Agenda packet — Half Moon Bay City Council, June 7, 2022 (part 2 of 2)

Sewer Improvements include ongoing repair and replacement of the City’s sewer infrastructure as components reach the end of their service life. Infrastructure includes neighborhood sewer pipelines, larger interceptor pipelines and pump stations. Preventative maintenance and repair lead to fewer component failures and help to minimize unforeseen system outages and pipe breaks that could lead to sanitary sewer overflows.

Street Improvements focus on performing routine maintenance and improvements to the City’s roadways to extend the useful life of the system. This reduces the need for major street reconstruction projects, which are exponentially more expensive than performing routine upgrades and maintenance.

Trail Improvements assure safety and functionality of the City’s trails. Improvements in this section address erosion issues along the Coastal Trail in addition to improving the quality of trails throughout the City.

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CIP 5-Year
Expenditures
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CITY OF HALF MOON BAY
Other Information
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Other Information
Investment Policy xxx
Reserve Policy xxx
Master Fee Schedule xxx
Supplemental Statistical Section xxx
Budget Glossary xxx
Acronym Glossary xxx
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CITY OF HALF MOON BAY
Investment Policy
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CITY OF HALF MOON BAY INVESTMENT POLICY

POLICY OVERVIEW

PURPOSE
The purpose of this policy is to establish guidelines for the management and investment of the unexpended funds of City of Half Moon Bay (the City) under authority granted by the City Council. This policy is in compliance with the provisions of California Government Code Sections 53600 through 53684, governing investments for municipal governments.

INVESTMENT OBJECTIVES
The primary objectives of this investment policy, in order of priority, are safety, liquidity, and yield:

1. Safety - Safety of principal is the foremost objective of the investment program.

Investments shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. This objective shall be accomplished by mitigating credit risk and market risk.

2. Liquidity - The investment portfolio shall remain sufficiently liquid to meet all operating requirements that may be reasonably anticipated. This objective shall be accomplished by structuring the portfolio so that securities mature concurrently with anticipated needs. The portfolio shall consist largely of securities with active secondary or resale market. Furthermore, a portion of the portfolio may be placed in money market mutual funds or the Local Agency Investment Fund (LAIF) which offer same-day liquidity for short-term funds.

3. Yield - The objective of the investment portfolio is designed to attain a market rate of return throughout budgetary and economic cycles, taking into consideration the investment risk constraints and liquidity needs. Investment performance shall be continually monitored and evaluated by the City Treasurer in comparison with other portfolio benchmark yields.

SCOPE
The investment policy applies to all financial assets of the City as accounted for in the Basic Financial Statements. It includes, but is not limited to, the funds listed below:
 General Fund
 Special Revenue Funds
 Capital Projects Funds
 Debt Service Fund
 Enterprise Funds
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 Internal Service Funds
 Trust and Agency Funds
 Any new fund created by the City, unless specifically exempted, with the exception of the following:

1. The City's Deferred Compensation Plan, which is excluded because it is managed by a third-party administrator and invested by individual plan participants.

2. Proceeds of debt issuance shall be invested in accordance with the investment objectives of this policy. However, such proceeds are generally invested in accordance with permitted investment provisions of their specific bond indentures.

If, in the opinion of the City Treasurer, the matching of bond reserve or escrow defeasance funds with the maturity schedule of an individual bond issue is prudent, the investment policy authorizes an extension beyond the five-year maturity limitation as outlined in this document.

USE OF STATE INVESTMENT GUIDELINES
California Government Code Sections 53600 through 53692 regulates the investment practices of public entities. It is the policy of the City to use the State's provisions for local government investments as the basis for developing and implementing the City's investment policies and practices.

STANDARDS OF CARE

1. Prudence - The City's investment officials shall act as fiduciary agents subject to the Prudent Investor Standard. Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived. The City Manager, City Treasurer (Finance Manager), and other individuals assigned to manage the investment portfolio, acting within the intent and scope of the investment policy and other written procedures and exercising due diligence, shall be relieved of personal responsibility and liability for an individual security's credit risk or market price changes, provided deviations from expectations are reported in a timely manner and appropriate action is taken to control adverse developments.

2. Ethics and Conflict of Interest - Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program or could impair their ability to make impartial investment decisions. City employees involved in the investment process shall Draft
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disclose to the City Clerk in writing any material financial interest in financial institutions that conduct business within the jurisdiction. They shall further disclose any large personal financial/investment positions that could be related to the performance of the investment portfolio.

3. Delegation of Authority - Authority to manage the investment program is granted to the City Manager and City Treasurer (designee Administrative Services Director) and derived from Chapter 2.12 and 2.16 of the City of Half Moon Bay Municipal Code. Under the oversight of the City Manager and the City Treasurer, specified responsibility for the operation of the investment program may be delegated to the Senior Accounting Technician, who shall act in accordance with established written procedures and internal controls consistent with the investment policy.

The City Treasurer shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinate staff members. The internal controls system includes separation of duties, custodial safekeeping, avoidance of physical delivery securities, development of wire transfer agreement, and clear delegation of authority to subordinate staff members.

The City may delegate its investment authority to an investment advisor registered under the Investment Advisers Act of 1940, so long as it can be demonstrated that these services produce a net financial advantage or necessary financial protection of the City's financial resources. The adviser shall follow this policy, and any other written instructions.

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INVESTMENT GUIDELINES

SAFETY OF PRINCIPAL
Safety of principal is the primary objective of the City of Half Moon Bay. Each investment transaction shall seek to ensure that capital losses are avoided, whether from securities default, broker/dealer default or erosion of market value. The City shall seek to preserve principal by mitigating the two types of risk: credit risk and market risk.

Credit risk, defined as the risk of loss due to failure of the issuer of a security, shall be mitigated by investing in investment grade securities and by diversifying the investment portfolio so that the failure of any one issuer does not unduly harm the City's capital base and cash flow.

Market risk, defined as market value fluctuations due to overall changes in the general level of interest rates, shall be mitigated by limiting the average maturity of the City's investment portfolio to two years, the maximum maturity of any one security to five years, structuring the portfolio based on historic and current cash flow analysis eliminating the need to sell securities prior to maturity and avoiding the purchase of long term securities for the sole purpose of short term speculation.

LIQUIDITY
The City's financial portfolio shall be structured in a manner to ensure that the securities mature concurrent with anticipated cash demands. The portfolio should consist largely of securities with an active secondary or resale market to meet any unanticipated cash demands.

A portion of the portfolio may be placed in money market mutual funds or LAIF, which offer same day liquidity for short term funds.

It is the full intent of the City to hold all investments until maturity to ensure the return of all invested principal. However, securities may be sold prior to maturity under the following circumstances:
• To minimize loss of principal for a security with declining credit. • When liquidity needs of the portfolio require that the security is sold.

INVESTMENT PARAMETERS

1. Diversification - The City shall diversify its investments within the parameters of this policy to avoid incurring unreasonable risks inherent in over-investing in specific instruments, individual financial institutions or maturities. Nevertheless, the asset allocation in the investment portfolio should be flexible depending upon the outlook for the economy, the securities markets, and the City's anticipated cash flow needs.

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The investments shall be diversified by:
 Limiting investments in securities to avoid over concentration in securities from a specific issuer or business sector (excluding U.S. Treasury securities);  Limiting investment in securities that have higher credit risks;  Investing in securities with varying maturities; and
 Continuously investing a portion of the portfolio in readily available funds such as LAIF or money market mutual funds to ensure that appropriate liquidity is maintained in order to meet unanticipated cash demands.

2. Maximum Maturities- To the extent possible, the City shall attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow of bond proceeds or bond defeasance escrow, the City will not directly invest in securities maturing more than five (5) years from the date of purchase. As a general rule, the weighted average maturity of the investment portfolio will not exceed two years.

Reserve or escrow funds established by the issuance or defeasance of bonds and other funds with longer-term investment horizons may be invested in securities exceeding five years if the maturities of such investments are made to coincide with the expected use of funds. The intent to invest in securities with longer maturities shall be disclosed in writing to the City Council.

3. Competitive Bidding - It is the policy of the City to encourage competitive bidding for investment transactions that are not classified as "new issue" securities. For the purchase of non "new issue" securities and the sale of all securities at least three bidders must be contacted. However, it is understood that certain time constraints and broker portfolio limitations exist which will not accommodate the competitive bidding process.

If a time or portfolio constraining condition exists, the pricing of the investment should be verified to current market conditions and documented for auditing purposes.

PERFORMANCE EVALUATION AND BENCHMARK
Investment performance is continually monitored and evaluated by the City Treasurer. The investment portfolio benchmark yield shall be the average yield on the U.S. Treasury security that most closely corresponds to the portfolio’s weighted average final maturity.

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PROTECTION OF SECURITIES
To protect against fraud, embezzlement, or losses caused by the collapse of an individual securities dealer:
 All securities owned by the City shall be held in safekeeping by a third-party bank trust department, acting as agent for the City under the terms of a custody agreement or master repurchase agreement. All trades executed by a dealer will settle delivery vs. payment (DVP) through the City's safekeeping agent.
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 All securities owned by the City shall be insured by a third-party insurer and the City shall be named as insured on that policy.

Securities held in custody for the City shall be independently audited on an annual basis to verify investment holdings.

INTERNAL CONTROL
The City Treasurer is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the City are protected from loss, theft or misuse. The internal control structure shall be designed to provide reasonable assurance that these objectives are met. The concept of reasonable assurance recognizes that the cost of a control should not exceed the benefits to be derived and that the valuation of costs and benefits requires estimates and judgments by management.

If the City's investment portfolio includes more than pooled investments, an external auditor shall conduct an annual independent review to assure compliance with policies and procedures.

The internal controls shall address the following points:
 Control of collusion
 Separation of transaction authority from accounting and record keeping
 Custodial safekeeping
 Avoidance of physical delivery securities
 Clear delegation of authority to subordinate staff members  Written confirmation of transactions for investments and wire transfers  Development of a wire transfer agreement with the lead bank and third-party custodian
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INVESTMENT REPORTS
The City Treasurer shall review investments and render quarterly reports to the City Manager and City Council. These reports shall include:
 The par amount of the investment, the classification of the investment, the percentage of the total portfolio which each type of investment represents, the name of the institution or entity, the rate of interest, the maturity date, the current market value, and the source of the market value.
 A statement that the projected cash flow is adequate to meet expected obligations over the next six months.
 The weighted average maturity of the portfolio.
 The average weighted yield to maturity of the portfolio as compared to the applicable benchmark.
 Statement of compliance with the investment policy.

This report is due within 30 days of the end of the quarter. The City Manager may, at his/her discretion, require this report on a monthly basis based upon market conditions.

QUALIFIED BANKS AND BROKER/DEALERS
The City shall transact business with financial institutions that qualify as a depository of public funds in the State of California as defined in California Government Code Section 53630.5. The institution shall be a member of the FDIC and shall secure all deposits exceeding FDIC insurance coverage in accordance with California Government Code Section 53652.

All broker/dealers who desire to do business with the City shall provide the necessary information (e.g. audited financial statements, proof of state registration, proof of National Association of Securities Dealers certification, etc.) from which the City can determine their creditworthiness, the existence of any pending legal action against the firm or the individual broker as well as an understanding of the security markets that they service. To be eligible, a firm must be licensed by the State of California as a broker/dealer as defined in Section 25004 of the California Corporations Code.

The City Treasurer shall annually send a copy of the current investment policy to all financial institutions and broker/dealers approved to do business with the City. Confirmation of receipt of this policy shall be considered evidence that the dealer understands the City's investment policies and intends to sell the City only appropriate investments authorized by this investment policy.

COLLATERAL REQUIREMENTS
Collateral is required for investments in non-negotiable certificates of deposit and repurchase agreements. In order to reduce market risk, the collateral level shall be at least 102% of market Draft
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value of principal and accrued interest and marked to market weekly. Securities that are acceptable as collateral shall be the direct obligations of the United States or any agency of the United States or shall be fully guaranteed as to principal and interest by the United States or any agency of the United States.

AUTHORIZED INVESTMENTS
Investment of City funds is governed by the California Government Code Sections 53600 etc. seq. Within the context of the limitations, the following investments are authorized, as further limited herein:

1. United States Treasury Bills, Bonds, and Notes or those for which the full faith and credit of the United States are pledged for payment of principal and interest. There is no percentage limitation of the portfolio, which can be invested in this category, although a five-year maturity limitation is applicable.

2. Government Sponsored Enterprises - Obligations issued by Federal Government agencies such as the Government National Mortgage Association (GNMA), the Federal Farm Credit Bank (FFCB), the Federal Home Loan Bank (FHLB), the Federal National Mortgage Association (FNMA), the Student Loan Marketing Association (SLMA), and the Federal Home Loan Mortgage Corporation (FHLMC). There is no percentage limitation of the portfolio, which can be invested in this category, although a five-year maturity limitation is applicable.

3. Banker's Acceptances - Bills of exchange or time drafts drawn on and accepted by commercial banks, otherwise known as banker's acceptances, may not exceed 180 days maturity or 20% of the cost value of the portfolio. Furthermore, no more than 5% of the cost value of the portfolio may be invested in the banker's acceptances of any one commercial bank.

4. Commercial Paper - Commercial paper is a short-term, unsecured promissory note issued by financial and non-financial companies to raise short term cash. Up to 15% or the City's portfolio may be invested in "prime" commercial paper of the highest ranking or of the highest letter and number rating as provided by a nationally recognized statistical rating organization (Moody's or Standard and Poor's) and with maturities not to exceed 180 days. The issuer must have total assets in excess of $500 million, and have debt other than Commercial paper rated "A" or higher by two nationally recognized statistical rating organizations. The City may not hold more than 2% of a single issuer's outstanding paper.

5. Negotiable Certificates of Deposit -- Purchases of negotiable certificates of deposit issued by nationally or state-chartered banks, state or federal savings institutions, or state-licensed branches of foreign banks may not exceed 30% of the cost value of the Draft
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portfolio. The City may not invest in an institution where a member of City Council, City management, or City Treasurer serves on the board or committee of the institution.

Funds will only be invested in Certificates of Deposits that are fully insured by the Federal Deposit Insurance Corporation (FDIC) or the Federal Savings and Loan Insurance Corporation (FSLIC) in amounts up to $100,000. A maturity limitation of two years is applicable.

6. Repurchase Agreements - Repurchase agreements may be made on any investment authorized by this investment policy. The maturity of the repurchase agreements shall not exceed one year. The market value of the securities used as collateral for the repurchase agreements shall be monitored by the investment staff weekly and shall not be allowed to fall below 102% of the value of the repurchase agreement. A Master Repurchase agreement is required between the City and the dealer for all repurchase agreements transacted. No more than 5% of the City's investment portfolio may be invested with any one counter party, and the aggregate investment in repurchase agreements shall not exceed 10% of the City's total portfolio.

7. Local Agency Investment Fund (LAIF) - a State of California managed investment pool may be used up to the maximum permitted by California State Law.

8. San Mateo County Investment Pool - a County of San Mateo managed investment pool may be used up to the maximum of 100% of the cost value of the portfolio.

9. Time Certificates of Deposit - Time certificates of deposit, non negotiable and collateralized in accordance with the California Government Code, may be purchased through banks or savings and loan associations. Since time deposits are not liquid, no more than 10% of the investment portfolio may be invested in this investment type. A maturity limitation of two years is applicable.

