REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Action on the Proposed Santa Clara Stadium Authority Fiscal Year 2019/20 Budget and Stadium Operation and Maintenance Plan
Report
BACKGROUND
The Stadium Management Agreement (Management Agreement) defines the Stadium Operation and Maintenance Plan (SOMP) as the plan designed to achieve a safe and well maintained Stadium, and shall include the standards for management and operation of the Stadium, including the required security, staffing, and other required elements of hosting Stadium Events. The Stadium Manager is responsible for preparing the SOMP, each of which shall be presented annually to the Stadium Authority, which has to include the:
1. Annual Shared Stadium Expense Budget,
2. Annual Public Safety Budget,
3. Capital Expenditure Plan, and
4. Marketing Plan.
At its March 19, 2019 meeting, the Santa Clara Stadium Authority Board (Board) held a Study Session to discuss the proposed Santa Clara Stadium Authority Operating, Debt Service, and Capital Budget (Attachment 1) in accordance with Article 4 "Records, Accounts, Budgets, and Reports" of the Management Agreement, as well as ManCo's 2019 Marketing and Business Plan for Non-NFL Events (Attachment 2).
During the Study Session, both the Board and the public provided valuable feedback and asked pertinent questions. At the direction of the Board, Stadium Authority staff has included responses as part of this report (Attachment 4).
DISCUSSION
The Stadium Authority FY 2019/20 Budget includes key components such as the Executive Director's Transmittal Letter; Stadium Operating Budget, which includes a breakdown of the Stadium Authority's General and Administrative (G&A) costs; Shared Stadium Manager expenses, including the total expenses and the Stadium Authority's share of those expenses; Debt Service budget; and the Capital Budget. In addition, staff included a glossary of financial terms used to facilitate understanding of the types of revenues, exp...
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