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HomeMy WebLinkAbout2024-05-20 City Council Agenda PacketCITY COUNCIL Regular Meeting Monday, May 20, 2024 CITY O F Council Chambers & Hybrid PALO 5:30 PM ALTO Palo Alto City Council meetings will be held as "hybrid" meetings with the option to attend by teleconference or in person. To maximize public safety while still maintaining transparency and public access, members of the public can choose to participate from home or attend in person. Information on how the public may observe and participate in the meeting is located at the end of the agenda. Masks are strongly encouraged if attending in person. The meeting will be broadcast on Cable TV Channel 26, live on YouTube https://www.youtube.com/c/cityofpaloalto, and streamed to Midpen Media Center https://midpenmedia.org. VIRTUAL PARTICIPATION CLICK HERE TO JOIN (https://cityofpaloalto.zoom.us/j/362027238) Meeting ID: 362 027 238 Phone: 1(669)900-6833 PUBLIC COMMENTS Public comments will be accepted both in person and via Zoom for up to three minutes or an amount of time determined by the Chair. All requests to speak will be taken until 5 minutes after the staff's presentation. Written public comments can be submitted in advance to city.council@CityofPaloAlto.org and will be provided to the Council and available for inspection on the City's website. Please clearly indicate which agenda item you are referencing in your subject line. PowerPoints, videos, or other media to be presented during public comment are accepted only by email to city.clerk@CityofPaloAlto.org at least 24 hours prior to the meeting. Once received, the Clerk will have them shared at public comment for the specified item. To uphold strong cybersecurity management practices, USB's or other physical electronic storage devices are not accepted. Signs and symbolic materials less than 2 feet by 3 feet are permitted provided that: (1) sticks, posts, poles or similar/other type of handle objects are strictly prohibited; (2) the items do not create a facility, fire, or safety hazard; and (3) persons with such items remain seated when displaying them and must not raise the items above shoulder level, obstruct the view or passage of other attendees, or otherwise disturb the business of the meeting. TIME ESTIMATES Listed times are estimates only and are subject to change at any time, including while the meeting is in progress. The Council reserves the right to use more or less time on any item, to change the order of items and/or to continue items to another meeting. Particular items may be heard before or after the time estimated on the agenda. This may occur in order to best manage the time at a meeting or to adapt to the participation of the public. May 20, 2024 Materials submitted after distribution of the agenda packet are available for public inspection at www.CityofPaloAlto.org/agendas. CALL TO ORDER SPECIAL ORDERS OF THE DAY (5:30 - 6:00 PM) Santa Clara County Department of Family and Children's Services in Honor of May being National Foster Care Awareness Month 2. Proclamation Recognizing National Public Works Week 3. Greeting Yanpu, Shanghai, China Sister City Officials and Delegation AGENDA CHANGES, ADDITIONS AND DELETIONS PUBLIC COMMENT (6:00 - 6:30 PM) Members of the public may speak to any item NOT on the agenda. 1-3 minutes depending on # of speakers. Council reserves the right to limit the duration of Oral Communications period to 30 minutes. COUNCIL MEMBER QUESTIONS. COMMENTS. ANNOUNCEMENTS (6:30 - 6:35 PM) Members of the public may not speak to the item(s). STUDY SESSION (6:35 - 7:35 PM) 4. Study Session: Report from the Human Relations Commission regarding their Research on the Lived Experience of Asian American, Native Hawaiians and Pacific Islanders; CEQA status — not a project CONSENT CALENDAR (7:35 - 7:40 PM) Items will be voted in one motion unless removed from the calendar by three Council Members. 5. Approval of Minutes from May 6, 2024 Meeting 6. Adoption of a Resolution for Senate Bill 1, the Road Repair and Accountability Act, for Fiscal Year 2025, Providing the Project List for the Street Maintenance Capital Improvement Program project PE -86070; CEQA Status — Not a Project 7. Approval of Purchase Order 4524000375 with Meiden American Switchgear for the Purchase of Seven (7) 60KV Circuit Breakers for the Colorado Substation in an Amount Not to Exceed $713,023 for FY 2024; CEQA Status: Exempt Under CEQA Guidelines Section 15302 (Replacement of Existing Structures) 8. Adoption of Resolution Suspending the Levy of Assessments on the Downtown Palo Alto May 20, 2024 Materials submitted after distribution of the agenda packet are available for public inspection at www.CityofPaloAlto.org/agendas. Business Improvement District (BID) Assessment for Fiscal Year 2025; CEQA status — not a project. 9. Approval of a Budget Amendment in the General Fund for the Planning and Development Services Department's Deposit Based Fee Program for Private Development Studies in the Amount of the Net Zero $300,000: CEQA — Not a Project 10. Adoption of Revised Management and Professional Salary Schedule to Adjust the Salary of One Classification; Adoption of Administrative Revisions to the Management and Professional Compensation Plan; and Adoption of a Side Letter and Revised International Association of Fire Fighters, Local 1319 Salary Schedule for One New Classification; CEQA Status - Not a project CITY MANAGER COMMENTS (7:40 - 7:55 PM) BREAK (5-10 MINUTES) ACTION ITEMS (Item 11: 8:05 - 9:05 PM, Item 12: 9:05 - 10:35 PM) Include: Report of Committees/Commissions, Ordinances and Resolutions, Public Hearings, Report of Officials, Unfinished Business and Council Matters. 11. Ad Hoc Committee recommendation to the City Council on a Potential Charter Amendment on the Direct Election of the Mayor 12. Discussion and Direction Regarding the City Council Procedures and Protocols Handbook - Annual Discussion as Recommended by the Policy & Services Committee (Item Continued from May 13, 2024 City Council Meeting) ADJOURNMENT INFORMATION REPORTS Information reports are provided for informational purposes only to the Council and the public but are not listed for action during this meeting's agenda. 13. Investment Activity Report for the Third Quarter, Fiscal Year 2024 14. Palo Alto Transportation Management Association 2023 Annual Report, Strategic Plan, and Commute Survey 15. Staff Report - Quarterly Information Report on Sustainability and Climate Action Plan (S/CAP) Implementation; CEQA status - Not a Project May 20, 2024 Materials submitted after distribution of the agenda packet are available for public inspection at www.CityofPaloAlto.org/agendas. OTHER INFORMATION Standing Committee Meetings this week Rail Committee May 21, 2024 CANCELED Finance Committee May 21, 2024 Rail Committee May 23, 2024 Public Comment Letters Schedule of Meetings May 20, 2024 Materials submitted after distribution of the agenda packet are available for public inspection at www.CityofPaloAlto.org/agendas. PUBLIC COMMENT INSTRUCTIONS Members of the Public may provide public comments to teleconference meetings via email, teleconference, or by phone. 1. Written public comments may be submitted by email to city.council@cityofpaloalto.org. 2. For in person public comments please complete a speaker request card located on the table at the entrance to the Council Chambers and deliver it to the Clerk prior to discussion of the item. 3. Spoken public comments using a computer or smart phone will be accepted through the teleconference meeting. To address the Council, click on the link below to access a Zoom -based meeting. Please read the following instructions carefully. o You may download the Zoom client or connect to the meeting in- browser. If using your browser, make sure you are using a current, up-to-date browser: Chrome 30 , Firefox 27 , Microsoft Edge 12 , Safari 7 . Certain functionality may be disabled in older browsers including Internet Explorer. Or download the Zoom application onto your smart phone from the Apple App Store or Google Play Store and enter in the Meeting ID below. o You may be asked to enter an email address and name. We request that you identify yourself by name as this will be visible online and will be used to notify you that it is your turn to speak. o When you wish to speak on an Agenda Item, click on "raise hand." The Clerk will activate and unmute speakers in turn. Speakers will be notified shortly before they are called to speak. o When called, please limit your remarks to the time limit allotted. A timer will be shown on the computer to help keep track of your comments. 4. Spoken public comments using a phone use the telephone number listed below. When you wish to speak on an agenda item hit *9 on your phone so we know that you wish to speak. You will be asked to provide your first and last name before addressing the Council. You will be advised how long you have to speak. When called please limit your remarks to the agenda item and time limit allotted. CLICK HERE TO JOIN Meeting ID: 362-027-238 Phone: 1-669-900-6833 Americans with Disability Act (ADA) It is the policy of the City of Palo Alto to offer its public programs, services and meetings in a manner that is readily accessible to all. Persons with disabilities who require materials in an appropriate alternative format or who require auxiliary aids to access City meetings, programs, or services may contact the City's ADA Coordinator at (650) 329-2550 (voice) or by emailing ada@cityofpaloalto.org. Requests for assistance or accommodations must be submitted at least 24 hours in advance of the meeting, program, or service. May 20, 2024 Materials submitted after distribution of the agenda packet are available for public inspection at www.CityofPaloAlto.org/agendas. Item 1 Item 1 Staff Report City Council Staff Report Report Type: SPECIAL ORDERS OF THE DAY CITY O F Lead Department: City Clerk PALO A LTO Meeting Date: May 20, 2024 Report #:2405-3011 TITLE Santa Clara County Department of Family and Children's Services in Honor of May being National Foster Care Awareness Month ATTACHMENTS Attachment A: Foster Care Awareness Month Proclamation APPROVED BY: Mahealani Ah Yun Item 1: Staff Report Pg. 1 Packet Pg. 6 of 254 Item 1 Attachment A - Foster Care Awareness Month Proclamation Foster Care Awareness Month WHEREAS, It's a time to recognize that we can all play a vital part in transforming the lives of children and youth in foster care. It is also a time to deeply appreciate our caregivers and raise awareness about the critical need for more committed, nurturing, and consistent families where children in foster care cannot just survive, but truly thrive. WHEREAS, in Santa Clara County, over 600 children live in out -of -home care, and approximately half of these children need a stable, loving, and supportive home. While there are currently 151 active foster/resource homes that provide care for these children, there is still a significant need for more foster/resource families. By becoming a foster/resource family, you can make a positive impact on a child's life and provide them with the safety, stability, and nurturing environment they need. WHEREAS, the Department of Family & Children's Services recognizes the crucial role of the community in supporting foster/resource families. Throughout the month of May, there are hundreds of community events across the country being done to appreciate, retain, recruit, and most importantly, support foster/resource parents. WHEREAS, all children, regardless of their circumstances, deserve a safe, loving, nurturing, accepting, and consistent place to live. A Resource Family provides exactly that, a home where a child can focus on being just that —a child. By opening our hearts and homes, we, too, can help make all the difference in the life of a child in need. NOW, THEREFORE, I, Greer Stone, Mayor of the City of Palo Alto, on behalf of the City Council, do hereby recognize May as Foster Care Awareness Month. This is a time for us to come together, raise awareness, and take action to support the children in our community. Presented: May 20th, 2024 Greer Stone Mayor O Item 1: Staff Report Pg. 2 I I Packet Pg. 7 of 254 O Item 2 Item 2 Staff Report CITY OF PALO ALTO City Council Staff Report From: City Manager Report Type: SPECIAL ORDERS OF THE DAY TITLE Proclamation Recognizing National Public Works Week Lead Department: Public Works Meeting Date: May 20, 2024 Report #:2403-2819 RECOMMENDATION Staff recommends that the City Council proclaim the week of May 19-25, 2024, as National Public Works Week in the City of Palo Alto. ATTACHMENTS Attachment A: National Public Works Week Proclamation APPROVED BY: Brad Eggleston, Director Public Works/City Engineer Item 2: Staff Report Pg. 1 Packet Pg. 8 of 254 Item 2 Attachment A - National Public Works Week OF=PALO L Proclamation U Q j NATIONAL PUBLIC WORKS WEEK, MAY 19-25, 2024 WHEREAS, Public Works services provided in Palo Alto are an integral part of our citizens' everyday lives; and WHEREAS, the support of an understanding and informed citizenry is vital to the efficient implementation and operation of public works systems and programs such as streets, public buildings, storm drains, urban forestry, wastewater treatment, solid waste collection, environmental and sustainability programs, and airport management and operations; and WHEREAS, the health, safety, and comfort of Palo Alto greatly depends on these facilities and services; and WHEREAS, the quality and effectiveness of these facilities, as well as their planning, design, construction, and maintenance are vitally dependent upon the efforts and skill of Public Works staff; and WHEREAS, Palo Alto's Public Works Department was the first such department in Silicon Valley to achieve accreditation by the American Public Works Association in 2015, and in 2024 was granted reaccreditation, recognizing its compliance with best management practices and commitment to continuous improvement. and WHEREAS, the efficiency of the qualified and dedicated personnel who staff the Public Works Department is influenced by the community's attitude and understanding of the importance of the work they perform. NOW, THEREFORE I, Greer Stone, Mayor of the City of Palo Alto, on behalf of the entire City Council, do hereby proclaim the week of May 19, 2024 as "National Public Works Week" in the City of Palo Alto, and I call upon all citizens and civic organizations to acquaint themselves with the issues involved in providing our public works and to recognize the contributions which Public Works staff make every day to our health, safety, comfort, and quality of life. Presented: May 20, 2024 Greer Stone Mayor O Item 2: Staff Report Pg. 2 I 1 Packet Pg. 9 of 254 O Item 4 Item 4 Staff Report CITY OF PALO ALTO City Council Staff Report From: City Manager Report Type: STUDY SESSION Lead Department: Community Services Meeting Date: May 20, 2024 Report #:2403-2816 TITLE Study Session: Report from the Human Relations Commission regarding their Research on the Lived Experience of Asian American, Native Hawaiians and Pacific Islanders; CEQA status — not a project RECOMMENDATION Staff recommends that the Council receive a report from the Human Relations Commission on the results of their research on the Lived Experience of Asian American, Native Hawaiians and Pacific Islanders. This is a Study Session, therefore there will be no recommended actions; however, the Commission will be requesting Council feedback on the Commission's possible next steps. BACKGROUND The Human Relations Commission (HRC) has prepared a report on the Lived Experience of Asian American, Native Hawaiians and Pacific Islanders (Attachment A). This research is in response to input by the Council and Policy and Services Committee, as well as the HRC's ongoing work on Inclusion and Belonging, including exploring and implementing avenues to decrease hate crimes/hate based incidences in the community. A summary of this work is described below. • Council Meeting - January 19, 2021. The HRC presented a report to Council titled "Black & Brown Lives — History and Current Experience." Stemming from this report, the HRC committed to completing a project to partner with community leaders to lead up to 100 small group community conversations on diversity, inclusion, equity, and belonging, followed by a presentation of findings to Council and the community. That effort was completed in 2021. 1 City Council, January 19, 2021; Agenda Item 3; SR #11911, https://www.cityofpaloalto.org/files/assets/public/v/1/agendas-minutes-reports/reports/city-manager-reports- c m rs/yea r -a rc h ive/2021/i d-11911. pdf Item 4: Staff Report Pg. 1 Packet Pg. 10 of 254 Item 4 Item 4 Staff Report • Council Meeting —January 24, 2022. The HRC presented their report on "100 Community Conversations on Race and the Lived Experience in Palo Alto."2 There was low participation from Asian Americans and Council members felt that it was a "missed opportunity" to hear from this community. It was recommended, though no formal Council action was taken, that the HRC explore the lived experience of Asian Americans, including hate crimes/hate incidences. • Policy & Services Committee - February 8, 2022. During an update on the City's Race & Equity work,4 there was a motion passed5 to "Request the Human Relations Commission research the lived experience of Asian American and Pacific Islanders and suggest related workplan items as desired." • HRC Hosted Meeting with the Federal Bureau of Investigation (FBI) - September 21, 2022 FBI members met with representatives of the HRC and City staff to share recent hate crime statistics. Thereafter, in the spring of 2022, an Adhoc subcommittee (subcommittee) of the HRC began work on a report on the Lived Experiences of Asian American and Pacific Islanders. In keeping with the naming of the annual heritage month celebrated each year in May, the scope of the report was changed by staff to include Native Hawaiians. The subcommittee created and distributed a survey6 and targeted outreach was done in the Asian American, Native Hawaiian and Pacific Islander (AANHPI) community to anyone who lived, worked, worshipped, or went to school in Palo Alto. The survey was translated into Traditional and Simplified Chinese. The survey was open to the public in Spring/early Summer of 2023 and 100 responses were submitted. The subcommittee analyzed the survey results, as well as demographics collected from the American Communities Survey and they presented their initial results to the HRC on October 12, 2023,7 at which time members of the AANHPI community were also invited to share their experiences in Palo Alto. The subcommittee became aware that results of the City's Annual Community Survey would be available in late Fall of 2023 and requested to 2 City Council, January 24, 2022; Agenda Item 1; SR #13841, https://recordsportal.paloalto.gov/Weblink/DocView.aspx?id=22O5 3 City Council, January 24, 2022; Summary Minutes; Agenda Item 1, https://recordsportal.paloalto.gov/Weblink/DocView.aspx?id=42842 4 Policy and Services Committee, February 8, 2022; Agenda Item 1; SR #13997, https://recordsportal.paloalto.gov/Weblink/DocView.aspx?id=8475 5 Policy and Services Committee, February 8, 2022; Summary Minutes; Agenda Item 1, https://recordsportal.paloalto.gov/Weblink/DocView.aspx?id=40546 6 Human Relations Commission Asian American, Native Hawaiian, and Pacific Islander (AANHPIO Lived Experience Survey; https://www.cityofpaloalto.org/files/assets/public/v/5/community-services/human-relations- commission/aanhpi-survey/hrc-aanhpi-survey.pdf Human Relations Commission, October 12, 2023; Agenda Item 2; Attachment 1, https://www.cityofpa Ioa Ito.org/fi les/assets/pu bl is/v/1/comm u nits-services/hu man-relations- com m ission/agendas/10-12-23/10-12-23-hrc-agenda. pdf Packet Pg. 11 of 254 Item 4 Item 4 Staff Report receive the responses from the AANHPI community to incorporate into their finding and report. The updated report was presented to the HRC on March 14, 2024.8 ANALYSIS See Attachment A: Memo from the Human Relations Commission titled: Report from the Human Relations Commission regarding their Research on the Lived Experience of Asian American, Native Hawaiians and Pacific Islanders. FISCAL/RESOURCE IMPACT The HRC will be further investigating a series of next steps in response to this report in collaboration with staff. If the Commission wishes to go forward and engage with staff on any of the next steps identified that do not already align with City programming or services, staff will need to evaluate staff capacity or identify a funding source which may include requesting additional funds. STAKEHOLDER ENGAGEMENT The HRC discussed the AANHPI survey and project at the following commission meetings: February 9, 2023, March 16, 2023, April 27, 2023, June 8, 2023, October 12, 2023 (which included a listening session of the experiences of local AANHPI individuals), and a presentation of the final report on March 14, 2024. All meetings were open to the public. ENVIRONMENTAL REVIEW This is not a project as defined by CEQA. ATTACHMENTS Attachment A: Human Relations Committee Memo to Council & Slide Presentation APPROVED BY: Kristen O'Kane, Community Services Director 8 Human Relations Commission, March 14, 2024; Agenda Item 4; Attachment 1, https://www.cityofpaloa Ito.org/files/assets/public/v/2/com mu n ity-services/h u ma n-relations- commission/agendas/3-14-24/h rc-agenda-3-14-24.pdf Item 4: Staff Report Pg. 3 Packet Pg. 12 of 254 TO: FROM: DATE: RE: City Council Item 4 Attachment A - Human Relations Committee Memo to Council and Slide Presentation Adriana Eberle (Chair), Amy Hsieh, Mary Kate Stimmler, Human Relations Commission Inclusion & Belonging Adhoc Subcommittee March 22, 2023 Report from the Human Relations Commission regarding their Research on the Lived Experience of Asian American, Native Hawaiians and Pacific Islanders. Background This report on the lived experiences of Palo Alto's Asian American, Native Hawaiian, and Pacific Islander (AANHPI) residents was motivated by two factors. First, there is a large and growing population of AAHNPI residents in Palo Alto: According to the US Census, 34.8% of Palo Alto's population is Asian, which has been increasing steadily over the past decade. There is significant diversity within the Asian population, with the top five ethnicities being Chinese (20.3%), Indian (6.4%), Korean (3.1%), Japanese (1.5%), and Filipino (1%). Second, during the pandemic, anti -Asian hate crimes increased significantly across the country. In March 2023, the FBI released a Supplemental Hate Crimes Statistics report that showed the number of anti -Asian reported incidents increased 167 percent from 279 in 2020 to 746 in 2021. For these reasons, along with input received from the Council and the Policy and Services Committee, the Human Relations Commission (HRC) completed a report on the "Lived experience of Asian Americans, Native Hawaiians and Pacific Islanders." Methodology The HRC Inclusion & Belonging ad hoc Subcommittee (subcommittee) used the following sources to understand the lived experiences of AAHNPI residents better: • Human Relations Commission AAHNPI Survey: (Spring 2023) o The Commission created a survey to understand these lived experiences and distributed it across the community through community leaders, cultural centers, school forums and groups, and in -person canvassing. One hundred responses were received, including six translated from Chinese. • Listening Session/ Public Comment: o The HRC held a listening session on October 12, 2023. • Palo Alto Community Survey: o The Palo Alto Community Survey's results were analyzed to compare them with Item 4: Staff Report Pg. 4 Packet Pg. 13 of 254 Item 4 AttachmentA- - Human Relations Committee Memo to Council and those of the HRC's own survey. The survey had 190 respons Slide Presentation Asian -Indian, and Pacific Islander" residents. • American Communities Survey Data from the US Census Bureau: o The American Communities Survey (US Census Bureau) was analyzed to supplement these analyses. It is important to note that racial/ethnic categories varied by source; see footnote below. Key Themes Five key themes emerged from HRC's survey. These were (in order of frequency): appreciation and gratitude for living in Palo Alto, the need for greater visibility and civic representation for AANHPI cultures, experiences of racism and discrimination recent and historical, a need for greater recognition of the diversity within AANHPI cultures, and cultural tensions within Palo Alto Unified School District (PAUSD). These are all described in detail below: Appreciation and gratitude for living in Palo Alto Many AANHPI residents mentioned appreciation and gratitude for living in Palo Alto, with 27 out of 81 responses mentioning it. Comments like "Enjoy being part of the community" and "Great place to live and see family thrive" suggest that many residents appreciate life in our city. Similarly, in the Palo Alto Community Survey, 93% of Asian, Asian Indian, and Pacific Islander residents said they would recommend the city as a place to live, and 85% would recommend the city as a place to live if someone asked (both of these responses are more favorable for Asian populations than for non -Asian populations). Need for greater visibility and civic representation Many AANHPI residents mentioned the need for greater visibility and civic representation (17 out of 81 comments). The feeling of being under -represented in local city cultural events was similarly reflected in the Palo Alto Community Survey, where Asian, Asian Indian, and Pacific Islander residents reported lower satisfaction with recreation programs and classes (52% favorable, -17% vs. white residents), city -sponsored special events (43% favorable, -14% vs. white respondents), opportunities to attend cultural/arts/music activities (63% favorable, -9% vs. white respondents), and arts programs and theater (52% favorable, -8% vs white respondents). In the Palo Alto Community Survey, the most significant gap between Asian and white responses is in the rating of adult educational opportunities (40% favorable, -19% vs white respondents). In their HRC Survey comments, residents asked for the following: • Greater representation in government (4 comments) o "We need more local leaders to represent our community! Equality!" Item 4: Staff Report Pg. 5 Packet Pg. 14 of 254 Item 4 Attachment A - Human Relations Committee Memo to Council and • More community resources, especially in the libraries (e.g., Slide Presentation)(4 comments) o "Would like to hear more about supportive resources for Asian Americans/Pacific Islanders." • More cultural representation in community events (2 comments) o "35% of our city events are not Asian themed/focused. We would love to help our kids experience our parents' culture, but that is hard when most events are Turkey Trots and Chili Cookoffs." • Greater representation within school staff/teachers/libraries (2 comments) o "Provide more Chinese newspapers/magazines/videos at Rinconada library or online." Experiences of racism and discrimination, recent and past Several AANHPI respondents (14 out of 81 comments) shared concerns about anti-AANHPI racist attitudes and experiences, including recent and past, first-hand experiences and second-hand experiences. Concerns about inclusion were similarly reflected in the Palo Alto Community Survey. For example, only 52% of Asian, Asian Indian, and Pacific Islanders rated the openness and acceptance of the community toward people of different backgrounds favorably, compared to 61% of white respondents (although in some similar inclusion -related survey items, AANHPI residents were at similar or more favorable levels of satisfaction compared to white residents). In the open text in the HRC survey, respondents shared personal reflections on their experiences of racism: • The general existence of racist attitudes (10 comments) o "Racism against Asians is still a reality in Palo Alto." • Specific examples of recent discrimination (5 comments) o "There is a columnist for the Palo Alto Online News who has written things that are very hurtful to African Americans, Asians, and other people of color. " o Specific examples of past discrimination (3 comments) o "I have seen a lot of changes in my 68 years. When I was going to Walter Hays, my brother and I were the only Asians at the school. I remember while climbing on a jungle gym at Eleanor Park a boy pulled the corners of his eyes and made noises mimicking the Chinese language. " Need for a greater recognition of diversity within AANHPI cultures. One minor (8 out of 81 comments) but notable theme in the HRC survey was the need to recognize the diversity within AANHPI cultures. Some respondents criticized the survey's attempt to understand the AANHPI community as a singular culture: • "Any attempt to understand this as a group will fail as they comprise very Item 4: Staff Report Pg. 6 Packet Pg. 15 of 254 Item 4 Attachment A - Human Relations Committee Memo to Council and different cultures, world -views, and political leanings." Slide Presentation • "Asian is not a monolithic homogeneous group. There are wild differences in culture, values, beliefs and norms. It's frustrating to be lumped into one category AANHPI community is very diverse, however it is stereotyped to be a homogenous group." Comments on this theme serve as an important reminder that as we act on the feedback, we must appreciate the differences within the AANHPI community and appeal to several cultures. Cultural tensions within PAUSD The final minor theme (5 out of 81 comments) we heard in both the HRC survey and in public comment was a concern about cultural tensions within PAUSD, especially related to debates around the mathematics curriculum. For example, • As a white passing person, I often hear people speaking negatively about Asian parents and kids as if they don't 'belong' or somehow ruin their children's educational experience. • They want to take away opportunities for students to excel in STEM subjects and it feels like Asian students are targeted by their new policies. • There is an assumption by the school district leadership that if an Asian student is feeling any stress or depression (not necessarily associated with academics), it must be caused by academic pressure from their Asian Tiger parents. As these tensions within PAUSD are within the school district's jurisdiction, we have not addressed them directly in our recommendations for the HRC work plan but have included them as part of the lived AANHPI experiences within our City. Next Steps Based on the feedback in the survey, the HRC is considering updating our work plan to include the following five action areas: 1. Create a plan to increase AANHPI representation on city government boards, commission, and staff. 2. Create additional Asian -centered cultural events, potentially working with new hired staff DEl and special events experts. 3. Investigate the potential inclusion of more multilingual and multicultural library and other cultural resources, and creating awareness around resources that exist. Item 4: Staff Report Pg. 7 Packet Pg. 16 of 254 Item 4 Attachment A- Human Relations Committee Memo to Council and 4. Research the possibility of multilingual wayfaring signage, especial) Slide Presentation cultural resources. The prioritization of these action items will be balanced along with other priorities and city needs during our work plan re -organization in May 2024. Footnote on Racial/ethnic categories: * indicates the group used to compare to the respondents of the HRC survey. • The HRC survey had a blank text "write-in" option asking people "How do you identify yourself?" • Data from the Palo Alto Community Survey had data available for following: o White o Asian, Asian -Indian, Pacific Islander* o Multiracial/Other o Note that Black was combined with Multi -racial and Other due to low number of responses to protect anonymity • The American Communities Survey includes data on the following: o American Indian and Alaska Native o Asian* o Black or African American o Hispanic or Latino o Native Hawaiian and Other Pacific Islander o Not Hispanic or Latino o Some Other Race o Two or More Races o White Item 4: Staff Report Pg. 8 Packet Pg. 17 of 254 Item 4 Attachment A - Human Relations Committee Memo to Council and Slide Presentation Palo Alto Asian American, Native Hawaiian, Pacific Islander (AANHPI) Human Relations Commission March 2024 Lived Experiences Survey Item 4: Staff Report Pg. 9 1 Packet Pg. 18 of 254 Item 4 Contents Attachment A - Human Relations Committee Memo to Council and Slide Presentation • Introduction/Context • Top concerns for AAHNPI Residents (Findings from Palo Alto Community Survey and HRC Survey) • HRC Survey Respondent Characteristics • Cross Race Comparisons (Palo Alto Community Survey) Item 4: Staff Report Pg. 10 Packet Pg. 19 of 254 Context Introduction Item 4 Attachment A - Human Relations Committee Memo to Council and Slide Presentation Survey Goals This survey was conducted by the Human Relations Commission to more fully understand the lived experiences of Asian American, Native Hawaiian, and Pacific Islander residents. Timing This survey was conducted between May and July 2023. Method The survey was shared using word-of-mouth, social media posts, flyers, City enews and community cultural groups/events. There were 100 responses to the survey. • To address the small number of responses, we supplemented where possible with two additional data sources: the American Communities Survey from the US Census Bureau (using race/ethnicity category "Asian") and the 2023 Palo Alto Community Survey (using 190 responses in the "Asian, Asian Indian, and Pacific Islander" race/ethnicity category). Next Step The HRC will consider adding four key recommendations to the HRC Work Plan when it is revised in 022024. Item 4: Staff Report Pg. 11 Packet Pg. 20 of 254 Context - Item 4 Attach In 2022, 34.8% of Palo Alto was Asian*; the majority of Asian res [Committee eeMemotoCouncint A - Human lans iese Committee Memo to Council and Slide Presentation (20.7% of all residents). American Communities Survey Data Chinese Asian Indian Korean Japanese Filipino Vietnamese Other Asian Native Hawaiian 0 5 10 15 20 25 Percent of all Palo Alto Residents Only includes people who identified as one race. L. Item 4: Staff Report Pg. 12 vv` M Packet Pg. 21 of 254 Context The Asian population has been steadily growing in Palo Alto. 100 75 50 25 0 American Communities Survey Data 17,079 residents 20,977 residents 23,647 residents 2012-2016 2013-2017 2018-2022 % Asian Population in Palo Alto (ACS 5 year estimates) Item 4: Staff Report Pg. 13 Item 4 Attachment A - Human Relations Committee Memo to Council and Slide Presentation Packet Pg. 22 of 254 Findings What should we know about your experience as an AANHPI There were five recurring themes within responses: Appreciation and gratitude for living in Palo Alto. Need for greater visibility and civic representation of AANHPI cultures. Experiences of racism and discrimination, recent and past. Need for a greater recognition of diversity within AANHPI cultures. Cultural tensions within PAUSD. Item 4 Attachment A - Human Relations Committee Memo to Council and ind i Slide Presentation Ito 0 10 20 30 han 1 theme) Item 4: Staff Report Pg. 14 Packet Pg. 23 of 254 Findings • Item 4 A - 1. HRC Survey shows many AANHPI residents have appreciat committeeMemotHumanCouncil a for Committee Memo to Council and Slide Presentation living in Palo Alto. The most common theme expressed by AANHPI residents was a general sense of gratitude for living in Palo Alto. feel comfortable in the community. I feel safe and comfortable living and walking in Palo Alto, I didn't realize the proportion of Asians was so high. Its gone up since we moved here in 1986. It's great Love the diversity Overall it is great Enjoy being part of the community Great place to live and see family thrive!! I have enjoyed living in Palo Alto and have been treated well. I feel satisfied so far. Palo Alto is a great place to live and raise children. We plan to continue to live here after our retirement. 27 out of 81 comments Item 4: Staff Report Pg. 15 1 Packet Pg. 24 of 254 Findings 1. Community Survey results similarly show that AANHPI levels of appreciation for the city. Item 4 Attachment A - Human Relations resliCommittee Memo to Council and Slide Presentation 0% 25% 50% 75% 100% % of Asian Respondents to City-wide Survey Due to low n -counts for other races/ethnicities, ra availahla fr IItem 4: Staff Report Pg. 16 Packet Pg. 25 of 254 Findings 2. HRC Survey shows a greater visibility and civic cultures. The second most common theme was a need for greater visibility and appreciation for AANHPI residents and their culture, including: • Greater representation in government (4 comments) • More community resources, especially in the libraries (e.g. books in Chinese) (4 comments) • More cultural representation in community events (2 comments) • Greater representation within school staff/teachers/libraries. (2 comments) Item 4 Attachment A - Human Relations representaCommittee Memo to Council and Slide Presentation We need more local leaders to represent our community! Equality! It would be nice to see representation in different places of city government and school admissions. We do not have enough representation in the government. Sometimes feel like we don't see enough cultural events or representation in media at Paly. Would like to hear more about supportive resources for Asian Americans/Pacific Islanders. 35% of our city events are not Asian themed/focused. We would love to help our kids experience our parents culture but that is hard when most events are Turkey Trots and Chili Cookoffs. Provide more Chinese newspaper/magazines/videos at Rinconada library or online. Palo Alto is not very diverse. Suggest adding more cultural programs, more communication to decrease AAPHI hate problem. 17 out of 81 I think the community can provide more Chinese signs for Senior Chinese comments Item 4: Staff Report Pg. 17 Packet Pg. 26 of 254 Findings 2. The Community Survey also shows a need for representation of AANHPI cultures. Recreation programs or classes -17% vs white respondents City -sponsored special evens -14% vs white respondents Opportunities to attend cultural/arts/music -9% vs white respondents Art programs and theater -8% vs white respondents Adult education opportunities -19% vs white respondents Item 4 Attachment A - Human Relations greatervisi b Committee Memo to Council and Slide Presentation 0% 20% 40% 60% % of Asian Respondents rating item as Excellent or Good 80% Due to low n -counts for other races/ethnicities, ra availahla fr IItem 4: Staff Report Pg. 18 Packet Pg. 27 of 254 Findings • Item 4 t A - 3. The HRC Survey shows experiences of racism and discrimina CommitteeMemotHumanounciland 1 past. Committee Memo to Council and Slide Presentation Respondents mentioned the general existence of racist attitudes (10 comments), specific recent incidents (5 comments) and some past incidents (3). There is still some racial discrimination against (immigrant) Chinese people. Racism against Asians is still a reality in Palo Alto. Enjoy the cultural diversity and open-mindedness of most people but there are always some who don't appreciate it and those who aren't open to sharing. There is a columnist for the Palo Alto Online News that has written things that are very hurtful to African Americans, Asians, and other people of color. It feels like the Southeast Asian community and Islander community are largely viewed as "the help". I don't think there is any inherent racial bias, but the economic entry point to the city pretty much guarantee that Palo Altans are only learning about their wealthy neighbors instead of other Asian cultures. My experience has not resulted in any ethnic prejudices, but I was upset when I heard about the Asian mailman that was verbally accosted a few years ago on Ross Road. I have seen a lot of changes in my 68 years. When I was going to Walter Hays, my brother and I were the only Asians at the school. I remember while climbing on a jungle gym at Eleanore Park a boy pulled the corners of his eyes and made noises mimicking the Chinese language. I was probably 10 or so. But that's the only negative experience th I 14 out of 81 remember while growing up in PA. comments Item 4: Staff Report Pg. 19 1 Packet Pg. 28 of 254 Findings 3. Feedback in the Community Survey also shows some discrimination among Asian, Asian Indian and Pacific Ratings of Community Openness and acceptance of the community toward people of diverse backgrounds -9% vs White respondents Valuing/respecting residents from diverse backgrounds +10/ vs White respondents Ratings of City Govt Treating residents with respect +5% vs White respondents Treating all residents fairly +8% vs White respondents Item 4 Attachment A - Human Relations e\ndE Committee Memo to Council and Slide Presentation Islanc er resi en s. 0% 20% 40% 60% % of Asian Respondents rating item as Excellent or Good 80% Item 4: Staff Report Pg. 20 Packet Pg. 29 of 254 Due to low n -counts for other raceslethniciti ,�„� ..,,,., I. Findings 4. HRC Survey Shows the need for a greater recognition of AANHPI cultures. Some residents mentioned the need for a greater appreciation of the diversity within AANHPI cultures. 8 out of 81 comments Item 4 d I Attachment A - Human Relations Committee Memo to Council and Slide Presentation Firstly, the term AANHPI is offensive. It attempts to reduce the rich diversity of all the communities defined by the term as if they were a homogenous group. Any attempt to understand this as a group will fail as they comprise very different cultures, world -views, and political leanings. Asian is not a monolithic homogeneous group. There are wild differences in culture, values, beliefs and norms. It's frustrating to be lumped into one category AANHPI community is very diverse, however it is stereotyped to be a homogenous group. Within AANHPI not only there are cultural differences, but there are inequities experienced between the populations based on the group they represent, class, education, immigration status, generation (how many years lived in US), and darkness of skin There should be more voices in the world for mixed people. Item 4: Staff Report Pg. 21 Packet Pg. 30 of 254 Findings 5. Finally, the HRC Survey included feedback on cultural Respondents noted that there are cultural tensions within PAUSD and different cultural standards for public education, particularly around parenting styles (2 comments) and STEM education (2 comments). i out of 81 comments Item 4 Attachment A - Human Relations tensilCommittee Memo to Council and SD. Slide Presentation As a white passing person, I often hear people speaking negatively about Asian parents and kids as if they don't 'belong' or somehow ruin their children's educational experience. The concept of 'forever foreigner' is alive and well in Palo Alto. Schools in PA feel less welcoming to Asians with the current district leadership. They want to take away opportunities for students to excel in STEM subjects and it feels like Asian students are targeted by their new policies. I feel that the PAUSD school district demonizes Asian Americans as two-dimensional and as creating academic pressure not only on their own children, but the children of the entire community. There is an assumption by the school district leadership that if an Asian student is feeling any stress or depression (not necessarily associated with academics), it must be caused by academic pressure from their Asian Tiger parents. We have experienced a very hostile school board that did not take us as parents' feedback when making decisions. There is an anti -STEM vibe flowing through the PAUSD administration that disproportionately affects Asian kids. The current kerfuffle over multivariable calculus and linear algebra is an example. These are courses primarily taken by Asian kids and the administration decided to initially drop them, and after a big fight has allowed them back in a less than ideal manner. Item 4: Staff Report Pg. 22 Packet Pg. 31 of 254 Recommendations / Item4 Attachment A - Human Relations Four key ways to build a more inclusive community for Asian Committee Memo to Council and Slide Presentation To be considered for future inclusion in the HRC workplace in Q2 2024 Greater representation in city government boards, commissions, and staff Additional Asian -centered cultural events •11 More non -multilingual or multi -cultural library and other resources; or greater awareness of existing resources II ■ Multilingual wayfaring signage Item 4: Staff Report Pg. 23 Packet Pg. 32 of 254 Respondent Characteristics There were a wide -range of ways that respondents identified. american9 Years- -- immi rent■ chinese1dent;fr°a s i a n tla 4s i a n 4� identlf nlI buck round eren difft— r° /I r identlfl ! g • asians ,�a{ep ... ., �,�..��"�, �f'rhn,� a�foa s I a n identify„ urn »years �' Identify"• different �l � �� speak w born .�'� awhite M� S I 0 south m�,+ ImmgranI //■■�� : background speak background lmmi9 ant soulh identify a a rue nr i C a n , indian . Y it Y ( , �itfer nr , ny ., • v G. ... can tp _ asians can d' �■+ I I y south hire borne yes r� ::, ro Indian aas �r �jS`j r✓ imm r�t�G grant )identsians ify white 5 /' '� ✓C n.h indianCi pal 'ors In(ioan fired Srpeak.:. � yes /�paople - e r ea y�' `identify people �' born t ereamc o a� d :ferentasians alto `�, '"� �� :nna RC iaii3 y N, rtsr. p yes a born P� pie qre o y tD whited 1 a Paia yes yes asians re identifta� SpeakPr�'�ar`:1T°' narc L-- • nb'tan v e;;� People ➢d naae�Rnc iPa"�•,t"r.. 1 ears mm diffgnt + ` white" ".,..�� 'dwhitebac 9�vund v whites 11tH background Years _ r. aa„ white Identif' yes ;, /z - V •- syears �nvn■ Years !30„Uth . / o area dn�,#ihese­" r r torn in different n. �o alto" foray aidentify mmi reM�nmiw�■bockgro... tY- Q ic3'CW, i4r5oti$nm $Du �+ �nese g ndaemud}fferen Vh * ara�► -� chi,nee o. aalto polo asians i assns a car u area white �..{'� W�I I I I e I ca In �e intlian LA N I! t I intlian~'"`ChlneSe speak Paia mmigranw. �/� � i1 nram ,,./ " american Item 4 Attachment A - Human Relations Committee Memo to Council and Slide Presentation The most common ways that respondents identified where: • Asian (24) • Asian American (8) • Indian (8) • Chinese American (8) • Chinese (8) • South Asian (3) • American (3) Some of the unique ways that respondents identified were: 1OO% Vietnamese immigrant, Burmese Chinese, British -Born Chinese, East Asian American, American Born Chinese, Filipino -American, AAPI, mixed.Taiwanese and Chinese American. Item 4: Staff Report Pg. 24 Packet Pg. 33 of 254 Respondent Characteristics - Item 4 Monolingual English was the most common language of respon CommitteeMemotHumanouncilans Committee Memo to Council and 1 ra l Slide Presentation other languages were also spoken. Language(s) According to American Communities Survey (US English only 34 Census), 33% of Palo Alto residents speak a language English + other language(s) 58 Chinese* 33 Chinese only 7 Indian Language other than Hindi* 10 Japanese* 8 Spanish* 8 Hindi* 6 Vietnamese* 4 French* 3 other than English at home. % of all residents who speak a language other than English at home who speak Spanish 4% Indo-European language 11% Asian or Pacific Islander language 18% *Most speakers also spoke English. Item 4: Staff Report Pg. 25 vv Packet Pg. 34 of 254 Languages only spoken by one respondent inc r..._, __. Respondent Characteristics • - A large majority of respondents were either young -middle or seniors (55+) (44%). According to 2022 American Communities Survey (US Census), 38.5% of Palo Alto was 25-54 and 29% were 37.6% were over 55%, suggesting that the demographics of respondents roughly matched those of the city. 60 GDS 20 0 What is your age range? Under 12 12-24 25-54 55-74 75+ Item 4 Attachment A - Human Relations a(39%)ge Committee Memo to Council and Slide Presentation Item 4: Staff Report Pg. 26 Packet Pg. 35 of 254 Respondent Characteristics - Item 4 A - A large majority of respondents have lived in Palo Alto 10+ year CommitteeMernotHumanCouncil Committee Memo to Council and Slide Presentation How long have you lived in Palo Alto? 50 40 30 20 10 0 Under 5 yrs 5-10 yrs 10-20 yrs 20+ yrs NA/No response Item 4: Staff Report Pg. 27 Packet Pg. 36 of 254 • '. - • •. • Source: Palo Alto Community Survey In the Palo Alto Community Survey, "Black, Multi -Racial, and Ot CommitteeMemott a ouncilans have a Committee Memo to Council and de generally less positive experience compared to White and Asian resiaesntats, Overall distribution of Palo Alto City Survey items by race # of survey items more than 5% below "overall" rating # of survey items more than 5% above "overall" city rating 1a Asian, Asian Indian, Pacific Islander n=190 W Black, Multi -racial 7 and Other rack s 25 Item 4: Staff Report Pg. 28 1 Packet Pg. 37 of 254 Cross Race Comparison - . • • Item 4 In the Community Survey, there is general consensus across racial grow Attachment A -Human Relations of our Committee Memo to Council and city that need the most attention. Gray boxes indicate that item was not in low Slide Presentation Lowest ranked items on Community Survey Asian, Asian Indian, Black, Multi -Racial, across all respondents All Residents White Pacific Islander "Other" Cost of living in Palo Alto 8% 7% 8% 14% Availability of affordable quality housing 10% 7% 14% 9% Availability of affordable quality mental health 17% 17% 15% 21/° ° care Building and planning application processing 20% 14% 29% 32% services Availability of affordable quality 20% 16% 26% 28/° ° childcare/preschool Ease of travel by public transportation in Palo Alto 23% 25% 19% 19% Variety of housing options 24% 20% 31% 22% Land use, planning, and zoning 32% 28% 41% 26% Affordable high-speed internet access 35% 36% 35% 30% Taking care of vulnerable residents 39% 38% 45% 25% Code enforcement 40% 36% 45% 44% Working hard to keep utilities prices competitive 41% 46% 33% 41% Item 4: Staff Report Pg. 29 1 Packet Pg. 38 of 254 • '. - • •. • Source: Palo Alto Community Survey Unique areas of concern for each racial group: Items were ranke ComchtteeMemott Councilans p, Committee Memo to Council and U S Slide Presentation bottom 12 but not in the bottom 12 for all residents combined. Items that were in the racial • Employment • Opportunities to learn • Treating all residents group's bottom 12, but not in opportunities. about City services fairly bottom 12 for the city through social media • Value of services for overall. such as Twitter, taxes paid to Palo Alto Facebook, and • Overall direction Palo Nextdoor Alto is taking • Adult educational • Being open and opportunities transparent to the public Item 4: Staff Report Pg. 30 Packet Pg. 39 of 254 Item 5 Item 5 Staff Report CITY OF PALO ALTO TITLE Approval of Minutes from May 6, 2024 Meeting RECOMMENDATION That the minutes be reviewed and approved. ATTACHMENTS Attachment A: May 6, 2024 Draft Action Minutes APPROVED BY: Mahealani Ah Yun City Council Staff Report Report Type: CONSENT CALENDAR Lead Department: City Clerk Meeting Date: May 20, 2024 Report #:2405-3010 Item 5: Staff Report Pg. 1 Packet Pg. 40 of 254 Item 5 Attachment A- May 6, 2024 Draft Action C CITY COUNCIL Minutes CITY Or PALO DRAFT ACTION MINUTES ALTO Regular Meeting May 6, 2024 The City Council of the City of Palo Alto met on this date in the Council Chambers and by virtual teleconference at 5:30 P.M. Present In Person: Burt, Kou, Lauing, Lythcott-Haims, Stone, Tanaka, Veenker Present Remotely: Absent: Council Member Questions. Comments and Announcements Special Orders of the Day 1. Interview Candidate for Vacancies on Utilities Advisory Commission. CEQA Status - Not a project. NO ACTION 2. Appointment of Candidates for Vacancies on the Architectural Review Board, Human Relations Commission, Planning and Transportation Commission, and Public Art Commission. CEQA Status - Not a project. Architectural Review Board First Round of Voting for Two (2) vacancies on the Architectural Review Board with terms ending March 31, 2027 Ajay Kumar Mishra: Geddes Ulinskas: Kou, Lauing Kendra Rosenberg: Burt, Lythcott-Haims, Stone, Tanaka, Veenker Mousam Adcock: Burt, Kou, Lauing, Stone, Veenker Zachary Pozner: Lythcott-Haims, Tanaka Candidate Kendra Rosenberg receiving 5 votes is appointed to a full -term expiring March 31, 2027. Page 1 of 7 Item 5: Staff Report Pg. 2 Packet Pg. 41 of 254 Item 5 Attachment A - May 6, DRAFT ACTION MI N UT 2024 Draft Action Minutes Candidate Mousam Adcock receiving 5 votes is appointed to a full -term expiring March 31, 2027. Human Relations Commission First Round of Voting for Two (2) vacancies on the Human Relations Commission with terms ending March 31, 2027 Cara Silver: Burt, Kou, Lauing, Tanaka Donald Barr: Burt, Lauing, Stone, Veenker Marc Schoenen: Mary Kate Stimmler: Kou, Stone, Lythcott-Haims, Tanaka, Veenker Uzma Rashid Minhas: Lythcott-Haims Candidate Mary Kate Stimmler receiving 5 votes is appointed to a full -term expiring March 31, 2027. Candidates Cara Silver and Donald Barr received 4 votes each and are tied for the second vacancy. A second round of voting is required. Second Round of Voting for One (1) vacancy on the Human Relations Commission with the term ending March 31, 2027 Cara Silver: Lauing, Kou, Tanaka Donald Barr: Burt, Lythcott-Haims, Stone, Veenker Candidate Donald Barr receiving 4 votes is appointed to a full -term expiring March 31, 2027. Public Art Commission First Round of Voting for Four (4) vacancies on the Public Art Commission with two terms ending March 31, 2027 and two partial terms ending March 31, 2026 Allison Huynh: Tanaka Amber Smith: Burt, Kou, Veenker Claude Ezran: Burt, Lauing, Stone Harriet Stern: Kou, Stone, Veenker Hsinya Shen: Burt, Kou, Lauing, Stone, Lythcott-Haims, Tanaka, Veenker Sonia Patwardhan: Lauing, Tanaka Tara de la Garza: Burt, Lauing, Stone, Lythcott-Haims, Veenker Yuri Chang: Kou, Lythcott-Haims, Tanaka Candidate Hsinya Shen receiving 7 votes is appointed to a full -term expiring March 31, 2027. Page 2 of 7 City Council Meeting Draft Action Minutes: 05/06/2024 Item 5: Staff Report Pg. 3 Packet Pg. 42 of 254 Item 5 Attachment A - May 6, DRAFT ACTION MI N UT 2024 Draft Action Minutes Candidate Tara de la Garza receiving 5 votes is appointed to a full -term expiring March 31, 2027. No other Candidates received four votes required to be appointed to the partial terms expiring March 31, 2026. A second round of voting is required. Second Round of Voting for Two (2) partial terms ending March 31, 2026 on the Public Art Commission Allison Huynh: Amber Smith: Burt, Lythcott-Haims, Veenker Claude Ezran: Burt, Lauing, Stone Harriet Stern: Kou, Stone, Veenker Sonia Patwardhan: Lauing, Tanaka Yuri Chang: Kou, Lythcott-Haims, Tanaka No Candidate received four votes required to be appointed to the partial terms expiring March 31, 2026. A third round of voting is required. The Council directed the elimination of candidates without a minimum of three votes. Third Round of Voting for Two (2) partial terms ending March 31, 2026 on the Public Art Commission Amber Smith: Tanaka, Veenker, Lythcott-Haims Claude Ezran: Burt, Lauing, Stone Harriet Stern: Burt, Kou, Lauing, Stone, Veenker Yuri Chang: Kou, Lythcott-Haims, Tanaka Candidate Harriet Stern receiving 5 votes is appointed to a partial term expiring March 31, 2026. No other Candidates received four votes required to be appointed to the partial term expiring March 31, 2026. A fourth round of voting is required. Fourth Round of Voting for One (1) partial terms ending March 31, 2026 on the Public Art Commission Amber Smith: Burt, Veenker Claude Ezran: Lauing, Stone Yuri Chang: Kou, Tanaka, Lythcott-Haims No Candidate received four votes required to be appointed to the full -term expiring March 31, 2026. A fifth round of voting is required. Fifth Round of Voting for One (1) partial terms ending March 31, 2026 on the Public Art Commission Page 3 of 7 City Council Meeting Draft Action Minutes: 05/06/2024 Item 5: Staff Report Pg. 4 Packet Pg. 43 of 254 Item 5 Attachment A - May 6, DRAFT ACTION MI N UT 2024 Draft Action Minutes Amber Smith: Burt, Lauing, Stone, Veenker Claude Ezran: Yuri Chang: Kou, Lythcott-Haims, Tanaka Candidate Amber Smith receiving 4 votes is appointed to a partial term expiring March 31, 2026. Planning and Transportation Commission First Round of Voting for One (1) vacancy on the Planning and Transportation Commission with the term ending March 31, 2028 Ashish Bhattacharya: Barton Hechtman: Burt, Kou, Lauing, Lythcott-Haims, Stone, Tanaka, Veenker Candidate Barton Hechtman receiving 7 votes is appointed to a full -term expiring March 31, 2028. 3. Proclamation of May 2024 as Affordable Housing Month NO ACTION Agenda Changes, Additions and Deletions Public Comment Study Session 4. City Manager Transmittal of the Fiscal Year 2025 Proposed Operating and Capital Budgets NO ACTION 5. Bi-Annual Discussion with the Independent Police Auditor NO ACTION Page 4 of 7 City Council Meeting Draft Action Minutes: 05/06/2024 Item 5: Staff Report Pg. 5 Packet Pg. 44 of 254 Item 5 Attachment A - May 6, DRAFT ACTION MI N UT 2024 Draft Action Minutes Consent Calendar Council Member Tanaka registered a no vote on Agenda Item Number 7. MOTION: Vice Mayor Lauing moved, seconded by Mayor Stone to approve Agenda Item Numbers 6-14. MOTION PASSED ITEMS 6, 8-14: 7-0 MOTION PASSED ITEM 7: 6-1, Tanaka no 6. Approval of Minutes from April 15, 2024 and April 22, 2024 Meetings 7. Approval and Authorization for the City Manager to Execute Purchase Orders with Pre - Qualified Vendors for Electric Distribution Transformers for the Grid Modernization Project (EL -24000) in an Annual Amount up to $4,000,000 through FY 2026, and Increasing the Total Aggregate Not -to -Exceed Purchase Order Amount for FY 2022 through FY 2026 from $10,000,000 to $16,000,000, with all Purchases Subject to Assigned Purchase Order and Availability of Funds; CEQA Status: Exempt under CEQA Guidelines Sections 15302, 15303 and 15183. 8. Approval of Contracts with the City of Los Altos and Town of Los Altos Hills to Provide Regional Animal Care and Control Services; (CEQA status — not a project.) 9. Approval of General Service Agreement Contract Number C24189229 with Xerox in an Amount Not to Exceed $382,165 to Lease Printing Equipment for the Print Shop for a Period of Three Years; CEQA Status: Not a Project 10. Adoption of a Resolution to Extend the Interim Parklet Program to July 31, 2024; CEQA Status - Categorically Exempt (Sections 15301 and 15304(e)) 11. LEGISLATIVE: Adoption of an Ordinance Updating Chapter 18.15 (Density Bonus) of Title 18 (Zoning) to Reflect Recent Changes in State Density Bonus Law and Revising Regulations for Provision of On -Site Affordable Rental Units Under the City's Inclusionary Housing Ordinance; Recommended by the Planning and Transportation Commission March 13, 2024. CEQA Status: Exempt under CEQA Guidelines Section 15061(b)(3). 12. Policy & Services Committee Recommendation Regarding State and Federal Legislative and Budgetary Updates and Positions on Pending State Legislation 13. Adoption of a Resolution to Appoint Katherine Murdock of Baker Tilly US, LLP as City Auditor; CEQA status — Not a Project 14. Approval of Contract Amendment Number 6 to Contract C18171057 with AECOM to increase compensation by $297,206 for a new total not to exceed of $3,894,034 and Extend the Term for Six Months for Additional Studies, Outreach, and Support for Rail Page 5 of 7 City Council Meeting Draft Action Minutes: 05/06/2024 Item 5: Staff Report Pg. 6 Packet Pg. 45 of 254 Item 5 Attachment A - May 6, DRAFT ACTION MI N UT 2024 Draft Action Minutes Grade Separation Projects along Caltrain Corridor; CEQA status — statutorily exempt under CEQA section 15262 (feasibility and planning study). City Manager Comments Ed Shikada, City Manager Action Items 15. PUBLIC HEARING / QUASI-JUDICIAL. 800 San Antonio Road [23PLN-00010]: Recommendation on Applicant's Request for a Rezone from Service Commercial to Planned Community/Planned Home Zoning (PC/PHZ). The Project Includes Construction of 75 Residential Condominium Ownership Units Including 15 Below -Market Rate Units (20% of the Units) in a Five Story Building with Two Levels of Subterranean Parking. A Subdivision Map will be Required. An Addendum to the Previously Certified Environmental Impact Report for the Housing Incentive Program Expansion and 788 San Antonio Mixed Use Project (SCH # 2019090070) was Prepared. Zoning District: CS (Commercial Service). MOTION: Council Member Veenker moved, seconded by Vice Mayor Lauing to take the following actions: 1. Consider the Addendum to the previously adopted Environmental Impact Report (Attachment F), and; 2. Adopt an Ordinance rezoning the subject site from Service Commercial to Planned Community/Planned Home Zoning (Attachment B) as recommended by the Planning & Transportation Commission, and; 3. Adopt the Record of Land Use Action approving the Architectural Review, based on findings and subject to conditions of approval as recommended by the Architectural Review Board (Attachment C). 4. Add additional condition to the Record of Land Use Action to include: "Within 120 days of request by the City, the applicant shall dedicate a Public Access Easement over a portion of the 24 -foot front yard special setback for multi -modal transportation improvements in a form acceptable to the Planning and Development Services Director, Public Works Director, and City Attorney. Any future easement may require the removal of site improvements to facilitate multimodal transportation improvements or Comprehensive Plan policies." MOTION PASSED: 6-1, Kou no Page 6 of 7 City Council Meeting Draft Action Minutes: 05/06/2024 Item 5: Staff Report Pg. 7 Packet Pg. 46 of 254 Item 5 Attachment A - May 6, DRAFT ACTION MI N UT 2024 Draft Action Minutes Study Session 16. Review Workforce Recruitment Strategic Plan and Recommendations for Improvements in the Recruitment Process Item Removed from the Agenda for Discussion and Provided as an Informational Report. Adjournment: The meeting was adjourned at 11:00 P.M. ATTEST: City Clerk APPROVED: Mayor NOTE: Action minutes are prepared in accordance with Palo Alto Municipal Code (PAMC) 2.04.160(a) and (b). Summary minutes (sense) are prepared in accordance with PAMC Section 2.04.160(c). Beginning in January 2018, in accordance with Ordinance No. 5423, the City Council found action minutes and the video/audio recordings of Council proceedings to be the official records of both Council and committee proceedings. These recordings are available on the City's website. Item 5: Staff Report Pg. 8 Page 7 of 7 City Council Meeting Draft Action Minutes: 05/06/2024 Packet Pg. 47 of 254 Item 6 Item 6 Staff Report City Council Staff Report From: City Manager CITY O F Report Type: CONSENT CALENDAR PALO Lead Department: Public Works ALTO Meeting Date: May 20, 2024 Report #:2404-2863 TITLE Adoption of a Resolution for Senate Bill 1, the Road Repair and Accountability Act, for Fiscal Year 2025, Providing the Project List for the Street Maintenance Capital Improvement Program project PE -86070; CEQA Status — Not a Project RECOMMENDATION Staff recommends that Council adopt the attached resolution for Fiscal Year 2025, providing a project list funded by Senate Bill 1, the Road Repair and Accountability Act. BACKGROUND/ANALYSIS Senate Bill 1 (SB 1) established the Road Maintenance and Rehabilitation Account (RMRA) in 2017 to address deferred maintenance on the state highway and local streets and roads systems, with funding to be approved annually. Palo Alto's RMRA funding estimate for Fiscal Year 2024-2025 is $1,753,076. SB 1 funding requires that Council approve a resolution (Attachment A) providing a project list that includes four components: ■ Project description; ■ The location of each proposed project; ■ Schedule for completion; and ■ Estimated useful life of improvement. The adopted resolution must be sent to the California Transportation Commission by July 1, 2024. Staff recommends the RMRA funding for Fiscal Year 2025 be recognized in the Gas Tax Fund and transferred to the Capital Improvement Fund to be added to the Street Maintenance Project, PE -86070. This funding recommendation is included in the Fiscal Year 2025 Proposed Capital Budget. The SB 1 funding supported the City's goal of achieving an average citywide Pavement Condition Index (PCI) of 85 by 2019 with no street having a PCI less than 60. The City reached the 85 PCI goal in December 2018, and the additional funding helps enable the City to address streets that still have PCI scores less than 60. The funding will be used on the Fiscal Year 2025 Asphalt Paving Project for the streets shown in Attachment B. Work on this project is Item 6: Staff Report Pg. 1 Packet Pg. 48 of 254 Item 6 Item 6 Staff Report anticipated to be completed by summer 2025. An award of construction contract is anticipated to be brought to Council for approval in fall 2024. The estimated useful life of a street overlay is 30 years. The City uses StreetSaver, the Metropolitan Transportation Commission's (MTC) pavement management system which is used by almost all Bay Area jurisdictions. The Pavement Condition Index (PCI) is calculated by evaluating a sample pavement section on each block for different rating variables from mild to severe — including raveling, potholes, amount of trenches, and base failures. These factors are entered into the StreetSaver program and a PCI is calculated. All staff who evaluate street conditions and pavement distresses have multiple years of experience and have been trained by MTC. While staff uses the PCI scores to prioritize streets, staff also takes into consideration additional information including coordination with Utilities projects and the Office of Transportation planned striping improvements, and whether the street has bike lanes or is a bicycle boulevard. Staff also tries to group multiple streets in a neighborhood whenever possible, so that construction is not occurring over multiple years if it can be avoided. Additionally, each block has its own estimated repair cost, which impacts how many streets can be included in each project given the annual funding amounts. FISCAL/RESOURCE IMPACT Monthly appropriations from the State Controller's Office will begin in July 2024 for Palo Alto's Fiscal Year 2025 RMRA funding. Ongoing funding is estimated to be $1.7 million annually. The $1,753,076 in SB 1 funding for Fiscal Year 2025 is recommended to be appropriated in the Street Maintenance capital project (PE -86070) as part of the Fiscal Year 2025 Proposed Capital Budget and subject to Council's adoption of the Fiscal Year 2025 Capital Budget, currently scheduled for June 17, 2024. Funding from RMRA in future fiscal years will be recognized and appropriated as part of the annual Capital budget process. STAKEHOLDER ENGAGEMENT All streets have been coordinated with the City's Utilities Department and the Office of Transportation to minimize the cutting of newly resurfaced streets. Additionally, staff reviews the proposed five-year paving plan streets annually with the Pedestrian and Bicycle Advisory Committee (PABAC), with an emphasis on the streets included in the first year of the plan. Recognizing the importance of bicycle safety as a factor in selecting the streets for the annual repaving project, staff additionally reviewed the five-year paving plan with PABAC's Repaving Subcommittee in February 2024. ENVIRONMENTAL REVIEW The adoption of this resolution does not meet the definition of a project under Public Resources Code Section 21065, thus no environmental assessment under the California Environmental Quality Act is required. Item 6: Staff Report Pg. 2 Packet Pg. 49 of 254 Item 6 Item 6 Staff Report ATTACHMENTS Attachment A: SB 1 FY2025 Resolution Attachment B: FY2025 Project Street List APPROVED BY: Brad Eggleston, Director Public Works/City Engineer Item 6: Staff Report Pg. 3 Packet Pg. 50 of 254 Item 6 Attachment A - SB1 FY2025 Draft Resolution A Not Yet Approved Resolution No. Resolution of the Council of the City of Palo Alto to Adopt a List of Projects for Fiscal Year 2024-2025 Funded by SB 1: The Road Repair and Accountability Act of 2017 RECITALS A. Senate Bill 1 (SB 1), the Road Repair and Accountability Act of 2017 (Chapter 5, Statutes of 2017) was passed by the Legislature and Signed into law by the Governor in April 2017 in order to address the significant multi -modal transportation funding shortfalls statewide; and B. SB 1 includes accountability and transparency provisions that will ensure the residents of the City of Palo Alto (City) are aware of the projects proposed for funding in our community and which projects have been completed each fiscal year; and C. The City must adopt a list of all projects proposed to receive funding from the Road Maintenance and Rehabilitation Account (RMRA), created by SB 1 by resolution, which must include a description and the location of each proposed project, a proposed schedule for the project's completion, and the estimated useful life of the improvement; and D. The City, will receive an estimated $1,753,076 in RMRA funding in Fiscal Year 2024-2025 from SB 1; and E. This is the seventh year in which the City is receiving SB 1 funding which enables the City to continue essential road maintenance and rehabilitation projects, safety improvements, repairing and replacing aging bridges, and increasing access and mobility options for the traveling public that would not have otherwise been possible without SB 1; and F. The City used a Pavement Management System to develop the SB 1 project list to ensure revenues are being used on the most high -priority and cost-effective projects that also meet the community's priorities for transportation investment; and G. The funding from SB 1 will help the City maintain and rehabilitate various streets throughout the City this year and many similar projects into the future; and H. The 2018 California Statewide Local Streets and Roads Needs Assessment found that the City's streets and roads are in "excellent" condition and this revenue will help us maintain the overall quality of our road system and implement complete streets projects over the next decade; and The SB 1 project list and overall investment in our local streets and roads infrastructure with a focus on basic maintenance and safety, investing in complete streets infrastructure, and using cutting -edge technology, materials and practices, will have significant positive co -benefits statewide. NOW, THEREFORE, the Council of the City of Palo Alto RESOLVES as follows: SECTION 1. The foregoing recitals are true and correct. 