Cupertino City Council
March 7, 2023

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 657
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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 497 Quinlan Community
Center
C1030 - Interior Doors 3 - Impending (2-3 Years) Interior hollow metal door is in visual need of
refurbishment.

Refurbish/repair interior hollow metal door.
$62,830 $74,140
510 Quinlan Community
Center
C2030 - Flooring 3 - Impending (2-3 Years) Rolled carpeting is approaching the end of its useful life.

Remove existing rolled carpeting and replace it with new 40 oz. nylon carpet.
$29,580 $34,910
520 Quinlan Community
Center
C2030 - Flooring 3 - Impending (2-3 Years) Wood flooring shows signs of wear.

Sand, repair and refinish
the wood flooring.
$34,040 $40,170
498 Quinlan Community
Center
C2030 - Flooring 3 - Impending (2-3 Years) Wood wall base is approaching the end of its
useful life.

Replace the wood wall
base.
$6,120 $7,230
495 Quinlan Community
Center
C2050 - Ceiling Finishes 3 - Impending (2-3 Years) Glue-On Acoustical Ceiling Tile is in poor condition.

Remove existing Glue-On Acoustical and replace with new Glue-On Acoustical Tiles.
$104,700 $123,550
341 Quinlan Community
Center
D2010 - Domestic Water Distribution
3 - Impending (2-3 Years) Gas fired water heater less
than 75 Gal is approaching the end of its expected
useful life.

Provide equipment replacement and installation.
$12,700 $14,990
338 Quinlan Community
Center
D2060 - Process Support Plumbing Systems
3 - Impending (2-3 Years) Air compressor is
approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$15,420 $18,200
384 Quinlan Community
Center
D3030 - Cooling Systems 3 - Impending (2-3 Years) Split system (2-ton) with fan coil and outdoor condensing unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$22,860 $26,980
351 Quinlan Community
Center
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 225A (42 ckts, 120/208,
3P) panelboard is approaching the end of its
expected useful life.

Replace the existing panelboard with a new panelboard.
$17,810 $21,020

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 658
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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 353 Quinlan Community
Center
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 225A (42 ckts, 120/208,
3P) panelboard is approaching the end of its
expected useful life.

Replace the existing panelboard with a new panelboard.
$17,810 $21,020
392 Quinlan Community
Center
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 225A (42 ckts, 120/208,
3P) panelboard is approaching the end of its
expected useful life.

Replace the existing panelboard with a new panelboard.
$17,810 $21,020
393 Quinlan Community
Center
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 225A (42 ckts, 120/208,
3P) panelboard is approaching the end of its
expected useful life.

Replace the existing panelboard with a new panelboard.
$17,810 $21,020
394 Quinlan Community
Center
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 225A (42 ckts, 277/480,
3P) panelboard is approaching the end of its
expected useful life.

Replace the existing panelboard with a new panelboard.
$25,160 $29,690
367 Quinlan Community
Center
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 30kVA transformer
(3P dry-type, 480-120/208V) is approaching the end of its expected useful life.

Replace the existing transformer with a new transformer. $10,730 $12,670
354 Quinlan Community
Center
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 75kVA transformer
(3P dry-type, 480-120/208V) is approaching the end of its expected useful life.

Replace the existing transformer with a new transformer. $15,870 $18,730
395 Quinlan Community
Center
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 75kVA transformer
(3P dry-type, 480-120/208V) is approaching the end of its expected useful life.

Replace the existing transformer with a new transformer. $15,870 $18,730

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 659
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659 of 773
Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 355 Quinlan Community
Center
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 800A metered main
switchboard (3P, 277/480 ) is approaching the end of its expected useful life.

Replace the existing metered main switchboard with a new metered main switchboard. $20,460 $24,150
359 Quinlan Community
Center
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The motor control center is
at or is approaching end of its expected useful life.

Replace the existing motor control center with a new motor control center. $59,140 $69,790
375 Quinlan Community
Center
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The motor control center is
at or is approaching end of its expected useful life.

Replace the existing motor control center with a new motor control center. $59,140 $69,790
1129 Quinlan Community
Center
D5040 - Lighting 3 - Impending (2-3 Years) Interior lighting system is at or is approaching end of its expected useful life.

Provide new interior
lighting and control system
throughout building per current CEC T24 code.
$1,575,060 $1,858,580
1130 Quinlan Community
Center
D5040 - Lighting 3 - Impending (2-3 Years) The exterior wall mounted fixture is approaching the end of its expected useful
life.

Replace the existing wall mounted lighting fixture with an LED lighting fixture.
$82,770 $97,670
512 Quinlan Community
Center
E2010 - Fixed Furnishings 3 - Impending (2-3 Years) Mirror is damaged. Remove and replace mirror.
$6,480 $7,650
489 Quinlan Community
Center
B2050 - Exterior Doors and Grilles
4 - Necessary - Long Term (3-4 Years)
Exterior aluminum (storefront) entrance door is approaching the end of its useful life.

Replace aluminum door (storefront).
$291,010 $357,950
380 Quinlan Community
Center
D3060 - Ventilation 4 - Necessary - Long Term
(3-4 Years)
In-Line building exhaust fan is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$28,800 $35,430
346 Quinlan Community
Center
D3060 - Ventilation 4 - Necessary - Long Term
(3-4 Years)
Utility exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$15,420 $18,970

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 660
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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 347 Quinlan Community
Center
D3060 - Ventilation 4 - Necessary - Long Term
(3-4 Years)
Utility exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$15,420 $18,970
362 Quinlan Community
Center
D3060 - Ventilation 4 - Necessary - Long Term
(3-4 Years)
Utility exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$15,420 $18,970
381 Quinlan Community
Center
D3060 - Ventilation 4 - Necessary - Long Term
(3-4 Years)
Utility exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$15,420 $18,970
370 Quinlan Community
Center
D3030 - Cooling Systems 5 - Potential - Long Term (4-
5 Years)
Window mounted AC unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$6,160 $7,890
343 Quinlan Community
Center
D5020 - Electrical Service and Distribution
5 - Potential - Long Term (4-
5 Years)
The 7.5kVA transformer (1P dry-type, 240/480-120/240V) is approaching the end of its expected useful life.

Replace the existing transformer with a new transformer. $6,660 $8,530
Quinlan Community Center $4,460,440 $5,245,100
1158 Senior Center D7050 - Detection and
Alarm
1 - Immediate (0-1 Years) The existing fire alarm
system is approaching the end of its useful life and should be replaced.

Replace the existing fire alarm system with a complete, site-wide, fully addressable fire alarm system.
$286,410 $309,330
442 Senior Center D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (15-ton to 25-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$123,180 $139,200
446 Senior Center D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (3-ton to 8-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$46,220 $52,230

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 661
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661 of 773
Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 448 Senior Center D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (3-ton to 8-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$46,220 $52,230
450 Senior Center D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (8-ton to 15-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$77,010 $87,030
452 Senior Center D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (8-ton to 15-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$77,010 $87,030
454 Senior Center D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (8-ton to 15-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$77,010 $87,030
445 Senior Center D3050 - Facility HVAC
Distribution Systems
2 - Crucial (1-2 Years) Air handler / make up air
unit (17.5-ton) is approaching the end of its
expected useful life.

Provide equipment replacement and installation.
$69,300 $78,310
464 Senior Center D3030 - Cooling Systems 3 - Impending (2-3 Years) Split system (3-ton) with fan coil and outdoor condensing unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$26,120 $30,830
457 Senior Center D5020 - Electrical Service
and Distribution
3 - Impending (2-3 Years) The 1000A metered main
switchboard (3P, 120/208 ) is approaching the end of its expected useful life.

Replace the existing metered main switchboard with a new metered main switchboard. $31,720 $37,430

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 662
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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 461 Senior Center D5020 - Electrical Service
and Distribution
3 - Impending (2-3 Years) The 225A (42 ckts, 120/208,
3P) panelboard is approaching the end of its
expected useful life.

Replace the existing panelboard with a new panelboard.
$17,810 $21,020
462 Senior Center D5020 - Electrical Service
and Distribution
3 - Impending (2-3 Years) The 225A (42 ckts, 120/208,
3P) panelboard is approaching the end of its
expected useful life.

Replace the existing panelboard with a new panelboard.
$17,810 $21,020
476 Senior Center D5020 - Electrical Service
and Distribution
3 - Impending (2-3 Years) The 225A (42 ckts, 120/208,
3P) panelboard is approaching the end of its
expected useful life.

Replace the existing panelboard with a new panelboard.
$17,810 $21,020
477 Senior Center D5020 - Electrical Service
and Distribution
3 - Impending (2-3 Years) The 225A (42 ckts, 120/208,
3P) panelboard is approaching the end of its
expected useful life.

Replace the existing panelboard with a new panelboard.
$17,810 $21,020
1131 Senior Center D5040 - Lighting 3 - Impending (2-3 Years) Interior lighting system is at or is approaching end of its expected useful life.

Provide new interior
lighting and control system
throughout building per current CEC T24 code.
$850,800 $1,003,950
1132 Senior Center D5040 - Lighting 3 - Impending (2-3 Years) The exterior wall mounted fixture is approaching the end of its expected useful
life.

Replace the existing wall mounted lighting fixture with an LED lighting fixture.
$43,570 $51,420
443 Senior Center D3060 - Ventilation 4 - Necessary - Long Term (3-4 Years)
Roof exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,790 $8,360
447 Senior Center D3060 - Ventilation 4 - Necessary - Long Term (3-4 Years)
Roof exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,790 $8,360
449 Senior Center D3060 - Ventilation 4 - Necessary - Long Term (3-4 Years)
Roof exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,790 $8,360

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 663
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663 of 773
Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 451 Senior Center D3060 - Ventilation 4 - Necessary - Long Term (3-4 Years)
Roof exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,790 $8,360
453 Senior Center D3060 - Ventilation 4 - Necessary - Long Term (3-4 Years)
Roof exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,790 $8,360
455 Senior Center D3060 - Ventilation 4 - Necessary - Long Term (3-4 Years)
Roof exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,790 $8,360
444 Senior Center D3060 - Ventilation 4 - Necessary - Long Term (3-4 Years)
Utility exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$15,420 $18,970
Senior Center $1,881,970 $2,169,230
699 Service Center
Administration Building
B3060 - Horizontal
Openings
1 - Immediate (0-1 Years) Roof hatch lacks safety
post.

Provide safety post. $1,240 $1,340
587 Service Center
Administration Building
D7050 - Detection and Alarm
1 - Immediate (0-1 Years) The existing fire alarm
system is approaching the end of its useful life and should be replaced.

Replace the existing fire alarm system with a complete, site-wide, fully addressable fire alarm system.
$131,200 $141,700
570 Service Center
Administration Building
D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (1-ton to 3-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$15,420 $17,430
566 Service Center
Administration Building
D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (3-ton to 8-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$46,220 $52,230

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 664
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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 569 Service Center
Administration Building
D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (3-ton to 8-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$46,220 $52,230
701 Service Center
Administration Building
A4010 - Standard Slabs on Grade
3 - Impending (2-3 Years) Excessive cracks were
detected in the floor slabon-grade.

Fill the slab-on-grade cracks with caulking.
$660 $780
698 Service Center
Administration Building
B2010 - Exterior Walls 3 - Impending (2-3 Years) The top of the parapet wall is not protected.

Provide a sheet metal cap. $30,800 $36,350
712 Service Center
Administration Building
B2020 - Exterior Windows 3 - Impending (2-3 Years) Metal window is approaching the end of its
useful life.

Replace metal window. $73,910 $87,220
697 Service Center
Administration Building
B3010 - Roofing 3 - Impending (2-3 Years) Built-up roofing is beyond its expected useful service life and needs replacement.

Remove and replace builtup roofing. $304,880 $359,760
1117 Service Center
Administration Building
C1030 - Interior Doors 3 - Impending (2-3 Years) Interior wood door is in visual need of
refurbishment.

Refurbish and restain the wood door.
$12,950 $15,290
707 Service Center
Administration Building
C2010 - Wall Finishes 3 - Impending (2-3 Years) Interior wall paint is in need of refresh.

Paint interior walls with 2 coat finish (includes
surface prep and primer).
$23,180 $27,360
706 Service Center
Administration Building
C2030 - Flooring 3 - Impending (2-3 Years) Grout is damaged and deteriorating on the tiled
floor.

Clean and regrout tiles. $3,710 $4,380
703 Service Center
Administration Building
C2030 - Flooring 3 - Impending (2-3 Years) Rolled carpeting is approaching the end of its useful life.

Remove existing rolled carpeting and replace it with new 40 oz. nylon carpet.
$9,870 $11,650
1118 Service Center
Administration Building
C2030 - Flooring 3 - Impending (2-3 Years) Sheet vinyl is approaching the end of its useful life.

Remove the existing sheet vinyl and replace.
$33,140 $39,110

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 665
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665 of 773
Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 700 Service Center
Administration Building
C2030 - Flooring 3 - Impending (2-3 Years) Vinyl composition tile is approaching the end of its
useful life.

Remove the existing vinyl composition tile and
replace.
$16,190 $19,110
702 Service Center
Administration Building
C2030 - Flooring 3 - Impending (2-3 Years) Vinyl composition tile is approaching the end of its
useful life.

Remove the existing vinyl composition tile and
replace.
$3,490 $4,120
708 Service Center
Administration Building
C2030 - Flooring 3 - Impending (2-3 Years) Vinyl composition tile is approaching the end of its
useful life.

Remove the existing vinyl composition tile and
replace.
$11,560 $13,650
710 Service Center
Administration Building
C2050 - Ceiling Finishes 3 - Impending (2-3 Years) Lay-in Acoustical Tile is in poor condition.

Remove existing lay-in Acoustical Tiles and replace with new lay-in Acoustical Tiles.
$57,590 $67,960
588 Service Center
Administration Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550
585 Service Center
Administration Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (30 ckts, 120/208,
3P) panelboard is approaching the end of its
expected useful life.

Replace the existing panelboard with a new panelboard.
$11,000 $12,980
583 Service Center
Administration Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 225A (42 ckts, 120/208,
3P) panelboard is approaching the end of its
expected useful life.

Replace the existing panelboard with a new panelboard.
$17,810 $21,020
586 Service Center
Administration Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 400A metered main
switchboard (3P, 120/208 ) is approaching the end of its expected useful life.

Replace the existing metered main switchboard with a new metered main switchboard. $17,020 $20,090

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 666
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666 of 773
Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 575 Service Center
Administration Building
D5040 - Lighting 3 - Impending (2-3 Years) Interior lighting system is at or is approaching end of its expected useful life.

Provide new interior
lighting and control system
throughout building per current CEC T24 code.
$389,730 $459,890
1136 Service Center
Administration Building
D5040 - Lighting 3 - Impending (2-3 Years) The exterior wall mounted fixture is approaching the end of its expected useful
life.

Replace the existing wall mounted lighting fixture with an LED lighting fixture.
$32,690 $38,580
711 Service Center
Administration Building
B2050 - Exterior Doors and Grilles
4 - Necessary - Long Term (3-4 Years)
Exterior aluminum entrance door, frame and hardware is approaching the end of its useful life.

Replace aluminum door, frame, and hardware.
$27,000 $33,220
568 Service Center
Administration Building
D3030 - Cooling Systems 4 - Necessary - Long Term
(3-4 Years)
Split system (1-ton) with wall mounted AC and outdoor condensing unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$16,350 $20,120
571 Service Center
Administration Building
D3060 - Ventilation 4 - Necessary - Long Term
(3-4 Years)
Roof/sidewall ventilator is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,160 $7,580
572 Service Center
Administration Building
D3060 - Ventilation 4 - Necessary - Long Term
(3-4 Years)
Roof/sidewall ventilator is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,160 $7,580
590 Service Center
Administration Building
D3030 - Cooling Systems 5 - Potential - Long Term (4-
5 Years)
Window mounted AC unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$6,160 $7,890
1116 Service Center Shops &
Mechanic Building
B2010 - Exterior Walls 3 - Impending (2-3 Years) Metal siding panels damaged in several
locations.

Replace damaged panels. $4,950 $5,850
713 Service Center Shops &
Mechanic Building
B2050 - Exterior Doors and Grilles
3 - Impending (2-3 Years) Exterior aluminum
entrance door, frame and hardware is approaching
the end of its useful life.

Replace aluminum door, frame, and hardware.
$6,770 $7,990

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 667
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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 1115 Service Center Shops &
Mechanic Building
B2050 - Exterior Doors and Grilles
3 - Impending (2-3 Years) The existing threshold is
approaching the end of its
useful life.

Replace the associated threshold.
$480 $570
722 Service Center Shops &
Mechanic Building
C2030 - Flooring 3 - Impending (2-3 Years) Rolled carpeting is approaching the end of its useful life.

Remove existing rolled carpeting and replace it with new 40 oz. nylon carpet.
$9,870 $11,650
725 Service Center Shops &
Mechanic Building
C2030 - Flooring 3 - Impending (2-3 Years) Rolled carpeting is approaching the end of its useful life.

Remove existing rolled carpeting and replace it with new 40 oz. nylon carpet.
$29,580 $34,910
612 Service Center Shops &
Mechanic Building
D3030 - Cooling Systems 3 - Impending (2-3 Years) Window mounted AC unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$6,160 $7,270
617 Service Center Shops &
Mechanic Building
D3030 - Cooling Systems 3 - Impending (2-3 Years) Window mounted AC unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$6,160 $7,270
615 Service Center Shops &
Mechanic Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (120/208V) all-inone combination service entrance pedestal is approaching the end of its expected useful life.

Replace the existing all-inone combination service
entrance device with a new
all-in-one combination service entrance device.
$7,890 $9,320
609 Service Center Shops &
Mechanic Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550
620 Service Center Shops &
Mechanic Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 668
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668 of 773
Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 621 Service Center Shops &
Mechanic Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550
719 Service Center Shops &
Mechanic Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550
724 Service Center Shops &
Mechanic Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550
728 Service Center Shops &
Mechanic Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550
715 Service Center Shops &
Mechanic Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (30 ckts, 120/208,
3P) panelboard is approaching the end of its
expected useful life.

Replace the existing panelboard with a new panelboard.
$11,000 $12,980
625 Service Center Shops &
Mechanic Building
D5040 - Lighting 3 - Impending (2-3 Years) Interior lighting system is at or is approaching end of its expected useful life.

Provide new interior
lighting and control system
throughout building per current CEC T24 code.
$452,850 $534,370
619 Service Center Shops &
Mechanic Building
D3030 - Cooling Systems 4 - Necessary - Long Term
(3-4 Years)
Window mounted AC unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$6,160 $7,580

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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 622 Service Center Shops &
Mechanic Building
D3060 - Ventilation 4 - Necessary - Long Term
(3-4 Years)
Roof/sidewall ventilator is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,160 $7,580
623 Service Center Shops &
Mechanic Building
D3060 - Ventilation 4 - Necessary - Long Term
(3-4 Years)
Roof/sidewall ventilator is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,160 $7,580
614 Service Center Shops &
Mechanic Building
D3020 - Heating Systems 5 - Potential - Long Term (4-
5 Years)
Gas fired unit heater is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$11,420 $14,620
626 Service Center Shops &
Mechanic Building
D3020 - Heating Systems 5 - Potential - Long Term (4-
5 Years)
Gas fired unit heater is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$11,420 $14,620
606 Service Center Shops &
Mechanic Building
D3060 - Ventilation 5 - Potential - Long Term (4-
5 Years)
Roof exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,790 $8,700
607 Service Center Shops &
Mechanic Building
D3060 - Ventilation 5 - Potential - Long Term (4-
5 Years)
Roof exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,790 $8,700
731 Service Center Welding
Building
B2080 - Exterior Wall Appurtenances
3 - Impending (2-3 Years) Awning (metal) is
approaching the end of its
useful life.

Replace metal awning. $21,580 $25,470
730 Service Center Welding
Building
C2010 - Wall Finishes 3 - Impending (2-3 Years) Interior wall paint is in need of refresh.

Paint interior walls with 2 coat finish (includes
surface prep and primer).
$5,800 $6,850
629 Service Center Welding
Building
D3030 - Cooling Systems 3 - Impending (2-3 Years) Window mounted AC unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$6,160 $7,270
628 Service Center Welding
Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 670
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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 631 Service Center Welding
Building
D3030 - Cooling Systems 5 - Potential - Long Term (4-
5 Years)
Window mounted AC unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$6,160 $7,890
729 Service Center Welding
Building
D3030 - Cooling Systems 5 - Potential - Long Term (4-
5 Years)
Window mounted AC unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$6,160 $7,890
Service Center Welding Bldg., Shops & Mechanical Bldg, Administration Bldg. $2,026,380 $2,381,950 414 Sports Center D7050 - Detection and
Alarm
1 - Immediate (0-1 Years) The existing fire alarm
system is approaching the end of its useful life and should be replaced.

Replace the existing fire alarm system with a complete, site-wide, fully addressable fire alarm system.
$309,490 $334,250
423 Sports Center D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (3-ton to 8-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$46,220 $52,230
430 Sports Center D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (3-ton to 8-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$46,220 $52,230
431 Sports Center D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (3-ton to 8-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$46,220 $52,230
422 Sports Center D3030 - Cooling Systems 2 - Crucial (1-2 Years) Rooftop/ground mounted packaged DX AC unit (8-ton to 15-ton) is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$77,010 $87,030

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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 424 Sports Center D3050 - Facility HVAC
Distribution Systems
2 - Crucial (1-2 Years) Air handler / make up air
unit (17.5-ton) is approaching the end of its
expected useful life.

Provide equipment replacement and installation.
$69,300 $78,310
527 Sports Center B1080 - Stairs 3 - Impending (2-3 Years) Wood steps need refurbishing.

Refinish/refurb wood
steps.
$49,270 $58,140
526 Sports Center B2080 - Exterior Wall
Appurtenances
3 - Impending (2-3 Years) Awning (fabric) is
approaching the end of its
useful life.

Replace fabric awning. $1,560 $1,850
524 Sports Center B3010 - Roofing 3 - Impending (2-3 Years) Wood fascia and trim chipped and have peeling
paint.

Clean, repair, and paint the
trim and/or fascia.
$39,680 $46,830
1114 Sports Center C1030 - Interior Doors 3 - Impending (2-3 Years) Interior wood door is in visual need of
refurbishment.

Refurbish and restain the wood door.
$3,710 $4,380
531 Sports Center C2030 - Flooring 3 - Impending (2-3 Years) Grout is damaged and deteriorating on the tiled
floor.

Clean and regrout tiles. $12,320 $14,540
538 Sports Center C2030 - Flooring 3 - Impending (2-3 Years) Gymnasium floor is approaching the end of its
useful life.

Replace the existing flooring with a new wood
gym floor.
$197,080 $232,560
530 Sports Center C2030 - Flooring 3 - Impending (2-3 Years) Sheet vinyl is approaching the end of its useful life.

Remove the existing sheet vinyl and replace.
$18,710 $22,080
528 Sports Center C2050 - Ceiling Finishes 3 - Impending (2-3 Years) Lay-in Acoustical Tile is in poor condition.

Remove existing lay-in Acoustical Tiles and replace with new lay-in Acoustical Tiles.
$1,470 $1,740
534 Sports Center C2050 - Ceiling Finishes 3 - Impending (2-3 Years) Lay-in Acoustical Tile is in poor condition.

Remove existing lay-in Acoustical Tiles and replace with new lay-in Acoustical Tiles.
$14,410 $17,010

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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 426 Sports Center D3030 - Cooling Systems 3 - Impending (2-3 Years) Split system (3-ton) with fan coil and outdoor condensing unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$26,120 $30,830
427 Sports Center D3030 - Cooling Systems 3 - Impending (2-3 Years) Split system (3-ton) with fan coil and outdoor condensing unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$26,120 $30,830
411 Sports Center D5020 - Electrical Service
and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550
421 Sports Center D5020 - Electrical Service
and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550
439 Sports Center D5020 - Electrical Service
and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550
409 Sports Center D5020 - Electrical Service
and Distribution
3 - Impending (2-3 Years) The 150kVA transformer
(3P dry-type, 480-120/208V) is approaching the end of its expected useful life.

Replace the existing transformer with a new transformer. $24,800 $29,270
413 Sports Center D5020 - Electrical Service
and Distribution
3 - Impending (2-3 Years) The 400A switchboard is
approaching the end of its
expected useful life.

Replace the existing switchboard with a new
switchboard.
$17,020 $20,090

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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 1134 Sports Center D5040 - Lighting 3 - Impending (2-3 Years) Interior lighting system is at or is approaching end of its expected useful life.

Provide new interior
lighting and control system
throughout building per current CEC T24 code.
$919,400 $1,084,900
1133 Sports Center D5040 - Lighting 3 - Impending (2-3 Years) The exterior wall mounted fixture is approaching the end of its expected useful
life.

