Agenda packet — Colma City Council, April 23, 2025 (part 2 of 2)

US Treasury Bills, Notes, & B -- 5 Years
US Government Sponsored A 20% 5 Years
Bankers Acceptances* 20% 180 Days
Commercial Paper* 15% 270 Days
Negotiable CDs* 20% 5 Years
Time CDs -- 5 Years
Bank/Broker CDs 30% 5 Years
Local Agency Investment Fu$75 million --
-- --
Money Market Funds* 20% --
Medium Term Notes* 15% 5 Years
* Additional limitations applies. See Colma Administrative Code 4.02

INVESTMENT POLICY OVERVIEW
FY 2024-25 MID-YEAR INVESTMENT REPORT
(JULY 1, 2024 – DECEMBER 31, 2024)
San Mateo County
Investment
Cash and Investment Portfolio Summary
Investment Philosophy Investment Objective
Authorized Investment
Comply with Government
Code
Maximum
Investme
Maximum
Maturity
Safety: seeks to safeguard the principal of the funds under its control by maintaining an appropriate risk level.

Liquidity: sufficiently liquid to enable the Town to meet its reasonably anticipated cash flow requirements.

Yield: attain market average rate of return on its investments throughout economic cycles, consistent with constraints imposed by its safety objectives and cash flow considerations.

Diversification: avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions. This shall also conform with applicable sections of the Government Code Hold To Maturity: hold its investments to maturity in order to maximize its return on its investments and minimize its exposure to potential losses, when possible.

Benchmark: Based on a passive investment strategy and a portfolio consisting of primarily bank deposits and public agency investment pools. May use as a comparison yield benchmark portfolios of similar average investment maturity.

To invest public funds in a manner that will provide a
reasonable rate of investment return while minimizing
exposure to loss of capital and thereby maintaining a
consistent source of funds for the Town.

On December 31, 2024, the Town has a balance of $55.04
million in various cash and investment accounts. Unrestricted cash and investment has an aggregate balance of $41.69 million and restricted investments total $13.35 million. The restricted funds consist of $8.53 million in PARS OPEB Trust to fund future retiree medical and dental costs, $4.82 million in PARS Pension trust to fund future pension costs, and $373 in Bank of New York Mellon, which would offset debt payments.

The unrestricted funds of $41.69 million include $17.57 million in Cash-in-Bank, $19.20 million in the State (LAIF) and county (SMCIF) pools, and $4.91 million in brokered CDs. The pooled accounts focus on liquidity and safekeeping of the assets. The investment strategy for both pools invests 50% or more in agency and treasury bonds and the rest in high- quality low-risk investments. The brokered CDs are limited to $250,000 per issuer and are fully insured by FDIC or NCUSIF.

Cash in Bank
$17.57 M, 32%
LAIF
$2.31 M,
4%
SMCIF
$16.90 M, 31%
Brokered CDs
$4.91 M, 9%
Debt
0%

PARS-OPEB
$8.53 M, 15%
PARS-Pension
$4.82 M, 9%

CASH, INVESTMENT, AND RESTRICTED FUNDS

ATTACHMENT C
\

1.82 Yrs. 3.80%

0.7 Yrs. 0.45%

2.06 Yrs. 2.33%
Cash and Investment
Balance
12/31/2024
Interest
Earnings
Unrealized
Gain/Loss
Cash in Bank $ 17,571,256 $ 3,670 $ - LAIF 2,310,843 52,563 -
SMIF 16,895,429 325,246 -
Brokered CDs 4,882,077 48,312 119,124 Total Unrestricted $ 41,659,605 $ 429,791 $ 119,124 115 Trust & Debt 13,346,809 294,494 -
Total Cash & Inv. $ 55,006,414 $ 724,285 $ 119,124 Cash and Investment Portfolio Highlights
Five-Year Comparison
Cash Balance
Agency Investment Pools (SMIF and LAIF)
MBS Brokered CDs
Investment Types
Average
Life
Average
Yield
San Mateo County (SMIF)
State of California (LAIF)
Bank/Brokered CDs (MBS)
Total Investment Earnings
Through December 31, 2024, the Town received
$429,791 in unrestricted investment earnings with
$119,124 in unrealized gain. The unrealized gain
represents the today's market value of the Town's
brokered CDs. The unrealized gain/loss is important
to note if the Town were to liquidate its CDs today.

Since the Town intends to hold the Brokered CDs
until maturity, the unrealized gain/loss is considered
as accounting entries and are not true gains or losses.

Additionally, the principal of $4.96 million is fully
secured.
$38.19 M
$40.97 M $43.19 M
$51.85 M
$55.01 M
$0 M
$10 M
$20 M
$30 M
$40 M
$50 M
$60 M
Jun '21 Jun '22 Jun'23 Jun' 24 Dec'24
Town's Cash and Investment Balance
Five-Year Comparison
Cash in Bank
LAIF
SMIF
Brokered CDs
115 Trust & Debt
The Town maintains a minimum of $5.00 million in the Cash in Bank account to ensure adequate working capital to meet operating and capital needs . As shown in the 5-Year
Comparison, the green bar stayed close to $10.00 million in 2021 through 2023 and had $15.8 million in June 2024 . The Town's cash balance increased as a result of inflation and higher sales tax revenues. With an ending cash balance of $17.57 million by December, 2024.

As of December 31, 2024, the Town has $17.57 million and will evaluate whether to transfer excess funds to SMIF.

Determining factors include capital improvement needs and economic factors impacting the Town's sales tax revenues in FY 2024-25.

The Town participates in the Local Agency Investment
Fund (LAIF) and San Mateo County Investment Pool Fund
(SMIF) and invests majority of its excess unrestricted
funds in both agency investments pools.

Both pools are actively managed by State and County
Treasurer's, respectively, and follow the California
Government Code Section 53646. The table below shows
the average portfolio life and average yield for both pools.

In general, the longer the portfolio life, the higher the yield. The portfolio life also indicates how often the
securities within a portfolio are changed.

As of December 31, 2024, the Town had $2.31 million in
LAIF and $16.90 million in SMIF.Beginning in December 2019, the Town purchased $4.96 million worth of bank/brokered CDs, which are
100% FDIA/NCUSIF insured securities. The maturity
date of the CDs ranges from 1 to 5 years with each
newly matured CDs are replaced with CDs with 5-
year maturity. The purpose of this strategy is to
stabilize the Town's annual investment yield.

As of June 30, 2024, the Town's CDs have a market
value of $4.79 million. In December 31, 2024 the
market value is $4.88 million. Market value includes
unrealized gains/losses.

As illustrated in the five-year comparison chart, the
Town's total cash and investment has grown from
$38.19 million to $55.01 million. The growth can be
attributed to budget surplus and continuous effects
in improving its financial management. The different
colors in the chart also indicate how the Town's
investment portfolio has become more diversified.
•
•
•
•
•
Laddered Portfolio
Prepared For:

Colma
by:

Peter Yanez
VP Fixed Income
855-928-0111
[email protected]

ATTACHMENT D
[MBSI MULTI - BANK SECURIT I ES, I NC:

March 04, 2025
1000 Town Center, Suite 2300
Southfield, Michigan 48075
PHONES: (800) 967-9045
(248) 291-1100
(248) 291-1101
2400 E. Commercial Blvd. Suite 812
Ft. Lauderdale, Florida 33038
PHONES: (800) 967-9045
(954) 351-6930
FAX: (954) 351-9197
Laddered Portfolio
Qty
(000) Cusip
Rating /
FDIC # Issue Coupon Maturity Price YTCYTM
Accrued
InterestPrincipal Net AmountYTP
* = YTW
1,000 91282CGL9 Aaa/- United States Treas Nts 4.000% 02/15/2026 $100.045 N/A* 3.949% $1,988.95$1,000,453.12 $1,002,442.07N/A Semiannual
1,000 91282CMP3 Aaa/- United States Treas Nts 4.125% 02/28/2027 $100.506 N/A* 3.858% $560.46$1,005,062.50 $1,005,622.96N/A Semiannual
1,000 91282CGP0 Aaa/- United States Treas Notes 4.000% 02/29/2028 $100.354 N/A* 3.873% $543.48$1,003,539.06 $1,004,082.54N/A Semiannual
1,000 91282CKG5 Aaa/- United States Treas Notes 4.125% 03/31/2029 $100.772 N/A* 3.917% $17,678.57$1,007,718.75 $1,025,397.32N/A Semiannual
1,000 91282CGQ8 Aaa/- United States Treas Notes 4.000% 02/28/2030 $100.311 N/A* 3.931% $543.48$1,003,109.38 $1,003,652.86N/A Semiannual

3.00 $5,019,882.81 $5,041,197.75$21,314.944.050% $100.398 Avg
Price
Total
Principal
Total Accrued
Interest
Avg
Coupon
Total
Investment
Avg Yrs
Maturity
Weighted Averages and Totals
(n) Floating/Variable rate - (c) Yield to Call - (p) Yield to Par Call - (w) Yield to Middle Call - (u) Yield to Put - (dis) Discount Yield - (r) Pre-Refund - (t) Mandatory Put - (f) Called in Full Monthly Coupon Payments (12 months) Apr/25 May/25 Jun/25 Jul/25 Aug/25 Sep/25 Oct/25 Nov/25 Dec/25 Jan/26 Feb/26 Mar/26 Total United States Treas Notes $20,000 $20,000 $40,000
United States Treas Notes $20,625 $20,625 $41,250
United States Treas Notes $20,000 $20,000 $40,000
United States Treas Nts $20,000 $20,000 $40,000
United States Treas Nts $20,625 $20,625 $41,250
Total $0 $0 $0 $0 $80,625 $20,625 $0 $0 $0 $0 $80,625 $20,625 $202,500

Page 2 of 3 ends

Subject to availability. Market price and yields quoted are subject to change and will fluctuate over the life of the bonds. Yields on CDs are quoted as Annual Percentage Yield (APY).

Brokered CDs are FDIC-insured up to applicable limits. For additional information on any of the securities listed, please contact your Multi-Bank Securities, Inc. (MBS) account representative. This material is for general information only. MBS is not soliciting any action from any particular investor. Information presented has been obtained or derived from sources believed reliable, but no guarantee is made of their accuracy or completeness. Member of FINRA & SIPC; MSRB Registered.

3.00yr(s)

4.050%

3.906%

4.034%

2.75 Tax Equivalent Yield 3.906%

Page 3 of 3 ends

Subject to availability. Market price and yields quoted are subject to change and will fluctuate over the life of the bonds. Yields on CDs are quoted as Annual Percentage Yield (APY).

MULTI - BANK SECURJTI ES, INC:

4.00 -

3.50 -

3.00 -

2.50 -

2.00 -

1.50 -

1.00 -

0.50 -

0.00 -
Yield vs. Maturity
$80,000 -
$70,000 -
$60,000 -
$50,000 -
$40,000 -
$30,000 -
$20,000 -
$10,000 -
$0 -
Monthly Coupon Payments

I
- -
- -
• JI.• 4 II
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CHAPTER FOUR: ORGANIZATION, FUNCTIONS AND GENERAL PROVISIONS SUBCHAPTER 4.02: Investment Policy
Division 1: General Principles

4.02.010 Policy Statement and Purpose
It is the policy of the Town of Colma to invest public funds in a manner which will provide safety, liquidity and yield through a diversified investment portfolio suitable for management by the Town Staff. At all times the policy shall adhere to daily cash flow requirements and conforming to all State statutes (California Government Code (California Government Code) §53600, et seq.) governing the investment of public funds.
[History: Formerly § 1.03.010; Adopted Res 2000-75, 12/13/2000; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18]

4.02.020 Scope
This Investment Policy applies to all invested financial assets of the Town of Colma, unless specifically exempted or covered by other investment criteria, such as in a bond or trust covenant or indenture. These funds are accounted for in the Town Annual Audited Financial Statements, and include the General Fund, Special Revenue Funds, Capital Project Funds, and Internal Service Funds.

Except for cash held in separate restricted funds, the Town will pool cash balances from all funds for investment in order to more effectively manage cash resources held by the Town. Investment income will be allocated to the Town’s Funds based upon their respective cash balances and in accordance with Generally Accepted Accounting Principles (GAAP). [History: Formerly § 1.03.020; Adopted Res 2000-75, 12/13/2000; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18]

4.02.030 Objectives/Performance Standards
The overall program shall be designed and managed with a degree of professionalism worthy of the public trust. The primary objectives, in order of priority, of the Town’s investment activities shall be:

A)
Safety: Safety of principal is the foremost objective of the investment program. The Town's investments shall be undertaken in a manner that seeks to safeguard the principal of the funds under its control by maintaining an appropriate risk level.

B) Liquidity: The Town's investment portfolio will remain sufficiently liquid to enable the Town to meet its reasonably anticipated cash flow requirements.

C) Yield: Yield should become a consideration only after the basic requirements of safety and liquidity have been met. The Town seeks to attain market average rate of return on its investments throughout economic cycles, consistent with constraints

ATTACHMENT E
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imposed by its safety objectives and cash flow considerations.

D) Diversification: The investment portfolio will be diversified to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions. This shall also conform with applicable sections of the Government Code.

To attain this objective, the Town will initially diversify its investments by investing funds with suitable public agency pools which can provide a variety of securities and financial institutions meeting this requirement for diversification.

E) Hold To Maturity : The Town intends to hold its investments to maturity in order to maximize its return on its investments and minimize its exposure to potential losses resulting from temporary declines in the market values of its investments. However, if a decline in the market value of a security is deemed by Staff to be permanent, the security may be sold early to minimize the loss of principal. Although there may be opportunities to resell securities, this type of regular trading is not recommended.

F) Benchmark: Based on a passive investment strategy and a portfolio consisting of primarily bank deposits and public agency investment pools, the Treasurer may use as a comparison yield benchmark portfolios of similar average investment maturity, e.g. 90 Day United States Treasury Bill, 6 Month United States Treasury Bill, or the State Treasurer Local Agency Investment Fund (LAIF). In the event the Council authorizes investments in other securities as provided for in Section 4.02.070(A)(B), the Treasurer shall identify whether an alternative benchmark shall be presented to the City Council for approval.
[History: Formerly § 1.03.030; Adopted Res 2000-75, 12/13/2000; Res 2013-23, 7/11/13; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18]
Division 2: Operations

4.02.040 Delegation of Authority and Internal Controls
A) As authorized in Government Code Section 53607, the City Council delegates the authority to invest funds of the Town to the Treasurer and/or any duly appointed Deputy Treasurer. The Treasurer and any duly appointed Deputy Town Treasurer shall make all investment decisions and transactions in accordance with State law and this investment policy. The City Manager is designated as the City Treasurer, in accordance with a Resolution adopted by the City Council. The City Treasurer has designated the Chief of Police and Administrative Services Director as Deputy Town Treasurers for the purpose of carrying out investment transactions, at such times as the Treasurer is unavailable.