180321 cc 0260111 Item 6: Staff Report Pg. 4 Packet Pg. 51 of 254 Item 6 Attachment A - SB1 FY2025 Draft Resolution A Not Yet Approved SECTION 2. The City of Palo Alto hereby adopts the following list of streets planned to be funded in -part or solely with fiscal year 2024-2025 with Road Maintenance and Rehabilitation Account revenues: FY 2025 Street Resurfacing Project includes pavement repair, sidewalk, valley gutter, curb and gutter replacement, upgraded curb ramps, and street paving. The following streets are included in the FY2025 Street Resurfacing Project: Addison Avenue (Alma Street to Middlefield Road), Chaucer Street (Palo Alto Avenue to City Limits), Downing Lane (Forest Avenue to Homer Avenue), Edgewood Drive (Channing Avenue to Edgewood Cul-de-sacl), Embarcadero Road (High Street to Under Pass), Embarcadero Road (Emerson Street to High Street), Embarcadero Road (Greer Road to Saint Francis Drive), Genevieve Court (Maddux Drive to End), Higgins Place (Colorado Avenue to End), Kendal Avenue (Josina Avenue to La Donna Avenue), New Mayfield Lane (Sedro Lane to Mimosa Lane), Ortega Court (East Meadow Drive to End), San Antonio Road (Narrow to Metering Station), University Avenue (Webster Street to Middlefield Road), University Avenue (Stanford University to The Circle). The estimated useful life is 30 years. Construction of FY2025 Street Resurfacing Project will start in Fall 2024 and be completed in Summer 2025. // // // // // // // // // // // // // /- 180321 cc 0260111 Item 6: Staff Report Pg. 5 Packet Pg. 52 of 254 Item 6 Attachment A - SB1 FY2025 Draft Resolution A Not Yet Approved SECTION 3. The Council finds that the adoption of this resolution does not meet the definition of a project under Public Resources Code Section 21065, thus no environmental assessment under the California Environmental Quality Act is required. INTRODUCED AND PASSED: AYES: NOES: ABSENT: ABSTENTIONS: ATTEST: City Clerk APPROVED AS TO FORM: Assistant City Attorney Mayor APPROVED: City Manager Director of Public Works Director of Administrative Services 180321 cc 0260111 Item 6: Staff Report Pg. 6 Packet Pg. 53 of 254 Item 6 FY2025 OVERLAY LIST AttachmentB-FY2025 Project Street List L. FY 2025 Overlay (July 2024 - June 2025) Street From Street To Street PCI Addison Avenue Alma Street High Street 50 Addison Avenue High Street Emerson Street 60 Addison Avenue Emerson Street Ramona Street 50 Addison Avenue Ramona Street Bryant Street 50 Addison Avenue Bryant Street Waverley Street 50 Addison Avenue Waverley Street Cowper Street 50 Addison Avenue Cowper Street Webster Street 50 Addison Avenue Webster Street Middlefield Road 50 Chaucer Street Palo Alto Avenue City Limits 39 Downing Lane Forest Avenue Homer Avenue 40 Edgewood Drive Channing Avenue Edgewood Cul-de-sac3 30 Edgewood Drive Edgewood Cul-de-sac3 Edgewood Cul-de-sac2 28 Edgewood Drive Edgewood Cul-de-sac2 Edgewood Cul-de-sacl 30 Embarcadero Road High Street Alma Street 34 Embarcadero Road Alma Street Under Pass 13 Embarcadero Road Emerson Street High Street 29 Embarcadero Road Greer Road Wildwood Lane 56 Embarcadero Road Wildwood Lane Saint Francis Drive 54 Genevieve Court Maddux Drive End 54 Higgins Place Colorado Avenue End 44 Kendall Avenue Josina Avenue La Donna Avenue 92 New Mayfield Lane Sedro Lane Mimosa Lane 45 Ortega Court East Meadow Drive End 53 San Antonio Road Narrow Divider 4 San Antonio Road Divider E. Bayshore Road 4 San Antonio Road E. Bayshore Road Metering Station 27 University Avenue Webster Street Byron Street 50 University Avenue Byron Street Middlefield Road 50 University Avenue Stanford University The Circle 48 Average PCI: 43 Item 6: Staff Report Pg. 7 Packet Pg. 54 of 254 Item 7 Item 7 Staff Report City Council Staff Report From: City Manager CITY O F Report Type: CONSENT CALENDAR PALO Lead Department: Utilities ALTO Meeting Date: May 20, 2024 Staff Report: 2403-2746 TITLE Approval of Purchase Order 4524000375 with Meiden American Switchgear for the Purchase of Seven (7) 60KV Circuit Breakers for the Colorado Substation in an Amount Not to Exceed $713,023 for FY 2024; CEQA Status: Exempt Under CEQA Guidelines Section 15302 (Replacement of Existing Structures) RECOMMENDATION Staff recommends that the City Council approve and authorize the City Manager or designee to execute Purchase Order 4524000375 with Meiden American Switchgear to procure seven (7) replacement 60KV vacuum power circuit breakers for Colorado Substation in the amount of $713,023 (Attachment A). BACKGROUND The circuit breaker is a device that interrupts high voltages and currents during switching or fault conditions on the sub -transmission system. These devices require regular maintenance and routine testing to ensure proper operation. The circuit breakers in Colorado Substation are operational, however, they have exceeded their normal life of 30-40 years. Replacement parts are no longer readily available, and one breaker of the same vintage experienced a major component failure and required replacement in 2017. Additionally, these breakers utilize 1,000 gallons of mineral oil as the interrupting medium. This oil requires regular maintenance pumping into temporary containers and extensive measures must be taken to prevent spills that can enter the adjacent Matadero Creek. Replacing the existing oil circuit breakers with vacuum breakers will permanently remove approximately seven thousand gallons of oil from the substation and thus reduce the risk of environmental contamination or pollution. For these reasons, staff recommends these breakers be replaced with modern circuit breakers that use vacuum as interrupting mediums. ANALYSIS The City's Utilities engineers evaluate the sub -transmission systems on an ongoing basis, including replacement of existing facilities. After a comprehensive evaluation of the sub - Item 7: Staff Report Pg. 1 Packet Pg. 55 of 254 Item 7 Item 7 Staff Report transmission system at the Colorado Substation and in alignment with the City's commitment to electrification, staff recommends the replacement of the oil circuit breakers at the Colorado Substation. The City's long-term electrification goal demands a proactive approach to ensure the reliability and efficiency of the transmission system. The outdated components at the Colorado Substation pose a potential risk to the system's performance, especially considering the anticipated increase in load as part of the City's Sustainability and Climate Action Plan (S/CAP) electrification initiative. Through the modernization efforts, the City is not only safeguarding the integrity of the substation but also future proofing infrastructure to meet the growing demands of an electrified city. This strategic recommendation aligns with industry best practices and positions the City to seamlessly integrate into the evolving energy landscape while upholding our commitment to providing a reliable and sustainable energy source for the community. Procurement Process City staff posted a formal request for quotation on December 19, 2023 on the City of Palo Alto's e -procurement website (OpenGov), notifying 2,891 providers with a bid opening date on January 24, 2024. The City received three (3) bids. DoubleTree Systems was rejected due to not meeting the required specifications. Morgan Ingland and Meiden American Switch Gear both quoted the same switch gear that met City specifications. Meiden American Switch Gear is the lowest bid. Item 7: Staff Report Pg. 2 Packet Pg. 56 of 254 Item 7 Item 7 Staff Report Below is the procurement summary table: Project Bid Name/Number RFQ 18 PURCHASE AND DELIVERY Purchase and Delivery of Seven (7) 72.5KV Substation Circuit Breakers RFQ 189908 Proposed Length of Project May 20, 2024 - May 8, 2025 Number of Bid Packages Downloaded by Contractors 4 Total Days to Respond to Bid 26 Mandatory Pre -Bid Meeting No Number of Company Attendees at Pre -Bid Meeting N/A Number of Bids Received 3 Base Bid Price Range $713,022.77 - $768,725.60 Public Link to Solicitation https://procurement.opengov.com/portal/palo-alto- ca/projects/87752 FISCAL/RESOURCE IMPACT Funding for the $713,023 to purchase the circuit breakers is available in the FY 2024 Electric CIP Budget under Capital Improvement Project EL -89044 (Substation Facilities Improvements.) STAKEHOLDER ENGAGEMENT Procurement of new 60 KV circuit breakers for City's substations does not involve or impact any stakeholders. ENVIRONMENTAL REVIEW This project is categorically exempt from the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines 15301 (repair, maintenance, of existing facilities) and 15302 (replacement or reconstruction of existing facilities). ATTACHMENTS Attachment A: Circuit Breakers Purchase Order 4524000375 APPROVED BY: Dean Batchelor, Director of Utilities Staff: Rick Baptist, Principal Electric Engineer Item 7: Staff Report Pg. 3 Packet Pg. 57 of 254 Vendor Address City of Palo Alto Purchasing and Contract Administration P.O.Box 10250 Palo Alto CA 94303 Tel:(650)329-2271 Fax:(650)329-2468 MEIDEN AMERICA SWITCHGEAR INC 2200 N OLD LAURENS RD GRAY COURT SC 29645 Tel: (949)852-1006 Ship Tn. Utilities Engineering City of Palo Alto 1007 Elwell Court Palo Alto CA 94303 Rill Tn. Utilities Engineering City of Palo Alto 1007 Elwell Court Palo Alto CA 94303 Item 7 Attachment A - Circuit Breakers PO 4524000375 Purchase Order P.O. NUMBER MUST APPEAR ON ALL INVOICES, PACKAGES, SHIPPING PAPERS AND CORRESPONDENCE PERTAINING TO THIS ORDER PO Number 4524000375 Date 03/07/2024 Vendor No. 108196 Payment Terms Payment Due 30 days FOB Point F.O.B Destination Ship via Vendor to ship bestway Required Date 05/08/2025 Buyer/Phone Renee Howard / 650-496-5900 Email renee.howard@cityofpaloalto.org DELIVERIES ACCEPTED ONLY BETWEEN 7:00 AM & 3:00 PM UNLESS OTHER ARRANGEMENTS ARE INDICATED HEREIN Item Material/Description Quantity UM Net Price Net Amount Award in accordance with RFQ189908 dated January 24, 2024 and Staff Report 2403-2746 May 6, 2024. 0010 72.5KV circuit breakers 7 EA 93,342.86 653,400.02 In accordance with specification for Outdoor, Vacuum, 72.5 KV, Separate -Pole, Dead -Tank, Dead -Front Circuit Breaker dated 11/21/2023. PM: Rick Baptist x6902 richard.baptist@cityofpaloalto.org Sub-Total ------------------------- 653,400.02 Sales Tax 59,622.75 * * * ORDERING VIA EMAIL * * * * * * * PRICE HAS BEEN QUOTED * * * * Total 713,022.77 Chief Procurement Officer THIS P.O. IS SUBJECT TO THE TERMS AND CONDITIONS STATED BELOW AND ON THE LAST PAGE SPECIFICATIONS - Any specification and /or drawings referred to and/or attached hereto are expressly made a part of this Purchase Order. DELIVERY - Please notify the City promptly if delivery cannot be made on or before the date specified. If partial shipment is authorized, so indicate on all documents. Complete packing lists must accompany each shipment. INVOICE - A separate invoice is required for each order. Send to address indicated above. Item 7: Staff Report Pg. 4 1 Packet Pg. 58 of 254 TERMS AND CONDITIONS OF PURCHASE Item 7 Attachment A - Circuit ACCEPTANCE/AGREEMENT: City of Palo Alto (City) reserves the right to reject any and all quotations, to waive any informalities, and, unless otherwise specified by Seller, to accept any item in a quotation. By accepting or filing this Purchase Order (P.O.), Seller agrees to the terms and conditions herein which shall prevail over any inconsistent provision in any form or other paper submitted by Seller. All shipments or services performed shall be deemed to have been made pursuant hereto. No other terms are acceptable. This P.O., including all specifications and drawings, shall constitute the entire agreement between the parties unless modified in writing by City. CITY'S PROPERTY: Seller agrees that the information, tools, jigs, dies, or materials, and drawings, patterns, and specification supplied or paid for by City shall be and remain City property and shall be held by Seller for City unless directed otherwise. Seller shall account for such items and keep them protected, insured, and in good working conditions without expense to City. DELIVERY: The terms of delivery are as stated on the reverse side hereof. The obligation of Seller to meet the delivery dates, specifications, and quantities set forth herein is of the essence of this P.O. No boxing, packing, or cartage charge will be allowed unless authorized by this P.O. Deliveries are to be made both in quantities and at times specified herein or, if not, such quantities and times are specified pursuant to City's written instruction. Items not delivered may be canceled without penalty to City. Shipments in greater or lesser quantity that ordered may be returned at Seller's expense unless written authorization is issued by City. PRICES: The price which Seller charges in filling this P.O. shall not be higher than Seller's most recent quote or charge to City for such materials, supplies, services and/or installations unless City expressly agrees otherwise in writing. Notwithstanding the prices set forth the P.O. City shall receive the benefit of any general reduction in the price of any item(s) listed herein which may be made by Seller at any time prior to the last delivery of goods or services covered by this P.O. TERMINATION: City shall have the right to terminate this P.O. or any part thereof upon ten (10) days notice in writing to Seller. (1) Without ca...P City may terminate all or any part of this P.O. without cause. Any claim by Seller for damages due to termination without cause must be submitted to City within thirty (30) days after effective date of termination. (2) For f,ai cP If Seller fails to make any delivery in accordance with the agreed delivery date, delivery schedule, or otherwise fails to observe or comply with any of the other instructions, terms, conditions or warranties applicable to this P.O., City may, in addition to any other right or remedy provided by this P.O. or by law, terminate all or any part of this P.O. in writing without any liability of City with respect to Seller at any time during the term of this P.O. In the event of termination for cause, City may purchase supplies or services elsewhere on such terms or in such manner as City may deem appropriate and Seller shall be liable to City for any cost and other expenses incurred by City, which is charged to City. CHANGES: City shall have the right at any time by written notice via P.O. Change Order to Seller to make changes in the specifications, the quantity of items called for, delivery schedules, and requirements covering testing, packaging, or destination. Any claim by Seller for adjustment under this clause shall be deemed waived unless made in writing with then (10) days after receipt by Seller of notice of such change. Price increases or extensions of time for delivery shall not be binding on City unless evidenced by a P.O. Change Order issued by City's Purchasing Manager. INSPECTION: City shall have the right to inspect and approve or reject any materials, supplies, services and/or installations upon arrival of notice of completion prior to payment without regard to the manner of shipment, completion, or any shipping or price terms contained in this P.O. All materials, supplies, services and/or installations must be furnished as specified. (1) Defective, damaged, and nonconforming materials and/or supplies may be returned for credit or refund, at Seller's expense. City may charge Seller for all expenses of unpacking, examining, repacking and reshipping of such materials and/or supplies. (2) Defective, incorrect and nonconforming services and/or installations may be returned for credit or refund, at Seller's expense. All of the nhnww nofwithvranding,prior payw r t hhy Tity WARRANTY: Seller expressly warrants that all Breakers P0 installations covered by this P.O. shall: (1) conform to the specifications, drawings, samples, or other descriptions specified by City or if none are so specified, to Seller's standard specification or the standards of the ASTM or ANSI or other national standard organizations; (2) be new and unless specified to the contrary on the face hereof, will be free from defects in material and workmanship and will be free of all liens and encumbrances and will conform to any affirmation of facts made on the container or label; (3) be adequately contained, packaged, marked, labeled and/or provided in compliance with all applicable federal and state laws and regulations (including materials deemed hazardous); (4) be performed within the rules and regulations of the Occupational Safety and Health Act of 1970 (as amended); (5) be produced or transferred or disposed of as required by federal and state laws and regulation under the conditions of the Toxic Substances Control Act; the Hazardous Materials Control and Hazardous Waste Regulations; and other toxic laws and programs. Seller further expressly agrees to protect, indemnify, and hold harmless City, its employees and agents for any loss, damage, fine, liability, fee (including reasonable charges and fees) or expense arising in connection with or resulting from Seller's failure to furnish materials or supplies or perform services that conform with any warranty contained herein. (6) have good marketable title. GOVERNING LAW: This P.O. shall be governed by the laws of the State of California. INDEPENDENT CONTRACTOR, INSURANCE: Seller certifies, by acceptance, that he/she is an independent contractor. Seller shall protect, defend, and indemnify and hold City harmless against all damages, liability, claims, losses and expenses (including attorney's fees) arising out of , or resulting in any way from Seller's negligence in providing the goods or services purchased hereunder or from any act or omission of Seller, its agents, employees, or subcontractors, Seller shall maintain such public liability insurance, including contractual liability, automobile and general public liability, (including non -owned automobile liability) Worker's Compensation, and employer's liability insurance as well adequately protect City against such damage, liabilities, claims, losses, and expenses (including attorney's fees). Seller agrees to submit certificates of insurance, evidencing its insurance coverage when requested by City. EQUAL OPPORTUNITY CLAUSE: By acceptance of this P.O., Seller certifies it is in compliance with the Equal Opportunity Clause required by Executive Order 11246, as amended, and the Palo Alto Municipal Code, as amended, including Affirmative Action Compliance Programs for Veterans; Handicapped; and Minority Business, and other equal opportunity programs. FORCE MAJEURE: City may delay delivery or acceptance occasioned by causes beyond its control. Seller shall hold such materials, supplies, services and or installations at the direction of City and shall deliver them when the cause affecting the delay has been removed. City shall be responsible only for Seller's direct additional costs in holding the goods or delaying performance of this P.O. and City's request. Seller shall also be excused if delivery is delayed by unforeseen events beyond its reasonable control, provided Seller notifies City as soon as they occur. City may cancel this P.O. if such delay exceeds thirty (30) days from the original delivery date. Seller shall use its best efforts to grant preference to this P.O. over those of other customers, which were placed after this P.O. AUTHORITY OF AGENT OR FACTOR: Seller represents that, whenever it executes this P.O. on behalf of a third party as an agent or factor, it shall disclose the existence of the agency or factor relationship to City. Seller shall be deemed to have the legal authority to enter into this P.O. with City on behalf of the third party. INTERPRETATION OF CONTRACT DOCUMENTS: In the event of a conflict between the terms of this P.O. and the attached specification with respect to any obligation of Seller, the provision which impose the greater obligations upon Seller shall prevail. CITY OF PALO ALTO PAGE 1 OF 3 GDS Rev. 06/22/2016 Item 7: Staff Report Pg. 5 Packet Pg. 59 of 254 TERMS AND CONDITIONS OF PURCHASE Item 7 Attachment A - Circuit ENVIRONMENTALLY PREFERRED PURCHASING REQUIREMENTS: Seller agrees to comply with the City's Environmentally Preferred Purchasing Requirements. (1) Ha,ardni a Wnstpr Seller shall take -back all spent or otherwise discarded hazardous products sold to the City by the Seller if the spent or discarded products are classified as hazardous or universal wastes by State or Federal regulations. Seller shall provide convenient collection and recycling services (or disposal services if recycling technology is unavailable) for all universal wastes, which originate from the Vendor. Hazardous waste manifests or bills of lading must be provided to City staff upon request. Recycling and reuse of hazardous wastes must occur within the United States. Universal waste lists and information are available www.dtsc.ca.gov/HazardousWaste/UniversalWaste/. A hazardous waste list is available at http://www.calrecycle.ca.gov/LEA/Training/wasteclass/yep.htm. Additional information can be obtained by contacting the City of Palo Alto Hazardous Waste Department at (650) 496-6980. (2) Tarn Wasto and Pnlli ifinn Pravantinn Per Palo Alto City Council policy, the City is targeting to achieve Zero Waste by 2021. The City must also meet Municipal Regional Stormwater Permit requirements requiring no visible impact from litter via stormdrains by 2022. To that end the vendor, manufacturer and or contractor must individually or collaboratively comply with the waste reduction, reuse and recycling requirements of the City's Zero Waste and Pollution Prevention Programs. Seller acknowledges and agrees that if Seller fails to fully and satisfactorily comply with these requirements, the City will suffer, as a result of Seller's failure, substantial damages which are both extremely difficult and impracticable to ascertain. Therefore, the Seller agrees that in addition to all other damages to which the City may be entitled, in the event Seller fails to comply with the below requirements Seller shall pay City as liquidated damages the amounts specified below. The liquidated damage amount is not a penalty but considered to be a reasonable estimate of the amount of damages City will suffer as a result of such non-compliance. • Sellers shall adhere to the standard that all printed materials provided to the City that are generated from a personal computer and printer including, proposals, quotes, invoices, reports, and public education materials shall be double -sided, printed on a minimum of 30% post -consumer content paper or greater unless otherwise approved by the City's Environmental Services Division (650) 329-2117. Materials printed by a professional printing company shall be a minimum of 30% post -consumer material or greater and printed with vegetable based inks. Liquidated damages of $30 per document will be assessed by City for failure to adhere to this requirement. • All paper packaging must be Forest Stewardship Council (FSC) Certified. • All primary, secondary and shipping (tertiary) packaging be minimized to the maximum extent feasible while protecting the product being shipped. • All primary, secondary and shipping packaging shall be recyclable in the City's recycling program. A complete list of items accepted for recycling are found at www.zerowastepaloalto.org or by calling (650) 496-5910. If any portion is received that does not meet this requirement, liquidated damages of $235 or a minimum of $50 if the combined product and shipping cost is $235 or less will be assessed by City for failure to adhere to this requirement. • Expanded foam plastics (e.g., foam or cushion blocks, trays, packing 'peanuts'), such as but not limited to polystyrene (aka Styrofoam[tm]), polypropylene, or polyurethane shall not be used as primary, secondary or tertiary/shipping packaging with the following exceptions: o Primary packaging made from these materials may be used if the vendor, manufacturer, contractor individually or collaboratively does one of the following: (a) takes the material back at the City's convenience and at no cost to the City, or (b) pays the City of Palo Alto's disposal costs via payment of liquidated damages of $235, or a minimum of $50 if the combined product and shipping cost is $235 or less. o Bioplastics that meet ASTM D6400 standards for compostability may be accepted with approval from the City's Environmental Services Division subject to local municipal compost facility requirements. o If approved by the City's Environmental Services Division, a packaging requirement may be waived if no other viable packaging alternative exists. • Reusable/returnable pallets shall be used an additional Breakers PO 4524000375 cost to the City. Seller shall provide documentation upmrregvesrznsvnng-reuse of pallets and/or recycling of broken pallets. Liquidated damages of $262 or a minimum of $50 if the combined product and shipping cost is $262 or less will be assessed by City for failure to adhere to this requirement. (3) Fnorny and Wafer FffiniannvL Seller shall provide products with an ENERGY STAR, Water Sense or State of California standard rating, whichever is more efficient, when ratings exist for those products. A life cycle cost analysis shall be provided to the City upon request and shall at minimum include: first cost, operating costs, maintenance costs, and disposal costs. Contacts for additional information about City of Palo Alto Hazardous Waste, Zero Waste and Utilities programs: Hazardous Waste Program (Public Works) (650) 496-6980 Zero Waste Program (Public Works) (650) 496-5910 Watershed Protection (650) 329-2117 Energy Efficiency (650) 496-2244 (4) I^niadafad fluwups Seller agrees that failure to comply with the City's Environmentally Preferred Purchasing Requirements will result in Liquidated Damages, according to the table marked Liquidated Damages on page 3 of this P.O. CITY OF PALO ALTO PAGE 2 OF 3 GDS Rev. 06/22/2016 Item 7: Staff Report Pg. 6 Packet Pg. 60 of 254 TERMS AND CONDITIONS OF PURCHASE Item 7 Attachment A - Circuit reakers PO 452400037 NONCOMPLIANCE WITH ENVIRONMENTALLY PREFERRED PURCHASING REQUIREMENTS, LIQUIDATED DAMAGES: The following table lists the events that constitute breaches of the Agreement's standard of performance warranting the imposition of liquidated damages; the acceptable performance level, and the amount of liquidated damages for failure to meet the contractually required standards of performance. Event of Non -Performance Acceptable Performance Level Liquidated Damage Amount (Allowed events per Fiscal Year) Recycled Paper Use Failure to use 30% recycled content paper 1 $30 per each document Recyclable Packaging Materials Failure of Seller to use secondary and shipping packaging that is recyclable in 1 $235 or a minimum of $50 if the combined product the City's recycling program. and shipping cost is $250 or less will be incurred if this is not adhered to. Expanded Foam Plastics Unapproved use of expanded foam plastics for secondary or shipping 0 $235 or a minimum of $50 if the combined product packaging and shipping cost is $235 or less Pallet Use 1 $262 or a minimum of $50 if the combined product Failure of Seller to take -back and reuse pallets, recycling only broken pallets, and shipping cost is $2 or less at no additional cost to the City. CITY OF PALO ALTO PAGE 3 OF 3 GDS Rev. 06/22/2016 Item 7: Staff Report Pg. 7 Packet Pg. 61 of 254 Item 8 Item 8 Staff Report CITY OF PALO ALTO City Council Staff Report From: City Manager Report Type: CONSENT CALENDAR Lead Department: Administrative Services Meeting Date: May 20, 2024 Report #:2403-2822 TITLE Adoption of Resolution Suspending the Levy of Assessments on the Downtown Palo Alto Business Improvement District (BID) Assessment for Fiscal Year 2025; CEQA status — not a project. RECOMMENDATION Staff recommends that Council adopt the attached resolution suspending the levy of the Palo Alto Downtown Business Improvement District assessment for Fiscal Year (FY) 2025. (Attachment A) BACKGROUND The Palo Alto City Council established the Palo Alto Downtown Business Improvement District (BID) in 2004 pursuant to the California Parking and Business Improvement Area Law to maintain economic vitality and physical maintenance of the Palo Alto Downtown business district. The Council appointed the Palo Alto Downtown Business and Professional Association (PADBPA), a non-profit corporation, as the advisory board and administrator of the BID. PADBPA, acting through its independent Board of Directors, has historically advised the Council on the method and basis for levy of assessments in the BID and has managed the expenditure of revenues derived from the assessments. In light of organizational changes at PADBPA and changes resulting from the COVID-19 pandemic, and with the concurrence of the City Council, the City allowed the contract with PADBPA to expire on June 30, 2020. Council directed staff to work with the Palo Alto Chamber of Commerce and PADBPA to develop options for the transition of the management of the BID. The Chamber and PADBPA identified a need to build support for a resumption of the BID assessment within the business community before collecting a new assessment and establishing a new management agreement. On March 1, 2022 the Finance Committee discussed options for the FY 2023 Business Registry Item 8: Staff Report Pg. 1 Packet Pg. 62 of 254 Item 8 Item 8 Staff Report Certificate (BRC) and BID processes (CMR 139021). The Committee reviewed three options for the BRC and BID and forwarded their recommendation to the City Council on April 4, 2022, CMR 139012, to restore the BRC in the 2022-2023 collection timeframe, using the established structure used in pre -pandemic years, while continuing the pause of BID assessments again in FY 2023. The Palo Alto City Council supported the Finance Committee recommendation and approved a resolution to not levy an assessment for FY 2023. The BID was subsequently paused again in FY 20243. Staff continues this recommendation for FY 2025. ANALYSIS Staff recommends that the Council approve the recommendation for FY 2025 with the intention to not collect BID assessments for an additional year. In 2022 Council directed staff to work with the PADBPA and the Chamber to provide options on the future management of the BID. City staff are currently working on developing alternatives for a new streetscape design on University Avenue, in consultation with stakeholders and the community more broadly. This work is expected to generate a plan that will require businesses in the vicinity to invest in capital and potentially operating costs for implementation. Based on Council direction in December 2023, in addition to the long-term streetscape plan, options for near -term improvements in the downtown district are being reviewed. These may include enhanced cleaning and maintenance as well as minor infrastructure improvements. Staff anticipates finalizing the plan for these improvements in the first half of next fiscal year and subsequently engaging the BID stakeholders to discuss re -initiating BID assessments in FY 2026 to fund these enhanced services. Thus, staff recommends suspending the BID assessments for one additional year. Additionally, after the plan for long-term streetscape improvements has been approved and a funding plan for capital improvements has been finalized, staff will evaluate the appropriate ongoing funding framework to support the long-term vision for downtown including, but not limited to, enhanced cleaning and maintenance, landscaping, branding, and events. Staff anticipates bringing forward any recommended changes to the BID for Council consideration in 2026. Finally, given the uncertainty surrounding PADBPA, a new advisory board for the BID may be necessary. The decision to not levy assessments for in FY 2025 is consistent with Council's 1 03/02/2022 Finance Committee, Review the Business Registry Certificate and Business Improvement District FY 2023 Processes and recommendation to City Council on the Renewal Processes https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/agendas-minutes/finance- co m m ittee/2022/20220301/20220301 pfcs-linked. pdf 2 04/04/2022 City Council, Approve Finance Committee Recommendation for FY 2023 to (a) Return to the Customary Pre -Pandemic Business Registry Certificate Requirement and Fee, and (b) Pause for One Year the Downtown Business Improvement District Assessment Program https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/agendas-minutes/city-council-agendas- m i n utes/2022/20220404/20220404pccs m a m e n d ed I i n ked 1. pdf 3 04/14/2023 City Council, PUBLIC HEARING: Adoption of a Resolution Providing that the City will Not Levy Assessments for the Downtown Business Improvement District for FY 2024. https://cityofpaloaIto.primegov.com/meetings/Item W ithTemplateType?id=1974&meetingTemplateType=2 Item 8: Staff Report Pg. 2 Packet Pg. 63 of 254 Item 8 Item 8 Staff Report decisions4. In addition, based on further review of the Parking and Business Improvement Area Law of 1989, staff has determined that no public hearing on the proposed resolution is required if no assessment will be levied. If and when the Council determines to resume levy of the BID assessment for future years, the Council will need to conduct a noticed public hearing prior to doing so. FISCAL/RESOURCE IMPACT The BID is set up as a separate fund within the City's budget. In prior years, when active, the BID has required a General Fund subsidy as collected assessments fell short of the costs of operating the BID. The subsidy amounted to $70,000 in FY 2020. Historically, the City acts as the collection agent for BID revenues and reimburses PADBPA's expenses after receipt and verification of invoices. With the BID being paused, an estimated $80,000 will not be collected and no BID business activities will be provided. In the past business activities have included the streetlight banner program, Lytton Plaza enhancements, and summer concerts among others. In prior years, staffing resources have included staff time from the City Manager's Office and Administrative Services Department to provide oversight to the BID, administer the contract with HdL (the third -party administrator for both BID and BRC), liaise with stakeholders, and preparing the annual reauthorization. STAKEHOLDER ENGAGEMENT Staff continues to discuss the potential options for the future of the BID with downtown business stakeholders, including former leaders of PADBPA and the Chamber of Commerce. In FY 2025, staff anticipates working with stakeholders to explore options for new management agreements for the BID. ENVIRONMENTAL REVIEW The proposed action is not a project for the purposes of the California Environmental Quality Act. ATTACHMENTS Attachment A: Resolution Declaring Intention to Not Levy Assessments APPROVED BY: Lauren Lai, Administrative Services Director 4 Prior Council Decisions: FY 2021 (CMR 11219) and in FY 2022 (CMR 12255) in response to the pandemic, along with the Finance Committee's recommendation to not levy assessments for FY 2023 (CMR 13901) and FY 2024 (CMR 2303-1184). Item 8: Staff Report Pg. 3 Packet Pg. 64 of 254 N Item 8 NOT YET ADOPTED Attachment A - Resolution Declaring Resolution No. Intention to Not Levy Assessments Resolution of the Council of the City of Palo Alto Declaring Its Intention to Not Levy Assessments Against Businesses Within the Downtown Palo Alto Business Improvement District for Fiscal Year 2025 RECITALS A. The Parking and Business Improvement Area Law of 1989 (the "Law"), California Streets and Highways Code Sections 36500 et seq., authorizes the City Council to levy an assessment against businesses within a parking and business improvement area which is in addition to any assessments, fees, charges, or taxes imposed in the City. B. Pursuant to the Law, in 2004 the City Council adopted Ordinance No. 4819 establishing the Downtown Palo Alto Business Improvement District (the "District") in the City of Palo Alto. C. The City Council, by Resolution No. 8416, appointed the Board of Directors of the Palo Alto Downtown Business & Professional Association ("PADBPA"), a California nonprofit mutual benefit corporation, to serve as the Advisory Board for the District (the "Advisory Board"). D. Beginning in March of 2020 and continuing through the present, Downtown businesses have been substantially impacted by the COVID-19 pandemic, the public health measures taken to reduce the spread of the virus, and the resulting statewide economic contraction. In recognition of these impacts, the City Council refunded fiscal year 2020 BID assessments and declined to levy assessments in fiscal years 2021, 2022, 2023, and 2024. E. The Advisory Board for the District is currently defunct, and therefore the Council has not had the opportunity to review or approve the annual report on the District's improvements and activities, as well as the proposed assessments. F. In recognition of the challenges continuing to effect downtown businesses and understanding the need for a new direction on BID management, the City Council has determined not to levy BID assessments for fiscal year 2025 (July 1, 2024 through June 30, 2025). G. Because no assessment is proposed for fiscal year 2025, a public hearing on the assessment is not required under the Parking and Business Improvement Area Law of 1989. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PALO ALTO RESOLVES AS FOLLOWS: SECTION 1. The Council hereby adopts the above Recitals as findings of the Council. SECTION 2. Based on the findings herein, no assessments shall be levied for the District for fiscal year 2025 (July 1, 2024 through June 30, 2025). The District 1 267_20230411_t524 Item 8: Staff Report Pg. 4 Packet Pg. 65 of 254 T Item 8 NOT YET ADOPTED Attachment Resolotion A- ution Declaring Intention to Not Levy shall remain in effect and the Council will consider the levy of assessments Assessments years. SECTION 3. The Council finds that the adoption of this Resolution does not meet the definition of a project under Section 21065 of the California Environmental Quality Act and, therefore, no environmental review is required. INTRODUCED AND PASSED: AYES: NOES: ABSENT: ABSTENTIONS: ATTEST: City Clerk APPROVED AS TO FORM: Assistant City Attorney Mayor City Manager Director of Administrative Services 267_20230411_ts24 2 Item 8: Staff Report Pg. 5 Packet Pg. 66 of 254 Item 9 Item 9 Staff Report City Council Staff Report From: City Manager CITY O F Report Type: CONSENT CALENDAR PALO Lead Department: Planning and Development Services ALTO Meeting Date: May 20, 2024 Report #:2404-2888 TITLE Approval of a Budget Amendment in the General Fund for the Planning and Development Services Department's Deposit Based Fee Program for Private Development Studies in the Amount of the Net Zero $300,000: CEQA — Not a Project RECOMMENDATION Staff recommends that the City Council amend the Fiscal Year 2024 Budget Appropriation Ordinance (Requires 2/3 Vote) for the General Fund by: a. Increasing Permits and Licenses in the Planning and Developments Services Department by $300,000; and b. Increasing Contract Services Planning and Developments Services Department by $300,000. BACKGROUND The Planning and Development Services Department provides a service for private development projects using full cost recovery deposit -based contracts. The department utilizes the expertise of outside consultants to augment and expedite entitlement studies such as historic, environmental, and zoning compliance. Applicants pay upfront for contract services related to their project, and funding is held in a deposit account until services are performed. The number of projects that use this program fluctuates annually, and associated revenue and expense are realized in the Planning and Development Services operating budget when incurred. Due to the highly specialized nature of these studies, City employees lack in-house expertise, necessitating a net zero budget action to ensure continuity of service. No general fund monies are utilized for this program and all expenditures are supported by offsetting revenue. ANALYSIS The planning review application' outlines the City's cost recovery policies and procedures. This program provides the City with additional resources to meet the development needs of the community by offering applicants the option to use outside consultant services related to 1 Application: https://www.cityofpaloalto.org/files/assets/public/v/7/development-services/planning-review/1.- single-family-and-duplexes/planning-app-form 07122023.pdf Item 9: Staff Report Pg. 1 Packet Pg. 67 of 254 Item 9 Item 9 Staff Report historic, environmental, and compliance review studies for private development projects. Applicants opting for the program submit funds to cover anticipated program costs, including a twenty -five -percentage charge for the City's administration of the program. Private development services related contracts are exempted from competitive solicitation per Municipal Code Section 2.30.3602 as they are funded wholly by private developers. Therefore, contracts do not come before the City Council. Firms conducting these studies are selected based on their experience and expertise, with the City receiving approximately 50 to 75 projects annually, ranging from single-family dwellings to mixed -use projects. This action is needed now as several recently submitted development projects require environmental reviews which were not anticipated during the annual midyear budget review. These include 3265 El Camino Real, 3980 El Camino Real, 4074 El Camino Way, 824 San Antonio Road, and 3150 El Camino Real. FISCAL/RESOURCE IMPACT Staff is requesting City Council approval of a net zero budget amendment in the General Fund to increase both revenue and expenses by $300,000. Funds to cover all costs are received from applicants utilizing the program, resulting in no impact to the General Fund. This amendment requires a 2/3 approval vote by the City Council, as stipulated by Municipal Code regulations. STAKEHOLDER ENGAGEMENT Given that this is an internal budgeting action, stakeholder involvement has primarily been limited to the Planning and Development Services and Administrative Services departments. ENVIRONMENTAL REVIEW Action on this item does not constitute a project. APPROVED BY: Jonathan Lait, Planning and Development Services Director 2 Exemptions: https://codelibrary.amlegaI.com/codes/paloalto/latest/paloalto ca/0-0-0-61990 Item 9: Staff Report Pg. 2 Packet Pg. 68 of 254 Item 10 Item 10 Staff Report City Council Staff Report From: City Manager CITY O F Report Type: CONSENT CALENDAR PALO Lead Department: Human Resources ALTO Meeting Date: May 20, 2024 Report #:2403-2780 TITLE Adoption of Revised Management and Professional Salary Schedule to Adjust the Salary of One Classification; Adoption of Administrative Revisions to the Management and Professional Compensation Plan; and Adoption of a Side Letter and Revised International Association of Fire Fighters, Local 1319 Salary Schedule for One New Classification; CEQA Status - Not a project RECOMMENDATION Staff recommends that Council adopt: 1. A revised Management and Professional Salary Schedule to adjust the salary for one classification, Utilities Chief Operating Officer, effective upon adoption. (Attachment A) 2. A revised Management and Professional Compensation Plan to incorporate four administrative modifications. (Attachment B) 3. An International Association of Fire Fighters, Local 1319 (IAFF) Memorandum of Agreement (MOA) Side Letter (Attachment C) and revised Salary Schedule to include the salary for new Fire Life Safety Inspector, non -sworn classification effective upon adoption. (Attachment D) BACKGROUND 1. Management and Professional salary reconciliation of Utilities Chief Operating Officer classification. The purpose of this classification is to supervise division heads (Assistant Directors), develop and implement department and City policies and cross division cost sharing strategies. This position is responsible for ensuring compliance of Utility Operations with federal, various state, local and regulatory standards, and implements a cohesive vision of engineering, operations support, labor relations and other project and business development strategy to lead the Utilities department in the execution of critical and transformative operational strategic initiatives. Item 10: Staff Report Pg. 1 Packet Pg. 69 of 254 Item 10 Item 10 Staff Report The Utilities Chief Operating Officer reports to the Utilities Director and is a critical role to ensure the continuity of the Utilities services and the development of leadership across all divisions. This classification is vacant and has not been utilized since May of 2019 to use salary savings for employee development opportunities. The salary of the classification has not been updated since 2019; therefore, an update to the Salary Schedule is needed to bring the salary of the classification into alignment with Council -approved salaries of other Management and Professional classifications. 2. Administrative Updates to Management and Professional Compensation Plan The unrepresented Management and Professional personnel are provided the compensation and benefits outlined in the Management and professional Compensation Plan. This plan is periodically updated with revisions both administrative in nature and to address changes in compensation and benefits. Staff recommends four Plan modifications/additions as described in greater detail in the Analysis section below. 3. International Association of Fire Fighters, Local 1319 (IAFF) — New "Fire Life Safety Inspector" non -sworn In Fiscal Year 2023, City Council adopted a budget adjustment to provide for additional Fire Inspector positions to aid the department in completing the state mandated annual fire and life safety inspections. This action was anticipated to be cost neutral as inspection revenue was projected to align with expenses. City staff and IAFF met and conferred on the addition of these positions and agreed to allow for the City to hire either sworn fire life safety inspectors or non -sworn fire life safety inspectors to ensure all existing buildings are adhering to fire and evacuation plans and drills. This report includes an updated Salary Schedule and MOA Side Letter incorporating the new "Fire Life Safety Inspector" non -sworn classification. ANALYSIS 1. Staff recommends adopting the revised Management and Professional Salary Schedule to adjust the salary for the classification of.• Utilities Chief Operating Officer. This administrative adjustment is to reconcile the salary for this vacant classification that has not been updated since 2019. The maximum salary is recommended to be increased from $260,250 to $333,341. The adjustment in the salary range is equivalent to the previously Council -approved adjustments made to similar management and professional classifications since 2019 and will place the Utilities Chief Operating Officer salary directly between the Utilities Assistant Directors and the Utilities Director. Item 10: Staff Report Pg. 2 Packet Pg. 70 of 254 Item 10 Item 10 Staff Report 2. Staff recommends adopting four administrative revisions to the Management and Professional Compensation Plan Four changes to the Plan are recommended and summarized below; the specific red -line changes can be seen in Attachment B. Hiring Incentive: Provide authority for Council Appointed officers to provide a one- time hiring incentive for critical Management and Professional personnel vacancies as needed. This would cost neutral option will be paid in accordance with internal operating policies & procedures under the City Manager's authority, ensuring equitable standards for all departments. This discretionary pay will create an additional tool to the recruitment for key personnel to accomplish the Council established priorities, without adding to the Department's ongoing budget. b. Working Above Classification: Amend the working out of class (also known as "Working Above Classification") provision to provide guidance to managers when assigning working out of class. When providing working above classification opportunities, managers should consider all qualified and interested individuals within a work group. The guidance allows for a consistent approach across departments and work groups when assigning working out of classification duties. Such change helps ensure growth opportunities for all qualified and interested staff. Administrative restoration: At -Will Employees provision: Administrative restoration of language inadvertently removed from the Management and Professional Compensation Plan document regarding severance payments. When a revised Management and Compensation Plan was taken to Council for adoption on December 13, 2021, language was mistakenly removed; the language being restored outlines the severance payment process for At -Will employees who are terminated or asked to resign. d. Discontinue stipend for Mayor/Vice Mayor: In compliance with state law, Council members designated as the Mayor or Vice Mayor will no longer be eligible for this stipend, as all Councilmembers compensation will be increased to the maximum allowed by the City Charter and state law, effective January 1, 2025. 3. Staff recommends adopting the International Association of Fire Fighters, Local 1319 (IAFF) MOA Side Letter and Salary Schedule to add the Fire "Life Safety Inspector" non -sworn classification. Staff met and conferred with IAFF to incorporate the non -sworn classification of Fire Life Safety Inspector to provide flexibility for the City to hire either sworn or non -sworn staff to conduct Item 10: Staff Report Pg. 3 Packet Pg. 71 of 254 Item 10 Item 10 Staff Report the State mandated fire and life safety inspections. Non -sworn personnel in these classifications are differentiated from the sworn classification in the latter may be called upon to perform life threatening firefighting activities in an emergency and must have prior experience as a Fire Fighter. The Side Letter and salary schedule (Attachment C) outline the compensation and benefits specific to the new classification. The salary and benefits are in alignment with non - sworn staff throughout the City. Because the classification will not perform any firefighting activities or perform any life-saving or rescue procedures, the compensation and benefits are at a reduced level from those of the Sworn Fire Inspector. Council previously approved this classification in the FY2023 budget (CMR 14352). FISCAL/RESOURCE IMPACT All actions described herein are either cost neutral or can be absorbed within the FY2024 adopted budget. Utilities financial plans will need to be adjusted to include the ongoing cost of the revised salary for the Utilities Chief Operating Officer classification, however, it is expected that this can be managed within expense savings during FY 2025 as needed. STAKEHOLDER ENGAGEMENT City staff will post the updated Management and Professional Compensation Plan and IAFF Memorandum of Agreement and updated salary schedules on the City's website after Council adoption for public access. In addition, Human Resources will communicate the changes to the terms of the IAFF MOA and Management and Professional Compensation Plan to support and enhance recruitment and retention goals. ENVIRONMENTAL REVIEW Council action on this item is not a project as defined by CEQA because revising MOAs, compensation plans, and salary schedules is a continuing administrative activity. CEQA Guidelines section 15378 (b)(2). ATTACHMENTS Attachment A: Management and Professional Salary Schedule FY 24 Attachment B: Management and Professional Compensation Plan 2023-2025 Revised 2024 Attachment C: IAFF MOA Side Letter Agreement, 2023-2025 Attachment D: IAFF Salary Schedule 2023-2025 APPROVED BY: Sandra Blanch, Human Resources Director Item 10: Staff Report Pg. 4 Packet Pg. 72 of 254 Item 10 Attachment A - Management and Professional Salary Schedule FY 24 () City of Palo Alto Management, Professional and Confidential Salary Schedule PALO Effective pay period inclusive of 01/01/2024 (Annual $100 Medical Offset) ALTO Hourly Rate Annual Salary Job Code FLSA Status Classifications Grade Codes Min Mid Max Min Mid Max 190 Non -Exempt Accountant 690P $42.61 $53.26 $63.92 $88,629 $110,781 $132,954 76 Exempt Administrative Assistant 750P $34.16 $42.70 $51.24 $71,053 $88,816 $106,579 115 Exempt Assistant Chief Building Official 405M $61.64 $77.05 $92.46 $128,211 $160,264 $192,317 132 Exempt Assistant Chief of Police 100A $100.72 $125.89 $151.07 $209,498 $261,851 $314,226 108 Exempt Assistant City Attorney 165A $77.40 $96.75 $116.10 $160,992 $201,240 $241,488 109 Exempt Assistant City Clerk 630M $47.04 $58.80 $70.56 $97,843 $122,304 $146,765 107 Exempt Assistant City Manager 20E $100.46 $125.57 $150.69 $208,957 $261,186 $313,435 73 Exempt Assistant Director Administrative Services 120A $83.45 $104.31 $125.18 $173,576 $216,965 $260,374 126 Exempt Assistant Director Community Services 150A $79.92 $99.90 $119.88 $166,234 $207,792 $249,350 1007 Exempt Assistant Director Human Resources 155A $77.30 $96.62 $115.95 $160,784 $200,970 $241,176 2001 Exempt Assistant Director Library Services 160A $72.21 $90.26 $108.32 $150,197 $187,741 $225,306 10 Exempt Assistant Director Planning & Community Environment 130A $81.28 $101.59 $121.91 $169,062 $211,307 $253,573 143 Exempt Assistant Director Public Works 140A $80.34 $100.42 $120.51 $167,107 $208,874 $250,661 168 Exempt Assistant Fleet Manager 585M $46.75 $58.43 $70.12 $97,240 $121,534 $145,850 102 Exempt Assistant Manager WQCP 240D $66.53 $83.16 $99.80 $138,382 $172,973 $207,584 30 Exempt Assistant to the City Manager 390M $65.25 $81.56 $97.88 $135,720 $169,645 $203,590 118 Exempt Chief Building Official 290M $78.83 $98.53 $118.24 $163,966 $204,942 $245,939 2008 Exempt Chief Communications Officer 135A $76.88 $96.09 $115.31 $159,910 $199,867 $239,845 112 Exempt Chief Planning Official 220D $70.55 $88.18 $105.82 $146,744 $183,414 $220,106 95 Exempt Chief Procurement Officer 235D $60.32 $75.40 $90.48 $125,466 $156,832 $188,198 82 Exempt Chief Transportation Official 140A $76.40 $95.50 $114.60 $158,912 $198,640 $238,368 96 Exempt Claims Investigator 660P $41.40 $51.75 $62.10 $86,112 $107,640 $129,168 24 Exempt Communication Specialist 615M $44.76 $55.95 $67.14 $93,101 $116,376 $139,651 89 Exempt Contracts Administrator 585P $52.47 $65.58 $78.70 $109,138 $136,406 $163,696 186 Non -Exempt Coordinator Library Circulation 675M $42.76 $53.44 $64.13 $88,941 $111,155 $133,390 191 Exempt Fire Marshal 125A $91.70 $114.62 $137.55 $190,736 $238,410 $286,104 11 Exempt Deputy City Attorney 375M $60.81 $76.01 $91.22 $126,485 $158,101 $189,738 71 Exempt Deputy City Clerk 720M $36.96 $46.19 $55.43 $76,877 $96,075 $115,294 55 Exempt Deputy City Manager 115A $79.80 $99.74 $119.69 $165,984 $207,459 $248,955 195 Exempt Deputy Director Technical Services Division 200D $75.31 $94.13 $112.96 $156,645 $195,790 $234,957 20 Exempt Deputy Fire Chief 110A $95.50 $119.37 $143.25 $198,640 $248,290 $297,960 81 Exempt Director Administrative Services/Chief Financial Officer 50E $97.06 $121.32 $145.59 $201,885 $252,346 $302,827 Item 10: Staff Report Pg. 5 Packet Pg. 73 of 254 Item 10 Attachment A - Management and Professional Salary Schedule FY 24 () City of Palo Alto Management, Professional and Confidential Salary Schedule PALO Effective pay period inclusive of 01/01/2024 (Annual $100 Medical Offset) ALTO Hourly Rate Annual Salary Job Code FLSA Status Classifications Grade Codes Min Mid Max Min Mid Max 72 Exempt Director Community Services 45E $92.32 $115.39 $138.47 $192,026 $240,011 $288,018 1012 Exempt Director Development Services 145A $81.16 $101.44 $121.73 $168,813 $210,995 $253,198 133 Exempt Director Human Resources/Chief People Officer 55E $92.56 $115.69 $138.83 $192,525 $240,635 $288,766 128 Exempt Director Information Technology/Chief Information Officer 25E $101.04 $126.30 $151.56 $210,163 $262,704 $315,245 131 Exempt Director Libraries 60E $86.47 $108.08 $129.70 $179,858 $224,806 $269,776 2028 Exempt Director of Emergency Medical Services 215D $72.88 $91.10 $109.32 $151,590 $189,488 $227,386 2005 Exempt Director Office of Emergency Services 215D $72.88 $91.10 $109.32 $151,590 $189,488 $227,386 49 Exempt Director Office of Management and Budget 120A $83.45 $104.31 $125.18 $173,576 $216,965 $260,374 134 Exempt Director Planning & Community Environment 40E $97.31 $121.63 $145.96 $202,405 $252,990 $303,597 135 Exempt Director Public Works/City Engineer 30E $98.55 $123.18 $147.82 $204,984 $256,214 $307,466 121 Exempt Director Utilities 10E $116.21 $145.26 $174.32 $241,717 $302,141 $362,586 2002 Exempt Division Head Library Services 260D $63.16 $78.94 $94.73 $131,373 $164,195 $197,038 172 Exempt Division Manager Open Space, Parks & Golf 245D $65.64 $82.04 $98.45 $136,531 $170,643 $204,776 2031 Exempt Division Manager Planning 220D $70.55 $88.18 $105.82 $146,744 $183,414 $220,106 1005 Exempt Executive Assistant to the City Manager 705M $38.52 $48.15 $57.78 $80,122 $100,152 $120,182 139 Exempt Fire Chief 35E $109.78 $137.22 $164.67 $228,342 $285,418 $342,514 163 Exempt Hearing Officer 480M $54.04 $67.54 $81.05 $112,403 $140,483 $168,584 101 Exempt Human Resources Representative 735P $36.08 $45.09 $54.11 $75,046 $93,787 $112,549 90 Exempt Landscape Architect Park Planner 510M $51.48 $64.35 $77.22 $107,078 $133,848 $160,618 2015 Exempt Legal Fellow 755P $45.33 $56.66 $68.00 $94,286 $117,853 $141,440 171 Exempt Management Analyst 585M $46.75 $58.43 $70.12 $97,240 $121,534 $145,850 79 Exempt Manager Accounting 235D $63.76 $79.70 $95.64 $132,621 $165,776 $198,931 2007 Exempt Manager Airport 210D $73.12 $91.40 $109.68 $152,090 $190,112 $228,134 2023 Exempt Manager Budget 360M $67.63 $84.53 $101.44 $140,670 $175,822 $210,995 38 Exempt Manager Communications 525M $51.79 $64.73 $77.68 $107,723 $134,638 $161,574 154 Exempt Manager Community Services 630M $48.18 $60.22 $72.27 $100,214 $125,258 $150,322 169 Exempt Manager Community Services Sr Program 585M $51.72 $64.65 $77.58 $107,578 $134,472 $161,366 1013 Exempt Manager Development Center 495M $58.39 $72.98 $87.58 $121,451 $151,798 $182,166 63 Exempt Manager Economic Development 220D $67.35 $84.18 $101.02 $140,088 $175,094 $210,122 44 Exempt Manager Employee Benefits 450M $57.69 $72.11 $86.54 $119,995 $149,989 $180,003 45 Exempt Manager Employee Relations & Training 235D $63.76 $79.70 $95.64 $132,621 $165,776 $198,931 93 Exempt Manager Environmental Control Program 419M $62.72 $78.40 $94.08 $130,458 $163,072 $195,686 Item 10: Staff Report Pg. 6 Packet Pg. 74 of 254 Item 10 Attachment A - Management and Professional Salary Schedule FY 24 () City of Palo Alto Management, Professional and Confidential Salary Schedule PALO Effective pay period inclusive of 01/01/2024 (Annual $100 Medical Offset) ALTO Hourly Rate Annual Salary Job Code FLSA Status Classifications Grade Codes Min Mid Max Min Mid Max 1116 Exempt Manager Facilities 445M $55.40 $69.24 $83.09 $115,232 $144,019 $172,827 2030 Exempt Manager Finance 223D $66.90 $83.62 $100.35 $139,152 $173,930 $208,728 127 Exempt Manager Fleet 255D $55.95 $69.93 $83.92 $116,376 $145,454 $174,554 2018 Exempt Manager Human Services 540M $54.28 $67.84 $81.41 $112,902 $141,107 $169,333 32 Exempt Manager Information Technology 230D $65.18 $81.47 $97.77 $135,574 $169,458 $203,362 2006 Exempt Manager Information Technology Security 230D $61.67 $77.08 $92.50 $128,274 $160,326 $192,400 158 Exempt Manager Laboratory Services 495M $52.75 $65.93 $79.12 $109,720 $137,134 $164,570 78 Exempt Manager Library Services 565M $51.08 $63.84 $76.61 $106,246 $132,787 $159,349 92 Exempt Manager Maintenance Operations 469M $51.68 $64.60 $77.52 $107,494 $134,368 $161,242 26 Exempt Manager Transportation Planning 345M $67.73 $84.66 $101.60 $140,878 $176,093 $211,328 51 Exempt Manager Planning 415M $61.93 $77.41 $92.90 $128,814 $161,013 $193,232 103 Exempt Manager Real Property 235D $60.32 $75.40 $90.48 $125,466 $156,832 $188,198 2011 Exempt Manager Revenue Collections 250D $56.72 $70.90 $85.08 $117,978 $147,472 $176,966 160 Exempt Manager Solid Waste 330M $66.31 $82.88 $99.46 $137,925 $172,390 $206,877 57 Exempt Manager Treasury, Debt & Investments 235D $62.19 $77.73 $93.28 $129,355 $161,678 $194,022 86 Exempt Manager Urban Forestry 436M $57.53 $71.91 $86.30 $119,662 $149,573 $179,504 178 Exempt Manager Water Quality Control Plant 205D $75.04 $93.79 $112.55 $156,083 $195,083 $234,104 39 Exempt Manager Watershed Protection 330M $67.56 $84.44 $101.33 $140,525 $175,635 $210,766 1008 Exempt Office of Emergency Services Coordinator 525M $50.24 $62.80 $75.36 $104,499 $130,624 $156,749 2024 Exempt Performance Auditor I 750P $34.16 $42.70 $51.24 $71,053 $88,816 $106,579 100 Exempt Performance Auditor II 585M $46.75 $58.43 $70.12 $97,240 $121,534 $145,850 148 Exempt Police Chief 15E $113.32 $141.64 $169.97 $235,706 $294,611 $353,538 2021 Exempt Chief Assistant City Attorney 101A $99.95 $124.93 $149.92 $207,896 $259,854 $311,834 2016 Exempt Principal Business Analyst 310M $64.24 $80.29 $96.35 $133,619 $167,003 $200,408 2029 Exempt Principal Planner 469M $52.09 $65.11 $78.14 $108,347 $135,429 $162,531 2003 Exempt Principal Management Analyst 360M $63.99 $79.98 $95.98 $133,099 $166,358 $199,638 2009 Exempt Project Manager 570M $52.80 $66.00 $79.20 $109,824 $137,280 $164,736 2012 Exempt Public Safety Communications Manager 495M $52.75 $65.93 $79.12 $109,720 $137,134 $164,570 166 Exempt Public Safety Program Manager 585M $46.75 $58.43 $70.12 $97,240 $121,534 $145,850 117 Exempt Senior Accountant 525M $56.40 $70.49 $84.59 $117,312 $146,619 $175,947 2013 Exempt Senior Business Analyst - M 420M $55.99 $69.98 $83.98 $116,459 $145,558 $174,678 187 Exempt Senior Engineer 300M $71.93 $89.91 $107.90 $149,614 $187,013 $224,432 Item 10: Staff Report Pg. 7 Packet Pg. 75 of 254 Item 10 Attachment A - Management and Professional Salary Schedule FY 24 () City of Palo Alto Management, Professional and Confidential Salary Schedule PALO Effective pay period inclusive of 01/01/2024 (Annual $100 Medical Offset) ALTO Hourly Rate Annual Salary Job Code FLSA Status Classifications Grade Codes Min Mid Max Min Mid Max 106 Exempt Senior Executive Assistant 450M $54.59 $68.23 $81.88 $113,547 $141,918 $170,310 157 Exempt Senior Human Resources Administrator 545M $49.18 $61.47 $73.77 $102,294 $127,858 $153,442 14 Exempt Senior Management Analyst 465M $54.54 $68.17 $81.81 $113,443 $141,794 $170,165 130 Exempt Senior Performance Auditor 510M $51.48 $64.35 $77.22 $107,078 $133,848 $160,618 53 Exempt Senior Project Manager 300M $71.93 $89.91 $107.90 $149,614 $187,013 $224,432 33 Exempt Senior Technologist 420M $60.99 $76.23 $91.48 $126,859 $158,558 $190,278 155 Exempt Superintendent Animal Services 540M $49.05 $61.31 $73.58 $102,024 $127,525 $153,046 83 Exempt Superintendent Community Services 480M $58.48 $73.09 $87.71 $121,638 $152,027 $182,437 1117 Exempt Superintendent Recreation 480M $58.48 $73.09 $87.71 $121,638 $152,027 $182,437 2022 Exempt Supervising Librarian 675M $42.92 $53.64 $64.37 $89,274 $111,571 $133,890 161 Exempt Supervisor Facilities Management 600M $45.72 $57.14 $68.57 $95,098 $118,851 $142,626 113 Exempt Supervisor Inspection and Surveying 540M $49.05 $61.31 $73.58 $102,024 $127,525 $153,046 146 Exempt Supervisor Warehouse 660M $41.40 $51.75 $62.10 $86,112 $107,640 $129,168 181 Exempt Supervisor Water Quality Control Operations 525M $50.24 $62.80 $75.36 $104,499 $130,624 $156,749 2027 Exempt Utilities Chief Operating Officer 60E $106.84 $133.55 $160.26 $222,227 $277,784 $333,341 2027 Exempt Utilities Chief O rating Officer 69€ $83-..88 $104-.84 $a-25.1- $174,470 $218-,,067 $261,685 Confidential Classifications 905 Non -Exempt Human Resources Technician 830C $30.32 $37.89 $45.47 $63,066 $78,811 $94,578 903 Non -Exempt Legal Secretary -Confidential 820C $31.06 $38.82 $46.59 $64,605 $80,746 $96,907 67 Exempt Secretary to City Attorney 800C $36.72 $45.90 $55.08 $76,378 $95,472 $114,566 1004 Non -Exempt Senior Legal Secretary - Confidential 810C $34.16 $42.70 $51.24 $71,053 $88,816 $106,579 Item 10: Staff Report Pg. 8 Packet Pg. 76 of 254 CITY OF PALO ALTO COMPENSATION PLAN Management and Professional Personnel And Council Appointees Effective December 31, 2022 through June 30, 2025, except where specifically noted. Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 Item 10: Staff Report Pg. 9 Packet Pg. 77 of 254 SECTION I. COMPENSATION...................................................................... A. MANAGEMENT AND PROFESSIONAL COMPENSATION POLICY.......... Item 10 Attachment B - Management and Professional ;ompensation Plan 2023- 2025 Revised 2024 B. BASIC PLAN ELEMENTS........................................................................................................ 1 C. MANAGEMENT AND PROFESSIONAL COMPENSATION ADJUSTMENT AUTHORIZATION ... 3 SECTION II. SPECIAL COMPENSATION...................................................................................... 4 A. OVERTIME............................................................................................................................ 4 B. IN LIEU HOLIDAY PAY........................................................................................................... 4 C. WORKING ABOVE CLASSIFICATION PAY.............................................................................. 4 D. STAN D -BY PAY.................................................................................................................. 5 E. CALL OUT PAY...................................................................................................................... 5 F. NIGHT SHIFT PREMIUM........................................................................................................ 5 G. UNIFORM PURCHASE PLAN - SWORN POLICE, FIRE PERSONNEL, and OPEN SPACE PERSONNEL................................................................................................................................. 5 H. GROUP INSURANCE.......................................................................................................... 5 I. EMPLOYEE ASSISTANCE PLAN............................................................................................ 10 J. SAFETY DIFFERENTIALS...................................................................................................... 10 K. MANAGEMENT and PROFESSIONAL BENEFIT PROGRAM ..................................................11 11 L. LEAVES................................................................................................................................ 13 M. RETIREMENT PENSION................................................................................................... 17 N. COMMUTE INCENTIVES and PARKING........................................................................... 19 O. AT -WILL STATUS............................................................................................................. 20 P. ADDITIONAL COMPENSATION FOR MAYOR AND VICE MAYOR ........................................ 21 Q. REIMBURSEMENT FOR RELOCATION EXPENSE.............................................................. 21 R. MEAL ALLOWANCE............................................................................................................ 22 S. GRIEVANCES REGARDING COUNCIL APPOINTED OFFICERS .............................................. 22 T. MERIT RULES...................................................................................................................... 22 2 Item 10: Staff Report Pg. 10 Packet Pg. 78 of 254 Item 10 Attachment B - Management and COMPENSATION PLAN FOR THE CITY OF PALO ALTO Professional Compensation Plan 2023 - Management and Professional Personnel 2025 Revised 2024 As used in this Plan, the term "Management and Professional" refers to all employees, including Confidential employees, previously classified as "Management and Confidential" by the City. This group will hereafter be identified as "Management and Professional" personnel. SECTION I. COMPENSATION This section applies to all management and professional employees and does not include Council Members or Council -appointed officers. Each Council -appointed officer shall be the responsible decision -maker under this Plan for those employees in departments under his/her control. A. MANAGEMENT AND PROFESSIONAL COMPENSATION POLICY The City's policy for management and professional compensation is to establish and maintain a general structure based on marketplace norms and internal job alignment with broad compensation grades and ranges. Structures and ranges will be reviewed and updated as necessary based on marketplace survey data, internal relationships, and City financial conditions. Individual compensation adjustments will be considered by the Council -appointed officer based on (1) performance factors including achievement of predetermined objectives; (2) pay structure adjustments; and (3) City financial conditions. B. BASIC PLAN ELEMENTS 1. Structure. The compensation plan includes separate multi -grade structures for both management and professional employees. Each grade will have a salary range with a mid -point which is 20% above the minimum, and 20% below the maximum of the range. All management and professional positions will be assigned an appropriate pay grade based on salary survey data and internal relationships. Actual salary within the range is determined by experience and performance. Competitive marketplace studies will be conducted as needed by surveying a maximum of 14 organizations similar to Palo Alto in number of employees, funding mechanisms, population and services provided. These studies will focus on total compensation for management positions such as first line supervisors, administrative, confidential, professional and top management. Periodically, studies will include position -by -position comparisons using market research and internal equity data. The results of these studies may indicate that the entire pay grade structure be adjusted, that individual positions be reassigned to different pay grades, or that no change Item 10: Staff Report Pg. 11 Packet Pg. 79 of 254 Item 10 Attachment B - Management and takes place. Such adjustments will only affect the salary administ Professional , No individual salaries will be automatically changed because of structural a Compensation Plan 2023- 2025 Revised 2024 A department director may request that HR reevaluate a job or jobs in his or her department based on significant and permanent changes in job content. In doing so the director will supply needed information and will provide a position description questionnaire as requested. The Chief People Officer will respond to such requests within his or her discretion. 