Attachment 2
Line Item Source of
Funds
Use of
Funds
Explanation
Beginning Fund Balance - Legal
Contingency Reserve - Buffet
Costs / Ending Fund Balance -
Legal Contingency Reserve -
Buffet Costs
(8,321)$ (8,321) $ This action decreases the Beginning and Ending Fund Balances for Legal Contingency Reserve -
Buffet Costs from $2,075,070 to $2,066,749 as a
result of FY 2022/23 year-end actuals reconciliation.
Beginning Fund Balance -
Stadium Funding Trust Reserve
/ Ending Fund Balance –
Stadium Funding Trust Reserve
(1,742,086)$ (1,742,086) $ This action decreases the Beginning and Ending Fund Balance for Stadium Funding Trust Reserve
from $5,163,080 to $3,420,994 as a result of FY
2022/23 year-end actuals reconciliation.
Beginning Fund Balance –
Unrestricted / Ending Fund
Balance – Unrestricted
4,037,345$ 4,037,345 $ This action increases the Beginning and Ending Fund Balance – Unrestricted from $10,675,771 to
$14,713,116 as a result of FY 2022/23 year-end
actuals reconciliation.
Beginning Fund Balance –
Operating Reserve / Ending
Fund Balance – Operating
Reserve
25,348,289$ 25,348,289 $ This action establishes the Beginning and Ending Fund Balance - Operating Reserve at $25,348,289.
While the reserve was presented separately in the
Stadium Authority Budget, they were not itemized in
the Operating Fund.
Beginning Fund Balance –
Renovation/Demolition Reserve
/ Ending Fund Balance –
Renovation/Demolition Reserve
5,323,390$ 5,323,390 $ This action establishes the Beginning and Ending Fund Balance - Renovation/Demolition Reserve at
$5,323,390. While the reserve was presented
separately in the Stadium Authority Budget, they
were not itemized in the Operating Fund.
Beginning Fund Balance –
Discretionary Fund Reserve
1,667,695$ 1,667,695 $ This action establishes the Beginning and Ending Fund Balance - Discretionary Fund Reserve at
$1,667,695. While the reserve was presented
separately in the Stadium Authority Budget, they
were not itemized in the Operating Fund.
Stadium Management Fee 162,515 $ This action increases the Operating Budget for Stadium Management Fee by $162,515. due to
higher net Non-NFL Event revenues than
forecasted.
StadCo Tenant Improvements 13,065 $ This action increases the Operating Budget for StadCo Tenant Improvements by $13,605. The
StadCo Tenant Improvements increased due to
more events being booked for FY 2023/24.
Ending Fund Balance -
Renovation/Demolition Reserve
(175,580)$ This action decreases the Renovation/Demolition Reserve to offset actions recommended for the
Stadium Management Fee, and StadCo Tenant
Improvements. Any increase in revenues and
expenses will impact the projected amount in the
Renovation/Demolition Reserve since this is the
current bucket being filled by current year excess
revenues.
Ending Fund Balance -
Discretionary Fund Reserve
648,000$ This action reallocates the Discretionary Fund Reserve from Transfers Out to Ending Fund
Balance.
Santa Clara Stadium Authority
2023/24 Operating Budget Adjustment
1 Attachment 2
Line Item Source of
Funds
Use of
Funds
Explanation
Santa Clara Stadium Authority
2023/24 Operating Budget Adjustment
Ending Fund Balance -
Operating Reserve
600,000$ This action reallocates Operating Reserve from Transfers Out to Ending Fund Balance.
Ending Fund Balance -
Renovation/Demolition Reserve
5,693,000$ This action reallocates the Renovation/Demolition Reserve in Ending Fund Balance.
Transfers Out (6,941,000) $ This action decreases the Transfers Out to reallocate the Discretionary Fund Reserve,
Operating Reserve and Renovation/Demolition
Reserve to Ending Fund Balance.
Ending Fund Balance - Legal
Contingency Reserve - Buffet
Costs
1,077,000$ This action reallocates the Legal Contingency - Buffet Costs in Other Operating Expenses to Ending
Fund Balance.
Other Operating Expenses –
Legal Contingency - Buffet
Costs
(1,077,000)$ This action reallocates the Legal Contingency - Buffet Costs in Other Operating Expenses to Ending
Fund Balance.
Ending Fund Balance - Legal
Contingency Reserve - Public
Safety Costs
2,002,500$ This action reallocates the Legal Contingency - Public Safety Costs in Other Operating Expenses to
Ending Fund Balance.
Other Operating Expenses -
Legal Contingency - Public
Safety Costs
(2,002,500)$ This action reallocates the Legal Contingency - Public Safety Costs in Other Operating Expenses to
Ending Fund Balance.
Total 34,626,312$ 34,626,312 $
2 Attachment 2
Line Item Source of
Funds
Use of
Funds
Explanation
Beginning Fund Balance - Debt
Service Reserve / Ending Fund
Balance - Debt Service Reserve
$ 1,232,726 $ 1,232,726 This action increases the Beginning and Ending Fund Balance from $14,431,075 to $15,663,801 as a
result of FY 2022/23 year-end actuals reconciliation.
Total 1,232,726$ 1,232,726 $
Santa Clara Stadium Authority
2023/24 Debt Service Budget Adjustment
3 Attachment 2
Line Item Source of
Funds
Use of
Funds
Explanation
Beginning Fund Balance /
Ending Fund Balance
$ 235,538 $ 235,538 This action increases the Beginning and Ending Fund Balance from $22,742,271 to $22,977,809 as
a result of FY 2022/23 year-end actuals
Fingerprinting Equipment $ 10,720 Th is action increases the Public Safety Capital Expenditure Budget for equipment purchases by
$10,720.
Projectile Launchers $ 5,508 Th is action increases the Public Safety Capital Expenditure Budget for equipment purchases by
$5,508.
Ending Fund Balance $ (16,228) This action decreases the Ending Fund Balance to offset action taken for the Fingerprinting Equipment
and Projectile Launchers.
Total 235,538$ 235,538 $
Santa Clara Stadium Authority
2023/24 CIP Budget Adjustment
4