Clovis City Council
April 20, 2026

April 20, 2026 - 1 - 6:00 PM

Agenda • City Council Meeting

Council Chamber, 1033 Fifth Street, Clovis, CA 93612 (559) 324-2060 www.clovisca.gov

April 20, 2026 6:00 PM Council Chamber
In compliance with the Americans with Disabilities Act, if you need special assistance to access the City Council Chamber to participate at this meeting, please contact the City Clerk at (559) 324-2060 (TTY – 711). Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to the Council Chamber.

The Clovis City Council meetings are open to the public at the physical address listed above. There are numerous ways to participate in the City Council meetings: you are able to attend in person; you may submit written comments as described below; and you may view the meeting which is webcast and accessed at www.clovisca.gov/agendas.

Written Comments
• Members of the Public are encouraged to submit written comments at:
www.clovisca.gov/agendas at least two (2) hours before the meeting (4:00 PM). You will be prompted to provide Council Meeting Date, Item Number, Name, Email, Comment • Please submit a form for each item you are commenting on. • A copy of your written comment will be provided to the City Council noting the item number.

If you wish to make a verbal comment, please see instructions below. • Please be aware that any written comments received that do not specify a particular agenda item will be marked for the general public comment portion of the agenda. • If a written comment is received after 4:00 PM on the day of the meeting, efforts will be made to provide the comment to the City Council during the meeting. However, staff cannot guarantee that written comments received after 4:00 PM will be provided to City Council during the meeting. All written comments received prior to the end of the meeting will be made part of the record of proceedings.

Campaign Contribution Prohibition and Mandatory Disclosure – Pursuant to Government Code section 84308, a Councilmember shall not accept, solicit, or direct a campaign contribution of more than $500 from any party or their agent, or from any participant or their agent, while a proceeding involving a license, permit, contract, or other entitlement for use is pending before the City or for 12 months after a final decision is rendered in that proceeding. Any Councilmember who has received a campaign contribution of more than $500 within the preceding 12 months from a party or their agent, or from a participant or their agent, must disclose that fact on the record of the proceeding and shall not make, participate in making, or in any way attempt to use their official position to influence the decision.

April 20, 2026 - 2 - 6:00 PM
Pursuant to Government Code section 84308, subdivision (e), any party to a covered proceeding before the City Council is required to disclose on the record of the proceeding any campaign contribution, including aggregated contributions, of more than $500 made within the preceding 12 months by the party or their agent to any Councilmember. The disclosure shall be made as required by Government Code Section 84308, subdivision (e)(1) and California Code of Regulations, Title 2, section 18438.8. No party or their agent, and no participant or their agent, shall make a campaign contribution of more than $500 to any Councilmember during the covered proceeding or for 12 months after a final decision is made in that proceeding. The foregoing statements do not constitute legal advice, and parties and participants are urged to consult with their own legal counsel regarding the applicable requirements of the law.

Call to Order
Flag Salute - Councilmember Basgall
Roll Call
Presentations/Proclamations

1. Presentation of Proclamation recognizing Helping One Woman (HOW) - Clovis Chapter.

2. Presentation of Proclamation declaring April 2026 as Donate Life Month.

Council Items

3. Consider Approval – Appointments to the Planning Commission and Personnel Commission.

Staff: Andrew Haussler, City Manager
Recommendation: Approve
Public Comments
This is an opportunity for the members of the public to address the City Council on any matter within the City Council’s jurisdiction that is not listed on the Agenda. In order for everyone to be heard, please limit your comments to 3 minutes or less, or 10 minutes per topic. Anyone wishing to be placed on the Agenda for a specific topic should contact the City Manager’s office and submit correspondence at least 10 days before the desired date of appearance.

Consent Calendar
Items considered routine in nature are to be placed upon the Consent Calendar. They will all be considered and voted upon in one vote as one item unless a Councilmember requests individual consideration. A Councilmember’s vote in favor of the Consent Calendar is considered and recorded as a separate affirmative vote in favor of each action listed. Motions in favor of adoption of the Consent Calendar are deemed to include a motion to waive the reading of any ordinance or resolution on the Consent Calendar. For adoption of ordinances, only those that have received a unanimous vote upon introduction are considered Consent items.

4. Administration - Approval - Minutes from the April 13, 2026, City Council Meeting.

5. Finance – Receive and File – Investment Report for the Month of October, 2025.

6. Finance – Receive and File – Treasurer's Report for the Month of October, 2025.

7. Finance – Receive and File – Investment Report for the Month of November, 2025.

8. Finance – Receive and File – Treasurer's Report for the Month of November, 2025.

April 20, 2026 - 3 - 6:00 PM

9. Fire - Approval - Award Weed and Rubbish Abatement Contract to Iron Cross Tractor Services, LLC, for discing, handwork, trash hauling, grading, tire disposal, and tree stump removal and authorize the Fire Chief to enter into the agreement.

10. General Services – Approval – Res. 26-___, Authorizing the Execution of the Authorized Agent and Certificates and Assurances Forms for the Low Carbon Transit Operations Program (LCTOP), Recommending that the Deputy General Services Director be Authorized to Execute All Required Documents, and Submittal of One (1) Project for Fiscal Year 2025-2026 Cycle A.

11. General Services - Approval - Waive the City’s Usual Purchasing Requirements and Authorize the City Manager to Approve the Purchase of Six (6) FrontRunners and Two (2) Class C – Ford E450 Cutaway Buses for $1,798,087.98 Utilizing the California Association for Cooperative Transportation (CalACT) Competitive Bid Award.

12. General Services - Approval - Res. 26-___, Approving a Side Letter Agreement with Clovis Public Safety Employees Association (CPSEA) to Include Recruitment Bonus Pay for Lateral Public Safety Dispatchers; and Authorizing City Manager to Execute Agreement.

13. General Services – Approval - Claim Rejection of the General Liability Claim on behalf of Penni Richey.

14. Planning and Development Services – Approval – Res. 26-___, Final Map Tract 6332, located south of Loyola Ave., between N. Locan Ave. and N. De Wolf Ave. (Granville Homes, Inc., A California Corporation).

15. Planning and Development Services – Approval – Res. 26-___, Annexation of Proposed Tract 6332, located south of Loyola Ave., between N. Locan Ave. and N. De Wolf Ave. to the Landscape Maintenance District No. 1 of the City of Clovis. (Granville Homes, Inc., A California Corporation).

Public Hearings
A public hearing is an open consideration within a regular or special meeting of the City Council, for which special notice has been given and may be required. When a public hearing is continued, noticing of the adjourned item is required as per Government Code 54955.1.

16. Consider various actions related to the Proposed New Water Rates and Fees.

a. Conduct a Proposition 218 Public Hearing and Majority Protest Proceeding on the proposed new Water Rates and Fees as outlined in the Draft Water Rate Study Report and the Public Hearing Notice mailed to all City water customers.

b. Consider approval of the proposed new Water Rates and Fees, subject to no majority protest, and adoption of the Water Rate Study Report as final.

Staff: Kevin Tuttle, Assistant Public Utilities Director Recommendation: Approve

17. Consider Approval – Res. 26-___, Resolution approving a street plan line for Clovis Avenue (from Behymer to Copper Avenues), Minnewawa Avenue (from Shepherd to International Avenues), Behymer Avenue (from Willow to Sunnyside Avenues), International Avenue (from Willow to Sunnyside Avenues), and Copper Avenue (from Willow to Sunnyside Avenues) and approving associated California Environmental Quality Act Addendum to the 2014 General Plan EIR. (Heritage Grove) Staff: Sean Smith, Deputy City Engineer
Recommendation: Approve

April 20, 2026 - 4 - 6:00 PM
Administrative Items
Administrative Items are matters on the regular City Council Agenda other than Public Hearings.

18. Provide Direction - Update on Status of the Maintenance Community Facilities District.

Staff: Kevin Tuttle, Assistant Public Utilities Director Recommendation: Provide Direction

19. Consider Adoption – Ord. 26-03, an Ordinance of the City Council of the City of Clovis finding that the proposed ordinance amendment is exempt from CEQA pursuant to CEQA Guidelines Section 15061, Subdivision (b)(3); and amending the City's Development Code by adding Chapter 9.27 to the Clovis Municipal Code to establish a Mixed-Income Zoning Ordinance for Residential Development Projects. (Vote: 4-1 with Mayor Mouanoutoua voting no)
Staff: Briana Parra, City Clerk
Recommendation: Adopt
Council Items

20. Provide Direction – Peg Bos Plaza Honoree Additions Policy.

Staff: Andrew Haussler, City Manager
Recommendation: Provide Direction
City Manager Comments
Council Comments
Adjournment
Future Meetings
Regular City Council Meetings are held at 6:00 PM in the Council Chamber. The following are future meeting dates:

May 4, 2026
May 11, 2026
May 18, 2026

Report to the City Council

To: City Council
From: Administration
Date: April 20, 2026
Staff: Andrew Haussler, City Manager
Subject: Consider Approval – Appointments to the Planning Commission and Personnel Commission.

Recommendation: Approve
Attachments: None

Recommendation:

For the City Council to consider appointments to the Planning Commission and Personnel Commission as follows:

a. It is recommended that the Mayor, subject to approval by the City Council, consider the reappointment of Alma Antuna and Amy Hatcher to the Planning Commission. The reappointments are for a four-year term of office which would expire in May of 2030.

b. It is recommended that the Mayor, subject to approval by the City Council, consider the reappointment of Scott Fetterhoff, Charlotte Gallock, and James Verros to the Personnel Commission. The reappointment is for a four-year term of office which would expire in May of 2030.

c. It is recommended that the Mayor, subject to approval by the City Council, make four new appointments to the Personnel Commission.

Executive Summary:

Planning Commissioners Alma Antuna and Amy Hatcher, whose term of office expires in May of 2026, have requested to be reappointed. Upon review and recommendation from staff, Mayor Mouanoutoua is recommending that they both be reappointed for another four-year term.

Personnel Commissioners Scott Fetterhoff, Charlotte Gallock, and James Verros, whose term of office expires in May of 2026, have requested to be reappointed. Mayor Mouanoutoua is recommending that these three Personnel Commissioners be reappointed for four-year terms.

There are four openings for new Personnel Commissioners. Interviews were conducted with interested applicants, and Mayor Mouanoutoua is recommending the appointments of Ani Kitsinian

and Rebecca Henderson for four-year terms through May 2030, and Leifull Vang and Steven Trevino for two-year terms through May 2028.

Background:

Planning Commissioners Alma Antuna and Amy Hatcher have requested to be reappointed. Upon review and recommendation from staff, Mayor Mouanoutoua is recommending that they both be reappointed for another four-year term.

Personnel Commissioners Scott Fetterhoff, Charlotte Gallock, and James Verros, whose terms of office expire in May of 2026, have requested to be reappointed. Upon review and recommendation from staff, Mayor is recommending that these three Personnel Commissioners also be reappointed.

There are four new openings on the Personnel Commission due to the expired term of office for Thomas Klose, the resignation received from Jerry Brady, and two additional openings with the passage of Ordinance 26-01, which amended Article 2 of Chapter 2.2 of Title 2 of the Clovis Municipal Code. Interviews were conducted in March with interested applicants, and Mayor Mouanoutoua is recommending the appointments of Ani Kitsinian and Rebecca Henderson for four- year terms through May 2030, and Leifull Vang and Steven Trevino for two-year terms through May 2028. If appointed, this will result in a total of 4 Personnel Commissioners with expiring terms in May 2028, and 5 Personnel Commissioners with expiring terms in May 2030.

Fiscal Impact:

None.

Reason for Recommendation:

Pursuant to Clovis Municipal Code Chapter 9.80.040, each member of the Planning Commission shall be appointed by the Mayor, subject to approval by the City Council.

Pursuant to Clovis Municipal Code Chapter 2.2.203, all members of the Personnel Commission shall be appointed by a majority vote of the City Council.

Actions Following Approval:

Staff will inform the appointed Planning Commissioners and Personnel Commissioners of the action taken by the City Council.

Conflict of Interest:

None.

PRELIMINARY - SUBJECT TO APPROVAL

CLOVIS CITY COUNCIL MEETING

April 13, 2026 6:00 P.M. Council Chamber

Meeting called to order by Mayor Mouanoutoua at 6:00
Flag Salute led by Councilmember Ashbeck

Roll Call: Present: Councilmembers Ashbeck, Basgall, Bessinger, Mayor Pro Tem Pearce Mayor Mouanoutoua

Mayor Mouanoutoua requested a moment of silence in remembrance of Tulare County Sheriff’s Detective Randy Hoppert.

PRESENTATION – 6:01

6:01 – ITEM 1 - Presentation of Proclamation declaring April 2026 as Autism Acceptance Month.

6:07 – ITEM 2 - Presentation by Police Chief Fleming on the annual Baker to Vegas Race.

6:20 – ITEM 3 - Presentation by the California Department of Insurance regarding Legislative Action Alert: AB 1795 (Smoke Damage Recovery Act), AB 1680 (Make It FAIR Act), and SB 876 (Disaster Recovery Reform Act) – Strengthening Prevention, Protection, and Recovery for Californians.

PUBLIC COMMENTS – 6:32

Bill Rogers, resident, invited the Council and community to attend the annual Loyalty Day ceremony on May 1st at the Clovis Veterans Memorial District and promoted the Carry the Load national rally on May 3rd at Railroad Park, honoring fallen military members and first responders.

The following individuals addressed the Council regarding the Clovis Rotary Skate Park, advocating for reduced safety gear requirements: William Edwards, Unknown Speaker, Amanda Rastikas, Amari Murphy, Anthony Bergos, and Devin Mullins.

Mayor Mouanoutoua noted for the record that the Council received one written comment from Lin Kivett regarding concerns with the use of surveillance camera devices in the City of Clovis.

CONSENT CALENDAR – 6:47

Upon call, there was no public comment.

Mayor Mouanoutoua noted for the record that the Council received one written comment from Debbie Terry with NorCal Construction Industry Compliance regarding Consent Calendar item 11.

Motion by Councilmember Ashbeck, seconded by Councilmember Basgall, that the items on the Consent Calendar be approved. Motion carried by unanimous vote.

PRELIMINARY - SUBJECT TO APPROVAL

4. Administration - Approval - Minutes from the March 16, 2026 City Council Meeting.

5. Administration — Approval — Award the Request for Proposals and approve the purchase of Cisco Networking Equipment from AMS.NET, LLC, in the amount of $156,504.39.

6. General Services – Approval – Res. 26-33, Authorizing Amendments to the City’s Classification and Compensation Plans by Revising the City Surveyor Classification in the Planning and Development Services Department with a Salary Range of $10,947 to $13,308 per month and re-assigning the classification from the Clovis Professional Technical Association (CPTA) to the Management Group.

7. General Services – Approval – Res. 26-34, Amending the City’s FY 2025-2026 Position Allocation Plan adding one (1) Geographic Information Systems Specialist position within the Planning and Development Services Department.

8. General Services – Approval – Res. 26-35, Amending the City’s FY 2026-2027 Position Allocation Plan by deleting one (1) Construction Manager position and adding one (1) Supervising Civil Engineer position within the Planning and Development Services Department.

9. Planning and Development Services – Approval – Final Acceptance for CIP 25-06 Antonio & Ashlan Alley Improvements, for a final contract cost of $135,063.66.

10. Planning and Development Services – Approval – Bid Award for CIP 24-26 Clovis Senior Activity Center Tenant Improvements to Fortune-Ratliff General Contractors, Inc., in the amount of $1,340,000.00 and Authorize the City Manager to execute the contract on behalf of the City.

11. Planning and Development Services – Approval – Bid Award for CIP 24-27 Peach Avenue Street Improvements to Dave Christian Construction Co, Inc., in the amount of $958,816.95 and Authorize the City Manager to execute the contract on behalf of the City.

PUBLIC HEARINGS – 6:49

6:49 ITEM 12 - Consider Approval – Res. 26-36, GPA2026-002, A Resolution adopting a Class 32 Categorical Exemption from further environmental review under the CEQA Guidelines and approving a text amendment to the Shaw Avenue Specific Plan permitting storage facility uses with an approved conditional use permit for Area 6. Little Angels Day Care, LLC, property owner; Hawkins Companies, LLC, applicant; and Eric Tange, representative.

Mayor Mouanoutoua noted for the record that the Council received written comments in opposition from Janette Erickson, Karey DeBardeleben, and Jessie Arteaga.

The following individuals addressed the Council on the above item: Steven Trevino, Karen, Lisa Nutmyer, Eric Tange (representative), and Angeline Ji Ling (representative of Hawkins Companies, LLC).

Motion to deny the GPA2026-002 Resolution by Councilmember Ashbeck, seconded by Councilmember Basgall. Motion failed by 2-3 vote, with Councilmember Bessinger, Mayor Pro Tem Pearce, and Mayor Mouanoutoua voting no.

Motion to approve by Councilmember Bessinger, seconded by Mayor Pro Tem Pearce. Motion Carried by 3-2 vote, with Councilmember Ashbeck and Councilmember Basgall voting no.

PRELIMINARY - SUBJECT TO APPROVAL

7:57 ITEM 13 - Consider approval of various actions related to Ordinance Amendment 2026- 001 for the Mixed-Income Zoning Ordinance for residential development projects.

a. Consider Introduction and Adoption — Ord. 26-02, an Urgency Ordinance of the City Council of the City of Clovis finding that the proposed ordinance amendment is exempt from CEQA pursuant to CEQA Guidelines Section 15061, Subdivision (b)(3); and amending the City's Development Code by adding Chapter 9.27 to the Clovis Municipal Code to establish a Mixed- Income Zoning Ordinance for Residential Development Projects.

Motion for approval by Councilmember Ashbeck, seconded by Councilmember Bessinger. Motion carried by 4-1 vote, with Mayor Mouanoutoua voting no.

b. Consider Introduction — Ord. 26-03, an Ordinance of the City of Council of the City of Clovis finding that the proposed ordinance amendment is exempt from CEQA pursuant to CEQA Guidelines Section 15061, Subdivision (b)(3); and amending the City's Development Code by adding Chapter 9.27 to the Clovis Municipal Code to establish a Mixed-Income Zoning Ordinance for Residential Development Projects.

The following individuals addressed the Council regarding the above item: Paul Pearce, Darren Rose (representing the Building Industry Association); Mike Prandini; and Brandon De Young (representing De Young Properties).

Motion for approval by Councilmember Ashbeck, seconded by Councilmember Bessinger. Motion carried by 4-1 vote, with Mayor Mouanoutoua voting no.

ADMINISTRATIVE ITEMS – 8:48

8:48 ITEM 14 - Provide Direction - Timing of Off-Site Infrastructure Improvements for Entitlements to Maintain Public Safety.

The following individuals addressed the Council regarding the above item: Darren Rose (representing the Building Industry Association); Mike Prandini; and Brandon De Young (representing De Young Properties).

Council provided direction to staff to continue working on the timing of off-site improvements, with a focus on options three and four. Staff will continue to collaborate with the development community and return to the Council with a proposed policy that establishes a benchmark based on technical studies to determine appropriate timing and incorporates policy approaches addressing both options three and four.

9:22 ITEM 15 - Consider Approval — Res. 26-37, A Resolution of the City Council for the City of Clovis Confirming Assessment for Costs for Abatement of Nuisance, 2075 Swift Avenue, Clovis, CA 93611, APN No.: 552-200-47S.

Mayor Mouanoutoua noted for the record that the Council received one written comment from Lacie Rodriguez with concerns regarding the above property.

The following individual addressed the Council regarding the above item: Steve Martin.

PRELIMINARY - SUBJECT TO APPROVAL

Motion for approval by Councilmember Basgall, seconded by Councilmember Ashbeck. Motion carried by unanimous vote.

CITY MANAGER COMMENTS – 9:35

City Manager Haussler announced that the Planning Commission meeting for the week had been cancelled and would resume in May. He also noted that registration was open for the upcoming Miss Winkles Fast and Furriest 5K scheduled for April 18th.

COUNCIL COMMENTS – 9:36

There was no formal Council direction for staff.

CLOSED SESSION – 9:50

Upon call, there was no public comment.

ITEM 16 - GOVERNMENT CODE SECTION 54956.9(D)(1) CONFERENCE WITH LEGAL COUNSEL – EXISTING LITIGATION CASE NAME: IN RE: NATIONAL PRESCRIPTION OPIATE LITIGATION, U.S. DISTRICT COURT, NO. DIST. OF OHIO, E. DIV.; MDL NO. 2804

Motion to approve the City opting into the most recent settlement referred to as the “Six Remnant Defendants Settlement” in the National Opioid Case by Mayor Pro Tem Pearce, seconded by Councilmember Basgall. Motion carried by unanimous vote.

ITEM 17 - GOVERNMENT CODE SECTION 54956.9(D)(1) CONFERENCE WITH LEGAL COUNSEL – EXISTING LITIGATION CASE NAME: MATTHEW MACIEL V. CITY OF CLOVIS, ET AL.; CASE NO. 25CECG02450

No action taken.

RECONVENE INTO OPEN SESSION AND REPORT FROM CLOSED SESSION

ADJOURNMENT

Mayor Mouanoutoua adjourned the meeting of the Council to April 20, 2026.

Meeting adjourned: 10:02 p.m.

______________________________ ________________________________ Mayor City Clerk

Report to the City Council

To: City Council
From: Finance Department
Date: April 20, 2026
Staff: Angela Papazian, Deputy Finance Director
Subject: Finance – Receive and File – Investment Report for the Month of October, 2025.

Recommendation: Receive and File
Attachments:

1. Investment Report October ATT 1 Dist of Investments

2. Investment Report October ATT 2 Monthly Inv Trans

3. Investment Report October ATT 3 Cert of Deposit

4. Investment Report October ATT 4 Municipal Securities

5. Investment Report October ATT 5 Corporate Securities

6. Investment Report October ATT 6 Treasury Rates

Recommendation:

Staff recommends that the City Council receive and file the Investment Report for the Month of October 2025.

Executive Summary:

Attached is the Investment Report for the month of October 2025. Shown in Attachment 1 is the distribution of investments which lists all the individual securities owned by the City with the book and market values. Book value is the actual price paid for the investment. Market value is the amount that the investment is worth if sold in the open market. The market value (which fluctuates daily) that is used in the report is as of the last working day of the month. Attachment 2 reflects the monthly investment transactions for the month of October 2025. Attachment 3 lists the certificates of deposit.

Attachment 4 lists the municipal securities. Attachment 5 lists the corporate securities. Attachment 6 is a graph of Treasury rates on October 31, 2025.

The investment of the City’s funds is performed in accordance with the adopted Investment Policy.

Funds are invested with the following objectives in mind:

1. Assets are invested in adherence with the safeguards and diversity of a prudent investor.

2. The portfolio is invested in a manner consistent with the primary emphasis on preservation of the

principal, while attaining a high rate of return consistent with this guideline. Trading of securities for the sole purpose of realizing trading profits is prohibited.

3. Sufficient liquidity is maintained to provide a source for anticipated financial obligations as they become due.

4. Investments may be made, consistent with the Investment Policy Guidelines, in fixed income securities maturing in three years or less and can be extended to five years with the City Manager’s approval.

The Finance Department invests the City’s assets with an expectation of achieving a total rate of return at a level that exceeds the annualized rate of return on short-term government guaranteed or insured obligations (90-day Treasury bills) and to assure that the principal is preserved with minimal risk of depreciation or loss. In periods of rising interest rates, the City of Clovis portfolio return may be less than that of the annualized 90-day Treasury bill. In periods of decreasing interest rates, the City of Clovis portfolio return may be greater than the annualized 90-day Treasury bill. The current 90-day Treasury bill rate (annualized) is 4.31%. The rate of return for the City of Clovis portfolio is

3.0%. The goal for the City of Clovis investment return is 120% of the 90-day Treasury bill rate. The current rate of return is 88% of the Treasury bill rate.

The Finance Department began investing in corporate securities in February 2024 to provide additional diversification and yield to the portfolio. To date, 40 corporate securities have been purchased at a net book value of $82,973,996 as of October 31, 2025. Their average yield is 4.01%, which is roughly 36 basis points higher than current yields on 5-year Treasury bonds.

In accordance with the Investment Policy, the investment period for each investment is up to three years and can be extended to five years with the City Manager’s approval. As of October 2025, the average investment life of the City’s investment portfolio is 1.85 years.

Current Investment Environment and Philosophy

During the month of October 2025, the federal funds rate target range was lowered to 3.75%-4.00%.

On October 31, 2025, the Treasury yield curve decreased from 3-month to 3-year notes and increased from 3-year to 10-year notes.

Certificates of Deposit (CD’s)

The City purchases both negotiable and non-negotiable Certificates of Deposit (CD’s). Although negotiable CD’s can be traded, it is the City’s policy to buy and hold all CD’s. Negotiable CDs are held by U.S. Bank, a third-party custodian. Non-negotiable CDs are held in the City’s safe.

Purchases and Maturities

• 0 government securities were purchased.
• 2 government securities matured.
• 1 certificate of deposit was purchased.
• 10 certificates of deposit totaling $2,500,000 matured. • 2 municipal securities were purchased.
• 1 corporate security was purchased.
• 0 corporate securities were called or matured.

Market Environment

• During October, the federal funds target rate range was lowered to 3.75%-4.00%. • On October 31st, the yield curve decreased from 3-month to 3-year notes and increased from 3- year to 10-year notes. See Attachment 6, Graph of Treasury Rates on October 31, 2025.

Background:

State law (Government Code Section 53646(b)) requires that the City Treasurer provide quarterly reports on their investment activities to their governing body.

Fiscal Impact:

None.

Reason for Recommendation:

The Finance report is for information only and no action is required.

Actions Following Approval:

Staff will file the report.

Conflict of Interest:

None.

STATED

DAYS TO

MATURITY

NET BOOK MARKET YIELD TO INTEREST INVEST MATURIT Y FROM COST VALUE VALUE * MATURIT Y RATE DATE DATE 10/31/2025

GOV'T SECURITIES
FHLB 871,150 947,914 947,996 3.886% 0.500% 04/26/23 11/25/25 25 FHLB 4,963,000 4,997,643 4,954,750 0.750% 0.580% 09/08/21 02/11/26 103 FHLB 3,922,000 3,994,090 3,961,640 1.229% 0.750% 12/16/21 02/24/26 116 FHLB 2,751,000 2,967,281 2,965,440 3.916% 0.790% 05/17/23 03/16/26 136 FFCB 4,967,500 4,994,039 4,875,700 1.075% 0.940% 10/14/21 09/28/26 332 FHLB 3,649,200 3,919,728 3,899,400 3.342% 1.150% 06/29/22 10/28/26 362 FHLB 5,988,000 5,997,444 5,842,800 1.291% 1.250% 11/24/21 11/24/26 389 FHLB 5,127,757 5,029,043 4,914,750 1.580% 2.125% 01/20/22 12/11/26 406 FHLB 4,043,250 4,370,843 4,317,242 3.397% 1.020% 06/29/22 02/24/27 481 FHLB 4,550,000 4,868,977 4,858,333 3.173% 1.020% 08/17/22 02/24/27 481 FHLB 3,695,200 3,917,893 3,985,010 2.564% 0.900% 03/31/22 02/26/27 483 FHLB 6,072,400 6,565,556 6,548,651 3.737% 0.900% 01/19/23 02/26/27 483 FHLB 5,247,000 5,752,754 5,658,516 4.329% 0.900% 02/16/23 02/26/27 483 FHLB 5,050,770 5,495,714 5,499,588 3.971% 1.000% 12/14/22 02/26/27 483 FHLB 4,000,000 4,000,000 3,928,000 2.375% 2.375% 03/08/22 03/08/27 493 FFCB 5,160,000 5,605,476 5,627,700 3.996% 0.830% 03/23/23 02/22/28 844 FHLB 355,160 374,681 377,008 4.123% 1.125% 01/18/24 02/25/28 847 FFCB 2,123,750 2,301,643 2,351,400 4.812% 1.000% 09/27/23 03/02/28 853 FHLB 1,893,209 2,056,283 2,107,426 5.018% 1.000% 10/18/23 03/10/28 861 FHLB 3,124,500 3,060,906 3,058,320 3.553% 4.500% 05/17/23 03/10/28 861 FFCB 626,780 658,112 663,684 4.121% 1.370% 01/18/04 03/22/28 873 FFCB 6,102,000 6,050,664 6,036,660 3.501% 3.875% 04/26/23 04/25/28 907 FFCB 5,354,250 5,425,569 5,464,470 4.349% 3.740% 06/14/23 04/27/28 909 FFCB 2,641,500 2,787,954 2,810,970 4.130% 1.230% 12/20/23 07/13/28 986 FHLMC 853,500 914,627 932,720 4.601% 1.100% 11/15/23 07/27/28 1,000 FNMA 848,800 911,851 930,070 4.613% 1.000% 11/15/23 07/28/28 1,001 FHLB 882,500 929,876 937,390 4.117% 1.300% 12/20/23 08/04/28 1,008 FHLB 2,981,700 2,989,319 3,087,090 4.892% 4.750% 10/18/23 09/08/28 1,043 FHLMC 842,300 905,030 924,580 4.614% 1.000% 11/15/23 10/19/28 1,084 FFCB 1,799,000 1,806,360 1,803,820 3.764% 1.450% 08/28/25 06/01/30 1,674 SECURITIES TOTAL 100,487,175$ 104,597,269 $ 104,271,123 $ LAIF 61,258,856$ 61,258,856 $
Municipal Issuance 65,894,777$ 65,982,985 $
Corporate Securities 82,973,996$ 84,160,745 $
Sweep Account (Union Bank) 20,654,924$ 20,654,924 $ TOTAL CD'S 24,250,000$ 24,440,610 $
TOTAL INVESTMENTS 359,629,822$ 360,769,243 $
* Market values for securities obtained from US Bank.

City of Clovis
Distribution of Investments
As of October 31, 2025
ATTACHMENT 1

Activity Maturity
Institution Description Activity Amount Market Value Rate Date Date Applied Materials Corp Purchase 2,500,000 2,278,750 1.750% 10/16/25 06/01/30 California State Mun Iss. Purchase 3,000,000 3,162,000 4.875% 10/16/25 09/01/30 Imperial Irrigation Dist Mun Iss. Purchase 1,100,000 1,116,500 4.160% 10/31/25 11/01/30 United Bankers CD Purchase 250,000 250,000 3.500% 10/31/25 10/31/28 1st Financial Bank USA CD Maturity 250,000 250,000 4.150% 10/14/25 10/14/25 Bell Bank CD Maturity 250,000 250,000 4.150% 10/14/25 10/14/25 Pacific Alliance Bank CD Maturity 250,000 250,000 4.200% 10/14/25 10/14/25 Great Southern Bank CD Maturity 250,000 250,000 4.500% 10/20/25 10/20/25 American Bank CD Maturity 250,000 250,000 4.350% 10/21/25 10/21/25 Queensborough Natl Bank CD Maturity 250,000 250,000 4.100% 10/21/25 10/21/25 Public Service Credit Union CD Maturity 250,000 250,000 4.500% 10/27/25 10/27/25 First Citizens Bank CD Maturity 250,000 250,000 4.700% 10/28/25 10/28/25 LCA Bank Corp CD Maturity 250,000 250,000 4.400% 10/28/25 10/28/25 Sharonview Fed Credit Union CD Maturity 250,000 250,000 4.850% 10/31/25 10/31/25

PORTFOLIO DATA
Current Month (10/25)
Book Market
CD'S 24,250,000 $ 24,440,610 $
Gov't Securities* 104,597,269 104,271,123
Municipal Securities 65,894,777 65,982,985
Corporate Securities 82,973,996 84,160,745
LAIF 61,258,856 61,258,856
Sweep Account (Union Bank) 20,654,924 20,654,924
TOTAL 359,629,822 $ 360,769,243 $
Prior Month (09/25)
Three Months Previous (07/25)
Book Market Book Market
CD'S 26,500,000 $ 26,704,488 $ CD'S 27,000,000 $ 27,128,845 $ Gov't Securities* 104,463,132 104,078,512 Gov't Securities* 115,375,689 114,325,284 Municipal Securities 61,534,541 61,651,440 Municipal Securities 63,214,798 62,929,688 Corporate Securities 80,667,249 81,819,219 Corporate Securities 72,104,178 72,714,885 LAIF 60,596,907 60,596,907 LAIF 60,596,907 60,596,907
Sweep Account (Union Bank) 33,825,743 33,825,743 Sweep Account (Union Bank) 25,174,105 25,174,105 TOTAL 367,587,572 $ 368,676,309 $ TOTAL $363,465,677 362,869,714 $ Six Months Previous (04/25)
One Year Previous (10/24)
Book Market Book Market
CD'S 29,750,000 $ 29,897,218 $ CD'S 32,000,000 $ 32,185,920 $ Gov't Securities* 118,979,042 118,150,194 Gov't Securities* 136,873,526 134,328,806 Municipal Securities 60,904,158 60,809,465 M unicipal Securities 57,303,416 56,678,797 Corporate Securities 63,274,582 64,179,690 Corporate Securities 37,932,539 38,022,820 LAIF 59,940,157 59,940,157 LAIF 58,646,660 58,646,660
Sweep Account (Union Bank) 27,687,833 27,687,833 Sweep Account (Union Bank) 9,179,666 9,179,666 TOTAL $360,535,772 360,664,557 $ TOTAL 331,935,807 $ 329,042,669 $ *Adjusted Quarterly for Premium/Discount Amortization
As of October 31, 2025
Monthly Investment Transactions
City of Clovis
ATTACHMENT 2

