REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
title
Action on the Santa Clara Stadium Authority (SCSA) Auditor Appointment (Stadium Authority)
Report
BACKGROUND
On June 15, 2016, the Santa Clara County Civil Grand Jury issued a report entitled "The City of Santa Clara, The Santa Clara Stadium Authority, Levi's Stadium and Measure J" that included a recommendation to "modify the duties of the Finance Director/Treasurer/Auditor position as described in the Joint Exercise of Powers Agreement Establishing the Santa Clara Stadium Authority (JPA) Agreement". The SCSA Board accepted the recommendation.
On June 27, 2017, the City Council acting on behalf of the City, the Successor Agency and Bayshore North Project Enhancement Authority, approved the Third Amendment to the Joint Exercise of Powers Agreement (Amended JPA Agreement), amending Section 3.11, Treasurer and Auditor, to separate duties of the Stadium Finance Director/Treasurer/Auditor function into two positions - Stadium Authority Treasurer and Stadium Authority Auditor. Per the Amended JPA Agreement, the Auditor of the Stadium Authority shall be designated by appointment and/or by contract by the Stadium Authority Board. The Stadium Authority Board appointed Auditor's sole duty is to "designate such independent auditing responsibility as it deems necessary including but not limited to making arrangements with a certified public accountant or firm of certified public accountants for the annual independent audit of accounts and records of the Stadium Authority." This means that there is a minimum set of actions required for the Auditor, e.g., fiscal audits, and there is authority to perform additional reviews as deemed needed. Additionally, the JPA provides that the records and the accounts of the Stadium Authority shall be audited annually by an independent certified public accountant (CPA) designated by the Executive Director (Section 6.2 Audit).
DISCUSSION
At the March 19, 2018 Stadium Authority Ad-Hoc Audit...
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