Replace the existing wall mounted lighting fixture with an LED lighting fixture.
$13,090 $15,450
428 Sports Center D3060 - Ventilation 5 - Potential - Long Term (4- 5 Years)
Roof exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,790 $8,700
436 Sports Center D3060 - Ventilation 5 - Potential - Long Term (4- 5 Years)
Roof exhaust fan is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$6,790 $8,700
Sports Center $1,986,900 $2,300,830
769 Traffic Maintenance Yard -
Building 1
B2020 - Exterior Windows 3 - Impending (2-3 Years) Steel framed windows are at or approaching end of expected useful service life.

Replace steel framed windows.
$30,800 $36,350
768 Traffic Maintenance Yard -
Building 1
B3010 - Roofing 3 - Impending (2-3 Years) Metal Roofing is at or approaching end of expected useful service life.

Remove and replace metal roofing.
$42,510 $50,170
1112 Traffic Maintenance Yard -
Building 1
B3020 - Roof
Appurtenances
3 - Impending (2-3 Years) Rain leaders/gutters are
damaged and leak.

Repair, replace rain
leaders/gutters.
$4,640 $5,480
1109 Traffic Maintenance Yard -
Building 1
C2050 - Ceiling Finishes 3 - Impending (2-3 Years) Lay-in Acoustical Tile is in poor condition.

Remove existing lay-in Acoustical Tiles and replace with new lay-in Acoustical Tiles.
$15,850 $18,710
1110 Traffic Maintenance Yard -
Building 1
C2030 - Flooring 4 - Necessary - Long Term
(3-4 Years)
Vinyl composition tile is approaching the end of its
useful life.

Remove the existing vinyl composition tile and
replace.
$18,480 $22,740

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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 833 Traffic Maintenance Yard -
Building 1
D3030 - Cooling Systems 4 - Necessary - Long Term
(3-4 Years)
Wall mounted AC unit is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$30,800 $37,890
834 Traffic Maintenance Yard -
Building 1
D3030 - Cooling Systems 4 - Necessary - Long Term
(3-4 Years)
Wall mounted AC unit is approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$30,800 $37,890
1111 Traffic Maintenance Yard -
Building 1
C2030 - Flooring 5 - Potential - Long Term (4-
5 Years)
Rolled carpeting is approaching the end of its useful life.

Remove existing rolled carpeting and replace it with new 40 oz. nylon carpet.
$6,160 $7,890
842 Traffic Maintenance Yard -
Building 2
D3030 - Cooling Systems 1 - Immediate (0-1 Years) Window mounted AC unit is approaching the end of its expected useful life.

Provide equipment replacement and installation.
$6,160 $6,660
Traffic Maintenance Yard - Buildings 1 & 2 $186,200 $223,780 274 Wilson Park Recreation
Building
B2010 - Exterior Walls 3 - Impending (2-3 Years) Wood board siding is approaching the end of its useful life.

Replace or repair the existing wood siding. Place a new siding over building paper and
plywood sheathing.
$36,960 $43,620
278 Wilson Park Recreation
Building
B3010 - Roofing 3 - Impending (2-3 Years) Wood fascia and trim chipped and have peeling
paint.

Clean, repair, and paint the
trim and/or fascia.
$17,270 $20,380
273 Wilson Park Recreation
Building
C1030 - Interior Doors 3 - Impending (2-3 Years) Interior wood door is at or approaching the end of its
useful life.

Replace with new wood door.
$6,790 $8,020
1113 Wilson Park Recreation
Building
C2030 - Flooring 3 - Impending (2-3 Years) 6" Vinyl wall base is approaching the end of its
useful life.

Replace the vinyl wall
base.
$390 $470
272 Wilson Park Recreation
Building
D2010 - Domestic Water Distribution
3 - Impending (2-3 Years) Water leakage from
plumbing fixture.

Investigate cause of leak and provide repairs and adjustments as necessary. $630 $750

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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 205 Wilson Park Recreation
Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (120/240V, 1P) allin-one combination service entrance device is approaching the end of its expected useful life.

Replace the existing all-inone combination service
entrance device with a new
all-in-one combination service entrance device.
$7,890 $9,320
202 Wilson Park Recreation
Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550
271 Wilson Park Recreation
Building
D5020 - Electrical Service and Distribution
3 - Impending (2-3 Years) The 100A (18 ckts, 20A
plug-in breakers, 1P) load center is approaching the end of its expected useful life.

Replace the existing load center with a new load center. $4,700 $5,550
1153 Wilson Park Recreation
Building
D5040 - Lighting 3 - Impending (2-3 Years) Interior lighting system is at or is approaching end of its expected useful life.

Provide new interior
lighting and control system
throughout building per current CEC T24 code.
$78,340 $92,450
215 Wilson Park Recreation
Building
D5040 - Lighting 3 - Impending (2-3 Years) The exterior wall mounted fixture is approaching the end of its expected useful
life.

Replace the existing wall mounted lighting fixture with an LED lighting fixture.
$2,190 $2,590
279 Wilson Park Recreation
Building
G2060 - Site Development 3 - Impending (2-3 Years) Bench finish is at or approaching the end of its
useful life.

Repaint and refinish
bench.
$610 $720
284 Wilson Park Restroom B2010 - Exterior Walls 3 - Impending (2-3 Years) Trim is worn and should be replaced.

Replace trim and finish to match. Replace at the
same time as siding.
$6,160 $7,270
280 Wilson Park Restroom B3010 - Roofing 3 - Impending (2-3 Years) Wood fascia and trim chipped and have peeling
paint.

Clean, repair, and paint the
trim and/or fascia.
$6,910 $8,160

DETAIL BY BUILDING Highlighted Rows are likely to require Engineering Services 676
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Building Condition Assessment Report, February 2023
ID# Location Name Building System Classification Priority Deficiency Description Description of Work Current Repair Cost Escalated Repair Costs 281 Wilson Park Restroom C1090 - Interior Specialties 3 - Impending (2-3 Years) Toilet partitions have excessive amounts of rust.

Replace the toilet partitions $11,110 $13,110
1154 Wilson Park Restroom D5040 - Lighting 3 - Impending (2-3 Years) The exterior wall mounted fixture is approaching the end of its expected useful
life.

Replace the existing wall mounted lighting fixture with an LED lighting fixture.
$2,190 $2,590
213 Wilson Park Restroom D5040 - Lighting 3 - Impending (2-3 Years) The light fixtures utilize inefficient incandescent
lamps.

Replace existing incandescent fixtures with
LED fixtures.
$3,470 $4,100
285 Wilson Park Snack Shack B3020 - Roof
Appurtenances
3 - Impending (2-3 Years) Rain leaders/gutters are
damaged and leak.

Repair, replace rain
leaders/gutters.
$3,710 $4,380
289 Wilson Park Snack Shack C2030 - Flooring 3 - Impending (2-3 Years) Vinyl composition tile is approaching the end of its
useful life.

Remove the existing vinyl composition tile and
replace.
$6,030 $7,120
291 Wilson Park Snack Shack D2010 - Domestic Water
Distribution
3 - Impending (2-3 Years) Porcelain sink is
approaching the end of its
expected useful life.

Provide equipment replacement and
installation.
$7,710 $9,100
219 Wilson Park Snack Shack D5040 - Lighting 3 - Impending (2-3 Years) The light fixtures utilize inefficient incandescent
lamps.

Replace existing incandescent fixtures with
LED fixtures.
$11,540 $13,620
Wilson Park Recreation Bldg, Restroom and Snack Shack $219,300 $258,870Total $28,909,270 $33,797,360

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9. From the 2022 Playground
Prioritizations
FY 2023-24 CIP 5-Year Plan 9. PLAYGROUNDS
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PLAYGROUND PRIORITIZATION LIST
Playground Age Manufacturer Year Priority Equipment Observation Recommendation Photos Outreach ADA notes Canyon Oaks Preschool Gametime 1999 1 Slide
There is a gap between the slide bed and the platform that might catch clothing, especially strings or cords that children could have around their necks. Slides should not have any spaces or gaps between the platform, section seams, or the start of the slidechute.

The manufacturer should be contacted to determine what actions are appropriate to correct the gap.

Canyon Oaks Preschool Gametime 1999 3 Webs
There are spider webs in several areas of the composite structure. The spider webs should be removed. The undersides of all platforms should be inspected regularly to ensure hazards posed by insects are controlled.

Canyon Oaks Preschool Gametime 1999 3 Platform
The coating on several platforms is beginning to crack. This damage could compromise the integrity of the structure if the metal is exposed to the elements. The cracking could also present a trip hazard for children using the platform.

The manufacturer should be contacted to determine what corrective actions can be taken to repair the coating on the platform.

Canyon Oaks Preschool Gametime 1999 4 Play Surface
Play surfaces throughout the playground showed signs of vandalism. The play surfaces should be cleaned in accordance with the manufacturers’ instructions.

Creekside School Landscape Structures 1998 1 Slide
Gaps were observed between the section seams of the slide that might catch clothing, especially strings or cords that children could have around their necks. To avoid potential entanglement hazards, slides should not have any spaces or gaps between the platform, section seams, or at the start of the slide chute.

The manufacturer should be contacted to determine what steps should be taken to eliminate the entanglement hazard.

Creekside School Landscape Structures 1998 2
Loose Fill
Surfacing
Material
The loose fill surfacing material is not level with the top of the recommended surfacing mark.This may indicate that the depth of the loose fill material is inadequate.

The City should ensure the loose fill surfacing material is maintained at the required depth and is evenly distributed throughout the playground equipment area.

Creekside School Landscape Structures 1998 2 Platform
There were bolts on the underside of some of the platforms that have two nuts on each bolt. Projections on playground equipment should not be able to entangle children’s clothing nor should they be large enough to cause an impalement hazard.

One nut should be removed, and the bolt should be trimmed so that no more than two threads protrude. Any sharp edges or burrs should be removed.

Creekside School Landscape Structures 1998 2 Bolts
Rusted bolts were noted on the structure. Rust is a sign of metal deterioration, which may eventually compromise the structural strength of the equipment.

Bolts and other hardware on all equipment should be checked on a regular basis and replaced in accordance withthe manufacturer’s requirements. The City should review its playground maintenance program to ensure high-frequency inspections are conducted and documented.

Creekside School Landscape Structures 1998 3 Paint
Some of the surfaces of the composite structure showed signs of worn, chipping, or peeling paint. This may result in a child accidentally ingesting paint, and if the painted surfaces contain lead, there is the possibility of lead poisoning. In addition, having exposed areas of bare metal may cause increased deterioration in the components as a result of exposure to weather conditions.

The manufacturer should be contacted to determine what steps should be taken to repaint surface.

Creekside School Landscape Structures 1998 4 Play Surface Play surfaces throughout the playground showed signs of vandalism. The play surfaces should be cleaned in accordance with the manufacturer’s instructions.
• 5 items related to path of travel work including play equipment area. • Cost: $18,000• Transition plan has listed only 9 items total for this playground.• 3 items related to path of travel work including play equipment area.• Cost: $25,000 No
Yes
PAGE 1 OF 2
Note: Playground Inspections were conducted by an outside consultant, and these prioritizations were developed by PW Staff. 679
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PLAYGROUND PRIORITIZATION LIST
Oak Valley Preschool Gametime 1999 2 Bolts
There are missing bolts from portals. All fastening devices are required to provide structural strength.

The missing bolt should be replaced with manufacturer- approved hardware and in accordance with the manufacturer’s installation instructions.

Oak Valley Preschool Gametime 1999 2 Skylight
The surface of the skylight has a crack. Cracks will expand in time, which increases the risk of injury.

The skylight should be checked, and the manufacturer of the composite structure contacted regarding the repair or the replacement of the porthole.

Oak Valley Preschool Gametime 1999 3 Platform
The coating on several platforms is beginning to crack. This damage could compromise the integrity of the structure if the metal is exposed to the elements. The cracking could also present a trip hazard for children using the platform.

The manufacturer should be contacted to determine what corrective actions can be taken to repair the coating on the platform.

Varian Preschool Gametime 1998 2 Bolts
Rusted bolts were noted on the play structure. Rust is a sign of metal deterioration, which may eventually compromise the structural strength of the equipment.

Bolts and other hardware on all equipment should be checked on a regular basis and replaced in accordance with the manufacturer's requirements. The City should review its playground maintenance program to ensure high-frequency inspections are conducted and documented.

Varian Preschool Gametime 1998 3 Paint
Some of the surfaces of the composite structure showed signs of worn, chipping, or peeling paint. This may result in a child accidentally ingesting paint, and if the painted surfaces contain lead, there is the possibility of lead poisoning. In addition, having exposed areas of bare metal may cause increased deterioration in the components as a result of exposure to weatherconditions.

The manufacturer should be contacted to determine what steps should be taken to repaint surfaces.

Varian Preschool Gametime 1998 3 Slide
The surfaces of the slides appear to have cracks. Cracks on the slide bed will increase with time, which increases the risk of injury.

Contact the manufacturer of the composite structure for information on repairing the slide beds. • 3 items on the path of travel.The play equipment area was NOT called out. • Cost: $15,000• Transition plan has listed only 5 items total for this playground.• 6 items on the path of travel, including play equipement area. • Cost: $13,000 No
Yes
PAGE 2 OF 2
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CITY OF CUPERTINO
Agenda Item
22-11716 Agenda Date: 3/7/2023
Agenda #: 13.

Subject: Consider the Monthly Treasurer's Report for January 2023 Receive the Monthly Treasurer's Report for January 2023 CITY OF CUPERTINO Page 1 of 1 Printed on 2/28/2023
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1 CITY COUCIL STAFF REPORT
Meeting: March 7, 2023
Subject
Consider the Monthly Treasurer's Report for January 2023 Recommended Action
Receive the Monthly Treasurer's Report for January 2023 Reasons for Recommendation
Background
California Government Code Section 41004 states:

Regularly, at least once each month, the city treasurer shall submit to the city clerk a written report and accounting of all receipts, disbursements, and fund balances.

The city treasurer shall file a copy with the legislative body.

The City's Municipal Code Section 2.24.030 Monthly Reports states:

The Treasurer shall make monthly reports which conform to the requirements of Government Code Section 41004. Said reports shall be delivered to the City Council, the City Manager and made available for review by such other persons who may so request.

Lastly, the City's Municipal Code Section 2.88.100 Duties–Powers–Responsibilities lists one of the powers and functions of the Audit Committee is "to review the monthly Treasurer's report."
Per the referenced code provisions, a Treasurer's Report (report and accounting of all receipts, disbursements, and fund balances) shall be submitted to the Audit Committee and City Council every month.
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2 Cash vs. Accrual Basis Accounting
Cash basis accounting and accrual basis accounting differ in the way revenues and expenses are recognized and recorded, primarily with regard to their timing.

Under cash basis accounting, revenues are recorded when payment is received, and expenses are recorded when payment is made. This method of accounting recognizes transactions only when cash changes hands. In contrast, accrual basis accounting recognizes revenues when they are earned (but not necessarily received) and expenses when they are incurred (but not necessarily paid). This method of accounting recognizes transactions as they occur, regardless of whether cash has been exchanged.

Receipts, disbursements, and cash balance are measured on a cash basis. The cash balance shows the total cash and investments in the City's accounts. The ending balance is the beginning balance plus receipts minus disbursements. Journal adjustments generally include transactions recorded in other systems and imported into New World, Councilapproved budget adjustments, quarterly Cost Allocation Plan (CAP) charges, and quarterly interest earnings.

Revenues, expenditures, and fund balance are measured on an accrual basis. As a result, the amount in fund balance does not mean the City has that much cash on hand. Instead, fund balance is the difference between assets and liabilities. The ending balance is the beginning balance plus revenues minus expenditures.

Treasurer's Report
The report provides an update on the City's cash and fund balances for January 2023. The report is as of February 22, 2023.

Receipts, Disbursements, and Cash Balance
The City's General Fund ending cash and investment balance was $123.7 million, an increase of $8.7 million from the prior month. Receipts were $16.6 million, disbursements were $(8.0) million, and journal adjustments were $31,994 for the month.

The City's total ending cash and investment balance was $229.6 million, an increase of $9.0 million from the prior month. Receipts were $18.5 million, disbursements were $(9.8) million, and journal adjustments were $0.4 million for the month.

Journal adjustments included the following:
 Parks and Recreation transactions imported from Active Network into New World  LAIF interest deposit
Fund Balance/Net Position
The City's General Fund ending fund balance was $108.7 million, increasing by $5.2 million from the prior month due to revenues of $10.3 million and expenditures of $5.0 million.
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3 The City's total ending fund balance was $209.6 million, increasing by $5.2 million from the prior month due to revenues of $12.4 million and expenditures of $7.2 million.

Sustainability Impact
No sustainability impact.

Fiscal Impact
No fiscal impact.

California Environmental Quality Act
Not applicable.
_____________________________________
Prepared by: __________________
Thomas Leung
Budget Manager
Reviewed by: __________________
Kristina Alfaro
Director of Administrative Services
Approved for Submission by: __________________
Pamela Wu
City Manager
Attachments:

A – Report of City-wide Receipts, Disbursements, and Cash Balances January 2023 B – Report of City‐wide Fund Balances/Net Position January 2023 684
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January 2023 Report of City‐wide Receipts, Disbursements, and Cash Balances Cash and Investments
Beginning Balance Ending Balance
Fund Type Fund Number/Name as of December 31, 2022 Receipts Disbursements Journal Adjustments as of January 31, 2023 General Fund 100 General Fund 115,008,062 16,646,536 (7,987,551) 31,994 123,699,041 General Fund 130 Investment Fund 79,400 ‐ ‐ 110,596 189,996 Special Revenue Funds 210 Storm Drain Improvement 2,155,411 ‐ ‐ ‐ 2,155,411 Special Revenue Funds 215 Storm Drain AB1600 1,822,937 4,723 ‐ ‐ 1,827,660Special Revenue Funds 230 Env Mgmt Cln Crk Strm Drain 459,305 860,146 (93,656) ‐ 1,225,795 Special Revenue Funds 260 CDBG 653,438 1,324 (16,658) ‐ 638,104 Special Revenue Funds 261 HCD Loan Rehab 221,894 ‐ ‐ ‐ 221,894 Special Revenue Funds 265 BMR Housing 5,549,370 3,060 (33,689) ‐ 5,518,741 Special Revenue Funds 270 Transportation Fund 11,157,220 714,965 (154,191) ‐ 11,717,995Special Revenue Funds 271 Traffic Impact 761,839 ‐ ‐ ‐ 761,839 Special Revenue Funds 280 Park Dedication 19,791,103 16,767 (95,818) ‐ 19,712,052 Special Revenue Funds 281 Tree Fund 72,355 481 ‐ ‐ 72,836Debt Service Funds 365 Public Facilities Corp 2,322,250 ‐ ‐ ‐ 2,322,250 Capital Project Funds 420 Capital Improvement Fund 27,360,860 ‐ (479,940) ‐ 26,880,920Capital Project Funds 427 Stevens Creek Corridor Park 161,581 ‐ ‐ ‐ 161,581 Capital Project Funds 429 Capital Reserve* 11,620,392 ‐ ‐ ‐ 11,620,392 Enterprise Funds 520 Resource Recovery 5,649,354 205,147 (277,204) ‐ 5,577,296Enterprise Funds 560 Blackberry Farm 1,112,205 1,896 (42,435) 25,758 1,097,424Enterprise Funds 570 Sports Center 1,627,599 ‐ (58,676) 131,379 1,700,302Enterprise Funds 580 Recreation Program 3,291,010 ‐ (50,445) 51,948 3,292,513Internal Service Funds 610 Innovation & Technology 4,212,330 ‐ (354,582) ‐ 3,857,748 Internal Service Funds 620 Workersʹ Compensation 3,758,016 ‐ (3,302) ‐ 3,754,714 Internal Service Funds 630 Vehicle/Equip Replacement 1,233,117 ‐ (73,717) ‐ 1,159,400 Internal Service Funds 641 Compensated Absence/LTD 1,235,962 ‐ 794 ‐ 1,236,756 Internal Service Funds 642 Retiree Medical (662,223) ‐ (116,596) ‐ (778,819)Total $ 220,654,789 $ 18,455,044 $ (9,837,667) $ 351,676 $ 229,623,842 * For reporting purposes, this fund rolls up/combines with Fund 420Printed February 22, 2023For more information on funds, please see cupertino.org/fund‐structure 685
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January 2023 Report of City‐wide Fund Balances/Net Position Beginning Fund Balance Ending Fund Balance
Fund Type Fund Number/Name as of December 31, 2022 Revenues Expenditures as of January 31, 2023 General Fund 100 General Fund 103,479,047 10,259,485 5,015,403 108,723,129 General Fund 130 Investment Fund 229,425 ‐ ‐ 229,425
Special Revenue Funds 210 Storm Drain Improvement 2,155,411 ‐ 75 2,155,336 Special Revenue Funds 215 Storm Drain AB1600 1,822,937 4,723 ‐ 1,827,660 Special Revenue Funds 230 Env Mgmt Cln Crk Strm Drain 527,284 806,855 120,612 1,213,528 Special Revenue Funds 260 CDBG 1,179,909 331 16,658 1,163,582 Special Revenue Funds 261 HCD Loan Rehab 221,894 ‐ ‐ 221,894Special Revenue Funds 265 BMR Housing 5,548,470 3,060 34,153 5,517,377 Special Revenue Funds 270 Transportation Fund 11,497,633 371,517 150,300 11,718,851 Special Revenue Funds 271 Traffic Impact 761,839 ‐ ‐ 761,839 Special Revenue Funds 280 Park Dedication 19,791,103 16,767 95,818 19,712,052 Special Revenue Funds 281 Tree Fund 72,355 481 ‐ 72,836 Debt Service Funds 365 Public Facilities Corp 2,322,250 ‐ ‐ 2,322,250 Capital Project Funds 420 Capital Improvement Fund 24,351,580 462,480 529,423 24,284,637 Capital Project Funds 427 Stevens Creek Corridor Park 161,581 ‐ ‐ 161,581 Capital Project Funds 429 Capital Reserve* 11,620,392 ‐ ‐ 11,620,392 Enterprise Funds 520 Resource Recovery 4,779,280 205,147 357,047 4,627,379 Enterprise Funds 560 Blackberry Farm 819,181 28,665 41,434 806,411 Enterprise Funds 570 Sports Center 1,968,077 180,889 84,365 2,064,601 Enterprise Funds 580 Recreation Program 2,916,315 75,062 50,445 2,940,932 Internal Service Funds 610 Innovation & Technology 2,985,759 ‐ 479,636 2,506,123 Internal Service Funds 620 Workersʹ Compensation 2,128,820 ‐ 3,302 2,125,518 Internal Service Funds 630 Vehicle/Equip Replacement 2,446,272 ‐ 72,920 2,373,352 Internal Service Funds 641 Compensated Absence/LTD 1,235,962 8,837 8,043 1,236,756 Internal Service Funds 642 Retiree Medical (662,223) ‐ 116,596 (778,819) Total $ 204,360,552 $ 12,424,300 $ 7,176,231 $ 209,608,622 * For reporting purposes, this fund rolls up/combines with Fund 420 Printed February 22, 2023For more information on funds, please see cupertino.org/fund‐structure 686
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CITY OF CUPERTINO
Agenda Item
22-11717 Agenda Date: 3/7/2023
Agenda #: 14.

Subject: Consider the Monthly Treasurer's Investment Report for January 2023 Receive the Monthly Treasurer's Investment Report for January 2023 CITY OF CUPERTINO Page 1 of 1 Printed on 2/28/2023
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1 CITY COUNCIL STAFF REPORT
Meeting: March 7, 2023
Subject
Consider the Monthly Treasurer's Investment Report for January 2023 Recommended Action
Receive the Monthly Treasurer's Investment Report for January 2023 Reasons for Recommendation
Background
On May 19, 2022, the City Council approved the City's Investment Policy. Per the City's Investment Policy, the Treasurer shall submit monthly transaction reports to the City Council within 30 days of the end of the reporting period per California Government Code Section 53607. In addition to the monthly transaction reports, quarterly investment reports are submitted to the City Council approximately 45 days following the end of the quarter.

The quarterly investment report offers a more extensive discussion of the City's economy, cash flow, and investments.

The City's Municipal Code Section 2.24.050 Investment Authority states that the Treasurer shall make a monthly report of all investment transactions to the City Council. Lastly, the City's Municipal Code Section 2.88.100 Duties–Powers–Responsibilities lists one of the powers and functions of the Audit Committee is "to review the monthly Treasurer's report."
Per the referenced code provisions, a Treasurer's Investment Report shall be submitted to the Audit Committee and City Council every month.