MARKET INTEREST INVEST MATURITY MATURITY FROM INTEREST
Negotiable CDs COST PRICE RATE DATE DATE 10/31/25 FREQUENCY United Heritage Cr Un 250,000 250,022.50 4.700% 11/04/22 11/04/25 4 QUARTERLY Capital One Natl Assn 250,000 250,107.50 4.900% 11/16/22 11/17/25 17 QUARTERLY Spokane Teachers Cr Un 250,000 250,177.50 5.000% 11/23/22 11/23/25 23 QUARTERLY Morgan Stanley Private 250,000 250,110.00 4.750% 12/09/22 12/09/25 39 QUARTERLY Community Bank Topeka 250,000 250,085.00 4.300% 12/14/22 12/15/25 45 QUARTERLY Austin Telco Fed 250,000 250,305.00 4.950% 12/16/22 12/16/25 46 QUARTERLY Alliant Credit Union 250,000 250,450.00 5.100% 12/30/22 12/30/25 60 QUARTERLY First Technology Fed Cr Un 250,000 250,470.00 5.150% 06/30/23 12/30/25 60 MONTHLY Liberty First Cr Un 250,000 250,350.00 4.550% 01/17/23 01/19/26 80 QUARTERLY Capital Educators Fed Cr 250,000 250,382.50 4.550% 01/19/23 01/20/26 81 QUARTERLY City Natl Bank 250,000 250,267.50 4.350% 01/25/23 01/26/26 87 QUARTERLY Manufacturers Traders 250,000 250,235.00 4.250% 01/31/23 02/02/26 94 QUARTERLY Coastlife Cr Un 250,000 250,537.50 4.650% 02/13/23 02/13/26 105 QUARTERLY Achieve Finl Cr Un 250,000 250,565.00 4.650% 02/17/23 02/17/26 109 QUARTERLY California Cr Un Glendale 250,000 250,390.00 4.500% 02/23/23 02/23/26 115 QUARTERLY Truliant Fed Cr Un 250,000 250,622.50 4.600% 02/28/23 02/27/26 119 QUARTERLY Pioneer Fed Cr Un Mtn Home 250,000 250,640.00 4.600% 02/28/23 03/02/26 122 QUARTERLY Tradition Cap Bankk 250,000 250,587.50 4.600% 03/03/23 03/03/26 123 MONTHLY Alaska Fed Cr 250,000 250,737.50 4.650% 03/05/23 03/09/26 129 MONTHLY Mid Carolina Credit 250,000 251,052.50 4.600% 03/13/23 03/13/26 133 MONTHLY Blue Ridge Bank 250,000 251,070.00 4.500% 03/16/23 03/16/26 136 MONTHLY Northwest Bank 250,000 251,100.00 4.600% 03/17/23 03/17/26 137 MONTHLY Valleystar Credit Union 250,000 251,130.00 4.600% 03/20/23 03/20/26 140 MONTHLY First Community Bank 250,000 251,125.00 4.500% 03/22/23 03/23/26 143 MONTHLY Technology Credit Union 250,000 251,177.50 4.650% 03/23/23 03/23/26 143 MONTHLY Cibc Bank 250,000 251,100.00 4.650% 03/24/23 03/24/26 144 MONTHLY Signature Bank 250,000 251,167.50 4.500% 03/24/23 03/24/26 144 MONTHLY Point West Credit Union 250,000 251,387.50 5.000% 04/12/23 04/13/26 164 MONTHLY Flagstar Bank 250,000 251,487.50 4.650% 03/30/23 04/24/26 175 MONTHLY Utah Cmnty Credit Union 250,000 251,052.50 4.600% 04/26/23 04/27/26 178 MONTHLY Cross River Bank 250,000 251,122.50 4.650% 05/19/23 05/19/26 200 MONTHLY Raiz FCU 250,000 251,492.50 4.650% 05/24/23 05/26/26 207 MONTHLY Usalliance FCU 250,000 251,350.00 4.700% 05/26/23 05/26/26 207 MONTHLY Chartway Fed Cr Un 250,000 251,742.50 4.900% 06/09/23 06/09/26 221 MONTHLY Customers Bank 250,000 251,465.00 4.700% 06/14/23 06/15/26 227 MONTHLY Lafayette Fed Cr Un 250,000 251,905.00 4.950% 12/13/23 06/15/26 227 QUARTERLY Latino Cmnty Cr Un 250,000 251,947.50 4.900% 06/27/23 06/29/26 241 MONTHLY Leaders Cr Un 250,000 252,087.50 5.000% 06/30/23 06/30/26 242 MONTHLY Farmers Insurance 250,000 252,282.50 5.000% 07/21/23 07/21/26 263 MONTHLY Maine Svgs FCU 250,000 252,282.50 5.000% 07/21/23 07/21/26 263 MONTHLY Popular Bank New York 250,000 252,447.50 4.850% 09/06/23 09/04/26 308 QUARTERLY Freedom Northwest Cr Un 250,000 253,637.50 5.350% 09/19/23 09/18/26 322 QUARTERLY Amex National Bank 250,000 252,977.50 5.000% 09/20/23 09/21/26 325 QUARTERLY First Gty Bank 250,000 253,332.50 5.100% 10/13/23 10/13/26 347 MONTHLY Bridgewater Bank 250,000 253,547.50 5.100% 11/03/23 11/03/26 368 MONTHLY Taylorsville Svgs Bk 250,000 253,547. 50 5.100% 11/03/23 11/03/26 368 MONTHLY Mountain Comm Bk 250,000 252,332.50 4.500% 12/20/23 12/21/26 416 QUARTERLY American Bk Freedom 250,000 252,247.50 4.500% 12/22/23 12/22/26 417 QUARTERLY Rockland Fed Cr Un 250,000 252,615.00 4.600% 12/22/23 12/22/26 417 QUARTERLY Hughes Fed Cr Un 250,000 252,287.50 4.400% 01/29/24 01/29/27 455 QUARTERLY MVB Bk Inc Fairmont 250,000 251,830.00 4.250% 01/31/24 01/29/27 455 QUARTERLY Farmers & Merchants Tr Co 250,000 251,535.00 4.150% 01/30/24 02/01/27 458 QUARTERLY Oregon Cmnty Cr Un 250,000 251,970.00 4.300% 02/09/24 02/09/27 466 MONTHLY Valley Natl Bk 250,000 252,517.50 4.450% 02/21/24 02/22/27 479 MONTHLY CFBank Fairlawn 250,000 252,565.00 4.450% 03/05/24 03/05/27 490 QUARTERLY Haven Svgs Bk 250,000 252,745.00 4.500% 03/06/24 03/08/27 493 QUARTERLY Univest Natl Bk 250,000 253,057.50 4.600% 03/13/24 03/15/27 500 QUARTERLY First Natl Bk 250,000 253,140.00 4.600% 03/19/24 03/19/27 504 QUARTERLY Nicolet Natl Bk 250,000 253,160.00 4.600% 03/22/24 03/22/27 507 QUARTERLY People Bank Co 250,000 253,952.50 4.650% 03/30/23 03/30/27 515 MONTHLY United FID Bank FSB 250,000 253,277.50 4.600% 04/12/24 04/12/27 528 QUARTERLY Maine Cmnty Bk 250,000 253,860.00 4.700% 05/15/24 05/17/27 563 QUARTERLY Fahey Banking Co 250,000 253,885.00 4.700% 05/21/24 05/21/27 567 QUARTERLY Crown Bank Edina 250,000 253,715.00 4.650% 05/23/24 05/24/27 570 QUARTERLY City of Clovis
Certificates of Deposit
As of October 31, 2025
ATTACHMENT 3

MARKET INTEREST INVEST MATURITY MATURITY FROM INTEREST
Negotiable CDs COST PRICE RATE DATE DATE 10/31/25 FREQUENCY City of Clovis
Certificates of Deposit
As of October 31, 2025
Gilmer Natl Bk 250,000 254,182.50 4.750% 06/07/24 06/07/27 584 QUARTERLY First Fndtn Bk 250,000 254,770.00 4.900% 06/13/24 06/14/27 591 QUARTERLY Empower Fed Cr Un 250,000 254,927.50 4.900% 06/26/24 06/28/27 605 QUARTERLY Optum Bk Draper 250,000 254,112.50 4.700% 07/10/24 07/12/27 619 QUARTERLY Generations Cmnty Fed Cr Un 250,000 251,445.00 4.000% 08/21/24 08/23/27 661 QUARTERLY National Bk Superior 250,000 249,165.00 3.500% 10/08/24 10/08/27 707 QUARTERLY True Sky Cr Un 250,000 252,062.50 4.100% 11/06/24 11/08/27 738 QUARTERLY Workers Cr Un 250,000 252,070.00 4.100% 11/22/24 11/22/27 752 QUARTERLY Morgan Stanley Bk 250,000 251,667.50 4.000% 01/15/25 01/18/28 809 QUARTERLY Carroll County 250,000 254,725.00 4.650% 03/30/23 03/30/28 881 MONTHLY Discover Bank 250,000 253,925.00 4.350% 04/26/23 04/24/28 906 MONTHLY TTCU Fed Cr Un 250,000 258,462.50 5.000% 07/26/23 07/26/28 999 MONTHLY Goldman Sachs Bk 250,000 250,950.00 3.850% 08/05/25 08/07/28 1,011 QUARTERLY Adams Cmnty Bk 250,000 250,900.00 3.850% 08/08/25 08/08/28 1,012 QUARTERLY American Eagle Bk 250,000 250,667.50 3.800% 08/08/25 08/08/28 1,012 QUARTERLY BMW Bk NA 250,000 250,905.00 3.850% 08/15/25 08/15/28 1,019 QUARTERLY Financial Plus Cr Un 250,000 251,022.50 3.850% 08/15/25 08/15/28 1,019 QUARTERLY Connexus Cr Un 250,000 252,027.50 4.000% 08/19/25 08/21/28 1,025 QUARTERLY Fisher Natl Bk 250,000 250,160.00 4.050% 08/28/25 08/28/28 1,032 QUARTERLY Luana Svgs Bk 250,000 250,295.00 3.750% 08/27/25 08/28/28 1,032 QUARTERLY First Natl Bk 250,000 250,337.50 3.750% 08/29/25 08/29/28 1,033 QUARTERLY State Bk India 250,000 249,312.50 3.600% 09/15/25 09/15/28 1,050 QUARTERLY BNY Mellon NA 250,000 249,060.00 3.550% 09/17/25 09/18/28 1,053 QUARTERLY Civic Fed Cr Un 250,000 249,647.50 3.650% 09/26/25 09/26/28 1,061 QUARTERLY United Bankers 250,000 248,582.50 3.500% 10/31/25 10/31/28 1,096 MONTHLY Wells Fargo Natl Bk 250,000 259,635.00 5.050% 11/14/23 11/14/28 1,110 MONTHLY Consumers Fed Cr Un 250,000 259,327.50 5.000% 11/16/23 11/16/28 1,112 MONTHLY San Francisco Fed Cr Un 250,000 253,932.50 4.250% 11/27/24 11/27/28 1,123 QUARTERLY Amerasia Bk 250,000 252,177.50 4.000% 02/15/24 02/15/29 1,203 MONTHLY Merrick Bk South 250,000 252,667.50 4.050% 12/20/24 06/11/29 1,319 QUARTERLY USF Fed Cr Un 250,000 255,342.50 4.350% 07/30/24 07/30/29 1,368 QUARTERLY Sallie Mae Bk 250,000 254,752.50 4.300% 07/31/24 07/31/29 1,369 QUARTERLY Hope Fed Cr Un 250,000 249,640.00 3.650% 09/29/25 09/29/29 1,429 QUARTERLY Negotiable CD TOTAL 24,250,000$ 24,440,610$
CD TOTAL 24,250,000$ 24,440,610$

NET BOOK MARKET INTEREST INVEST MATURITY MATURITY FROM INTEREST Municipal Securities VALUE PRICE RATE DATE DATE 10/31/25 FREQUENCY Los Angeles CA USD Ref Bond 1,001,438 984,750 1.455% 11/15/21 07/01/26 243 QUARTERLY Chabot Las Positas Cmnty Clg CA 3,454,558 3,432,867 1.080% 07/27/22 08/01/26 274 QUARTERLY Chaffey CA High School Ref Bond 1,553,368 1,550,320 2.475% 06/30/22 08/01/26 274 QUARTERLY Huntington Beach HS Dist Ref Bond 3,264,585 3,240,057 1.208% 04/29/22 08/01/26 274 QUARTERLY Placentia Yorba USD Ref Bond 1,095,262 1,086,679 1.070% 05/31/22 08/01/26 274 QUARTERLY San Diego CA Cmnty Ref Bond 467,309 464,755 2.299% 04/29/22 08/01/26 274 QUARTERLY San Ramon Valley CA USD Ref Bond 2,125,000 2,083,818 1.147% 11/03/21 08/01/26 274 QUARTERLY Sonoma Cnty Jr College Ref Bond 1,984,731 1,979,400 2.447% 06/30/22 08/01/26 274 QUARTERLY San Diego CA Pub Facs Ref Bond 1,601,926 1,594,385 1.812% 08/18/22 10/15/26 349 QUARTERLY CA ST Univ Rev Ref Bond 2,423,919 2,435,500 1.142% 02/17/23 11/01/26 366 QUARTERLY El Dorado CA Irr Dist Ref Bond 1,150,033 1,140,220 1.687% 08/18/22 03/01/27 486 QUARTERLY Rancho Santiago Cmnty Clg 319,801 319,342 1.106% 11/17/22 03/01/27 486 QUARTERLY University Gen Rev Bond 2,279,160 2,297,614 1.316% 10/13/22 05/15/27 561 QUARTERLY El Monte Ca Ref Bond 573,548 576,708 1.326% 03/24/23 06/01/27 578 QUARTERLY Los Angeles CA Dept Wtr Ref Bond 2,045,789 2,027,800 5.516% 04/27/23 07/01/27 608 QUARTERLY Colton CA Jt Uni Sch 1,011,585 1,020,526 1.603% 11/17/22 08/01/27 639 QUARTERLY Contra Costa Ref Bond 856,004 856,909 2.163% 09/15/22 08/01/27 639 QUARTERLY Corona Norco Ref Bond 239,183 243,713 2.297% 09/28/23 08/01/27 639 QUARTERLY Foothill De Anza CCD 515,717 520,479 1.473% 12/15/22 08/01/27 639 QUARTERLY Fremont CA Uni Sch Dist 1,040,920 1,050,027 1.113% 11/17/22 08/01/27 639 QUARTERLY Fremont CA USD Ref Bond 1,120,978 1,105,105 2.000% 05/31/22 08/01/27 639 QUARTERLY Marin CA Cmnty Clg Dist 328,356 332,916 3.330% 11/17/22 08/01/27 639 QUARTERLY Mount San Antonio Cmnty Clg 269,290 272,640 1.139% 11/17/22 08/01/27 639 QUARTERLY Mount San Antonio Ref Bond 390,732 395,499 2.329% 10/13/22 08/01/27 639 QUARTERLY Saddleback VY Uni Ref Bond 2,955,826 2,930,700 2.400% 08/10/22 08/01/27 639 QUARTERLY San Diego CA Com CD 572,610 576,247 2.407% 12/15/22 08/01/27 639 QUARTERLY San Ramon Valley Ref Bond 1,379,704 1,381,403 3.415% 09/15/22 08/01/27 639 QUARTERLY Santa Monica Cmnty Clg Ref Bond 992,716 992,200 3.050% 09/15/22 08/01/27 639 QUARTERLY Sierra CA Cmnty Clg Dist 440,285 444,754 1.129% 11/17/22 08/01/27 639 QUARTERLY William Hart CA Un High 189,213 190,956 1.174% 11/17/22 08/01/27 639 QUARTERLY San Jose CA Txble Ser B 881,121 891,718 2.600% 10/13/22 09/01/27 670 QUARTERLY Soquel Creek Cnty Ref Bond 513,576 516,257 1.445% 05/18/23 03/01/28 852 QUARTERLY Gardena Calif Pension Oblig 944,397 967,570 2.663% 10/19/23 04/01/28 883 QUARTERLY Beverly Hills Ref Bond 593,221 598,989 1.514% 06/15/23 06/01/28 944 QUARTERLY California Health FACS 732,972 750,059 3.378% 11/16/23 06/01/28 944 QUARTERLY Alameda Cnty Calif 527,743 537,786 3.519% 03/21/24 08/01/28 1,005 QUARTERLY Desert CA Cmnty College 943,809 956,510 2.023% 01/19/24 08/01/28 1,005 QUARTERLY Long Beach Calif Cmnty 690,878 701,413 2.337% 03/21/24 08/01/28 1,005 QUARTERLY Redondo Beach Ref Bond 616,328 632,104 1.430% 09/28/23 08/01/28 1,005 QUARTERLY San Ramon Valley CA Uni 1,693,012 1,724,705 1.670% 07/13/23 08/01/28 1,005 QUARTERLY Santa Ana College Impt 1,380,901 1,401,915 1.320% 07/13/23 08/01/28 1,005 QUARTERLY Santa Clarita CA Cmnty 932,414 943,370 1.563% 01/19/24 08/01/28 1,005 QUARTERLY William Hart CA High 928,428 936,180 1.429% 12/21/23 08/01/28 1,005 QUARTERLY Yosemite Calif Cmnty Clg 710,411 721,200 2.210% 12/21/23 08/01/28 1,005 QUARTERLY Los Angeles Calif Cmnty 1,026,978 1,045,936 5.520% 02/13/25 08/01/29 1,370 QUARTERLY Riverside Calif Cmnty 1,831,252 1,859,760 1.785% 03/27/25 08/01/29 1,370 QUARTERLY Berkeley Calif Jt Pwrs 3,033,671 3,048,720 4.375% 07/24/25 10/01/29 1,431 QUARTERLY Santa Clara VY 728,432 726,280 1.622% 09/26/25 04/01/30 1,613 QUARTERLY University CA 2,720,896 2,713,050 1.614% 09/26/25 05/15/30 1,657 QUARTERLY Marin CA Cmnty Clg 451,724 451,475 1.610% 09/26/25 08/01/30 1,735 QUARTERLY California ST 5,252,564 5,222,200 4.875% 09/02/25 09/01/30 1,766 QUARTERLY Imperial Calif Irr Dist 1,116,506 1,107,502 4.160% 10/31/25 11/01/30 1,827 QUARTERLY Mun. Securities TOTAL 65,894,777$ 65,982,985 $
Municipal Securities TOTAL 65,894,777$ 65,982,985 $
City of Clovis
Municipal Securities
As of October 31, 2025
ATTACHMENT 4

NET BOOK MARKET INTEREST INVEST MATURITY MATURITY FROM INTEREST Corporate Securities VALUE PRICE RATE DATE DATE 10/31/25 FREQUENCY Duke Energy Carolinas 1,967,067 2,002,120 3.950% 02/16/24 11/15/28 1,111 QUARTERLY Toyota MTR Cr Corp 1,994,792 2,039,480 4.650% 02/16/24 01/05/29 1,162 QUARTERLY Procter & Gamble Co 1,996,460 2,033,340 4.350% 02/16/24 01/29/29 1,186 QUARTERLY Air Products and Chemicals Inc 1,994,719 2,035,420 4.600% 07/29/24 02/08/29 1,196 QUARTERLY Texas Instrument Inc 2,006,504 2,042,640 4.600% 05/24/24 02/08/29 1,196 QUARTERLY Cummins Inc 2,021,740 2,055,660 4.900% 07/29/24 02/20/29 1,208 QUARTERLY Bristol-Myers Squibb Co 2,002,790 2,052,500 4.900% 05/24/24 02/22/29 1,210 QUARTERLY AstraZeneca Finance LLC 1,987,683 2,050,880 4.850% 04/19/24 02/26/29 1,214 QUARTERLY Cisco Sys Inc 2,013,466 2,049,740 4.850% 03/21/24 02/26/29 1,214 QUARTERLY Caterpillar Finl 2, 014,194 2,055,620 4.850% 06/21/24 02/27/29 1,215 QUARTERLY Merck Co Inc 1,931,156 1,960,420 3.400% 03/21/24 03/07/29 1,223 QUARTERLY Blackrock Funding Inc 2,006,762 2,044,320 4.700% 03/21/24 03/14/29 1,230 QUARTERLY Adobe Inc 2,007,325 2,051,160 4.800% 05/24/24 04/04/29 1,251 QUARTERLY Home Depot Inc 1,994,459 2,058,680 4.900% 04/19/24 04/15/29 1,262 QUARTERLY Midamerican Energy Co 1,979,220 1,484,415 3.650% 11/20/24 04/15/29 1,262 QUARTERLY United Health Group 1,460,774 2,037,620 4.700% 04/19/24 04/15/29 1,262 QUARTERLY Glaxosmithkline Capital 1,920,271 1,955,500 3.375% 06/21/24 06/01/29 1,309 QUARTERLY John Deere Capital 2,009,442 2,055,540 4.850% 06/21/24 06/11/29 1,319 QUARTERLY Citibank NA 2,032,380 2,048,760 4.838% 08/15/24 08/06/29 1,375 QUARTERLY Honeywell Intl Inc 2,070,050 2,059,220 4.875% 09/27/24 09/01/29 1,401 QUARTERLY Unilever Capital Corp 1,379,555 1,403,250 2.125% 11/20/24 09/06/29 1,406 QUARTERLY Paccar Financial Corp 1,964,800 2,002,140 4.000% 12/19/24 09/26/29 1,426 QUARTERLY State Street Corp 1,828,793 1,878,660 2.400% 02/13/25 01/24/30 1,546 QUARTERLY Pepsico Inc 2,987,142 3,067,050 4.600% 02/13/25 02/07/30 1,560 QUARTERLY Eli Lilly & Co 3, 000,000 3,081,180 4.750% 02/13/25 02/12/30 1,565 QUARTERLY Target Corp 1,841,093 1,865,280 2.350% 03/27/25 02/15/30 1,568 QUARTERLY Hershey Co 2,030,727 2,047,440 4.750% 03/27/25 02/24/30 1,577 QUARTERLY Johnson & Johnson 2,022,842 2,061,680 4.700% 03/27/25 03/01/30 1,582 QUARTERLY President & Fellow 2,550,238 2,583,075 4.887% 04/23/25 03/15/30 1,596 QUARTERLY Kimberly Clark Corp 2,388,212 2,402,125 3.100% 05/30/25 03/26/30 1,607 QUARTERLY Mastercard Inc 1,913,707 1,949,200 3.350% 03/27/25 03/26/30 1,607 QUARTERLY Nike Inc 2,363,110 2,378,750 2.850% 05/30/25 03/27/30 1,608 QUARTERLY Gen Dynamics Corp 2,426,235 2,451,775 3.625% 04/23/25 04/01/30 1,613 QUARTERLY Costco Whsl Corp 1,814,475 1,807,900 1.600% 08/28/25 04/20/30 1,632 QUARTERLY Pfizer Investment Enterprise 2,037,180 2,040,900 4.650% 06/27/25 05/19/30 1,661 QUARTERLY Applied Materials Inc 2,011,741 2,250,075 1.750% 10/16/25 06/01/30 1,674 QUARTERLY Dartmouth College 2,280,715 2,018,980 4.273% 07/29/25 06/01/30 1,674 QUARTERLY Trustees Princeton Univ 2,056,864 2,050,860 4.146% 08/28/25 07/01/30 1,704 QUARTERLY Stanford Univ 2,018,324 2,010,660 4.647% 08/28/25 08/01/30 1,735 QUARTERLY Auto Data Process 2,646,989 2,636,730 1.250% 09/26/25 09/01/30 1,766 QUARTERLY Corp. Securities TOTAL 82,973,996$ 84,160,745 $
Corporate Securities TOTAL 82,973,996$ 84,160,745 $
City of Clovis
Corporate Securities
As of October 31, 2025
ATTACHMENT 5

Treasury Rates as of October 31, 2025
3 month Treasury bill 3.89
6 month Treasury bill 3.79
2 Yr Treasury note 3.60
3 Yr Treasury note 3.60
5 Yr Treasury note 3.71
10 Yr Treasury note 4.11

CITY OF CLOVIS

FINANCE DEPARTMENT
OCTOBER 31, 2025 TREASURY RATES
As indicated in the above graph, treasuries decreased from 3-month to 3-year notes, and increased from 3-year to 10-year notes.
0 1
2 3
4 5
6 3 month
Treasury bill
6 month
Treasury bill
2 Yr Treasury
note
3 Yr Treasury
note
5 Yr Treasury
note
10 Yr
Treasury note

INTEREST RATES

TREASURIES
TREASURY RATES ON OCTOBER 31, 2025
ATTACHMENT 6

Report to the City Council

To: City Council
From: Finance Department
Date: April 20, 2026
Staff: Angela Papazian, Deputy Finance Director
Subject: Finance – Receive and File – Treasurer's Report for the Month of October, 2025.

Recommendation: Receive and File
Attachments:

1. Treasurer's Report October ATT 1 Cash Balances

2. Treasurer's Report October ATT 2 Inv Activity

3. Treasurer's Report October ATT 3 Orig Maturities

Recommendation:

Staff recommends that the City Council receive and file the Treasurer’s Report for the Month of October 2025.

Executive Summary:

Attached for the Council’s information is the Treasurer’s Report for the month ended October 31, 2025.

Pursuant to Section 41004 of the Government Code of the State of California, the City Treasurer is required to submit a monthly report of all receipts, disbursements, and fund balances. Attachment 1 provides a summary of the beginning balance, total receipts, total disbursements, ending balance for all funds, and a listing, by fund, of all month-end fund balances. Attachment 2 summarizes the investment activity for the month and distribution, by type of investment, held by the City. Attachment 3 lists all investments with original maturities exceeding one year as of the month ended October 31, 2025.

Background:

State law (Government Code Section 53646(b)) requires that the City Treasurer provide quarterly reports on their investment activities to their governing body.

Fiscal Impact:

None.

Reason for Recommendation:

The Finance report is for information only and no action is required.

Actions Following Approval:

Staff will file the report.

Conflict of Interest:

None.

Previous Balance 5,123,148.99$
Deposits 35,868,837.57
Disbursements (33,394,374.38)
Current Balance 7,597,612.18$

FUNDS BALANCE
100 General Fund (6,363,671.06) $
101 General Fund - Measure Y 9,811,817.08
201 Local Transportation 20,359,745.24
202 Parking and Business Improvements 252,127.29
203 Off Highway Use 78,453.62
204 Community Facilities District 2020-1 433,199.37 205 Senior Citizen Memorial Trust 70,488.82
207 Landscape Assessment District 8,518,426.63
208 Blackhorse III (95-1) Assessment District (353.56) 209 Blackhorse III (95-1) Assessment District 2 40,322.77 275 HCD Block Grant Fund 813,042.09
301 Park & Recreation Acquisition 9,137,545.72
304 Affordable Housing 1,147,055.10
305 Refuse Equipment Reserve 2,983,458.86
310 Special Street Deposit Fund 61,225,407.50
314 Housing Successor Agency 442,033.00
402 1976 Fire Bond Redemption 25,446.16
404 1976 Sewer Bond Redemption Fund 453,849.89
501 Community Sanitation Fund 16,596,966.10
502 Sewer Service Fund 39,647,246.46
504 Sewer Capital Projects-Users 771,250.43
506 Sewer Capital Projects-Developer (748,099.91)
507 Water Service Fund 49,757,289.51
508 Water Capital Projects-Users 8,024,612.32
509 Water Capital Projects-Developer 12,520,276.71 515 Transit Fund 18,801,513.08
540 Planning & Development Services 16,665,338.11
601 Property & Liability Insurance 1,424,958.66
602 Fleet Maintenance 31,170,163.20
603 Employee Benefit Fund 23,057,517.87
604 General Government Services 26,109,736.90
605 Facilities Maintenance 5,858,005.90
606 Information Technology 6,228,160.08
701 Curb & Gutter Fund 179,176.90
703 Payroll Tax & Withholding Fund 1,065,169.70
712 Temperance/Barstow Assmt Dist (98-1) 84,463.29 713 Shepherd/Temperance Assmt Dist (2000-1) 5,679.34 715 Supp Law Enforcement Serv 11,441.64
716 Asset Forfeiture 693,269.22
720 Measure A-Public Safety Facility Tax 2,164.46
736 SA Admin Trust Fund 1,421.40
741 SA Debt Service Trust Fund (129,819.31)
747 Housing Successor Trust Fund 1,137.98
SUBTOTALS 367,227,434.56$
999 Invested Funds (359,629,822.38)
TOTAL 7,597,612.18$
Statement of Cash Balances
As of October 31, 2025
City of Clovis
ATTACHMENT 1

Balance of Investments Previous Month End 367,587,571.46 $ Time Certificates of Deposit Transactions
Investments 250,000.00
Withdrawals (2,500,000.00)
Total CD Changes (2,250,000.00)
Other Changes
Government Securities 134,137.00
Local Agency Investment Fund 661,949.73
Municipal Securities 4,360,236.00
Corporate Securities 2,306,747.00
Sweep Account (13,170,818.81)
Total Other Changes (5,707,749.08)
Balance of Investments Current Month End 359,629,822.38$ Insured CD's 24,250,000.00
Government Securities 104,597,269.10
Corporation Securities 82,973,996.00
Local Agency Investment Fund 61,258,856.38
Municipal Securities 65,894,776.55
Sweep Account 20,654,924.35
Investment Total 359,629,822.38$
For the month of October 31, 2025
City of Clovis
Distribution of Investments
As of October 31, 2025
City of Clovis
Summary of Investment Activity
ATTACHMENT 2

Investment
Balance At Stated
Institution Face Value Amortized Cost Maturity Rate
FHLB 980,000.00 947,914.00 11/25/2025 0.500%
FFCB 5,000,000.00 4,997,643.00 2/11/2026 0.580%
FHLB 4,000,000.00 3,994,090.00 2/24/2026 0.750%
FHLB 3,000,000.00 2,967,281.00 3/16/2026 0.790%
FHLB 5,000,000.00 4,994,039.00 9/28/2026 0.940%
FHLB 4,000,000.00 3,919,728.00 10/28/2026 1.150%
FHLB 6,000,000.00 5,997,444.00 11/24/2026 1.250%
FHLB 5,000,000.00 5,029,042.60 12/11/2026 2.125%
FHLB 4,500,000.00 4,370,843.00 2/24/2027 1.020%
FHLB 5,000,000.00 4,868,977.00 2/24/2027 1.020%
FHLB 4,000,000.00 3,917,893.00 2/26/2027 0.900%
FHLB 6,800,000.00 6,565,556.00 2/26/2027 0.900%
FHLB 5,700,000.00 5,752,754.00 2/26/2027 0.900%
FHLB 6,000,000.00 5,495,714.00 2/26/2027 1.000%
FHLB 4,000,000.00 4,000,000.00 3/8/2027 2.375%
FHLB 6,000,000.00 5,605,476.00 2/22/2028 0.830%
FHLB 400,000.00 374,681.00 2/25/2028 1.125%
FFCB 2,500,000.00 2,301,643.00 3/2/2028 1.000%
FHLB 3,000,000.00 2,056,282.50 3/10/2028 4.500%
FFCB 2,245,000.00 3,060,906.00 3/10/2028 1.000%
FFCB 700,000.00 658,112.00 3/22/2028 1.370%
FFCB 6,000,000.00 6,050,664.00 4/25/2028 3.875%
FFCB 5,500,000.00 5,425,569.00 4/27/2028 3.740%
FFCB 3,000,000.00 2,787,954.00 6/22/2028 4.470%
FFCB 1,000,000.00 914,627.00 7/13/2028 1.230%
FHLMC 1,000,000.00 911,851.00 7/27/2028 1.100%
FNMA 1,000,000.00 929,876.00 7/28/2028 1.000%
FHLB 1,000,000.00 2,989,319.00 8/4/2028 1.300%
FFCB 3,000,000.00 905,030.00 9/8/2028 4.750%
FHLMC 1,000,000.00 1,806,360.00 10/19/2028 1.000%
Government Maturities Exceeding One Year
As of October 31, 2025
City of Clovis
ATTACHMENT 3

Investment
Balance At Stated
Institution Face Value Amortized Cost Maturity Rate
LA CUSD GO Bonds 1,000,000.00 1,001,438.00 7/1/2026 1.455% Chabot Las Positas Comm Coll 3,505,000.00 3,454,558.00 8/1/2026 1.080% Chaffey Joint Union HS 1,565,000.00 1,553,367.50 8/1/2026 2.475% Huntington Beach Union HS 3, 305,000.00 3,264,585.00 8/1/2026 1.208% Placentia Yorba Linda USD 1,110,000.00 1,095,262.00 8/1/2026 1.070% San Diego Comm Coll Dist 470,000.00 467,309.00 8/1/2026 2.299% San Ramon Valley CUSD 2,125,000.00 2,125,000.00 8/1/2026 1.147% Sonoma County Jr Coll Dist 2, 000,000.00 1,984,731.00 8/1/2026 2.447% San Diego Pub Facilities Dist 1, 625,000.00 1,601,926.00 10/15/2026 1.812% California St Univ Taxable 2021B 2,500,000.00 2,423,919.00 11/1/2026 1.142% El Dorado Irrigation Dist 1, 175,000.00 1,150,033.00 3/1/2027 1.687% Rancho Santiago CC Ref 2020 335,000.00 319,800.50 3/1/2027 1.106% UC Taxable Gen Bds 2020 B 2, 385,000.00 2,279,159.50 5/15/2027 1.316% El Monte HSD Taxable Ref 2021 600,000.00 573,548.00 6/1/2027 1.326% LA Dept Wtr Pwr Rev Bonds 2010C 2,000,000.00 2,045,789.00 7/1/2027 5.516% Colton CA USD Ref Bonds 2020 1,060,000.00 1,011,585.00 8/1/2027 1.603% Contra Costa Comm College Dist 880,000.00 856,004.00 8/1/2027 2.163% Corona Norco USD Ref Bond 2019 250,000.00 239,183.00 8/1/2027 2.297% Foothill De Anza CC Taxable 2021 540,000. 00 515,717.00 8/1/2027 1.473% Fremont USD Alameda County 1, 100,000.00 1,040,920.00 8/1/2027 1.113% Fremont USD Taxable Ref 2021 1,140,000.00 1,120,978.00 8/1/2027 2.000% Marin County Comm Coll 2016 335,000.00 328,355.80 8/1/2027 3.330% Mount San Antonio CC 2021 285,000.00 269,290.00 8/1/2027 1.139% Mount San Antonio Comm Coll 405,000.00 390,731.75 8/1/2027 2.329% Saddleback Valley USD 3,000,000.00 2,955,826.00 8/1/2027 2.400% San Diego CCD Taxable 2019 590,000.00 572,610.00 8/1/2027 2.407% San Ramon Valley CUSD 1,435,000.00 1,379,704.00 8/1/2027 1.440% Santa Monica Comm College Dist 1,000,000.00 992,716.00 8/1/2027 3.415% Sierra CA CCD 2021A Ref 465,000.00 440,284.50 8/1/2027 1.129% William Hart USD 2020 Ref 200,000.00 189,213.00 8/1/2027 1.174% San Jose Ca Taxable Series B 910,000.00 881,121.00 9/1/2027 2.600% Soquel Creek Wtr Ref 2020 545,000.00 513,575.50 3/1/2028 1.445% Gardena Calif Pension Obligation 1,000,000.00 944,397.00 4/1/2028 2.663% Beverly Hills Taxable Ref 2020B 635,000.00 593,220.50 6/1/2028 1.514% California Health Facs Fing Au 760,000.00 732,972.00 6/1/2028 3.378% Alameda Cnty Calif 540,000.00 527,743.00 8/1/2028 3.519% Desert CA Cmnty College 1,000,000.00 943,809.00 8/1/2028 2.023% Long Beach Calif Cmnty 730,000.00 690,878.00 8/1/2028 2.337% Redondo Beach CA Uni Bond 2018 675,000.00 616,328.00 8/1/2028 1.430% San Ramon Valley CA 1,820,000.00 1,693,012.00 8/1/2028 1.670% Santa Ana College Impt 1,500, 000.00 1,380,901.00 8/1/2028 1.320% Santa Clarita Calif Cmnty 1 ,000,000.00 932,414.00 8/1/2028 1.563% William Hart High 1,000,000.00 928,428.00 8/1/2028 1.429% Yosemite Calif Cmnty College 750,000.00 710,411.00 8/1/2028 2.210% Los Angeles Community College Dist 1,250,000.00 1,026,978.00 8/1/2029 5.520% Riverside Community College Dist 2,000,000.00 1,831,252.00 8/1/2029 1.785% Berkeley Calif Jt Pwers 3,000,000.00 3,033,671.00 10/1/2029 4.375% Santa Clara Valley Transport 800,000.00 728,432.00 4/1/2030 1.622% University of California 3,000,000.00 2,720,896.00 5/15/2030 1.614% Marin Community College 500,000.00 451,724.00 8/1/2030 1.610% State of California 2,000, 000.00 2,091,928.00 9/1/2030 4.875% State of California 3,000, 000.00 3,160,636.00 9/1/2030 4.875% Imperial Irrigation District 1,100,000.00 1,116,506.00 11/1/2030 4.160% As of October 31, 2025
City of Clovis
Municipal Maturities Exceeding One Year

Investment
Balance At Stated
Institution Face Value Amortized Cost Maturity Rate
Duke Energy Carolinas LLC 2,000,000.00 1,967,067.00 11/15/2028 3.950% Toyota MTR Cr Corp 2,000,000.00 1,994,792.00 1/5/2029 4.350% Procter & Gamble Co 2,000,000.00 1,996,460.00 1/29/2029 4.650% Air Products and Chemicals 2,000,000.00 1,994,719.00 2/8/2029 4.600% Texas Instrument Inc 2,000,000.00 2,006,504.00 2/8/2029 4.600% Cummins Inc 2,000,000.00 2,021,740.00 2/20/2029 4.900%
Bristol-Myers Squibb Co 2,000,000.00 2,002,790.00 2/22/2029 4.900% Astrazeneca Finance LLC 2,000,000.00 1,987,683.00 2/26/2029 4.850% Cisco Sys Inc. 2,000,000.00 2,013,466.00 2/26/2029 4.850% Caterpillar Finl 2,000,000.00 2,014,194.00 2/27/2029 4.850% Merck Co Inc. 2,000,000.00 1,931,156.00 3/7/2029 3.400% Blackrock Fund Inc. 2,000,000.00 2,006,762.00 3/14/2029 4.700% Adobe Inc 2,000,000.00 2,007,325.00 4/4/2029 4.800%
Home Depot Inc. 2,000,000.00 1,994,459.00 4/15/2029 4.900% United Health Group 2,000,000.00 1,979,220.00 4/15/2029 4.700% Midamerican Energy Co 1,500,000.00 1,460,774.00 4/15/2029 3.650% Glaxosmithkline Capital 2,000,000.00 1,920,271.00 6/1/2029 3.375% John Deere Capital 2,000,000.00 2,009,442.00 6/11/2029 4.850% Citibank NA 2,000,000.00 2,032,380.00 8/6/2029 4.838%
Honeywell Intl Inc 2,000,000.00 2,070,050.00 9/1/2029 4.875% Unilever Capital Corp 1,500,000.00 1,379,555.00 9/6/2029 2.125% Paccar Financial Group 2,000,000.00 1,964,800.00 9/26/2029 4.000% State Street Corp 2,000, 000.00 1,828,793.00 1/24/2030 2.400% Pepsico Inc 3,000,000.00 2,987,142.00 2/7/2030 4.600%
Eli Lilly & Co 3,000,000.00 3,000,000.00 2/12/2030 4.750% Target Corp 2,000,000.00 1,841,093.00 2/15/2030 2.350%
Hershey Company 2,000,000.00 2,030,727.00 2/24/2030 4.750% Johnson & Johnson 2,000,000.00 2,022,842.00 3/1/2030 4.700% President & Fellow 2,500,000.00 2,550,238.00 3/15/2030 4.887% Kimberly Clark Corp 2,500,000.00 2,388,212.00 3/26/2030 3.100% Mastercard Inc 2,000,000.00 1,913,707.00 3/26/2030 3.350% Nike Inc 2,500,000.00 2,363,110.00 3/27/2030 2.850%
Gen Dynamics Corp 2,500,000.00 2,426,235.00 4/1/2030 3.625% Costco Wholesale Corp 2,000,000.00 1,814,475.00 4/20/2030 1.600% Pfizer Investment Enterprise 2,000,000.00 2,037,180.00 5/19/2030 4.650% Dartmouth College 2,000,000.00 2,011,741.00 6/1/2030 4.273% Applied Materials Inc 2,500,000.00 2,280,715.00 6/1/2030 1.750% Trustees Princeton Univ 2,000,000.00 2,056,864.00 7/1/2030 4.647% Stanford University 2,000,000.00 2,018,324.00 8/1/2030 4.146% Automatic Data Processing 3,000,000.00 2,646,989.00 9/1/2030 1.250% As of October 31, 2025
City of Clovis
Corporate Maturities Exceeding One Year

Report to the City Council

To: City Council
From: Finance Department
Date: April 20, 2026
Staff: Angela Papazian, Deputy Finance Director
Subject: Finance – Receive and File – Investment Report for the Month of November, 2025.

