years, this recognition has resulted in authorization and funding for

expansions to the facility that were completed in 1985, 1992 and our latest addition Phase IV -- set for completion in summer of 2002. In addition to the growth of the Georgia World Congress Center, we also welcomed the additions of the Georgia Dome in 1992 and Centennial Olympic Park in 1996 to our campus of facilities.
Again this year as has been the case for nearly 20 years the Georgia World Congress Center Authority was able to sustain operations without appropriations from the State. Both the GWCC and Georgia Dome reported operating profits in Fiscal Year 2001, and we generated an economic impact of $2.3 billion, including $153 million in new tax revenues.
During the past 25 years, we have experienced tremendous growth within our facilities and industry, and we have had the privilege to host some of the world's most prestigious events. Our future holds great promise as well. Future bookings in our facilities remain strong, and our Phase IV expansion positions us to meet market demand and future growth.
The following report offers financial details, as well as highlights accomplishments at the Georgia World Congress Center, Georgia Dome and Centennial Olympic Park. We hope you find this report informative, and we look forward to continuing to generate economic benefits for our state in the coming years.
Daniel A. Graveline Executive Director Georgia World Congress Center Authority

02 03

Georgia World Congress Center

Fiscal Year 2001, ending June 30, was another remarkable year for the Georgia World Congress Center. We posted our second-best profit in history, and the facility was the most profitable publicly owned convention center in North America.
We generated operating revenues of $39,983,740, a net gain of $10,515,921, and more than $138 million in new tax revenues.
Construction of Phase IV continued at a healthy pace and remains on schedule for completion in summer of 2002. To date, more than 248 events have been booked in the expansion through 2015.

Our experienced, professional staff sets the industry standard for convention centers around the world. By providing a clean, efficient building along with superior customer service, our customers have recognized the value of holding events at the Georgia World Congress Center, and our facility and reputation have become the envy of our competition.
Again this year, the Georgia World Congress Center Authority continued its record of strong community involvement. Highlights included contributing more than 22,000 pounds of food to Atlanta's Table and earning a Governor's Honors Award for the highest percentage increase for employee participation in the State Charitable Contributions Program.
We posted our
second-best profit in
history, and the facility
was the most profitable
publicly owned
convention center
in North America

04 05

GWCC Revenue Statement

Operating Revenue

Operating Revenue

Other, 8% Hotel/Motel Tax, 10%
Parking, 6% Rent, 36%
Exhibit Utility Services, 18% Food Service, 22%

Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 14,163,710 Food Service . . . . . . . . . . . . . . . . . . . . . . . 8,830,093 Exhibit Utility Services . . . . . . . . . . . . . . . . 7,152,042 Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,485,122 Hotel/Motel Tax . . . . . . . . . . . . . . . . . . . . . 4,124,025 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,228,748 Subtotal . . . . . . . . . . . . . . . . . . . . . . . . .$ 39,983,740
Non-Operating Revenue
Transfers from Reserves . . . . . . . . . . . . .$ 2,281,468 Contributed Equipment . . . . . . . . . . . . . . . 1,406,097 Subtotal . . . . . . . . . . . . . . . . . . . . . . . . $ 3,687,565

Hotel/Motel Tax (ACVB) (1) . . . . . . . . . . . . .$ 9,625,578 Total . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 53,296,883

The Georgia World Congress Center's primary sources of operating revenue continue to be rent, food service and utility services, which combined made up 76 percent of our operating revenue. Building rental remains the largest revenue generator at 36 percent of the facility's total income.
Revenues from food service increased 43 percent from Fiscal Year 2000. Revenue from rent and exhibit utility services were up 8 percent and 9 percent respectively over the prior year.
Operating expenditures were in line with projections. "Other" expense items refers to computers, telecommunications, supplies, equipment leases, travel, printing and other minor expenses.