Treasurer's Investment Report
The report provides an update on the City's investment portfolio for the month ending January 31, 2022. The report is as of February 22, 2023.

The attached statements include balances and transactions of the City's investments with the Local Agency Investment Fund (LAIF) and Chandler Asset Management. While not governed by the City's Investment Policy, statements for the Public Agency Retirement 688
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2 Services (PARS) Section 115 Trusts are also attached per a request from the Monthly Treasurer's Report Subcommittee.

The City's General Ledger cash and investments balance was $229.6 million, a $9.0 million increase from the prior month due to receipts of $18.5 million, disbursements of $(9.8) million, and journal adjustments of $0.4 million.

Cash and Investments – General Ledger Balance
Fund Type
Month Ending
December 31,
2022
Receipts Disbursements Journal
Adjustments*
Month Ending
January 31,
2023
General Fund 115,087,462 16,646,536 (7,987,551) 142,590 123,889,038 Special Revenue 42,644,873 1,601,466 (394,012) - 43,852,327 Debt Service 2,322,250 - - - 2,322,250
Capital Projects 39,142,833 - (479,940) - 38,662,893
Enterprise 11,680,168 207,042 (428,761) 209,085 11,667,535 Internal Service 9,777,203 - (547,403) - 9,229,800
Total $220,654,789 $18,455,044 $(9,837,667) $351,676 $229,623,842 *Journal adjustments include transactions recorded in other systems and imported into the financial system, Council-approved budget adjustments, quarterly Cost Allocation Plan (CAP) charges, and quarterly interest earnings.
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3 The $229.6 million in cash and investments includes $41.8 million in cash, $21.2 million in cash equivalents, $149.4 million in investments, and $17.2 million restricted for funding pension costs.

The City pools cash for all funds except restricted funds. However, the City accounts for interest earnings, revenues, and expenditures separately for each fund to adequately meet the purpose and restrictions of each funding source. Pooling funds is a common and appropriate practice used in public agencies. By pooling funds, the City can benefit from economies of scale, diversification, liquidity, and ease of administration. 690
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4 Cash and Investments – General Ledger Balance
Month Ending
December 31,
2022
Month Ending
January 31, 2023
% of
Portfolio
Cash in banks and on hand
Operating Checking (Wells Fargo) 32,892,228 41,750,685 18% Workers' Compensation Checking (Wells Fargo) 31,453 31,453 0% Payroll Checking (Wells Fargo) - - 0%
Restricted for Bond Repayments1(BNY Mellon) - - 0%
Petty Cash and Change 5,000 5,000 0%
Cash Equivalents
Local Agency Investment Fund 21,131,545 21,242,141 9%
Investments
Investments (Chandler) 149,354,513 149,354,513 65%
Restricted for Pension2(PARS) 17,240,051 17,240,051 8%
Total Cash and Investments3 $220,654,789 $229,623,842 100% 1 Cash held by fiscal agent for bond repayments
2 In accordance with GASB 67/68, the assets in the Section 115 Pension Trust are reported as restricted cash and investments in the General Fund. The assets can only be used to fund CalPERS costs. 3 Assets in the Section 115 OPEB Trust are excluded as the City cannot use these assets to fund its own operations. The assets are held in trust for retirees' post-employment health benefits.

The table below shows the bank balances for the City's cash and investments. Bank and General Ledger balances differ due to timing. Bank balances do not include outstanding checks and deposits in transit. The General Ledger is updated quarterly with interest earnings and annually with the year-end investment market values.

Cash and Investments – Bank Balance
Month Ending
December 31,
2022
Month Ending
January 31, 2023
% of
Portfolio
Cash in banks and on hand
Operating Checking (Wells Fargo) 33,821,218 42,673,289 18% Workers' Compensation Checking (Wells Fargo) 33,538 25,873 0% Payroll Checking (Wells Fargo) - - 0%
Restricted for Bond Repayments1(BNY Mellon) 8,333 - 0%
Cash Equivalents
Local Agency Investment Fund 21,170,973 21,281,569 9%
Investments
Investments (Chandler) 147,282,846 148,742,480 64%
Restricted for Pension2(PARS) 17,395,501 18,507,647 8%
Total Cash and Investments3 $219,712,409 $231,230,858 100% 691
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5 1 Cash held by fiscal agent for bond repayments
2 In accordance with GASB 67/68, the assets in the Section 115 Pension Trust are reported as restricted cash and investments in the General Fund. The assets can only be used to fund CalPERS costs. 3 Assets in the Section 115 OPEB Trust are excluded as the City cannot use these assets to fund its own operations. The assets are held in trust for retirees' post-employment health benefits.

Local Agency Investment Fund (LAIF)
LAIF is an investment pool administered by the State of California Treasurer and governed by California Government Code. The City can withdraw funds from LAIF at any time. As a result, the City uses LAIF for short-term investment, liquidity, and yield.

The City's LAIF account had a balance of $21.3 million, an increase of $110,596 due to interest earned. Interest is deposited quarterly. The interest rate was 2.07%.

Investment Portfolio
In FY 2018-19, the City conducted a Request for Proposal (RFP) for investment management services and selected Chandler Asset Management. Under the City's Treasurer's direction, Chandler Asset Management manages the City's investment portfolio in accordance with the City's investment objectives. The City's investment objectives, in order of priority, are to provide:
 Safety to ensure the preservation of capital in the overall portfolio  Sufficient liquidity for cash needs
 A market rate of return consistent with the investment program The performance objective is to earn a total rate of return through a market cycle equal to or above the return on the benchmark index. Chandler Asset Management invests in highquality fixed-income securities consistent with the City's Investment Policy and California Government Code to achieve the objective.

The portfolio's market value was $148.7 million, compared to $147.3 million at the end of the previous month. The table below includes historical comparisons of the City's portfolio.
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6 November 30,
2022
December 31,
2022
January 31,
2023
Market Value 147,091,668 147,282,846 148,742,480
Par Value 155,927,174 156,155,965 156,310,484
Book Value 155,696,350 155,929,700 156,105,058
Average Maturity 2.74 years 2.62 years 2.66 years
Average Modified Duration 2.34 2.28 2.28
Average Purchase Yield 1.69% 1.70% 1.73%
Average Market Yield 4.56% 4.63% 4.39%
Average Quality1 AA/Aa1 AA/Aa1 AA/Aa1
1 S&P and Moody's respectively
The portfolio's market value fluctuates depending on interest rates. When interest rates decrease after an investment is purchased, the market value of the investment increases.

In contrast, when interest rates increase after an investment is purchased, the market value of the investment decreases. At the time of purchase, the City intends to hold all investments until maturity, meaning that changes in market value will not impact the City's investment principal. If the market value decreases, the City will incur an unrealized loss. However, the loss will only be realized if the City sells its investments before their maturity. The market values for the portfolio were provided by Chandler Asset Management.

Section 115 Trust Investment Portfolio
The City established Section 115 Trusts to reduce pension rate volatility and pre-fund Other Post-Employment Benefits (OPEB) costs. These trusts are a tax-exempt investment tool that local governments can use to set aside funds for pension and retiree health costs.

Contributions made to the trust can only be used to fund retirement plans.

Investments in the Section 115 Trusts are governed by separate investment policies, which are distinct from the City's Investment Policy. On December 6, 2022, City Council approved the Pension Trust Investment Policy and OPEB Trust Investment Policy. Public Agency Retirement Services (PARS) administers the trust, while US Bank manages the investments in accordance with the approved investment policies.

Both Section 115 Trusts are invested in "balanced" portfolios. The investment objective is designed to provide a moderate amount of current income with moderate growth of capital. This type of investment strategy is generally recommended for investors with a long-term time horizon. The strategic asset allocation ranges for this investment objective are:
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7 Asset Class Range Target
Equities 50-70% 63%
Fixed Income 20-40% 29%
Real Estate 0-15% 5%
Commodities 0-10% 2%
Cash 0-10% 1%
The Section 115 Pension Trust had a balance of $18.5 million, an increase of $1.1 million from the prior month due to investment gains. The Section 115 OPEB Trust had a balance of $33.7 million, an increase of $2.0 million from the prior month due to investment gains.

The one-month investment returns were 6.42% for both the Pension Trust and OPEB Trust.

Compliance
All of the City's investments comply with state law and the City's Investment Policy. In compliance with California Government Code 53646 (b)(3), the City maintains the ability to meet its expenditure requirements for the next six months.

Sustainability Impact
No sustainability impact.

Fiscal Impact
No fiscal impact.

California Environmental Quality Act
Not applicable.
_____________________________________
Prepared by: __________________
Thomas Leung
Budget Manager
Reviewed by: __________________
Kristina Alfaro
Director of Administrative Services
Approved for Submission by: __________________
Pamela Wu
City Manager
Attachments:

A – Chandler Investment Report January 2023
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8 B – Chandler Custodial Statement January 2023
C – PARS Pension and OPEB Account Statement January 2023 D – LAIF Account Statement January 2023
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CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com

INVESTMENT REPORT
Period Ending January 31, 2023
City of Cupertino
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SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Portfolio Holdings
SECTION 4 Transactions
Table of Contents As of January 31, 2023
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SECTION | Section 1 | Economic Update
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Economic Update



Market volatility has intensified as investors weigh the probabilities of a hard or soft economic landing. The strong labor market has helped sustain economic growth. Inflation metrics are trending downward but remain significantly higher than the Federal Reserve’s target. Financial conditions have eased, and credit spreads have narrowed over the last quarter.

Geopolitical risks remain as the Russia/Ukraine war persists and China reopens, while domestically the debt ceiling risk has emerged. As uncertainty has grown, the consensus market view has diverged from the Federal Reserve’s projected rate path. While evidence of slower economic conditions has begun to mount, we believe the Federal Reserve will continue to tighten monetary policy at a slower pace and remain restrictive forsome time, and uncertainty will continue to fuel market volatility.

As expected at the February 1st meeting, the Federal Open Market Committee (FOMC) raised the fed funds target rate by 25 basis points to a range of 4.50 - 4.75%, in a continuing downshift from previous hikes. The decision was unanimous and the statement reflects inflation is easing “somewhat.” The sentiment was hawkish, indicating that the extent of “ongoing increases” in the fed funds rate will be data dependent. We believe the FOMC will continue to implement tighter monetary policy at a slower pace and hold rates at restrictive levels forsome time until inflationary pressures subside and remain in the Fed’s target range.

In January, the yield curve inversion widened. The 2-year Treasury yield decreased 23 basis points to 4.20%, the 5-year Treasury yield decreased 39 basis points to 3.62%, and the 10-year Treasury yield declined 37 basis points to 3.51%. The inversion between the 2-year Treasury yield and 10-year Treasury yield increased to -69 basis points at January month-end versus -55 basis points at December month-end. The spread was a positive 60 basis points one year ago. The inversion between 3-month and 10-year treasuries increased to -115 basis points in January from -50 basis points in December. The year 2022 saw a dramatic shift in the Federal Reserve’s policy from highly accommodative to aggressive tightening, resulting in significantly higher rates and an inverted yield curve. The shape of the yield curve indicates that the probability of recession is increasing.
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Source: US Department of Labor Source: US Department of Labor Employment
The U.S. economy added a whopping 517,000 jobs in January, far surpassing market expectations of 189,000 jobs and December’s upwardly revised 260,000 jobs. Trends in employment remain strong, with the three-month moving average payrolls at 356,000 and the six-month moving average at 349,000. Job growth was widespread, led by roles in the private sector with leisure and hospitality employment growth remaining solid. The unemployment rate dipped to 3.4%, below its pre-pandemic level. The labor participation rate increased slightly to 62.4% in January from 62.3% in December, indicating the supply of labor remains challenging for employers. The U-6 underemployment rate, which includes those who are marginally attached to the labor force and employed part time for economic reasons increased to 6.6% from the prior month at 6.5%. Average hourly earnings rose 4.4% year-over-year in January, down from an upwardly revised 4.8% increase in December. Job Openings increased to 11million with the openings rate increasing in establishments with 50-249 employees but decreasing in establishments with more than 5,000 employees. Overall, the January employment report demonstrates a strong demand for labor and supports the case for the Fed to continue raising the federal funds rate at a slower pace. 0 100
200
300
400
500
600
700
800
900
1,000
MOM Change In (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3 month average (000's)

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
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Source: US Department of Labor Source: US Department of Commerce Inflation
The Consumer Price Index (CPI) increased in January by 0.5% month-over-month and 6.4% year-over-year. The Core CPI, which excludes volatile food and energy components, rose 0.4% month-over-month and 5.6% year-over-year. Both measures increased more than expected and showed a slower deceleration than in recent months. Energy, shelter, and food costs were key contributors to the January increase. The Personal Consumption Expenditures (PCE) index rose 5.0% year-over-year in December versus a 5.5% year-over-year gain in November. Core PCE increased 4.4% year-over-year in December versus a 4.7% year-over-year gain in November. Inflationary trends remain well above the Fed's 2% target and support further rate hikes and tighter conditions for an extended period.

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Core Deflator YOY % Change
YOY( %) Change

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YOY( %) Change
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Federal Reserve
Source: Federal Reserve Source: Bloomberg
As expected at the February 1st meeting, the Federal Open Market Committee (FOMC) raised the fed funds target rate by 25 basis points to a range of 4.50 – 4.75%, in a continuing downshift from previous hikes. The decision was unanimous, and the statement reflects inflation easing “somewhat”. The sentiment was hawkish, indicating that the extent of “ongoing increases” in the fed funds rate will be data dependent on labor market conditions, inflation expectations, and financial and international developments. The December Summary of Economic Projections indicated a peak median forecast of 5.1% in 2023 and no rate cuts until 2024; however, the market consensus diverged, implying rate cuts in the second half of 2023. FOMC members forecasted a higher fed funds rate, slower GDP growth, higher inflation, and higher unemployment in 2023 than in the September projections. We believe the FOMC will implement tighter monetary policy at a slower pace and hold rates at restrictive levels until inflationary pressures subside and remain in the Fed’s target range for some time.

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

5.00%
Effective Federal Funds Rate
Yield (%)
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
In $ millions
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Source: Bloomberg Source: Bloomberg

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Yield (%)

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Yield Curve
Jan-23
Oct-22
Jan-22
Yield (%)
Bond Yields
At the end of January, the 2-year Treasury yield was 302 basis points higher, and the 10-Year Treasury yield was about 173 basis points higher, year-over-year. The inversion between the 2-year Treasury yield and 10-year Treasury yield increased to -69 basis points at January month-end versus -55 basis points at December month-end. The average historical spread (since 2003) is about +130 basis points. The inversion between 3- month and 10-year treasuries increased to -115 basis points in January from -50 basis points in December. The shape of the yield curve indicates that the probability of recession is increasing. 7 703
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Section 2| SECTION | Section 2 | Account Profile
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Objectives
Chandler Asset Management Performance Objective
The performance objective for the portfolio is to earn a total rate of return through a market cycle that is equal to or above the return on the benchmark index.

Investment Objectives
The City of Cupertino’s investment objectives, in order of priority, are to provide safety to ensure the preservation of capital in the overall portfolio, provide sufficient liquidity for cash needs and a market rate of return consistent with the investment program.

Strategy
In order to achieve these objectives, the portfolio invests in high quality fixed incomes securities consistent with the investment policy and California Government Code.

As of January 31, 2023
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Compliance As of January 31, 2023
Category Standard Comment
Treasury Issues No Limitation Complies
Agency Issues 25% per Agency/GSE issuer; 20% max agency callable securities; Issued by Federal Agencies or U.S. Government Sponsored Enterprise obligations. Complies
Supranational "AA" rating category or better by a NRSRO; 30% maximum; 10% max per issuer; USD denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by IBRD, IFC, or IADB. Complies Municipal Securities
"A" rating category or better by a NRSRO; 30% maximum; 5% max per issuer; Obligations of the City, State of California, and any local agency within the State of California; Obligations of any of the other 49 states in addition to California, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by a state or by a department, board, agency, or authority of any of the other 49 states in addition to California.

Complies
Corporate Medium Term Notes "A" rating category or better by a NRSRO; 30% maximum; 5% max per issuer; Issued by corporations organized and operating within the U.S. or by depository institutions licensed by the U.S. or any state and operating within the U.S. Complies Asset Backed/ Mortgage Backed/
Collateralized Mortgage Obligation
"AA" rating category or better by a NRSRO; 20% maximum; 5% max per issuer on Asset-Backed or Commercial Mortgage security; There is no issuer limitation on any Mortgage security where the issuer is the U.S. Treasury or a Federal Agency/GSE .

Complies
Negotiable Certificates of Deposit (NCDs)
No rating required if amount of the NCD is insured up to the FDIC limit; If above FDIC insured limit, requires "A-1" short-term rated or "A" long-term rating category or better by a NRSRO; 30% maximum; 5% max per issuer; Issued by nationally or state chartered banks, state or federal savings associations, or state or federal credit unions, or by a federally licensed or statelicensed branch of a foreign bank.

Complies
Certificates of Deposit (CDs)/Time
Deposit (TDs)
30% maximum; 5% max per issuer; Certificates of Deposit, Time Deposit, non-negotiable, and collateralized in accordance with California Government Code. Complies
Banker’s Acceptances "A-1" short-term rated or better by a NRSRO; or "A" long-term rating category or better by a NRSRO; 40% maximum; 5% max per issuer; 180 days max maturity Complies
Commercial Paper
"A-1" short term rated or better a NRSRO; "A" long-term issuer rating category or better by a NRSRO; 25% maximum; 5% max per issuer; 270 days max maturity; Issued by corporations organized and operating in the U.S. with assets > $500 million; 10% max outstanding paper of the issuing corporation.

Complies
Money Market Funds
20% maximum; Daily money market funds administered for or by trustees, paying agents and custodian banks contracted by a City of Cupertino as allowed under California Government Code; Only funds holding U.S. Treasury obligations, Government agency obligations or repurchase agreements collateralized by U.S. Treasury or Government agency obligations can be utilized.

Complies
Local Agency Investment Fund (LAIF) Maximum amount permitted by LAIF; Not used by investment adviser Complies Repurchase Agreements 1 year max maturity; 102% collateralized; A PSA Master Repurchase Agreement is required between City of Cupertino and the broke/dealer or financial institution for all repurchase agreements; Not used by investment adviser Complies City of Cupertino
Assets managed by Chandler Asset Management are in full compliance with state law and with the City's investment policy. 10 706
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Compliance As of January 31, 2023
Category Standard Comment
Prohibited Securities
Reverse Repurchase Agreement; Common stocks; Long-term (> 5 years maturity) notes and bonds; Special circumstances arise that necessitate purchase of securities beyond the 5-year limitation. On such occasions, request must be approved by City Council prior to purchase; Futures/Options; Inverse floaters; Ranges notes, Mortgage-derived, Interest-only strips; Zero interest accrual securities; Purchasing/selling securities on margin; Foreign currency denominated securities.

Complies
Minimum Budgeted Operating
Expenditures in Short Term Investments
Minimum 6 months of budgeted operating expenditures in short term investments to provide sufficient liquidity for expected disbursements Complies
Max Per Issuer 5% per issuer, unless otherwise specified in the policy Complies Maximum maturity 5 years Complies
City of Cupertino
Assets managed by Chandler Asset Management are in full compliance with state law and with the City's investment policy. 11 707
CC 03-07-2023
707 of 773
Portfolio Summary – City of Cupertino #10659 As of January 31, 2023 12 708
CC 03-07-2023
708 of 773
Purchase Yield as of 01/31/23 = 1.73%

0.00 0.50

1.00 1.50

2.00 2.50
Percent (%)
Historical Average Purchase Yield
City of Cupertino
As of January 31, 2023
13 709
CC 03-07-2023
709 of 773
SECTION | Section 3 | Portfolio Holdings
14 710
CC 03-07-2023
710 of 773
Issue Name Investment Type % Portfolio
Government of United States US Treasury 31.92%
Federal National Mortgage Association Agency 8.85%
Federal Home Loan Mortgage Corp Agency 4.96%
Federal Home Loan Mortgage Corp CMO 3.86%
Inter-American Dev Bank Supranational 3.32%
Federal Home Loan Bank Agency 3.32%
John Deere ABS ABS 1.90%
American Express ABS ABS 1.90%
Hyundai Auto Receivables ABS 1.80%
Royal Bank of Canada Corporate 1.67%
Toyota Motor Corp Corporate 1.61%
Bank of New York Corporate 1.57%
Bank of America Corp Corporate 1.56%
JP Morgan Chase & Co Corporate 1.54%
International Finance Corp Supranational 1.54%
Intl Bank Recon and Development Supranational 1.47%
Toronto Dominion Holdings Corporate 1.43%
Northwestern Mutual Glbl Corporate 1.29%
Paccar Financial Corporate 1.25%
GM Financial Automobile Leasing Trust ABS 1.25%
Bank of Montreal Chicago Corporate 1.17%
Amazon.com Inc Corporate 1.14%
Metlife Inc Corporate 1.14%
Salesforce.com Inc Corporate 1.12%
Prudential Financial Inc Corporate 1.11%
Air Products & Chemicals Corporate 1.11%
Honda ABS ABS 1.10%
United Health Group Inc Corporate 1.08%
Toyota Lease Owner Trust ABS 1.07%
New York Life Global Funding Corporate 1.06%
Berkshire Hathaway Corporate 1.03%
Toyota ABS ABS 0.86%
Guardian Life Global Funding Corporate 0.84%
Hyundai Auto Lease Securitization ABS 0.83%
US Bancorp Corporate 0.81%
Caterpillar Inc Corporate 0.71%
GM Financial Securitized Term Auto Trust ABS 0.67%
Deere & Company Corporate 0.66%
Issuers
City of Cupertino – Account #10659
As of January 31, 2023
15 711
CC 03-07-2023
711 of 773
Issue Name Investment Type % Portfolio
Charles Schwab Corp/The Corporate 0.61%
Mass Mutual Insurance Corporate 0.60%
BMW Vehicle Lease Trust ABS 0.54%
State of California Municipal Bonds 0.50%
Northern Trust Corp Corporate 0.45%
Morgan Stanley Corporate 0.41%
Verizon Master Trust ABS 0.38%
BMW ABS ABS 0.35%
Verizon Owner Trust ABS 0.25%
Wal-Mart Stores Corporate 0.21%
Wells Fargo 100% Treasury MMKT Fund Money Market Fund 0.11% Nissan ABS ABS 0.08%
Mercedes-Benz Auto Lease Trust ABS 0.01%
TOTAL 100.00%
Issuers
City of Cupertino – Account #10659
As of January 31, 2023
16 712
CC 03-07-2023
712 of 773
Holdings Report
City of Cupertino - Account #10659
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
ABS
58769EAC2 Mercedes-Benz Auto Lease Trust 2020-B A3

0.400% Due 11/15/2023
16,551.04 09/15/2020

0.40%
16,550.20
16,551.04

99.82 5.35%
16,521.92

2.94 0.01%
(29.12)

NR / AAA
AAA

0.79 0.04
92348AAA3 Verizon Owner Trust 2019-C A1A

1.940% Due 04/22/2024
274.30 10/01/2019

1.95%
274.28
274.29

99.84 5.26%
273.85

0.16 0.00%
(0.44)

NR / AAA
AAA

1.22 0.05
89238EAC0 Toyota Lease Owner Trust 2021-A A3

0.390% Due 04/22/2024
481,084.45 03/23/2022

2.16%
471,462.76
476,998.77

98.80 4.98%
475,324.33

57.33 0.32%
(1,674.44)
Aaa / AAA
NR

1.22 0.26
44891VAC5 Hyundai Auto Lease Trust 2021-B A3

0.330% Due 06/17/2024
713,351.18 06/08/2021

0.34%
713,244.18
713,321.73

98.71 4.89%
704,113.64
104.62

0.47%
(9,208.09)
Aaa / AAA
NR

1.38 0.28
65479JAD5 Nissan Auto Receivables Owner 2019-C A3

1.930% Due 07/15/2024
118,729.00 Various

1.70%
119,318.00
118,931.19

99.70 5.16%
118,372.99
101.84

0.08%
(558.20)
Aaa / AAA
NR

1.45 0.09
43813DAC2 Honda Auto Receivables 2020-2 A3

0.820% Due 07/15/2024
48,206.24 05/18/2020

0.83%
48,202.45
48,204.91

98.77 5.09%
47,611.84

17.57 0.03%
(593.07)
Aaa / AAA
NR

1.45 0.29
47789KAC7 John Deere Owner Trust 2020-A A3

1.100% Due 08/15/2024
49,408.28 03/04/2020

1.11%
49,405.26
49,407.23

99.24 4.83%
49,031.32

24.16 0.03%
(375.91)
Aaa / NR
AAA

1.54 0.20
43813KAC6 Honda Auto Receivables Trust 2020-3 A3

0.370% Due 10/18/2024
259,883.67 09/22/2020

0.38%
259,845.49
259,874.00

97.97 5.24%
254,616.43

34.72 0.17%
(5,257.57)