Recommendation: Receive and File
Attachments:

1. Investment Report November ATT 1 Dist of Investments

2. Investment Report November ATT 2 Monthly Inv Trans

3. Investment Report November ATT 3 Cert of Deposit

4. Investment Report November ATT 4 Municipal Securities

5. Investment Report November ATT 5 Corporate Securities

6. Investment Report November ATT 6 Treasury Rates

Recommendation:

Staff recommends that the City Council receive and file the Investment Report for the Month of November 2025.

Executive Summary:

Attached is the Investment Report for the month of November 2025. Shown in Attachment 1 is the distribution of investments which lists all the individual securities owned by the City with the book and market values. Book value is the actual price paid for the investment. Market value is the amount that the investment is worth if sold in the open market. The market value (which fluctuates daily) that is used in the report is as of the last working day of the month. Attachment 2 reflects the monthly investment transactions for the month of November 2025. Attachment 3 lists the certificates of deposit. Attachment 4 lists the municipal securities. Attachment 5 lists the corporate securities. Attachment 6 is a graph of Treasury rates on November 28, 2025.

The investment of the City’s funds is performed in accordance with the adopted Investment Policy.

Funds are invested with the following objectives in mind:

1. Assets are invested in adherence with the safeguards and diversity of a prudent investor.

2. The portfolio is invested in a manner consistent with the primary emphasis on preservation of the

principal, while attaining a high rate of return consistent with this guideline. Trading of securities for the sole purpose of realizing trading profits is prohibited.

3. Sufficient liquidity is maintained to provide a source for anticipated financial obligations as they become due.

4. Investments may be made, consistent with the Investment Policy Guidelines, in fixed income securities maturing in three years or less and can be extended to five years with the City Manager’s approval.

The Finance Department invests the City’s assets with an expectation of achieving a total rate of return at a level that exceeds the annualized rate of return on short-term government guaranteed or insured obligations (90-day Treasury bills) and to assure that the principal is preserved with minimal risk of depreciation or loss. In periods of rising interest rates, the City of Clovis portfolio return may be less than that of the annualized 90-day Treasury bill. In periods of decreasing interest rates, the City of Clovis portfolio return may be greater than the annualized 90-day Treasury bill. The current 90-day Treasury bill rate (annualized) is 4.25%. The rate of return for the City of Clovis portfolio is

3.79%. The goal for the City of Clovis investment return is 120% of the 90-day Treasury bill rate. The current rate of return is 89% of the Treasury bill rate.

The Finance Department began investing in corporate securities in February 2024 to provide additional diversification and yield to the portfolio. To date, 40 corporate securities have been purchased at a net book value of $83,003,116 as of November 30, 2025. Their average yield is

4.01%, which is roughly 43 basis points higher than current yields on 5-year Treasury bonds.

In accordance with the Investment Policy, the investment period for each investment is up to three years and can be extended to five years with the City Manager’s approval. As of November 2025, the average investment life of the City’s investment portfolio is 1.80 years.

Current Investment Environment and Philosophy

During the month of November 2025, the federal funds rate target range was 3.75%-4.00%. On November 28, 2025, the Treasury yield curve decreased from 3-month to 3-year notes and increased from 3-year to 10-year notes.

Certificates of Deposit (CD’s)

The City purchases both negotiable and non-negotiable Certificates of Deposit (CD’s). Although negotiable CD’s can be traded, it is the City’s policy to buy and hold all CD’s. Negotiable CDs are held by U.S. Bank, a third-party custodian. Non-negotiable CDs are held in the City’s safe.

Purchases and Maturities

• 0 government securities were purchased.
• 1 government security matured.
• 1 certificate of deposit was purchased.
• 3 certificates of deposit totaling $750,000 matured.
• 1 municipal security was purchased.
• 0 municipal securities were called or matured.
• 0 corporate securities were purchased.

• 0 corporate securities were called or matured.

Market Environment

• During November, the federal funds target rate range was 3.75%-4.00%. • On November 28th, the yield curve decreased from 3-month to 3-year notes and increased from 3- year to 10-year notes. See Attachment 6, Graph of Treasury Rates on November 28, 2025.

Background:

State law (Government Code Section 53646(b)) requires that the City Treasurer provide quarterly reports on their investment activities to their governing body.

Fiscal Impact:

None.

Reason for Recommendation:

The Finance report is for information only and no action is required.

Actions Following Approval:

Staff will file the report.

Conflict of Interest:

None.

STATED

DAYS TO

MATURITY

NET BOOK MARKET YIELD TO INTEREST INVEST MATURIT Y FROM COST VALUE VALUE * MATURIT Y RATE DATE DATE 11/30/2025

GOV'T SECURITIES
FHLB 4,963,000 4,998,329 4,967,350 0.750% 0.580% 09/08/21 02/11/26 73 FHLB 3,922,000 3,995,618 3,968,760 1.229% 0.750% 12/16/21 02/24/26 86 FHLB 2,751,000 2,974,498 2,972,730 3.916% 0.790% 05/17/23 03/16/26 106 FFCB 4,967,500 4,994,578 4,888,650 1.075% 0.940% 10/14/21 09/28/26 302 FHLB 3,649,200 3,926,380 3,909,640 3.342% 1.150% 06/29/22 10/28/26 332 FHLB 5,988,000 5,997,641 5,859,420 1.291% 1.250% 11/24/21 11/24/26 359 FHLB 5,127,757 5,026,896 4,925,200 1.580% 2.125% 01/20/22 12/11/26 376 FHLB 4,043,250 4,378,899 4,331,457 3.397% 1.020% 06/29/22 02/24/27 451 FHLB 4,550,000 4,877,149 4,874,328 3.173% 1.020% 08/17/22 02/24/27 451 FHLB 3,695,200 3,922,993 3,998,406 2.564% 0.900% 03/31/22 02/26/27 453 FHLB 6,072,400 6,580,119 6,570,665 3.737% 0.900% 01/19/23 02/26/27 453 FHLB 5,247,000 5,768,111 5,677,537 4.329% 0.900% 02/16/23 02/26/27 453 FHLB 5,050,770 5,508,404 5,513,268 3.971% 1.000% 12/14/22 02/26/27 453 FHLB 4,000,000 4,000,000 3,936,760 2.375% 2.375% 03/08/22 03/08/27 463 FFCB 5,160,000 5,619,499 5,652,720 3.996% 0.830% 03/23/23 02/22/28 814 FHLB 355,160 375,577 378,616 4.123% 1.125% 01/18/24 02/25/28 817 FFCB 2,123,750 2,308,619 2,361,875 4.812% 1.000% 09/27/23 03/02/28 823 FHLB 1,893,209 2,062,858 2,116,743 5.018% 1.000% 10/18/23 03/10/28 831 FHLB 3,124,500 3,058,784 3,063,270 3.553% 4.500% 05/17/23 03/10/28 831 FFCB 626,780 659,551 666,344 4.121% 1.370% 01/18/04 03/22/28 843 FFCB 6,102,000 6,048,989 6,037,200 3.501% 3.875% 04/26/23 04/25/28 877 FFCB 5,354,250 5,428,025 5,471,785 4.349% 3.740% 06/14/23 04/27/28 879 FFCB 2,641,500 2,794,406 2,823,600 4.130% 1.230% 12/20/23 07/13/28 956 FHLMC 853,500 917,188 937,100 4.601% 1.100% 11/15/23 07/27/28 970 FNMA 848,800 914,493 934,550 4.613% 1.000% 11/15/23 07/28/28 971 FHLB 882,500 931,963 941,690 4.117% 1.300% 12/20/23 08/04/28 978 FHLB 2,981,700 2,989,626 3,093,210 4.892% 4.750% 10/18/23 09/08/28 1,013 FHLMC 842,300 907,658 929,220 4.614% 1.000% 11/15/23 10/19/28 1,054 FFCB 1,799,000 1,809,810 1,815,300 3.764% 1.450% 08/28/25 06/01/30 1,644 SECURITIES TOTAL 99,616,025$ 103,776,660 $ 103,617,394 $ LAIF 61,258,856$ 61,258,856 $
Municipal Issuance 67,375,610$ 67,586,036 $
Corporate Securities 83,003,116$ 84,411,180 $
Sweep Account (Union Bank) 25,127,640$ 25,127,640 $ TOTAL CD'S 23,750,000$ 23,911,528 $
TOTAL INVESTMENTS 364,291,882$ 365,912,634 $
* Market values for securities obtained from US Bank.

City of Clovis
Distribution of Investments
As of November 30, 2025
ATTACHMENT 1

Activity Maturity
Institution Description Activit y Amount Market Value Rate Date Date University Calif Revs Mun Iss. Purchase 1,500,000 1,402,650 1.697% 11/20/25 05/15/29 Covantage Cr Un CD Purchase 250,000 250,000 3.600% 11/06/25 11/06/28 FHLB Gov. Sec. Maturity 950,000 947,914 0.500% 11/25/25 11/25/25 Capital One Natl CD Maturity 250,000 250,000 4.900% 11/17/25 11/17/25 Spokane Teachers CD Maturity 250,000 250,000 5.000% 11/24/25 11/24/25 United Heritage Cr Un CD Maturity 250,000 250,000 4.700% 11/04/25 11/04/25

PORTFOLIO DATA
Current Month (11/25)
Book Market
CD'S 23,750,000 $ 23,911,528 $
Gov't Securities* 103,776,660 103,617,394
Municipal Securities 67,375,610 67,586,036
Corporate Securities 83,003,116 84,411,180
LAIF 61,258,856 61,258,856
Sweep Account (Union Bank) 25,127,640 25,127,640
TOTAL 364,291,882 $ 365,912,634 $
Prior Month (10/25)
Three Months Previous (08/25)
Book Market Book Market
CD'S 24,250,000 $ 24,440,610 $ CD'S 28,500,000 $ 28,667,375 $ Gov't Securities* 104,597,269 104,271,123 Gov't Securities* 112,307,499 111,833,574 Municipal Securities 65,894,771 65,982,985 Municipal Securities 57,827,526 57,892,673 Corporate Securities 82,974,004 84,160,745 Corporate Securities 78,007,256 79,243,980 LAIF 61,258,856 61,258,856 LAIF 60,596,907 60,596,907
Sweep Account (Union Bank) 20,654,924 20,654,924 Sweep Account (Union Bank) 19,231,947 19,231,947 TOTAL 359,629,824 $ 360,769,243 $ TOTAL $356,471,135 357,466,456 $ Six Months Previous (05/25)
One Year Previous (11/24)
Book Market Book Market
CD'S 29,000,000 $ 29,097,303 $ CD'S 32,000,000 $ 32,116,358 $ Gov't Securities* 119,112,733 117,878,004 Gov't Securities* 132,021,224 129,604,615 Municipal Securities 59,995,893 59,691,261 Municipal Securities 57,389,326 56,842,923 Corporate Securities 68,015,988 68,516,435 Corporate Securities 40,735,231 40,952,509 LAIF 59,940,157 59,940,157 LAIF 58,646,660 58,646,660
Sweep Account (Union Bank) 30,582,117 30,582,117 Sweep Account (Union Bank) 6,114,594 6,114,594 TOTAL $366,646,888 365,705,277 $ TOTAL 326,907,035 $ 324,277,659 $ *Adjusted Quarterly for Premium/Discount Amortization
As of November 30, 2025
Monthly Investment Transactions
City of Clovis
ATTACHMENT 2

MARKET INTEREST INVEST MATURITY MATURITY FROM INTEREST
Negotiable CDs COST PRICE RATE DATE DATE 11/30/25 FREQUENCY Morgan Stanley Private 250,000 249,967.50 4.750% 12/09/22 12/09/25 9 QUARTERLY Community Bank Topeka 250,000 250,055.00 4.300% 12/14/22 12/15/25 15 QUARTERLY Austin Telco Fed 250,000 250,152.50 4.950% 12/16/22 12/16/25 16 QUARTERLY Alliant Credit Union 250,000 250,240.00 5.100% 12/30/22 12/30/25 30 QUARTERLY First Technology Fed Cr Un 250,000 250,252.50 5.150% 06/30/23 12/30/25 30 MONTHLY Liberty First Cr Un 250,000 250,260.00 4.550% 01/17/23 01/19/26 50 QUARTERLY Capital Educators Fed Cr 250,000 250,260.00 4.550% 01/19/23 01/20/26 51 QUARTERLY City Natl Bank 250,000 250,177.50 4.350% 01/25/23 01/26/26 57 QUARTERLY Manufacturers Traders 250,000 250,155.00 4.250% 01/31/23 02/02/26 64 QUARTERLY Coastlife Cr Un 250,000 250,397.50 4.650% 02/13/23 02/13/26 75 QUARTERLY Achieve Finl Cr Un 250,000 250,420.00 4.650% 02/17/23 02/17/26 79 QUARTERLY California Cr Un Glendale 250,000 250,230.00 4.500% 02/23/23 02/23/26 85 QUARTERLY Truliant Fed Cr Un 250,000 250,472.50 4.600% 02/28/23 02/27/26 89 QUARTERLY Pioneer Fed Cr Un Mtn Home 250,000 250,487.50 4.600% 02/28/23 03/02/26 92 QUARTERLY Tradition Cap Bankk 250,000 250,442.50 4.600% 03/03/23 03/03/26 93 MONTHLY Alaska Fed Cr 250,000 250,547.50 4.650% 03/05/23 03/09/26 99 MONTHLY Mid Carolina Credit 250,000 250,812.50 4.600% 03/13/23 03/13/26 103 MONTHLY Blue Ridge Bank 250,000 250,790.00 4.500% 03/16/23 03/16/26 106 MONTHLY Northwest Bank 250,000 250,855.00 4.600% 03/17/23 03/17/26 107 MONTHLY Valleystar Credit Union 250,000 250,880.00 4.600% 03/20/23 03/20/26 110 MONTHLY First Community Bank 250,000 250,845.00 4.500% 03/22/23 03/23/26 113 MONTHLY Technology Credit Union 250,000 250,925.00 4.650% 03/23/23 03/23/26 113 MONTHLY Cibc Bank 250,000 250,820.00 4.650% 03/24/23 03/24/26 114 MONTHLY Signature Bank 250,000 250,912.50 4.500% 03/24/23 03/24/26 114 MONTHLY Point West Credit Union 250,000 251,065.00 5.000% 04/12/23 04/13/26 134 MONTHLY Flagstar Bank 250,000 251,152.50 4.650% 03/30/23 04/24/26 145 MONTHLY Utah Cmnty Credit Union 250,000 250,825.00 4.600% 04/26/23 04/27/26 148 MONTHLY Cross River Bank 250,000 250,955.00 4.650% 05/19/23 05/19/26 170 MONTHLY Raiz FCU 250,000 251,222.50 4.650% 05/24/23 05/26/26 177 MONTHLY Usalliance FCU 250,000 251,100.00 4.700% 05/26/23 05/26/26 177 MONTHLY Chartway Fed Cr Un 250,000 251,442.50 4.900% 06/09/23 06/09/26 191 MONTHLY Customers Bank 250,000 251,170.00 4.700% 06/14/23 06/15/26 197 MONTHLY Lafayette Fed Cr Un 250,000 251,587.50 4.950% 12/13/23 06/15/26 197 QUARTERLY Latino Cmnty Cr Un 250,000 251,625.00 4.900% 06/27/23 06/29/26 211 MONTHLY Leaders Cr Un 250,000 251,710.00 5.000% 06/30/23 06/30/26 212 MONTHLY Farmers Insurance 250,000 251,915.00 5.000% 07/21/23 07/21/26 233 MONTHLY Maine Svgs FCU 250,000 251,915.00 5.000% 07/21/23 07/21/26 233 MONTHLY Popular Bank New York 250,000 252,015.00 4.850% 09/06/23 09/04/26 278 QUARTERLY Freedom Northwest Cr Un 250,000 253,130.00 5.350% 09/19/23 09/18/26 292 QUARTERLY Amex National Bank 250,000 252,497.50 5.000% 09/20/23 09/21/26 295 QUARTERLY First Gty Bank 250,000 252,847.50 5.100% 10/13/23 10/13/26 317 MONTHLY Bridgewater Bank 250,000 253,052.50 5.100% 11/03/23 11/03/26 338 MONTHLY Taylorsville Svgs Bk 250,000 253,052. 50 5.100% 11/03/23 11/03/26 338 MONTHLY Mountain Comm Bk 250,000 251,957.50 4.500% 12/20/23 12/21/26 386 QUARTERLY American Bk Freedom 250,000 251,847.50 4.500% 12/22/23 12/22/26 387 QUARTERLY Rockland Fed Cr Un 250,000 252,222.50 4.600% 12/22/23 12/22/26 387 QUARTERLY Hughes Fed Cr Un 250,000 251,895.00 4.400% 01/29/24 01/29/27 425 QUARTERLY MVB Bk Inc Fairmont 250,000 251,465.00 4.250% 01/31/24 01/29/27 425 QUARTERLY Farmers & Merchants Tr Co 250,000 251,190.00 4.150% 01/30/24 02/01/27 428 QUARTERLY Oregon Cmnty Cr Un 250,000 251,625.00 4.300% 02/09/24 02/09/27 436 MONTHLY Valley Natl Bk 250,000 252,127.50 4.450% 02/21/24 02/22/27 449 MONTHLY CFBank Fairlawn 250,000 252,190.00 4.450% 03/05/24 03/05/27 460 QUARTERLY Haven Svgs Bk 250,000 252,330.00 4.500% 03/06/24 03/08/27 463 QUARTERLY Univest Natl Bk 250,000 252,655.00 4.600% 03/13/24 03/15/27 470 QUARTERLY First Natl Bk 250,000 252,737.50 4.600% 03/19/24 03/19/27 474 QUARTERLY Nicolet Natl Bk 250,000 252,755.00 4.600% 03/22/24 03/22/27 477 QUARTERLY People Bank Co 250,000 253,480.00 4.650% 03/30/23 03/30/27 485 MONTHLY United FID Bank FSB 250,000 252,875.00 4.600% 04/12/24 04/12/27 498 QUARTERLY Maine Cmnty Bk 250,000 253,442.50 4.700% 05/15/24 05/17/27 533 QUARTERLY Fahey Banking Co 250,000 253,467.50 4.700% 05/21/24 05/21/27 537 QUARTERLY Crown Bank Edina 250,000 253,307.50 4.650% 05/23/24 05/24/27 540 QUARTERLY Gilmer Natl Bk 250,000 253,757.50 4.750% 06/07/24 06/07/27 554 QUARTERLY First Fndtn Bk 250,000 254,295.00 4.900% 06/13/24 06/14/27 561 QUARTERLY Empower Fed Cr Un 250,000 254,480.00 4.900% 06/26/24 06/28/27 575 QUARTERLY Optum Bk Draper 250,000 253,675.00 4.700% 07/10/24 07/12/27 589 QUARTERLY Generations Cmnty Fed Cr Un 250,000 251,170.00 4.000% 08/21/24 08/23/27 631 QUARTERLY City of Clovis
Certificates of Deposit
As of November 30, 2025
ATTACHMENT 3

MARKET INTEREST INVEST MATURITY MATURITY FROM INTEREST
Negotiable CDs COST PRICE RATE DATE DATE 11/30/25 FREQUENCY City of Clovis
Certificates of Deposit
As of November 30, 2025
National Bk Superior 250,000 248,992.50 3.500% 10/08/24 10/08/27 677 QUARTERLY True Sky Cr Un 250,000 251,797.50 4.100% 11/06/24 11/08/27 708 QUARTERLY Workers Cr Un 250,000 251,810.00 4.100% 11/22/24 11/22/27 722 QUARTERLY Morgan Stanley Bk 250,000 251,405.00 4.000% 01/15/25 01/18/28 779 QUARTERLY Carroll County 250,000 254,365.00 4.650% 03/30/23 03/30/28 851 MONTHLY Discover Bank 250,000 253,587.50 4.350% 04/26/23 04/24/28 876 MONTHLY TTCU Fed Cr Un 250,000 258,052.50 5.000% 07/26/23 07/26/28 969 MONTHLY Goldman Sachs Bk 250,000 250,715.00 3.850% 08/05/25 08/07/28 981 QUARTERLY Adams Cmnty Bk 250,000 250,665.00 3.850% 08/08/25 08/08/28 982 QUARTERLY American Eagle Bk 250,000 250,467.50 3.800% 08/08/25 08/08/28 982 QUARTERLY BMW Bk NA 250,000 250,670.00 3.850% 08/15/25 08/15/28 989 QUARTERLY Financial Plus Cr Un 250,000 250,815.00 3.850% 08/15/25 08/15/28 989 QUARTERLY Connexus Cr Un 250,000 251,792.50 4.000% 08/19/25 08/21/28 995 QUARTERLY Fisher Natl Bk 250,000 250,250.00 4.050% 08/28/25 08/28/28 1,002 QUARTERLY Luana Svgs Bk 250,000 250,077.50 3.750% 08/27/25 08/28/28 1,002 QUARTERLY First Natl Bk 250,000 250,120.00 3.750% 08/29/25 08/29/28 1,003 QUARTERLY State Bk India 250,000 249,122.50 3.600% 09/15/25 09/15/28 1,020 QUARTERLY BNY Mellon NA 250,000 248,880.00 3.550% 09/17/25 09/18/28 1,023 QUARTERLY Civic Fed Cr Un 250,000 249,475.00 3.650% 09/26/25 09/26/28 1,031 QUARTERLY United Bankers 250,000 248,415.00 3.500% 10/31/25 10/31/28 1,066 MONTHLY Covantage Cr Un 250,000 249,050.00 3.600% 11/06/25 11/06/28 1,072 QUARTERLY Wells Fargo Natl Bk 250,000 259,240.00 5.050% 11/14/23 11/14/28 1,080 MONTHLY Consumers Fed Cr Un 250,000 258,905.00 5.000% 11/16/23 11/16/28 1,082 MONTHLY San Francisco Fed Cr Un 250,000 253,680.00 4.250% 11/27/24 11/27/28 1,093 QUARTERLY Amerasia Bk 250,000 251,892.50 4.000% 02/15/24 02/15/29 1,173 MONTHLY Merrick Bk South 250,000 252,245.00 4.050% 12/20/24 06/11/29 1,289 QUARTERLY USF Fed Cr Un 250,000 254,810.00 4.350% 07/30/24 07/30/29 1,338 QUARTERLY Sallie Mae Bk 250,000 254,202.50 4.300% 07/31/24 07/31/29 1,339 QUARTERLY Hope Fed Cr Un 250,000 249,442.50 3.650% 09/29/25 09/29/29 1,399 QUARTERLY Negotiable CD TOTAL 23,750,000$ 23,911,528$
CD TOTAL 23,750,000$ 23,911,528$

NET BOOK MARKET INTEREST INVEST MATURITY MATURITY FROM INTEREST Municipal Securities VALUE PRICE RATE DATE DATE 11/30/25 FREQUENCY Los Angeles CA USD Ref Bond 1,001,261 986,910 1.455% 11/15/21 07/01/26 213 QUARTERLY Chabot Las Positas Cmnty Clg CA 3,460,081 3,441,840 1.080% 07/27/22 08/01/26 244 QUARTERLY Chaffey CA High School Ref Bond 1,554,642 1,552,527 2.475% 06/30/22 08/01/26 244 QUARTERLY Huntington Beach HS Dist Ref Bond 3,269,009 3,248,187 1.208% 04/29/22 08/01/26 244 QUARTERLY Placentia Yorba USD Ref Bond 1,096,876 1,089,565 1.070% 05/31/22 08/01/26 244 QUARTERLY San Diego CA Cmnty Ref Bond 467,603 465,408 2.299% 04/29/22 08/01/26 244 QUARTERLY San Ramon Valley CA USD Ref Bond 2,125,000 2,088,981 1.147% 11/03/21 08/01/26 244 QUARTERLY Sonoma Cnty Jr College Ref Bond 1,986,403 1,982,400 2.447% 06/30/22 08/01/26 244 QUARTERLY San Diego CA Pub Facs Ref Bond 1,603,910 1,597,976 1.812% 08/18/22 10/15/26 319 QUARTERLY CA ST Univ Rev Ref Bond 2,430,155 2,441,925 1.142% 02/17/23 11/01/26 336 QUARTERLY El Dorado CA Irr Dist Ref Bond 1,151,575 1,143,099 1.687% 08/18/22 03/01/27 456 QUARTERLY Rancho Santiago Cmnty Clg 320,739 320,324 1.106% 11/17/22 03/01/27 456 QUARTERLY University Gen Rev Bond 2,284,820 2,307,583 1.316% 10/13/22 05/15/27 531 QUARTERLY El Monte Ca Ref Bond 574,921 578,358 1.326% 03/24/23 06/01/27 548 QUARTERLY Los Angeles CA Dept Wtr Ref Bond 2,043,530 2,028,500 5.516% 04/27/23 07/01/27 578 QUARTERLY Colton CA Jt Uni Sch 1,013,858 1,023,260 1.603% 11/17/22 08/01/27 609 QUARTERLY Contra Costa Ref Bond 857,131 858,774 2.163% 09/15/22 08/01/27 609 QUARTERLY Corona Norco Ref Bond 239,691 244,230 2.297% 09/28/23 08/01/27 609 QUARTERLY Foothill De Anza CCD 516,857 521,851 1.473% 12/15/22 08/01/27 609 QUARTERLY Fremont CA Uni Sch Dist 1,043,694 1,053,250 1.113% 11/17/22 08/01/27 609 QUARTERLY Fremont CA USD Ref Bond 1,121,871 1,107,727 2.000% 05/31/22 08/01/27 609 QUARTERLY Marin CA Cmnty Clg Dist 328,668 333,020 3.330% 11/17/22 08/01/27 609 QUARTERLY Mount San Antonio Cmnty Clg 270,028 273,452 1.139% 11/17/22 08/01/27 609 QUARTERLY Mount San Antonio Ref Bond 391,402 396,305 2.329% 10/13/22 08/01/27 609 QUARTERLY Saddleback VY Uni Ref Bond 2,957,900 2,936,640 2.400% 08/10/22 08/01/27 609 QUARTERLY San Diego CA Com CD 573,426 578,070 2.407% 12/15/22 08/01/27 609 QUARTERLY San Ramon Valley Ref Bond 1,382,300 1,385,119 3.415% 09/15/22 08/01/27 609 QUARTERLY Santa Monica Cmnty Clg Ref Bond 993,059 994,490 3.050% 09/15/22 08/01/27 609 QUARTERLY Sierra CA Cmnty Clg Dist 441,445 446,084 1.129% 11/17/22 08/01/27 609 QUARTERLY William Hart CA Un High 189,720 192,008 1.174% 11/17/22 08/01/27 609 QUARTERLY San Jose CA Txble Ser B 882,414 893,402 2.600% 10/13/22 09/01/27 640 QUARTERLY Soquel Creek Cnty Ref Bond 514,682 517,952 1.445% 05/18/23 03/01/28 822 QUARTERLY Gardena Calif Pension Oblig 946,286 970,060 2.663% 10/19/23 04/01/28 853 QUARTERLY Beverly Hills Ref Bond 594,549 601,040 1.514% 06/15/23 06/01/28 914 QUARTERLY California Health FACS 733,831 752,856 3.378% 11/16/23 06/01/28 914 QUARTERLY Alameda Cnty Calif 528,109 538,115 3.519% 03/21/24 08/01/28 975 QUARTERLY Desert CA Cmnty College 945,487 959,420 2.023% 01/19/24 08/01/28 975 QUARTERLY Long Beach Calif Cmnty 692,046 703,450 2.337% 03/21/24 08/01/28 975 QUARTERLY Redondo Beach Ref Bond 618,079 634,412 1.430% 09/28/23 08/01/28 975 QUARTERLY San Ramon Valley CA Uni 1,696,803 1,730,401 1.670% 07/13/23 08/01/28 975 QUARTERLY Santa Ana College Impt 1,384,456 1,407,120 1.320% 07/13/23 08/01/28 975 QUARTERLY Santa Clarita CA Cmnty 934,431 946,610 1.563% 01/19/24 08/01/28 975 QUARTERLY William Hart CA High 930,563 943,240 1.429% 12/21/23 08/01/28 975 QUARTERLY Yosemite Calif Cmnty Clg 711,593 723,285 2.210% 12/21/23 08/01/28 975 QUARTERLY University Calif 1,026,606 1,402,380 1.697% 11/20/25 05/15/29 1,262 QUARTERLY Los Angeles Calif Cmnty 1,403,415 1,046,370 5.520% 02/13/25 08/01/29 1,340 QUARTERLY Riverside Calif Cmnty 1,834,947 1,867,640 1.785% 03/27/25 08/01/29 1,340 QUARTERLY Berkeley Calif Jt Pwrs 3,032,965 3,056,400 4.375% 07/24/25 10/01/29 1,401 QUARTERLY Santa Clara VY 729,764 729,928 1.622% 09/26/25 04/01/30 1,583 QUARTERLY University CA 2,725,948 2,745,390 1.614% 09/26/25 05/15/30 1,627 QUARTERLY Marin CA Cmnty Clg 452,559 452,595 1.610% 09/26/25 08/01/30 1,705 QUARTERLY California ST 5,248,274 5,236,350 4.875% 09/02/25 09/01/30 1,736 QUARTERLY Imperial Calif Irr Dist 1,116,231 1,109,757 4.160% 10/31/25 11/01/30 1,797 QUARTERLY Mun. Securities TOTAL 67,375,610$ 67,586,036 $
Municipal Securities TOTAL 67,375,610$ 67,586,036 $
City of Clovis
Municipal Securities
As of November 30, 2025
ATTACHMENT 4

NET BOOK MARKET INTEREST INVEST MATURITY MATURITY FROM INTEREST Corporate Securities VALUE PRICE RATE DATE DATE 11/30/25 FREQUENCY Duke Energy Carolinas 1,967,956 2,005,300 3.950% 02/16/24 11/15/28 1,081 QUARTERLY Toyota MTR Cr Corp 1,994,926 2,040,880 4.650% 02/16/24 01/05/29 1,132 QUARTERLY Procter & Gamble Co 1,996,550 2,039,960 4.350% 02/16/24 01/29/29 1,156 QUARTERLY Air Products and Chemicals Inc 1,994,850 2,039,520 4.600% 07/29/24 02/08/29 1,166 QUARTERLY Texas Instrument Inc 2,006,341 2,045,820 4.600% 05/24/24 02/08/29 1,166 QUARTERLY Cummins Inc 2,021,200 2,061,320 4.900% 07/29/24 02/20/29 1,178 QUARTERLY Bristol-Myers Squibb Co 2,002,721 2,056,660 4.900% 05/24/24 02/22/29 1,180 QUARTERLY AstraZeneca Finance LLC 1,987,986 2,056,240 4.850% 04/19/24 02/26/29 1,184 QUARTERLY Cisco Sys Inc 2,013,133 2,055,380 4.850% 03/21/24 02/26/29 1,184 QUARTERLY Caterpillar Finl 2, 013,844 2,059,220 4.850% 06/21/24 02/27/29 1,185 QUARTERLY Merck Co Inc 1,932,845 1,968,440 3.400% 03/21/24 03/07/29 1,193 QUARTERLY Blackrock Funding Inc 2,006,597 2,048,860 4.700% 03/21/24 03/14/29 1,200 QUARTERLY Adobe Inc 2,007,150 2,056,480 4.800% 05/24/24 04/04/29 1,221 QUARTERLY Home Depot Inc 1,994,591 2,058,620 4.900% 04/19/24 04/15/29 1,232 QUARTERLY Midamerican Energy Co 1,979,715 2,047,000 3.650% 11/20/24 04/15/29 1,232 QUARTERLY United Health Group 1,461,706 1,484,370 4.700% 04/19/24 04/15/29 1,232 QUARTERLY Glaxosmithkline Capital 1,922,098 1,962,020 3.375% 06/21/24 06/01/29 1,279 QUARTERLY John Deere Capital 2,009,227 2,060,060 4.850% 06/21/24 06/11/29 1,289 QUARTERLY Citibank NA 2,031,674 2,052,340 4.838% 08/15/24 08/06/29 1,345 QUARTERLY Honeywell Intl Inc 2,068,550 2,062,280 4.875% 09/27/24 09/01/29 1,371 QUARTERLY Unilever Capital Corp 1,382,125 1,409,520 2.125% 11/20/24 09/06/29 1,376 QUARTERLY Paccar Financial Corp 1,965,541 2,007,740 4.000% 12/19/24 09/26/29 1,396 QUARTERLY State Street Corp 1,832,115 1,888,780 2.400% 02/13/25 01/24/30 1,516 QUARTERLY Pepsico Inc 2,987,390 3,075,960 4.600% 02/13/25 02/07/30 1,530 QUARTERLY Eli Lilly & Co 3, 000,000 3,090,240 4.750% 02/13/25 02/12/30 1,535 QUARTERLY Target Corp 1,844,133 1,872,720 2.350% 03/27/25 02/15/30 1,538 QUARTERLY Hershey Co 2,022,407 2,054,580 4.750% 03/27/25 02/24/30 1,547 QUARTERLY Johnson & Johnson 2,030,140 2,065,300 4.700% 03/27/25 03/01/30 1,552 QUARTERLY President & Fellow 2,549,294 2,588,700 4.887% 04/23/25 03/15/30 1,566 QUARTERLY Kimberly Clark Corp 2,390,300 2,407,775 3.100% 05/30/25 03/26/30 1,577 QUARTERLY Mastercard Inc 1,915,317 1,956,500 3.350% 03/27/25 03/26/30 1,577 QUARTERLY Nike Inc 2,365,664 2,389,075 2.850% 05/30/25 03/27/30 1,578 QUARTERLY Gen Dynamics Corp 2,427,607 2,462,825 3.625% 04/23/25 04/01/30 1,583 QUARTERLY Costco Whsl Corp 2,036,508 1,816,580 1.600% 08/28/25 04/20/30 1,602 QUARTERLY Pfizer Investment Enterprise 2,011,531 2,047,800 4.650% 06/27/25 05/19/30 1,631 QUARTERLY Applied Materials Inc 1,817,885 2,264,375 1.750% 10/16/25 06/01/30 1,644 QUARTERLY Dartmouth College 2,018,007 2,023,280 4.273% 07/29/25 06/01/30 1,644 QUARTERLY Trustees Princeton Univ 2,055,863 2,057,260 4.146% 08/28/25 07/01/30 1,674 QUARTERLY Stanford Univ 2,284,645 2,016,460 4.647% 08/28/25 08/01/30 1,705 QUARTERLY Auto Data Process 2,652,984 2,654,940 1.250% 09/26/25 09/01/30 1,736 QUARTERLY Corp. Securities TOTAL 83,003,116$ 84,411,180 $
Corporate Securities TOTAL 83,003,116$ 84,411,180 $
City of Clovis
Corporate Securities
As of November 30, 2025
ATTACHMENT 5

Treasury Rates as of November 28, 2025
3 month Treasury bill 3.88
6 month Treasury bill 3.74
2 Yr Treasury note 3.47
3 Yr Treasury note 3.49
5 Yr Treasury note 3.59
10 Yr Treasury note 4.02

CITY OF CLOVIS

FINANCE DEPARTMENT
NOVEMBER 28, 2025 TREASURY RATES
As indicated in the above graph, treasuries decreased from 3-month to 3-year notes, and increased from 3-year to 10-year notes.
0 1
2 3
4 5
6 3 month
Treasury bill
6 month
Treasury bill
2 Yr Treasury
note
3 Yr Treasury
note
5 Yr Treasury
note
10 Yr
Treasury note

INTEREST RATES

TREASURIES
TREASURY RATES ON NOVEMBER 28, 2025
ATTACHMENT 6

Report to the City Council

To: City Council
From: Finance Department
Date: April 20, 2026
Staff: Angela Papazian, Deputy Finance Director
Subject: Finance – Receive and File – Treasurer's Report for the Month of November, 2025.