B) Pursuant to California Government Code Section 53607, the delegation of the Treasurer and appointed Deputy Treasurer, shall be for a one -year period or until the delegation of authority is revoked or expires. In accordance with the law, the City Council may renew the authority each year as part of an annual review of this policy.

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C) The Treasurer shall oversee the implementation of internal controls to regulate investment and banking activities and establish procedures for the operation of the investment program.

D) The Town recognizes that in a diversified portfolio, occasional measured losses may be inevitable and must be considered within the context of the overall portfolio's return and the cash flow requirements of the Town. Authorized individuals acting in accordance with written procedures and the investment policy and exercising due diligence shall be relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion and appropriate action is taken to control adverse developments.

E) The Town may choose to engage the services of one or more external investment managers to assist in the management of the Town’s investment portfolio in a manner consistent with the Town’s objectives. A separate approval action by the City Council shall be taken at a public meeting prior to the use of an external manager. Once approved said external manager may be granted discretion to purchase and sell investment securities in accordance with this investment policy. Such managers must be registered under the Investment Advisors Act of 1940, and operate in accordance with applicable laws and regulations.

F) Periodically as deemed appropriate by the City Manager and/or the City Council an independent analysis by an external auditor shall be conducted to review internal controls, account activity and compliance with policies and procedures. [
History: Formerly § 1.03.040; Adopted Res 2000-75, 12/13/2000; Amended Res 2011- 05, 3/9/2011; Res 2013-23, 7/11/13; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18]

4.02.050 Prudence
A) Pursuant to California Government Code Section 53600.3, all persons authorized to make investment decisions on behalf of the City are trustees and therefore fiduciaries subject to the prudent investor standard: "When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the agency." For local agency funds invested in the county treasury, the county treasurer serves as a fiduciary and is subject to the prudent investor standard.
[History: Formerly § 1.03.050; Adopted Res 2000-75, 12/13/2000; Res 2007-51, 9/12/07; Res 2013-23, 7/11/13; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18]
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4.02.060 Authorized and Suitable Investments
This policy restricts the Town to only invest in the security types below, which do not exceed the authorized investments found in California Government Code sections 53601 and 53651:

A) U. S. Government United States Treasury Bills, Notes, and Bonds backed by the full faith and credit of the United States Government are pledged for the payment of principal and interest. There is no limitation as to the percentage of the portfolio that may be invested in this category. The maximum maturity of these securities is five years.

B) U.S. Government Sponsored Enterprise Debt (GSEs) (known as Agencies) Obligations, participations, or other instruments of, or issued by, a federal agency or U.

S. Government sponsored enterprise. Such agencies include but are not limited to:

Federal National Mortgage Association (FNMA); Federal Home Loan Bank (FHLB); Government National Mortgage Association (GNMA); Community Development Corporation (CDC), Small Business Association (SBA), Tennessee Valley Authority (TVA) and Federal Home Loan Mortgage Corporation (FHLMC). The Town shall limit to no more than 20% of the portfolio that may be invested in this category. The maximum maturity for agency securities is five years.

C) Bankers’ Acceptances (BAs) Bankers' acceptances, otherwise known as bills of exchange or time drafts, that are drawn on and accepted by a commercial bank.

Bankers' acceptances must be secured by the irrevocable primary obligation of the accepting domestic bank. Purchasers are limited to issuers whose short -term debt is rated "A-1" or higher, or the equivalent, by a Nationally Recognized Statistical - Rating Organization (NRSRO). Bankers' acceptances cannot exceed a maturity of 180 days. A maximum of 20 percent of the portfolio may be invested in this category. The amount invested in bankers' acceptances with any one financial institution in combination with any other debt from that financial institution shall not exceed 20 percent of the portfolio.

D) Commercial Paper Unsecured promissory notes issued to finance short term credit needs. The entity that issues the commercial paper shall meet all of the following conditions in either paragraph (1) or paragraph (2):
(1) The entity meets the following criteria: (i) Is organized and operating in the United States as a general corporation. (ii) Has total assets in excess of five hundred million dollars ($500,000,000). (iii) Has debt other than commercial paper, if any, that is rated in a rating category of "A" or its equivalent or higher by a nationally recognized statistical-rating organization.
(2) The entity meets the following criteria: (i) Is organized within the United States as a special purpose corporation, trust, or limited liability company. (ii) Has program wide credit enhancements including, but not limited to, over collateralization, letters of credit, or surety bond. (iii) Has commercial paper that is rated "A -1" or higher, or the equivalent, by a nationally recognized statistical-rating organization.

Eligible commercial paper shall have a maximum maturity of 270 days or less and not represent more than 10 percent of the outstanding paper of an issuing corporation. A maximum of 15 percent of the portfolio may be invested in this category. The amount Investment Policy
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invested in commercial paper of any one issuer in combination with any other debt from that issuer shall not exceed 10 percent of the portfolio.

E) Negotiable Certificates of Deposit (NCDs) Investments issued by a nationally or state chartered bank, a savings association or a federal association, a state or federal credit union, or by a state -licensed branch of a foreign bank. Allowable NCDs are issued by a nationally or state chartered bank or savings and loan association, or by a state licensed branch of a foreign bank. Negotiable certificates of deposit (NCDs) purchases are limited to institutions which have long -term debt rated "A" or better and/or have short -term debt rated at least "A -1" or higher, or the equivalent by a NRSRO. A maximum of 20 percent of the portfolio may be invested in this category.

The amount invested in NCDs with any one financial institution in combination with any other debt from that financial institution shall not exceed 15 percent of the portfolio. The maximum maturity of these securities is five years.

F) Certificates of Deposits.
(1) Negotiable CDs (NCDs): Investments issued by a nationally or state chartered bank, a savings association or a federal association, a state or federal credit union, or by a state-licensed branch of a foreign bank. Allowable NCDs are issued by a nationally or state chartered bank or savings and loan association, or by a state licensed branch of a foreign bank. Negotiable certificates of deposit (NCDs) purchases are limited to institutions which have long -term debt rated “A” or better and/or have short -term debt rated at least “A-1” or higher, or the equivalent by a NRSRO. A maximum of 20 percent of the portfolio may be invested in this category. The amount invested n NCDs with any one financial institution in combination with any other debt from that financial institution shall not exceed 15 percent of the portfolio. The maximum maturity of these securities is five years.
(2) Time CDs (TCDs): Funds placed with commercial banks and savings and loans.

The amount on deposit shall not exceed the shareholder’s equity in the financial institution. To be eligible for purchase, the financial institution must have received a minimum overall satisfactory rating for meeting the credit needs of California Communities in its most recent evaluation, as provided Government Code Section 53635.2. TCs are required to be collateralized as specified under Government Code Section 53630 et. seq. The Treasurer, at his discretion, may waive the collateralization requirements for any portion that is covered by federal (FDIC) insurance. The Town shall have a signed agreement with the depository per Government Code Section 53649.

There is no limitation as to the percentage of the portfolio that may be invested in this category. The maximum maturity of these securities may not exceed five (5) years. (3) Bank/Brokered CDs (BCDs): Similar to TCDs, above. BCDs are fully insured by either FDIC or NCUSIF, which is limited to $250,000 per purchase. The amount invested in NCDs with any one financial institution in combination with any other debt from that financial institution shall not exceed 30 percent of the portfolio. The maximum maturity of these securities may not exceed five (5) years.

G) Local Agency Investment Fund (LAIF) LAIF was created in the California State Treasury by California Government Code section 16429.1. LAIF holds local government Investment Policy
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funds in trust in a state investment pool in order to provide safety, liquidity and the benefits of the investment pool yield for local government entities invested in LAIF.

The Town may invest up to the maximum as permitted by LAIF.

H) San Mateo County Investment Pool (SMCIP) The San Mateo County Treasurer accepts voluntary deposits from agencies not mandated to utilize its treasury services.

The Fund may impose withdrawal and / or deposit limits, which will be considered as part of the overall Town portfolio.

I) Money Market Funds . Shares of beneficial interest issued by diversified management companies that are money market funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C.

Sec. 80a -I and following). The company shall have met either of the following criteria: (A) Attained the highest ranking or the highest letter and numerical rating provided by not less than two NRSROs. (B) Retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years' experience managing money market mutual funds with assets under management in excess of five hundred million dollars ($500,000,000). A maximum of 20 percent of the portfolio may be invested in this category with a maximum of 10 percent exposure to any one fund. For due diligence, the Treasurer shall maintain access to a copy of the current Prospectus for any mutual fund in which the Town has funds invested.

J) Medium Term Notes (MTNs) Medium term notes as defined in California Government Code Section 53601(k) are unsecured, corporate and depository institution debt obligations. Allowable medium -term notes must be issued by corporations organized and operating within the United States (U.S.) or by depository institutions licensed by the U.S. or any state and operating within the U.S. MTNs must be rated in a rating category of “A” or its equivalent or better by Moody’s or Standard and Poor’s. A maximum of 15 percent of the City's portfolio may be invested in this category and a maximum of 5 percent with any one issuer. The maximum maturity of these securities is five years.
[
History: Formerly § 1.03.110; Adopted Res 2000-75, 12/13/2000; Amended Res 2011- 05, 3/9/2011; Res 2013-23, 7/11/13; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18; Res 2019-40, 7/24/19]

4.02.070 Summary of Investment Parameters and Additional Limits

Investment Type Portfolio Limits Maximum
Maturity
US Treasury Bills, Notes & Bonds None 5 Years
US Government Sponsored Agencies* No more than 20% 5 Years Bankers Acceptances* No more than 20% 180 Days
Commercial Paper* No more than 15% 270 Days
Negotiable CDs* No more than 20% 5 Years
Time CDs None 5 Years
Bank/Brokered CDs No more than 30% 5 Years
LAIF Program limits max deposit to $75 N/A
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million
San Mateo County Investment Pool
(SMCIP)
No Max- Minimum program
deposit $250,000 N/A
Money Market Funds* No more than 20% N/A
Medium Term Notes* No more than 15% 5 Years
The in
vestment types denoted with a “*” in the Table above, have further limitations under this policy as follows:

A) Prior to investing in these types require a separate authorization by a majority of the City Council prior to the purchase.

B) If authorized, the aggregate of these investment types shall not exceed 40% of the total portfolio.
[History: Formerly § 1.03.115; Adopted Res 2011-05, 3/9/2011; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18; Res 2019-40, 7/24/19]

4.02.080 Authorized Investments for Bond and Other Debt Proceeds Bond and other debt proceeds shall be invested in securities permitted by the applicable financing documents. If the documents are silent as to the permitted investments, proceeds will be invested in securities permitted by this Policy. Notwithstanding the provisions of Policy, the percentage or dollar portfolio limitations listed in elsewhere in this Policy do not apply to proceeds from a debt issuance. In addition to the securities listed in Section 4.02.070 above, proceeds may be invested in structured investment products if approved by the Treasurer. [History: Formerly § 1.03.120; Adopted Res 2000-75, 12/13/2000; Amended Res 2003-34, 6/25/2003 Res 2008-62, 11/12/2008; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18]

4.02.090 Unauthorized Investments
A) Any investment in a security not specifically listed as an Authorized and Suitable Investment above, but otherwise permitted by the Government Code, is prohibited without the prior approval of the City Council.

B) Section 53601.6 of the Government Code specifically disallows investments in inverse floaters, range notes, or interest - only strips that are derived from a pool of mortgages.

C) No direct investment shall be made in repurchase agreements, although it is recognized that they may be a component of a diversified professionally managed pool that is included in the portfolio.

D) As specified in California Government Code Section 53601, the investment of funds that mature in excess of five years are not generally allowed. Placement of such investments can only occur if the City Council expressly authorize the investment as part Investment Policy
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of a specific program; and the transaction cannot occur until three months have lapsed from the date of authorization is granted.
[History: Formerly § 1.03.125; Adopted Res. 2003-34, 6/25/03; Amended Res. 2011-05, 3/9/2011; Res 2013-23, 7/11/13; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18]

4.02.100 Safekeeping and Custody
If purchases of securities are authorized as described in section 4.02.070(A)(B), then all security transactions entered into by the Town shall be conducted on a delivery versus payment (DVP) basis as evidenced by safekeeping receipts in the Town’s name. The investment securities of the Town shall be held by a third -party custodian according to established safekeeping procedures, as established by the Town Treasurer.
[History: Formerly § 1.03.130; Adopted Res 2000-75, 12/13/2000; Amended by Res 2003-34, 6/25/03; Res 2013-23, 7/11/13; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18]

4.02.110 Ethics and Avoidance of Conflict of Interest
A) All participants in the investment process shall act as custodians of public funds.

Investment officials shall recognize that the investment portfolio is subject to public review and evaluation. The overall program shall be designed and managed with a degree of professionalism that is worthy of public trust.

B) In a diversified portfolio it must be recognized that occasional measured losses are inevitable, and must be considered in the context of the overall portfolio's investment return, provided that adequate diversification has been implemented.

C) Elected officials and employees of the Town involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program, or which could impair their ability to make impartial decisions under the Political Reform Act and Government Code Section 1090 et seq. Elected officials and employees shall disclose to the City Manager any material interests in financial institutions that conduct business with the Town, and they shall further disclose any personal investment position or financial asset that could be related to the performance of the Town's investment program.

D) Elected officials and employees shall subordinate their personal investment transactions to those of the Town particularly with regard to the time of purchases and sales.

E) Any firm proposing to provide any type of investment service to the Town shall acknowledge their familiarity with the provisions of the Political Reform Act, Government Code Section 81000 et seq. and the provisions limiting contractual conflicts of interest under Government Code Section 1090 et seq. Any firm proposing to provide any type of investment service to the City shall also acknowledge their Investment Policy
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familiarity with and agree to abide by any Federal or State law, regulation, rule or policy pertaining to or limiting campaign contributions by such firms, their employees, spouses or agents.

F) All persons, firms, broker/ dealers, financial institutions and advisors providing investment services or bond issue assistance shall disclose to the Treasurer all fee sharing, fee -splitting and commission arrangements with other entities or persons prior to the Town agreeing to buy an investment or issue bonds. [History: Formerly § 1.03.135; Adopted Res 2013-23, 7/11/13; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18]

4.02.120 Authorized Financial Dealers and Institutions
If authorized to purchase securities as described in 4.02.070(A)(B), the Treasurer shall direct Staff to create and maintain a list of approved security broker/dealers selected for credit worthiness who are authorized to provide investment services in the State of California as authorized by California Government Code Section 53601.5. These may include primary dealers or such dealers that qualify under Securities and Exchange Commission (SEC) Rule 15C3- 1 (uniform net capital rule) and that meet the standards used in evaluating broker/dealers and banks in the Town's Request for Information form.

