Los Altos Hills City Council
February 16, 2023

1 City Council Regular Meeting Agenda
February 16, 2023

NOTICE TO PUBLIC
Any writings or documents provided to a majority of the City Council regarding any item on the open session portion of this agenda will be made available for public inspection in the City Clerk’s office located at 26379 Fremont Road, Los Altos Hills, California during normal business hours. These materials will also be made available on the City website at www.losaltoshills.ca.gov subject to Staff’s ability to post the documents before the meeting.

Revision No. 1 – Distributed on Monday, February 13, 2023 NOTE: To protect our constituents, Town officials, and Town staff, the Town requests all members of the public follow the guidance of the California Department of Health Services', and the County of Santa Clara Health Officer Order, to help control the spread of COVID-19. Additional information regarding COVID-19 is available on the City's website at www.losaltoshills.ca.gov This City Council meeting will be conducted pursuant to the provisions of Assembly Bill 361 and Government Code Section 54953(e) (and without compliance with section 54953(b)(3)) related to conducting public meetings during the COVID-19 pandemic. The City Council, staff and members of the public may participate in the meeting virtually via Zoom Video Conference or in person at Town Hall, 26379 Fremont Road, Los Altos Hills, California.

The City Council meeting will be live-streamed on the Town’s website and via zoom at the following location:
https://bit.ly/Feb16CCMeetingLAH
Meeting ID: 889 6817 7469
Passcode: 94022
Phone: 669 900 6833
Members of the public may attend the meeting in person at the Los Altos Hills City Council Chambers. If attending in person, face coverings for persons who are not vaccinated, and physical distancing will be required until further notice. Public comment will also be accepted via email at [email protected] prior to the start of the meeting. Written comments will be posted on the website and distributed to the Council. If you choose to email your comments, please indicate in the subject line “FOR PUBLIC COMMENT” and indicate the item number.

Public testimony will be taken at the direction of the Mayor and members of the public may only comment during times allotted for public comments.

Town of Los Altos Hills
City Council Regular Meeting Agenda

REVISED
Thursday, February 16, 2023 at 6:00 p.m.

Council Chambers, 26379 Fremont Road
Los Altos Hills, California

2 City Council Regular Meeting Agenda
February 16, 2023
CALL TO ORDER (6:00 P.M.)
A. Roll Call
B. Pledge of Allegiance

1. AGENDA REVIEW

2. PRESENTATIONS AND APPOINTMENTS
A. Appointment to the Los Altos Hills Emergency Preparedness and Response Committee B. Appointments to the Los Altos/Los Altos Hills Joint Community Volunteer Awards Committee
C. Appointment to the Los Altos Hills Environmental Initiatives Committee D. Reappointment and Appointment to the Los Altos Hills Pathways Committee E. Reappointment to the Los Altos Hills Parks and Recreation Committee F. Presentation by Greenwaste Executive Staff on How Recyclable Material is Handled in Los Altos Hills
G. Presentation by the City Manager on the EOC Drill Conducted on February 1, 2023 H. Presentation and Report on the Town’s Inaugural TEDx Los Altos Hills

3. PRESENTATIONS FROM THE FLOOR
Persons wishing to address the Council on any subject not on the agenda may do so now. Please complete a Speaker Card located on the back table of the Council Chambers and submit it to the City Clerk. Comments are limited to two (2) minutes per speaker. California law prohibits the Council from acting on items that do not appear on the agenda. Under a Resolution previously adopted by the Council, such items can be referred to staff for appropriate action, which may include placement on the next available agenda.

4. CONSENT CALENDAR
A. Approval of Special City Council Meeting Minutes – January 24, 2023 B. Approval of Special City Council Meeting Minutes – January 25, 2023 C. Approval of Special City Council Meeting Minutes – January 30, 2023 D. Approval of Special City Council Meeting Minutes – February 7, 2023 E. Review of Disbursements: January 1-31, 2023 $1,254,782.55 F. Approval of Treasurer’s Report for the Month Ended December 31, 2022 (Staff: S.

Revillar)

3 City Council Regular Meeting Agenda
February 16, 2023
G.Receive Quarterly Investment Portfolio Report – Quarter Ending December 31, 2022 (Staff: S. Revillar)
H.Resolution Adopting the Revised Investment Policy (Staff: S. Revillar) I. Response to the Grand Jury Final Report on Show Me the Money: Financial Transparency Needed (Staff: S. Revillar)
J. Resolution Approving Changes to the Job Description for Planning Director; Resolution Approving Amending the City Council Employee Classification and Compensation Plan on the Salary Schedule and Approve a 3-Year Retention Bonus (Staff: S. Revillar) K.Resolution Approving and Authorizing the City Manager to Execute an Agreement for Professional Recruiting Services for the Community Development Classification in an amount not to exceed $30,000 and Appropriate $30,000 from the Unreserved General Fund (Staff: S. Revillar)
L. Motion to Re-Authorize Remote Teleconference Meetings of the Town of Los Altos Hills, Including the Planning Commission and Committees, due to the Imminent Risks to the Health and Safety of Attendees and Making Related Findings Pursuant to AB 361 (Staff:

S. Mattas)
M. Adoption of Ordinance 608 (Second Reading) Amending Title 2, Chapter 6 of the Los Altos Hills Municipal Code Adding Conflict of Interest Designations(Staff: S. Mattas) – Motion to Waive Reading and Adopt the Ordinance
N. Resolution Approving the City Council Work Plan for 2023 (Staff: C. Einfalt) O. Approval for the Mayor to Sign a Letter to League of California Cities regarding Dues and Representation (Staff: S. Mattas)
P. Resolution Approving a Change Order with Syserco for the Construction of a Fence for the Battery Energy Storage System in the Amount of $24,750 (Staff: C. Einfalt) Q. Resolution Authorizing the City Manager to Enter into a Construction Agreement with Express Plumbing, Inc. for Emergency Sewer Main Repair/Replacement at Adobe Creek for a Total Amount Not to Exceed $85,000 Including Contingency (Staff: D.

Liang)
R. Resolution Authorizing the City Manager to Auction, Transfer, Donate, or Recycle/Dispose Surplus Vehicles and Equipment (Staff: W. Kim) S. Resolution Approving and Authorizing the Execution of Amendment No. 1 to the Employment Agreement with Peter Pirnejad for City Manager Services (Staff: S.

Mattas)

4 City Council Regular Meeting Agenda
February 16, 2023
T. Proclaiming May 2023 as Asian American and Pacific Islander (AAPI) Month (Staff:

D. Padovan)
U. Request for the Mayor to Sign a Letter to the VTA in Support of Santa Clara County Roads and Airports Bike/Ped Planning Studies Grant Application for Foothill Expressway (Staff: D. Padovan)
V. Resolution Revising the Existing Tripepi Smith Agreement to Increase the not exceed amount to $50,000 for Media and Communication Services (Staff: P. Pirnejad) – added with Revision No. 1.

5. ONGOING BUSINESS
A. Resolution Approving the One-Year Review of the Automatic License Plate Reader Pilot Program and Receiving Council Direction on Continued use of the System in Town (Staff:

C. Einfalt)

6. NEW BUSINESS
A. Receive 2022-23 Mid-Year Financial Report and Adopt a Resolution Approving the MidYear Budget Appropriations (Staff: S. Revillar)

7. PUBLIC HEARINGS
 City Council Ex Parte Contacts Policy Disclosure
A. Resolution Adopting the FY 2022-23 Planning and Building Fee Schedule and Determination that the Proposal does not Qualify as a Project under the California Environmental Quality Act (Staff: Planning)

8. STAFF REPORTS
A. City Attorney - Brown Act Meeting Procedures Update
B. City Clerk
C. Planning/Building Director
D. Administrative Services Director
E. Public Works Director
F. City Manager

9. REPORTS FROM COUNCIL LIAISONS ON STANDING COMMITTEES, AD HOC

COMMITTEES, AND COUNCIL MEMBERS ON OUTSIDE AGENCIES
A. Report by the Undergrounding Subcommittee (Mayor Tyson) B. Report from the Council Ad Hoc Committee Focusing on Broadband (Councilmembers Mok and Tankha)

5 City Council Regular Meeting Agenda
February 16, 2023
C. Report and Possible Action from the Council Ad Hoc Committee to Review the Our Town Newsletter (Councilmember Schmidt/Mayor Swan)
D. Status Reports from All Councilmembers on Committee Liaison Assignments and Outside Agencies Activities

10. COUNCIL INITIATED
A. Discussion on the Rise of Residential Burglaries in the Town and the City Council’s Response (Councilmember Tankha)

11. ADJOURN
Pursuant to Ordinance No. 506, the Council Meeting shall adjourn no later than 10:00 p.m., unless otherwise approved by a majority of the Councilmembers present.

ASSISTANCE FOR PERSONS WITH DISABILITIES
In compliance with the Americans with Disabilities Act, if you need special assistance to participate in the meeting, please contact the City Clerk at 650-941-7222. Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting.

Copies of all agenda reports and supporting data are available for inspection at Town Hall, 26379 Fremont Road 72 hours in advance of the meeting.

A complete agenda can be found on the Town’s webpage: http://www.losaltoshills.ca.gov. A complete packet of information is available for inspection during the meeting at the table to the back of the Council Chambers and online. Council may take action on any agendized matter in any manner deemed appropriate by Council. 5297100.1

TOWN OF LOS ALTOS HILLS

MEMORANDUM
DATE: February 16, 2023
TO: Honorable Mayor and Members of the Council
FROM: Deborah Padovan, City Clerk
RE: Appointment to the Los Altos Hills Emergency Preparedness & Response Committee
Attached for your review and consideration is an application from Phillip M. Harter for appointment to the Los Altos Hills Emergency Preparedness and Response Committee.