Recommendation: Receive and File
Attachments:

1. Treasurer's Report November ATT 1 Cash Balances

2. Treasurer's Report November ATT 2 Inv Activity

3. Treasurer's Report November ATT 3 Orig Maturities

Recommendation:

Staff recommends that the City Council receive and file the Treasurer’s Report for the Month of November 2025.

Executive Summary:

Attached for the Council’s information is the Treasurer’s Report for the month ended November 30, 2025.

Pursuant to Section 41004 of the Government Code of the State of California, the City Treasurer is required to submit a monthly report of all receipts, disbursements, and fund balances. Attachment 1 provides a summary of the beginning balance, total receipts, total disbursements, ending balance for all funds, and a listing, by fund, of all month-end fund balances. Attachment 2 summarizes the investment activity for the month and distribution, by type of investment, held by the City. Attachment 3 lists all investments with original maturities exceeding one year as of the month ended November 30, 2025.

Background:

State law (Government Code Section 53646(b)) requires that the City Treasurer provide quarterly reports on their investment activities to their governing body.

Fiscal Impact:

None.

Reason for Recommendation:

The Finance report is for information only and no action is required.

Actions Following Approval:

Staff will file the report.

Conflict of Interest:

None.

Previous Balance 7,597,612.18$
Deposits 24,865,664.39
Disbursements (26,600,917.64)
Current Balance 5,862,358.93$

FUNDS BALANCE
100 General Fund (12,740,442.45) $
101 General Fund - Measure Y 13,846,401.04
201 Local Transportation 21,282,144.48
202 Parking and Business Improvements 252,481.38
203 Off Highway Use 78,571.01
204 Community Facilities District 2020-1 433,810.73 205 Senior Citizen Memorial Trust 70,735.73
207 Landscape Assessment District 8,033,574.78
208 Blackhorse III (95-1) Assessment District (14,672.54) 209 Blackhorse III (95-1) Assessment District 2 31,365.85 275 HCD Block Grant Fund 859,717.42
301 Park & Recreation Acquisition 9,200,944.62
304 Affordable Housing 1,148,857.28
305 Refuse Equipment Reserve 2,994,264.12
310 Special Street Deposit Fund 61,417,787.36
314 Housing Successor Agency 442,500.67
402 1976 Fire Bond Redemption 25,446.16
404 1976 Sewer Bond Redemption Fund 454,532.37
501 Community Sanitation Fund 17,049,052.95
502 Sewer Service Fund 39,138,992.29
504 Sewer Capital Projects-Users 814,192.21
506 Sewer Capital Projects-Developer (447,500.92)
507 Water Service Fund 50,189,150.60
508 Water Capital Projects-Users 8,078,543.66
509 Water Capital Projects-Developer 12,859,384.29 515 Transit Fund 18,977,094.07
540 Planning & Development Services 16,573,938.46
601 Property & Liability Insurance 2,262,067.97
602 Fleet Maintenance 31,708,125.51
603 Employee Benefit Fund 23,565,316.72
604 General Government Services 26,207,153.22
605 Facilities Maintenance 6,258,923.68
606 Information Technology 6,471,662.78
701 Curb & Gutter Fund 179,446.79
703 Payroll Tax & Withholding Fund 1,542,135.30
712 Temperance/Barstow Assmt Dist (98-1) 84,587.35 713 Shepherd/Temperance Assmt Dist (2000-1) 5,684.10 715 Supp Law Enforcement Serv 250,982.44
716 Asset Forfeiture 694,322.82
720 Measure A-Public Safety Facility Tax 2,163.57
736 SA Admin Trust Fund 1,421.40
741 SA Debt Service Trust Fund (131,758.37)
747 Housing Successor Trust Fund 1,137.98
SUBTOTALS 370,154,240.88$
999 Invested Funds (364,291,881.95)
TOTAL 5,862,358.93$
Statement of Cash Balances
As of November 30, 2025
City of Clovis
ATTACHMENT 1

Balance of Investments Previous Month End 359,629,822.38 $ Time Certificates of Deposit Transactions
Investments 250,000.00
Withdrawals (750,000.00)
Total CD Changes (500,000.00)
Other Changes
Government Securities (820,609.00)
Local Agency Investment Fund 0.00
Municipal Securities 1,480,833.00
Corporate Securities 29,120.00
Sweep Account 4,472,715.57
Total Other Changes 5,162,059.57
Balance of Investments Current Month End 364,291,881.95$ Insured CD's 23,750,000.00
Government Securities 103,776,660.10
Corporation Securities 83,003,116.00
Local Agency Investment Fund 61,258,856.38
Municipal Securities 67,375,609.55
Sweep Account 25,127,639.92
Investment Total 364,291,881.95$
Distribution of Investments
As of November 30, 2025
City of Clovis
Summary of Investment Activity
For the month of November 30, 2025
City of Clovis
ATTACHMENT 2

Investment
Balance At Stated
Institution Face Value Amortized Cost Maturity Rate
FFCB 5,000,000.00 4,998,329.00 2/11/2026 0.580%
FHLB 4,000,000.00 3,995,618.00 2/24/2026 0.750%
FHLB 3,000,000.00 2,974,498.00 3/16/2026 0.790%
FHLB 5,000,000.00 4,994,578.00 9/28/2026 0.940%
FHLB 4,000,000.00 3,926,380.00 10/28/2026 1.150%
FHLB 6,000,000.00 5,997,641.00 11/24/2026 1.250%
FHLB 5,000,000.00 5,026,895.60 12/11/2026 2.125%
FHLB 4,500,000.00 4,378,899.00 2/24/2027 1.020%
FHLB 5,000,000.00 4,877,149.00 2/24/2027 1.020%
FHLB 4,000,000.00 3,922,993.00 2/26/2027 0.900%
FHLB 6,800,000.00 6,580,119.00 2/26/2027 0.900%
FHLB 5,700,000.00 5,768,111.00 2/26/2027 0.900%
FHLB 6,000,000.00 5,508,404.00 2/26/2027 1.000%
FHLB 4,000,000.00 4,000,000.00 3/8/2027 2.375%
FHLB 6,000,000.00 5,619,499.00 2/22/2028 0.830%
FHLB 400,000.00 375,577.00 2/25/2028 1.125%
FFCB 2,500,000.00 2,308,619.00 3/2/2028 1.000%
FHLB 3,000,000.00 2,062,857.50 3/10/2028 4.500%
FFCB 2,245,000.00 3,058,784.00 3/10/2028 1.000%
FFCB 700,000.00 659,551.00 3/22/2028 1.370%
FFCB 6,000,000.00 6,048,989.00 4/25/2028 3.875%
FFCB 5,500,000.00 5,428,025.00 4/27/2028 3.740%
FFCB 3,000,000.00 2,794,406.00 6/22/2028 4.470%
FFCB 1,000,000.00 917,188.00 7/13/2028 1.230%
FHLMC 1,000,000.00 914,493.00 7/27/2028 1.100%
FNMA 1,000,000.00 931,963.00 7/28/2028 1.000%
FHLB 1,000,000.00 2,989,626.00 8/4/2028 1.300%
FFCB 3,000,000.00 907,658.00 9/8/2028 4.750%
FHLMC 1,000,000.00 1,809,810.00 10/19/2028 1.000%
Government Maturities Exceeding One Year
As of November 30, 2025
City of Clovis
ATTACHMENT 3

Investment
Balance At Stated
Institution Face Value Amortized Cost Maturity Rate
LA CUSD GO Bonds 1,000,000.00 1,001,261.00 7/1/2026 1.455% Chabot Las Positas Comm Coll 3,505,000.00 3,460,081.00 8/1/2026 1.080% Chaffey Joint Union HS 1,565,000.00 1,554,641.50 8/1/2026 2.475% Huntington Beach Union HS 3,305,000.00 3,269,009.00 8/1/2026 1.208% Placentia Yorba Linda USD 1,110,000.00 1,096,876.00 8/1/2026 1.070% San Diego Comm Coll Dist 470,000.00 467,603.00 8/1/2026 2.299% San Ramon Valley CUSD 2,125,000.00 2,125,000.00 8/1/2026 1.147% Sonoma County Jr Coll Dist 2,000,000.00 1,986,403.00 8/1/2026 2.447% San Diego Pub Facilities Dist 1,625,000.00 1,603,910.00 10/15/2026 1.812% California St Univ Taxable 2021B 2,500,000.00 2,430,155.00 11/1/2026 1.142% El Dorado Irrigation Dist 1,175,000.00 1,151,575.00 3/1/2027 1.687% Rancho Santiago CC Ref 2020 335,000.00 320,738.50 3/1/2027 1.106% UC Taxable Gen Bds 2020 B 2,385,000.00 2,284,819.50 5/15/2027 1.316% El Monte HSD Taxable Ref 2021 600,000.00 574,921.00 6/1/2027 1.326% LA Dept Wtr Pwr Rev Bonds 2010C 2,000,000.00 2,043,530.00 7/1/2027 5.516% Colton CA USD Ref Bonds 2020 1,060,000.00 1,013,858.00 8/1/2027 1.603% Contra Costa Comm College Dist 880,000.00 857,131.00 8/1/2027 2.163% Corona Norco USD Ref Bond 2019 250,000.00 239,691.00 8/1/2027 2.297% Foothill De Anza CC Taxable 2021 540,000. 00 516,857.00 8/1/2027 1.473% Fremont USD Alameda County 1, 100,000.00 1,043,694.00 8/1/2027 1.113% Fremont USD Taxable Ref 2021 1,140,000.00 1,121,871.00 8/1/2027 2.000% Marin County Comm Coll 2016 335,000.00 328,667.80 8/1/2027 3.330% Mount San Antonio CC 2021 285,000.00 270,028.00 8/1/2027 1.139% Mount San Antonio Comm Coll 405,000.00 391,401.75 8/1/2027 2.329% Saddleback Valley USD 3,000,000.00 2,957,900.00 8/1/2027 2.400% San Diego CCD Taxable 2019 590,000.00 573,426.00 8/1/2027 2.407% San Ramon Valley CUSD 1,435,000.00 1,382,300.00 8/1/2027 1.440% Santa Monica Comm College Dist 1,000,000.00 993,059.00 8/1/2027 3.415% Sierra CA CCD 2021A Ref 465,000.00 441,444.50 8/1/2027 1.129% William Hart USD 2020 Ref 200,000.00 189,720.00 8/1/2027 1.174% San Jose Ca Taxable Series B 910,000.00 882,414.00 9/1/2027 2.600% Soquel Creek Wtr Ref 2020 545,000.00 514,681.50 3/1/2028 1.445% Gardena Calif Pension Obligation 1,000,000.00 946,286.00 4/1/2028 2.663% Beverly Hills Taxable Ref 2020B 635,000.00 594,548.50 6/1/2028 1.514% California Health Facs Fing Au 760,000.00 733,831.00 6/1/2028 3.378% Alameda Cnty Calif 540,000.00 528,109.00 8/1/2028 3.519% Desert CA Cmnty College 1,000,000.00 945,487.00 8/1/2028 2.023% Long Beach Calif Cmnty 730,000.00 692,046.00 8/1/2028 2.337% Redondo Beach CA Uni Bond 2018 675,000.00 618,079.00 8/1/2028 1.430% San Ramon Valley CA 1,820,000.00 1,696,803.00 8/1/2028 1.670% Santa Ana College Impt 1,500,000.00 1,384,456.00 8/1/2028 1.320% Santa Clarita Calif Cmnty 1,000,000.00 934,431.00 8/1/2028 1.563% William Hart High 1,000,000.00
930,563.00 8/1/2028 1.429%
Yosemite Calif Cmnty College 750,000.00 711,593.00 8/1/2028 2.210% University of California 1,500,000.00 1,026,606.00 5/15/2029 1.697% Los Angeles Community College Dist 1,250,000.00 1,403,415.00 8/1/2029 5.520% Riverside Community College Dist 2,000,000.00 1,834,947.00 8/1/2029 1.785% Berkeley Calif Jt Pwers 3,000,000.00 3,032,965.00 10/1/2029 4.375% Santa Clara Valley Transport 800,000.00 729,764.00 4/1/2030 1.622% University of California 3,000,000.00 2,725,948.00 5/15/2030 1.614% Marin Community College 500,000.00 452,559.00 8/1/2030 1.610% State of California 2,000,000.00 2,090,367.00 9/1/2030 4.875% State of California 3,000,000.00 3,157,907.00 9/1/2030 4.875% Imperial Irrigation District 1,100,000.00 1,116,231.00 11/1/2030 4.160% As of November 30, 2025
City of Clovis
Municipal Maturities Exceeding One Year

Investment
Balance At Stated
Institution Face Value Amortized Cost Maturity Rate
Duke Energy Carolinas LLC 2,000,000.00 1,967,956.00 11/15/2028 3.950% Toyota MTR Cr Corp 2,000,000.00 1,994,926.00 1/5/2029 4.350% Procter & Gamble Co 2,000,000.00 1,996,550.00 1/29/2029 4.650% Air Products and Chemicals 2,000,000.00 1,994,850.00 2/8/2029 4.600% Texas Instrument Inc 2,000,000.00 2,006,341.00 2/8/2029 4.600% Cummins Inc 2,000,000.00 2,021,200.00 2/20/2029 4.900%
Bristol-Myers Squibb Co 2,000,000.00 2,002,721.00 2/22/2029 4.900% Astrazeneca Finance LLC 2,000,000.00 1,987,986.00 2/26/2029 4.850% Cisco Sys Inc. 2,000,000.00 2,013,133.00 2/26/2029 4.850% Caterpillar Finl 2,000,000.00 2,013,844.00 2/27/2029 4.850% Merck Co Inc. 2,000,000.00 1,932,845.00 3/7/2029 3.400% Blackrock Fund Inc. 2,000,000.00 2,006,597.00 3/14/2029 4.700% Adobe Inc 2,000,000.00 2,007,150.00 4/4/2029 4.800%
Home Depot Inc. 2,000,000.00 1,994,591.00 4/15/2029 4.900% United Health Group 2,000,000.00 1,979,715.00 4/15/2029 4.700% Midamerican Energy Co 1,500,000.00 1,461,706.00 4/15/2029 3.650% Glaxosmithkline Capital 2,000,000.00 1,922,098.00 6/1/2029 3.375% John Deere Capital 2,000,000.00 2,009,227.00 6/11/2029 4.850% Citibank NA 2,000,000.00 2,031,674.00 8/6/2029 4.838%
Honeywell Intl Inc 2,000,000.00 2,068,550.00 9/1/2029 4.875% Unilever Capital Corp 1,500,000.00 1,382,125.00 9/6/2029 2.125% Paccar Financial Group 2,000,000.00 1,965,541.00 9/26/2029 4.000% State Street Corp 2,000,000.00 1,832,115.00 1/24/2030 2.400% Pepsico Inc 3,000,000.00 2,987,390.00 2/7/2030 4.600%
Eli Lilly & Co 3,000,000.00 3,000,000.00 2/12/2030 4.750% Target Corp 2,000,000.00 1,844,133.00 2/15/2030 2.350%
Hershey Company 2,000,000.00 2,022,407.00 2/24/2030 4.750% Johnson & Johnson 2,000,000.00 2,030,140.00 3/1/2030 4.700% President & Fellow 2,500,000.00 2,549,294.00 3/15/2030 4.887% Kimberly Clark Corp 2,500,000.00 2,390,300.00 3/26/2030 3.100% Mastercard Inc 2,000,000.00 1,915,317.00 3/26/2030 3.350% Nike Inc 2,500,000.00 2,365,664.00 3/27/2030 2.850%
Gen Dynamics Corp 2,500,000.00 2,427,607.00 4/1/2030 3.625% Costco Wholesale Corp 2,000,000.00 2,036,508.00 4/20/2030 1.600% Pfizer Investment Enterprise 2,000,000.00 2,011,531.00 5/19/2030 4.650% Dartmouth College 2,000,000.00 1,817,885.00 6/1/2030 4.273% Applied Materials Inc 2,500,000.00 2,018,007.00 6/1/2030 1.750% Trustees Princeton Univ 2,000,000.00 2,055,863.00 7/1/2030 4.647% Stanford University 2,000,000.00 2,284,645.00 8/1/2030 4.146% Automatic Data Processing 3,000,000.00 2,652,984.00 9/1/2030 1.250% City of Clovis
Corporate Maturities Exceeding One Year
As of November 30, 2025

Report to the City Council

To: City Council
From: Fire Department
Date: April 20, 2026
Staff: Chad Fitzerald, Life Safety Enforcement Manager
Subject: Fire - Approval - Award Weed and Rubbish Abatement Contract to Iron Cross Tractor Services, LLC, for discing, handwork, trash hauling, grading, tire disposal, and tree stump removal and authorize the Fire Chief to enter into the agreement.

Recommendation: Approval
Attachments:

1. 2026 Weed Abatement Contractor ATT 1 Iron Cross Bid

Recommendation:

For the City Council to authorize the Fire Chief to enter into an agreement with Iron Cross Tractor Services, LLC, for discing, handwork, trash hauling, grading, tire disposal, and tree stump removal.

Executive Summary:

The Weed and Rubbish Abatement Program is an annual program to abate fire and health hazards in the City of Clovis. The Fire Department requests bids for the required work every two years seeking qualified contracts to submit competitive bids for the abatement of nuisances per Article 102 of Chapter 27 of Title 5 of the Clovis Municipal Code. Two bids were submitted.

Background:

Pursuant to the commencement of the Weed Abatement Program for 2026, a bid announcement was placed on Planet Bids and directly mailed to previous contractors in the area who have an interest in weed abatement and debris removal work. Advertisements were placed in accordance with our purchasing policy.

Two bids were submitted and received by the closing date of March 6, 2026. The received complete bids were from:

1. Iron Cross Tractor Services, LLC

2. Elite Maintenance and Tree Service

The weed abatement bid includes multiple line items ranging from manual clearing to more intensive and recurring discing of parcels of varying sizes. As discing represents the most commonly utilized service under this contract, those line items were given primary consideration in the evaluation process.

Iron Cross Tractor Services submitted the lowest responsive and responsible bid for discing across all parcel size categories. Iron Cross proposed rates of $250 for lots under 11,000 square feet, $350 for lots under 22,000 and 44,000 square feet, $375 per acre for parcels one acre or greater, and $325 per acre for each additional acre. In comparison, Elite Landscaping proposed significantly higher rates: $480 for lots under 11,000 square feet, $750 for lots under 22,000 square feet, $1,100 for lots under 44,000 square feet, $1,105 per acre for parcels one acre or greater, and $525 per acre for each additional acre.

Based on this analysis, the bid submitted by Iron Cross Tractor Services provides the best overall value to the City and is consistent with the City’s purchasing requirements for competitive bidding and award to the lowest responsive and responsible bidder.

Fiscal Impact:

The cost of abatement plus a $300.00 administrative fee is billed directly to the property owner. If the cost is not paid to the City within the fiscal year, the cost is recovered through a lien placed upon the property through the Fresno County Recorder's Office.

Reason for Recommendation:

Based upon the bids received, it is recommended that the contract be awarded to Iron Cross Tractor Services, LLC.

Actions Following Approval:

A two-year contract will be executed by the Fire Chief with Iron Cross Tractor Services, LLC, for weed and rubbish abatement services.

Conflict of Interest:

None.

ATTACHMENT 1

Report to the City Council

To: City Council
From: General Services Department
Date: April 20, 2026
Staff: Bethany Berube, Deputy General Services Director Subject: General Services – Approval – Res. 26-___, Authorizing the Execution of the Authorized Agent and Certificates and Assurances Forms for the Low Carbon Transit Operations Program (LCTOP), Recommending that the Deputy General Services Director be Authorized to Execute All Required Documents, and Submittal of One (1) Project for Fiscal Year 2025-2026 Cycle A.

Recommendation: Approve
Attachments:

1. LCTOP FY2025-26 ATT 1 Res. 26- ____

2. LCTOP FY2025-26 ATT 2 Authorized Agent and Certifications and Assurances

Recommendation:

For the City Council to approve a resolution authorizing the execution of the Authorized Agent and Certificates and Assurances Forms for the Low Carbon Transit Operations Program (LCTOP), recommending that the Deputy General Services Director be authorized to execute all required documents, and the submittal of one (1) project for fiscal year 2025-26 Cycle A.

Executive Summary:

The City of Clovis has been eligible for annual allocations of Low Carbon Transit Operations Program (LCTOP) funds since FY 2014-2015. At least 50% of the funds must be spent in a manner that provides a direct, meaningful, and assured benefit to the designated disadvantaged communities.

According to the California Air Resources Board (CARB) CalEnviroScreen Tool 4.0, the disadvantaged areas in the City of Clovis are bordered by Clovis Avenue to the east, Gettysburg Avenue to the south, Winery Avenue to the west (south of Bullard Avenue), Villa Avenue to the west (between Herndon Avenue and Bullard Avenue), and Herndon Avenue to the north (to Fowler Avenue), and Fowler Avenue to the east (to Ashlan Avenue).

The California Department of Transportation, Caltrans, administers the LCTOP project funding and requires a City Council approved resolution (Attachment 1). The resolution authorizes the Deputy General Services Director to oversee and execute all required documentation for the LCTOP proposed project.

Due to changes in the LCTOP program associated with Senate Bill (SB) 840, there are now two FY2025-26 Allocation Request cycles: Cycle A (starts in February/March 2026 and ends April/May 2026) and Cycle B (starts July/August 2026 and ends September/October 2026). The FY2025-26 Cycle A allocation for Clovis Transit is $243,595 and will be applied to one (1) project. The Transit Accessibility Project includes the purchase and installation of wayfinding signage around the Landmark Square Transit Center/Clovis Senior Activities Center; the purchase and installation of solar lights at unsheltered bus stops; and upgrades to older bus stops to bring them into ADA compliance.

Background:

LCTOP is one of several programs under the Transit, Affordable Housing, and Sustainable Communities Program, established by the California Legislature in 2014 by SB 862. Funding for the LCTOP is appropriated from the Greenhouse Gas Reduction Fund, and the City of Clovis receives funding on a formulaic basis. This program was created to provide operating and capital assistance for transit agencies to reduce greenhouse gas emissions (GHG) and improve mobility with an emphasis on serving disadvantaged communities. At least 50% of the funds must be spent in a manner that provides direct, meaningful, and assured benefit to the designated disadvantaged areas.

In Clovis, these disadvantaged areas, as identified by the California Air Resources Board (CARB) using the CalEnviroScreen 4.0 Tool, are bordered by Clovis Avenue to the east, Gettysburg Avenue to the south, Winery Avenue to the west (south of Bullard Avenue), Villa Avenue to the west (between Herndon Avenue and Bullard Avenue), and Herndon Avenue to the north (to Fowler Avenue), and Fowler Avenue to the east (to Ashlan Avenue).

Caltrans administers the LCTOP project funding and the required reporting. Caltrans requires a City Council approved resolution designating and authorizing a City staff member to execute the Certifications and Assurances, manage all reporting requirements, and oversee the LCTOP proposed project (Attachment 2). The resolution designates the Deputy General Services Director to execute the Certificates and Assurances along with other reporting documentation.

The resolution also includes the approval of one (1) project for the FY 2025-2026 LCTOP Cycle A allocation. The projected FY 2025-2026 allocation for Cycle A is $243,595 and will be used to fund the Transit Accessibility Project. Expenditures will be subsidized with a total of $243,595 LCTOP funds. Included in the project are the purchase and installation of wayfinding signage at Landmark Square, the purchase and installation of solar lights at unsheltered bus stops, and ADA-compliance improvements to older bus stops.

Fiscal Impact:

The fiscal impact is revenue from the FY2025-2026 LCTOP Cycle A allocation in the amount of $243,595. If necessary, State Transit Assistance (STA) funds will be used to cover any costs not covered by LCTOP funds.

Reason for Recommendation:

The resolution and Certifications and Assurances documents are required by Caltrans for LCTOP funding to be awarded for a proposed project. The Transit Accessibility Project will support our newly expanded routes by making bus stops and routes easy to locate and access. These added amenities will encourage individuals to take advantage of our upgraded fixed-route transit service.

Actions Following Approval:

Staff will submit a copy of the resolution and the signed Certifications and Assurances documents to Caltrans. The Deputy General Services Director will continue to apply for the LCTOP annual funding and will complete the necessary program reporting and documentation requirements.

Conflict of Interest:

None.

Attachment 1
RESOLUTION 26-__

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CLOVIS

APPROVING AUTHORIZATION FOR THE EXECUTION OF THE AUTHORIZED AGENT

AND CERTIFICATIONS AND ASSURANCES FORMS FOR THE LOW CARBON TRANSIT OPERATIONS PROGRAM (LCTOP) FOR THE FOLLOWING PROJECT: TRANSIT ACCESSIBILITY PROJECT FOR $243,595.

WHEREAS, the City of Clovis is an eligible project sponsor and may receive state funding from the Low Carbon Transit Operations Program (LCTOP) for transit projects; and

WHEREAS, the statutes related to state-funded transit projects require a local or regional implementing agency to abide by various regulations; and

WHEREAS, Senate Bill 862 (2014) named the Department of Transportation (Department) as the administrative agency for the LCTOP; and

WHEREAS, the Department has developed guidelines for the purpose of administering and distributing LCTOP funds to eligible project sponsors (local agencies); and

WHEREAS, the City of Clovis wishes to delegate authorization to execute these documents and any amendments thereto to the Deputy General Services Director; and

WHEREAS, the City of Clovis wishes to implement the following LCTOP project listed above.

NOW, THEREFORE, BE IT RESOLVED, that the City of Clovis agrees to comply with all conditions and requirements set forth in the Certification and Assurances and the Authorized Agent documents and applicable statutes, regulations, and guidelines for all LCTOP-funded transit projects.

NOW, THEREFORE, BE IT FURTHER RESOLVED, that the City of Clovis authorizes the Deputy General Services Director to execute all required documents of the LCTOP Program and any Amendments thereto with the California Department of Transportation.

NOW, THEREFORE, BE IT FURTHER RESOLVED, that the City of Clovis hereby authorizes the submittal of the following project nomination and allocation request to the Department for LCTOP FY 25-26 Cycle A funds: Transit Accessibility Project for $243,595.

* * * * *

The foregoing resolution was introduced and adopted at a regular meeting of the City Council of the City of Clovis held on April 20, 2026, by the following vote, to wit:

AYES:

NOES:

ABSENT:

ABSTAIN:

DATED: April 20, 2026

______________________________ ______________________________ Mayor City Clerk

FY 2025-2026 LCTOP
Authorized Agent
AS THE General Services Director
(Chief Executive Officer/Director/President/Secretary)
OF THE City of Clovis
(Name of County/City/Transit Organization)
I hereby authorize the following individual(s) to execute for and on behalf of the named Regional Entity/Transit Operator, any actions necessary for the purpose of obtaining Low Carbon Transit Operations Program (LCTOP) funds provided by the California Department of Transportation, Division of Local Assistance. I understand that if there is a change in the authorized agent, the project sponsor must submit a new form. This form is required even when the authorized agent is the executive authority himself. I understand the Board must provide a resolution approving the Authorized Agent. The Board Resolution appointing the Authorized Agent is attached.

Bethany Berube, Deputy General Services Director OR
(Name and Title of Authorized Agent)
Click here to enter text. OR
(Name and Title of Authorized Agent)
Click here to enter text. OR
(Name and Title of Authorized Agent)
Click here to enter text. OR
(Name and Title of Authorized Agent)
Amy Hance General Services Director
(Print Name) (Title)
(Signature)
Approved this 26
day
of March , 2026
Attachment 2

Report to the City Council

To: City Council
From: General Services Department
Date: April 20, 2026
Staff: Bethany Berube, Deputy General Services Director Subject: General Services - Approval - Waive the City’s Usual Purchasing Requirements and Authorize the City Manager to Approve the Purchase of Six (6) FrontRunners and Two (2) Class C – Ford E450 Cutaway Buses for $1,798,087.98 Utilizing the California Association for Cooperative Transportation (CalACT) Competitive Bid Award.

Recommendation: Approve
Attachments:

1. Vehicle Purchase ATT 1 Front Runner Quote

2. Vehicle Purchase ATT 2 Ford E450 Quote

Recommendation:

For the City Council to waive the usual purchasing requirements and authorize the City Manager to approve the purchase of six (6) FrontRunners and two (2) Class C – Ford E450 Cutaway Buses for $1,798,087.98 utilizing the California Association for Coordinated Transportation (CalACT) competitive bid award.

Executive Summary:

Staff recommends the purchase of six (6) FrontRunners and two (2) Class C – Ford E450 Cutaway Buses through Davey Coach. These vehicles will be added to Clovis Transit's existing fleet for its fixed-route services. The purchase will enhance the delivery of transportation for passengers utilizing fixed-route services. The cost of the six (6) FrontRunners is $1,455,518.64, and the cost of two (2) Class C – Ford E450 is $342,569.34.

The total amount requested for approval is $1,798,087.98, which aligns with the amount approved by the Federal Transit Administration (FTA) for the expansion of the Clovis Transit fleet. Costs associated with the vehicles will be covered through a combination of FTA Sections 5307 and 5339 funds and Transportation Development Credits (TDCs). Clovis Transit’s use of the CalACT bid is within the City of Clovis Purchasing Policy, Section IV, C, 1, b, (1).

Background:

Clovis Transit will purchase additional vehicles to support our growing community, to meet the

increasing demand for fixed-route services, and to accommodate the newly implemented fixed-route redesign.

In 2010, following the end of the Caltrans purchasing cooperative, CalACT created a purchasing cooperative administered by Basin Transit Authority to assist small and medium-sized transit agencies with vehicle procurements.

The CalACT purchasing cooperative awards bid positions in accordance with the Federal Transit Administration and California Department of Transportation regulations and has been audited by both agencies with no findings. The purchasing cooperative is also compliant with Buy America requirements. The purchase of transit vehicles requires technical expertise and a broad scope of knowledge of bus manufacturing concepts. By utilizing the cooperative and most recent agreement RFP No. 20-01, Clovis Transit can purchase the vehicles our operation needs at a competitive cost for a 1.5% procurement fee.

Vehicle specifications and options were listed in the CalACT request for proposal and the vendor’s proposals. These specifications meet or exceed our transit operation’s desired vehicle design and capacity. The FrontRunner has a single-step curb height entrance to a true flat floor and is designed to hold up to fourteen (14) passengers or ten (10) passengers and two (2) mobility devices. The Class C – Ford E450 has the capacity of twenty-one (21) passengers or fifteen (15) passengers with two (2) mobility devices.

Fiscal Impact:

Federal Transit Administration (FTA) funds and Transportation Development Credits (TDCs) held in the City’s Transit fund account for the purchase of transit vehicles. Vehicle purchases were included in the 2025/2026 fiscal year budget.

Pricing for the recommended purchase is as follows:

Proposed six (6) FrontRunners including options, tax, and procurement fee: $1,455,518.64 Proposed two (2) Class C – Ford E450 including options, tax, and procurement fee: $342,569.34 Total: $1,798,087.98

Reason for Recommendation:

Two primary requirements guide the purchase of new vehicles:
• Several Clovis Transit vehicles have exceeded their useful life. The current fleet includes eight (8) vehicles with an average mileage of 377,498 miles, with the highest mileage reaching 410,816 miles. Two (2) vehicles have over 400,000 miles and six vehicles have well over 300,000 miles.
• Due to the newly implemented fixed route redesign, Clovis Transit requires additional vehicles to accommodate the expansion from two (2) routes to eight (8) routes. The expansion of routes necessitates a substantial increase in the number of transit vehicles to support service needs.

Actions Following Approval:

Following approval, transit staff will prepare a purchase order for the City Manager’s approval, and vehicles will be ordered. Vehicles are expected to be delivered within six to nine months.

Conflict of Interest:

None.

