NYC Government Publication
Audit Report on the New York Yankees Rental Credits for the Second Quarter of 2005 (FN06-114A)
An audit report was filed on May 24, 2006 on the New York Yankees rental credits for the second quarter of 2005 (April 1 to June 30, 2005). The Comptroller's Office is required to audit all rental credits claimed by the Yankees for the maintenance of City-owned Yankee Stadium. Under the terms of the lease, the Yankees are responsible for the care and upkeep of Yankee Stadium; the costs incurred by the Yankees for maintaining the stadium are offset against any rental income due the City from the Yankees. Thus, every approved dollar spent and accounted for as a rental credit for the maintenance of the stadium results in a dollar-for-dollar decrease in the rent due the City. It was determined that the rental credits submitted for the second quarter of 2005 were overstated by $72,492.24. Recommendations were made to rectify this issue.
- Agency
- Subject
- Report type
- Audit Report
- Date published
- 2006-05-24
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4060_AUDIT_REPORT_ON_THE_NEW_YORK_YANKEES_RENTAL_CREDITS_FOR_THE_SECOND_QUARTER_OF_2005.pdf | 2020-05-08 | Download |