No public deposit shall be made except in a qualified public depository as established under State Statute.

All financial institutions and broker/dealers who desire to become qualified bidders for investment transactions must complete the Request for Information form, provide written certification of having read and agreed to abide by the Town’s Investment Policy and depository contracts and provide the following information:
• Audited financial statements, proof of State registration and trading resolution. • Proof of National Association of Securities Dealers (NASD) certification.

The Town Treasurer, or designees, shall consider the credit worthiness of institutions. The following guidelines are recommended:
• Institution to be located in California, with total assets of at least $100 million. • Net worth of at least 3% of assets and profitable in most recent financial statement.
• Foreclosure/delinquencies at or below 2% of assets and in business for 5 years. • Meet federal regulatory capital requirements.

A competitive bid process will be used to place investment purchases based upon investment offerings provided by the Town’s list of authorized investment brokers. An Investment Policy
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annual review of the financial condition and registrations of qualified bidders may be conducted by the Town Treasurer or designee. As part of any review performed, a current audited financial statement will be obtained for those financial institutions and brokers/dealers subject to review.

The first $250,000 of any monies deposited with a bank or credit union must be guaranteed by the Federal Deposit Insurance Corporation (FDIC), the Federal Savings and Loan Insurance Corporation (FSLIC) or the National Credit Union Share Insurance Fund (NCUSIF). Banks, savings and loan associations, and credit unions must be able to collateralize any deposits over $250,000 (see Section 4.02.150). [
History: Formerly § 1.03.135; Adopted Res 2011-05, 3/9/2011; Res 2013-23, 7/11/13; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18]

4.02.130 Collateralization
Bank Deposits: Under provisions of the Government Code, California banks and savings and loan associations are required to secure the Town’s deposits by pledging government securities as collateral.

Certificates of Deposit (non-Negotiable): The City Treasurer, at his/her discretion may waive the collateral requirement for deposits up to the maximum dollar amount which are covered by the Federal Deposit Insurance Corporation or National Credit Union Share Insurance Fund.

Collateral pledged with a U.S. Treasury Bill or Note must be at least 110% of the face value of the investment. Collateral pledged with first mortgages must be at least 150% of the face value of the investment. The right of collateral substitution may be granted by the Town.

Collateral will always be held by an independent third party with whom the financial institution has a current custodial agreement. These parties are limited to only those trust companies and trust departments, or the Federal Home Loan Bank of San Francisco, which have been approved by the California State Superintendent of Banks. [California Government Code Section 53656(b)]
[
History: Formerly § 1.03.140; Adopted Res 2000-75, 12/13/2000; Amended Res 2011- 05, 3/9/2011; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18; Res 2019-40, 7/24/19]

4.02.140 Review and Reporting on Investments
The Treasurer shall prepare a report to the City Council not less than semi -annually which, will be made available each year within 60 days following December 31st and June 30th. The semi-annual report shall be presented at a subsequent regularly scheduled City Council Meeting. The report shall inclusive a monthly listing of investment transactions. At a minimum the report shall include the following information based on the type of investments held in the portfolio:

A) Report Contents when Portfolio is Limited to Bank and Public Agency Investment Pool Accounts:

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a. Report the beginning and ending balance by quarter;
b. Provide a separate breakdown of the quarterly balance based on the Investment Pool (LAIF, SMCIF, etc).
c. Provide net Deposits and Withdrawals for the period
d. Identify total interest for the quarter.
e. Provide the interest rates earned including a cumulative weighted average.

B) Additional Report Contents When Portfolio Includes Securities Authorized Under Section

4.02.070 of this Policy:
a. Type of Investment
b. Issuer
c. Purchase Date
d. Date of Maturity (Call Date if Applicable)
e. Par an
d dollar amount invested
f. Effective interest rate
g. Current Market Value as of the date of the report
h. A list of investment transactions.
i. A statement of compliance with the investment policy j. Portfolio earnings rate.

The report shall state compliance of the portfolio with the Town’s investment policy, or the manner in which the portfolio is not in compliance.

The report shall include a statement denoting the ability of the Town to meet its expenditure requirements for the next six months, or provide an explanation as to why sufficient money shall, or may, not be available.
[History: Formerly § 1.03.150; Adopted Res 2000-75, 12/13/2000; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18]

4.02.150 Policy History and Annual Review
This policy and procedure amends and restates Section 4.02 of the Administrative Code previously adopted February 2014. This revised policy was adopted on November 9, 2016 (Resolution 2016 -50) and on October 24, 2018 (Resolution 2018- 45) by formal action of the City Council at its regular meeting. This policy is reviewed annually. [
History: Formerly § 1.03.160; Adopted Res 2000-75, 12/13/2000; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18; Res 2019-40, 7/24/19] Investment Policy
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Division 3: Miscellaneous

4.02.160 Investment Policy Glossary
AGENCIES: Federal agency securities and/or Government-sponsored enterprises.

ASKED: The price at which securities are offered.

BANKERS’ ACCEPTANCE (BA): A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill, as well as the issuer.

BASIS POINT: One basis point is one hundredth of one percent (.01%) BENCHMARK: A comparative base for measuring the performance or risk tolerance of the investment portfolio. A benchmark should represent a close correlation to the level of risk and the average duration of the portfolio’s investments.

BID: The price offered by a buyer of securities. (When you are selling securities, you ask for a bid.) See Offer.

BOOK ENTRY: The system maintained by the Federal Reserve, by which most money market securities are delivered to an investor’s custodial bank. The Federal Reserve maintains a computerized record of the ownership of these securities and records any changes in ownership corresponding to payments made over the Federal Reserve wire (delivery versus payment).

BOOK VALUE: The value at which a debt security is shown on the holder’s balance sheet.

Book value is acquisition cost less amortization of any premium or discount.

BROKER: A broker assists in the buying and selling of investments together for a commission.

CALLABLE BOND: A bond issue in which all or a part of its outstanding principal amount may be redeemed before maturity by the issuer under specified conditions CALL PRICE: The price at which an issuer may redeem a bond before maturity CERTIFICATE OF DEPOSIT (CD): A time deposit with a specific maturity evidenced by a Certificate. Large-denomination CDs are typically negotiable.

COLLATERAL: Secu rities, evidence of deposit or other property, which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies.

COMMERCIAL PAPER : Unsecured promissory notes issued to finance short term credit needs.

COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR): The official annual report for the Town. It also includes supporting schedules necessary to demonstrate compliance with Investment Policy
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finance-related legal and contractual provisions, extensive introductory material, and a detailed Statistical Section.

COUPON: (a) The annual rate of interest that a bond’s issuer promises to pay the bondholder on the bond’s face value and (b) A certificate attached to a bond evidencing interest due on a payment date.

DEALER: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account.

DEBENTURE: A bond secured only by the general credit of the issuer.

DELIVERY VERSUS PAYMENT : There are two methods of delivery of securities: delivery versus payment and delivery versus receipt. Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt for the securities.

DERIVATIVES: (1) Financial instruments whose return profile is linked to, or derived from, the movement of one or more underlying index or security, and may include a leveraging factor, or (2) financial contracts based upon notional amounts whose value is derived from an underlying index or security (interest rates, foreign exchange rates, equities or commodities).

DISCOUNT: The difference between the cost price of a security and its maturity when quoted at lower than face value. A security selling below original offering price shortly after sale also is considered to be at a discount.

DISCOUNT SECURITIES: Non-interest bearing money market instruments that are issued at a discount and redeemed at maturity for full face value, e.g., U.S. Treasury Bills.

DIVERSIFICATION: Dividing investment funds among a variety of securities offering independent returns.

FEDERAL CREDIT AGENCIES : Agencies of the Federal government set up to supply credit to various classes of institutions and individuals, e.g., banks, small business firms, students, farmers, farm cooperatives, and exporters.

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC): A federal agency that insures bank deposits, up to $250,000 per deposit.

FEDERAL FUNDS RATE: The rate of interest at which Fed funds are traded. This rate is currently pegged by the Federal Reserve through open-market operations.

FEDERAL HOME LOAN BANKS (FHLB): Government sponsored wholesale banks (currently 12 regional banks), which lend funds and provide correspondent banking services to member commercial banks, thrift institutions, credit unions and insurance companies. The mission of the FHLBs is to liquefy the housing related assets of its members who must purchase stock in their district Bank.

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FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC or Freddie Mac):

United States government sponsored corporation.

FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA): FNMA, like GNMA was chartered under the Federal National Mortgage Association Act in 1938. FNMA is a federal corporation working under the auspices of the Department of Housing and Urban Development (HUD). It is the largest single provider of residential mortgage funds in the United States. Fannie Mae, as the corporation is called, is a private stockholder -owned corporation. The corporation’s purchases include a variety of adjustable mortgages and second loans, in addition to fixed -rate mortgages. FNMA’s securities are also highly liquid and are widely accepted. FNMA assumes and guarantees that all security holders will receive timely payment of principal and interest.

FEDERAL OPEN MARKET COMMITTEE (FOMC): Consists of seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank Presidents. The President of the New York Federal Reserve Bank is a permanent member, while the other Presidents serve on a rotating basis. The Committee periodically meets to set Federal Reserve guidelines regarding purchases and sales of Government Securities in the open market as a means of influencing the volume of bank credit and money.

FEDERAL RESERVE SYSTEM: The central bank of the United States created by Congress and consisting of a seven member Board of Governors in Washington, D.C., 12 regional banks and about 5,700 commercial banks that are members of the system.

GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA or Ginnie Mae):

Securities influencing the volume of bank credit guaranteed by GNMA and issued by mortgage bankers, commercial banks, savings and loan associations, and other institutions. Security holder is protected by full faith and credit of the U.S. Government. Ginnie Mae securities are backed by the FHA, VA or FMHA mortgages. The term “pass - throughs” is often used to describe Ginnie Maes.

LIQUIDITY: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes.

LOCAL AGENCY INVESTMENT POOL (LAIF): The aggregate of all funds from political subdivisions that are placed in the custody of the State Treasurer for investment and reinvestment.

MARKET VALUE: The price at which a security is trading and could presumably be purchased or sold on a specific date.

MASTER REPURCHASE AGREEMENT: A written contract covering all future transactions between the parties to repurchase —reverse repurchase agreements that establishes each party’s rights in the transactions. A master agreement will often specify, among other things, the right of the buyer -lender to liquidate the underlying securities in the event of default by the seller borrower.

MATURITY: The date upon which the principal or stated value of an investment becomes Investment Policy
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due and payable.

MONEY MARKET: The market in which short-term debt instruments (bills, commercial paper, bankers’ acceptances, etc.) are issued and traded. Rule 2a- 7 of the Investment Company Act applies to Money Market Funds, which mandates these funds to maintain certain standards, including a 13 month maturity limit and a 90 day average maturity on investments, to help maintain a constant net asset value of $1.00.

NATIONAL ASSOCIATION OF SECURITIES DEALERS (NASD) : A self-regulatory organization (SRO) of brokers and dealers in the over the counter securities business. Its regulatory mandate includes authority over firms that distribute mutual fund shares as well as other securities.

NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATIONS (NSROs):

Credit rating agencies whose ratings are permitted to be used for regulatory purposes such as those imposed by the Securities and Exchange Commission.

NEGOTIABLE CERTIFICATE OF DEPOSIT (NCD): A large denomination certificate of deposit which can be sold in the open market prior to maturity.

OFFER: The price asked by a seller of securities. (When you are buying securities, you ask for an offer.) See Asked and Bid.

OPEN MARKET OPERATIONS: Purchases and sales of government and certain other securities in the open market by the New York Federal Reserve Bank as directed by the FOMC in order to influence the volume of money and credit in the economy. Purchases inject reserves into the bank system and stimulate growth of money and credit; sales have the opposite effect. Open market operations are the Federal Reserve’s most important and most flexible monetary policy tool.

PORTFOLIO: Collection of securities held by an investor.

PREMIUM: The amount by which the price paid for a security exceeds the security’s par value.

PRIMARY DEALER : A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers include the Securities and Exchange Commission (SEC), registered securities broker- dealers, banks, and a few unregulated firms.

PRINCIPAL: The face value or par value of a debt instrument, or the amount of capital invested in a given security.

QUALIFIED PUBLIC DEPOSITORIES : A financial institution which does not claim exemption from the payment of any sales or compensating use or ad valorem taxes under the laws of this state, which has segregated for the benefit of the commission eligible collateral having a value of not less than its maximum liability and which has been approved by the Public Deposit Protection Commission to hold public deposits.

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RATE OF RETURN : The yield obtainable on a security based on its purchase price or its current market price. This may be the amortized yield to maturity, on a bond it is the current income return.

REPURCHASE AGREEMENT (RP OR REPO) : A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. The security “buyer” in effect lends the “seller” money for the period of the agreement, and the terms of the agreement are structured to compensate him for this. Dealers use RP extensively to finance their positions. Exception: When the Federal Reserve is said to be doing RP, it is lending money that is increasing bank reserves.

SAFEKEEPING: A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank’s vaults for protection.

SECONDARY MARKET : A market made for the purchase and sale of outstanding issues following the initial distribution.

SECURITIES & EXCHANGE COMMISSION : Agency created by Congress to protect investors in securities transactions by administering securities legislation.

SETTLEMENT DATE: The date on which a trade is cleared by delivery of securities against funds.

STRUCTURED NOTES : Notes issued by Government Sponsored Enterprises (FHLB, FNMA, FHLB, etc.) and Corporations, which have imbedded options (e.g., call features, step -up coupons, floating rate coupons, derivative -based returns) into their debt structure. Their market performance is impacted by the fluctuation of interest rates, the volatility of the imbedded options and shifts in the shape of the yield curve.

TREASURY BILLS : A non -interest bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months, six months, or one year.

TREASURY BONDS : Long -term coupon -bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities of more than 10 years.

TREASURY NOTES : Medium-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities from two to 10 years.

UNIFORM NET CAPITAL RULE : Securities and Exchange Commission requirement that member firms as well as nonmember broker-dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15 to 1; also called net capital rule and net capital ratio.

Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, one reason new public issues are spread among members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash.

WEIGHTED AVERAGE MATURITY (WAM) : The average maturity of all the securities that comprise a portfolio that is typically expressed in days or years Investment Policy
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YIELD (Yield to Maturity or Yield to Call) : The rate of annual income return on an investment, expressed as a percentage. (a) income yield is obtained by dividing the current dollar income by the current market price for the security. (b) net yield or yield to maturity or call is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity or call of the bond.