MBTA 20-01 Quotation
Contract # 20-01
Comer Hobbs
12380 Firestone Blvd
Norwalk, CA 90650
[email protected]
(424) 901-3301
Date:

End User:

Contact:

Address:

City:

State:

Zip:

Phone:

Email:

EXTENDED
QTY. PART_ID DESCRIPTION ADDITIONAL INFO. UM UNIT_PRICE PRICE 0 1 23' - 10-passenger New England Wheels FrontRunner - 23'/10+2 EA 162,883.00$ $162,883 1 Option #28 Additional Mobility Aid Position - 360, Per Position EA 1,291.00$ $1,291 1 Option #43 REI PA System, 4 Interior & 1 ADA Exterior Speaker EA 934.00$ $934 1 Option #109 Stop Request System (w/ sign) EA 2,247.00$ $2,247 1 Option #110 Hanover Front and Side Destination Signs EA 6,034.00$ $6,034 1 Option #136 Full Air Suspension Front/Rear EA 5,821.00$ $5,821 1 Option #137 Ventura Plug Door EA 8,887.00$ $8,887 1 Unpublished Option Sportworks 2-positin Bike Rack Mounted Internally EA 4,358.00$ $4,358 1 Unpublished Option Full Exterior Wrap Design TBD - 3M Vinyl EA 16,125.00$ $16,125 1 Unpublished Option IT Cabinet Mounted in Co-Pilot Seat Area EA 1,415.00$ $1,415 1 Unpublished Option Credit - Gaseous Prep Package EA (383.41)$ -$383 6 Unpublished Option Freedman Wall Seat Aisle Facing EA 1,005.00$ $6,030 Base Unit Cost $162,883.00
Published Options: 25,214.00$
Non-Published Options: 27,544.59$
Total of all Options: $52,758.59
Subtotal of Order: $215,641.59
ADA Non-Taxable: $26,879.00
CalACT Administrative Fee $3,234.62
9/8/25 Pricing
Registration/DMV $58.00
CA Tire & Battery Fee ($1.75 per tire &
$2.00 per battery) $11.00
Delivery Zone #3 $6,148.00
Sales Tax @ 8.975% $17,493.23
TOTAL: $242,586.44
QUANTITY: 6
GRAND TOTAL: $1,455,518.64
Amount Removed from the total price to calculate Sales Tax: $26,879.00 Sales Tax Subject to Change at or near Delivery
***Delivery Estimate Q3 ARO***
93612
559-324-2770
[email protected]

12.02.25 City of Clovis
Nick Chin
785 Third Street
Clovis
CA

Attachment 1

DODGE PROMASTER FRONTRUNNER 9 PASSENGERS + 3 WC
8 PASSENGERS, 3 WC (or 10+2, 12+1 or 14+0) + DRIVER
FORWARD SEATING, 6 SINGLE FLIP DOWN SEATS & FRONT RAMP
180” 272” 176” SLIDE-and-CLICK WC SECUREMENTS

CHASSIS MODEL BUS MODEL PASSENGER CAPACITYCHASSIS

WHEEL BASE OVERALL LENGTH ADDITIONAL FEATURESFLOOR LENGTH

41.00 CLEAR DOOR OPENING
175.64
272.20

96.06 OVERALL
WIDTH

34.00 89.60

INTERIOR
WIDTH

28.00 HIP TO KNEE

48.00 ADA WHEELCHAIR 30" X 48

60.00 FOR EXTENDED WHEELCAHIR

48.00 ADA WHEELCHAIR 30" X 48"

48.00 WHEELCHAIR ADA 30" X 48" MANUAL WHEELCHAIR RAMP

FREEDMAN DOUBLE
3PT SEAT 4 PLCS

GRABRAIL

FREEDMAN BANTAM SIDE
FACING FLIP SEAT 4 PLACES

GRABRAIL

CalACT
Contract # 20-01
12380 Firestone Blvd
Norwalk, CA 90650
[email protected]
(424) 901-3301
Date:

End User:

Contact:

Address:

City:

State:

Zip:

Phone:

Email:

EXTENDED
QTY. PART_ID DESCRIPTION ADDITIONAL INFO. UM UNIT_PRICE PRICE 1 1 Class C - Ford E450 - Front Lift Turtle Top Terra Transit - 14 Ambulatory + 2 W/C - Front Lift EA 113,379.00$ $113,379
4 1 Freedman Foldaway Seat (double) EA 1,317.00$ $5,268 1 2 34"-36" Freedman Flip Seat (featherweight) EA 1,143.00$ $1,143 1 12 USSC G2 E Drivers Seat (If not standard) EA 1,890.00$ $1,890 1 14 ADNIK Power Seat Base EA 616.00$ $616
1 25 Raised Flat Floor - (3 Step Entry) EA 712.00$ $712 2 31 Qstraint Deluxe (8100) credit per set of 4 EA (388.00)$ -$776 1 40 Braun NCL 1000 (1k lbs capacity lift) EA 549.00$ $549 1 42 Lift Pad Cover EA 165.00$ $165
1 48 REI PA system (4 interior, 1 exterior ADA sokr) EA 694.00$ $694 1 56 Transair TA77R90 (Super 13 90k) Roof Top System EA 8,341.00$ $8,341 1 76 Intermotive Break Out Box (Multi Access Hub) EA $0 1 77 Cruise Control Standard EA N/A
1 79 Sportworks bike rack (black 2 bike) EA 2,726.00$ $2,726 1 82 CrossOver Mirror EA 1,152.00$ $1,152
1 84 Roof Vent EA 397.00$ $397
1 91 Dialight Exterior LED **********Not Available********** EA N/A 1 95 Farebox rail/prewire EA 287.00$ $287
1 102 Rear Backup Camera and Monitor EA 583.00$ $583 1 116 Stop Request System (w/ sign) EA 1,077.00$ $1,077 1 117 Hanover Front and Side Destination Signs EA 6,807.00$ $6,807 1 Unpublished Option Exterior Paint - One Color, Roof Remains White Not Needed - Wrapping Bus EA -$ $0 1 Unpublished Option Front Monitor Mounted Behind Driver on Shield To be Purhased & Installed by Passio Technoligies after delivery EA -$ $0
1 Unpublished Option Floorplan will have 5-across Rear Row Includes Adding One Seat EA 346.00$ $346 16 Unpublished Option Freedman ABS Seat Backs All Seats Except Rear Row EA 82.00$ $1,312 1 Unpublished Option Exterior Graphics - Full Installation 3M Materials EA 5,455.00$ $5,455 Base Unit Cost $113,379.00
Ford Mobility Rebate: $1,000.00
Published Options: 31,631.00$
Non-Published Options: 7,113.00$
Total of all Options: $38,744.00
Subtotal of Order: $153,123.00
ADA Non-Taxable: $25,028.00
CalACT Administrative Fee $2,296.85
9/8/25 Pricing
Registration/DMV $58.00
CA Tire & Battery Fee ($1.75 per tire &
$2.00 per battery) $14.50
Ford Mobility Rebate: -$1,000.00
Delivery Zone #3: $4,942.00
Sales Tax @ 8.975% $11,850.32
TOTAL: $171,284.67
QUANTITY: 2
GRAND TOTAL: $342,569.34
Amount Removed from the total price to calculate Sales Tax: $25,028.00 Sales Tax Subject to Change at or near Delivery
***Delivery Estimate Q4 ARO***
93612
559-324-2770
[email protected]

12.02.25 City of Clovis
Nick Chin
785 Third Street
Clovis
CA

Attachment 2

937
8"
961
4"
8"
E
E
"THIS DRAWING

AND THE

INFORMATION

CONTAINED

THEREON ARE

THE EXCLUSIVE

PROPERTY OF

TURTLE TOP AND

SHALL NOT BE

COPIED OR

DUPLICATED IN

ANY MANNER

WITHOUT OUR

WRITTEN
CONSENT"
FILE NAME :

DNS
"To furnish the customer the best mid-sized
bus in the industry in both quality of material
and workmanship."
NOTES
OVER ALL LENGTH:

FLOOR LENGTH:

CHASSIS MAKE:TURTLE TOP BODY MODEL:

SCALE:

DATE:

DRAFTSMAN: DRAWING NUMBER:

DIMENSIONING TOLERANCE = +/- 3"
CHASSIS GVWR:

ORDER NUMBER:

REVISION:

CONTACT TURTLE TOP AT 800-269-2105 FOR

AVAILABILITY OF THIS FLOOR LAYOUT IF
DRAWING DATE HAS EXCEEDED 90 DAYS.

CHASSIS FUEL TYPE:

DRAFTSMAN NOTES:

R

U T P EL T O T

TERRA TRANSIT
3 STEP ENTRY
2 STEP ENTRY

W/ WHEEL WELLS
√
241230-A3_FD30_FLD_12 FW_4 FOLDAWAY_2 WC
AND
12/30/2024
TERRA TRANSIT FORD E450
GAS 14,500 lbs.208"
25' 8.5"
241230-A3
QUOTE
ORIG
E
SB
30"
48"
SB
30"
48"9"
27"
28"
10"
3081
2"
176"9711
16" 343
4"
208" 923
4"
0"0"
AXLE
LC
AXLE
LC
17"

WHEELCHAIR LIFT
11"
10"
E
E
363
4 30

CLEAR OPENING
121
2"
281
2"

Report to the City Council

To: City Council
From: General Services Department
Date: April 20, 2026
Staff: Amy Hance, General Services Director
Subject: General Services - Approval - Res. 26-___, Approving a Side Letter Agreement with Clovis Public Safety Employees Association (CPSEA) to Include Recruitment Bonus Pay for Lateral Public Safety Dispatchers; and Authorizing City Manager to Execute Agreement.

Recommendation: Approve
Attachments:

1. CPSEA Side Letter Agreement ATT 1 Res. 26-___

Recommendation:

For the City Council to approve a resolution approving a side letter agreement with Clovis Public Safety Employees Association (CPSEA) to include recruitment bonus pay for Lateral Public Safety Dispatchers.

Executive Summary:

The Police Department has experienced difficulty in recruiting and hiring Public Safety Dispatchers. In 2021, the Department instituted a bonus for Lateral Public Safety Dispatchers with good results. The Department is once again proposing the offer of a bonus to attract and retain lateral public safety dispatchers. The $7,500.00 bonus would be paid in three installments over a two-year period. The bonus will help ensure adequate staffing to meet the needs of the Department while supporting community safety.

Background:

Public Safety Dispatchers require a specific set of skills, temperament, and an exemplary back ground check as well as the flexibility to work varying shifts in a 24-hour, 7-days-a-week operation.

During recent recruitments, there have been a limited number of qualified or viable candidates for this essential position. In an effort to entice lateral candidates with two or more years of public safety dispatching experience, the Department is requesting approval to implement a recruitment bonus.

The recruitment bonus would be for public safety dispatchers hired between April 1, 2026, and June 30, 2028.

Provided the required hiring criteria is met, the bonus would be paid to those hired in three

installments:
• $2,000 upon hire and completion of new employee orientation. • An additional $2,500 upon successful completion of at least one year of probation. • An additional $3,000 upon successful completion of the second year of service.

A lateral public safety dispatcher would not be eligible to receive any of the above bonuses in the event the lateral public safety dispatcher leaves or is separated from employment with the City for any reason prior to reaching the required milestone.

Staff met with representatives of Clovis Public Safety Employees Association, and they concurred with the proposed bonus.

Fiscal Impact:

There is no Fiscal Impact for FY 2025-2026. Additional costs for bonus payments will be included in the Police Department budgets in FY 2026-2027 and FY 2027-2028.

Reason for Recommendation:

Qualified public safety dispatchers are essential to emergency service operations. By providing a bonus, the Clovis Police Department will attract qualified lateral candidates to fill current and future vacancies and ensure that the needs of the community safety services are met.

Actions Following Approval:

The Side Letter Agreement will be fully executed, and the bonus will be effective for Lateral Public Safety Dispatchers hired between April 1, 2026, through June 30, 2028.

Conflict of Interest:

None.

Attachment 1

RESOLUTION 26-__

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CLOVIS

APPROVING A SIDE LETTER AGREEMENT WITH

CLOVIS PUBLIC SAFETY EMPLOYEES ASSOCIATION (CPSEA)

WHEREAS, in order to best meet the needs of the community, the City of Clovis desires to attract and hire the highest qualified candidates for Public Safety Dispatcher; and

WHEREAS, lateral Public Safety Dispatchers are proven professionals and highly desired candidates; and

WHEREAS, during recent recruitments, the City of Clovis has experienced difficulty in attracting qualified Public Safety Dispatcher candidates; and

WHEREAS, to entice lateral Public Safety Dispatchers, the City of Clovis is offering a recruitment bonus for lateral Public Safety Dispatchers up to $7,500.00, paid in three installments over a two-year period; and

WHEREAS, CPSEA agrees to the bonus for Public Safety Dispatchers hired between April 1, 2026, and June 30, 2028, as noted in the Side Letter Agreement herein as Attachment A.

NOW, THEREFORE, BE IT RESOLVED, that the City of Clovis approves the Side Letter Agreement with CPSEA (Attachment A) and authorizes the City Manager to sign the agreement.

* * * * *

The foregoing resolution was introduced and adopted at a regular meeting of the City Council of the City of Clovis held on April 20, 2026, by the following vote, to wit.

AYES:

NOES:

ABSENT:

ABSTAIN:

DATED:

______________________________ ______________________________ Mayor City Clerk

ATTACHMENT A
Side Letter Agreement to the 2025-2028
Memorandum of Understanding Between the City of Clovis and the Clovis Public Safety Employees Association (CPSEA).

The City of Clovis (“City”) and the Clovis Public Safety Employees (“CPSEA”) mutually agree to this Side Letter Agreement. The terms of this Agreement are not intended to be and shall not be incorporated into the 2025-2028 Memorandum of Understanding (“MOU”) between the City and CPSEA, and the fact or contents of this Agreement may not be used as an argument by CPSEA or any of its members that any of the terms and conditions of employment of the MOU have been changed. Except as expressly provided herein, each and every term and condition of the MOU shall remain in full force and effect.

Lateral Public Safety Dispatchers

From April 1, 2026, to June 30, 2028, a lateral public safety dispatcher candidate who has a minimum of two (2) years of public safety dispatching experience in California and who is hired by the City following satisfactory completion of the standard application process and background check requirements will receive the following bonuses provided the applicable criteria are satisfied:

• $2,000.00 upon hire (date of hire must be April 1, 2026, through June 30, 2028) and completion of new employee orientation.
• An additional $2,500.00 upon successful completion of at least one year of probation.
• An additional $3,000.00 upon successful completion of second year of service.

All bonuses identified above will be payable during the regular pay period in which the bonus is earned. A lateral public safety dispatcher is not eligible to receive any of the above bonuses in the event the lateral public safety dispatcher leaves or is separated from employment with the City for any reason prior to reaching the required milestone.

For the CITY: For CPSEA:

__________________________ __________________________ Andrew Haussler, City Manager Ty Wood, CPSEA President

__________________________ __________________________ Scott G. Cross, City Attorney Shawn Knapp, CPSEA Vice President

__________________________
Briana Parra, City Clerk

Report to the City Council

To: City Council
From: General Services Department
Date: April 20, 2026
Staff: Charles Johnson, Senior Management Analyst
Subject: General Services – Approval - Claim Rejection of the General Liability Claim on behalf of Penni Richey.

Recommendation: Approve
Attachments: None

Recommendation:

Reject the General Liability Claim filed on behalf of Penni Richey.

Executive Summary:

On behalf of Penni Richey (Claimant), the City received a general liability claim on April 6, 2026, alleging the Clovis Police department mishandled a missing person report of her deceased relative, and failed to properly investigate the incident. Penni Richey claims that she sustained emotional distress along with Amanda Richey's three kids, travel expenses, and seeks probate and estate administration costs. It is recommended that the City reject the claim at this time, send notice of rejection, and refer the matter to the City’s third-party administrator for further investigation and handling.

Background:

On April 6, 2026, a general liability claim was received by the City of Clovis on behalf of Penni Richey. The claim was considered legally sufficient and timely. The claim alleges that on September 29, 2025, the Clovis Police Department responded to a missing person call and documented Amanda Richey as a "voluntary missing person" and was not considered to be at-risk. Penni Richey said several of her relatives contacted the Clovis Police Department for officers to conduct a welfare check of Amanda's last known whereabouts, and officers failed to investigate the matter. On September 29, 2025, Penni Richey said Amanda's body was located and reported deceased.

The claim further alleges the police department mishandled the missing persons' investigation, failed to follow proper department policy, and was negligent with its investigation.

The claimant seeks damages for emotional distress, loss of companionship and parental support for Amanda's three minor children, probate and estate administration costs, and cost of travel. The claim

has been filed as a “civil unlimited case”.

Fiscal Impact:

Rejection of the claim does not result in any fiscal impact.

Reason for Recommendation:

It is recommended that the claim be rejected. The City’s liability is disputed, and although the claim is legally sufficient, the amount of the alleged damages sustained by the claimant may also be disputed.

Rejecting the claim and sending a notice of rejection in accordance with the Government Claims Act will commence the time in which claimant may file a lawsuit against the City based on the claim.

Actions Following Approval:

A rejection notice letter will be sent to the claimant informing her that the claim has been rejected.

Conflict of Interest:

None.

Report to the City Council

To: City Council
From: Planning and Development Services Department
Date: April 20, 2026
Staff: Thad Avery, City Engineer
Subject: Planning and Development Services – Approval – Res. 26-___, Final Map Tract 6332, located south of Loyola Ave., between N. Locan Ave. and N. De Wolf Ave. (Granville Homes, Inc., A California Corporation).

Recommendation: Approve
Attachments:

1. TM 6332 Final Map ATT 1 Res. 26-___

2. TM 6332 Final Map ATT 2 Vicinity Map

3. TM 6332 Final Map ATT 3 Final Map Copy

Recommendation:

For the City Council to approve a Resolution, which will:

1. Accept the offer of dedication of parcels and public utility easements within Tract 6332; and

2. Authorize the recording of the final map.

Executive Summary:

The owner, Granville Homes, Inc., a California Corporation, acting as the subdivider, has submitted a final map. The improvement plans have been processed by City Staff. The improvements to be installed include curb, gutter, sidewalk, streetlights, fire hydrants, street paving, sanitary sewer, water mains, and landscaping. The subject tract is south of Loyola Ave., between N. Locan Ave. and N. De Wolf Ave. It contains approximately 13.95 acres and 51 residential units, zoned R-1-PRD.

Background:

The owner, Granville Homes, Inc., a California Corporation, acting as the subdivider, has submitted a final map that has been deemed technically correct. The subdivision agreement has been executed by the subdivider and all development fees paid or deferred in accordance with the Municipal Code.

The agreement provides for the developer to complete all the required improvements in compliance with the conditions of approval, and they are adequately secured.

Fiscal Impact:

The subdivider will be installing curb, gutter, sidewalk, fire hydrants, street paving, sanitary sewer,

water mains, and landscaping, which will be perpetually maintained by the City of Clovis. For the streetlights, the City will pay for the power and PG&E will provide the maintenance.

Reason for Recommendation:

The subdivision agreement has been executed by the subdivider and all development fees paid or deferred in accordance with the Municipal Code. The agreement provides for the developer to complete a technically correct map and improvement plans, and to complete all the required improvements in compliance with the conditions of approval. The improvements have been adequately secured.

Actions Following Approval:

The final map will be filed with the Fresno County Recorder's office for recording.

Conflict of Interest:

Mayor Pro Tem Diane Pearce owns real property within 1,000 feet of the project site.

Attachment 1

RESOLUTION 26-__

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CLOVIS APPROVING FINAL SUBDIVISION MAP FOR TRACT NO. 6332

WHEREAS, a final map has been presented to the City Council of the City of Clovis for Tract 6332, by The City of Clovis, a Municipal Corporation; and

WHEREAS, said final tract conforms to the requirements of Chapter 2, Part 2, of Division 4 of the Business and Professions Code and to local ordinances.

NOW, THEREFORE, BE IT RESOLVED, that the City of Clovis will proceed as follows:

1. The final map of Tract 6332, consisting of two (3) sheets, a copy of which is on file with the City Clerk, be and the same is hereby approved.

2. The subdivision improvement plans for said tract have been approved by City Staff.

3. The preliminary Engineer’s Cost Estimate of development cost of said tract, a copy of which is on file with the City Clerk, be and the same is hereby approved and adopted as the estimated cost of improvements for said subdivision in the sum of $2,208,000.00.

4. The offer and dedication for public use of the parcels and easements specified on said map are accepted by the City of Clovis and the City Clerk is authorized and directed to execute said subdivision map.

5. This Council finds that the proposed subdivision, together with the provisions for its design and improvement, are consistent with applicable general and specific plans of the City of Clovis.

6. Improvement Security, as provided hereunder and in said Subdivision Agreement, is fixed at one hundred percent (100%) of the remaining improvements to be constructed or the sum of $2,208,000.00 for guaranteeing specific performance of said agreement and fifty percent (50%) of the remaining improvements or the sum of $1,104,000.00 for payment of labor and materials furnished by contractors, subcontractors, labormen and materialmen in connection with the improvements required to be made or constructed by said subdivider in conformity with said subdivision map or said agreement.

7. Subdivider shall furnish a bond in the sum of $220,800.00, being the amount determined by the City Council of the City as necessary for the guarantee and warranty of the work for a period of one year following the completion and acceptance of the tract against any defective work or labor done, or defective materials furnished.

Said bond is required to be furnished prior to acceptance of the tract by the City Council.

* * * * *

The foregoing resolution was introduced and adopted at a regular meeting of the City Council of the City of Clovis held on April 20, 2026, by the following vote, to wit.

AYES:

NOES:

ABSENT:

ABSTAIN:

DATED: April 20, 2026

______________________________ ______________________________ Mayor City Clerk

Attachment 2

Attachment 3

Report to the City Council

To: City Council
From: Planning and Development Services Department
Date: April 20, 2026
Staff: Thad Avery, City Engineer
Subject: Planning and Development Services – Approval – Res. 26-___, Annexation of Proposed Tract 6332, located south of Loyola Ave., between N. Locan Ave. and N. De Wolf Ave. to the Landscape Maintenance District No. 1 of the City of Clovis. (Granville Homes, Inc., A California Corporation).

Recommendation: Approve
Attachments:

1. TM 6332 LMD Annexation ATT 1 Res. 26-___

Recommendation:

For the City Council to approve a Resolution, which will annex proposed Tract 6332, located south of Loyola Ave., between N. Locan Ave. and N. De Wolf Ave. into the Landscape Maintenance District (LMD) No. 1 of the City of Clovis.

Executive Summary:

The owner, Granville Homes, Inc., a California Corporation, acting as the subdivider, has requested to be annexed to the LMD No. 1 of the City of Clovis as set forth by the Conditions of Approval for Tentative Tract 6332.

Background:

Granville Homes, Inc., a California Corporation, the developer of Tract 6332, has executed a covenant that this development be annexed to the City of Clovis, LMD No. 1. An executed copy can be provided on request. Council formed the original District on July 15, 1985, for the purpose of funding the maintenance of landscaped areas and parks.

Under the provisions of the Landscaping and Lighting Act of 1972, and in accordance with Article XIII C and Article XIII D of Proposition 218, all the owners of the property proposed for annexation have provided a written request and consent to annexation and have executed a covenant (petition) indicating acceptance of the annual assessment.

Fiscal Impact:

Tract 6332 Year to Date
LMD Landscaping added: 1.035 acres 5.53 acres
Resource needs added: 0.1 persons 0.553 persons

The resource needs estimate is based on 1 person per 10 acres of landscaped area.

Reason for Recommendation:

The property owners for the subject tract have requested annexation into the City of Clovis LMD No.

1. Actions Following Approval:

Tract 6332 shall become a part of City of Clovis LMD No. 1 and will be assessed next year for maintenance costs.

Conflict of Interest:

Mayor Pro Tem Diane Pearce owns real property within 1,000 feet of the project site.

ATTACHMENT 1
RESOLUTION 26-__

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CLOVIS
APPROVING ANNEXATION TO LANDSCAPING MAINTENANCE DISTRICT NO. 1

OF THE CITY OF CLOVIS

WHEREAS, City of Clovis Landscape Maintenance District No. 1 ("District") was formed by Resolution No. 85-78, adopted July 15, 1985, pursuant to Part 2 of Division 15 of the Streets and Highways Code (Landscape and Lighting Act of 1972), herein the "Act"; and

WHEREAS, all of the owners of property proposed to be annexed to the District consisting of proposed Tract No. 6332, as described in Attachment A attached hereto and incorporated herein by reference, have consented to said annexation and such annexation may be ordered without notice and hearing or filing of engineer's report, or both.

NOW, THEREFORE, BE IT RESOLVED, that the City of Clovis will proceed as follows:

1. That the public interest and convenience require that certain property described in Attachment A attached hereto and by reference incorporated herein be annexed into Landscape Maintenance District No. 1 of the City of Clovis for the maintenance and servicing of landscaping facilities.

2. The City Clerk shall receive and file the maps showing the boundaries of the areas annexed as set forth in Attachment A, which boundaries shall be used for assessment proceedings until and unless a change of organization is approved pursuant to the Act.

* * * * *

The foregoing resolution was introduced and adopted at a regular meeting of the City Council of the City of Clovis held on April 20, 2026, by the following vote, to wit:

AYES:

NOES:

ABSENT:

ABSTAIN

DATED:

______________________________ ______________________________ Mayor City Clerk

ATTACHMENT A

Legal Description

REAL PROPERTY IN THE CITY OF CLOVIS, COUNTY OF FRESNO, STATE OF CALIFORNIA, DESCRIBED AS FOLLOWS:

LOTS 1 THROUGH 59, INCLUSIVE, OF TRACT NO. 6332, RECORDED IN BOOK _____ OF PLATS AT PAGES _____ THROUGH _____, FRESNO COUNTY RECORDS.

Report to the City Council

To: City Council
From: Public Utilities Department
Date: April 20, 2026
Staff: Kevin Tuttle, Assistant Public Utilities Director Subject: Consider various actions related to the Proposed New Water Rates and Fees.

a. Conduct a Proposition 218 Public Hearing and Majority Protest Proceeding on the proposed new Water Rates and Fees as outlined in the Draft Water Rate Study Report and the Public Hearing Notice mailed to all City water customers.

b. Consider approval of the proposed new Water Rates and Fees, subject to no majority protest, and adoption of the Water Rate Study Report as final.

Recommendation: Approve
Attachments:

1. Water Rates Prop 218 ATT 1 Clovis 2025 Water Rate Study Report

2. Water Rates Prop 218 ATT 2 Clovis Water Rate Notice

Recommendation:

For the City Council to conduct a Proposition 218 public hearing and a majority protest proceeding to implement new rates and charges as recommended in the Draft Water Rate Study. At the conclusion of the public hearing, direct the City Clerk to count and report the number of written protests received to determine if a majority of the affected parcels have protested the proposed Water Rates and Fees.

If no majority protest is received, staff recommends that the Council approve the proposed Water Rates and Fees as presented and approve the Draft Water Rate Study as final. Staff anticipates bringing an ordinance amendment later this year, as needed, to amend applicable provisions of the Clovis Municipal Code to implement the new Water Rates and Fees. The new Water Rates and Fees will become effective on January 1, 2027.

Executive Summary:

The City’s current water rate and fee structure was approved in April 2016, to meet revenue requirements for operating and maintaining the City’s water system as an enterprise fund and to avoid the need to use the General Fund to support the City’s water system. Since 2016, increases in operations and maintenance costs and the imposition of new regulatory requirements, which have increased the cost of operating and maintaining the water system. Additionally, the City has

experienced significant increases in costs over the past five years due to inflation and other factors related to cost increases in labor, capital, and material components for operating the water system.

The City has also determined the need to fund the replacement of certain aging infrastructure and provide redundancy for critical infrastructure to adequately maintain the water system.

The Five-Year Forecast projects a need to generate necessary revenue to maintain required working capital and to set aside funds for near-term and future capital projects necessary to keep the water system running effectively and efficiently. Additionally, recent court decisions have necessitated a review of the current water rate structure and have shown structural changes are needed for the water rates to remain compliant with current law. The City’s Water Rate Study consultant, Raftelis, evaluated the existing rate structure and worked with staff over the past year and a half to develop potential revenue scenarios that meet the City’s financial and water system needs, while also ensuring compliance with applicable legal requirements governing water rates, including Proposition 218 and related statutory provisions. Raftelis’ report (attached as Attachment 1) makes recommendations to address revenue shortfalls to sustainably maintain the Water Enterprise Fund.

Notices were mailed to the affected parcel owners and water customers during the week of March 2nd, more than 45 days prior to tonight’s Public Hearing in accordance with the requirements of California Constitution Article XIIID section 6 and Government Code section 53755.

If written protests against the proposed Water Rates and Fees are received from less than a majority of the affected parcels (one written protest per parcel, filed by an owner or tenant of the parcel, will be counted in calculating a majority protest), the City Council is authorized to approve the proposed Water Rates and Fees, which will be codified with an ordinance amendment and resolution at a future Council date in Fall 2026. If approved by the Council, the proposed Water Rates and Fees will become effective January 1, 2027.

Background:

The 2016 Water Rate Report recommended tiered water rates based on a revised cost of service analysis. This report was largely generated in light of the San Juan Capistrano court decision in 2015, which ruled the City of San Juan Capistrano failed to show the cost of providing water to high- usage customers increased proportionally with consumption. Since that time, a 2024 decision in Coziahr v. Otay Water District concluded that the Otay Water District failed to demonstrate that higher tiers incur a proportionally higher cost to provide similar service. Effectively, this decision stated that data used for tiered water rates must be based on actual data of the agency, not industry standards. Similarly, in Patz v. City of San Diego (2025), the court ruled that rates must be based on the actual cost to provide service at each tiered rate. These decisions reinforce the need to reassess and potentially remove tiered water rate structures.

Since the 2016 Water Rate Report and adjustments made to water rates in 2017, inflation has increased water system costs significantly. To ensure compliance with current law, to address projected revenue shortfalls due to additional regulatory requirements, higher costs of operating the water system, and to provide funds needed for future capital, maintenance, operations, and projects related to compliance with the Sustainable Groundwater Management Act (SGMA), staff retained the services of a consultant, Raftelis, to conduct a comprehensive water rate study to provide a review of the current Water Enterprise Fund’s financial structure.

Raftelis’s work consisted of providing a financial plan that meets the City’s revenue requirements for the water system, while also providing a cost-of-service analysis that bases the rate recommendations on the realities of current water utility needs. Staff’s core criteria for the updated

rate structure were: 1) the rates comply with current law, and 2) the rates meet the revenue requirements for the maintenance and operations of the water system.

The development of the water rate study consisted of documenting revenue requirements to: (a) meet current and projected needs for maintenance and operations, (b) establish a funding mechanism for needed capital improvement projects, and (c) maintain current levels of reserve funding. The cost of service was then developed by:

• Separating revenue needs based on supply, customer service, metering, etc. • Allocating those revenue needs to their appropriate cost basis, such as volume, bills, and equivalent meters.
• Determining a cost-per-unit of service, such as equivalent meters, number of customers, or number of bills.
• Distributing the developed cost to each customer class using the unit costs and the proportional impact of each customer class on the system.

The rates were then designed based on the cost of service and the revenue requirements. Finally, the report was prepared. The report serves as the administrative record and support document to meet the requirements of Proposition 218.

The rates shown in the report include phased increases over three consecutive years (CY), 2027– 2029, to close the financial gap identified in the report. Subsequent rate increases return to the standard 3% annual escalation. Staff believes the proposed rate structure is necessary and appropriate to meet future revenue requirements of the Water Enterprise Fund, and recommends that the Council initiate the Proposition 218 proceedings to increase water rates and fees.

The annual rate increases in the proposed rate structure shown in the report and reproduced below would begin on January 1, 2027, and continue for three consecutive calendar years as follows:

• CY2027 – 21%
• CY2028 – 21%
• CY2029 – 18% and an additional 3% on July 1, 2029

While the average increase in rates in the first year of the proposed rate structure would be about 21% across all customer classifications, the increase to each customer depends on the customer’s classification and usage under the current rate structure. Rates in the years following the initial 3- year phase-in period would be authorized to increase at an annual escalator of 3%, which has historically been the City’s practice. These increases would follow in the same manner as the Solid Waste and Sewer Enterprise accounts, where Council will evaluate staff’s recommendations during the annual budget cycle to determine if the authorized increase is required for the upcoming budget.

The authorized 3% annual increase in subsequent years is intended to limit larger future rate increases, provide for increases in maintenance and operations costs, allow for the funding of major infrastructure maintenance projects, and allow the Water Enterprise Fund to maintain adequate reserve levels to help mitigate future market and cost fluctuations.

In order to provide adequate funding for the standard operations and maintenance of the City’s water system, to ensure funding for needed repair and replacement of existing water infrastructure, and to maintain appropriate reserves, City staff are recommending the Council conduct a public hearing as required by Proposition 218 and, following the closing of the public hearing, conduct a majority protest proceeding. If there is no majority protest, City staff recommends the Council consider

adoption of the Water Rate Study as final. Staff intend to codify the water rates and fees in a resolution that they will bring to the Council at a future Council session in the fall of 2026. If subsequently adopted by the Council, the rates and fees will become effective beginning January 1, 2027.

Provided that the number of valid written protests received by the close of the public hearing does not exceed 50% of the total number of parcels affected by the proposed Water Rates and Fees, Council may approve the proposed increased Water Rates and Fees. The City Clerk will count the number of written protests and verify their validity at the close of the public hearing. Protests may be submitted by either the owner or a tenant of a parcel; however, only one written protest per parcel will be counted.

Proposition 218 Procedures
Per the requirements of Proposition 218, the City is required to provide a 45-day notice and hold a public hearing where a majority protest proceeding is conducted. Staff has prepared and sent public notices to all property owners of parcels receiving service and paying current water fees. The notices included the legally required information about the public hearing time and place, the amount of the proposed fees, the basis of the proposed fees, and the reasons for the proposed increases.

All protests to the rate increases must be in writing, identify the property affected, be signed by the property owner or tenant, and be clear that they are protesting the increases. Protests must be received by the City prior to the closing of the public hearing. Protests will be accepted from either the tenant or property owner, but only one protest per property will be counted. E-mails will not be accepted as there is no legal method for signing. The protests will be confidential until tabulated and may be withdrawn by the signatory of the protest prior to the close of the hearing. The City Clerk will tabulate the number of protests and verify their validity. If protests are received from more than half of the total number of affected parcels, the rates cannot be approved.

Proposed Rate Structure
The proposed water rates are included in Table 2 and Table 3 on the following pages. The proposed rate structure includes the a three-year phase-in of consecutive rate increases, as well as subsequent 3% annual increases in following years. The proposed rate structure in the report also includes drought rate surcharges, which allow the City to maintain adequate cash flow during times of reduced water use in a State-mandated drought reduction period.

The proposed rate structure includes other miscellaneous costs and fees that are charged through the Water Enterprise Fund, including the following:

• Private Fireline Costs. For private firelines, the American Water Works Association manual recommends firelines be billed according to the service line connection, and staff believes this approach for rate setting is appropriate.
• Construction Water Costs. Construction water costs were previously billed based on the unmetered Tarpey Village water use rate. This previous billing was based on a 1-inch meter and 63,000 gallons of usage. As all customers are now metered, a new cost was derived for construction water and is billed as a 1-inch water service at 60,000 gallons of usage per bill. • Hydrant Meters. Hydrant meters are billed on a monthly basis and based on a 2-inch water service.

Volumetric rates are the same as commercial and landscape customers. • Recycled Water Rates. Recycled water rates were also updated as part of the report, including the pressurized and non-pressurized systems.

Fiscal Impact:

The proposed rate structure is designed to address the costs of operations, maintenance, projects related to compliance with applicable legal and regulatory requirements including SGMA, to provide a fiscally responsible financial plan for funding necessary improvements to aging infrastructure, and to provide for adequate reserves. The proposed rate structure allows for continued operational cost coverage, addresses debt service coverage requirements, provides for the funding of necessary capital improvements, and maintains necessary operational reserves for future uncertainties. The proposed rate increase also provides adequate debt service coverage for future bonding requirements, should the issuance of additional bonds become necessary in the future.

The proposed rate structure also includes similar provisions to 2016 that allow for continued 3% increases anticipated to start in Fiscal Year 29/30 after a three-year phase-in period of the new rates.

These incremental increases help alleviate the need for periodic large rate increases in the future.

Under normal circumstances, these modest increases allow revenues to keep up with the increase in standard energy and material costs, like chemicals, fuel, vehicles, and personnel costs. Ideally, the smaller increases help reduce the need for larger increases over time. This strategy has been adopted previously by Council for both the Water and Sewer Enterprise Funds.

Finally, the chart below shows a bill comparison example to other local water agencies, comparing an average current water bill for a single-family home to the future water bill for the same service after the proposed first year (21%) initial rate increase. Note that these bill estimates were generated for comparison purposes and are based on the best publicly available information. The City of Clovis is likely to be in the lower half of the identified local water agencies, even after the proposed increase.