2. Compensation Adjustment Authorization. The City Manager may propose as part of the budget process for Council approval of a compensation adjustment based on (1) competitive market data, (2) changes in internal position relationships, (3) the City's ability to pay, and (4) a recommendation received from the Chief People Officer. Effective the first pay period following Council adoption of this plan all classifications will receive market -based increases as outlined in the salary schedule. Each Council Appointed Officer will determine the method by which the market adjustment is applied to current employees within their authority. Effective the first full pay period following July 1, 2023, all classifications will receive a four percent (4%) salary increase. Effective the first full pay period following July 1, 2024, all classifications will receive a four percent (4%) salary increase. Effective the first pay period following Council adoption of this plan all classifications will receive a one hundred dollar ($100) monthly flexible compensation payment built into the base hourly rate of pay. Employees can utilize this cash payment to cover insurance premiums or contribute to Flexible spending accounts/457 deferred compensation plans. Effective the first pay period of January 2024, all classifications will receive an additional one hundred dollars ($100) monthly flexible compensation payment built into base hourly rate of pay. a) Base Compensation. Compensation for management and professional employees includes bi-weekly base salary and is paid on a continuing basis. On a fiscal year basis, the bi-weekly base salary must fall within pay grade limits of no less than 20% below the mid -point and no more than 20% above the mid -point. Base salary increases are earned and authorized in accordance with administrative guidelines based upon growth within the position and performance, which must meet or exceed position standards defined through the performance planning and appraisal process described in subsection b below, the salary structure and the City's ability to pay. Management/professional employees who have received an overall rating of "Meets", "Higher" or "Exceeds" expectations on their annual review and who have not been on a performance improvement plan during the preceding fiscal year will be eligible for an adjustment to base compensation. Nothing herein shall preclude an employee's managerfrom awarding a mid -point 11 Item 10: Staff Report Pg. 12 Packet Pg. 80 of 254 Item 10 Attachment B - Management and adjustment increase to an employee on a performance plan at a later Professional yee's performance improve. Compensation Plan 2023- 2025 Revised 2024 b) Performance Planning and Appraisal. Performance appraisals will be conducted at the end of each fiscal year during the months of July through September 30 each year prior to determining individual employee fixed compensation. This process includes both review of previous performance plan and preparation of the performance plan for the next planning period (usually the fiscal year). Performance plans are jointly prepared by the employee and supervisor with the concurrence of the department head or Council -appointed officer. The performance plans shall contain measurable objectives which place special emphasis on position description duties or specific assignments. Progress toward meeting objectives shall be monitored periodically. The performance appraisals should be implemented in a manner that will achieve the following objectives: • Define the employee's job duties and expected level of performance for the next review period to ensure that both the employee and supervisor have a clear understanding of the employee's role and responsibilities; • Evaluate and document past performance to serve as a basis for establishing and obtaining future performance standards/objectives; • Facilitate two-way communication and understanding between the employee and his or her supervisor; • Counsel and encourage employees to work toward a learning development plan and realize their full potential; • Establish future work plan objectives. Work plans should include job related projects or special goals related to regular job duties when applicable. At the conclusion of the fiscal year (or review period), supervisors shall make a final determination of the overall performance rating. Recommendations shall be forwarded to department heads and to the Chief People Officer or appropriate Council appointed officer who will then determine individual fixed adjustments according to the provisions of the compensation plan. Each department will ensure that metrics tie to the performance appraisal. The performance planning and appraisal process should be completed by September 30. C. MANAGEMENT AND PROFESSIONAL COMPENSATION ADJUSTMENT AUTHORIZATION 1. Council -appointed officers are authorized to pay salaries in accordance with this plan to non - Council -appointed management and professional employees in an amount not to exceed the aggregate of approved management and professional positions in the Table of Organization for the applicable fiscal year. 2. Individual management and professional compensation authorized by a Council -appointed 5 Item 10: Staff Report Pg. 13 Packet Pg. 81 of 254 Item 10 Attachment B - Management and officer under the Management and Professional Compensation Pla Professional than 20% below nor more than 20% above the mid -point for the indicompen5ation Plan 2023- ades authorized in Salary Schedule attached. 2025 Revised 2024 3. The Council -appointed officers are authorized to establish such administrative rules as are necessary to implement the Management and Professional Salary Plan subject to the limitations of the approved compensation adjustment authorization and the approved grade and mid -point structure. 4. Notwithstanding any other provision of this Compensation Plan, in the event a downward adjustment of a position grade assignment indicates a reduction in the established salary of an individual employee, the Council -appointed officer may, if circumstances warrant, continue the salary for such employee in an amount in excess of the revised grade limit for a reasonable period of time. Such interim salary rates shall be defined as "Y -rates." Employees in "Y -rated" positions shall not be eligible for any increase to base salary unless and until the amount of the "Y -rated" salary is equal to or less than the published pay rates. Employees assigned to work above class duties shall not be eligible for "Y -rated" pay on conclusion of a work above class assignment. SECTION II. SPECIAL COMPENSATION This section applies to all eligible regular management and professional positions including Council Appointed Officers as applicable and including Council Members where indicated. Eligibility shall be in conformance with the Merit Rules and Regulations and Administrative Directives issued by the City Manager for the purposes of clarification and interpretation. A. OVERTIME Compensation for overtime work shall be in conformance with the Merit Rules and Regulations and Policies and Procedures. B. Floating Holiday — Days of Historical Significance Employees will be provided one floating holiday each calendar year in acknowledgement of days of historical significance. The employee with prior approval from their supervisor can use this floating holiday at any time during the year. This holiday has no cash value and will expire if unused. C. IN LIEU HOLIDAY PAY Employees who work a schedule where a regular day off falls on a holiday will be paid for the hours they would have normally worked on that day. If the holiday falls on a non -workday for an exempt employee, the employee may, with supervisory approval, take another day off within the pay period or the following pay period. 6 Item 10: Staff Report Pg. 14 Packet Pg. 82 of 254 D. WORKING ABOVE CLASSIFICATION PAY Item 10 Attachment B - Management and Professional ipensation Plan 2023 - Where management and professional employees, on a temporary basis, are JCI-m all significant duties of a higher classification for a period of one month or more, the City Manager may authorize payment within the range of the higher classification for the specified time frame. All qualified and interested employees within a work group should be considered for the working above classification opportunity whenever feasible. Working above classification will not exceed six months, unless renewed at the discretion of the City Manager. On expiration of that timeframe, working above classification pay will cease and the employee will return to his or her former pay level. Working above classification pay is not to exceed 10% more than the employee's current salary and shall be documented on a Personnel Action Form, with a description of the additional duties in the higher classification to be performed and an end date. E. STAND-BY PAY Employees eligible for overtime may be entitled to stand-by pay, approved by the City Manager on a case by case basis, in extreme circumstances involving unavailability of non -management staff. Compensation is as follows: Monday through Friday $40 per day Saturday, Sunday, Holidays $58 per day F. CALL OUT PAY Effective pay period beginning February 26, 2011, Exempt management and professional classifications will be compensated for Call Out as outlined below with Management approval (and will not be eligible for overtime pay). Call Out applies when: (1) an employee previously left City premises, (2) is called back to the work location outside of regularly scheduled working hours, and (3) the Call Back is for an emergency arising out of situations involving real or potential loss of service, property or personal danger. Employees called back will be expected to respond directly to the location of the problem. Compensation is per Call Out as reported on timecard and will be paid as follows: Monday through Friday: $140 per day Saturday and Sunday: $200 per day G. NIGHT SHIFT PREMIUM Night shift differential shall be paid at the rate of five percent (5%) to regular full-time employees who are regularly assigned to shift work between 6:00 p.m. and 8:00 a.m., or to employees who are temporarily assigned to work a full shift between 6:00 p.m. and 8:00 a.m. H. UNIFORM PURCHASE PLAN - SWORN POLICE, FIRE PERSONNEL, and OPENSPACE 7 Item 10: Staff Report Pg. 15 Packet Pg. 83 of 254 PERSONNEL Uniforms, including cleaning, will be provided with replacement provisions o conformance with department policy. I. GROUP INSURANCE 1. Effective Date of Coverage for New Employees Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 sis in For newly hired regular employees coverage begins on the first day of the month following date of hire for the health plan, dental plan, vision care plan, long term disability and life insurance plans if these benefits are elected. 2. Dual coverage. When a City employee is married to or has a registered domestic partner with the California Secretary of State with another City employee, each shall be covered only once (as an individual or as a spouse of the other City employee, but not both) and dependent children, if any, shall be covered by only one spouse. 3. Active Emalovee Health Plan a) During the term of this compensation plan, the maximum City contribution towards medical premiums for eligible full-time employees per category shall be up to a maximum of the following for any plan: Medical Premium Category (Coverage Level Maximum City Contribution Effective January 1, 2020 Single (EE only) $871 2- Party (EE +1) $1742 Family (EE + 2 or more) $2260 *The PEMHCA minimum changes per statutory determination. Any increases to the PEMHCA minimum during the term of this plan will result in a corresponding decrease to the amount of the additional City contribution, so that the total maximum City contribution never exceeds the amount listed in the "Total Maximum City Contribution" columns above. The City's total maximum contribution towards medical premiums for eligible part time employees shall be prorated based on the number of hours per week the part-time employee is assigned to work. b) Coverage For Domestic Partners 1) Domestic Partnership Registered with the California Secretary of State: Employees 8 Item 10: Staff Report Pg. 16 Packet Pg. 84 of 254 Item 10 Attachment B - Management and may add their domestic partner as a dependent to their elect Professional rage if the domestic partnership is registered with the Secretar Compensation Plan 2023- ill be eligible for the Alternative Medical Benefit Program in paragr 2025 Revised 2024 2) Domestic Partnership Not Registered with the California Secretary of State: Domestic partners who meet the requirements of the City of Palo Alto Declaration of Domestic Partnership, and are registered with the People Strategy and Operations Department, will be eligible for a stipend of two hundred and eighty four dollars ($284.00) per month toward the cost of an individual health plan. Evidence of premium payment will be required with request for reimbursement. 4. Alternative Medical Benefit Program If a regular employee and/or the employee's dependent(s) are eligible for and elect to receive medical insurance through another non -City of Palo Alto employer -sponsored or association medical plan, the employee may choose to waive his/her right to the City of Palo Alto's medical insurance and receive cash payments in the amount of $284.00. Examples of waivers eligible for this payment are: • Employee waives all applicable City medical coverage; or • Employee is eligible to enroll his or her spouse or register his or her domestic partner with the California Secretary of State and waives medical coverage for the spouse or domestic partner; or • Employee has additional eligible dependents and waives family -level medical coverage. Participation must result in a health insurance cost savings to the City and payments per employee shall not exceed a total of two hundred eighty four dollars ($284.00) per month. To participate in the program the employee and dependents must be eligible for coverage under PEMHCA medical plans, complete a waiver of medical coverage form, and provide proof of eligible alternative medical coverage. When a City employee is married to or has a registered domestic partner with the California Secretary of State with another City employee, each shall only be eligible once (as an individual or as a spouse of the other City employee, but not both) and not eligible for a waiver. Payments will be made in the employee's paycheck beginning the first month following the employee's completion of the waiver form. Payments are subject to state and federal taxes and are not considered earnings under PERS law. Employees are responsible for notifying the City of any change in status affecting eligibility for this program (for example, life changes affecting dependent's eligibility for medical coverage through the employee) and will be responsible for repayment of amounts paid by the City contrary to the terms of this program due to the employee's failure to notify the City of a change in status. 5. Retiree Health Plan a) Employees Hired Prior to January 1, 2004 9 Item 10: Staff Report Pg. 17 Packet Pg. 85 of 254 Item 10 Attachment B - Management and Monthly City -paid premium contributions for a retiree -selected Professional h the CaIPERS Health Benefits Program will be made as provided under Compensation Plan 2023 ees" Medical and Hospital Care Act. The City's monthly employer 2025 Revised 2024 each employee retiring on or after January 1, 2007 and prior to March 31, 2011 shall be the amount necessary to pay for the cost of his or her enrollment in a health benefits plan up to the monthly premium for the second most expensive plan offered to management and professional personnel during the contract term (among the existing array of plans.) The City's contribution for an employee hired before January 1, 2004 who retires on or after March 30, 2011 shall be the same contribution amount it makes from time to time for active City employees. b) Post — 1/1/04 Hires For those Management and professional employees hired after January 1, 2004, the PERS law vesting schedule set forth in Government Code section 22893 will apply. Under that law, an employee is eligible for 50% of the specified employer health premium contribution after ten (10) years of service credit, provided at least five (5) of those years were performed at the City of Palo Alto. After ten (10) years of service credit, each additional service credit year increases the employer contribution percentage by 5% until, at 20 years' service credit, the employee will be eligible upon retirement for 100% of the specified employer contribution and 90% of their dependent coverage. The City of Palo Alto's health premium contribution for eligible post — 1/1/04 hires shall be the minimum contribution set by PERS under section 22893 based on a weighted average of available health plan premiums. c) Effective upon ratification and adoption of this compensation plan, the City shall provide active Management employees who were hired before January 1, 2004 with a one-time opportunity to opt -in to retiree health benefits provided under California Government Code section 22893. Eligible employees who wish to exercise this option shall inform the Human Resources department of their election in writing no later than 90 days following the ratification and adoption of this compensation plan. 6. Dental Plan a) The City shall pay covered plan charges on behalf of all eligible employees and dependents. (Domestic partners who are either registered with the Secretary of State or who meet the requirements of the City of Palo Alto Declaration of Domestic Partnership, and are registered with the Human Resources Department are considered dependents under the plan.) Benefits for regular part-time employees hired or assigned to a part- time schedule will be prorated in accordance with his/her percentage of a full- time work schedule. b) The City's Dental Plan provides the following: • Maximum Benefits per Calendar Year- $2,000 per person • Lifetime Maximum for Orthodontics- The City will pay up to $2,000.00 for orthodontia coverage (not included in annual dental maximum) 10 Item 10: Staff Report Pg. 18 Packet Pg. 86 of 254 • Major Dental Services 50% UCR* • Orthodontics 50% UCR* • Basic Benefits (All other covered services) First Calendar Year of Eligibility 70% UCR* Subsequent Calendar Years 70%-100% *Usual, Customary, and Reasonable • Composite (tooth covered) fillings for posterior teeth Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J For each dental plan member, the percentage of coverage for basic benefits will begin at 70% for the first calendar year of coverage and increase by 10% (up to a maximum of 100%) effective the first day of the next calendar year as long as the member utilizes the plan at least once during the current year. Per the Delta Dental contract effective October 1, 2005, if the member does not utilize the plan during the current year, the percentage of coverage for the next calendar year shall remain unchanged from the current year. If a dental plan member ever loses coverage under the plan, the applicable percentage of coverage for basic benefits provided during any future period of coverage will commence at 70% as if the dental plan member was a new enrollee. Examples of when a member might lose coverage under the plan would include: • Employee goes on an unpaid leave of absence and elects not to pay the required dental premiums for his/her family's coverage during the leave. • Employee elects to drop one or more covered dependents from the plan during an open enrollment period so that they might be covered on a spouse's non- City of Palo Alto dental plan. 7. Basic Life Insurance The City shall provide a basic group term life insurance with Accidental Death and Dismemberment (AD&D) coverage, in an amount equal to the employee's annual basic pay (rounded to the next highest $1,000) at no -cost to the employee. AD&D pays an additional amount equal to the employee's annual basic pay (rounded to the next highest $1,000). 8. Supplemental Life And AD&D Insurance An employee may, at his/her cost, purchase additional life insurance and additional AD&D coverage equal to one- or two-times his or her annual salary. The maximum amount of life insurance available to the employee is up to $325,000 and the maximum amount of AD&D coverage available is up to $325,000. 9. Long Term Disability Insurance a) The City shall provide long term disability (LTD) insurance with a benefit of 2/3 monthly salary, up to a maximum benefit of $10,000 per month. The City shall pay the premium for the first $6,000 of base monthly salary. For employees whose base monthly salary exceeds $6,000, the employee shall pay the cost of the required premium based upon 11 Item 10: Staff Report Pg. 19 Packet Pg. 87 of 254 their monthly salary between $6,000 and $15,000. Item 10 Attachment B - Management and Professional ipensation Plan 2023- b) For employees whose base monthly salary exceeds $6,000 and- a2 Revised 2024 _ligible dependents covered under the City's medical, dental or vision plans, the City will pay up to $17.50 per month towards the employee's cost for LTD coverage. 10. Vision Care a) The City shall provide vision care coverage for employee and dependents. Coverage is administered by Vision Service Plan (VSP). The plan provides an exam every 12 months; lenses every 24 months; frames every 24 months, all subject to a $20 co -payment as defined in the Vision Services Benefits Plan A schedule. Benefits for regular part-time employees will be prorated as follows: Employees hired after January 1, 2004, who will work less than full time, will receive prorated premium costs for vision benefits in accordance with his/her percentage of a full-time work schedule. Vision benefits for regular part-time employees hired or assigned to a part-time schedule will be prorated in accordance with his/her percentage of a full- time work schedule. Effective July 1, 1996, dependents include eligible domestic partners who are either registered with the Secretary of State. J. EMPLOYEE ASSISTANCE PLAN The Employee Assistance Plan (EAP) provides employees with confidential personal counseling, work and family related issues, eldercare, substance abuse, etc. In addition, EAP programs provide a valuable tool for supervisors to refer troubled employees to professional outside help. This service staffed by experienced clinicians is available to employees and their dependents by calling a toll - free phone line 24 hours a day, seven days a week. Guidance is also available online. K. SAFETY DIFFERENTIALS 1. Police Department - Personnel Development Program Pursuant to administrative rules governing eligibility and qualification, one of the following differentials, whichever is higher, may be granted to sworn police personnel: A. P.O.S.T. Intermediate Certificate: five percent (5%) above base salary B. P.O.S.T. Advanced Certificate: seven and a half (7 %%) above base salary 2. Fire Department - EMT Differential 12 Item 10: Staff Report Pg. 20 Packet Pg. 88 of 254 Pursuant to administrative rules governing eligibility and qualificatio differential may be granted to sworn Fire personnel: A. EMT Differential: three percent (3%) above base salary L. MANAGEMENT and PROFESSIONAL BENEFIT PROGRAM Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J Management and professional employees are eligible for Sections 1, 2, and 3of the Management Benefit Program below. City Council Members are not eligible for benefits under Section 1 and 2 below. 1. Professional Development - Reimbursement The purpose of this program is to provide employees with resources to improve and supplement their job and professional skills. Reimbursement for authorized self- improvement activities may be granted each management and professional employee up to a maximum of five hundred dollars ($500) per fiscal year. A departmental training fund of one thousand dollars per employee ($1,000) will be established for subject matter, leadership or other training that the Department Director identifies as a need for employees within that Department. The following items are eligible for reimbursement: a) Civic and professional association memberships b) Conference participation and travel expenses, which must occur within the compensation plan period. c) Educational programs, books and videos, and tuition reimbursement designed to maintain or improve the employee's skills in performing his or her job or future job opportunities, should support the City's mission or be necessary to meet the educational requirements for qualification for employment. Permissible educational expenses are refresher courses, courses dealing with current developments, academic or vocational courses, as well as the travel expenses associated with the courses as defined by the City's travel expense report from the Policy & Procedures Manual Section 1-02 ASD. 13 Item 10: Staff Report Pg. 21 Packet Pg. 89 of 254 d) Professional and trade journal subscriptions not to exceed 1 Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J e) Approval will be at discretion of department head and signature is required on reimbursement form. Amounts under this professional development program will be pro -rated in the first year of employment or promotion into a position covered by this Compensation Plan 2. Excess Benefit This benefit is designed to meet the requirements of Section 125 of the Internal Revenue Code, with exception of Gym or Health Club Membership. Every calendar year, each employee will be provided with $2,500 that they can designate among the following options, subject to caps pursuant to IRS regulations: a) Medical Flexible Spending Account (Medical FSA). Provides reimbursement for excess medical/dental/vision, or expenses that are incurred by employees and their dependents which are not covered or reimbursed by any other source, including existing City -sponsored plans. This includes prescribed medications and copayments. However, nonprescription dietary supplements (e.g. vitamins, etc.) toiletries (e.g. toothpaste), cosmetics (e.g. face cream), and items used for cosmetic purposes (e.g. Rogaine) are not acceptable. b) Dependent Care Flexible Spending Account (Dependent Care FSA). Provides reimbursement for qualified dependent care expenses under the City's Dependent Care Assistance Program (DCAP), subject to the following limits: Dependent care expenses will be reimbursed only to the extent that the amount of such expenses reimbursed under this Management Benefit Program, when added to the amount (if any) of annual dependent care expenses that the participant has elected under the City's Flexible Benefits Plan, do not exceed the maximum permitted under the DCAP. 1) The annual amount submitted for reimbursement cannot exceed the income of the lower -paid spouse. 2) The expenses must be employment -related expenses for the care of one or more dependents who are under 13 years of age and entitled to a dependent deduction under Internal Revenue Code section 151(e) or a dependent who is physically or mentally incapable of caring for himself or herself. 3) The payments cannot be made to a child under 19 years of age or to a person claimed as a dependent. 14 Item 10: Staff Report Pg. 22 Packet Pg. 90 of 254 Item 10 Attachment B - Management and 4) If the services are provided by a dependent care c Professional must comply with all state and local laws and must provide Compensation Plan 2023-n six (6) individuals (other than a resident of the facility). 2025 Revised 2024 5) Dependent care expenses not submitted under this section are eligible under the City Dependent Care Assistance Plan (DCAP). However, the maximum amount reimbursed under DCAP will be reduced by any amount reimbursed under the Excess Benefit Plan. c) Non-taxable Professional Development Spending Account. Provides reimbursement for Non -Taxable professional development expenses (e.g., job -related training and education, seminars, training manuals, etc.) to the extent they are not paid or reimbursed under any other plan of the City. d) Gym or Health Club memberships. Provides reimbursement for annual or monthly memberships, including personal trainers. Reimbursement of this expense is taxable to the employee. e) Deferred Compensation. Provides a one-time contribution to the employee's City - sponsored 457 Deferred Compensation plan with either ICMA-RC or Mass Mutual. Amounts designated by employees to either the Medical FSA, Dependent Care FSA, or Professional Development options are done so on a "use —it -or -lose -it" basis. This means that any amounts designated and not used by the end of the calendar year (or end of the extended grace period for the medical FSA) will be forfeited by the employee and returned to the plan. Specified amounts under this benefit will be applied on a pro -rated basis for employees who are part-time or who are in a management or professional pay status for less than the full fiscal year. Such benefits will be pro -rated in the first year of employment (based on hire date) but will not be pro -rated upon separation of employment. City will explore options including a deferred compensation match up to $4000 through a pre-tax retirement savings account as a replacement for Professional Development in Section 1 and Excess Benefit as provided under Section 2. M. LEAVES 1. Sick Leave a) Sick leave shall be accrued bi-weekly provided the employee has been in a pay status for 50% or more of a bi-weekly pay period. Sick leave shall be accrued at the rate of 3.7 hours per bi-weekly pay period for those employees working a 40 -hour duty schedule. Those assigned work schedules which are greater or lesser than 40 hours will accrue sick leave at the ratio of their work schedule to 40 hours. 15 Item 10: Staff Report Pg. 23 Packet Pg. 91 of 254 Item 10 Attachment B - Management and b) Employees may use up to 20 hours of sick leave per cale Professional sonal business. The scheduling of such leave is subject to the appr compensation Plan 2023 riate level of Management. 2025 Revised 2024 c) Employees leaving the municipal service shall forfeit all accumulated sick leave, except as otherwise provided by law and by Section 609 of the Merit Rules and Regulations. In the event that notice of resignation is given, sick leave may be used only through the day which was designated as the final day of work by such notice. d) Employees that were hired before December 1, 1983 and who leave the municipal service in good standing, or who die while employed in good standing bythe city, and who have 15 or more years of continuous service shall receive compensation for unused sick leave hours in a sum equal to two and one-half percent (2Y2%) of their unused sick leave hours multiplied by their years of continuous service and their basic hourly rate of pay at termination. Full sick leave accrual will be paid in the event of termination due to disability. See Merit System Rules and Regulations, Chapter 6, Section 609. e) Up to nine (9) days of sick leave per calendar year may be used for illness in the immediate family, including a registered domestic partner. f) Management and Professional employees eligible, as specified above if hired before December 1, 1983, to be compensated for sick leave may annually convert sick leave hours in excess of 600 to cash or deferred compensation, according to the formula set forth above, up to a maximum of $2,000 per fiscal year. g) In accordance with the City Merit Rules and Regulations, a new employee may, if necessary, use up to 48 hours or shift equivalent of sick leave at any time during the first six (6) months of employment. 2. Management Annual Leave a) Exempt Employees Regular management and professional employees will be credited with 80 hours of annual leave. This leave is granted in recognition of the extra hours Management and Professional employees work over their regular schedule. This leave may be taken as paid time off, added to vacation accrual (subject to vacation accrual limitations), taken as cash or taken as deferred compensation. When time off is taken under this provision, 10 -hour shift workers will receive one shift off for each 8 hours charged; 24 -hour shift workers will receive one-half (%) shift off for each 8 hours charged. 16 Item 10: Staff Report Pg. 24 Packet Pg. 92 of 254 Item 10 Attachment B - Management and In 2012, the City transitioned this benefit from a fiscal to Professional is for administrative purposes. Beginning in 2013 and each Cal Compensation Plan 2023- fter, employees will be credited with 80 hours of management an 2025 Revised 2024 Entitlement under this provision will be reduced on a prorated basis for part-time status, or according to the number of months in paid status during the year; employees who have used more than the pro -rated share at the time they leave City service shall be required to repay the balance or have it deducted from their final check. Unused balances as of the end of the year will be paid in cash unless a different option as indicated above is elected by the employee. Council appointed Officers can, at their discretion, award additional management annual leave to employees. Award of additional leave is intended to acknowledge and recognize excellent performance and/or longevity in alignment with the annual merit cycle. 3. Vacation Vacation will be accrued when an employee is in pay status and will be credited on a bi- weekly basis. Total vacation accrual at any one time may not exceed three (3) times the annual rate of accrual. Each eligible employee shall accrue vacation at the following rate for continuous service performed in pay status: a) Less than nine (9) years. For employees completing less than nine (9) years continuous service: 120 hours vacation leave per year; provided that: i. The City Manager is authorized to adjust department head annual vacation accrual to provide for a maximum of 160 hours for those hired between July 1, 1996 and June 30, 2001; and ii. The City manager is authorized to adjust the annual vacation accrual of employees hired on or after July 1, 2001, to provide up to 40 additional hours (i.e., to a maximum annual accrual of 160 hours) for service with a prior employer. b) Nine (9), but less than fourteen (14) years. For employees completing nine (9), but not more than fourteen (14) years continuous service; 160 hours vacation peryear. c) Fourteen (14), but less than nineteen (19) years. For employees completing fourteen (14), but not more than nineteen (19) years continuous service; 180 hours vacation leave per year. d) Nineteen (19) or more years. For employees completing nineteen (19) or more years continuous service; 200 hours vacation leave per year. 17 Item 10: Staff Report Pg. 25 Packet Pg. 93 of 254 Item 10 Attachment B - Management and Professional e) Employees are eligible to cash out vacation accrual balance Compensation Pla�2021- ours. An employee may cash out a minimum of eight (8) hours to a 2025 Revised ours of accrued vacation provided the employee has taken 80 vacation hours in the previous 12 months and has followed the election procedures set forth in this section. Employees must elect the number of vacation hours they will cash -out during the next calendar year, up to the maximum of 120 hours. For the 2012 calendar vacation year, employees will make their election for vacation hours to cash out no later than November 1, 2012. The election will apply only to vacation hours that are accrued in the next calendar year and that are eligible forcash-out. The election to cash -out vacation hours in each designated year will be irrevocable. This means that employees who elect to cash -out vacation hours must cash -out the number of accrued hours pre -designates on the election form. Employees who do not elect a cash -out amount by November 1 of the prior calendar year will be deemed to have waived the right to cash out any leave in the following tax year and will not be eligible to cash -out vacation hours in the next tax year Employees who elect cash -out amounts may request a cash -out at any time in the designated tax year by submitting a cash -out form to payroll. Payroll will complete the cash -out upon request, provided the requested cash -out amount has accrued and is consistent with the amount the employee pre -designated. If the full amount of hours designated for cash -out is not available at the time of cash -out request, the maximum available will be paid. For employees who have not requested cash -out of the elected amount by November 1 of each year, Payroll will automatically cash -out the elected amount in a paycheck issued on or after the payroll date including November 1. 4. Bereavement Leave of absence with pay of three (3) days may be granted an employee by the head of his/her department in the event of death in the employee's immediate family, which is Item 10: Staff Report Pg. 26 Packet Pg. 94 of 254 Item 10 Attachment B - Management and defined for purposes of this section as wife, husband, son, son -in -I Professional hter, daughter-in-law, step -daughter, mother, mother-in-law, father, Compensation Plan 2023 ther, brother-in-law, sister, sister-in-law, grandmother, grandmothe 2o2s Re/ ised 2024 ther, grandfather -in-law, grandchild, aunt, uncle, niece, nephew, registered domestic partner, or a close relative residing in the household of employee. Such leave shall be at full pay and shall not be charged against the employee's accrued vacation or sick leave. Requests for leave in excess of three days shall be subject to the approval of a Council -Appointed Officer for employees under his/her control. 5. Use of accrued leave credits during leaves of absence. During unpaid leaves of absence for disability or other reasons, the employee may elect and the City may require the employee to use accrued paid vacation and sick leave in a manner consistent with state and federal law. Requests for leaves without pay shall not be unreasonably denied. In order to avoid misunderstandings, all leaves without pay must be in writing to be effective. N. RETIREMENT PENSION 1. Miscellaneous Pension Formulas: a. Miscellaneous Pension Group A: 2.7% at 55. The City provides retirement benefits under the California Public Employees Retirement System at the level of 2.7% at age 55 for employees hired before July 17, 2010, with a one year final compensation period. b. Miscellaneous Pension Group B: 2% at 60:For miscellaneous employees hired on or after July 17, 2010, and before January 1, 2013, and employees hired on or after January 1, 2013 who are not "new members" of CaIPERS as defined in the Public Employees' Pension Reform Act (often referred to as "Classic" CaIPERS members)the City offers the CaIPERS retirement formula two percent (2.0%) of final salary at age sixty (60), with a one (1) year final compensation period. c. Miscellaneous Pension Group C: 2% at 62. Employees hired on or after January 1, 2013 meeting the definition of "new member" under the Public Employees' Pension Reform Act (Gov't. Code s. 7522 et seq.) shall be subject to all of the provisions of that law, including but not limited to the two percent at age 62 (2%@62) retirement formula with a three (3) year final compensation period. 2. Safety Pension Formulas: a. Safety Pension Group A: 3% at 50. For Safety members, the City currently offers the CaIPERS "3% at 50" full formula (Section 21362.2) benefit, with a one (1) year final compensation period. b. Safety Pension Group B: 3% at 55. Local Fire Safety members newly hired after 6/08/12 19 Item 10: Staff Report Pg. 27 Packet Pg. 95 of 254 Item 10 Attachment B - Management and will be placed in the 3%@55 formula. As soon as administrati Professional City intends to modify the Local Police Safety formula for new hires t Compensation Plan 2023- 2025 Revised 2024 c. Safety Pension Group C: New employees hired on or after January 1, 2013 who are "new members" as defined by the California Public Employees' Pension Reform Act (PEPRA), will be subject to the terms of that statute, with a three (3) year final compensation period. 3. Employee PERS Share. a. Miscellaneous Employee Shares: Employees in Miscellaneous Pension Group A shall pay the full eight percent (8%) employee contribution. Employees in Miscellaneous Pension Group B shall pay the full seven percent (7%) employee contribution. Employees in Miscellaneous Pension Group C shall pay the employee contribution required by the Public Employees Pension Reform Act, calculated at fifty percent (50%) of the normal cost. b. Safety Employee Shares. Employees in Safety Pension Group A shall pay the full nine percent (9%) PERS employee contribution. Employees in Safety Pension Group B shall pay the full eight percent (9%) PERS employee contribution. Employees in Safety Pension Group C shall pay the employee contribution required by the Public Employees Pension Reform Act, calculated at fifty percent (50%) of the normal cost. Employees under the 2%@62 benefit shall pay at least 50 percent of the total normal cost or the same contribution rate as "similarly situated" employees, whichever is higher. 4. Employer Share a. Miscellaneous (Non -Safety) Management and Professional: As soon as administratively possible, but no sooner than pay period including July 1, 2017 each Miscellaneous (non -Safety) Management and Professional employee shall pay one- half percent (0.5%) of their salary toward the employer cost of retirement in accordance with Section 20516 of the California Government Code. Effective the first full pay period including July 1, 2018, each Miscellaneous (non -Safety) Management and Professional employee shall pay an additional one-half percent (0.5%) of their salary toward the employer cost of retirement in accordance with Section 20516 of the California Government Code. This will result in Miscellaneous (non -Safety) Management and Professional employees paying a total of one (1) percent of the employer share in addition to their employee contribution. b. Safety Management: 20 Item 10: Staff Report Pg. 28 Packet Pg. 96 of 254 Item 10 Attachment B - Management and As soon as administratively possible, but no sooner than pay period Professional 2017 each Safety Management employee shall pay one and one-half perce compensation Plan 2023- alary toward the employer cost of retirement in accordance with Section 2025 Revised 2024 ornia Government Code. Effective the first full pay period including July 1, 2018, each Safety Management employee shall pay an additional one and one-half percent (1.5%) of their salary toward the employer cost of retirement in accordance with Section 20516 of the California Government Code. This will result in Safety Management employees paying a total of three (3) percent of the employer share in addition to their employee contribution. 5. Final Compensation. Final compensation for purposes of retirement shall be as set forth in the City's contract with CaIPERS, including, when applicable, the Government Code Section 20692: Optional Benefit, except as may otherwise be required by PEPRA. 6. Employee PERS contributions shall be made on a tax deferred basis, in accordance with Section 414(h)(2) of the Internal Revenue Code. All provisions of this subsection are subject to and conditioned upon compliance with IRS regulations. 7. Final compensation for employees under the 2%@62 benefit shall be as set forth in PEPRA, including calculation based on the average of three highest consecutive years and a cap on pensionable compensation based on IRS limits for employers that do not participate in social security. O. COMMUTE INCENTIVES and PARKING 1. Civic Center Parking. Employees assigned to Civic Center and adjacent work locations. The City will provide a Civic Center Garage parking permit. Employees hired after June 30, 1994 may initially receive a parking permit for another downtown lot, subject to the availability of space at the Civic Center Garage. 2. Alternative Commute Incentives: Employees who qualify may voluntarily elect one commute incentives, including but not limited to the following options, for those using an eligible commute alternative on 60% or more of their scheduled work days per month: a) Public Transit and Vanpool. The City provides tax-free commute incentives up to the current IRS limit, as may be amended from time to time, (currently $125/month) are available through the Commuter Check Direct (CCD) website for employees using Bay Area public transportation or riding in a registered vanpool at least 60% of their scheduled work days. Administration of the Commuter Check benefit shall be subject to the rules and regulations of the third- party administrator. 21 Item 10: Staff Report Pg. 29 Packet Pg. 97 of 254 Item 10 Attachment B - Management and b) Go Pass. The Go Pass program will offer civic center and cj Professional aced employees a Caltrans Go Pass that allows unlimited rides Compensation Plan 2023 -hones seven days per week, to any City of Palo Alto employee. 2025 Revised 2024 c) Bicycle. The City will provide employees with a tax-free incentive of $20 per month to eligible employees who ride a bicycle to work. d) Carpool. The City will provide with a taxable incentive of $30 per month to each eligible employee in a carpool with two or more licensed drivers. e) Walk. The City will provide employees with a taxable incentive of $20 per month to eligible employees who walk to work. P. AT -WILL STATUS Certain Management and Professional Positions are designated as having "at -will" employment status. Employees hired into "at -will" positions shall have no constitutionally protected property or other interest in their employment with the City. Notwithstanding any provision in the Merit System Rules and Regulations or any other City rule, policy or procedure, at -will employees have no right to continued employment or pre -or post -disciplinary due process and work at the will and pleasure of the hiring authority (City Council, City Manager or Council -Appointed Officer). Work for an at -will employee may be eliminated and/or the employee may be terminated, or asked to resign, at any time, with or without cause, upon notice to that employee, and the employee may resign at any time upon written notice to the hiring authority. a. At -will Management & Professional positions. Department heads hired after July 1, 2004 and prior to the date of adoption of this plan were hired as at -will employees whose terms of employment are specified by an employment contract that includes a severance package. Effective on the date of adoption of this plan, new employees hired or promoted to department head, assistant department director, and all other positions listed on Attachment B shall be at -will employees. At -will employees will be eligible for, and shall receive, all regular benefits (i.e., health insurance, PERS contribution to the extent paid by City, etc.) and vacation, sick leave, and management leave as are generally provided to management employees and described in this compensation plan, as amended from time to time. At -will employees who are terminated or asked to resign shall. upon execution of a release of all claims against the 22 Item 10: Staff Report Pg. 30 Packet Pg. 98 of 254 City, be eligible for a severance payment equivalent to four (4) week increasing after completion of the first full year of service by o Item 10 Attachment B - Management and Professional efits npensation Plan 2023-�.-V 2025 Revised 2024 who has completed six (6) years of service would be eligible to receive ten (10) weeks of severance (4 weeks plus 1 week for each year of service). No severance shall be paid if the employee is terminated for serious misconduct involving abuse of his or her office or position, including but not limited to waste, fraud, violation of the law under color of authority, misappropriation of public resources, violence, harassment or discrimination. If the employee is later convicted of a crime involving such abuse of his or her position the employee shall fully reimburse the City as set forth in Government Code section 53243.3. b. Provisional employees. The City has created a program for Provisional employment when funding is available. The program's purpose is to create limited duration senior management level work for the City Manager's Office or as designated by the City Manager. A Provisional Employee will be an "at will" employee whose term of employment shall be no more than two (2) years. A Provisional Employee shall be exempt and not eligible to earn overtime. A Provisional Employee will receive limited benefits as specified in an Employment Agreement. Sections I and II of this Compensation Plan shall not apply to Provisional Employees, except as specified by the City Manager. c. Management and Legal Fellows. The City has created programs for Management Fellows and Legal Fellows when funding is available. The programs' purpose is to create limited duration entry level positions for management graduates and lawyers. Fellows will be "at will" employees whose term of employment shall be no more than two (2) years. Fellows shall be PERS exempt to the extent allowed by law, but may receive vacation, sick leave, health care benefits and other limited benefits, as determined by the City Manager or City Attorney. Sections I and II of this Plan shall not apply to Management and Legal Fellows, except as specified by the City Manager or City Attorney. Q. HIRING PROVISIONS a. Reimbursement For Relocation Expense 23 Item 10: Staff Report Pg. 31 Packet Pg. 99 of 254 Item 10 Attachment B - Management and Policy Statement Professional The City of Palo Alto, in rare instances, may provide a Basic Relocation Be compensation Plan 2023 new management and professional employees, upon the approval of the City 2025 Revised 2024 ated subordinate. In addition, the provision of "Optional Benefits" or portions thereof, may be extended for exceptional circumstances and only the approval of the City Manager or designee, or for Council - appointed officers, the City Council. The details of the Relocation Expense program are specified in the City's Relocation Expense policy and all relocation reimbursements shall be subject to the provisions of that policy. b. Hiring Incentive Council Appointed Officers may authorize a hiring incentive for critical Management and Professional personnel vacancies. Hiring incentives must be funded through department salary savings. R. MEAL ALLOWANCE Management and professional employees assigned to attend night meetings are eligible to receive reimbursement for up to $20.00 per dinner. This provision covers only receipted meals actually taken and submitted for reimbursement. S. GRIEVANCES REGARDING COUNCIL APPOINTED OFFICERS Notwithstanding the grievance procedures provided in Chapter 11 of the City of Palo Alto's Merit System Rules and Regulations, any Management and Professional employee who is supervised by a Council Appointed Officer and has a grievance against that Council Appointed Officer or regarding the conduct of that Council Appointed Officer shall, following an attempt to resolve the grievance pursuant to Step One (informal discussion), summarize the grievance regarding the Council Appointed Officer in writing and submit it to the Director of Human Resources for review and resolution using the methods he/she considers appropriate. T. MERIT RULES The City will include members of the Management/Professional Compensation Committee in discussions regarding revision of the Merit Rules and Regulations. 24 Item 10: Staff Report Pg. 32 Packet Pg. 100 of 254 Attachment B At -Will Positions Management and Professional Unit Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J The intent of this provision under the Management/Professional Compensation Plan is to designate classifications at the department head, assistant director, deputy director, division manager and senior professional levels as at -will. The applicable Council Appointed Officer may designate newly created positions at those levels not included on this list as at -will. Existing classifications that shall be at -will include but are not limited to: Department Heads- All departments Assistant Directors- All departments Deputy Directors- All departments Division Managers - All departments Administrative Services Director, Administrative Services/Chief Financial Officer Director, Office of Management & Budget Assistant Director, Administrative Services Division Managers such as: Budget Manager; Finance Manager; Chief Procurement Officer; Manager, Real Property; Treasury Manager; Principal Analyst; Revenue Collections Manager City Attorney Chief Assistant City Attorney Assistant City Attorney Deputy City Attorney Legal Fellow City Clerk Assistant City Clerk Deputy City Clerk City Manager Assistant City Manager Chief Operating Officer Deputy City Manager Assistant to the City Manager Assistant to City Manager Chief Communications Officer 25 Item 10: Staff Report Pg. 33 Packet Pg. 101 of 254 Communications Manager Chief Transportation Official Manager Economic Development Management Fellow Community Services Director, Community Services Assistant Director, Community Services Manager, Community Services Manager, Community Services Program Senior Human Resources Director of Human Resources/Chief People Officer Assistant Director, Human Resources Human Resources Manager Senior Administrator Human Resources IT Director, IT/Chief Information Officer Manager, Information Technology Library Director, Libraries Assistant Director, Library Services Division Head, Collection & Technical Services Manager, Library Services Planning & Development Services Director, Planning & Development Services Assistant Director, Planning & Development Services Planning Manager Division Manager, Chief Planning Official Development Services Director Chief Building Official Assistant Building Official Planning Manager Public Safety Chief of Police/Director of Public Safety Fire Chief /Assistant Public Safety Director Assistant Police Chief 26 Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J Item 10: Staff Report Pg. 34 Packet Pg. 102 of 254 Emergency Services Director Deputy Director —Technical Services Division (police department) Deputy Fire Chief Puhlir Wnrkc Director, Public Works/City Engineer Assistant Director, Public Works — Environmental Services Assistant Director, Public Works — Public Services Assistant Director, Public Works — Engineering Manager, Airport Manager, Fleet Water Quality Control Plant Manager Utilities Director, Utilities Chief Operating Officer 27 Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J Item 10: Staff Report Pg. 35 Packet Pg. 103 of 254 CITY OF PALO ALTO COMPENSATION PLAN Management and Professional Personnel And Council Appointees Effective December 31, 2022 through June 30, 2025, except where specifically noted. Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 Item 10: Staff Report Pg. 36 Packet Pg. 104 of 254 SECTION I. COMPENSATION.......................................................................... A. MANAGEMENT AND PROFESSIONAL COMPENSATION POLICY........ Item 10 Attachment B - Management and Professional ;ompensation Plan 2023- 2025 Revised 2024 3 3 B. BASIC PLAN ELEMENTS............................................................................................................3 C. MANAGEMENT AND PROFESSIONAL COMPENSATION ADJUSTMENT AUTHORIZATION .......5 SECTION II. SPECIAL COMPENSATION.............................................................................................6 A. OVERTIME................................................................................................................................6 B. Floating Holiday— Days of Historical Significance...................................................................6 C. IN LIEU HOLIDAY PAY...............................................................................................................6 D. WORKING ABOVE CLASSIFICATION PAY..................................................................................7 E. STAND-BY PAY..........................................................................................................................7 F. CALL OUT PAY..........................................................................................................................7 G. NIGHT SHIFT PREMIUM...........................................................................................................7 H. UNIFORM PURCHASE PLAN - SWORN POLICE, FIRE PERSONNEL, and OPENSPACE PERSONNEL......................................................................................................................................8 I. GROUP INSURANCE.................................................................................................................8 J. EMPLOYEE ASSISTANCE PLAN...............................................................................................12 K. SAFETY DIFFERENTIALS..............................................................................................................12 L. MANAGEMENT and PROFESSIONAL BENEFIT PROGRAM.....................................................13 M. LEAVES......................................................................................................................................15 N. RETIREMENT PENSION..............................................................................................................19 O. COMMUTE INCENTIVES and PARKING......................................................................................21 P. AT -WILL STATUS....................................................................................................................22 Q. HIRING PROVISIONS..............................................................................................................23 R. MEAL ALLOWANCE................................................................................................................23 S. GRIEVANCES REGARDING COUNCIL APPOINTED OFFICERS..................................................24 T. MERIT RULES..........................................................................................................................24 AttachmentB ..................................................................................................................................................25 At -Will Positions Management and Professional Unit...................................................................................25 2 Item 10: Staff Report Pg. 37 Packet Pg. 105 of 254 COMPENSATION PLAN FOR THE CITY OF PALO ALTO Manaeement and Professional Personnel Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 As used in this Plan, the term "Management and Professional" refers to all employees, including Confidential employees, previously classified as "Management and Confidential" by the City. This group will hereafter be identified as "Management and Professional" personnel. SECTION I. COMPENSATION This section applies to all management and professional employees and does not include Council Members or Council -appointed officers. Each Council -appointed officer shall be the responsible decision -maker under this Plan for those employees in departments under his/her control. A. MANAGEMENT AND PROFESSIONAL COMPENSATION POLICY The City's policy for management and professional compensation is to establish and maintain a general structure based on marketplace norms and internal job alignment with broad compensation grades and ranges. Structures and ranges will be reviewed and updated as necessary based on marketplace survey data, internal relationships, and City financial conditions. Individual compensation adjustments will be considered by the Council -appointed officer based on (1) performance factors including achievement of predetermined objectives; (2) pay structure adjustments; and (3) City financial conditions. B. BASIC PLAN ELEMENTS 1. Structure. The compensation plan includes separate multi -grade structures for both management and professional employees. Each grade will have a salary range with a mid -point which is 20% above the minimum, and 20% below the maximum of the range. All management and professional positions will be assigned an appropriate pay grade based on salary survey data and internal relationships. Actual salary within the range is determined by experience and performance. Competitive marketplace studies will be conducted as needed by surveying a maximum of 14 organizations similar to Palo Alto in number of employees, funding mechanisms, population and services provided. These studies will focus on total compensation for management positions such as first line supervisors, administrative, confidential, professional and top management. Periodically, studies will include position -by -position comparisons using market research and internal equity data. The results of these studies may indicate that the entire pay grade structure be adjusted, that individual positions be reassigned to different pay grades, or that no change Item 10: Staff Report Pg. 38 Packet Pg. 106 of 254 Item 10 Attachment B - Management and takes place. Such adjustments will only affect the salary administ Professional , No individual salaries will be automatically changed because of structural a Compensation Plan 2023- 2025 Revised 2024 A department director may request that HR reevaluate a job or jobs in his or her department based on significant and permanent changes in job content. In doing so the director will supply needed information and will provide a position description questionnaire as requested. The Chief People Officer will respond to such requests within his or her discretion. 2. Compensation Adjustment Authorization. The City Manager may propose as part of the budget process for Council approval of a compensation adjustment based on (1) competitive market data, (2) changes in internal position relationships, (3) the City's ability to pay, and (4) a recommendation received from the Chief People Officer. Effective the first pay period following Council adoption of this plan all classifications will receive market -based increases as outlined in the salary schedule. Each Council Appointed Officer will determine the method by which the market adjustment is applied to current employees within their authority. Effective the first full pay period following July 1, 2023, all classifications will receive a four percent (4%) salary increase. Effective the first full pay period following July 1, 2024, all classifications will receive a four percent (4%) salary increase. Effective the first pay period following Council adoption of this plan all classifications will receive a one hundred dollar ($100) monthly flexible compensation payment built into the base hourly rate of pay. Employees can utilize this cash payment to cover insurance premiums or contribute to Flexible spending accounts/457 deferred compensation plans. Effective the first pay period of January 2024, all classifications will receive an additional one hundred dollars ($100) monthly flexible compensation payment built into base hourly rate of pay. a) Base Compensation. Compensation for management and professional employees includes bi-weekly base salary and is paid on a continuing basis. On a fiscal year basis, the bi-weekly base salary must fall within pay grade limits of no less than 20% below the mid -point and no more than 20% above the mid -point. Base salary increases are earned and authorized in accordance with administrative guidelines based upon growth within the position and performance, which must meet or exceed position standards defined through the performance planning and appraisal process described in subsection b below, the salary structure and the City's ability to pay. Management/professional employees who have received an overall rating of "Meets", "Higher" or "Exceeds" expectations on their annual review and who have not been on a performance improvement plan during the preceding fiscal year will be eligible for an adjustment to base compensation. Nothing herein shall preclude an employee's managerfrom awarding a mid -point 11 Item 10: Staff Report Pg. 39 Packet Pg. 107 of 254 Item 10 Attachment B - Management and adjustment increase to an employee on a performance plan at a later Professional yee's performance improve. Compensation Plan 2023- 2025 Revised 2024 b) Performance Planning and Appraisal. Performance appraisals will be conducted at the end of each fiscal year during the months of July through September 30 each year prior to determining individual employee fixed compensation. This process includes both review of previous performance plan and preparation of the performance plan for the next planning period (usually the fiscal year). Performance plans are jointly prepared by the employee and supervisor with the concurrence of the department head or Council -appointed officer. The performance plans shall contain measurable objectives which place special emphasis on position description duties or specific assignments. Progress toward meeting objectives shall be monitored periodically. The performance appraisals should be implemented in a manner that will achieve the following objectives: • Define the employee's job duties and expected level of performance for the next review period to ensure that both the employee and supervisor have a clear understanding of the employee's role and responsibilities; • Evaluate and document past performance to serve as a basis for establishing and obtaining future performance standards/objectives; • Facilitate two-way communication and understanding between the employee and his or her supervisor; • Counsel and encourage employees to work toward a learning development plan and realize their full potential; • Establish future work plan objectives. Work plans should include job related projects or special goals related to regular job duties when applicable. At the conclusion of the fiscal year (or review period), supervisors shall make a final determination of the overall performance rating. Recommendations shall be forwarded to department heads and to the Chief People Officer or appropriate Council appointed officer who will then determine individual fixed adjustments according to the provisions of the compensation plan. Each department will ensure that metrics tie to the performance appraisal. The performance planning and appraisal process should be completed by September 30. C. MANAGEMENT AND PROFESSIONAL COMPENSATION ADJUSTMENT AUTHORIZATION 1. Council -appointed officers are authorized to pay salaries in accordance with this plan to non - Council -appointed management and professional employees in an amount not to exceed the aggregate of approved management and professional positions in the Table of Organization for the applicable fiscal year. 2. Individual management and professional compensation authorized by a Council -appointed 5 Item 10: Staff Report Pg. 40 Packet Pg. 108 of 254 Item 10 Attachment B - Management and officer under the Management and Professional Compensation Pla Professional than 20% below nor more than 20% above the mid -point for the indicompen5ation Plan 2023- ades authorized in Salary Schedule attached. 2025 Revised 2024 3. The Council -appointed officers are authorized to establish such administrative rules as are necessary to implement the Management and Professional Salary Plan subject to the limitations of the approved compensation adjustment authorization and the approved grade and mid -point structure. 4. Notwithstanding any other provision of this Compensation Plan, in the event a downward adjustment of a position grade assignment indicates a reduction in the established salary of an individual employee, the Council -appointed officer may, if circumstances warrant, continue the salary for such employee in an amount in excess of the revised grade limit for a reasonable period of time. Such interim salary rates shall be defined as "Y -rates." Employees in "Y -rated" positions shall not be eligible for any increase to base salary unless and until the amount of the "Y -rated" salary is equal to or less than the published pay rates. Employees assigned to work above class duties shall not be eligible for "Y -rated" pay on conclusion of a work above class assignment. SECTION II. SPECIAL COMPENSATION This section applies to all eligible regular management and professional positions including Council Appointed Officers as applicable and including Council Members where indicated. Eligibility shall be in conformance with the Merit Rules and Regulations and Administrative Directives issued by the City Manager for the purposes of clarification and interpretation. A. OVERTIME Compensation for overtime work shall be in conformance with the Merit Rules and Regulations and Policies and Procedures. B. Floating Holiday — Days of Historical Significance Employees will be provided one floating holiday each calendar year in acknowledgement of days of historical significance. The employee with prior approval from their supervisor can use this floating holiday at any time during the year. This holiday has no cash value and will expire if unused. C. IN LIEU HOLIDAY PAY Employees who work a schedule where a regular day off falls on a holiday will be paid for the hours they would have normally worked on that day. If the holiday falls on a non -workday for an exempt employee, the employee may, with supervisory approval, take another day off within the pay period or the following pay period. 