REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Action on Stadium Authority Bills and Claims for the Month of April 2024
Report
BOARD PILLARS
Enhance Community Engagement and Transparency
Ensure Compliance with Measure J and Manage Levi's Stadium
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 the invoiced goods or services have been provided.
The Bills and Claims listing represents the cash disbursements required of normal and usual operations during April 2024. Budget control is set by the Stadium Authority Board through the budget adoption process.
DISCUSSION
At its March 12, 2024 meeting, the Stadium Authority Board adopted the Santa Clara Stadium Authority Fiscal Year 2024-25 Operating, Debt Service, and Capital Budget which runs from April 1, 2024 to March 31, 2025. Significant expenditures (greater than $5,000) paid in April 2024 include:
* Payments totaling $285,161.51 to the City of Santa Clara for the following:
o $266,309.45 for reimbursement of General and Administrative (G&A) City payroll costs (e.g., Executive Director's Office (City Manager's Office), Counsel's Office (City Attorney's Office), and Treasurer's Office (Finance Department))
o $3,568.65 for reimbursement for G&A Costs
o $15,283.41 for reimbursement for Capital Expense (CapEx) Costs
* Payments totaling $1,491,459.27 to Forty Niners Stadium Management Company, LLC for April 2024 Stadium Manager Expenses, inclusive of Shared Stadium Expenses
* Payment totaling $12,298,802.38 to Stadium Funding Trust for Term A Loan - Principal & Interest payment
* Payment totaling $13,392.31 to Dell Marketing L.P. for CapEx Project - Replacement of End of Life End User Equipment
* Payment totaling $5,108.09 to InTWO, Inc. for Financial Management System Monthly Services (March 2024)
* Payment totaling $15,914.00 to KPMG LLP for Audit Services
* Payment totaling $7,100.00 to...
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