Reason for Recommendation:

The City is required to comply with State law regarding implementation of water rates and fees, and the City must simultaneously ensure the adequacy of the Water Enterprise Fund. Accordingly, a thorough Water Rate Study analysis was completed by Raftelis. The proposed rate structure meets all legal requirements and addresses the financial needs of the Water Enterprise Fund. Although the rate structure in study proposes a three-year phase-in period of increasing rates, the City of Clovis’ water rates will remain very competitive with other local water agencies.

Actions Following Approval:

Staff anticipates bringing a proposed ordinance amendment and resolution to Council in Fall 2026 to fully implement the new water rates and fees. The new rates will become effective on January 1, 2027.

Conflict of Interest:

None.

CITY OF CLOVIS
Water Rate Study
FINAL DRAFT REPORT / JANUARY 13, 2026
ATTACHMENT 1

January 2026

Mr. Kevin Tuttle
Supervising Civil Engineer
City of Clovis – Public Utilities Department
155 N. Sunnyside Avenue
Clovis, CA 93611

Subject: Water Cost of Service and Rate Study Report

Dear Mr. Tuttle,

Raftelis is pleased to provide this Water Cost of Service and Rate Study Report to the City of Clovis. This report presents the analyses, rationales, and methodologies utilized in the study to determine cost of service-based water rates that meet the requirements of California Constitution Article XIII D, Section 6 (commonly referred to as Proposition 218).

The study's major objectives included:
» Develop a five-year financial plan to ensure financial sufficiency, meet operating costs, fund the long -term capital improvement plan, satisfy debt service coverage requirements, and maintain target reserves. » Complete a cost-of-service analysis to ensure rates are proportionate to the costs of serving each customer class.
» Review the City’s existing water rate structure and recommend changes as necessary to ensure that proposed rates achieve financial sufficiency.
» Develop a five-year schedule of water rates that are fair, equitable, and compliant with Proposition 218 requirements.

It has been a pleasure working with you, and we thank you and other City staff for the support provided to Raftelis during this study.

Sincerely,

Todd Cristiano
Project Manager

CITY OF CLOVIS

Table of Contents
EXECUTIVE SUMMARY...................................................................................................................................... 1 Introduction ...................................................................................................................................................... 1 Study Findings and Conclusions ..................................................................................................................... 1 Financial Plan......................................................................................................................................................................... 1 Cost of Service ....................................................................................................................................................................... 1 Rate Design ........................................................................................................................................................................... 1 Customer Bill Impacts ............................................................................................................................................................ 1 INTRODUCTION .................................................................................................................................................. 1 Report Organization ........................................................................................................................................ 1 Legal Requirements ........................................................................................................................................ 2 Rate-Setting Methodology ............................................................................................................................... 3 Reliance on City Provided Data ...................................................................................................................... 3 FINANCIAL PLAN ............................................................................................................................................... 5 Introduction ...................................................................................................................................................... 5 Financial Plan .................................................................................................................................................. 5 Capital Fund Cash Flow ......................................................................................................................................................... 5 Operating Fund Cash Flow .................................................................................................................................................... 7 Reserve Funds ..................................................................................................................................................................... 10 COST OF SERVICE ANALYSIS ....................................................................................................................... 11 Introduction .................................................................................................................................................... 11 Cost of Service Process ................................................................................................................................ 11 FY27 Revenue at Current Rates ................................................................................................................... 11 Test Year Revenue Requirement .................................................................................................................. 12 Revenue Requirement Allocation .................................................................................................................. 12 Functional Cost Components ............................................................................................................................................... 12 Allocation Factors ................................................................................................................................................................. 14 Allocation of Functionalized Costs ....................................................................................................................................... 15 Allocated Revenue Requirement Adjustments ..................................................................................................................... 17 Unit Cost of Service ............................................................................................................................................................. 19 Distribution of Costs to Customer Classes ........................................................................................................................... 19 Comparison of Cost of Service to Revenue at Existing Rates ............................................................................................. 20 RATE DESIGN ................................................................................................................................................... 21 Introduction .................................................................................................................................................... 21 Existing Rates ................................................................................................................................................ 21 Proposed Rates ............................................................................................................................................. 21 Development of Fixed Charges ..................................................................................................................... 22 Development of Volume Rates ...................................................................................................................... 22 Proposed Five-Year Rate Schedule .............................................................................................................. 23 Customer Bill Impacts .................................................................................................................................... 25 Drought Rate Volumetric Surcharges ........................................................................................................... 26

CITY OF CLOVIS

List of Tables
Table 1: Proposed Water Rate Adjustments ................................................................................................................ 1 Table 2: Comparison of Existing and Proposed Service Charges ................................................................................ 2 Table 3: Comparison of Existing and Proposed Volume Rates .................................................................................... 3 Table 4: FY25 through FY31 Capital Improvements by Category ................................................................................ 6 Table 5: Capital Fund Cash Flow ................................................................................................................................. 7 Table 6: Operating Fund Cash Flow ............................................................................................................................. 9 Table 7: Reserve Fund Inflows and Outflows ............................................................................................................. 10 Table 8: FY27 Revenue at Existing Rates .................................................................................................................. 11 Table 9: Test Year Revenue Requirement ................................................................................................................. 12 Table 10: Test Year O&M Functional Allocation ......................................................................................................... 13 Table 11: Test Year Capital Cost Functional Allocation ............................................................................................. 14 Table 12: Development of System Demand Factors .................................................................................................. 15 Table 13: Summary of Allocated Net O&M Expense to Cost Components ................................................................ 17 Table 14: Allocation of Capital Costs to Cost Components ........................................................................................ 17 Table 15: Allocated Revenue Requirement Adjustments ........................................................................................... 18 Table 16: Summarized Units of Service ..................................................................................................................... 19 Table 17: Unit Cost of Service .................................................................................................................................... 19 Table 18: Distribution of Costs to Customer Classes Summary ................................................................................. 19 Table 19: Comparison of Cost of Service to Revenue at Existing Rates ................................................................... 20 Table 20: Development of Fixed Charges .................................................................................................................. 22 Table 21: Service Charge Calculation by Meter Size ................................................................................................. 22 Table 22: Development of Volume Rates ................................................................................................................... 22 Table 23: Comparison of Existing and Proposed Service Charges ............................................................................ 24 Table 24: Comparison of Existing and Proposed Volume Rates ................................................................................ 25 Table 25: Consumption Assumptions Utilized in Drought Response Charge Analysis .............................................. 26 Table 26: Drought Response Surcharges by Conservation Goal and Fiscal Year .................................................... 26

List of Figures
Figure 1: Single Family Residential Monthly Bill Impacts ............................................................................................. 1 Figure 2: Single Family Residential Monthly Bill Impacts ........................................................................................... 25

WATER RATE STUDY 1

Executive Summary

INTRODUCTION
The City of Clovis (City) retained Raftelis to conduct a comprehensive financial planning, cost of service, and rate design study for its water utility. The City’s overall objectives for this study included:

» Develop a multi-year financial plan for FY 2026 through FY 2031 (study period), for the City’s water enterprise and capital funds to ensure that revenues from rates, fees, and charges are sufficient to cover annual operating expenses, the capital improvement program net of bond and loan proceeds and meet the City’s reserve and debt service coverage requirements.
» Complete a comprehensive cost of service analysis to determine the cost to provide service to each customer class.
» Review and update the water rate structure to meet this City’s objectives and comply with Proposition 218, AB 755, and SB 1157.

STUDY FINDINGS AND CONCLUSIONS
Financial Plan
Projected water sales revenues at existing rates will be inadequate to meet the water utility’s revenue requirements throughout the Study Period. Table 1 shows the recommended rate revenue adjustments necessary to meet the forecasted revenue requirements. These adjustments are required to pay for future water utility operating expenses, fund the capital improvement program, provide adequate reserves, and satisfy debt service coverage requirements throughout the Study Period.

Table 1: Proposed Water Rate Adjustments

Cost of Service
Raftelis completed a comprehensive cost of service analysis to determine the cost to provide service to customer classes. The cost-of-service analysis is a multi-step process which considers the volume of water by class, class peak rates of demand, number of customers, and other relevant factors. The underlying principle in cost allocation is to convert the test year revenue requirement into costs that best reflect the costs associated with customer water demands placed on the system. Those costs are proportionally allocated to customer classes based on the costs of delivering water service to each class of customers. Customer service characteristics that contribute to costs include average day, peak day and peak hour demands, the number of accounts, and the number of equivalent meters.

Line
No. Description Existing FY27 FY28 FY29 FY30 FY31
Current Proposed Proposed Proposed Proposed Proposed
1 Months Increase is Effective in First Year January 1, 2027 January 1, 2028 January 1, 2029 July 1, 2029 July 1, 2030 2 Annualized Percentage Increase 0.0% 21.0% 21.0% 18.0% 3.0% 3.0% 3 Cumulative Increase 0.0% 21.0% 46.4% 72.8% 77.9% 83.3%

WATER RATE STUDY 1

Rate Design
The primary objective of the utility cost of service analysis and rate design is to develop rates and charges that will meet, as nearly as practical, the cost of providing service for each customer class while not exceeding the proportional costs of delivering service to each parcel. A rate structure for each individual customer would place a financial and administrative burden on the utility’s resources. Instead, grouping customers into classes based on the costs to deliver water service to each class is a more manageable and practical method. The existing rate study consists of a bimonthly service charge which varies by class and by meter size.

Existing Rates
The residential class includes single family, multifamily, and mobile home customers. It also includes customers served outside the City limits in Tarpey Village. Tarpey Village consists of three residential customer classes; metered residential, non-metered residential, and non-metered large lot residential. Metered residential customers are assessed a per-dwelling unit service charge that does not vary by meter size and a tiered volume charge based on use. Tarpey Village non-residential large lot rate customers are assessed a service charge based on square footage. Tarpey Village non-metered customers are charged a fixed service charge. All Tarpey non-metered residential and non-metered large lot customers will have transitioned to metered service by the time of the FY27 rate implementation.

The commercial class includes commercial and industrial customers who are assessed a service charge based on meter size and a tiered volume charge based on use. Recycled water customers are assessed a service charge by meter size and a volume charge based on pressurized or non-pressurized use. Private firelines are assessed a service charge that does not vary by line size. Construction water accounts are temporary, unmetered customers that use water service for homes under construction. Construction water is assessed a service charge equal to the Tarpey un- metered service charge. Hydrant meter rates are assessed a service charge plus a volume rate for all usage.

Proposed Rates
The customer classes for the proposed rates have been reclassified to apply to three classes: potable retail users, recycled water users, and private fire capacity users. Service charges apply to each class based on meter size or fireline size, as applicable. To ensure that all customers are assessed a proportionate share of costs to provide service, volume rates now apply uniformly to each type of water use: potable, recycled, pressurized, and recycled non-pressurized.

The potable retail class combines the existing residential, commercial, and landscape customers into one class that is assessed a service charge that varies by meter size and a uniform volume rate.

The recycled water class is assessed a service charge that varies by meter size and a volume rate based on whether the use is pressurized or non-pressurized. The private fire capacity class is assessed a stand-by charge that varies by fireline size. Raftelis proposes that proposed construction water charges for FY27 through FY31 be based on the 1” meter service charge plus 60,000 gallons of water use at the proposed volume rates. Hydrant meter rates will increase at the same percentage as the annual financial plan increases.

Table 2 on the following page compares the existing and proposed cost of service rates for the study period.

WATER RATE STUDY 2

Table 2: Comparison of Existing and Proposed Service Charges

Existing Proposed
Description FY26 FY27 FY28 FY29 FY30 FY31
BIMONTHLY SERVICE CHARGE, $ PER BILL
Residential
Single Family [1] $27.71
Multifamily [1] 27.71
Mobile Home [1] 27.71
Tarpey Metered Residential [1,2] 27.71
Tarpey - Non-Metered Res Large Lot [1,2] 6.67
Tarpey - Non-Metered [1,2] 139.05
Residential [3], Commercial, and Landscape (Retail Potable Water Users) Meter Size
Inches
5/8 $22.30 $33.46 $40.49 $47.78 $49.21 $50.69
3/4 22.30 33.46 40.49 47.78 49.21 50.69
1 22.30 33.46 40.49 47.78 49.21 50.69
1 1/2 29.66 55.36 66.99 79.05 81.42 83.86
2 40.97 81.64 98.78 116.56 120.06 123.66
3 81.13 151.72 183.58 216.62 223.12 229.81
4 204.08 230.57 278.99 329.21 339.09 349.26
6 814.05 449.58 543.99 641.91 661.17 681.01
8 1,443.03 800.00 968.00 1,142.24 1,176.51 1,211.81
10 2,260.71 1,062.81 1,286.00 1,517.48 1,563.00 1,609.89 Recycled
Meter Size
inches
5/8 $22.30 $25.87 $31.30 $36.93 $38.04 $39.18
3/4 22.30 25.87 31.30 36.93 38.04 39.18
1 22.30 25.87 31.30 36.93 38.04 39.18
1 1/2 29.66 40.18 48.62 57.37 59.09 60.86
2 40.97 57.35 69.39 81.88 84.34 86.87
3 81.13 103.14 124.80 147.26 151.68 156.23
4 204.08 154.66 187.14 220.83 227.45 234.27
6 814.05 297.76 360.29 425.14 437.89 451.03
8 1,443.03 526.71 637.32 752.04 774.60 797.84
10 2,260.71 698.43 845.10 997.22 1,027.14 1,057.95
Private Fireline
Line Size
inches
4 and less $204.08 $20.15 $24.38 $28.77 $29.63 $30.52
6 204.08 36.52 44.18 52.13 53.69 55.30
8 204.08 64.74 78.34 92.44 95.21 98.07
10 204.08 107.20 129.72 153.07 157.66 162.39
12 204.08 166.05 200.92 237.09 244.20 251.53
Construction Water $139.05 $154.66 $186.89 $220.58 $227.41 $234.29 Hydrant Meter Water, $ per bill per month $40.57 $40.82 $49.39 $58.28 $60.03 $61.83 [1] The proposed service charge by meter size applies to all customer classes.

Under existing rate structure, residential customers were charged a fixed, per dwelling charge. [2] Tarpey are billed the same as inside City residential. [3] Service charge applies to all Residential classes in FY27. [4] Current construction water charges are based on Tarpey Non-Metered charges.

Proposed construction water charges are based on the 1" meter charge plus 60,000 of water usage at the proposed volume rates for each year.

Note [1]
Note [1]
Note [1]
Note [1,2]
Note [1,2]
Note [1,2]

WATER RATE STUDY 3

Table 3 compares the existing and proposed volumetric rates for the study period.

Table 3: Comparison of Existing and Proposed Volume Rates

Existing Proposed
Description FY26 FY27 FY28 FY29 FY30 FY31
VOLUME RATES, $ PER 1,000 GALLONS
Resdential - Single Family, Multifamily, Mobile Home [1] Tier 1: (0 - 23,000 gal) $1.13 $2.02 $2.44 $2.88 $2.97 $3.06 Tier 2: (23,000 - 40,000 gal) 1.88 2.02 2.44 2.88 2.97 3.06 Tier 3: (Over 40,000 gal) 2.33 2.02 2.44 2.88 2.97 3.06 Commercial and Landscape
Tier 1: (0 - 23,000 gal) $1.13 $2.02 $2.44 $2.88 $2.97 $3.06 Tier 2: (Over 23,000 gal) 1.53 2.02 2.44 2.88 2.97 3.06 Recycled
Pressurized $0.71 $0.87 $1.05 $1.24 $1.28 $1.32
Non-Pressurized 0.076 0.072 0.090 0.110 0.110 0.110
Hydrant Meter Water $ per 1,000 gallons [2] Note [2] $2.02 $2.44 $2.88 $2.97 $3.06 [1] Tarpey are billed the same as inside City residential [2] Existing hydrant meter volume rate based on Commercial and Landscape volume rates.

WATER RATE STUDY 1

Customer Bill Impacts
Figure 1 shows a comparison of a typical monthly bill for a residential customer with a 1 -inch meter under the existing and proposed rate structures for various use levels over a two-month period: low (8 kgal), average (24 kgal), and high usages (32 kgal). Raftelis and City staff chose a 1” meter size as this is the minimum required size for new residential development and is the most common meter size for City customers. For each category of usage t he column on the left indicates the bill under the existing rate structure. The column on the right indicates the bill under the proposed rate structure given identical usage. The total bill shown for each level of consumption has been stated on a monthly basis.

Figure 1: Single Family Residential Monthly Bill Impacts

WATER RATE STUDY 1

Introduction

The City of Clovis provides water service to approximately 40,600 potable and non -potable customers. Potable customers include single family residential customers, multifamily residential customers, mobile home customers, and commercial and industrial customers. Recycled water customers are served by the pressurized system or through unpressurized gravity flows. The City’s water system consists of wells, a surface water treatment plant (WTP), storage tanks and an integrated distribution system network. The WTP has a capacity of 22.5 million gallons per day (mgd), the water system’s 37 wells have a combined total capacity of 31,740 gallons per minute (gpm). The water system has three storage tanks, and three booster pump stations. The distribution system contains 585 miles of mains. The City’s recycled water system currently has 42 miles of distribution mains serving 133 connections at 69 sites. This overview is based on data provided by the City.

REPORT ORGANIZATION
This report contains the following sections:

» Executive Summary. Summarizes the study results for the water financial plan, cost of service analysis and rate design.
» Introduction. Provides an overview and purpose of the study as well as key components of the study process.
» Financial Plan. Details the development of the financial plan, discussion of operating expenses, capital expenditures, debt service, reserve requirements, debt service coverage, and additional bond test requirements.
» Cost of Service Analysis. Details the process for functionalizing, allocating, and distributing the revenue requirement to customer classes.
» Rate Design. Details the process for recovering the revenue requirement between the monthly fixed service charge and the volume rates for each customer class.

The City’s financial operations are reported on a fiscal year basis. The fiscal years are the twelve-month periods ending June 30 of each year. In this report the fiscal years are shown as FYXX.

WATER RATE STUDY 2

LEGAL REQUIREMENTS
California Constitution - Article XIII D, Section 6 (Proposition 218) Proposition 218, reflected in the California Constitution as Article XIII D, was enacted in 1996 to ensure that rates and fees are reasonable and proportional to the cost of providing service. The principal requirements, as they relate to public water service, are as follows:

1. The revenues derived from a property-related charge (such as water rates) shall not exceed the costs required to provide the property-related service.

2. Revenues derived by the charge shall not be used for any purpose other than that for which the charge was imposed.

3. The amount of the charge imposed upon any parcel shall not exceed the proportional cost of service attributable to the parcel.

4. No charge may be imposed for a service unless that service is actually used or immediately available to the owner of the property.

5. No fee or charge may be imposed for general government services.

6. A written notice of the proposed charge shall be mailed to the owner of record of each parcel at least 45 days prior to the public hearing, at which the agency shall consider all written protests against the charge.

7. If written protests against the proposed fee or charge are presented by a majority of owners of the affected parcels, the agency shall not impose the proposed fee or charge.

As stated in the American Water Works Association's (AWWA) Principles of Water Rates, Fees, and Charges: Manual of Water Supply Practices - M1 Seventh Edition (Manual M1), "water rates and charges should be recovered from classes of customers in proportion to the cost of serving those customers .” Raftelis follows industry-standard rate-setting methodologies set forth by the AWWA Manual M1 to ensure this s tudy meets Proposition 218 requirements and establishes rates that do not exceed the proportionate cost of providing water services on a parcel basis.

To preclude costly legal challenges, the state legislature has enacted legislation that can be included with the Proposition 218 Notices that provide a limited time to challenge rates.

1. Limitation to Rate Challenges - Pursuant to California Government Cost Section 53759, there is a 120-day statute of limitations for judicially challenging rates from the date the legislative body adopts the resolution approving rates.

2. Exhaustion of Administrative Remedies - Pursuant to California Government Code Sections 53759.1 and 53759.2, if the local agency meets the all of the requirements specified in section 53759.1 a person or entity will be prohibited from bringing a judicial action or proceeding alleging that the proposed rates do not comply with Proposition 218 unless that person or entity has submitted a written objection to the proposed rates in response to the Proposition 218 Notice. This is known as an Exhaustion of Administrative Remedies requirement and is separate from the Proposition 218 majority Protest process.

California Constitution Article X, Section 2
California Constitution Article X, Section 2 mandates that water resources be put to beneficial use and that the waste or unreasonable use of water be prevented through conservation. Section 106 of the Water Code declares that the highest priority use of water is for domestic purposes, with irrigation secondary. Thus, the management of water resources is part of the property-related service provided by public water suppliers to ensure the resource is available over time.

WATER RATE STUDY 3

RATE-SETTING METHODOLOGY
This study was conducted using industry-standard principles outlined by the AWWA Manual. The process and approach Raftelis utilized in the study to determine water rates is informed by the City’s policy objectives, the current water system and rates, and the legal requirements in California that include Proposition 218. The resulting financial plan, cost of service analysis, and rate design process followed five key steps, outlined below, to determine the proposed rate struture that fulfills the City’s objectives, meets industry standards, and compl ies with all relevant regulations.

1. Financial Plan: The first study step was to develop a multi-year financial plan that projects the City’s water related revenues, expenses, capital project financing, annual debt service, and reserve funding. The financial plan was used to determine the revenue adjustment, the difference between the revenues generated by the exisiting rate structure and the revenue requirement (as described below).

2. Revenue Requirement: After completing the financial plan, the revenue requirement was determined for the test year, also known as the rate -setting year. The test year used for this study is FY 202 7. The revenue requirement is the amount needed to sufficiently fund the City’s water related operating costs, annual debt service (including coverage requirements), capital expenditures, and reserve funding as projected based on the annual budget estimates.

3. Cost of Service Analysis: The revenue requirement is distributed to customer classes commensurate with their use of and burden on the water system and the proportional costs of providing service to each customer class. A cost-of-service analysis involves the following steps:
» Functionalize costs – the different components of the revenue requirement are categorized into functions such as supply, customer service, etc.
» Allocate to cost causation components – the functionalized costs are allocated to cost causation components such as volume, bills, equivalent meters, etc. » Develop unit costs – unit costs for each cost causation component are determined using units of service, such as total use, equivalent meters, number of customers, etc., for each component. » Distribute cost components – the cost components are allocated to each customer class using the unit costs in proportion to their demand and burden on the system.

4. Rate Design: After allocating the revenue requirement to each customer class, the project team designs and calculates rates. This process also includes a rate impact analysis and sample customer bill impacts.

5. Administrative Record (Report) Preparation and Rate Adoption: The administrative record is developed in conjunction with the rate adoption process. This rate study report serves as the administrative record for this study. The administrative record documents the study results and presents the methodologies, rationale, justifications, and calculations used to determine the proposed rates. A thorough and methodological administrative record serves two important functions: maintaining defensibility in a string ent legal environment and communicating the rationale for revenue adjustments and proposed rates to customers and key stakeholders.

RELIANCE ON CITY PROVIDED DATA
During this project, the City (and/or its representatives) provided Raftelis with a variety of technical information, including cost and revenue data. Raftelis reviewed the data provided for reasonableness but did not independently assess or test for the accuracy of such data – historic or projected. Raftelis has relied on this data in the formulation

WATER RATE STUDY 4

of our findings and subsequent recommendations, as well as in the preparation of this report. Raftelis also relied on cost allocation data provided by the City needed to complete the cost-of-service analysis.

There are often differences between actual and projected data. Some of the assumptions used for projections in this report will not be realized, and unanticipated events and circumstances may occur. Therefore, there are likely to be differences between the data or results projected in this report and actual results achieved, and those differences may be material. As a result, Raftelis takes no responsibility for the accuracy of data or projections provided by or prepared on behalf of the City, nor do we have any responsibility for updating this report for events occurring after the date of this report.

In conducting the cost-of-service analysis, Raftelis reviewed the books, records, agreements, capital improvement programs, customer sales, and financial projections for the City's water system. The documents, information and data were provided to the consultant by the City. Raftelis also conferred with City staff, including finance, planning, and engineering staff. Per capita demands from customers are projected to decrease in alignment with “Making Conservation a California Way of Life Regulations” being implemented over the course of the study period.

In the study, Raftelis made rate calculations using the best estimates of the City's expected costs, planned capital improvements, and future customer demands. Making such calculations in advance is normal for public water providers because providers need to recover revenue matched to public budgets adopted in advance of their fiscal periods. For this reason, and others, achieving mathematical exactitude in rate calculations is impossible. Instead, there are methods and techniques available to water providers that yield reasonable proportionality between the costs incurred to provide water service and the demand for that service.

WATER RATE STUDY 5

Financial Plan

INTRODUCTION
The City’s water utility is a self-supporting enterprise fund. The City has one combined fund which includes four subfunds.
» Capital cash flow. Tracks financial activities associated with non-growth capital funding and spending. The primary sources of revenue are transfers from the operating fund. The primary uses of funds are capital repair and replacement projects (CIP), and payments on existing and proposed debt service. » Operating cash flow. Tracks financial activities associated with operating and maintaining the water utility on a daily basis. Primary sources of funds are rate revenue, other non-rate revenue, and transfers from the general fund. Uses of funds consist of operations and maintenance expenses (O&M), transfers to the capital fund, and transfers to reserve funds
» Development impact fee fund. Tracks financial activities associated with funding growth-related projects.

Primary sources are development impact fees and revenue bonds. Primary uses include growth-related capital projects and debt service associated with those projects. » Reserve funds. This fund tracks activities associated with funding various operating and capital programs.

Reserves have been set aside for the water treatment plant membrane replacement, maintaining a drought contingency, funding for future SGMA projects, and funding for TCP treatment. These reserves are funded primarily through operating revenues, including rate revenue.

This report focuses on the capital and operating funds because these financial activities are associated with the revenue requirements used in the cost-of-service analysis. The operating fund does account for the reserve fund requirements through transfers out to that fund. These transfers are captured as part of the revenue requirement.

Detailed O&M, CIP, and cash flow tables are included in Appendix A.

FINANCIAL PLAN

Capital Fund Cash Flow

Beginning Balance
The FY25 beginning balance is assumed to be $7.1 million.

Sources of Funds
Sources of funds consist primarily of transfers from the operating fund. Transfers are projected to increase from approximately $3.8 million in FY27 to $12.7 million in FY31 to fund capital repair and replacement projects.

There are no bond or loan issues proposed during the study period.

Uses of Funds
The City has several capital improvement projects anticipated over the study period. Major projects include main replacement, water treatment plant upgrades, storage improvements and other miscellaneous projects. Table 4 shows the total capital improvements by category with and without inflation. Columns in Table 4 shows the capital improvement project costs with and without an annual inflation allowance of 4.0%.

WATER RATE STUDY 6

Table 4: FY25 through FY31 Capital Improvements by Category

Capital Reserves
Capital reserves are an industry best practices considering the significant level of capital infrastructure required to collect, treat, and deliver water to customers. Capital reserves are established to provide a utility with sufficient funds to meet unanticipated capital needs, such as an infrastructure failure or unexpected repair and replacement project costs. Capital reserve targets can be defined in several ways given that capital expenditures generally fluctuate more than operating costs on a year-to-year basis. Utilities tend to choose targets they find reasonably easy to administer, and that differ depending on where the utilities are in their infrastructure lifecycle. For example, one utility may not have experienced major growth for years and has largely depreciated its assets, another may have more recently constructed facilities, and another utility may be rapidly growing and has just built a new treatment plant.

A common capital reserve target is one year of depreciation expense. Based on the projected depreciation expense, the target capital reserve increases from approximately $3.5 million in FY25 to $4.5 million in FY31. Table 5 summarizes the capital fund cash flow required to meet the target capital reserve.

Line Millions ($)
No. Description Exc. Inflation Inc. Inflation
1 Mains $1.32 $1.50
2 WTP 17.09 20.50
3 Storage 4.13 4.71
4 Misc 8.22 9.91
5 Well 2.60 3.01
6 Pump 0.00 0.00
7 Recharge Basin 1.13 1.17
8 Total $34.48 $40.81
FY25 - FY31

WATER RATE STUDY 7

Table 5: Capital Fund Cash Flow

Operating Fund Cash Flow
Beginning Balance
The projected FY25 beginning fund balance is assumed to be $22.7 million.

Revenues
Operating revenue is derived from water rates, investment income, transfers in, and other non-rate revenues.

Water sales revenue under current rates is based on the projected number of water accounts and water usage amounts for each customer class. Revenue under existing rates is projected to range from $21.5 million in FY25 to $23.6 million in FY31 based on projected annual customer growth of approximately 2.0%. Other sources of non- operating revenues include a periodic annual $700,000 transfer from the general fund for repayment of an interfund loan that will continue annually through the entire study period. Transfers in from the drought contingency reserve fund are scheduled in FY25 through FY27 which total $2.6 million. Investment income is projected to average approximately $732,000 annually. Investment income projections are based on the average fund balance of the operating fund and the various reserve funds.

Revenue Requirements
Revenue requirements include operation and maintenance expense (O&M), transfers to the capital fund, debt transfers to the development impact fee fund, transfers to reserve funds, funding the operating reserve and meeting debt service coverage requirements.

O&M consists of personnel, professional and contractual services, repairs and maintenance, materials and supplies.

O&M is projected to increase from $26.6 million in FY25 to $31.3 million in FY31. Transfers to the capital fund are projected to occur annually starting in FY27 to provide funding for projects such as the Surface Water Treatment Plant upgrades. Transfers to the development impact fee fund are projected to occur annually during the study period until FY28 when the revenue refunding bonds mature. The revenue refunding bond debt service is projected to be paid 25% from the operating fund and 75% from the developer impact fee fund. These debt service payments made from the operating fund are projected to average $730,000 annually until maturity.

Line Fiscal Period Ending June 30
No. Description FY25 FY26 FY27 FY28 FY29 FY30 FY31
$ $ $ $ $ $ $
Sources of Funds
1 Transfer From Operating Fund - - 3,834,334 2,469,746 8,161,797 10,626,694 12,740,489 2 Revenue Bond Proceeds (Non-Growth) - - - - - - - 3 State Loans (Non-Growth) - - - - - - - 4 Investment Income 134,979 103,152 38,694 52,874 - - - 5 Total Sources 134,979 103,152 3,873,028 2,522,619 8,161,797 10,626,694 12,740,489 Uses of Funds
6 Capital Projects (Non-Growth) 756,000 2,696,720 3,955,411 2,372,619 8,001,797 10,456,694 12,570,489 7 Transfer To Operating Fund - - - - - - - 8 Total Uses 756,000 2,696,720 3,955,411 2,372,619 8,001,797 10,456,694 12,570,489 9 Annual Surplus (Deficiency) (621,021) (2,593,568) (82,383) 150,000 160,000 170,000 170,000 10 Beginning Balance 7,126,972 6,505,951 3,912,383 3,830,000 3,980,000 4,140,000 4,310,000 11 Ending Balance 6,505,951 3,912,383 3,830,000 3,980,000 4,140,000 4,310,000 4,480,000 12 Target Reserve (Annual Depreciation) 3,536,323 3,680,000 3,830,000 3,980,000 4,140,000 4,310,000 4,480,000 13 Unrestricted Capital Reserves 2,969,629 232,383 - - - - -

WATER RATE STUDY 8

Operating Reserve
A minimum operating reserve equal to 90 days of operating expenses is recommended, which is typical in the industry and for a utility of this size.

Debt Service Coverage
The City has one outstanding issue of water revenue bonds, the 2023 Water Revenue Refunding Bonds, which were issued to refund the City’s 2013 water revenue bonds. The City funds 25% of the debt service payments on the refunding bonds from rate and other operating revenues and the remaining 75% from development impact fees.

Bond covenants require a minimum debt service coverage of 1.25x refunding bond debt service. The refunding bonds mature in FY28. Debt service coverage is projected to be adequate through the study period.

Indicated Water Sales Revenue Adjustments
Water rate revenue must be sufficient to meet revenue requirements, maintain adequate reserves, and comply with bond covenants. To achieve these goals, an annual adjustment of 21% is required to meet the FY27 revenue requirements, followed by an annual increase of 21% for the FY28 revenue requirements and 18% for the FY29 revenue requirements. Equal annual adjustments of 3% are projected to be required to meet the FY30 and FY31 revenue requirements. Table 6 summarizes the operating fund cash flow.

WATER RATE STUDY 9

Table 6: Operating Fund Cash Flow

Line Fiscal Period Ending June 30
No. Description FY25 FY26 FY27 FY28 FY29 FY30 FY31
$ $ $ $ $ $ $
Sources of Funds 0.21% 1.87% 1.88% 1.88%
1 Revenue from Existing Water Service Rates 21,491,253 21,536,600 21,940,138 22,351,660 22,771,327 23,200,392 23,637,962 2 Additional Water Sales Revenue Required - - 2,303,714 7,533,627 13,568,728 18,083,943 19,686,904 3 Total Water Service Rate Revenue 21,491,253 21,536,600 24,243,852 29,885,287 36,340,054 41,284,335 43,324,866 4 Miscellaneous Revenue 1,547,204 1,554,844 1,562,637 1,570,586 1,578,693 1,586,963 1,595,398 5 Debt Proceeds (Transfers In) 770,000 770,000 770,000 770,000 770,000 770,000 770,000 6 Reserve Transfers In (Mem Replace, Drought, SGMA) 500,000 1,000,000 400,000 - - - 536,038 7 Interest Income 866,994 803,066 701,472 636,991 640,954 685,520 750,366 8 Total Sources 25,175,452 25,664,511 27,677,962 32,862,864 39,329,701 44,326,819 46,976,668 Uses of Funds
9 Operation and Maintenance Expense 26,603,928 27,665,934 29,137,928 29,685,545 30,750,785 29,660,598 31,255,080 Transfers to Reserves
10 Transfer to Membrane Replacement 100,000 100,000 100,000 200,000 200,000 250,000 250,000 11 Transfer to Drought Contingency - - - - - - - 12 Transfer to SGMA - 500,000 500,000 - - 500,000 500,000 13 Transfer to TCP Treatment 620,000 620,000 620,000 620,000 620,000 620,000 620,000 Transfers to Subfunds
14 Transfer to Capital Fund - - 3,834,334 2,469,746 8,161,797 10,626,694 12,740,489 15 Transfer to DIF Subfund 25% of Total Debt Service 732,125 730,750 732,938 728,438 - - - 16 Total Uses of Funds 28,056,053 29,616,684 34,925,200 33,703,728 39,732,582 41,657,292 45,365,569 17 Annual Surplus (Deficiency) (2,880,601) (3,952,173) (7,247,238) (840,863) (402,881) 2,669,527 1,611,099 18 Beginning Balance 22,730,000 19,849,399 15,897,226 8,649,988 7,809,124 7,406,243 10,075,770 19 Ending Balance 19,849,399 15,897,226 8,649,988 7,809,124 7,406,243 10,075,770 11,686,870 Target Reserves
20 Target Operating Reserves (90 Days O&M) 6,650,000 6,920,000 7,280,000 7,420,000 7,690,000 7,420,000 7,810,000 21 Unrestricted Operating Reserves 13,199,399 8,977,226 1,369,988 389,124 (283,757) 2,655,770 3,876,870 22 Annual Water Service Revenue Increase 0.0% 0.0% 21.0% 21.0% 18.0% 3.0% 3.0% 23 Debt Service Coverage 3.22 2.96 3.39 5.25 N/A N/A N/A 24 Cumulative Revenue Increase 0.0% 0.0% 21.0% 46.4% 72.8% 77.9% 83.3%

WATER RATE STUDY 10

Reserve Funds
The City maintains reserve funds for a variety of projects including regular replacement of its Surface Water Treatment Plant (SWTP) membranes; funding for the Sustainable Groundwater Management Act (SGMA), drought contingency fund for periods of reduced revenue due to drought conditions, and additional infrastructure to meet additional water quality standards associated with treating Per- and Polyfluoroalkyl Substances (PFAS) and 1,2,3 Trichloropropane (TCP). Table 7 shows the projected inflows and outflows needed to maintain the reserve funds.

