NYC Government Publication
Audit Report on the New York Yankees Rental Credits for the Fourth Quarter of 2006 (FR08-057A)
An audit report was filed on January 4, 2008 on the New York Yankees Rental Credits for the Fourth Quarter of 2006, the period from October 1 to December 31, 2006. The Yankees are responsible for the care of City-owned Yankee Stadium, and must pay rental income. However, the lease allows the Yankees to offset against any rental income due the City, costs incurred by the Yankees for maintaining the stadium. Thus every dollar spent and accounted for as a maintenance credit results in a dollar-for-dollar decrease in rent due the City. The audit found that Yankee rental credits submitted for the Fourth Quarter of 2006 were overstated by $157,996.68. It was recommended the Yankees deduct this amount from rental credits taken, and that the Department of Parks and Recreation enforce these protocols.
- Agency
- Subject
- Report type
- Audit Report
- Date published
- 2008-01-04
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5778_Audit_Report_on_the_New_York_Yankees_Rental_Credits_for_the_Fourth_Quarter_of_2006.pdf | 2020-05-08 | Download |