YIELD CURVE : The yield on bonds, notes or bills of the same type and credit risk at a specific date for maturities up to thirty years.

ZERO COUPON SECURITY : A security that is issued at a discount and makes no periodic interest payments. The rate of return consists of a gradual accretion of the principal of the security and is payable at par upon maturity.
[
History: Formerly § 1.03.170; Adopted Res 2000-75, 12/13/2000; Amended Res 2003- 34, 6/25/2003; Res 2011-05, 3/9/2011; Res 2013-23, 7/11/13; Res 2014-07, 2/13/14; Res 2016-50, 11/9/16; Res 2018-45, 10/24/18]
[Reference: Gov’t Code § 53601]

I
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Staff Report - 2025 Adult Holiday Event Page 1 of 7

STAFF REPORT
TO: M
ayor and Members of the City Council
FROM: Angelika Abellana, Recreation Manager
VIA: Dan Barros, City Manager
MEETING DATE: April 23, 2025
SUBJECT: 2025 Adult Holiday Event

RECOMMENDATION
Staff recommends that the City Council make the following motion:

DIRECT THE CITY MANAGER TO PLAN AND COORDINATE AN ADULT HOLIDAY EVENT IN DECEMBER 2025 AND SET THE PARTICIPATION FEES FOR THE ADULT HOLIDAY PARTY AT $15 FOR ADULTS AND $10 FOR SENIORS AND DISABLED AS AUTHORIZED UNDER COLMA ADMINISTRATIVE CODE SECTION 2.01.080 ALL PURSUANT TO CEQA GUIDELINES 15301 AND 15323

BACKGROUND
The Adult Holiday Event was suspended from 2009 through 2014 due to the economic recession. From 2015 to 2019, at the direction of the City Council, the event was hosted annually at the South San Francisco Conference Center. In 2020 and 2021, the event was cancelled in response to public health concerns related to the COVID-19 pandemic. In 2022, the Adult Holiday Event resumed and was held at the Farallon Room at Skyline College. In 2023 and 2024, the event was held at the South San Francisco Conference Center.

The South San Francisco Conference Center has been an ideal location for the Adult Holiday Event for the following reasons:
• Proximity to Colma
• Capacity for 250 attendees
• Diverse and flexible menu options
• Adequate parking and transportation accommodations
• Ability to provide a quiet area
• Budget flexibility and willingness to collaborate
• Longer hours for the party
AGENDA ITEM #7
Staff Report - 2025 Adult Holiday Event Page 2 of 7 However, based on community feedback and further research, staff recommends exploring alternate venues for 2025. Staff presents three venue options for Council consideration:
• Farallon Room – Skyline College (Budget: $44,400)
• South San Francisco Conference Center (Budget: $52,100) • Dominic’s at Oyster Point (Budget: $38,600)
(See Attachment A for detailed venue comparisons.)
2024 Adult Holiday Event Re-Cap
The 2024 Adult Holiday Event was a great success, with approximately 200 residents and City staff in attendance. Staff received numerous positive comments from participants, who enjoyed a variety of offerings including hand -passed appetizers, a buffet dinner, a photo booth, DJ entertainment, and a quiet lounge area featuring hot chocolate and cookies. Enhancements to this year’s event included a prime rib carving station and a celebratory cake, both of which were well received by attendees. The venue was further elevated by beautifully arranged centerpieces that added a festive and elegant touch.

In recognition of the Town’s Centennial Year, staff also purchased commemorative Centennial flutes, which were displayed at each table and provided as keepsakes for attendees to take home.

The total cost of the event was $45,759.75—approximately $150 under budget.

ANALYSIS
Adult Holiday Event
Option 1: Farallon Room – Skyline College with a budget of $44,400 The Farallon Room at Skyline College sits cliffside in San Bruno, offering stunning views of the Pacific Ocean and the rolling hills below. This beautiful venue features floor-to-ceiling windows, two cozy fireplaces, and a semi-enclosed patio. Saturday, December 13, 2025, is currently available. A non-refundable deposit of $250 is required to reserve the date.

Cost
With similar expenses to the previous holiday event, staff estimates the cost of the event at the Farallon Room – Skyline College to be $44,400 with 180 participants. Based on 180 participants, the per person cost is $247. Please see Attachment B for the Farallon Room proposal and photos.

Staff Report - 2025 Adult Holiday Event Page 3 of 7

Item Cost
Marketing Materials (Flyers, invites, postage, etc.) $600 Food & Beverage (appetizers, buffet, desserts, cash bar and SMCCD charges)
$26,000
Decorations (centerpieces & holiday scenes-props) $1,800 Entertainment (DJ) and Photobooth $2,000
Supplies $2,000
Band (if requested by Council, but could take away seating space – if not – subtract $3,000)
$3,000
Buses $5,000
TOTAL $44,400
PRO’s
• State-of-the-art venue
• Proximity to Colma
• Ample Parking
CON’s

CON’s
• Limited to 4 hours
• Beverages must be purchased in
advance and delivered by Staff
• Cash Bar only, no credit cards
accepted. ATM not on site
• Lounge area in a lecture style
classroom
• Thermostat is not easily adjustable
• ADA Ramp to venue is not easily
accessible
• Photobooth and Buffet line not hidden
• No designated dance floor
• Limited cutlery/dishware onsite
• Maximum capacity: 180

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Staff Report - 2025 Adult Holiday Event Page 4 of 7 Option 2: South San Francisco Conference Center with a budget of $52,100 Based on the factors outlined in the Background section of this report—including its availability and demonstrated willingness to collaborate with the Town—the South San Francisco Conference Center remains a desirable venue option for the 2025 Adult Holiday Event. The Conference Center has indicated its ability to provide the same menu offered in 2024, with a modest price increase anticipated due to projected cost adjustments. The venue currently has Saturday, December 13, 2025, on hold for the Town.

Cost
Based on similar expenses to the previous holiday event, staff estimates the total cost of hosting the event at the South San Francisco Conference Center to be approximately $52,100 for 250 participants. This results in an estimated cost of $208.40 per person, which is lower than the per-person cost at the Farallon Room. For additional information, please refer to Attachment B for the 2024 proposal from the South San Francisco Conference Center.

Item Cost
Marketing Materials (Flyers, invites, postage, etc.) $600 Food & Beverage (appetizers, buffet, desserts, cash bar and SSF Conference Center charges)
$38,000
Decorations (centerpieces & holiday scenes-props) $2,500 Entertainment (DJ) and Photobooth $2,000
Supplies $1,000
Band (if requested by Council, but could take away seating space – if not – subtract $3,000)
$3,000
Buses $5,000
TOTAL $52,100
PRO’s
• Proven, reliable partner
• Extended event time (6 hours)
• Flexible dinner menu options
• Date already on hold –
Saturday, December 13, 2025

CON’s
• Repeated venue
• Slightly high pricing anticipated

----- ------
Staff Report - 2025 Adult Holiday Event Page 5 of 7 Option 3 Dominic’s at Oyster Point with a budget of $38,600 Dominic’s at Oyster Point is a waterfront venue located in South San Francisco, offering scenic views of the bay and marina. Known for its exceptional cuisine and over 34 years of experience in catering, it provides a welcoming and elegant setting for any event. The venue is currently available on Friday, December 12, 2025. A non-refundable deposit of $1,000 is required to secure the date.

Cost
Staff estimate the total cost of hosting the event at Dominic’s at Oyster Point to be approximately $38,600 for 150 participants. This results in an estimated cost of $257.33 per person. For additional details, please refer to Attachment C for the 2025 proposal from Dominic’s at Oyster Point.

Item Cost
Marketing Materials (Flyers, invites, postage, etc.) $600 Food & Beverage (appetizers, buffet, desserts, cash bar and SSF/Dominic charges)
$25,000
Decorations (centerpieces & holiday scenes-props) $1,000 Entertainment (DJ) and Photobooth $2,000
Supplies $2,000
Band (if requested by Council, but could take away seating space – if not – subtract $3,000)
$3,000
Buses $5,000
TOTAL $38,600

PRO’s
• Scenic waterfront venue
• Ample Parking
• Patio with heated lamps
• Separate bar room
• Unique ambiance; reduced need for décor.
• Patio with heat lamps

CON’s
• Friday date (Saturday not available)
• Max capacity: 150
• Bar remains open to club members
• Additional staffing fees (waiters,
carvers and bartenders)
• $110 SSF permit application fee
• No additional quiet room
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Staff Report - 2025 Adult Holiday Event Page 6 of 7

If fewer residents attend the Holiday Event at the SSF Conference Center, the overall costs would be less as well.

Alternatives

1. Choose not to host the Adult Holiday Event in 2025.

2. Save $3,000 by not including a live band.

3. Save $1,500 by reducing the number of charters provided to Colma Residents as transportation to and from the Venue.

Council Adopted Values
Approving the motion is the responsible action, allowing the Recreation Department ample time to plan and coordinate a successful Holiday Event.

ENVIRONMENTAL
The City Council’s motion to potentially direct an Adult Holiday Party in 2025 and its direction on a choice of venue is exempt from the California Environmental Quality Act (CEQA) pursuant to CEQA Guideline 15301 as both actions would make use of an existing facility with no expansion of use. It is also exempt pursuant to CEQA Guideline 15323 as any venue chosen will be used for a public gathering and CEQA Guideline 15323 exempts from environmental review any normal use of a facility for public gatherings.

FISCAL IMPACT
Depending on the venue selected, the total cost of the Adult Holiday Event is estimated to range between $38,600 and $52,100.

Sustainability Impact
The Recreation Services Department continues to align programs and events with the Town’s Climate Action Plan and Sustainability Policy by using recyclable and compostable materials at community events.

CONCLUSION
Staff seek comments, questions, and input from the City Council regarding the matters outlined in this report. The Council’s direction will help guide staff in planning event programming for the 2025-2026 fiscal year.

Considering anticipated participation and feedback, staff recommends that the City Council direct the City Manager to coordinate the Adult Holiday Event and confirm the December 13, 2025, reservation with The Farallon Room at Skyline College, South San Francisco Conference Center, or December 12, 2025, with Dominic’s at Oyster Point as the venue. ----
Staff Report - 2025 Adult Holiday Event Page 7 of 7 Additionally, due to the event’s costs and the policies governing participation fees, staff suggest that the City Council temporarily amend the fee structure for the Adult Holiday Event to ensure it remains affordable for residents.

ATTACHMENTS
A. 2025 Adult Holiday Event Venue Comparison Matrix
B. Farallon Room
C. South San Francisco Conference Center
D. Dominics at Oyster Point

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2025 Adult Holiday Event Venue Matrix
VENUE

DISTANCE

FROM COLMA AVALIBILITY CAPACTIY
LOUNGE
AREA

FOOD & BEVERAGE

RENTAL COST F&B DETAILS
STAFF

COMMENTS
TOTAL

COST RECCOMENDATION
Farallon Room
Skyline College 7 Miles Saturday
December 13, 2025
180 Maybe 26,000.00$
6:00pm-10:00pm
Includes four appetizers, one starter
salad, one bread, any three entrée
options with appropriate
accompaniments included. Hosted
Beverages, Beer, Wine and Hard
Liquor
(Cash Only)
Rent dishware for beverages.

Room has a beautiful View and
is ADA accessible.

Possibly no lounge
area/classroom.
44,400.00$
Could work for the
Town, 1 hour less
party time.. lounge
may be classroom.

Limitations on
participation.

Previous experience
- issue with
thermostat
SSF Conference Center 5 Miles Saturday
December 13, 2025 280 Yes 38,000.00$
6:00pm-11:30pm
Three Appetizers
Starter Salad, Bread & Butter
2 meat Entrees
1 Vegetable Entrée
Ice Cream Bar
Plated Dessert
Coffee Station
Beer, Wind & Hard Liquor
Good fit for the Town.

Location and room space
works. Food has lots of options.
52,100.00$
Could work for the
Town. Familiar
Venue with
increased fees.

Same Venue.

Dominics at Oyster Point 5 Miles Friday
December 12, 2025 150 No 25,000.00$ 6pm-11:30pm
New location. Less guest count.

Bar that is still open to their
members. 38,600.00$
Does not have
Saturday availability.

Could work but
Maximum capacity is
low.

ATTACHMENT A

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The Farallon room aT Skyline col lege
501(c)(3) RATE E

STIMATES
Mon-Thurs $2515 Fri-Sun $3055
Rates above include room rental, facilities room setup with available in house furniture, & custodial fees Events utilizing rental chairs / outsourced furniture subject to additional setup/reset fees Requi
red Insurance TULIP policy covering SMCCCD only (~$52.63). Client can opt out of TULIP and purchase insurance covering themselves & naming SMCCCD as additionally insured. Inquire for full details / requirements. COI must be submitted for approval no fewer than 21 days prior to event date. 8 Consecutive Hours of R ental Time
3 hours Setup // 1 hour Cleanup & Breakdown // 4 hours Event Time.

ONE additional event hour permitted for weddings, auctions, & “dry” events. Additional labor fees billed as applicable.

Daytime events end no later than 5p. Weekday evening events end no later than 10p. Saturday evening events end no later than 11p. Sunday events end no later 4p.

BAR
Alcohol (beer or wine and/or liquor) permitted only if using in-house catering services by Pacific Dining Food Service Management. No exceptions. See banquet menu for in-house catering options.

Barten
der $45 per hour (4 hr minimum: 1 hr setup, 2 hours service, 1 hour cleanup) Barback $25 per hour (4 hr minimum: 1 hr setup, 2 hours service, 1 hour cleanup) Security required at current officer rate. $380* per minimum 4 hr shift ($95/hr).

Required for the duration of alcohol service + 1 hour after event end. Additional hours billed at prorated amount. Number of officers required at discretion of SMCCD.

Wine only +$175 flat fee (ABC Permit + Admin fees)
Beer + Wine only +$175 flat fee (ABC Permit + Admin fees) Beer + Wine + Hard liquor (Saturdays ONLY) + $325 flat fee (ABC Permit + Admin fees) Corkage Client provides all alcohol, mixers, garnishes. $0.50 / drink & $3 / pre-set wine bottle fee applies.

Glassware rentals apply at cost, as needed.

With the exception of wine set on tables, alcohol will be served by on-site staff, in accordance with ABC license. Alcohol service will end no less than 30 minutes prior to agreed upon event end time.

AMENITIES
Portable bar. Lounge seating. Up to 280 black stacking chairs. 1 Podium.