(1) The City of Atlanta and Fulton County collect a 7 percent Hotel/Motel Tax, which generated $42,780,388 in Fiscal Year 2001. By contract with the City and County, 22.5 percent of the tax, or $9,625,578, is dedicated to the Atlanta Convention & Visitors Bureau.
Revenues from food service increased 43 percent from Fiscal Year 2000. Revenue from rent and
exhibit utility services were up 8 percent and 9 percent
respectively over the prior year.

GWCC Expense Statement
Operating Expense Other, 4% Contracts/Fees, 6% Equipment, 1% Regular Operating, 26% Personal Services, 63%

Operating Expense
Personal Services . . . . . . . . . . . . . . . . . .$ 17,351,481 Regular Operating . . . . . . . . . . . . . . . . . . 7,122,895 Equipment . . . . . . . . . . . . . . . . . . . . . . . . 244,040 Contracts/Fees . . . . . . . . . . . . . . . . . . . . . 1,583,744 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,086,054 Subtotal . . . . . . . . . . . . . . . . . . . .$ 27,388,214

Non-operating Expense

Contribution to Centennial Olympic Park (1) . . . . . . . . . . . . . . . . . .$ Capital Improvements and Projects . . . . . Net Depreciation . . . . . . . . . . . . . . . . . . . Subtotal . . . . . . . . . . . . . . . . . . . .$

1,527,258 2,914,974 1,324,938 5,767,170

Hotel/Motel Tax (ACVB) . . . . . . . . . . . . . .$ 9,625,578 Total . . . . . . . . . . . . . . . . . . . . . .$ 42,780,962 Net Gain . . . . . . . . . . . . . . . . . . . .$ 10,515,921
(1) Contribution to Centennial Olympic Park to assist in funding of next year Operating Expenses.

06 07

Expansions of the facility were completed in 1984 and 1993. Phase IV will be completed in 2002.

GWCC Attendance

With more than 45 major trade shows, conventions and consumer shows plus numerous corporate events, the World Congress Center drew more than 1.3 million guests in Fiscal Year 2001. Of those guests, we estimate 718,697 came from out-of-state. Based upon an average stay of 3.4 days for out-of-state visitors, the Georgia World Congress Center's 2001 Total Daily Attendance came to 3,048,638.
Among the trade shows and conventions with the highest attendance were: SUPERCOMM, International Woodworking Fair, Primerica Life Insurance Co., Networld + Interop and the Bronner Brothers International Beauty Show. The highest-attended public shows included the Festival of Trees (which celebrated its tenth year at the Georgia World Congress Center), Major League Baseball's All Star Fanfest and The Atlanta Journal/ Constitution's International Auto Show.

724,677 . . . . . . . .45 Major Trade Shows & Conventions 330,170 . . . . . . . . . . . . . . .13 Public/Consumer Shows 274,912 . .172 Meetings, Corporate Events and Others* 1,329,759 . . . . . . . . . . . . . . . . . . . .Total Attendance**
* Includes fashion shows, licensing exams, graduations, sports events, concerts and other performing arts productions.
** Includes events that also used Georgia Dome space.
Total Out-of-State Attendance . . . . . . . . . . . . .718,697 Total Daily Attendance . . . . . . . . . . . . . . . . . .3,048,638
Exhibit Hall Days

GWCC Exhibit Hall Bookings

The Georgia World Congress Center measures bookings in terms of Exhibit Hall Days for each of three exhibit hall groupings: ABC, DEF and GH. For our Phase IV expansion opening in 2002, we have added a fourth grouping: JKLM.
One "Exhibit Hall Day" is the equivalent to all space booked in either Halls ABC, Halls DEF or Halls GH for one full day.
"Practical Maximum Bookings" is equivalent to all exhibit hall space booked at capacity for 285 days of the year. This number takes into account national holidays and seasonal slow periods, plus an average loss of three days per month for inherent scheduling gaps between major events.