6 Item 10: Staff Report Pg. 41 Packet Pg. 109 of 254 D. WORKING ABOVE CLASSIFICATION PAY Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J Where management and professional employees, on a temporary basis, are assigned to perform all significant duties of a higher classification for a period of one month or more, the City Manager may authorize payment within the range of the higher classification for the specified time frame. All qualified and interested employees within a work group should be considered for the working above classification opportunity whenever feasible. Working above classification will not exceed six months, unless renewed at the discretion of the City Manager. On expiration of that timeframe, working above classification pay will cease and the employee will return to his or her former pay level. Working above classification pay is not to exceed 10% more than the employee's current salary and shall be documented on a Personnel Action Form, with a description of the additional duties in the higher classification to be performed and an end date. E. STAND-BY PAY Employees eligible for overtime may be entitled to stand-by pay, approved by the City Manager on a case by case basis, in extreme circumstances involving unavailability of non -management staff. Compensation is as follows: Monday through Friday $40 per day Saturday, Sunday, Holidays $58 per day F. CALL OUT PAY Effective pay period beginning February 26, 2011, Exempt management and professional classifications will be compensated for Call Out as outlined below with Management approval (and will not be eligible for overtime pay). Call Out applies when: (1) an employee previously left City premises, (2) is called back to the work location outside of regularly scheduled working hours, and (3) the Call Back is for an emergency arising out of situations involving real or potential loss of service, property or personal danger. Employees called back will be expected to respond directly to the location of the problem. Compensation is per Call Out as reported on timecard and will be paid as follows: Monday through Friday: $140 per day Saturday and Sunday: $200 per day G. NIGHT SHIFT PREMIUM Night shift differential shall be paid at the rate of five percent (5%) to regular full-time employees who are regularly assigned to shift work between 6:00 p.m. and 8:00 a.m., or to employees who are temporarily assigned to work a full shift between 6:00 p.m. and 8:00 a.m. 7 Item 10: Staff Report Pg. 42 Packet Pg. 110 of 254 H. UNIFORM PURCHASE PLAN - SWORN POLICE, FIRE PERSONNE PERSONNEL Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 Uniforms, including cleaning, will be provided with replacement provisions on an as -needed basis in conformance with department policy. I. GROUP INSURANCE 1. Effective Date of Coverage for New Employees For newly hired regular employees coverage begins on the first day of the month following date of hire for the health plan, dental plan, vision care plan, long term disability and life insurance plans if these benefits are elected. 2. Dual coverage. When a City employee is married to or has a registered domestic partner with the California Secretary of State with another City employee, each shall be covered only once (as an individual or as a spouse of the other City employee, but not both) and dependent children, if any, shall be covered by only one spouse. 3. Active Employee Health Plan a) During the term of this compensation plan, the maximum City contribution towards medical premiums for eligible full-time employees per category shall be up to a maximum of the following for any plan: Medical Premium Category (Coverage Level Maximum City Contribution Effective January 1, 2020 Single (EE only) $871 2- Party (EE +1) $1742 Family (EE + 2 or more) $2260 *The PEMHCA minimum changes per statutory determination. Any increases to the PEMHCA minimum during the term of this plan will result in a corresponding decrease to the amount of the additional City contribution, so that the total maximum City contribution never exceeds the amount listed in the "Total Maximum City Contribution" columns above. The City's total maximum contribution towards medical premiums for eligible part time employees shall be prorated based on the number of hours per week the part-time employee is assigned to work. b) Coverage For Domestic Partners Item 10: Staff Report Pg. 43 Packet Pg. 111 of 254 Item 10 Attachment B - Management and 1) Domestic Partnership Registered with the California Secreta Professional yees may add their domestic partner as a dependent to their elect Compensation Plan 2023 -rage if the domestic partnership is registered with the Secretar 2025 Revised 2024 ill be eligible for the Alternative Medical Benefit Program in paragraph 3 below. 2) Domestic Partnership Not Registered with the California Secretary of State: Domestic partners who meet the requirements of the City of Palo Alto Declaration of Domestic Partnership, and are registered with the People Strategy and Operations Department, will be eligible for a stipend of two hundred and eighty four dollars ($284.00) per month toward the cost of an individual health plan. Evidence of premium payment will be required with request for reimbursement. 4. Alternative Medical Benefit Program If a regular employee and/or the employee's dependent(s) are eligible for and elect to receive medical insurance through another non -City of Palo Alto employer -sponsored or association medical plan, the employee may choose to waive his/her right to the City of Palo Alto's medical insurance and receive cash payments in the amount of $284.00. Examples of waivers eligible for this payment are: • Employee waives all applicable City medical coverage; or • Employee is eligible to enroll his or her spouse or register his or her domestic partner with the California Secretary of State and waives medical coverage for the spouse or domestic partner; or • Employee has additional eligible dependents and waives family -level medical coverage. Participation must result in a health insurance cost savings to the City and payments per employee shall not exceed a total of two hundred eighty four dollars ($284.00) per month. To participate in the program the employee and dependents must be eligible for coverage under PEMHCA medical plans, complete a waiver of medical coverage form, and provide proof of eligible alternative medical coverage. When a City employee is married to or has a registered domestic partner with the California Secretary of State with another City employee, each shall only be eligible once (as an individual or as a spouse of the other City employee, but not both) and not eligible for a waiver. Payments will be made in the employee's paycheck beginning the first month following the employee's completion of the waiver form. Payments are subject to state and federal taxes and are not considered earnings under PERS law. Employees are responsible for notifying the City of any change in status affecting eligibility for this program (for example, life changes affecting dependent's eligibility for medical coverage through the employee) and will be responsible for repayment of amounts paid by the City contrary to the terms of this program due to the employee's failure to notify the City of a change in status. 5. Retiree Health Plan 9 Item 10: Staff Report Pg. 44 Packet Pg. 112 of 254 Item 10 Attachment B - Management and a) Employees Hired Prior to January 1, 2004 Professional Monthly City -paid premium contributions for a retiree -selected HC0mPensatbon Plan 2023-h the CaIPERS Health Benefits Program will be made as provided underc. 2025 Revised 2024 ees" Medical and Hospital Care Act. The City's monthly employer contribution for each employee retiring on or after January 1, 2007 and prior to March 31, 2011 shall be the amount necessary to pay for the cost of his or her enrollment in a health benefits plan up to the monthly premium for the second most expensive plan offered to management and professional personnel during the contract term (among the existing array of plans.) The City's contribution for an employee hired before January 1, 2004 who retires on or after March 30, 2011 shall be the same contribution amount it makes from time to time for active City employees. b) Post — 1/1/04 Hires For those Management and professional employees hired after January 1, 2004, the PERS law vesting schedule set forth in Government Code section 22893 will apply. Under that law, an employee is eligible for 50% of the specified employer health premium contribution after ten (10) years of service credit, provided at least five (5) of those years were performed at the City of Palo Alto. After ten (10) years of service credit, each additional service credit year increases the employer contribution percentage by 5% until, at 20 years' service credit, the employee will be eligible upon retirement for 100% of the specified employer contribution and 90% of their dependent coverage. The City of Palo Alto's health premium contribution for eligible post — 1/1/04 hires shall be the minimum contribution set by PERS under section 22893 based on a weighted average of available health plan premiums. c) Effective upon ratification and adoption of this compensation plan, the City shall provide active Management employees who were hired before January 1, 2004 with a one-time opportunity to opt -in to retiree health benefits provided under California Government Code section 22893. Eligible employees who wish to exercise this option shall inform the Human Resources department of their election in writing no later than 90 days following the ratification and adoption of this compensation plan. 6. Dental Plan a) The City shall pay covered plan charges on behalf of all eligible employees and dependents. (Domestic partners who are either registered with the Secretary of State or who meet the requirements of the City of Palo Alto Declaration of Domestic Partnership, and are registered with the Human Resources Department are considered dependents under the plan.) Benefits for regular part-time employees hired or assigned to a part- time schedule will be prorated in accordance with his/her percentage of a full- time work schedule. b) The City's Dental Plan provides the following: • Maximum Benefits per Calendar Year- $2,000 per person • Lifetime Maximum for Orthodontics- The City will pay up to $2,000.00 for 10 Item 10: Staff Report Pg. 45 Packet Pg. 113 of 254 orthodontia coverage (not included in annual dental maximu • Major Dental Services 50% UCR* • Orthodontics 50% UCR* • Basic Benefits (All other covered services) First Calendar Year of Eligibility 70% UCR* Subsequent Calendar Years 70%-100% *Usual, Customary, and Reasonable • Composite (tooth covered) fillings for posterior teeth Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J For each dental plan member, the percentage of coverage for basic benefits will begin at 70% for the first calendar year of coverage and increase by 10% (up to a maximum of 100%) effective the first day of the next calendar year as long as the member utilizes the plan at least once during the current year. Per the Delta Dental contract effective October 1, 2005, if the member does not utilize the plan during the current year, the percentage of coverage for the next calendar year shall remain unchanged from the current year. If a dental plan member ever loses coverage under the plan, the applicable percentage of coverage for basic benefits provided during any future period of coverage will commence at 70% as if the dental plan member was a new enrollee. Examples of when a member might lose coverage under the plan would include: • Employee goes on an unpaid leave of absence and elects not to pay the required dental premiums for his/her family's coverage during the leave. • Employee elects to drop one or more covered dependents from the plan during an open enrollment period so that they might be covered on a spouse's non- City of Palo Alto dental plan. 7. Basic Life Insurance The City shall provide a basic group term life insurance with Accidental Death and Dismemberment (AD&D) coverage, in an amount equal to the employee's annual basic pay (rounded to the next highest $1,000) at no -cost to the employee. AD&D pays an additional amount equal to the employee's annual basic pay (rounded to the next highest $1,000). 8. Suaolemental Life And AD&D Insurance An employee may, at his/her cost, purchase additional life insurance and additional AD&D coverage equal to one- or two-times his or her annual salary. The maximum amount of life insurance available to the employee is up to $325,000 and the maximum amount of AD&D coverage available is up to $325,000. 9. Long Term Disability Insurance a) The City shall provide long term disability (LTD) insurance with a benefit of 2/3 monthly salary, up to a maximum benefit of $10,000 per month. The City shall pay the premium for the first $6,000 of base monthly salary. For employees whose base monthly salary 11 Item 10: Staff Report Pg. 46 Packet Pg. 114 of 254 Item 10 Attachment B - Management and exceeds $6,000, the employee shall pay the cost of the require Professional upon their monthly salary between $6,000 and $15,000. Compensation Plan 2023- 2025 Revised 2024 b) For employees whose base monthly salary exceeds $6,000 and who have no eligible dependents covered under the City's medical, dental or vision plans, the City will pay up to $17.50 per month towards the employee's cost for LTD coverage. 10. Vision Care a) The City shall provide vision care coverage for employee and dependents. Coverage is administered by Vision Service Plan (VSP). The plan provides an exam every 12 months; lenses every 24 months; frames every 24 months, all subject to a $20 co -payment as defined in the Vision Services Benefits Plan A schedule. Benefits for regular part-time employees will be prorated as follows: Employees hired after January 1, 2004, who will work less than full time, will receive prorated premium costs for vision benefits in accordance with his/her percentage of a full-time work schedule. Vision benefits for regular part-time employees hired or assigned to a part-time schedule will be prorated in accordance with his/her percentage of a full- time work schedule. Effective July 1, 1996, dependents include eligible domestic partners who are either registered with the Secretary of State. J. EMPLOYEE ASSISTANCE PLAN The Employee Assistance Plan (EAP) provides employees with confidential personal counseling, work and family related issues, eldercare, substance abuse, etc. In addition, EAP programs provide a valuable tool for supervisors to refer troubled employees to professional outside help. This service staffed by experienced clinicians is available to employees and their dependents by calling a toll - free phone line 24 hours a day, seven days a week. Guidance is also available online. K. SAFETY DIFFERENTIALS 1. Police Department - Personnel Development Program Pursuant to administrative rules governing eligibility and qualification, one of the following differentials, whichever is higher, may be granted to sworn police personnel: A. P.O.S.T. Intermediate Certificate: five percent (5%) above base salary B. P.O.S.T. Advanced Certificate: seven and a half (7 %%) above base salary 2. Fire Department - EMT Differential 12 Item 10: Staff Report Pg. 47 Packet Pg. 115 of 254 Pursuant to administrative rules governing eligibility and qualificatio differential may be granted to sworn Fire personnel: A. EMT Differential: three percent (3%) above base salary L. MANAGEMENT and PROFESSIONAL BENEFIT PROGRAM Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J Management and professional employees are eligible for Sections 1, 2, and 3of the Management Benefit Program below. City Council Members are not eligible for benefits under Section 1 and 2 below. 1. Professional Development - Reimbursement The purpose of this program is to provide employees with resources to improve and supplement their job and professional skills. Reimbursement for authorized self- improvement activities may be granted each management and professional employee up to a maximum of five hundred dollars ($500) per fiscal year. A departmental training fund of one thousand dollars per employee ($1,000) will be established for subject matter, leadership or other training that the Department Director identifies as a need for employees within that Department. The following items are eligible for reimbursement: a) Civic and professional association memberships b) Conference participation and travel expenses, which must occur within the compensation plan period. c) Educational programs, books and videos, and tuition reimbursement designed to maintain or improve the employee's skills in performing his or her job or future job opportunities, should support the City's mission or be necessary to meet the educational requirements for qualification for employment. Permissible educational expenses are refresher courses, courses dealing with current developments, academic or vocational courses, as well as the travel expenses associated with the courses as defined by the City's travel expense report from the Policy & Procedures Manual Section 1-02 ASD. 13 Item 10: Staff Report Pg. 48 Packet Pg. 116 of 254 d) Professional and trade journal subscriptions not to exceed 1 Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J e) Approval will be at discretion of department head and signature is required on reimbursement form. Amounts under this professional development program will be pro -rated in the first year of employment or promotion into a position covered by this Compensation Plan 2. Excess Benefit This benefit is designed to meet the requirements of Section 125 of the Internal Revenue Code, with exception of Gym or Health Club Membership. Every calendar year, each employee will be provided with $2,500 that they can designate among the following options, subject to caps pursuant to IRS regulations: a) Medical Flexible Spending Account (Medical FSA). Provides reimbursement for excess medical/dental/vision, or expenses that are incurred by employees and their dependents which are not covered or reimbursed by any other source, including existing City -sponsored plans. This includes prescribed medications and copayments. However, nonprescription dietary supplements (e.g. vitamins, etc.) toiletries (e.g. toothpaste), cosmetics (e.g. face cream), and items used for cosmetic purposes (e.g. Rogaine) are not acceptable. b) Dependent Care Flexible Spending Account (Dependent Care FSA). Provides reimbursement for qualified dependent care expenses under the City's Dependent Care Assistance Program (DCAP), subject to the following limits: Dependent care expenses will be reimbursed only to the extent that the amount of such expenses reimbursed under this Management Benefit Program, when added to the amount (if any) of annual dependent care expenses that the participant has elected under the City's Flexible Benefits Plan, do not exceed the maximum permitted under the DCAP. 1) The annual amount submitted for reimbursement cannot exceed the income of the lower -paid spouse. 2) The expenses must be employment -related expenses for the care of one or more dependents who are under 13 years of age and entitled to a dependent deduction under Internal Revenue Code section 151(e) or a dependent who is physically or mentally incapable of caring for himself or herself. 3) The payments cannot be made to a child under 19 years of age or to a person claimed as a dependent. 14 Item 10: Staff Report Pg. 49 Packet Pg. 117 of 254 Item 10 Attachment B - Management and 4) If the services are provided by a dependent care c Professional must comply with all state and local laws and must provide Compensation Plan 2023-n six (6) individuals (other than a resident of the facility). 2025 Revised 2024 5) Dependent care expenses not submitted under this section are eligible under the City Dependent Care Assistance Plan (DCAP). However, the maximum amount reimbursed under DCAP will be reduced by any amount reimbursed under the Excess Benefit Plan. c) Non-taxable Professional Development Spending Account. Provides reimbursement for Non -Taxable professional development expenses (e.g., job -related training and education, seminars, training manuals, etc.) to the extent they are not paid or reimbursed under any other plan of the City. d) Gym or Health Club memberships. Provides reimbursement for annual or monthly memberships, including personal trainers. Reimbursement of this expense is taxable to the employee. e) Deferred Compensation. Provides a one-time contribution to the employee's City - sponsored 457 Deferred Compensation plan with either ICMA-RC or Mass Mutual. Amounts designated by employees to either the Medical FSA, Dependent Care FSA, or Professional Development options are done so on a "use —it -or -lose -it" basis. This means that any amounts designated and not used by the end of the calendar year (or end of the extended grace period for the medical FSA) will be forfeited by the employee and returned to the plan. Specified amounts under this benefit will be applied on a pro -rated basis for employees who are part-time or who are in a management or professional pay status for less than the full fiscal year. Such benefits will be pro -rated in the first year of employment (based on hire date) but will not be pro -rated upon separation of employment. City will explore options including a deferred compensation match up to $4000 through a pre-tax retirement savings account as a replacement for Professional Development in Section 1 and Excess Benefit as provided under Section 2. M. LEAVES 1. Sick Leave a) Sick leave shall be accrued bi-weekly provided the employee has been in a pay status for 50% or more of a bi-weekly pay period. Sick leave shall be accrued at the rate of 3.7 hours per bi-weekly pay period for those employees working a 40 -hour duty schedule. Those assigned work schedules which are greater or lesser than 40 hours will accrue sick leave at the ratio of their work schedule to 40 hours. 15 Item 10: Staff Report Pg. 50 Packet Pg. 118 of 254 Item 10 Attachment B - Management and b) Employees may use up to 20 hours of sick leave per cale Professional sonal business. The scheduling of such leave is subject to the appr compensation Plan 2023 riate level of Management. 2025 Revised 2024 c) Employees leaving the municipal service shall forfeit all accumulated sick leave, except as otherwise provided by law and by Section 609 of the Merit Rules and Regulations. In the event that notice of resignation is given, sick leave may be used only through the day which was designated as the final day of work by such notice. d) Employees that were hired before December 1, 1983 and who leave the municipal service in good standing, or who die while employed in good standing bythe city, and who have 15 or more years of continuous service shall receive compensation for unused sick leave hours in a sum equal to two and one-half percent (2Y2%) of their unused sick leave hours multiplied by their years of continuous service and their basic hourly rate of pay at termination. Full sick leave accrual will be paid in the event of termination due to disability. See Merit System Rules and Regulations, Chapter 6, Section 609. e) Up to nine (9) days of sick leave per calendar year may be used for illness in the immediate family, including a registered domestic partner. f) Management and Professional employees eligible, as specified above if hired before December 1, 1983, to be compensated for sick leave may annually convert sick leave hours in excess of 600 to cash or deferred compensation, according to the formula set forth above, up to a maximum of $2,000 per fiscal year. g) In accordance with the City Merit Rules and Regulations, a new employee may, if necessary, use up to 48 hours or shift equivalent of sick leave at any time during the first six (6) months of employment. 2. Management Annual Leave a) Exempt Employees Regular management and professional employees will be credited with 80 hours of annual leave. This leave is granted in recognition of the extra hours Management and Professional employees work over their regular schedule. This leave may be taken as paid time off, added to vacation accrual (subject to vacation accrual limitations), taken as cash or taken as deferred compensation. When time off is taken under this provision, 10 -hour shift workers will receive one shift off for each 8 hours charged; 24 -hour shift workers will receive one-half (%) shift off for each 8 hours charged. 16 Item 10: Staff Report Pg. 51 Packet Pg. 119 of 254 Item 10 Attachment B - Management and In 2012, the City transitioned this benefit from a fiscal to Professional is for administrative purposes. Beginning in 2013 and each CaI Compensation Plan 2023- fter, employees will be credited with 80 hours of management an 2025 Revised 2024 Entitlement under this provision will be reduced on a prorated basis for part-time status, or according to the number of months in paid status during the year; employees who have used more than the pro -rated share at the time they leave City service shall be required to repay the balance or have it deducted from their final check. Unused balances as of the end of the year will be paid in cash unless a different option as indicated above is elected by the employee. Council appointed Officers can, at their discretion, award additional management annual leave to employees. Award of additional leave is intended to acknowledge and recognize excellent performance and/or longevity in alignment with the annual merit cycle. 3. Vacation Vacation will be accrued when an employee is in pay status and will be credited on a bi- weekly basis. Total vacation accrual at any one time may not exceed three (3) times the annual rate of accrual. Each eligible employee shall accrue vacation at the following rate for continuous service performed in pay status: a) Less than nine (9) years. For employees completing less than nine (9) years continuous service: 120 hours vacation leave per year; provided that: i. The City Manager is authorized to adjust department head annual vacation accrual to provide for a maximum of 160 hours for those hired between July 1, 1996 and June 30, 2001; and ii. The City manager is authorized to adjust the annual vacation accrual of employees hired on or after July 1, 2001, to provide up to 40 additional hours (i.e., to a maximum annual accrual of 160 hours) for service with a prior employer. b) Nine (9), but less than fourteen (14) years. For employees completing nine (9), but not more than fourteen (14) years continuous service; 160 hours vacation peryear. c) Fourteen (14), but less than nineteen (19) years. For employees completing fourteen (14), but not more than nineteen (19) years continuous service; 180 hours vacation leave per year. d) Nineteen (19) or more years. For employees completing nineteen (19) or more years continuous service; 200 hours vacation leave per year. 17 Item 10: Staff Report Pg. 52 Packet Pg. 120 of 254 Item 10 Attachment B - Management and Professional e) Employees are eligible to cash out vacation accrual balance Compensation Pla�2021- ours. An employee may cash out a minimum of eight (8) hours to a 2025 Revised ours of accrued vacation provided the employee has taken 80 vacation hours in the previous 12 months and has followed the election procedures set forth in this section. Employees must elect the number of vacation hours they will cash -out during the next calendar year, up to the maximum of 120 hours. For the 2012 calendar vacation year, employees will make their election for vacation hours to cash out no later than November 1, 2012. The election will apply only to vacation hours that are accrued in the next calendar year and that are eligible forcash-out. The election to cash -out vacation hours in each designated year will be irrevocable. This means that employees who elect to cash -out vacation hours must cash -out the number of accrued hours pre -designates on the election form. Employees who do not elect a cash -out amount by November 1 of the prior calendar year will be deemed to have waived the right to cash out any leave in the following tax year and will not be eligible to cash -out vacation hours in the next tax year Employees who elect cash -out amounts may request a cash -out at any time in the designated tax year by submitting a cash -out form to payroll. Payroll will complete the cash -out upon request, provided the requested cash -out amount has accrued and is consistent with the amount the employee pre -designated. If the full amount of hours designated for cash -out is not available at the time of cash -out request, the maximum available will be paid. For employees who have not requested cash -out of the elected amount by November 1 of each year, Payroll will automatically cash -out the elected amount in a paycheck issued on or after the payroll date including November 1. 4. Bereavement Leave of absence with pay of three (3) days may be granted an employee by the head of his/her department in the event of death in the employee's immediate family, which is defined for purposes of this section as wife, husband, son, son-in-law, step -son, daughter, daughter-in-law, step -daughter, mother, mother-in-law, father, father-in-law, brother, brother-in-law, sister, sister-in-law, grandmother, grandmother -in-law, grandfather, grandfather -in-law, grandchild, aunt, uncle, niece, nephew, registered domestic partner, or a close relative residing in the household of employee. Such leave shall be at full pay and shall not be charged against the employee's accrued vacation or sick leave. Requests for leave in excess of three days shall be subject to the approval of a Council -Appointed Officer for employees under his/her control. 5. Use of accrued leave credits during leaves of absence. 13 Item 10: Staff Report Pg. 53 Packet Pg. 121 of 254 Item 10 Attachment B - Management and During unpaid leaves of absence for disability or other reasons, the e Professional and the City may require the employee to use accrued paid vacation Compensation Plan 2023 manner consistent with state and federal law. Requests for leaves wi 2025 Revised 2024 t be unreasonably denied. In order to avoid misunderstandings, all leaves without pay must be in writing to be effective. N. RETIREMENT PENSION 1. Miscellaneous Pension Formulas: a. Miscellaneous Pension Group A: 2.7% at 55. The City provides retirement benefits under the California Public Employees Retirement System at the level of 2.7% at age 55 for employees hired before July 17, 2010, with a one year final compensation period. b. Miscellaneous Pension Group B: 2% at 60:For miscellaneous employees hired on or after July 17, 2010, and before January 1, 2013, and employees hired on or after January 1, 2013 who are not "new members" of CaIPERS as defined in the Public Employees' Pension Reform Act (often referred to as "Classic" CaIPERS members)the City offers the CaIPERS retirement formula two percent (2.0%) of final salary at age sixty (60), with a one (1) year final compensation period. c. Miscellaneous Pension Group C: 2% at 62. Employees hired on or after January 1, 2013 meeting the definition of "new member" under the Public Employees' Pension Reform Act (Gov't. Code s. 7522 et seq.) shall be subject to all of the provisions of that law, including but not limited to the two percent at age 62 (2%@62) retirement formula with a three (3) year final compensation period. 2. Safety Pension Formulas: a. Safety Pension Group A: 3% at 50. For Safety members, the City currently offers the CaIPERS "3% at 50" full formula (Section 21362.2) benefit, with a one (1) year final compensation period. b. Safety Pension Group B: 3% at 55. Local Fire Safety members newly hired after 6/08/12 will be placed in the 3%@55 formula. As soon as administratively possible, the City intends to modify the Local Police Safety formula for new hires to 3%@55formula. c. Safety Pension Group C: New employees hired on or after January 1, 2013 who are "new members" as defined by the California Public Employees' Pension Reform Act (PEPRA), will be subject to the terms of that statute, with a three (3) year final compensation period. 3. Employee PERS Share. a. Miscellaneous Employee Shares: 19 Item 10: Staff Report Pg. 54 Packet Pg. 122 of 254 Item 10 Attachment B - Management and Employees in Miscellaneous Pension Group A shall pay the f Professional (8%) employee contribution. Compensation Plan 2023 - Employees in Miscellaneous Pension Group B shall pay the f 2025 Revised 2024 (7%) employee contribution. Employees in Miscellaneous Pension Group C shall pay the employee contribution required by the Public Employees Pension Reform Act, calculated at fifty percent (50%) of the normal cost. b. Safety Employee Shares. Employees in Safety Pension Group A shall pay the full nine percent (9%) PERS employee contribution. Employees in Safety Pension Group B shall pay the full eight percent (9%) PERS employee contribution. Employees in Safety Pension Group C shall pay the employee contribution required by the Public Employees Pension Reform Act, calculated at fifty percent (50%) of the normal cost. Employees under the 2%@62 benefit shall pay at least 50 percent of the total normal cost or the same contribution rate as "similarly situated" employees, whichever is higher. 4. Employer Share a. Miscellaneous (Non -Safety) Management and Professional: As soon as administratively possible, but no sooner than pay period including July 1, 2017 each Miscellaneous (non -Safety) Management and Professional employee shall pay one- half percent (0.5%) of their salary toward the employer cost of retirement in accordance with Section 20516 of the California Government Code. Effective the first full pay period including July 1, 2018, each Miscellaneous (non -Safety) Management and Professional employee shall pay an additional one-half percent (0.5%) of their salary toward the employer cost of retirement in accordance with Section 20516 of the California Government Code. This will result in Miscellaneous (non -Safety) Management and Professional employees paying a total of one (1) percent of the employer share in addition to their employee contribution. b. Safety Management: As soon as administratively possible, but no sooner than pay period including July 1, 2017 each Safety Management employee shall pay one and one-half percent (1.5%) of their salary toward the employer cost of retirement in accordance with Section 20516 of the California Government Code. Effective the first full pay period including July 1, 2018, each Safety Management employee shall pay an additional one and one-half percent (1.5%) of their salary toward the employer cost of retirement in accordance with Section 20516 of the California Government Code. This will result in Safety Management employees paying a total of three (3) percent of the employer share in addition to their employee contribution. 20 Item 10: Staff Report Pg. 55 Packet Pg. 123 of 254 5. Final Compensation. Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 Final compensation for purposes of retirement shall be as set forth in the City's contract with CAPERS, including, when applicable, the Government Code Section 20692: Optional Benefit, except as may otherwise be required by PEPRA. 6. Employee PERS contributions shall be made on a tax deferred basis, in accordance with Section 414(h)(2) of the Internal Revenue Code. All provisions of this subsection are subject to and conditioned upon compliance with IRS regulations. 7. Final compensation for employees under the 2%@62 benefit shall be as set forth in PEPRA, including calculation based on the average of three highest consecutive years and a cap on pensionable compensation based on IRS limits for employers that do not participate in social security. O. COMMUTE INCENTIVES and PARKING 1. Civic Center Parking. Employees assigned to Civic Center and adjacent work locations. The City will provide a Civic Center Garage parking permit. Employees hired after June 30, 1994 may initially receive a parking permit for another downtown lot, subject to the availability of space at the Civic Center Garage. 2. Alternative Commute Incentives: Employees who qualify may voluntarily elect one commute incentives, including but not limited to the following options, for those using an eligible commute alternative on 60% or more of their scheduled work days per month: a) Public Transit and Vanpool. The City provides tax-free commute incentives up to the current IRS limit, as may be amended from time to time, (currently $125/month) are available through the Commuter Check Direct (CCD) website for employees using Bay Area public transportation or riding in a registered vanpool at least 60% of their scheduled work days. Administration of the Commuter Check benefit shall be subject to the rules and regulations of the third- party administrator. b) Go Pass. The Go Pass program will offer civic center and other downtown -based employees a Caltrans Go Pass that allows unlimited rides on Caltrain in all zones seven days per week, to any City of Palo Alto employee. c) Bicycle. The City will provide employees with a tax-free incentive of $20 per month to eligible employees who ride a bicycle to work. d) Carpool. The City will provide with a taxable incentive of $30 per month to each eligible employee in a carpool with two or more licensed drivers. e) Walk. The City will provide employees with a taxable incentive of $20 per month to 21 Item 10: Staff Report Pg. 56 Packet Pg. 124 of 254 eligible employees who walk to work. P. AT -WILL STATUS Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J Certain Management and Professional Positions are designated as having "at -will" employment status. Employees hired into "at -will" positions shall have no constitutionally protected property or other interest in their employment with the City. Notwithstanding any provision in the Merit System Rules and Regulations or any other City rule, policy or procedure, at -will employees have no right to continued employment or pre -or post -disciplinary due process and work at the will and pleasure of the hiring authority (City Council, City Manager or Council -Appointed Officer). Work for an at -will employee may be eliminated and/or the employee may be terminated, or asked to resign, at any time, with or without cause, upon notice to that employee, and the employee may resign at any time upon written notice to the hiring authority. a. At -will Management & Professional positions. Department heads hired after July 1, 2004 and prior to the date of adoption of this plan were hired as at -will employees whose terms of employment are specified by an employment contract that includes a severance package. Effective on the date of adoption of this plan, new employees hired or promoted to department head, assistant department director, and all other positions listed on Attachment B shall be at -will employees. At -will employees will be eligible for, and shall receive, all regular benefits (i.e., health insurance, PERS contribution to the extent paid by City, etc.) and vacation, sick leave, and management leave as are generally provided to management employees and described in this compensation plan, as amended from time to time. At -will employees who are terminated or asked to resign shall, upon execution of a release of all claims against the City, be eligible for a severance payment equivalent to four (4) weeks of salary and benefits, increasing after completion of the first full year of service by one (1) week for every completed year of service, up to a maximum of 12 weeks. For example, an at -will employee who has completed six (6) years of service would be eligible to receive ten (10) weeks of severance (4 weeks plus 1 week for each year of service). No severance shall be paid if the employee is terminated for serious misconduct involving abuse of his or her office or position, including but not limited to waste, fraud, violation of the law under color of authority, misappropriation of public resources, violence, harassment or discrimination. If the employee is later convicted of a crime involving such abuse of his or her position the employee shall fully reimburse the City as set forth in Government Code section 53243.3. b. Provisional employees. The City has created a program for Provisional employment when funding is available. The program's purpose is to create limited duration senior management level work for the City Manager's Office or as designated by the City Manager. A Provisional Employee will be an 22 Item 10: Staff Report Pg. 57 Packet Pg. 125 of 254 Item 10 Attachment B - Management and "at will" employee whose term of employment shall be no more Professional rs. A Provisional Employee shall be exempt and not eligible to earn o Compensation Plan 2023- tonal Employee will receive limited benefits as specified in an Employment 2025 Revised 2024 ions I and II of this Compensation Plan shall not apply to Provisional Employees, except as specified by the City Manager. c. Management and Legal Fellows. The City has created programs for Management Fellows and Legal Fellows when funding is available. The programs' purpose is to create limited duration entry level positions for management graduates and lawyers. Fellows will be "at will" employees whose term of employment shall be no more than two (2) years. Fellows shall be PERS exempt to the extent allowed by law, but may receive vacation, sick leave, health care benefits and other limited benefits, as determined by the City Manager or City Attorney. Sections I and II of this Plan shall not apply to Management and Legal Fellows, except as specified by the City Manager or City Attorney. Q. HIRING PROVISIONS 1. Reimbursement For Relocation Expense Policy Statement The City of Palo Alto, in rare instances, may provide a Basic Relocation Benefits Package for new management and professional employees, upon the approval of the City Manager or designated subordinate. In addition, the provision of "Optional Benefits" or portions thereof, may be extended for exceptional circumstances and only the approval of the City Manager or designee, or for Council - appointed officers, the City Council. The details of the Relocation Expense program are specified in the City's Relocation Expense policy and all relocation reimbursements shall be subject to the provisions of that policy. 2. Hiring Incentive Council Appointed Officers may authorize a hiring incentive for critical Management and Professional personnel vacancies. Hiring incentives must be funded through department salary savings. R. MEAL ALLOWANCE Management and professional employees assigned to attend night meetings are eligible to receive reimbursement for up to $20.00 per dinner. This provision covers only receipted meals actually taken and submitted for reimbursement. 23 Item 10: Staff Report Pg. 58 Packet Pg. 126 of 254 Item 10 Attachment B - Management and S. GRIEVANCES REGARDING COUNCIL APPOINTED OFFICERS Professional Compensation Plan 2023 - Notwithstanding the grievance procedures provided in Chapter 11 of the C 2025 Revised 2024 Avierit System Rules and Regulations, any Management and Professional employee who is supervised by a Council Appointed Officer and has a grievance against that Council Appointed Officer or regarding the conduct of that Council Appointed Officer shall, following an attempt to resolve the grievance pursuant to Step One (informal discussion), summarize the grievance regarding the Council Appointed Officer in writing and submit it to the Director of Human Resources for review and resolution using the methods he/she considers appropriate. T. MERIT RULES The City will include members of the Management/Professional Compensation Committee in discussions regarding revision of the Merit Rules and Regulations. 24 Item 10: Staff Report Pg. 59 Packet Pg. 127 of 254 Attachment B At -Will Positions Management and Professional Unit Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J The intent of this provision under the Management/Professional Compensation Plan is to designate classifications at the department head, assistant director, deputy director, division manager and senior professional levels as at -will. The applicable Council Appointed Officer may designate newly created positions at those levels not included on this list as at -will. Existing classifications that shall be at -will include but are not limited to: Department Heads- All departments Assistant Directors- All departments Deputy Directors- All departments Division Managers - All departments Administrative Services Director, Administrative Services/Chief Financial Officer Director, Office of Management & Budget Assistant Director, Administrative Services Division Managers such as: Budget Manager; Finance Manager; Chief Procurement Officer; Manager, Real Property; Treasury Manager; Principal Analyst; Revenue Collections Manager City Attorney Chief Assistant City Attorney Assistant City Attorney Deputy City Attorney Legal Fellow City Clerk Assistant City Clerk Deputy City Clerk City Manager Assistant City Manager Chief Operating Officer Deputy City Manager Assistant to the City Manager Assistant to City Manager Chief Communications Officer 25 Item 10: Staff Report Pg. 60 Packet Pg. 128 of 254 Communications Manager Chief Transportation Official Manager Economic Development Management Fellow Community Services Director, Community Services Assistant Director, Community Services Manager, Community Services Manager, Community Services Program Senior Human Resources Director of Human Resources/Chief People Officer Assistant Director, Human Resources Human Resources Manager Senior Administrator Human Resources IT Director, IT/Chief Information Officer Manager, Information Technology Library Director, Libraries Assistant Director, Library Services Division Head, Collection & Technical Services Manager, Library Services Planning & Development Services Director, Planning & Development Services Assistant Director, Planning & Development Services Planning Manager Division Manager, Chief Planning Official Development Services Director Chief Building Official Assistant Building Official Planning Manager Public Safety Chief of Police/Director of Public Safety Fire Chief /Assistant Public Safety Director Assistant Police Chief 26 Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J Item 10: Staff Report Pg. 61 Packet Pg. 129 of 254 Emergency Services Director Deputy Director —Technical Services Division (police department) Deputy Fire Chief Puhlir Wnrkc Director, Public Works/City Engineer Assistant Director, Public Works — Environmental Services Assistant Director, Public Works — Public Services Assistant Director, Public Works — Engineering Manager, Airport Manager, Fleet Water Quality Control Plant Manager Utilities Director, Utilities Chief Operating Officer 27 Item 10 Attachment B - Management and Professional :ompensation Plan 2023- 2025 Revised 2024 J Item 10: Staff Report Pg. 62 Packet Pg. 130 of 254 SIDE LETTER AGREEMENT BETWEEN THE CITY OF PALO ALTO AND LOCAL 1319, INTERNATIONAL ASSOCIATION OF Item 10 Attachment C - IAFF MOA Side Letter Agreement, 2023-2025 FIRE FIGHTERS Through mutual agreement, the City of Palo Alto (City) and Local 1319, International Association of Fire Fighters (IAFF) (collectively known as "the parties") hereby agree to amend the following articles of the Memorandum of Understanding (MOU) between the parties to include the Non -Sworn classification of Fire Inspector as a recognized position within IAFF Local 1319: Article I - Recognition Section 1. Recognition. The City recognizes the Union as the exclusive representative of an employee group consisting solely of the classifications of Fire Apparatus Operator, Fire Fighter, Fire Captain, Fire Captain (forty -hour assignment), Fire Inspector Sworn and Non -Sworn, Hazardous Materials Specialist, and Hazmat Inspector, who are regularly employed by the City and others as amended into the representation unit from time to time under existing law and the Merit System Rules and Regulations. Article VI — Probationary Period Section 1. Tentative and Subject to Probationary Period. All original appointments to regular or part- time municipal service positions shall be tentative and subject to a probationary period. With the exception of the Fire Inspector (Non -Sworn) classification, Tthis probationary period shall include the fire training academies and an additional fourteen (14) months after completion of the academies (including inhouse academy), excluding time off for extended leaves of absence. Fire Inspector (Non - Sworn) Classifications shall serve a twelve (12) month probationary period, commencing with the first of emDlovment in the classification. Promotion from a non -sworn to a sworn position will be subject to the aoolicable Probationary Period. ARTICLE VII - SALARY PROVISIONS Section 1. Base Wage Rates. The top step base wage for the Fire Inspector (Non -Sworn) classification will be $80.83 and have a 5 - step series with approximately 5% between each step. During the term of the MOA, this classification will only receive the Salary Increase of 2.0% effective the first full pay period following January 1. 2025. Section 3. Salary Steps Employees in the Firefighter Rank initially appointed to the first step of the salary range of their classification shall be entitled to a merit increase to step two in the pay range upon successful completion of six (6) months of service, so long as they receive a satisfactory performance evaluation. The date of such increase shall be the first full pay period following the evaluation date. Item 10: Staff Report Pg. 63 Packet Pg. 131 of 254 Item 10 SIDE LETTER AGREEMENT ASide Le ter Agreement MOA BETWEEN Side Letter Agreement, 2023-2025 THE CITY OF PALO ALTO AND LOCAL 1319, INTERNATIONAL ASSOCIATION OF FIRE FIGHTERS Employees in the Fire Inspector (Non -Sworn) classification shall be entitled to a merit increase in the pay range upon successful completion of twelve (12) months of service, so long as they receive a satisfactory performance evaluation. The date of such increase shall be the first full pay period following the evaluation date. ARTICLE VIII - PAY DIFFERENTIALS Sworn Unit employees are eligible for the following pay differentials. Notwithstanding any provision of this agreement, total differential pay shall not exceed seventeen and a half percent (17.5%). Non -Sworn Fire Inspectors will not be eligible for the listed pay differentials. Article IX — Holidays Non -Sworn Fire Inspectors will receive paid holidays in accordance with Sections 517 and 518 of the Merit System Rules and Regulations ARTICLE XXI — RETIREMENT BENEFITS Section 1. PERS Retirement Formula. Miscellaneous Pension Formulas: a. Miscellaneous Pension Group A: 2.7% at 55. The City provides retirement benefits under the California Public Employees Retirement System at the level of 2.7% at age 55 for employees hired before July 17, 2010, with a one year final compensation period. b. Miscellaneous Pension Group B: 2% at 60:For miscellaneous emolovees hired on or after July 17 2010, and before January 1, 2013, and employees hired on or after January 1, 2013 who are not "new members" of CaIPERS as defined in the Public Employees' Pension Reform Act (often referred to as "Classic" CaIPERS members)the City offers the CaIPERS retirement formula two percent (2.0%) of final salary at age sixty (60), with a one (1) year final compensation period. c. Miscellaneous Pension Group C: 2% at 62. Employees hired on or after January 1, 2013 meeting the definition of "new member" under the Public Emplovees' Pension Reform Act (Gov't. Code s. 7522 et sea.) shall be subiect to all of the provisions of that law. including but not limited to the two percent at age 62 (2%@62) retirement formula with a three (3) year final compensation period. Item 10: Staff Report Pg. 64 Packet Pg. 132 of 254 SIDE LETTER AGREEMENT BETWEEN THE CITY OF PALO ALTO AND LOCAL 1319, INTERNATIONAL ASSOCIATION OF For the Association: For the City: Item 10 Attachment C - IAFF MOA Side Letter Agreement, 2023-2025 FIRE FIGHTERS Date Date Item 10: Staff Report Pg. 65 Packet Pg. 133 of 254 Item 10 Attachment D - IAFF Salary Schedule 2023-2025 International Fire Fighters Association PALO Salary Schedule ALTO Job Code FLSA SH/NS Job Title Effective 01/28/2023 (MKT 5%1-1.5% CPT PARA+Med Ben) Effective 07/15/2023 (4% Increase) Effective 12/30/2023 (Med Ben) Effective 07/13/2024 (4% Increase) Effective 01/11/2025 (2% Increase) Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual 601 Non-exempt SH FIRE APPARATUS OP 1 $ 40.66 1 $ 42.19 1 $ 42.60 1 $ 44.21 1 $ 45.11 2 $ 42.78 2 $ 44.41 2 $ 44.82 2 $ 46.54 2 $ 47.48 3 $ 45.01 3 $ 46.75 3 $ 47.16 3 $ 48.99 3 $ 49.98 4 $ 47.36 4 $ 49.21 4 $ 49.62 4 $ 51.57 4 $ 52.61 5 $ 49.83 5 $ 51.80 5 $ 52.21 5 $ 54.28 5 $ 55.38 6 $ 52.43 $ 12,724 $ 152,682 6 $ 54.53 $ 13,233 $ 158,791 6 $ 54.94 $ 13,333 $ 159,991 6 $ 57.14 $ 13,866 $ 166,392 6 $ 58.29 $ 14,145 $ 169,740 602 Non-exempt SH FIRE CAPTAIN 1 $ 48.62 1 $ 50.48 1 $ 50.89 1 $ 52.84 1 $ 53.89 2 $ 51.16 2 $ 53.14 2 $ 53.55 2 $ 55.62 2 $ 56.73 3 $ 53.83 3 $ 55.94 3 $ 56.35 3 $ 58.55 3 $ 59.72 4 $ 56.64 4 $ 58.88 4 $ 59.29 4 $ 61.63 4 $ 62.86 5 $ 59.60 5 $ 61.98 5 $ 62.39 5 $ 64.87 5 $ 66.17 6 $ 62.72 $ 15,221 $ 182,647 6 $ 65.24 $ 15,832 $ 189,979 6 $ 65.65 $ 15,932 $ 191,179 6 $ 68.28 $ 16,569 $ 198,831 6 $ 69.65 $ 16,902 $ 202,821 603 Non-exempt SH FIRE INSPECTOR 1 $ 51.05 1 $ 53.00 1 $ 53.41 1 $ 55.46 1 $ 56.57 2 $ 53.71 2 $ 55.79 2 $ 56.20 2 $ 58.38 2 $ 59.55 3 $ 56.52 3 $ 58.73 3 $ 59.14 3 $ 61.45 3 $ 62.68 4 $ 59.47 4 $ 61.82 4 $ 62.23 4 $ 64.68 4 $ 65.98 5 $ 62.58 5 $ 65.07 5 $ 65.48 5 $ 68.08 5 $ 69.45 6 $ 65.85 $ 15,980 $ 191,761 6 $ 68.49 $ 16,620 $ 199,443 6 $ 68.90 $ 16,720 $ 200,643 6 $ 71.66 $ 17,389 $ 208,674 6 $ 73.10 $ 17,739 $ 212,867 604 Non-exempt SH FIRE FIGHTER 1 $ 38.05 1 $ 39.49 1 $ 39.90 1 $ 41.41 1 $ 42.23 2 $ 40.03 2 $ 41.57 2 $ 41.98 2 $ 43.59 2 $ 44.45 3 $ 42.12 3 $ 43.76 3 $ 44.17 3 $ 45.88 3 $ 46.79 4 $ 44.32 4 $ 46.06 4 $ 46.47 4 $ 48.29 4 $ 49.25 5 $ 46.63 5 $ 48.48 5 $ 48.89 5 $ 50.83 5 $ 51.84 6 $ 49.06 $ 11,906 $ 142,869 6 $ 51.03 $ 12,383 $ 148,599 6 $ 51.44 $ 12,483 $ 149,799 6 $ 53.50 $ 12,983 $ 155,792 6 $ 54.57 $ 13,242 $ 158,908 606 Non-exempt SH OPER PARAMEDIC -12.5 1 $ 46.36 1 $ 48.13 1 $ 48.54 1 $ 50.39 1 $ 51.40 2 $ 48.78 2 $ 50.66 2 $ 51.07 2 $ 53.04 2 $ 54.10 3 $ 51.33 3 $ 53.33 3 $ 53.74 3 $ 55.83 3 $ 56.95 4 $ 54.01 4 $ 56.14 4 $ 56.55 4 $ 58.77 4 $ 59.95 5 $ 56.83 5 $ 59.09 5 $ 59.50 5 $ 61.86 5 $ 63.11 6 $ 59.80 $ 14,512 $ 174,144 6 $ 62.20 $ 15,094 $ 181,126 6 $ 62.61 $ 15,194 $ 182,326 6 $ 65.12 $ 15,802 $ 189,629 6 $ 66.43 $ 16,120 $ 193,444 608 Non-exempt SH CAPTAIN PARAMEDIC -12.5 1 $ 55.49 1 $ 57.62 1 $ 58.03 1 $ 60.26 1 $ 61.47 2 $ 58.39 2 $ 60.65 2 $ 61.06 2 $ 63.43 2 $ 64.70 3 $ 61.44 3 $ 63.84 3 $ 64.25 3 $ 66.77 3 $ 68.11 4 $ 64.65 4 $ 67.20 4 $ 67.61 4 $ 70.28 4 $ 71.69 5 $ 68.03 5 $ 70.74 5 $ 71.15 5 $ 73.98 5 $ 75.46 6 $ 71.59 $ 17,373 $ 208,476 6 $ 74.46 $ 18,069 $ 216,828 6 $ 74.87 $ 18,169 $ 218,028 6 $ 77.87 $ 18,896 $ 226,757 6 $ 79.43 $ 19,275 $ 231,300 610 Non-exempt SH INSPCTR PARAMDC-12.5 1 $ 55.97 1 $ 58.11 1 $ 58.52 1 $ 60.78 1 $ 62.00 2 $ 58.89 2 $ 61.17 2 $ 61.58 2 $ 63.98 2 $ 65.26 3 $ 61.97 3 $ 64.39 3 $ 64.80 3 $ 67.35 3 $ 68.69 4 $ 65.21 4 $ 67.78 4 $ 68.19 4 $ 70.89 4 $ 72.31 5 $ 68.62 5 $ 71.35 5 $ 71.76 5 $ 74.62 5 $ 76.12 6 $ 72.21 $ 17,523 $ 210,282 6 $ 75.11 $ 18,227 $ 218,720 6 $ 75.52 $ 18,327 $ 219,920 6 $ 78.55 $ 19,061 $ 228,738 6 $ 80.13 $ 19,445 $ 233,339 676 Non-exempt SH F FIGHTR PARAMEDC-12.5 1 $ 43.39 1 $ 45.04 1 $ 45.45 1 $ 47.18 1 $ 48.12 2 $ 45.65 2 $ 47.41 2 $ 47.82 2 $ 49.66 2 $ 50.65 3 $ 48.03 3 $ 49.91 3 $ 50.32 3 $ 52.27 3 $ 53.32 4 $ 50.54 4 $ 52.54 4 $ 52.95 4 $ 55.02 4 $ 56.13 5 $ 53.18 5 $ 55.30 5 $ 55.71 5 $ 57.92 5 $ 59.08 6 $ 55.96 $ 13,580 $ 162,962 6 $ 58.21 $ 14,126 $ 169,508 6 $ 58.62 $ 14,226 $ 170,708 6 $ 60.97 $ 14,795 $ 177,545 6 $ 62.19 $ 15,091 $ 181,097 Item 10: Staff Report Pg. 66 Packet Pg. 134 of 254 Item 10 Attachment D - IAFF Salary Schedule 2023-2025 International Fire Fighters Association PALO Salary Schedule ALTO Job Code FLSA SH/NS Job Title Effective 01/28/2023 (MKT 5%+ 1-1.5%CPT PARA+Med Ben) Effective 07/15/2023 (4% Increase) Effective 12/30/2023 (Med Ben) Effective 07/13/2024 (4% Increase) Effective 01/11/2025 (2% Increase) Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual 677 Non-exempt SH HAZ MAT SPEC 1 $ 52.51 1 $ 54.53 1 $ 54.94 1 $ 57.04 1 $ 58.20 2 $ 55.25 2 $ 57.40 2 $ 57.81 2 $ 60.04 2 $ 61.26 3 $ 58.14 3 $ 60.42 3 $ 60.83 3 $ 63.20 3 $ 64.48 4 $ 61.18 4 $ 63.60 4 $ 64.01 4 $ 66.53 4 $ 67.87 5 $ 64.38 5 $ 66.95 5 $ 67.36 5 $ 70.03 5 $ 71.44 6 $ 67.75 $ 16,441 $ 197,294 6 $ 70.47 $ 17,101 $ 205,209 6 $ 70.88 $ 17,201 $ 206,409 6 $ 73.72 $ 17,889 $ 214,673 6 $ 75.20 $ 18,249 $ 218,982 678 Non-exempt SH HAZ MAT INSPECTOR 1 $ 51.05 1 $ 53.00 1 $ 53.41 1 $ 55.46 1 $ 56.57 2 $ 53.71 2 $ 55.79 2 $ 56.20 2 $ 58.38 2 $ 59.55 3 $ 56.52 3 $ 58.73 3 $ 59.14 3 $ 61.45 3 $ 62.68 4 $ 59.47 4 $ 61.82 4 $ 62.23 4 $ 64.68 4 $ 65.98 5 $ 62.58 5 $ 65.07 5 $ 65.48 5 $ 68.08 5 $ 69.45 6 $ 65.85 $ 15,980 $ 191,761 6 $ 68.49 $ 16,620 $ 199,443 6 $ 68.90 $ 16,720 $ 200,643 6 $ 71.66 $ 17,389 $ 208,674 6 $ 73.10 $ 17,739 $ 212,867 680 Non-exempt SH FIRE FIGHTER HAZ MAT 1 $ 39.93 1 $ 41.43 1 $ 41.84 1 $ 43.42 1 $ 44.32 2 $ 42.01 2 $ 43.61 2 $ 44.02 2 $ 45.71 2 $ 46.65 3 $ 44.20 3 $ 45.91 3 $ 46.32 3 $ 48.12 3 $ 49.10 4 $ 46.50 4 $ 48.33 4 $ 48.74 4 $ 50.65 4 $ 51.68 5 $ 48.93 5 $ 50.87 5 $ 51.28 5 $ 53.32 5 $ 54.40 6 $ 51.48 $ 12,493 $ 149,916 6 $ 53.55 $ 12,995 $ 155,938 6 $ 53.96 $ 13,095 $ 157,138 6 $ 56.13 $ 13,621 $ 163,451 6 $ 57.26 $ 13,895 $ 166,741 681 Non-exempt SH FIRE APPR OP HAZ MAT 1 $ 42.67 1 $ 44.28 1 $ 44.69 1 $ 46.38 1 $ 47.31 2 $ 44.89 2 $ 46.61 2 $ 47.02 2 $ 48.82 2 $ 49.80 3 $ 47.23 3 $ 49.06 3 $ 49.47 3 $ 51.39 3 $ 52.42 4 $ 49.69 4 $ 51.64 4 $ 52.05 4 $ 54.09 4 $ 55.18 5 $ 52.28 5 $ 54.36 5 $ 54.77 5 $ 56.94 5 $ 58.08 6 $ 55.01 $ 13,350 $ 160,195 6 $ 57.22 $ 13,885 $ 166,625 6 $ 57.63 $ 13,985 $ 167,825 6 $ 59.94 $ 14,545 $ 174,545 6 $ 61.14 $ 14,837 $ 178,040 682 Noo-exempt SH FIRE CAPTAIN HAZ MAT 1 $ 51.05 1 $ 53.01 1 $ 53.42 1 $ 55.47 1 $ 56.57 2 $ 53.72 2 $ 55.80 2 $ 56.21 2 $ 58.39 2 $ 59.55 3 $ 56.53 3 $ 58.74 3 $ 59.15 3 $ 61.46 3 $ 62.68 4 $ 59.48 4 $ 61.83 4 $ 62.24 4 $ 64.69 4 $ 65.98 5 $ 62.59 5 $ 65.08 5 $ 65.49 5 $ 68.09 5 $ 69.45 6 $ 65.86 $ 15,983 $ 191,790 6 $ 68.50 $ 16,623 $ 199,472 6 $ 68.91 $ 16,723 $ 200,672 6 $ 71.67 $ 17,392 $ 208,703 6 $ 73.11 $ 17,741 $ 212,896 683 Noo-exempt SH FIRE FIGHTER EMT 1 $ 39.18 1 $ 40.66 1 $ 41.07 1 $ 42.63 1 $ 43.48 2 $ 41.22 2 $ 42.80 2 $ 43.21 2 $ 44.87 2 $ 45.77 3 $ 43.37 3 $ 45.05 3 $ 45.46 3 $ 47.23 3 $ 48.18 4 $ 45.63 4 $ 47.42 4 $ 47.83 4 $ 49.72 4 $ 50.72 5 $ 48.01 5 $ 49.92 5 $ 50.33 5 $ 52.34 5 $ 53.39 6 $ 50.52 $ 12,260 $ 147,220 6 $ 52.55 $ 12,752 $ 153,026 6 $ 52.96 $ 12,852 $ 154,226 6 $ 55.09 $ 13,369 $ 160,422 6 $ 56.20 $ 13,638 $ 163,654 684 Noo-exempt SH FIRE FGHTR HZ MT EMT 1 $ 41.06 1 $ 42.62 1 $ 43.03 1 $ 44.67 1 $ 45.56 2 $ 43.20 2 $ 44.86 2 $ 45.27 2 $ 47.02 2 $ 47.96 3 $ 45.45 3 $ 47.22 3 $ 47.63 3 $ 49.49 3 $ 50.48 4 $ 47.82 4 $ 49.71 4 $ 50.12 4 $ 52.09 4 $ 53.14 5 $ 50.32 5 $ 52.33 5 $ 52.74 5 $ 54.83 5 $ 55.94 6 $ 52.95 $ 12,850 $ 154,196 6 $ 55.08 $ 13,366 $ 160,393 6 $ 55.49 $ 13,466 $ 161,593 6 $ 57.72 $ 14,007 $ 168,081 6 $ 58.88 $ 14,288 $ 171,459 685 Noo-exempt SH FIRE APPARATUS OP EMT 1 $ 41.87 1 $ 43.46 1 $ 43.87 1 $ 45.53 1 $ 46.46 2 $ 44.05 2 $ 45.75 2 $ 46.16 2 $ 47.93 2 $ 48.90 3 $ 46.35 3 $ 48.16 3 $ 48.57 3 $ 50.45 3 $ 51.47 4 $ 48.77 4 $ 50.69 4 $ 51.10 4 $ 53.11 4 $ 54.18 5 $ 51.32 5 $ 53.36 5 $ 53.77 5 $ 55.91 5 $ 57.03 6 $ 54.00 $ 13,105 $ 157,254 6 $ 56.17 $ 13,631 $ 163,567 6 $ 56.58 $ 13,731 $ 164,767 6 $ 58.85 $ 14,281 $ 171,371 6 $ 60.03 $ 14,567 $ 174,807 Item 10: Staff Report Pg. 67 • ] Packet Pg. 135 of 254 Item 10 Attachment D - IAFF Salary Schedule 2023-2025 International Fire Fighters Association PALO Salary Schedule ALTO Job Code FLSA SH/NS Job Title Effective 01/28/2023 (MKT 5% 1-1.5% CPT PARA+Med Ben) Effective 07/15/2023 (4% Increase) Effective 12/30/2023 (Med Ben) Effective 07/13/2024 (4% Increase) Effective 01/11/2025 (2% Increase) Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual 686 Non-exempt SH FIRE AP OP HZ MT EMT 1 $ 43.88 1 $ 45.54 1 $ 45.95 1 $ 47.71 1 $ 48.66 2 $ 46.17 2 $ 47.94 2 $ 48.35 2 $ 50.22 2 $ 51.22 3 $ 48.58 3 $ 50.46 3 $ 50.87 3 $ 52.86 3 $ 53.92 4 $ 51.11 4 $ 53.12 4 $ 53.53 4 $ 55.64 4 $ 56.76 5 $ 53.78 5 $ 55.92 5 $ 56.33 5 $ 58.57 5 $ 59.75 6 $ 56.59 $ 13,733 $ 164,796 6 $ 58.86 $ 14,283 $ 171,400 6 $ 59.27 $ 14,383 $ 172,600 6 $ 61.65 $ 14,960 $ 179,525 6 $ 62.89 $ 15,261 $ 183,136 687 Non-exempt SH FIRE CAPTAIN EMT 1 $ 50.09 1 $ 52.00 1 $ 52.41 1 $ 54.42 1 $ 55.50 2 $ 52.70 2 $ 54.74 2 $ 55.15 2 $ 57.28 2 $ 58.42 3 $ 55.45 3 $ 57.62 3 $ 58.03 3 $ 60.29 3 $ 61.49 4 $ 58.35 4 $ 60.65 4 $ 61.06 4 $ 63.46 4 $ 64.73 5 $ 61.40 5 $ 63.84 5 $ 64.25 5 $ 66.80 5 $ 68.14 6 $ 64.61 $ 15,679 $ 188,150 6 $ 67.20 $ 16,307 $ 195,686 6 $ 67.61 $ 16,407 $ 196,886 6 $ 70.32 $ 17,064 $ 204,772 6 $ 71.73 $ 17,406 $ 208,878 688 Non-exempt SH FIRE CAP HAZ MAT EMT 1 $ 52.49 1 $ 14.51 1 $ 54.92 1 $ 57.03 1 $ 58.18 2 $ 55.23 2 $ 57.38 2 $ 57.79 2 $ 60.03 2 $ 61.24 3 $ 58.12 3 $ 60.40 3 $ 60.81 3 $ 63.19 3 $ 64.46 4 $ 61.16 4 $ 63.58 4 $ 63.99 4 $ 66.52 4 $ 67.85 5 $ 64.36 5 $ 66.93 5 $ 67.34 5 $ 70.02 5 $ 71.42 6 $ 67.73 $ 16,436 $ 197,236 6 $ 70.45 $ 17,096 $ 205,150 6 $ 70.86 $ 17,196 $ 206,350 6 $ 73.70 $ 17,885 $ 214,614 6 $ 75.18 $ 18,244 $ 218,924 689 Non-exempt SH FIRE INSPECTOR EMT 1 $ 52.59 1 $ 54.61 1 $ 55.02 1 $ 57.12 1 $ 58.26 2 $ 55.34 2 $ 57.48 2 $ 57.89 2 $ 60.13 2 $ 61.33 3 $ 58.23 3 $ 60.50 3 $ 60.91 3 $ 63.29 3 $ 64.56 4 $ 61.27 4 $ 63.68 4 $ 64.09 4 $ 66.62 4 $ 67.96 5 $ 64.47 5 $ 67.03 5 $ 67.44 5 $ 70.13 5 $ 71.54 6 $ 67.84 $ 16,463 $ 197,556 6 $ 70.56 $ 17,123 $ 205,471 6 $ 70.97 $ 17,223 $ 206,671 6 $ 73.82 $ 17,914 $ 214,964 6 $ 75.30 $ 18,273 $ 219,274 691 Non-exempt SH F FGH PROMO -12.5 EMT 1 $ 44.56 1 $ 46.25 1 $ 46.66 1 $ 48.44 1 $ 49.41 2 $ 46.88 2 $ 48.68 2 $ 49.09 2 $ 50.99 2 $ 52.01 3 $ 49.33 3 $ 51.24 3 $ 51.65 3 $ 53.67 3 $ 54.75 4 $ 51.90 4 $ 53.94 4 $ 54.35 4 $ 56.49 4 $ 57.63 5 $ 54.61 5 $ 56.78 5 $ 57.19 5 $ 59.46 5 $ 60.66 6 $ 57.46 $ 13,944 $ 167,330 6 $ 59.77 $ 14,504 $ 174,050 6 $ 60.18 $ 14,604 $ 175,250 6 $ 62.59 $ 15,189 $ 182,262 6 $ 63.85 $ 15,494 $ 185,931 693 Non-exempt SH OPR PRMDC-12.5 EMT 1 $ 47.60 1 $ 49.41 1 $ 49.82 1 $ 51.72 1 $ 52.75 2 $ 50.08 2 $ 52.01 2 $ 52.42 2 $ 54.44 2 $ 55.53 3 $ 52.69 3 $ 54.75 3 $ 55.16 3 $ 57.31 3 $ 58.45 4 $ 55.44 4 $ 57.63 4 $ 58.04 4 $ 60.33 4 $ 61.53 5 $ 58.34 5 $ 60.66 5 $ 61.07 5 $ 63.50 5 $ 64.77 6 $ 61.39 $ 14,898 $ 178,774 6 $ 63.85 $ 15,494 $ 185,931 6 $ 64.26 $ 15,594 $ 187,131 6 $ 66.84 $ 16,220 $ 194,638 6 $ 68.18 $ 16,545 $ 198,540 695 Non-exempt SH CAPT PRMDC-12.5 EMT 1 $ 56.95 1 $ 59.14 1 $ 59.55 1 $ 61.83 1 $ 63.08 2 $ 59.93 2 $ 62.25 2 $ 62.66 2 $ 65.08 2 $ 66.40 3 $ 63.06 3 $ 65.53 3 $ 65.94 3 $ 68.51 3 $ 69.89 4 $ 66.36 4 $ 68.98 4 $ 69.39 4 $ 72.12 4 $ 73.57 5 $ 69.83 5 $ 72.61 5 $ 73.02 5 $ 75.92 5 $ 77.44 6 $ 73.48 $ 17,832 $ 213,980 6 $ 76.43 $ 18,547 $ 222,564 6 $ 76.84 $ 18,647 $ 223,764 6 $ 79.92 $ 19,394 $ 232,727 6 $ 81.52 $ 19,782 $ 237,386 696 Non-exempt SH HAZ MAT SPEC EMT 1 $ 54.09 1 $ 56.16 1 $ 56.57 1 $ 58.74 1 $ 59.93 2 $ 56.92 2 $ 59.12 2 $ 59.53 2 $ 61.83 2 $ 63.08 3 $ 59.89 3 $ 62.23 3 $ 62.64 3 $ 65.08 3 $ 66.40 4 $ 63.02 4 $ 65.50 4 $ 65.91 4 $ 68.51 4 $ 69.89 5 $ 66.31 5 $ 68.95 5 $ 69.36 5 $ 72.12 5 $ 73.57 6 $ 69.78 $ 16,934 $ 203,205 6 $ 72.58 $ 17,613 $ 211,353 6 $ 72.99 $ 17,713 $ 212,553 6 $ 75.92 $ 18,423 $ 221,079 6 $ 77.44 $ 18,792 $ 225,505 Item 10: Staff Report Pg. 68 1 Packet Pg. 136 of 254 Item 10 Attachment D - IAFF Salary Schedule 2023-2025 International Fire Fighters Association PALO Salary Schedule ALTO Job Code FLSA SH/NS Job Title Effective 01/28/2023 (MKT 5% 1-1.5% CPT PARA+Med Ben) Effective 07/15/2023 (4% Increase) Effective 12/30/2023 (Med Ben) Effective 07/13/2024 (4% Increase) Effective 01/11/2025 (2% Increase) Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual 671 Non-exempt SH FIRE FGHTR EMT HAZ MT PARA 1 $ 45.77 1 $ 47.50 1 $ 47.91 1 $ 49.74 1 $ 50.74 2 $ 48.16 2 $ 50.00 2 $ 50.41 2 $ 52.36 2 $ 53.41 3 $ 50.67 3 $ 52.63 3 $ 53.04 3 $ 55.12 3 $ 56.22 4 $ 53.31 4 $ 55.40 4 $ 55.81 4 $ 58.02 4 $ 59.18 5 $ 56.09 5 $ 58.32 5 $ 58.73 5 $ 61.07 5 $ 62.29 6 $ 59.02 $ 14,323 $ 171,872 6 $ 61.39 $ 14,897 $ 178,768 6 $ 61.80 $ 14,997 $ 179,968 6 $ 64.28 $ 15,599 $ 187,183 6 $ 65.57 $ 15,912 $ 190,940 672 Non-exempt SH FIRE AP OP EMT HAZ MT PARA 1 $ 48.89 1 $ 50.76 1 $ 51.17 1 $ 53.13 1 $ 54.20 2 $ 51.44 2 $ 53.43 2 $ 53.84 2 $ 55.93 2 $ 57.05 3 $ 54.13 3 $ 56.24 3 $ 56.65 3 $ 58.87 3 $ 60.05 4 $ 56.96 4 $ 59.20 4 $ 59.61 4 $ 61.97 4 $ 63.21 5 $ 59.94 5 $ 62.32 5 $ 62.73 5 $ 65.23 5 $ 66.54 6 $ 63.07 $ 15,305 $ 183,666 6 $ 65.60 $ 15,919 $ 191,027 6 $ 66.01 $ 16,019 $ 192,227 6 $ 68.66 $ 16,661 $ 199,938 6 $ 70.04 $ 16,996 $ 203,956 661 Non-exempt SH FIRE CPT EMT HAZ MT PARA 1 $ 58.52 1 $ 60.78 1 $ 61.19 1 $ 63.55 1 $ 64.83 2 $ 61.58 2 $ 63.98 2 $ 64.39 2 $ 66.89 2 $ 68.24 3 $ 64.80 3 $ 67.35 3 $ 67.76 3 $ 70.41 3 $ 71.83 4 $ 68.19 4 $ 70.89 4 $ 71.30 4 $ 74.12 4 $ 75.61 5 $ 71.76 5 $ 74.62 5 $ 75.03 5 $ 78.02 5 $ 79.59 6 $ 75.52 $ 18,327 $ 219,920 6 $ 78.55 $ 19,061 $ 228,738 6 $ 78.96 $ 19,161 $ 229,938 6 $ 82.13 $ 19,930 $ 239,163 6 $ 83.78 $ 20,331 $ 243,967 634 Non-exempt NS FIRE APPARATUS OP 1 $ 56.91 1 $ 59.05 1 $ 59.63 1 $ 61.87 1 $ 63.12 2 $ 59.87 2 $ 62.16 2 $ 62.74 2 $ 65.13 2 $ 66.44 3 $ 62.99 3 $ 65.43 3 $ 66.01 3 $ 68.56 3 $ 69.94 4 $ 66.27 4 $ 68.87 4 $ 69.45 4 $ 72.17 4 $ 73.62 5 $ 69.73 5 $ 72.49 5 $ 73.07 5 $ 75.97 5 $ 77.49 6 $ 73.37 $ 12,717 $ 152,603 6 $ 76.31 $ 13,227 $ 158,725 6 $ 76.89 $ 13,327 $ 159,925 6 $ 79.97 $ 13,861 $ 166,338 6 $ 81.57 $ 14,139 $ 169,666 635 Non-exempt NS FIRE CAPTAIN 1 $ 68.09 1 $ 70.67 1 $ 71.25 1 $ 73.97 1 $ 75.45 2 $ 71.64 2 $ 74.39 2 $ 74.97 2 $ 77.86 2 $ 79.42 3 $ 75.38 3 $ 78.30 3 $ 78.88 3 $ 81.96 3 $ 83.60 4 $ 79.32 4 $ 82.42 4 $ 83.00 4 $ 86.27 4 $ 88.00 5 $ 83.46 5 $ 86.76 5 $ 87.34 5 $ 90.81 5 $ 92.63 6 $ 87.82 $ 15,222 $ 182,659 6 $ 91.33 $ 15,831 $ 189,966 6 $ 91.91 $ 15,931 $ 191,166 6 $ 95.59 $ 16,569 $ 198,827 6 $ 97.51 $ 16,902 $ 202,821 636 Non-exempt NS FIRE INSPECTOR 1 $ 71.47 1 $ 74.20 1 $ 74.78 1 $ 77.62 1 $ 79.17 2 $ 75.20 2 $ 78.10 2 $ 78.68 2 $ 81.71 2 $ 83.34 3 $ 79.13 3 $ 82.21 3 $ 82.79 3 $ 86.01 3 $ 87.73 4 $ 83.26 4 $ 86.54 4 $ 87.12 4 $ 90.54 4 $ 92.35 5 $ 87.61 5 $ 91.09 5 $ 91.67 5 $ 95.30 5 $ 97.21 6 $ 92.19 $ 15,979 $ 191,749 6 $ 95.88 $ 16,619 $ 199,430 6 $ 96.46 $ 16,719 $ 200,630 6 $ 100.32 $ 17,389 $ 208,666 6 $ 102.33 $ 17,737 $ 212,846 637 Non-exempt NS FIRE FIGHTER 1 $ 53.27 1 $ 55.26 1 $ 55.84 1 $ 57.93 1 $ 59.09 2 $ 56.04 2 $ 58.17 2 $ 58.75 2 $ 60.98 2 $ 62.20 3 $ 58.96 3 $ 61.23 3 $ 61.51 3 $ 64.19 3 $ 65.47 4 $ 62.03 4 $ 64.45 4 $ 65.03 4 $ 67.57 4 $ 68.92 5 $ 65.26 5 $ 67.54 5 $ 68.42 5 $ 71.13 5 $ 72.55 6 $ 68.66 $ 11,901 $ 142,806 6 $ 71.41 $ 12,378 $ 148,533 6 $ 71.99 $ 12,478 $ 149,733 6 $ 74.87 $ 12,977 $ 155,730 6 $ 76.37 $ 13,237 $ 158,850 638 Non-exempt NS OPER PARAMEDIC -12.5 1 $ 64.89 1 $ 67.35 1 $ 67.93 1 $ 70.50 1 $ 71.93 2 $ 68.27 2 $ 70.89 2 $ 71.47 2 $ 74.21 2 $ 75.72 3 $ 71.83 3 $ 74.62 3 $ 75.20 3 $ 78.12 3 $ 79.70 4 $ 75.58 4 $ 78.55 4 $ 79.13 4 $ 82.23 4 $ 83.89 5 $ 79.53 5 $ 82.68 5 $ 83.26 5 $ 86.56 5 $ 88.30 6 $ 83.68 $ 14,504 $ 174,048 6 $ 87.0 $$ 15,085 Is 181,022 6 $ 87.61 $ 15,185 Is 182,222 6 $ 91.12 $ 15,794 $ 189,530 6 $ 92.95 $ 16,111 $ 193,336 Item 10: Staff Report Pg. 69 1 Packet Pg. 137 of 254 Item 10 Attachment D - IAFF Salary Schedule 2023-2025 International Fire Fighters Association PALO Salary Schedule ALTO Job Code FLSA SH/NS Job Title Effective 01/28/2023 (MKT 5%+ 1-1.5%CPT PARA+Med Ben) Effective 07/15/2023 (4% Increase) Effective 12/30/2023 (Med Ben) Effective 07/13/2024 (4% Increase) Effective 01/11/2025 (2% Increase) Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual 639 Non-exempt NS CAPTAIN PARAMEDIC -12.5 1 $ 77.66 1 $ 80.64 1 $ 81.22 1 $ 84.32 1 $ 86.01 2 $ 81.72 2 $ 84.88 2 $ 85.46 2 $ 88.76 2 $ 90.54 3 $ 85.99 3 $ 89.35 3 $ 89.93 3 $ 93.43 3 $ 95.30 4 $ 90.49 4 $ 94.05 4 $ 94.63 4 $ 98.35 4 $ 100.32 5 $ 95.22 5 $ 99.00 5 $ 99.58 5 $ 103.53 5 $ 105.60 6 $ 100.20 $ 17,367 $ 208,410 6 $ 104.21 $ 18,063 $ 216,757 6 $ 104.79 $ 18,163 $ 217,957 6 $ 108.98 $ 18,890 $ 226,678 6 $ 111.16 $ 19,268 $ 231,213 641 Non-exempt NS INSPCTR PARAMDC-12.5 1 $ 78.31 1 $ 81.31 1 $ 81.89 1 $ 85.03 1 $ 86.74 2 $ 82.40 2 $ 85.59 2 $ 86.17 2 $ 89.50 2 $ 91.30 3 $ 86.71 3 $ 90.09 3 $ 90.67 3 $ 94.21 3 $ 96.10 4 $ 91.24 4 $ 94.83 4 $ 95.41 4 $ 99.17 4 $ 101.16 5 $ 96.01 5 $ 99.82 5 $ 100.40 5 $ 104.39 5 $ 106.48 6 $ 101.03 $ 17,511 $ 210,136 6 $ 105.07 $ 18,212 $ 218,546 6 $ 105.65 $ 18,312 $ 219,746 6 $ 109.88 $ 19,046 $ 228,550 6 $ 112.08 $ 19,427 $ 233,126 642 Non-exempt NS 40 -HR TRAINING