NR / AAA
AAA

1.72 0.41
36262XAC8 GM Financial Auto Lease Trust 2021-3 A2

0.390% Due 10/21/2024
965,000.00 08/10/2021

0.39%
964,986.88
964,994.77

97.53 5.28%
941,202.71
115.00

0.63%
(23,792.06)

NR / AAA
AAA

1.72 0.50
47787NAC3 John Deere Owner Trust 2020-B A3

0.510% Due 11/15/2024
87,422.64 07/14/2020

0.52%
87,409.31
87,418.99

98.54 5.30%
86,142.58

19.82 0.06%
(1,276.41)
Aaa / NR
AAA

1.79 0.30
09690AAC7 BMW Vehicle Lease Trust 2021-2 A3

0.330% Due 12/26/2024
376,184.66 09/08/2021

0.34%
376,145.83
376,169.38

97.89 5.17%
368,231.14

20.69 0.25%
(7,938.24)
Aaa / NR
AAA

1.90 0.44
89236XAC0 Toyota Auto Receivables 2020-D A3

0.350% Due 01/15/2025
194,135.56 10/06/2020

0.36%
194,099.39
194,118.95

98.36 4.93%
190,948.92

30.20 0.13%
(3,170.03)

NR / AAA
AAA

1.96 0.36
44891WAC3 Hyundai Auto Lease Trust 2022-A A3

1.160% Due 01/15/2025
540,000.00 01/11/2022

1.16%
539,988.07
539,993.59

96.89 5.09%
523,197.58
278.40

0.35%
(16,796.01)
Aaa / AAA
NR

1.96 0.80
92290BAA9 Verizon Owner Trust 2020-B A

0.470% Due 02/20/2025
380,548.91 08/04/2020

0.48%
380,468.99
380,512.65

98.47 5.53%
374,730.70

54.65 0.25%
(5,781.95)
Aaa / NR
AAA

2.06 0.30
89238LAC4 Toyota Lease Owner Trust 2022-A A3

1.960% Due 02/20/2025
1,150,000.00 02/23/2022

1.98%
1,149,818.99
1,149,891.57

96.79 5.16%
1,113,134.80
688.72

0.75%
(36,756.77)

NR / AAA
AAA

2.06 1.01
36265MAC9 GM Financial Auto Lease Trust 2022-1 A3

1.900% Due 03/20/2025
945,000.00 02/15/2022

1.91%
944,991.87
944,995.41

96.99 5.17%
916,579.79
548.63

0.62%
(28,415.62)
Aaa / NR
AAA

2.13 0.93
05601XAC3 BMW Vehicle Lease Trust 2022-1 A3

1.100% Due 03/25/2025
450,000.00 01/11/2022

1.11%
449,932.73
449,964.67

97.14 5.14%
437,115.69

82.50 0.29%
(12,848.98)

NR / AAA
AAA

2.15 0.71
As of January 31, 2023
17 713
CC 03-07-2023
713 of 773
Holdings Report
City of Cupertino - Account #10659
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
43813GAC5 Honda Auto Receivables Trust 2021-1 A3

0.270% Due 04/21/2025
191,446.33 02/17/2021

0.27%
191,442.83
191,445.04

97.09 5.59%
185,865.80

14.36 0.12%
(5,579.24)
Aaa / NR
AAA

2.22 0.55
89240BAC2 Toyota Auto Receivables Owners 2021-A A3

0.260% Due 05/15/2025
695,916.59 02/02/2021

0.27%
695,787.43
695,870.00

97.23 5.34%
676,641.51

80.42 0.45%
(19,228.49)
Aaa / NR
AAA

2.29 0.54
44933LAC7 Hyundai Auto Receivables Trust 2021-A A3

0.380% Due 09/15/2025
451,348.32 04/20/2021

0.38%
451,300.83
451,328.31

96.64 5.78%
436,166.59

76.23 0.29%
(15,161.72)

NR / AAA
AAA

2.62 0.62
43815GAC3 Honda Auto Receivables Trust 2021-4 A3

0.880% Due 01/21/2026
460,000.00 11/16/2021

0.89%
459,903.03
459,938.54

95.20 5.06%
437,913.01
112.44

0.29%
(22,025.53)
Aaa / NR
AAA

2.98 1.16
47789QAC4 John Deere Owner Trust 2021-B A3

0.520% Due 03/16/2026
580,000.00 07/13/2021

0.52%
579,948.26
579,970.00

95.28 5.19%
552,606.77
134.04

0.37%
(27,363.23)
Aaa / NR
AAA

3.12 1.02
89238JAC9 Toyota Auto Receivables Trust 2021-D A3

0.710% Due 04/15/2026
430,000.00 11/09/2021

0.71%
429,990.84
429,994.26

94.83 5.33%
407,766.25
135.69

0.27%
(22,228.01)

NR / AAA
AAA

3.21 1.13
43815BAC4 Honda Auto Receivables Trust 2022-1 A3

1.880% Due 05/15/2026
740,000.00 02/15/2022

1.89%
739,888.70
739,921.13

95.31 4.94%
705,304.52
618.31

0.47%
(34,616.61)
Aaa / AAA
NR

3.29 1.55
44935FAD6 Hyundai Auto Receivables Trust 2021-C A3

0.740% Due 05/15/2026
1,330,000.00 Various

2.03%
1,296,371.65
1,306,694.22

95.04 5.24%
1,264,051.55
437.42

0.85%
(42,642.67)

NR / AAA
AAA

3.29 1.11
05602RAD3 BMW Vehicle Owner Trust 2022-A A3

3.210% Due 08/25/2026
530,000.00 05/10/2022

3.23%
529,972.44
529,978.73

97.62 4.83%
517,391.78
283.55

0.35%
(12,586.95)
Aaa / AAA
NR

3.57 1.50
362554AC1 GM Financial Securitized Term 2021-4 A3

0.680% Due 09/16/2026
350,000.00 10/13/2021

0.68%
349,991.08
349,994.44

94.58 5.57%
331,020.55

99.17 0.22%
(18,973.89)
Aaa / AAA
NR

3.63 1.12
47787JAC2 John Deere Owner Trust 2022-A A3

2.320% Due 09/16/2026
450,000.00 03/10/2022

2.34%
449,900.46
449,925.52

95.83 5.32%
431,253.23
464.00

0.29%
(18,672.29)
Aaa / NR
AAA

3.63 1.41
448977AD0 Hyundai Auto Receivables Trust 2022-A A3

2.220% Due 10/15/2026
1,010,000.00 03/09/2022

2.23%
1,009,961.12
1,009,971.67

95.94 4.94%
969,022.90
996.53

0.65%
(40,948.77)

NR / AAA
AAA

3.71 1.51
380146AC4 GM Financial Auto Receivables 2022-1 A3

1.260% Due 11/16/2026
295,000.00 01/11/2022

1.27%
294,974.36
294,982.35

94.83 6.04%
279,737.70
154.88

0.19%
(15,244.65)

NR / AAA
AAA

3.79 1.10
362585AC5 GM Financial Securitized ART 2022-2 A3

3.100% Due 02/16/2027
390,000.00 04/05/2022

3.13%
389,918.49
389,937.63

97.35 4.78%
379,661.61
503.75

0.26%
(10,276.02)
Aaa / AAA
NR

4.05 1.61
47800AAC4 John Deere Owner Trust 2022-B A3

3.740% Due 02/16/2027
655,000.00 07/12/2022

3.77%
654,937.45
654,946.84

97.80 4.91%
640,606.70
1,088.76

0.43%
(14,340.14)
Aaa / NR
AAA

4.05 1.95
02589BAA8 American Express Credit Accoun 22-1 A

2.210% Due 03/15/2027
1,545,000.00 03/21/2022

2.69%
1,524,359.77
1,530,335.57

95.32 4.57%
1,472,680.40
1,517.53

0.99%
(57,655.17)
Aaa / NR
AAA

4.12 2.02
02582JJT8 American Express Credit Trust 2022-2 A

3.390% Due 05/17/2027
1,375,000.00 05/17/2022

3.42%
1,374,695.85
1,374,766.64

97.69 4.50%
1,343,265.55
2,071.67

0.90%
(31,501.09)

NR / AAA
AAA

4.29 2.15
47800BAC2 John Deere Owner Trust 2022-C A3

5.090% Due 06/15/2027
1,050,000.00 10/12/2022

5.15%
1,049,918.52
1,049,924.93
101.11

4.69%
1,061,696.04
2,375.33

0.72%
11,771.11
Aaa / NR
AAA

4.37 2.46
As of January 31, 2023
18 714
CC 03-07-2023
714 of 773
Holdings Report
City of Cupertino - Account #10659
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
92348KAV5 Verizon Master Trust 2022-5 A1A

3.720% Due 07/20/2027
570,000.00 08/02/2022

3.75%
569,974.92
569,979.23

98.71 4.90%
562,641.62
647.90

0.38%
(7,337.61)

NR / AAA
AAA

4.47 1.47
TOTAL ABS 19,874,491.17 1.96%
19,809,382.71
19,831,528.19 5.04%
19,272,444.31
13,993.93

12.97%
(559,083.88)
Aaa / AAA
AAA

3.03 1.22
Agency
3137EAFA2 FHLMC Note

0.250% Due 12/04/2023
1,755,000.00 12/02/2020

0.28%
1,753,262.55
1,754,514.47

96.27 4.83%
1,689,513.93
694.69

1.14%
(65,000.54)
Aaa / AA+
AAA

0.84 0.82
3130A0XE5 FHLB Note

3.250% Due 03/08/2024
1,500,000.00 03/28/2019

2.27%
1,568,115.00
1,515,124.09

98.36 4.79%
1,475,424.00
19,364.58

1.00%
(39,700.09)
Aaa / AA+
NR

1.10 1.05
3130A1XJ2 FHLB Note

2.875% Due 06/14/2024
1,500,000.00 06/18/2019

1.96%
1,564,890.20
1,517,771.80

97.62 4.69%
1,464,273.00
5,630.21

0.99%
(53,498.80)
Aaa / AA+
NR

1.37 1.32
3135G0V75 FNMA Note

1.750% Due 07/02/2024
1,500,000.00 07/16/2019

1.96%
1,484,895.00
1,495,690.24

96.27 4.49%
1,444,056.00
2,114.58

0.97%
(51,634.24)
Aaa / AA+
AAA

1.42 1.38
3130A2UW4 FHLB Note

2.875% Due 09/13/2024
2,000,000.00 09/13/2019

1.79%
2,103,380.00
2,033,439.80

97.41 4.55%
1,948,244.00
22,041.67

1.32%
(85,195.80)
Aaa / AA+
AAA

1.62 1.54
3135G0W66 FNMA Note

1.625% Due 10/15/2024
1,975,000.00 Various

1.73%
1,965,802.75
1,971,778.63

95.65 4.30%
1,889,071.70
9,449.83

1.28%
(82,706.93)
Aaa / AA+
AAA

1.71 1.65
3135G0X24 FNMA Note

1.625% Due 01/07/2025
1,295,000.00 Various

1.38%
1,309,953.95
1,301,002.52

95.16 4.26%
1,232,368.62
1,402.92

0.83%
(68,633.90)
Aaa / AA+
AAA

1.94 1.87
3137EAEP0 FHLMC Note

1.500% Due 02/12/2025
2,365,000.00 02/13/2020

1.52%
2,363,178.95
2,364,259.61

94.95 4.12%
2,245,558.04
16,653.54

1.52%
(118,701.57)
Aaa / AA+
AAA

2.04 1.95
3135G03U5 FNMA Note

0.625% Due 04/22/2025
1,860,000.00 04/22/2020

0.67%
1,856,168.40
1,858,296.37

92.45 4.22%
1,719,508.62
3,196.88

1.16%
(138,787.75)
Aaa / AA+
AAA

2.22 2.16
3135G04Z3 FNMA Note

0.500% Due 06/17/2025
2,500,000.00 Various

0.50%
2,499,227.30
2,499,733.06

91.88 4.12%
2,296,952.50
1,527.78

1.55%
(202,780.56)
Aaa / AA+
AAA

2.38 2.32
3137EAEU9 FHLMC Note

0.375% Due 07/21/2025
1,250,000.00 07/21/2020

0.48%
1,243,775.00
1,246,925.04

91.33 4.10%
1,141,575.00
130.21

0.77%
(105,350.04)
Aaa / AA+
AAA

2.47 2.41
3135G05X7 FNMA Note

0.375% Due 08/25/2025
2,500,000.00 Various

0.48%
2,487,983.75
2,493,656.05

91.13 4.05%
2,278,192.51
4,062.51

1.53%
(215,463.54)
Aaa / AA+
AAA

2.57 2.50
3137EAEX3 FHLMC Note

0.375% Due 09/23/2025
2,500,000.00 Various

0.46%
2,489,362.80
2,494,254.56

90.99 4.00%
2,274,745.00
3,333.33

1.53%
(219,509.56)
Aaa / AA+
AAA

2.65 2.58
As of January 31, 2023
19 715
CC 03-07-2023
715 of 773
Holdings Report
City of Cupertino - Account #10659
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
3135G06G3 FNMA Note

0.500% Due 11/07/2025
2,500,000.00 Various

0.56%
2,492,700.00
2,495,949.96

90.95 3.99%
2,273,720.00
2,916.67

1.53%
(222,229.96)
Aaa / AA+
AAA

2.77 2.69
TOTAL Agency 27,000,000.00 1.08%
27,182,695.65
27,042,396.20 4.29%
25,373,202.92
92,519.40

17.12%
(1,669,193.28)
Aaa / AA+
AAA

2.00 1.94
CMO
3137BFE98 FHLMC K041 A2

3.171% Due 10/25/2024
1,300,000.00 07/01/2021

0.72%
1,398,414.06
1,350,622.46

97.60 4.61%
1,268,836.27
3,435.25

0.86%
(81,786.19)
Aaa / AAA
AAA

1.73 1.55
3137BLMZ8 FHLMC K049 A2

3.010% Due 07/25/2025
1,000,000.00 07/01/2021

0.87%
1,079,687.50
1,048,250.64

96.84 4.37%
968,406.00
2,508.33

0.65%
(79,844.64)

NR / NR
AAA

2.48 2.23
3137BLW95 FHLMC K050 A2

3.334% Due 08/25/2025
950,000.00 11/16/2021

1.17%
1,018,132.81
995,993.43

97.51 4.36%
926,371.48
2,639.42

0.62%
(69,621.95)

NR / NR
AAA

2.57 2.27
3137BM7C4 FHLMC K051 A2

3.308% Due 09/25/2025
440,000.00 03/15/2022

2.21%
453,079.69
449,765.75

97.44 4.34%
428,729.40
1,212.93

0.29%
(21,036.35)

NR / NR
AAA

2.65 2.35
3137BN6G4 FHLMC KO53

2.995% Due 12/25/2025
570,000.00 03/15/2022

2.29%
582,001.17
579,214.25

96.63 4.27%
550,770.66
1,422.63

0.37%
(28,443.59)

NR / NR
AAA

2.90 2.57
3137BSP72 FHLMC K058 A2

2.653% Due 08/25/2026
650,000.00 11/12/2021

1.35%
687,451.17
677,837.69

95.11 4.13%
618,193.68
1,437.04

0.42%
(59,644.01)

NR / NR
AAA

3.57 3.29
3137FBBX3 FHLMC K068 A2

3.244% Due 08/25/2027
1,000,000.00 09/28/2022

4.41%
950,664.06
954,050.13

96.91 3.98%
969,123.10
2,703.33

0.65%
15,072.97
Aaa / NR
NR

4.57 4.10
TOTAL CMO 5,910,000.00 1.73%
6,169,430.46
6,055,734.35 4.32%
5,730,430.59
15,358.93

3.86%
(325,303.76)
Aaa / AAA
AAA

2.85 2.56
Corporate
24422EVN6 John Deere Capital Corp Note

0.450% Due 01/17/2024
1,030,000.00 03/01/2021

0.47%
1,029,268.70
1,029,756.00

95.92 4.85%
987,924.50
180.25

0.66%
(41,831.50)
A2 / A
A

0.96 0.94
89114QCA4 Toronto Dominion Bank Note

2.650% Due 06/12/2024
1,500,000.00 09/11/2019

2.24%
1,527,255.00
1,507,811.84

97.32 4.70%
1,459,774.50
5,410.42

0.99%
(48,037.34)
A1 / A
AA1.361.31
06367TQW3 Bank of Montreal Note

0.625% Due 07/09/2024
600,000.00 02/09/2022

1.89%
582,216.00
589,398.39

94.12 4.91%
564,695.40
229.17

0.38%
(24,702.99)
A2 / AAA1.44

1.40 79466LAG9 Salesforce.com Inc Callable Note Cont 7/15/2022

0.625% Due 07/15/2024
1,760,000.00 Various

0.87%
1,748,937.40
1,753,876.54

94.40 4.65%
1,661,505.12
488.88

1.12%
(92,371.42)
A2 / A+
NR

1.45 1.42
78013XZU5 Royal Bank of Canada Note

2.550% Due 07/16/2024
1,500,000.00 Various

1.98%
1,533,359.18
1,511,788.20

96.82 4.83%
1,452,300.00
1,593.76

0.98%
(59,488.20)
A1 / A
AA1.461.41
As of January 31, 2023
20 716
CC 03-07-2023
716 of 773
Holdings Report
City of Cupertino - Account #10659
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91159HHX1 US Bancorp Callable Note Cont 6/28/2024

2.400% Due 07/30/2024
1,250,000.00 10/10/2019

2.07%
1,268,262.50
1,255,453.24

96.81 4.63%
1,210,073.75

83.33 0.81%
(45,379.49)
A2 / A+
A+

1.50 1.45
009158AV8 Air Products & Chemicals Callable Note Cont 4/30/2024

3.350% Due 07/31/2024
1,675,000.00 08/07/2019

2.07%
1,771,212.00
1,700,307.21

98.23 4.59%
1,645,300.58
155.87

1.11%
(55,006.63)
A2 / A
NR

1.50 1.44
69371RR40 Paccar Financial Corp Note

0.500% Due 08/09/2024
680,000.00 08/03/2021

0.52%
679,632.80
679,814.05

94.02 4.62%
639,312.20
1,624.44

0.43%
(40,501.85)
A1 / A+
NR

1.52 1.48
69371RQ25 Paccar Financial Corp Note

2.150% Due 08/15/2024
370,000.00 08/08/2019

2.20%
369,182.30
369,748.92

96.11 4.80%
355,607.37
3,668.14

0.24%
(14,141.55)
A1 / A+
NR

1.54 1.47
14913Q3B3 Caterpillar Finl Service Note

2.150% Due 11/08/2024
1,100,000.00 01/28/2020

1.92%
1,111,517.00
1,104,266.04

96.12 4.46%
1,057,273.80
5,452.64

0.71%
(46,992.24)
A2 / A
A

1.77 1.70
74153WCQ0 Pricoa Global Funding Note

1.150% Due 12/06/2024
885,000.00 12/01/2021

1.19%
884,088.45
884,438.41

93.32 4.98%
825,882.00
1,554.90

0.56%
(58,556.41)
Aa3 / AAAA1.85

1.78 89114TZL9 Toronto-Dominion Bank Note

1.450% Due 01/10/2025
700,000.00 03/15/2022

2.79%
674,737.00
682,610.23

93.79 4.84%
656,522.30
592.08

0.44%
(26,087.93)
A1 / A
NR

1.95 1.87
89236TJT3 Toyota Motor Credit Corp Note

1.450% Due 01/13/2025
1,215,000.00 01/10/2022

1.50%
1,213,371.90
1,213,942.33

94.17 4.61%
1,144,212.89
880.88

0.77%
(69,729.44)
A1 / A+
A+

1.95 1.88
64952WEK5 New York Life Global Note

1.450% Due 01/14/2025
1,680,000.00 01/11/2022

1.49%
1,678,185.60
1,678,819.65

94.03 4.68%
1,579,762.80
1,150.33

1.06%
(99,056.85)
Aaa / AA+
AAA

1.96 1.89
69371RR73 Paccar Financial Corp Note

2.850% Due 04/07/2025
885,000.00 03/31/2022

2.86%
884,769.90
884,832.88

96.56 4.52%
854,594.94
7,987.13

0.58%
(30,237.94)
A1 / A+
NR

2.18 2.07
78016EZ59 Royal Bank of Canada Note

3.375% Due 04/14/2025
1,050,000.00 04/07/2022

3.39%
1,049,611.50
1,049,715.36

97.49 4.58%
1,023,659.70
10,532.81

0.70%
(26,055.66)
A1 / A
AA2.202.07
06406RBC0 Bank of NY Mellon Corp Callable Note Cont 3/25/2025

3.350% Due 04/25/2025
1,370,000.00 04/19/2022

3.35%
1,369,808.20
1,369,857.42

97.48 4.55%
1,335,421.20
12,238.67

0.91%
(34,436.22)
A1 / A
AA2.232.10
06367WB85 Bank of Montreal Note

1.850% Due 05/01/2025
1,240,000.00 07/23/2021

0.85%
1,285,656.80
1,267,247.87

93.84 4.77%
1,163,616.00
5,735.00

0.79%
(103,631.87)
A2 / AAA2.25

2.15 46647PCH7 JP Morgan Chase & Co Callable Note Cont 6/1/2024

0.824% Due 06/01/2025
1,370,000.00 05/24/2021

0.78%
1,371,773.90
1,370,786.60

94.13 5.23%
1,289,582.38
1,881.47

0.87%
(81,204.22)
A1 / AAA2.33

2.24 46647PCK0 JP Morgan Chase & Co Callable Note Cont 6/23/2024

0.969% Due 06/23/2025
655,000.00 Various

0.95%
655,406.85
655,188.75

94.22 5.18%
617,150.17
669.96

0.42%
(38,038.58)
A1 / AAA2.39

2.30 66815L2J7 Northwestern Mutual Glbl Note

4.000% Due 07/01/2025
1,170,000.00 06/27/2022

4.01%
1,169,602.20
1,169,680.24

98.61 4.61%
1,153,721.79
3,900.00

0.78%
(15,958.45)
Aaa / AA+
AAA

2.42 2.27
As of January 31, 2023
21 717
CC 03-07-2023
717 of 773
Holdings Report
City of Cupertino - Account #10659
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
74153WCM9 Pricoa Global Funding Note

0.800% Due 09/01/2025
904,000.00 04/06/2022

3.26%
832,972.72
850,071.88

90.50 4.75%
818,129.04
3,013.33

0.55%
(31,942.84)
Aa3 / AAAA2.59

2.49 06406HCQ0 Bank of New York Callable Note Cont 10/18/2025

3.950% Due 11/18/2025
1,000,000.00 04/05/2022

3.20%
1,024,910.00
1,019,116.98

98.31 4.59%
983,094.00
8,009.72

0.67%
(36,022.98)
A1 / A
AA2.802.59
40139LBC6 Guardian Life Glob Fun Note

0.875% Due 12/10/2025
1,400,000.00 Various

1.12%
1,385,860.00
1,390,343.54

89.38 4.90%
1,251,352.20
1,735.42

0.84%
(138,991.34)
Aa1 / AA+
NR

2.86 2.76
66815L2A6 Northwestern Mutual Glbl Note

0.800% Due 01/14/2026
850,000.00 12/06/2021

1.47%
827,449.50
833,772.07

89.57 4.62%
761,304.20
321.11

0.51%
(72,467.87)
Aaa / AA+
AAA

2.96 2.86
06051GHY8 Bank of America Corp Callable Note Cont 2/13/2025

2.015% Due 02/13/2026
600,000.00 05/24/2021

1.05%
620,988.00
611,474.68

93.86 5.23%
563,157.60
5,642.00

0.38%
(48,317.08)
A2 / AAA3.04

1.93 46647PBK1 JP Morgan Chase & Co Callable Note Cont 4/22/2025

2.083% Due 04/22/2026
401,000.00 05/20/2021

1.11%
415,969.33
409,495.54

93.92 5.00%
376,599.95
2,297.03

0.25%
(32,895.59)
A1 / AAA3.22

2.12 6174468Q5 Morgan Stanley Callable Note Cont 4/28/2025

2.188% Due 04/28/2026
650,000.00 05/23/2022

4.68%
615,699.50
621,727.20

93.98 5.06%
610,845.30
3,674.02

0.41%
(10,881.90)
A1 / AA+3.24

2.13 023135BX3 Amazon.com Inc Callable Note Cont 4/12/2026

1.000% Due 05/12/2026
1,875,000.00 05/10/2021

1.09%
1,866,900.00
1,869,694.63

90.04 4.29%
1,688,229.38
4,114.58

1.14%
(181,465.25)
A1 / AA
AA3.283.16
91324PEC2 United Health Group Inc Callable Note Cont 4/15/2026