Up to 25 72” round guest tables + up to 20 72” food service tables + up to 8 tall kiosk bar tables – as space allows.

Complimentary Plug & Play AV Equipment: Dual video walls + wireless mic / integrated podium mic Client responsible for laptop, HDMI cable, & computer settings / troubleshooting. AV staff not on site. Venue equipment verified functioning prior to event; venue is not liable for client tech connection issues.

Complex Audio Visual arrangements may require ITS Support: Average cost: $390 - $800. Support request requires 2 months advance notice.

Linen & upgraded chairs rented at cost thru in-house catering services. Prices vary by selection.

Parking included for Saturday + Sunday events. Daily parking permit fees applicable Mon-Fri.

F
inal guest count & payment due no later than 10 days prior to event date.

Prices & regulations subject to change with or without notice until signed contract is in force.

ATTACHMENT B

Outside Caterer / No Food Service Fees & Regulations *
*Subject to approval
10% Surcharge payable to the College (N/A for events without food service). Copy of caterer’s invoice required. $450 Event Supervisor Fee payable to Pacific Dining
$380+ Security Fee payable to SMCCCD, required for entirety of rental period. Additional hours billed as applicable.

Insurance Certificate meeting SMCCCD requirements (see sample document) Environmental Health Permit
No Kitchen Access
No Alcohol Service
Inquire for full set of regulations
*Prices & regulations subject to change with or without notice until signed contract is in force V vegetarian VG vegan GF gluten free

Banquet Menu Package
Includes four appetizers, one starter salad, bread with butter, up to 2 meat entrées & 1 vegetarian entrée.

Chef selected starch & vegetable accompaniments included. See dessert page for selections. 100 person minimum. Banquet menu orders under 100 subject to pay difference in cost / labor fees.

54.00* per person (assisted buffet) *additional charge for menu upgrades + 10.00 per person for seated service

0.75 per person wedding cake cutting fee
12% service charge will be added to food service total (prior to addition of rentals & taxes) Tax not included.

Includes water & iced tea carafes at each table for dinner service. Water & iced tea station with single- use cups after dinner.

Coffee & tea station after dinner.

Standard place settings included for parties up to 200. Includes one ea. water goblet, dinner fork, dinner knife, dessert fork, salad plate, dinner plate, cake plate (as needed). Fees associated with additional barware, China, flatware, linens/napkins, etc. will be added to final balance at the rental rate (rented as required by meal order and guest count).

Typical tableware rental $0.70 per rental item. Typical linen rental ~$17 per linen.

We are unable to offer tastings due to facility and event staffing limitations.

Hors D’Oeuvres
Choose up to 4

Classic Fresh Tomato Bruschetta V
Mozzarella and Sundried Tomato Bruschetta V
Mini Loaded Baked Potato V GF
Cocktail Shrimp with House Made Sauce GF
Coconut Shrimp with Remoulade
Coconut Chicken Skewer with Remoulade
Bacon Wrapped Jalapeño Stuffed Chicken Bite GF
Brie & Fig Jam Crostini V
Petite Baked Apricot Brie in Phyllo Cup V
Mini Beef Empanada
Caprese Skewer with Balsamic Drizzle V GF
Sesame Teriyaki Chicken Brochette
Spanakopita V
Chicken Brochette with Peanut Sauce
Cocktail Meatball (Marinara or Teriyaki)
Mini Beef Wellington with Creole Mustard
Fried Veggie Spring Roll V
Polenta Cake with Chili Garlic sauce VG GF
Miniature Samosa V
Mushroom & Cheese Tartlet V
Tarragon Deviled Egg V GF
Melon & Mozzarella Bite V GF + prosciutto, +0.80pp
Mac & Cheese Bite V
All Beef Frank n’ Blanket
Arancini with Marinara V
Hummus with Roasted Pepper & Olive Crostini* VG
*Sub Cucumber VG GF
Curried Cranberry Chickpea Radicchio Cups V GF
Petite Pizza
Sundried Tomato & Mozz V or Pesto Chicken

*Prices & regulations subject to change with or without notice until signed contract is in force V vegetarian VG vegan GF gluten free

Salads
Choose 1
Mesclun Mixed Greens Salad V GF
Grape Tomato, Bleu Cheese, Olive Oil and Balsamic Vinegar

Caprese Salad V GF
Tomato, Fresh Mozzarella, and Basil with Balsamic Reduction Drizzle

Simple Caesar Salad
Romaine Lettuce with Shredded Parmesan, Croutons, and Caesar Dressing (contains anchovies)

Beetroot Salad V GF
Red & Golden Beets, Feta, and Mustard Vinaigrette

Traditional Greek Salad V GF
Cucumber Salad with Tomato, Onion, and Feta Dressing

Mains
Choose up to 2 meat entrées & 1 vegetarian entrée

Chicken
Balsamic Roasted Airline Chicken GF
Garlic & Herb Grilled Chicken GF
Tuscan Chicken with Sundried Tomato Garlic Cream GF
Chicken Piccata
Chicken Marsala
Chicken Parmesan

Beef
Santa Maria Tri Tip
GF
Carved Roast Beef (buffet only) GF
Chimichurri Flank Steak* + 2pp GF
Filet Mignon with Demi-Glace* + 2pp GF
Filet Mignon with Brandy Peppercorn Sauce* + 2pp GF
Prime Rib with Creamy Horseradish* + 2pp GF

Vegetarian V
Butternut Squash & Spinach Lasagna
Ratatouille en Croûte
Eggplant Parmesan
Jumbo Ravioli Aglio e Olio with Spinach & Mushrooms

Seafood
Honey Cilantro Lime Salmon + 2pp GF
Coconut Crusted Tilapia topped with Mango Salsa
Cod with Cherry Tomato & Caper White Wine Sauce GF
Salmon with Creamy Lemon Dill* + 2pp GF
Cajun Blackened Catfish + 1pp GF
Herb Crusted Salmon* + 2pp GF
Trout with Lemon Caper Cream Sauce + 1pp GF
Sesame Ginger Teriyaki Salmon* + 2pp

Pork
Pork Tenderloin with Brandy Cream Sauce
GF
Herb Crusted Roasted Pork Tenderloin GF
Pesto Stuffed Pork Loin GF
Apple Stuffed Pork

Smoky Lentil Stuffed Sweet Potato VG GF
Mediterranean Chickpea Stuffed Potato VG GF
Quinoa Mélange Stuffed Mushroom GF, VG by request

Kid’s Meal Under 12 only. Minimum order 10 per choice for Buffets. 1 selection for Seated Service.

Chicken Tenders & French Fries with Ketchup Cheese Pizza r
L J
*Prices & regulations subject to change with or without notice until signed contract is in force V vegetarian VG vegan GF gluten free

Dessert
Package includes coffee & tea station and complimentary sheet cake

Premium Desserts
If upgrading to premium desserts, sheet cake no longer included

Simple Dessert Buffet + 1.50pp
A selection of brownies, lemon bars, & fresh baked cookies

Chocolate Covered Strawberries* + 2.80ea
*SEASONAL, available April – November only.

Fresh strawberries dipped in milk chocolate & white chocolate. Colored white chocolate by request.

Rice Krispie Treat Skewers + 3.25ea (min. 60)
Rice Krispie Treats dipped in milk chocolate & white chocolate, coated in sprinkles. Colored white chocolate by request.

Cake Pops + 3.00ea (min. 60 per flavor)
Chocolate with Chocolate Sprinkles & White Cake with Rainbow Sprinkles.

Mini Cupcakes + 3.50ea (available by the dozen)
Variety of gourmet cupcakes. Variety subject to limitations based on guest count.

Root Beer Floats + 4.50pp (includes glass Irish coffee mug & spoon rentals) Mug Root Beer with Vanilla ice cream scooped by Pacific Dining staff in a 10 oz Irish Coffee Mug

Ice Cream Sundae Bar + 4.75pp (includes glass sorbet cup & teaspoon rentals) Up to 3 ice cream flavors scooped by Pacific Dining staff, followed by a variety self-serve toppings (# of ice cream flavors available dependent on guest count)

Individual 3” Cakes + 8.50pp & up
Seated Service Only. Inquire for flavors & minimums.

Petite Dessert Display + 6.50pp
Sample Assortment
Macarons
Petite Cream Puffs
Mini Tart Variety
Mini Cheesecakes
Petits Fours
Lemon Bars
Gourmet Brownies
Fresh Baked Cookies
Chocolate Covered Strawberries

Client supplied desserts permitted pending approval. Additional charge may apply.

Dessert selection may incur additional flatware and/or China rentals.

Standing Reception
Á LA CARTE APPETIZER MENU
Ceramic wares and/or Passed Appetizers. Passed Appetizers subject to TBD additional fees for labor.

SKEWERS
Coconut Chicken Skewers with Chipotle Remoulade 3 .10ea Sesame Teriyaki Chicken Brochette 3.10ea
Caprese Skewers V GF 2.95ea
Pesto Antipasto Skewer V GF 2.95ea
Grilled Veggie Brochette VG GF 2.85ea
Teriyaki Beef Satay 3.15ea
Thai Peanut Satay (beef or chicken) 3.10ea
Cheesy Bacon Wrapped Jalapeño Chicken Bites GF 3.25ea
Grilled Kielbasa & Pineapple GF 2 .60ea
Fruit Brochette VG GF 3.10ea
Melon & Mozzarella Bite V GF + prosciutto, +0.80pp
Bacon Wrapped Dates GF
Bacon Wrapped Stuffed Jalapeño GF

CROSTINI
Brie & Fig Jam Crostini
V 2.80ea
Classic Fresh Tomato Bruschetta V 2.75ea
Mozzarella & Sundried Tomato Bruschetta V 2.75ea
Smoky Eggplant Crostini VG 2.80ea
Hummus with Roasted Pepper & Olive Crostini* VG 2.80ea *Sub Cucumber Round VG GF

COCKTAIL MEATBALLS 1.55ea
Swedish , Marinara, Teriyaki, Sweet n’ Sour

SMALL BITES
Loaded Baby Baked Potato
V GF 2.80ea
Petite Baked Apricot Brie in Phyllo Cup V 2.55ea
Cocktail Shrimp with House-Made Sauce GF 3.95ea
Coconut Shrimp with Chipotle Remoulade 3.95ea
Mini Beef Wellington with Creole Mustard 3.85ea
Marguerite Petite Pizza Slices V 2 .15ea
Pesto Chicken Petite Pizza Slices 2.15ea
Flaky Mushroom & Cheese Tartlet V 2.45ea
Tarragon Deviled Egg V GF 1.90ea
Spanakopita V 2.55ea
Miniature Quiches V 2.15ea
Mini Beef Empanadas 2.85ea
Fried Veggie Spring Rolls with Sweet n’ Sour V 1.70ea
Polenta Cake with Chili Garlic Sauce VG GF 2 .10ea
Mini Samosas with Mango Chutney V (2 week notice) 1. 80ea Mac & Cheese Bite V 1.80ea
All Beef Frank n’ Blanket 1.70ea
Arancini with Marinara V 2.25ea
Boneless Chicken Wings (Buffalo or BBQ) 1.70ea

SLIDERS (min. order of 75 per slider type) 3.00ea
Cheeseburger with Ketchup & Mustard
Chipotle Crispy Chicken Slider
Grilled Chicken Slider with Honey Mustard
Buffalo Chicken with Bleu Cheese Sauce
Roasted Turkey with Cranberry Sauce & Stuffing
BBQ Pulled Pork or Chicken
Pineapple Teriyaki Burger
Garden Burger
V

SAMMIES
Mini Artisan Sandwich Assortment (2 halves) 5.95ea
Pinwheels 2 .00ea

DISPLAYS
Fruit Display
VG GF 3.95pp
Grilled Vegetable Platter VG GF 4 .05pp
Vegetable Crudite V GF 3 .00pp
Domestic Cubed Cheese & Crackers V 3.00pp

DESSERTS
Freshly Baked Cookies 1.55ea
Gluten Free Chocolate Chip Cookies (min. 20) 2.70ea
Gourmet Brownies 2.05ea
Lemon Bars (min. 2 dozen) 2.50ea
Chocolate Covered Strawberries (seasonal) 2.80ea
Eclairs (min. 2 dozen) 3.50ea
Mini Cream Puffs 1.15ea
Cupcakes (by the dozen) 4.25ea
Mini Cupcakes (by the dozen) 2.95ea
Mini Cheesecake Assortment 1.85ea
Cake Station (by 48 pieces / half sheet) $125 per half sheet Strawberry Shortcake, Chocolate, Lemon, Tuxedo Truffle Mousse

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Event Name: Town of Colma 2025 Holiday Party
Contact: Ms.Angelika Abellana
Email: [email protected]
Phone: 650-985-5682
Plated Dinner (Option 1) With Ice Cream Bar
Event Estimate Cost Saturday, December 13, 2025

ITEM PRICE QUANTITY TOTAL
Dinner Buffet Dessert and Appetizers included per person $80.00 200 $16,000.00 Hot Chocolate and Cookies package per person $28.00 30 $840.00 Ice Cream Bar per person $14.00 200 $2,800.00
Food and Beverage Subtotal $19,640.00
25% Banquet Service Charge $4,910.00
Subtotal $24,550.00

9.875% California State Sales Tax $2,424.31
Food and Beverage Total $26,974.31
Food and Beverage Minimum is $20,000.00 not including
Service Charge, Sales Tax and Labor Fees $0.00
Room Rent (Salons A-E & Baden A) $2,750.00 1 $2,750.00
White Floor-length Linen (subject to change) $16.80 20 $336.00 DJ Electrical Power Package Fee $300.00 1 $300.00
Dance Floor (24'X24') $448.00 1 $448.00
Bartender Fee/ Bar Set up fee per bar $300.00 2 $600.00 Insurance *Rate subject to change (client to provide own COI) $260.00 0 $0.00 Security fee per Police Officer ($178.00/hr.6.5
hrs.scheduled)*Rate subject to change $178.00 6.5 $1,157.00 Refundable cleaning deposit fee (minimum/subject to change) $1,000.00 1 $1,000.00 Total SSFCC Charges $6,591.00
TOTAL $33,565.31

ATTACHMENT C

SOUTH SAN FRANCISCO

CONFERENCE CENTER

FINAL INVOICE

255 South Airport Boulevard | South San Francisco | California | 94080 t: 650-877-8787 | f: 650-877-5356
ssfconf.com
Initials: ____

Page 1 of 2 ends

Event Name: Town of Colma Holiday Party 2024

Event ID: 5565-1

Invoice #: 23-13528

13 January 2025
Town of Colma
1198 El Camino Real
Colma, California 94014

Summary:

CHARGES
Charges Catering Service
Charge
(25 %)
CA State Sales
Tax (9.875%)
Total
Room Rental $2,750.00 $0.00 $0.00 $2,750.00
Food & Beverage $22,410.00 $5,602.50 $2,766.23 $30,778.73 Food & Beverage
Labor
$600.00 $0.00 $0.00 $600.00
Event Services $798.00 $0.00 $0.00 $798.00
Event Security $1,137.50 $0.00 $0.00 $1,137.50
Totals $27,695.50 $5,602.50 $2,766.23 $36,064.23
Payments Received ($36,064.23)
Balance Due $0.00

Payments:

Payment Date Amount Payment Method Payment Type Description 01/13/2025 $36,064.23 Check Final Payment Town of Colma Check # 59738
Check Date:
01/10/2025

SOUTH SAN FRANCISCO

CONFERENCE CENTER

Initials: ____

Page 2 of 2 ends

Details:

Saturday, December 14, 2024 - 5:00pm-11:55pm - Banquet
Description Qty Price Total
Room Rental 1 $2,000.00 $2,000.00
Dance Floor, Individual Piece 64 $7.00 $448.00
15 AMP Wall or Floor Outlet Access 6 $50.00 $300.00
SSF Police Officer (6.50 hours) 1 $175.00 $1,137.50
Bartender 2 $300.00 $600.00
Dinner Buffet including Appetizers and Desserts 215 $75.00 $16,125.00 Assorted Ice Cream Bar 215 $9.00 $1,935.00
Corkage Fee per opened bottle 24 $10.00 $240.00
Prime Rib Carving Station 215 $12.00 $2,580.00
Hosted Soft Bar Revenue 1 $840.00 $840.00

Saturday, December 14, 2024 - 5:00pm-11:55pm - Break Room Description Qty Price Total
Room Rental 1 $750.00 $750.00
Late PM Break 30 $23.00 $690.00

Saturday, December 14, 2024 - 5:00pm-11:55pm - Banquet
Description Qty Price Total
Power at to Client Photobooth Setup (Per
Photobooth/Per Day)
1 $50.00 $50.00

Total Amount Due Upon Request of Service. 1.5% Interest Charge Per Month Past Due.