CAPTAIN 1 $ 71.47 1 $ 74.20 1 $ 74.78 1 $ 77.62 1 $ 79.17 2 $ 75.20 2 $ 78.10 2 $ 78.68 2 $ 81.71 2 $ 83.34 3 $ 79.13 3 $ 82.21 3 $ 82.79 3 $ 86.01 3 $ 87.73 4 $ 83.26 4 $ 86.54 4 $ 87.12 4 $ 90.54 4 $ 92.35 5 $ 87.61 5 $ 91.09 5 $ 91.67 5 $ 95.30 5 $ 97.21 6 $ 92.19 $ 15,979 $ 191,749 6 $ 95.88 $ 16,619 $ 199,430 6 $ 96.46 $ 16,719 $ 200,630 6 $ 100.32 $ 17,389 $ 208,666 6 $ 102.33 $ 17,737 $ 212,846 643 Non-exempt NS 40 -HR TRAINING CAPTAIN EMT 1 $ 73.59 1 $ 76.40 1 $ 76.98 1 $ 79.91 1 $ 81.52 2 $ 77.43 2 $ 80.42 2 $ 81.00 2 $ 84.12 2 $ 85.81 3 $ 81.47 3 $ 84.65 3 $ 85.23 3 $ 88.55 3 $ 90.33 4 $ 85.73 4 $ 89.10 4 $ 89.68 4 $ 93.21 4 $ 95.08 5 $ 90.21 5 $ 93.79 5 $ 94.37 5 $ 98.12 5 $ 100.08 6 $ 94.93 $ 16,454 $ 197,448 6 $ 98.73 $ 17,113 $ 205,358 6 $ 99.31 $ 17,213 $ 206,558 6 $ 103.28 $ 17,902 $ 214,822 6 $ 105.35 $ 18,261 $ 219,128 644 Non-exempt NS F FIGHTR PARAMEDC-12.5 1 $ 60.72 1 $ 63.02 1 $ 63.60 1 $ 66.01 1 $ 67.33 2 $ 63.89 2 $ 66.34 2 $ 66.92 2 $ 69.48 2 $ 70.87 3 $ 67.22 3 $ 69.83 3 $ 70.41 3 $ 73.14 3 $ 74.60 4 $ 70.73 4 $ 73.50 4 $ 74.08 4 $ 76.99 4 $ 78.53 5 $ 74.42 5 $ 77.37 5 $ 77.95 5 $ 81.04 5 $ 82.66 6 $ 78.31 $ 13,573 $ 162,878 6 $ 81.44 $ 14,116 $ 169,395 6 $ 82.02 $ 14,216 $ 170,595 6 $ 85.30 $ 14,785 $ 177,424 6 $ 87.01 $ 15,082 $ 180,981 645 Non-exempt NS HAZ MAT SPEC 1 $ 73.55 1 $ 76.35 1 $ 76.93 1 $ 79.88 1 $ 81.48 2 $ 77.39 2 $ 80.37 2 $ 80.95 2 $ 84.08 2 $ 85.77 3 $ 81.43 3 $ 84.60 3 $ 85.18 3 $ 88.50 3 $ 90.28 4 $ 85.68 4 $ 89.05 4 $ 89.63 4 $ 93.16 4 $ 95.03 5 $ 90.16 5 $ 93.74 5 $ 94.32 5 $ 98.06 5 $ 100.03 6 $ 94.87 $ 16,444 $ 197,323 6 $ 98.67 $ 17,103 $ 205,234 6 $ 99.25 $ 17,203 $ 206,434 6 $ 103.22 $ 17,891 $ 214,698 6 $ 105.29 $ 18,250 $ 219,003 646 Non-exempt NS HAZ MAT INSPECTOR 1 $ 71.47 1 $ 74.20 1 $ 74.78 1 $ 77.62 1 $ 79.17 2 $ 75.20 2 $ 78.10 2 $ 78.68 2 $ 81.71 2 $ 83.34 3 $ 79.13 3 $ 82.21 3 $ 82.79 3 $ 86.01 3 $ 87.73 4 $ 83.26 4 $ 86.54 4 $ 87.12 4 $ 90.54 4 $ 92.35 5 $ 87.61 5 $ 91.09 5 $ 91.67 5 $ 95.30 5 $ 97.21 6 $ 92.19 $ 15,979 $ 191,749 6 $ 95.88 $ 16,619 $ 199,430 6 $ 96.46 $ 16,719 $ 200,630 6 $ 100.32 $ 17,389 $ 208,666 6 $ 102.33 $ 17,737 $ 212,846 647 Non-exempt NS FIRE FIGHTER HAZ MAT 1 $ 55.90 1 $ 58.00 1 $ 58.58 1 $ 60.78 1 $ 62.00 2 $ 58.81 2 $ 61.05 2 $ 61.63 2 $ 63.98 2 $ 65.26 3 $ 61.87 3 $ 64.26 3 $ 64.84 3 $ 67.35 3 $ 68.69 4 $ 65.10 4 $ 67.64 4 $ 68.22 4 $ 70.89 4 $ 72.31 5 $ 68.50 5 $ 71.20 5 $ 71.78 5 $ 74.62 5 $ 76.12 6 $ 72.07 $ 12,492 $ 149,899 6 $ 74.95 $ 12,991 $ 155,896 6 $ 75.53 $ 13,091 $ 157,096 6 $ 78.55 $ 13,615 $ 163,384 6 $ 80.13 $ 13,889 $ 166,670 [ • Item 10: Staff Report Pg. 70 Packet Pg. 138 of 254 Item 10 Attachment D - IAFF Salary Schedule 2023-2025 International Fire Fighters Association PALO Salary Schedule ALTO Job Code FLSA SH/NS Job Title Effective 01/28/2023 (MKT 5%+ 1-1.5%CPT PARA+Med Ben) Effective 07/15/2023 (4% Increase) Effective 12/30/2023 (Med Ben) Effective 07/13/2024 (4% Increase) Effective 01/11/2025 (2% Increase) Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual 650 Non-exempt NS FIRE APPR OP HAZ MAT 1 $ 59.70 1 $ 61.97 1 $ 62.55 1 $ 64.90 1 $ 66.21 2 $ 62.81 2 $ 65.23 2 $ 65.81 2 $ 68.32 2 $ 69.69 3 $ 66.09 3 $ 68.66 3 $ 69.24 3 $ 71.92 3 $ 73.36 4 $ 69.54 4 $ 72.27 4 $ 72.85 4 $ 75.71 4 $ 77.22 5 $ 73.17 5 $ 76.07 5 $ 76.65 5 $ 79.69 5 $ 81.28 6 $ 76.99 $ 13,344 $ 160,133 6 $ 80.07 $ 13,879 $ 166,546 6 $ 80.65 $ 13,979 $ 167,746 6 $ 83.88 $ 14,539 $ 174,470 6 $ 85.56 $ 14,830 $ 177,965 648 Non-exempt NS FIRE CAPTAIN HAZ MAT 1 $ 71.47 1 $ 74.20 1 $ 74.78 1 $ 77.62 1 $ 79.17 2 $ 75.20 2 $ 78.10 2 $ 78.68 2 $ 81.71 2 $ 83.34 3 $ 79.13 3 $ 82.21 3 $ 82.79 3 $ 86.01 3 $ 87.73 4 $ 83.26 4 $ 86.54 4 $ 87.12 4 $ 90.54 4 $ 92.35 5 $ 87.61 5 $ 91.09 5 $ 91.67 5 $ 95.30 5 $ 97.21 6 $ 92.19 $ 15,979 $ 191,749 6 $ 95.88 $ 16,619 $ 199,430 6 $ 96.46 $ 16,719 $ 200,630 6 $ 100.32 $ 17,389 $ 208,666 6 $ 102.33 $ 17,737 $ 212,846 649 Non-exempt NS FIRE FIGHTER EMT 1 $ 54.85 1 $ 56.91 1 $ 57.49 1 $ 59.66 1 $ 60.86 2 $ 57.71 2 $ 59.91 2 $ 60.49 2 $ 62.80 2 $ 64.06 3 $ 60.72 3 $ 63.06 3 $ 63.64 3 $ 66.11 3 $ 67.43 4 $ 63.88 4 $ 66.38 4 $ 66.96 4 $ 69.59 4 $ 70.98 5 $ 67.21 5 $ 69.87 5 $ 70.45 5 $ 73.25 5 $ 74.72 6 $ 70.72 $ 12,258 $ 147,091 6 $ 73.55 $ 12,749 $ 152,984 6 $ 74.13 $ 12,849 $ 154,184 6 $ 77.10 $ 13,364 $ 160,368 6 $ 78.65 $ 13,633 $ 163,592 651 Non-exempt NS FIRE FGHTR HZ MT EMT 1 $ 57.49 1 $ 59.66 1 $ 60.24 1 $ 62.51 1 $ 63.77 2 $ 60.49 2 $ 62.80 2 $ 63.38 2 $ 65.80 2 $ 67.13 3 $ 63.64 3 $ 66.11 3 $ 66.69 3 $ 69.26 3 $ 70.66 4 $ 66.96 4 $ 69.59 4 $ 70.17 4 $ 72.91 4 $ 74.38 5 $ 70.45 5 $ 73.25 5 $ 73.83 5 $ 76.75 5 $ 78.29 6 $ 74.13 $ 12,849 $ 154,184 6 $ 77.10 $ 13,364 $ 160,368 6 $ 77.68 $ 13,464 $ 161,568 6 $ 80.79 $ 14,004 $ 168,043 6 $ 82.41 $ 14,284 $ 171,413 652 Non-exempt NS FIRE APPARATUS OP EMT 1 $ 58.60 1 $ 60.79 1 $ 61.37 1 $ 63.70 1 $ 64.97 2 $ 61.65 2 $ 63.99 2 $ 64.57 2 $ 67.05 2 $ 68.39 3 $ 64.86 3 $ 67.36 3 $ 67.94 3 $ 70.58 3 $ 71.99 4 $ 68.24 4 $ 70.91 4 $ 71.49 4 $ 74.29 4 $ 75.78 5 $ 71.80 5 $ 74.64 5 $ 75.22 5 $ 78.20 5 $ 79.77 6 $ 75.55 $ 13,095 $ 157,138 6 $ 78.57 $ 13,619 $ 163,426 6 $ 79.15 $ 13,719 $ 164,626 6 $ 82.32 $ 14,669 $ 171,226 6 $ 83.97 $ 14,555 $ 174,658 653 Non-exempt NS FIRE AP OP HZ MT EMT 1 $ 61.41 1 $ 63.73 1 $ 64.31 1 $ 66.75 1 $ 68.09 2 $ 64.61 2 $ 67.08 2 $ 67.66 2 $ 70.26 2 $ 71.67 3 $ 67.98 3 $ 70.61 3 $ 71.19 3 $ 73.96 3 $ 75.44 4 $ 71.53 4 $ 74.33 4 $ 74.91 4 $ 77.85 4 $ 79.41 5 $ 75.26 5 $ 78.24 5 $ 78.82 5 $ 81.95 5 $ 83.59 6 $ 79.19 $ 13,726 $ 164,709 6 $ 82.36 $ 14,276 $ 171,309 6 $ 82.94 $ 14,376 $ 172,509 6 $ 86.26 $ 14,952 $ 179,421 6 $ 87.99 $ 15,252 $ 183,019 655 Non-exempt NS FIRE CAPTAIN EMT 1 $ 70.13 1 $ 72.80 1 $ 73.38 1 $ 76.18 1 $ 77.71 2 $ 73.79 2 $ 76.63 2 $ 77.21 2 $ 80.19 2 $ 81.80 3 $ 77.64 3 $ 80.66 3 $ 81.24 3 $ 84.41 3 $ 86.10 4 $ 81.70 4 $ 84.91 4 $ 85.49 4 $ 88.85 4 $ 90.63 5 $ 85.97 5 $ 89.38 5 $ 89.96 5 $ 93.53 5 $ 95.40 6 $ 90.46 $ 15,679 $ 188,150 6 $ 94.08 $ 16,307 $ 195,686 6 $ 94.66 $ 16,407 $ 196,886 6 $ 98.45 $ 17,065 $ 204,776 6 $ 100.42 $ 17,406 $ 208,874 654 Non-exempt NS FIRE CAP HAZ MAT EMT 1 $ 73.45 1 $ 76.26 1 $ 76.84 1 $ 79.78 1 $ 81.37 2 $ 77.29 2 $ 80.27 2 $ 80.85 2 $ 83.98 2 $ 85.65 3 $ 81.33 3 $ 84.49 3 $ 85.07 3 $ 88.40 3 $ 90.16 4 $ 85.58 4 $ 88.94 4 $ 89.52 4 $ 93.05 4 $ 94.91 5 $ 90.05 5 $ 93.62 5 $ 94.20 5 $ 97.95 5 $ 99.91 6 $ 94.76 $ 16,425 $ 197,094 6 $ 98.55 $ 17,082 $ 204,984 6 $ 99.13 $ 17,182 $ 206,184 6 $ 103.10 $ 17,871 $ 214,448 6 $ 105.17 $ 18,229 $ 218,754 Item 10: Staff Report Pg. 71 Packet Pg. 139 of 254 Item 10 Attachment D - IAFF Salary Schedule 2023-2025 International Fire Fighters Association PALO Salary Schedule ALTO Job Code FLSA SH/NS Job Title Effective 01/28/2023 (MKT 5%1-1.5% CPT PARA+Med Ben) Effective 07/15/2023 (4% Increase) Effective 12/30/2023 (Med Ben) Effective 07/13/2024 (4% Increase) Effective 01/11/2025 (2% Increase) Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual 656 Non-exempt NS FIRE INSPECTOR EMT 1 $ 73.59 1 $ 76.40 1 $ 76.98 1 $ 79.91 1 $ 81.52 2 $ 77.43 2 $ 80.42 2 $ 81.00 2 $ 94.12 2 $ 85.81 3 $ 81.47 3 $ 84.65 3 $ 85.23 3 $ 88.55 3 $ 90.33 4 $ 85.73 4 $ 89.10 4 $ 89.68 4 $ 93.21 4 $ 95.08 5 $ 90.21 5 $ 93.79 5 $ 94.37 5 $ 98.12 5 $ 100.08 6 $ 94.93 $ 16,454 $ 197,448 6 $ 98.73 $ 17,113 $ 205,358 6 $ 99.31 $ 17,213 $ 206,558 6 $ 103.28 $ 17,902 $ 214,822 6 $ 105.35 $ 18,261 $ 219,128 657 Non-exempt NS F FGH PRDMD-12.5 EMT 1 $ 62.36 1 $ 64.71 1 $ 65.29 1 $ 67.77 1 $ 69.13 2 $ 65.61 2 $ 68.12 2 $ 68.70 2 $ 71.34 2 $ 72.77 3 $ 69.03 3 $ 71.71 3 $ 72.29 3 $ 75.09 3 $ 76.60 4 $ 72.63 4 $ 75.48 4 $ 76.06 4 $ 79.04 4 $ 80.63 5 $ 76.42 5 $ 79.45 5 $ 80.03 5 $ 83.20 5 $ 84.87 6 $ 80.41 $ 13,937 $ 167,246 6 $ 83.63 $ 14,496 $ 173,950 6 $ 84.21 $ 14,596 $ 175,150 6 $ 87.58 $ 15,181 $ 182,166 6 $ 89.34 $ 15,486 $ 185,827 658 Non-exempt NS OPR PRMDC-12.5 EMT 1 $ 66.61 1 $ 69.15 1 $ 69.73 1 $ 72.38 1 $ 73.83 2 $ 70.09 2 $ 72.79 2 $ 73.37 2 $ 76.19 2 $ 77.72 3 $ 73.75 3 $ 76.62 3 $ 77.20 3 $ 80.20 3 $ 81.81 4 $ 77.60 4 $ 80.65 4 $ 81.23 4 $ 84.42 4 $ 86.12 5 $ 81.65 5 $ 84.89 5 $ 85.47 5 $ 88.86 5 $ 90.65 6 $ 85.92 $ 14,892 $ 178,707 6 $ 89.36 $ 15,489 $ 185,869 6 $ 89.94 $ 15,589 $ 187,069 6 $ 93.54 $ 16,214 $ 194,563 6 $ 95.42 $ 16,539 $ 198,474 697 Non-exempt NS CAPT PRMDC-12.5 EMT 1 $ 79.72 1 $ 82.76 1 $ 83.34 1 $ 86.55 1 $ 88.27 2 $ 83.88 2 $ 87.12 2 $ 87.70 2 $ 91.10 2 $ 92.92 3 $ 88.26 3 $ 91.70 3 $ 92.28 3 $ 95.89 3 $ 97.81 4 $ 92.87 4 $ 96.53 4 $ 97.11 4 $ 100.94 4 $ 102.96 5 $ 97.73 5 $ 101.61 5 $ 102.19 5 $ 106.25 5 $ 108.38 6 $ 102.84 $ 17,825 $ 213,901 6 $ 106.96 $ 18,540 $ 222,477 6 $ 107.54 $ 18,640 $ 223,677 6 $ 111.84 $ 19,386 $ 232,627 6 $ 114.08 $ 19,774 $ 237,286 660 Non-exempt NS HAZ MAT INSPECTOR EMT 1 $ 73.59 1 $ 76.40 1 $ 76.98 1 $ 79.91 1 $ 81.52 2 $ 77.43 2 $ 80.42 2 $ 81.00 2 $ 84.12 2 $ 85.81 3 $ 81.47 3 $ 84.65 3 $ 85.23 3 $ 88.55 3 $ 90.33 4 $ 85.73 4 $ 89.10 4 $ 89.68 4 $ 93.21 4 $ 95.08 5 $ 90.21 5 $ 93.79 5 $ 94.37 5 $ 98.12 5 $ 100.08 6 $ 94.93 $ 16,454 $ 197,448 6 $ 98.73 $ 17,113 $ 205,358 6 $ 99.31 $ 17,213 $ 206,558 6 $ 103.28 $ 17,902 $ 214,822 6 $ 105.35 $ 18,261 $ 219,128 659 Non-exempt NS HAZ MAT SPEC EMT 1 $ 75.73 1 $ 78.61 1 $ 79.19 1 $ 82.22 1 $ 83.87 2 $ 79.68 2 $ 82.75 2 $ 83.33 2 $ 86.55 2 $ 88.28 3 $ 83.84 3 $ 87.10 3 $ 87.68 3 $ 91.11 3 $ 92.93 4 $ 88.22 4 $ 91.68 4 $ 92.26 4 $ 95.90 4 $ 97.82 5 $ 92.83 5 $ 96.51 5 $ 97.09 5 $ 100.95 5 $ 102.97 6 $ 97.68 $ 16,931 $ 203,168 6 $ 101.59 $ 17,609 $ 211,307 6 $ 102.17 $ 17,709 $ 212,507 6 $ 106.26 $ 18,418 $ 221,021 6 $ 108.39 $ 18,788 $ 225,451 673 Non-exempt NS FIRE FGHTR EMT HAZ MT PARA 1 $ 64.03 1 $ 66.47 1 $ 67.05 1 $ 69.59 1 $ 70.98 2 $ 67.37 2 $ 69.97 2 $ 70.55 2 $ 73.25 2 $ 74.72 3 $ 70.89 3 $ 73.65 3 $ 74.23 3 $ 77.11 3 $ 78.65 4 $ 74.59 4 $ 77.53 4 $ 78.11 4 $ 81.17 4 $ 82.79 5 $ 78.49 5 $ 81.61 5 $ 82.19 5 $ 85.44 5 $ 87.15 6 $ 82.59 $ 14,315 $ 171,781 6 $ 85.90 $ 14,889 $ 178,672 6 $ 86.48 $ 14,989 $ 179,872 6 $ 89.94 $ 15,590 $ 187,075 6 $ 91.74 $ 15,902 $ 190,819 674 Non-exempt NS FIRE AP OP EMT HAZ MT PARA 1 $ 68.43 1 $ 71.03 1 $ 71.61 1 $ 74.35 1 $ 75.84 2 $ 72.00 2 $ 74.77 2 $ 75335 2 $ 78.26 2 $ 79.83 3 $ 75.76 3 $ 78.71 3 $ 79.29 3 $ 82.38 3 $ 84.03 4 $ 79.72 4 $ 82.85 4 $ 83.43 4 $ 86.72 4 $ 88.45 5 $ 83.89 5 $ 87.21 5 $ 87.79 5 $ 91.28 5 $ 93.11 6 $ 88.27 $ 15,300 $ 183,595 6 $ 91.80 $ 15,912 $ 190,944 6 $ 92.38 $ 16,012 $ 192,144 6 $ 96.08 $ 16,654 $ 199,846 6 $ 98.01 $ 16,988 $ 203,861 Item 10: Staff Report Pg. 72 Packet Pg. 140 of 254 Item 10 Attachment D - IAFF Salary Schedule 2023-2025 International Fire Fighters Association PALO Salary Schedule ALTO Job Code FLSA SH/NS Job Title Effective 01/28/2023 (MKT 5%+1-1.5% CPT PARA+ Med Ben) Effective 07/15/2023 (4% Increase) Effective 12/30/2023 (Med Ben) Effective 07/13/2024 (4% Increase) Effective 01/11/2025 (2% Increase) Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual Step Rate Monthly Annual 662 Non-exempt NS FIRE CPT EMT HAZ MT PARA 1 $ 81.91 1 $ 85.05 1 $ 85.63 1 $ 88.91 1 $ 90.71 2 $ 86.19 2 $ 89.53 2 $ 90.11 2 $ 93.59 2 $ 95.48 3 $ 90.70 3 $ 94.24 3 $ 94.82 3 $ 98.52 3 $ 100.50 4 $ 95.44 4 $ 99.20 4 $ 99.78 4 $ 103.71 4 $ 105.79 5 $ 100.43 5 $ 104.42 5 $ 105.00 5 $ 109.17 5 $ 111.36 6 $ 105.69 $ 18,319 $ 219,829 6 $ 109.92 $ 19,053 $ 228,634 6 $ 110.50 $ 19,153 $ 229,834 6 $ 114.92 $ 19,919 $ 239,034 6 $ 117.22 $ 20,318 $ 243,818 TBD Non-exempt NS Fire Inspector (Non -Sworn) 1 $ 65.84 1 $ 65.84 1 $ 67.15 2 $ 69.30 2 $ 69.30 2 $ 70.69 3 $ 72.95 3 $ 72.95 3 $ 74.41 4 $ 76.79 4 $ 76.79 4 $ 78.32 5 $ 80.83 $ 14,011 $ 168,126 5 $ 80.83 $ 14,011 $ 168,126 5 $ 82.45 $ 14,291 $ 171,489 Item 10: Staff Report Pg. 73 1 Packet Pg. 141 of 254 Item 11 Item 11 Staff Report City Council Staff Report Report Type: ACTION ITEMS CITY O F Lead Department: Ad Hoc Committee PALO a LTO Meeting Date: May 20, 2024 Report #:2405-3017 TITLE Ad Hoc Committee recommendation to the City Council on a Potential Charter Amendment on the Direct Election of the Mayor RECOMMENDATION This report will come as a late packet report on May 16, 2024. Item 11: Staff Report Pg. 1 Packet Pg. 142 of 254 Item 12 Item 12 Staff Report City Council Staff Report Report Type: ACTION ITEMS CITY O F Lead Department: City Manager PALO a LTO Meeting Date: May 20, 2024 Report #:2405-3015 TITLE Discussion and Direction Regarding the City Council Procedures and Protocols Handbook - Annual Discussion as Recommended by the Policy & Services Committee (Item Continued from May 13, 2024 City Council Meeting) RECOMMENDATION This item is a continuation of Item #12 on the City Council May 13, 2024 agenda. Materials for this item can be found here: https://cityofpaloaIto.primegov.com/Portal/Meeting?meetingTemplate Id=14261 This time provides for continued discussion, as needed, of the City Council Procedures and Protocols Handbook Annual Discussion. APPROVED BY: Ed Shikada Item 12: Staff Report Pg. 1 Packet Pg. 143 of 254 Item 13 Item 13 Staff Report CITY OF PALO ALTO City Council Staff Report From: City Manager Report Type: INFORMATION REPORTS Lead Department: Administrative Services Meeting Date: May 20, 2024 Report #:2402-2586 TITLE Investment Activity Report for the Third Quarter, Fiscal Year 2024 RECOMMENDATION This is an informational report and no City Council action is required. EXECUTIVE SUMMARY The City's Investment Policy (Policy) requires that staff report to Council quarterly on the City's portfolio composition and performance compared to the Council -adopted Policy; discuss overall compliance with the City's Investment Policy; and provide recommendations, if any, for Policy changes. In addition, staff provides a detailed list of all securities and reports on the City's ability to meet expenditure requirements over the next six months. This report is to inform Council of the City's investment portfolio performance as of the third quarter ending March 31, 2024 and to disclose staff's cash flow projections for the next six months. Staff expect that the City will have sufficient funds or liquidity to meet expenditure requirements for the next six months. The portfolio details, activities, and performance are discussed below, and additional information is provided in the attachments. During the third quarter staff complied with all aspects of the Investment Policy. ANALYSIS The City's investment portfolio is summarized in Graph 1 and detailed in the Investments by Fund Report (Attachment B). The Investments by Fund Report groups the portfolio's securities by investment type and includes details of the investment issuer, date of maturity, current market value, the book and face (par) value, and the weighted average maturity of each type of investment and of the entire portfolio. Item 13: Staff Report Pg. 1 Packet Pg. 144 of 254 Item 13 Item 13 Staff Report Graph 1: Investments by Type - $634.3 Million Liquid Accts. (Par Value) 6 9/Treasury Supranational 1.1% 7.9 U.S. Agency U.S. Corporate 31.5% 4.7 Negotiable CD - 8.0% U.S. Municipal/State 40.0% Due to rounding, the above graph's percentage total is greater than 100 percent. The par value of the City's portfolio is $634.3 million; in comparison, last quarter it was $616.7 million. The $17.6 million portfolio growth since the last quarter results from timing of cash flows from the prepayment of the City's Fiscal Year 2024 Unfunded Accrued Liability (UAL) pension cost for active employees to the Public Employers' Retirement System (PERS) totaling $41.6 million, additional major revenue receipt due to seasonality timing, and one more pay period costs in the third quarter comparted to the second quarter. By prepaying PERS instead of making payments with each payroll period, the City expects savings of $1.4 million in pension costs; however, this savings will be partially offset by the loss of approximately $759 thousand in interest income in the City's portfolio. The net citywide savings of prepaying the UAL cost is $641 thousand. The saving is a consequence of PERS' potential ability to earn interest earlier and at a higher rate than the City's portfolio could realize. Without this prepayment, an additional $11.6 million in UAL payment would have been made in the third quarter; this payment was made in first quarter's prepayment. As far as additional major revenue receipt due to seasonality timing, property taxes and related receipts begin the second and third quarters and major revenues such as sales tax, transient occupancy and utility user's taxes are historically higher in the third quarter. The portfolio consists of $43.5 million in liquid accounts and $590.8 million in various investment types as detailed in the following Table 1. The Investment Policy requires that at least $50 million be maintained in securities maturing in less than two years. The portfolio includes $206.2 million in investments maturing in less than two years, comprising 32.5% of the City's investment portfolio. In addition, the Investment Policy allows up to 30% of the portfolio to be invested in Item 13: Staff Report Pg. 2 Packet Pg. 145 of 254 Item 13 Item 13 Staff Report securities with maturities beyond five years; actual at the end of the third quarter is 29.3% of the portfolio. Table 1: FY 2024 Q3 Maturities - Par Value (millions) Up to 1 1 to 2 2 to 3 3 to 5 Over Portfolio % of Investment Type Year Years Years Years 5 Years Total * Portfolio U.S. Treasury $ 2.5 $ 3.0 $ 1.5 $ - $ - $ 7.0 1.1% U.S. Agency Bonds 10.4 64.6 16.5 10.2 98.4 200.1 31.5% U.S. Municipal/ State Bonds 21.8 32.8 57.7 55.0 86.4 253.7 40.0% Negotiable Certificates of Deposits (NCD) 15.4 10.2 8.5 15.2 1.2 50.5 8.0% U.S. Corporate Bonds 4.0 14.0 1.7 9.8 - 29.5 4.7% Supranational Organizations Bonds 1.0 26.5 12.5 10.0 - 50.0 7.9% Liquid Accounts (LAIF & Fidelity) 43.5 - - - - 43.5 6.9% $ 98.6 $151.1 $ 98.4 $ 100.2 $ 186.0 $ 634.3 100% Grand Total % of Portfolio 15.5% 23.8% 15.5% 15.8% 29.3% 100.0% * $115.2 million or 18.2% are in investments that support Environmental, Social, and Governace (ESG) Activities (aka "Green", local banks, and Supranational Bonds) The current market value of the portfolio is 93.7% of the book value. The market value of securities fluctuates, depending on how interest rates perform. When interest rates decrease, the market value of the securities in the City's portfolio will likely increase; likewise, when interest rates increase, the market value of the securities will likely decrease. Understanding and showing market values is not only a reporting requirement, but essential to knowing the principal risks in actively buying and selling securities. It is important to note, however, that the City's practice is to buy and hold investments to maturity, therefore changes in market price do not affect the City's investment principal. The market valuation is provided by U.S. Bank, which is the City's safekeeping agent. The average life to maturity of the investment portfolio is 3.38 years compared to 3.13 years last quarter. The Investment Policy states "Should the ratio of the market value of the portfolio to the book value of the portfolio fall below 95%, the Administrative Services Department will report this to the City Council within a reasonable time frame and evaluate whether there is any risk of holding any of the securities to maturity." In the prior seven quarters the market value fell below 95%; ranging from 89% to 94% during these periods. The market rate this third quarter is 93.7% of book value. Interest rates on new investments have fluctuated so the expectation is the market value of the portfolio is expected to stay in the current range in the coming quarters. To minimize risk of loss for investment principal due to lower market values, the City's investment practice is to buy and hold investments to maturity; in the instances where there is a need to sell securities for contingency cash flow planning, the City's practice is to sell securities that are at or above the market value. Item 13: Staff Report Pg. 3 Packet Pg. 146 of 254 Item 13 Item 13 Staff Report Investments Made During the Third Quarter During the third quarter, $14.4 million of securities with an average yield of 3.9% matured. During the same period, per the following Table 2, securities totaling $60.3 million with an average yield of 4.9% were purchased. As expected, as interest rates rose on new investments, the City's portfolio's average yield has begun to gradually rise. In the prior two fiscal years or during the height of the COVID-19 economic closures, the portfolio's interest rate had steadily declined. The City's short-term money market and pool account decreased by $28.4 million compared to the second quarter of Fiscal Year 2024. Staff continually monitors the City's short- term cash flow needs and adjusts liquid funds to meet them. The decrease is attributable to investment of excess cash in authorized securities per the Investment Policy and the normal timing of net cash activities. Table 2: FY 2024 Q3 Security Purchases - Par Value (millions) Up to 1 1 to 2 2 to 3 3 to 5 Over Portfolio %of Investment Type Year Years Years Years 5 Years Total* Purchase U.S. Treasury $ - $ - $ - $ - $ - $ - 0.0% U.S. Agency Bonds - - - 0.6 7.5 8.1 13.4% U.S. Municipal/ State Bonds 0.4 1.8 0.4 1.6 28.6 32.8 54.4% Negotiable Certificates of Deposits (NCD) 0.7 1.7 3.2 5.3 - 10.9 18.1% U.S. Corporate Bonds 1.0 - - 2.0 - 3.0 5.0% Supranational Organizations Bonds - - 1.0 4.5 - 5.5 9.1% Grand Total $ 2.1 $ 3.5 $ 4.6 $ 14.0 $ 36.1 $ 60.3 100% % of Purchase 3.5% 5.8% 7.6% 23.2% 59.9% 100.0% * $10 million or 16.5% are in investments that support Environmental, Social, and Governace (ESG) Activities (aka "Green", local banks, and Supranational Bonds) Availability of Funds for the Next Six Months Normally, the flow of revenues from the City's utility billings and General Fund sources is enough to provide funds for ongoing expenditures in those respective funds. Projections indicate that for the City's cashflow, an overall decline in the portfolio of $40.3 million is expected over the coming six months due to routine business activities. This reflects expected receipts of $344.5 million and expenditures of $384.8 million over the next six months. The expected decline in the portfolio is attributable to pre -paying a portion of the Fiscal Year 2025 Public Employers' Retirement System's (PERS) employer contribution of $47.2 million, representing the City's unfunded accrued liability (UAL) lump -sum prepayment for FY 2025. By prepaying PERS instead of making payments with each payroll period, the City is expected to save $1.6 million in pension expense; the savings will be offset by the loss of approximately $1 million in interest income in the City's investment portfolio. This results in net citywide savings of $0.6 million because PERS has the ability to earn interest earlier and at a higher rate than the City could realize. Item 13: Staff Report Pg. 4 Packet Pg. 147 of 254 Item 13 Item 13 Staff Report As of March 31, 2024, the City had $43.5 million deposited in the Local Agency Investment Fund (LAIF) and a money market account that could be withdrawn on a daily basis. In addition, investments totaling $32.9 million will mature between April 1, 2024 and September 31, 2024. Based on the above, staff expect that the City will have sufficient funds or liquidity to meet expenditure requirements for the next six months. Compliance with City Investment Policy During the third quarter, staff complied with all aspects of the Investment Policy. Attachment C lists the major restrictions in the City's Investment Policy compared with the portfolio's actual performance. Investment Yields Interest income on an accrual basis, for the General Fund, for the third quarter was $4.0 million; compared to the prior year's third quarter of $3.1 million or $0.9 million higher than the prior year's quarter due to higher yield investment environment and higher General Fund cash balance. As of March 31, 2024, the yield to maturity of the City's portfolio was 2.52%; in the prior quarter it was 2.39%. In the third quarter, LAIF's average yield was 4.12% while the average yield on the two-year and five-year Treasury bonds was approximately 4.48% and 4.12%, respectively. In comparison, in the prior quarter LAIF had 3.81% yield and the two-year and five-year Treasury bonds yields were higher at 4.80% and lower at 4.42%. Historically, the City's portfolio yield has outperformed the two-year and five-year Treasury bond rates and did so again several years ago; this is an expected occurrence during economic downturns. However, during economic recovery periods, interest rates rise, and the City's portfolio yield is expected to be lower, which is the current financial environment. As the City's laddered portfolio investments mature in the next year or two, funds will continue to be reinvested and trends will follow the economic patterns. Graph 2 shows the City's yields and interest earnings for the past 21+ years. Item 13: Staff Report Pg. 5 Packet Pg. 148 of 254 Item 13 Item 13 Staff Report Yields Graph 2: Yields and Interest Earnings Int.Earnings(Millions) 6.0% 5.88% $5.0 5.5% 5.25% City of Palo Alto 4.98% 0 4.48/0 $4.5 5.00% 5.0% 5-Yr. Treasury 4.54% $4.0 4.5% 4.17% 2 Yr. Treasury 3% 4.39% 4.39% $3.5 4.0% LAIF 4.00% 4.2% 3.5% 3. % $3.0 2.88% 4. 3.23% 2% 3.0% 2.63% $2.5 2.71% 2.47% 2.5% 1.80 0 $2.0 1.93% 1.66% 2.0% 2.52% $1.5 1.5% 1.44% 1.10% 1.29% $1.0 1.0% 1.41% 0.5% $0.5 0.81% 0.25% 0.27% 0.0% $0.0 aaaaa$ao°oNo°oNo°o~o°o~o"•o~o"•o~o"•o~o"•oNo"•oNoaoNo�o�o�o�o�o�o�o�o�o�o�o�o�oNoaoNoaoN ON ON 1 O1 Op Op 0 O O§O O� O O 00 O(b 00 00 1i ti v H H h h ti .v 4 4v 4v v v ti ti 41 41 N N N~ N~ N~ NN ,' ,' NO N N N N N N N N N N N N N N N N N N N N N N N N N N N N NO ry0 ry0 ry0 Fiscal Year Quarters City's portfolio duration is 3.38 years. Yield Trends The Federal Open Market Committee (FOMC), since March 2020, has raised the federal funds rate 11 times totaling 5.25% with the first occurring on March 16, 2022. Prior to this the rate was near zero. This was to mitigate the persistent elevated inflation rate from the peak of 9.1% in June to 3.4% in December 2023, slightly higher than the prior month with a 2% target. With the FOMC not raising the rate in the last five meetings, the expectation is they are done with further rate increases. The FOMC states "Recent indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated." The expectation is inflation will decline in the long-term but will fluctuate up and down in the short-term. The following tables show the U.S. inflation and unemployment rates and the U.S. Gross Domestic Product (GDP) past and recent trends. Item 13: Staff Report Pg. 6 Packet Pg. 149 of 254 Item 13 Item 13 Staff Report Graph 3: U.S. Inflation Rate The annual inflation rate in the United States went up to 3.5% in March 2024, the highest since September, compared to 3.2% in February. III 2021 U.S. Bureau of Labor Statistics 2022 II 2023 IiiIliiiii: 2024 Value Chg Chg% Item 13: Staff Report Pg. 7 Packet Pg. 150 of 254 Item 13 Item 13 Staff Report Graph 4: U.S. Unemployment Rate The unemployment rate in the United States dipped to 3.8% in March 2024 from the previous month's two-year high of 3.9%. 4.00 3.90 3.80 3.70 3.60 111111111111mil.11111111111: 2022 2023 2024 U.S. Bureau of Labor Statistics Value Chg Chg% Item 13: Staff Report Pg. 8 Packet Pg. 151 of 254 Item 13 Item 13 Staff Report Graph 5: U.S. Gross Domestic Product (GDP) Annual Growth Rate The Gross Domestic Product (GDP) in the United States expanded 3% in the first quarter of 2024, slightly below 3.1% in the last three months of 2023. 12 -4 -8 2020 O3 2021 O3 2022 O3 2023 O3 2024 U.S. Bureau of Economic Analysis Value Chg Chg% Funds Held by the City or Managed Under Contract Attachment A is a consolidated report of all City investment funds, including those not held directly in the investment portfolio. These include cash in the City's regular bank account with US Bank and Wells Fargo. A description of the City's banking relationships can be found in City Council Staff Report ID # 7858and ID # 11402ii. The bond proceeds, reserves, and debt service payments being held by the City's fiscal agents are subject to the requirements of the underlying debt indenture. The trustees for the bond funds are U.S. Bank and California Asset Management Program (CAMP). Bond funds with U.S. Bank are invested in federal agency and money market mutual funds that consist exclusively of U.S. Treasury securities. Bond funds in CAMP are invested in banker's acceptance notes, certificates of deposit, commercial paper, federal agency securities, and repurchase agreements. The most recent data on funds held by the fiscal agent is as of March 31, 2024. In January 2017, the City established a Section 115 Irrevocable Trust (Public Agencies Post - Employment Benefits Trust) administered by Public Agency Retirement Services (PARS). This fund is governed by the City's Retiree Benefit Policy as opposed to the Investment Policy; however, it is discussed in this report to present the full picture of the City's investments. It is the City's intent to prefund pension costs and began to address the Net Pension Liabilities (NPL) as calculated by Governmental Accounting Standards Board Pronouncement No. 68 (GASB 68). The Item 13: Staff Report Pg. 9 Packet Pg. 152 of 254 Item 13 Item 13 Staff Report Section 115 Trust offered by PARS has five portfolios from which to choose in making investments of City funds. In February 2023, the City Council revised the City's portfolio selection from "Moderately Conservative" to "Moderate", shifting from the second most conservative to third. Additional information on the establishment of this trust can be found in City Council Staff Report ID # 7553"' Through March 31, 2024, principal investment contributions of $61 million made over time since May 2017, has increased to $71.5 million or by $10.5 million and the net return for one and five years has been 14.2% and 5.1% respectively. Since inception, $11.2 million net earnings have been realized with $0.66 million in administrative expenses. FISCAL/RESOURCE IMPACT This is an information report. STAKEHOLDER ENGAGEMENT Staff works internally and with external parties (U.S. Bank's custodial, U.S. Bank's bonds, Wells Fargo and U.S. Bank's banking, California Asset Management Program (CAMP), and Public Agency Retirement Services (PARS)) statements to prepare this report. ENVIRONMENTAL REVIEW This Council informational report is not a project under California Environmental Quality Act (CEQA) as defined in CEQA Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably foreseeable indirect physical change in the environment. ATTACHMENTS Attachment A: Consolidated Report of Cash Management Attachment B: Investment Portfolio Attachment C: Investment Portfolio Compliance Attachment D: Investment Activities in the Report Period APPROVED BY: Lauren Lai, Director of Administrative Services ' City Council, April 11, 2017, under "Additional Information", CMR 7858: https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/reports/city-manager-reports- cmrs/year-archive/2017/7858. pdf ii City Council, September 21, 2020 Item #2, CMR 11402: https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/reports/city-manager-reports- c m rs/year-archive/2020-2/i d-11402. pd f II' City Council, January 23, 2017 Item #5, CMR 7553: https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/reports/city-manager-reports- cmrs/year-archive/2017/7553. pdf Item 13: Staff Report Pg. 10 Packet Pg. 153 of 254 Item 13 Attachment A - Consolidated Report of Cash Management Consolidated Report of Cash Management City of Palo Alto Cash and Investments Third Quarter, Fiscal Year 2023-24 (Unaudited) Book Value Market Value City Investment Portfolio (see Attachment B) $ 630,727,912 $ 591,028,874 Other Funds Held by the City Cash with Wells Fargo Bank 127,716 127,716 (includes general and imprest accounts) Cash with US Bank 2,279,324 2,279,324 Total - Other Funds Held By City 2,407,040 2,407,040 Funds Under Management of Third Party Trustees Debt Service Proceeds US Bank Trust Services ** 1999 Utility Revenue Bonds Debt Service Fund 25 25 2009 Water Revenue Bonds (Build America Bonds) Debt Service and Reserve Funds 2,394,116 2,394,116 2010 & 2013 General Obligation (Library) Bond Debt Service and Escrow Funds - - 2011 Utility Revenue Refunding Bonds Debt Service and Reserve Funds 650,039 650,039 2018 Capital Improvement (Golf Course & 2002B COP Refinance) (Taxable- Green Bond) Certificates of Participation Debt Service and Cost of Issuance Funds 785 785 2019 California Avenue Parking Garage Certificates of Participation (Tax -Exempt and Taxable Bonds) Construction and Cost of Issuance Funds 3,310 3,310 2021 Public Safety Building Certificates of Participation Construction Debt Svc, Capitalized Interest, and Cost of Issuai 2,099,858 2,099,858 2022A & B General Obligation (Library) Bond Cost of Issuance Funds 4,344 4,344 California Asset Management Program (CAMP) ** 2012 University Ave. Parking Refunding Bonds Reserve Fund 2,940,237 2,940,237 Public Agencies Post -Employment Benefits Trust **** Public Agency Retirement Services (PARS) 71,526,250 71,526,250 Total Under Trustee Management 79,618,964 79,618,964 GRAND TOTAL $ 712,753,917 $ 673,054,879 * These funds are subject to the requirements of the underlying debt indenture. ** U.S. Bank investments are in money market mutual funds that exclusively invest in U.S. Treasury securities. * CAMP investments are in money market mutual fund which invest in bankers acceptance, certificate of deposit, commercial paper, federal agency securities, and repurchase agreements. **** PARS investments are in moderately conservative index plus funds Item 13: Staff Report Pg. 11 Packet Pg. 154 of 254 Item 13 'i PA,fj Attachment B - Investment Portfolio '� City of Palo Alto o ; City of Palo Alto Administration Svcs. Dept. Fund ALL - Portfolio Listings 250 Hamilton Ave., 4th Floor Palo Alto, CA 94301 • ��l�FOR`y, �Z- Investments by Fund (650)329-2362 March 31, 2024 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity LAIF & Fidelity Cash Accounts SYS158 158 Fidelity Investments 07/01/2020 27,968,077.74 27,968,077.74 27,968,077.74 5.190 5.118 5.190 1 SYS159 159 Local Agency Investment Fund 07/01/2020 15,498,526.72 15,498,526.72 15,408,499.91 4.240 4.181 4.240 1 Subtotal and Average 43,466,604.46 43,466,604.46 43,376,577.65 4.785 4.851 1 Negotiable Certificates of Deposits 00453NAA9 2831 NCD Achieve Federal Credit Union 02/17/2023 249,000.00 249,000.00 248,001.51 4.650 4.589 4.653 02/17/2026 687 011852AK6 2850 NCD Alaska USA Federal CU 03/22/2023 249,000.00 249,000.00 253,561.68 4.850 4.789 4.855 03/22/2028 1,451 01882MAB8 2781 NCD Alliant Credit Union 12/30/2022 249,000.00 249,000.00 253,638.87 4.950 4.884 4.952 12/30/2027 1,368 022663BS6 2867 NCD Amalgamated Fin Corp Bank 04/14/2023 249,000.00 249,000.00 249,037.35 5.000 4.937 5.005 04/14/2028 1,474 028402CW3 2984 NCD American National Bank Omaha 02/28/2024 249,000.00 249,000.00 249,562.74 4.900 4.836 4.903 02/26/2027 1,061 033537BC4 2997 NCD Anderson Bros Bank 03/08/2024 249,000.00 249,000.00 249,194.22 5.100 5.033 5.103 06/09/2025 434 034577AN6 2298 NCD Aneca Federal Credit Union 03/20/2020 249,000.00 249,000.00 239,510.61 1.100 1.085 1.100 03/20/2025 353 00224TAL0 2806 NCD A+ Federal Creit Union 01/27/2023 249,000.00 249,000.00 248,048.82 4.700 4.641 4.705 01/27/2025 301 04288LAA6 2801 NCD Arsenal Credit Union 01/20/2023 249,000.00 249,000.00 248,855.58 5.100 5.030 5.100 01/21/2025 295 029733BX9 1805 NCD American State Bank OSCE 05/30/2017 245,000.00 245,000.00 243,740.70 2.300 2.270 2.301 05/30/2024 59 052392CC9 2732 NCD Austin Telco Fed. Credit Union 11/28/2022 249,000.00 249,000.00 251,148.87 5.050 4.984 5.053 11/27/2026 970 02589AEG3 2729 NCD American Express Centurion Bk 11/16/2022 249,000.00 249,000.00 253,506.90 5.000 4.931 5.000 11/16/2027 1,324 06051V7Z3 2962 NCD Bank of America 02/07/2024 249,000.00 249,000.00 247,032.90 4.850 4.787 4.854 02/08/2027 1,043 06654HAA6 2453 NCD Banner Capital Bank 11/27/2020 248,793.52 249,000.00 231,196.50 0.450 0.493 0.500 11/28/2025 606 065847EH4 2455 NCD Bank of Wisconsin Dells 11/23/2020 250,626.10 249,000.00 236,308.47 1.050 0.542 0.549 07/28/2025 483 07181JAU8 2730 NCD Baxter Credit Union 11/22/2022 249,000.00 249,000.00 250,845.09 5.000 4.940 5.009 11/23/2026 966 05988ACT7 2959 NCD BANESCO USA Bank 02/14/2024 249,000.00 249,000.00 249,144.42 4.950 4.879 4.947 08/14/2026 865 07371AYT4 2668 NCD Beal Bank - Plano, TX 03/02/2022 248,782.67 249,000.00 231,462.93 2.050 2.053 2.081 02/24/2027 1,059 88241THJ2 2346 NCD Texas Exchange Bank 06/02/2020 249,000.00 249,000.00 237,229.77 1.000 0.986 1.000 06/13/2025 438 156634AY3 2074 NCD Century Next Bank 08/30/2019 245,000.00 245,000.00 241,310.30 1.700 1.678 1.701 08/30/2024 151 066519QC6 2474 NCD BankUnited NA 01/22/2021 248,774.66 249,000.00 230,322.51 0.550 0.592 0.600 01/22/2026 661 05600XBX7 2480 NCD BMO Harris Bank 01/27/2021 248,632.66 249,000.00 214,859.61 1.000 1.019 1.034 10/27/2028 1,670 05580AXU3 2448 NCD BMW Bank of North America 11/20/2020 249,000.00 249,000.00 231,764.22 0.500 0.493 0.500 11/20/2025 598 060730AS7 3019 NCD Bank of Brenham 03/14/2024 249,000.00 249,000.00 249,784.35 5.100 5.030 5.100 03/14/2029 1,808 064236BQ4 2899 NCD Bank of Old Monroe 05/24/2023 249,000.00 249,000.00 249,226.59 5.000 4.937 5.006 05/24/2028 1,514 Portfolio CPA AP Run Date: 04/29/2024 - 12:45 Fl (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 12 Packet Pg. 155 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 2 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Negotiable Certificates of Deposits 05572YGM8 2876 NCD BOKF NA Bank 04/26/2023 249,000.00 249,000.00 249,034.86 4.950 4.886 4.953 04/26/2027 1,120 06654BFE6 2908 NCD Bankwell Bank 05/24/2023 249,000.00 249,000.00 248,972.61 5.200 5.132 5.203 05/27/2025 421 06063HQL0 2898 NCD Bank of Baroda 05/15/2023 249,000.00 249,000.00 248,621.52 5.050 4.980 5.050 11/15/2024 228 108622NQ0 2900 NCD Bridgewater Bank Bloom MN 05/26/2023 249,000.00 249,000.00 249,099.60 5.000 4.937 5.006 05/26/2028 1,516 064577GH6 2991 NCD Bank Rhode Island 02/28/2024 249,000.00 249,000.00 248,810.76 5.050 4.983 5.053 02/28/2025 333 07371CH69 2669 NCD Beal Bank USA - Las Vegas, NV 03/02/2022 248,782.67 249,000.00 231,462.93 2.050 2.053 2.081 02/24/2027 1,059 29260MBH7 2343 NCD Encore Bank 05/21/2020 249,000.00 249,000.00 223,933.17 1.150 1.134 1.150 05/21/2027 1,145 31944MBB0 2389 NCD First Carolina Bank 08/20/2020 248,000.00 248,000.00 232,849.68 0.450 0.444 0.450 08/20/2025 506 15118RRH2 2063 NCD Celtic Bank 08/30/2019 245,000.00 245,000.00 241,464.65 1.850 1.826 1.852 08/30/2024 151 15523RCP9 2324 NCD Central State Bank IOWA 03/27/2020 248,509.09 249,000.00 239,104.74 1.000 1.189 1.206 03/27/2025 360 15643VAA0 2903 NCD Centris Fed Credit Union Bank 05/24/2023 249,000.00 249,000.00 248,870.52 5.150 5.079 5.150 11/25/2024 238 15783QAE3 3009 NCD Chambers State Bank 03/12/2024 249,000.00 249,000.00 247,877.01 5.050 4.984 5.053 03/12/2029 1,806 12545JBB0 2904 NCD CIBM Bank 05/17/2023 249,000.00 249,000.00 249,224.10 5.000 4.937 5.006 05/17/2028 1,507 17248MAC1 2504 NCD Cinfed Fed Credtit Union Bank 03/04/2021 248,636.22 249,000.00 221,749.44 0.650 0.691 0.701 03/04/2027 1,067 17286TAG0 2267 NCD Citadel Federal Credit Union 02/27/2020 244,910.96 245,000.00 237,400.10 1.650 1.668 1.691 02/27/2025 332 18507MAA9 2881 NCD Clearpath Federal Credit Union 04/26/2023 249,000.00 249,000.00 248,985.06 5.150 5.086 5.157 04/28/2025 392 200339FB0 2856 NCD Comerica Bank Texas 03/30/2023 249,000.00 249,000.00 248,873.01 5.250 5.179 5.251 09/30/2024 182 29278TMR8 2215 NCD Enerbank USA 01/29/2020 245,000.00 245,000.00 238,306.60 1.800 1.779 1.803 01/29/2025 303 20825WAR1 2643 NCD Connexus Credit Union 12/23/2021 248,728.36 249,000.00 227,070.57 1.250 1.273 1.291 12/23/2026 996 201313CB7 3010 NCD Commercial Bank of CAL 03/06/2024 249,000.00 249,000.00 249,079.68 5.000 4.931 5.000 09/08/2025 525 14042TCP0 2089 NCD Capital One Bank USA NA 09/05/2019 245,000.00 245,000.00 241,300.50 1.900 1.873 1.900 09/05/2024 157 14042RQB0 2609 NCD Capital One Bank USA NA 11/17/2021 249,000.00 249,000.00 226,946.07 1.100 1.084 1.100 11/17/2026 960 20416TAW2 2756 NCD Communitywide Fed. Cr. Union 12/21/2022 249,000.00 249,000.00 248,768.43 5.000 4.935 5.004 06/21/2024 81 219873AA4 2974 NCD Corp America Family Cr. Union 02/23/2024 249,000.00 249,000.00 249,221.61 5.250 4.852 4.920 02/21/2025 326 21933PAA0 2860 NCD Corning Federal Credit Union 04/04/2023 249,000.00 249,000.00 248,992.53 5.350 5.281 5.354 04/04/2024 3 22258JAB7 2695 NCD County Schools FCU 09/30/2022 249,000.00 249,000.00 248,332.68 4.400 4.341 4.402 09/27/2027 1,274 13934CBL0 2965 NCD Cape Cod Five Cents Svgs Bank 02/22/2024 249,000.00 249,000.00 248,046.33 5.050 4.980 5.050 02/22/2028 1,422 225645DN7 2296 NCD Crescent Bank & Trust 03/20/2020 248,000.00 248,000.00 238,548.72 1.100 1.085 1.100 03/20/2025 353 227563CF8 2875 NCD Cross River Bank 04/14/2023 249,000.00 249,000.00 248,992.53 5.100 5.033 5.103 04/14/2026 743 14622LAK8 2870 NCD Carter Federal Credit Union 04/25/2023 249,000.00 249,000.00 248,155.89 4.750 4.688 4.753 04/25/2025 389 17669VAW7 3021 NCD Citizens State Bank Mont IA 03/13/2024 249,000.00 249,000.00 247,331.70 5.000 4.934 5.003 03/13/2029 1,807 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 13 1 Packet Pg. 156 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 3 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Negotiable Certificates of Deposits 15568PAV8 2945 NCD Cental Valley Community Bank 01/30/2024 249,000.00 249,000.00 247,301.82 4.900 4.836 4.904 01/29/2027 1,033 222327AD0 2477 NCD Country Club Bank 01/29/2021 248,032.33 249,000.00 209,443.86 1.100 1.154 1.170 01/29/2030 2,129 178180GV1 2809 NCD City National Bank 01/25/2023 249,000.00 249,000.00 247,725.12 4.500 4.438 4.500 01/27/2025 301 236334AD0 2917 NCD Dannemora Fed Credit Union 12/28/2023 249,000.00 249,000.00 250,145.40 5.450 5.381 5.455 12/28/2028 1,732 243594AR9 2690 NCD Decorah Bank Trust Company 09/23/2022 249,000.00 249,000.00 238,616.70 3.700 3.651 3.701 09/23/2027 1,270 24773RCR4 2670 NCD Delta Natl Bank & TR 03/09/2022 249,000.00 249,000.00 231,116.82 2.000 1.975 2.003 02/25/2027 1,060 88340AAA9 2778 NCD The District Fed Cr Union 12/22/2022 249,000.00 249,000.00 248,880.48 5.150 5.079 5.150 12/23/2024 266 27004PBV4 2545 NCD Eaglemark Savings Bank 07/07/2021 248,548.91 249,000.00 228,069.06 0.850 0.919 0.932 07/07/2026 827 27889MAC4 2939 NCD Eclipse Bank, Inc. 02/02/2024 249,000.00 249,000.00 247,929.30 5.000 4.935 5.003 02/02/2027 1,037 28619WAH6 2915 NCD Elements Financial FCU 12/20/2023 249,000.00 249,000.00 249,557.76 5.350 5.282 5.355 12/20/2028 1,724 29367RMN3 2897 NCD Enterprise Bank 05/19/2023 249,000.00 249,000.00 248,178.30 4.250 4.196 4.255 05/19/2028 1,509 30053QAA3 3000 NCD Evolve Federal Cr Union Bank 03/12/2024 249,000.00 249,000.00 248,419.83 5.100 5.033 5.103 03/12/2029 1,806 31034RKY0 3008 NCD Farmer State Bank 03/15/2024 249,000.00 249,000.00 249,261.45 5.100 5.038 5.108 03/15/2027 1,078 308682BM4 2486 NCD Farmers & Merchant State Bank 02/12/2021 248,393.95 249,000.00 212,934.84 1.000 1.037 1.052 02/12/2029 1,778 33847E4E4 2414 NCD Flagstar Bank FSB 09/30/2020 249,000.00 249,000.00 242,994.12 0.400 0.394 0.400 09/30/2024 182 31925YAE2 2877 NCD First Bank of the Lake 04/25/2023 249,000.00 249,000.00 249,074.70 4.900 4.838 4.905 04/25/2028 1,485 31944ACD1 3005 NCD First Capital Bank 03/15/2024 249,000.00 249,000.00 249,126.99 5.150 5.079 5.150 03/16/2026 714 73319FAF6 2285 NCD Poppy Bank 03/18/2020 249,000.00 249,000.00 239,555.43 1.100 1.085 1.100 03/18/2025 351 319477AV7 2907 NCD First -Citizens Bank 05/19/2023 249,000.00 249,000.00 248,950.20 5.150 5.079 5.150 05/19/2025 413 32022RNT0 2390 NCD 1st Financial Bank 08/19/2020 248,000.00 248,000.00 232,876.96 0.450 0.444 0.450 08/19/2025 505 320165JK0 2076 NCD First Farmers Bank & Trust 09/04/2019 245,000.00 245,000.00 241,234.35 1.750 1.727 1.751 09/04/2024 156 32022WCZ7 2954 NCD First Federal Bank 02/02/2024 249,000.00 249,000.00 247,964.16 5.000 4.935 5.004 02/02/2027 1,037 30960QAK3 2479 NCD Farmers Insurance Group CU 01/27/2021 248,772.95 249,000.00 229,909.17 0.500 0.543 0.550 01/27/2026 666 31976UAA6 2759 NCD First Class Community CU 12/16/2022 249,000.00 249,000.00 248,656.38 5.050 4.985 5.054 12/16/2024 259 33651FAL3 2940 NCD First Source Federal Cr Union 01/29/2024 249,000.00 249,000.00 248,706.18 5.050 4.980 5.050 01/29/2025 303 335857CK2 2451 NCD First Oklahoma Bank 11/30/2020 248,668.27 249,000.00 223,733.97 0.650 0.691 0.701 11/30/2026 973 307811DM8 2644 NCD Farmers &Merchants Bank 01/14/2022 248,278.66 249,000.00 215,920.35 1.600 1.630 1.653 01/22/2030 2,122 32110YRQ0 2465 NCD First National Bank of America 12/31/2020 248,771.80 249,000.00 222,755.40 0.600 0.625 0.633 12/31/2026 1,004 35638CAE9 2868 NCD Freedom First Fed CU Bank 04/14/2023 249,000.00 249,000.00 248,392.44 4.850 4.783 4.850 10/15/2024 197 32026UG83 2861 NCD First Foundation Bank 03/31/2023 249,000.00 249,000.00 248,604.09 5.000 4.931 5.000 12/30/2024 273 300498AV4 2951 NCD Evolve Bank & Trust 02/02/2024 249,000.00 249,000.00 247,070.25 4.400 4.339 4.400 02/02/2026 672 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 14 1 Packet Pg. 157 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 4 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Negotiable Certificates of Deposits 33715LET3 2845 NCD First Technology Federal Credi 03/24/2023 249,000.00 249,000.00 249,022.41 5.350 5.300 5.374 09/24/2024 176 31986JAD3 2554 NCD First Community Credit Union 07/28/2021 248,611.30 249,000.00 223,305.69 0.850 0.892 0.905 02/26/2027 1,061 33766LAJ7 2061 NCD Firstier Bank 08/23/2019 245,000.00 245,000.00 241,682.70 1.950 1.925 1.952 08/23/2024 144 33743UAB2 2961 NCD FTSB Wheatland Bank 02/09/2024 249,000.00 249,000.00 250,237.53 4.900 4.837 4.904 02/09/2029 1,775 369674CS3 2989 NCD General Electric Credit Union 02/28/2024 249,000.00 249,000.00 248,691.24 4.600 4.537 4.600 03/01/2027 1,064 37424PAC8 2456 NCD Gesa Credit Union 11/30/2020 248,674.14 249,000.00 218,385.45 0.800 0.825 0.836 11/30/2027 1,338 387625AA4 2042 NCD Grant County Bank West V. 05/08/2019 245,000.00 245,000.00 244,223.35 2.550 2.513 2.548 05/08/2024 37 397129AJ6 2725 NCD Greenwood Credit Union 11/28/2022 249,000.00 249,000.00 248,850.60 4.950 4.877 4.945 05/28/2024 57 404730DA8 2447 NCD Haddon Savings Bank 11/16/2020 206,412.83 207,000.00 192,853.62 0.350 0.491 0.498 10/20/2025 567 06251A2Q2 2457 NCD Bank Hapoalim BM 12/14/2020 248,787.73 249,000.00 231,109.35 0.500 0.543 0.550 12/15/2025 623 446438SBO 2891 NCD Huntington National Bank 05/05/2023 249,000.00 249,000.00 248,245.53 4.800 4.734 4.800 05/05/2025 399 42228LAM3 2816 NCD Healthcare Systems FCU 01/30/2023 249,000.00 249,000.00 246,268.47 4.250 4.193 4.251 02/01/2027 1,036 45383KTM9 3018 NCD Indep Bank - Grand Rapids MI 03/15/2024 249,000.00 249,000.00 249,139.44 5.000 4.931 5.000 03/16/2026 714 44931EAD3 2743 NCD IC Federal Credit Union 12/09/2022 249,000.00 249,000.00 248,838.15 5.000 4.931 5.000 06/10/2024 70 45776NFE1 2757 NCD INS Bank 12/14/2022 249,000.00 249,000.00 249,022.41 4.900 4.835 4.902 12/14/2027 1,352 45791JAC0 2836 NCD Insight Credit Union 02/27/2023 249,000.00 249,000.00 248,930.28 5.100 5.036 5.105 02/27/2025 332 46117YAC2 2995 NCD Intracoastal Bank 03/06/2024 249,000.00 249,000.00 247,242.06 5.000 4.931 5.000 03/06/2029 1,800 46355PDX3 3022 NCD Iroquois Federal Sav Loan Asso 03/19/2024 249,000.00 249,000.00 249,849.09 5.100 5.031 5.101 03/20/2028 1,449 88709RBB4 3020 NCD Timberland Bank Hoquaim 03/28/2024 249,000.00 249,000.00 248,454.69 5.100 5.033 5.103 03/28/2029 1,822 45780PAQ8 2556 NCD Inst. for Sav in Newburyport 07/29/2021 249,000.00 249,000.00 227,747.85 0.900 0.888 0.900 07/29/2026 849 48040PJLO 2452 NCD Jonesboro State Bank 11/27/2020 248,544.98 249,000.00 218,001.99 0.750 0.790 0.801 11/26/2027 1,334 50116CAX7 1798 NCD Kansas State Bank Manhattan 05/31/2017 245,000.00 245,000.00 243,804.40 2.500 2.465 2.500 05/31/2024 60 48836LAV4 2731 NCD Kembra Financial Credit Union 11/23/2022 249,000.00 249,000.00 248,838.15 5.150 5.083 5.154 11/25/2024 238 49306SK54 2885 NCD Key Bank 04/28/2023 249,000.00 249,000.00 248,877.99 5.000 4.931 5.000 05/01/2024 30 49332PAC4 2914 NCD Keypoint Credit Union Bank 12/29/2023 249,000.00 249,000.00 249,251.49 5.400 5.399 5.474 12/27/2024 270 920133AJ4 2748 NCD Valley Strong Credit Union 12/14/2022 249,000.00 249,000.00 248,775.90 5.100 5.038 5.108 12/13/2024 256 50625LBG7 2879 NCD Lafayette Federal Credit Union 04/14/2023 243,831.69 249,000.00 243,517.02 3.100 4.931 5.000 05/27/2025 421 523343AA9 2918 NCD Ledyark National Bank 12/29/2023 249,000.00 249,000.00 255,533.76 4.050 3.994 4.050 12/29/2028 1,733 52470QAN4 2469 NCD Legacy Bank & Trust Company 12/30/2020 248,410.20 249,000.00 212,215.23 0.850 0.889 0.901 12/21/2028 1,725 530520AC9 2803 NCD Liberty First Credit Union 01/27/2023 249,000.00 249,000.00 247,341.66 4.500 4.442 4.503 01/27/2026 666 531194AJ7 2979 NCD Liberty Savings Bank 02/21/2024 249,000.00 249,000.00 250,172.79 4.850 4.788 4.855 02/21/2029 1,787 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 15 1 Packet Pg. 158 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 5 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Negotiable Certificates of Deposits 538036SS4 2599 NCD Live Oak Banking Company 10/18/2021 248,558.48 249,000.00 221,460.60 1.100 1.135 1.151 10/18/2027 1,295 554479EK7 2819 NCD Machias Savings Bank 02/09/2023 249,000.00 249,000.00 248,312.76 4.600 4.532 4.595 08/09/2024 130 56102AAQ9 2402 NCD Malaga Bank FSB 08/31/2020 249,000.00 249,000.00 235,003.71 0.400 0.394 0.400 06/30/2025 455 59001 PAP4 2672 NCD Meritrust Federal Credit Union 03/07/2022 242,587.74 249,000.00 230,688.54 0.550 1.904 1.930 03/10/2026 708 589227AG2 2059 NCD Merchants State Bank 08/30/2019 245,000.00 245,000.00 241,378.90 1.800 1.775 1.800 08/30/2024 151 59013KPS9 2610 NCD Merrick Bank 11/19/2021 248,646.06 249,000.00 230,205.48 1.100 1.152 1.168 05/19/2026 778 591803CJ8 2986 NCD Metropolitan Capital Bank 02/26/2024 249,000.00 249,000.00 248,148.42 5.050 4.980 5.050 02/28/2028 1,428 59319LAS4 2960 NCD Ml Bank 02/01/2024 249,000.00 249,000.00 245,939.79 4.750 4.684 4.749 08/02/2027 1,218 60425SJQ3 2478 NCD Minwest Bank MV 01/28/2021 248,549.19 249,000.00 213,188.82 1.000 1.024 1.039 01/29/2029 1,764 560507AN5 2144 NCD Maine Savings Credit Union 11/08/2019 245,000.00 245,000.00 240,041.20 1.900 1.875 1.902 11/08/2024 221 56065GAG3 2038 NCD Mainstreet Bank 04/26/2019 245,000.00 245,000.00 244,458.55 2.600 2.567 2.602 04/26/2024 25 62384RAR7 2719 NCD Mountain America FD Credit Uni 11/09/2022 248,889.97 249,000.00 248,429.79 4.850 4.825 4.892 05/09/2025 403 56511 PBE7 3006 NCD Maple City Savings Bank 03/08/2024 249,000.00 249,000.00 248,160.87 5.050 4.980 5.050 03/08/2027 1,071 61690UY20 2815 NCD Morgan Stanley Bank NA 02/02/2023 249,000.00 249,000.00 246,201.24 4.250 4.191 4.250 02/02/2026 672 61768EQV8 2849 NCD Morgan Stanley Bank NA 03/23/2023 249,000.00 249,000.00 249,286.35 5.250 5.178 5.250 03/24/2025 357 625925AP7 1800 NCD Municipal Trust and Savings 05/22/2017 245,000.00 245,000.00 244,289.50 2.350 2.317 2.349 05/02/2024 31 62835RCA7 2955 NCD Mutual Savings Assoc Bank 01/31/2024 249,000.00 249,000.00 246,328.23 4.900 4.837 4.904 01/31/2029 1,766 63008MAW1 2896 NCD Nano Banc 05/17/2023 249,000.00 249,000.00 249,044.82 4.900 4.838 4.905 05/17/2028 1,507 642858AA2 2760 NCD New Brunswick Postal FCU 12/14/2022 249,000.00 249,000.00 249,014.94 5.000 4.931 5.000 12/15/2025 623 89846HCR2 2966 NCD Truxton Trust Co Bank 02/23/2024 249,000.00 249,000.00 247,349.13 5.000 4.936 5.004 02/23/2029 1,789 23204HNL8 2848 NCD Customers Bank 03/22/2023 249,000.00 249,000.00 248,995.02 5.300 5.227 5.300 09/23/2024 175 654062LK2 2906 NCD Nicolet National Bank 05/30/2023 249,000.00 249,000.00 248,917.83 5.150 5.082 5.153 12/02/2024 245 64017ABE3 2924 NCD Neighbors Fed Credit Union Bk 01/19/2024 249,000.00 249,000.00 247,304.31 5.300 5.232 5.305 01/19/2029 1,754 65504UAB3 2971 NCD Noble Federal Credit Union Bk 02/23/2024 249,000.00 249,000.00 248,982.57 5.200 5.133 5.204 02/23/2029 1,789 67117NAA6 2905 NCD Oahu Fed Credit Union Bank 05/16/2023 249,000.00 249,000.00 248,860.56 5.150 5.082 5.153 11/18/2024 231 671082CN3 2938 NCD Oak Bank 01/19/2024 249,000.00 249,000.00 249,067.23 4.800 4.738 4.804 01/19/2027 1,023 67886WAD9 2751 NCD Oklahomas Credit Union 12/14/2022 249,000.00 249,000.00 248,606.58 5.000 4.938 5.006 12/16/2024 259 69506YSA8 2420 NCD Pacific Western Bank 09/30/2020 249,000.00 249,000.00 232,902.15 0.450 0.443 0.450 09/30/2025 547 70320KAR2 2429 NCD Pathfinder Bank 10/13/2020 248,847.08 249,000.00 232,531.14 0.500 0.533 0.540 10/14/2025 561 710253AU9 2937 NCD Peoples Bank - Clive IA 01/22/2024 249,000.00 249,000.00 248,775.90 4.850 4.783 4.850 01/22/2026 661 710247AS6 3016 NCD Peoples Bank Clifton TN 03/15/2024 249,000.00 249,000.00 250,628.46 5.000 4.934 5.003 03/15/2029 1,809 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 16 1 Packet Pg. 159 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 6 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Negotiable Certificates of Deposits 710665GD6 2468 NCD People's Bank 12/30/2020 247,886.77 249,000.00 207,227.76 0.900 0.967 0.981 12/31/2029 2,100 732329BD8 2686 NCD Ponce De Leon Federal Bank 09/15/2022 249,000.00 249,000.00 241,039.47 3.500 3.453 3.501 09/15/2027 1,262 70962LAE2 2565 NCD Pentagon Fed Cred Union 09/01/2021 248,698.98 249,000.00 226,769.28 0.850 0.889 0.901 09/01/2026 883 740367HP5 2047 NCD Preferred Bank LA California 08/16/2019 245,000.00 245,000.00 241,883.60 2.000 1.972 2.000 08/16/2024 137 693963AE0 2852 NCD Pacific Alliance Bank 03/27/2023 249,000.00 249,000.00 249,131.97 5.150 5.087 5.157 03/27/2025 360 724468AC7 2873 NCD Pitney Bowes Bank, Inc. 04/14/2023 249,000.00 249,000.00 249,084.66 4.350 4.290 4.350 04/13/2028 1,473 710275AD0 2853 NCD People Bank / Coldwater OH 03/30/2023 249,000.00 249,000.00 250,190.22 4.800 4.735 4.800 03/30/2027 1,093 732770BJ0 2488 NCD Pony Express Bank 02/24/2021 248,020.36 249,000.00 208,091.79 1.000 1.055 1.070 02/25/2030 2,156 74048CAT9 2895 NCD Premier Community Bank 05/12/2023 249,000.00 249,000.00 249,084.66 4.900 4.838 4.905 06/14/2027 1,169 74167LAT4 3015 NCD Prime Security Bank 03/15/2024 249,000.00 249,000.00 248,267.94 5.050 4.981 5.050 03/15/2027 1,078 712303BF2 2863 NCD People's Security Bank & Trust 03/30/2023 249,000.00 249,000.00 249,204.18 5.450 5.375 5.450 03/30/2028 1,459 744562AS8 2796 NCD Public Service Credit Union 01/20/2023 249,000.00 249,000.00 249,022.41 4.750 4.687 4.752 01/20/2028 1,389 75102EAC2 2798 NCD Raiz Federal Credit Union 01/25/2023 249,000.00 249,000.00 248,616.54 4.900 4.828 4.895 07/25/2024 115 76857RCF9 2892 NCD RiverBank 05/12/2023 249,000.00 249,000.00 249,029.88 4.950 4.888 4.955 05/12/2028 1,502 75472RAU5 2188 NCD Rayond James Bank NA 12/30/2019 245,000.00 245,000.00 238,926.45 1.850 1.824 1.850 12/30/2024 273 759701 BW4 2983 NCD Renasant Bank 02/23/2024 249,000.00 249,000.00 247,891.95 5.000 4.931 5.000 02/23/2027 1,058 77535MAC7 2717 NCD Rogue Credit Union 11/09/2022 248,866.53 249,000.00 248,985.06 4.900 4.868 4.935 11/10/2025 588 7954504D4 2102 NCD Sallie Mae Bank 09/18/2019 245,000.00 245,000.00 241,018.75 1.900 1.873 1.900 09/18/2024 170 805508BT4 2710 NCD Sawyer Savings Bank 10/28/2022 248,644.09 249,000.00 249,092.13 4.900 4.877 4.945 10/28/2027 1,305 856285UJ8 2403 NCD State Bank of India 09/04/2020 249,000.00 249,000.00 233,639.19 0.500 0.493 0.500 09/04/2025 521 84229LBV3 2882 NCD Southern Bank 04/28/2023 249,000.00 249,000.00 245,800.35 4.000 3.945 4.000 04/28/2028 1,488 81618LAE7 2857 NCD Select Bank Forest VA 03/31/2023 249,000.00 249,000.00 249,146.91 5.400 5.332 5.406 03/31/2028 1,460 79772FAF3 2297 NCD San Francisco Credit Union 03/27/2020 249,000.00 249,000.00 239,346.27 1.100 1.085 1.100 03/27/2025 360 819866BR4 2718 NCD Sharonview Fed Credit Union 10/31/2022 248,868.68 249,000.00 248,980.08 5.000 4.966 5.035 10/31/2025 578 82671 DAB3 2804 NCD Signature Federal Credit Union 01/31/2023 249,000.00 249,000.00 249,099.60 4.400 4.341 4.401 01/31/2028 1,400 87164DVY3 2886 NCD Synovus Bank 04/28/2023 249,000.00 249,000.00 248,683.77 5.000 4.945 5.013 07/29/2024 119 86804DCQ9 2491 NCD Sunwest Bank 02/17/2021 248,309.79 249,000.00 217,240.05 0.800 0.861 0.873 02/17/2028 1,417 78472EAC8 2827 NCD SPCO Credit Union 02/27/2023 249,000.00 249,000.00 248,875.50 4.350 4.290 4.349 02/28/2028 1,428 33646CNJ9 2754 NCD First Source Bank 12/16/2022 249,000.00 249,000.00 249,271.41 5.050 4.980 5.050 06/16/2028 1,537 843879FP7 3014 NCD Southern States Bank 03/22/2024 249,000.00 249,000.00 248,300.31 5.100 5.031 5.101 09/22/2025 539 84133PFL7 2821 NCD Southeast Bank 02/06/2023 249,000.00 249,000.00 247,692.75 4.550 4.487 4.550 02/06/2025 311 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 17 1 Packet Pg. 160 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 7 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Negotiable Certificates of Deposits 84503PAD2 2890 NCD Southwest Heritage Cr. Union 05/12/2023 249,000.00 249,000.00 248,875.50 5.100 5.031 5.101 05/10/2024 39 87165FZN7 2563 NCD Synchrony Bank 08/20/2021 249,000.00 249,000.00 227,421.66 0.900 0.887 0.900 08/20/2026 871 87868YAH6 2797 NCD Technology Credit Union 01/19/2023 249,000.00 249,000.00 248,980.08 5.100 5.031 5.100 07/21/2025 476 882214AA7 2464 NCD Texas Bank Henderson 12/23/2020 248,827.91 249,000.00 230,447.01 0.450 0.483 0.490 12/23/2025 631 88413QCK2 2157 NCD Third Federal Savings and Loan 11/25/2019 245,000.00 245,000.00 239,813.35 1.950 1.923 1.950 11/25/2024 238 88457PAV9 3007 NCD Thomaston Savings Bank 03/08/2024 249,000.00 249,000.00 248,462.16 5.100 5.030 5.100 09/08/2027 1,255 89235MLC3 2551 NCD Toyota Financial Savings Bank 07/15/2021 249,000.00 249,000.00 228,432.60 0.950 0.936 0.950 07/15/2026 835 90355GLE4 2992 NCD UBS Financial Services, Inc. 02/28/2024 249,000.00 249,000.00 248,716.14 4.600 4.540 4.603 03/01/2027 1,064 902684AB5 2832 NCD Ufirst Federal Credit Union 02/24/2023 249,000.00 249,000.00 248,554.29 4.850 4.787 4.854 08/25/2025 511 91334AAC7 2711 NCD United Heritage Credit Union 10/28/2022 249,000.00 249,000.00 247,762.47 4.600 4.539 4.602 04/28/2025 392 39573LBM9 2552 NCD Greenstate Credit Union 07/21/2021 249,000.00 249,000.00 228,171.15 0.950 0.937 0.950 07/21/2026 841 90352RAU9 2325 NCD USAlliance Federal Credit Unio 03/31/2020 248,950.36 249,000.00 239,525.55 1.150 1.155 1.171 03/31/2025 364 90355UCX1 2998 NCD U.S. Bank 03/06/2024 249,000.00 249,000.00 248,096.13 5.250 5.178 5.250 03/06/2029 1,800 90353EAR4 2546 NCD USF Federal Credit Union 07/15/2021 247,729.98 249,000.00 211,951.29 1.750 1.801 1.826 07/15/2031 2,661 31810PCF4 3013 NCD Finwise Bank 03/22/2024 249,000.00 249,000.00 248,417.34 5.100 5.033 5.103 03/22/2029 1,816 938828BJ8 2049 NCD Washington Federal 08/23/2019 245,000.00 245,000.00 241,780.70 2.050 2.024 2.052 08/23/2024 144 930584AC1 2894 NCD Wahoo State Bank 05/15/2023 249,000.00 249,000.00 248,661.36 5.000 4.950 5.019 08/15/2024 136 95960NKE6 2342 NCD Western State Bank 05/13/2020 248,000.00 248,000.00 233,112.56 1.050 1.035 1.050 11/13/2025 591 949764AF1 2843 NCD Wells Fargo Bank 03/17/2023 249,000.00 249,000.00 249,331.17 5.250 5.185 5.257 03/17/2025 350 98321PAJ9 2446 NCD Wyoming Bank & Trust 11/27/2020 248,876.11 249,000.00 231,398.19 0.500 0.515 0.522 11/28/2025 606 98138MAX8 2749 NCD Workers Fed Credit Union 12/14/2022 249,000.00 249,000.00 249,044.82 5.100 5.032 5.102 12/14/2027 1,352 956310BM7 2855 NCD West Town Bank and Trust 03/28/2023 249,000.00 249,000.00 249,229.08 5.450 5.381 5.456 03/28/2028 1,457 98426AAC1 2929 NCD Y-12 Federal Credit Union Bank 01/29/2024 249,000.00 249,000.00 249,119.52 5.250 5.178 5.250 01/28/2028 1,397 Subtotal and Average 50,399,674.73 50,425,000.00 49,131,701.68 3.542 3.591 855 Corporate Medium Term Bonds 037833CU2 2053 MTN Apple, Inc. 08/06/2019 1,501,259.48 1,500,000.00 1,495,200.00 2.850 1.998 2.025 05/11/2024 40 037833DF4 2401 MTN Apple, Inc. 08/28/2020 1,524,546.35 1,500,000.00 1,471,125.00 2.750 0.620 0.628 01/13/2025 287 037833EB2 2489 MTN Apple, Inc. 02/08/2021 700,074.60 700,000.00 649,418.00 0.700 0.684 0.694 02/08/2026 678 037833CJ7 2667 MTN Apple, Inc. 02/23/2022 773,197.04 750,000.00 724,642.50 3.350 2.115 2.145 02/09/2027 1,044 02079KAHO 2507 MTN Alphabet (Google) Inc. 03/01/2021 199,384.63 200,000.00 188,424.00 0.450 0.668 0.678 08/15/2025 501 02079KAC1 2675 MTN Alphabet (Google) Inc. 03/14/2022 994,825.54 1,000,000.00 941,200.00 1.998 2.197 2.228 08/15/2026 866 Portfolio CPA AP Run Date: 04/29/2024 - 12:45 Fl (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 18 Packet Pg. 161 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 8 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Corporate Medium Term Bonds 02079KAJ6 2689 MTN Alphabet (Google) Inc. 09/14/2022 917,303.77 1,000,000.00 889,080.00 0.800 3.442 3.489 08/15/2027 1,231 02079KAJ6 2837 MTN Alphabet (Google) Inc. 02/15/2023 2,524,392.02 2,800,000.00 2,489,424.00 0.800 3.964 4.020 08/15/2027 1,231 478160CN2 2466 MTN Johnson & Johnson 12/23/2020 2,001,786.60 2,000,000.00 1,881,120.00 0.550 0.479 0.486 09/01/2025 518 478160BY9 2508 MTN Johnson & Johnson 03/01/2021 2,057,972.19 2,000,000.00 1,916,320.00 2.450 0.812 0.823 03/01/2026 699 478160BY9 2509 MTN Johnson & Johnson 03/01/2021 1,028,978.66 1,000,000.00 958,160.00 2.450 0.812 0.824 03/01/2026 699 03444RAB4 2976 MTN Andrew W Mellon Foundation 02/14/2024 892,875.70 1,000,000.00 887,140.00 0.947 4.389 4.450 08/01/2027 1,217 594918BJ2 2450 MTN Microsoft Corporation 11/18/2020 3,030,451.05 2,920,000.00 2,844,109.20 3.125 0.572 0.580 11/03/2025 581 594918BJ2 2506 MTN Microsoft Corporation 03/01/2021 186,273.55 180,000.00 175,321.80 3.125 0.753 0.763 11/03/2025 581 594918889 3004 MTN Microsoft Corporation 03/04/2024 979,987.43 1,000,000.00 979,560.00 2.700 5.030 5.099 02/12/2025 317 85440KAC8 2648 MTN Stanford University 01/07/2022 1,490,403.78 1,500,000.00 1,350,180.00 1.289 1.479 1.500 06/01/2027 1,156 85440KAC8 2658 MTN Stanford University 02/01/2022 491,207.64 500,000.00 450,060.00 1.289 1.849 1.875 06/01/2027 1,156 85440KAC8 2709 MTN Stanford University 10/19/2022 1,388,917.85 1,530,000.00 1,377,183.60 1.289 4.487 4.550 06/01/2027 1,156 85440KAC8 2761 MTN Stanford University 12/12/2022 412,534.22 450,000.00 405,054.00 1.289 4.142 4.200 06/01/2027 1,156 85440KAC8 2969 MTN Stanford University 02/12/2024 908,531.54 1,000,000.00 900,120.00 1.289 4.364 4.424 06/01/2027 1,156 98459LAA1 2376 MTN Yale University 07/01/2020 2,004,972.20 2,000,000.00 1,901,200.00 0.873 0.616 0.625 04/15/2025 379 98459LAA1 2511 MTN Yale University 03/01/2021 3,006,804.58 3,000,000.00 2,851,800.00 0.873 0.638 0.646 04/15/2025 379 Subtotal and Average 29,016,680.42 29,530,000.00 27,725,842.10 1.858 1.884 715 Federal Agency Bonds 31315PEM7 1580 Federal Agricultural Mortgage 04/08/2016 485,496.90 474,000.00 470,449.74 4.350 2.296 2.328 08/04/2025 490 31315P2J7 1595 Federal Agricultural Mortgage 04/21/2016 1,501,358.10 1,500,000.00 1,497,660.00 3.300 2.084 2.112 05/01/2024 30 31315P2J7 1604 Federal Agricultural Mortgage 04/26/2016 1,501,266.24 1,500,000.00 1,497,660.00 3.300 2.159 2.189 05/01/2024 30 31315PRA9 1710 Federal Agricultural Mortgage 10/18/2016 1,565,873.45 1,500,000.00 1,502,400.00 4.810 2.131 2.160 02/03/2026 673 3132X0WL1 1867 Federal Agricultural Mortgage 10/06/2017 999,582.66 1,000,000.00 988,440.00 2.250 2.332 2.365 08/23/2024 144 3130H0AU7 1893 Federal Agricultural Mortgage 01/09/2018 1,000,131.58 1,000,000.00 991,710.00 2.625 2.546 2.581 08/01/2024 122 3130H0AU7 1901 Federal Agricultural Mortgage 01/11/2018 1,499,839.72 1,500,000.00 1,487,565.00 2.625 2.623 2.660 08/01/2024 122 31422BEJ5 2034 Federal Agricultural Mortgage 04/09/2019 999,989.91 1,000,000.00 999,350.00 2.350 2.365 2.398 04/09/2024 8 31315PCY3 2035 Federal Agricultural Mortgage 04/08/2019 689,197.75 678,000.00 678,101.70 5.250 2.420 2.454 11/20/2024 233 31315PEM7 2098 Federal Agricultural Mortgage 09/09/2019 568,657.88 550,000.00 545,880.50 4.350 1.659 1.683 08/04/2025 490 31315PB99 2301 Federal Agricultural Mortgage 03/11/2020 1,666,457.50 1,569,000.00 1,485,168.33 2.850 1.050 1.064 11/19/2027 1,327 31422BZS2 2340 Call Federal Agricultural Mortgage 05/13/2020 2,000,000.00 2,000,000.00 1,670,980.00 1.500 1.479 1.500 05/13/2030 2,233 31422BF54 2366 Call Federal Agricultural Mortgage 06/24/2020 1,750,000.00 1,750,000.00 1,413,580.00 1.400 1.380 1.400 06/24/2030 2,275 Portfolio CPA AP Run Date: 04/29/2024 - 12:45 Fl (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 19 Packet Pg. 162 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 9 CUSIP Investment # Issuer Purchase Date Book Value Par Value Market Value Current Rate YTM 360 YTM 365 Maturity Days To Date Maturity Federal Agency Bonds 31422BF54 2367 Call Federal Agricultural Mortgage 06/24/2020 2,000,000.00 2,000,000.00 1,615,520.00 1.400 1.380 1.400 06/24/2030 2,275 31422BH78 2381 Call Federal Agricultural Mortgage 07/08/2020 1,500,000.00 1,500,000.00 1,242,105.00 1.400 1.380 1.400 07/08/2030 2,289 31422BX54 2425 Call Federal Agricultural Mortgage 10/08/2020 2,000,000.00 2,000,000.00 1,635,200.00 1.300 1.286 1.304 09/27/2030 2,370 31422BZ45 2435 Call Federal Agricultural Mortgage 10/21/2020 2,000,000.00 2,000,000.00 1,629,500.00 1.280 1.262 1.280 10/21/2030 2,394 31422B2E9 2439 Call Federal Agricultural Mortgage 10/29/2020 2,000,000.00 2,000,000.00 1,635,240.00 1.340 1.321 1.340 10/29/2030 2,402 31422B3D0 2449 Federal Agricultural Mortgage 11/20/2020 1,500,000.00 1,500,000.00 1,221,765.00 1.150 1.134 1.150 11/20/2030 2,424 31422B4A5 2458 Call Federal Agricultural Mortgage 12/11/2020 1,500,000.00 1,500,000.00 1,217,685.00 1.300 1.282 1.300 12/11/2030 2,445 31422B3W8 2459 Call Federal Agricultural Mortgage 12/16/2020 2,000,000.00 2,000,000.00 1,640,000.00 1.450 1.430 1.450 12/16/2030 2,450 31422B3D0 2461 Federal Agricultural Mortgage 12/09/2020 999,332.87 1,000,000.00 814,510.00 1.150 1.144 1.160 11/20/2030 2,424 31422B6K1 2471 Federal Agricultural Mortgage 01/15/2021 1,499,463.33 1,500,000.00 1,390,860.00 0.480 0.493 0.500 01/15/2026 654 31422B6A3 2473 Call Federal Agricultural Mortgage 01/15/2021 1,495,417.50 1,500,000.00 1,206,465.00 1.290 1.319 1.338 01/15/2031 2,480 31422B7E4 2484 Call Federal Agricultural Mortgage 01/28/2021 1,000,000.00 1,000,000.00 805,210.00 1.320 1.301 1.320 01/28/2031 2,493 31422XAW2 2496 Call Federal Agricultural Mortgage 02/25/2021 1,500,000.00 1,500,000.00 1,214,925.00 1.530 1.509 1.530 02/25/2031 2,521 31422XCB6 2513 Federal Agricultural Mortgage 03/04/2021 991,523.80 1,000,000.00 825,280.00 1.470 1.581 1.602 03/04/2031 2,528 31422XDX7 2519 Federal Agricultural Mortgage 03/29/2021 1,499,701.33 1,500,000.00 1,390,470.00 0.830 0.828 0.840 03/27/2026 725 31422XDX7 2524 Federal Agricultural Mortgage 03/31/2021 1,497,189.42 1,500,000.00 1,390,470.00 0.830 0.913 0.926 03/27/2026 725 31422XEE8 2527 Call Federal Agricultural Mortgage 04/07/2021 1,497,067.50 1,500,000.00 1,259,430.00 2.070 2.074 2.103 04/07/2031 2,562 31422XEL2 2529 Federal Agricultural Mortgage 04/15/2021 2,003,448.36 2,000,000.00 1,781,460.00 1.375 1.311 1.330 04/13/2028 1,473 31422XFJ6 2530 Federal Agricultural Mortgage 04/29/2021 1,500,955.50 1,500,000.00 1,250,310.00 1.660 1.627 1.650 04/29/2031 2,584 31422XDX7 2533 Federal Agricultural Mortgage 05/20/2021 1,498,657.96 1,500,000.00 1,390,470.00 0.830 0.864 0.876 03/27/2026 725 31422XDX7 2540 Federal Agricultural Mortgage 06/08/2021 254,991.34 255,000.00 236,379.90 0.830 0.820 0.831 03/27/2026 725 31422XNM0 2593 Federal Agricultural Mortgage 10/05/2021 1,000,000.00 1,000,000.00 916,820.00 1.050 1.035 1.050 10/05/2026 917 31422XPS5 2621 Federal Agricultural Mortgage 11/17/2021 996,436.73 1,000,000.00 915,320.00 1.150 1.272 1.290 11/17/2026 960 31422XQM7 2625 Federal Agricultural Mortgage 12/01/2021 1,000,000.00 1,000,000.00 918,630.00 1.320 1.301 1.320 12/01/2026 974 31422XRK0 2634 Federal Agricultural Mortgage 01/04/2022 1,500,000.00 1,500,000.00 1,378,380.00 1.320 1.301 1.320 01/04/2027 1,008 31422XRY0 2640 Call Federal Agricultural Mortgage 12/29/2021 1,500,000.00 1,500,000.00 1,253,835.00 2.150 2.120 2.150 12/29/2031 2,828 3133EC7D0 1615 Federal Farm Credit Bank . 05/13/2016 1,001,078.14 1,000,000.00 979,460.00 2.125 1.930 1.956 12/13/2024 256 3133EDWX6 1822 Federal Farm Credit Bank. 06/21/2017 501,751.28 500,000.00 494,430.00 2.910 2.143 2.172 10/07/2024 189 3133EAG44 2314 Federal Farm Credit Bank. 03/13/2020 1,034,353.60 1,000,000.00 956,880.00 2.630 1.089 1.104 08/03/2026 854 3133ELQ31 2371 Call Federal Farm Credit Bank. 07/01/2020 1,500,000.00 1,500,000.00 1,233,885.00 1.330 1.311 1.330 07/01/2030 2,282 3133ELQ31 2372 Call Federal Farm Credit Bank. 07/01/2020 1,500,000.00 1,500,000.00 1,233,885.00 1.330 1.311 1.330 07/01/2030 2,282 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 20 1 Packet Pg. 163 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 10 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Federal Agency Bonds 3133EL3H5 2391 Call Federal Farm Credit Bank. 08/12/2020 1,499,488.54 1,500,000.00 1,415,355.00 0.570 0.587 0.595 08/12/2025 498 3133EL4W1 2406 Call Federal Farm Credit Bank. 09/03/2020 1,499,789.06 1,500,000.00 1,412,160.00 0.610 0.611 0.620 08/25/2025 511 3133EL4W1 2408 Call Federal Farm Credit Bank . 09/10/2020 1,499,788.24 1,500,000.00 1,412,160.00 0.610 0.611 0.620 08/25/2025 511 3133EL7K4 2416 Call Federal Farm Credit Bank. 09/22/2020 1,500,000.00 1,500,000.00 1,409,325.00 0.550 0.542 0.549 09/16/2025 533 3133EMBH4 2417 Call Federal Farm Credit Bank. 09/29/2020 1,500,000.00 1,500,000.00 1,405,380.00 0.530 0.522 0.530 09/29/2025 546 3133EMBJ0 2423 Call Federal Farm Credit Bank. 09/29/2020 1,499,663.75 1,500,000.00 1,406,775.00 0.530 0.537 0.545 09/29/2025 546 3133EMAZ5 2427 Call Federal Farm Credit Bank. 10/01/2020 1,998,399.23 2,000,000.00 1,629,180.00 1.250 1.246 1.263 06/24/2030 2,275 3133EMFG2 2442 Call Federal Farm Credit Bank. 11/04/2020 1,500,000.00 1,500,000.00 1,228,515.00 1.370 1.351 1.370 11/04/2030 2,408 3133EMFG2 2443 Call Federal Farm Credit Bank. 11/04/2020 1,500,000.00 1,500,000.00 1,228,515.00 1.370 1.351 1.370 11/04/2030 2,408 3133EMNB4 2472 Call Federal Farm Credit Bank . 