REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Action on the Santa Clara Stadium Authority Financial Status Report for Quarter Ending September 30, 2018
Report
BACKGROUND
In Fiscal Year 2014/15 the Stadium Authority Board ("Board") requested that staff prepare quarterly Santa Clara Stadium Authority ("Stadium Authority") Financial Status Reports. These reports provide an update on the events held at Levi's(r) Stadium, Stadium Authority finances, and the impact of Stadium Authority activity on the City of Santa Clara ("City").
DISCUSSION
This report provides information covering the Stadium Authority's first two quarters of FY 2018/19, which runs from April 1, 2018 to September 30, 2018. The report provides a summary of National Football League ("NFL") and Non-NFL Event activity at Levi's(r) Stadium and describes the financial impact of these events on the Stadium Authority and City.
The Adopted Stadium Authority Budget incorporates the estimated revenues and expenses for all Stadium Authority funds. The attached Financial Status Report provides the budget to actual revenue and expense summaries for the operating, debt service, and capital funds. Analysis of the financial activity through the fiscal year measures the adherence to the budget and allows the Stadium Authority to monitor and project revenues and expenses. Any significant variances are explained in the report.
NFL Events
The San Francisco Forty-Niners ("49ers") played three NFL games in the second quarter of FY 2018/19. A total of 190,840 tickets were sold for these three games resulting in $1.7 million in NFL Ticket Surcharge for the Stadium Authority and $67,000 in Senior and Youth Program Fees for the City. Public safety costs for these events totaled $741,000, all of which have been fully reimbursed to the City by a combination of payments from the Forty Niners Stadium Management Co, LLC (ManCo) and the offsite parking fees that were collected.
Non-NFL Events
Seven ticketed Non-NFL Ev...
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