10. Medium Term Corporate Notes – defined as corporate and depository institution debt securities, with a maximum maturity of five years, may be purchased. Securities eligible for investment shall be rated AA or better by a nationally recognized securities rating organization (Moody's or Standard & Poor's). Purchase of medium-term notes may not exceed 10% of the cost value of the portfolio and no more than 10% of the cost value of the portfolio may be invested in notes issued by one corporation. Commercial paper holdings should also be included when calculating the 10% limitation

11. Money Market Mutual Funds - Mutual funds invested in U.S. Government securities are permitted under this policy and under California Government Code Section 53601(L). All of the following criteria must also be met: (1) The fund shall have a minimum of $500 million in total portfolio value; (2) The fund shall be registered with the Securities and Exchange Commission, and shall have achieved the highest ranking or the highest letter Draft
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and numerical rating provided by not less than two nationally recognized statistical rating organizations; (3) The fund shall have retained an advisor which is registered with the SEC, or which is exempt from such registration; Investment in such funds shall not exceed 20% of the City's total portfolio; and no more than 5% of the City's total portfolio may be invested in any one mutual fund.

12. Moneys Held By a Trustee or Fiscal Agent - Moneys held by a trustee or fiscal agent and pledged the to the payment or security of bonds or other indebtedness obligation under a lease, installment sales or other agreement may be invested in accordance with the statutory provisions governing the issuance or defeasance of the bonds or obligation.

13. Prohibited/Ineligible Investments - Ineligible investments are those that are not described herein, including but not limited to, common stocks, reverse repurchase agreements, inverse floaters, range notes, mortgage derived interest only strips, derivatives securities, or any security that could result in zero interest accrual. (Sec. 53601.6)
Maximum Investment Maturity and Percentage - The following matrix of maximum maturity and percentage limits, by instrument, are established for the City's total pooled funds portfolio:

Investment Type Maturity Percentage
Repurchase Agreements 1 Year 0 to 100%
Local Agency Investment Fund Upon Demand 0 to 100%
San Mateo County Investment Pool Upon Demand 0 to 100%
U.S. Treasury Bonds/Notes/Bills 5 Years 0 to 100%
Government Sponsored Enterprises 5 Years 0 to 100%
Bankers' Acceptances 180 Days 0 to 20%
Commercial Paper 180 Days 0 to 15%
Negotiable Certificates of Deposit 2 Years 0 to 30%
Time Certificates of Deposit 2 Years 0 to 10%
Medium Term Corporate Notes 5 Years 0 to 20%
Mutual Funds/Money Market Funds Upon Demand 0 to 20%

LEGISLATIVE CHANGES
Any State of California legislative action that further restricts allowable maturities, investment types, or percentage allocations, supersedes any and all previous applicable language in this Investment Policy.

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INTEREST EARNINGS
All moneys earned and collected from investments authorized in this policy shall be allocated quarterly to various fund accounts based on the (average 13 months) cash balance in each fund as a percentage of the entire pooled portfolio.

POLICY CONSIDERATIONS
The following policy considerations apply:

1. Exemption - Any investment currently held that does not meet the guidelines of this policy shall be exempted from the requirements of this policy. At maturity or liquidation, such monies shall be reinvested only as provided by this policy.

2. Amendments - The City's investment policy shall be adopted by resolution of the City Council on an annual basis. This investment policy shall be reviewed at least annually to ensure its consistency with the overall objectives of preservation of principal, liquidity and yield, and its relevance to current law and financial and economic trends.

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RESOLUTION No. C-2022-

A RESOLUTION OF THE CITY OF HALF MOON BAY APPROVING THE

CITY OF HALF MOON BAY INVESTMENT POLICY
WHEREAS, the investment policy is reviewed each year by City Council in accordance with the City of Half Moon Bay's Investment Policy;
WHEREAS, the investment policy has been reviewed to ensure any necessary updates have been incorporated;
WHEREAS, there is no change in the investment policy at this time.

NOW, THEREFORE, BE IT RESOLVED THAT
The City Council of the City of Half Moon Bay hereby approves the City of Half Moon Bay's Investment Policy as contained in Exhibit A attached hereto. ***************************************************************** I, the undersigned, hereby certify that the forgoing Resolution was duly passed and adopted on the 21st day of June, 2022 by the City Council of Half Moon Bay by the following vote:

AYES, Councilmembers:

NOES, Councilmembers:

ABSENT, Councilmembers:

ABSTAIN, Councilmembers:

ATTEST: APPROVED:

Jessica Blair, City Clerk Debbie Ruddock, Mayor
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INVESTMENT POLICY

GLOSSARY OF TERMS
Accrued Interest - Interest earned but not yet received.

Active Deposits - Funds which are immediately required for disbursement.

Amortization - An accounting practice of gradually decreasing (increasing) an asset's book value by spreading its depreciation (accretion) over a period of time.

Arbitrage - Transactions by which securities are bought and sold in different markets at the same time for the sake of the profit arising from a yield difference in the two markets.

Asked Price - The price a broker dealer offers to sell securities.

Banker's Acceptance - A high quality, short-term money market instrument used to finance international trade. There has never been an instance of a failure to pay a banker's acceptance in full at its maturity date.

Basis Point - One basis point is one hundredth of one percent (.01).

Bid Price - The price a broker dealer offers to purchase securities.

Bond - A financial obligation for which the issuer promises to pay the bondholder a specified stream of future cash flows, including periodic interest payments and a principal repayment.

Book Value - The value at which a debt security is shown on the holder's balance sheet. Book value is acquisition cost less amortization of premium or accretion of discount.

Broker - Someone who brings buyers and sellers together and is compensated for his/her service.

Certificate of Deposit - A deposit insured up to $100,000 by the FDIC at a set rate for a specified period of time.

Collateral - Securities, evidence of deposit or pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposit of public moneys.

Commercial Paper - Short-term, negotiable unsecured promissory notes of corporations.

Basic Financial Statements - The official annual financial report for the City in accordance with the GASB 34 format prepared in conformity with Generally Accepted Accounting Principles (GAAP).

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Coupon - The annual rate of interest that a bond's issuer promises to pay the bondholder on the bond's face value.

Credit Analysis - A critical review and appraisal of the economic and financial conditions or of the ability to meet debt obligations.

Current Yield - The interest paid on an investment expressed as a percentage of the current price of the security.

Custodian - A bank or other financial institution that keeps custody of stock certificates and other assets.

Defeased Bond Issues - Issues that have sufficient money to retire outstanding debt when due so that the agency is released from the contracts and covenants in the bond document.

Delivery vs. Payment (DVP) - Delivery of securities with a simultaneous exchange of money for the securities.

Derivative - Securities that are based on, or derived from, some underlying asset, reference date, or index.

Discount - The difference between the cost of a security and its value at maturity when quoted at lower than face value.

Diversification - Dividing investment funds among a variety of securities offering independent returns and risk profiles.

Duration - A measure of the timing of the cash flows, such as the interest payments and the principal repayment, to be received from a given fixed-income security. This calculation is based on three variables: term to maturity, coupon rate, and yield to maturity. The duration of a security is a useful indicator of its price volatility for given changes in interest rates.

Fannie Mae - Trade name for the Federal National Mortgage Association (FNMA), a U.S. sponsored corporation.

Federal Reserve System - The central bank of the U.S. which consists of a seven-member Board of Governors, 12 regional banks and 5,700 commercial banks that are members.

Federal Deposit Insurance Corporation (FDIC) - Insurance provided to customers of a subscribing bank, which guarantees deposits to a set limit (currently $100,000) per account.

Fed Wire - A wire transmission service established by the Federal Reserve Bank to facilitate the transfer of funds through debits and credits of funds between participants within the Fed system.

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Freddie Mac - Trade name for the Federal Home Loan Mortgage Corporation (FHLMC), a U.S. sponsored corporation.

Ginnie Mae - Trade name for the Government National Mortgage Association (GNMA), a direct obligation bearing the full faith and credit of the U.S. Government.

Government Accounting Standards Board (GASB) - A standard-setting body, associated with the Financial Accounting Foundation, which prescribes standard accounting practices for governmental units.

Guaranteed Investment Contracts (GICS) - An agreement acknowledging receipt of funds, for deposit, specifying terms for withdrawal, and guaranteeing a rate of interest to be paid.

Inactive Deposits - Funds not immediately needed for disbursement.

Interest Rate - The annual yield earned on an investment, expressed as a percentage.

Investment Agreements - An agreement with a financial institution to borrow public funds subject to certain negotiated terms and conditions concerning collateral, liquidity and interest rates.

Liquidity - An asset that can easily and rapidly be converted into cash without significant loss of value.

Local Agency Investment Fund (LAIF) - A pooled investment vehicle for local agencies in California sponsored by the State of California and administered by the State Treasurer.

Local Agency Investment Pool - A pooled investment vehicle, sponsored by a local agency or a group of local agencies for use by other local agencies.

Market Value - The price at which a security is trading and could presumably be purchased or sold.

Maturity - The date upon which the principal or stated value of an investment becomes due and payable.

Modified Duration - A measure of exposure to market risk of a security or a portfolio. It is the percent change in the price of a security (portfolio) or a 100 basis point change in the security's (portfolio's) yield.

Mutual Funds - An investment company that pools money and can invest in a variety of securities, including fixed-income securities and money market instruments.

Negotiable Certificate of Deposit - A large denomination certificate of deposit which can be sold in the open market prior to maturity.

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New Issue - Term used when a security is originally "brought" to market.

Note - A written promise to pay a specified amount to a certain entity on demand or on a specified date.

Par Value - The amount of principal that must be paid at maturity. Also referred to as the face amount of a bond, normally quoted in $1,000 increments per bond.

Perfected Delivery - Refers to an investment where the actual security or collateral is held by an independent third-party representing the purchasing entity.

Portfolio - Combined holding of more than one stock, bond, commodity, real estate investment, cash equivalent, or other asset. The purpose of a portfolio is to reduce risk by diversification.

Primary Dealer - A group of government securities dealers that submit daily reports of market activity and security positions held to the Federal Reserve Bank of New York and are subject to its informal oversight.

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

Prospectus - A legal document that must be provided to any prospective purchaser of a new securities offering registered with the SEC that typically includes information on the issuer, the issuer's business, the proposed use of proceeds, the experience of the issuer's management, and certain certified financial statements (also known as an "official statement")
Prudent Investor Standard - A standard of conduct, where a person acts with care, skill, prudence, and diligence when investing, reinvesting, purchasing, acquiring, exchanging, selling and managing funds. The test of whether the standard is being met is if a prudent person acting in a similar situation would engage in similar conduct to ensure that investments safeguard principal and maintain liquidity.

Purchase Date - The date in which a security is purchased for settlement on that or a later date.

Rate of Return - The yield obtainable on a security based on its purchase price or its current market price. This may be the amortized yield to maturity on a bond or the current income return.

Repurchase Agreement (REPO) - A transaction, where the seller agrees to buy back from the buyer (City) the securities at an agreed upon price on demand or at a specified date.

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Reverse Repurchase Agreement (REVERSE REPO) - A transaction where the seller (City) agrees to buy back from the buyer the securities at an agreed upon price on demand or at a specified date.

Risk - Degree of uncertainty of return on an asset.

Rule G-37 of the Securities Rulemaking Board - Federal regulations to sever any connection between the making of political contributions and the awarding of municipal securities business.

Safekeeping Service - Offers storage and protection of assets provided by an institution serving as an agent.

Sallie Mae - Trade name for the Student Loan Marketing Association (SLMA), a U.S. sponsored corporation.

Secondary Market - A market made for the purchase and sale of outstanding issues following the initial distribution.

Securities and Exchange Commission (SEC) - The federal agency responsible for supervising and regulating the securities industry.

Settlement Date - The date on which a trade is cleared by delivery of securities against funds.

Tax and Revenue Anticipation Notes (TRANS) - Notes issued in anticipation of receiving tax proceeds or other revenues at a future date.

Time Certificate of Deposit - A non-negotiable certificate of deposit that cannot be sold prior to maturity.

Treasury Bills (T-bills) - U.S. Treasury Bills which are short-term, direct obligations of the U.S.

Government issued with original maturities of 13 weeks, 26 weeks and 52 weeks; sold in minimum amounts of $10,000 in multiples of $5,000 above the minimum. Issued in book entry form only. T-bills are sold on a discount basis.

Trustee or trust company or trust department of a bank - A financial institution with trust powers which acts in a fiduciary capacity for the benefit of the bondholders in enforcing the terms of the bond contract.

Underwriter - A dealer that purchases a new issue of municipal securities for resale.

U.S. Government Agencies - Instruments issued by various U.S. Government Agencies, most of which are secured only by the credit worthiness of the particular agency.

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U.S. Treasury Obligations - Debt obligations of the United States Government sold by the Treasury Department in the forms of Bills, Notes, and Bonds. Bills are short-term obligations that mature in one year or less and are sold on the basis of a rate of discount. Notes are obligations that mature between one year and ten years. Bonds are long-term obligations that generally mature in ten years or more.

Weighted Average Maturity (WAM) - The average maturity, of all the securities that comprise a portfolio, which is typically expressed in days or years.

Yield - The rate of annual income return on an investment, expressed as a percentage. It is obtained by dividing the current dollar income by the current market price of the security.

Yield to Maturity - The rate of income return on an investment, minus any premium or plus any discount, with the adjustment spread over the period from the date of purchase to the date of maturity of the bond, expressed as a percentage.

Yield Curve - A graphic representation that shows the relationship at a given point in time between yields and maturity for bonds that are identical in every way except maturity.

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CITY OF HALF MOON BAY
Reserve Policy
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City of Half Moon Bay
General Fund & Economic Uncertainty Reserve Policy
Adoption Date: June 2, 2020
Last Revision Date: June 2, 2020
I. Introduction:

Prudent financial management dictates that a portion of the funds available to the City be held in reserve for future use whereas standard funding sources are not adequate for continued operation of general City operation. This policy establishes the amounts the City will strive to maintain in the General Fund Reserve & Economic Uncertainty Reserve, as well as the conditions under which the reserves may be spent.

The General Fund Reserve and Economic Uncertainty Reserve helps to ensure that the City of Half Moon Bay can provide consistent, uninterrupted municipal services in the event of economic disruption or an extreme event. Two of the City’s primary revenue sources, the transient occupancy tax and sales tax, are known to be sensitive to downturns in the economy. Like other California cities, Half Moon Bay must be prepared for seismic and other catastrophic events that could threaten its long-term fiscal health.

As a General Budget principle, the City Council is charged with determining an appropriate General Fund Reserve and Economic Uncertainty Reserve thresholds and to allocate or change those funding thresholds as appropriate. The funding levels are to be based on sound risk assessment methodology for setting reserve levels developed by the Government Finance Officers Association of the United States and Canada (GFOAO). The General Fund Reserve and Economic Uncertainty Reserve follows Generally Accepted Accounting Principles set by the Government Accounting Standards Board (GASB) in Statement No. 54.

II. Amounts Held in Reserve
The City of Half Moon Bay will strive to maintain the following threshold funding as “assigned” General Fund balance. The reserve balances are conveyed as a percentage of the City’s general fund annual operating expenditures. As a percentage of the annual operating expenditures, the actual assigned fund balances will fluctuate. The reserves are broken into two categories, each with their associated target threshold of reserve:

General Fund Reserve (30% of General Fund operating expenditures):
• The City will fund the General Fund Reserve at a minimum of 30% of the budgeted Annual General Fund Expenditures with no maximum. Funds held in this assigned reserve are held for the following uses:
o Meeting cash flow needs during the fiscal year.
o Closing a projected short-term revenue-expenditure gap. o Responding to unexpected expenditure requirements or revenue shortfalls.

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City of Half Moon Bay
General Fund & Economic Uncertainty Reserve Policy
o When an economic downturn results in a short-term budgetary shortfall and where reasonable cuts to expenditures are not adequate to meet revenue without the use of the reserve.
o Unfunded liabilities such as self-insurance, pensions and retiree health obligations o Institutional changes, such as State budget takeaways and unfunded mandates Economic Uncertainty Reserve (20% of General Fund operating expenditures):
• The City will fund the Economic Uncertainty Reserve at a minimum of 20% of the budgeted Annual General Fund Operating Expenditures with no maximum. Funds held in this assigned reserve are held for the following uses:
o When a fiscal forecast shows an ongoing structural gap due to an economic downturn to providing a strategic bridge to future economic stability. o When during a declared emergency, expenditures exceed revenues and where the reserve will meet economic shortfalls due to a related economic downturn. o When an economic downturn results in a long-term budgetary shortfall and where reasonable cuts to expenditures are not adequate to meet revenue without the use of the reserve.
o Where its use will prevent a reduction of required services.