1.150% Due 05/15/2026
1,035,000.00 Various

1.37%
1,025,051.35
1,027,583.15

90.53 4.27%
936,954.45
2,512.74

0.63%
(90,628.70)
A3 / A+
A

3.29 3.16
89236TJK2 Toyota Motor Credit Corp Note

1.125% Due 06/18/2026
1,385,000.00 06/15/2021

1.13%
1,384,390.60
1,384,588.50

89.70 4.44%
1,242,369.93
1,861.09

0.84%
(142,218.57)
A1 / A+
A+

3.38 3.25
06051GJD2 Bank of America Corp Callable Note Cont 6/19/2025

1.319% Due 06/19/2026
700,000.00 07/16/2021

1.27%
701,274.00
700,774.20

91.59 5.10%
641,141.20
1,077.18

0.43%
(59,633.00)
A2 / AAA3.38

2.29 57629WDE7 Mass Mutual Global funding Note

1.200% Due 07/16/2026
1,000,000.00 08/19/2021

1.15%
1,002,230.00
1,001,572.72

89.51 4.51%
895,064.00
500.00

0.60%
(106,508.72)
Aa3 / AA+
AA+

3.46 3.32
58989V2D5 Met Tower Global Funding Note

1.250% Due 09/14/2026
770,000.00 09/07/2021

1.27%
769,291.60
769,487.52

88.42 4.77%
680,810.90
3,662.85

0.46%
(88,676.62)
Aa3 / AAAA3.62

3.44 931142ER0 Wal-Mart Stores Callable Note Cont 08/17/2026

1.050% Due 09/17/2026
350,000.00 09/08/2021

1.09%
349,338.50
349,520.36

89.62 4.16%
313,666.50
1,367.92

0.21%
(35,853.86)
Aa2 / AA
AA

3.63 3.48
59217GER6 Metlife Note

1.875% Due 01/11/2027
1,115,000.00 01/03/2022

1.90%
1,113,728.90
1,113,997.60

90.09 4.65%
1,004,509.08
1,161.46

0.68%
(109,488.52)
Aa3 / AAAA3.95

3.72 808513BY0 Charles Schwab Corp Callable Note Cont 2/3/2027

2.450% Due 03/03/2027
960,000.00 03/01/2022

2.46%
959,729.90
959,778.53

93.04 4.32%
893,215.68
9,669.33

0.61%
(66,562.85)
A2 / A
A

4.09 3.78
As of January 31, 2023
22 718
CC 03-07-2023
718 of 773
Holdings Report
City of Cupertino - Account #10659
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
084664CZ2 Berkshire Hathaway Callable Note Cont 2/15/2027

2.300% Due 03/15/2027
1,615,000.00 03/07/2022

2.30%
1,614,693.15
1,614,747.43

94.15 3.85%
1,520,475.67
14,032.56

1.03%
(94,271.76)
Aa2 / AA
A+

4.12 3.84
06051GHT9 Bank of America Corp Callable Note 1X 4/23/2026

3.559% Due 04/23/2027
1,150,000.00 Various

4.77%
1,114,222.54
1,117,928.49

95.75 4.99%
1,101,154.90
11,141.65

0.75%
(16,773.59)
A2 / AAA4.23

2.97 665859AW4 Northern Trust Company Callable Note Cont 4/10/2027

4.000% Due 05/10/2027
670,000.00 05/05/2022

4.04%
668,914.60
669,073.31

98.94 4.27%
662,864.50
6,030.00

0.45%
(6,208.81)
A2 / A+
A+

4.27 3.85
91324PEG3 United Health Group Inc Callable Note Cont 4/15/2027

3.700% Due 05/15/2027
675,000.00 05/17/2022

3.69%
675,316.70
675,272.01

98.33 4.13%
663,747.08
5,272.50

0.45%
(11,524.93)
A3 / A+
A

4.29 3.89
TOTAL Corporate 42,790,000.00 1.97%
42,826,786.07
42,719,360.51 4.64%
40,286,578.95
153,106.62

27.19%
(2,432,781.56)
A1 / A+
AA2.552.34
Money Market Fund
94975H270 Wells Fargo 100% Treasury Money Mkt Fund 170,993.03 Various

3.80%
170,993.03
170,993.03

1.00 3.80%
170,993.03

0.00 0.11%

0.00 Aaa / AAA
NR

0.00 0.00
TOTAL Money Market Fund 170,993.03 3.80%
170,993.03
170,993.03 3.80%
170,993.03

0.00 0.11%

0.00 Aaa / AAA
NR

0.00 0.00
Municipal Bonds
13063DRK6 California State Taxable GO

2.400% Due 10/01/2024
755,000.00 10/16/2019

1.91%
772,342.35
760,844.87

96.97 4.30%
732,093.30
6,040.00

0.50%
(28,751.57)
Aa2 / AAAA1.67

1.60 TOTAL Municipal Bonds 755,000.00 1.91%
772,342.35
760,844.87 4.30%
732,093.30
6,040.00

0.50%
(28,751.57)
Aa2 / AAAA1.67

1.60 Supranational
4581X0DP0 Inter-American Dev Bank Note

0.250% Due 11/15/2023
2,800,000.00 07/01/2021

0.37%
2,792,300.00
2,797,436.31

96.43 4.92%
2,699,928.00
1,477.78

1.82%
(97,508.31)
Aaa / AAA
NR

0.79 0.77
45950KCT5 International Finance Corp Note

0.375% Due 07/16/2025
2,500,000.00 05/27/2021

0.66%
2,471,150.00
2,482,835.59

91.48 4.05%
2,286,900.00
390.63

1.54%
(195,935.59)
Aaa / AAA
NR

2.46 2.40
459058JL8 Intl. Bank Recon & Development Note

0.500% Due 10/28/2025
2,400,000.00 Various

0.60%
2,388,859.25
2,393,510.85

90.90 4.04%
2,181,504.00
3,100.00

1.47%
(212,006.85)
Aaa / AAA
AAA

2.74 2.67
As of January 31, 2023
23 719
CC 03-07-2023
719 of 773
Holdings Report
City of Cupertino - Account #10659
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
4581X0DV7 Inter-American Dev Bank Note

0.875% Due 04/20/2026
2,460,000.00 04/13/2021

0.97%
2,448,733.20
2,452,756.18

90.82 3.94%
2,234,098.20
6,038.96

1.51%
(218,657.98)
Aaa / AAA
AAA

3.22 3.11
TOTAL Supranational 10,160,000.00 0.64%
10,101,042.45
10,126,538.93 4.27%
9,402,430.20
11,007.37

6.33%
(724,108.73)
Aaa / AAA
AAA

2.23 2.16
US Treasury
912828B66 US Treasury Note

2.750% Due 02/15/2024
2,000,000.00 Various

2.14%
2,053,613.28
2,012,079.73

97.97 4.77%
1,959,454.00
25,407.61

1.33%
(52,625.73)
Aaa / AA+
AAA

1.04 1.00
91282CBR1 US Treasury Note

0.250% Due 03/15/2024
1,450,000.00 03/30/2021

0.33%
1,446,488.28
1,448,673.35

95.20 4.71%
1,380,388.40
1,391.92

0.93%
(68,284.95)
Aaa / AA+
AAA

1.12 1.09
912828X70 US Treasury Note

2.000% Due 04/30/2024
1,700,000.00 06/10/2019

1.92%
1,705,976.56
1,701,520.09

96.80 4.67%
1,645,679.90
8,734.81

1.11%
(55,840.19)
Aaa / AA+
AAA

1.25 1.20
912828XX3 US Treasury Note

2.000% Due 06/30/2024
2,000,000.00 Various

1.80%
2,018,574.22
2,005,418.28

96.51 4.58%
1,930,156.00
3,535.91

1.30%
(75,262.28)
Aaa / AA+
AAA

1.41 1.37
912828D56 US Treasury Note

2.375% Due 08/15/2024
1,700,000.00 09/18/2019

1.71%
1,753,191.41
1,716,652.00

96.90 4.48%
1,647,272.80
18,651.49

1.12%
(69,379.20)
Aaa / AA+
AAA

1.54 1.47
912828YY0 US Treasury Note

1.750% Due 12/31/2024
2,100,000.00 03/15/2022

1.97%
2,087,203.13
2,091,238.97

95.50 4.22%
2,005,418.10
3,248.62

1.35%
(85,820.87)
Aaa / AA+
AAA

1.92 1.85
912828ZC7 US Treasury Note

1.125% Due 02/28/2025
1,500,000.00 03/18/2020

0.81%
1,523,144.53
1,509,708.66

94.03 4.15%
1,410,468.00
7,178.87

0.95%
(99,240.66)
Aaa / AA+
AAA

2.08 2.01
91282CED9 US Treasury Note

1.750% Due 03/15/2025
3,100,000.00 Various

2.23%
3,057,617.20
3,069,612.26

95.19 4.14%
2,950,933.40
20,830.80

2.00%
(118,678.86)
Aaa / AA+
AAA

2.12 2.03
912828ZL7 US Treasury Note

0.375% Due 04/30/2025
2,500,000.00 03/21/2022

2.24%
2,360,839.85
2,399,584.00

92.11 4.09%
2,302,735.00
2,408.49

1.55%
(96,849.00)
Aaa / AA+
AAA

2.25 2.19
91282CAB7 US Treasury Note

0.250% Due 07/31/2025
1,500,000.00 03/12/2021

0.72%
1,469,765.63
1,482,774.54

91.22 3.97%
1,368,282.00

10.36 0.92%
(114,492.54)
Aaa / AA+
AAA

2.50 2.44
91282CAM3 US Treasury Note

0.250% Due 09/30/2025
2,400,000.00 Various

0.56%
2,366,140.63
2,380,302.80

90.86 3.90%
2,180,625.60
2,043.96

1.47%
(199,677.20)
Aaa / AA+
AAA

2.67 2.60
91282CAT8 US Treasury Note

0.250% Due 10/31/2025
2,450,000.00 Various

0.49%
2,422,492.19
2,434,185.15

90.52 3.92%
2,217,823.30
1,573.55

1.49%
(216,361.85)
Aaa / AA+
AAA

2.75 2.68
91282CAZ4 US Treasury Note

0.375% Due 11/30/2025
2,250,000.00 03/26/2021

0.77%
2,209,658.20
2,225,586.95

90.63 3.91%
2,039,062.50
1,460.34

1.37%
(186,524.45)
Aaa / AA+
AAA

2.83 2.76
91282CBH3 US Treasury Note

0.375% Due 01/31/2026
2,500,000.00 05/27/2021

0.75%
2,456,445.31
2,472,093.40

90.23 3.86%
2,255,665.00

25.90 1.52%
(216,428.40)
Aaa / AA+
AAA

3.00 2.93
91282CBW0 US Treasury Note

0.750% Due 04/30/2026
2,500,000.00 05/27/2021

0.80%
2,493,652.34
2,495,820.01

90.70 3.82%
2,267,480.00
4,816.99

1.53%
(228,340.01)
Aaa / AA+
AAA

3.25 3.14
As of January 31, 2023
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Holdings Report
City of Cupertino - Account #10659
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91282CCZ2 US Treasury Note

0.875% Due 09/30/2026
1,400,000.00 10/18/2021

1.19%
1,379,054.68
1,384,502.55

90.20 3.76%
1,262,788.80
4,173.08

0.85%
(121,713.75)
Aaa / AA+
AAA

3.67 3.53
91282CDG3 US Treasury Note

1.125% Due 10/31/2026
1,400,000.00 11/15/2021

1.25%
1,391,468.75
1,393,548.51

90.91 3.75%
1,272,742.80
4,046.27

0.86%
(120,805.71)
Aaa / AA+
AAA

3.75 3.60
91282CEW7 US Treasury Note

3.250% Due 06/30/2027
3,250,000.00 Various

3.18%
3,260,312.50
3,258,860.80

98.29 3.67%
3,194,522.50
9,337.01

2.15%
(64,338.30)
Aaa / AA+
AAA

4.41 4.06
91282CFB2 US Treasury Note

2.750% Due 07/31/2027
400,000.00 08/22/2022

3.12%
393,218.75
393,828.05

96.26 3.66%
385,046.80

30.39 0.26%
(8,781.25)
Aaa / AA+
AAA

4.50 4.18
91282CFH9 US Treasury Note

3.125% Due 08/31/2027
4,500,000.00 Various

3.28%
4,468,902.34
4,471,373.50

97.84 3.64%
4,402,615.50
59,823.90

3.00%
(68,758.00)
Aaa / AA+
AAA

4.58 4.16
91282CFM8 US Treasury Note

4.125% Due 09/30/2027
3,450,000.00 Various

4.31%
3,421,152.34
3,422,673.34
102.03

3.65%
3,519,941.85
48,480.08

2.40%
97,268.51
Aaa / AA+
AAA

4.67 4.16
91282CFZ9 US Treasury Note

3.875% Due 11/30/2027
850,000.00 12/05/2022

3.81%
852,656.25
852,573.06
101.14

3.61%
859,695.10
5,700.72

0.58%
7,122.04
Aaa / AA+
AAA

4.83 4.35
91282CGC9 US Treasury Note

3.875% Due 12/31/2027
2,750,000.00 Various

3.67%
2,775,107.42
2,775,051.64
101.13

3.62%
2,781,152.00
9,419.89

1.88%
6,100.36
Aaa / AA+
AAA

4.92 4.43
TOTAL US Treasury 49,650,000.00 2.01%
49,366,675.79
49,397,661.64 3.99%
47,239,949.35
242,330.96

31.92%
(2,157,712.29)
Aaa / AA+
AAA

3.05 2.86
TOTAL PORTFOLIO 156,310,484.20 1.73%
156,399,348.51
156,105,057.72 4.39%
148,208,122.65
534,357.21
100.00%
(7,896,935.07)
Aa1 / AA
AAA

2.66 2.28
TOTAL MARKET VALUE PLUS ACCRUALS 148,742,479.86
As of January 31, 2023
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SECTION | Section 4 | Transactions
26 722
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Transaction Ledger
City of Cupertino - Account #10659
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount InterestPur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 12/06/2022 91282CFZ9 850,000.00 US Treasury Note

3.875% Due: 11/30/2027
100.313 3.81% 852,656.25 542.93 853,199.18 0.00
Purchase 01/06/2023 91282CGC9 750,000.00 US Treasury Note

3.875% Due: 12/31/2027

99.660 3.95% 747,451.17 481.70 747,932.87 0.00
Purchase 01/26/2023 91282CGC9 2,000,000.00 US Treasury Note

3.875% Due: 12/31/2027
101.383 3.57% 2,027,656.25 5,566.30 2,033,222.55 0.00
Subtotal 3,600,000.00 3,627,763.67 6,590.93 3,634,354.60 0.00 TOTAL ACQUISITIONS 3,600,000.00 3,627,763.67 6,590.93 3,634,354.60 0.00

DISPOSITIONS
Sale 01/26/2023 912828V23 1,500,000.00 US Treasury Note

2.25% Due: 12/31/2023

97.762 1.80% 1,466,425.78 2,424.03 1,468,849.81 -39,625.84 Subtotal 1,500,000.00 1,466,425.78 2,424.03 1,468,849.81 -39,625.84 TOTAL DISPOSITIONS 1,500,000.00 1,466,425.78 2,424.03 1,468,849.81 -39,625.84 October 31, 2022 through January 31, 2023
As of January 31, 2023
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Important Disclosures
2023 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.

Information contained herein is confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.

Source ICE Data Indices, LLC ("ICE"), used with permission. ICE permits use of the ICE indices and related data on an "as is" basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third party providers guarantee the quality, adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an "as is" basis and licensee's use it at licensee's own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend chandler asset management, or any of its products or services.

This report is provided for informational purposes only and should not be construed as a specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice. Any opinions or views expressed are based on current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results. Past performance is not indicative of future results. This report is not intended to constitute an offer, solicitation, recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment.

Fixed income investments are subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise. Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk: the bond market in general could decline due to economic conditions, especially during periods of rising interest rates.

Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P, Moody’s and Fitch respectively.

As of January 31, 2023
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Benchmark Disclosures
ICE BofA 1-5 Yr US Treasury & Agency Index
The ICE BofA 1-5 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.

As of January 31, 2023
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INVESTMENT AND INSURANCE PRODUCTS ARE:
• NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) OR ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT, OBLIGATION OF, OR GUARANTEED BY ANY BANK OR BANKING AFFILIATE • SUBJECT TO INVESTMENT RISKS AND MAY LOSE VALUE, INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED

PCS - SAN FRANCISCO CA
510 N VALLEY MILLS DRIVE, SUITE 400
WACO, TX 76710-6075

CITY OF CUPERTINO -

CHANDLER ASSET MANAGEMENT

ACCOUNT NUMBER

MONTHLY STATEMENT
JANUARY 1, 2023 THROUGH JANUARY 31, 2023
ACCOUNT MANAGER: MICHAEL J WADE
TELEPHONE NUMBER: 515-878-6110
PFGEDD INVESTMENT CONTACT: IMR/CHRISTINE NORGREN
TELEPHONE NUMBER:

ADMINISTRATOR: BELINDA CONWAY
TELEPHONE NUMBER: 254-265-6137
03223 SE
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Custody and trust services are provided by Principal Bank®, Member FDIC, and/or Principal Trust Company®. These services are provided under the trade name Principal® Custody Solutions. Principal Trust Company is a trade name of Delaware Charter Guarantee & Trust Company. Principal Bank and Principal Trust Company are members of the Principal Financial Group®, Des Moines, IA 50392.

ASSET VALUATION PRACTICES
VALUES REFLECTED FOR PUBLICLY TRADED ASSETS ARE OBTAINED FROM UNAFFILIATED SOURCES. IN SITUATIONS WHERE AN ASSET VALUE CANNOT BE

PROVIDED BY OUR UNAFFILIATED PRICING SOURCES, SUCH AS BUT NOT LIMITED TO NON-PUBLICLY TRADED ASSETS, THE CUSTOMER OR THEIR DESIGNATED REPRESENTATIVE MUST PROVIDE THE UPDATED VALUE. IF PRINCIPAL CUSTODY SOLUTIONS DOES NOT RECEIVE AN UPDATED VALUE, OR IS UNABLE TO USE THE VALUE PROVIDED, THE LAST REPORTED VALUE WILL CONTINUE TO BE REPORTED. VALUES OBTAINED FROM THE CUSTOMER OR THEIR DESIGNATED REPRESENTATIVE SHOULD NOT BE CONSIDERED TO BE CERTIFIED BY PRINCIPAL BANK/PRINCIPAL TRUST COMPANY, AS APPLICABLE.

SPECIAL INVESTMENTS
"SPECIAL INVESTMENTS" ARE ASSETS NOT HELD IN CUSTODY BY PRINCIPAL BANK/PRINCIPAL TRUST COMPANY BUT WHOSE VALUE MAY BE SHOWN ON ACCOUNT STATEMENTS. EXAMPLES OF SPECIAL INVESTMENTS INCLUDE, BUT ARE NOT LIMITED TO, COMMON OR COLLECTIVE FUNDS NOT ADMINISTERED BY PRINCIPAL BANK/PRINCIPAL TRUST COMPANY (OR THEIR AFFILIATES), HEDGE FUNDS, LIMITED PARTNERSHIPS, AND OTHER UNREGISTERED SECURITIES.

AT THE DIRECTION OF AND AS A MATTER OF CONVENIENCE TO ITS CLIENTS, PRINCIPAL BANK/PRINCIPAL TRUST COMPANY MAY BE REPORT SPECIAL INVESTMENTS AS A RECORDKEEPING ITEM ON ACCOUNT STATEMENTS, AT NOMINAL VALUE OR SUCH OTHER VALUE PROVIDED BY CLIENTS/EXTERNAL SOURCES.

NEITHER PRINCIPAL BANK NOR PRINCIPAL TRUST COMPANY IS RESPONSIBLE FOR THE ACCURACY OF INFORMATION PROVIDED BY EXTERNAL SOURCES, AND

DOES NOT CERTIFY THAT INFORMATION PROVIDED BY THESE EXTERNAL SOURCES IS TRUE OR CORRECT FOR THE SPECIAL INVESTMENTS REFLECTED IN YOUR ACCOUNT.

TRADE CONFIRMS

PURSUANT TO FEDERAL REGULATION, MONTHLY OR QUARTERLY ACCOUNT STATEMENTS THAT INCLUDE INVESTMENT TRANSACTION DETAILS MAY BE PROVIDED IN LIEU OF SEPARATE TRADE CONFIRMATIONS. SEPARATE TRADE CONFIRMS MAY BE OBTAINED AT NO ADDITIONAL COST UPON WRITTEN REQUEST TO THE ACCOUNT MANAGER.

UNCLAIMED PROPERTY DESIGNATED REPRESENTATIVE NOTIFICATION

YOUR PROPERTY MAY BE TRANSFERRED TO THE APPROPRIATE STATE IF NO ACTIVITY OCCURS IN THE ACCOUNT WITHIN THE TIME PERIOD SPECIFIED BY STATE LAW. IF YOUR STATE OF RESIDENCE ALLOWS, YOU MAY DESIGNATE A REPRESENTATIVE FOR THE PURPOSE OF RECEIVING NOTICE OF ACCOUNT INACTIVITY BY PROVIDING THE NAME AND MAILING OR EMAIL ADDRESS OF A REPRESENTATIVE. THE DESIGNATED REPRESENTATIVE DOES NOT HAVE ANY RIGHTS TO YOUR ACCOUNT. PLEASE REFER TO YOUR STATE'S UNCLAIMED PROPERTY WEBSITE FOR MORE INFORMATION AND INSTRUCTIONS ON HOW TO DESIGNATE A REPRESENTATIVE FOR NOTICE.
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TABLE OF CONTENTS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ PAGE

REPORT NAME NUMBER
ASSET SUMMARY .................................................................................. 1 STATEMENT OF ASSETS AND LIABILITIES ............................................................ 2 CASH SUMMARY ................................................................................... 20 STATEMENT OF TRANSACTIONS ...................................................................... 21 728
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PAGE 1

ASSET SUMMARY CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

ASSET SUMMARY
% TOTAL UNREALIZED ESTIMATED CURRENT ACCRUED

INVESTMENT CATEGORY COST VALUE MARKET VALUE MARKET GAIN/LOSS ANNUAL INCOME YIELD INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ CASH 0.00 0.00 0.00
CASH EQUIVALENTS 170,993.03 170,993.03 0.12 0.00 6,437 3.76 955.37 BONDS AND NOTES 156,228,355.48 148,037,128.65 99.88 8,191,226.83- 2,674,518 1.81 534,297.01 TOTAL INVESTMENTS 156,399,348.51 148,208,121.68 100.00 8,191,226.83- 2,680,955 1.81 535,252.38 TOTAL ACCRUALS 535,252.38 535,252.38
===================================================================================================================================== TOTAL ACCRUALS AND INVESTMENTS 156,934,600.89 148,743,374.06 8,191,226.83- 2,680,955 1.81 535,252.38 729
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PAGE 2

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯

CASH EQUIVALENTS
165,128.2 ALLSPRING 100% TREASURY 165,128.20 165,128.20 0.11 0.00 922.71 MONEY MARKET FUND - #008 1.0000 1.0000
5,864.83 PRINCIPAL PUBLIC DEPOSIT SWEEP 5,864.83 5,864.83 0.00 0.00 32.66 PROGRAM 1.0000 1.0000
TOTAL CASH EQUIVALENTS 170,993.03 170,993.03 0.12 0.00 955.37

BOND & NOTES
1,675,000 AIR PRODUCTS & CHEMICALS 1,771,212.00 1,645,302.25 1.11 125,909.75- 155.87 DTD 07/31/14 3.350 07/31/2024 105.7440 98.2270
MOODY'S RATING A2
CUSIP 009158AV8
1,875,000 AMAZON.COM INC 1,866,900.00 1,688,231.25 1.14 178,668.75- 4,114.58 DTD 05/12/21 1.000 05/12/2026 99.5680 90.0390
MOODY'S RATING A1
CUSIP 023135BX3
1,375,000 AMERICAN EXPRESS CREDIT ACCOUNT 1,374,695.85 1,343,265.00 0.91 31,430.85- 2,071.67 ASSET BCKD SEC SER 2022-2 CL A 99.9779 97.6920
DTD 05/24/2022 3.390% 05/17/2027

