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Stadium district board approves interim budget, schedules audit and banking setup
Summary
The Maricopa County Stadium District board approved an interim, conservative budget and instructed staff to finalize bank accounts and hire an auditor; board members said the $450,000 personnel figure is a placeholder pending an executive director search.
The Maricopa County Stadium District board voted to approve an interim budget on a voice vote, moving the district toward separate banking and an annual audit required by state rules. The board also noted that district bank accounts with Chase are expected to be established in mid-July and that an auditor must be hired for an audit to be submitted to the state in September.
Andrew, who presented the treasurer's report and the interim budget, described the plan as “very conservative” and said the document was prepared with assistance from Heinfeld Beach (as stated in the meeting). He said the budget meets statutory timing requirements and that the executive director, once hired, will need to review and refine the line items.
Board members questioned a personnel line listed as $450,000, which presenters described as a plug number pending the executive search. ‘‘That’s a plug number right now until we finish our executive search,’’ one speaker said, adding the figure is a conservative placeholder to be amended when the board hires staff. Members discussed that a starting staff might include an executive director, a finance professional and a clerk, and that the personnel total could increase when responsibilities and staffing needs are clarified.
The meeting included clarification that the stadium district operates separate accounting for Cactus League funds: the district receives funds that are then transmitted on to the Arizona Tourism States Board Authority, and the district maintains a separate line item for those receipts and remittances. The board was told the county treasurer charges a small administrative processing fee for handling those pass-through transactions; staff committed to follow up with the exact fee amount.
The motion to approve the interim budget was moved and seconded and carried by voice vote with no opposition recorded on the transcript. The board indicated the approved budget is intended as an interim document that will be amended after hiring an executive director and finalizing staffing and program responsibilities.