III. Funding Target Balance
The General Fund Reserve and Economic Uncertainty Reserve will be funded from excess ongoing and one-time funds when available. If reserve fund balances fall below established thresholds, the City will replenish reserves in the following priority:

1. General Fund Reserve

2. Economic Uncertainty Reserve
IV. Conditions for Use of Reserves
A. Use of Reserves
It is the intent of the City to limit use of reserves to address unanticipated, non-recurring needs or known, planned future obligations. Reserves shall not normally be applied to recurring annual operating expenditures. The reserves may, however, be used to allow time for the City to restructure its operations in a deliberate manner (such as might be required in the case of a severe economic downturn), but such use will only take place in the context of an adopted longterm plan to reach a sustainable structure.

B. Authority to Use Reserves
The reserves are only used in accordance with this policy and at the direction of the City Council.

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General Fund & Economic Uncertainty Reserve Policy
C. Funding in Excess of Threshold
Where funding of the General Fund Reserve and Economic Uncertainty Reserve exceeds the established thresholds, City Council may authorize the use of those funds for any budgetary need.

D. Authority for Interfund Borrowing
The City Manager may authorize inter-fund borrowing in the event that resources are needed by the General Fund to recover from damages incurred in a catastrophic event. Borrowed funds can be provided from any other funds that are not fiscally compromised by the event and are legally available for use. Borrowed funds will be reimbursed at a rate determined by the City’s overall portfolio yield.

E. Replenishment of Reserves
In the event the City Council authorizes use of the reserves, the City Manager shall propose a plan for the replenishment of the reserves to the City Council during City budget hearings. The City will make every reasonable effort to fully replenish the reserves within five years.

If, based on the Finance Director’s analysis and forecasting, the target balance is not being met or is likely not going to be met at some point within a five-year period, a plan to meet the target balance will be developed and presented to the City Council for consideration.

V. Annual Review of Policy
The General Fund Reserve and Economic Uncertainty Reserve policy will be reviewed annually and discussed if changes are deemed necessary. The review of this policy is to safeguard its effectiveness and relevance to the City’s long-term needs, and to ensure that the policy remains current with best practices that are based on sound risk assessment methodology developed by the Government Finance Officers Association of the United States and Canada (GFOAO).

Attachments:
-NonePolicy Revision History:

Date Actions
June 2, 2020 Originally Issued
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CITY OF HALF MOON BAY
Master Fee Schedule
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Master Fee Schedule
The City’s Master Fee schedule includes Developer Impact Fees and User Fees which are permitted under State law and initially adopted by the City Council in 2017. The fee schedule is based upon a Cost Allocation Plan (CAP), that has been reviewed each subsequent fiscal year to confirm accuracy. In conjunction with the FY 2021-22 budget, the City reevaluated the allocation of resources as well as the appropriate allocation of costs to City functions and fees. The CAP ensures that the City is able to accurately account for the actual cost of providing programs and services by establishing fully-burdened hourly rates for staff, including direct, indirect and overhead costs; as well as for facilities. These rates are a foundation for all fees and ensure that recoverable fees for each service are complete, clearly defined and identified. The City evaluates the CAP each year and updates the CAP approximately every 5 years.

Development Impact Fees were adjusted for cost of living in in 2022 in accordance with the City Council policy following evaluation and determination that the fees remained compliant with statutory limits and addressed the cost of new development on certain facilities and infrastructure. In order to charge Development Impact Fees, jurisdictions must prepare nexus studies. A nexus study was prepared in 2017 and with each subsequent fiscal year, staff evaluates the fees to ensure the fees do not exceed the City’s actual cost to provide the services and infrastructure based on the CAP, Capital Improvement Program, and other cost factors.

User Fees include Administration and Development Impact Fees. Following the CAP, the City’s User Fees were comprehensively updated and adopted in 2017. User Fees include both flat fees and deposits. Flat fees are set to align with the anticipated and typical cost to provide a specified service based on the CAP fully-burdened hourly rates. Flat fees are appropriate for smaller-scale or more typical services. For more variable services, such as those associated with development review, a deposit approach provides the City with a means to charge an applicant for actual time spent to process an application and to more accurately track City consultant related direct costs.

On May 17, 2022, City Council approved a substantial update to fees and deposits following staffs’ evaluation of the structure established in 2017. These updates will take effect in Fiscal Year 2022-23. As noted above, the City continues to evaluate fees in conjunction with the annual budget process to ensure fees are appropriate and are not exceeding the actual cost of services provided per State law.

The Master Fee Schedule is updated annually. All fees, excluding Development Impact Fees and Public Safety, are increased annually pursuant to the annual average of the Consumer Price Index for Urban and Clerical Workers (CPI-W). Development Impact Fees are increased annually by the applicable regional annual average of the Engineering News Record - Construction Cost Index (CCI) FY2021-22 rate is 26%. Due to the impact this could have on local development, the City has elected to increase by 3%. The FY2021-22 CPI-W rate is 6.5%. In FY22-23 there will be no Public Safety increases.

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1 Administrative Fees
First Returned Item 101‐101‐4901 Each
Each Additional Item 101‐101‐4901 Each
Credit Card Convenience Fee 101‐101‐4901 2.4% on charges $30.00 and more 2 Duplication
Photocopies 101‐101‐4901 Per page
Municipal Code Book 101‐101‐4901 Per book
Bound Reports 101‐101‐4901 Per report
Budget 101‐101‐4901 Each
Comprehensive Financial Report (ACFR 101‐101‐4901 Each
3 City Clerk
Election Filing Fee 101‐110‐4901 Each
Candidate Printing Fee 101‐110‐4901 Deposit
4 Staff Research
City Manager's Office 101‐120‐4443 Per 0.25 hour
Finance Department 101‐210‐4443 Per 0.25 hour
City Clerk's Office 101‐140‐4443 Per 0.25 hour
Planning Department 101‐710‐4443 Per 0.25 hour
Building Department 101‐720‐4443 Per 0.25 hour
Public Works Department ‐ Engineering 101‐420‐4443 Per 0.25 hour Public Works Department ‐ Maintenance 101‐430‐4443 Per 0.25 hour Police ‐ Sworn 101‐310‐4203 Per 0.25 hour
Police ‐ Non Sworn 101‐310‐4203 Per 0.25 hour
5 Private Alarm Permits (Chapter 9.10)
Alarm Permit 101‐310‐4202 Each
False Alarm Response with Permit
1st & 2nd Alarms 101‐310‐4202 No fee
3rd Alarm 101‐310‐4202 Each
4th Alarm 101‐310‐4202 Each
5th Alarm 101‐310‐4202 Each
6th Alarm and responses thereafter 101‐310‐4202 Each
False Alarm without Permit
1st & 2nd Alarms 101‐310‐4202 Each
3rd Alarm 101‐310‐4202 Each
4th Alarm 101‐310‐4202 Each
5th Alarm 101‐310‐4202 Each
6th Alarm and responses thereafter 101‐310‐4202 Each
6 Film Permit (Chapter 9.74) 101‐101‐4201 Per day
7 Special Event Permits [1]
Block Parties 101‐101‐4201 Per event
Fund Raisers 101‐101‐4201 Per event
Miscellaneous Events 101‐101‐4201 Per event
Carnival/Circus/Parade/Race/Rodeo, etc. 101‐101‐4201 EachAmusement Concession 101‐101‐4201 Each 2% 2%
$448.00 $448.00$448.00 $448.00$139.00 $148.00$195.00 $207.00 $54.00 $57.00
$111.00 $118.00$224.00 $238.00$224.00 $224.00$448.00 $448.00$224.00 $224.00$280.00 $298.00$576.00 $576.00 $21.00 $21.00$46.00 $48.00$61.00 $61.00$44.00 $46.00$53.00 $56.00 $111.00 $118.00$168.00 $178.00
$0.00 $0.00
$54.00 $57.00$54.00 $57.00
$25.00
Available online Available online
Available online Available online
$49.00 $52.00$60.00 $63.00$62.00 $66.00$52.00 $55.00
Determined per election Determined per election

AMOUNT AMOUNT
I. ADMINISTRATION
City of Half Moon Bay
Master Fee Schedule
Other Fees, Charges & Services
Fees are increased annually by the annual average CPI‐W San Francisco‐Oakland‐Hayward of the previous year ‐ (excluding Development Impact Fees and Public Safety) SERVICES CODING PREVIOUS FY 21‐22 FY 22‐23 UNIT / TYPE
Available online Available online
Actual Cost Actual Cost
$0.25 $0.25
$25.00 $25.00$39.00 $39.00$25.00
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AMOUNT AMOUNT
City of Half Moon Bay
Master Fee Schedule
Other Fees, Charges & Services
Fees are increased annually by the annual average CPI‐W San Francisco‐Oakland‐Hayward of the previous year ‐ (excluding Development Impact Fees and Public Safety) SERVICES CODING PREVIOUS FY 21‐22 FY 22‐23 UNIT / TYPE
8 Poplar Beach Parking [1]
Vehicles less than 20 feet 101‐430‐4720 Per 12 hours
Horse trailers and vehicles longer than 20 feet 101‐430‐4720 Per 12 hours Annual Permit 101‐430‐4720 12 month permitNine‐month Permit 101‐430‐4720 9‐month (September through May)Replacement Parking permit 9 BID Administration for City Hotels 101‐210‐4443 Per month 10 Street Closure Expense Code
11 Professional Dog Walker permit Annual (January 1 ‐ December 31) 12 Personal Dog Walker permit (3‐6 dogs) Annual (January 1 ‐ December 31) 13 Annual License Agreement
Parklet Activities SpaceSidewalk Activities SpaceOther Per City Council approval [1] Fees may be waived by the City Manager for NPDES related volunteer events 0 Building Hourly Rates Per hour
101‐720‐4422 Per hour
101‐720‐4422 Per hour
101‐720‐4422 Per hour
101‐720‐4422 Per hour
1 Valuation ($)
0 ‐ 500 (Includes basic water heater, furnance replacements and re‐roofing with two or 101‐720‐4422 Per hour fewer inspections)
501 ‐ 2,000
First 500 101‐720‐4422 Valuation
Each Additional 100 or fraction thereof 101‐720‐4422
2,001 ‐ 25,000
First 2,000 101‐720‐4422 Valuation
Each Additional 1,000 or fraction thereof 101‐720‐4422
25,001 ‐ 50,000
First 25,000 101‐720‐4422 Valuation
Each Additional 1,000 or fraction thereof 101‐720‐4422
50,001 ‐ 100,000
First 50,000 101‐720‐4422 Valuation
Each Additional 1,000 or fraction thereof 101‐720‐4422
100,000 ‐ 500,000
First 100,000 101‐720‐4422 Valuation
Each Additional 1,000 or fraction thereof 101‐720‐4422
500,001 ‐ 1,000,000
First 500,000 101‐720‐4422 Valuation
Each Additional 1,000 or fraction thereof 101‐720‐4422
1,000,001 and above
First 1,000,000 101‐720‐4422 Valuation
Each Additional 1,000 or fraction thereof 101‐720‐4422
$90.00
$823.00 $876.00
$3.00 $3.00$3.00 $3.00
$658.00 $701.00
$5,281.00 $5,624.00
$6.00 $6.00$5.00 $5.00
$2,200.00 $2,343.00
$236.00 $251.00
$11.00 $12.00
$181.00 $186.00
Inspection for which no fee is specifically indicated, per hour Hourly rate Hourly rate Building Permit Fee for Alterations, Additions, and New Construction (based on valuation of improvement)
$493.00 $525.00
$5.00 $5.00$1.00 $1.00
$438.00 $466.00
$15.00 $15.00
$165.00
$10.00 $10.00
Inspection on Sundays and Holidays, per hour 2 x hourly rate 2 x hourly rate Reinspection fees, per hour Hourly rate Hourly rate
$181.00 $186.00
Inspections outside of normal business hours, per hour 1.5 x hourly rate 1.5 x hourly rate $165.00 $165.00
Actual cost Actual cost
$90.00
$200.00
$75.00
II. BUILDING [2] [3][4]
$165.00
$200.00
$30.00
$800.00$225.00
Per City Council approval
TBD
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Per Public Works hourly rate
7 Electrical Permit
Permit Issuance
For issuing each permit 101‐720‐4422 Each
For issuing each supplemental permit for which the original permit has not expired, been canceled or finaled 101‐720‐4422 Each
New Residential Buildings
For new multifamily residential buildings (apartments and condominiums) having three or more living units, including the area of garages, carports, and other non‐commercial automobile storage areas constructed at the same time, per square foot
101‐720‐4422 Per 100 square foot
For new single and two‐family residential buildings, including the area ofgarages, carports and other minor accessory buildings constructed at the same time, per square foot
101‐720‐4422 Per 100 square foot
For other types of residential occupancies and alteration, and modifications to existing residential buildings, use the UNIT FEE SCHEDULE 101‐720‐4422 Private Swimming Pools
For new private, residential, in‐ground swimming pools for single family/multi‐ family occupancies, including a complete system of necessary branch circuit wiring, bonding, grounding, underwater lighting, water pumping, and other similar electrical equipment directly related to the operation of a swimming pool, each pool
101‐720‐4422 Each
$43.00 $46.00$21.00 $22.00$15.00 $16.00$15.00 $16.00
See Unit Fee Schedule Below See Unit Fee Schedule Below $91.00 $93.00
$273.00 $227.00
Per building hourly rate $186.00

0.25% 0.25%
$186.00$186.00
Per building hourly rate $186.00
Per building hourly rate $186.00
Per building hourly rate
Per building hourly rate
$43.00 $46.00$91.00 $93.00
$181.00 $186.00
2 X Permit Fee 2 X Permit Fee
$362.00 $373.00$181.00 $186.00
$2/drawing sheet and $5.59 flat fee for
supporting documents
$2/drawing sheet and $5.59 flat fee for
supporting documents
65% of Building Permit Fee 65% of Building Permit Fee
$186.00
$181.00 $186.00
$93.00
$181.00 $186.00$181.00
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For electrical generators and electrically driven rides, each 101‐720‐4422 Each For mechanically driven rides and walk‐through attractions or displays having electric lighting, each 101‐720‐4422 Each
For a system of area and booth lighting, each 101‐720‐4422 Each For permanently installed rides, booths, displays and attractions, use the UNIT FEE SCHEDULE 101‐720‐4422
Temporary Power Services
For a temporary service power pole or pedestal including all pole or pedestal‐ mounted receptacle outlets and appurtenances, each 101‐720‐4422 Each For a temporary distribution system and temporary lighting and receptacle outlets for construction sites, decorative light, Christmas tree sales lots, fireworks stands, etc., each
101‐720‐4422 Each
Receptable, Switch and Lighting Outlets
For receptacle, switch, lighting, or other outlets at which current is used or controlled (except services, feeders, and meters):

First 20 fixtures, each 101‐720‐4422 Each
Additional fixtures, each 101‐720‐4422 Each
For lighting fixtures, sockets, or other lamp‐holding devices:

First 20 fixtures, each 101‐720‐4422 Each
Additional fixtures, each 101‐720‐4422 Each
For pole or platform‐mounted lighting fixtures 101‐720‐4422 Each For theatrical‐type lighting fixtures or assemblies 101‐720‐4422 Each Residential Appliances
For fixed residential appliances or receptacle outlets for same, including wall‐ mounted electrical ovens; counter‐mounted cooking tops; electric ranges; self‐ contained room, console, or through wall air conditioners; space heaters; food waste grinders; dishwashers; washing machines; water heaters; clothes dryers; or other motor‐operated appliance not exceeding one horsepower (HP) in rating 101‐720‐4422 Each
Non‐Residential Appliances
For residential appliances and self‐contained factory‐wired non‐residential appliances not exceeding one horsepower (HP), kilowatt (KW), or kilovolt ampere (KVA) in rating, including medical or dental devices; food, beverage, and ice cream cabinets; illuminated show cases; drinking fountains; vending machines; laundry machines; or other similar types of equipment 101‐720‐4422 Each
Busways
For trolley and plug‐in‐type busways, each 100 feet or fraction thereof Note: An additional fee is required for lighting fixtures, motors and other appliances that are connected to trolley and plug‐in‐type busways. A fee is not required for portable tools.
101‐720‐4422 Each 100 ft or fraction thereof
$3.00 $3.00
$28.00 $30.00$28.00 $30.00
$1.48 $2.00$1.48 $2.00
$28.00 $30.00
$3.00 $3.00
$21.00 $22.00
$7.00 $7.00
See Unit Fee Schedule Below See Unit Fee Schedule Below $38.00 $40.00
$7.00 $7.00$0.30 $0.32$1.48 $2.00
$21.00 $22.00
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Up to and including 1 101‐720‐4422 Each
Over 1 and not over 10 101‐720‐4422 Each
Over 10 and not over 50 101‐720‐4422 Each
Over 50 and not over 100 101‐720‐4422 Each
Over 100 101‐720‐4422 Each
Signs, Outline Lighting and Marquees
For signs, outline lighting systems or marquees supplied from one branch circuit 101‐720‐4422 Each For additional branch circuits within the same sign, outline lighting system or marquee
101‐720‐4422 Each
Services
For services of 600 volts or less and no over 200 amperes in rating 101‐720‐4422 Each For services of 600 volts or less and not over 200 amperes to 1,000 amperes in rating 101‐720‐4422 Each
For services over 600 volts or over 1,000 amperes in rating 101‐720‐4422 Each Miscellaneous Apparatus, Conduits and Conductors
For electrical apparatus, conduits and conductors for which a permit is required but for which no fee is herein set forth 101‐720‐4422 Each Other Inspection and Fees Per hour
8 Mechanical Permit
Permit Issuance
For issuing each permit 101‐720‐4422 Each
For issuing each supplemental permit for which the original permit has not expired, been canceled or finaled 101‐720‐4422 Each
Furnaces
For the installation or relocation of each forced‐air or gravity‐type furnace or burner, including ducts, and vents attached to such appliances, up to and including 100,000 Btu/h
101‐720‐4422 Each
For the installation or relocation of each forced‐air or gravity‐type furnace or burner, including ducts, and vents attached to such appliances over 100,000 Btu/h
101‐720‐4422 Each
For the installation or relocation of each floor furnace, including vent 101‐720‐4422 Each For the installation or relocation of each suspended heater, recessed wall heater or floor‐mounted heater 101‐720‐4422 Each
Appliance Vents
For the installation, relocation or replacement of each appliance vent installed and not included in an appliance permit 101‐720‐4422 Each Repairs or Additions
For the repair of, alteration of, or addition to each heating appliance, refrigeration unit, cooling unit, absorption unit, or each heating, cooling, absorption, or evaporative cooling system, including installation of controlsregulated by the Code 101‐720‐4422 $21.00 $22.00 Each
$15.00 $16.00$43.00 $46.00
Per building hourly rate $186.00
$27.97 $30.00
$15.00 $16.00$15.00 $16.00$15.00 $16.00$15.00 $16.00$43.00 $46.00$57.00 $61.00$28.00 $30.00$28.00 $30.00$15.00 $16.00$15.00 $16.00$15.00 $16.00$21.00 $22.00$15.00 $16.00$15.00 $16.00$15.00 $16.00 Draft
402

AMOUNT AMOUNT
City of Half Moon Bay
Master Fee Schedule
Other Fees, Charges & Services
Fees are increased annually by the annual average CPI‐W San Francisco‐Oakland‐Hayward of the previous year ‐ (excluding Development Impact Fees and Public Safety) SERVICES CODING PREVIOUS FY 21‐22 FY 22‐23 UNIT / TYPE
Boilers, Compressors and Absorption Systems
For the installation or relocation of each boiler or compressor up to and including three horsepower, or each absorption system up to and including 100,000 Btu/h
101‐720‐4422 Each
For the installation or relocation of each boiler or compressor over three horsepower, up to and including 15 horsepower, or each absorption system over 100,000 Btu/h to and including 500,000 Btu/h
101‐720‐4422 Each
For the installation or relocation of each boiler or compressor over 15 horsepower, up to and including 30 horsepower, or each absorption system over 500,000 Btu/h to and including 1,000,000 Btu/h
101‐720‐4422 Each
For the installation or relocation of each boiler or compressor over 30 horsepower to and including 50 horsepower, or for each absorption system over 1,000,000 Btu/h to and including 1,750,000 Btu/h
101‐720‐4422 Each
Air Handlers
For each air‐handling unit to and including 10,000 cubic feet per minute, including ducts attached thereto 101‐720‐4422 Each
For each air‐handling unit over 10,000 cfm 101‐720‐4422 Each Evaporative Coolers
For each evaporative cooler other than portable type 101‐720‐4422 Each Ventilation and Exhaust
For each ventilation fan connected to a single duct 101‐720‐4422 Each For each ventilation system which is not a portion of any heating or air‐conditioning system authorized by a permit 101‐720‐4422 Each For the installation of each hood which is served by mechanical exhaust,including the ducts for such hood 101‐720‐4422 Each Incinerators
For the installation or relocation of each domestic‐type incinerator 101‐720‐4422 Each For the installation or relocation of each commercial or industrial‐type incinerator 101‐720‐4422 Each
Miscellaneous
For each appliance or piece of equipment regulated by the Mechanical Code but not classed in other appliance categories, or for which no other fee is listed inthe table 101‐720‐4422 Each
9 Plumbing Permit
Permit Issuance
For issuing each permit 101‐720‐4422 Each
For issuing each supplemental permit for which the original permit has not expired, been canceled or finaled 101‐720‐4422 Each
Fixtures and Vents
For each plumbing fixture or trap or set of fixtures on one trap (including water, drainage piping and backflow protection therefore) 101‐720‐4422 Each For each repair or alteration of drainage or vent piping, each fixture 101‐720‐4422 Each Sewers, Disposal Systems and Interceptors 101‐720‐4422
For each building sewer and each trailer park sewer 101‐720‐4422 Each Rainwater systems‐per drain (inside building) 101‐720‐4422 Each For each cesspool (where permitted) 101‐720‐4422 Each
For each private sewage disposal system 101‐720‐4422 Each For each industrial waste pretreatment interceptor including its trap and vent, except kitchen‐type grease interceptors functioning as fixture traps 101‐720‐4422 Each $15.00 $16.00$15.00 $16.00$45.00 $48.00$45.00 $48.00$21.00 $22.00$21.00 $22.00$15.00 $16.00$15.00 $16.00$28.00 $30.00$15.00 $16.00$15.00 $16.00$15.00 $16.00$15.00 $16.00$15.00 $16.00$28.00 $30.00$28.00 $30.00$45.00 $48.00$15.00 $16.00$28.00 $30.00$91.00 $97.00$45.00 $48.00$45.00 $48.00 Draft
403

AMOUNT AMOUNT
City of Half Moon Bay
Master Fee Schedule
Other Fees, Charges & Services
Fees are increased annually by the annual average CPI‐W San Francisco‐Oakland‐Hayward of the previous year ‐ (excluding Development Impact Fees and Public Safety) SERVICES CODING PREVIOUS FY 21‐22 FY 22‐23 UNIT / TYPE
0 Public Works Hourly Rate 101‐420‐4443 Hourly rate
1 Public Improvement Plan Check Fee (including grading) Valuation ($)
$10,000 101‐420‐4421 Flat fee
Each additional $1,000 or fraction thereof 101‐420‐4421 Flat fee $100,000 101‐420‐4421 Flat feeEach additional $1,000 or fraction thereof 101‐420‐4421 Flat fee $500,000 101‐420‐4421 Flat feeEach additional $1,000 or fraction thereof 101‐420‐4421 Flat fee 2 Construction Inspection
Valuation ($)
$10,000 101‐420‐4421 Flat fee
Each additional $1,000 or fraction thereof 101‐420‐4421 Flat fee $100,000 101‐420‐4421 Flat feeEach additional $1,000 or fraction thereof 101‐420‐4421 Flat fee $500,000 101‐420‐4421 Flat feeEach additional $1,000 or fraction thereof 101‐420‐4421 Flat fee 3Final Map Review
Parcel Map (Up to 4) 101‐000‐2302 Deposit
Tract Map (Up to 5) 101‐000‐2302 Deposit
4 Subdivision Improvement Agreement Review 101‐000‐2302 Deposit 5 Encroachment Permits Plan Review & Inspection
Spot Repair (I.e. water leaks, pothole patches) 101‐420‐4421 Flat Fee Excavation/Restoration less that 100 LF 101‐420‐4421 Flat Fee Excavation/Restoration 100 LF or greater 101‐420‐4421 Flat Fee each additional 100 LF 101‐420‐4421 Flat Fee
Curb, gutter, sidewalk, or driveway less that 100 LF 101‐420‐4421 Flat Fee Curb, gutter, sidewalk, or driveway 100 LF or greater 101‐420‐4421 Flat Fee each additional 100 LF 101‐420‐4421 Flat Fee
Sewer connections, repair or extension 100 LF or less 101‐420‐4421 Flat Fee Storm Drain connection, repair or extension 100 LF or Greater 101‐420‐4421 Flat Fee each additional 100 LF 101‐420‐4421 Flat Fee
Storm Drain connection, repair or extension <100 LF 101‐420‐4421 Flat Feeeach additional 100 LF 101‐420‐4421 Flat Fee Storm Drain connection, repair or extension >100 LF 101‐420‐4421 Flat Fee each additional 100 LF 101‐420‐4421 Flat Fee
Unpermitted encroachments 101‐420‐4421 Fine / PenaltyMonitoring Wells 101‐420‐4421 Flat FeePermit Time Extension 101‐420‐4421 Flat Fee 6 Public Right‐of‐Way/Easement Encroachment (Temporary) 101‐420‐4421 Flat fee7 Deferred Improvement Agreement Review 101‐420‐4421 Flat fee8 Grading Permits Plan Review and Inspection [3] Grading changes 50‐1,000 CY 101‐140‐5231 Flat fee
Grading changes >1,000 CY 101‐140‐5231 Flat fee
Additional 100 CY over 1000 101‐140‐5231 Flat fee
9 Sewer
FOG Self Certification Form Flat fee
Transfer of Uninstalled Capacity Fee 202‐520‐4506 $443.00 $472.00 Flat fee $890.00 $234.00
$54.00

1.5 x fee 2 x Permit fee
$443.00 $472.00$890.00 $948.00$443.00 $472.00$890.00 $948.00$443.00 $472.00 $948.00
$890.00 $948.00$443.00 $472.00$109.00 $116.00$220.00 $234.00$890.00 $948.00 $443.00 $472.00$443.00 $472.00$890.00 $948.00
$3,410.00 $3,410.00
$890.00 $948.00$443.00 $472.00$443.00 $472.00$890.00 $948.00$890.00 $948.00$890.00 $948.00 $72.00 $77.00
$7,566.00 $8,058.00
$890.00 $948.00
$38.00 $40.00
$6,854.00 $6,854.00$8,568.00 $8,568.00
$61.00 $65.00$57.00 $61.00
$31,381.00 $33,421.00
$36.00 $38.00
$19,807.00 $21,094.00
$43.00 $46.00
$4,895.00 $5,213.00
$890.00 $948.00
III. PUBLIC WORKS [5] [6]
$220.00 $227.00
$51.00
Draft
405

AMOUNT AMOUNT
City of Half Moon Bay
Master Fee Schedule
Other Fees, Charges & Services
Fees are increased annually by the annual average CPI‐W San Francisco‐Oakland‐Hayward of the previous year ‐ (excluding Development Impact Fees and Public Safety) SERVICES CODING PREVIOUS FY 21‐22 FY 22‐23 UNIT / TYPE
10 Supporting to Planning
Pre‐Entitlement Processing
Pre‐Application Review 101‐000‐2302 Deposit
Pre‐Application: Commercial Cannabis Business Review 101‐000‐2302 Deposit Coastal Development Permit Processing
Coastal Development Permit Exemption 101‐420‐4421 Flat Fee Single Family Residential 101‐000‐2302 Deposit
Accessory Dwelling Unit ‐ New Development 101‐420‐4421 Flat FeeMultiple Family Residential 101‐000‐2302 Deposit Commercial / Mixed Use 101‐000‐2302 Deposit
Industrial / Institutional 101‐000‐2302 DepositOther Development Community Development Director 101‐000‐2302 Deposit
Planning Commission 101‐000‐2302 Deposit
Amendments
Minor Amendments 101‐420‐4421 Flat fee
Major Amendments 101‐000‐2302 Deposit
Environmental Clearance Processing
CEQA/NEPA Environmental Clearance
Negative Declaration 101‐000‐2302 Deposit
EIR 101‐000‐2302 Deposit
Entitlement ProcessingCommercial Cannabis Business License 101‐000‐2302 Deposit Use Permit 101‐000‐2302 Deposit
Variance / Exception Planning Commission 101‐000‐2302 Deposit Exception/Community Development Director 101‐000‐2302 Deposit Zoning, LCP, and GP Amendments
LCP/GP 101‐000‐2302 Deposit
IP/Rezoning 101‐000‐2302 Deposit
Planned Unit Development Specific Plan 101‐000‐2302 DepositPlanned Unit Development Specific Plan Amendment 101‐000‐2302 DepositPlanned Unit Development Precise Plan 101‐000‐2302 Deposit Planned Unit Development Precise Plan Amendment 101‐000‐2302 DepositAnnexation/Prezoning 101‐000‐2302 Deposit Land Division and Merger
Certificate of Compliance 101‐000‐2302 Deposit
Lot Merger 101‐000‐2302 Deposit
Lot Line Adjustment 101‐000‐2302 Deposit
Parcel Map (four or fewer lots) 101‐000‐2302 Deposit
Tentative Subdivision Map 101‐000‐2302 DepositSubdivision Agreement No Fee Time Extension 101‐000‐2302 Deposit
Community Development Director Review 101‐000‐2302 Deposit $919.00 $919.00
$1,837.00 $1,837.00
$919.00 $919.00$459.00 $459.00$919.00 $919.00$919.00 $919.00$228.00 $228.00 $3,675.00 $3,675.00
$919.00 $919.00$836.00 $836.00$919.00 $919.00
$1,672.00 $1,672.00
$919.00 $919.00$919.00 $919.00$919.00 $919.00$919.00 $919.00$919.00 $919.00$919.00 $919.00 $1,837.00 $1,837.00
$919.00 $919.00
$1,837.00 $1,837.00$1,837.00 $1,837.00
$856.00 $856.00
$1,713.00 $1,713.00
$220.00 $234.00
$1,837.00 $1,837.00
$220.00 $220.00$443.00 $472.00
$1,837.00 $1,837.00
$220.00 $234.00$890.00 $890.00$220.00 $220.00
Draft
406