The term would run four years, beginning in March 2023 and end March 2027.

Resolution 90-22 stipulates that the membership of this committee shall consist of a minimum of five (5) members and a maximum of nine (9) members. The Town currently has three (3) vacancies on the committee. With this appointment, the committee would have two (2) openings.

AGENDA ITEM #2.A
D.P.

From: [email protected]
To: Deborah Padovan; Chris Knopf; Sarah Robustelli
Subject: Online Form Submittal: Town Committee/Planning Commission Application Form Date: Thursday, January 19, 2023 3:39:49 PM
Town Committee/Planning Commission Application Form
Town of Los Altos Hills
26379 Fremont Road
Los Altos Hills, CA 94022
Phone: 650-941-7222
Fax: 650-941-3160
About this Application
Town citizens are encouraged to apply at any time to serve on the Town’s committees, and certain special appointed positions. Applications are reviewed when openings are available; qualified applicants will then be invited to interview with the City Council. This application is intended to assist the City Council to learn more about you and your interests in serving on one of the Town’s committees.

Preference for Serving
On:

Emergency Preparedness and Response Committee
Name Phillip M. Harter
Registered Voter Yes
Address
Home Phone
Work Phone
Cell Phone
Email Address
Number of Years Town
Resident
(Section Break)
What motivated you to
apply to serve on the
Committee /
Commission?
I had a discussion with one of the council members about serving on a town committee. Given my background and interests, this committee was suggested. I met with the chair and vice-chair. I feel that I have experience and expertise to offer the committee and the Town.

How many meetings
have you attended of
1

the Committee /
Commission for which
you are applying?
Please describe your
involvement in
community activities,
civic services, and
volunteer
organizations.

1. Medical advisory board for an international NGO

2. Youth sports official

3. Medical direction for local sporting events - both athletes and spectators

4. Past EMS medical director for the county
What skills and / or
attributes will you bring
to the Committee /
Commission you are
applying for?

1. 40 years experience as an emergency physician

2. 12 years experience in EMS medical direction, including disaster response planning/training at the regional, county and state level

3. Planning medical response plan for various large events (National Senior Games with 10,000 athletes over 50 years of age and 6 World Cup Games at Stanford with 80,000 to 100,000 spectators/game, among others)
What particular area of
responsibility on this
Committee /
Commission interests
you?

1. The medical component of local preparedness and response, including protocol development and training.

2. Integration of the local response within the greater county response and use of local resources
Education Background
and Professional
Activities

1. Physician, board-certified in emergency medicine

2. Past EMS medical director for Santa Clara County

3. Medical direction for local sporting events - both athletes and spectators

4. Medical educator
Please state reasons
why you want to
become a member of
this Committee /
Commission, including
what specific objectives
you would be working
toward as a member.

I feel the EPRC has a very important mission for the Town of Los Altos Hills. I have an understanding of disaster preparedness and management. I believe that I can contribute a medical
perspective to the committee as well as provide thoughts regarding integration with local resources.

Are you aware of any
existing or proposed
Town or private
projects or personal
relationships that may
create a conflict of
interest that could
affect your decisions?
No

If "Yes", please explain.

If "No", please type
"N.A."
N.A.

Are you aware of any
issues now or
proposed that might
require you to recuse
yourself?
No
If "Yes", please explain.

If "No", please type
"N.A."
N.A.

Membership on
standing Committees /
Commissions often
entails meetings
throughout the year,
and most Committees /
Commissions meet at
least once monthly.

Can you be available
for these meetings?
Yes
I voluntarily submit this application to the Town of Los Altos Hills Standing Committees/Planning Commission, and verify that the information contained in this application is correct.

Please check the box I have read the Code of Conduct for Appointed Persons Signature Phillip M. Harter
Date 1/19/2023
(Section Break)
Please let us know how
you heard about the
Town's Committees
and Membership
Application.

Town Event
(Section Break)
Please Note
Please note that your appointment will be posted on the Town’s website as a Standing Committee member. Your signed application is public record and will be available on request.

Online Resources Town of Los Altos Hills Website
Questions?
Questions and additional information regarding the selection process should be directed to the City Clerk at 650-941-7222.

Thank you for your interest in serving your community!
Email not displaying correctly? View it in your browser.

TOWN OF LOS ALTOS HILLS

MEMORANDUM
DATE: February 16, 2023
TO: Honorable Mayor and Members of the Council
FROM: Deborah Padovan, City Clerk
RE: Appointments to the Los Altos/Los Altos Hills Joint Community Volunteer Service Awards Committee
There are currently three (3) opening on the Los Altos/Los Altos Hills Joint Volunteer Awards Committee. The term begins upon appointment by the City Council on February 16, 2023 and concludes on March 31, 2027.

The following individuals have requested reappointment/appointment:

Don Mattson (current member)
Sandy Mingia (current member)
Jennifer Duarte (current member)
Benjamin Gikis (application attached)
Voting ballots will be provided at the City Council meeting.