NON CALLABLE
CUSIP 02582JJT8
1,545,000 AMERICAN EXPRESS CREDIT ACCOUNT 1,524,359.77 1,472,678.55 0.99 51,681.22- 1,517.53 ASSET BCKD SEC SER 2022-1 CL A 98.6641 95.3190
DTD 03/18/2022 2.210% 03/15/2027

NON CALLABLE

MOODY'S RATING AAA
CUSIP 02589BAA8
1,150,000 BANK OF AMERICA CORP 1,114,222.54 1,101,159.50 0.74 13,063.04- 11,141.65 MED TERM NOTE 96.8889 95.7530
DTD 04/23/19 04/23/2027
MOODY'S RATING A2
CUSIP 06051GHT9
730
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PAGE 3

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 600,000 BANK OF AMERICA CORP 620,988.00 563,160.00 0.38 57,828.00- 5,642.00 MED TERM NOTE 103.4980 93.8600
DTD 02/13/20 02/13/2026
MOODY'S RATING A2
CUSIP 06051GHY8
700,000 BANK OF AMERICA CORP 701,274.00 641,144.00 0.43 60,130.00- 1,077.18 MED TERM NOTE 100.1820 91.5920
DTD 06/19/20 06/19/2026
MOODY'S RATING A2
CUSIP 06051GJD2
600,000 BANK OF MONTREAL 582,216.00 564,696.00 0.38 17,520.00- 229.17 MED TERM NOTE 97.0360 94.1160
DTD 07/09/21 0.625 07/09/2024
MOODY'S RATING A2
CUSIP 06367TQW3
1,240,000 BANK OF MONTREAL 1,285,656.80 1,163,616.00 0.79 122,040.80- 5,735.00 MED TERM NOTE 103.6820 93.8400
DTD 04/27/20 1.850 05/01/2025
MOODY'S RATING A2
CUSIP 06367WB85
1,000,000 BANK OF NEW YORK MELLON 1,024,910.00 983,090.00 0.66 41,820.00- 8,009.72 MED TERM NOTE 102.4910 98.3090
DTD 11/18/13 3.950 11/18/2025
MOODY'S RATING A1
CUSIP 06406HCQ0
1,370,000 BANK OF NY MELLON CORP 1,369,808.20 1,335,421.20 0.90 34,387.00- 12,238.67 DTD 04/26/2022 3.350% 04/25/2025 99.9860 97.4760

CALLABLE
MOODY'S RATING A1
CUSIP 06406RBC0
1,615,000 BERKSHIRE HATHAWAY FIN 1,614,693.15 1,520,474.05 1.03 94,219.10- 14,032.56 DTD 03/15/2022 2.300% 03/15/2027 99.9810 94.1470

CALLABLE
MOODY'S RATING AA2
CUSIP 084664CZ2
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PAGE 4

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 450,000 BMW VEHICLE LEASE TRUST 449,932.73 437,116.50 0.29 12,816.23- 82.50 SER 2022-1 CL A3 *0 DAY DELAY* 99.9851 97.1370
DTD 01/19/22 1.100 03/25/2025
CUSIP 05601XAC3
376,184.66 BMW VEHICLE LEASE TRUST 376,145.83 368,232.12 0.25 7,913.71- 17.24 SER 2021-2 CL A3 *0 DAY DELAY* 99.9897 97.8860
DTD 09/15/21 0.330 12/26/2024

MOODY'S RATING AAA
CUSIP 09690AAC7
530,000 BMW VEHICLE OWNER TRUST 529,972.44 517,391.30 0.35 12,581.14- 283.55 ASSET BCKD SEC SER 2022-A CL A3 99.9948 97.6210
DTD 05/18/2022 3.210% 08/25/2026

CALLABLE

MOODY'S RATING AAA
CUSIP 05602RAD3
755,000 CALIFORNIA ST 772,342.35 732,093.30 0.49 40,249.05- 6,040.00 TXBL-REF 102.2970 96.9660
DTD 10/24/19 2.400 10/01/2024
MOODY'S RATING AA2
CUSIP 13063DRK6
1,100,000 CATERPILLAR FINL SERVICE 1,111,517.00 1,057,276.00 0.71 54,241.00- 5,452.64 MED TERM NOTE 101.0470 96.1160
DTD 11/08/19 2.150 11/08/2024
MOODY'S RATING A2
CUSIP 14913Q3B3
960,000 CHARLES SCHWAB CORP 959,729.90 893,212.80 0.60 66,517.10- 9,669.33 DTD 03/03/2022 2.450% 03/03/2027 99.9719 93.0430

CALLABLE
MOODY'S RATING A2
CUSIP 808513BY0
1,500,000 FED HOME LN BK 1,568,115.00 1,475,430.00 1.00 92,685.00- 19,364.58 DTD 02/12/14 3.250 03/08/2024 104.5410 98.3620

MOODY'S RATING AAA
CUSIP 3130A0XE5
732
CC 03-07-2023
732 of 773
PAGE 5

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,500,000 FED HOME LN BK 1,564,890.20 1,464,270.00 0.99 100,620.20- 5,630.21 DTD 05/08/14 2.875 06/14/2024 104.3260 97.6180

MOODY'S RATING AAA
CUSIP 3130A1XJ2
2,000,000 FED HOME LN BK 2,103,380.00 1,948,240.00 1.31 155,140.00- 22,041.67 DTD 08/15/14 2.875 09/13/2024 105.1690 97.4120

MOODY'S RATING AAA
CUSIP 3130A2UW4
1,300,000 FED HOME LN MTG CORP 1,398,414.06 1,268,839.00 0.86 129,575.06- 3,435.25 SER KO41 CL A2 *24 DAY DELAY* 107.5703 97.6030
DTD 12/01/14 3.171 10/25/2024
CUSIP 3137BFE98
2,365,000 FED HOME LN MTG CORP 2,363,178.95 2,245,567.50 1.52 117,611.45- 16,653.54 DTD 02/14/20 1.500 02/12/2025 99.9230 94.9500

MOODY'S RATING AAA
CUSIP 3137EAEP0
1,250,000 FED HOME LN MTG CORP 1,243,775.00 1,141,575.00 0.77 102,200.00- 130.21 SER USD 99.5020 91.3260
DTD 07/23/20 0.375 07/21/2025

MOODY'S RATING AAA
CUSIP 3137EAEU9
2,500,000 FED HOME LN MTG CORP 2,489,362.80 2,274,750.00 1.53 214,612.80- 3,333.33 DTD 09/25/20 0.375 09/23/2025 99.5745 90.9900

MOODY'S RATING AAA
CUSIP 3137EAEX3
1,755,000 FED HOME LN MTG CORP 1,753,262.55 1,689,520.95 1.14 63,741.60- 694.69 DTD 12/04/20 0.250 12/04/2023 99.9010 96.2690

MOODY'S RATING AAA
CUSIP 3137EAFA2
1,500,000 FED NATL MTG ASSN 1,484,895.00 1,444,050.00 0.97 40,845.00- 2,114.58 DTD 07/08/19 1.750 07/02/2024 98.9930 96.2700

MOODY'S RATING AAA
CUSIP 3135G0V75
733
CC 03-07-2023
733 of 773
PAGE 6

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,975,000 FED NATL MTG ASSN 1,965,802.75 1,889,067.75 1.27 76,735.00- 9,449.83 DTD 10/18/19 1.625 10/15/2024 99.5343 95.6490

MOODY'S RATING AAA
CUSIP 3135G0W66
1,295,000 FED NATL MTG ASSN 1,309,953.95 1,232,373.80 0.83 77,580.15- 1,402.92 DTD 01/10/20 1.625 01/07/2025 101.1548 95.1640

MOODY'S RATING AAA
CUSIP 3135G0X24
1,860,000 FED NATL MTG ASSN 1,856,168.40 1,719,514.20 1.16 136,654.20- 3,196.88 DTD 04/24/20 0.625 04/22/2025 99.7940 92.4470

MOODY'S RATING AAA
CUSIP 3135G03U5
2,500,000 FED NATL MTG ASSN 2,499,227.30 2,296,950.00 1.55 202,277.30- 1,527.78 DTD 06/19/20 0.500 06/17/2025 99.9691 91.8780

MOODY'S RATING AAA
CUSIP 3135G04Z3
2,500,000 FED NATL MTG ASSN 2,487,983.75 2,278,200.00 1.54 209,783.75- 4,062.50 DTD 08/27/20 0.375 08/25/2025 99.5194 91.1280

MOODY'S RATING AAA
CUSIP 3135G05X7
2,500,000 FED NATL MTG ASSN 2,492,700.00 2,273,725.00 1.53 218,975.00- 2,916.67 DTD 11/12/20 0.500 11/07/2025 99.7080 90.9490

MOODY'S RATING AAA
CUSIP 3135G06G3
1,000,000 FHLMC MULTIFAMILY STRUCTURED P 1,079,687.50 968,410.00 0.65 111,277.50- 2,508.33 SER K049 CL A2 *24 DAY DELAY* 107.9688 96.8410
DTD 10/01/15 3.010 08/25/2025
CUSIP 3137BLMZ8
950,000 FHLMC MULTIFAMILY STRUCTURED P 1,018,132.81 926,373.50 0.63 91,759.31- 2,639.42 SER K050 CL A2 *24 DAY DELAY* 107.1719 97.5130
DTD 11/01/15 08/25/2025
CUSIP 3137BLW95
734
CC 03-07-2023
734 of 773
PAGE 7

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 440,000 FHLMC MULTIFAMILY STRUCTURED P 453,079.69 428,731.60 0.29 24,348.09- 1,212.93 SER K051 CL A2 *24 DAY DELAY* 102.9727 97.4390
DTD 12/01/15 3.308 09/25/2025
CUSIP 3137BM7C4
570,000 FHLMC MULTIFAMILY STRUCTURED P 582,001.17 550,768.20 0.37 31,232.97- 1,422.63 SER K053 CL A2 *24 DAY DELAY* 102.1055 96.6260
DTD 03/01/16 2.995 12/25/2025
CUSIP 3137BN6G4
650,000 FHLMC MULTIFAMILY STRUCTURED P 687,451.17 618,195.50 0.42 69,255.67- 1,437.04 SER K058 CL A2 *24 DAY DELAY* 105.7617 95.1070
DTD 11/01/16 2.653 08/25/2026
CUSIP 3137BSP72
1,000,000 FHLMC MULTIFAMILY STRUCTURED P 950,664.06 969,120.00 0.65 18,455.94 2,703.33 SER K068 CL A2 *24 DAY DELAY* 95.0664 96.9120
DTD 10/01/17 3.244 08/25/2027

MOODY'S RATING AAA
CUSIP 3137FBBX3
965,000 GM FINANCIAL AUTOMOBILE LEASIN 964,986.88 941,203.10 0.64 23,783.78- 104.54 SER 2021-3 CL A3 *0 DAY DELAY* 99.9987 97.5340
DTD 08/18/21 0.390 10/21/2024
CUSIP 36262XAC8
945,000 GM FINANCIAL AUTOMOBILE LEASIN 944,991.87 916,583.85 0.62 28,408.02- 534.19 SER 2022-1 CL A3 *0 DAY DELAY* 99.9992 96.9930
DTD 02/23/22 1.850 03/20/2025

MOODY'S RATING AAA
CUSIP 36265MAC9
350,000 GM FINANCIAL SECURITIZED TERM 349,991.08 331,019.50 0.22 18,971.58- 99.17 SER 2021-4 CL A3 *0 DAY DELAY* 99.9975 94.5770
DTD 10/21/21 0.680 09/16/2026

MOODY'S RATING AAA
CUSIP 362554AC1
735
CC 03-07-2023
735 of 773
PAGE 8

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 390,000 GM FINANCIAL SECURITIZED TERM 389,918.49 379,661.10 0.26 10,257.39- 503.75 ASSET BCKD SEC SER 2022-2 CL A3 99.9791 97.3490
DTD 04/13/2022 3.100% 02/16/2027

CALLABLE

MOODY'S RATING AAA
CUSIP 362585AC5
295,000 GM FINANCIAL SECURITIZED TERM 294,974.36 279,736.70 0.19 15,237.66- 154.88 SER 2022-1 CL A3 *0 DAY DELAY* 99.9913 94.8260
DTD 01/19/22 1.260 11/16/2026
CUSIP 380146AC4
1,400,000 GUARDIAN LIFE GLOB FUND 1,385,860.00 1,251,348.00 0.84 134,512.00- 1,735.42 144A PRIV PLCMT 0.875 12/10/2025 98.9900 89.3820
MOODY'S RATING AA1
CUSIP 40139LBC6
48,206.24 HONDA AUTO RECEIVABLES OWNER T 48,202.45 47,611.86 0.03 590.59- 17.57 SER 2020-2 CL A3 *0 DAY DELAY* 99.9922 98.7670
DTD 05/27/20 0.820 07/15/2024

MOODY'S RATING AAA
CUSIP 43813DAC2
191,446.33 HONDA AUTO RECEIVABLES OWNER T 191,442.83 185,865.67 0.13 5,577.16- 14.36 SER 2021-1 CL A3 *0 DAY DELAY* 99.9982 97.0850
DTD 02/24/21 0.270 04/21/2025

MOODY'S RATING AAA
CUSIP 43813GAC5
259,883.67 HONDA AUTO RECEIVABLES OWNER T 259,845.49 254,615.83 0.17 5,229.66- 34.72 SER 2020-3 CL A3 *0 DAY DELAY* 99.9853 97.9730
DTD 09/29/20 0.370 10/18/2024
CUSIP 43813KAC6
740,000 HONDA AUTO RECEIVABLES OWNER T 739,888.70 705,301.40 0.48 34,587.30- 618.31 SER 2022-1 CL A3 *0 DAY DELAY* 99.9850 95.3110
DTD 02/23/22 1.000 05/15/2026

MOODY'S RATING AAA
CUSIP 43815BAC4
736
CC 03-07-2023
736 of 773
PAGE 9

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 460,000 HONDA AUTO RECEIVABLES OWNER T 459,903.03 437,910.80 0.30 21,992.23- 112.44 SER 2021-4 CL A3 *0 DAY DELAY* 99.9789 95.1980
DTD 11/24/21 0.880 01/21/2026

MOODY'S RATING AAA
CUSIP 43815GAC3
713,351.18 HYUNDAI AUTO LEASE SECURITIZAT 713,244.18 704,113.28 0.48 9,130.90- 91.55 SER 2021-B CL A3 *0 DAY DELAY* 99.9850 98.7050
144A PRIV PLCMT 0.330 06/17/2024

MOODY'S RATING AAA
CUSIP 44891VAC5
540,000 HYUNDAI AUTO LEASE SECURITIZAT 539,988.07 523,195.20 0.35 16,792.87- 278.40 SER 2022-A CL A3 *0 DAY DELAY* 99.9978 96.8880
144A PRIV PLCMT 1.160 01/15/2025

MOODY'S RATING AAA
CUSIP 44891WAC3
1,010,000 HYUNDAI AUTO RECEIVABLES TRUST 1,009,961.12 969,024.30 0.65 40,936.82- 996.53 ASSET BCKD SEC SER 2022-A CL A3 99.9962 95.9430
DTD 03/16/2022 2.220% 10/15/2026

CALLABLE
CUSIP 448977AD0
451,348.32 HYUNDAI AUTO RECEIVABLES TRUST 451,300.83 436,164.96 0.29 15,135.87- 76.23 SER 2021-A CL A3 *0 DAY DELAY* 99.9895 96.6360
DTD 04/28/21 0.380 09/15/2025
CUSIP 44933LAC7
1,330,000 HYUNDAI AUTO RECEIVABLES TRUST 1,296,371.65 1,264,045.30 0.85 32,326.35- 437.42 SER 2021-C CL A3 *0 DAY DELAY* 97.4716 95.0410
DTD 11/17/21 0.740 05/15/2026
CUSIP 44935FAD6
2,800,000 INTER-AMERICAN DEVEL BK 2,792,300.00 2,699,928.00 1.82 92,372.00- 1,477.78 DTD 09/02/20 0.250 11/15/2023 99.7250 96.4260

MOODY'S RATING AAA
CUSIP 4581X0DP0
737
CC 03-07-2023
737 of 773
PAGE 10

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 2,460,000 INTER-AMERICAN DEVEL BK 2,448,733.20 2,234,098.20 1.51 214,635.00- 6,038.96 DTD 04/20/21 0.875 04/20/2026 99.5420 90.8170

MOODY'S RATING AAA
CUSIP 4581X0DV7
2,400,000 INTL BK RECON & DEVELOP 2,388,859.25 2,181,504.00 1.47 207,355.25- 3,100.00 DTD 10/28/20 0.500 10/28/2025 99.5358 90.8960

MOODY'S RATING AAA
CUSIP 459058JL8
2,500,000 INTL FINANCE CORP 2,471,150.00 2,286,900.00 1.54 184,250.00- 390.63 DTD 07/16/20 0.375 07/16/2025 98.8460 91.4760

MOODY'S RATING AAA
CUSIP 45950KCT5
1,030,000 JOHN DEERE CAPITAL CORP 1,029,268.70 987,924.50 0.67 41,344.20- 180.25 MED TERM NOTE 99.9290 95.9150
DTD 03/04/21 0.450 01/17/2024
MOODY'S RATING A2
CUSIP 24422EVN6
450,000 JOHN DEERE OWNER TRUST 449,900.46 431,253.00 0.29 18,647.46- 464.00 ASSET BCKD SEC SER 2022-A CL A3 99.9779 95.8340
DTD 03/16/2022 2.320% 09/16/2026

NON CALLABLE

MOODY'S RATING AAA
CUSIP 47787JAC2
87,422.64 JOHN DEERE OWNER TRUST 87,409.31 86,142.77 0.06 1,266.54- 19.82 SER 2020-B CL A3 *0 DAY DELAY* 99.9848 98.5360
DTD 07/22/20 0.510 11/15/2024

MOODY'S RATING AAA
CUSIP 47787NAC3

0.01 JOHN DEERE OWNER TRUST 0.00 0.01 0.00 0.01 0.00
SER 2019-B CL A3 *0 DAY DELAY* 0.0000 99.9820
DTD 07/24/19 2.210 12/15/2023

MOODY'S RATING AAA
CUSIP 477870AC3
738
CC 03-07-2023
738 of 773
PAGE 11

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 49,408.28 JOHN DEERE OWNER TRUST 49,405.26 49,031.29 0.03 373.97- 24.16 SER 2020-A CL A3 *0 DAY DELAY* 99.9939 99.2370
DTD 03/11/20 1.100 08/15/2024

MOODY'S RATING AAA
CUSIP 47789KAC7
580,000 JOHN DEERE OWNER TRUST 579,948.26 552,606.60 0.37 27,341.66- 125.67 SER 2021-B CL A3 *0 DAY DELAY* 99.9911 95.2770
DTD 07/21/21 0.520 03/16/2026

MOODY'S RATING AAA
CUSIP 47789QAC4
655,000 JOHN DEERE OWNER TRUST 654,937.45 640,609.65 0.43 14,327.80- 1,088.76 ASSET BCKD SEC SER 2022-B CL A3 99.9905 97.8030
DTD 07/20/2022 3.740% 02/16/2027

NON CALLABLE

MOODY'S RATING AAA
CUSIP 47800AAC4
1,050,000 JOHN DEERE OWNER TRUST 1,049,918.52 1,061,697.00 0.72 11,778.48 2,375.33 ASSET BCKD SEC SER 2022-C CL A3 99.9923 101.1140
DTD 10/19/2022 5.090% 06/15/2027

CALLABLE

MOODY'S RATING AAA
CUSIP 47800BAC2
655,000 JPMORGAN CHASE & 655,406.85 617,147.55 0.42 38,259.30- 669.96 SER F2F 100.0621 94.2210
DTD 06/23/21 06/23/2025
MOODY'S RATING A1
CUSIP 46647PCK0
401,000 JPMORGAN CHASE & CO 415,969.33 376,599.15 0.25 39,370.18- 2,297.03 DTD 04/22/20 04/22/2026 103.7330 93.9150
MOODY'S RATING A1
CUSIP 46647PBK1
739
CC 03-07-2023
739 of 773
PAGE 12

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,370,000 JPMORGAN CHASE & CO 1,371,773.90 1,289,581.00 0.87 82,192.90- 1,881.47 DTD 06/01/21 06/01/2025 100.1295 94.1300
MOODY'S RATING A1
CUSIP 46647PCH7
1,000,000 MASSMUTUAL GLOBAL FUNDIN 1,002,230.00 895,060.00 0.60 107,170.00- 500.00 144A PRIV PLCMT 1.200 07/16/2026 100.2230 89.5060
MOODY'S RATING AA3
CUSIP 57629WDE7
16,551.04 MERCEDES-BENZ AUTO LEASE TRUST 16,550.20 16,521.91 0.01 28.29- 2.94 SER 2020-B CL A3 *0 DAY DELAY* 99.9949 99.8240
DTD 09/23/20 0.400 11/15/2023
CUSIP 58769EAC2
1,115,000 MET LIFE GLOB FUNDING I 1,113,728.90 1,004,514.65 0.68 109,214.25- 1,161.46 144A PRIV PLCMT 1.875 01/11/2027 99.8860 90.0910
MOODY'S RATING AA3
CUSIP 59217GER6
770,000 MET TOWER GLOBAL FUNDING 769,291.60 680,810.90 0.46 88,480.70- 3,662.85 144A PRIV PLCMT 1.250 09/14/2026 99.9080 88.4170
MOODY'S RATING AA3
CUSIP 58989V2D5
650,000 MORGAN STANLEY 615,699.50 610,844.00 0.41 4,855.50- 3,674.02 DTD 04/28/20 04/28/2026 94.7230 93.9760
MOODY'S RATING A1
CUSIP 6174468Q5
1,680,000 NEW YORK LIFE GLOBAL FDG 1,678,185.60 1,579,771.20 1.07 98,414.40- 1,150.33 144A PRIV PLCMT 1.450 01/14/2025 99.8920 94.0340

MOODY'S RATING AAA
CUSIP 64952WEK5
118,729 NISSAN AUTO RECEIVABLES OWNER 119,318.00 118,372.81 0.08 945.19- 101.84 SER 2019-C CL A3 *0 DAY DELAY* 100.4961 99.7000
DTD 10/23/19 1.930 07/15/2024

MOODY'S RATING AAA
CUSIP 65479JAD5
740
CC 03-07-2023
740 of 773
PAGE 13

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 670,000 NORTHERN TRUST CORP 668,914.60 662,864.50 0.45 6,050.10- 6,030.00 DTD 05/10/2022 4.000% 05/10/2027 99.8380 98.9350

CALLABLE
MOODY'S RATING A2
CUSIP 665859AW4
850,000 NORTHWESTERN MUTUAL GLBL 827,449.50 761,302.50 0.51 66,147.00- 321.11 144A PRIV PLCMT 0.800 01/14/2026 97.3470 89.5650

MOODY'S RATING AAA
CUSIP 66815L2A6
1,170,000 NORTHWESTERN MUTUAL GLBL 1,169,602.20 1,153,725.30 0.78 15,876.90- 3,900.00 DTD 07/01/2022 4.000% 07/01/2025 99.9660 98.6090

NON CALLABLE
144A PRIVATE PLACEMENT

MOODY'S RATING AAA
CUSIP 66815L2J7
370,000 PACCAR FINANCIAL CORP 369,182.30 355,607.00 0.24 13,575.30- 3,668.14 MED TERM NOTE 99.7790 96.1100
DTD 08/15/19 2.150 08/15/2024
MOODY'S RATING A1
CUSIP 69371RQ25
680,000 PACCAR FINANCIAL CORP 679,632.80 639,315.60 0.43 40,317.20- 1,624.44 MED TERM NOTE 99.9460 94.0170
DTD 08/09/21 0.500 08/09/2024
MOODY'S RATING A1
CUSIP 69371RR40
885,000 PACCAR FINANCIAL CORP 884,769.90 854,591.40 0.58 30,178.50- 7,987.13 DTD 04/07/2022 2.850% 04/07/2025 99.9740 96.5640

NON CALLABLE
MOODY'S RATING A1
CUSIP 69371RR73
904,000 PRICOA GLOBAL FUNDING 1 832,972.72 818,129.04 0.55 14,843.68- 3,013.33 144A PRIV PLCMT 0.800 09/01/2025 92.1430 90.5010
MOODY'S RATING AA3
CUSIP 74153WCM9
741
CC 03-07-2023
741 of 773
PAGE 14