AMOUNT AMOUNT
City of Half Moon Bay
Master Fee Schedule
Other Fees, Charges & Services
Fees are increased annually by the annual average CPI‐W San Francisco‐Oakland‐Hayward of the previous year ‐ (excluding Development Impact Fees and Public Safety) SERVICES CODING PREVIOUS FY 21‐22 FY 22‐23 UNIT / TYPE
11 Building Plan Review / Support
Minor Residential improvement 101‐420‐4421 Flat fee
TI or Addition of s.f 101‐420‐4421 Flat fee
New SFD 101‐420‐4421 Flat fee
New Multifamily or Commercial 101‐420‐4421 Flat fee
[3] Permit fees for work done without a valid permit are 2x the applicable permit fee[5] Construction activities during October through April shall require Storm Water Pollution Prevention plans, measures and fees.[6] For deposit accounts, total cost equal to 100% of staff and/or consultant time and materials 1 Single Family and Acessory Dwelling Units greater than 750 SQFT (Developer Impact Fees calculated for each Accessory Dwelling Unit per City Ordinance and State Law)
Sewer Capacity ‐ Assessment District Participant 202‐520‐4506 Per dwelling unit Sewer Capacity ‐ Assessment District Non‐Participant 202‐520‐4506 Each SFRE*** SMIP Residential* 101‐000‐2181 $100,000 Valuation
SMIP Commercial* 101‐000‐2181 $100,000 Valuation
BSRF (Bldg. Stndrds Admin Spec Revolving Fnd)**
$1 ‐ 25,000 101‐000‐2182 Valuation
$25,001 ‐ 50,000 101‐000‐2182 Valuation
$50,001 ‐ 75,000 101‐000‐2182 Valuation
$75,001 ‐ 100,000 101‐000‐2182 Valuation
Every $25,000 or fraction above $100,000 101‐000‐2182 Valuation Storm Drainage 152‐450‐4501 Per dwelling unit
Capital Outlay Facilities 301‐101‐4503 Per dwelling unit Traffic Mitigation 112‐510‐4502 Per dwelling unit
Park Facilities 125‐530‐4504 Per dwelling unit
2 Development Fees; Multi‐Family / Commercial
Sewer Capacity
Multi‐Family 202‐520‐4506 Per dwelling unit
Mobile Home 202‐520‐4506 Per dwelling unit
Office 202‐520‐4506 Per 1,000 square feet
Commercial/Retail 202‐520‐4506 Per 1,000 square feet
Lodging 202‐520‐4506 Per room
Industrial 202‐520‐4506 Per 1,000 square feet
Sewer Connection ‐ Assessment District Non‐Participant 202‐520‐4506 Each SFRE*** SMIP Residential* 101‐000‐2181 Valuation over $3,850, the fee is $13 per $100,000 permit valuation SMIP Commercial* 101‐000‐2181 Valuation over $1,786, the fee is $28 per $100,000 permit valuation SMIP Flat Fee* 101‐000‐2181
Residential permits under $3,850 and
Commerical permits under $1,786, fee is$.50
BSRF (Bldg. Stndrds Admin Spec Revolving Fnd)**
$1 ‐ 25,000 101‐000‐2182 Valuation
$25,001 ‐ 50,000 101‐000‐2182 Valuation
$50,001 ‐ 75,000 101‐000‐2182 Valuation
$75,001 ‐ 100,000 101‐000‐2182 Valuation
Every $25,000 or fraction thereof above $100,000 101‐000‐2182 Valuation Per formula Per formula
According to Chapter 719, Statutes of 2008
(Senate Bill No. 1473)
According to Chapter 719, Statutes of 2008
(Senate Bill No. 1473)
Per formula Per formulaPer formula Per formula
$2,054.00 $2,188.00
$18,743.00 $19,961.00
$1.00 $1.00$3.00 $3.00$4.00 $4.00$1.00 $1.00$2.00 $2.00 $7,417.00 $7,899.00$8,375.00 $8,919.00
$803.00 $855.00
$1,138.00 $1,212.00
$4.00 $4.00$1.00 $1.00
$2,054.00 $2,188.00$2,054.00 $2,188.00$3,320.00 $3,536.00$1,423.00 $1,515.00$4,428.00 $4,716.00$5,272.00 $5,615.00 $18,743.00 $19,961.00
$1,110.00 $1,182.00
IV. DEVELOPER IMPACT FEES [7]
$443.00 $472.00$443.00 $472.00
$2.00 $2.00$3.00 $3.00$1.00 $1.00$0.00 $0.00$0.00 $0.00 $220.00 $234.00
Draft
407

Per Chapter 17.48 of Municipal Code Per Chapter 17.48 of Municipal Code $4,650.00 $4,952.00$7,791.00 $8,297.00$4,045.00 $4,308.00$3,828.00 $4,077.00 $181.00 $193.00
$5,303.00 $5,648.00$6,978.00 $7,432.00$2,486.00 $2,648.00$3,780.00 $4,026.00 $0.00 $0.00
$338.00 $360.00$677.00 $721.00$489.00 $521.00$317.00 $338.00 $0.00 $0.00
$199.00 $212.00
$25.00 $27.00
$720.00 $767.00$363.00 $387.00$949.00 $1,011.00
Draft
408

AMOUNT AMOUNT
City of Half Moon Bay
Master Fee Schedule
Other Fees, Charges & Services
Fees are increased annually by the annual average CPI‐W San Francisco‐Oakland‐Hayward of the previous year ‐ (excluding Development Impact Fees and Public Safety) SERVICES CODING PREVIOUS FY 21‐22 FY 22‐23 UNIT / TYPE
0 Per hour
1 Pre‐Application Review 101‐000‐2302 Deposit
Pre‐Application Commercial Cannabis Business 101‐000‐2302 Deposit Measure 'D'
Accessory Dwelling Unit (consistent with City Ordinance and State Law) 101‐710‐4443 ACT456 Flat fee Single Allocation 101‐710‐4443 ACT456 Flat fee
Phasing Agreement 101‐000‐2302 Deposit
2 Coastal Development Permit Exemption 101‐000‐2302 Deposit Single Family Residential
<= 3,000 square feet 101‐000‐2302 Deposit
> 3,000 square feet 101‐000‐2302 Deposit
Accessory Dwelling Unit ‐ New Development 101‐710‐4443 Flat feeMultiple Family Residential >= Four dwelling units 101‐000‐2302 Deposit
< Four dwelling units 101‐000‐2302 Deposit
Commercial / Mixed Use
<= 10,000 square feet 101‐000‐2302 Deposit
> 10,000 square feet 101‐000‐2302 Deposit
Industrial / Institutional
<= 20,000 square feet 101‐000‐2302 Deposit
> 20,000 square feet 101‐000‐2302 Deposit
Other Development
Community Development Director 101‐000‐2302 Deposit
Planning Commission 101‐000‐2302 Deposit
Amendments
Minor Amendment 101‐710‐4443 Flat feeMajor Amendments 101‐000‐2302 Deposit 3 CEQA/NEPA Environmental Clearance
Negative Declaration 101‐000‐2302 Deposit
EIR 101‐000‐2302 Deposit
Notice of Exemption 101‐710‐4443 Flat fee
4 Architectural, Landscape, and Site Plan Review 101‐000‐2302 Deposit 5 Home Occupation 101‐710‐4443 Flat fee
Commercial Cannabis Business License 101‐000‐2302 Deposit Use Permit 101‐000‐2302 Deposit
Variance / Exception Planning Commission 101‐000‐2302 Deposit Exception and Community Development Director 101‐000‐2302 Deposit Design Review Processing
$749.00 $749.00
$11,335.00 $11,335.00
$241.00 $257.00
$5,037.00 $5,037.00
$502.00 $502.00
$5,604.00 $5,604.00$1,139.00 $1,139.00$1,139.00 $1,139.00 Entitlement Processing
$120.00 $128.00
$6,232.00 $6,232.00$3,718.00 $3,718.00$3,718.00 $3,718.00$6,232.00 $6,232.00$2,758.00 $2,758.00 Environmental Clearance Processing
$468.00 $498.00
$2,758.00 $2,758.00$3,538.00 $3,538.00$2,519.00 $2,519.00 Coastal Development Permit Processing
$505.00 $505.00
$650.00
$610.00 $650.00
$2,301.00 $2,301.00
$610.00
$6,232.00 $6,232.00$3,718.00 $3,718.00$3,238.00 $3,238.00 $605.00 $644.00
$1,581.00 $1,581.00
Pre‐Entitlement Processing
$1,738.00 $1,738.00
V. PLANNING [8][9]
Planning Hourly Rate $241.00 $248.00
Draft
409

AMOUNT AMOUNT
City of Half Moon Bay
Master Fee Schedule
Other Fees, Charges & Services
Fees are increased annually by the annual average CPI‐W San Francisco‐Oakland‐Hayward of the previous year ‐ (excluding Development Impact Fees and Public Safety) SERVICES CODING PREVIOUS FY 21‐22 FY 22‐23 UNIT / TYPE
Zoning, LCP, and GP Amendments
LCP/GP 101‐000‐2302 Deposit
IP/Rezoning 101‐000‐2302 Deposit
Planned Unit Development Specific Plan 101‐000‐2302 DepositPlanned Unit Development Specific Plan Amendment 101‐000‐2302 DepositPlanned Unit Development Precise Plan 101‐000‐2302 DepositPlanned Unit Development Precise Plan Amendment 101‐000‐2302 DepositAnnexation/Prezoning 101‐000‐2302 Deposit 6 Filling Fee ‐ Outside CCC Aplleals Jurisdiction 101‐710‐4443 Flat fee Filling Fee ‐ Within CCC Aplleals Jurisdiction No fee
Processing Fee ‐ Paid by developer 101‐000‐2302 Deposit 7 Certificate of Compliance 101‐000‐2302 DepositLot Merger 101‐000‐2302 Deposit Lot Line Adjustment 101‐000‐2302 Deposit
Parcel Map (four or fewer lots) 101‐000‐2302 Deposit
Tentative Subdivision Map 101‐000‐2302 DepositSubdivision Agreement 101‐000‐2302 Deposit Time Extension 101‐000‐2302 Deposit
8 Community Development Director Review 101‐710‐4443 Flat fee Planning Commission Review 101‐000‐2302 Deposit
Exceptions Planning Commission Review 101‐000‐2302 Deposit 9 Zoning Compliance Letter 101‐710‐4443 Flat fee
Public Convenience & Necessity Letter 101‐710‐4443 Flat fee Water Transfer Letter 101‐710‐4443 Flat fee
Parklets Flat fee
Sidewalks Flat fee
Combination Projects Flat fee
10 Up to 5 trees 101‐710‐4443 Flat Fee
More than 5 trees 101‐000‐2302 Deposit
11 101‐710‐4443 Flat fee
12 101‐710‐4442 Flat fee
13 California Department of Fish and Wildlife
Per agency schedule
Local Agency Formation Commission (LAFCo) Per agency schedule San Mateo County Recorder Per agency schedule
[8] For deposit accounts, total cost equal to 100% of staff and/or consultant time and materials[9] Fees charged by these agencies are in addition to fees charged by the City $306.00 $326.00$529.00 $529.00$241.00 $257.00
Tree Removal Review
$241.00 $257.00$241.00 $257.00
Annexation fees vary by acrage Annexation fees vary by acrage Fee required to record and/or post various
documents
Fee required to record and/or post various
documents
Fees Required by other Agencies [9]
Fee required to review various
environmental documents
Fee required to review various
environmental documents
Mobile Food Vendor Permit $241.00 $257.00
Sound Amplification Permit $241.00 $257.00
$12,596.00 $12,596.00
$5,037.00 $5,037.00$2,278.00 $2,278.00$4,558.00 $4,558.00$2,278.00 $2,278.00$1,006.00 $1,006.00$1,139.00 $1,139.00 Other Services
$184.00 $196.00
$1,139.00 $1,139.00$2,278.00 $2,278.00
Sign Permit
$8,816.00 $8,816.00$4,558.00 $4,558.00
$17,693.00 $17,693.00
$8,816.00 $8,816.00
$17,693.00 $17,693.00$17,693.00 $17,693.00
$3,777.00 $3,777.00
Land Division and Merger
$241.00 $257.00
$0.00
$17,693.00 $17,693.00
Appeals Half the original fee if applicable. No appeal fee if the City is the applicant. $500.00$500.00
Draft
$600.00
410

AMOUNT AMOUNT
City of Half Moon Bay
Master Fee Schedule
Other Fees, Charges & Services
Fees are increased annually by the annual average CPI‐W San Francisco‐Oakland‐Hayward of the previous year ‐ (excluding Development Impact Fees and Public Safety) SERVICES CODING PREVIOUS FY 21‐22 FY 22‐23 UNIT / TYPE
1 Violations of Municipal Code other than building or safety provisions First Violation 101‐101‐4441 Each
Second Violation within one calendar year 101‐101‐4441 Each Third or subsequent violations within one calendar year 101‐101‐4441 Each 2 Violations of building or safety provisions of the Municipal Code First Violation 101‐101‐4441 Each
Second Violation within one calendar year 101‐101‐4441 Each Third or subsequent violations within one calendar year 101‐101‐4441 Each 1 Violations of Municipal Code other than building or safety provisions First Violation 101‐101‐4441 Each
Second Violation within one calendar year 101‐101‐4441 Each Third or subsequent violations within one calendar year 101‐101‐4441 Each 2 Violations of building or safety provisions of the Municipal Code First Violation 101‐101‐4441 Each
Second Violation within one calendar year 101‐101‐4441 Each Third or subsequent violations within one calendar year 101‐101‐4441 Each 3 Facility Rental fees
General Public Fees
Grand Oak Room
Week Day Rate (9am ‐ 5pm) Per Hour
Weekend/WeekDay Rate (after 5pm) Per Hour
Security Deposit Deposit
Oak Room
Week Day Rate (9am ‐ 5pm) Per Hour
Weekend/WeekDay Rate (after 5pm) Per Hour
Security Deposit Deposit
Manzanita Room
Week Day Rate (9am ‐ 5pm) Per HourWeekend/WeekDay Rate (after 5pm) Per Hour Security Deposit Deposit
Tree Rooms
Week Day Rate (9am ‐ 5pm) Per HourWeekend/WeekDay Rate (after 5pm) Per Hour Security Deposit Deposit
Day Rooms
Week Day Rate (9am ‐ 5pm) Per HourWeekend/WeekDay Rate (after 5pm) Per Hour Security Deposit Deposit
Sun Room
Week Day Rate (9am ‐ 5pm) Per HourWeekend/WeekDay Rate (after 5pm) Per Hour Security Deposit Deposit
$100.00 $100.00$200.00 $200.00$500.00 $500.00
VII. PARKS AND RECREATION
$100.00 $100.00$500.00 $500.00
$1,000.00 $1,000.00
$60.00
$125.00$500.00
$40.00
$100.00 $100.00$500.00 $500.00
$1,000.00 $1,000.00
$200.00 $200.00$500.00 $500.00
VI. ADMINISTRATIVE CITATION PENALTIES
$100.00 $100.00$100.00$300.00
$25.00$60.00
$200.00
$20.00$35.00
$100.00
$20.00$35.00
$100.00
$20.00$35.00
$100.00
$60.00
$125.00$500.00
$40.00
$100.00$300.00
$25.00$60.00
$200.00
$20.00$35.00
$100.00
$20.00$35.00
$100.00
$20.00$35.00
$100.00
Draft
411

9.11.010 Skateboard Park Use: Pads/Helment 101‐310‐4301 ACT90 $25.00 $44.00 $25.00 $44.00 Each

9.12.040 Consume Alcohol In Public Right Of Way 101‐310‐4301 ACT90 Each9.12.050 Alcoholic Beverages‐Public Parks 101‐310‐4301 ACT90 Each9.12.070 Prohibit Fires City Beaches 101‐310‐4301 ACT90 Each9.12.080 Prohibit Fires City Parks 101‐310‐4301 ACT90 Each9.12.090 Prohibit Glass Containers City Parks And Beaches 101‐310‐4301 ACT90 Each

9.13.030 Park Hours‐Closed Sunset to Sunrise 101‐310‐4301 ACT90 Each

9.13.050 Unlawful Activities (Designated) 101‐310‐4301 ACT90 Each

9.14.010(b) Fireworks manf/sale/possession 101‐310‐4301 ACT90 $107.00 $47.00 $107.00 $47.00 Each