365

300 285

Practical Maximum

250

200

150

100

50

0

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Halls ABC Halls DEF Halls GH Halls JKLM (Phase IV expansion)

Days Booked

GWCC Estimated Economic Impact

The Georgia World Congress Center is a state authority whose primary mission is to generate economic benefit for the State of Georgia. Economic benefit is created as new dollars brought into the state by attendees, exhibitors and sponsoring organizations are spent and respent.
This year the Georgia World Congress Center Authority commissioned an economic impact study from the Selig Center for Economic Growth in the Terry College of Business at the University of Georgia. Under the direction of Jeffrey Humphreys, this new

study updated the economic formulas the Authority uses to calculate the impact of all its activities for the State of Georgia.
In Fiscal Year 2001, $1.3 billion in "new dollars" was generated from activities at the Georgia World Congress Center. As this money was spent on hotels, automobile rentals, restaurants, retail shops and amusements, it created a total economic impact of $2.1 billion. In addition, GWCC activities produced $818 million in personal income and sustained 32,869 jobs. The facility also added $79 million to the state in new tax revenues and local sales tax of $36 million and Hotel/Motel taxes of $23 million.

GWCC Activity

"New Dollar" Impact . . . . . . . . . . . . . .$ 1,305,040,632

Total Economic Impact . . . . . . . . . . . . . 2,075,367,269

Personal Income . . . . . . . . . . . . . . . . . . 817,696,693

Employment . . . . . . . . . . . . . . . . . . . . .

32,869

Taxes

Georgia Sales . . . . . . . . . . . . . . . . . . .$ Local . . . . . . . . . . . . . . . . . . . . . . . . . . Hotel/Motel . . . . . . . . . . . . . . . . . . . . . . Personal Income/Other . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . .$

48,582,386 36,436,788 23,172,284 30,533,999 138,725,457

08 09

Guests to the facility often enjoy the serene water gardens located in Phase III.

Two-year Economic Summary 2000

2001

"New Dollars" Generated . . . . . .$ 872,642,232 $ 1,305,040,632 Total Impact of "New Dollars" . . . 1,954,718,600 2,075,367,269

Tax Revenues

State . . . . . . . . . . . . . . . . . . . . .$ 72,846,428 $ 79,116,385

Local . . . . . . . . . . . . . . . . . . . . . . 15,149,069

36,436,788

Hotel/Motel . . . . . . . . . . . . . . . . . 15,344,541

23,172,284

Total . . . . . . . . . . . . . . . . . . . . .$ 103,340,038 $ 138,725,457

GWCC Direct Benefit to Georgia
In essence, the Georgia World Congress Center is in the business of "importing" dollars. As a state authority, it's primary objective is to host national and international trade shows and conventions that attract delegates and exhibitors who contribute to the state's economy by spending "new" money. In addition to generating literally hundreds of millions of dollars each year, conventions and exhibition activity supports thousands of jobs in private businesses within the

hospitality industry. This chart goes beyond operational figures
to show the very real return on the state's investment. If you think of the Authority as a company and the citizens of Georgia as the shareholders, everyone can be enthusiastic about the strong performance and return GWCC activities provide in the form of new tax revenues and sustained jobs. This return allows the state to pay its obligations and then use the remaining money at its discretion for projects such as schools, roads, libraries, ect.
This is the real value of the Georgia World Congress Center as an investment by the state.

Net Profit $13.4 Net Profit $37.6 Net Profit $34.2 Net Profit $47.4
Net Profit $23.2 Net Profit $44.3 Net Profit $39.9 Net Profit $44.8 Net Profit $47.1 Net Profit $34.7