AGENDA ITEM #2.B
D.P.

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Form Center My Forms
Town Committee/Planning Commission
Application Form
Save
Progress
Town of Los Altos Hills
26379 Fremont Road
Los Altos Hills, CA 94022
Phone: esu:.§41·-1222
Fax: 650-941-3160
About this Application
Town citi;z:af.lS, ar.e encou::ageo to. apply at any tim& to se,,"v& on theTown's committees, and certain special appointed positions.

Applications are reviewed when openings are available; qualified applicants will then be invited to interview with the City Council. This application is intended to assist the City Council to learn more about you and your interests in serving on one of the Town's committees.

Preference for Serving On:•
Joint Volunteer Awards
Name*
Benjamin Gikis
Address*
Home Phone* Work Phone
Registered Voter*
Yes
No
Cell Phone

Email Address• Number of Years Town Resident•
50 What motivated you to apply to serve on the Committee / Commission?*
c---··-· · · -·--·-----·-··---·-----· ---1
1 t-'revious experience on this and other Committees and specific i I experience with Volunteer Award Program i
I , , I I r
L...... . """·"''"' ..................... ~........ . .............. ""-1-.I How many meetings have you attended of the Committee /
Commission for which you are applying?*
50 over the last 10 years
Please describe your involvement in community activities, civic services, and volunteer organizations.•
r----------·--------·-------------.
i Numerous activities including youth sports and scouting, Parks and 11 I Recreation Committee (8 years) and currently on Emergency 1 I preparedness Committee. I have been on the Volunteer Awards I I Committee for 8+ years, term limited out and am now reapplying 1 [for a ne~!~.r:m after 1 Y~.~r. . . _ .. . ... . J
What skills and / or attributes will you bring to the Committee / Commission you are applying for?*
r
-·-----------·-----------------------·· l , Planning, Organizational and Financial. I ! I
I ! I ;
! l
! I
! .................................................................... ,.,... .. .. .. .... , .............. .... ............... ?.! What particular area of responsibility on this Committee/ Commission interests you?* l Org~~izing t~;~fueA~~-;;·;;;;;;-~--]
!budget
1 I I L . .. _
.- .... 1l
Education Background and Professional Activities*
r:---------···----·--·----------·-····--·-·---------,
! BS and MS in Chemical Engineering, minor in Business. 50 years \ I of management responsibility in various technical businesses ! I I
t !
! i
! i i /,! L ....... -........... -- ... , .......... - ... ., ..... rl Please state reasons why you want to become a member of this Committee I Commission, including what specific objectives you would be working toward as a member.•
[ Committee needs continuity and is having a lot of turnover. My I I experience with the process for over 1 O yearsmwill be valuable in l l maintaining quality in the program I
I I I 11

Are you aware of any existing or proposed Town or private projects or personal relationships that may create a conflict of interest that could affect your decisions?
Yes
;£) No
If "Yes", please explain. If "No", please type "N.A."*
.-----.. ----·----·--·------------·-'
IN/A i
I i i I
I ~
Are you aware of any issues now or proposed that might require you to recuse yourself?
Yes
No
If "Yes", please explain. If "No", please type "N.A:··
N/A
Membership on standing Committees/ Commissions often entails meetings throughout the year, and most Committees / Commissions meet at least once monthly. Can you be available for these meetings?* Yes No
I voluntarily submit this application to the Town of Los Altos Hills Standing Committees/Planning Commission, and verify that the information contained in this application is correct.

Please check the box*
~ I have read the Code of Conduct for Appointed Persons Click Here to read the Code of Conduct for AP-,Qointed persons Signature•
Benjamin J.Gikis
Date•
01/27/2023
Please let us know how you heard about the Town's Committees and Membership Application.•
Town Newsletter Friend /
Town Website
Newspaper
Neighbor
Online News
Town Event
Social Media
Other

Please note that your appointment will be p0sted 0n the Town's website as a Standing Committee member. Your signed application is public record and will be available on request.

Online Resources
Town of Los Altos Hills Website
Copies of the appropriate resolutions, mandates and certain requirements for appointment to the Town's Standing Committees are available on Town website. The current number of vacancies on ,each oomrnittee 1s -also er11aUablecof1 the C~ee-'s webpage; Questions?
Questions and additional information regarding the selection process should be directed to the City Clerk at 650-941-7222.

Thank you for your interest in serving your community!
Receive an email copy of this form.

Email address
[email protected]
This field is not part of the
form submission.

Submit Submit and Print
* indicates a required field

TOWN OF LOS ALTOS HILLS

MEMORANDUM
DATE: February 16, 2023
TO: Honorable Mayor and Members of the Council
FROM: Deborah Padovan, City Clerk
RE: Appointment to the Los Altos Hills Environmental Initiatives Committee Attached for your review and consideration is an application from George Lee for appointment to the Los Altos Hills Environmental Initiatives Committee. The term would run four years, beginning in February 2023 and end February 2027.