01/14/2021 1,500,000.00 1,500,000.00 1,223,775.00 1.380 1.361 1.380 01/14/2031 2,479 3133EMRE4 2525 Call Federal Farm Credit Bank . 04/01/2021 1,458,687.65 1,500,000.00 1,214,685.00 1.420 1.834 1.859 02/18/2031 2,514 3133EMUG5 2538 Call Federal Farm Credit Bank. 05/27/2021 1,004,184.78 1,000,000.00 834,910.00 1.980 1.887 1.913 03/24/2031 2,548 3133EN5S5 2789 Call Federal Farm Credit Bank. 01/10/2023 1,500,000.00 1,500,000.00 1,494,540.00 5.900 5.819 5.900 01/10/2033 3,206 3133EPFB6 2865 Call Federal Farm Credit Bank. 04/12/2023 1,000,000.00 1,000,000.00 997,950.00 5.840 5.760 5.840 04/12/2032 2,933 3133EPFB6 2880 Call Federal Farm Credit Bank. 04/14/2023 1,000,000.00 1,000,000.00 997,950.00 5.840 5.759 5.839 04/12/2032 2,933 3133EPHA6 2884 Call Federal Farm Credit Bank. 04/28/2023 1,000,000.00 1,000,000.00 999,140.00 5.800 5.720 5.800 04/28/2031 2,583 3133EPHA6 2887 Call Federal Farm Credit Bank. 04/28/2023 1,000,000.00 1,000,000.00 999,140.00 5.800 5.720 5.800 04/28/2031 2,583 3133EPHJ7 2888 Call Federal Farm Credit Bank. 04/28/2023 2,000,000.00 2,000,000.00 2,000,040.00 6.080 5.996 6.080 04/28/2033 3,314 3133EPX75 2935 Call Federal Farm Credit Bank . 01/24/2024 1,000,000.00 1,000,000.00 998,170.00 5.850 5.769 5.850 01/24/2033 3,220 3130AJMF3 2347 Call Federal Home Loan Bank 05/28/2020 1,500,000.00 1,500,000.00 1,301,865.00 1.320 1.301 1.320 11/28/2028 1,702 3130AJP78 2358 Call Federal Home Loan Bank 06/11/2020 1,000,000.00 1,000,000.00 854,230.00 1.400 1.380 1.400 06/11/2029 1,897 3130AJP78 2361 Call Federal Home Loan Bank 06/11/2020 997,691.36 1,000,000.00 854,230.00 1.400 1.427 1.447 06/11/2029 1,897 3130AJR76 2368 Call Federal Home Loan Bank 06/29/2020 900,000.00 900,000.00 761,472.00 1.250 1.232 1.250 06/29/2029 1,915 3130AJRG6 2369 Call Federal Home Loan Bank 06/24/2020 1,500,000.00 1,500,000.00 1,237,410.00 1.360 1.341 1.360 06/24/2030 2,275 3130AJSR1 2375 Call Federal Home Loan Bank 07/09/2020 1,500,000.00 1,500,000.00 1,238,370.00 1.390 1.370 1.390 07/09/2030 2,290 3130AJSR1 2377 Call Federal Home Loan Bank 07/09/2020 1,500,000.00 1,500,000.00 1,238,370.00 1.390 1.370 1.390 07/09/2030 2,290 3130AJSR1 2384 Call Federal Home Loan Bank 07/09/2020 1,498,965.08 1,500,000.00 1,238,370.00 1.390 1.382 1.401 07/09/2030 2,290 3130AJZ36 2395 Call Federal Home Loan Bank 08/27/2020 1,499,578.33 1,500,000.00 1,411,860.00 0.600 0.611 0.620 08/27/2025 513 3130AJZ36 2399 Call Federal Home Loan Bank 08/27/2020 1,499,578.33 1,500,000.00 1,411,860.00 0.600 0.611 0.620 08/27/2025 513 3130AK3Z7 2405 Call Federal Home Loan Bank 09/29/2020 1,499,551.67 1,500,000.00 1,406,205.00 0.570 0.582 0.590 09/29/2025 546 3130AJZ36 2411 Call Federal Home Loan Bank 09/16/2020 1,180,000.00 1,180,000.00 1,110,663.20 0.600 0.591 0.599 08/27/2025 513 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP Fl (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 21 1 Packet Pg. 164 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 11 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Federal Agency Bonds 313OAKAZ91 2419 Federal Home Loan Bank 09/29/2020 1,500,000.00 1,500,000.00 1,405,125.00 0.520 0.512 0.520 09/29/2025 546 3130AJQS1 2445 Call Federal Home Loan Bank 11/04/2020 1,199,751.74 1,200,000.00 989,208.00 1.350 1.334 1.353 06/25/2030 2,276 3130AKQN9 2475 Call Federal Home Loan Bank 01/28/2021 1,500,000.00 1,500,000.00 1,217,145.00 1.400 1.380 1.400 01/09/2031 2,474 313OAKQV1 2476 Call Federal Home Loan Bank 01/28/2021 1,500,000.00 1,500,000.00 1,215,315.00 1.400 1.380 1.400 01/28/2031 2,493 3130AKVH6 2485 Call Federal Home Loan Bank 02/10/2021 1,500,000.00 1,500,000.00 1,209,810.00 1.350 1.331 1.350 02/10/2031 2,506 3130AKYB6 2490 Call Federal Home Loan Bank 02/18/2021 2,000,000.00 2,000,000.00 1,617,880.00 1.400 1.380 1.400 02/18/2031 2,514 3130AL2J2 2494 Call Federal Home Loan Bank 02/26/2021 1,500,000.00 1,500,000.00 1,221,420.00 1.500 1.479 1.500 02/26/2031 2,522 3130ALF66 2500 Call Federal Home Loan Bank 02/25/2021 1,500,000.00 1,500,000.00 1,232,475.00 1.625 1.602 1.625 02/25/2031 2,521 3130ALF33 2520 Call Federal Home Loan Bank 03/25/2021 1,920,756.62 1,925,000.00 1,780,278.50 0.750 0.853 0.865 03/16/2026 714 3130APPJ8 2607 Call Federal Home Loan Bank 11/04/2021 1,000,000.00 1,000,000.00 825,670.00 2.000 1.972 2.000 11/04/2031 2,773 3130APV77 2613 Call Federal Home Loan Bank 12/10/2021 1,000,000.00 1,000,000.00 921,940.00 1.500 1.479 1.500 12/10/2026 983 3130APW84 2616 Call Federal Home Loan Bank 12/03/2021 1,000,000.00 1,000,000.00 923,040.00 1.500 1.479 1.500 12/03/2026 976 3130APXD2 2618 Call Federal Home Loan Bank 12/17/2021 1,000,000.00 1,000,000.00 923,270.00 1.550 1.528 1.550 12/17/2026 990 3130APWY7 2619 Call Federal Home Loan Bank 12/07/2021 1,000,000.00 1,000,000.00 918,980.00 1.350 1.331 1.350 12/07/2026 980 3130APXT7 2620 Call Federal Home Loan Bank 12/17/2021 1,000,000.00 1,000,000.00 924,530.00 1.600 1.578 1.600 12/17/2026 990 3130AQSM6 2659 Call Federal Home Loan Bank 02/25/2022 1,000,000.00 1,000,000.00 931,990.00 2.050 2.021 2.050 02/25/2027 1,060 3130AQX65 2662 Call Federal Home Loan Bank 03/04/2022 1,000,000.00 1,000,000.00 932,700.00 2.250 2.219 2.250 03/04/2027 1,067 313OAQYA5 2663 Call Federal Home Loan Bank 02/28/2022 1,000,000.00 1,000,000.00 937,450.00 2.250 2.219 2.250 02/24/2027 1,059 3130AQYG2 2664 Call Federal Home Loan Bank 02/28/2022 1,500,000.00 1,500,000.00 1,414,605.00 2.500 2.470 2.504 02/25/2027 1,060 313OAQZD8 2665 Call Federal Home Loan Bank 02/25/2022 1,000,000.00 1,000,000.00 946,820.00 2.625 2.589 2.625 02/25/2027 1,060 3130AUJJ4 2794 Call Federal Home Loan Bank 01/30/2023 1,094,594.59 1,094,594.59 1,089,581.35 5.555 5.479 5.555 01/27/2028 1,396 3130AULM4 2802 Call Federal Home Loan Bank 01/26/2023 1,500,000.00 1,500,000.00 1,492,170.00 5.620 5.543 5.620 01/26/2033 3,222 3130AVYF3 2902 Call Federal Home Loan Bank 05/24/2023 1,000,000.00 1,000,000.00 998,080.00 6.000 5.917 6.000 05/24/2033 3,340 3130AYV45 2963 Call Federal Home Loan Bank 02/21/2024 1,500,000.00 1,500,000.00 1,495,545.00 6.000 5.918 6.000 02/14/2034 3,606 3130AYWY8 2970 Call Federal Home Loan Bank 02/09/2024 1,000,000.00 1,000,000.00 998,490.00 6.000 5.917 6.000 02/09/2034 3,601 3130AYYH3 2980 Call Federal Home Loan Bank 02/15/2024 1,000,000.00 1,000,000.00 999,380.00 6.000 5.917 6.000 02/15/2034 3,607 3130ATS57 2988 Federal Home Loan Bank 02/21/2024 614,746.21 610,000.00 612,610.80 4.500 4.223 4.282 03/10/2028 1,439 3130B0DM8 3017 Call Federal Home Loan Bank 03/13/2024 1,500,000.00 1,500,000.00 1,499,295.00 6.000 5.917 6.000 03/13/2034 3,633 3134GVUA4 2345 Call Fed. Home Loan Mortgage Corp. 05/18/2020 455,000.00 455,000.00 398,766.55 1.200 1.183 1.200 05/18/2028 1,508 3134GV3B2 2370 Call Fed. Home Loan Mortgage Corp. 06/30/2020 1,500,000.00 1,500,000.00 1,232,760.00 1.400 1.380 1.400 06/28/2030 2,279 3134GV3U0 2373 Call Fed. Home Loan Mortgage Corp. 06/29/2020 1,500,000.00 1,500,000.00 1,268,925.00 1.250 1.232 1.250 06/29/2029 1,915 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 22 1 Packet Pg. 165 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 12 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Federal Agency Bonds 3134GV4E5 2379 Call Fed. Home Loan Mortgage Corp. 07/01/2020 1,500,000.00 1,500,000.00 1,288,080.00 1.200 1.183 1.199 12/29/2028 1,733 3134GV5D6 2380 Call Fed. Home Loan Mortgage Corp. 07/08/2020 1,500,000.00 1,500,000.00 1,281,405.00 1.200 1.183 1.200 01/08/2029 1,743 3134GV5A2 2382 Call Fed. Home Loan Mortgage Corp. 07/15/2020 1,500,000.00 1,500,000.00 1,229,010.00 1.375 1.356 1.375 07/15/2030 2,296 3134GV7L6 2386 Call Fed. Home Loan Mortgage Corp. 07/29/2020 1,500,000.00 1,500,000.00 1,225,560.00 1.350 1.331 1.350 07/29/2030 2,310 3134GV7L6 2387 Call Fed. Home Loan Mortgage Corp. 07/29/2020 1,500,000.00 1,500,000.00 1,225,560.00 1.350 1.331 1.350 07/29/2030 2,310 3134GWNC6 2396 Call Fed. Home Loan Mortgage Corp. 08/20/2020 1,000,000.00 1,000,000.00 943,340.00 0.625 0.616 0.625 08/19/2025 505 3134GWC53 2400 Call Fed. Home Loan Mortgage Corp. 09/15/2020 1,500,000.00 1,500,000.00 1,410,075.00 0.650 0.641 0.650 09/15/2025 532 3134GWA55 2404 Call Fed. Home Loan Mortgage Corp. 09/09/2020 1,447,000.00 1,447,000.00 1,361,048.20 0.650 0.641 0.650 09/09/2025 526 3134GWD52 2407 Call Fed. Home Loan Mortgage Corp. 09/04/2020 1,500,000.00 1,500,000.00 1,412,670.00 0.680 0.670 0.679 09/02/2025 519 3134GWP75 2409 Call Fed. Home Loan Mortgage Corp. 09/23/2020 1,500,000.00 1,500,000.00 1,409,295.00 0.625 0.616 0.625 09/23/2025 540 3134GWP75 2410 Call Fed. Home Loan Mortgage Corp. 09/23/2020 1,000,000.00 1,000,000.00 939,530.00 0.625 0.616 0.625 09/23/2025 540 3134GWVV5 2418 Fed. Home Loan Mortgage Corp. 10/15/2020 1,500,000.00 1,500,000.00 1,403,550.00 0.500 0.493 0.500 10/15/2025 562 3134GWW93 2421 Call Fed. Home Loan Mortgage Corp. 09/30/2020 2,000,000.00 2,000,000.00 1,875,360.00 0.550 0.542 0.550 09/30/2025 547 3134GWW93 2422 Call Fed. Home Loan Mortgage Corp. 09/30/2020 1,500,000.00 1,500,000.00 1,406,520.00 0.550 0.542 0.550 09/30/2025 547 3134GWXK7 2424 Call Fed. Home Loan Mortgage Corp. 09/30/2020 1,500,000.00 1,500,000.00 1,406,520.00 0.550 0.542 0.550 09/30/2025 547 3134GWXX9 2426 Call Fed. Home Loan Mortgage Corp. 10/15/2020 1,500,000.00 1,500,000.00 1,404,135.00 0.550 0.542 0.550 10/15/2025 562 3134GWY26 2428 Call Fed. Home Loan Mortgage Corp. 10/08/2020 1,500,000.00 1,500,000.00 1,404,075.00 0.570 0.562 0.570 10/08/2025 555 3134GWYZ3 2430 Call Fed. Home Loan Mortgage Corp. 10/28/2020 1,500,000.00 1,500,000.00 1,400,835.00 0.530 0.522 0.530 10/28/2025 575 3134GWZ33 2431 Call Fed. Home Loan Mortgage Corp. 10/22/2020 1,500,000.00 1,500,000.00 1,218,690.00 1.250 1.232 1.250 10/22/2030 2,395 3134GWZL3 2432 Call Fed. Home Loan Mortgage Corp. 10/29/2020 1,500,000.00 1,500,000.00 1,402,215.00 0.570 0.562 0.570 10/29/2025 576 3134GW3T1 2433 Call Fed. Home Loan Mortgage Corp. 10/28/2020 2,000,000.00 2,000,000.00 1,627,180.00 1.400 1.380 1.400 10/28/2030 2,401 3134GW3H7 2434 Call Fed. Home Loan Mortgage Corp. 10/29/2020 1,500,000.00 1,500,000.00 1,402,410.00 0.610 0.601 0.610 10/29/2025 576 3134GWZZ2 2436 Call Fed. Home Loan Mortgage Corp. 10/28/2020 2,000,000.00 2,000,000.00 1,629,600.00 1.300 1.282 1.300 10/28/2030 2,401 3134GW3Z7 2437 Call Fed. Home Loan Mortgage Corp. 10/28/2020 750,000.00 750,000.00 701,167.50 0.600 0.591 0.600 10/28/2025 575 3134GW3X2 2438 Call Fed. Home Loan Mortgage Corp. 10/27/2020 1,500,000.00 1,500,000.00 1,403,145.00 0.625 0.616 0.625 10/27/2025 574 3134GW6N1 2440 Call Fed. Home Loan Mortgage Corp. 11/05/2020 1,500,000.00 1,500,000.00 1,219,530.00 1.400 1.380 1.400 11/05/2030 2,409 3134GW6N1 2444 Call Fed. Home Loan Mortgage Corp. 11/05/2020 1,500,000.00 1,500,000.00 1,219,530.00 1.400 1.380 1.400 11/05/2030 2,409 3134H1TP8 2999 Call Fed. Home Loan Mortgage Corp. 02/27/2024 1,500,000.00 1,500,000.00 1,497,915.00 6.000 5.917 5.999 02/21/2034 3,613 31364CCC0 1715 Federal National Mortgage Asso 11/10/2016 543,731.96 500,000.00 524,385.00 7.125 2.367 2.400 04/30/2026 759 3136G4R62 2392 Call Federal National Mortgage Asso 08/28/2020 1,000,000.00 1,000,000.00 941,920.00 0.625 0.616 0.625 08/28/2025 514 3136G4S87 2393 Call Federal National Mortgage Asso 08/27/2020 1,000,000.00 1,000,000.00 941,170.00 0.650 0.641 0.650 08/27/2025 513 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP Fl (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 23 1 Packet Pg. 166 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 13 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Federal Agency Bonds 3136G4Q97 2394 Call Federal National Mortgage Asso 08/27/2020 1,500,000.00 1,500,000.00 1,413,540.00 0.650 0.641 0.650 08/27/2025 513 3136G4V59 2397 Call Federal National Mortgage Asso 08/27/2020 1,500,000.00 1,500,000.00 1,413,030.00 0.625 0.616 0.625 08/27/2025 513 3136G44G5 2412 Call Federal National Mortgage Asso 09/22/2020 1,500,000.00 1,500,000.00 1,405,530.00 0.515 0.507 0.515 09/22/2025 539 3136G43L5 2413 Call Federal National Mortgage Asso 09/30/2020 1,500,000.00 1,500,000.00 1,404,810.00 0.550 0.542 0.550 09/30/2025 547 3136G44L4 2415 Call Federal National Mortgage Asso 09/25/2020 1,500,000.00 1,500,000.00 1,406,730.00 0.600 0.591 0.600 09/25/2025 542 3135G05Q2 2460 Federal National Mortgage Asso 12/07/2020 1,966,468.94 2,000,000.00 1,619,300.00 0.875 1.139 1.155 08/05/2030 2,317 3135GAAS0 2463 Call Federal National Mortgage Asso 12/23/2020 1,500,000.00 1,500,000.00 1,223,385.00 1.400 1.380 1.400 12/23/2030 2,457 3135G06Q1 2467 Call Federal National Mortgage Asso 12/30/2020 1,000,590.56 1,000,000.00 926,150.00 0.640 0.597 0.605 12/30/2025 638 880591CJ9 1508 Tennessee Valley Authority 11/20/2015 1,053,493.41 1,000,000.00 1,029,250.00 6.750 2.807 2.846 11/01/2025 579 880591 ER9 1519 Tennessee Valley Authority 01/15/2016 750,835.37 750,000.00 741,382.50 2.875 2.564 2.600 09/15/2024 167 880591CJ9 1589 Tennessee Valley Authority 04/18/2016 822,851.32 775,000.00 797,668.75 6.750 2.337 2.370 11/01/2025 579 880591CJ9 1714 Tennessee Valley Authority 11/10/2016 1,328,099.35 1,250,000.00 1,286,562.50 6.750 2.317 2.350 11/01/2025 579 Subtotal and Average 200,482,506.44 200,112,594.59 179,674,315.02 1.677 1.700 1,595 Treasury Securities (Notes) 91282CBC4 2505 TB U.S. Treasury 02/26/2021 1,490,558.04 1,500,000.00 1,391,250.00 0.375 0.731 0.742 12/31/2025 639 91282CBQ3 2516 TB U.S. Treasury 03/09/2021 1,490,717.02 1,500,000.00 1,386,390.00 0.500 0.819 0.831 02/28/2026 698 91282CCP4 2587 TB U.S. Treasury 09/24/2021 1,490,577.97 1,500,000.00 1,370,865.00 0.625 0.888 0.901 07/31/2026 851 91282CFN6 2701 TB U.S. Treasury 10/07/2022 1,000,235.67 1,000,000.00 994,990.00 4.250 4.142 4.199 09/30/2024 182 91282CER8 2740 TB U.S. Treasury 11/23/2022 1,494,824.75 1,500,000.00 1,493,100.00 2.500 4.636 4.700 05/31/2024 60 Subtotal and Average 6,966,913.45 7,000,000.00 6,636,595.00 2.112 2.141 507 Municipal Bonds 010878AS5 2173 MUN County of Alameda 12/05/2019 301,478.48 290,000.00 285,565.90 4.000 2.139 2.168 08/01/2026 852 010878BK1 2691 MUN County of Alameda 09/21/2022 1,441,928.28 1,500,000.00 1,418,130.00 3.699 4.281 4.340 08/01/2031 2,678 010878BJ4 2925 MUN County of Alameda 01/16/2024 1,208,732.48 1,250,000.00 1,190,212.50 3.649 4.193 4.251 08/01/2030 2,313 010831D51 2005 MUN Alameda County Joint Pws Auth. 12/24/2018 505,764.37 505,000.00 495,172.70 3.365 3.175 3.220 06/01/2025 426 010831DT9 2566 MUN Alameda County Joint Pws Auth. 08/13/2021 115,705.04 110,000.00 106,885.90 3.395 0.925 0.938 06/01/2026 791 010411CT1 2835 MUN State of Alabama 02/15/2023 982,200.52 1,000,000.00 970,260.00 3.450 4.142 4.200 11/01/2026 944 03667PFN7 2069 MUN Antelope Valley Community Coll 08/16/2019 501,778.82 500,000.00 496,480.00 3.026 1.876 1.902 08/01/2024 122 03667PHJ4 2694 MUN Antelope Valley Community Coll 09/23/2022 942,821.45 1,080,000.00 936,986.40 1.661 4.389 4.450 08/01/2029 1,948 03667PHL9 2784 MUN Antelope Valley Community Coll 01/05/2023 550,560.27 675,000.00 560,931.75 1.861 4.911 4.980 08/01/2031 2,678 Portfolio CPA AP Run Date: 04/29/2024 - 12:45 Fl (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 24 I Packet Pg. 167 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 14 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Municipal Bonds 05028XAH7 3001 MUN City of Auburn 03/01/2024 382,389.09 445,000.00 384,564.55 2.206 4.813 4.880 06/01/2030 2,252 05028XAG9 3002 MUN City of Auburn 03/01/2024 232,126.96 265,000.00 232,948.25 2.056 4.734 4.800 06/01/2029 1,887 072024XC1 2558 MUN Bay Area Toll Authority 07/26/2021 1,761,291.39 1,750,000.00 1,628,532.50 1.079 0.739 0.750 04/01/2026 730 084154G49 2817 MUN Berkeley Unified School Dist. 01/26/2023 208,935.73 250,000.00 207,675.00 1.856 4.524 4.586 08/01/2031 2,678 088006KA8 2612 MUN Beverly Hills Public Fing Auth 11/15/2021 349,609.52 350,000.00 322,080.50 1.147 1.183 1.200 06/01/2026 791 088006KB6 2680 MUN Beverly Hills Public Fing Auth 04/01/2022 468,166.55 490,000.00 438,893.00 1.327 2.810 2.850 06/01/2027 1,156 088023PL4 2682 MUN Beverly Hills Unified Sch Dist 04/13/2022 920,389.40 920,000.00 879,648.80 2.700 2.644 2.681 08/01/2026 852 121457EQ4 1548 MUN Burlingame School District 02/24/2016 247,083.35 240,000.00 242,383.20 6.238 3.557 3.606 08/01/2025 487 119174AJ9 2734 MUN City of Buena Park 11/18/2022 570,544.07 685,000.00 568,954.15 1.882 5.076 5.147 07/01/2030 2,282 12082SDN1 2570 MUN Burbank Unified School Distri. 08/30/2021 1,009,249.01 1,000,000.00 926,010.00 1.367 0.947 0.960 08/01/2026 852 127109QD1 2119 MUN Cabrillo Community College Dis 10/08/2019 2,000,000.00 2,000,000.00 1,870,040.00 2.385 2.342 2.375 08/01/2027 1,217 142665DJ4 1857 MUN Carlsbad Unified School Dist . 09/27/2017 319,623.68 305,000.00 308,483.10 5.234 2.850 2.890 08/01/2026 852 13034AL73 2666 MUN CA Infrastructure -Econ Dev Bk 02/16/2022 203,949.73 210,000.00 192,156.30 1.035 2.224 2.254 10/01/2026 913 13034AL99 2893 MUN CA Infrastructure -Econ Dev Bk 05/08/2023 453,292.64 500,000.00 439,960.00 1.466 3.728 3.780 10/01/2028 1,644 13067WRC8 2633 MUN CA ST Dept of WTR Resources 12/13/2021 178,455.63 180,000.00 168,726.60 0.790 1.301 1.320 12/01/2025 609 13067WRD6 2645 MUN CA ST Dept of WTR Resources 12/23/2021 295,921.35 300,000.00 273,162.00 0.920 1.430 1.450 12/01/2026 974 13067WRK0 2944 MUN CA ST Dept of WTR Resources 01/24/2024 176,789.54 225,000.00 178,022.25 1.609 4.589 4.653 12/01/2032 3,166 15722TJR3 2564 MUN Chabot -Las Positas CCD 08/16/2021 286,102.45 285,000.00 262,425.15 1.080 0.897 0.910 08/01/2026 852 15722TJQ5 2589 MUN Chabot -Las Positas CCD 09/29/2021 124,950.51 125,000.00 118,455.00 0.880 0.897 0.910 08/01/2025 487 15722TJS1 2830 MUN Chabot -Las Positas CCD 02/13/2023 186,126.23 205,000.00 184,497.95 1.287 4.296 4.356 08/01/2027 1,217 15722TJQ5 2842 MUN Chabot -Las Positas CCD 03/07/2023 950,588.89 1,000,000.00 947,640.00 0.880 4.783 4.850 08/01/2025 487 157432KL8 2698 MUN Chaffey Community Clg District 10/06/2022 259,348.62 300,000.00 265,644.00 2.329 4.931 5.000 06/01/2030 2,252 17131 RAUO 2653 MUN City of Chula Vista 01/10/2022 982,115.75 1,000,000.00 917,860.00 0.840 1.676 1.700 06/01/2026 791 17131RAZ9 2923 MUN City of Chula Vista 01/10/2024 821,377.90 1,000,000.00 824,820.00 1.828 4.753 4.820 06/01/2031 2,617 13124MCE3 2544 MUN Calleguas Municipal Water Dist 07/01/2021 561,412.84 550,000.00 483,472.00 1.865 1.425 1.445 07/01/2029 1,917 13124MCB9 2646 MUN Calleguas Municipal Water Dist 12/27/2021 597,994.95 600,000.00 554,130.00 1.097 1.233 1.250 07/01/2026 821 13124MCB9 2791 MUN Calleguas Municipal Water Dist 01/09/2023 157,453.02 170,000.00 157,003.50 1.097 4.625 4.690 07/01/2026 821 134159A77 2753 MUN Campbell Union High Sch Dist 12/07/2022 425,180.95 500,000.00 430,435.00 1.472 4.714 4.780 08/01/2029 1,948 21969AAJ1 2601 MUN City of Corona 10/14/2021 504,462.56 500,000.00 433,955.00 2.242 2.052 2.081 05/01/2030 2,221 21969AAH5 2943 MUN City of Corona 01/24/2024 884,575.91 1,000,000.00 880,340.00 2.042 4.562 4.626 05/01/2029 1,856 21969AAH5 2967 MUN City of Corona 02/12/2024 285,640.15 325,000.00 286,110.50 2.042 4.694 4.760 05/01/2029 1,856 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 25 1 Packet Pg. 168 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 15 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Municipal Bonds 223047AG6 2968 MUN City of Covina 02/12/2024 354,473.98 400,000.00 353,008.00 1.767 4.645 4.710 08/01/2028 1,583 223047AH4 2990 MUN City of Covina 02/23/2024 861,344.23 1,000,000.00 865,710.00 1.916 4.842 4.909 08/01/2029 1,948 212204JJ1 2103 MUN Contra Costa Community College 09/12/2019 401,775.05 400,000.00 365,488.00 2.213 2.071 2.100 08/01/2028 1,583 212204JK8 2120 MUN Contra Costa Community College 09/20/2019 977,142.43 990,000.00 889,069.50 2.263 2.505 2.539 08/01/2029 1,948 212204JK8 2244 MUN Contra Costa Community College 02/07/2020 1,509,583.13 1,500,000.00 1,347,075.00 2.263 2.100 2.130 08/01/2029 1,948 212204JF9 2291 MUN Contra Costa Community College 03/09/2020 323,194.60 320,000.00 307,660.80 1.918 1.128 1.143 08/01/2025 487 212204LM1 2555 MUN Contra Costa Community College 08/02/2021 1,011,990.66 1,000,000.00 926,630.00 1.300 0.764 0.775 08/01/2026 852 250375JX1 2611 MUN Desert Community Clg Dist 11/12/2021 197,891.40 200,000.00 179,850.00 1.169 1.479 1.500 08/01/2027 1,217 250375LA8 2738 MUN Desert Community Clg Dist 11/23/2022 188,046.92 200,000.00 191,364.00 3.000 4.965 5.034 08/01/2027 1,217 260888AJ1 2978 MUN City of Downey 02/15/2024 152,339.67 185,000.00 151,957.15 1.950 4.842 4.910 06/01/2031 2,617 250433UA5 2635 MUN Desert Sands Unif Sch District 12/16/2021 891,325.52 880,000.00 827,613.60 1.982 1.390 1.410 08/01/2026 852 284035AK8 2696 MUN City of El Segundo 09/29/2022 777,345.03 935,000.00 789,046.50 2.267 5.118 5.190 07/01/2031 2,647 357172VA0 1646 MUN Fremon Union High School Distr 06/28/2016 524,370.11 500,000.00 506,105.00 6.080 2.994 3.035 02/01/2026 671 357172C52 2595 MUN Fremon Union High School Distr 10/01/2021 237,644.59 235,000.00 198,906.35 2.020 1.825 1.851 08/01/2031 2,678 345102PF8 2699 MUN Foothill -De Anza Comm Clg Dist 10/06/2022 1,215,456.33 1,230,000.00 1,211,033.40 0.575 4.241 4.300 08/01/2024 122 345102PG6 2818 MUN Foothill -De Anza Comm Clg Dist 01/27/2023 517,517.84 540,000.00 512,562.60 0.906 4.172 4.230 08/01/2025 487 359819DN6 1916 MUN Fullerton School District 02/14/2018 996,824.11 995,000.00 962,403.80 3.160 3.028 3.070 08/01/2026 852 359819DM8 1917 MUN Fullerton School District 02/14/2018 750,353.70 750,000.00 731,782.50 3.040 2.959 3.000 08/01/2025 487 359819DN6 2085 MUN Fullerton School District 08/29/2019 374,677.83 365,000.00 353,042.60 3.160 1.913 1.940 08/01/2026 852 3733844V5 1666 MUN State of Georgia 07/29/2016 1,830,219.31 1,825,000.00 1,784,941.25 2.375 1.972 1.999 02/01/2025 306 373384RX6 1775 MUN State of Georgia 04/10/2017 254,061.06 250,000.00 246,185.00 4.000 2.739 2.777 10/01/2025 548 373384RY4 1919 MUN State of Georgia 01/26/2018 1,125,849.87 1,095,000.00 1,075,465.20 4.310 2.979 3.020 10/01/2026 913 373384RY4 1945 MUN State of Georgia 03/19/2018 204,593.11 200,000.00 196,432.00 4.310 3.204 3.248 10/01/2026 913 373385BU6 1967 MUN State of Georgia 10/31/2018 343,659.34 350,000.00 333,655.00 2.720 3.412 3.460 02/01/2027 1,036 373384RY4 2229 MUN State of Georgia 01/31/2020 449,333.23 425,000.00 417,418.00 4.310 1.837 1.863 10/01/2026 913 373384RW8 2332 MUN State of Georgia 03/23/2020 1,009,090.22 1,000,000.00 990,890.00 3.820 1.889 1.915 10/01/2024 183 373384X76 2953 MUN State of Georgia 01/29/2024 960,757.30 1,000,000.00 943,590.00 4.000 4.438 4.500 02/01/2034 3,593 373384X76 2956 MUN State of Georgia 01/30/2024 1,200,933.00 1,250,000.00 1,179,487.50 4.000 4.438 4.500 02/01/2034 3,593 373384TP1 2981 MUN State of Georgia 02/16/2024 992,418.18 1,000,000.00 988,820.00 4.150 4.714 4.780 07/01/2025 456 378612AL9 2109 MUN City of Glendora 09/16/2019 1,340,701.15 1,345,000.00 1,221,165.85 2.265 2.318 2.350 06/01/2028 1,522 378612AL9 2137 MUN City of Glendora 10/02/2019 400,600.19 400,000.00 363,172.00 2.265 2.194 2.225 06/01/2028 1,522 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 26 1 Packet Pg. 169 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 16 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Municipal Bonds 378612AJ4 2590 MUN City of Glendora 09/29/2021 1,394,269.76 1,365,000.00 1,285,324.95 2.108 1.075 1.090 06/01/2026 791 378460A74 2739 MUN Glendale Unified School Dist. 11/25/2022 476,116.84 535,000.00 477,503.55 1.113 4.686 4.751 09/01/2027 1,248 378460064 2916 MUN Glendale Unified School Dist. 12/22/2023 893,195.14 1,095,000.00 880,577.10 1.830 4.438 4.499 09/01/2032 3,075 419792DA1 1685 MUN State of Hawaii 10/19/2016 1,060,772.15 1,045,000.00 1,009,156.50 3.150 2.431 2.465 10/01/2026 913 419791YS1 1961 MUN State of Hawaii 10/25/2018 253,385.97 250,000.00 249,527.50 5.230 3.363 3.410 02/01/2025 306 419791YT9 1995 MUN State of Hawaii 12/06/2018 825,622.87 800,000.00 802,280.00 5.330 3.304 3.350 02/01/2026 671 419792F92 2820 MUN State of Hawaii 01/30/2023 671,963.95 700,000.00 664,363.00 1.033 4.172 4.230 08/01/2025 487 419792YWO 2926 MUN State of Hawaii 01/16/2024 823,776.35 1,000,000.00 811,340.00 1.595 4.389 4.450 08/01/2031 2,678 419792M78 2931 MUN State of Hawaii 01/17/2024 1,190,980.32 1,165,000.00 1,181,741.05 4.821 4.439 4.501 10/01/2032 3,105 419792M86 2948 MUN State of Hawaii 01/25/2024 1,092,960.64 1,075,000.00 1,089,759.75 4.841 4.557 4.621 10/01/2033 3,470 419792M78 2952 MUN State of Hawaii 01/29/2024 1,276,821.56 1,255,000.00 1,273,034.35 4.821 4.508 4.571 10/01/2032 3,105 446201AE5 2560 MUN City of Huntington Beach 08/12/2021 1,009,078.84 1,000,000.00 925,030.00 1.344 0.909 0.921 06/15/2026 805 446201AE5 2562 MUN City of Huntington Beach 08/13/2021 1,008,687.51 1,000,000.00 925,030.00 1.344 0.927 0.939 06/15/2026 805 446216HN6 2790 MUN City of Huntington Beach 01/09/2023 691,459.82 805,000.00 701,138.90 1.731 4.931 5.000 05/01/2029 1,856 446201AE5 2840 MUN City of Huntington Beach 03/03/2023 160,778.20 175,000.00 161,880.25 1.344 5.340 5.414 06/15/2026 805 530319SP8 2768 MUN Liberty Union High Sch Distr 12/15/2022 466,133.17 530,000.00 468,233.80 1.484 4.614 4.678 08/01/2028 1,583 503433AKO 2660 MUN City of La Habra 02/07/2022 499,922.67 500,000.00 432,860.00 2.673 2.638 2.675 08/01/2031 2,678 503433AT1 2941 MUN City of La Habra 01/22/2024 441,281.99 500,000.00 440,930.00 2.573 4.686 4.751 08/01/2030 2,313 544290JH3 2681 MUN Los Altos Elementary Sch Distr 03/24/2022 496,246.20 500,000.00 489,925.00 1.000 2.522 2.557 10/01/2024 183 544351 NP0 1969 MUN City of Los Angeles 11/02/2018 293,269.27 295,000.00 286,037.90 3.300 3.530 3.579 09/01/2026 883 544351MS5 2008 MUN City of Los Angeles 01/07/2019 1,008,102.94 1,000,000.00 974,140.00 3.500 3.077 3.119 09/01/2026 883 544351NQ8 2200 MUN City of Los Angeles 01/06/2020 866,251.91 840,000.00 809,827.20 3.400 2.360 2.393 09/01/2027 1,248 544351LQO 2213 MUN City of Los Angeles 01/22/2020 1,013,525.28 985,000.00 917,704.80 3.050 2.413 2.446 09/01/2029 1,979 544351KVO 2283 MUN City of Los Angeles 03/05/2020 1,036,866.99 1,000,000.00 966,230.00 3.150 1.519 1.541 09/01/2026 883 544351QXO 2692 MUN City of Los Angeles 09/28/2022 999,575.99 1,000,000.00 981,280.00 4.400 4.346 4.406 09/01/2032 3,075 544351MR7 2783 MUN City of Los Angeles 12/23/2022 294,706.64 300,000.00 294,051.00 3.450 4.724 4.790 09/01/2025 518 544351KT5 2800 MUN City of Los Angeles 01/17/2023 308,133.63 310,000.00 306,813.20 2.840 4.290 4.350 09/01/2024 153 54473ENT7 2947 MUN City of Los Angeles Fin Author 01/25/2024 1,119,649.74 1,000,000.00 1,121,440.00 7.488 5.721 5.801 08/01/2033 3,409 54438CYN6 2487 MUN Los Angeles Community College 01/28/2021 1,020,871.63 1,000,000.00 864,900.00 1.806 1.432 1.452 08/01/2030 2,313 54438CYLO 2592 MUN Los Angeles Community College 09/30/2021 250,539.17 250,000.00 230,970.00 1.174 1.064 1.078 08/01/2026 852 54438CYLO 2614 MUN Los Angeles Community College 11/15/2021 1,497,414.62 1,500,000.00 1,385,820.00 1.174 1.233 1.250 08/01/2026 852 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 27 1 Packet Pg. 170 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 17 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Municipal Bonds 54438CYLO 2642 MUN Los Angeles Community College 12/21/2021 274,216.55 275,000.00 254,067.00 1.174 1.282 1.300 08/01/2026 852 54438CMS8 2871 MUN Los Angeles Community College 04/10/2023 1,130,223.51 1,000,000.00 1,119,510.00 7.530 4.615 4.680 08/01/2029 1,948 54438CYP1 3011 MUN Los Angeles Community College 03/06/2024 643,236.36 770,000.00 646,191.70 2.106 4.438 4.500 08/01/2032 3,044 5447122K7 2641 MUN Los Angeles Cnty Met Tran Auth 12/21/2021 1,045,999.87 1,000,000.00 1,000,220.00 5.130 1.085 1.100 06/01/2025 426 544495VX9 1949 MUN Los Angeles Dept. of WTR & PWR 03/29/2018 1,592,406.12 1,500,000.00 1,534,680.00 5.516 3.254 3.300 07/01/2027 1,186 544495VX9 1965 MUN Los Angeles Dept. of WTR & PWR 10/29/2018 446,914.36 425,000.00 434,826.00 5.516 3.600 3.650 07/01/2027 1,186 57582PUT5 2227 MUN State of Massachusetts 01/30/2020 278,915.48 250,000.00 248,975.00 4.910 2.331 2.363 05/01/2029 1,856 57582PUT5 2543 MUN State of Massachusetts 07/01/2021 1,162,954.36 1,000,000.00 995,900.00 4.910 1.484 1.505 05/01/2029 1,856 57582PUS7 2684 MUN State of Massachusetts 04/05/2022 1,049,676.45 1,000,000.00 992,440.00 4.760 2.968 3.010 05/01/2027 1,125 57582PUD0 2985 MUN State of Massachusetts 02/21/2024 1,029,586.71 1,000,000.00 1,008,000.00 5.306 4.645 4.709 01/01/2030 2,101 57582PUD0 2994 MUN State of Massachusetts 02/23/2024 1,028,072.27 1,000,000.00 1,008,000.00 5.306 4.675 4.739 01/01/2030 2,101 57582PUD0 3012 MUN State of Massachusetts 03/07/2024 1,293,976.72 1,250,000.00 1,260,000.00 5.306 4.537 4.600 01/01/2030 2,101 5741926N5 2184 MUN State of Maryland 12/16/2019 513,949.63 500,000.00 494,630.00 4.350 2.089 2.118 08/01/2025 487 5741926N5 2581 MUN State of Maryland 09/23/2021 256,742.21 245,000.00 242,368.70 4.350 0.690 0.700 08/01/2025 487 601670ML3 2746 MUN Milpitas Unified School Distr 12/02/2022 549,262.41 630,000.00 556,913.70 1.451 4.802 4.869 08/01/2028 1,583 562784AMO 2647 MUN City of Manhattan Beach 01/05/2022 657,413.36 650,000.00 552,135.60 2.341 2.129 2.159 01/01/2032 2,831 562784AL2 2927 MUN City of Manhattan Beach 01/16/2024 343,918.90 400,000.00 346,380.00 2.241 4.635 4.700 01/01/2031 2,466 562784AK4 2930 MUN City of Manhattan Beach 01/17/2024 351,011.29 400,000.00 352,448.00 2.141 4.537 4.600 01/01/2030 2,101 562784AM05 2964 MUN City of Manhattan Beach 02/12/2024 1,068,110.71 1,250,000.00 1,061,799.24 2.341 4.537 4.600 01/01/2032 2,831 562784AM05 2972 MUN City of Manhattan Beach 02/13/2024 341,790.94 400,000.00 339,775.76 2.341 4.537 4.600 01/01/2032 2,831 586840ND8 2104 MUN Menlo Park City School Dist. 10/08/2019 1,000,000.00 1,000,000.00 932,570.00 2.214 2.183 2.214 07/01/2027 1,186 62451FJE1 2708 MUN Mtn. View-Whisman School Dist. 10/19/2022 1,068,836.59 1,135,000.00 1,065,696.90 1.893 4.487 4.550 09/01/2026 883 56781RGU5 1858 MUN Marin Community College Dist. 09/28/2017 506,386.11 500,000.00 481,080.00 3.272 2.791 2.830 08/01/2027 1,217 56781 RGT8 1973 MUN Marin Community College Dist. 11/05/2018 119,200.04 120,000.00 116,100.00 3.172 3.452 3.500 08/01/2026 852 56781RJL2 2084 MUN Marin Community College Dist. 08/29/2019 261,013.32 250,000.00 240,982.50 3.330 1.874 1.900 08/01/2027 1,217 56781RJJ7 2287 MUN Marin Community College Dist. 03/06/2020 325,118.69 310,000.00 310,192.20 5.000 1.193 1.210 08/01/2025 487 56781RKH9 2495 MUN Marin Community College Dist. 02/25/2021 1,000,000.00 1,000,000.00 834,350.00 1.451 1.431 1.451 08/01/2030 2,313 56781RKH9 2499 MUN Marin Community College Dist. 02/25/2021 708,331.63 710,000.00 592,388.50 1.451 1.470 1.490 08/01/2030 2,313 56781RKU0 2568 MUN Marin Community College Dist. 09/14/2021 1,000,000.00 1,000,000.00 917,750.00 0.893 0.880 0.893 08/01/2026 852 56781RKD8 2588 MUN Marin Community College Dist. 09/29/2021 282,663.72 285,000.00 260,227.80 0.679 1.025 1.040 08/01/2026 852 623040KQ4 2208 MUN Mt. San Antonio Community Coll 02/04/2020 230,000.00 230,000.00 209,348.30 2.569 2.533 2.569 08/01/2029 1,948 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 28 1 Packet Pg. 171 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 18 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Municipal Bonds 623040KX9 2661 MUN Mt. San Antonio Community Coll 02/07/2022 805,113.27 785,000.00 704,270.60 2.649 2.173 2.203 08/01/2030 2,313 605581 LM7 1968 MUN State of Mississippi 11/07/2018 1,510,964.87 1,500,000.00 1,467,315.00 3.751 3.377 3.424 11/01/2026 944 605581LM7 1972 MUN State of Mississippi 11/07/2018 503,371.82 500,000.00 489,105.00 3.751 3.401 3.449 11/01/2026 944 605581HL4 2087 MUN State of Mississippi 08/30/2019 755,784.56 750,000.00 739,245.00 2.987 1.745 1.770 12/01/2024 244 605581HL4 2090 MUN State of Mississippi 09/04/2019 503,732.91 500,000.00 492,830.00 2.987 1.783 1.807 12/01/2024 244 6055805W5 2096 MUN State of Mississippi 09/09/2019 156,187.15 150,000.00 148,608.00 4.681 1.888 1.914 11/01/2025 579 6055805V7 2189 MUN State of Mississippi 12/19/2019 253,313.31 250,000.00 247,610.00 4.511 2.079 2.108 11/01/2024 214 605581QR1 2626 MUN State of Mississippi 12/09/2021 1,006,558.89 1,000,000.00 846,020.00 2.117 1.992 2.020 10/01/2031 2,739 605581LL9 2629 MUN State of Mississippi 12/06/2021 259,857.35 250,000.00 244,917.50 3.646 1.080 1.095 11/01/2025 579 61255QAM8 2928 MUN City of Monterey 01/16/2024 453,226.67 560,000.00 445,922.40 2.193 4.734 4.800 06/01/2033 3,348 630337AL7 2055 MUN City of Napa Solid Waste 08/08/2019 595,383.08 595,000.00 588,841.75 2.200 1.968 1.996 08/01/2024 122 64985HWS2 2007 MUN New York St Envrmmntl Facs 01/04/2019 449,069.17 450,000.00 445,693.50 2.120 2.860 2.900 07/15/2024 105 6500357D4 2097 MUN New York State Urban Dev Corp. 09/09/2019 712,347.31 700,000.00 676,529.00 3.070 2.071 2.100 03/15/2026 713 650036AV8 2683 MUN New York State Urban Dev Corp. 03/28/2022 963,816.86 1,000,000.00 913,270.00 1.496 2.777 2.816 03/15/2027 1,078 649791PQ7 2146 MUN New York State Envrmmntl Corp 10/31/2019 1,500,363.45 1,500,000.00 1,462,095.00 2.120 2.063 2.091 02/15/2025 320 649791PS3 2224 MUN New York State Envrmmntl Corp 01/30/2020 586,193.56 580,000.00 544,886.80 2.360 1.933 1.960 02/15/2027 1,050 649791PR5 2575 MUN New York State Envrmmntl Corp 09/13/2021 1,540,058.97 1,500,000.00 1,431,975.00 2.260 0.794 0.805 02/15/2026 685 649791PS3 2677 MUN New York State Envrmmntl Corp 03/16/2022 1,000,046.76 1,000,000.00 939,460.00 2.360 2.325 2.358 02/15/2027 1,050 649791PS3 2678 MUN New York State Envrmmntl Corp 03/21/2022 998,909.73 1,000,000.00 939,460.00 2.360 2.367 2.400 02/15/2027 1,050 672240WY0 2293 MUN City of Oakland 03/09/2020 1,552,646.57 1,500,000.00 1,324,485.00 2.110 1.436 1.456 01/15/2030 2,115 672240WY0 2307 MUN City of Oakland 03/13/2020 1,535,822.80 1,500,000.00 1,324,485.00 2.110 1.638 1.661 01/15/2030 2,115 672240WY0 2313 MUN City of Oakland 03/16/2020 1,070,517.59 1,080,000.00 953,629.20 2.110 2.247 2.279 01/15/2030 2,115 672240WX2 2316 MUN City of Oakland 03/16/2020 1,492,678.83 1,500,000.00 1,351,410.00 2.070 2.151 2.181 01/15/2029 1,750 672240ZA9 2919 MUN City of Oakland 12/26/2023 1,457,011.89 1,350,000.00 1,452,843.00 5.650 4.523 4.586 07/15/2033 3,392 672319CF5 2630 MUN City of Oakland Pension 12/06/2021 472,897.62 450,000.00 447,250.50 4.676 1.562 1.584 12/15/2025 623 677765GY9 2165 MUN Ohlone Community College Distr 11/22/2019 598,788.30 600,000.00 558,294.00 2.237 2.271 2.303 08/01/2027 1,217 677765GY9 2175 MUN Ohlone Community College Distr 12/06/2019 278,953.58 280,000.00 260,537.20 2.237 2.327 2.360 08/01/2027 1,217 677765HA0 2179 MUN Ohlone Community College Distr 12/11/2019 966,404.01 970,000.00 874,484.10 2.337 2.382 2.415 08/01/2029 1,948 677765GZ6 2341 MUN Ohlone Community College Distr 05/08/2020 1,204,496.71 1,185,000.00 1,086,171.00 2.287 1.849 1.875 08/01/2028 1,583 6775207G7 1832 MUN State of Ohio 06/30/2017 900,000.00 900,000.00 900,000.00 4.971 2.416 2.450 04/01/2024 0 677521CT1 2308 MUN State of Ohio 03/13/2020 540,151.55 500,000.00 500,855.00 5.262 1.710 1.734 09/01/2026 883 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 29 1 Packet Pg. 172 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 19 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Municipal Bonds 683050BW7 2847 MUN City of Ontario (Pub Fin Auth) 03/17/2023 561,867.87 600,000.00 556,560.00 1.440 4.339 4.400 08/01/2026 852 68442CCY0 2578 MUN Orange Cnty Water District 09/16/2021 320,937.26 315,000.00 303,297.75 2.095 0.690 0.700 08/15/2025 501 685585FD8 1910 MUN Orchard School District 01/25/2018 164,412.32 165,000.00 160,967.40 3.125 3.208 3.253 08/01/2027 1,217 68607LXQ5 1974 MUN State of Oregon 11/06/2018 526,947.56 500,000.00 507,975.00 5.892 3.516 3.565 06/01/2027 1,156 68607LXQ5 2015 MUN State of Oregon 01/16/2019 472,833.36 445,000.00 452,097.75 5.892 3.537 3.587 06/01/2027 1,156 68609TDT2 2223 MUN State of Oregon 01/30/2020 570,713.49 570,000.00 568,922.70 3.227 1.641 1.664 05/01/2024 30 68607LXQ5 2230 MUN State of Oregon 01/31/2020 541,383.75 495,000.00 502,895.25 5.892 2.583 2.619 06/01/2027 1,156 68607LXQ5 2266 MUN State of Oregon 02/24/2020 1,097,085.14 1,000,000.00 1,015,950.00 5.892 2.482 2.517 06/01/2027 1,156 68609BXT9 2310 MUN State of Oregon 03/13/2020 368,041.46 350,000.00 335,097.00 3.080 1.302 1.320 05/01/2027 1,125 68609TVS4 2378 MUN State of Oregon 07/02/2020 359,451.69 355,000.00 300,354.85 1.672 1.433 1.452 06/01/2030 2,252 68608KA24 2542 MUN State of Oregon 07/01/2021 1,038,795.87 870,000.00 898,422.90 5.332 1.943 1.970 08/01/2030 2,313 68609TU30 2549 MUN State of Oregon 07/08/2021 1,241,975.81 1,225,000.00 1,082,691.75 1.484 1.134 1.150 08/01/2028 1,583 68609TT81 2584 MUN State of Oregon 09/24/2021 265,357.66 265,000.00 250,896.70 0.803 0.690 0.700 08/01/2025 487 68609TZT8 2624 MUN State of Oregon 11/19/2021 248,160.64 250,000.00 229,725.00 0.984 1.292 1.310 08/01/2026 852 68609T3M8 2627 MUN State of Oregon 11/26/2021 899,257.75 900,000.00 753,111.00 2.037 2.020 2.048 11/01/2031 2,770 68607LXQ5 2679 MUN State of Oregon 04/01/2022 1,074,731.29 1,000,000.00 1,015,950.00 5.892 3.259 3.304 06/01/2027 1,156 68607LXQ5 2977 MUN State of Oregon 02/15/2024 1,021,271.67 1,000,000.00 1,015,950.00 5.892 5.079 5.150 06/01/2027 1,156 692039QX1 2859 MUN Oxnard Union High School Distr 03/23/2023 454,942.60 500,000.00 454,010.00 1.512 4.458 4.520 08/01/2027 1,217 69511AAS3 2138 MUN City of Pacifica 10/23/2019 1,015,644.31 1,015,000.00 983,403.05 2.563 2.469 2.503 06/01/2025 426 69511AAT1 2139 MUN City of Pacifica 10/23/2019 580,171.22 580,000.00 552,096.20 2.663 2.611 2.647 06/01/2026 791 70227RBM1 2573 MUN Pasadena CA Public Finance Aut 09/09/2021 122,610.11 120,000.00 112,818.00 1.984 0.903 0.915 05/01/2026 760 702274CS8 2615 MUN Pasadena CA Public Finance Aut 12/01/2021 579,644.27 550,000.00 532,532.00 3.500 1.380 1.400 12/01/2026 974 697379TV7 2838 MUN Palo Alto Unified School Dist. 02/17/2023 1,547,732.88 1,500,000.00 1,534,770.00 5.862 4.698 4.764 07/01/2027 1,186 697379TV7 2839 MUN Palo Alto Unified School Dist. 02/21/2023 1,548,435.76 1,500,000.00 1,534,770.00 5.862 4.683 4.748 07/01/2027 1,186 697379TV7 2841 MUN Palo Alto Unified School Dist. 03/06/2023 1,516,346.90 1,480,000.00 1,514,306.40 5.862 4.941 5.010 07/01/2027 1,186 725894NB1 3023 MUN Placentia-Yorba Linda Unif Sch 03/13/2024 853,925.96 1,000,000.00 846,320.00 2.064 4.359 4.420 08/01/2031 2,678 697511FU2 2582 MUN Polomar Community Clge Distri 10/13/2021 1,000,000.00 1,000,000.00 921,800.00 1.031 1.016 1.031 08/01/2026 852 697511 FD0 2676 MUN Polomar Community Clge Distri 03/15/2022 326,711.56 335,000.00 310,032.45 1.199 2.288 2.320 08/01/2026 852 752111HE7 2889 MUN Rancho Water Dist. Fin. Auth. 05/03/2023 625,177.91 600,000.00 614,130.00 5.125 4.284 4.344 08/01/2030 2,313 757710UE6 2388 MUN Redondo Beach Unified School D 08/06/2020 758,866.31 750,000.00 634,312.50 1.660 1.439 1.459 08/01/2030 2,313 757710UE6 2763 MUN Redondo Beach Unified School D 12/14/2022 595,444.09 715,000.00 604,711.25 1.660 4.783 4.850 08/01/2030 2,313 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 30 1 Packet Pg. 173 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 20 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Municipal Bonds 76222RYN6 2192 MUN State of Rhode Island 12/20/2019 259,912.20 260,000.00 253,614.40 2.000 2.231 2.262 01/15/2025 289 76222RXB3 2219 MUN State of Rhode Island 01/27/2020 1,562,701.63 1,500,000.00 1,433,760.00 3.250 2.077 2.106 04/01/2028 1,461 76222RXB3 2239 MUN State of Rhode Island 02/06/2020 574,860.97 550,000.00 525,712.00 3.250 1.990 2.018 04/01/2028 1,461 76886PJP9 2596 MUN Riverside Cmnty College Distt. 10/04/2021 1,368,221.31 1,365,000.00 1,259,608.35 1.124 1.006 1.020 08/01/2026 852 76886PJS3 2733 MUN Riverside Cmnty College Distt. 11/17/2022 477,195.35 560,000.00 490,324.80 1.785 5.022 5.092 08/01/2029 1,948 76886PJS3 2936 MUN Riverside Cmnty College Distt. 01/19/2024 104,120.67 120,000.00 105,069.60 1.785 4.562 4.625 08/01/2029 1,948 77781RCW1 2942 MUN City of Roseville Electric Sys 01/24/2024 395,956.53 470,000.00 394,024.50 1.831 4.487 4.550 02/01/2031 2,497 752147HH4 2522 MUN Rancho Santiago Comm College D 03/29/2021 450,000.00 450,000.00 441,283.50 0.634 0.625 0.633 09/01/2024 153 752147HK7 2805 MUN Rancho Santiago Comm College D 01/19/2023 588,962.50 635,000.00 581,418.70 0.956 4.164 4.222 09/01/2026 883 757889EH9 2130 MUN Redwood City School District 10/16/2019 1,000,000.00 1,000,000.00 930,460.00 2.284 2.252 2.284 08/01/2027 1,217 757889EG1 2253 MUN Redwood City School District 02/13/2020 1,104,810.41 1,095,000.00 1,034,041.35 2.159 1.727 1.751 08/01/2026 852 801139AE6 2603 MUN City of Santa Ana 10/18/2021 174,746.61 175,000.00 160,599.25 1.176 1.223 1.240 08/01/2026 852 801139AF3 2747 MUN City of Santa Ana 12/02/2022 1,111,667.66 1,250,000.00 1,122,812.50 1.465 5.178 5.250 08/01/2027 1,217 801139AK2 2932 MUN City of Santa Ana 01/18/2024 424,045.26 500,000.00 418,645.00 2.189 4.606 4.670 08/01/2031 2,678 801315KU5 2385 MUN Santa Barbara Unified School D 07/21/2020 493,615.57 490,000.00 425,996.20 1.653 1.483 1.504 08/01/2029 1,948 796720NCO 2166 MUN San Bernardino Cmty College Di 12/12/2019 1,500,000.00 1,500,000.00 1,397,130.00 2.590 2.554 2.590 08/01/2028 1,583 796720NV8 2365 MUN San Bernardino Cmty College Di 07/07/2020 2,000,000.00 2,000,000.00 1,764,100.00 1.848 1.822 1.848 08/01/2029 1,948 796720ND8 2920 MUN San Bernardino Cmty College Di 01/04/2024 921,076.23 1,000,000.00 919,360.00 2.640 4.261 4.320 08/01/2029 1,948 801546PJ5 1899 MUN County of Santa Clara 01/12/2018 1,460,000.00 1,460,000.00 1,447,152.00 2.680 2.643 2.680 08/01/2024 122 801686TF3 2557 MUN Santa Clarita Community Colleg 08/02/2021 1,261,311.28 1,250,000.00 1,151,487.50 1.146 0.742 0.752 08/01/2026 852 80168ACV7 2181 MUN Santa Clara Valley Water Dist. 12/12/2019 1,554,059.04 1,555,000.00 1,435,529.35 2.434 2.416 2.450 06/01/2028 1,522 80168FPC4 2793 MUN Santa Clara Valley Water Dist. 01/12/2023 851,955.47 1,000,000.00 843,560.00 1.634 4.418 4.480 06/01/2030 2,252 80181PCT2 1906 MUN Santa Cruz County Capital Fin. 01/25/2018 464,642.40 465,000.00 462,688.95 2.500 2.968 3.010 06/01/2024 61 80181 PCU9 1907 MUN Santa Cruz County Capital Fin. 01/25/2018 463,549.64 465,000.00 452,254.35 2.750 3.008 3.050 06/01/2025 426 80181PCV7 1908 MUN Santa Cruz County Capital Fin. 01/25/2018 468,662.14 470,000.00 451,989.60 3.000 3.107 3.150 06/01/2026 791 80181PCW5 1909 MUN Santa Cruz County Capital Fin. 01/25/2018 278,098.65 280,000.00 265,932.80 3.000 3.205 3.250 06/01/2027 1,156 801747AF3 2671 MUN Santa Cruz MET Transit Dist. 03/03/2022 1,012,911.70 1,000,000.00 928,830.00 2.470 2.030 2.058 08/01/2027 1,217 797356DL3 2602 MUN San Diego Unified Sch District 10/21/2021 1,008,847.08 1,000,000.00 840,480.00 1.984 1.824 1.850 07/01/2031 2,647 797356DL3 2606 MUN San Diego Unified Sch District 10/23/2021 895,959.29 900,000.00 756,432.00 1.984 2.024 2.053 07/01/2031 2,647 797356DH2 2617 MUN San Diego Unified Sch District 11/17/2021 268,518.45 270,000.00 234,146.70 1.599 1.712 1.736 07/01/2028 1,552 797356DF6 2693 MUN San Diego Unified Sch District 09/23/2022 244,380.24 260,000.00 240,695.00 1.201 4.053 4.110 07/01/2026 821 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 31 1 Packet Pg. 174 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 21 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Municipal Bonds 797356DH2 2767 MUN San Diego Unified Sch District 12/16/2022 898,812.93 1,000,000.00 867,210.00 1.599 4.241 4.300 07/01/2028 1,552 797272QS3 2550 MUN San Diego Community College Di 07/09/2021 266,394.36 255,000.00 238,600.95 2.407 1.007 1.021 08/01/2027 1,217 797272RN3 2639 MUN San Diego Community College Di 12/28/2021 1,990,524.54 1,980,000.00 1,841,004.00 1.445 1.193 1.210 08/01/2026 852 797272RTO 2651 MUN San Diego Community College Di 01/10/2022 498,776.29 500,000.00 424,675.00 2.113 2.120 2.150 08/01/2031 2,678 797400MR6 2632 MUN San Diego Regl Trans Commissio 12/08/2021 198,937.68 200,000.00 186,064.00 1.036 1.292 1.310 04/01/2026 730 797412DNO 2580 MUN San Diego Cnty Wtr Authority 09/17/2021 876,262.02 875,000.00 809,900.00 0.971 0.887 0.900 05/01/2026 760 797412DM2 2600 MUN San Diego Cnty WtrAuthority 10/08/2021 209,760.62 210,000.00 200,321.10 0.743 0.838 0.850 05/01/2025 395 797412DNO 2604 MUN San Diego Cnty Wtr Authority 10/20/2021 249,092.96 250,000.00 231,400.00 0.971 1.134 1.150 05/01/2026 760 797412DNO 2623 MUN San Diego Cnty Wtr Authority 11/19/2021 745,017.56 750,000.00 694,200.00 0.971 1.282 1.300 05/01/2026 760 797412DQ3 2688 MUN San Diego Cnty Wtr Authority 09/12/2022 1,151,672.69 1,275,000.00 1,126,003.50 1.331 3.945 4.000 05/01/2028 1,491 797412DR1 2716 MUN San Diego Cnty Wtr Authority 10/24/2022 189,253.01 225,000.00 194,058.00 1.431 5.079 5.150 05/01/2029 1,856 797412DNO 2993 MUN San Diego Cnty Wtr Authority 03/23/2024 411,647.02 445,000.00 411,892.00 0.971 4.590 4.653 05/01/2026 760 797412DM2 3024 MUN San Diego Cnty WtrAuthority 03/22/2024 712,566.17 745,000.00 710,662.95 0.743 4.853 4.920 05/01/2025 395 797508JW9 2536 MUN San Dieguito Union High Sch Di 06/09/2021 430,000.00 430,000.00 396,331.00 1.074 1.059 1.074 08/01/2026 852 797508JX7 2537 MUN San Dieguito Union High Sch Di 06/09/2021 435,000.00 435,000.00 393,253.05 1.372 1.353 1.372 08/01/2027 1,217 797508HF8 2674 MUN San Dieguito Union High Sch Di 03/11/2022 432,691.97 435,000.00 408,404.10 1.860 2.070 2.099 08/01/2026 852 817409N35 2320 MUN Sequoia Union High School Dist 03/18/2020 401,607.99 400,000.00 384,736.00 1.735 1.381 1.400 07/01/2025 456 817409N76 2531 MUN Sequoia Union High School Dist 04/30/2021 255,141.11 250,000.00 223,602.50 2.103 1.658 1.681 07/01/2029 1,917 797646NC6 1509 MUN City & County of San Francisco 11/27/2015 1,024,242.40 1,000,000.00 1,001,760.00 5.450 3.067 3.110 06/15/2025 440 797646T48 1711 MUN City & County of San Francisco 11/01/2016 2,105,912.39 2,105,000.00 2,038,271.50 2.290 2.219 2.249 06/15/2025 440 797646T55 1712 MUN City & County of San Francisco 11/01/2016 244,902.85 245,000.00 233,188.55 2.390 2.376 2.410 06/15/2026 805 797646T48 1839 MUN City & County of San Francisco 07/14/2017 228,933.18 230,000.00 222,709.00 2.290 2.682 2.720 06/15/2025 440 797646ND4 2014 MUN City & County of San Francisco 01/16/2019 1,481,924.80 1,420,000.00 1,438,076.60 5.600 3.304 3.350 06/15/2026 805 7976466C5 2148 MUN City & County of San Francisco 10/31/2019 1,105,985.25 1,120,000.00 998,222.40 2.100 2.337 2.369 06/15/2029 1,901 7976466F8 2762 MUN City & County of San Francisco 12/14/2022 482,709.30 575,000.00 485,461.00 2.350 4.744 4.810 06/15/2032 2,997 79773KKQ6 2864 MUN City & County of San Francisco 04/11/2023 1,020,487.68 1,000,000.00 1,011,020.00 6.000 4.146 4.203 06/15/2025 440 79773KKT0 2883 MUN City & County of San Francisco 04/21/2023 531,145.61 500,000.00 529,070.00 6.000 4.273 4.332 06/15/2028 1,536 79773KDG6 2910 MUN City & County of San Francisco 10/20/2023 531,883.13 635,000.00 556,736.25 1.784 5.375 5.450 06/15/2029 1,901 79773KKX1 2913 MUN City & County of San Francisco 12/15/2023 327,930.57 305,000.00 332,681.80 6.000 4.803 4.870 06/15/2032 2,997 7976466E1 2934 MUN City & County of San Francisco 01/18/2024 653,555.55 760,000.00 654,519.60 2.300 4.553 4.616 06/15/2031 2,631 7976466G6 2958 MUN City & County of San Francisco 01/31/2024 393,048.90 470,000.00 389,874.40 2.400 4.546 4.610 06/15/2033 3,362 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 32 1 Packet Pg. 175 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 22 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Municipal Bonds 79765D5Y2 2911 MUN City & Cnty of San Francisco 11/07/2023 1,001,642.70 1,000,000.00 1,061,260.00 6.000 5.889 5.971 10/01/2032 3,105 79772EBC2 1937 MUN San Francisco Cmnty Facs Dist 03/02/2018 675,108.70 680,000.00 646,183.60 3.250 3.451 3.499 09/01/2027 1,248 79772ECL1 2132 MUN San Francisco Cmnty Facs Dist 10/11/2019 370,376.91 350,000.00 331,208.50 3.648 2.398 2.431 09/01/2029 1,979 79772ECJ6 2309 MUN San Francisco Cmnty Facs Dist 03/13/2020 137,789.07 130,000.00 124,417.80 3.468 1.577 1.599 09/01/2027 1,248 79772ECF4 2571 MUN San Francisco Cmnty Facs Dist 08/30/2021 302,921.21 300,000.00 296,940.00 3.108 0.741 0.752 09/01/2024 153 79772EDY2 2608 MUN San Francisco Cmnty Facs Dist 11/03/2021 584,622.08 575,000.00 492,982.00 2.591 2.305 2.337 09/01/2031 2,709 79772EDA4 2628 MUN San Francisco Cmnty Facs Dist 11/29/2021 1,318,811.08 1,295,000.00 1,214,697.05 2.236 1.425 1.445 09/01/2026 883 79772EEK1 2946 MUN San Francisco Cmnty Facs Dist 01/24/2024 622,302.99 600,000.00 622,704.00 5.535 4.783 4.850 09/01/2030 2,344 79772EDF3 2973 MUN San Francisco Cmnty Facs Dist 02/13/2024 615,584.73 700,000.00 604,891.00 2.701 4.583 4.647 09/01/2031 2,709 797669ZJ0 2572 MUN SF Bay Area Rapid Transit Dist 09/08/2021 501,912.59 500,000.00 495,950.00 1.971 0.419 0.425 07/01/2024 91 797669ZR2 2636 MUN SF Bay Area Rapid Transit Dist 12/16/2021 508,419.85 480,000.00 422,313.60 2.768 1.846 1.872 07/01/2031 2,647 797669ZR2 2766 MUN SF Bay Area Rapid Transit Dist 12/15/2022 354,349.78 405,000.00 356,327.10 2.768 4.832 4.899 07/01/2031 2,647 826239GD1 2501 MUN Sierra Joint Com. College Dist 03/09/2021 585,000.00 585,000.00 504,129.60 1.445 1.425 1.445 08/01/2029 1,948 826239GD1 2535 MUN Sierra Joint Com. College Dist 05/27/2021 499,086.96 500,000.00 430,880.00 1.445 1.461 1.481 08/01/2029 1,948 82707BDP1 2828 MUN Silicon Valley Clean Water 02/10/2023 223,100.56 245,000.00 220,840.55 1.380 4.301 4.361 08/01/2027 1,217 798306WQ5 2707 MUN San Juan Unified School Dist 10/17/2022 505,200.94 545,000.00 500,598.85 1.201 4.586 4.650 08/01/2026 852 798135E96 2656 MUN City of San Jose 01/28/2022 356,397.63 350,000.00 332,661.00 2.500 1.686 1.710 09/01/2026 883 798153NF5 2622 MUN San Jose Financing Authority 11/18/2021 343,782.21 345,000.00 320,629.20 1.311 1.459 1.480 06/01/2026 791 798189PK6 1966 MUN San Jose Evergreen Cmnty Colll 10/29/2018 315,000.00 315,000.00 307,890.45 3.728 3.676 3.727 09/01/2027 1,248 798189QA7 2105 MUN San Jose Evergreen Cmnty Colll 10/01/2019 500,000.00 500,000.00 460,460.00 2.350 2.317 2.350 08/01/2028 1,583 798186N81 2518 MUN San Jose Unified School Dist. 03/15/2021 997,484.26 1,000,000.00 944,770.00 0.558 0.739 0.750 08/01/2025 487 798186P30 2700 MUN San Jose Unified School Dist. 10/07/2022 865,850.60 990,000.00 868,180.50 1.224 4.487 4.550 08/01/2028 1,583 798186P22 2774 MUN San Jose Unified School Dist. 12/21/2022 763,975.90 850,000.00 760,333.50 1.014 4.341 4.401 08/01/2027 1,217 798186P22 2949 MUN San Jose Unified School Dist. 01/26/2024 178,819.29 200,000.00 178,902.00 1.014 4.421 4.483 08/01/2027 1,217 802309NY6 2706 MUN Santa Maria JT Union High Sch 10/17/2022 424,729.42 455,000.00 423,209.15 1.508 4.586 4.650 08/01/2026 852 802385RC0 2091 MUN Santa Monica Cmnty College Dis 09/05/2019 333,319.44 315,000.00 304,497.90 3.472 1.972 2.000 08/01/2028 1,583 802385RV8 2481 MUN Santa Monica Cmnty College Dis 01/22/2021 575,894.56 570,000.00 486,044.70 1.696 1.499 1.520 08/01/2030 2,313 802385RT3 2482 MUN Santa Monica Cmnty College Dis 01/22/2021 609,857.46 600,000.00 533,640.00 1.496 1.085 1.100 08/01/2028 1,583 802385RS5 2810 MUN Santa Monica Cmnty College Dis 01/23/2023 778,725.31 850,000.00 767,541.50 1.244 3.965 4.020 08/01/2027 1,217 802498VW2 2561 MUN Santa Monica -Malibu USD 08/12/2021 651,412.78 650,000.00 599,482.00 0.989 0.877 0.890 07/01/2026 821 802498ZA6 2637 MUN Santa Monica -Malibu USD 12/20/2021 213,242.93 215,000.00 197,109.85 0.849 1.193 1.210 08/01/2026 852 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 33 1 Packet Pg. 176 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 23 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Municipal Bonds 802498ZF5 2792 MUN Santa Monica -Malibu USD 01/09/2023 670,646.09 825,000.00 675,807.00 1.624 4.694 4.760 08/01/2031 2,678 799038NP5 2521 MUN San Mateo Cnty Comm. College D 04/14/2021 2,000,411.67 2,000,000.00 1,960,980.00 0.500 0.444 0.450 09/01/2024 153 799038NP5 2523 MUN San Mateo Cnty Comm. College D 04/14/2021 1,500,308.75 1,500,000.00 1,470,735.00 0.500 0.444 0.450 09/01/2024 153 799017UW6 1902 MUN San Mateo Foster City SCH Dist 01/16/2018 998,400.33 1,000,000.00 970,700.00 2.699 2.786 2.825 09/01/2025 518 799017UW6 1940 MUN San Mateo Foster City SCH Dist 03/09/2018 996,203.42 1,000,000.00 970,700.00 2.699 2.959 3.000 09/01/2025 518 799017WD6 2153 MUN San Mateo Foster City SCH Dist 11/07/2019 1,346,915.63 1,360,000.00 1,244,549.60 2.237 2.447 2.480 09/01/2028 1,614 799017VM7 2178 MUN San Mateo Foster City SCH Dist 12/11/2019 1,577,307.03 1,565,000.00 1,451,114.95 2.542 2.311 2.343 09/01/2028 1,614 799017XW3 2567 MUN San Mateo Foster City SCH Dist 09/21/2021 500,000.00 500,000.00 458,530.00 0.925 0.912 0.925 09/01/2026 883 799055QV3 2585 MUN San Mateo Foster City SCH Dist 09/27/2021 178,542.67 175,000.00 164,251.50 1.799 0.897 0.910 08/01/2026 852 799055ME5 2591 MUN San Mateo Foster City SCH Dist 09/29/2021 1,280,425.83 1,185,000.00 1,206,401.10 6.000 2.297 2.329 08/01/2026 852 799017WE4 2782 MUN San Mateo Foster City SCH Dist 12/22/2022 377,872.37 425,000.00 383,447.75 2.337 4.685 4.750 09/01/2029 1,979 83412PFQO 2176 MUN Solano Cnty Community Clg Dist 12/09/2019 1,159,817.42 1,150,000.00 1,075,537.50 2.717 2.462 2.496 08/01/2028 1,583 83412PHQ8 2579 MUN Solano Cnty Community Clg Dist 10/06/2021 750,000.00 750,000.00 691,252.50 1.025 1.011 1.025 08/01/2026 852 83412PGZ9 2583 MUN Solano Cnty Community Clg Dist 10/06/2021 200,568.39 200,000.00 184,334.00 1.025 0.887 0.900 08/01/2026 852 83412PHE5 2594 MUN Solano Cnty Community Clg Dist 10/06/2021 387,029.16 390,000.00 325,178.10 1.861 1.948 1.975 08/01/2031 2,678 83412PHU9 2597 MUN Solano Cnty Community Clg Dist 10/06/2021 745,675.18 750,000.00 638,452.50 1.761 1.834 1.860 08/01/2030 2,313 83412PHW5 2598 MUN Solano Cnty Community Clg Dist 10/06/2021 822,565.08 825,000.00 687,876.75 1.861 1.879 1.905 08/01/2031 2,678 83412PHB1 2649 MUN Solano Cnty Community Clg Dist 01/07/2022 345,424.59 350,000.00 310,418.50 1.479 1.775 1.800 08/01/2028 1,583 835569GT5 2577 MUN Sonoma Cnty Jr. College Distr. 09/15/2021 160,626.92 155,000.00 147,346.10 2.447 0.843 0.855 08/01/2026 852 839278JM1 1914 MUN South Pasadena Unified School 02/15/2018 179,482.48 180,000.00 171,423.00 3.000 3.057 3.100 08/01/2027 1,217 839278KC1 2161 MUN South Pasadena Unified School 12/12/2019 410,989.81 370,000.00 378,998.40 5.000 2.598 2.634 08/01/2029 1,948 839278KB3 2162 MUN South Pasadena Unified School 12/12/2019 273,319.72 250,000.00 255,115.00 5.000 2.549 2.584 08/01/2028 1,583 839278KA5 2163 MUN South Pasadena Unified School 12/12/2019 155,772.94 145,000.00 146,954.60 5.000 2.500 2.534 08/01/2027 1,217 839278JZ2 2164 MUN South Pasadena Unified School 12/12/2019 411,647.11 390,000.00 392,464.80 5.000 2.378 2.411 08/01/2026 852 799381AL2 2933 MUN City of San Ramon 01/18/2024 298,786.48 355,000.00 296,499.55 2.460 4.753 4.819 07/01/2032 3,013 799289MR1 2150 MUN San Rafael City High Sch Distr 11/13/2019 1,755,000.00 1,755,000.00 1,735,238.70 1.965 1.938 1.965 08/01/2024 122 7994082K4 2605 MUN San Ramon Vly Unif Sch Dist. 11/03/2021 1,507,322.36 1,500,000.00 1,289,415.00 1.914 1.805 1.830 08/01/2030 2,313 799408Z93 2813 MUN San Ramon Vly Unif Sch Dist. 01/26/2023 873,285.57 935,000.00 860,976.05 1.034 4.044 4.100 08/01/2026 852 867578UT1 2100 MUN Sunnyvale Elementary Sch Distr 09/19/2019 135,000.00 135,000.00 123,033.60 2.190 2.157 2.187 09/01/2028 1,614 867578US3 2101 MUN Sunnyvale Elementary Sch Distr 09/19/2019 135,000.00 135,000.00 124,819.65 2.090 2.061 2.090 09/01/2027 1,248 892404CN2 2493 MUN Tracy Unified School District 02/08/2021 504,666.36 500,000.00 436,670.00 1.644 1.437 1.457 08/01/2029 1,948 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 34 Packet Pg. 177 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 24 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Municipal Bonds 87970GPSO 2539 MUN Temecula Valley Unified School 06/16/2021 250,000.00 250,000.00 221,505.00 1.503 1.482 1.503 08/01/2028 1,583 87970GPQ4 2569 MUN Temecula Valley Unified School 08/27/2021 356,220.37 355,000.00 327,026.00 1.051 0.887 0.900 08/01/2026 852 880541XY8 1673 MUN State of Tennessee 08/25/2016 1,003,502.35 1,000,000.00 945,290.00 2.116 1.923 1.950 08/01/2026 852 880541XX0 1674 MUN State of Tennessee 08/25/2016 1,652,935.43 1,650,000.00 1,590,187.50 2.066 1.893 1.920 08/01/2025 487 880541XX0 1676 MUN State of Tennessee 08/25/2016 701,245.33 700,000.00 674,625.00 2.066 1.893 1.920 08/01/2025 487 880541QU4 2001 MUN State of Tennessee 12/20/2018 205,518.29 205,000.00 203,921.70 3.728 2.860 2.900 08/01/2024 122 891371BB1 2795 MUN City of Torrance JT PWRS Fin A 01/12/2023 375,306.60 445,000.00 377,618.10 2.637 5.001 5.070 06/01/2032 2,983 901072LD8 2715 MUN Tustin Unif Sch Dist Facs Impt 10/24/2022 579,082.24 650,000.00 584,038.00 1.145 4.783 4.850 08/01/2027 1,217 901072MB1 2758 MUN Tustin Unif Sch Dist Facs Impt 12/09/2022 166,703.84 205,000.00 170,143.85 1.754 4.843 4.910 08/01/2031 2,678 901072LX4 2814 MUN Tustin Unif Sch Dist Facs Impt 01/26/2023 454,680.62 500,000.00 449,260.00 1.145 4.098 4.155 08/01/2027 1,217 8827237P8 2195 MUN State of Texas 12/23/2019 1,522,148.32 1,500,000.00 1,459,770.00 3.051 1.975 2.003 10/01/2025 548 8827237TO 2225 MUN State of Texas 01/30/2020 1,000,150.82 940,000.00 896,543.80 3.521 2.191 2.221 10/01/2029 2,009 8827237TO 2255 MUN State of Texas 02/14/2020 1,345,913.30 1,265,000.00 1,206,519.05 3.521 2.192 2.222 10/01/2029 2,009 8827237N3 2311 MUN State of Texas 03/16/2020 251,999.82 250,000.00 246,955.00 2.899 1.231 1.248 10/01/2024 183 8827235K1 2541 MUN State of Texas 06/30/2021 253,221.44 245,000.00 237,978.30 2.922 0.641 0.650 10/01/2025 548 882724RF6 2548 MUN State of Texas 07/02/2021 1,055,930.85 1,000,000.00 887,610.00 2.426 1.480 1.501 10/01/2030 2,374 882723A90 2631 MUN State of Texas 12/07/2021 513,095.20 500,000.00 485,720.00 2.831 1.030 1.045 10/01/2025 548 882724U47 2957 MUN State of Texas 01/30/2024 297,223.00 295,000.00 298,958.90 4.700 4.536 4.599 10/01/2033 3,470 91412GQG3 2077 MUN University of California 08/26/2019 1,517,308.82 1,500,000.00 1,467,075.00 3.050 1.930 1.957 05/15/2025 409 91412GQG3 2095 MUN University of California 09/09/2019 1,013,032.26 1,000,000.00 978,050.00 3.050 1.797 1.821 05/15/2025 409 91412HGF4 2685 MUN University of California 04/05/2022 417,852.31 440,000.00 398,662.00 1.316 3.028 3.070 05/15/2027 1,139 91412HJN4 2866 MUN University of California 04/05/2023 209,824.96 230,000.00 207,975.20 1.272 4.311 4.371 05/15/2027 1,139 91412HGG2 2996 MUN University of California 02/26/2024 626,629.30 745,000.00 628,496.90 1.614 4.566 4.630 05/15/2030 2,235 916544ET2 2982 MUN Upper Santa Clara Valley Water 02/20/2024 409,163.19 415,000.00 408,737.65 0.827 5.070 5.141 08/01/2024 122 917542QR6 1731 MUN State of Utah 01/04/2017 165,591.74 165,000.00 164,445.60 4.554 2.904 2.944 07/01/2024 91 917542QV7 2306 MUN State of Utah 03/13/2020 711,584.99 698,684.05 689,796.79 3.539 1.948 1.975 07/01/2025 456 93974CRC6 1802 MUN State of Washington 05/23/2017 488,270.04 485,000.00 483,758.40 4.669 2.416 2.450 08/01/2024 122 93974CRC6 2196 MUN State of Washington 12/24/2019 504,219.55 500,000.00 498,720.00 4.669 1.978 2.005 08/01/2024 122 93974CPL8 2975 MUN State of Washington 02/14/2024 642,167.26 625,000.00 625,443.75 5.381 4.723 4.789 08/01/2029 1,948 97705MNU5 2547 MUN State of Wisconsin 07/02/2021 2,114,537.44 2,000,000.00 1,756,740.00 2.451 1.553 1.575 05/01/2031 2,586 97705MNP6 2574 MUN State of Wisconsin 09/09/2021 1,541,043.66 1,500,000.00 1,423,500.00 2.089 0.739 0.750 05/01/2026 760 Run Date: 04/29/2024 - 12:45 Portfolio CPA AP El (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 35 1 Packet Pg. 178 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 25 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Municipal Bonds 97705MNP6 2576 MUN State of Wisconsin 09/13/2021 1,026,726.62 1,000,000.00 949,000.00 2.089 0.769 0.780 05/01/2026 760 977100ACO 2822 MUN State of Wisconsin 2 01/30/2023 874,650.92 865,000.00 870,345.70 5.700 5.039 5.109 05/01/2026 760 987388GX7 2657 MUN Yosemite Community College Dis 02/17/2022 1,000,000.00 1,000,000.00 927,210.00 2.082 2.053 2.082 08/01/2027 1,217 987388GX7 2687 MUN Yosemite Community College Dis 09/02/2022 472,662.52 500,000.00 463,605.00 2.082 3.846 3.900 08/01/2027 1,217 Subtotal and Average 250,961,956.36 253,738,684.05 237,652,532.64 2.721 2.759 1,387 Supranationals (World Bank) Bonds 4581X0DV7 2528 IADB Inter -American Dev. Bank 04/20/2021 1,998,070.39 2,000,000.00 1,851,680.00 0.875 0.910 0.923 04/20/2026 749 45818WDH6 2586 IADB Inter -American Dev. Bank 09/27/2021 1,994,507.85 2,000,000.00 1,828,000.00 0.800 0.914 0.927 06/17/2026 807 4581XOEBO 2652 IADB Inter -American Dev. Bank 01/13/2022 999,320.87 1,000,000.00 921,330.00 1.500 1.504 1.525 01/13/2027 1,017 4581XOEBO 2655 IADB Inter -American Dev. Bank 01/14/2022 998,930.61 1,000,000.00 921,330.00 1.500 1.518 1.540 01/13/2027 1,017 4581X0EK0 2922 IADB Inter -American Dev. Bank 01/08/2024 1,004,482.98 1,000,000.00 995,900.00 4.500 4.214 4.273 05/15/2026 774 4581X0EN4 2987 IADB Inter -American Dev. Bank 02/22/2024 993,152.26 1,000,000.00 990,400.00 4.125 4.222 4.281 02/15/2029 1,781 459058JL8 2470 IBRD Intl Bk Recon & Development 01/08/2021 1,500,293.99 1,500,000.00 1,402,995.00 0.500 0.480 0.487 10/28/2025 575 459058JS3 2492 IBRD Intl Bk Recon & Development 02/10/2021 1,500,000.00 1,500,000.00 1,389,495.00 0.650 0.641 0.650 02/10/2026 680 45905U5Y6 2497 IBRD Intl Bk Recon & Development 02/18/2021 1,500,000.00 1,500,000.00 1,388,220.00 0.600 0.591 0.600 02/18/2026 688 459058JL8 2498 IBRD Intl Bk Recon & Development 02/18/2021 1,497,673.45 1,500,000.00 1,402,995.00 0.500 0.591 0.600 10/28/2025 575 459058JL8 2510 IBRD Intl Bk Recon & Development 03/01/2021 1,493,097.61 1,500,000.00 1,402,995.00 0.500 0.787 0.798 10/28/2025 575 459058JS3 2534 IBRD Intl Bk Recon & Development 05/26/2021 1,494,680.98 1,500,000.00 1,389,495.00 0.650 0.833 0.845 02/10/2026 680 459058JS3 2553 IBRD Intl Bk Recon & Development 07/15/2021 1,494,509.73 1,500,000.00 1,389,495.00 0.650 0.839 0.851 02/10/2026 680 459058JS3 2559 IBRD Intl Bk Recon & Development 08/12/2021 1,493,640.99 1,500,000.00 1,389,495.00 0.650 0.871 0.883 02/10/2026 680 45906M2L4 2650 IBRD Intl Bk Recon & Development 01/07/2022 986,450.24 1,000,000.00 923,230.00 0.650 1.368 1.387 02/24/2026 694 45906M2Z3 2673 IBRD Intl Bk Recon & Development 03/17/2022 999,199.07 1,000,000.00 966,860.00 2.050 2.107 2.136 03/17/2025 350 45906M3K5 2735 IBRD Intl Bk Recon & Development 11/22/2022 1,984,514.59 2,000,000.00 1,952,440.00 4.500 4.684 4.749 09/30/2027 1,277 45906M2L4 2736 IBRD Intl Bk Recon & Development 11/23/2022 932,049.96 1,000,000.00 923,230.00 0.650 4.480 4.542 02/24/2026 694 45906M3K5 2744 IBRD Intl Bk Recon & Development 12/01/2022 1,488,488.73 1,500,000.00 1,464,330.00 4.500 4.681 4.746 09/30/2027 1,277 459058JN4 2775 IBRD Intl Bk Recon & Development 12/21/2022 897,591.92 1,000,000.00 875,920.00 0.750 3.807 3.860 11/24/2027 1,332 459058JT1 2779 IBRD Intl Bk Recon & Development 12/22/2022 1,365,785.00 1,500,000.00 1,336,080.00 0.850 4.241 4.300 02/10/2027 1,045 459058JT1 2826 IBRD Intl Bk Recon & Development 02/10/2023 1,362,896.47 1,500,000.00 1,336,080.00 0.850 4.310 4.370 02/10/2027 1,045 459058KW2 2912 IBRD Intl Bk Recon & Development 10/27/2023 984,345.39 1,000,000.00 1,010,220.00 4.625 4.967 5.036 08/01/2028 1,583 459058KT9 2921 IBRD Intl Bk Recon & Development 01/08/2024 977,530.25 1,000,000.00 966,360.00 3.500 4.024 4.079 07/12/2028 1,563 459058KW2 2950 IBRD Intl Bk Recon & Development 01/26/2024 1,017,803.20 1,000,000.00 1,010,220.00 4.625 4.112 4.169 08/01/2028 1,583 Portfolio CPA AP Run Date: 04/29/2024 - 12:45 Fl (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 36 Packet Pg. 179 of 254 Item 13 Attachment B - Investment Portfolio Fund ALL - Portfolio Listings Investments by Fund March 31, 2024 Page 26 Purchase Current YTM YTM Maturity Days To CUSIP Investment # Issuer Date Book Value Par Value Market Value Rate 360 365 Date Maturity Supranationals (World Bank) Bonds 45906M5A5 3003 IBRD Intl Bk Recon & Development 03/05/2024 1,500,000.00 1,500,000.00 1,501,860.00 5.500 5.424 5.500 03/05/2029 1,799 45950VPE0 2441 IFC International Finance Corp. 10/30/2020 1,000,000.00 1,000,000.00 937,460.00 0.350 0.306 0.310 10/15/2025 562 45950VPH3 2454 IFC International Finance Corp. 11/30/2020 1,500,000.00 1,500,000.00 1,413,825.00 0.350 0.296 0.300 11/15/2025 593 45950VPJ9 2483 IFC International Finance Corp. 01/25/2021 1,501,888.83 1,500,000.00 1,390,350.00 0.580 0.501 0.508 01/15/2026 654 45950VPJ9 2502 IFC International Finance Corp. 02/11/2021 1,501,317.77 1,500,000.00 1,390,350.00 0.580 0.522 0.530 01/15/2026 654 45950VPS9 2503 IFC International Finance Corp. 02/26/2021 1,496,492.85 1,500,000.00 1,381,335.00 0.500 0.616 0.625 02/26/2026 696 45950VPT7 2514 IFC International Finance Corp. 03/15/2021 2,000,000.00 2,000,000.00 1,852,660.00 0.625 0.554 0.562 03/15/2026 713 45950VPU4 2515 IFC International Finance Corp. 03/23/2021 1,499,786.40 1,500,000.00 1,383,990.00 0.750 0.746 0.757 03/23/2026 721 45950VPU4 2517 IFC International Finance Corp. 03/23/2021 1,994,201.16 2,000,000.00 1,845,320.00 0.750 0.887 0.900 03/23/2026 721 45950VPY6 2532 IFC International Finance Corp. 05/28/2021 1,500,000.00 1,500,000.00 1,395,195.00 0.750 0.642 0.651 05/15/2026 774 45950KCX6 2654 IFC International Finance Corp. 01/12/2022 980,873.07 1,000,000.00 910,170.00 0.750 1.518 1.540 10/08/2026 920 Run Date: 04/29/2024 - 12:45 Subtotal and Average 49,433,576.61 50,000,000.00 46,831,310.00 1.888 1.914 877 Total Investments and Average 630,727,912.47 634,272,883.10 591,028,874.09 2.485 2.520 1,235 Portfolio CPA AP Fl (PRF_FI) 7.3.11 Report Ver. 7.3.11 Item 13: Staff Report Pg. 37 Packet Pg. 180 of 254 Item 13 Attachment C - Investment Portfolio t C Compliance Investment Policy Compliance As of March 31, 2024 Compliance Investment Policy Requirements Check / Actual General Investment Guidelines: Full Compliance a) The max. stated final maturity of individual securities in the portfolio should be 10 years. b) A max. of 30 percent of the par value of the portfolio shall be invested in securities with maturities 29.3% beyond 5 years. c) The City shall maintain a minimum of one month's cash needs in short term investments. d) At least $50 million shall be maintained in securities maturing in less than 2 years. $206.2 million Plus two managed pool accounts which provide instant liquidity: Local Agency Investment Fund (LAIF) - maximum investment limit i�75 million $28 million Fidelity Investments $15.5 million e) Should market value of the portfolio fall below95 percent of the book value, report this fact within a 93.7% reasonable time to the City Council and evaluate if there are risk of holding securities to maturity. d) Commitments to purchase securities newly introduced on the market shall be made no more than three (3) working days before pricing. f) Whenever possible, the City will obtain three or more quotations on the purchase or sale of comparable securities (excludes new issues, LAIF, City of Palo Alto bonds, money market accounts, and mutual funds). 2 U.S. Government Securities: Full Compliance a) There is no limit on purchase of these securities. b) Securities will not exceed 10 years maturity. 1.10% 3 U.S. Government Agency Securities: Full Compliance a) There is no limit on purchase of these securities except for: Callable and Multi -step-up securities provided that: The potential call dates are known at the time of purchase; the interest rates at which they "step-up" are known at the time of purchase; and the entire face value of the security is redeemed at the call date. No more than 25 percent of the par value of portfolio. 24.86% b) Securities will not exceed 10 years maturity. 4 California State, California Local Government Agencies, and other United States State Bonds: Full Compliance a) Having at time of investment a minimum Double A (AA/Aa2) rating as provided by a nationally recognized rating service (e.g., Moody's, Fitch, and/or Standard and Poor's). b) May not exceed 40 percent of the par value of the portfolio. 40.00% 5 Certificates of Deposit (CD): Full Compliance a) May not exceed 20 percent of the par value of the portfolio; None Held b) No more than 10 percent of the par value of the portfolio in collateralized CDs in any institution. c) Purchase collateralized deposits only from federally insured large banks that are rated by a nationally recognized rating agency (e.g. Moody's, Fitch, and/or Standard & Poor's). d) For non -rated banks, deposit should be limited to amounts federally insured (FDIC) e) Rollovers are not permitted without specific instruction from authorized City staff. 6 Banker's Acceptance Notes (BA): Full Compliance a) No more than 30 percent of the par value of the portfolio. None Held b) Not to exceed 180 days maturity. c) No more than $5 million with any one institution. Item 13: Staff Report Pg. 38 Packet Pg. 181 of 254 Item 13 Attachment C - Investment Portfolio t C Compliance Investment Policy Compliance As of March 31, 2024 Compliance Investment Policy Requirements Check / Actual 7 Commercial Paper: Full Compliance a) No more than 15 percent of the par value of the portfolio. None Held b) Having highest letter or numerical rating from a nationally recognized rating service. c) Not to exceed 270 days maturity. d) No more than $3 million or 10 percent of the outstanding commercial paper of any one institution, whichever is lesser. 8 Short -Term Repurchase Agreement (REPO): Full Compliance a) Not to exceed 1 year. None Held b) Market value of securities that underlay a repurchase agreement shall be valued at 102 percent or greater of the funds borrowed against those securities. 9 Money Market Deposit Accounts Full Compliance a) Liquid bank accounts which seek to maintain a net asset value of $1.00. 10 Mutual Funds: Full Compliance a) No more than 20 percent of the par value of the portfolio. None Held b) No more than 10 percent of the par value with any one institution. 11 Negotiable Certificates of Deposit (NCD): Full Compliance a) No more than 20 percent of the par value of the portfolio. 7.95% b) No more than $5 million in any one institution. Federally Insured 12 Medium -Term Corporate Notes: Full Compliance a) No more than 10 percent of the par value of the portfolio. 