Millions

120

115

110

105

100

95

90

85

80

75

70

65

60

55

50

45

40

35

30

25

20

15

10

5

0

FY92

FY93

FY94

FY95

FY96

FY97

FY98

FY99

FY00

FY01

$13.4

$37.6

$34.4

$47.2

$23.2

$44.3

$39.9

$44.8

$47.1

$44.4

Net Profit to State of Georgia in Millions

Total Revenue
Tax Revenue Operating Revenue

Total Expense
Debt Service Expense Operating Expense

Phase IV Update

Construction on Phase IV of the Georgia World Congress Center continues at a steady pace as we move toward grand opening of the new expansion in summer 2002.
Since breaking ground in October 1999, visible progress has been made with more than 45 percent of the facility completed as of the end of June.
To date, more than 248 events have been booked for the new exhibit halls, ballroom and meeting rooms through 2015. SUPERCOMM, one of the Georgia World Congress Center's largest trade shows, will be the first customer to use the expansion's four new exhibit halls even before the entire facility is completed two months later.
The addition of Phase IV will have a lasting effect on Atlanta's convention and meetings industry, allowing the city to remain competitive with major convention destinations worldwide. The expansion will enable Atlanta to host multiple events simultaneously as well as host larger events than it has been able to accommodate in the past.

420,000 gross square feet of contiguous exhibit space divisible into four halls, bringing the total exhibit space for the GWCC to 1.4 million square feet
27,000-square foot ballroom A 3.6-acre landscaped plaza providing an open,
park-like setting between Phase IV and the Georgia Dome. 300 parking spaces will be constructed below the plaza 29 meeting rooms totaling 75,000 square feet, including a fixed-seat auditorium and a tiered lecture hall 1,000-foot entrance concourse with covered bus drop-off Amenities and services including restaurants, banking, business center, transportation, visitor information and a retail store
To date, more than 248 events have been
booked for Phase IV opening in 2002.

2001 Kevin C. Rose

10 11

The Georgia Dome

Fiscal Year 2001 was another win for the Georgia Dome. The Dome generated its highest net profit to date, partially as a result of recent bond refinancing efforts and strict control of operating expenses.
Fan excitement was evident as several annual events posted record-setting attendance. Among these were the Atlanta Football Classic, the Peach Bowl and both the Monster Truck Jam and Supercross series. The Georgia Dome was host to the Atlantic Coast Conference Men's Basketball Tournament as it became the highest-attended conference championship series in history, drawing 141,613 fans during the four-day event. In addition to hosting the 2001 NCAA South Regional Men's Basketball Tournament, we also were awarded the 2004 NCAA Regional Basketball Tournament and 2007 NCAA Final Four Basketball Championship. (The Dome is already scheduled to host next year's Final Four.)

As we prepared for the end of the initial 10-year term for our Executive Member License agreements, our staff mounted an aggressive campaign focused on extending suite and club seat leases. The result our most successful effort since opening in 1992 was 75 percent of suite and club seat licensees extended for future years, and 500 new club seats were sold for multiple year commitments.
The Dome also completed a major renovation of Kicker's Restaurant. The remodeled space now houses the Sideline Grill, a new family-oriented PK's restaurant and a new exterior entrance in anticipation of the opening of Phase IV.

12 13

The ACC Men's Basketball Tournament, which drew record numbers of fans, was among the three major basketball events held in the Georgia Dome this year.

Dome Revenue Statements
Revenue
Rent, 9% Other, 10% Advertising, 4% Food Service, 6% License Fees, 34% Hotel/Motel Tax, 36% Parking, 1%

Operating Revenue
Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 4,196,461 Food Service . . . . . . . . . . . . . . . . . . . . . . . 2,595,024 Parking . . . . . . . . . . . . . . . . . . . . . . . . . . 445,953 License Fees . . . . . . . . . . . . . . . . . . . . . . . 15,642,200 Advertising . . . . . . . . . . . . . . . . . . . . . . . . 2,028,003 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,622,481 Subtotal . . . . . . . . . . . . . . . . . . . . . . . . .$ 28,530,122
Non-operating Revenue
Transfer from Reserves . . . . . . . . . . . . . .$ 799,183 Hotel/Motel Tax(1) . . . . . . . . . . . . . . . . . . . 16,812,673 Contributed Equipment . . . . . . . . . . . . . . 318,456 Subtotal . . . . . . . . . . . . . . . . . . . . . . . . .$ 17,930,312 Total . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 46,460,434
(1) The City of Atlanta and Fulton County collect a 7 percent Hotel/Motel Tax. This amount equaled $42,780,338 in Fiscal Year 2001. The Georgia Dome receives 39.3 percent of that tax or $16,812,673, which is dedicated to Revenue Bond debt service.