Resolution 90-22 stipulates that the membership of this committee shall consist of a minimum of five (5) members and a maximum of eleven (11) members. The Town currently has four (4) vacancies on the committee. With this appointment, the committee would have three (3) openings.

AGENDA ITEM #2.C
D.P.

From: [email protected]
To: Deborah Padovan; Chris Knopf; Sarah Robustelli
Subject: Online Form Submittal: Town Committee/Planning Commission Application Form Date: Thursday, January 26, 2023 8:55:33 PM
Town Committee/Planning Commission Application Form
Town of Los Altos Hills
26379 Fremont Road
Los Altos Hills, CA 94022
Phone: 650-941-7222
Fax: 650-941-3160
About this Application
Town citizens are encouraged to apply at any time to serve on the Town’s committees, and certain special appointed positions. Applications are reviewed when openings are available; qualified applicants will then be invited to interview with the City Council. This application is intended to assist the City Council to learn more about you and your interests in serving on one of the Town’s committees.

Preference for Serving
On:

Environmental Initiatives Committee
Name George Lee
Registered Voter No
Address
Home Phone
Work Phone Field not completed.

Cell Phone Field not completed.

Email Address
Number of Years Town
Resident
7 (Section Break)
What motivated you to
apply to serve on the
Committee /
Commission?
I believe I can contribute to the EIC with my background in sustainable technologies. Members of the EIC asked me to apply.

How many meetings
have you attended of
1

the Committee /
Commission for which
you are applying?
Please describe your
involvement in
community activities,
civic services, and
volunteer
organizations.

Donated and provided energy systems to Los Altos School District, Pinewood, and Fremont Hills Country Club. I currently servce on the LAH Technology Committee.

What skills and / or
attributes will you bring
to the Committee /
Commission you are
applying for?
Knolwedge and problem solving. Of the active projects, I have experience in energy, microgrids, vehicle to grid charging systems.

What particular area of
responsibility on this
Committee /
Commission interests
you?
Anything science and technology, but specifically sustainability and energy.

Education Background
and Professional
Activities
MIT/Caltech (EECS)
Please state reasons
why you want to
become a member of
this Committee /
Commission, including
what specific objectives
you would be working
toward as a member.

I would to help the town and citizens be more sustainable and achieve energy resilliency.

Are you aware of any
existing or proposed
Town or private
projects or personal
relationships that may
create a conflict of
interest that could
affect your decisions?
No
If "Yes", please explain.

If "No", please type
"N.A."
NA

Are you aware of any
issues now or
proposed that might
require you to recuse
yourself?
No
If "Yes", please explain.

If "No", please type
"N.A."
NA
Membership on
standing Committees /
Commissions often
entails meetings
throughout the year,
and most Committees /
Commissions meet at
least once monthly.

Can you be available
for these meetings?
Yes
I voluntarily submit this application to the Town of Los Altos Hills Standing Committees/Planning Commission, and verify that the information contained in this application is correct.

Please check the box I have read the Code of Conduct for Appointed Persons Signature George Lee
Date 1/26/2023
(Section Break)
Please let us know how
you heard about the
Town's Committees
and Membership
Application.

Other
If other, please explain. Members of EIC
(Section Break)
Please Note
Please note that your appointment will be posted on the Town’s website as a Standing Committee member. Your signed application is public record and will be available on request.

Online Resources Town of Los Altos Hills Website

Questions?
Questions and additional information regarding the selection process should be directed to the City Clerk at 650-941-7222.

Thank you for your interest in serving your community!
Email not displaying correctly? View it in your browser.

From: anand ranganathan
To: City Council
Subject: Appointment to EIC
Date: Monday, February 13, 2023 6:27:37 PM
Dear City Council,
On the agenda for your next meeting is an application by George Lee for appointment to the EIC. I heartily endorse his application and urge you to appoint him. George is very knowledgeable about sustainable technologies. In addition, in the one meeting of the EIC that he attended he immediately volunteered to work with an EIC subcommittee despite not being on the EIC yet. The EIC needs more such residents to do our essential work and George will be an invaluable addition.

Thanks
Anand
Supplemental No. 1
AGENDA ITEM #2.C
Distributed 2/14/23

TOWN OF LOS ALTOS HILLS

MEMORANDUM
DATE: February 16, 2023
TO: Honorable Mayor and Members of the Council
FROM: Deborah Padovan, City Clerk
RE: Appointments to the Los Altos Hills Pathways Committee Attached for your review and consideration are three applications and one reappointment request for the Los Altos Hills Pathways Committee. The term would run four years, beginning in February 2023 and end February 2027.

Committee member Richard Partridge has served on the committee for one full term. He is seeking a second term and is currently serving as chair.

Attached are applications from the following individuals:

Garrett Bruer
Michael Henshaw
Laure Tuchscherer
Resolution 90-22 stipulates that the membership of this committee shall consist of a minimum of five (5) members and a maximum of nine (9) members. The Town currently has two (2) vacancies on the committee.