9.24.020 Sleep in Vehicle 2200/0600 101‐310‐4301 ACT90 $50.00 $44.00 $50.00 $44.00 Each

9.48.020 Discharge Firearm (City) 101‐310‐4301 ACT90 $100.00 $47.00 $100.00 $47.00 Each9.48.060 Sale To Minor/gas weapon 101‐310‐4301 ACT90 $25.00 $44.00 $25.00 $44.00 Each

10.08.020 Direct Traffic Unauthorized Person 101‐310‐4301 ACT90 $50.00 $44.00 $50.00 $44.00 Each

10.08.030 Traffic Direction 101‐310‐4301 ACT90 $50.00 $44.00 $50.00 $44.00 Each

10.08.060 Removing Chalk Marks 101‐310‐4301 ACT90 $74.00 $44.00 $74.00 $44.00 Each

10.12.030 Obedience To Signs 101‐310‐4301 ACT90 $74.00 $44.00 $74.00 $44.00 Each

10.16.040 U‐turns To Enter Parking Spaces 101‐310‐4301 ACT90 $25.00 $44.00 $25.00 $44.00 Each

10.28.020 Clinging To Motor Vehicle 101‐310‐4301 ACT90 $50.00 $44.00 $50.00 $44.00 Each

10.28.040 Riding/Driving Sidewalk (Vehicle/Horse) 101‐310‐4301 ACT90 $25.00 $44.00 $25.00 $44.00 Each

10.28.050 Drive On New Pavement/Markings 101‐310‐4301 ACT90 $25.00 $44.00 $25.00 $44.00 Each

10.28.060 Limited Access 101‐310‐4301 ACT90 $46.00 $47.00 $46.00 $47.00 Each

10.28.080 Obey Barriers And Signs 101‐310‐4301 ACT90 $25.00 $44.00 $25.00 $44.00 Each

10.36.110 Wheels Not Curbed 101‐310‐4301 ACT90 $46.00 $47.00 $46.00 $47.00 Each

10.36.010 No Parking, Stopping, Standing 101‐310‐4301 ACT90 $45.00 $47.00 $45.00 $47.00 Each

10.36.010(B) Poplar Beach/Time Limit Parking 101‐310‐4301 ACT90 $40.00 $44.00 $40.00 $44.00 Each

10.36.030 Parking Restricted 101‐310‐4301 ACT90 $45.00 $47.00 $45.00 $47.00 Each

10.36.040 No Parking Zone (Permits) 101‐310‐4301 ACT90 $49.00 $47.00 $49.00 $47.00 Each

10.36.050 Parked Over 72 Hours 101‐310‐4301 ACT90 $49.00 $47.00 $49.00 $47.00 Each

10.36.060 Advertising For Sale On Street 101‐310‐4301 ACT90 $46.00 $47.00 $46.00 $46.00 Each

10.36.070 Repair Vehicle On Street 101‐310‐4301 ACT90 $46.00 $47.00 $46.00 $47.00 Each

10.36.080 Washing Vehicle On Street 101‐310‐4301 ACT90 $46.00 $47.00 $46.00 $47.00 Each

10.36.090 (B) School Zone 101‐310‐4301 ACT90 $49.00 $47.00 $49.00 $47.00 Each

10.36.100 (A) No Parking Posted 101‐310‐4301 ACT90 $49.00 $47.00 $49.00 $47.00 Each

10.36.100 (B) No Parking‐Narrow Street 101‐310‐4301 ACT90 $49.00 $47.00 $49.00 $47.00 Each

10.36.120 Peddler Vehicle‐No Permit 101‐310‐4301 ACT90 $46.00 $47.00 $46.00 $47.00 Each

10.36.130 Emergency Signs 101‐310‐4301 ACT90 $80.00 $47.00 $80.00 $46.00 Each

10.36.150 Electric Vehicle Parking Only 101‐310‐4301 ACT90 $46.00 $47.00 $46.00 $47.00 Each

10.36.160 Electric Over Two Hours 101‐310‐4301 ACT90 $40.00 $47.00 $40.00 $47.00 Each

10.37.020 Oversize Vehicle 0200‐0500 101‐310‐4301 ACT90 $80.00 $47.00 $80.00 $47.00 Each

10.37.030 Non‐Motorized Vehicle Unhook 101‐310‐4301 ACT90 $80.00 $47.00 $80.00 $47.00 Each

10.40.010 15 Min Zone (Green Curb) 101‐310‐4301 ACT90 $49.00 $47.00 $49.00 $47.00 Each

10.40.020 2 Hour Zone 101‐310‐4301 ACT90 $49.00 $47.00 $49.00 $47.00 Each

10.40.030 Parking On One‐Way Streets 101‐310‐4301 ACT90 $49.00 $47.00 $49.00 $47.00 Each

10.40.040 (A) Diagonal Parking Zone 101‐310‐4301 ACT90 $49.00 $47.00 $49.00 $47.00 Each

10.40.040 (B) Front Tire 6 Inches From Curb 101‐310‐4301 ACT90 $49.00 $47.00 $49.00 $47.00 Each Draft
415

10.40.050 Use More Than One Space 101‐310‐4301 ACT90 $49.00 $47.00 $49.00 $47.00 Each

10.40.060 No Stopping Zone 101‐310‐4301 ACT90 $49.00 $47.00 $49.00 $47.00 Each

10.40.070 12 Hour Parking‐When Posted 101‐310‐4301 ACT90 $46.00 $44.00 $46.00 $44.00 Each

10.40.080 Move Vehicle ‐ Avoid Time Limit 101‐310‐4301 ACT90 $46.00 $44.00 $46.00 $44.00 Each

10.40.090 Store Vehicle On Street 101‐310‐4301 ACT90 $46.00 $44.00 $46.00 $44.00 Each

10.40.100 Repeat Violations 101‐310‐4301 ACT90 $46.00 $44.00 $46.00 $44.00 Each

10.40.110 Extended Parking Permits 101‐310‐4301 ACT90 $46.00 $44.00 $46.00 $44.00 Each

10.44.020 Curb Marked (Red/White/Green) 101‐310‐4301 ACT90 $74.00 $44.00 $74.00 $44.00 Each

10.44.030 No Truck/Trailer 101‐310‐4301 ACT90 $71.00 $44.00 $71.00 $44.00 Each

10.44.040 Loading Zone 101‐310‐4301 ACT90 $46.00 $44.00 $46.00 $44.00 Each

10.44.050 Passenger Loading Zone 101‐310‐4301 ACT90 $46.00 $44.00 $46.00 $44.00 Each

10.44.060 No Parking In Alley 101‐310‐4301 ACT90 $46.00 $44.00 $46.00 $44.00 Each

10.44.070 Bus Zone 101‐310‐4301 ACT90 $46.00 $44.00 $46.00 $44.00 Each

10.48.030 Vehicle Off Road 101‐310‐4301 ACT90 $71.00 $44.00 $71.00 $44.00 Each

10.50.010 No Parking After Dusk Mirada/Redondo/Poplar 101‐310‐4301 ACT90 $74.00 $44.00 $74.00 $44.00 Each

10.50.020 No Parking After Dusk Wavecrest 101‐310‐4301 ACT90 $74.00 $44.00 $74.00 $44.00 Each

12.08.040 Dumping On Street/Alley/Gutter 101‐310‐4301 ACT90 $286.00 $44.00 $286.00 $44.00 Each

12.12.030 Dumping 101‐310‐4301 ACT90 $124.00 $44.00 $124.00 $44.00 Each California Vehicle Code ^^ FEE DELINQUENT FEE FEE DELINQUENT FEE 21113 (A) Parked On Public Ground 101‐310‐4301 ACT90 $43.00 $42.00 $43.00 $42.00 Each Parking Prohibited 101‐310‐4301 ACT90 $38.00 $42.00 $38.00 $42.00 Each 22500 (A) Parking In Intersection 101‐310‐4301 ACT90 $38.00 $42.00 $38.00 $42.00 Each 22500 (B) Parking On Crosswalk 101‐310‐4301 ACT90 $38.00 $42.00 $38.00 $42.00 Each 22500 (C) Parking In Safety Zone 101‐310‐4301 ACT90 $38.00 $42.00 $38.00 $42.00 Each 22500 (D) Within 15' Fire Station Driveway 101‐310‐4301 ACT90 $38.00 $42.00 $38.00 $42.00 Each 22500 (E) Parking In Driveway 101‐310‐4301 ACT90 $38.00 $42.00 $38.00 $42.00 Each 22500 (F) Parking On Sidewalk 101‐310‐4301 ACT90 $38.00 $42.00 $38.00 $42.00 Each 22500 (G) Obstruct Traffic @ Excavation 101‐310‐4301 ACT90 $38.00 $42.00 $38.00 $42.00 Each 22500 (H) Double Parking 101‐310‐4301 ACT90 $38.00 $42.00 $38.00 $42.00 Each 22500 (I) Parking In Bus Zone 101‐310‐4301 ACT90 $38.00 $42.00 $38.00 $42.00 Each 22500 (J) Parking In Tunnel 101‐310‐4301 ACT90 $38.00 $42.00 $38.00 $42.00 Each 22500 (K) Parking On Bridge 101‐310‐4301 ACT90 $38.00 $42.00 $38.00 $42.00 Each 22500 (L) Blocking Wheelchair Access 101‐310‐4301 ACT90 $333.00 $42.00 $333.00 $42.00 Each 22502 (A) Over 18" From Curb 101‐310‐4301 ACT90 $33.00 $42.00 $33.00 $42.00 Each22502 (E) Curb Parking/One‐Way Street 101‐310‐4301 ACT90 $30.00 $42.00 $30.00 $42.00 Each 22504 (A) Unincorporated Area Parking 101‐310‐4301 ACT90 $43.00 $42.00 $43.00 $42.00 Each 22505 (B) No Parking ‐ State Hwy 101‐310‐4301 ACT90 $48.00 $42.00 $48.00 $42.00 Each 22507.8 (A) Handicapped Space Without Placard 101‐310‐4301 ACT90 $333.00 $42.00 $333.00 $42.00 Each 22507.8 (B) Blocking Handicapped Space 101‐310‐4301 ACT90 $333.00 $333.00 $333.00 $333.00 Each 22507.8 (C) Hashmarks Handicap Zone 101‐310‐4301 ACT90 $333.00 $333.00 $333.00 $333.00 Each 22514 Fire Hydrants ‐ Within 15 Feet 101‐310‐4301 ACT90 $38.00 $38.00 $38.00 $38.00 Each 22515 Unattended Vehicle ‐ Engine Running 101‐310‐4301 ACT90 $33.00 $33.00 $33.00 $33.00 Each 22519 Posted For Patrons Only 101‐310‐4301 ACT90 $33.00 $33.00 $33.00 $33.00 Each 22522 Block Sidewalk Ramp 101‐310‐4301 ACT90 $333.00 $333.00 $333.00 $333.00 Each 22523 (A) Abandon Vehicle On Highway 101‐310‐4301 ACT90 $105.00 $105.00 $105.00 $105.00 Each 22523 A/B Abandoned Vehicle 101‐310‐4301 ACT90 $105.00 $105.00 $105.00 $105.00 Each 22523 (B) Abandon Vehicle ‐ Private Property 101‐310‐4301 ACT90 $105.00 $105.00 $105.00 $105.00 Each 22526 (A) Blocking Intersection 101‐310‐4301 ACT90 $53.00 $53.00 $53.00 $53.00 Each 22500.1
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416

AMOUNT AMOUNT
City of Half Moon Bay
Master Fee Schedule
Other Fees, Charges & Services
Fees are increased annually by the annual average CPI‐W San Francisco‐Oakland‐Hayward of the previous year ‐ (excluding Development Impact Fees and Public Safety) SERVICES CODING PREVIOUS FY 21‐22 FY 22‐23 UNIT / TYPE
22951 Park Lot ‐ Street & Alley 101‐310‐4301 ACT90 $25.00 $25.00 $25.00 $25.00 Each 22952 (A) Park Lot‐Tow/Removal 101‐310‐4301 ACT90 $40.00 $40.00 $40.00 $40.00 Each 22952 (B) Park Lot‐Tow/Removal 101‐310‐4301 ACT90 $40.00 $40.00 $40.00 $40.00 Each 23333 Stop/Park On Bridge 101‐310‐4301 ACT90 $43.00 $43.00 $43.00 $43.00 Each 23336 Violate Posted Signs 101‐310‐4301 ACT90 $40.00 $40.00 $40.00 $40.00 Each 28071 Bumper Required‐Fine Or P/C 101‐310‐4301 ACT90 $25.00 $25.00 $25.00 $25.00 Each 4000 (A) Unregistered Vehicle 101‐310‐4301 ACT90 $53.00 $53.00 $53.00 $53.00 Each 4462 (B) Registration On Wrong Vehicle 101‐310‐4301 ACT90 $30.00 $30.00 $30.00 $30.00 Each 4464 Altered License Plate 101‐310‐4301 ACT90 $30.00 $42.00 $30.00 $42.00 Each 5200 Lic Plate Missing ‐ Fine Or P/C 101‐310‐4301 ACT90 $35.00 $35.00 $35.00 $35.00 Each 5201 Plate Positioning ‐ Fine Or P/C 101‐310‐4301 ACT90 $30.00 $30.00 $30.00 $30.00 Each 5202 Period Of Display ‐ Fine Or P/C 101‐310‐4301 ACT90 $30.00 $30.00 $30.00 $30.00 Each 5204 (A) Tags Attach Wrong ‐ Fine Or P/C 101‐310‐4301 ACT90 $30.00 $30.00 $30.00 $30.00 Each 6 D.U.I. Cost Recovery
Arrest with Traffic Collision & Transportation 101‐310‐4303 Each ^
Citation fee amounts increase for two or more offenses. Applicable fees are stated on the violation notice. ^^ California Vehicle Code Fees are established by the State of California and are not escalated by the CPI All Urban Consumers/San Francisco‐Oakland‐San Jose IX. REFUND POLICY
Any request for Fee refunds shall be submitted in writing to the appropriate Department’s Director within 90 days from the date of submittal. The grounds for requesting a refund shall be detailed in the written request. However, once the City has commenced work on an applicable service for which a fee is charged, no refunds are allowed. The Department’s Director shall determine if a fee is refundable based on this criterion. Any refund will be net a processing fee equivalent to 0.5 hours of the Building Hourly Rate and any other incidentals that may be incurred. The party requesting the refund shall be informed in writing of the decision of the Department’s Director within ten (10) working days of receiving the written refund request. The requesting party may appeal the determination of the Department’s Director to the City Manager, within ten (10) days of mailing notice to the requesting party. The City Manager’s decision of the appeal review will be the final action taken by the City. $731.00 $749.00
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CITY OF HALF MOON BAY
Statistics
Image Coming Soon
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419
2020/21 USE CATEGORY SUMMARY

THE CITY OF HALF MOON BAY

BASIC PROPERTY VALUE TABLE
Category Parcels Assessed Value Net Taxable Value
Residential 3,812 $2,822,540,130 (79.8%) $2,769,600,677 (80.8%) Commercial 218 $489,035,556 (13.8%) $476,253,451 (13.9%) Industrial 15 $9,561,139 (0.3%) $9,561,139 (0.3%)
Agricultural 41 $30,797,928 (0.9%) $15,605,023 (0.5%)
Govt. Owned 98 $80,000 (0.0%) $0 (0.0%)
Institutional 21 $19,374,245 (0.5%) $1,689,318 (0.0%)
Miscellaneous 12 $16,274,069 (0.5%) $16,274,069 (0.5%)
Recreational 24 $35,715,468 (1.0%) $35,379,201 (1.0%)
Vacant 1,924 $74,234,137 (2.1%) $62,452,178 (1.8%)
Unsecured [236] $40,619,481 (1.1%) $39,825,394 (1.2%)
Unknown 1 $0 (0.0%) $0 (0.0%)
TOTALS 6,166 $3,538,232,153 $3,426,640,450

