T eam San Jose Performance
Fiscal Y ear 2021-22
A Report from the City Auditor
Issued November 2022
http://www.sanjoseca.gov/auditor
11/28/22 CED Committee
Item (d)2
Background
• Since 2004, Team San Jose has operated
several City-owned facilities on behalf of
the City
• Since 2009, Team San Jose has also
operated the San José Convention and
Visitor’s Bureau (CVB)
• Objective of this audit was to determine
whether Team San Jose achieved agreed
upon performance targets during Fiscal
Year 2021-22
San José McEnery Convention Center
Finding 1: T eam San Jose Exceeded Its Weighted Incentive Fee Score and CVB Performance T argets for FY 2021-22
Weighted Incentive Fee Score for the Convention and Cultural Facilities Weighted Performance Score for the Convention and Visitor’s Bureau Measures Target Actual % of Target Achieved Weighted Incentive Fee Score Percentage
Gross Operating Results (40%) $25,353 $2,687,086 10599% 4,239.5% Hotel Nights (20%) 100,000 101,839 102% 20.4%
Estimated Economic Impact (20%) $26,897,118 $34,183,087 127% 25.4% Theater Occupancy (10%) 65% 75% 115% 11.5%
Satisfaction Rate (10%) 95% 100% 105% 10.5%
4,307.3%Total Weighted Incentive Fee Score
Measures Target Actual % of Target Achieved Weighted Performance Score Percentage
Hotel Nights (50%) 100,000 101,839 102% 50.9%
Direct Visitor Spending (50%) $26,897,118 $34,183,087 127% 63.5% 114.5%Total Weighted Incentive Fee Score
Conclusion
We would like to thank T eam San Jose, the Office of Economic Development, and the Budget Office for their time, information, insight, and cooperation during the audit process.
The audit report is available at www.sanjoseca.gov/auditor