The Council may choose to reappoint Richard Partridge and select an individual from the applications provided. Or the Council may wish to select two individuals from the applicant pool. A ballot will be provided at the meeting for voting purposes.

AGENDA ITEM #2.D
D.P.

From: [email protected]
To: Deborah Padovan; Chris Knopf; Sarah Robustelli
Subject: Online Form Submittal: Town Committee/Planning Commission Application Form Date: Wednesday, February 1, 2023 9:07:38 PM
Town Committee/Planning Commission Application Form
Town of Los Altos Hills
26379 Fremont Road
Los Altos Hills, CA 94022
Phone: 650-941-7222
Fax: 650-941-3160
About this Application
Town citizens are encouraged to apply at any time to serve on the Town’s committees, and certain special appointed positions. Applications are reviewed when openings are available; qualified applicants will then be invited to interview with the City Council. This application is intended to assist the City Council to learn more about you and your interests in serving on one of the Town’s committees.

Preference for Serving
On:

Pathways
Name Garrett Bruer
Registered Voter Yes
Address
Home Phone
Work Phone Field not completed.

Cell Phone Field not completed.

Email Address [email protected]
Number of Years Town
Resident
Los Altos Hills
(Section Break)
What motivated you to
apply to serve on the
Committee /
Commission?
Become more involved in town affairs. Meet other residents.

Increase path safety for Northeast Los Altos Hills residents.

How many meetings
have you attended of
0

the Committee /
Commission for which
you are applying?
Please describe your
involvement in
community activities,
civic services, and
volunteer
organizations.

Attended multiple town social events.

What skills and / or
attributes will you bring
to the Committee /
Commission you are
applying for?
Willingness to learn and provide analytical frameworks to solve problems.

What particular area of
responsibility on this
Committee /
Commission interests
you?
Path safety
Education Background
and Professional
Activities
Masters, analytics professional.

Please state reasons
why you want to
become a member of
this Committee /
Commission, including
what specific objectives
you would be working
toward as a member.

Safety of pathways for NE Los Altos Hills.

Are you aware of any
existing or proposed
Town or private
projects or personal
relationships that may
create a conflict of
interest that could
affect your decisions?
No
If "Yes", please explain.

If "No", please type
"N.A."
NA

Are you aware of any
issues now or
proposed that might
require you to recuse
yourself?
No
If "Yes", please explain.

If "No", please type
"N.A."
NA
Membership on
standing Committees /
Commissions often
entails meetings
throughout the year,
and most Committees /
Commissions meet at
least once monthly.

Can you be available
for these meetings?
Yes
I voluntarily submit this application to the Town of Los Altos Hills Standing Committees/Planning Commission, and verify that the information contained in this application is correct.

Please check the box I have read the Code of Conduct for Appointed Persons Signature Garrett Bruer
Date 2/1/2023
(Section Break)
Please let us know how
you heard about the
Town's Committees
and Membership
Application.

Town Newsletter
(Section Break)
Please Note
Please note that your appointment will be posted on the Town’s website as a Standing Committee member. Your signed application is public record and will be available on request.

Online Resources Town of Los Altos Hills Website
Questions?
Questions and additional information regarding the selection process should be

directed to the City Clerk at 650-941-7222.

Thank you for your interest in serving your community!
Email not displaying correctly? View it in your browser.

From: [email protected]
To: Deborah Padovan; Chris Knopf; Sarah Robustelli
Subject: Online Form Submittal: Town Committee/Planning Commission Application Form Date: Tuesday, January 31, 2023 6:34:47 PM
Town Committee/Planning Commission Application Form
Town of Los Altos Hills
26379 Fremont Road
Los Altos Hills, CA 94022
Phone: 650-941-7222
Fax: 650-941-3160
About this Application
Town citizens are encouraged to apply at any time to serve on the Town’s committees, and certain special appointed positions. Applications are reviewed when openings are available; qualified applicants will then be invited to interview with the City Council. This application is intended to assist the City Council to learn more about you and your interests in serving on one of the Town’s committees.

Preference for Serving
On:

Pathways
Name michael henshaw
Registered Voter Yes
Address
Home Phone
Work Phone
Cell Phone
Email Address
Number of Years Town
Resident
1 (Section Break)
What motivated you to
apply to serve on the
Committee /
Commission?
I moved to LAH in November of 2022. My mother, was a
Commissioner for Mid Peninsula Regional Open Space for over 12 years. She encouraged me to get involved with a LAH
Committee. I am an avid walker, runner , biker and hiker . I love being able to run, walk, hike and bike from front door.

How many meetings
have you attended of
So far , I have not attended a meeting but will attend the meeting for the month of February

the Committee /
Commission for which
you are applying?
Please describe your
involvement in
community activities,
civic services, and
volunteer
organizations.