Table 7: Reserve Fund Inflows and Outflows

Line Estimated Budget
No. Description FY25 FY26 FY27 FY28 FY29 FY30 FY31
$ $ $ $ $ $ $
Membrane Replacement
1 Transfer From Operating Fund (In) 100,000 100,000 100,000 200,000 200,000 250,000 250,000 2 Transfer to Operating Fund (Out) Membrane Repl - 0 400,000 - - - 536,038 3 Annual Surplus (Deficiency) 100,000 100,000 (300,000) 200,000 200,000 250,000 (286,038) 4 Beginning Balance 1,180,000 1,280,000 1,380,000 1,080,000 1,280,000 1,480,000 1,730,000 5 Ending Balance 1,280,000 1,380,000 1,080,000 1,280,000 1,480,000 1,730,000 1,443,962 Drought Contingency
6 Transfer From Operating Fund - - - - - - - 7 Transfer to Operating Fund (Out) 500,000 1,000,000 - 8 Annual Surplus (Deficiency) (500,000) (1,000,000) - - - - - 9 Beginning Balance 7,500,000 7,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 10 Ending Balance 7,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 SGMA
11 Transfer From Operating Fund - 500,000 500,000 - - 500,000 500,000 12 Transfer to Operating Fund (Out) - - - - - - - 13 Annual Surplus (Deficiency) - 500,000 500,000 - - 500,000 500,000 14 Beginning Balance 5,000,000 5,000,000 5,500,000 6,000,000 6,000,000 6,000,000 6,500,000 15 Ending Balance 5,000,000 5,500,000 6,000,000 6,000,000 6,000,000 6,500,000 7,000,000 TCP Treatment
16 Transfer From Operating Fund 620,000 620,000 620,000 620,000 620,000 620,000 620,000 17 Transfer to Operating Fund (Out) - - - - - - - 18 Annual Surplus (Deficiency) 620,000 620,000 620,000 620,000 620,000 620,000 620,000 19 Beginning Balance 8,270,000 8,890,000 9,510,000 10,130,000 10,750,000 11,370,000 11,990,000 20 Ending Balance 8,890,000 9,510,000 10,130,000 10,750,000 11,370,000 11,990,000 12,610,000 21 Total Reserve Balance 22,170,000 22,390,000 23,210,000 24,030,000 24,850,000 26,220,000 27,053,962 Projected (Fiscal Year Ending June 30)

WATER RATE STUDY 11

Cost of Service Analysis

INTRODUCTION
Equitable water rates fairly recover the costs required to provide service to each respective customer class.

Determination of cost of service requires accounting for the volume of water used by the class, class peak rates of demand, the number of customers within the class, and other relevant factors.

The cost-of-service analysis is conducted for a test year which is considered representative of the period in which resultant rates are expected to be in effect. The year 2027 was selected as the test year for this study.

COST OF SERVICE PROCESS
The cost-of-service process assigns costs based on each customer class’s proportionate share of water demands and number of customers. The cost-of-service analysis consists of the following nine steps:

1. Determine the test year rate revenue at existing rates

2. Determine the test year revenue requirement

3. Functionalize the revenue requirement

4. Allocate functionalized costs to cost components

5. Determine the total system units of service

6. Determine the unit costs of service

7. Determine customer class units of service

8. Distribute costs to customer classes

9. Design rates to recover class cost-of-service and the total revenue requirement

FY27 REVENUE AT CURRENT RATES
Raftelis developed FY27 rate revenue projections at existing rates using detailed billing records provided by the City based on the current number of customers by meter size and class, projected use per account and growth in the number of accounts by class. The FY27 revenue projected to be generated by the existing rates is shown in Table 8.

This projection of revenue generated by the existing rates serves as the basis for determining the FY27 revenue requirement. Projections are also used in the units of service analysis.

Table 8: FY27 Revenue at Existing Rates

Line
No. Customer Class Bills Volume Revenue
1,000 gal
1 Retail 276,873 7,897,634 20,974,374
2 Recycled Water-Pressurized 2,052 235,739 346,430
3 Recycled Water-Non-Pressurized 12 16,286 28,106
4 Private Fire Protection 4,252 - 591,228 5 Total 283,189 8,149,659 $21,940,138

WATER RATE STUDY 12

TEST YEAR REVENUE REQUIREMENT
Table 9 shows the components of the revenue requirement for 2027. As shown in the table below, the revenue requirement is the sum of operating and maintenance expense, debt service, capital R&R projects, DIF debt service transfers and transfers to reserves (Lines 1 through 6). Adjustments to the revenue requirement are made to account for miscellaneous revenues, interfund debt repayment, reserve transfers, interest income, and operating reserve increases (Lines 7 through 12). The individual revenue requirements for Operating and Capital, respectively, are shown on Line 13. The total net revenue requirement is shown on Line 14.

Table 9: Test Year Revenue Requirement

REVENUE REQUIREMENT ALLOCATION
The underlying principle in cost allocation is to convert the test year revenue requirement into costs that best reflect the cost associated with customer water demands placed on the system. Those costs are proportionally allocated to customer classes based on their respective customer class units of service to determine class cost of service.

Customer class units of service include average day, peak day, and peak hour demands, the number of equivalent meters, and the number of bills.

Functional Cost Components
Water systems are comprised of several facilities (unit processes or functions) that are designed and operated to collect, treat, and distribute water to customers. The separation of costs into functional components provides a means for distributing costs to customer classes based on their respective proportional costs to service.

O&M Functional Costs
The City’s O&M revenue requirement can be functionalized into cost categories based on the line-item descriptions in the budget. O&M functional cost categories include expenses for day-to-day operations and management during Line
No. Description
Operating
Expense
Capital
Expense Total
$ $ $
Revenue Requirements
1 Operating & Maintenance Expense $29,137,928 $29,137,928 2 Debt Service - -
3 Capital R&R Projects 3,834,334 3,834,334
4 DIF Debt Service Transfer 732,938 732,938 5 Transfer to Reserves 1,220,000 1,220,000
6 Total Revenue Requirements $29,137,928 $5,787,272 $34,925,200 Revenue Requirement Adjustments
7 Miscellaneous Revenue (1,562,637) (1,562,637) 8 Interfund Debt Repayment (770,000) (770,000) 9 Reserve Transfers In (400,000) (400,000)
10 Interest Income (585,235) (116,237) (701,472) 11 Operating Reserve Increase (Decrease) (4,124,358) (819,165) ($4,943,524) 12 Total Adjustments ($6,272,230) ($2,105,403) ($8,377,633) 13 Subtotal $22,865,697 $3,681,869 $26,547,567
14 Net Revenue Requirement $26,547,567

WATER RATE STUDY 13

the applicable year. Table 10 shows the FY27 O&M revenue requirement allocated to functional categories. The allocation of O&M to functional cost categories is based on an evaluation of each O&M line item assigned to a functional category most aligned with that expense. Raftelis provided guidance on this approach but ultimately relied on the City’s expertise in assigning the O&M costs to the functional cost categories. Table 10 summarizes the functional O&M costs for the FY27 test year.

Table 10: Test Year O&M Functional Allocation

Capital Functional Costs
Table 11 shows the FY27 capital cost revenue requirements allocated to the functional cost categories based on the proportionate value of assets. The value of water system assets provides a reasonable basis for allocating the expenses in the capital cost categories to the cost components. Annual capital improvement program costs vary significantly from year to year as well as project types which may cause fluctuation in future cost of service analysis. Allocating the test year capital costs on a project-by-project basis alone may result in a distribution of cost allocations that can fluctuate significantly from year to year. Therefore, Raftelis allocated the capital cost categories based on the value of existing assets, plus project additions from the City’s capital improvement program.

Line FY27 Test Year
No. Description Total
Operation and Maintenance Expense
1 Wells/WTP/Purchased Water 11,665,665
2 Pumping 3,392,204
3 Treated Storage 377,170
4 Trans/Dist 3,635,536
5 Hydrants/Fire Protection 403,144
6 Meters &Services 5,215,017
7 Customer Billing 4,170,898
8 All Other/Infrastructure 0
9 All Other/General 0
10 Recycled Water Pressurized 260,524
11 Recycled Water Non-Pressurized 17,770
12 Total O&M Expense $29,137,928

WATER RATE STUDY 14

Table 11: Test Year Capital Cost Functional Allocation

Allocation Factors
Water systems are designed and operated to meet the average and peak demands of their customers. Therefore, data on annual consumption and peak demand contributions are needed to allocate costs equitably among customer classes. Since customers do not exert their maximum demand for water at the same time, water facilities are designed to meet the coincidental demands on the system. Using system peak demands to average demand ratios provides a means for distributing costs equitably to customer classes.

For every facility on the system, there is an underlying average demand, or uniform rate of usage, exerted coincidentally by customers for which the average day cost component applies. Certain facilities are operated and designed to meet the demand above the average day demand or maximum day extra-capacity demand. Costs associated with those facilities are allocated to both the average day and maximum day cost components.

Similarly, other facilities are designed to meet demands in excess of maximum day requirements or maximum hour extra-capacity. Costs associated with these facilities are allocated to the average day, maximum day, and maximum hour cost components.

The ratio of maximum day and average day demand is used to allocate costs between average day and maximum day cost components. A maximum day to average day ratio of 1.7 is used based on the City most recent Water Master Plan (WMP). This indicates approximately 58.8% of the capacity of facilities designed and operated for maximum day demand is needed for average day demands use. Accordingly, the remaining 41.2% is for maximum day extra-capacity requirements.

A ratio of maximum hour to average day water use of 3.0 was used based on the City’s WMP ratio of maximum hour demand to maximum day demand of 1.30. This ratio indicates approximately 33.3% of the capacity of facilities designed and operated for maximum hour demand is needed for average day demands, approximately

23.3% is required to meet maximum day extra-capacity demand, and the remaining approximately 43.3% is for maximum hour extra-capacity demand. These ratios are used to allocate the line item functionalized costs to cost components. Other cost allocations are based on the allocation of all other categories. Table 12 shows the development of the percent allocation of system maximum day demands and maximum hour demands.

Line RCNLD Test Year
No. Description Assets [1] Capital
1 Land $3,236,338 $40,009
2 Source of Supply 15,100,155 186,675
3 Pumping Station 2,129,204 26,322
4 Wells / Treatment 201,367,903 2,489,402
5 Treated Storage 66,298,972 819,618
6 Transmission Reserve 9,203,145 113,773
7 Capacity Reserve 13,021 161
8 Customer Billing 0 0
9 Meters and Services 477,858 5,908
10 Total $297,826,597 $3,681,869
[1] RCNLD: Replacement cost new less accumulated depreciation

WATER RATE STUDY 15

Table 12: Development of System Demand Factors

Other revenue requirements can be directly assigned to specific cost components. Billing and administrative costs such as meter reading are allocated directly to the billing cost component. Indirect expenditures not specifically assigned are allocated in proportion to all other operations and maintenance cost components.

Allocation of Functionalized Costs
Once costs have been separated by function, they can be further allocated to cost components using the demand factors identified above. Allocating costs to cost components provides a means of assigning functionalized costs based on the design and functional parameters that facility serves in the system. Functionalized costs are grouped under two categories: volume and customer. Volume cost components include average day demand, peak rates of demand. Customer costs include meters and services, billing, reserve capacity, and public fire capacity costs. This allocation approach is referred to as the base-extra capacity method of allocating costs. This is the most common method to allocating revenue requirements in the cost-of-service process. Below is a definition of the customer service characteristics.

Volume Cost Components
Water utility costs are allocated to customer classes based on their demand patterns, which dictate the necessary system infrastructure and operations. This methodology categorizes costs into three components:

• Average Day: Covers costs for average daily water usage and the system's fundamental size required to meet it.
• Maximum (max) day extra capacity: Accounts for costs to meet daily demands in excess of average day demands.
• Maximum (max) hour extra capacity: Covers costs for the highest, short-term hourly peak demands placed on the system.

These max day and max hour components are calculated using system-wide demand factors to allocate costs incurred for supporting peak demands. These terms refer to the system's design and operational capacity needed for different demand levels, not specific usage times. The significant incremental costs of building and operating facilities to handle above-average demands are assigned to the max day and max hour components. This ensures customers who place higher demands on the system contribute proportionally to the cost of the expanded infrastructure needed to serve them.

Line
No. Description System Demands Factor Allocation
mgd
Max Day Extra Capacity
1 Average Day 17.9 1.00 58.8%
2 Max Day Extra Capacity 15.1 0.70 41.2%
3 Max Day 33.0 1.70 100.0%
Max Hour Extra Capacity
4 Average Day 17.9 1.00 33.3%
5 Max Day Extra Capacity 15.1 0.70 23.3%
6 Max Hour Extra Capacity 20.7 1.30 43.3%
7 Max Hour 53.7 3.00 100.0%

WATER RATE STUDY 16

Functional O&M costs are generally allocated to the cost components that best reflect the design or functional parameter associated with that facility’s expense. For example, water supply costs are allocated to the base or average day costs as source of supply facilities are designed to meet average day demands. Pump stations are designed to meet maximum day demands. These costs are allocated to the average day and maximum day cost components. Similarly, wells and treatment, and transmission mains are designed to meet maximum day demand.

Treated storage and distribution main facilities are designed to meet maximum hour demands. These costs are allocated to the average day, maximum day, and maximum hour cost components. Meter repair is associated with repair and replacement of customer meters. These costs are allocated directly to the meters and services cost component.

Water system assets provide a reasonable basis for allocating annual capital costs. The wells, treatment, pumping, and transmission facilities are designed to meet the peak demands on the system. These costs are allocated to the average day and maximum day cost component. Treated storage and distribution mains are designed to meet maximum hour demands. These costs are allocated to the average day, maximum day, and maximum hour demands. Other costs not specifically allocated are allocated in proportion to all other assets.

Customer Cost Components
Customer costs are those costs directly related with serving customers irrespective of any water use. Customer costs include the following categories:

• Meters and Services. Costs associated with reading meters, servicing meters, and field service calls to customers. Meter and services costs increase by meter size based on the assumption that as meter sizes increase, the more capacity must be available for the customer at any point in time. • Billing Costs. Costs associated with billing customers. This includes billing representatives, IT costs, and some general administrative costs related to billing services. • Reserve Capacity. This represents the portion of customer stand-by capacity costs. • Public Fire Capacity. This recovers the costs of providing public fire water capacity to all customers connected to the system. These costs include the capacity requirement to meet the specific fire flow design requirements of the system and the cost of maintaining fire hydrants.

Table 13 summarizes the allocated revenue requirement for operation and maintenance expenses reflecting the allocation of functionalized cost analysis discussed above. The allocated operation and maintenance revenue requirement can then be distributed to customer classes based on their proportionate share of total customer service characteristics. Additional details on the allocation of revenue to the cost causation components is found in the Appendix.

WATER RATE STUDY 17

Table 13: Summary of Allocated Net O&M Expense to Cost Components

Table 14 summarizes the allocated capital revenue requirement to cost components. The allocated capital cost revenue requirement can then be distributed to customer classes based on their proportionate share of total customer service characteristics. Additional details on the allocation of revenue to the cost causation components is found in the Appendix.

Table 14: Allocation of Capital Costs to Cost Components

Allocated Revenue Requirement Adjustments
With assistance from City staff, Raftelis adjusted the allocated revenue requirement to recover a portion of the maximum hour extra capacity costs in the customer reserve capacity cost component. To avoid recovering a portion of public fire capacity costs in the reserve capacity component, the public fire capacity maximum hour extra capacity costs and hydrant-related costs are combined and shown as a separate line item. These combined costs are recovered in the customer cost component. Table 15, column b shows the reallocation of public fire capacity. Column c shows the net revenue requirement to be used in the reserve capacity reallocation, column d shows the reallocation of maximum hour extra capacity costs to the reserve capacity customer cost component.

Column e shows the net adjusted revenue requirement.

Allocated
Line Allocated Non-Rate Net Allocated
No. Description O&M Revenue O&M
1 Average Day $10,257,164 ($2,207,957) $8,049,207
2 Max Day Extra Capacity 7,180,015 (1,545,570) 5,634,445 3 Max Hour Extra Capacity 1,633,395 (351,605) 1,281,791 4 Meters and Services 5,215,017 (1,122,585) 4,092,433
5 Billing 4,170,898 (897,827) 3,273,070
6 Capacity Reserve 0 0 0
7 Fire Protection 403,144 (86,781) 316,364
8 Recycled Water-Pressurized 260,524 (56,080) 204,443
9 Recycled Water-Non-Pressurized 17,770 (3,825) 13,945
10 Total Allocated O&M Expense $29,137,928 ($6,272,230) $22,865,697 Line Allocated
No. Description Capital
1 Average Day $2,046,708
2 Max Day Extra Capacity 1,274,016
3 Max Hour Extra Capacity 355,238
4 Meters and Services 5,908
5 Billing 0
6 Capacity Reserve 0
7 Fire Protection 0
8 Recycled Water-Pressurized 0
9 Recycled Water-Non-Pressurized 0
10 Total Allocated Capital Costs $3,681,869

WATER RATE STUDY 18

Table 15: Allocated Revenue Requirement Adjustments

Customer Class Units of Service
The units of service form the basis for allocating costs to different customer classes. Each customer class has distinct water usage patterns and demand characteristics. Since cost-of-service is based on proportionality, service characteristics of each class are analyzed to proportionally distribute the allocated system costs according to their respective demand profiles. The units of service for this cost-of-service study are divided into the following classes:

• Retail Customers: This category includes all current potable water customers including single-family residential, multi-family residential, mobile homes, commercial, and landscape customers. • Recycled Water Customers: This category consists of customers receiving recycled water, served by either a pressurized system or a gravity-fed system.
• Public Fire Capacity: This category includes costs associated with providing system-wide fire service.

These costs are redistributed to the retail and recycled customer classes, as they directly benefit from the service.
• Private Fire Capacity: This category covers commercial customers who have a separate fire line for fire sprinklers.

Since the retail class combines the water demands of all potable water customers, only one set of demand factors is needed to represent the overall usage characteristics of the class. Recycled water customers are served by the wastewater system, so their peak demands do not affect the peak demands on the potable water system. Public and private fire capacity are considered "standby costs," meaning the costs allocated to these classes represent the capacity required to serve them. Table 16 shows the summarized units of service by customer class.

(a) (b) (c) (d) (e)
Public/Private Adj. Allocated
Line Allocated Fire Protection Net Capacity Revenue
No. Description Capital Reallocation Reallocation Reallocation Requirement 1 Average Day $10,095,915 $0 $10,095,915 $0 $10,095,915 2 Max Day Extra Capacity 6,908,461 (221,113) 6,687,348 (1,337,470) 5,349,878 3 Max Hour Extra Capacity 1,637,028 (62,294) 1,574,734 (1,055,072) 519,662 4 Meters and Services 4,098,340 0 4,098,340 0 4,098,340 5 Billing 3,273,070 0 3,273,070 0 3,273,070
6 Capacity Reserve 0 0 0 2,392,542 2,392,542
7 Fire Protection 316,364 (316,364) 0 0 0
8 Recycled Water-Pressurized 204,443 0 204,443 0 204,443 9 Recycled Water-Non-Pressurized 13,945 0 13,945 0 13,945 10 Public Fire Protection 0 563,239 563,239 0 563,239
11 Private Fire Protection 0 36,532 36,532 0 36,532
12 Total Allocated Capital Costs $26,547,567 $0 $26,547,567 $0 $26,547,567

WATER RATE STUDY 19

Table 16: Summarized Units of Service

Unit Cost of Service
The unit cost of service is the quotient of the allocated revenue requirement by cost component divided by the units of service for each.

Table 17 shows the calculation of the unit cost of service.

Table 17: Unit Cost of Service

Distribution of Costs to Customer Classes
Table 18 shows the distributed cost-of-service to customer classes. The customer class units of service in Table 16 are multiplied by the unit cost of service in Table17 to determine the customer class cost of service.

Table 18: Distribution of Costs to Customer Classes Summary

Line Extra Capacity Equivalent Meters
No. Customer Class Average Day Max Day Max Hour Bills Capacity Hydrants Recycled Water gpd gpd gpd Eq. 1" Meter gpd
1 Retail Customers 21,637 19,598 51,131 276,873 315,175 - - 2 Recycled Water-Pressurized - - - 2,052 10,008 - 646 3 Recycled Water-Non-Pressurized - - - 12 576 - 527 4 Public Fire Protection - 569 1,708 - - 5,129 - 5 Private Fire Protection - 79 315 4,252 - - - (a) (b) (c) (d) (e) (f) (g) (h) (i)=(g)/(h)
Allocated
Line Revenue Recycled Water Fire Protection Units of Unit Cost No. Description Requirement Retail Pressurized Non-Pressurized Public Private Service Units of Service 1 Average Day $10,095,915 7,897,634 - - - - 7,897,634 1,000 gal $1.28 2 Max Day Extra Capacity 5,349,878 19,598 - - - - 19,598 gpd $272.98 3 Max Hour Extra Capacity 519,662 51,131 - - - - 51,131 gpd $10.16 4 Meters and Services 4,098,340 315,175 10,008 576 - - 325,759 Eq Billed Meters [1] $12.58 5 Billing 3,273,070 276,873 2,052 12 - 4,252 283,189 Total Bills [1] $11.56 6 Capacity Reserve 2,392,542 315,175 - - - - 315,175 Eq. Billed Meter [2] $7.59 7 Recycled Water-Pressurized 204,443 - 235,739 - - - 235,739 1,000 gal $0.87 8 Recycled Water-Non-Pressurized 13,945 - - 192,497 - - 192,497 1,000 gal $0.07 9 Public Fire Protection 563,239 - - - 5,129 - 5,129 Hydrants $109.81 10 Private Fire Protection 36,532 - - - - 4,252 4,252 4" Eq. Fireline Bills $8.59 11 Total Revenue Requirement $26,547,567
[1] Includes retail and recycled water customers
[2] Includes retail customers only. The water system is not impacted by Recycled water customer demands Line Recycled Water Fire Protection
No. Description Retail Pressurized Non-Pressurized Public Private Total 1 Average Day $10,095,915 $0 $0 $0 $0 $10,095,915
2 Max Day Extra Capacity 5,349,878 0 0 0 0 $5,349,878
3 Max Hour Extra Capacity 519,662 0 0 0 0 $519,662
4 Meters and Services 3,965,184 125,910 7,247 0 0 $4,098,340 5 Billing 3,200,072 23,717 139 0 49,143 $3,273,070
6 Capacity Reserve 2,392,542 0 0 0 0 $2,392,542
7 Recycled Water-Pressurized 0 0 0 0 0 $0
8 Recycled Water-Non-Pressurized 0 204,443 0 0 0 $204,443 9 Public Fire Protection 0 0 13,945 0 0 $13,945
10 Private Fire Protection 0 0 0 563,239 36,532 $599,771 11 Total $25,523,253 $354,070 $21,330 $563,239 $85,675 $26,547,567

WATER RATE STUDY 20

Comparison of Cost of Service to Revenue at Existing Rates Table 19 compares the calculated cost of service to revenue at existing rates.

Table 19: Comparison of Cost of Service to Revenue at Existing Rates

(a) (b) (c) (d) (e) (f) (g) (h)
FY27 Revenue Public Fire Reallocation
Line Cost of Public Fire Adjusted at Current Equivalent No. Customer Class Service Adjustment [1] COS Rates Change $ Change - % Meter % of Total 1 Residential $20,523,805 $463,658 $20,987,463 17,323,932 $3,663,530 21.1% 268,165 82.32% 2 Commercial/Industrial 2,443,077 46,175 2,489,253 1,751,545 737,707 42.1% 26,706 8.20% 3 Recycled Water - Pressurized 354,070 17,304 371,374 374,536 (3,162) -0.8% 10,008 3.07% 4 Recycled Water - Non-Pressurized 21,330 996 22,326 0 22,326 N/A 576 0.18% 5 Landscape 1,793,551 19,887 1,813,438 1,307,757 505,681 38.7% 11,502 3.53% 6 Tarpey 762,819 15,219 778,038 591,139 186,899 31.6% 8,802 2.70% 7 Public Fire Protection 563,239 (563,239) 0 0 0 N/A - 0.00% 8 Private Fire Protection 85,675 85,675 591,228 (505,552) -85.51% - 0.00% 9 Total $26,547,567 $0 $26,547,567 $21,940,138 $4,607,429 21.0% 325,759 100.0% 21,940,138
[1] Allocated based on the proportion of equivalent meters by class to total equivalent meters in Column h

WATER RATE STUDY 21

Rate Design

INTRODUCTION
Customer class rate structures serve as the method to recover the cost to provide service for each customer classification. The City’s existing and proposed rate structures include a service charge and a volume rate. The proposed rate structure was designed based on the cost-of-service analysis such that each customer class is paying their proportionate share of costs required to serve them.

EXISTING RATES
The residential class includes single family, multifamily, and mobile home customers. It also includes customers served outside the City limits in Tarpey Village. Tarpey Village consists of three residential customer classes; metered residential, non-metered residential, and non-metered large lot residential. Metered residential customers are assessed a per-dwelling unit service charge that does not vary by meter size and a tiered volume charge based on use. Tarpey Village non-residential large lot rate customers are assessed a service charge based on square footage. Tarpey Village non-metered customers are charged a fixed service charge. All Tarpey non-metered residential and non-metered large lot customers will have transitioned to metered service by the time of the FY27 rate implementation.

The commercial class includes commercial and industrial customers who are assessed a service charge based on meter size and a tiered volume charge based on use. Recycled water customers are assessed a service charge by meter size and a volume charge based on pressurized or non-pressurized use. Private firelines are assessed a service charge that does not vary by line size. Construction water accounts are temporary, unmetered customers that use water service for homes under construction. Construction water is assessed a service charge equal to the Tarpey un- metered service charge. Hydrant meter rates are assessed a service charge plus a volume rate for all usage.

The Inside City residential class includes a 3-tiered volume rate where the rate increases through each threshold. In a similar fashion, the commercial and industrial classes are assessed a 2-tiered volume rate which increases in each tier.

PROPOSED RATES
The customer classes for the proposed rates have been reclassified to apply to three classes, potable retail users, recycled water users, and private fire capacity users. Service charges apply to each class based on meter size or fireline size, as applicable. To ensure that all customers are assessed a proportionate share of costs to provide service, volume rates now apply uniformly to each type of water use, potable, recycled pressurized and recycled non-pressurized.

The potable retail class combines the existing residential, commercial, and landscape customers into one class that is assessed a service charge that varies by meter size and a uniform volume rate.

The recycled water class is assessed a service charge that varies by meter size and a volume rate based on whether the use is pressurized or non-pressurized. The private fire capacity class is assessed a stand-by charge that varies by fireline size. Raftelis proposes that proposed construction water charges for FY27 through FY31 be based on the 1” meter service charge plus 60,000 gallons of water use at the proposed volume rates. Hydrant meter rates are based on the 2-inch water meter service charge and the uniform volumetric use rate.

WATER RATE STUDY 22

DEVELOPMENT OF FIXED CHARGES
The potable retail, recycled, and private fireline fixed charges are based on the allocated customer cost of service components and their appropriate units of service. Table 20 shows the fixed charges, allocated costs, and associated units of service. Table 21 shows the scaling of the fixed charge across meter sizes.

Table 20: Development of Fixed Charges

Table 21: Service Charge Calculation by Meter Size

DEVELOPMENT OF VOLUME RATES
Volume rates for the potable retail and recycled water customers are calculated in a similar fashion to the fixed charges. Table 22 shows the development of the volume rates for both classes.

Table 22: Development of Volume Rates

Line Cost of Units of Unit Cost
No. COS Component Service Service Units of Service
$ per Eq Meter
1 Meters & Services $4,098,340 325,759 Equiv Meter Capacity [1] $12.58 2 Billing 3,273,070 283,189 Bills 11.56
3 Public Fire Protection 563,239 325,759 Equiv Meter Capacity [1] 1.73 4 Capacity Reserve 2,392,542 315,175 Equiv Meter Capacity [1,2] 7.59 5 Total $10,327,191 $33.46
6 Private Fireline (Capacity Portion) $36,532 4,252 4" Equivalent Fireline Bills [3] $8.59 [1] Includes residential, commercial, landscape, and recylced equivalent meters but excludes private firelines [2] Capacity reserve is related to potable water system only. Recycled water is excluded. [3] Total charge includes both private fire protection capacity and billing component costs (a) (b) (c) (d) (e)=(a)+(b)+(c)+(d) (f) (g)=(a)+(b)+(c) Monthly Monthly Public Readiness Total Recycled
Line Capacity Meter Billing Fire to Service Monthly Water No. Meter Size Equivalency Charge Charge Protection Capacity Charge Rounded Only 1 5/8 inch 1.00 $12.58 $11.56 $1.73 $7.59 $33.46 $33.46 $25.87 2 3/4 inch 1.00 12.58 11.56 1.73 7.59 33.46 33.46 25.87 3 1 inch 1.00 12.58 11.56 1.73 7.59 33.46 33.46 25.87
4 1.5 inch 2.00 25.16 11.56 3.46 15.18 55.36 55.36 40.18 5 2 inch 3.20 40.26 11.56 5.53 24.29 81.64 81.64 57.35
6 3 inch 6.40 80.52 11.56 11.07 48.58 151.72 151.72 103.14 7 4 inch 10.00 125.81 11.56 17.29 75.91 230.57 230.57 154.66 8 6 inch 20.00 251.62 11.56 34.58 151.82 449.58 449.58 297.76 9 8 inch 36.00 452.91 11.56 62.24 273.28 800.00 800.00 526.71 10 10 inch 48.00 603.88 11.56 82.99 364.38 1,062.81 1,062.81 698.43 Line Cost of Units of Unit Cost
No. COS Component Service Service Units of Service
1,000 gal $ per 1,000 gal
1 Volume Cost of Service $15,965,455 7,897,634 Potable water $2.02 2 Pressurized 204,443 235,739 Recycled water 0.87 3 Nonpressured 13,945 192,497 Recycled water 0.07

WATER RATE STUDY 23

PROPOSED FIVE-YEAR RATE SCHEDULE
Table 23 and Table 24 compares existing FY26 rates to proposed rates for FY27 through FY30. These rates are designed to recover the revenue identified in the operating fund cash flows. Rates for FY27 are based on this cost- of-service analysis and rates for FY28 through FY30 are based on FY27 with the annual rate increases shown in the operating fund cash flow.

WATER RATE STUDY 24

Table 23: Comparison of Existing and Proposed Service Charges

WATER RATE STUDY 25

CUSTOMER BILL IMPACTS
Figure 2 compares the current and FY27 proposed rates by showing a monthly bill for single family residential customers with a 1-inch meter. The comparison is further broken out by low (8 kgal), average (24 kgal), and high usage (32 kgal). The bill comparisons are shown on a monthly basis.

Figure 2: Single Family Residential Monthly Bill Impacts

Table 24: Comparison of Existing and Proposed Volume Rates

WATER RATE STUDY 26

DROUGHT RATE VOLUMETRIC SURCHARGES
The City is obligated to meet its annual net revenue requirements regardless of whether consumption levels decline due to State mandated conservation. Even if consumption levels decline, the City will continue to incur costs and must have a revenue-neutral mechanism to ensure fiscal sustainability. To this end, drought rates are intended to maintain the necessary level of revenues for the water utility.

Table 25 shows the baseline FY 2027 consumption as well as the projected consumption at each mandated conservation level.

Table 25: Consumption Assumptions Utilized in Drought Response Charge Analysis

Table 26 shows the maximum drought rate volumetric surcharge that could be enacted by the City Council in the event of mandated shortage level. The volumetric surcharges shown in the table would be applied to the potable uniform volumetric rate in place at the time of implementation.

Table 26: Drought Response Surcharges by Conservation Goal and Fiscal Year

Shortage Level1
Potable Water
Consumption
(1,000 gal/yr.)
Difference to
Baseline
(1,000 gal)
1 7,897,634 0
2 7,107,870 (789,763)
3 6,318,107 (1,579,527)
4 5,528,343 (2,369,290)
5 4,738,580 (3,159,053)
6 3,948,817 (3,948,817)

1. State Water Resources Control Board Water Shortage Contingency Plan Shortage Level.

2. Drought levels based on the State Water Resources Control Board Drought Emergency Water Conservation.

3. This represents the baseline consumption for FY 2027 consumption.

Conservation percentage for each drought stage is relative to the baseline consumption.