While total revenues decreased slightly in Fiscal Year 2001, the Georgia Dome generated its largest operating profit to-date, $10,978,036. This increase was largely a result of recent bond refinancing efforts and strict control of operating expenses. At 34 percent, fees from executive suite and club seat licenses remained our largest source of operating revenue followed by rent and food service.
In 1993, the $214 million Georgia Dome opened as the world's largest cable-supported domed stadium.

Dome Expense Statement
Expenses
Personal Services, 18% Contracts/Projects, 13%
Falcons Contract, 22% Regular Operating, 10% Contracts/Fees/Equipment, 5%
Other, 1% Debt Service, 31%
The Georgia Dome hosted a variety of events in FY2001 including the popular World Wrestling Federation.

Operating Expense
Personal Services . . . . . . . . . . . . . . . . . .$ 6,228,051 Regular Operating . . . . . . . . . . . . . . . . . . 3,568,847 Equipment . . . . . . . . . . . . . . . . . . . . . . . . 153,842 Contracts/Fees . . . . . . . . . . . . . . . . . . . . . 1,829,550 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . 293,300 Subtotal . . . . . . . . . . . . . . . . . . . . . . . . .$ 12,073,590
Non-operating Expense
Debt Service . . . . . . . . . . . . . . . . . . . . . .$ 10,854,470 Falcons Contract . . . . . . . . . . . . . . . . . . . 7,973,491 Contracts/Projects . . . . . . . . . . . . . . . . . . 4,580,847 Subtotal . . . . . . . . . . . . . . . . . . . . . . . . .$ 23,408,808 Total . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 35,482,398
Net Gain (before depreciation) . . . . . . .$ 10,978,036
Net Depreciation Expense . . . . . . . . . . . .$ 8,006,017 (Equipment/building)
Net Gain . . . . . . . . . . . . . . . . . . . . . . .$ 2,972,019

14 15

Georgia Dome Attendance
The Georgia Dome drew approximately 1,374,288 visitors, who generated a total economic impact of $192 million.

In addition to being home to the NFL's Atlanta Falcons, the Georgia Dome hosted a variety of events including concerts, trade shows, high school and collegiate football, basketball, and the World Wrestling Federation. Among the highest attended events were the Atlanta Football Classic, the SFX Monster Truck Jam, the SFX Motor Sports Supercross and the ACC and NCAA Basketball Tournaments, SEC Football and the annual Peach Bowl.
Approximately 260,068 of the 1,374,288 people who attended events in the Dome last year were from out of state. Adding the number of single-day-event attendees to an average 3.4 day stay for out-of-state visitors, the Georgia Dome total daily attendance came to an estimated 1,711,646 for Fiscal Year 2001.
387,807 . . . . . . . . . . . . . . . .10 Atlanta Falcons Games 256,015 . . . . . . . . . . . . . . . . . .7 Other Football Events 185,651 . . . . . . . . . . . . . . . .3 Major Basketball Events 240,197 . . . . . . . . . . . . . . . . . .7 Other Sporting Events 180,225 . . . . . . . . . . . . . . . . . .6 Entertainment Events 124,393 . . . . . . . . . . . . . . . . . . . . . . .29 Other Events* 1,374,288 . . . . . . . . . . . . . . . . . . .Total Attendance**
* Includes conventions, corporate events, meetings and religious assemblies.
** Does not include Georgia World Congress Center events that also used Georgia Dome facilities.

Construction of the Georgia Dome took 26 months and provided a new home for the NFL's Atlanta Falcons.

