REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Action on Stadium Authority Bills and Claims for the Month of March 2020 [Board Pillar: Enhance Community Engagement and Transparency]
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 represents 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
On April 30, 2019 the Stadium Authority Board directed staff to stop payment of any Stadium Authority invoices for services unless there is substantial documentation of services rendered, which must also be in compliance with State law and City Code. Since April 30, 2019, staff received direction to pay Stadium Authority invoices related to SBL sales and services, insurance, and utilities.
Significant expenses in March 2020 include:
* Payments totaling $78,345.48 to the City of Santa Clara for the following:
o $78,345.48 for reimbursement of General and Administrative (G&A) City payroll costs (e.g.: City Manager's Office, City Attorney's Office, and Finance Department)
* Payments totaling $2,008,702.42 to Forty Niners Stadium Management Co, LLC for the following:
o $261,000.00 for March 2020 Stadium Manager Expenses - Utilities
o $534,000.00 for March 2020 Stadium Manager Expenses - Insurance
o $253,000.00 for March 2020 Stadium Manager Expenses - SBL Sales
o $359,044.90 for CFD Advance Payment - Interest for Q3 ending 12/31/2019.
o $601,657.52 for CFD Advance Payment - Principal for Q3 ending 12/31/2019.
* Payment totaling $15,396.90 to J.S. Held LLC for audit services
ENVIRONMENTAL REVIEW
The action being considered does not constitute a "project" within the meaning of the California Environmental Quality Act ("CEQA")...
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