4.65% b) Not to exceed 5 years maturity. c) Securities eligible for investment shall have a minimum rating of AA or Aa2 from a nationally recognized rating service. d) No more than $5 million of the par value may be invested in securities of any single issuer, other than the U.S. Government, its agencies and instrumentality. e) If securities owned by the City are downgraded by either rating agencies to a level below AA it shall be the City's policy to review the credit situation and make a determination as to whether to sell or retain such securities. 13 Supranational Organizations Securities: Full Compliance a) Securities will not exceed 5 years maturity b) No more than 20 percent of the par value of the portfolio. 7.88% c) No more than 10 percent in any one institution. Full Compliance d) Securities eligible for investment shall have a minimum rating of AA or Aa2 from a nationally recognized rating service. 14 Prohibited Investments: Full Compliance a) Reverse Repurchase Agreements None Held b) Derivatives as defined in Appendix B of the Investment Policy 15 All securities shall be delivered to the City's safekeeping custodian, and held in the name of the Full Compliance City, with the exception of : - Certificates of Deposit, Mutual Funds, and Local Agency Investment Fund (LAIF) Item 13: Staff Report Pg. 39 Packet Pg. 182 of 254 Item 13 Attachment D - Investment Activities in the Report Period Attachment D City of Palo Alto Investments Activities in Quarter Ending March 31, 2024 Per California Government Code Section 53607, a report of transactions (investments, reinvestment, sold, and exchanged securities) is being made during the report period to the Council. Investment Current YTM YTM Maturity Days To CUSIP # Type Issuer Purchase Date Book Value Par Value Market Value Rate 360 365 Date Maturity 796720ND8 2920 MUN Di 01/04/24 921,076.23 1,000,000.00 919,360.00 2.640 4.26 4.32 08/01/29 1,948 459058KT9 2921 IBRD Intl Bk Recon & Development 01/08/24 977,530.25 1,000,000.00 966,360.00 3.500 4.02 4.08 07/12/28 1,563 4581X0EK0 2922 IADB Inter -American Dev. Bank 01/08/24 1,004,482.98 1,000,000.00 995,900.00 4.5 4.21 4.27 05/15/26 774 17131 RAZ9 2923 MUN City of Chula Vista 01/10/24 821,377.90 1,000,000.00 824,820.00 1.828 4.75 4.82 06/01/31 2,617 64017ABE3 2924 NCD Neighbors Fed Credit Union Bk 01/19/24 249,000.00 249,000.00 247,304.31 5.300 5.23 5.31 01/19/29 1,754 010878BJ4 2925 MUN County of Alameda 01/16/24 1,208,732.48 1,250,000.00 1,190,212.50 3.649 4.19 4.25 08/01/30 2,313 419792YW0 2926 MUN State of Hawaii 01/16/24 823,776.35 1,000,000.00 811,340.00 1.595 4.39 4.45 08/01/31 2,678 562784AL2 2927 MUN City of Manhattan Beach 01/16/24 343,918.90 400,000.00 346,380.00 2.241 4.64 4.70 01/01/31 2,466 61255QAM8 2928 MUN City of Monterey 01/16/24 453,226.67 560,000.00 445,922.40 2.193 4.73 4.80 06/01/33 3,348 98426AAC1 2929 NCD Y-12 Federal Credit Union Bank 01/29/24 249,000.00 249,000.00 249,119.52 5.250 5.18 5.25 01/28/28 1,397 562784AK4 2930 MUN City of Manhattan Beach 01/17/24 351,011.29 400,000.00 352,448.00 2.141 4.54 4.60 01/01/30 2,101 419792M78 2931 MUN State of Hawaii 01/17/24 1,190,980.32 1,165,000.00 1,181,741.05 4.821 4.44 4.50 10/01/32 3,105 801139AK2 2932 MUN City of Santa Ana 01/18/24 424,045.26 500,000.00 418,645.00 2.189 4.61 4.67 08/01/31 2,678 799381AL2 2933 MUN City of San Ramon 01/18/24 298,786.48 355,000.00 296,499.55 2.46 4.75 4.82 07/01/32 3,013 7976466E1 2934 MUN City & County of San Francisco 01/18/24 653,555.55 760,000.00 654,519.60 2.3 4.55 4.62 06/15/31 2,631 3133EPX75 2935 Call Federal Farm Credit Bank . 01/24/24 1,000,000.00 1,000,000.00 998,170.00 5.85 5.77 5.85 01/24/33 3,220 76886PJS3 2936 MUN Riverside Cmnty College Distt. 01/19/24 104,120.67 120,000.00 105,069.60 1.785 4.56 4.63 08/01/29 1,948 710253AU9 2937 NCD Peoples Bank - Clive IA 01/22/24 249,000.00 249,000.00 248,775.90 4.850 4.85 4.85 01/22/26 661 671082CN3 2938 NCD Oak Bank 01/19/24 249,000.00 249,000.00 249,067.23 4.800 4.74 4.80 01/19/27 1,023 27889MAC4 2939 NCD Eclipse Bank, Inc. 02/02/24 249,000.00 249,000.00 247,929.30 5.000 4.94 5.00 02/02/27 1,037 33651FAL3 2940 NCD First Source Federal Cr Union 01/29/24 249,000.00 249,000.00 248,706.18 5.050 4.98 5.05 01/29/25 303 503433AT1 2941 MUN City of La Habra 01/22/24 441,281.99 500,000.00 440,930.00 2.573 4.69 4.75 08/01/30 2,313 77781 RCW1 2942 MUN City of Roseville Electric Sys 01/24/24 395,956.53 470,000.00 394,024.50 1.831 4.49 4.55 02/01/31 2,497 21969AAH5 2943 MUN City of Corona 01/24/24 884,575.91 1,000,000.00 880,340.00 2.042 4.56 4.63 05/01/29 1,856 13067WRK0 2944 MUN CA ST Dept of WTR Resources 01/24/24 176,789.54 225,000.00 178,022.25 1.609 4.59 4.65 12/01/32 3,166 15568PAV8 2945 NCD Central Valley Community Bank 01/30/24 249,000.00 249,000.00 247,301.82 4.9 4.84 4.90 01/29/27 1,033 79772EEK1 2946 MUN San Francisco Cmnty Facs Dist 01/24/24 622,302.99 600,000.00 622,704.00 5.535 4.78 4.85 09/01/30 2,344 54473ENT7 2947 MUN City of Los Angeles Fin Author 01/25/24 1,119,649.74 1,000,000.00 1,121,440.00 7.488 5.72 5.80 08/01/33 3,409 419792M86 2948 MUN State of Hawaii 01/25/24 1,092,960.64 1,075,000.00 1,089,759.75 4.841 4.56 4.62 10/01/33 3,470 798186P22 2949 MUN San Jose Unified School Dist. 01/26/24 178,819.29 200,000.00 178,902.00 1.014 4.42 4.48 08/01/27 1,217 459058KW2 2950 IBRD Intl Bk Recon & Development 01/26/24 1,017,803.20 1,000,000.00 1,010,220.00 4.625 4.11 4.17 08/01/28 1,583 300498AV4 2951 NCD Evolve Bank & Trust 02/02/24 249,000.00 249,000.00 247,070.25 4.400 4.40 4.40 02/02/26 672 419792M78 2952 MUN State of Hawaii 01/29/24 1,276,821.56 1,255,000.00 1,273,034.35 4.821 4.51 4.57 10/01/32 3,105 Item 13: Staff Report Pg. 40 Packet Pg. 183 of 254 Item 13 Attachment D - Investment Activities in the Report Period Investment Current YTM YTM Maturity Days To CUSIP # Type Issuer Purchase Date Book Value Par Value Market Value Rate 360 365 Date Maturity 373384X76 2953 MUN State of Georgia 01/29/24 960,757.30 1,000,000.00 943,590.00 4 4.44 4.50 02/01/34 3,593 32022WCZ7 2954 NCD First Federal Bank 02/02/24 249,000.00 249,000.00 247,964.16 5.000 4.94 5.00 02/02/27 1,037 62835RCA7 2955 NCD Mutual Savings Assoc Bank 01/31/24 249,000.00 249,000.00 246,328.23 4.900 4.84 4.90 01/31/29 1,766 373384X76 2956 MUN State of Georgia 01/30/24 1,200,933.00 1,250,000.00 1,179,487.50 4 4.44 4.50 02/01/34 3,593 882724U47 2957 MUN State of Texas 01/30/24 297,223.00 295,000.00 298,958.90 4.7 4.54 4.60 10/01/33 3,470 7976466G6 2958 MUN City & County of San Francisco 01/31/24 393,048.90 470,000.00 389,874.40 2.4 4.55 4.61 06/15/33 3,362 05988ACT7 2959 NCD BANESCO USA Bank 02/14/24 249,000.00 249,000.00 249,144.42 4.950 4.88 4.95 08/14/26 865 59319LAS4 2960 NCD Ml Bank 02/01/24 249,000.00 249,000.00 245,939.79 4.750 4.68 4.75 08/02/27 1,218 33743UAB2 2961 NCD FTSB Wheatland Bank 02/09/24 249,000.00 249,000.00 250,237.53 4.900 4.84 4.90 02/09/29 1,775 06051V7Z3 2962 NCD Bank of America 02/07/24 249,000.00 249,000.00 247,032.90 4.850 4.79 4.85 02/08/27 1,043 3130AYV45 2963 Call Federal Home Loan Bank 02/21/24 1,500,000.00 1,500,000.00 1,495,545.00 6 5.92 6.00 02/14/34 3,606 562784AM05 2964 MUN City of Manhattan Beach 02/12/24 1,068,110.71 1,250,000.00 1,061,799.24 2.341 4.54 4.60 01/01/32 2,831 13934CBL0 2965 NCD Bank 02/22/24 249,000.00 249,000.00 248,046.33 5.050 02/22/28 1,422 89846HCR2 2966 NCD Truxton Trust Co Bank 02/23/24 249,000.00 249,000.00 247,349.13 5.000 4.94 5.00 02/23/29 1,789 21969AAH5 2967 MUN City of Corona 02/12/24 285,640.15 325,000.00 286,110.50 2.042 4.69 4.76 05/01/29 1,856 223047AG6 2968 MUN City of Covina 02/12/24 354,473.98 400,000.00 353,008.00 1.767 4.65 4.71 08/01/28 1,583 85440KAC8 2969 MTN Stanford University 02/12/24 908,531.54 1,000,000.00 900,120.00 1.289 4.36 4.42 06/01/27 1,156 3130AYWY8 2970 Call Federal Home Loan Bank 02/09/24 1,000,000.00 1,000,000.00 998,490.00 6 5.92 6.00 02/09/34 3,601 65504UAB3 2971 NCD Noble Federal Credit Union Bk 02/23/24 249,000.00 249,000.00 248,982.57 5.200 5.13 5.20 02/23/29 1,789 562784AM05 2972 MUN City of Manhattan Beach 02/13/24 341,790.94 400,000.00 339,775.76 2.341 4.54 4.60 01/01/32 2,831 79772EDF3 2973 MUN San Francisco Cmnty Facs Dist 02/13/24 615,584.73 700,000.00 604,891.00 2.701 4.58 4.65 09/01/31 2,709 219873AA4 2974 NCD Corp America Family Cr. Union 02/23/24 249,000.00 249,000.00 249,221.61 5.250 4.85 4.92 02/21/25 326 93974CPL8 2975 MUN State of Washington 02/14/24 642,167.26 625,000.00 625,443.75 5.381 4.72 4.79 08/01/29 1,948 03444RAB4 2976 MTN Andrew W Mellon Foundation 02/14/24 892,875.70 1,000,000.00 887,140.00 0.947 4.39 4.45 08/01/27 1,217 68607LXQ5 2977 MUN State of Oregon 02/15/24 1,021,271.67 1,000,000.00 1,015,950.00 5.892 5.08 5.15 06/01/27 1,156 260888AJ1 2978 MUN City of Downey 02/15/24 152,339.67 185,000.00 151,957.15 1.950 4.84 4.91 06/01/31 2,617 531194AJ7 2979 NCD Liberty Savings Bank 02/21/24 249,000.00 249,000.00 250,172.79 4.850 4.79 4.86 02/21/29 1,787 3130AYYH3 2980 Call Federal Home Loan Bank 02/15/24 1,000,000.00 1,000,000.00 999,380.00 6 5.92 6.00 02/15/34 3,607 373384TP1 2981 MUN State of Georgia 02/16/24 992,418.18 1,000,000.00 988,820.00 4.150 4.71 4.78 07/01/25 456 916544ET2 2982 MUN Upper Santa Clara Valley Water 02/20/24 409,163.19 415,000.00 408,737.65 0.827 5.07 5.14 08/01/24 122 759701BW4 2983 NCD RenasantBank 02/23/24 249,000.00 249,000.00 247,891.95 5.000 4.93 5.00 02/23/27 1,058 028402CW3 2984 NCD American National Bank Omaha 02/28/24 249,000.00 249,000.00 249,562.74 4.900 4.84 4.90 02/26/27 1,061 57582PUD0 2985 MUN State of Massachusetts 02/21/24 1,029,586.71 1,000,000.00 1,008,000.00 5.306 4.65 4.71 01/01/30 2,101 591803CJ8 2986 NCD Metropolitan Capital Bank 02/26/24 249,000.00 249,000.00 248,148.42 5.050 4.98 5.05 02/28/28 1,428 4581X0EN4 2987 IADB Inter -American Dev. Bank 02/22/24 993,152.26 1,000,000.00 990,400.00 4.125 4.22 4.28 02/15/29 1,781 3130ATS57 2988 Federal Home Loan Bank 02/21/24 614,746.21 610,000.00 612,610.80 4.500 4.22 4.28 03/10/28 1,439 369674CS3 2989 NCD General Electric Credit Union 02/28/24 249,000.00 249,000.00 248,691.24 4.600 4.54 4.60 03/01/27 1,064 223047AH4 2990 MUN City of Covina 02/23/24 861,344.23 1,000,000.00 865,710.00 1.916 4.84 4.91 08/01/29 1,948 064577GH6 2991 NCD Bank Rhode Island 02/28/24 249,000.00 249,000.00 248,810.76 5.050 4.98 5.05 02/28/25 333 90355GLE4 2992 NCD UBS Financial Services, Inc. 02/28/24 249,000.00 249,000.00 248,716.14 4.600 4.54 4.60 03/01/27 1,064 Item 13: Staff Report Pg. 41 Packet Pg. 184 of 254 Item 13 Attachment D - Investment Activities in the Report Period Investment Current YTM YTM Maturity Days To CUSIP # Type Issuer Purchase Date Book Value Par Value Market Value Rate 360 365 Date Maturity 797412DN0 2993 MUN San Diego Cnty Wtr Authority 03/23/24 411,647.02 445,000.00 411,892.00 0.971 4.59 4.65 05/01/26 760 57582PUD0 2994 MUN State of Massachusetts 02/23/24 1,028,072.27 1,000,000.00 1,008,000.00 5.306 4.68 4.74 01/01/30 2,101 46117YAC2 2995 NCD Intracoastal Bank 03/06/24 249,000.00 249,000.00 247,242.06 5.000 4.93 5.00 03/06/29 1,800 91412HGG2 2996 MUN University of California 02/26/24 626,629.30 745,000.00 628,496.90 1.614 4.57 4.63 05/15/30 2,235 033537BC4 2997 NCD Anderson Bros Bank 03/08/24 249,000.00 249,000.00 249,194.22 5.100 5.03 5.10 06/09/25 434 90355UCX1 2998 NCD U.S. Bank 03/06/24 249,000.00 249,000.00 248,096.13 5.250 03/06/29 1,800 3134H1TP8 2999 Call Fed. Home Loan Mortgage Corp 02/27/24 1,500,000.00 1,500,000.00 1,497,915.00 6 5.92 6.00 02/21/34 3,613 30053QAA3 3000 NCD Evolve Federal Cr Union Bank 03/12/24 249,000.00 249,000.00 248,419.83 5.100 5.03 5.10 03/12/29 1,806 05028XAH7 3001 MUN City of Auburn 03/01/24 382,389.09 445,000.00 384,564.55 2.206 4.81 4.88 06/01/30 2,252 05028XAG9 3002 MUN City of Auburn 03/01/24 232,126.96 265,000.00 232,948.25 2.056 4.73 4.80 06/01/29 1,887 45906M5A5 3003 IBRD Intl Bk Recon & Development 03/05/24 1,500,000.00 1,500,000.00 1,501,860.00 5.5 5.42 5.50 03/05/29 1,799 594918BB9 3004 MTN Microsoft Corporation 03/04/24 979,987.43 1,000,000.00 979,560.00 2.700 5.03 5.10 02/12/25 317 31944ACD1 3005 NCD First Capital Bank 03/15/24 249,000.00 249,000.00 249,126.99 5.150 5.08 5.15 03/16/26 714 56511PBE7 3006 NCD Maple City Savings Bank 03/08/24 249,000.00 249,000.00 248,160.87 5.05 03/08/27 1,071 88457PAV9 3007 NCD Thomaston Savings Bank 03/08/24 249,000.00 249,000.00 248,462.16 5.100 5.03 5.10 09/08/27 1,255 31034RKY0 3008 NCD Farmer State Bank 03/15/24 249,000.00 249,000.00 249,261.45 5.100 5.04 5.11 03/15/27 1,078 15783QAE3 3009 NCD Chambers State Bank 03/12/24 249,000.00 249,000.00 247,877.01 5.050 4.98 5.05 03/12/29 1,806 201313CB7 3010 NCD Commercial Bank of CAL 03/06/24 249,000.00 249,000.00 249,079.68 5.000 4.93 5.00 09/08/25 525 54438CYP1 3011 MUN Los Angeles Community College 03/06/24 643,236.36 770,000.00 646,191.70 2.106 4.44 4.50 08/01/32 3,044 57582PUD0 3012 MUN State of Massachusetts 03/07/24 1,293,976.72 1,250,000.00 1,260,000.00 5.306 4.54 4.60 01/01/30 2,101 31810PCF4 3013 NCD Finwise Bank 03/22/24 249,000.00 249,000.00 248,417.34 5.100 5.03 5.10 03/22/29 1,816 843879FP7 3014 NCD Southern States Bank 03/22/24 249,000.00 249,000.00 248,300.31 5.1 5.03 5.10 09/22/25 539 74167LAT4 3015 NCD Prime Security Bank 03/15/24 249,000.00 249,000.00 248,267.94 5.05 4.98 5.05 03/15/27 1,078 710247AS6 3016 NCD Peoples Bank Clifton TN 03/15/24 249,000.00 249,000.00 250,628.46 5.000 4.93 5.00 03/15/29 1,809 3130B0DM8 3017 Call Federal Home Loan Bank 03/13/24 1,500,000.00 1,500,000.00 1,499,295.00 6 5.92 6.00 03/13/34 3,633 45383KTM9 3018 NCD Indep Bank - Grand Rapids MI 03/15/24 249,000.00 249,000.00 249,139.44 5.000 4.93 5.00 03/16/26 714 060730AS7 3019 NCD Bank of Brenham 03/14/24 249,000.00 249,000.00 249,784.35 5.100 03/14/29 1,808 88709RBB4 3020 NCD Timberland Bank Hoquaim 03/28/24 249,000.00 249,000.00 248,454.69 5.100 5.03 5.10 03/28/29 1,822 17669VAW7 3021 NCD Citizens State Bank Mont IA 03/13/24 249,000.00 249,000.00 247,331.70 5.000 4.93 5.00 03/13/29 1,807 46355PDX3 3022 NCD Iroquois Federal Say Loan Asso 03/19/24 249,000.00 249,000.00 249,849.09 5.100 5.03 5.10 03/20/28 1,449 725894NB1 3023 MUN Placentia-Yorba Linda Unif Sch 03/13/24 853,925.96 1,000,000.00 846,320.00 2.064 4.36 4.42 08/01/31 2,678 797412DM2 3024 MUN San Diego Cnty Wtr Authority 03/22/24 712,566.17 745,000.00 710,662.95 0.743 4.85 4.92 05/01/25 395 # of Transactions 105 4.87 - Avg. Yield 57,939,299.33 60,381,000.00 57,642,879.49 Item 13: Staff Report Pg. 42 Packet Pg. 185 of 254 Item 14 Item 14 Staff Report CITY OF PALO ALTO City Council Staff Report From: City Manager Report Type: INFORMATION REPORTS Lead Department: Transportation Meeting Date: May 20, 2024 Report #:2404-2932 TITLE Palo Alto Transportation Management Association 2023 Annual Report, Strategic Plan, and Commute Survey RECOMMENDATION No action is recommended, this is for information only; -2023 Annual Report, Strategic Plan, and Commute Survey by the Palo Alto Transportation Management Association. This report was discussed with the Finance Committee on April 23, 2024 and is being transmitted for compliance with the contractual agreement. ATTACHMENTS Attachment A: Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey APPROVED BY: Philip Kamhi, Chief Transportation Official Item 14: Staff Report Pg. 1 Packet Pg. 186 of 254 CITY OF PALO ALTO Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 F man Strategic Plan, and 2023 ee Commute Survey Staff Report From: City Manager Report Type: ACTION ITEMS Lead Department: Transportation Meeting Date: April 23, 2024 Report #:2403-2761 TITLE Receive and Discuss the Palo Alto Transportation Management Association (PATMA) 2023 Annual Report, Strategic Plan, and Commute Survey RECOMMENDATION Receive and provide input on the 2023 Annual Report, Strategic Plan, and Commute Survey presentation by the Palo Alto Transportation Management Association and discuss its findings to inform services and funding needs. EXECUTIVE SUMMARY The City contracts with the Palo Alto Transportation Management Association (TMA) to implement programs to reduce single -occupancy vehicle (SOV) trips to and from Palo Alto. The funding agreement between the Palo Alto TMA and the City restricts the use of City funds to trip reduction programs and requires the TMA to report on the use of these funds. The attached Annual Report covers the 2023 calendar year, detailing how the City's contribution was used to support SOV trip reduction, including the results of the Fall 2023 Commute Survey. The attachment also includes the 2024 TMA Strategic Plan. The work of the TMA supports the City's Sustainability and Climate Action Goals by working to reduce vehicle miles traveled and increasing the mode share for active transportation and transit. BACKGROUND Following direction from the City Council in 2013, staff worked to develop transportation demand management (TDM) strategies to encourage alternatives to solo driving as part of a multi -faceted effort to address traffic and parking concerns in the downtown area and the city at large. The development of a TMA for Palo Alto was a key component of this approach, which the City initially funded through a $499,880 contract with consultants Moore lacofano Goltsman, Inc.' After the TMA was formed in January 2016, this contract continued to fund the 1 Report #4766: https://www.cityofpaloalto.org/civicax/filebank/documents/43344 Item 14: Staff Report Pg. 2 Packet Pg. 187 of 254 sub -consultant services of the TMA's part-time executive director. The TM part-time staff in April 2018. Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey In June 2016, Council formalized the provision of additional City funding for TMA programs by executing a $100,000 funding agreement between the City of Palo Alto, the Silicon Valley Community Foundation (SVCF), and the Palo Alto TMA to reduce single -occupancy vehicle (SOV) commute trips to and from downtown Palo Alto.2 Because the TMA was not yet an approved Section 501(c)(3) organization (its application was pending with the Internal Revenue Service), the TMA operated as a program of SVCF. SVCF held and administered a fund restricted to specific charitable purposes and had legal discretion and control over the restricted account. When the TMA received its formal 501(c)(3) status, SVCF ceased to be the organization's program sponsor and to act as the TMA's fiscal agent. Under a subsequent amendment, the City provided an additional $100,000 to support the TMA's work in 2017. The City Council adopted a Fiscal Year 2018 budget that included $480,000 for the Palo Alto TMA to continue to support its efforts to reduce SOV commute trips using a variety of strategies. In December 2018, the agreement was amended to incorporate additional funds allocated for FY 2019 and to reflect the fact that the SVCF no longer serves as the financial agent for the TMA now that the TMA is a non-profit. In April 2019, the Finance Committee received a presentation from the TMA and provided feedback on the TMA Strategic Plan.3 On May 15, 2019, the Finance Committee recommended an increase in employee parking permit rates to provide the TMA with additional funding of up to $180,000, for a total of $660,000 annually. On June 17, 2019, the Council voted to increase the FY 2020 budget recommendation by $90,000 from the University Avenue Parking Permit Fund for a total amount of $750,000 and a subsequent amendment was executed to implement this. That agreement expired on June 30, 2020. An informational report transmitted to Council on May 26, 2020, included the 2019 TMA Annual Report, comprising commute program data, results and analysis of the Fall 2019 Downtown Commute Survey, and a summary of the 2020 Strategic Business Plan.4 In that month, the Council considered its annual budget during the COVID-19 pandemic. The Council voted to appropriate a reduced funding level of $453,000 for the TMA in FY 2021, and approved the use of City funds for the TMA's programs in the California Avenue Business District as well as the Downtown.5 Funding was provided under the new proposed funding agreement but was reduced further based on a November 2020 TMA request for $350,000. A new funding agreement was signed in 2020 reflecting Council's appropriation of $350,000 in FY 2021. This 2 Report #6823: https://www.cityofpaloalto.org/civicax/filebank/documents/52687 3 Report #10198: https://www.cityofpaloalto.org/civicax/filebank/documents/70194, Presentation: https://www.cityofpaloalto.org/civicax/filebank/blobdload.aspx?t=63435.61&BIobID=70664 4 Report #11307: https://www.cityofpaloalto.org/civicax/filebank/blobdload.aspx?t=64175.41&BIobID=76770 S Report #11376: https://www.cityofpaloalto.org/civicax/filebank/documents/76803, Action Minutes: https://www.cityofpaloaIto.org/civicax/filebank/blobdload.aspx?t=48631.05&BIobID=77870 Item 14: Staff Report Pg. 3 Packet Pg. 188 of 254 Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA agreement expired in FY 2023 and again delegated authority to the City M Annual Report, 2024 he agreement to add funding if Council budgeted more funds. In June of 2021 Strategic Plan, and 2023 Commute $150,000 in funds for the TMA for FY2022 and in June of 2022, allocated $ Survey or FY 2023. A new three-year funding agreement was approved by City Council in September of 2023, providing $200,000 for the TMA in FY 2024 and delegating authority to the City Manager to amend the agreement to add funding if Council budgets more funds. This agreement also allows the TMA to use $25,000 of City funds to reduce SOV trips anywhere in Palo Alto.6 ANALYSIS Regular reports are required under the TMA's funding agreement with the City. In the past year, the TMA has used City funds to purchase transit passes for low-income workers, supporting their use of transit, and to subsidize other programs such as carpooling, biking, and ride -share aimed at increasing all Downtown and California Avenue commuters' use of alternative modes of transportation. The attached Annual Report covers the 2023 calendar year, detailing how public funds were spent to support SOV trip reduction, including the results of the Fall 2023 Downtown Commute Survey. The attachment also includes the 2024-2027 TMA Strategic Plan which is required to be updated by the funding agreement. The Annual Report highlights several accomplishments, noting that in 2023 with $200,000 in City funds, the TMA: 1. Rebuilt the transit pass program from a low of 28 people served in May 2020 to a high of 257 in December 2023. 2. Scaled back the after-hours Lyft program to provide $10 credits rather than free fares for rides after 10 pm Monday -Saturday and after 8pm on Sunday. 3. Completed two transit pass audits to ensure compliance with PATMA rules and guard against fraud. 4. Received and activated 184 Caltrain GoPasses from the Caltrain GoPass Donation Program to distribute to low wage service sector workers in 2023. 5. Received approval to continue distributing Caltrain GoPasses in 2024 to low wage service sector workers to help rebuild Caltrain ridership. POLICY IMPLICATIONS The City's S/CAP includes two mobility goals that are directly supported by the work of the TMA: 6 Report #2308-1883: https://cityofpaloaIto.primegov.com/meetings/ItemWithTemplateType?id=2983&meetingTemplateType=2 Item 14: Staff Report Pg. 4 Packet Pg. 189 of 254 Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA • Reduce total vehicle miles traveled 12% by 2030, compared to a 201 Annual Report, 2024 St reducing commute vehicle miles traveled 20%, visitor vehicles mile Strategic Plan, and 2023 d resident vehicle miles traveled 6% Commute Survey • Increase the mode share for active transportation (walking, biking) and transit from 19% to 40% of local work trips by 2030 In addition, the transportation demand management (TDM) services provided by the TMA are consistent with the following Comprehensive Plan policies and programs: Policy T-1.1 Take a comprehensive approach to reducing single -occupant vehicle trips by involving those who live, work and shop in Palo Alto in developing strategies that make it easier and more convenient not to drive. Policy T-1.2 Collaborate with Palo Alto employers and business owners to develop, implement and expand comprehensive programs like the TMA to reduce single -occupant vehicle commute trips, including through incentives. Program T1.2.1 Create a long-term education program to change the travel habits of residents, visitors, shoppers and workers by informing them about transportation alternatives, incentives, and impacts. Work with the PAUSD and with other public and private interests, such as the Chamber of Commerce and Commuter Wallet partners, to develop and implement this program. Program T1.2.4 Evaluate the performance of pilot programs implemented by the Palo Alto Transportation Management Association and pursue expansion from Downtown to California Avenue and other areas of the city when appropriate. Program T1.2.6 Pursue full participation of Palo Alto employers in the TMA. Policy T-1.13 Encourage services that complement and enhance the transportation options available to help Palo Alto residents and employees make first/last mile connections and travel within the city for daily needs without using a single -occupancy vehicle, including shuttle, taxi and ridesha ring services. Policy T-2.2 As part of the effort to reduce traffic congestion, seek ongoing funding and engage employers to operate and expand TMAs to address transportation and parking issues as appropriate in the City's employment districts. Program T2.2.1 Work in partnership with the Palo Alto TMA and Stanford University to aggregate data and realize measurable reductions in single -occupant vehicle commuting to and from Downtown and in the Stanford Research Park. Policy T-5.5 Minimize the need for employees to park in and adjacent to commercial centers, employment districts and schools. Program T7.1.1 Expand transportation opportunities for transit -dependent riders by supporting discounts for taxi fares, rideshare services and transit, by coordinating transit systems to be shared by multiple senior housing developments, by maintaining a database of volunteer drivers and other transit options. Item 14: Staff Report Pg. 5 Packet Pg. 190 of 254 Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 FISCAL/RESOURCE IMPACT Strategic Plan, and 2023 Commute Survey Funding for the TMA in FY 2024 is sourced from the University Avenue Par 00) and General Fund ($25,000). The current funding agreement is a three-year agreement expiring at the end of FY 2026 (June 30, 2026). Any additional funds to be paid to the TMA beyond FY 2024 require Council appropriation as part of the annual budget process and amendment of the agreement. Funding of $200,000 was included in the FY 2025 Long Range Financial Forecast reflecting base budget allocation. STAKEHOLDER ENGAGEMENT Monthly Palo Alto TMA Board of Directors meetings are open to the public and occur from 9:00 - 10:00am on the third Thursday of the month. Information about board meetings can be found at the Palo Alto TMA website: https://www.paloaltotma.org/ ENVIRONMENTAL REVIEW The funding for PATMA and its associated scope of work is exempt from review under the California Environmental Quality Act (CEQA) since it can be seen with certainty that there is no possibility of a significant impact on the environment (State CEQA Guidelines Section 15061(b)(3)). ATTACHMENTS Attachment A: 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey APPROVED BY: Philip Kamhi, Chief Transportation Official Item 14: Staff Report Pg. 6 Packet Pg. 191 of 254 OTMA March 18, 2024 Palo Alto City Councilmembers Subject: Three PATMA budget scenarios for FY 2025 Dear Councilmembers, Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey Please find below three different PATMA budget scenarios for the next fiscal year. As you know, we received another generous allocation of Caltrain passes through the GoPass Donation Program for 2024. These three scenarios offer varying levels of bus passes, Bike Love incentives, refurbished bike distribution, and part-time contract labor that will further alleviate traffic congestion and demand for parking in Palo Alto as well as reduce greenhouse gas emissions, and support community health. 0k TMA Budget Scenarios 2024-2025 Scenario 1 2024-2025 Scenario 2 2024-2025 Scenario 3 Current programs Cost per worker # SOV diverted Annual cost Cost per worker # SOV diverted Annual cost Cost per worker # SOV diverted Annual cost SamTrans passes $ 787 27 $ 21,249 $ 787 50 $ 39,350 $ 787 90 $ 70,830 VTA passes $ 1,080 32 $ 34,560 $ 1,080 52 $ 56,160 $ 1,080 90 $ 97,200 Dumbarton Express passes $ 2,592 6 $ 15,552 $ 2,592 12 $ 31,104 $ 2,592 25 $ 64,800 GoPass Donation Program $ - 169 $ - $ - 184 $ - $ - 250 $ - SamTrans passes (for GoPass holders) $ 787 4 $ 3,148 $ 787 8 $ 6,296 $ 787 20 $ 15,740 VTA passes (for GoPass holders) $ 1,080 10 $ 10,800 $ 1,080 22 $ 23,760 $ 1,080 30 $ 32,400 Current annual Lyft usage 4 $ 10,113 8 $ 10,113 12 $ 10,113 Bike Love incentives $ 660 10 $ 6,600 $ 660 22 $ 14,520 $ 660 40 $ 26,400 (Bike Exchange) for essential workers $ 400 4 $ 4,000 $ 400 8 $ 8,000 $ 400 12 $ 12,000 Labor (program management, administration, commute survey) and business costs $ 89,978 $ 177,697 $ 225,017 New potential programs Marketing outreach support $ 4,000 $ 20,000 $ 30,000 Pass delivery admin support $ - $ 5,000 $ 7,500 Bike safety classes (quarterly) $ - $ 4,000 $ 4,000 support $ - $ 4,000 $ 4,000 Reduced demand for parking spaces - every day, all year 266 366 569 Cost $ 200,000 Cost $ 400,000 Cost $ 600,000 Cost/year to eliminate demand for 1 parking space $ 751.88 $ 1,092.89 $ 1,054.48 Let me know if you have any questions. Kind regards, Justine Burt Executive Director, Palo Alto Transportation Management Association Item 14: Staff Report Pg. 7 Packet Pg. 192 of 254 Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey paltoTMA 2023 Annual Report Three -Year Strategic Plan (FY2025-27) 2023 Commute Survey Submitted to the Palo Alto City Council and Finance Committee March 18, 2024 Prepared by: Palo Alto Transportation Management Association 855 El Camino Real #13A-200, Palo Alto, CA 94301 www.paloaltotma.org Item 14: Staff Report Pg. 8 Packet Pg. 193 of 254 jaltOTMA 2023 Annual Report January 1, 2023 — December 31, 2023 Submitted to the Palo Alto City Council Prepared by: Palo Alto Transportation Management Association 855 El Camino Real #13A-200, Palo Alto, CA 94301 www.paloaltotma.org March 2024 Item 14 Attachment A- Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 l Commute Survey -j Item 14: Staff Report Pg. 9 Packet Pg. 194 of 254 palto 1 MA Table of Contents r � Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J ExecutiveSummary.....................................................................................................................1 Introduction................................................................................................................................1 PATMAStaff................................................................................................................................2 Boardof Directors.......................................................................................................................3 Cityof Palo Alto Priorities............................................................................................................3 PATMAPrograms........................................................................................................................4 Benefitsof PATMA Programs......................................................................................................7 ProgramResults..........................................................................................................................7 Testimonials..............................................................................................................................10 Conclusion................................................................................................................................13 Item 14: Staff Report Pg. 10 Packet Pg. 195 of 254 paltoTMA 2023 Annual Report Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey Executive Summary In 2023, the Palo Alto Transportation Management Association (PATMA) successfully rebuilt to pre -pandemic levels of service. The number of people who did not drive to work but rather commuted by train, bus, or an active mobility option due to PATMA's program support rebounded to the level measured in early 2020. More essential workers felt comfortable in 2023 taking the train or bus or tried PATMA's $5/day Bike Love reward program. Office workers settled into a hybrid schedule of commuting and telework. Throughout it all, PATMA continued supporting workers who needed to commute to their workplaces with existing programs and new pilot programs. In 2023, PATMA diverted 266 single -occupancy vehicles from city streets, avoided 1,230,643 vehicle miles traveled, and reduced greenhouse gases by 506 tons by providing free transit passes and after -hour Lyft rides. PATMA also continued the two programs to encourage active mobility commuting: a $5/day reward for biking to work and a refurbished bicycle program for essential workers. With this work, PATMA supported three of the 2023 Palo Alto City Council's four priorities: economic recovery, climate change, and community health. Further streamlining of administrative activities and bolstering of oversight and governance happened in 2023. PATMA lost one board member but gained two new board members. Overall, the size of the board grew from seven to eight members with expanded representation from the retail and food and beverage sectors. With a foundation of dedicated staff, a committed board of directors, and the critical financial support of the City of Palo Alto, PATMA looks forward to expanding pilot programs that were begun in 2022 and 2023 and growing its impact among the community in 2024. Introduction The Palo Alto TMA is a non-profit working to reduce single -occupancy vehicle (SOV) trips, traffic congestion, demand for parking and greenhouse gas emissions by delivering targeted transportation solutions that serve Palo Alto's diverse range of employers, employees, visitors, and residents. Financial support for this work comes primarily from the City of Palo Alto's University Avenue and California Avenue parking fund. This funding allows PATMA to provide free transit passes, $5/day Bike Love rewards, and late night Lyft rides chiefly to low wage service sector workers in the two main commercial districts of Palo Alto. The pandemic that hit in March 2020, dealt a blow to mass transit when more essential workers who had to be physically present to do their jobs shifted to driving to work. Figure 1 shows the Item 14: Staff Report Pg. 11 Packet Pg. 196 of 254 pal - 1OTMAll precipitous drop in transit passes in early 2020 and the steady rebuilding through the end of 2023. Figure 1: Transit passes activated Q4 2019 — Q4 2023 300 200 U) a) U) N a - U) 100 I- 0 CA Q) 4 Q 4 O O O N N N N N (N C') C`7 C') C') C') C') Q CL i [) a)) m a) Cu C- 7 a1 [) a) a) �- 7 D7 [) Month Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J As society learned to navigate the health and safety challenges COVID posed, PATMA worked to rebuild mass transit ridership. This work and further details about PATMA's impacts in 2023 are provided below. PATMA Staff PATMA is a non-profit staffed with contractors from ALTRANS TMA Inc., a firm specializing in transportation demand management (TDM). Part-time staff working for PATMA include: • Justine Burt, Executive Director, PATMA • Sana Ahmed, Program Coordinator, PATMA • Stephen Blaylock, President, ALTRANS TMA Inc. • Andrew Ridley, Chief Operating Officer, ALTRANS TMA Inc. 2 Item 14: Staff Report Pg. 12 Packet Pg. 197 of 254 PaItoTMA Board of Directors Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey In 2023, PATMA increased the size of its board, losing one member and adding two new members. Representatives from the retail and food and beverage sectors helped diversify our board whose members at the end of the year included: • Cedric de la Beaujardiere, OpenGov (Board Chair) • Rob George, Philz Coffee (Treasurer and a founding board member) • Shannon Rose McEntee, resident (Secretary) • Philip Kamhi, City of Palo Alto • Brad Ehikian, Premier Properties • Sebastian Mafia, Sheraton • Nathaniel Duncan, Patagonia (new) • Alejandra Mier, Coupa Cafe (new) The board meets monthly on the third Thursday at 9:00am and efficiently works through one hour of agenda items. Nearly all board members regularly attend. The public is encouraged to join these virtual meetings which happen at this Zoom link. Here is a link to the recording of the November 2023 board meeting. City of Palo Alto Priorities While the original motivation for the Palo Alto City Council to create PATMA was to alleviate traffic congestion and reduce demand for parking downtown, each year, PATMA overlays the City Council's stated priorities to guide its work. In January 2023, the City Council announced its priorities for the year: 1. Economic Recovery and Transition 2. Climate Change and the Natural Environment: Protection and Adaptation 3. Housing for Social and Economic Balance 4. Community Health and Safety PATMA's work supports three of these priorities: economic recovery, climate change, and community health. Sustainability/Climate Action Plan (S/CAP) The City of Palo Alto set a goal to reduce greenhouse gas emissions 80% below 1990 levels by 2030 and to become carbon neutral by 2030. According to the City's 2021 Greenhouse Gas Emissions Inventory, the most recent available, on -road transportation emissions contribute 51.7% of emissions. The S/CAP has two mobility goals relevant to PATMA to reduce greenhouse gas emissions including: 3 Item 14: Staff Report Pg. 13 Packet Pg. 198 of 254 PaItoTMA • Reducing total vehicle miles traveled 12% by 2030, compared to a Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey reducing commute vehicle miles traveled 20%, visitor vehicles miles traveled 10%, and resident vehicle miles traveled 6% • Increasing the mode share for active transportation (walking, biking) and transit from 19% to 40% of local work trips by 2030 S/CAP plans focus on launching effective programs for emissions reductions with the highest impact and lowest cost. PATMA's programs help accomplish this goal. PATMA's Top Five Accomplishments in 2023 Since 2020, when the number of essential workers commuting by mass transit fell dramatically, PATMA has been rebuilding program numbers. In this spirit, the following are PATMA's top five accomplishments in 2023. 1. Rebuilt the transit pass program from a low of 28 people served in May 2020 to a high of 257 in December 2023. 2. Scaled back the after-hours Lyft program to provide $10 credits for rides after 10 pm Monday -Saturday and after 8pm on Sunday. 3. Completed two transit pass audits to ensure compliance with PATMA rules 4. Received and activated 184 Caltrain GoPasses from the Caltrain GoPass Donation Program to distribute to low wage service sector workers in 2023. 5. Received approval to continue distributing Caltrain GoPasses in 2024 to low wage service sector workers to help rebuild Caltrain ridership. PATMA Programs With funding from the University Avenue Parking Fund and the California Avenue Parking Fund, PATMA provides free Clipper Cards loaded with monthly passes for Caltrain, VTA buses, SamTrans buses and Dumbarton Transbay buses. PATMA also offers credits for after-hours Lyft rides of less than five miles. During 2023, PATMA received permission from the Palo Alto City Council to expand outreach to businesses throughout Palo Alto, expanding beyond the University Ave Downtown and California Ave commercial districts. Service sector workers who receive transit passes work primarily in food service, retail, and accommodation. Light office workers who receive transit passes or accrue Bike Love rewards include staff at Palo Alto's dentist, doctor, accounting, and law offices, and banks. Programs with income thresholds Train and bus passes Transit pass benefits are provided to employees earning less than $70,000 per year who work in Downtown and Cal Ave areas, as well as commercial areas along the major transit corridors of El Camino Real and San Antonio Rd. 4 Item 14: Staff Report Pg. 14 Packet Pg. 199 of 254 Item 14 Attachment A - Finance palo MA Committee Staff Report ja1toT 11 on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Pilot: Refurbished bicycles Commute Survey In 2023, PATMA continued working with local non-profit Bike Exchange for a pilot program to provide four refurbished bicycles and safety gear to essential workers. This pilot is open to workers making less than $70,000/year. Figure 2 shows one Palo Alto -based essential worker receiving her refurbished bicycle. Figure 2: Essential worker Linda Lui taking delivery of her refurbished bicycle from Palo Alto -based non- profit Bike Exchange i�reunr� Valley Bicycle E • Learn to fix bikes • Donate bikes to otl • Promote cycling • Join the fun 2566 Leghorn St, Mountair Programs without income thresholds Lyft after-hours rides of less than five miles In 2023, PATMA scaled back the Lyft program to provide rides for workers commuting less than five miles late at night after transit stops running. This change is saving the program about $1,000/month. Pilot: Bike Love rewards The Bike Love smartphone app provides daily incentives for active mode first -mile commute trips to transit and active mode commutes between home and work, of $5/day up to $599 per year per commuter. Automated travel mode detection identifies eligible bike, e -bike, e -scooter, and e -skateboard trips. Eligibility is determined by trips that stop or start within geofences 5 Item 14: Staff Report Pg. 15 Packet Pg. 200 of 254 Item 14 aloAttachment pa A- Finance I to'1' FV1A Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 around 30 Caltrain stations and two major Palo Alto job centers. Incentive CommuteSurvey redeemable at local merchants via reloadable Apple/Google Wallet Virtual Visa cards, a new type of payment card. Figure 3 shows the current geofences that mark commute destinations that earn workers rewards. Figure 3: Bike Love geofence boundaries vy s eYQ eve �d nsf sf � AP a Charming Ave Harker Ave e a Stanford F. Alto f to Alto Junior '1'e.s gypping Center useum and Z°° el�'Pn © ax Stanford ¢aoo��P�yopa By°� o`a� Stanford Arboretum Sr 0e ., cc 's C a � h¢ �pPS Stanford Stadr,r•SOUTHGATE @,� .O Pye anford University EVERRARRK EN Co`otaa° °� 0 z. as Stanford Stanford Graduate Rai-•-� O° School of Business Coronet let G6 �:ULLtGF G3 Rains Houses Tr_RRAcr: v, Niuvv �a off, mpus 4' Creekside Inn In 2023, 49% of transactions to redeem rewards happened in Palo Alto, in support of the City Council's 2023 priority for economic recovery. The ability of Bike Love users to redeem incentives at Palo Alto businesses keeps dollars in the local economy. Figure 4 provides detail about where Bike Love users are spending their reward funds. Figure 4: Where Bike Love rewards are spent All Palo Alto Other cities Amazon or online Menlo Park San Francisco Mountain View Sunnyvale Redwood City San Carlos Transaction value ($) 15,196 6,095 3,214 2,844 1,137 593 509 316 253 235 Number of 804 395 164 74 67 35 19 13 22 15 transactions Source: Motion 6 Item 14: Staff Report Pg. 16 Packet Pg. 201 of 254 PaItoTMA Bike Love app programmers at Motion gather this information from speci identification numbers where rewards are redeemed. Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey For a quick overview video explaining the app, please visit Bike Love in 80 seconds (video). Benefits of PATMA Programs While PATMA programs save service workers money on their commutes, many other benefits of these programs accrue to local businesses, workers, City government, and Palo Alto residents. Businesses For business owners and managers, PATMA's mode shift work gives them a competitive advantage over similar businesses in nearby cities. Free transit passes help shops, restaurants and hotels attract and retain workers in competitive industries with high rates of staff turnover. Workers Workers who stop driving not only save money on variable personal vehicle costs such as gasoline, maintenance, and repairs, they also escape the stress of having to drive in traffic congestion. The workers who commute by active modes enjoy the benefits of exercise that allow them to arrive at work energized and refreshed. City of Palo Alto Municipal governments impact the wellbeing of residents and workers within the city's boundaries, and PATMA's programs on the City's behalf reduce traffic congestion, free up parking spaces in commercial areas, and enhance the quality of life for residents by reducing the number of cars parked in neighborhoods. Program Results The results of the TMA's program management, outreach, and program operation labor in Figures 5-9 depict the number of SOV commuters shifted, number of transit passes distributed at specific businesses in Palo Alto, the cost per SOV avoided, the number of avoided vehicle miles traveled, and greenhouse gases (in tons) reduced. Figure 5: Number of commuters diverted from single -occupancy vehicles Transit passes 145.0 183.6 216.6 251.6 Lyft 3.5 3.9 3.8 0.9 Total 148.5 187.5 220.4 252.5 7 Item 14: Staff Report Pg. 17 Packet Pg. 202 of 254 Item 14 Attachment A - Finance pa IO T M� Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey Averaging the number of commuters diverted from single -occupancy vehicles over the four quarters yields 202.2. Figure 6 includes transit passes purchased and GoPasses donated by Caltrain. Figure 6: Number of transit passes distributed by employer in December 2023 Blue Bottle Nola Restaurant & Sheraton 29 Sephora 3 Coffee 1 Bar 1 Verve Coffee Westin Hotel 19 Roasters 3 Buca di Beppo 1 Onigilly 1 Nobu Hotel 15 Watercourse Way 3 Cafe Venetia 1 Protege restaurant 1 Downtown Streets City National Team 12 West Elm 3 Bank 1 Reposado 1 Coconuts Reservoir Caribbean bar Engineering Patagonia 12 Avenidas 2 and restaurant 1 Research Institute 1 Bjelajac Dental Right at Home Apple 10 Practice 2 Connie Ho MD 1 Peninsula 1 Lima Ruby 10 Cafe 220 2 Curry Pizza 1 Scotty's restaurant 1 Downtown Crepevine 8 Cardinal Hotel 2 Kindercare 1 Smiles By Pai 1 Dr. Stan Exceptional Whole Foods 8 Creamery 2 Dentistry 1 Somi Somi 1 Summerwinds Coupa Cafe 5 Palo Alto Inn 2 Ettan Restaurant 1 Nursery 1 Lytton Gardens (Front Porch) 4 Philz Coffee 2 Graduate Hotel 1 Sweetgreen 1 Guckenheimer: Palo Alto Bicycles 4 San Agus 2 Palo Alto Club 1 The Cobblery 1 Sekoya Lounge & SkinSpirit 4 Kitchen 2 HanaHaus 1 The Palo Alto Inn 1 Zareen's 4 Starbucks 2 Imagina Daycare 1 The Real Real 1 KinderCare Learning Bar Zola 3 Summit Bicycles 2 Companies 1 Trader Joes 1 Christine Hansen Kris Hamamoto US Bank (formerly DDS & Associates 3 Tacolicious 2 DDS, Inc. 1 Union Bank) 1 Front Porch La Bodeguita del Walgreens (Lytton Garden 3 Tamarine restaurant 2 Medio restaurant 1 Community 1 Item 14: Staff Report Pg. 18 Packet Pg. 203 of 254 PaItoTMA Senior Apartments) Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey Pharmacy Macs Smoke Joya Restaurant 3 Vizavoo Salon 2 Shop 1 ZombieRunner Mademoiselle Local Union 271 3 Webster House 2 Colette 1 Mollie Stones 3 Yayoi 2 Meyhause 1 Oren's Hummus Naschmarkt Shop 3 Arya Steakhouse 1 restaurant 1 Rangoon Ruby 3 Block Advisors 1 Nidhi Pai, DMD 1 Figure 7: Cost per SOV avoided per year • • • i • Transit pass subsidy — pass outlay $589 $490 $448 $507 Lyft program $2,603 $2,771 $1,602 $2,681 Figure 8: Avoided vehicle miles traveled (VMT) Transit pass subsidy 224,024 282,465 333,216 387,043 Lyft 1,241 1,281 1,114 260 Total VMT reduced 225,264 283,745 334,330 387,304 Totaled for the 2023 calendar year, PATMA programs reduced vehicle miles traveled by 1,230,643. Figure 9: Greenhouse gases reduced (tons) Transit passes and Lyft In CY 2023, PATMA reduced greenhouse gas emissions by 506 tons. r7 Item 14: Staff Report Pg. 19 Packet Pg. 204 of 254 paltoTMA r � Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Testimonials CommuteSurvey J The following feedback from employees of local businesses shows how much PATMA's programs mean to the community. • "I use the TMA Caltrain pass and it has been amazing. Plus I get my steps in. I tell everyone I know how great this program is!" - Norma M. • "I like taking Caltrain because it goes closer to where I need to go compared to the bus." - Lynn F. • "I love taking Caltrain!" - Shelby S. Budget The non-profit demonstrated program results which helped to grow its City funding allocation until 2020 when the pandemic altered commuting habits and parking fund revenues fell dramatically. Figure 10 shows the history of PATMA's funding allocations since FY 2016. Figure 10: PATMA funding since inception $800,000 $600,000 m $400,000 M LL $200,000 $0 2016 2017 2018 2019 2020 2021 2022 2023 2024 Fiscal Year Since 2020, PATMA has worked hard to do more with less and build back the number of workers it supports with mode shift. Figure 11 shows income sources and expenditures in CY 2023. 10 Item 14: Staff Report Pg. 20 Packet Pg. 205 of 254 PaItoTMA Figure 11: Detailed 2023 income and expenses Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey Category lan'23 Feb 23 Mar'23 Apr'23 May'23 Jun '23 lul'23 Aug'23 Sept'23 Oct'23 Nov'23 Dec '23 Beginning balance on 1/1/2023: 5118,336,65 INCOME City of Palo Alto $50,000 $50,000 $100,000 $50,000 Transp Research Rd $25,000 Memberships $2,500 $650 $100 Moved from separate account $2,500 TOTAL INCOME $0 $75,000 $50,000 SO $2,500 $0 $0 $100,000 $0 SO $3,150 $50,100 EXPENSES Altrans Management $6,149 $5,516 $7,255 $7,812 $6,064 $7,131 $7,030 $6,768 $5,713 $6,614 $5,998 $6,595 Piz (rent, office, ins, etc) $419 $986 $792 $236 -$813 $2,415 $2,293 $260 $595 $359 $253 $430 Lyft $899 $1,070 $886 $1,210 $1,043 $1,201 $2,574 $2,092 $254 $236 Pgm Operation - Altrans Labor $6,149 $5,516 $7,255 $7,812 $6,064 $7,131 $7,030 $6,768 $6,713 $6,614 $5,998 $6,695 Adjusted Transit -clipper $16,113 55,012 $7,284 57,516 $13,142 $7,847 $8,197 $8,850 $8,982 $13,314 $10,380 $3,416 Transit - refunds -$273 -$90 -$1,897 -$627 -$180 -$560 Commute Survey $12,500 TRB Grant $18,000 $22,500 Bike Love Program Expenses $2,122 $1,653 $8,749 $1,191 $2,453 $1,960 $2,105 $308 $3,263 $2,124 $2,033 TOTAL EXPENSES $29,456 $36,100 $54,630 $25,777 $26,057 $27,058 $24,551 $27,324 $23,312 $32,075 $37,507 $18,945 OVERALL TOTAL -$29,456 $38,900 -$4,630 -$25,777 -$23,557 -$27,058 -$24,551 $72,676 -$23,312 -$32,075 -$34,357 $31,155 Ending balance on 12/31/2023: $36,536.74 Management tasks include program oversight, communications with stakeholders, finance and accounting activities, managing board meetings, maintaining 501c3 non-profit status, tax filing, and pursuing business development opportunities to diversify funding sources. Program operation labor involves processing new transit pass requests, communicating about pass renewals, purchasing new passes, replacing lost passes, distributing new passes, troubleshooting, and monitoring accounts. In 2023, City Council recommended PATMA use up to $25,000 of its budget to expand outreach efforts beyond University Ave Downtown and California Ave. PATMA conducted outreach along El Camino Real and San Antonio Rd visiting dozens of businesses. As a result, six passes were processed and distributed to a hotel, dentist and plant nursery. Building on this effort, additional outreach efforts later in FY 2023-2024 yielded more passes distributed at restaurants, a cafe, a daycare center, and a spa. Figures 12 and 13 provide pie charts that show details of income and expenses. 11 Item 14: Staff Report Pg. 21 Packet Pg. 206 of 254 Figure 12: Overview of 2023 income' paltoTMA 8.9% 89.0% r � Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J City of Palo Alto Transportation Research Board Memberships Separate account Figure 13: Overview of 2023 expenses 7.6% 21.5% 10.9% 3.1% 29.7% 21.5% Management Business expenses Lyft Program operations Transit passes Commute survey TRB grant Bike Love expenses 1 Separate account refers to leftover funds from a pilot program early in PATMA's history. 12 Item 14: Staff Report Pg. 22 Packet Pg. 207 of 254 paltoTMA Conclusion Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey When PATMA staff drop off new transit passes for essential workers, staff regularly hear expressions of gratitude about how the transit passes improve workers' quality of life, allow them to stay focused at work, and reduce their family's transportation costs. Helping people is part of what makes mode shift work gratifying for the non -profit's staff, but there is more to be done with the on -going guidance of the board of directors and the City of Palo Alto's vital support. PATMA's staff and board will continue to look for ways to alleviate traffic congestion, reduce demand for parking, and reduce greenhouse gas emissions while supporting and engaging local businesses, their workers, the city of Palo Alto, and residents. In 2024, an expansion of the refurbished bike pilot, growing the number of active Bike Love users, conducting outreach at the Stanford Mall and Channing House, and distributing Caltrain's substantial allocation of GoPasses for 2024 are the main ways PATMA will build on its successful programs and deepen its impact next year. 13 Item 14: Staff Report Pg. 23 Packet Pg. 208 of 254 � zi r:IU Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA j Annual Report, 2024 x-, . +l Strategic Plan, and 2023 Commute Survey jaltoTMA Three Year Strategic Plan July 1, 2024 — June 30, 2027 Submitted to the Palo Alto City Council Prepared by: Palo Alto Transportation Management Association 855 El Camino Real #13A-200, Palo Alto, CA 94301 www.paloaltotma.org Item 14: Staff Report Pg. 24 Packet Pg. 209 of 254 paltoTMA Table of Contents r � Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J ExecutiveSummary............................................................................................................................. Introduction........................................................................................................................................ PATMAPrograms................................................................................................................................ Valueof Palo Alto TMA........................................................................................................................ Three Year Strategic Planning.............................................................................................................. Workplan............................................................................................................................................ ThreeBudget Scenarios....................................................................................................................... Budget History and Projections............................................................................................................ Conclusion........................................................................................................................................... .1 .1 .3 .4 .6 .9 10 12 14 Item 14: Staff Report Pg. 25 Packet Pg. 210 of 254 paltoTMA PATMA's Three Year Strategic Plan July 1, 2024 —June 30, 2027 Executive Summary Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey The Palo Alto Transportation Management Association (PATMA) supports local businesses with transportation demand management programs that help companies attract and retain workers: free transit passes, rewards for active mobility commutes, and after-hours Lyft rides less than five miles. For the past four years, PATMA has been rebuilding from a pandemic -induced 90% drop in transit pass requests in early 2020. In December 2023, PATMA's programs resulted in a reduction of demand for 266 parking spaces which yields benefits every day, all year. Building on this success, our strategic plan details the following goals for the next three years. • Year 1: Outreach at the Stanford Mall, Channing House, and along El Camino Real to increase distribution of transit passes to low wage service sector workers currently driving to work; and expansion of active mobility programs and outreach to encourage workers who commute less than 10 miles • Year 2: Expand active mobility programs and outreach; expand incentives for workers willing to leave their car at home; educate about expanded mobility options to reassure workers that they can get where they need to go without using a personal vehicle • Year 3: Support the evolution of disjointed transportation options (personal vehicles, ride hailing, vehicle rental, trains, buses, and active mobility) into a low -carbon, seamless, integrated system in order that workers can travel to where they need to go without owning a personal vehicle The recent change in City policy allowing the TMA to help workers switch to sustainable transportation modes at Stanford Mall and along El Camino Real, as well as discovery of opportunities at Channing House, provides a roadmap for dramatic growth in essential workers served in the next year. To support more workers to switch from single occupancy vehicles to train, bus or active mobility, PATMA requests City funding of $400,000 for Fiscal Year 2025. Introduction The Palo Alto Transportation Management Association (PATMA) is leading efforts to reshape commute behaviors in town. Abundant mass transit, active mobility (bicycle, electric scooter, walking), on -demand car sharing options as well as trip planning apps mean some workers who live and work near major transit pipelines like Caltrain, VTA 22/522, SamTrans ECR, and the Dumbarton Express can commute quickly and efficiently without needing to own a personal Item 14: Staff Report Pg. 26 Packet Pg. 211 of 254 pa, �toTMA vehicle. In this spirit, PATMA provides information and incentives that enc Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey shift out of their single -occupancy vehicles (SOVs) and into low -carbon transportation options. Building on the foundation of our mission and core values, listed in Figure 1, each year PATMA overlays the City Council's strategic priorities to focus our non - profit's efforts. In January 2024, the Palo Alto City Council set their strategic priorities for the year as: 1. Climate Change & Natural Environment — Protection & Adaptation 2. Community Health, Safety, Wellness & Belonging 3. Economic Development & Transition 4. Housing for Social & Economic Balance PATMA's programs help address three of these four priorities: economic recovery, climate change, and community health by providing essential workers — mostly in food service, retail, and accommodation — with commute counseling, access to free transit passes, rewards for bicycling to work, and late night ride -sharing services. Figure 1: PATMA's mission and core values Mission Better commutes for everyone Core values • Traffic — lighten traffic congestion • Parking — reduce demand for parking in commercial areas • Climate change —transition to a zero -emission transportation system • Equity — fair outcomes, treatment and opportunities for all • Local businesses — help local businesses attract and retain employees • Health — encourage community health Figure 2 shows that PATMA successfully rebuilt the number of workers served after a precipitous drop in transit pass demand in early 2020. With expanded outreach, development of new programs, and diversified funding sources, PATMA was able to reduce the cost per SOV diverted, greenhouse gases (GHGs) emissions, and vehicle miles traveled (VMT). Figure 2: Passes activated for PATMA clients 300 200 0 Q1 Q1 O O O O O O N N N N N N 'N 'N 'N 'N 'N 'N N N N N N N N N N N N N N N N N N N N N N N N N on- C o) U D C o) U fl C m U fl C m U 0 0 O a Q O o a Q o Ito a Q o Ito a Q 0 Month 2 Item 14: Staff Report Pg. 27 Packet Pg. 212 of 254 paltoTMA PATMA Programs Programs with income thresholds Transit Passes Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey Currently, PATMA focuses on supporting essential workers in the Downtown and California Ave commercial districts. If these workers are driving to work, they can receive free Caltrain, VTA, SamTrans, or Dumbarton Transbay bus passes. Refurbished Bicycles In 2022, PATMA piloted a refurbished bicycle program with the local non-profit Bike Exchange. This refurbished bicycle program is for essential workers in Palo Alto making less than $70,000/year who would like to bike to work but do not own a bicycle. If they also need any safety equipment — helmet, lock, lights — Bike Exchange will include these for each essential worker receiving a refurbished bike. Programs without income thresholds After hours Lyft rides Workers who live less than five miles from work and who need to travel home from work late at night when mass transit is not running can receive a $10 Lyft credit per ride. There is no income limit for this program. Bike Love In 2022, PATMA launched the Bike Love app which provides $5/day up to $600/year to workers Downtown and on Cal Ave to encourage commuters to leave their cars at home and bike or e -scooter to work. Unlike the transit pass program, there are no income restrictions for the Bike Love program. The app was designed to provide attractive financial rewards to all workers in Downtown and on Cal Ave in order to build active mobility habits. See Figure 3 for a map of Bike Love program boundaries within which workers earn rewards. The Bike Love app also rewards travel to all 30 Caltrain stations for commuters who would be incentivized to bike or scooter to Caltrain and take the train to work. Figure 3: Geofenced areas for Bike Love rewards Bike Love's commuter location tracking confirms bike, e -bike, e -scooter, and e -skateboard trips. Within a few minutes of arrival, incentive dollars may be redeemed by the commuter at local 3 Item 14: Staff Report Pg. 28 Packet Pg. 213 of 254 paj ItoTMA Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 merchants via Apple/Google Wallet electronic debit cards. When some of 1I CommuteSurvey l on -boarded Bike Love app users redeem rewards at Palo Alto businesses, app programmers at Motion collect merchant identification numbers which allow them to track where reward dollars are spent. About half of reward dollars are redeemed at Palo Alto -based businesses which is another way that PATMA supports local businesses and multiplies program impact to benefit the local economy. Single -occupancy vehicles diverted In December 2023, PATMA reduced demand for 266 parking spaces by helping service workers in Palo Alto access train and bus passes, providing late night Lyft rides, and Bike Love rewards. Details about PATMA's December 2023 metrics include 257 active transit passes, as well as Lyft rides and bicycle trips. Train and bus passes activated (December 2023 • 169 GoPasses (without bus passes) • 11 GoPasses with VTA pass • 4 GoPasses with SamTrans pass • 31 VTA passes • 33 SamTrans passes • 6 Dumbarton Express passes • 3 Caltrain passes Lyft (December 2023): • 3 active riders • 34 rides taken (one-way trips) • 105.9 miles covered • 338.23 transaction amount Bike Love (December 2023): • 6 people bicycling to work (three or more times/week)' • 518 miles logged For the 12 -month period ending December 31, 2022, PATMA programs avoided 1,230,643 vehicle miles traveled, and reduced greenhouse gases by 506 tons by providing free transit passes and after -hour Lyft rides. Value of Palo Alto TMA Competitive Advantage for Local Businesses Local businesses in the Downtown and Cal Ave areas contribute to the wonderful quality of life in Palo Alto. In turn, PATMA's transit pass programs and active mobility programs support local businesses by giving them a competitive advantage to attract and retain staff. As the primary 1 In third quarter 2023, 11 people on average bicycled logged trips to work. 4 Item 14: Staff Report Pg. 29 Packet Pg. 214 of 254 paltoTMA Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 funder of PATMA's cost-effective programs, the City demonstrates its lead Commute Survey Jnd climate change issues by supporting PATMA. Supporting Palo Alto's Sustainability/Climate Action Plan Work In 2016, the City of Palo Alto set an ambitious overall GHG emissions reduction goal: 80% below 1990 levels by 2030. As of 2021, the City has reduced emissions to 53.9% below the 1990 level, despite a population increase of 19.5 percent during that same time period. Of that 53.9 percent reduction to date, 44.2 percent came from achieving carbon neutrality for the City's electricity portfolio, 28.6 percent from declines in transportation emissions, 13.9 percent from reduction in natural gas (methane) consumption, 11.5 percent from declines in solid waste emissions, and 1.7 percent from declines in wastewater -related emissions. To reduce emissions further, one of Palo Alto's Sustainability/Climate Action Plan (S/CAP) goals is to increase the mode share for active transportation modes (walking, biking, and transit) from 19% to 40% of local work trips by 2030. According to Palo Alto's 2021 Greenhouse Gas Emissions Inventory, 51.7% of Palo Alto's GHG emissions come from on -road transportation sources, as seen in Figure 4. Figure 4: 2021 greenhouse gas emissions in Palo Alto by sector Natural Gas (Methane) Use, 37.8% ElectnLILy u5C, 0% Natural Gas (Methane) Fugitive Emissions, Solid 11% Waste, Wastewater, 1,8% \ I 0.4% Transportation and Mobile Sources, 58.8% Source: June 5, 2023 Report to Palo Alto City Council, Approval of 2023-2025 S/CAP Workplan 5 Item 14: Staff Report Pg. 30 Packet Pg. 215 of 254 pa, �toTMA When looking at total emissions by source, commuters contribute the second hig greenhouse gases after visitors. See Figure 5. Figure 5: 2020 greenhouse gas emissions by source 110,000 105,000 100,000 95,000 90,000 85,000 80,000 75,000 70,000 65,000 60,000 55,000 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 Total Emissions by Source {MT CO2 -e) Residential Buildings Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey I o Q y� c P 2 L 2 E R u a E E Y OO V 0 Non -Residential Buildings Transportation Source: June 5, 2023 Report to Palo Alto City Council, Approval of 2023-2025 S/CAP Workplan PATMA is positioned to play a key role in facilitating GHG emission reductions by raising awareness about the benefits of mode shift, offering information about sustainable commute options through commute counseling, and providing incentives for mode shift. Three -Year Strategic Planning At meetings in November 2023 through February 2024, PATMA's Board of Directors conducted strategic planning for the next three years. Input gathered informs PATMA's path forward with goals, strategies, and objectives for 2024-2027. Year 1 (FY 2024-25) Goals • Mode shift single occupancy vehicle (SOV) drivers to mass transit or active mobility • Reduce demand for parking spaces — every day, all year 6 Item 14: Staff Report Pg. 31 Packet Pg. 216 of 254 paltoTMA • Help rebuild mass transit ridership Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey • Increase the number of people commuting by active mobility (bicycle, e -scooter, walking) • Increase PATMA program administration efficiency • Support local businesses to attract and retain workers • Support City of Palo Alto Sustainability/Climate Action Plan goals to reduce greenhouse gases Strategies • Expand marketing collateral for transit passes and active mobility o Full -page flyer with all PATMA programs and other mode shift programs that serve Palo Alto (free train and bus passes, Bike Love rewards, refurbished bikes, Palo Alto Link, Guaranteed Ride Home, list of car share and car rental options) o ARC GIS map of transit pipelines and bike routes to Palo Alto from nearby cities o Articles and opinion pieces in local newspapers o Window clings (non -adhesive decal) for businesses that receive PATMA incentives o T-shirts with PATMA's new, shorter mission statement • Market PATMA programs at the Stanford Mall, Channing House, along El Camino Real, and to businesses that currently do not receive PATMA incentives • Pilot programs that encourage active mobility — bike safety classes, route planning, e - bike lending program • Train managers at businesses with the largest number of transit passes about Clipper Card best practices • Encourage transit pass users to load Clipper Card onto their phone with the Clippercard.com app • Deepen relationships with non-profit organizations that have similar missions and goals (Friends of Caltrain, Seamless Bay Area, Silicon Valley Bicycle Coalition) • Study hypothesis that having a transit pass connected with a service sector job results in higher employee retention Objectives • # parking spaces not needed • # train and bus passes provided to Palo Alto workers making less than $70,000/year • # people taking active mobility to work • # businesses with PATMA membership • Reduce cost/SOV diverted • Grow the number of Bike Love app users biking to work at least 3x/week 7 Item 14: Staff Report Pg. 32 Packet Pg. 217 of 254 paltoTMA Year 2 (FY 2025-26) Goals Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey • Help expand clean transportation options available to people who work in Palo Alto so they do not need to own a personal vehicle • Support safety of commuters using active mobility • Support City of Palo Alto goals to reduce greenhouse gases from on -road transportation and increase number of commuters using active mobility • Reduce demand for parking spaces —every day, all year • Support local businesses to attract and retain workers • Diversify funding sources • Provide TDM services Citywide • Expand awareness of PATMA among people who work in Palo Alto Strategies • • Expand PATMA's toolkit of information and incentives to encourage mode shift Expand pilot active mobility education programs that were effective in 2024-25 to shift cyclists up a level (to the right in Figure 6) Figure 6: Four types of cyclists (Portland, OR study) IT Will not cycle because they can't; because the terrain is unsuitable; or because they have no interest whatsoever in it 60% They are curious about cycling and like to ride but are afraid to do so and put off by the need to ride close to motor vehicles and pedestrians Source: Roger Geller, City of Portland ENTNU5EDandcoNFIDE NT Already riding, but they could ride more and their riding experience could be better 1% Will cycle regardless of road conditions and are ready to mix with traffic Develop case studies of workers using active mobility programs that benefited from not driving to work 8 Item 14: Staff Report Pg. 33 Packet Pg. 218 of 254 paltoTMA Objectives • # parking spaces not needed • # people taking active mobility to work • # of people trained in defensive cycling techniques • # businesses with PATMA membership Year 3 (FY 2026-27) Goals r � Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J • Support the evolution of our region's disjointed transportation options (personal vehicles, ride hailing, vehicle rental, mass transit, and active mobility) into a low -carbon, seamless, integrated system • Determine what is missing to help workers get where they need to go without owning a personal vehicle Strategies • Expand PATMA's toolkit of information and incentives to encourage mode shift • Test new technology mobility -as -a -service (MaaS) planning and payment options as they become available Objectives • # parking spaces not needed • # train and bus passes provided to Palo Alto workers making less than $70,000/year • # people taking active mobility to work • # businesses with PATMA membership Workplan Year 1 In the next year, PATMA plans to aggressively expand the number of SOVs diverted given recent discoveries of large numbers of retail and service sector employees in our service territory at the Stanford Mall and Channing House. These areas are well -served by transit and offer a significant opportunity to reduce congestion and realize mode shift. The following seven tasks are planned for FY 2025: 1. Create a marketing plan 2. Promote train and bus passes, the Bike Love app, and refurbished bicycle program 3. Provide commute counseling and route planning 4. Distribute train and bus passes and streamline program administration 5. Expand the number of active Bike Love app users 9 Item 14: Staff Report Pg. 34 Packet Pg. 219 of 254 Item 14 Attachment A - Finance pa Igo 1 MA Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 6. Pilot an e -bike lending program for 5 low wage service sector work Commutesurvey miles from work 7. Conduct the 2024 commute survey The timeframe for each task is shown in Figure 7. Figure 7: Year 1 workplan 7/ 24 8/ 24 9/ 24 10/ 24 11/ 24 12/ 24 1/ 25 2/ 25 3/ 25 4/ 25 5/ 25 6/ 25 Task 1— Marketing plan Task 2— Program promotion Task 3— Commute counseling Task 4 —Administer transit passes Task 5— Expand # of Bike Love users Task 6— E -bike lending pilot Task 7— Commute survey With the roll out of Caltrain's electrification project in fall 2024, we expect additional riders will be attracted to mass transit. Year 2 In FY 2026, PATMA will continue to monitor developments for Mobility as a Service apps that help riders more efficiently plan, pay for, and transfer between multiple commute modes, as well as the Seamless Bay Area project, and support development of the City's Bicycle and Pedestrian Transportation Plan Update. Year 3 In FY 2027, we will identify service gaps to develop new programs and implement emerging mobility technology while continuing to expand programs that divert SOVs and reduce traffic congestion Downtown, in the Cal Ave business district, and in other parts of the city. We will expand active mobility programs for commuters who live less than 10 miles from work. Three Budget Scenarios PATMA offers three budget scenarios for FY 2025, as seen in Figure 8. A small budget would represent a lower level of service than currently provided which would result in lower numbers of SOVs removed from area roads. The medium budget would allow PATMA to take at least an additional 100 cars off the road and the larger budget would allow us to deepen relationships with managers in business sectors with essential workers to remind them about our programs that help them attract and retain employees. The larger budget would provide more transit passes and more incentives to encourage SOV drivers who are on the fence about mode shift to switch over. 10 Item 14: Staff Report Pg. 35 Packet Pg. 220 of 254 paltoTMA Figure 8: Small, medium and larger budget options for FY 2025 Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey • ••- -• • ••- X11 111 • ••- 11 111 .11 111 • Two quarter -time • Two half-time staff Same as Medium staff • Expanded promotion of free train and bus passes budget plus • Promotion of free for low wage service sectors workers — Stanford additional SOVs train and bus Mall, Channing House, South El Camino Real, removed from traffic passes for low University Ave., and California Ave. due to: wage service sector • Bike Love app providing $5/day rewards • Citywide service workers • Adult bike safety classes — online basics and in- • Higher level of • Customer service person practice effort for for pass • Annual commute survey marketing — labor, administration • Quarterly reports collateral • Annual commute • Annual report • More train and survey • Three-year strategic plan bus passes • Quarterly reports • Monthly board meetings (quick, efficient one distributed at • Annual report hour meetings where 8 board members give current and • Three-year Y feedback and support on emerging issues) additional strategic plan • RideAmigos — pilot ride management platform for businesses • Quarterly board commute rewards • Offer Bike Love to meetings • Electric bike pilot program for 5 low wage service more sector workers commuting from Redwood City, organizations Menlo Park, East Palo Alto and Mountain View • Expanded program • Develop e -bike case studies to show the benefits of RideAmigos of active commute to help convince others to incentives mode shift • Route planning - help people considering a bike commute to plan a safe route to work • 8 refurbished bikes for low wage service sector workers • Publicity to raise awareness about PATMA's work - articles and opinion pieces in local papers • 266 parking spaces • 366 parking spaces freed • 569 parking spaces freed falling to 200 freed with transit pass attrition The medium budget is a bit above the budget spending PATMA has been running and would allow us to invest funding into programs and approaches that have proven to work, as well as try a new pilot to encourage more active mobility. A larger budget would allow us to provide services Citywide and provide more mode shift incentives. 