80.8%
Residential

13.9%
Commercial

5.3%
Others

NET TAXABLE VALUE

79.8%
Residential

13.8%
Commercial

2.1%
Vacant

4.3%
Others

ASSESSED VALUE
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Data Source: San Mateo County Assessor 2020/21 Combined Tax Rolls Prepared On 8/23/2021 By MV Draft
420

PROPERTY TAX DOLLAR BREAKDOWN

THE CITY OF HALF MOON BAY
$ 0.00330 County Harbor District
$ 0.00195 Bay Area, Air Pollution
$ 0.00041 Resource Conservation
$ 1.0000
$ 0.3591 Cabrillo Unified General Purpose
$ 0.09755 ERAF Share of San Mateo County
$ 0.1240 San Mateo County
$ 0.1869 Coastside Fire
$ 0.01122 ERAF Share of Half Moon Bay General Fund
$ 0.0553 Half Moon Bay General Fund
$ 0.0634 San Mateo Junior College General Purpose
$ 0.0330 County Education Tax
$ 0.0323 County Library
$ 0.0317 Coastside County Water
ATI (Annual Tax Increment) Ratios for Tax Rate Area 017-005, Excluding Redevelopment Factors & Additional Debt Service This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone Data Source: San Mateo County Assessor 2020/21 Annual Tax Increment Tables Prepared On 8/23/2021 By MV Draft
421
2020/21 ROLL SUMMARY

THE CITY OF HALF MOON BAY
Taxable Property Values
Secured Nonunitary Utilities Unsecured
1,680,801,185
1,797,599,716
16,782,769
2,429,002
Aircraft
Fixtures
Personal Property
Improvements
Land
TRAs
Parcels
Values
Total Value $3,497,612,672
0 $40,619,481
0 $0
0 0
11,182,762
25,071,686
4,248,415
116,618
7 236
0 0
0 0
6,166 0
8 Total Net Value $3,386,815,056
Total Exemptions* $110,797,616
Homeowners* 15,939,000
Aircraft
Fixtures 17,617
Personal Property 769,086
Real Estate 110,010,913
Exemptions
0 $794,087
$39,825,394
0 0
$0
0 $0
7,000
0 84,755
322,876
386,456
0 0
Combined Values Total
Total Values $3,538,232,153
Net Total Values
Total Exemptions
$3,426,640,450
$111,591,703
Net Aircraft Values $0
* Note: Homeowner Exemptions are not included in Total Exemptions Totals do not Include Aircraft Values or Exemptions
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Data Source: San Mateo County Assessor 2020/21 Combined Tax Rolls Prepared On 8/23/2021 By MV Draft
422

NET TAXABLE ASSESSED VALUE HISTORY

THE CITY OF HALF MOON BAY
2011/12 - 2020/21 Taxable Property Values
Lien Year Secured Unsecured SBE Nonunitary Net Total AV % Change 2011/12 $2,266,736,579 $40,476,099 $0 2,307,212,678
2012/13 $2,310,590,314 $37,048,774 $0 2,347,639,088 1.75% 2013/14 $2,336,930,963 $40,818,124 $0 2,377,749,087 1.28% 2014/15 $2,454,848,902 $42,658,908 $0 2,497,507,810 5.04% 2015/16 $2,609,284,214 $53,103,728 $0 2,662,387,942 6.60% 2016/17 $2,716,280,909 $39,462,822 $0 2,755,743,731 3.51% 2017/18 $2,868,900,977 $40,418,385 $0 2,909,319,362 5.57% 2018/19 $3,095,123,190 $44,156,277 $0 3,139,279,467 7.90% 2019/20 $3,261,227,148 $40,695,317 $0 3,301,922,465 5.18% 2020/21 $3,386,815,056 $39,825,394 $0 3,426,640,450 3.78% Average % Change 4.93%
$0
$500,000,000
$1,000,000,000
$1,500,000,000
$2,000,000,000
$2,500,000,000
$3,000,000,000
$3,500,000,000
2011/122012/132013/142014/152015/162016/172017/182018/192019/202020/21 SBE Nonunitary Unsecured Secured
* Net AV changes less than two percent are in purple font. Negative Net AV percent changes are in red.

This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone Data Source: San Mateo County Assessor 0/ - 2020/21 Combined Tax Rolls Prepared On 8/23/2021 By MV Draft
423

ASSESSED VALUE OF TAXABLE PROPERTY

THE CITY OF HALF MOON BAY
2011/12 - 2020/21 Taxable Property Values
2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 Residential 1,807,548,717 1,847,817,296 1,871,838,949 1,986,554,631 2,128,750,156 2,238,878,627 2,365,335,848 2,496,961,916 2,652,141,529 2,769,600,677 Commercial 330,355,442 333,127,837 344,198,890 346,707,418 356,041,843 363,813,823 372,002,147 457,418,903 467,790,599 476,253,451 Industrial 5,901,115 6,016,889 6,133,649 6,172,772 6,292,015 6,801,114 7,185,938 8,419,613 9,374,259 9,561,139 Agricultural 17,322,251 16,208,520 15,605,023
Dry Farm 10,559,490 11,427,110 3,720,127 3,496,499 3,786,377 4,241,537 4,358,514 Govt. Owned 0 0 0
Institutional 260,279 265,484 293,694 272,021 277,456 281,685 309,882 315,819 298,922 1,689,318 Irrigated 6,116,088 4,368,007 3,423,600 4,862,761 5,333,856 4,324,786 4,411,271 Miscellaneous 12,953,724 20,894,204 12,075,286 22,681,808 23,460,537 14,211,644 17,677,501 16,786,985 15,398,633 16,274,069 Recreational 37,455,517 38,043,156 38,699,751 38,874,879 39,568,823 40,290,547 41,062,725 42,118,338 43,356,325 35,379,201 Vacant 50,669,067 48,630,331 50,679,666 45,226,113 45,773,151 43,437,146 56,557,151 55,779,365 56,658,361 62,452,178 Unsecured 40,476,099 37,048,774 40,818,124 42,658,908 53,103,728 39,462,822 40,418,385 44,156,277 40,695,317 39,825,394 Unknown 4,917,140 5,867,351 0
TOTALS 2,307,212,678 2,347,639,088 2,377,749,087 2,497,507,810 2,662,387,942 2,755,743,731 2,909,319,362 3,139,279,467 3,301,922,465 3,426,640,450 Total Direct Rate 0.05426 0.05453 0.05452 0.05818 0.05818 0.05819 0.05819 0.05821 0.05821 0.05821 Category
Notes:

Exempt values are not included in Total.

In 1978 the voters of the State of California passed Proposition 13 which limited taxes to a total maximum rate of 1%, based upon the assessed value of the property being taxed. Each year, the assessed value of property may be increased by an "inflation factor" (limited to a maximum of 2%). With few exceptions, property is only reassessed as a result of new construction activity or at the time it is sold to a new owner. At that point, the property is reassessed based upon the added value of the construction or at the purchase price (market value) or economic value of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above.

This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone Data Source: San Mateo County Assessor 2011/12 - 2020/21 Combined Tax Rolls Prepared On 8/23/2021 By MV Draft
424
Top Property Owners Based On Net Values

THE CITY OF HALF MOON BAY
2020/21 TOP TEN PROPERTY TAXPAYERS
Owner Secured Unsecured Combined Primary Use &
Parcels Value Parcels Value Value Primary Agency % of
Net AV
% of
Net AV
% of
Net AV
1) 2 $211,525,320 1 $11,000 $211,536,320
Commercial

6.25% 0.03% 6.17%
Half Moon Bay General Fund (Pending Appeals On Parcels)

SHC HALF MOON BAY LLC
2) 18 $34,209,177 $34,209,177
Recreational

1.01% 1.00%
Half Moon Bay General Fund

OCEAN COLONY PARTNERS LP
3) 3 $30,171,600 $30,171,600
Commercial

0.89% 0.88%
Half Moon Bay General Fund

HMB MUSICH LLC
4) 29 $21,213,068 2 $54,117 $21,267,185
Commercial

0.63% 0.14% 0.62%
Half Moon Bay General Fund

KEET NERHAN
5) 8 $12,455,340 $12,455,340
Commercial

0.37% 0.36%
Half Moon Bay General Fund

PROFESSIONAL PENINSULA PROPERTIES LLC
6) 13 $11,489,317 $11,489,317
Vacant

0.34% 0.34%
Half Moon Bay General Fund

DINO E ANDREOTTI JR
7) 1 $10,899,509 $10,899,509
Commercial

0.32% 0.32%
Half Moon Bay General Fund

IWF HALF MOON BAY LLC
8) 1 $9,076,188 $9,076,188
Commercial

0.27% 0.26%
Half Moon Bay General Fund

LONGS DRUG STORE INC
9) 3 $8,049,717 $8,049,717
Commercial

0.24% 0.23%
Half Moon Bay General Fund

CASTRO PARTNERS LLC
10) 1 $7,348,821 $7,348,821
Commercial

0.22% 0.21%
Half Moon Bay General Fund

STAY CAL HMB LLC LESSEE
Top Ten Total 79 $356,438,057 10.52% 3 $65,117 0.16% $356,503,174 10.40% City Total $3,386,815,056 $39,825,394 $3,426,640,450
Top Owners last edited on 8/20/21 by MaheaV using sales through 06/30/21 (Version R.1) This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone Data Source: San Mateo County Assessor 2020/21 Combined Tax Rolls and the SBE Non Unitary Tax Roll Prepared On 8/23/2021 By MV Draft
425
Top Property Owners Based On Net Values

THE CITY OF HALF MOON BAY
2011/12 TOP TEN PROPERTY TAXPAYERS
Owner Secured Unsecured Combined Primary Use &
Parcels Value Parcels Value Value Primary Agency % of
Net AV
% of
Net AV
% of
Net AV
1) 2 $134,790,621 $134,790,621
Commercial

5.95% 5.84%
Half Moon Bay General Fund (Pending Appeals On Parcels)

SHC HALF MOON BAY LLC
2) 39 $22,661,141 1 $176,579 $22,837,720
Recreational

1.00% 0.44% 0.99%
Half Moon Bay General Fund

OCEAN COLONY PARTNERS LP
3) 34 $22,377,835 2 $76,552 $22,454,387
Commercial

0.99% 0.19% 0.97%
Half Moon Bay General Fund
KEET S. NERHAN
4) 2 $19,643,292 1 $121,468 $19,764,760
Recreational

0.87% 0.30% 0.86%
Half Moon Bay General Fund

SOUTH WAVECREST LLC
5) 3 $13,971,810 $13,971,810
Commercial

0.62% 0.61%
Half Moon Bay General Fund

REGENCY CENTERS LP
6) 5 $12,892,044 $12,892,044
Commercial

0.57% 0.56%
Half Moon Bay General Fund

FRANCESCO CARRUBBA
7) 6 $10,939,276 $10,939,276
Dry Farm

0.48% 0.47%
Half Moon Bay General Fund
2651 NORTH CABRILLO HIGHWAY LLC
8) 1 $10,000,036 $10,000,036
Unsecured

24.71% 0.43%
Half Moon Bay General Fund

COMCAST OF CALIFORNIA COMPANY WA LP
9) 1 $9,910,586 $9,910,586
Commercial

0.44% 0.43%
Half Moon Bay General Fund

LONGS DRUG STORE INC
10) 1 $9,174,271 $9,174,271
Commercial

0.40% 0.40%
Half Moon Bay General Fund

IWF HALF MOON BAY LP
Top Ten Total 93 $256,360,876 11.31% 5 $10,374,635 25.63% $266,735,511 11.56% City Total $2,266,736,579 $40,476,099 $2,307,212,678
Top Owners last edited on 7/19/12 by NicholeC using sales through 06/15/12 (Version th.0) This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone Data Source: San Mateo County Assessor 2011/12 Combined Tax Rolls and the SBE Non Unitary Tax Roll Prepared On 8/23/2021 By MV Draft
426

DIRECT & OVERLAPPING PROPERTY TAX RATES
(RATE PER $100 OF TAXABLE VALUE)

THE CITY OF HALF MOON BAY
Last 10 Fiscal Years
Agency 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 Basic Levy¹ 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 Cabrillo Unified Bond 0.05220 0.07220 0.07190 0.07040 0.07260 0.08320 0.07510 0.07110 0.11510 0.08950 Mid-Penninsula Regional Open Space 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00160 0.00150 San Mateo Community College 2005 Series B 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00350 0.00370 San Mateo Junior College 0.01990 0.01940 0.01940 0.01900 0.02500 0.02470 0.02350 0.01750 0.02310 0.01760 Total Direct & Overlapping² Tax Rates 1.07210 1.09160 1.09130 1.08940 1.09760 1.10790 1.09860 1.08860 1.14330 1.11230 City's Share of 1% Levy Per Prop 13³ 0.05459 0.05465 0.05463 0.05525 0.05525 0.05525 0.05525 0.05526 0.05526 0.05526 Voter Approved City Debt Rate
Redevelopment Rate⁴
Total Direct Rate⁵ 0.05426 0.05453 0.05452 0.05818 0.05818 0.05819 0.05819 0.05821 0.05821 0.05821 Notes:
¹In 1978, California voters passed Proposition 13 which set the property tax rate at a 1.00% fixed amount. This 1.00% is shared by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount, property owners are charged taxes as a percentage of assessed property values for the payment of any voter approved bonds. ²Overlapping rates are those of local and county governments that apply to property owners within the City. Not all overlapping rates apply to all property owners. ³City's Share of 1% Levy is based on the City's share of the general fund tax rate area with the largest net taxable value within the City. The ERAF portion of the City's Levy has been subtracted where known.
⁴Redevelopment Rate is based on the largest RDA tax rate area and only includes rate(s) from indebtedness adopted prior to 1989 per California State statute. RDA direct and overlapping rates are applied only to the incremental property values. The approval of ABX1 26 eliminated Redevelopment from the State of California for the fiscal year 2012/13 and years thereafter. ⁵Total Direct Rate is the weighted average of all individual direct rates applied by the City/Agency preparing the statistical section information and excludes revenues derived from aircraft. Beginning in 2013/14 the Total Direct Rate no longer includes revenue generated from the former redevelopment tax rate areas. Challenges to recognized enforceable obligations are assumed to have been resolved during 2012/13. For the purposes of this report, residual revenue is assumed to be distributed to the City/Agency in the same proportions as general fund revenue.

This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone Data Source: San Mateo County Assessor 2011/12 - 2020/21 Tax Rate Table Prepared On 8/23/2021 By MV Draft
427

DEMOGRAPHIC AND ECONOMIC STATISTICS

THE CITY OF HALF MOON BAY
Median Age
% of Pop 25+ with
High School Degree
% of Pop 25+ with
Bachelor's Degree
Personal Income
(In Thousands)
Calendar
Year Population
Unemployment
Rate
Per Capita
Personal Income
2011 11,478 $498,019 $43,389 8.1% 42.1 83.4% 40.2%
2012 11,581 $537,926 $46,449 5.2% 42.9 83.0% 42.2%
2013 11,721 $569,699 $48,605 4.3% 43.2 82.5% 44.2%
2014 11,727 $600,059 $51,169 4.1% 44.8 82.4% 45.3%
2015 12,528 $640,547 $51,129 3.3% 44.7 84.0% 47.3%
2016 12,591 $677,251 $53,788 2.9% 45.8 83.8% 46.7%
2017 12,639 $796,455 $63,015 2.3% 47.1 85.8% 48.3%
2018 12,631 $810,881 $64,197 1.6% 47.3 84.9% 45.5%
2019 12,431 $804,495 $64,716 1.6% 45.3 87.1% 47.5%
2020 12,309 $898,800 $73,019 5.6% 46.8 86.2% 50.3%
40,000
44,000
48,000
52,000
56,000
60,000
64,000
68,000
72,000
76,000
0 1
2 3
4 5
6 7
8 9
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Per Capita Pers Income Unemployment Rate
Per Capita Personal Income
Unemployment Rate
Personal Income and Unemployment
0 2,000
4,000
6,000
8,000
10,000
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Less Than High School High School Graduate College Graduate Population
Education Level Attained for Population 25
and Over
Notes and Data Sources:

Population: California State Department of Finance. Unemployment Data: California Employment Development Department 2000-2009 Income, Age, and Education Data: ESRI - Demographic Estimates are based on the last available Census. Projections are developed by incorporating all of the prior census data released to date. Demographic Data is totaled from Census Block Groups that overlap the City's boundaries 2010 and later - Income, Age and Education Data - US Census Bureau, most recent American Community Survey This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone Prepared On 8/23/2021 By MV Draft
428

SALES VALUE HISTORY

THE CITY OF HALF MOON BAY
Single Family Residential Full Value Sales (01/01/2019 - 6/30/2021) Year Full Value Sales Average Price Median Price Median % Change 2019 129 $1,253,841 $1,200,000
2020 166 $1,466,910 $1,400,000 16.67%
2021 78 $1,542,013 $1,400,000 0.00%
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
201920202021
Median Price Avg Price
Year
Sales Price
*Sales not included in the analysis are quitclaim deeds, trust transfers, timeshares, and partial sales.

