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Wednesday, September 24, 2014

Ind. Gov't. - Citizens Energy makes minor adjustments to some top salaries

In this ILB post on August 19th, the ILB talked about the IndyStar's Public Employee Salary Database and how almost all of the 170 highest paid "local government" employees are employees of Citizens Energy:

The Indianapolis Star database is based on the "Certified Report of Names, Addresses, Duties and Compensation of Public Employees (Form 100R) [which] provides taxpayers with compensation information for public employees of state government, state universities, state boards and commissions, and all local units of government." It is a product of the "Certified Report of Names, Addresses, Duties and Compensation of Public Employees (Form 100R) [,which] provides taxpayers with compensation information for public employees of state government, state universities, state boards and commissions, and all local units of government."

But the results of a Star database search today for the 20 highest-paid Indiana public employees show only university and Citizens Energy officials. Interestingly, the county hospital names no longer show up ...

Something else interesting: If you filter the Star database for "local government," and start with highest paid, it is not until the 6th screen of 10 names each that you find anyone other than Citizens Energy: #56 highest paid is Riggs, David T., Marion County Director of Public Safety. If you continue clicking, Citizens Energy names predominate screen after screen, until the 17th screen, where the annual salaries have fallen into the $105,000 range.

Today John Tuohy and John Russell of the Indianapolis Star report (in a story that repeats itself a bit, don't they have proofreaders - oh, right, they don't anymore):
The Citizens Energy board of directors announced Wednesday it will slash the salary of its president by nearly a third until he retires next summer.

President and Chief Executive Officer Carey Lykins will step down July 1, 2015, after 42 years with the utility company. He will be replaced by Jeff Harrison, the senior vice president of engineering sustainability.

Lykins' annual $1.9 million salary will be cut 32 percent, or by $608,000, until he leaves. The wages of 17 other executives will be reduced by 6 percent to 12 percent, said Dan Considine, a spokesman for the utility. * * *

Earlier this year, the Indiana Utility Regulatory Commission reduced the size of a customer rate increase because it said Citizens Energy's executives' salaries were excessive. The utility's request for a 14.7 percent rate hike was chopped to 9 percent for 300,000 water customers.

ILB: Judging from the database results discussed earlier, however, 6-12% cuts for the top 17 executives is just chipping at the tip of the iceberg.

[More] Here is a quote from Jeff Newman in the IBJ's story today:

State regulators scolded Citizens earlier this year for the high level of executive pay at the municipal utility. Utility watchdogs have criticized the compensation for being inappropriate for a not-for-profit charitable trust.

Posted by Marcia Oddi on September 24, 2014 04:19 PM
Posted to Indiana Government