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 885,000 PRICOA GLOBAL FUNDING 1 884,088.45 825,882.00 0.56 58,206.45- 1,554.90 144A PRIV PLCMT 1.150 12/06/2024 99.8970 93.3200
MOODY'S RATING AA3
CUSIP 74153WCQ0
1,500,000 ROYAL BANK OF CANADA 1,533,359.18 1,452,300.00 0.98 81,059.18- 1,593.75 DTD 07/16/19 2.550 07/16/2024 102.2240 96.8200
MOODY'S RATING A1
CUSIP 78013XZU5
1,050,000 ROYAL BANK OF CANADA 1,049,611.50 1,023,655.50 0.69 25,956.00- 10,532.81 MEDIUM TERM NOTE 99.9630 97.4910

CONVERTIBLE
DTD 04/14/2022 3.375% 04/14/2025

NON CALLABLE
MOODY'S RATING A1
CUSIP 78016EZ59
1,760,000 SALESFORCE.COM INC 1,748,937.40 1,661,510.40 1.12 87,427.00- 488.89 DTD 07/12/21 0.625 07/15/2024 99.3715 94.4040
MOODY'S RATING A2
CUSIP 79466LAG9
1,500,000 TORONTO-DOMINION BANK 1,527,255.00 1,459,770.00 0.98 67,485.00- 5,410.42 MED TERM NOTE 101.8170 97.3180
DTD 06/12/19 2.650 06/12/2024
MOODY'S RATING A1
CUSIP 89114QCA4
700,000 TORONTO-DOMINION BANK 674,737.00 656,523.00 0.44 18,214.00- 592.08 MED TERM NOTE SER FXD 96.3910 93.7890
DTD 01/12/22 1.450 01/10/2025
MOODY'S RATING A1
CUSIP 89114TZL9
194,135.56 TOYOTA AUTO RECEIVABLES OWNER 194,099.39 190,949.80 0.13 3,149.59- 30.20 SER 2020-D CL A3 *0 DAY DELAY* 99.9814 98.3590
DTD 10/13/20 0.350 01/15/2025
CUSIP 89236XAC0
742
CC 03-07-2023
742 of 773
PAGE 15

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 430,000 TOYOTA AUTO RECEIVABLES OWNER 429,990.84 407,764.70 0.28 22,226.14- 135.69 SER 2021-D CL A3 *0 DAY DELAY* 99.9979 94.8290
DTD 11/15/21 0.710 04/15/2026
CUSIP 89238JAC9
695,916.59 TOYOTA AUTO RECEIVABLES OWNER 695,787.43 676,639.70 0.46 19,147.73- 80.42 SER 2021-A CL A3 *0 DAY DELAY* 99.9815 97.2300
DTD 02/08/21 0.260 05/15/2025

MOODY'S RATING AAA
CUSIP 89240BAC2
481,084.45 TOYOTA LEASE OWNER TRUST 471,462.76 475,325.87 0.32 3,863.11 46.91 SER 2021-A CL A3 *0 DAY DELAY* 98.0000 98.8030
144A PRIV PLCMT 0.390 04/22/2024

MOODY'S RATING AAA
CUSIP 89238EAC0
1,150,000 TOYOTA LEASE OWNER TRUST 1,149,818.99 1,113,131.00 0.75 36,687.99- 688.72 ASSET BCKD SEC SER 2022-A CL A3 99.9843 96.7940
DTD 02/28/2022 1.960% 02/20/2025

CALLABLE
144A PRIVATE PLACEMENT
CUSIP 89238LAC4
1,385,000 TOYOTA MOTOR CREDIT CORP 1,384,390.60 1,242,372.70 0.84 142,017.90- 1,861.09 MED TERM NOTE 99.9560 89.7020
DTD 06/18/21 1.125 06/18/2026
MOODY'S RATING A1
CUSIP 89236TJK2
1,215,000 TOYOTA MOTOR CREDIT CORP 1,213,371.90 1,144,214.10 0.77 69,157.80- 880.88 DTD 01/13/22 1.450 01/13/2025 99.8660 94.1740
MOODY'S RATING A1
CUSIP 89236TJT3
3,100,000 UNITED STATES TREASURY NOTES 3,057,617.20 2,950,921.00 1.99 106,696.20- 20,830.80 DTD 03/15/2022 1.750% 03/15/2025 98.6328 95.1910

MOODY'S RATING AAA
CUSIP 91282CED9
743
CC 03-07-2023
743 of 773
PAGE 16

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 3,250,000 UNITED STATES TREASURY NOTES 3,260,312.50 3,194,522.50 2.16 65,790.00- 9,337.02 DTD 06/30/2022 3.250% 06/30/2027 100.3173 98.2930

MOODY'S RATING AAA
CUSIP 91282CEW7
400,000 UNITED STATES TREASURY NOTES 393,218.75 385,048.00 0.26 8,170.75- 30.39 DTD 07/31/2022 2.750% 07/31/2027 98.3047 96.2620

MOODY'S RATING AAA
CUSIP 91282CFB2
4,500,000 UNITED STATES TREASURY NOTES 4,468,902.34 4,402,620.00 2.97 66,282.34- 59,823.90 DTD 08/31/2022 3.125% 08/31/2027 99.3090 97.8360

MOODY'S RATING AAA
CUSIP 91282CFH9
3,450,000 UNITED STATES TREASURY NOTES 3,421,152.34 3,519,931.50 2.37 98,779.16 48,480.08 DTD 09/30/2022 4.125% 09/30/2027 99.1639 102.0270

MOODY'S RATING AAA
CUSIP 91282CFM8
850,000 UNITED STATES TREASURY NOTES 852,656.25 859,698.50 0.58 7,042.25 5,700.72 DTD 11/30/2022 3.875% 11/30/2027 100.3125 101.1410

MOODY'S RATING AAA
CUSIP 91282CFZ9
2,750,000 UNITED STATES TREASURY NOTES 2,775,107.42 2,781,157.50 1.88 6,050.08 9,419.89 DTD 12/31/2022 3.875% 12/31/2027 100.9130 101.1330

MOODY'S RATING AAA
CUSIP 91282CGC9
1,035,000 UNITEDHEALTH GROUP INC 1,025,051.35 936,954.45 0.63 88,096.90- 2,512.75 DTD 05/19/21 1.150 05/15/2026 99.0388 90.5270
MOODY'S RATING A3
CUSIP 91324PEC2
675,000 UNITEDHEALTH GROUP INC 675,316.70 663,747.75 0.45 11,568.95- 5,272.50 DTD 05/20/2022 3.700% 05/15/2027 100.0469 98.3330

CALLABLE
MOODY'S RATING A3
CUSIP 91324PEG3
744
CC 03-07-2023
744 of 773
PAGE 17

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,250,000 US BANCORP 1,268,262.50 1,210,075.00 0.82 58,187.50- 83.33 DTD 07/29/19 2.400 07/30/2024 101.4610 96.8060
MOODY'S RATING A2
CUSIP 91159HHX1
1,500,000 US TREASURY NOTE 1,469,765.63 1,368,285.00 0.92 101,480.63- 10.36 DTD 07/31/20 0.250 07/31/2025 97.9844 91.2190

MOODY'S RATING AAA
CUSIP 91282CAB7
2,400,000 US TREASURY NOTE 2,366,140.63 2,180,616.00 1.47 185,524.63- 2,043.96 DTD 09/30/20 0.250 09/30/2025 98.5892 90.8590

MOODY'S RATING AAA
CUSIP 91282CAM3
2,450,000 US TREASURY NOTE 2,422,492.19 2,217,813.50 1.50 204,678.69- 1,573.55 DTD 10/31/20 0.250 10/31/2025 98.8772 90.5230

MOODY'S RATING AAA
CUSIP 91282CAT8
2,250,000 US TREASURY NOTE 2,209,658.20 2,039,062.50 1.38 170,595.70- 1,460.34 DTD 11/30/20 0.375 11/30/2025 98.2070 90.6250

MOODY'S RATING AAA
CUSIP 91282CAZ4
2,500,000 US TREASURY NOTE 2,456,445.31 2,255,675.00 1.52 200,770.31- 25.90 DTD 02/01/21 0.375 01/31/2026 98.2578 90.2270

MOODY'S RATING AAA
CUSIP 91282CBH3
1,450,000 US TREASURY NOTE 1,446,488.28 1,380,385.50 0.93 66,102.78- 1,391.92 DTD 03/15/21 0.250 03/15/2024 99.7578 95.1990

MOODY'S RATING AAA
CUSIP 91282CBR1
2,500,000 US TREASURY NOTE 2,493,652.34 2,267,475.00 1.53 226,177.34- 4,816.99 DTD 04/30/21 0.750 04/30/2026 99.7461 90.6990

MOODY'S RATING AAA
CUSIP 91282CBW0
745
CC 03-07-2023
745 of 773
PAGE 18

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,400,000 US TREASURY NOTE 1,379,054.68 1,262,786.00 0.85 116,268.68- 4,173.08 DTD 09/30/21 0.875 09/30/2026 98.5039 90.1990

MOODY'S RATING AAA
CUSIP 91282CCZ2
1,400,000 US TREASURY NOTE 1,391,468.75 1,272,740.00 0.86 118,728.75- 4,046.27 DTD 11/01/21 1.125 10/31/2026 99.3906 90.9100
CUSIP 91282CDG3
2,000,000 US TREASURY NOTE 2,053,613.28 1,959,460.00 1.32 94,153.28- 25,407.61 DTD 02/18/14 2.750 02/15/2024 102.6807 97.9730

MOODY'S RATING AAA
CUSIP 912828B66
1,700,000 US TREASURY NOTE 1,753,191.41 1,647,266.00 1.11 105,925.41- 18,651.49 DTD 08/15/14 2.375 08/15/2024 103.1289 96.8980

MOODY'S RATING AAA
CUSIP 912828D56
2,000,000 US TREASURY NOTE 2,018,574.22 1,930,160.00 1.30 88,414.22- 3,535.91 DTD 06/30/17 2.000 06/30/2024 100.9287 96.5080

MOODY'S RATING AAA
CUSIP 912828XX3
1,700,000 US TREASURY NOTE 1,705,976.56 1,645,685.00 1.11 60,291.56- 8,734.81 DTD 05/01/17 2.000 04/30/2024 100.3516 96.8050

MOODY'S RATING AAA
CUSIP 912828X70
2,100,000 US TREASURY NOTE 2,087,203.13 2,005,416.00 1.35 81,787.13- 3,248.62 DTD 12/31/19 1.750 12/31/2024 99.3906 95.4960
CUSIP 912828YY0
1,500,000 US TREASURY NOTE 1,523,144.53 1,410,465.00 0.95 112,679.53- 7,178.87 DTD 03/02/20 1.125 02/28/2025 101.5430 94.0310

MOODY'S RATING AAA
CUSIP 912828ZC7
746
CC 03-07-2023
746 of 773
PAGE 19

STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF JANUARY 31, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED

PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 2,500,000 US TREASURY NOTE 2,360,839.85 2,302,725.00 1.55 58,114.85- 2,408.49 DTD 04/30/20 0.375 04/30/2025 94.4336 92.1090

MOODY'S RATING AAA
CUSIP 912828ZL7
570,000 VERIZON MASTER TRUST 569,974.92 562,641.30 0.38 7,333.62- 647.90 ASSET BCKD SEC SER 2022-5 CL A1A 99.9956 98.7090
DTD 08/11/2022 VAR CPN 07/20/2027

CALLABLE
CUSIP 92348KAV5
380,548.91 VERIZON OWNER TRUST 380,468.99 374,730.32 0.25 5,738.67- 54.65 SER 2020-B CL A *0 DAY DELAY* 99.9790 98.4710
DTD 08/12/20 0.470 02/20/2025

MOODY'S RATING AAA
CUSIP 92290BAA9
274.3 VERIZON OWNER TRUST 274.28 273.86 0.00 0.42- 0.16 SER 2019-C CL A1A *0 DAY DELAY* 99.9927 99.8380
144A PRIV PLCMT 1.940 04/22/2024
CUSIP 92348AAA3
350,000 WALMART INC 349,338.50 313,666.50 0.21 35,672.00- 1,367.92 DTD 09/17/21 1.050 09/17/2026 99.8110 89.6190
MOODY'S RATING AA2
CUSIP 931142ER0
TOTAL BOND & NOTES 156,228,355.48 148,037,128.65 99.88 8,191,226.83- 534,297.01 ====================================================================================================================================== TOTAL INVESTMENTS 156,399,348.51 148,208,121.68 100.00 8,191,226.83- 535,252.38 TOTAL ACCRUALS 535,252.38 535,252.38
====================================================================================================================================== TOTAL ACCRUALS AND INVESTMENTS 156,934,600.89 148,743,374.06 747
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747 of 773
PAGE 20

CASH SUMMARY CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

CASH SUMMARY

DESCRIPTION PRINCIPAL CASH INCOME CASH
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ BEGINNING BALANCE 0.00 0.00

RECEIPTS
NET INTEREST COLLECTED 0.00 334,755.04
TRANSFER RECEIPTS 334,755.04 0.00
SALES 2,007,861.92 0.00
CASH MANAGEMENT SALES 1,325,276.81 0.00
TOTAL CASH RECEIPTS 3,667,893.77 334,755.04

DISBURSEMENTS
INVESTMENT MANAGEMENT EXPENSES 9,023.50- 0.00
ADMINISTRATIVE EXPENSES 4,467.96- 0.00
TRANSFER DISBURSEMENTS 0.00 334,755.04-
PURCHASES 2,775,107.42- 0.00
CASH MANAGEMENT PURCHASES 879,294.89- 0.00
TOTAL CASH DISBURSEMENTS 3,667,893.77- 334,755.04-
ENDING BALANCE 0.00 0.00
________________________________________________________________________________________________________________________________________ 748
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STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ BEGINNING BALANCE 0.00 156,139,815.13
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯

CASH EQUIVALENTS
01/03/23 INTEREST RECEIVED 1,170.97
AS 100% TREAS MM FD-SVC CL #008
INTEREST FROM 12/1/22 TO 12/31/22
01/03/23 INTEREST RECEIVED 87.78

PRINCIPAL PUBLIC DEPOSIT SWEEP PRGRM
INTEREST FROM 12/1/22 TO 12/31/22
01/31/23 879,207.11 CASH SWEEP PURCHASES FOR STMT PERIOD 879,207.11- 879,207.11 AS 100% TREAS MM FD-SVC CL #008
13 TRANSACTIONS
01/31/23 87.78 CASH SWEEP PURCHASES FOR STMT PERIOD 87.78- 87.78

PRINCIPAL PUBLIC DEPOSIT SWEEP PRGRM
1 TRANSACTIONS
01/31/23 1,281,757- CASH SWEEP SALES FOR STMT PERIOD 1,281,757.00 1,281,757.00- AS 100% TREAS MM FD-SVC CL #008
4 TRANSACTIONS
01/31/23 43,519.81- CASH SWEEP SALES FOR STMT PERIOD 43,519.81 43,519.81-

PRINCIPAL PUBLIC DEPOSIT SWEEP PRGRM
1 TRANSACTIONS

BONDS & NOTES
01/31/23 INTEREST RECEIVED 28,056.25
AIR PRODUCTS & CHEMI 3.350% 7/31/24
CUSIP 009158AV8
INTEREST ON 1,675,000.000 UNITS
01/17/23 INTEREST RECEIVED 2,845.38
AMERICAN EXPRES ABS 2.210% 3/15/27
CUSIP 02589BAA8
$0.00184/PV ON 1,545,000.00 PV
DUE 1/15/23
749
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PAGE 22

STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/17/23 INTEREST RECEIVED 3,884.38
AMERICAN EXPRESS ABS 3.390% 5/17/27
CUSIP 02582JJT8
$0.00283/PV ON 1,375,000.00 PV
DUE 1/15/23
01/09/23 INTEREST RECEIVED 1,875.00
BANK OF MONTREAL 0.625% 7/09/24
CUSIP 06367TQW3
INTEREST ON 600,000.000 UNITS
01/25/23 INTEREST RECEIVED 113.91
BMW VEHICLE LEASE TR 0.330% 12/26/24
CUSIP 09690AAC7
$0.00027/PV ON 414,211.71 PV
DUE 1/25/23
01/25/23 38,027.05- PAID DOWN 38,027.05 38,023.13- 3.92 BMW VEHICLE LEASE TR 0.330% 12/26/24
CUSIP 09690AAC7
01/25/23 INTEREST RECEIVED 412.50
BMW VEHICLE LEASE TR 1.100% 3/25/25
CUSIP 05601XAC3
$0.00092/PV ON 450,000.00 PV
DUE 1/25/23
01/25/23 INTEREST RECEIVED 1,417.75
BMW VEHICLE OWN ABS 3.210% 8/25/26
CUSIP 05602RAD3
$0.00268/PV ON 530,000.00 PV
DUE 1/25/23
01/23/23 INTEREST RECEIVED 2,343.75
FED HOME LN MTG CORP 0.375% 7/21/25
CUSIP 3137EAEU9
INTEREST ON 1,250,000.000 UNITS
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STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/25/23 INTEREST RECEIVED 3,435.25
FED HOME LN MTG CORP 3.171% 10/25/24
CUSIP 3137BFE98
$0.00264/PV ON 1,300,000.00 PV
DUE 1/25/23
01/09/23 INTEREST RECEIVED 10,521.88
FED NATL MTG ASSN 1.625% 1/07/25
CUSIP 3135G0X24
INTEREST ON 1,295,000.000 UNITS
01/03/23 INTEREST RECEIVED 13,125.00
FED NATL MTG ASSN 1.750% 7/02/24
CUSIP 3135G0V75
INTEREST ON 1,500,000.000 UNITS
01/25/23 INTEREST RECEIVED 1,437.04
FHLMC MULTIFAMILY ST 2.653% 8/25/26
CUSIP 3137BSP72
$0.00221/PV ON 650,000.00 PV
DUE 1/25/23
01/25/23 INTEREST RECEIVED 1,422.62
FHLMC MULTIFAMILY ST 2.995% 12/25/25
CUSIP 3137BN6G4
$0.00250/PV ON 570,000.00 PV
DUE 1/25/23
01/25/23 INTEREST RECEIVED 2,508.33
FHLMC MULTIFAMILY ST 3.010% 8/25/25
CUSIP 3137BLMZ8
$0.00251/PV ON 1,000,000.00 PV
DUE 1/25/23
01/25/23 INTEREST RECEIVED 2,703.33
FHLMC MULTIFAMILY ST 3.244% 8/25/27
CUSIP 3137FBBX3
$0.00270/PV ON 1,000,000.00 PV
DUE 1/25/23
751
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STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/25/23 INTEREST RECEIVED 1,212.93
FHLMC MULTIFAMILY ST 3.308% 9/25/25
CUSIP 3137BM7C4
$0.00276/PV ON 440,000.00 PV
DUE 1/25/23
01/17/23 INTEREST RECEIVED 1,007.50
GM FINANCIAL ABS 3.100% 2/16/27
CUSIP 362585AC5
$0.00258/PV ON 390,000.00 PV
DUE 1/16/23
01/20/23 INTEREST RECEIVED 313.63
GM FINANCIAL AUTOMOB 0.390% 10/21/24
CUSIP 36262XAC8
$0.00032/PV ON 965,000.00 PV
DUE 1/20/23
01/20/23 INTEREST RECEIVED 1,496.25
GM FINANCIAL AUTOMOB 1.850% 3/20/25
CUSIP 36265MAC9
$0.00158/PV ON 945,000.00 PV
DUE 1/20/23
01/17/23 INTEREST RECEIVED 198.33
GM FINANCIAL SECURIT 0.680% 9/16/26
CUSIP 362554AC1
$0.00057/PV ON 350,000.00 PV
DUE 1/16/23
01/17/23 INTEREST RECEIVED 309.75
GM FINANCIAL SECURIT 1.260% 11/16/26
CUSIP 380146AC4
$0.00105/PV ON 295,000.00 PV
DUE 1/16/23
752
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STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/23/23 INTEREST RECEIVED 46.55
HONDA AUTO RECEIVABL 0.270% 4/21/25
CUSIP 43813GAC5
$0.00023/PV ON 206,866.51 PV
DUE 1/21/23
01/23/23 15,420.18- PAID DOWN 15,420.18 15,419.90- 0.28 HONDA AUTO RECEIVABL 0.270% 4/21/25
CUSIP 43813GAC5
TO SETTLE ON 01/23/2023
01/18/23 INTEREST RECEIVED 88.93
HONDA AUTO RECEIVABL 0.370% 10/18/24
CUSIP 43813KAC6
$0.00031/PV ON 288,408.17 PV
DUE 1/18/23
01/18/23 28,524.5- PAID DOWN 28,524.50 28,520.31- 4.19
HONDA AUTO RECEIVABL 0.370% 10/18/24
CUSIP 43813KAC6
01/17/23 INTEREST RECEIVED 37.64
HONDA AUTO RECEIVABL 0.820% 7/15/24
CUSIP 43813DAC2
$0.00068/PV ON 55,080.52 PV
DUE 1/15/23
01/17/23 6,874.28- PAID DOWN 6,874.28 6,873.74- 0.54
HONDA AUTO RECEIVABL 0.820% 7/15/24
CUSIP 43813DAC2
AT $2,048.9938 ON TRADE DATE 01/15/2023
TO SETTLE ON 01/17/2023
01/23/23 INTEREST RECEIVED 337.33
HONDA AUTO RECEIVABL 0.880% 1/21/26
CUSIP 43815GAC3
$0.00073/PV ON 460,000.00 PV
DUE 1/21/23
753
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STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/17/23 INTEREST RECEIVED 1,159.33
HONDA AUTO RECEIVABL 1.000% 5/15/26
CUSIP 43815BAC4
$0.00157/PV ON 740,000.00 PV
DUE 1/15/23
01/17/23 INTEREST RECEIVED 217.25
HYUNDAI AUTO LEASE 0.330% 6/17/24
CUSIP 44891VAC5
$0.00027/PV ON 790,000.00 PV
DUE 1/15/23
01/18/23 76,648.82- PAID DOWN 76,648.82 76,637.32- 11.50 HYUNDAI AUTO LEASE 0.330% 6/17/24
CUSIP 44891VAC5
TO SETTLE ON 01/18/2023
01/17/23 INTEREST RECEIVED 522.00
HYUNDAI AUTO LEASE 1.160% 1/15/25
CUSIP 44891WAC3
$0.00097/PV ON 540,000.00 PV
DUE 1/15/23
01/17/23 INTEREST RECEIVED 1,868.50
HYUNDAI AUTO REC ABS 2.220% 10/15/26
CUSIP 448977AD0
$0.00185/PV ON 1,010,000.00 PV
DUE 1/15/23
01/17/23 INTEREST RECEIVED 152.39
HYUNDAI AUTO RECEIVA 0.380% 9/15/25
CUSIP 44933LAC7
$0.00032/PV ON 481,215.39 PV
DUE 1/15/23
754
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STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/17/23 29,867.07- PAID DOWN 29,867.07 29,863.93- 3.14 HYUNDAI AUTO RECEIVA 0.380% 9/15/25
CUSIP 44933LAC7
TO SETTLE ON 01/17/2023
01/17/23 INTEREST RECEIVED 820.17
HYUNDAI AUTO RECEIVA 0.740% 5/15/26
CUSIP 44935FAD6
$0.00062/PV ON 1,330,000.00 PV
DUE 1/15/23
01/17/23 INTEREST RECEIVED 4,700.00
INTL FINANCE CORP 0.375% 7/16/25
CUSIP 45950KCT5
INTEREST ON 2,500,000.000 UNITS
01/17/23 INTEREST RECEIVED 2,317.50
JOHN DEERE CAPITAL 0.450% 1/17/24
CUSIP 24422EVN6
INTEREST ON 1,030,000.000 UNITS
01/17/23 INTEREST RECEIVED 4,453.75
JOHN DEERE OWNE ABS 5.090% 6/15/27
CUSIP 47800BAC2
$0.00424/PV ON 1,050,000.00 PV
DUE 1/15/23
01/17/23 INTEREST RECEIVED 870.00
JOHN DEERE OWNER ABS 2.320% 9/16/26
CUSIP 47787JAC2
$0.00193/PV ON 450,000.00 PV
DUE 1/15/23
01/17/23 INTEREST RECEIVED 2,041.42
JOHN DEERE OWNER ABS 3.740% 2/16/27
CUSIP 47800AAC4
$0.00312/PV ON 655,000.00 PV
DUE 1/15/23
755
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STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/17/23 INTEREST RECEIVED 41.95
JOHN DEERE OWNER TRU 0.510% 11/15/24
CUSIP 47787NAC3
$0.00042/PV ON 98,707.84 PV
DUE 1/15/23
01/17/23 11,285.2- PAID DOWN 11,285.20 11,283.48- 1.72
JOHN DEERE OWNER TRU 0.510% 11/15/24
CUSIP 47787NAC3
TO SETTLE ON 01/17/2023
01/17/23 INTEREST RECEIVED 251.33
JOHN DEERE OWNER TRU 0.520% 3/16/26
CUSIP 47789QAC4
$0.00043/PV ON 580,000.00 PV
DUE 1/15/23
01/17/23 INTEREST RECEIVED 54.75
JOHN DEERE OWNER TRU 1.100% 8/15/24
CUSIP 47789KAC7
$0.00092/PV ON 59,731.79 PV
DUE 1/15/23
01/17/23 10,323.51- PAID DOWN 10,323.51 10,322.88- 0.63 JOHN DEERE OWNER TRU 1.100% 8/15/24
CUSIP 47789KAC7
AT $1,364.3961 ON TRADE DATE 01/15/2023
TO SETTLE ON 01/17/2023
01/17/23 0.01 SECURITY RECEIVED
JOHN DEERE OWNER TRU 2.210% 12/15/23
CUSIP 477870AC3