Georgia Dome Economic Impact

With its diverse line-up of events, 1,374,288 visitors to the Georgia Dome pushed more than $124 million into the economy. Based on the Authority's new Economic Impact study, as that money circulated, it generated a total economic impact of $192 million. In addition, the Georgia Dome added $76 million in personal income, sustained 3,362 jobs and added $8 million to state tax revenues. Local sales taxes were increased by $4 million and Hotel/Motel Tax by $2 million.
Dome Activity
"New Dollar" Impact . . . . . . . . . . . . . . . .$ 124,832,640 Total Economic Impact . . . . . . . . . . . . . . . 192,824,438 Personal Income . . . . . . . . . . . . . . . . . . . . 75,923,241 Employment . . . . . . . . . . . . . . . . . . . . . . . 3,362
Taxes
Georgia Sales . . . . . . . . . . . . . . . . . . . . .$ 5,263,506 Local . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,947,631 Hotel/Motel . . . . . . . . . . . . . . . . . . . . . . . 2,184,571 Personal Income/Other . . . . . . . . . . . . . . . 2,834,993 Total . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 14,230,701

16 17

Two-year Economic Summary

2000*

"New Dollars" Generated . . . . . . . .$ 287,883,549 Total Impact of "New Dollars" . . . . . . .645,659,150 Taxes . . . . . . . . . . . . . . . . . . . . . . . . . .28,156,006
* Includes Super Bowl XXXIV economic impact.

2001
$ 124,832,640 192,824,438 14,230,701

Centennial Olympic Park

Centennial Olympic Park continues to draw millions of visitors to its beautiful, wide-open green spaces and world famous "Fountain of Rings." Many came to enjoy numerous festivals and concerts, while others came to find a peaceful oasis in the heart of downtown Atlanta. Created as the world's gathering place for the 1996 Centennial Olympic Games, the Park continues to serve as a catalyst for economic revitalization in downtown Atlanta.
The Park hosted a wide variety of events during the year. Park programming included numerous events that were free and open to the public. Among these were the hugely popular

On the Bricks concert series, the Fourth of July Celebration and lunchtime concert series. And the Park also served as a unique venue for corporate events, company picnics and weddings.
Two new features were added to Centennial Olympic Park this year the Paralympic Legacy monument and the Vaughn-Jordan Children's Garden and Playground. The Paralympic Legacy monument covers 14,400 square feet honoring the 1996 Atlanta Paralympic Games and the 3,310 athletes from 104 countries who participated. The Vaughn-Jordan Children's Garden and Playground covers 44,100 square feet and features a high-tech rubber safety play surface with modern play equipment divided into an area for toddlers and one for older children.

18 19

Park programming includes numerous events that are free and open to the public.

Centennial Olympic Park Revenue Statement

Created as the world's gathering place for the 1996 Centennial Olympic Games, the Park continues to serve as a catalyst for economic revitalization in downtown Atlanta.

Operating Revenue
Rent, 8% Sponsorship, 32% Exhibit Utility Services, 2%
Other, 9% Food Service, 49%

Operating Revenue

Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ Exhibit Utility Services . . . . . . . . . . . . . . . . Food Service . . . . . . . . . . . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sponsorship . . . . . . . . . . . . . . . . . . . . . . . Subtotal . . . . . . . . . . . . . . . . . . . . . . . . .$

90,497 17,632 540,677 97,637 358,622 1,105,065

Non-Operating Revenue

Transfers from Reserve . . . . . . . . . . . . . .$ GWCC Contribution (1) . . . . . . . . . . . . . . . . Subtotal . . . . . . . . . . . . . . . . . . . . . . . . .$ Total . . . . . . . . . . . . . . . . . . . . . . . . . . . .$

73,859 1,466,342 1,540,201 2,645,266

(1) Contribution from GWCC to assist funding of Operating Expenses.

