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Stadium Authority releases audited FY 2025 financials, reports $10.3M net from non‑NFL events; board hears audit and timing questions
Summary
The Santa Clara Stadium Authority presented audited fiscal year 2025 financial statements and a quarterly financial status report. Staff said audit timing follows a 90‑day close and auditor review; the authority reported roughly $10.3 million net revenue from non‑NFL events and continuing debt outstanding.
The Santa Clara Stadium Authority presented its audited fiscal year 2025 financial statements and a quarterly status report to the council in a joint session Oct. 21, showing final audited numbers and a larger picture of non‑NFL event activity and outstanding debt.
The authority’s treasurer walked the council through the audit timeline and explained why fourth‑quarter audited statements arrive later than interim reports: the stadium authority waits for all post‑year invoices and revenues (a 90‑day close window), then engages its outside auditor (KPMG), which performed the FY 2025 audit. The board’s audit committee met Sept. 22 and KPMG signed the audit Sept.…
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