REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Action on Stadium Authority Bills and Claims for the Month of October 2020
Report
BOARD PILLAR
Enhance Community Engagement and Transparency
Ensure Compliance with Measure J and Manage Levi's Stadium
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 October 2020 include:
* Payments totaling $93,072.86 to the City of Santa Clara for reimbursement of General and Administrative (G&A) City payroll costs (e.g.: City Manager's Office, City Attorney's Office, and Finance Department)
* Payment totaling $649,400.00 to Forty Niners Stadium Management Co, LLC include:
o $104,000.00 for October 2020 Stadium Manager Expenses - Insurance
o $545,400.00 for October 2020 Stadium Manager Expenses - SBL Sales
* Payment totaling $6,104,006.00 to Stadium Funding Trust for the Term A Loan Interest payment
* Payment totaling $3,312.50 to Singer Associates, Inc. for Board directed communication services
* Payment totaling $13,909.74 to J.S. Held LLC for audit services
* Payment totaling $6,590.63 to The Sourcing Group, LLC for Board directed mailing
ENVIRONMENTAL REVIEW
The action being considered does not constitute a ...
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