REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Adoption of the Santa Clara Stadium Authority Budget Policy
Report
BACKGROUND
As part of strengthening the Stadium Authority's policies to improve governance, transparency, and responsiveness to the Santa Clara community, financing agencies, and stakeholders, staff has prepared a Budget Policy for review and adoption by the Stadium Authority Board (Board).
DISCUSSION
It is fundamentally important for organizations to develop policies. Policies define and provide guidance on how to achieve goals, strategies, and objectives. Well written policies guide and promote efficiency, effectiveness, and consistency while upholding the organization's vision. A formal documented policy is established to provide a general strategy for decision making and can be an essential management tool.
With that in mind, a Budget Policy has been created to assist the Stadium Authority Board and staff with the oversight and management of the Stadium Authority. The Budget Policy includes three sections: (1) overall budget objectives such as the development of a budget consistent with Board priorities and in compliance with Measure J; (2) specific budget policy statements such as approval of a structurally balanced budget and a budget which is in compliance with local, State, and Federal laws and the various agreements with the 49ers Management Company (ManCo); and (3) specific steps in the budget development process such as review and analysis of information received from ManCo and development of the Stadium Authority Administrative Budget.
FISCAL IMPACT
There is no cost to the Stadium Authority other than administrative staff time and expense.
ENVIRONMENTAL REVIEW
The action being considered does not constitute a "project" within the meaning of the California Environment Quality Act ("CEQA") pursuant to CEQA Guidelines section 15378(a)(5) in that it is a governmental organizational policy making or administrative activity that will ...
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