1500 Warburton Avenue ● Santa Clara, CA 95050 ● Phone: 408-615-2340 ● Fax: 408-243-8687 ● SantaClaraCA.gov Finance Department
SINGLE AUDIT
FOR THE YEAR ENDED JUNE 30, 2025
CORRECTIVE ACTION PLAN
FINANCIAL STATEMENT FINDINGS – CURRENT YEAR
SCSA 2025-01 Accounting Treatment for Stadium Builder Licenses (SBL) Defaults
Fiscal Year of Initial Finding: 2025
Name(s) of the contact person: Linh Lam, Assistant Director of Finance
Corrective Action Plan:
This was completed in September 2025 when the Santa Clara Stadium Authority Financial Statements dated March 31, 2025, were issued. Management has since implemented a process to perform an annual review of SBL defaults and recognize the related revenue upon the default date.
Completion Date: September 25, 2025
FEDERAL AWARD FINDINGS – CURRENT YEAR
There are no current year federal award findings.