11 Item 14: Staff Report Pg. 36 Packet Pg. 221 of 254 paj ItoTMA Budget History and Projections Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey Budget History Looking back at funding levels since the start of the Palo Alto TMA, the program grew over several years and demonstrated cost-effective successes with SOV diversion, GHG reductions, and VMT reductions until the pandemic hit. Figure 9 shows historic budget trends. Figure 9: PATMA funding since inception LL $800,000 $600,000 $400,000 $200,000 $0 2016 2017 2018 2019 2020 2021 2022 2023 2024 Fiscal Year Budget for FY 2024 As we seek to grow program participation further, PATMA's funding request for FY 2024 is $400,000. Reasons that factor into this funding level request include: • PATMA has identified three areas in town with large numbers of low wage service sector workers and constrained parking options that could help shift large numbers of people to mass transit and active commutes (Stanford Mall, Channing House, and south El Camino Real) • PATMA already has strong relationships with local business managers and articulates clear value propositions for workers and managers. Building on this, the main additional cost of removing demand for parking spaces around town involves the cost of bus passes and Bike Love rewards. With cost of living adjustments from the FY 2024 budget, the continued availability of free GoPasses from Caltrain, and income of $400,000 from the City of Palo Alto, PATMA projects the following budget for FY 2024 in Figure 10. 12 Item 14: Staff Report Pg. 37 Packet Pg. 222 of 254 paltoTMA Figure 10: FY2025 Budget Projection Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey Category Jul'24 Aug'24 Sept'24 Oct'24 Nov'24 Dec 24 Jan '25 Feb'25 Mar'25 Apr'25 May'25 Jun'25 INCOME City of Palo Alto $50,000 $100,O00 $100,000 $100,000 Memberships $750 $800 $2,500 TOTAL INCOME $50,000 $100,000 $750 $800 $100,000 $102,500 EXPENSES Altrans management $6,992 $6,992 $6,992 $6,992 $6,992 $6,992 $6,992 $6,992 $6,992 $6,992 $5,992 $6,992 Biz (rent, office, ins, etc) $204 $204 $204 $204 $204 $204 $204 $204 $204 $204 $2,450 $1,231 Lyft $338 $338 $338 $338 $400 $400 $400 $400 $338 $338 $338 $338 Pgm Operation - ALTRANS labor $6,992 $6,992 $6,992 $6,992 $6,992 $6,992 $6,992 $6,992 $6,992 $6,992 $6,992 $6,992 Adjusted transit - Clipper Cards $9,500 $9,880 $10,275 $10,686 $11,114 $11,447 $11,790 $12,144 $12,630 $13,135 $13,661 $14,207 Transit - refunds -$275 -$275 -$275 -$275 -$275 -5275 -$275 -$275 -$275 -$275 -$275 -$275 Commute survey $5,000 $5,000 Bike Love expenses $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $6,000 $2,400 $2,400 $2,400 TOTAL EXPENSES $26,152 $26,532 $31,927 $32,338 $27,827 $28,161 $28,504 $28,858 $32,882 $29,787 $32,558 $31,885 OVERALL TOTAL -$26,152 -$26,532 $18,073 -$32,338 $72,173 -$27,411 -$27,704 $71,142 -$32,882 -$29,787 $69,942 -$31,885 As circumstances change, PATMA has the ability to adjust our income and expenses through various financial levers. • Reducing labor costs • Reducing program expenses • Requesting additional GoPasses from Caltrain and large employers in the area • Increasing grant writing and philanthropic fundraising • Growing our fee-for-TDM planning and program administration business • Identifying the feasibility of short-term loans PATMA will continue to operate in a lean manner and make effective use of our budget to maximize impact. Budget Scenarios for 2023-2024 While PATMA's FY 2024 budget request is for $400,000, with a higher level of funding, PATMA could serve more people with transit passes, Lyft late night rides home, and bicycle programs. Consider Figure 11 which provides the return on investment for various levels of funding that will result in a reduction of demand for 266, 366, or 569 parking spaces. Figure 11: Return on investment for various levels of funding 13 Item 14: Staff Report Pg. 38 Packet Pg. 223 of 254 paltoTMA Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 :kTMA Commute Survey Budget Scenarios 2024-2025 Scenario 1 2024-2025 Scenario 2 2024-2025 Scenario 3 Current programs Cost per worker # SOV diverted Annual cost Cost per worker # SOV diverted Annual cost Cost per worker # SOV diverted Annual cost SarnTrans passes $ 787 27 $ 21,249 $ 787 50 $ 39,350 $ 787 90 $ 70,830 VTA passes $ 1,080 32 $ 34,560 $ 1,080 52 $ 56,160 $ 1,080 90 $ 97,200 Dumbarton Express passes $ 2,592 6 $ 15,552 $2,592 12 $ 31,104 $2,592 25 $ 64,800 GoPass Donation Program $ - 169 $ - $ - 184 $ - $ - 250 $ - SamTrans passes (for GoPass holders) $ 787 4 $ 3,148 $ 787 8 $ 6,296 $ 787 20 $ 15,740 VTA passes (for GoPass holders) $ 1,080 10 $ 10,800 $1,080 22 $ 23,760 $ 1,080 30 $ 32,400 Current annual Lyft usage 4 $ 10,113 8 $ 10,113 12 $ 10,113 Bike Love incentives $ 660 10 $ 6,600 $ 660 22 $ 14,520 $ 660 40 $ 26,400 Buying refurbished bikes (Bike Exchange) for essential workers $ 400 4 $ 4,000 $ 400 8 $ 8,000 $ 400 12 $ 12,000 Labor (program management, administration, commute survey) and business costs $ 89,978 $ 177,697 $ 225,017 New potential programs Marketing outreach support $ 4,000 $ 20,000 $ 30,000 Pass delivery admin support $ - $ 5,000 $ 7,500 Bike safety classes (quarterly) $ - $ 4,000 $ 4,000 Bike buddy wayfinding support $ - $ 4,000 $ 4,000 Reduced demand for parking spaces - every day, all year 266 366 569 Cost $ 200,000 Cost $ 400,000 Cost $ 600,000 Cost/yearto eliminate demand for 1 parking space $ 751.88 $ 1,092.89 $1,054.48 Conclusion In support of the local economy, over the next three years PATMA will look for opportunities to continue delivering cost-effective programs for service sector and light office workers that reduce traffic congestion and demand for parking in Palo Alto. PATMA will leverage complementary programs by other agencies such as Caltrain's GoPass Donation Program, Silicon Valley Bicycle Coalition's bike safety training, and VTA's Guaranteed Ride Home program that enable mode shift to low -carbon commute modes. Many public and private organizations are working hard to facilitate a future seamless, integrated low - carbon transportation system in the Bay Area that will lower personal transportation costs and reduce GHG emissions. PATMA will continue to monitor developments in these areas in support of local businesses and their employees. 14 Item 14: Staff Report Pg. 39 Packet Pg. 224 of 254 Item 14 Attachment A - Finance Committee Staff Report ,' on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey : ' 2023 COMMUTE SURVEY REPORT fo, CITY OF PALO ALTO lalttoTMA and PATMA Board Members Cedric de la Beaujardiere, resident (Chair) Brad Ehikian, Premiere Properties Rob George, Philz Coffee (Treasurer) Sebastian Mafia, Sheraton Shannon McEntee, resident (Secretary) Alejandra Mier, Coupa Cafe Philip Kamhi, City of Palo Alto Nathan Duncan, Patagonia December 2023 Prepared by: Justine Burt Sana Ahmed ALTRANS TMA Inc 302 Tovon Ave. Suite F -MS 410 ALTRANS Item 14: Staff Report Pg. 40 Packet Pg. 225 of 254 Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J Table of Contents Executive Summary Introduction ........... Survey Population ... Survey Methodology Results .................... Key Insights ............. Conclusions ............. 1 2 3 4 6 15 16 Item 14: Staff Report Pg. 41 Packet Pg. 226 of 254 Executive Summary In September and October 2023, the Palo Alto Transportation Mana (PATMA) team surveyed workers at organizations in the University Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 n n (Downtown) and California Avenue (Cal Ave) areas to learn about their commute habits and preferences. The team conducted online and in -person surveys in English and Spanish through door-to-door canvassing, mass texting, and email follow-up. This document provides the highlights of the survey findings. The two main objectives of the commute survey were to 1) determine which workers in Downtown and Cal Ave were open to shifting their commute from single occupancy vehicles to mass transit or active mobility options and 2) raise awareness of PATMA programs. Based on the 738 completed surveys, Figure 1 shows the percentage of respondents from the four main sectors in Downtown and on Cal Ave: service, government, technology, and light office. Figure 1: Survey Respondents by Sector SURVEY RESPONDENTS BY SECTOR ■ Service ■ Government ■ Technology Light Office Figure 2 below shows the primary mode workers use to commute each week. A little more than half of the workers who participated in the survey shared that their primary commute mode is a single occupancy vehicle. 1 Item 14: Staff Report Pg. 42 Packet Pg. 227 of 254 Figure 2: Primary Commute Mode of Survey Respondents PRIMARY COMMUTE MODE Ln r � Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J N II m o 0 � ■ ti DRIVE ALONE TRANSIT CARPOI WALK TELECOMMUTE OTHER Also notably, answers to the survey question "Are there any issues or concerns you would like to share about your commute?" yielded a treasure trove of feedback, insights, and compliments with one respondent sharing that: "I use the TMA Ca/train pass and it has been amazing. Plus 1 get my steps in. / tell everyone I know how great this program is!" Most importantly, data collected in the 2023 commute survey illuminates opportunities to reach more workers and expand PATMA program offerings that will help realize the City of Palo Alto's goals to reduce traffic congestion, reduce demand for parking, support economic recovery, lower greenhouse gas emissions, and address social equity issues. Introduction In 2023, the Palo Alto Transportation Management Association (PATMA) conducted their eighth annual employee commute survey as required by the funding agreement between PATMA and the City of Palo Alto (COPA). PATMA contracted with ALTRANS TMA Inc. to conduct the survey in-house and performed outreach in September and October 2023. The survey was designed to identify how Palo Alto employees working in the University Avenue Downtown (Downtown) and California Avenue (Cal Ave) areas commute to work, identify individuals currently driving alone who are open to shifting to a sustainable commute mode, and raise awareness of PATMA's program offerings. 2 Item 14: Staff Report Pg. 43 Packet Pg. 228 of 254 Item 14 Attachment A - Finance Committee Staff Report Survey Population on 2023 Palo AltoTMA Annual Report, 2024 The total worker population for the Downtown and Cal Ave areas, accordin Strategic Plan, and 2023 S Commute Survey OntheMap data tool, shows 34,824 workers in three census tracts in Doriiowri dUO D,302 workers in the census tract for the Cal Ave area. Four census tracts referenced are shown in Figure 3. Figure 3: Census Tracts for Downtown and California Ave Workers Census Tract 5116.09 Census Tract 5113.02 (includes El Camino Real hotels and Sand Hill Rd) (includes Downtown University Ave) Census Tract 5115.01 (includes California Ave and across El Camino Real) Census Tract 5113.01 (includes Downtown area south of University) (Santa Clara, CA) 0censusr ctss,a,,.nnWee: 0.377SA to \,.5113.01 Census a.---]1 ,;;� Perform Analyse on Selector Area Change Selection Area Ado, Aovanretl Seieccon a For these four census tract numbers, the 2021 data set' for the U.S. Census OnTheMap tool was extracted to determine the number of workers for each North American Industrial Classification System (NAICS) category. Figure 4 shows NAICS codes for which there is worker data as well as the corresponding PATMA sector classification category -- service, government, technology and light office. 1 2021 data is the most recent available from the U.S. Census onTheMap database 3 Item 14: Staff Report Pg. 44 Packet Pg. 229 of 254 Figure 4: NAICS Codes and PATMA Classification Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo AltoTMA Annual Report, 2024 NAICS Code NAICS Sector Name Strategic Plan, and 2023 Commute Survey 11 Agriculture, Forestry, Fishing and Hunting Service 21 Mining, Quarrying, and Oil and Gas Extraction Service 22 Utilities Government 23 Construction Service 31-33 Manufacturing Service 42 Wholesale Trade Service 44-45 Retail Trade Service 48-49 Transportation and Warehousing Service 51 Information Technology 52 Finance and Insurance Light Office 53 Real Estate and Rental and Leasing Light Office 54 Professional, Scientific, and Technical Services Technology 55 Management of Companies and Enterprises Light Office 56 Administrative and Support and Waste Management Light Office and Remediation Services 61 Educational Services Light Office 62 Health Care and Social Assistance Service 71 Arts, Entertainment, and Recreation Light Office 72 Accommodation and Food Services Service 81 Other Services (except Public Administration) Service 92 Public Administration Government Source: NAICS Association The number of workers listed in each census tract were placed into four different employment classifications in Figure 5, which shows the total population of workers for this survey. Figure 5: Number of Workers in Two Commercial Areas Downtown Service 15,623 45% Technology 14,806 43% Light Office 3,482 10% Government 913 3% Total Downtown 34,824 California Ave Service 1992 38% Technology 1592 30% Light Office 1,718 32% Government 0 0% Total Cal Ave 5,302 Total Population 40,126 Source: U.S. Census OnTheMap, 2021 data 4 Item 14: Staff Report Pg. 45 Packet Pg. 230 of 254 Item 14 Attachment A - Finance Committee Staff Report From among this total population in these two commercial areas, as of the on 2023 Palo AltoTMA e commute survey team had received 831 surveys from workers. After clea Annual Report, 2024 a of duplicate responses and incomplete surveys, there were a total of 738 Strategic Plan, and 2023 f Commute Survey which 324 respondents were service sector workers, 199 were government ht office workers, and 144 were tech workers. This year's response rate was higher than the two previous years the survey was conducted. The response rate for each of the eight survey years is shown in Figure 6. Figure 6: Number of PATMA Commute Survey Responses by Year 2023 738 2022 511 2021 551 2019 1,471 2018 496 2017 892 2016 829 2015 1,173 In 2023, the use of electronic tablets, stronger working relationships with managers, and gentle nudges to organizations that had not yet completed any surveys, as well as a return to office (RIO) in the tech sector helped boost response numbers over the previous year. Survey Methodology In fall 2023, the PATMA team reached out to businesses and organizations to administer the survey. Questions asked about the primary travel mode workers used to commute, their city of residence, employer, income level, openness to sustainable commute options, and interest in commute counseling. The survey was mainly administered through tablets using the SurveyMonkey platform. The electronic survey version employed skip logic and survey branching to optimize question relevance to different respondents. Paper copies of the surveys in English and Spanish were distributed to managers at downtown hotels who collected responses from their staff. Block - by -block, door-to-door canvassing resulted in a dataset representing businesses and organizations in the Downtown and Cal Ave areas. Door-to-door outreach was bolstered by mass texting and email follow-up to business contacts. The PATMA team was able to secure 738 responses to the survey out of a Downtown and Cal Ave worker population of 40,126 people. At a 95% confidence interval, and with a sample size at 1.84% of the population, the margin of error for this data is +/- 0.96%. 5 Item 14: Staff Report Pg. 46 Packet Pg. 231 of 254 Results Data collected in this survey shed light on several topics: r � Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J • how people commute to work • where they are coming from • which workers could get to work taking just one transit option running into Downtown or Cal Ave • which workers are open to a different commute mode, and • what information, equipment, or incentives could encourage them to make the shift from driving alone. The following figures show the results for each question. Q1. In which city and zip code do you live? Among survey respondents this year, the top 20 home cities are shown in Figure 7. Figure 7: Top 20 Cities of Survey Respondents Home City Count Home City Count San Jose 121 Menlo Park 17 Palo Alto 83 Hayward 14 Mountain View 64 San Carlos 14 Redwood City 61 Campbell 9 Sunnyvale 55 Gilroy 9 East Palo Alto 39 Belmont 8 San Francisco 32 Newark 8 Santa Clara 23 Cupertino 7 Fremont 22 Los Altos 7 San Mateo 18 San Ramon 7 Figure 8 maps the zip codes of survey respondents. C Item 14: Staff Report Pg. 47 Packet Pg. 232 of 254 Figure 8: Number of Respondents by Zip Code int Helend 6anta. a 1 iro pol Yountolle RohnOt Park Vacaville Napa P 1 Fai eld Elk r � Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J lonerIxksun eta 1 �{d AmericanSan Al Canyon Rro Vista t —A —- Ldp Novato valre1io r'7 e�enicla Hes[ules Martinez Antioch R'Creek 2 1 1 2 Mc nta,n Manteca Euakan 50 g House t r � 7 2 racy Ripon Rrvrrtyank 4 4 t 1 }4�od45t0- Ceres t 40 5 I 4 6 __ Turlock Patterson \ 6 � 1 3 Lrvtngs�t 30 13 1 5 4 s L1 11 N � n f"'7 9 2 j2 9 4 7 1 2 1 v 4 ` 20 1 ot[s• alley ruz 1 10 WatsonvillJ-_ Holln'ter Prunedale Q2. What is the name of your employer? (This information will help us analyze commuting patterns for the four main types of employers [service, technology, light office, and government] in Palo Alto.) Employer names were organized into four main sectors of employers in Palo Alto, as seen in Figure 9. 7 Item 14: Staff Report Pg. 48 Packet Pg. 233 of 254 Figure 9: Survey Respondents by Sector SURVEY RESPONDENTS BY SECTOR ■ Service ■ Government Technology Light Office Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey Note that the number of survey respondents from the technology sector is higher this year than last. On May 1, 2023, Amazon offices in Downtown required employees to return to office. Q3. How do you usually travel to work? If you use more than one type of transportation, choose the one used for the longest distance of your trip. Many commuters use more than one type of transportation for commuting. To be able to compare this year's data with previous years' data, we asked people about the main commute mode they use for the longest segment of their trip. Figure 10 provides information about the primary commute mode. Item 14: Staff Report Pg. 49 Packet Pg. 234 of 254 Figure 10: Primary Commute Mode Ln N N 'i ll�i ��llll ll9� r � Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J 0 0 N N IIm o 0 DRIVE ALONE TRANSIT CARPOOL BIKE WALK TELECOMMUTE OTHER Figure 11 divides this data by sector for 2023 to allow comparisons between government, light office, service, and tech sectors. Figure 11: Commute Mode by Sector m N Lfl o . COMMUTE MODE BY SECTOR ■ Service ■ Government ■ Tech ■ Light Office • .ffl m • N N III iII. N I N 0 N N 1, ,., DRIVE AL. TRANSIT CARP BIKF WALK TELECOMMUTE OTHER E Item 14: Staff Report Pg. 50 Packet Pg. 235 of 254 A comparison of commute modes over the past several years is shown in Figure 12: Changes in Commute Mode, 2015-2018 CHANGES IN COMMUTE MODE 2015-2018 ■ 2015 ■ 2016 ■ 2017 ■ 2018 Ln LO m 1 , `n o Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J 0 N N I ...I I 0 0 • 0000 N N N ,-I o 0 N N N ii'I liii liii DRIVE ALONE TRANSIT CARPOOL BIKE/WALK TELECOMMUTE Starting in 2019 when PATMA brought the commute survey in-house, data was collected for biking and walking separately. Figure 13: Changes in Commute Mode, 2019-2023 DRIVE ALONE CHANGES IN COMMUTE MODE 2019-2023 ■ 2019 ■ 2021 ■ 2022 ■ 2023 N V N N I , ; ' 1 TRANSIT CARPOOL 00 N NN o 0 0 00 lf) o Vl Vl III ■11■ BIKE WALK TELECOMMUTE 10 Item 14: Staff Report Pg. 51 Packet Pg. 236 of 254 Q4. If you drive alone to work, what are your main reasons for doing so? ( • Live too far from work (177) • Prefer to drive my own car (118) • Might need to get home quickly for an emergency (96) • Work too early or too late to take mass transit (91) • Need to pick up or drop off children before or after work (70) • Need my car during work (47) • Feel alternatives like bicycling are unsafe (37) Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J Many people find driving their own vehicles more convenient and faster, depending on where they live, or if they have outside obligations before or after work. Yet, many people who drive are open to alternatives. Q5. If you drive alone to work, which of the following sustainable commute modes are you open to taking? Among workers who identify as single occupancy vehicle drivers, Figure 13 shows that nearly three-quarters are open to a sustainable commute mode of carpooling, vanpooling, mass transit, bicycling, or walking. Figure 13: Single Occupancy Vehicle Drivers Open to a Sustainable Commute OPEN TO SUSTAINABLE COMMUTE ■ Carpool - 17% ■ Vanpool - 8% ■ Transit - 33% ■ Bicycle - 13% ■ Walk - 3% ■ None, I prefer driving - 18% ■ Not applicable - 4% Other - 3% ■ Telecommute - <1% ■ Uber/Lyft - <1% 11 Item 14: Staff Report Pg. 52 Packet Pg. 237 of 254 Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Q6. If you drive alone to work, is your home located less than one mile froril Annual Report, 2024 VTA 22/522 bus stop, Sam Trans ECR bus stop, or Dumbarton Express bus s Strategic Plan, and 2023 k, Commute Survey J Survey respondents who drive to work but who live a walkable distance from a major mass transit option into Downtown Palo Alto may find it easier to take transit than those who do not. Figure 14 depicts respondents who live near transit. Figure 14: Single Occupancy Vehicle Drivers Who Live Less than 1 Mile from Transit LIVE < 1 MILE FROM TRANSIT A N NOT APPLICABLE Among those who drive alone to work, 122 report that they live less than one mile from a transit option that runs to Palo Alto, which is 16.5% of survey respondents. Q7. If you live less than 5 miles from work, are you open to switching to an active mobility mode (bicycle, electric bicycle, scooter, or electric scooter) for commuting? Bicycles, electric bicycles, scooters, and electric scooters offer active commutes for workers who live in nearby cities. The following number of people may be open to an active commute. 12 Item 14: Staff Report Pg. 53 Packet Pg. 238 of 254 Figure 15: Workers Who Live Nearby and Are Open to an Active Commute IF LIVE LESS THAN 5 MILES, ARE YOU OPEN TO AN ACTIVE COMMUTE? r � Item 14 Attachment A - Finance Committee Staff Report on 2023 Palo Alto TMA Annual Report, 2024 Strategic Plan, and 2023 Commute Survey J liii NOT APPLICABLE YES NO I'M THINKING ABOUT I ALREADYDf IT Among the 738 survey respondents, 59 people or 8% live less than five miles from work and are open to an active commute. Q8. What is your annual salary? The threshold for participation in PATMA's free transit pass program is $70,000. Figure 16 shows that more than half of respondents make less than $70,000. Figure 16: Respondents' Annual Salary ANNUAL SALARY OF RESPONDENTS ■ More than $70,000/year ■ Less than $70,000/year 13 Item 14: Staff Report Pg. 54 Packet Pg. 239 of 254 Item 14 Attachment A - Finance Committee Staff Report Q9. PATMA staff is available to share information about sustainable comm on 2023 Palo Alto TMA may benefit you. Would you like information about trains, buses, shared Ly Annual Report, 2024 Link, or bicycling incentives? Strategic Plan, and 2023 Commute Survey In the survey, 305 respondents, or 42%, answered "yes." Q10. Are there any issues or concerns you would like to share about your commute? Question 10 gave respondents an opportunity to share insights and feedback related to their commute. Major themes in the hundreds of responses include: • Traffic seems as bad as it was pre -pandemic. • With the Return to Office, some workers are commuting to the office a few days/week even though they feel they can effectively do their work from home. • For people driving to work, the cost of gas and bridge tolls as well as parking issues are challenging. • Many workers have concerns about the reliability and timeliness of trains and buses. • Some workers shared concerns about wait times between trains and buses from different mass transit agencies. • Some requested more weekend and early morning bus service. • Some workers requested faster and more direct sustainable transportation options from the East Bay (Fremont and Hayward), North San Jose, and south of the San Jose Diridon Caltrain station including from Los Banos. • Several people expressed a wish that they could afford to live closer to Palo Alto in order to take sustainable commute options to work. • Respondents who are ineligible for free transit passes expressed concern about the expense of transit. • A few people mentioned concerns about personal safety at the Downtown transit center and concern about bike theft on the train. Among respondents who are happy with the free transit pass program, their comments included: • I use the TMA Caltrain pass and it has been amazing. Plus I get my steps in. I tell everyone I know how great this program is! • I use the bus in the morning to get to the train. I walk to the bus from my home. I like riding the bus and train because of the interesting people I meet. One time I left my wallet on the train and they called me to let me know they had my wallet. Good people. • No issues. I really enjoy that we have the opportunity to receive free bus passes. It really helps out a lot. • I like taking Caltrain because it goes closer to where I need to go compared to the bus. • I love taking Caltrain! 14 Item 14: Staff Report Pg. 55 Packet Pg. 240 of 254 Item 14 Attachment A - Finance Committee Staff Report • So thankful for the Caltrain pass. on 2023 Palo AltoTMA Annual Report, 2024 Through the commute survey a dozen respondents requested better bicyc Strategic Plan, and 2023 Commute Survey • More bike lanes :) • I wish we had wider bike paths on all our main roads. • No bike lane on Alma overpass of University. No bike lanes on Alma south of University. Poor bike path signage on Embarcadero Bike Path from Caltrain south platform to across University to El Walk Fields path or Palm Drive/Stanford University path. • Cycling can be quite dangerous at times. Lytton Ave has a bike lane but only for part of the journey. Crossing Middlefield can be a little dangerous. • Bikes being ridden on the sidewalks is a problem, and driverless cars are unnerving. • Middlefield Road, south of Willow Rd, has no dedicated bicycle lane. Can the lane markings be moved so there is a dedicated bicycle lane, at least from University Ave, north to Willow? • Southgate Neighborhood streets (including the bike boulevard) are too narrow for a car and a bike to pass head-on when cars are parked on both sides. This is a hazard for emergency vehicles too. I recommend red curb (no parking) be added on one side of these Southgate neighborhood streets. • I live and work very close to the freeway so driving is a far easier option for me than using transit. I'd love to bike to work someday when my kids are older and more independent. • Bike safety. Palo Alto is nice and safe for bikers, but riding through other cities (e.g. Redwood City) is not great due to road conditions and traffic. • Bike lanes are not well maintained. • Bicycles do not follow the rules of the road. They do not stop at stop signs. • At work we need bike parking and charging outlet for e -bikes, and bike equipment lockers. Key Insights • The changes in commute mode between 2022 and 2023 were not as dramatic as the changes from 2021 to 2022. • With a return to office (RTO) in 2023, there are fewer people telecommuting full-time and more people coming into the office for at least part of the week. • The pandemic altered traffic volume and patterns but now traffic congestion is perceived to have increased to near pre -pandemic levels. • Mass transit ridership continues to grow although many riders have concerns about the frequency and reliability of service as well as connectivity between different buses and trains. • Many workers live near transit options and are open to taking transit. 15 Item 14: Staff Report Pg. 56 Packet Pg. 241 of 254 Item 14 Attachment A - Finance Committee Staff Report • People who live in the East Bay, North San Jose, and points south w on 2023 Palo AltoTMA mass transit options. Annual Report, 2024 • There appears to be interest in active mobility commuting but also Strategic Plan, and 2023 bike safety on the roads. Commute Survey • Many people who live within five miles of work are open to an active commute. Conclusions Given the openness of respondents to sustainable commute modes and the proximity of their homes to either transit options or their workplace, survey results point to opportunities to mode shift more workers who commute to Palo Alto by providing information, equipment, and rewards. Some people would benefit from more availability of bikes, electric bikes, and electric scooters for commutes of less than five miles. Others just need information about real time train and bus arrivals, Guaranteed Ride Home availability, rapid bus schedules and routes, and safer bicycle routes between home and work. And finally, any incentives or rewards, such as Bike Love rewards, would provide an additional nudge toward a more sustainable commute. 16 Item 14: Staff Report Pg. 57 Packet Pg. 242 of 254 Item 15 Item 15 Staff Report City Council Staff Report From: City Manager CITY O F Report Type: INFORMATION REPORTS PALO Lead Department: Public Works ALTO Meeting Date: May 20, 2024 Report #:2404-2840 TITLE Staff Report - Quarterly Information Report on Sustainability and Climate Action Plan (S/CAP) Implementation; CEQA status - Not a Project RECOMMENDATION No Council action is required. This is an update on Sustainability and Climate Action Plan (S/CAP) Implementation Progress through the first quarter of calendar year 2024. It is provided to give the City Council and public an overview of S/CAP workplan items status since adopted by Council in June of 2023. EXECUTIVE SUMMARY Consistent with Council's adoption of "Climate Change & Natural Environment: Protection and Adaptation" as one of the four priorities for calendar year 2024, staff is implementing the Sustainability and Climate Action Plan (S/CAP) to help the City meet its sustainability goals, including its goals of reducing greenhouse gas (GHG) emissions 80% below 1990 levels by 2030 (the "80 x 30" goal) and achieving carbon neutrality by 2030. This is the third quarterly S/CAP Implementation update. Highlights of Q1 2024 progress include: Climate Action • As of March 28, 2024, 282 residents had signed contracts to get a heat pump water heater (HPWH) installed through the full -service HPWH program; 66 of these projects applied for on -bill financing. In addition, in Q1, 20 residents installed heat pump water heaters on their own, receiving a rebate from the City. • Eleven customers participated in the City's Residential Energy Assistance Program (REAP) to receive energy and water efficiency improvements at no cost. In addition, 19 REAP customers have had a site assessment to receive a HPWH at no cost and are awaiting installation. • Twelve multi -family properties representing 452 housing units have installed EV chargers facilitated through the City's EV programs. • The City launched a Spring Forward, Ca$h Back business rebate program to encourage local businesses to participate in the Business Energy Advisor (BEA) Program. • Palo Alto Link, the city's eco-friendly rideshare service, provided 14,620 completed Item 15: Staff Report Pg. 1 Packet Pg. 243 of 254 Item 15 Item 15 Staff Report rides, averaging 225 completed rides per service day. • The City implemented key programs of the Housing Element before the State's January 31, 2024 deadline. • The City received delivery of 13 new Chevy Bolt Electric Vehicles, which replaced internal combustion engine fleet vehicles. • The City held three Electric Vehicle workshops, one E -bike workshop, a Planning a Simple Native Garden for Beginners Workshop, a compost workshop, and a Repair Cafe. Sustainability • Since O4 2023, the percentage of customers who have accessed the WaterSmart portal increased from 17% to 22%. • In January 2024, City Council adopted an ordinance authorizing improvements to the Palo Alto Baylands as part of the Horizontal Levee Pilot Project. • In January 2024, City Council reviewed the Tree Protection Ordinance, which began in July 2022. During the first year of implementation, staff made note of code sections that caused confusion or did not work as originally intended and provided recommendations to City Council on proposed changes to Palo Alto Municipal Code. In February, City Council reviewed the second reading of the ordinance amending Chapter 8.04 and Chapter 8.10 of the Palo Alto Municipal Code. City Council will review the Ordinance again in April. • As part of the new Zero Waste Living outreach campaign, the City published thirteen Zero Waste Minute e -newsletters in 01 2024. BACKGROUND In April 2016, the City Council adopted the goal of reducing GHG emissions 80% below 1990 levels by 2030 (the "80 x 30" goal),' and in October 2022 Council adopted the ambitious goal of achieving carbon neutrality by 2030.2 Staff, with community and Council input, referred to the 2016 Sustainability and Climate Action Plan (S/CAP) Framework and 2018-2020 Sustainability Implementation Plan to create a comprehensive S/CAP and Three- Year S/CAP Workplan. In June 2023, Council adopted the 2022 Sustainability and Climate Action Plan,3 certified the Comprehensive Plan Environmental Impact Report Addendum: Update to the Sustainability and 1 City Council, April 18, 2016; Agenda Item #10; SR #6754, https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/reports/city-manager-reports- cmrs/year-archive/2016/id-6754. pdf 2 City Council, October 3, 2022; Agenda Item #9; SR #14720, https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/agendas-minutes/city-council- agendas-minutes/2022/20221003/20221003accsm-amended-presentations.pdf#page=131 3 2022 Sustainability and Climate Action Plan; https://www.cityofpaloalto.org/files/assets/public/v/1/sustainability/reports/2022-scap-report final.pdf Item 15: Staff Report Pg. 2 Packet Pg. 244 of 254 Item 15 Item 15 Staff Report Climate Action Plan,4 and accepted the 2023-2025 S/CAP Workplan.5 The S/CAP is an ambitious plan to reduce the city and community's GHG emissions, while also guiding how Palo Alto uses land and natural resources in ways that ensure quality of life for future generations. The first S/CAP implementation update included progress through Q3 2023 and was introduced in November.6 The second S/CAP Implementation updated included progress through Q4 2023 and was introduced in February.7 The 2022 S/CAP and 2023-2025 S/CAP Work Plan align with one of the four Council Priorities for CY 2024: "Climate Change & Natural Environment: Protection and Adaptation". In addition, there are several overlapping Council Priority Objectives, the status of which can be found in the 2023 Council Priority Objectives O4 Report.$ This report references the Council Priority Objectives in parentheses where applicable. ANALYSIS The City is committed to a sustainable future. The City owns, operates, and maintains a full - service utilities portfolio that provides electric, natural gas, fiber, water, refuse, and wastewater services to residents and businesses in Palo Alto. Palo Alto's continued leadership in advancing sustainability commitments has succeeded mainly because of the continued collaboration of community stakeholders, City departments, and the leadership of the City Council. The S/CAP Goals and Key Actions are divided into eight areas, four of which are climate -focused and include actions to achieve the city's 80 x 30 and carbon neutrality by 2030 goals (Climate Action, Energy, Electric Vehicles, and Mobility) and four of which are focused on actions that create a sustainable natural environment and adapting to a warming climate (Water, Climate Adaptation & Sea Level Rise, Natural Environment, and Zero Waste). The Work Plan is similarly divided between climate -focused and sustainability-focused priorities. There are 23 Council Priority Objectives in Council Priority Area Climate Change and The Natural 4 Comprehensive Plan Environmental Impact Report Addendum: Update to the Sustainability and Climate Action Plan, 2023; https://www.cityofpaloalto.org/files/assets/public/v/1/agendas-minutes-reports/agendas- minutes/city-council-agendas-minutes/2023/2023comp re hens lye- plan -environmental -impact -report -addendum - update-to-the-scap. pdf 5 2023-2025 S/CAP Workplan, 2023; https://www.cityofpaloalto.org/files/assets/public/v/1/sustainability/reports/2023-2025-scap-work-plan final.pdf 6 City Council, November 13, 2023; Agenda Item #11; SR # 2308-1901, https://www.cityofpaloalto.org/files/assets/public/v/1/sustainability/reports/cy2023-g3-informational-report-on- sustianability-and-climate-action-plan-scap.pdf City Council, February 5, 2024: Agenda Item #15; SR # 2312-2348, https://www.cityofpaloalto.org/files/assets/public/v/1/sustainability/reports/cV2023g4-informational-report-on- sustainability-and-climate-action-plan-scap.pdf 8 City Council, January 29, 2024; Agenda Item #2A; SR #2401-2526, https://cityofpa loa Ito. pri megov.com/Portal/viewer?id=0&type=7&u id=e2acdc3 b -a 774-4838-8157-4429fee07577 Item 15: Staff Report Pg. 3 Packet Pg. 245 of 254 Item 15 Item 15 Staff Report Environment (CC&NE). This report addresses 16 of those Council Priority Objectives, as well as two in Council Priority Area Community Health, Safety, Wellness, and Belonging (CHSW&B): Climate Change and the Natural Environment (CC&NE) Climate Change Protection • 14 CC&NE: Conduct community engagement and data collection and analysis to develop a Safe Streets for All (SS4A) Safety Action Plan for Council approval in 2024 • 15 CC&NE: Continue community engagement efforts to inform the update and receive Council feedback on the 2025 Bicycle and Pedestrian Transportation Plan (BPTP) characteristics in preparation for next steps including environmental review and adoption in 2025 • 16 CC&NE: Complete initial pilot area of electric grid modernization • 18 CC&NE: Continue to improve the Advanced Heat Pump Water Heater Pilot Program in preparation for a full-scale program • 19 CC&NE: Adopt a residential whole home electrification pilot program • 20 CC&NE: Refine existing HVAC pilot program to encourage participation as a next step toward a 2025 Council approved commercial rooftop HVAC electrification advanced pilot program • 21 CC&NE: Develop and approve an Electric Vehicle Strategic Plan • 22 CC&NE: Develop an EV Replacement Program for the City Fleet • 23 CC&NE: Develop and initiate implementation of a Reliability and Resiliency Strategic Plan • 24 CC&NE: Develop draft S/CAP funding study with Council input • 25 CC&NE: Evaluate and report out Palo Alto Link pilot performance and consider continuation and/or expansion of future services • 26 CC&NE: Begin community engagement to consider parking policy updates that enhance customer satisfaction, improve program sustainability, and aligns with S/CAP mobility goals • 27 CC&NE: Amend local building regulations to establish a "One Margin" energy efficiency standard, to allow installation of natural gas plumbing while imposing more stringent energy efficiency and all -electric readiness requirements to all new buildings • 28 CC&NE: Initiate the 2026 California Building Standards Code update, including the California Green Building Standards Code • 29 CC&NE: Complete community engagement for the Airport's Long -Range Facilities & Sustainability Plan in accordance with Federal requirements and hold a study session with Council on the draft plan Climate Change Adaptation: Flood Protection • 33 CC&NE: Coordinate with Federal and regional partners on a path forward exploring the development of a Sea Level Rise Adaptation Plan Item 15: Staff Report Pg. 4 Packet Pg. 246 of 254 Item 15 Item 15 Staff Report Community Health, Safety, Wellness, and Belonging (CHSW&B) Invest in Reliable Safety Infrastructure and Systems • 70 CHSW&B: Approve updated Local Hazard Mitigation Plan and Community Wildfire Protection Plan • 71 CHSW&B: Update Foothills Fire Management Plan Climate Action Covering the S/CAP Areas of Climate Action, Energy, Electric Vehicles, and Mobility, this section reports on progress based on the Work Plan Climate Action Priority areas. The City began work on a "One Margin" energy efficiency standard (27 CC&NE), in light of the temporary moratorium on enforcement of Palo Alto's current all -electric new construction requirement.9 A "One Margin" reach code applies additional efficiency requirements to all new buildings, but takes into account energy use at the source, which favors the additional efficiency and lower emissions of all -electric equipment using carbon neutral electricity. It uses standard energy modeling practices to set its requirements rather than novel approaches like local air -quality standards. It does not discriminate between gas and electric appliances like an "Electric -preferred" code. Staff will bring a reach code amendment to City Council this year. Because the next building code cycle is for 2026-2028, the interim One Margin code will only be in effect for approximately one year. Staff is evaluating potential regulatory approaches for City Council to consider with the next cycle of the Building Code regulations that are slated to come to Council in 2025 (28 CC&NE). P1. Grid Modernization (16 CC&NE) The focus of Priority 1 is to complete the grid modernization plan and begin construction to increase reliability and transformer capacity for electrification. The City's grid modernization project is meant to prepare the grid for widespread electrification in support of the S/CAP 80 x 30 goal, as well as to improve reliability, replace aging infrastructure, and modernize the grid to accommodate higher penetration of solar, storage, and other technologies. The grid modernization pilot is underway and involves 1,200 homes centered in the northeast part of Palo Alto within Embarcadero Road, Louis Road, Colorado Avenue, Greer Road, and West Bayshore Road. In February 2024, City Council reviewed the draft Reliability and Resiliency Strategic Plan (23 CC&NE), which is intended to address the need for a reliable, well maintained electric system with enhanced reliability to support an electrified community and a desire among residents for ways to maintain some level of electric supply during outages.1° The City Council will vote on 9 City Council, February 26, 2024; Agenda Item #14; SR #2402-2644, https://cityofpaloaIto.primegov.com/Portal/viewer?id=0&type=7&uid=8ac11983-10ba-4a79-a823-3693203c22d7 10 City Council, February 12, 2024; Agenda Item #1; SR #2311-2211, https://cityofpaloaIto.primegov.com/Portal/viewer?id=0&type=7&uid=1437d776-f5ce-4d 15-82d0-ad5dca3861b0 Item 15: Staff Report Pg. 5 Packet Pg. 247 of 254 Item 15 Item 15 Staff Report approving the Reliability and Resiliency Strategic Plan at the April 15, 2024 Council Meeting. P2. Launch Programs The focus of Priority 2 is to launch effective programs for emissions reductions with the highest impact and lowest cost such as single-family electrification, strategic promotion of EVs, commercial rooftop HVAC, and expanded transportation alternatives. P2.1. Residential Emissions Reduction • The City launched the Full -Service Heat Pump Water Heater (HPWH) Pilot Program in March 2023 (18 CC&NE). As of March 28, 2024, 282 residents had signed contracts to get a heat pump water heater installed through the full -service HPWH program; 66 of these projects applied for on -bill financing. In addition, in Q1, 20 residents installed heat pump water heaters on their own, receiving a rebate from the City. With the current pace of new signups, the City is on a pace to complete around 300 installations per year, equivalent to about 30% of the water heaters replaced each year. The City continues to expand outreach and improve the program in preparation for a full-scale program (19 CC&NE). In addition, the City is reviewing proposals for a Water Heater Emergency Replacement Program. • The City's Residential Energy Assistance Program (REAP) for income -qualified customers continues to reach our most vulnerable population, offering energy and water efficiency improvements at no cost to the customer. In 01 2024, 11 customers participated in the REAP program. Additionally, 19 REAP customers have had a site assessment to receive a HPWH at no cost and are awaiting installation. • The City held three Electric Vehicle workshops and one E -bike workshop in 01. Events have included thirteen EV Expos, four financial incentive clinics in multiple languages (Spanish, Vietnamese, Russian, Mandarin and Cantonese), a month -long EV discount campaign, three e -bike workshops, an e -bike test ride event, and two e -bike discount campaigns. • The City continues to build out EV infrastructure and expand access in affordable housing and multi -family buildings. As of March 2024, 12 multi -family properties representing 452 housing units (about 4% of all multi -family units in Palo Alto) have installed EV chargers facilitated through the City's EV programs. P2.2. Non -Residential Emissions Reduction (20 CC&NE) • The City launched a Spring Forward, Ca$h Back business rebate program" to encourage local businesses to participate in the Business Energy Advisor (BEA) Program. As part of the program, the City boosted all efficiency incentives by 20% for BEA customers who complete projects by May 31St, 2024. P2.3. Citywide Mobility • Between January 1, 2024 and March 31, 2024, Palo Alto Link, the city's eco-friendly 11 February 2024; Spring Forward, Ca$h Back, https://www.cityofpaloalto.org/files/assets/public/v/1/utilities/bill- inserts/spring-forward-cash-back.pdf Item 15: Staff Report Pg. 6 Packet Pg. 248 of 254 Item 15 Item 15 Staff Report rideshare service, provided 14,620 completed rides, averaging 225 completed rides per service day (25 CC&NE). The top locations for riders were Stanford Research Park, Palo Alto High School, and Gunn High School. Seniors continue to represent a key ridership demographic for Palo Alto Link. City Council heard a study session on Palo Alto Link in February 202412 and will review a Palo Alto Link One -Year Service Evaluation in April 2024.13 • On March 25, 2024, the City enhanced Palo Alto Link by offering teenagers select rides for free. Teens can now ride to specific destinations supporting teen mental health and wellbeing for free. 14 • In January 2024, City Council reviewed a Bicycle and Pedestrian Transportation Plan Update (15 CC&NE), including various elements of the existing conditions and needs analysis.15 • The City met with several California cities to learn about their experiences with micro - mobility options, including piloting bike/scooter share programs and neighborhood mobility hubs to provide last -mile connections. The City also began researching options for a Staff E -bike Pool Program. • The City began development of a road safety plan, "Safer Palo Alto", funded by a Safe Streets for All grant (14 CC&NE). Safer Palo Alto plan development is critical to reaching Sustainability and Climate Action Plan (S/CAP) goals because improving safety for vulnerable road users is key to reducing vehicle miles traveled (VMT) and increasing green travel. In February, the Planning and Transportation Commission reviewed a Safe Streets for All (SS4A) Action Plan Collision Analysis.16 • The 6th Cycle 2023-2031 Housing Element (Housing Element) was adopted by the City Council on May 8, 2023 and submitted to the state Housing and Community Development Department (HCD) on June 7, 2023. Staff received additional comments from HCD on the adopted Housing Element17. The Housing Element was revised based on these comments and released for public comment. The revised Housing Element was adopted by the City Council, upon recommendation by the Planning and Transportation Commission, at a joint meeting on April 15, 2024. The adopted Housing Element, with minor modifications directed by Council, will be sent to HCD for review and certification consideration. 12 City Council, February 6, 2024; Agenda Item #1, https://cityofpaIoaIto.primegov.com/Portal/viewer?id=589&type=2 13 City Council, April 1, 2024; Agenda Item #3, SR #2401-2535, https://cityofpa Ioa Ito. pri megov.com/Portal/viewer?id=0&type=7&u id=70974076-d908-4ee3-b797-2e174e0f925a 14 Palo Alto Link Teen Service, March 25, 2044; https://www.cityofpaloalto.org/Departments/Community- Services/Teen-Services/Palo-Alto-Link-Teen-Service 15 City Council, January 22, 2024; Agenda Item #14; SR #2312-2331, https://cityofpa loa Ito. pri megov.com/Portal/viewer?id=0&type=7&u id=c1e4514d-05fd-4a07-9b94-8e93f73f1ba 1 16 Planning and Transportation Commission, February 28; Agenda Item #2; SR #2402-2630, https://www.cityofpaloalto.org/files/assets/public/v/1/agendas-minutes-reports/agendas-minutes/planning-and- tra nsportation-commission/2024/ptc-2.28-safe-streets.pdf 17 Palo Alto Housing Element, April 2024; https://paloaltohousingelement.com/ Item 15: Staff Report Pg. 7 Packet Pg. 249 of 254 Item 15 Item 15 Staff Report • In December 2023 and January 2024, the City implemented key programs of the Housing Element before the State's January 31, 2024 deadline. This involved adopting Municipal Code amendments to rezone and adjust development standards for consistency with the Housing Element site inventory, and to provide a process for by - right review and approval of certain Housing Element sites. P2.4. Municipal Electrification • In 01 2024, the City received delivery of 13 new Chevy Bolt Electric Vehicles, which replaced internal combustion engine fleet vehicles. There are 28 EVs in the City fleet, or about 15% of the passenger vehicles and light duty trucks and vans (22 CC&NE). • There are currently 99 City -owned EV chargers, with a total of 131 charging ports. 10 of those chargers are dedicated to City vehicles, while the rest are primarily for public use. A total of 7 ports were recently added, including at Cubberley Community Center, Utilities Engineering, and the Municipal Service Yard. P2.5. EV Strategic Plan (21 CC&NE) • In June 2023, Council approved policy guidelines for an Electric Vehicle Strategic Plan. In Q1 2024, the City's consultant completed an EV Adoption Scenario brainstorm. This plan is part of the S/CAP Funding Study (see P5. Funding Needs and Sources). P3. Build Awareness and Confidence The focus of Priority 3 is to build community awareness and confidence in electrification through engagement, addressing concerns, and program results. • The City completed data collection for the 2022 Greenhouse Gas Inventory. The 2022 Community Greenhouse Gas Inventory will be completed in May, and the 2022 Municipal Greenhouse Gas Inventory will be completed in July. • Staff continues to publish a monthly Climate Action Blog and a Quarterly Sustainability Newsletter. In Q1 2024, the City published a January18 and February19 Climate Action Blog; and a February20 Sustainability Newsletter. The February Sustainability Newsletter had a 57% open rate, which is the percentage of readers that open the e-mail you send them. The average open rate for electronic newsletters is 21.5%. • In 01, the City held three Electric Vehicle workshops, one E -bike workshop, a Planning a Simple Native Garden for Beginners Workshop, a compost workshop, and a Repair Cafe. Staff provided information on the HPWH program at the Lunar Year Year Fair, a Neighborhood Town Hall Meeting, and the Downtown Palo Alto Farmer's Market. • In March, the Climate Protection Ad Hoc Committee21 held a Working Group meeting discussing the S/CAP Funding Study, the Reliability and Resiliency Strategic Plan, and the 18 Climate Action Blog, January 2024; https://medium.com/paloaltoconnect/progress-on-sustainability-and- climate-action-goals-d714f7d7f056 11 Climate Action Blog, February 2024; https://medium.com/paloaltoconnect/climate-action-blog-emergency- preparation-in-an-electric-future-133d3ca298a4 20 Sustainability Newsletter, February 2024; https://myemail.constantcontact.com/Sustainability-Newsletter- February-2024.html?soid=1138677832922&aid=X2xDcyszQ Q 21 Climate Protection Ad Hoc Committee, https://www.cityofpaloalto.org/Departments/City-Clerk/City-Council- Committees/Climate-Protection-Ad-Hoc-Committee Item 15: Staff Report Pg. 8 Packet Pg. 250 of 254 Item 15 Item 15 Staff Report 2024 City Council Priority Objectives. • The City completed a proposal for a Youth Climate Advisory Board and hopes to launch that later this year. • The City is updating the Palo Alto Airport Long -Range Facilities and Sustainability Plan (LRFSP), in accordance with Federal Aviation Administration requirements (29 CC&NE). The City held three public meetings in 2023 on the LRFSP22. In 01 2024, the City held the fourth public meeting in February 2024. At that meeting, participants reviewed facility requirements, environmental and sustainability considerations, and draft airport alternatives. In addition, the City introduced the concept of runway location and levees as a result of sea level rise. P4. Additional Emissions Reductions (24 CC&NE) The focus of Priority 4 is to identify an additional 9% in emissions reduction opportunities to achieve 80 x 30. • The City is developing a comprehensive plan to gather ideas from community members and experts about new technologies and potential approaches to additional emissions reductions in Palo Alto. More work will be done when the S/CAP Funding Study is completed. • As part of the S/CAP Funding Study, the City plans on identifying potential building electrification measures for commercial and multi -family buildings and to prioritize the most cost-effective approaches to achieving the additional emissions reductions needed to achieve 80 x 30. P5. Funding Needs and Sources (24 CC&NE) The focus of Priority 5 is to identify, by 2024, funding needed and potential funding sources for full scale implementation of the highest impact emissions reductions. • At the January 16 Council Meeting, City Council approved a professional services contract with Energy and Environmental Economics, Inc. (E3) for the S/CAP Funding Study.23 The S/CAP Funding study will assess the funding needs and explore funding sources to meet Palo Alto's building and transportation electrification goals and will center around the development of an analytical model to estimate the "community cost to electrify" and to structure the financing of future electrification programs. Since then, E3 has completed data collection, conducted a funding model workshop, completed an EV Adoption Scenario brainstorm, drafted an S/CAP funding model framework, drafted a funding source survey, and presented to the Climate Protection Ad Hoc Committee Working Group. 22 Palo Alto Airport Long Range Facilities & Sustainability Plan (LRFSP), https://www.cityofpaloalto.org/Departments/Public-Works/Palo-Alto-Airport/Palo-Alto-Airport-Long-Range- Facilities-Sustainability-Plan-LRFSP 23 City Council, January 16, 2024; Agenda Item #4; SR #2308-1939, https://cityofpaloaIto.primegov.com/Portal/viewer?id=0&type=7&uid=0e530b89-bae8-4971-93d5-849d82973b6e Item 15: Staff Report Pg. 9 Packet Pg. 251 of 254 Item 15 Item 15 Staff Report Sustainability The Sustainability section of the work plan includes the following S/CAP Areas: Water, Climate Adaptation & Sea Level Rise, Natural Environment, and Zero Waste. Water: Further Water Conservation The near -term focus for water is reducing water consumption while exploring ways to capture and store water and increase the availability and use of recycled water. • Since O4 2023, the percentage of customers who have accessed the WaterSmart portal, a water management tool which provides residents information about their water consumption and personalized water conservation measures, increased from 17% to 22% in 01 2024. In O3 2023, 15% of customers accessed the WaterSmart portal. In addition, through this program, home water reports are sent to around 11,000 single- family customers on a monthly basis. A control group of around 4,000 single-family customers currently do not get the reports. In 01 2024, the average open rate of home water report emails was 73%. • The Regional Water Quality Control Plant (RWQCP), which protects the San Francisco Bay by cleaning and treating wastewater before it is discharged into the bay, continues its work on the Advanced Water Purification System design, which will reduce the salinity of treated water used for irrigation. Climate Adaptation and Sea Level Rise: Prepare for Climate Change (33 CC&NE) The near -term focus for Climate Adaptation and Sea Level Rise is to develop and adopt a multi- year Sea Level Rise Adaptation Plan and minimize wildland fire hazards through Foothills Fire Management Plan implementation, zoning, and collaborating with Fire agencies. • In January 2024, City Council adopted an ordinance authorizing improvements to the Palo Alto Baylands as part of the Horizontal Levee Pilot Project.24 Horizontal levees are a green, nature -based, multi -beneficial alternative to traditional greyscape solutions (e.g. rip rap, sheet piling) for wave attenuation on the bayside of flood control levees. Since 2017, the City has been working in collaboration with the Association of Bay Area Governments to design and eventually construct the Palo Alto Horizontal Levee Pilot Project on the east side of Harbor Road near Byxbee Park. • The Army Corps of Engineers concluded its Shoreline II Feasibility Study which assessed federal interest in funding shoreline protections such as levee improvements. The USACE determined that there is no federal interest at this time for funding shoreline improvements and will close out the study in O2 2024. Staff is meeting with Valley Water to determine other potential collaboration efforts for sea level rise protection. • Staff is participating in regional discussions and focus groups that will inform requirements for SB272 Regional Sea Level Rise planning requirements and aligned subregional plans. These efforts will specifically inform requirements and next steps for Palo Alto's own sea level rise planning efforts (33 CC&NE). 24 City Council, January 22, 2024; Agenda Item #5, SR #2303-1230, https://cityofpaIoaIto.primegov.com/Portal/viewer?id=0&type=7&uid=da4264ea-77a8-4485-abd9-17c0987ccb67 Item 15: Staff Report Pg. 10 Packet Pg. 252 of 254 Item 15 Item 15 Staff Report • The City is working to continue progress where possible for sea level rise planning (33 CC&NE). The City signed a Sea Level Rise Coalition Letter to the California State Legislature, urging them to preserve funding for sea -level rise protection in the State budget. In addition, the City submitted an individual letter regarding the Governor's proposed cuts to Bay Area shoreline restoration and flood protection projects. • Staff prepared a professional services agreement to update the Palo Alto Foothills Fire Management Plan and Community Wildfire Protection Plan (CWPP) and combine both plans into one document to integrate the wildfire mitigation efforts among the Palo Alto community (71 CHSW&B). The City is reviewing proposals and anticipates completion of the update in Q2 2024. • The federal Disaster Mitigation Act of 2000 requires all cities, counties, and special districts to adopt a Local Hazard Mitigation Plan (LHMP) to receive disaster mitigation funding from the Federal Emergency Management Agency (FEMA). The City is working on an update to the 2017 Local Hazard Mitigation Plan (70 CHSW&B). Natural Environment: Enhance Biodiversity The near -term focus for Natural Environment is to increase Palo Alto's Tree Canopy, reduce pesticide usage in parks and open space preserves, and support the Green Stormwater Infrastructure Plan and incorporate it in municipal projects. • In January 2024, City Council reviewed the Tree Protection Ordinance, which began in July 2022.25 During the first year of implementation, staff made note of code sections that caused confusion or did not work as originally intended and provided recommendations to City Council on proposed changes to Palo Alto Municipal Code. In February, City Council reviewed the second reading of the ordinance amending Chapter 8.04 and Chapter 8.10 of the Palo Alto Municipal Code.26 City Council will review the Ordinance again in Apri1.27 • In February 2024, the City launched the Canopy Tree Plotter28, a collaboration with Canopy. Tree Plotter is a tree inventory software created by Plan -it Geo, a company that specializes in trees and technology. This online resource is a useful tool that enhances tree planting and tree care management, explores the benefits trees provide, and enables users to share tree stewardship activities. Zero Waste: Support Waste Reduction The near -term focus for Zero Waste is to encourage food waste reduction, prevention, and recovery and provide waste prevention technical assistance; eliminate single -use disposable containers; and prioritize domestic processing of recyclable materials. • As part of the new Zero Waste Living outreach campaign, the City published thirteen 25 City Council, January 16, 2024; Agenda Item #13; SR #2310-2190, https://cityofpaloaIto.primegov.com/Portal/viewer?id=0&type=7&uid=c760bc3c-83e1-483d-b3e2-42638d781c49 26 City Council, February 26, 2024; Agenda Item #11; SR 2402-2631, https://cityofpaloaIto.primegov.com/Portal/viewer?id=0&type=7&uid=582d22a1-59a2-4d07-a2dd-ac4253f4247e 27 City Council, April 1, 2024; Agenda Item #10; SR 2403-2809, https://cityofpaloaIto.primegov.com/Portal/viewer?id=0&type=7&uid=132d1d26-0e8c-49c2-8773-ff6e0c9dc1f3 28 Canopy Tree Plotter, February 2024; https://pg-cloud.com/Canopy/ Item 15: Staff Report Pg. 11 Packet Pg. 253 of 254 Item 15 Item 15 Staff Report Zero Waste Minute e -newsletters in Q1 2024. The City will hold a compost workshop on April 6, 2024 for residents to learn how easy it is to make their own compost. Palo Alto residents can receive a free compost bin or worm bin (one per household) by attending a compost workshop. FISCAL/RESOURCE IMPACT Initiatives will be managed and funded across various departments and funds. The Fiscal Year 2024 work items in the 2023-2025 draft S/CAP Work Plan can proceed with the actions and resources approved in the Fiscal Year 2024 Adopted Budget. Staff expects to submit additional resource requests as part of the annual budget process in subsequent years as the work plan proceeds. Some items in other work plans are also relevant to the S/CAP Work Plan. The Utilities Strategic Plan, for example, includes workforce development and advanced metering infrastructure (AMI) work items that are directly relevant to the S/CAP. Some of these may involve future budget requests as well. Stakeholder engagement on S/CAP implementation is wide -reaching and coordinated with multiple departments. Efforts include direct engagement, webinars, social media and other digital marketing/outreach, website updates, public signage, Ad Hoc Committee meeting participation, leveraging the city's communication platforms, and more. Stakeholder engagement efforts were described in the Analysis section, under P3. Build Awareness and Confidence. This report is for informational purposes only with no action required by the Council, and therefore it is not a project subject to review under the California Environmental Quality Act (CEQA). APPROVED BY: Brad Eggleston, Director Public Works/City Engineer Item 15: Staff Report Pg. 12 Packet Pg. 254 of 254