REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Bills and Claims for the month of April 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 represent 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 $19,179,853 which includes the first required Term A principal payment of $12,110,000 and six months of interest totaling $7,069,853.
* Payment to Forty Niners Stadium Management Co. (ManCo) in the amount of $1,129,131 for stadium operations costs such as staffing, supplies, equipment, and utilities.
* Payment to Geo. M. Robinson & Co for the fire sprinkler system capital expense of $195,940.
* Two payments to the City of Santa Clara totaling $63,598 for reimbursement of General and Administrative (G&A) staff time (e.g.: City Manager's Office, City Attorney's Office, Finance Department).
* Various payments to two separate consulting firms in the total amount of $24,667 as part of the stadium community engagement efforts.
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 the environment.
FISCAL IMPACT
There is a $20,597,141 fiscal impact to the Stadium Authority.
COORDINATION
This report has been coordinated with the Stadium Authority Counsel's Office.
PUBLIC CONTACT
Public contact was made b...
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