Up to 50% Conservation
Greater than 50% Conservation
Percent Shortage Range2
Less than 10% Conservation3
Up to 20% Conservation
Up to 30% Conservation
Up to 40% Conservation
FY 2027 Consumption Assumptions
Conservation Goal FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 < 10% $0.00 $0.00 $0.00 $0.00 $0.00
Up to 20% $0.23 $0.27 $0.32 $0.33 $0.34
Up to 30% $0.51 $0.61 $0.72 $0.74 $0.77
Up to 40% $0.87 $1.05 $1.23 $1.27 $1.31
Up to 50% $1.35 $1.63 $1.92 $1.98 $2.04
> 50% $2.02 $2.44 $2.88 $2.97 $3.06
Drought Response Surcharge ($/1,000 gal)

Appendix A
Financial Plan

City of Clovis Table A-1
Water Utility
Operating Fund (Enterprise Fund) Cash Flow Analysis
Line Fiscal Period Ending June 30
No. Description FY25 FY26 FY27 FY28 FY29 FY30 FY31
$ $ $ $ $ $ $
Sources of Funds 0.21% 1.87% 1.88% 1.88%
1 Revenue from Existing Water Service Rates 21,491,253 21,536,600 21,940,138 22,351,660 22,771,327 23,200,392 23,637,962 2 Additional Water Sales Revenue Required - - 2,303,714 7,533,627 13,568,728 18,083,943 19,686,904 3 Total Water Service Rate Revenue 21,491,253 21,536,600 24,243,852 29,885,287 36,340,054 41,284,335 43,324,866 4 Miscellaneous Revenue 1,547,204 1,554,844 1,562,637 1,570,586 1,578,693 1,586,963 1,595,398 5 Debt Proceeds (Transfers In) 770,000 770,000 770,000 770,000 770,000 770,000 770,000 6 Reserve Transfers In (Mem Replace, Drought, SGM 500,000 1,000,000 400,000 - - - 536,038 7 Interest Income 866,994 803,066 701,472 636,991 640,954 685,520 750,366 8 Total Sources 25,175,452 25,664,511 27,677,962 32,862,864 39,329,701 44,326,819 46,976,668 Uses of Funds
9 Operation and Maintenance Expense 26,603,928 27,665,934 29,137,928 29,685,545 30,750,785 29,660,598 31,255,080 Transfers to Reserves
10 Transfer to Membrane Replacement 100,000 100,000 100,000 200,000 200,000 250,000 250,000 11 Transfer to Drought Contingency - - - - - - - 12 Transfer to SGMA - 500,000 500,000 - - 500,000 500,000 13 Transfer to TCP Treatment 620,000 620,000 620,000 620,000 620,000 620,000 620,000 Transfers to Subfunds
14 Transfer to Capital Fund - - 3,834,334 2,469,746 8,161,797 10,626,694 12,740,489 15 Transfer to DIF Subfund 25% of Total Debt Service 732,125 730,750 732,938 728,438 - - - 16 Total Uses of Funds 28,056,053 29,616,684 34,925,200 33,703,728 39,732,582 41,657,292 45,365,569 17 Annual Surplus (Deficiency) (2,880,601) (3,952,173) (7,247,238) (840,863) (402,881) 2,669,527 1,611,099 18 Beginning Balance 22,730,000 19,849,399 15,897,226 8,649,988 7,809,124 7,406,243 10,075,770 19 Ending Balance 19,849,399 15,897,226 8,649,988 7,809,124 7,406,243 10,075,770 11,686,870 Target Reserves
20 Target Operating Reserves (90 Days O&M) 6,650,000 6,920,000 7,280,000 7,420,000 7,690,000 7,420,000 7,810,000 21 Unrestricted Operating Reserves 13,199,399 8,977,226 1,369,988 389,124 (283,757) 2,655,770 3,876,870 22 Annual Water Service Revenue Increase 0.0% 0.0% 21.0% 21.0% 18.0% 3.0% 3.0% 23 Debt Service Coverage 3.22 2.96 3.39 5.25 N/A N/A N/A 24 Cumulative Revenue Increase 0.0% 0.0% 21.0% 46.4% 72.8% 77.9% 83.3%

City of Clovis Table A-2
Water Utility
Capital Fund Cash Flow Analysis
Line Fiscal Period Ending June 30
No. Description FY25 FY26 FY27 FY28 FY29 FY30 FY31
$ $ $ $ $ $ $
Sources of Funds
1 Transfer From Operating Fund - - 3,834,334 2,469,746 8,161,797 10,626,694 12,740,489 2 Revenue Bond Proceeds (Non-Growth) - - - - - - - 3 State Loans (Non-Growth) - - - - - - - 4 Investment Income 134,979 103,152 38,694 52,874 - - - 5 Total Sources 134,979 103,152 3,873,028 2,522,619 8,161,797 10,626,694 12,740,489 Uses of Funds
6 Capital Projects (Non-Growth) 756,000 2,696,720 3,955,411 2,372,619 8,001,797 10,456,694 12,570,489 7 Transfer To Operating Fund - - - - - - - 8 Total Uses 756,000 2,696,720 3,955,411 2,372,619 8,001,797 10,456,694 12,570,489 9 Annual Surplus (Deficiency) (621,021) (2,593,568) (82,383) 150,000 160,000 170,000 170,000 10 Beginning Balance 7,126,972 6,505,951 3,912,383 3,830,000 3,980,000 4,140,000 4,310,000 11 Ending Balance 6,505,951 3,912,383 3,830,000 3,980,000 4,140,000 4,310,000 4,480,000 12 Target Reserve (Annual Depreciation) 3,536,323 3,680,000 3,830,000 3,980,000 4,140,000 4,310,000 4,480,000 13 Unrestricted Capital Reserves 2,969,629 232,383 - - - - -

City of Clovis Table A-3
Water Utility
Reserves Cash Flow Analysis
Line Estimated Budget
No. Description FY25 FY26 FY27 FY28 FY29 FY30 FY31
$ $ $ $ $ $ $
Membrane Replacement
1 Transfer From Operating Fund (In) 100,000 100,000 100,000 200,000 200,000 250,000 250,000 2 Transfer to Operating Fund (Out) Membrane Replacement - 0 400,000 - - - 536,038 3 Annual Surplus (Deficiency) 100,000 100,000 (300,000) 200,000 200,000 250,000 (286,038) 4 Beginning Balance 1,180,000 1,280,000 1,380,000 1,080,000 1,280,000 1,480,000 1,730,000 5 Ending Balance 1,280,000 1,380,000 1,080,000 1,280,000 1,480,000 1,730,000 1,443,962 Drought Contingency
6 Transfer From Operating Fund - - - - - - -
7 Transfer to Operating Fund (Out) 500,000 1,000,000 -
8 Annual Surplus (Deficiency) (500,000) (1,000,000) - - - - - 9 Beginning Balance 7,500,000 7,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 10 Ending Balance 7,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 SGMA
11 Transfer From Operating Fund - 500,000 500,000 - - 500,000 500,000 12 Transfer to Operating Fund (Out) - - - - - - -
13 Annual Surplus (Deficiency) - 500,000 500,000 - - 500,000 500,000 14 Beginning Balance 5,000,000 5,000,000 5,500,000 6,000,000 6,000,000 6,000,000 6,500,000 15 Ending Balance 5,000,000 5,500,000 6,000,000 6,000,000 6,000,000 6,500,000 7,000,000 TCP Treatment
16 Transfer From Operating Fund 620,000 620,000 620,000 620,000 620,000 620,000 620,000 17 Transfer to Operating Fund (Out) - - - - - - -
18 Annual Surplus (Deficiency) 620,000 620,000 620,000 620,000 620,000 620,000 620,000 19 Beginning Balance 8,270,000 8,890,000 9,510,000 10,130,000 10,750,000 11,370,000 11,990,000 20 Ending Balance 8,890,000 9,510,000 10,130,000 10,750,000 11,370,000 11,990,000 12,610,000 21 Total Reserve Balance 22,170,000 22,390,000 23,210,000 24,030,000 24,850,000 26,220,000 27,053,962 22 (2,660,601) (3,732,173) (6,427,238) (20,863) 922,263 4,487,195 2,923,395 23 42,019,399 38,287,226 31,859,988 31,839,124 32,761,387 37,248,582 40,171,976 24 Target Operating Reserves 6,650,000 6,920,000 7,280,000 7,420,000 7,690,000 7,420,000 7,810,000 25 Annual Water Service Revenue Increase 0.0% 0.0% 21.0% 21.0% 18.0% 3.0% 3.0% 26 Cumulative Revenue Increase 0.0% 0.0% 21.0% 46.4% 72.8% 77.9% 83.3% Operating Surplus (Deficiency)
(Lines 3, 8, 13, 18, 21, and Table 5, Line 17)
Total Operating Ending Balance
(Lines 5, 10, 15, 20, Table 5, Line 16)
Projected (Fiscal Year Ending June 30)

City of Clovis Table A-4
Water Utility
Projected Operation and Maintenance Expense
Line Budget Projected
No. Account Title FY25 FY26 FY27 FY28 FY29 FY30 FY31
$ $ $ $ $ $ $
Personnel Services
1 61000 SALARIES REGULAR 4,009,200 4,089,384 4,171,172 4,254,595 4,382,233 4,513,700 4,649,111 2 61150 SPEC TEAM PREMIUM 19,600 19,992 20,392 20,800 21,424 22,066 22,728 3 61160 ACTING/OUT OF CLASS PAY 12,000 12,240 12,485 12,734 13,117 13,510 13,915 4 61200 OVERTIME REGULAR 85,000 86,700 88,434 90,203 92,909 95,696 98,567 5 61207 OVERTIME-CALLOUT 1,600 1,632 1,665 1,698 1,749 1,801 1,855 6 61210 OVERTIME-SPECIAL EVENTS 5,000 5,100 5,202 5,306 5,465 5,629 5,798 7 61211 HOLIDAY BUYOUT 11,000 11,220 11,444 11,673 12,023 12,384 12,756 8 61214 OVERTIME COVID19 - - - - - - -
9 61216 CTO BUYBACK 50,000 51,000 52,020 53,060 54,652 56,292 57,981 10 61300 EXTRA HELP 1,000 1,020 1,040 1,061 1,093 1,126 1,160 11 61301 EXTRA HELP-INTERNS/AIDES 5,000 5,100 5,202 5,306 5,465 5,629 5,798 12 Subtotal Personnel Services 4,199,400 4,283,388 4,369,056 4,456,437 4,590,130 4,727,834 4,869,669 Employee Related Expenditures
13 62001 RETIREMENT-MISC 894,700 939,435 977,012 1,006,323 1,036,512 1,067,608 1,099,636 14 62002 RETIREMENT-SAFETY 20,600 21,630 22,495 23,170 23,865 24,581 25,319 15 62004 DEFERRED COMP CONTRIBUTION 92,400 97,020 100,901 103,928 107,046 110,257 113,565 16 62005 WORKER'S COMPENSATION 144,300 151,515 157,576 162,303 167,172 172,187 177,353 17 62006 HEALTH BENEFIT PLAN 730,000 766,500 797,160 821,075 845,707 871,078 897,211 18 62007 MEDICARE 64,000 67,200 69,888 71,985 74,144 76,369 78,660 19 62010 SICK LEAVE INCENTIVE 53,400 56,070 58,313 60,062 61,864 63,720 65,632 20 62011 SOC SEC/PERS-EXTRA HELP 1,400 1,470 1,529 1,575 1,622 1,671 1,721 21 62012 OTHER BENEFITS 11,500 12,075 12,558 12,935 13,323 13,722 14,134 22 62013 WORKER'S COMP-EH 800 840 874 900 927 955 983
23 62014 HEALTH INS REBATE 40,900 42,945 44,663 46,003 47,383 48,804 50,268 24 62020 UNIFORM ALLOWANCE 11,700 12,285 12,776 13,160 13,554 13,961 14,380 25 VANTAGE CARE CONTRIBUTION - - - - - - -
26 Subtotal Employee Related Expenditures 2,065,700 2,168,985 2,255,744 2,323,417 2,393,119 2,464,913 2,538,860 Professional Services
27 63000 FLEET- O/M CHARGE 333,500 350,175 367,684 386,068 405,371 425,640 446,922 28 63001 FLEET REPLACEMENT CHARGE 422,700 431,154 439,777 448,573 462,030 475,891 490,167 29 FLEET LEASE CHARGES - - - - - - -
30 63003 VEHICLE RENTAL - OUTSIDE VENDO 1,000 1,020 1,040 1,061 1,093 1,126 1,160 31 63004 VEHICLE ALLOWANCE 49,500 50,490 51,500 52,530 54,106 55,729 57,401 32 63009 FLEET ADMIN CHARGES 130,300 132,906 135,564 138,275 142,424 146,696 151,097 33 63100 ENERGY 5,810,000 6,187,650 6,589,847 6,886,390 7,196,278 7,520,110 7,858,515 34 63260 CELLULAR COMMUNICATION 18,000 18,360 18,727 19,102 19,675 20,265 20,873 35 PAGING SERVICES - - - - - - -
36 63300 PROFESSIONAL & PUBLIC SERVIC 11,200 11,424 11,652 11,886 12,242 12,609 12,988 37 63301 CONSULTING SERVICES 300,000 306,000 312,120 318,362 327,913 337,751 347,883 38 63302 LEGAL SERVICES 100,000 102,000 104,040 106,121 109,304 112,584 115,961 39 63304 MARKETING SERVICES 30,000 30,600 31,212 31,836 32,791 33,775 34,788 40 63310 LAB SERVICES 250,000 255,000 260,100 265,302 273,261 281,459 289,903 41 63315 OTHER SERVICES 245,000 249,900 254,898 259,996 267,796 275,830 284,105 42 63317 LANDSCAPE MAINTENANCE CONTRA 100,000 105,000 110,250 115,763 121,551 127,628 134,010 43 63333 SPECIAL EVENTS 1,400 1,428 1,457 1,486 1,530 1,576 1,623 44 63345 SURFACE WATER PURCHASE 1,850,000 1,887,000 1,924,740 1,963,235 2,022,132 2,082,796 2,145,280 45 63347 DBCP-LEGAL SERVICES 63,500 64,770 66,065 67,387 69,408 71,491 73,635 46 63350 TEMP PERSONNEL SERVICES 21,200 21,624 22,056 22,498 23,173 23,868 24,584 47 63390 CREDIT CARD CHARGES 95,200 97,104 99,046 101,027 104,058 107,180 110,395 48 63441 REPAIR & MAINTENANCE-COMPUTE - - - - - - -
49 63450 MISC EQUIPMENT REPAIR 3,700 3,885 4,079 4,283 4,497 4,722 4,958 50 63455 REPAIR & MTCE-OUTSIDE VENDOR 617,705 648,590 681,020 715,071 750,824 788,366 827,784 51 63459 REPAIR & MTCE-CORP YARD 50,000 52,500 55,125 57,881 60,775 63,814 67,005 52 REPAIR & MAINT-SEWER LIFT STAT - - - - - - -
53 63464 REPAIR & MAINT-WATER VALVES 75,000 78,750 82,688 86,822 91,163 95,721 100,507 54 63471 LAUNDRY SERVICES 5,000 5,250 5,513 5,788 6,078 6,381 6,700

City of Clovis Table A-4
Water Utility
Projected Operation and Maintenance Expense
Line Budget Projected
No. Account Title FY25 FY26 FY27 FY28 FY29 FY30 FY31
$ $ $ $ $ $ $
55 Subtotal Professional Services 10,583,905 11,092,580 11,630,201 12,066,742 12,559,473 13,073,007 13,608,244 Staff Development
56 64101 GENERAL OFFICE SUPPLIES-OTHE 2,000 2,100 2,184 2,250 2,317 2,387 2,458 57 64103 FORMS & PRINTING 20,000 21,000 21,840 22,495 23,170 23,865 24,581 58 64105 POSTAGE/SHIPPING 22,000 23,100 24,024 24,745 25,487 26,252 27,039 59 64210 FIRST AID 1,500 1,575 1,638 1,687 1,738 1,790 1,844 60 64221 UNIFORMS-NON-SWORN 13,000 13,650 14,196 14,622 15,061 15,512 15,978 61 64230 MISCELLANEOUS 75,000 78,750 81,900 84,357 86,888 89,494 92,179 62 64231 MISCELLANEOUS SUPPLIES COVID - - - - - - -
63 64237 SWTP LAB SUPPLIES 22,248 23,360 24,295 25,024 25,774 26,548 27,344 64 64240 PLUMBING & PIPE FITTINGS 200,000 210,000 218,400 224,952 231,701 238,652 245,811 65 64241 SPRINKLER SUPPLIES - - - - - - -
66 64242 CHEMICALS & FERTILIZERS 15,000 15,750 16,380 16,871 17,378 17,899 18,436 67 64243 PAINT AND SUPPLIES 8,000 8,400 8,736 8,998 9,268 9,546 9,832 68 64244 SIGNS & MATERIALS 1,000 1,050 1,092 1,125 1,159 1,193 1,229 69 64245 PAVING MATERIALS & SUPPLIES 4,000 4,200 4,368 4,499 4,634 4,773 4,916 70 64246 GRANULAR ACT. CARBON-SUPPLIE 150,000 157,500 163,800 168,714 173,775 178,989 184,358 71 64247 ELECTRICAL SUPPLIES 10,000 10,500 10,920 11,248 11,585 11,933 12,291 72 64249 TCP GRANULAR ACTIVATED CARBO TCP fund 150,000 157,500 163,800 168,714 173,775 178,989 184,358 73 64250 CHLORINE GENERATION 250,000 262,500 273,000 281,190 289,626 298,314 307,264 74 64255 SURFACE WATER TREAT-SUPPLIES 750,000 787,500 819,000 843,570 868,877 894,943 921,792 75 64260 RECYCLED WATER SUPPLIES 20,000 21,000 21,840 22,495 23,170 23,865 24,581 76 64402 PERSONAL SAFETY EQUIPMENT 10,000 10,500 10,920 11,248 11,585 11,933 12,291 77 64603 WELDING SUPPLIES 3,000 3,150 3,276 3,374 3,476 3,580 3,687 78 64604 TOOLS 25,000 26,250 27,300 28,119 28,963 29,831 30,726 79 Subtotal Staff Development 1,751,748 1,839,335 1,912,909 1,970,296 2,029,405 2,090,287 2,152,996 Maintenance and Operations
80 65001 TRAVEL-CONFERENCES 1,000 1,020 1,040 1,061 1,093 1,126 1,160 81 65002 TRAVEL-MEETINGS 4,000 4,080 4,162 4,245 4,372 4,503 4,638 82 65101 TRAINING-EDUCATIONAL INCENTI 40,000 40,800 41,616 42,448 43,722 45,033 46,384 83 65102 TRAINING-CLASSES & SEMINARS 10,000 10,200 10,404 10,612 10,930 11,258 11,596 84 65103 TRAINING-MATERIALS 1,500 1,530 1,561 1,592 1,640 1,689 1,739 85 65104 TRAINING-SAFETY 6,000 6,120 6,242 6,367 6,558 6,755 6,958 86 65201 MEMBERSHIP/ASSOCIATION DUES 5,000 5,100 5,202 5,306 5,465 5,629 5,798 87 65202 SUBSCRIPTIONS 1,200 1,224 1,248 1,273 1,312 1,351 1,392 88 65203 PUBLICATIONS & BOOKS 500 510 520 531 547 563 580 89 MEMBRANE REPLACEMENT - 0 400,000 - - - 536,038
90 Subtotal Maintenance and Operations 69,200 70,584 471,996 73,436 75,639 77,908 616,283 Other Expenditures
91 66001 GENERAL ADMINISTRATION CHARG 1,116,000 1,149,480 1,183,964 1,219,483 1,256,068 1,293,750 1,332,562 92 66002 IMPACT/EASEMENT RENTAL 785,900 809,477 833,761 858,774 884,537 911,073 938,406 93 66003 GENERAL SERVICE CHARGES 1,292,300 1,331,069 1,371,001 1,412,131 1,454,495 1,498,130 1,543,074 94 66005 PROPERTY & LIABILITY INS CHG 830,100 855,003 880,653 907,073 934,285 962,313 991,183 95 66020 PROPERTY TAXES 3,000 3,090 3,183 3,278 3,377 3,478 3,582 96 66803 GEN LIABILITY CLAIM-PROP - - - - - - -
97 Subtotal Other Expenditures 4,027,300 4,148,119 4,272,563 4,400,739 4,532,762 4,668,744 4,808,807 Capital Outlay
98 68103 FURNISHINGS 5,000 5,200 5,408 5,624 5,849 6,083 6,327 99 68104 CABINETS - - - - - - -
100 GPS-VEHICLE TRACKING SYSTEM - - - - - - -
101 68502 TRAFFIC CONTROL EQUIP 6,000 6,240 6,490 6,749 7,019 7,300 7,592 102 SIGNS - - - - - - -
103 SEWER VIDEO EQUIPMENT - - - - - - -
104 68525 MISC SEWER EQUIPMENT - - - - - - -
105 68530 WATER METERS & BOXES 3,086,470 3,209,929 3,338,326 3,471,859 3,610,733 1,560,000 1,622,400

City of Clovis Table A-4
Water Utility
Projected Operation and Maintenance Expense
Line Budget Projected
No. Account Title FY25 FY26 FY27 FY28 FY29 FY30 FY31
$ $ $ $ $ $ $
106 68531 HYDRANTS 80,000 83,200 86,528 89,989 93,589 97,332 101,226 107 68532 TELEMETRY EQUIPMENT 150,000 156,000 162,240 168,730 175,479 182,498 189,798 108 68533 WATER MONITORING EQUIP 39,543 41,125 42,770 44,481 46,260 48,111 50,035 109 68541 DIAGNOSTIC EQUIPMENT 1,000 1,040 1,082 1,125 1,170 1,217 1,265 110 68560 TURF EQUIPMENT 1,500 1,560 1,622 1,687 1,755 1,825 1,898 111 68562 SPRINKLER EQUIPMENT - - - - - - -
112 68603 CELLULAR PHONES - - - - - - -
113 STANDARD PICK UP - - - - - - -
114 VANS-NON-TRANSIT - - - - - - -
115 LIGHT DUTY TRUCK 1-5 TON - - - - - - -
116 68750 SPECIALTY EQUIPMENT 437,162 454,648 472,834 491,748 511,417 531,874 553,149 117 CORPORATION YARD EXPANSION - - - - - - -
118 PLANT AND TRUNK CAPITAL - - - - - - -
119 PEACH/STUART LIFT STATION - - - - - - -
120 RECHARGE FACILITY- BARSTOW PARK 100,000 104,000 108,160 112,486 116,986 121,665 126,532 121 Subtotal Capital Outlay 3,906,675 4,062,942 4,225,460 4,394,478 4,570,257 2,557,905 2,660,221 126 Total Operating & Maintenance Expense 26,603,928 27,665,934 29,137,928 29,685,545 30,750,785 29,660,598 31,255,080 29% 4% 5% 2% 4% -4% 5%
Description
1 Administrative Assistant 0.250 0.250 0.250 0.250 0.250 0.250 0.250 2 Assistant Public Utilities Director 0.250 0.250 0.250 0.250 0.250 0.250 0.250 3 Assistant Water Systems Technician 4.000 4.000 4.000 4.000 4.000 4.000 4.000 4 Communications & Marketing Analyst 0.100 0.100 0.100 0.100 0.100 0.100 0.100 5 Deputy Public Utilities Director 0.450 0.450 0.450 0.450 0.450 0.450 0.450 6 Electrician 1.000 1.000 1.000 1.000 1.000 1.000 1.000 7 Engineer I 2.350 2.350 2.350 2.350 2.350 2.350 2.350
8 Engineer II 2.350 2.350 2.350 2.350 2.350 2.350 2.350 9 Civil Engineer 2.350 2.350 2.350 2.350 2.350 2.350 2.350 10 Engineering Inspector 0.500 0.500 0.500 0.500 0.500 0.500 0.500 11 Senior Engineering Inspector 0.500 0.500 0.500 0.500 0.500 0.500 0.500 12 Engineering Tech 1.150 1.150 1.150 1.150 1.150 1.150 1.150 13 Senior Engineering Tech 1.150 1.150 1.150 1.150 1.150 1.150 1.150 14 Maintenance Leadworker 3.000 3.000 3.000 3.000 3.000 3.000 3.000 15 Maintenance Worker 13.600 13.600 13.600 13.600 13.600 13.600 13.600 16 Senior Maintenance Worker 13.600 13.600 13.600 13.600 13.600 13.600 13.600 17 Management Analyst 0.240 0.240 0.240 0.240 0.240 0.240 0.240 18 Meter Reader 4.000 4.000 4.000 4.000 4.000 4.000 4.000 19 Principal Office Assistant 1.400 1.400 1.400 1.400 1.400 1.400 1.400 20 Principal Utilities Engineer 0.350 0.350 0.350 0.350 0.350 0.350 0.350 21 Public Utilities Director 0.300 0.300 0.300 0.300 0.300 0.300 0.300 22 Senior Management Analyst 0.300 0.300 0.300 0.300 0.300 0.300 0.300 23 Staff Analyst 0.500 0.500 0.500 0.500 0.500 0.500 0.500 24 Supervising Civil Engineer 0.690 0.690 0.690 0.690 0.690 0.690 0.690 25 Utilities Manager 0.500 0.500 0.500 0.500 0.500 0.500 0.500 26 Utility Worker 7.330 7.330 7.330 7.330 7.330 7.330 7.330 27 Water Production Manager 1.000 1.000 1.000 1.000 1.000 1.000 1.000 28 Water Systems Supervisor 1.000 1.000 1.000 1.000 1.000 1.000 1.000 29 Water Systems Technician 1.000 1.000 1.000 1.000 1.000 1.000 1.000 30 Water Treatment Plant Operator 3.000 3.000 3.000 3.000 3.000 3.000 3.000 Salary/Benefit Cost per FTE
1 Administrative Assistant PS 84,072 85,753 87,469 89,218 91,002 92,822 94,679 2 Assistant Public Utilities Director PS 191,664 195,497 199,407 203,395 207,463 211,613 215,845 3 Assistant Water Systems Technician PS 88,944 90,723 92,537 94,388 96,276 98,201 100,165 4 Communications & Marketing Analyst PS 119,304 121,690 124,124 126,606 129,138 131,721 134,356 5 Deputy Public Utilities Director PS 205,668 209,781 213,977 218,257 222,622 227,074 231,616 6 Electrician PS 104,496 106,586 108,718 110,892 113,110 115,372 117,679

City of Clovis Table A-4
Water Utility
Projected Operation and Maintenance Expense
Line Budget Projected
No. Account Title FY25 FY26 FY27 FY28 FY29 FY30 FY31
$ $ $ $ $ $ $
7 Engineer I PS 110,928 113,147 115,409 117,718 120,072 122,473 124,923 8 Engineer II PS 122,292 124,738 127,233 129,777 132,373 135,020 137,721 9 Civil Engineer PS 144,348 147,235 150,180 153,183 156,247 159,372 162,559 10 Engineering Inspector PS 97,788 99,744 101,739 103,773 105,849 107,966 110,125 11 Senior Engineering Inspector PS 110,808 113,024 115,285 117,590 119,942 122,341 124,788 12 Engineering Tech PS 80,052 81,653 83,286 84,952 86,651 88,384 90,152 13 Senior Engineering Tech PS 90,468 92,277 94,123 96,005 97,925 99,884 101,882 14 Maintenance Leadworker PS 97,752 99,707 101,701 103,735 105,810 107,926 110,085 15 Maintenance Worker PS 65,112 66,414 67,743 69,097 70,479 71,889 73,327 16 Senior Maintenance Worker PS 82,320 83,966 85,646 87,359 89,106 90,888 92,706 17 Management Analyst PS 115,824 118,140 120,503 122,913 125,372 127,879 130,437 18 Meter Reader PS 73,608 75,080 76,582 78,113 79,676 81,269 82,895 19 Principal Office Assistant PS 69,876 71,274 72,699 74,153 75,636 77,149 78,692 20 Principal Utilities Engineer PS 182,520 186,170 189,894 193,692 197,566 201,517 205,547 21 Public Utilities Director PS 237,144 241,887 246,725 251,659 256,692 261,826 267,063 22 Senior Management Analyst PS 127,980 130,540 133,150 135,813 138,530 141,300 144,126 23 Staff Analyst PS 79,848 81,445 83,074 84,735 86,430 88,159 89,922 24 Supervising Civil Engineer PS 161,136 164,359 167,646 170,999 174,419 177,907 181,465 25 Utilities Manager PS 160,524 163,734 167,009 170,349 173,756 177,231 180,776 26 Utility Worker PS 54,504 55,594 56,706 57,840 58,997 60,177 61,380 27 Water Production Manager PS 150,264 153,269 156,335 159,461 162,651 165,904 169,222 28 Water Systems Supervisor PS - - - - - -
29 Water Systems Technician PS 106,536 108,667 110,840 113,057 115,318 117,624 119,977 30 Water Treatment Plant Operator PS 106,536 108,667 110,840 113,057 115,318 117,624 119,977 Total FTE Cost
1 Administrative Assistant 21,018 21,438 21,867 22,304 22,751 23,206 23,670 2 Assistant Public Utilities Director 47,916 48,874 49,852 50,849 51,866 52,903 53,961 3 Assistant Water Systems Technician 355,776 362,892 370,149 377,552 385,103 392,805 400,662 4 Communications & Marketing Analyst 11,930 12,169 12,412 12,661 12,914 13,172 13,436 5 Deputy Public Utilities Director 92,551 94,402 96,290 98,215 100,180 102,183 104,227 6 Electrician 104,496 106,586 108,718 110,892 113,110 115,372 117,679 7 Engineer I 260,681 265,894 271,212 276,637 282,169 287,813 293,569 8 Engineer II 287,386 293,134 298,997 304,977 311,076 317,298 323,644 9 Civil Engineer 339,218 346,002 352,922 359,981 367,180 374,524 382,014 10 Engineering Inspector 48,894 49,872 50,869 51,887 52,924 53,983 55,063 11 Senior Engineering Inspector 55,404 56,512 57,642 58,795 59,971 61,170 62,394 12 Engineering Tech 92,060 93,901 95,779 97,695 99,648 101,641 103,674 13 Senior Engineering Tech 104,038 106,119 108,241 110,406 112,614 114,867 117,164 14 Maintenance Leadworker 293,256 299,121 305,104 311,206 317,430 323,778 330,254 15 Maintenance Worker 885,523 903,234 921,298 939,724 958,519 977,689 997,243 16 Senior Maintenance Worker 1,119,552 1,141,943 1,164,782 1,188,078 1,211,839 1,236,076 1,260,797 17 Management Analyst 27,798 28,354 28,921 29,499 30,089 30,691 31,305 18 Meter Reader 294,432 300,321 306,327 312,454 318,703 325,077 331,578 19 Principal Office Assistant 97,826 99,783 101,779 103,814 105,890 108,008 110,168 20 Principal Utilities Engineer 63,882 65,160 66,463 67,792 69,148 70,531 71,942 21 Public Utilities Director 71,143 72,566 74,017 75,498 77,008 78,548 80,119 22 Senior Management Analyst 38,394 39,162 39,945 40,744 41,559 42,390 43,238 23 Staff Analyst 39,924 40,722 41,537 42,368 43,215 44,079 44,961 24 Supervising Civil Engineer 111,184 113,408 115,676 117,989 120,349 122,756 125,211 25 Utilities Manager 80,262 81,867 83,505 85,175 86,878 88,616 90,388 26 Utility Worker 399,514 407,505 415,655 423,968 432,447 441,096 449,918 27 Water Production Manager 150,264 153,269 156,335 159,461 162,651 165,904 169,222 28 Water Systems Supervisor 0 0 0 0 0 0 0
29 Water Systems Technician 106,536 108,667 110,840 113,057 115,318 117,624 119,977 30 Water Treatment Plant Operator 319,608 326,000 332,520 339,171 345,954 352,873 359,931 31 Subtotal 5,920,467 6,038,876 6,159,653 6,282,846 6,408,503 6,536,673 6,667,407 Source: 'Detail of Positions.xlsm'

City of Clovis Table A-5
Water Utility
Enterprise Capital Improvement Program (Uninflated)
Annual
Line Inflation Bugdet Projected Total
No. Account Title Factor FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY25 - FY31 $ $ $ $ $ $ $ $
1 76010 Various Water Main Replacement 4% 25,000 25,000 25,000 25,000 25,000 125,000 2 76010 Clovis Avenue - Gettysburg to Donner 4% 115,000 115,000 3 76509 Sierra Avenue - DeWitt to SR168 4% 140,000 140,000 4 76509 Tarpey Service Area - Redundancy 4% 160,000 160,000 5 76509 Rotary Park - Pump, Motor, Electrical, and Piping 4% - 6 76615 Railroad Park (Peach/Alluvial) - Pump, Motor, Electrical, and Piping4% - 7 76615 Cottonwood Park & Dry Creek Trail - Pump, Motor, Electrical, and Piping4% - 8 77528 SWTP Pretreatment 4% 1,604,720 5,369,640 5,369,640 12,344,000 9 77531 SWTP Process Addition 4% -
10 75126 Loma Vista Recharge Basin 4% 131,000 1,000,000 1,131,000 11 77532 Water Storage Reservoir #6 - Additional Reservoir at SE-SWTP 4% 250,000 1,941,250 1,941,250 4,132,500 12 77516 Well Panel Upgrades - Wells 8A,23,25 4% 700,000 700,000 13 77761 Well 40 - Fowler/Gettysburg - Treatment 4% 1,000,000 1,000,000 14 77650 Well 6 Replacement Willow/Barstow Avenues - Drill and Develop4% - 15 77650 Well 6 Replacement Willow/Barstow Avenues -Pump and Motor4% - 16 77650 Well 6 Replacement Willow/Barstow Avenues -Chlorination Facilities4% - 17 77600 Well 35 - DeWitt/Santa Ana - Pump and Motor 4% 600,000 600,000 18 77600 Well 35 - DeWitt/Santa Ana - Chlorination 4% 155,000 155,000 19 77600 Well 35 - DeWitt/Santa Ana - Auxiliary Power 4% 143,000 143,000 20 77600 Well T9 Gettysburg/Minnewawa - Drill and Develop 4% - 21 77600 Well T9 Gettysburg/Minnewawa - Pump and Motor 4% - 22 77600 Well T9 Gettysburg/Minnewawa - Pump and Motor 4% - 23 77600 Various Well Replacement 4% 775,000 775,000
24 Raw Water Main 4% -
25 Water Storage Reservoir #10 4% -
26 Water Storage Reservoir #7 4% -
27 Pump Station at Reservoir #10 4% -
28 Northeast SWTP 4% 600,000 600,000
29 Northeast SWTP Pump Station 4% -
30 I&C Architecture and Equipment 4% 522,000 522,000
31 Canal Intake 4% 41,000 41,000
32 MF Feed Pumps and Strainers 4% 4,565,000 4,565,000
33 Pall Microfiltration System Upgrades 4% 1,525,000 1,525,000 34 Chemical Storage and Feed Facilities 4% 1,791,000 1,791,000 35 High Service Pump Station VFD 4% 2,354,000 2,354,000 36 Increased Power Supply 4% 1,566,000 1,566,000
37 Total Water Capital Improvement Plan Enterprise Fund (Uninflated) 756,000 2,593,000 3,657,000 2,109,250 6,839,970 8,594,640 9,934,640 34,484,500 Source: 'WaterEntCIP-FY24-25-FINAL.pdf'

City of Clovis Table A-5
Water Utility
Enterprise Capital Improvement Program (Inflated)
Annual
Line Inflation Bugdet Projected Total
No. Account Title Factor FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY25 - FY31 $ $ $ $ $ $ $ $
1 76010 Various Water Main Replacement 4% 25,000 26,000 27,040 28,122 29,246 - - 135,408 2 76010 Clovis Avenue - Gettysburg to Donner 4% - - 124,384 - - - - 124,384 3 76509 Sierra Avenue - DeWitt to SR168 4% - - - - 163,780 - - 163,780 4 76509 Tarpey Service Area - Redundancy 4% - - 173,056 - - - - 173,056 5 76509 Rotary Park - Pump, Motor, Electrical, and Piping 4% - - - - - - - - 6 76615 Railroad Park (Peach/Alluvial) - Pump, Motor, Electrical, and Piping4% - - - - - - - - 7 76615 Cottonwood Park & Dry Creek Trail - Pump, Motor, Electrical, and Piping4% - - - - - - - - 8 77528 SWTP Pretreatment 4% - - - - 1,877,295 6,532,988 6,794,308 15,204,591 9 77531 SWTP Process Addition 4% - - - - - - - -
10 75126 Loma Vista Recharge Basin 4% 131,000 1,040,000 - - - - - 1,171,000 11 77532 Water Storage Reservoir #6 - Additional Reservoir at SE-SWTP4% - 260,000 - 2,183,642 2,270,988 - - 4,714,630 12 77516 Well Panel Upgrades - Wells 8A,23,25 4% - - - - - 851,657 - 851,657 13 77761 Well 40 - Fowler/Gettysburg - Treatment 4% - - - - - 1,216,653 - 1,216,653 14 77650 Well 6 Replacement Willow/Barstow Avenues - Drill and Develop4% - - - - - - - - 15 77650 Well 6 Replacement Willow/Barstow Avenues -Pump and Motor4% - - - - - - - - 16 77650 Well 6 Replacement Willow/Barstow Avenues -Chlorination Facilities4% - - - - - - - - 17 77600 Well 35 - DeWitt/Santa Ana - Pump and Motor 4% - 624,000 - - - - - 624,000 18 77600 Well 35 - DeWitt/Santa Ana - Chlorination 4% - 161,200 - - - - - 161,200 19 77600 Well 35 - DeWitt/Santa Ana - Auxiliary Power 4% - - - 160,856 - - - 160,856 20 77600 Well T9 Gettysburg/Minnewawa - Drill and Develop 4% - - - - - - - - 21 77600 Well T9 Gettysburg/Minnewawa - Pump and Motor 4% - - - - - - - - 22 77600 Well T9 Gettysburg/Minnewawa - Pump and Motor 4% - - - - - - - - 23 77600 Various Well Replacement 4% - - - - 906,640 - - 906,640 24 Raw Water Main 4% - - - - - - - -
25 Water Storage Reservoir #10 4% - - - - - - - -
26 Water Storage Reservoir #7 4% - - - - - - - -
27 Pump Station at Reservoir #10 4% - - - - - - - -
28 Northeast SWTP 4% 600,000 - - - - - - 600,000
29 Northeast SWTP Pump Station 4% - - - - - - - -
30 I&C Architecture and Equipment 4% - 542,880 - - - - - 542,880 31 Canal Intake 4% - 42,640 - - - - - 42,640
32 MF Feed Pumps and Strainers 4% - - - - - - 5,776,181 5,776,181 33 Pall Microfiltration System Upgrades 4% - - - - - 1,855,396 - 1,855,396 34 Chemical Storage and Feed Facilities 4% - - 1,937,146 - - - - 1,937,146 35 High Service Pump Station VFD 4% - - - - 2,753,847 - - 2,753,847 36 Increased Power Supply 4% - - 1,693,786 - - - - 1,693,786 38 Total Water Capital Improvement Plan Enterprise Fund (Uninflated) 756,000 2,696,720 3,955,411 2,372,619 8,001,797 10,456,694 12,570,489 40,809,731 TRUE