I am a mentor to several young men who need life skills coaching- I attend Church services weekly. I am a member of the SVTC . I am a single father to two children, active uncle to three nephews and one niece. My mother is 86 and lives in Sunnyvale - I visit her 2-3 times per week
What skills and / or
attributes will you bring
to the Committee /
Commission you are
applying for?
I started backpacking when I was 7 years old. I have always had an appreciation and gratitude for the beautiful hills of Santa Clara County - I am outdoors in the hills at least 5 days per week. I understand the necessity and operation of a multi use trail use system. I am a pragmatic and logical thinker who gathers information before making critical decisions. I was born and raised in Sunnyvale.

What particular area of
responsibility on this
Committee /
Commission interests
you?
The preservation and maintenance of the Pathways is critical component to the history, present day and future of Los Altos Hills.

Education Background
and Professional
Activities
I have a double major in Economics and Geography from UC Santa Barbara. I am investment real estate broker at Marcus and Millichap. My office is located ten minutes from my home. I have been actively involved in local estate since 1988.

Please state reasons
why you want to
become a member of
this Committee /
Commission, including
what specific objectives
you would be working
toward as a member.

I am a local boy- I have seen Santa Clara County change a since my birth in 1963. Change is inevitable. Managing change and growth requires leaders who can understand complex issues.

Complex issues often require detailed analysis of facts and opinions. I feel I am qualified to help with the maintenance and preservation of the Pathway system in LAH . - In short, my goal and objective.

Are you aware of any
existing or proposed
Town or private
projects or personal
relationships that may
create a conflict of
interest that could
affect your decisions?
No
If "Yes", please explain.

If "No", please type
n/a

"N.A."
Are you aware of any
issues now or
proposed that might
require you to recuse
yourself?
No
If "Yes", please explain.

If "No", please type
"N.A."
n/a
Membership on
standing Committees /
Commissions often
entails meetings
throughout the year,
and most Committees /
Commissions meet at
least once monthly.

Can you be available
for these meetings?
Yes
I voluntarily submit this application to the Town of Los Altos Hills Standing Committees/Planning Commission, and verify that the information contained in this application is correct.

Please check the box I have read the Code of Conduct for Appointed Persons Signature michael henshaw
Date 1/31/2023
(Section Break)
Please let us know how
you heard about the
Town's Committees
and Membership
Application.

Town Website, Friend / Neighbor
(Section Break)
Please Note
Please note that your appointment will be posted on the Town’s website as a Standing Committee member. Your signed application is public record and will be available on request.

Online Resources Town of Los Altos Hills Website

Questions?
Questions and additional information regarding the selection process should be directed to the City Clerk at 650-941-7222.

Thank you for your interest in serving your community!
Email not displaying correctly? View it in your browser.

From: [email protected]
To: Deborah Padovan; Chris Knopf; Sarah Robustelli
Subject: Online Form Submittal: Town Committee/Planning Commission Application Form Date: Tuesday, January 31, 2023 1:06:12 PM
Town Committee/Planning Commission Application Form
Town of Los Altos Hills
26379 Fremont Road
Los Altos Hills, CA 94022
Phone: 650-941-7222
Fax: 650-941-3160
About this Application
Town citizens are encouraged to apply at any time to serve on the Town’s committees, and certain special appointed positions. Applications are reviewed when openings are available; qualified applicants will then be invited to interview with the City Council. This application is intended to assist the City Council to learn more about you and your interests in serving on one of the Town’s committees.

Preference for Serving
On:
pathways
Name TUCHSCHERER
Registered Voter Yes
Address 14271 miranda road
Home Phone 6503364979
Work Phone Field not completed.

Cell Phone Field not completed.

Email Address [email protected]
Number of Years Town
Resident
10 (Section Break)
What motivated you to
apply to serve on the
Committee /
Commission?
I would love to help my community and get more involved.

How many meetings
have you attended of
none yet

the Committee /
Commission for which
you are applying?
Please describe your
involvement in
community activities,
civic services, and
volunteer
organizations.

I am an active casa (court appointed special advocate)
I am a "meals on wheels" driver
I organize potlucks twice a year in my road and neighborhood (miranda)
What skills and / or
attributes will you bring
to the Committee /
Commission you are
applying for?
Love of art. Contact with many local and Californian sculptors.

Daily hiker/runner in my neighborhood.

What particular area of
responsibility on this
Committee /
Commission interests
you?
Finding new artists and places where to expose them.

Make sure our neighborhood keeps and develops its trails, pathways and open spaces.

Education Background
and Professional
Activities
Business background in Europe and US. Fashion buyer for 15 years. Active volunteering in different organizations for the last 5 years.

Please state reasons
why you want to
become a member of
this Committee /
Commission, including
what specific objectives
you would be working
toward as a member.

A city needs art and nature so any help I can give in any of those two fields would make me happy.

Are you aware of any
existing or proposed
Town or private
projects or personal
relationships that may
create a conflict of
interest that could
affect your decisions?
No
If "Yes", please explain.

