REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Action on Bills and Claims for the month of October 2018 (Stadium Authority)
Report
BACKGROUND
Disbursements made by the Stadium Authority are based on invoices submitted for payment. Prior to payment, staff reviews all disbursement documents to ensure that they are in compliance with the goods or services provided.
The Bills and Claims listing represents the cash disbursements required of normal and usual operations during the period. Budget control is set by the Stadium Authority Board through the budget adoption process.
DISCUSSION
Significant expenditures in this time period include:
* Payment to Stadium Funding Trust in the amount of $6,756,660 for six months of interest on the Term A fixed rate debt.
* Payment to Forty Niners Stadium Management Co. (ManagementCo) in the amount of $866,631 for stadium operations costs such as staffing, supplies, and equipment.
* Payments totaling $210,110 to the City of Santa Clara for the following:
o $99,884 for reimbursement of City staff time spent planning and preparing for the College Football Playoff (CFP) Championship game.
o $65,113 for reimbursement of General and Administrative (G&A) City staff time (e.g.: City Manager's Office, City Attorney's Office, and Finance Department).
o $45,113 for the Senior and Youth Fees collected ($0.35 per ticket) for two National Football League (NFL) games held in October.
* Five payments totaling $97,168 for the following four capital expense (CapEx) projects: (1) Lymtal floor coating (2) Stadium Field Conduits (3) Water Bottle Refill Stations and (4) Security Access Control System.
ENVIRONMENTAL REVIEW
The action being considered does not constitute a "project" within the meaning of the California Environmental Quality Act ("CEQA") pursuant to CEQA Guidelines section 15378(b)(4) in that it is a fiscal activity that does not involve any commitment to any specific project which may result in a potential significant impact on ...
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