Centennial Olympic Park Expense Statement

Operating Expense
Other, 1% Contracts/Fees, 22%
Equipment, 1% Regular Operating, 23% Personal Services, 53%
Park programming included numerous events that were free and open to the public. Among these were the hugely popular On the Bricks concert series, the Fourth of July Celebration and lunchtime concert series.

20 21

Operating Expense

Personal Services . . . . . . . . . . . . . . . . . .$ Regular Operating . . . . . . . . . . . . . . . . . . . Equipment . . . . . . . . . . . . . . . . . . . . . . . . Contract/Fees . . . . . . . . . . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . Subtotal . . . . . . . . . . . . . . . . . . . . . . . . .$

1,186,595 522,580 25,069 494,613 24,966
2,253,823

Non-operating Expense

Capital Improvements and Projects . . . . .$ Net Depreciation Expense . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ Net Gain . . . . . . . . . . . . . . . . . . . . . . . . .$

70,749 74,098 2,398,670 246,596

Construction of the Park was funded through private donations and the sale of more than 450,000 commemorative bricks.

Balance Sheet

ASSETS Cash Accounts Receivable Prepaid Expense Inventories Advances to Dome Deferred Charges
FIXED ASSETS Equipment
Land and Buildings
Total Assetts
Liabilities & Fund Balance
LIABILITIES Accounts Payable Debt Service Term Loan/Bonds Payable Interfund Payable
RESERVES Designated Deferred Revenue Investments
Land and Buildings (1)
FUND BALANCE Pre-depreciation
Less Depreciation Expense
Total Liabilities and Fund Balance

GWCC 46,236,919 4,183,381
55,311 423,574 7,079,145

Dome 60,164,505 2,777,918
158,890

552,866,827 (1) 149,562,758 610,845,157 212,664,071

2,012,212

10,870,079
188,615,000 7,079,145

30,585,740 2,180,526 549,850,337

13,220,812 19,557,339 5,974,940

31,014,275 (4,797,933)

26,787,556 (59,440,800)

610,845,157

212,664,071

Park 755,969 264,628 62,900
72,583,322 73,666,819
155,047
919,650 18,428 72,280,560
569,375 (276,241) 73,666,819

(1) $549,705,000 Land & Building (funding provided by State of Georgia general obligation bonds)

Total 107,157,393
7,225,927 277,101 423,574
7,079,145
775,012,907
897,176,047
13,037,338 188,615,000
7,079,145
44,726,202 21,756,293 628,105,837
58,371,206 (64,514,974)
897,176,047

22 23

Since opening in 1976, more than 31 million visitors have attended events at the GWCC campus.

Georgia World Congress Center Authority Board of Governors

Chair Stephen R. Leeds Partner Rogers & Hardin

Vice Chair Bill Archer Executive Vice President Georgia Power Company

Secretary Howard Spiller President & CEO Urban Resources

Treasurer C. Jere Sechler, Jr. Chairman & CEO Eagle Bancshares, Inc.

Elliott R. Caudell President Caudell Realty

Lewis J. Cooper Chairman Cooper Barnett & Page

David G. Kahn President & CEO Kahn & Company, Inc.

Robert S. Prather, Jr. President & CEO Bull Run Corporation

Mark H. Cohen Partner Troutman Sanders, LLP
Richard W. Cohen, M.D. Surgeon Resurgens Orthopaedics

David M. Franklin Chairman & CEO Franklin & Wilson Airport Concessions, Inc.
Glenn Hicks III Managing Director Eagle Bancshares Capital Group

Rubye Mims Lucas Vice President Community Affairs Turner Broadcasting System, Inc.

Monique Walker Chief Operating Officer & General Counsel The Walker Group

William Porter "Billy" Payne Partner Gleacher and Company

Legislative Overview Committee

Chair Senator Jack Hill

Vice Chair Representative Louise McBee

Senator Greg Hecht

Representative Roger C. Byrd

Senator Connie Stokes

Representative Carolyn F. Hugley