For more information or assistance regarding this invoice, contact Katie Leung, Chief Financial Officer, 650.877.3994 or [email protected]

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Oyster Point
General Rental Information
Included in the per person price are the following items:
• Room Rental - 5 hours starting from the time your guests arrive, plus an additional hour and a half access time for vendors and decorations. Time frames are as follows:

Monday-Friday: 6 am – 4 pm (4hr time frames) or 6 pm – 11 pm Saturday & Sunday: 11 am – 4 pm or 6 pm – 11 pm
* For “Sophisticated Lux ury” events are 10 am – 4 pm or 6 pm - Midnight • Tableware - Complete table service (table linens, glassware, dinner and silverware) is provided. • Cutting and serving of cake – Cake will be cut and served on china plates at no additional charge. • Tables are set with white or ivory cloths and choice of napkin colors to accent your theme. • Ample free parking.

Service & Labor Fees
Dominic’s at Oyster Point will provide service staff for your event. (1 waiter per every 50 guests) Should you request any additional staff, those services will be charged at the following rates: Waiter: $350.00, Carver $350.00, Bartender $200 • Banquet Room: A $5 00 room set-up fee Monday – Thursday, per time frame & a -$1,000 room set-up fee Friday, Saturday, & Sunday, per time frame.
• Bar: $200 bartender fee per time frame for any party requiring the use the bar and/or Bartender.

Payment Requirements
Your ﬁnal menu selection, linen colors and details are required minimum (2) weeks prior to the function. A ﬁnal guest count and final payment are required one (1) week prior to the function. Your ﬁnal amount due will be based on your ﬁnal count and/or guest guarantee, plus service charge and sales tax, less deposits and any additional pre-payments. Please have final payment in the form of a cashier’s check or cash. Processing fees will apply if paying with credit card or ACH. Dominic’s at Oyster Point reserves the right to cancel a banquet if payment is not received one week prior to the event or for misrepresentation.

Cancellation Policy
Should you cancel your event less than six (6) weeks prior to your event date, 50% of the estimated balance is due and payable.

Dominic’s at Oyster Point 911 Marina Boulevard, South San Francisco, CA 94080 Telephone: (650) 589-1096
Email: [email protected] | Website: dominicsop.com

ATTACHMENT D
Oyster Point

Additional Information
• A $1,000.00 non-refundable deposit is required to hold the room and will be credited to your ﬁnal bill • There will be an additional 24% service charge and Current California State Sales Tax added to the ﬁnal bill. Present state law requires that sales tax be based on the prices per person after the service charge has been added. • No outside food or beverages are allowed on the premises without Dominic’s consent. • Dominic’s will not be responsible for any food taken off the premises. • Food sales and guest minimum will vary depending on the day, date and time frame is booked. • Dominic’s at Oyster Point reserves the right to refuse service to anyone.

SSF Special use permit and Security

Every event in the City of South San Francisco with more than 75 guests is required to apply for a special used permit.

Dominic’s at Oyster Point will provide and submit the application on your behalf to the South San Francisco Police Department.

There is a nonrefundable $110 application fee payable upfront to Dominic’s at Oyster Point. South San Francisco Police department will determine if your event requires a private security guard. Dominic’s at Oyster Point will hire private security for the duration of your event and it will be invoiced to you at $100 per-hour per-guard.

Guest and Food Sales Minimums

Dominic’s at Oyster Point has two minimums per timeframe, a guest minimum and a food sales minimum. Our minimums are:

50 guest and $2500 in food sales on Monday through Friday per every four-hour timeframe ending no later than 4 PM.

50 guest and $3000 in food sales on Monday through Thursday from 6 PM to 11 PM.

65 guest and $4000 in food sales on Fridays and Sundays from 6 PM to 11 PM.

65 guest and $4000 in food sales on Saturdays and Sundays from 11 AM to 4 PM.

75 guest and $5000 in food sales on Saturdays from 6 PM to 11 PM.

Minimums are based on adult prices.

Dominic’s at Oyster Point 911 Marina Boulevard, South San Francisco, CA 94080 Telephone: (650) 589-1096
Email: [email protected] | Website: dominicsop.com

A 24% service charge and current California state sales tax will be added to final bill Dominic’s at Oyster Point

Classic Charm

Your Event Package Includes
Room and Bar Fees
Cake Cutting Service
Gift Table, Cake Table and Guestbook Table
Complimentary Parking
Fresh Fruit Punch and Lemonade Bowls throughout Your Event Regular and Decaffeinated Coffee & Tea
Choice of Chiavari Chairs (silver, gold, black or clear) Choice of Full Length Linens to Accent Your Party Theme Hurricane Lamps with Candle Centerpieces & Round Beveled Mirror Tiles

Reception
Hors D’oeuvres (Please select two (2) from Our List)

Dinner
Choice of Sit-down or Buffet

Sit-down
Salad (Please select one (1) from Our List)
Entrée (Please select (3) from Our List)

-OR-

Buffet
Cold Hot
Rolls & Butter Assorted Fresh Mixed Vegetables Caesar Salad Penne Dominico
House Salad Vermicelli Rice
Waldorf Salad Chicken Toscano
Fresh Fruit Display Stuffed Petrale Sole Roasted Vegetable Pasta Salad Roast Beef Au-Jus Mozzarella, Cucumber and Tomato Salad

Dessert
Choice of One of Our Cakes, Individual Dessert or Assorted Dessert Bar $77 Per Guest

A 24% service charge and current California state sales tax will be added to final bill Dominic’s at Oyster Point

Stylish Flair

Reception
Hors D’oeuvres (Please select three (3) from Our List)
Hosted Premium Bar for the First Hour and a Half

Dinner
Choice of Sit-down or Buffet

Sit-down
Salad (Please select one (1) from Our List)
Entrée (Please select (3) from Our List)

-OR-

Dessert
Choice of One of Our Cakes, Individual Dessert or Assorted Dessert Bar $93 Per Guest

A 24% service charge and current California state sales tax will be added to final bill Dominic’s at Oyster Point

Exquisite Elegance

Reception
Hors D’oeuvres (Please select four (4) from Our List)
Hosted Premium Bar For First Two Hours

Dinner
Choice of Sit-down or Buffet

Sit-down
Salad (Please select one (1) from Our List)
Seated Appetizer Course (Please select one (1) from Our List) Entrée (Please select (3) from Our List)

-OR-

Dessert
Choice of One of Our Cakes, Individual Dessert or Assorted Dessert Bar Last Call
Assorted Cold Cuts, Rolls, Homemade Cookies, Chocolate and Regular Milk $115 Per Guest

A 24% service charge and current California state sales tax will be added to final bill Dominic’s at Oyster Point

Sophisticated Luxury

Your Event Package Includes
An Additional Hour for Your Event
Room and Bar Fees
Cake Cutting Service
Gift Table, Cake Table and Guestbook Table
Complimentary Parking
Fresh Fruit Punch and Lemonade Bowls throughout Your Event Regular and Decaffeinated Coffee & Tea
Choice of Chiavari Chairs (silver, gold, black or clear) Choice of Full Length Linens to Accent Your Party Theme Hurricane Lamps with Candle Centerpieces & Round Beveled Mirror Tiles Up-lighting Package

Reception
Hors D’oeuvres (Please select five (5) from Our List)
Hosted Premium Bar for First Two Hours and a Half

Dinner
Choice of Sit-down or Buffet

Sit-down
Salad (Please select one (1) from Our List)
Seated Appetizer Course (Please select one (1) from Our List) Pasta Course
Entrée (Please select (3) from Our List)

-OR-

Dessert
Choice of One of Our Cakes, Individual Dessert or Assorted Dessert Bar Last Call
Assorted Cold Cuts, Rolls, Homemade Cookies, Chocolate and Regular Milk $125 Per Guest

Menu Options

A 24% service charge and current California state sales tax will be added to final bill

Dominic ’s at Oyster Point

Hors D’ Oeuvres
You may select 3 for $18
Spinach and Artichoke Dip Bites
$7.00
This favorite appetizer is filled with spinach, artichokes and three different cheeses, all baked in to crescent tart shell.

Crab and Shrimp Bruschetta
$8.00
A rich and creamy mixture of Dungeness Crab and Bay Shrimp served atop fresh baked, seasoned crostini.

Mini Crab and Shrimp Cakes
$9.00
Guaranteed to disappear fast. Bite-sized Dungeness Crab and Bay Shrimp coated cakes served with a tangy lemon aioli sauce.

Baked Brie and Apricot Compote
$7.00
A heavenly juxtaposition of soft imported Brie and sweet apricot compote encased in a buttery puff pastry.

Served warm with thin wafers.

Caprese Skewers
$7.00
Tomato, Basil & Mozzarella with a Balsamic drizzle.

Fresh Roma Tomato, Garlic and Basil Bruschetta
$6.00
The classic Italian starter with a twist of peppers. Fresh Roma Tomatoes and Roasted Red Peppers set atop fresh baked, seasoned crostini.

Chicken and Dumplings
$7.00
A traditional Asian dumpling stuffed chicken, scallions, and piquant spices. Served warm with a hoisin dipping sauce.

Crab Wontons
$8.00
Crispy wonton shells stuffed with Dungeness Crab and cream cheese.

Lightly fried and served with a sweet chili dipping sauce.

Menu Options

A 24% service charge and current California state sales tax will be added to final bill

Dominic ’s at Oyster Point

Hors D’ Oeuvres – continued

Crab Stuffed Mushrooms
$8.00
Button Mushroom Caps filled with a creamy mixture of Dungeness Crab and Parmesan cheese.

Baked until the feeling is lightly browned.

Steak Skewers with Gorgonzola and Roasted Red Peppers
$8.00
Choice, juicy steak sliced thin and grilled.

Finished in the oven with melted Gorgonzola cheese and roasted red peppers.

Avocado Egg Rolls
$7.00
Ripe Hass Avocado and flavorful Asian Spices rolled in a thin spring roll wrapper and lightly fried.

Served with a mildly sweetened vinegar dipping sauce.

Stuffed Mushrooms
$7.00
Button Mushroom Caps filled with a savory medley of roasted vegetables, breadcrumbs and Parmesan cheese.

Baked until the filing is lightly browned.

Focaccia Napolitano
$6.00
Our signature Focaccia Bread topped with fresh tomatoes, fresh mozzarella, basil and Napolitano sauce.

Crudités Platter
$6.00
Farm fresh, expertly shopped carrots, cauliflower, red peppers and broccoli florets.

Colorfully displayed arouesty Ranch dipping sauce.

Home-made Pesto Panini
$6.00
Home-made Italian Focaccia Bread stuffed with Pesto and Monterey Jack Cheese.

Baked until the cheese is perfectly melted.

Assorted Cheese Plate
$9.00
An assortment of domestic and imported cheeses guaranteed to please every palate.

Served with crostini and dried fruits.

Menu Options

A 24% service charge and current California state sales tax will be added to final bill

Dominic ’s at Oyster Point

Seated Appetizer Course (Choice of 1)
Grilled Tiger Prawns
$16.00
Four large, juicy Tiger Prawns expertly grilled with a squeeze of fresh lime. Served with the sweet tamarind glaze.

Crab & Shrimp Cakes
$12.00
A perennial favorite. Two lightly grilled Dungeness Crab and Bay Shrimp cakes served atop a bed of leafy arugula with a tangy lemon aioli.

Seared Scallops
$14.00
Sea Scallops lightly coated in flour and seared to a perfect golden brown. Served with a satiny lemon, butter and wine sauce.

Grilled Pineapple Stars with Seared Ahi Tuna
$14.00
Premium Ahi Tuna seared and served atop fresh grilled pineapple stars. Topped with a light and tangy teriyaki glaze.

Mushroom and Zucchini Quiche
$11.00
An authentic French tradition. A warm and savory mixture of egg, mushroom, zucchini and mozzarella cheese baked in a flaky crust.

Fresh Shrimp Ceviche
$13.00
Large, firm prawns marinated in a classic medley of fresh lemon juice, cilantro, diced Vidalia Onions and Hass avocados.

Served chilled in a fried corn tortilla shell.

Grilled Garlic Polenta
$10.00
Flavorful grilled polenta seasoned with garlic and topped with melted mozzarella and a fresh tomato basil tapenade.

Grilled Portobello Mushroom Stuffed with Roasted Vegetables $10.00
Medium-size Portobello mushroom stuffed with a delectable combination of breadcrumbs and fresh roasted vegetables.

Topped with a thin slice of Monterey Jack Cheese and a zesty tomato sauce.