This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Data Source: San Mateo County Recorder Prepared On 8/23/2021 By MV Draft
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CITY OF HALF MOON BAY
Budget and Acronym
Glossaries
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Budget Glossary

ACTIVITIES
Specific services performed in accomplishing program objectives and goals (see Program).

ACCRUAL
A method of accounting to record revenues when earned and expenses when incurred.

ACTUAL
A column heading in the budget. Figures found in the Actual column indicate actual financial information recorded for that time period.

ADJUSTED BUDGET
The increase or decrease of the amount budgeted for a program or account.

ADOPTED BUDGET
This is the budget that is adopted by the City Council after reviewing and providing feedback and direction on the recommended budget at one or more budget study sessions.

AGENCY FUNDS
Also known as Fiduciary Fund Types, these funds are used to account for assets held by the City in a trustee capacity or as an agent for private individuals, organizations, or other governmental agencies. The fiduciary funds used by the City include agency funds. Agency funds are custodial in nature (assets equal liabilities) and do not measure the results of operations.

APPROPRIATION
An authorization made by the City Council which permits the City to incur obligations and to make expenditures of resources in providing services as planned.

APPROPRIATION LIMIT
Propositions 4 and 111 created a restriction on the amount of revenue which can be appropriated in any fiscal year. The Limit is based on actual appropriations during the 1978-79 fiscal years, and is increased each year using the growth of population and inflation. Not all revenue is restricted by the limit; only those which are referred to as "proceeds of taxes." Some examples of proceeds of taxes are sales tax, property tax, and business license tax.

ASSESSED VALUE
A value established for real property for use as a basis in levying property taxes. For all agencies in the State of California, assessed value is established by the County for the secured and unsecured property tax rolls. The utility property tax roll is valued by the State Board of Equalization. Under Article XIII of the State Constitution (Proposition 13 adopted by the voters on June 6, 1978) properties are assessed at 100% of full value. Proposition 13 also modified the value of real taxable property for fiscal year 1979 by rolling back values to fiscal year 1976 Draft
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levels. From this base of assessment, subsequent annual increases in valuation are limited to a maximum of 2%. However, increases to full value are allowed for property improvements or upon change in ownership. Personal property is excluded from these limitations and is subject to annual reappraisal. Property taxes for general purposes cannot exceed 1% of assessed value.

AUDIT
Conducted by an independent certified public accountant (CPA), the primary objective of an audit is to determine if the City's financial statements present fairly the City’s financial position and results of operations in conformity with Generally Accepted Accounting Principles (GAAP) and Governmental Accounting Standards for Comprehensive Annual Financial Reporting. In conjunction with their performance of an audit, the auditing standards require an independent auditor to report to the City Council of audit findings on adequacy of the City’s internal controls as well as recommendation and improvements to the City's financial management practices.

BALANCED BUDGET
A balanced budget is a situation in financial planning or the budgeting process where total revenues are equal to or greater than total expenses.

BEGINNING/ENDING FUND BALANCE
Appropriated resources available in a fund from the prior/current year after payment of the prior/current fiscal year’s expenses. This is not necessarily cash on hand.

BONDS
Bonds are a form of borrowing (debt financing) which reflects a written promise from the City to repay a sum of money on a specific date at a specified interest rate. Local governments use bonds to obtain long-term financing for large capital projects such as buildings, streets, utility infrastructure, and bridges.

BUDGET
A budget is a financial plan for a specified period of time that matches planned revenue and expenditures to municipal services, goals and, objectives. The City uses a financial plan covering a fiscal year (July 1 through June 30), with actual budget appropriations made annually.

BUDGET AMENDMENT
The City Council has the sole responsibility for adopting the City's budget and may amend or supplement the budget at any time after adoption by majority vote. The City Manager has the authority to approve administrative adjustments to the budget as long as those changes are between objects, as well as departments, within the same fund category.

BUDGET CALENDAR
A budget calendar is the schedule of budget preparations, hearings, and adoption of the annual budget.

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BUDGET POLICIES
Budget policies are general and specific guidelines, developed by the City Manager in consultation with the City Council, that govern financial plan preparation and administration.

Departments make their budget requests on the basis of the guidelines.

CAPITAL IMPROVEMENT PLAN (CIP)
Commonly, a CIP is a five-year plan providing for the maintenance or replacement of existing public facilities and assets and for building or acquiring new ones.

CONTINGENCY
A contingency is a budgetary reserve set aside for emergencies or unforeseen expenditures not otherwise budgeted.

CONTRACTUAL SERVICES
Services rendered to a government by private firms, individuals, or other governmental agencies are contractual services. Examples include public safety services, recreation services, utilities, maintenance agreements, and professional consulting services.

DEBT
A state of being under obligation to pay or repay someone or something.

DEBT INSTRUMENT
Debt instruments are methods of borrowing funds, including, but not limited to, general obligation bonds, judgment obligation bonds, revenue bonds, lease/purchase agreements, lease-revenue bonds, and assessment district bonds.

DEBT SERVICE
Debt service is the payment of principal and interest on bonds and other debt instruments according to a pre-determined schedule.

DEBT SERVICE FUNDS
The debt service fund type is used to account for the payment and accumulation of resources related to general long-term debt principal and interest (see Fund).

DEFICIT
A deficit is the excess of an entity’s liabilities over its assets or the excess of expenditures over revenue during a single accounting period.

DEPARTMENT
A department is a major organizational unit of the City which has been assigned overall management responsibility for an operation or a group of related operations within a functional area.

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DEPRECIATION
Depreciation is the expiration in the service life of capital assets attributable to wear and tear, deterioration, action of physical elements, inadequacy, or obsolescence.

DEVELOPMENT IMPACT FEES
Fees placed on the development of land or conditions required for the approval of a development project such as the donation of certain land (or money) to specific public uses.

The fees are justified as an offset to the future impact that development will have on existing infrastructure.

ENTERPRISE FUNDS
The enterprise fund type is used to account for operations that are financed and operated in a manner similar to private sector enterprises and it is the intent of the City that the costs (including depreciation) of providing goods or services to the general public be financed or recovered primarily through user fees. The City accounts for Sewer Operations as an Enterprise Fund (see Fund).

EXPENDITURE
An expenditure is the outflow of funds paid or to be paid for an asset obtained or goods and services obtained regardless of when the expense is actually paid. This term applies to all funds.

Note: An encumbrance is not an expenditure, but a commitment. An encumbrance reserves funds to be expended in future periods.

EXPENDITURE SAVINGS
Under the City's budgeting procedures, personnel cost projections are based on all positions being filled throughout the year. Cost projections for major supply purchases and service contracts are projected on a similar basis. However, past experience indicates that expenditures are consistently less than budgeted amounts, due at least in part to this costing methodology. Accordingly, the expenditure savings category is used to account for this factor in preparing fund balance projections.

FEES
Charges for services levied by the City to recover costs associated with providing a service or permitting an activity.

FISCAL YEAR (FY)
A fiscal year is a designated twelve-month period for budgeting and record keeping purposes.

As a general law city, July 1 to June 30 is specified as the fiscal year.

FIXED ASSETS
Assets of long-term nature such as land, buildings, roads, bridges, and related infrastructure, machinery, furniture, and other equipment are fixed assets. The City has defined such assets as roads, bridges and related infrastructure with an expected life in excess of one year and an acquisition cost in excess of $5,000.

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FULL-TIME EQUIVALENT
The ratio of the total number of paid hours during a period (part time, full time, contracted) by the number of working hours in that period Mondays through Fridays.

FUNCTION
A group of related programs crossing organizational (departmental) boundaries and aimed at accomplishing a broad goal or accomplishing a major service are functions.

FUND
A fund is a fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances, for specific activities or government functions. The six fund types used by the City are: General Fund, Special Revenue, Debt Service, Capital Project, Enterprise, and Agency Funds.

FUND BALANCE
Also known as financial position, fund balance for governmental fund types is the excess of fund assets over liabilities, and represents the cumulative effect of revenue and other financing sources over expenditures and other financing uses. For the enterprise funds, the term used is “net asset,” a comparable (although not exact) financial position concept as fund balance (see Working Capital).

GAAP
GAAP stands for Generally Acceptable Accounting Principles. These are uniform minimum standards for financial accounting and recording, encompassing the conventions, rules, and procedures that define accepted accounting principles.

GASB
GASB stands for Governmental Accounting Standards Board. The accounting profession’s regulatory body for governmental accounting and determines what constitutes GAAP for governmental agencies.

GANN LIMIT
An absolute dollar limit on the amount of funds derived from taxes that the City can legally appropriate and expend each fiscal year, as specified by Article 13-B of the State Constitution. Any tax revenues in excess of the Gann Limit must be returned to taxpayers. The base-year used on computing the Gann Limit is FY1978-79, with adjustments to the appropriations limit allowed succeeding fiscal years for changes in population and changes in the cost of living.

GENERAL FUND
The general fund is the primary operating fund of the City. All revenue that are not allocated by law or contractual agreement to a specific fund are accounted for in the General Fund. With the exception of subvention or grant revenue restricted for specific uses, General Fund resources can be utilized for any legitimate governmental purpose (see Fund).

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GOAL
A goal is a statement of broad direction, purpose, or intent.

GOVERNMENTAL FUND
Government funding refers to financial assistance received by non-government entities in the form of federal, state, or local government grants, loans, loan guarantees, property, cooperative agreements, food commodities, direct appropriations, or other assistance.

GRANT
Contribution or gift of cash or other assets from another governmental entity to be used or expended for a specific purpose, activity, or facility.

INTERFUND TRANSFER
The movement of monies between funds of the same governmental entity is an interfund transfer.

INVESTMENT REVENUE
Investment revenue is received as interest from the investment of funds not immediately required to meet cash disbursement obligations.

LINE ITEM BUDGET
A line item budget lists detailed expenditure categories (salary, materials and supplies, telephone service, travel, etc.) separately, along with the amount budgeted for each specified category. The City uses a line-item detail to maintain and record for financial reporting and control purposes.

MATERIALS AND SUPPLIES
Expendable materials and operating supplies are necessary to conduct departmental operations.

MISSION STATEMENT
A mission statement provides policy guidance and direction for the highest priority objectives to be accomplished.

MODIFIED ACCRUAL BASIS OF ACCOUNTING
The modified accrual basis of accounting is used in conjunction with the current financial resources measurement focus. Revenue is recognized when they are available and measurable.

Expenditures are recognized when goods and services are received.

OBJECT OF EXPENDITURE
Object of expenditure is a classification referring to the lowest and most detailed level of classification, such as electricity, office supplies, and contract services.

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OPERATING BUDGET
The operating budget is the portion of the budget that pertains to daily operations providing basic governmental services. The program budgets in the financial plan form the operating budget.

OPERATIONS
Operations are a grouping of related programs within a functional area (see Function and Program).

PERFORMANCE MEASURES (OBJECTIVES)
Performance measures are a statement of specific direction, purpose, or intent based on the needs of the community and the goals established for a specific program. Performance measures are clearly stated objectives that are measurable in quantitative terms.

PROGRAM
Programs are group activities, operations, or organizational units directed to attaining specific purposes or objectives.

RESERVE
A reserve is an account used to indicate that a portion of a fund's balance is legally restricted for a specific purpose or designated by the City Council and is, therefore, not available for general appropriation.

RESERVE DRAW DOWN
Reserve draw down refers to the amount of fund balance required as a funding source to balance fund budgets where appropriations exceed current revenue. If current revenue exceed appropriations, the fund balance will increase and be referred to a reserve improvement.

RESOLUTION
A resolution is a special or temporary order of a legislative body. It is an order of a legislative body requiring less legal formality than an ordinance or statue.

RESOURCES (SOURCES)
Resources are total amounts available for appropriation, including estimated revenue, borrowing proceeds, fund transfers, and beginning balances.

SPECIAL REVENUE FUNDS
A special revenue fund type is used to account for the proceeds from specific revenues sources (other than trusts or capital funds) that are legally restricted to expenditures for specific purposes (see Fund).

STRUCTURAL BALANCE
The structural or underlying fiscal balance is the relationship between government ongoing revenues and ongoing expenditures.

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SUBVENTIONS
Subventions are revenue collected by the State (or other level of government) which is allocated to the City on a formula basis. The major subventions received by the City from the State include motor vehicle in-lieu and gasoline taxes.

WORKING CAPITAL
Working capital is the excess of current assets over current liabilities.

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Acronym Glossary

ACRONYM DEFINITION
AB Assembly Bill
ABAG Association of Bay Area Governments
ADA Americans with Disabilities Act
BID Business Improvement District
C/CAG City/County Association of Governments
CAFR Comprehensive Annual Financial Report
CALPERS California Public Employees Retirement System
CCWD Coastside County Water District
CEQA California Environmental Quality Act
CIP Capital Improvement Program
COPS Community-Oriented Policing Services
CPI-U Consumer Price Index - All Urban Consumers
CSAC California State Association of Counties
CSO Community Service Officer
DOC Department Operations Center
EOC Emergency Operations Center
ERAF Educational Revenue Augmentation Fund
FDIC Federal Deposit Insurance Corporation
FICA Federal Insurance Contribution Act
FPPC Fair Political Practices Commission
FSLIC Federal Savings and Loan Insurance Corporation
FTO Field Training Officer
GAAP Generally Accepted Accounting Principles
GASB Government Accounting Standards Board
GF General Fund
GFOA Government Finance Officers Association
GIS Geographic Information System
HOPTR Homeowner Property Tax Relief
I&I Infiltration and Inflow
IT Information Technology
JOB Judgment Obligation Bonds
JPA Joint Powers Authority
LAIF Local Agency Investment Fund
LCP Local Coastal Plan
LTD Long-Term Disability
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ACRONYM DEFINITION
MTC Metropolitan Transportation Commission
NACSLB National Advisory Council on State and Local Budgeting NEPA National Environmental Policy Act
NPDES National Pollutant Discharge Elimination System
OPEB Other Post-Employment Benefits
PMS Pavement Management System
POST Peace Officer Standards and Training
RDA Redevelopment Agency
SAM Sewer Authority Mid-Coastside
SB Senate Bill
SLESF Supplemental Law Enforcement Services Funds
SMC San Mateo County
SR2S Safe Routes to School
SRO School Resource Officer
STIP Statewide Transportation Improvement Plan
TDA Transportation Development Act
TOT Transient Occupancy Tax
VLF Vehicle License Fee
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Back Cover
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Half Moon Bay City CouncilJune 7, 2022

Half Moon Bay City Council
June 7, 2022