REINSTATE OF POSITION
01/17/23 INTEREST RECEIVED 20.63
MERCEDES-BENZ AUTO 0.400% 11/15/23
CUSIP 58769EAC2
$0.00033/PV ON 61,876.91 PV
DUE 1/15/23
756
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PAGE 29

STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/17/23 45,325.87- PAID DOWN 45,325.87 45,323.57- 2.30 MERCEDES-BENZ AUTO 0.400% 11/15/23
CUSIP 58769EAC2
AT $310.7576 ON TRADE DATE 01/15/2023
TO SETTLE ON 01/17/2023
01/17/23 INTEREST RECEIVED 261.28
NISSAN AUTO RECEIVAB 1.930% 7/15/24
CUSIP 65479JAD5
$0.00161/PV ON 162,453.92 PV
DUE 1/15/23
01/17/23 43,724.92- PAID DOWN 43,724.92 43,941.83- 216.91- NISSAN AUTO RECEIVAB 1.930% 7/15/24
CUSIP 65479JAD5
TO SETTLE ON 01/17/2023
01/03/23 INTEREST RECEIVED 23,400.00
NW MUTUAL GLOBAL 4.000% 7/01/25
CUSIP 66815L2J7
INTEREST ON 1,170,000.000 UNITS
01/17/23 INTEREST RECEIVED 6,000.00
P/P MASSMUTUAL GLOBA 1.200% 7/16/26
CUSIP 57629WDE7
INTEREST ON 1,000,000.000 UNITS
01/11/23 INTEREST RECEIVED 10,453.13
P/P MET LIFE GLOB FU 1.875% 1/11/27
CUSIP 59217GER6
INTEREST ON 1,115,000.000 UNITS
01/17/23 INTEREST RECEIVED 12,180.00
P/P NEW YORK LIFE GL 1.450% 1/14/25
CUSIP 64952WEK5
INTEREST ON 1,680,000.000 UNITS
757
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757 of 773
PAGE 30

STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/17/23 INTEREST RECEIVED 3,400.00
P/P NORTHWESTERN MUT 0.800% 1/14/26
CUSIP 66815L2A6
INTEREST ON 850,000.000 UNITS
01/17/23 INTEREST RECEIVED 19,125.00
ROYAL BANK OF CANADA 2.550% 7/16/24
CUSIP 78013XZU5
INTEREST ON 1,500,000.000 UNITS
01/17/23 INTEREST RECEIVED 5,500.00
SALESFORCE.COM INC 0.625% 7/15/24
CUSIP 79466LAG9
INTEREST ON 1,760,000.000 UNITS
01/10/23 INTEREST RECEIVED 5,075.00
TORONTO-DOMINION BAN 1.450% 1/10/25
CUSIP 89114TZL9
INTEREST ON 700,000.000 UNITS
01/17/23 INTEREST RECEIVED 162.23
TOYOTA AUTO RECEIVAB 0.260% 5/15/25
CUSIP 89240BAC2
$0.00022/PV ON 748,729.92 PV
DUE 1/15/23
01/17/23 52,813.33- PAID DOWN 52,813.33 52,803.53- 9.80 TOYOTA AUTO RECEIVAB 0.260% 5/15/25
CUSIP 89240BAC2
AT $266.7008 ON TRADE DATE 01/15/2023
TO SETTLE ON 01/17/2023
01/17/23 INTEREST RECEIVED 63.12
TOYOTA AUTO RECEIVAB 0.350% 1/15/25
CUSIP 89236XAC0
$0.00029/PV ON 216,428.62 PV
DUE 1/15/23
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PAGE 31

STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/17/23 22,293.06- PAID DOWN 22,293.06 22,288.91- 4.15 TOYOTA AUTO RECEIVAB 0.350% 1/15/25
CUSIP 89236XAC0
TO SETTLE ON 01/17/2023
01/17/23 INTEREST RECEIVED 254.42
TOYOTA AUTO RECEIVAB 0.710% 4/15/26
CUSIP 89238JAC9
$0.00059/PV ON 430,000.00 PV
DUE 1/15/23
01/20/23 INTEREST RECEIVED 1,878.33
TOYOTA LEASE OWN ABS 1.960% 2/20/25
CUSIP 89238LAC4
$0.00163/PV ON 1,150,000.00 PV
DUE 1/20/23
01/20/23 INTEREST RECEIVED 180.33
TOYOTA LEASE OWNER 0.390% 4/22/24
CUSIP 89238EAC0
$0.00032/PV ON 554,864.60 PV
DUE 1/20/23
01/20/23 73,780.15- PAID DOWN 73,780.15 72,304.55- 1,475.60 TOYOTA LEASE OWNER 0.390% 4/22/24
CUSIP 89238EAC0
01/13/23 INTEREST RECEIVED 8,808.75
TOYOTA MOTOR CREDIT 1.450% 1/13/25
CUSIP 89236TJT3
INTEREST ON 1,215,000.000 UNITS
01/31/23 INTEREST RECEIVED 5,500.00
U.S. TREASURY NOTES 2.750% 7/31/27
CUSIP 91282CFB2
INTEREST ON 400,000.000 UNITS
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PAGE 32

STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/03/23 INTEREST RECEIVED 52,812.50
U.S. TREASURY NOTES 3.250% 6/30/27
CUSIP 91282CEW7
INTEREST ON 3,250,000.000 UNITS
01/06/23 750,000 PURCHASED 747,451.17- 747,451.17
U.S. TREASURY NOTES 3.750% 12/31/27
CUSIP 91282CGC9
AT $99.6602 ON TRADE DATE 01/05/2023
TO SETTLE ON 01/06/2023

CITADEL DERIVATIVES GROUP LLC
01/06/23 ACCRUED INTEREST ON PURCHASE 481.70-
U.S. TREASURY NOTES 3.750% 12/31/27
CUSIP 91282CGC9
01/26/23 2,000,000 PURCHASED 2,027,656.25- 2,027,656.25 U.S. TREASURY NOTES 3.875% 12/31/27
CUSIP 91282CGC9
AT $101.3828 ON TRADE DATE 01/25/2023
TO SETTLE ON 01/26/2023
J.P. MORGAN SECURITIES INC., -
01/26/23 ACCRUED INTEREST ON PURCHASE 5,566.30-
U.S. TREASURY NOTES 3.875% 12/31/27
CUSIP 91282CGC9
01/30/23 INTEREST RECEIVED 15,000.00
US BANCORP 2.400% 7/30/24
CUSIP 91159HHX1
INTEREST ON 1,250,000.000 UNITS
01/31/23 INTEREST RECEIVED 1,875.00
US TREASURY NOTE 0.250% 7/31/25
CUSIP 91282CAB7
INTEREST ON 1,500,000.000 UNITS
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PAGE 33

STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/31/23 INTEREST RECEIVED 4,687.50
US TREASURY NOTE 0.375% 1/31/26
CUSIP 91282CBH3
INTEREST ON 2,500,000.000 UNITS
01/03/23 INTEREST RECEIVED 18,375.00
US TREASURY NOTE 1.750% 12/31/24
CUSIP 912828YY0
INTEREST ON 2,100,000.000 UNITS
01/03/23 INTEREST RECEIVED 20,000.00
US TREASURY NOTE 2.000% 6/30/24
CUSIP 912828XX3
INTEREST ON 2,000,000.000 UNITS
01/03/23 INTEREST RECEIVED 16,875.00
US TREASURY NOTE 2.250% 12/31/23
CUSIP 912828V23
INTEREST ON 1,500,000.000 UNITS
01/26/23 1,500,000- SOLD 1,466,425.78 1,529,472.66- 63,046.88- US TREASURY NOTE 2.250% 12/31/23
CUSIP 912828V23
AT $97.7617 ON TRADE DATE 01/25/2023
TO SETTLE ON 01/26/2023
J.P. MORGAN SECURITIES INC., -
01/26/23 ACCRUED INTEREST ON SALE 2,424.03
US TREASURY NOTE 2.250% 12/31/23
CUSIP 912828V23
01/20/23 INTEREST RECEIVED 1,767.00
VERIZON MAST ABS V-M 3.720% 7/20/27
CUSIP 92348KAV5
$0.00310/PV ON 570,000.00 PV
DUE 1/20/23
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PAGE 34

STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/20/23 INTEREST RECEIVED 176.00
VERIZON OWNER TRUST 0.470% 2/20/25
CUSIP 92290BAA9
$0.00039/PV ON 449,373.02 PV
DUE 1/20/23
01/20/23 68,824.11- PAID DOWN 68,824.11 68,809.66- 14.45 VERIZON OWNER TRUST 0.470% 2/20/25
CUSIP 92290BAA9
01/20/23 INTEREST RECEIVED 29.07
VERIZON OWNER TRUST 1.940% 4/22/24
CUSIP 92348AAA3
$0.00162/PV ON 17,978.39 PV
DUE 1/20/23
01/20/23 17,704.09- PAID DOWN 17,704.09 17,702.72- 1.37 VERIZON OWNER TRUST 1.940% 4/22/24
CUSIP 92348AAA3
01/25/23 INTEREST RECEIVED 2,639.42
VR FHLMC MULTIFAMI 3.334% 8/25/25
CUSIP 3137BLW95

TRANSFER RECEIPTS
01/03/23 ADDITION TO ACCOUNT 145,846.25

TRANSFER FROM INCOME
01/09/23 ADDITION TO ACCOUNT 11,915.18

TRANSFER FROM INCOME
01/10/23 ADDITION TO ACCOUNT 5,075.00

TRANSFER FROM INCOME
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PAGE 35

STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 01/11/23 ADDITION TO ACCOUNT 10,453.13

TRANSFER FROM INCOME
01/13/23 ADDITION TO ACCOUNT 8,808.75

TRANSFER FROM INCOME
01/17/23 ADDITION TO ACCOUNT 78,567.42

TRANSFER FROM INCOME
01/20/23 ADDITION TO ACCOUNT 2,082.12

TRANSFER FROM INCOME
01/23/23 ADDITION TO ACCOUNT 2,727.63

TRANSFER FROM INCOME
01/25/23 ADDITION TO ACCOUNT 14,663.66

TRANSFER FROM INCOME
01/30/23 ADDITION TO ACCOUNT 14,497.15

TRANSFER FROM INCOME
01/31/23 ADDITION TO ACCOUNT 40,118.75

TRANSFER FROM INCOME

INVESTMENT MANAGEMENT EXPENSES
01/06/23 INVESTMENT MGMT FEE 9,023.50-

PAID TO CHANDLER ASSET MANAGEMENT INC

CHANDLER ASSET MGMT FEE

ADMINISTRATIVE EXPENSES
01/20/23 ADMINISTRATIVE FEE/EXPENSE 4,467.96-

CUSTODIAN FEE-PRIN
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INVESTMENT AND INSURANCE PRODUCTS ARE:
• NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) OR ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT, OBLIGATION OF, OR GUARANTEED BY ANY BANK OR BANKING AFFILIATE • SUBJECT TO INVESTMENT RISKS AND MAY LOSE VALUE, INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED PAGE 36

STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD JANUARY 1, 2023 THROUGH JANUARY 31, 2023 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯

STATEMENT OF TRANSACTIONS

REALIZED

DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯

TRANSFER DISBURSEMENTS
01/03/23 TRANSFER TO PRINCIPAL 145,846.25-
01/09/23 TRANSFER TO PRINCIPAL 11,915.18-
01/10/23 TRANSFER TO PRINCIPAL 5,075.00-
01/11/23 TRANSFER TO PRINCIPAL 10,453.13-
01/13/23 TRANSFER TO PRINCIPAL 8,808.75-
01/17/23 TRANSFER TO PRINCIPAL 78,567.42-
01/20/23 TRANSFER TO PRINCIPAL 2,082.12-
01/23/23 TRANSFER TO PRINCIPAL 2,727.63-
01/25/23 TRANSFER TO PRINCIPAL 14,663.66-
01/30/23 TRANSFER TO PRINCIPAL 14,497.15-
01/31/23 TRANSFER TO PRINCIPAL 40,118.75-
================================================================================================================= ENDING BALANCE 0.00 156,399,348.51
¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
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CITY OF CUPERTINO
PARS Post-Employment Benefits Trust 1/1/2023 to 1/31/2023 Kristina Alfaro
Director of Administrative Services
City of Cupertino
10300 Torre Ave.

Cupertino, CA 95014
Account Summary
Source 1/1/2023 Contributions Earnings Expenses Distributions Transfers 1/31/2023 OPEB 1001 $31,629,086.24 $0.00 $2,031,633.90 $9,479.12 $0.00 $0.00 $33,651,241.02 PENSION 1002 $17,395,500.77 $0.00 $1,117,359.14 $5,213.34 $0.00 $0.00 $18,507,646.57 Totals $49,024,587.01 $0.00 $3,148,993.04 $14,692.46 $0.00 $0.00 $52,158,887.59 Investment Selection
Source
OPEB

PENSION
Investment Objective
Source
OPEB

PENSION
Investment Return
Source 1-Month 3-Months 1-Year 3-Years 5-Years 10-Years OPEB 6.42% 8.14% -8.14% 3.01% 3.52% 5.63% 6/21/2010
PENSION 6.42% 8.14% -8.13% 4.23% - - 3/26/2019
Information as provided by US Bank, Trustee for PARS; Not FDIC Insured; No Bank Guarantee; May Lose Value Headquarters - 4350 Von Karman Ave., Suite 100, Newport Beach, CA 92660 800.540.6369 Fax 949.250.1250 www.pars.org Account balances are inclusive of Trust Administration, Trustee and Investment Management fees Annualized Return
Investment Return: Annualized rate of return is the return on an investment over a period other than one year multiplied or divided to give a comparable one-year return.

Past performance does not guarantee future results. Performance returns may not reflect the deduction of applicable fees, which could reduce returns. Information is deemed reliable but may be subject to change.

Individual account based on US Bank Balanced MM. Dual goals are to provide a moderate amount of current income with moderate capital growth.

Income production and longer term growth of capital.

Account Report for the Period
Balance as of
City of Cupertino - OPEB
Balance as of
Individual account based on US Bank Balanced MM. Dual goals are to provide a moderate amount of current income with moderate capital growth.

Income production and longer term growth of capital.

City of Cupertino - PEN
Plan's Inception Date
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2/6/23, 7:24 AM LAIF Regular Monthly Statement
https://laifms.treasurer.ca.gov/RegularStatement.aspx 1/1 Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
February 06, 2023
LAIF Home
PMIA Average Monthly
Yields

CITY OF CUPERTINO

FINANCE MANAGER
10300 TORRE AVENUE
CUPERTINO, CA 95014
Account Number:

January 2023 Statement
Tran Type Definitions
Effective
Date
Transaction
Date
Tran
Type Confirm
Number
Web
Confirm
Number Authorized Caller Amount
1/13/2023 1/12/2023 QRD 1722471 N/A SYSTEM 110,596.45
Account Summary
Total Deposit: 110,596.45 Beginning Balance: 21,170,972.93 Total Withdrawal: 0.00 Ending Balance: 21,281,569.38
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CITY OF CUPERTINO
Agenda Item
23-12096 Agenda Date: 3/7/2023
Agenda #: 15.

Subject: Response to Councilmember questions regarding Cupertino Chamber of Commerce Receive informational memorandum responding to questions regarding Cupertino Chamber of Commerce CITY OF CUPERTINO Page 1 of 1 Printed on 2/28/2023
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CITY COUNCIL INFORMATIONAL MEMORANDUM
Date: March 7, 2023
To: Cupertino City Council
From: Pamela Wu, City Manager
Re: Response to Council Inquiries
Background: On June 21, 2022, Councilmembers Chao and Moore moved to provide the following direction to staff:

Bring back a future agenda item for a study session to review past partnership and support for Cupertino Chamber of Commerce and discuss options of future partnership with the Chamber.

Staff is working on drafting an agreement with the Chamber of Commerce. Responses to the remaining items numbered 1 ‐ 10 are included in this memorandum.

Including information:

1. Information on other cities and their relationship with Chamber In 2022, staff conducted research on 10 cities in the County and their relationship with the local Chamber of Commerce. All cities surveyed have partnerships with their Chambers. Only 4 out of the 10 cities surveyed had a formal agreement in place. Some cities have one‐time agreements with their Chamber for specific projects. Funds provided to the Chambers in various cities have ranged from $295 to $1,461,601 annually.

The following table shows the details on the partnership other cities in Santa Clara County currently have in place with their Chambers.
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City Chamber
Partnership
(Yes/No)
Payment
Amount to
Chamber
(annually)
Type of
Agreement
Additional Details
Campbell Yes $295
membership fee
No formal
agreement
Annual membership
Gilroy Yes $200,000 Formal agreement
in place until FY
19‐20
Collaborated on the Welcome
Center. City paid the Chamber
$200,000 annually for the
Economic Development
Corporation function until FY 19‐

20. Gilroy Yes $15,000‐$20,000 No formal
agreement
The Chamber facilitated business
grants for the City and were paid
15% of each approved
application.

Los Gatos Yes $60,000   Formal agreement Chamber operates the Visitor Center as well as Leadership Los
Gatos
Milpitas Yes $1,000
membership fee
No formal
agreement
Chamber partners on economic
development projects. Chamber
representative serves on the
Economic Development Trade
Commission
Morgan
Hill
Yes $550
membership fee
No formal
agreement
Annual membership plus
support for events and initiatives
Mountain
View
Yes $10,000 (for Tech
Showcase event)
Lease agreement   Chamber leases City‐owned
building for nominal rent. Visitor
Center is also operated by the
Chamber, City covers the rent
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City Chamber
Partnership
(Yes/No)
Payment
Amount to
Chamber
(annually)
Type of
Agreement
Additional Details
San Jose
(these are
one‐time
agreements,
unless
stated
otherwise)
Yes $95,000 in 2009 Formal agreement
with the Hispanic
Chamber of
Commerce in 2009
Chamber to help low to
moderate income entrepreneurs
in the City through
programming and integration of
newly formed businesses with
Business Owner Place online
platform
$50,000 in 2014 Formal agreement
to San Jose Silicon
Valley Chamber of
Commerce in 2014
Chamber to develop a Business
Development Strategy to
support job growth, business
retention, expansion, attraction,
and promote City’s positive
attributes
$76,000 in 2017 Formal
agreements with
the Hispanic
Chamber ($40,000)
and Black
Chamber (36,000)
in 2017.

Ethnic Chambers to provide
technical assistance to small and
ethnic businesses. City is
currently negotiating a new
agreement with the Hispanic
Chamber for FY 22‐23
$50,000 in 2018 Formal agreement
with San Jose
Silicon Valley
Chamber in 2018
Chamber to provide services to
enhance the environment for
small business community,
branding the City, workforce
readiness of residents and meet
with visiting international
business delegations
$100,000 in 2020 Formal agreement
with Black
Chamber of
Commerce
($35,000) and
Hispanic Chamber
of Commerce
($65,000) in 2020
Chamber to raise consciousness
to buy local and focus on
supporting local businesses
impacted by COVID‐19 and
facilitating small businesses
reopening
Santa Clara Yes $1,461,601   Formal agreement
(one‐time) with
Chamber in 2017
Chamber to provide Convention
and Visitors Bureau Services
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City Chamber
Partnership
(Yes/No)
Payment
Amount to
Chamber
(annually)
Type of
Agreement
Additional Details
Saratoga Yes $17,137
membership fee
in 2022
Formal agreement Chamber to provide services for
walk‐in, telephone, email, or fax
requests on tourism &
information materials, city
information & materials,
quarterly report
Sunnyvale Yes $1,000
membership fee
No formal
agreement
Annual membership

2. What other payments are made to contracts which do not have any written agreements? The chamber is the only contract we are aware of that had a verbal agreement.

3. What other payments are made for evergreen contracts, which will continue without any Council approval?
The City’s contract management system (Cobblestone) shows that there are no evergreen contracts.

The City has drafted a new Purchasing Policy, which is being reviewed by staff and the City’s internal auditors for conformance with industry best practices and which will establish procedures for recurring procurement of goods and services from the same vendor. This review will include evergreen contracts. Once staff has completed their review, this policy will be brought to City Council.

4. What process is there to confirm an invoice contains enough information to justify the amount of the invoice?
The City has a multi‐step process for invoice entry and approval.  Department staff are responsible for reviewing the invoice and determining if there is sufficient information to pay. The same staff person enters the invoice and documentation into the City’s financial system and routes it for approval. The invoice is then sent to a Supervisor or Analyst for invoice review and payment approval. This approval includes a review of the invoice for sufficient information for payment.

Once approved the invoice is routed via the City’s financial system for Finance’s review.  This review ensures an invoice is attached, the amount on the invoice and amount entered match and the selected account being billed to is reasonable.
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5. Whether Chamber qualifies for nonprofit fees for facility rental The Cupertino Chamber of Commerce is registered as a nonprofit and has received the nonprofit rental rate for booking City facilities. The Chamber provides the City the IRS 501 c Determination letter per City’s Fee Schedule requirements.

6. What communication methods do we have with all businesses who have Cupertino business licenses?
There are several methods of communication in place for all business license holders in Cupertino including annual renewal notices, email, Business Connect newsletter, Cupertino Scene, and Minimum Wage Mailers.

7. How do we support ALL Cupertino businesses?
The Economic Development Division aims to connect with and support all new, existing, and even prospective businesses in the City. The Division works closely with various City departments including CDD, Administrative Services, IT, and Public Works, as well as external partners such as the SBDC, Chamber, and SVEDA to help understand the needs of our local businesses and share resources with them. In addition to these efforts, Economic Development staff has recently launched several initiatives to provide support to and connect with all businesses in Cupertino including the Cupertino Business Outreach Program, Business Connect Newsletter, and local economy survey, with more programs currently in the pipeline.

8. Liability insurance certificate from Chamber or waiver signed by staff? Liability insurance is not required for groups renting facilities unless alcohol is being served.

Organizations running festivals are required to provide liability insurance, and staff receives this insurance from the Chamber of Commerce.

9. I Love Cupertino contract and subscription and itemized expenses In 2022, City Council had directed staff to provide a report on payments made by the City to the Chamber for I Love Cupertino Program. In 2018, per Council’s direction at the time to develop the program, the City partnered with the Chamber to launch the I Love Cupertino program.

The amounts paid by the City for I Love Cupertino program are shown in the table below. These costs include design and development of the platform and concept implementation during program launch, as well ongoing cost for database subscription, website hosting and website maintenance. There have not been any invoices submitted or payments made for the program since July 1, 2021.
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Fiscal Year Cost
FY 17‐18 $30,215
Logo concept and design
Program implementation
Data subscription
Website concept, design, layout and deployment
Domains
Social media content
FY 18‐19 $25,175
Data subscription
Website hosting
Website Maintenance
FY 19‐20 $5,556
‐     Member management subscription for business directory (Membee) FY 20‐21 $4,224
‐     Member management subscription for business directory (Membee) FY 21‐22 $0
FY 22‐23 $0
Total $65,170

10. Why IT Department did not help build the website
IT was not involved in this project. When this program was created, IT was working on multiple critical projects and would not be able to deliver to meet desired timeline. Therefore, staff did not ask IT to work on this project. Instead, staff partnered with the Chamber of Commerce to design and host the program.

Next Steps: Although the future agenda item added by Councilmember Moore and Councilmember Chao at the June 21 council meeting calls for a study session in order to get answers to the questions in this report, staff has addressed all the questions in detail via this informational memo.  If Council wishes to discuss this further, this can be added as a future agenda item by Council.

Sustainability Impact: No sustainability impact.

Fiscal Impact:  No fiscal impact.
_____________________________________
Prepared by: Tina Kapoor, Economic Development Manager
Reviewed by: Matt Morley, Assistant City Manager
Chris Jensen, City Attorney
Approved for Submission by:  Pamela Wu, City Manager
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