Pasta Course
$10.00 / $11.00 for both Pastas
Bountiful portions of penne Domenico (button mushrooms, fresh garlic, basil in Roma tomato sauce) or Penne Pesto (Olive oil, crushed basil and pine nut sauce) served family style.

Menu Options

A 24% service charge and current California state sales tax will be added to final bill

Dominic ’s at Oyster Point

Salads (Choice of 1)

Spinach Salad
Fresh mix of leafy spinach garnished with red seedless grapes, sliced hard-boiled eggs and cheddar cheese.

Served with a light citrus vinaigrette dressing.

Classic Caesar Salad
(Add Bay Shrimp for $2 per person)
Crisp Romaine lettuce, shaved Asiago and Parmesan cheese, garlic-roasted croutons and a classic Caesar Dressing.

House Salad
House mix of Spring Lettuces, Endives, Candied Walnuts, fresh sliced Red Delicious Apples and Crumbled Bleu Cheese. Served with a balsamic vinaigrette dressing.

Mixed Green Salad
Traditional Spring Salad with sweet cherry tomatoes, sliced cucumbers, cheddar cheese, shredded carrots and crunchy croutons.

Served with a choice of Ranch, Italian, Thousand Island or Bleu Cheese Dressing.

Raspberry Spring Salad
Spring greens garnished with fresh raspberries, crumbled Gorgonzola cheese and juicy orange wedges.

Tossed in a tangy raspberry vinaigrette dressing.

A 24% service charge and current California state sales tax will be added to final bill

Dominic ’s at Oyster Point

Menu Options

Sit-Down Entrées
Filet Mignon
$54.95
Our finest steak. Had-cut by our chefs and served with a velvety mushroom demi-glaze sauce.

Mixed Grill
$54.95
An unbeatable trio for the indecisive eater. A 4-ounce Choice Filet, 4-ounce Chicken Marsala and three giant, juicy prawns. All served on one satisfying plate.

Prime Rib
$54.95
Tender, slow-roasted Prime Rib that’s sure to satiate even the heartiest appetite. Served with Au-Jus.

Lamb Chops
$54.95
Tender Australian Lamb Chops coted with special seasonings and topped with a rich sherry wine reduction.

New York Strip Steak
$49.95
A mouth-watering favorite. Choice New York Strip Steak, marinated in fresh herbs, garlic and Worcestershire sauce For 24 hours and then expertly grilled.

Baked Salmon
$45.95
Fresh Atlantic Salmon, baked until it simply melts in your mouth. With a light meuniere butter sauce.

Stuffed Petrale Sole
$45.95
Petrale Sole stuffed with our original crab and shrimp mix, topped with melted Monterey Jack Cheese And served with a meuniere butter sauce.

Encrusted Mahi-Mahi
$50.95
Fresh Pacific Mahi-Mahi encrusted in an assortment of breadcrumbs and shredded Asiago Cheese.

Served with a fresh, house-made tropical chutney.

Menu Options

A 24% service charge and current California state sales tax will be added to final bill

Dominic ’s at Oyster Point

Sit-Down Entrées – Continued

Chicken Piccata
$42.95
Grilled chicken breast topped with a lemon-butter caper sauce.

Stuffed Chicken Medallions
$42.95
Succulent and generously portioned chicken breast medallions stuffed with a Florentine mixture of spinach and Swiss cheese.

Chicken Marsala
$42.95
And ever-popular Italian tradition. A large chicken breast sautéed with button mushrooms and the distinctive flavor of sweet Marsala wine.

Eggplant Lasagna
$38.95
A vegetarian classic. Tender grilled eggplant layered between gourmet flat pasta, Monterey Jack, Ricotta, and Mozzarella cheeses, and traditional marinara sauce.

Fresh Mixed Vegetables en Croûte
$38.95
A colorful medley of sautéed mushrooms, zucchinis, carrots, onions and assorted peppers.

Encased in a delicate puff pastry and baked to perfection.

Stuffed Portobello Mushroom
$38.95
A large grilled Portobello mushroom stuffed with delectable combination of breadcrumbs and fresh roasted vegetables. Topped with a thin slice of Monterey Jack Cheese and a zesty tomato sauce.

Menu Options

A 24% service charge and current California state sales tax will be added to final bill

Dominic ’s at Oyster Point

Desserts
Chocolate Fudge Torte
$8.00
An exquisite cream cheese and berry filling between layers of flourless chocolate cake. Topped with a rich chocolate ganache.

Individual Cheesecake
$8.00
A timeless favorite that needs no ornamentation. Round, fluffy cheesecake in a buttery graham-cracker crust.

Chocolate Lava Cake
$8.00
Molten dark chocolate baked inside a light chocolate cake and topped with a chilled crème fraîche.

Fresh Fruit Cobbler
$8.00
A refreshing combination of sweet peaches and tart apples baked inside a flaky crust.

Served warm with gourmet vanilla bean gelato.

Lemon Zest Crème Torte
$8.00
A piquant, palate-cleansing mixture of cream cheese and fresh lemon zest between layers of moist white cake.

Espresso and Irish Cream Tiramisù
$8.00
A rich, whipped filing enveloped by ladyfingers soaked in espresso and Irish cream. Topped with dark chocolate shavings.

Caramel Custard
$8.00
A divine traditional cream custard served with a caramelized sugar sauce.

House Made Crème Puff or Éclair (choose one shape)
$8.00
A light pastry shell stuffed with a luscious mixture of Italian cream and whipped cream.

Éclairs are then dipped in rich dark chocolate.

Fresh Berry Napoleon
$8.00
A crispy puff pastry lined with constraining layers of smooth butter cream and fresh berry filling.

Fresh Strawberry Shortcake (seasonal)
$8.00
Ripe, lightly seasoned strawberries served atop a homemade semi sweet biscuit. Topped with chilled crème fraîche.

Apple Dumpling
$8.00
A fragrant mixture of fresh green apples, cinnamon and sugar baked in a flaky pastry shell.

Served warm with a gourmet vanilla bean gelato.

Menu Options

A 24% service charge and current California state sales tax will be added to final bill

Dominic ’s at Oyster Point

Buffet
Cold
Rolls & Butter
Caesar Salad
House Salad
Waldorf Salad
Fresh Fruit Display (seasonal)
Roasted Vegetable Pasta Salad
Mozzarella, Cucumber & Tomato Salad

Hot
Assorted Fresh Mix Vegetables
Penne Dominico
Vermicelli Rice
Chicken Toscano
Stuffed Petrale Sole
Roast Beef Au-Jus

$49.95 Per Guest

Additions:

Prime Rib Carver $15.00
Last Call Station $10.00
Assorted Dessert Bar $12.00
Menu Options

A 24% service charge and current California state sales tax will be added to final bill

Dominic ’s at Oyster Point

Stations

Chocolate Fountain
(100 person minimum)
$15.00
An eye-catching delight. Warm, flowing dark chocolate served with a variety of dipping choices, including strawberries, marshmallows, Green apples, cantaloupe, lady fingers, mini rice crispy treats, biscotti and pretzels.

Punch and Lemonade
$4.00
May substitute one choice for freshly brewed iced tea.

(you may do both stations for $7 per person)

Soft Drinks
(per can/bottle)
$4.00
Regular and Diet Coke
Sprite
Sparkling and still bottle water.

Assorted Dessert Bar
$12.00
Select three choices from our dessert menu.

Last Call
(served on the last hour of event)
$10.00
Assorted Cold Cuts and Rolls
Homemade Cookies
Chocolate and Low-fat Milk.

Menu Options

A 24% service charge and current California state sales tax will be added to final bill

Dominic ’s at Oyster Point

Rentals and AV Equipment

Projector & Screen $200.00
(cables & connectors included)

Up-Lighting Package $300.00
(10 up-lights in various colors)

Microphone $25.00/each
(2 microphones available)

Heat Lamps $75.00/each
(3 heat-lamps available)

Full Length Linens $30.00/each
(they come in various colors)

Chair Covers $7.00/chair
(includes color choice of sash)

Chivari Chairs $8.00/chair
(Silver, Gold, Black, or Clear)

House Sound No Charge
(you may connect to it via Bluetooth only)

Podium No Charge
(we have 1 available)

Wi-Fi No Charge
(for clients and vendors only)

Easels No Charge
(we have 6 available)

Staff Report re New Fare Gates at Colma BART Station Page 1 of 3

STAFF REPORT
TO: May
or and Members of the City Council
FROM: Dan Barros, City Manager
MEETING DATE: April 23, 2025
SUBJECT: New Fare Gates at Colma BART Station

RECOMMENDATION
Staff recommends that the City Council provide direction to the City Manager on whether to engage in negotiations for a Memorandum of Understanding (MOU) with the County of San Mateo to reimburse the County for any costs not secured by grant funding for the installation of 15 new fare gates at the Colma BART station.

COUNCIL ADOPTED VALUES
Responsible

BACKGROUND
The San Mateo County Board of Supervisors held a special meeting on Friday, March 28. The Board approved bridge funding of $10,321,678 for the purchase and installation of new fare gates at the five BART stations in San Mateo County, including fifteen (15) gates at the Colma BART station. The new state-of-the-art gates are designed to prevent people from entering and exiting stations without paying fares. Fare evaders not only significantly reduce much needed revenue for BART but also contribute to crime and vandalism within and in the vicinity of the stations, including in Colma. Having the new gates will be beneficial to Town residents by enhancing public safety.

As noted above, BART’s Next Generation Fare Gate project includes system-wide replacement of the fare gates in all the BART stations located in San Mateo, Alameda, Contra Costa, San Francisco, and Santa Clara Counties. The total project cost is approximately $90 million. San Francisco provides funding to BART through Measure AA, and the other counties provide funding to BART through Measure RR. Cities in San Mateo County are being asked to participate in the installation of the new gates because San Mateo County does not contribute funding to BART.

The San Mateo County Transportation Agency administers the Measure W Regional Transit Connection Program (RTC) Grant, which could cover all or a significant portion of the project costs for San Mateo County. BART has agreed to apply for this grant, with awards announced in July/August 2025. There is a timing issue in which BART needs to proceed with the project to secure lower pricing prior to the announcement of the grant application outcome. If the grant, AGENDA ITEM #8
Staff Report re New Fare Gates at Colma BART Station Page 2 of 3 or the full amount of the grant, is not awarded, the cities with BART stations are being asked to reimburse the County for the cost of installing the new fare gates in their respective cities. The Colma Station’s prorated share of the full cost is $1,888,112. Conditions agreed to by BART include that the agency will maintain the upgraded security gates after installation; BART will collaborate with the affected cities to strategize increased BART police presence, enhanced maintenance at the stations, and expanded retail operations. If reimbursement to the County is necessary, the County has agreed to negotiate with each city that payments may be made over time, as opposed to one lump sum payment.

In approving the County to provide bridge funding, the Board of Supervisors stipulated the following:

1. BART agrees to apply for the grant discussed above; if received, the grant will cover all or a portion of the costs, relieving the County and the relevant cities of the burden.

2. The Board’s resolution is contingent on the County executing five signed MOUs from each of the five cities that host BART stations (Daly City, San Bruno, South San Francisco, Colma, and Millbrae), guaranteeing reimbursement to the County if necessary.

3. BART will provide “transit ambassadors” alongside BART Police for fare enforcement and security.

ANALYSIS
Unlike the other four (4) cities mentioned above, the Colma BART station uniquely resides outside of Town limits and in unincorporated San Mateo County. This pertinent information has been brought to the attention of County Manager, Mike Callagy, over the course of several meetings as this topic was introduced to the five respective Cities involved.

Nevertheless, on behalf of the County of San Mateo, Mr. Callagy has requested that the Town engage in negotiations for the aforementioned MOU to establish a repayment plan to the County should the grant funding not cover the cost of the project.

FISCAL IMPACT
The financial impact of this proposal will depend on future events. It could range from zero if the RTC grant is awarded up to $1,888,112 if no grant funding is received. As noted above, if reimbursement is required, the Town will work with the County to negotiate as part of the MOU a payment plan spread over several years.

Staff Report re New Fare Gates at Colma BART Station Page 3 of 3

ENVIRONMENTAL
The City Council’s action in providing direction on this item is exempt from environmental review under the California Environmental Quality Act (CEQA) pursuant to Guideline 15378 as a governmental fiscal activity. It is also exempt pursuant to CEQA Guideline 15301 as the operation and minor alteration of an existing facility. Further clarity as to which agency will take the lead agency role will be clarified as part of the negotiations.

ALTERNATIVES
The City Council could choose to deny the County’s request to negotiate terms for potential repayment of the bridge funding. It is unclear at this time if the denial of this request would have any direct impacts on the Colma BART station and installation of the new Fare Gates.

CONCLUSION
Staff is seeking direction from the City council to authorize or not authorize the City Manager to engage in negotiations for an MOU for repayment to San Mateo County.

ATTACHMENTS
A. San Mateo County Staff Report, Fare Gates in San Mateo County BART Stations, March 28, 2025.

B. San Mateo County Resolution

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• JI.• 4 II
County of San Mateo
Inter-Departmental Correspondence
Department: COUNTY EXECUTIVE
File #: 25-260 Board Meeting Date: 3/28/2025
Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Michael P. Callagy, County Executive
Subject: Fare Gates in San Mateo County BART Stations
RECOMMENDATION:

Adopt a resolution:

A) Authorizing the County to provide Bay Area Rapid Transit (BART) up to $10,321,678 for the purchase of new fare gates to be installed at BART stations in Colma, Daly City, Millbrae, San Bruno, and South San Francisco, to the extent the costs for such purchase are not covered by a grant from the SMCTA Measure W Regional Transit Connection Program; and B) Authorizing the County to pay from the amount provided to BART a portion of the costs to improve the fare gates at the Colma BART station in an amount not to exceed $1,888,112; and C) Authorizing the County Executive, or designee(s), in consultation with the County Attorney, to negotiate and enter into a Memorandum of Understanding, or Memoranda of Understanding, with Colma, Daly City, Millbrae, San Bruno, South San Francisco, and BART regarding the County’s provision of funds for the purchase of new fare gates and for services provided by BART at stations in San Mateo County.

BACKGROUND:

BART provides essential public transportation services to residents throughout the Bay Area, including in San Mateo County. On March 6, 2024, BART unveiled its Next Generation Fare Gate project (“Project”) which involves a systemwide replacement of BART’s legacy fare gates with new, state-of-the-art fare gates at all BART stations.

The Project will cost approximately $90 million to complete. Alameda, Contra Costa, San Francisco, and Santa Clara County transportation authorities have contributed their county fundings shares.

