Program Authorization: Section 16, Article XIV of La. State Constitution of 1974
The mission of the Administrative Program is to provide for the operation of the Louisiana Stadium and Exposition District through funding for Superdome operation, a management fee to Louisiana Facilities Management, and the Saints Incentive Payment Schedule.
The goals of the Administrative Program are:
1. Ensure lower General Fund cost for operating the Superdome facility.
2. Provide economic benefits to the City of New Orleans and the State of Louisiana.
The source of funding is (1) fees and self-generated revenues derived from event rentals, admissions, concessions, parking and advertising, and (2) surplus from the hotel/motel tax collection.
OBJECTIVES AND PERFORMANCE INDICATORS
No performance information for this program was provided.
RESOURCE ALLOCATION FOR THE PROGRAM
SOURCE OF FUNDING
The source of funding is fees and self-generated revenues. The fees and self-generated revenues are derived from the 4% hotel/motel occupancy tax collected in Orleans and Jefferson Parishes and from event rentals, admissions, concessions, parking and advertising.
ANALYSIS OF RECOMMENDATION
The total means of financing for this program is recommended at 95.3% of the existing operating budget. It represents 98.7% of the total request ($23,710,000) for this program. The overall decrease in this appropriation is related to the risk management premium and other reductions in the management fee and the Saints Inducements Payments.
Accounting and Auditing for financial consultant to prepare the agency's budget, financial reports, maintain financial records, and make payments to the Superdome management firm and the New Orleans Saints
Engineering and Architectural funding for an architect to make periodic inspections of the facility, coordinate work of outside specialty consultants, develop capital outlay programs, investigate failures of the existing structures and perform additional duties as directed by the Board
ACQUISITIONS AND MAJOR REPAIRS
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