Four cities within San Mateo County host BART stations; specifically, Daly City, Millbrae, San Bruno, and South San Francisco. In addition, the Colma BART Station is located in the unincorporated area,

Page 1 of 3 ends

ATTACHMENT A
immediately adjacent to the Town of Colma.

The projected total cost of the Project for the above five BART stations in San Mateo County is $10,321,678. The allocation of the total cost among the jurisdictions-determined by how many fare gates are presently installed at each station-is itemized as follows:

Station Name # of Faregates Cost Per Station
Colma 15 $1,888,112
Daly City 13 $1,636,364
Millbrae 29 $3,650,350
San Bruno 13 $1,636,364
South San Francisco 12 $1,510,490
Total San Mateo County 82 $10,321,678
The San Mateo County Transit Agency (SMCTA) is responsible for overseeing transportation projects in San Mateo County, and part of its role involves allocating funds to various transportation agencies, including BART. BART intends to apply for a grant from the SMCTA Measure W Regional Transit Connection Program (“Measure W RTC Grant”) to cover the cost of the Project at the above stations in San Mateo County.

DISCUSSION
:

As noted, BART intends to apply for a Measure W RTC Grant to cover the cost of the Project at BART stations located in San Mateo County. That indicated, it will not be known until July/August 2025 whether BART will receive the Measure W RTC Grant and, prior to that time, in order to avail itself of offered preferred pricing, BART must give notice to its contractor by March 31, 2025 as to whether the Project will include the stations located in San Mateo County.

Given the need to move this Project forward before it is known whether BART will receive a Measure W RTC Grant, staff recommends that the County agree to provide BART any amount, up to $10,321,678, that is not covered by the Measure W RTC Grant for Project costs at the above-listed stations in San Mateo County. The County, along with Colma, Daly City, Millbrae, San Bruno, and South San Francisco (collectively, the “Affected Jurisdictions”), would commit to send SMCTA letters of support for BART’s grant application.

In the event that BART does not receive a Measure W RTC Grant, or if such a grant is insufficient to cover the entire cost of the Project at the BART stations in San Mateo County, Daly City, Millbrae, San Bruno, and South San Francisco would repay the County for any funds the County provided for Project costs at BART stations in their respective jurisdictions, without interest over a time frame determined by the County Executive, in consultation with the County Attorney.

The cost to improve the fare gates at the Colma BART Station is $1,888,112 and, if any portion of those costs are not funded by the Measure W RTC Grant Grant, the County Executive, or designee (s), will work with the Town of Colma representatives to discuss the sharing of such costs since the Colma BART Station is located in the unincorporated area immediately adjacent to the Town.

Page 2 of 3 ends

The legislative councils of Daly City, Millbrae, South San Francisco, San Bruno, and Colma shall each take action to authorize repayment of any amounts ultimately advanced by the County for Project costs.

Staff further recommends that the Board authorize the County Executive, or designee(s), in consultation with the County Attorney, to negotiate and enter into a Memorandum of Understanding, or if appropriate, multiple Memoranda of Understanding, with Colma, Daly City, Millbrae, South San Francisco, San Bruno, and BART regarding the provision and repayment of County funds for the Project.

In consideration for the provision of funds, as described above, the Memorandum(a) of Understanding with BART would also include the following terms:

1. BART shall maintain the upgraded security gates after they are installed.

2. BART will coordinate with the Affected Jurisdictions to discuss strategies for increasing fare enforcement and BART police presence at BART stations in San Mateo County.

3. BART will coordinate with the Affected Jurisditions to improve the level of maintenance at each BART station in San Mateo County, including with respect to matters such as station and bathroom cleanliness, painting and graffiti abatement, elevator and escalator maintenance, lighting, repair of roofs and replacement of stained roof tiles, and replacement of bird netting,

4. BART will coordinate with the Affected Jurisdictions to discuss and support-in alignment with existing or future BART District retail plan(s)-retail operations, including those led by the Affected Jurisdictions, in appropriate areas of the BART stations in San Mateo County.

The County Attorney has reviewed and approved the Resolution as to form.

COMMUNITY IMPACT
:

The County’s financial support of new fare gates at BART stations in San Mateo County will help to enhance an efficient, affordable, reliable, environmentally friendly, and accessible form of public transportation for all community members, increasing economic vitality and reducing reliance on vehicular traffic.

FISCAL IMPACT:

The fiscal impact associated with adopting the Resolution will depend on future events. If, as expected, BART receives a grant to cover the entire cost of the Project, there will be no fiscal impact.

If a grant were not awarded, it is expected that the affected cities will contribute their respective shares of the cost, and the County could contribute up to $1,888,112 for new fare gates at the Colma BART Station. But the Board is authorizing the County to provide BART up to $10,321,678 for the Project.

Page 3 of 3 ends

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• JI.• 4 II
RESOLUTION NO. .

BOARD OF SUPERVISORS,

COUNTY OF SAN MATEO, STATE OF CALIFORNIA
* * * * * *
RESOLUTION: A) AUTHORIZING THE COUNTY TO PROVIDE BAY AREA RAPID TRANSIT (BART) UP TO $10,321,678 FOR THE PURCHASE OF NEW FARE GATES

TO BE INSTALLED AT BART STATIONS IN COLMA, DALY CITY, MILLBRAE, SAN

BRUNO, AND SOUTH SAN FRANCISCO, TO THE EXTENT THE COSTS FOR SUCH

PURCHASE ARE NOT COVERED BY A GRANT FROM THE SMCTA MEASURE W REGIONAL TRANSIT CONNECTION PROGRAM; AND

B) AUTHORIZING THE COUNTY TO PAY FROM THE AMOUNT PROVIDED TO

BART A PORTION OF THE COSTS TO IMPROVE THE FARE GATES AT THE COLMA BART STATION IN AN AMOUNT NOT TO EXCEED $1,888,112; AND

C) AUTHORIZING THE COUNTY EXECUTIVE, OR DESIGNEE(S), IN

CONSULTATION WITH THE COUNTY ATTORNEY, TO NEGOTIATE AND ENTER

INTO A MEMORANDUM OF UNDERSTANDING, OR MEMORANDA OF

UNDERSTANDING, WITH COLMA, DALY CITY, MILLBRAE, SAN BRUNO, SOUTH SAN FRANCISCO, AND BART REGARDING THE COUNTY’S PROVISION OF

FUNDS FOR THE PURCHASE OF NEW FARE GATES AND FOR SERVICES

PROVIDED BY BART AT STATIONS IN SAN MATEO COUNTY
_____________________________________________________________ RESOLVED, by the Board of Supervisors of t he County of San Mateo, State of California, that:

WHEREAS, Bay Area Rapid Transit (BART) provides essential public transportation services to residents throug hout the Bay Area, including in San Mateo County; and
WHEREAS, on March 6, 2024, BART unveiled it s Next Generation Fare Gate project (“Project”) which involves a systemwide replacement of BART’s legacy fare gates with new, state-of-the-art fare gates at all BART stations; and WHEREAS, the Project will, in total, cost approximately $90 million to complete, and the transportation authorit ies for Alameda County, Cont ra Costa County, City and County of San Francisco, and Santa Clara County have contributed their respective fundings shares; and
WHEREAS, in San Mateo County, the cities of Daly City, Millbrae, San Bruno, and South San Francisco, host BART stations and the Colma BART Station is located in the

ATTACHMENT B
unincorporated area, immediately adjacent to the Town of Colma (collectively, “San Mateo County BART Stations”); and
WHEREAS, the projected total cost of the Project at the San Mateo County BART Stations is $10,321,678, which total amount is divided among the jurisdictions based on the number of fare gates to be replaced at each BART station; and WHEREAS, the San Mateo County Transit Agency (“SMCTA”) oversees transportation projects in San Mateo County, and its responsibilities include allocating funds to various transportation agencies operating in San Mateo County, including BART; and
WHEREAS, BART intends to apply for a gr ant from the SMCTA Measure W Regional Transit Connection Program (“Measure W RTC Grant”) to cover the cost of the Project at the San Mateo C ounty BART Stations, but it wil l not be known until Summer 2025 whether a grant will be awarded for the Project; and WHEREAS, because of contract and project timing, BART must notify the Project contractor of whether the Project will include fare gates at the San Mateo County BART Stations before it is know n whether a Measure W RTC Grant will be awarded for the Project; and
WHEREAS, given the foregoing, and contingent on BART applying for a Measure W RTC Grant to cover the full cost of the Project at the San Mateo County Stations, this Board desires to authorize providing to BART any amount not covered by the Grant , up to $10,321,678, that is not covered by a Measure W RTC Grant to fund the costs of the Project at the San Mateo County Stations; and
WHEREAS, if BART does not receive a Measure W RTC Grant, or if such grant is insufficient to cover the entire cost of the Project at the San Mateo County BART Stations, and the County therefore provides BART funds to pay for the Project, Daly City, Millbrae, San Bruno, and South San Francisco will agree to repay the County for the share of funds provided by the County that corresponds to Project costs at the BART station in each respective jurisdiction, without interest ov er a time frame determined by the County Executive, in consultation with the County Attorney; and WHEREAS, the cost to improve the fare ga tes at the Colma BART Station is $1,888,112 and, if any portion of those costs are not funded by the SMCTA grant, the County Executive, or designee(s), will work wit h the Town of Colma representatives to discuss the sharing of such costs since t he Colma BART Station is located in the unincorporated area immediately adjacent to the Town; and WHEREAS, this Board desires that the County Executive, or designee(s), in consultation with the County Attorney, ne gotiate and enter into a Memorandum of Understanding, or if appropriate, multiple Memoranda of Understanding, with Colma, Daly City, Millbrae, San Bruno, S outh San Francisco, and BART regarding the provision of County funds for the Project; and
WHEREAS, the Memorandum of Understandi ng entered into with BART would also include the following terms:
 BART shall maintain the upgraded security gates in the San Mateo County BART Stations after they are installed; and
 BART will coordinate with the jurisdicti ons where upgraded security gates are installed in the San Mat eo County BART Stations under the Project to discuss strategies for increasing fare enforcement and the presence of BART police or Transit Ambassadors presence at such San Mateo County BART Stations; and  BART will coordinate with the jurisdicti ons where upgraded security gates are installed in the San Mateo County BART Stations under the Project to improve the level of maintenance at each such San Mateo County BART Station, including with respect to matters such as station and bathroom cl eanliness, painting and graffiti abatement, elevator and escalator maintenanc e, lighting, repa ir of roofs and replacement of stained roof tiles, and replacement of bird netting; and  BART will coordinate with the jurisdicti ons where upgraded security gates are installed in the San Mateo County BART Stations under the Project to discuss and support—in alignment with existing or futu re BART District re tail plan(s)—retail operations, including those led by such ju risdictions, in appropriate areas of the San Mateo County BART Stations; and

WHEREAS, any provision of funds to BART by the County to pay for Project costs at any of the San Mateo Count BART Stati ons shall be contingent on the legislative councils of Colma, Daly Cit y, Millbrae, South San Franc isco, San Bruno, each taking action to authorize a Memorandum of Under standing with the County to provide for the repayment of any funds provided by the County to pay for Project costs at the BART station in their respective jurisdiction.

NOW, THEREFORE, BE IT RESOLVED that, contingent on the negotiation of the Memoranda of Understanding described herein, the Board authorizes the County to provide BART any amount, not to exceed $10,321,678, contingent on BART’s application for, and that is not covered by, a Measure W RTC Grant (or not otherwise funded) to fund the costs of the Project at San Mateo County BART Stations.

IT IS FURTHER RESOLVED that, from the funds provided to BART, the County is authorized to pay a portion of the costs to improve the fare gates at the Colma BART Station, which costs total $1,888,112, and the County Executive, or designee(s), is authorized and directed to negotiate with the Town of Colma the portion to be paid by the County not to exceed $1,888,112.

IT IS FURTHER RESOLVED that the County Executive, or designee(s), in consultation with the County Attorney, is authorized and directed to negotiate and enter into a Memorandum of Understanding, or if appropriate, multiple Memoranda of Understanding, with Daly City, Millbrae, South San Francisco, San Bruno, Colma, and BART regarding the provision and reimbursement of County funds for the Project and the agreed upon services performed by BART at affected San Mateo County BART Stations, in a manner consistent with the Board’s intent, conditions, and findings set forth herein.

IT IS FURTHER RESOLVED that the County Executiv e, or designee(s) is authorized to enter into amendments to the Memorandum of Understanding, or Memoranda of Understanding, entered into pursuant to this Resolution which modify the County’s maximum fiscal obligation by no mo re than $25,000, and/or modify the term and/or services so long as the modified term or services is/are within the current or revised fiscal provisions, and to also negotiate, agree to, enter into, and/or execute any additional documents necessary, advisable, or appropria te to effectuate or carry out the Memorandum of Understanding, or Memoranda of Understanding, consistent with the Board’s intent, conditions, and findings reflected herein. * * * * * *
A II • I
From:

To: Michelle Estabillo
Cc: Ken Gonzalez; Carrie Slaughter; Helen Fisicaro; Joanne Del Rosario; Thomas Walsh Subject: Public Comment on Agenda Item 8, New Fare Gates at Colma BART Station Date: Saturday, April 19, 2025 8:11:08 PM
Good evening Michelle,
I can’t make the upcoming council meting but would like to submit my comment on Agenda Item 8, New Fare Gates at Colma BART Station:

Good evening Mayor, Vice Mayor, Council and staff,
One of the longstanding reasons San Mateo County and its cities and towns have not contributed financially to BART is the lack of meaningful representation or input. BART makes decisions with little to no engagement from local jurisdictions, and now it’s coming to those very communities asking for funding—for fare evasion gates.

Will these gates help reduce fare evasion, vandalism, and potentially crime in and around the Colma station? Possibly. Could they increase revenue for BART? Maybe. But it's a stretch to suggest that anyone intent on committing crimes in Colma is going to pay a fare first.

BART claims it will now collaborate with cities by enhancing police presence and improving station maintenance. I spent countless hours on this very council requesting both at the South San Francisco station—those requests went nowhere. Now, BART promises to cooperate? Furthermore, as your staff report correctly notes, the Colma BART station is not even within Colma’s jurisdiction. Despite this, County Manager Mike Calagy appears to have requested that Colma begin negotiations with the County regarding this matter.

I urge the Town Council to send a strong, unequivocal message to Mr. Calagy: The Town of Colma does not take directives from the County of San Mateo. We govern on behalf of our residents, not at the behest of BART or the County.

Thank you for your continued leadership.

John Goodwin
PUBLIC COMMENT RECEIVED ON AGENDA ITEM #8

Colma City CouncilApril 23, 2025

Colma City Council
April 23, 2025