If "No", please type
"N.A."
N.A.

Are you aware of any
issues now or
proposed that might
require you to recuse
yourself?
No
If "Yes", please explain.

If "No", please type
"N.A."
N.A.

Membership on
standing Committees /
Commissions often
entails meetings
throughout the year,
and most Committees /
Commissions meet at
least once monthly.

Can you be available
for these meetings?
Yes
I voluntarily submit this application to the Town of Los Altos Hills Standing Committees/Planning Commission, and verify that the information contained in this application is correct.

Please check the box I have read the Code of Conduct for Appointed Persons Signature Laure TUCHSCHERER
Date 1/31/2023
(Section Break)
Please let us know how
you heard about the
Town's Committees
and Membership
Application.

Town Newsletter
(Section Break)
Please Note
Please note that your appointment will be posted on the Town’s website as a Standing Committee member. Your signed application is public record and will be available on request.

Online Resources Town of Los Altos Hills Website
Questions?
Questions and additional information regarding the selection process should be

directed to the City Clerk at 650-941-7222.

Thank you for your interest in serving your community!
Email not displaying correctly? View it in your browser.

TOWN OF LOS ALTOS HILLS

MEMORANDUM
DATE: February 16, 2023
TO: Honorable Mayor and Members of the Council
FROM: Deborah Padovan, City Clerk
RE: Reappointment to the Los Altos Hills Parks & Recreation Committee Committee member Yibin Tang has completed one term on the Parks and Recreation Committee and has expressed an interest in serving a second term. The term would run four years, beginning in February 2023 and end February 2027.

Resolution 90-22 stipulates that the membership of this committee shall consist of a minimum of five (5) members and a maximum of ten (10) members. The Town currently has four (4) vacancies on the committee. With this reappointment, the committee would have three (3) vacancies.

AGENDA ITEM #2.E
D.P.

AGENDA ITEM #2.F

2. PRESENTATIONS AND APPOINTMENTS
F. Presentation by Greenwaste Executive Staff on How Recyclable Material is Handled in Los Altos Hills
A presentation will be provided on or before February 16, 2023.

AGENDA ITEM #2.G

2. PRESENTATIONS AND APPOINTMENTS
G. Presentation by the City Manager on the EOC Drill Conducted on February 1, 2023 A presentation will be provided on or before February 16, 2023.

Creativity & Innovation
in Silicon Valley

POWER OF
LosAltosHills
January 28, 2023
2-5 pm
AGENDA ITEM #2.H

Pas t, Pres ent and Future of Product in Silicon Valley - SC Moatti The Power of Purpos e - Sudnya Shroff & Nickhil Jakatdar Ses s ion 1 - Human Creativity and Innovation
Des igning for and Rais ing the Digital Future - Kalinda Raina The Solution to Reduce the Cos t of Living - Guy Kaplins ky In t e rm ission
Acapella Performance - Pinewood Take Note
Ses s ion 2 - Nature's Creativity and Innovation
Living Rich on a Tiny Carbon Footprint - Steve Schmidt
Can I Revers e My Diabetes Us ing Cells and Sens ors ? – Katy Digovich Hair, Women & a Revolution – Ellie J avadi
Clo sin g Re m a rks & Re ce p t io n
LosAltosHills

LosAltosHills
Expenses Actual
Stage/Banners/Red Carpet/Step and Repeat 1,514
Speaker Gifts/Greenroom/Lunch 992
AV/Photographer 2,770
Reception 2,543
Total 7,819
~7,181 underbudget

LosAltosHills
• Feedback from the event
• Consider a 2024 event
• Apply for license

TEDxLos Altos Hills
Clos ing Remarks
Medha Nicky Rish i
Founder | Global Exe c HR | Start-ups | Twin Mom
LosAltosHills

1 Los Altos Hills City Council - Public Comment
February 16, 2023
My name is Mary Beth Bykowsky and I am an Outreach Analyst in the California Department of Insurance, also known as CDI. I am happy to give an update on the nation’s first wildfire safety regulation to help drive down the cost of insurance.

We have heard from thousands of Californians about the need to see discounts for wildfire safety and greater transparency, so we took action.

CDI worked with the state’s emergency response and preparedness agencies, including CAL FIRE and the Governor’s Office of Emergency Services, to create a consistent list of actions you can take to protect yourself from wildfires. At CDI, we call it the Safer from Wildfires (SFW) 1-2- 3 Plan.

Insurance Commissioner Ricardo Lara has directed insurance companies to provide discounts to consumers under the new SFW framework with transparency about risk rating.

The Regulation requires insurance companies to submit new rates that recognize the benefit of safety measures such as upgraded roofs and windows, defensible space, and community wide programs such as Firewise USA and the Fire Risk Reduction Community (FRRC) designation developed by the state’s Board of Forestry and Fire Protection, which currently includes the counties of Los Angeles, Santa Barbara and Butte, as well as cities and local districts. https://bof.fire.ca.gov/projects-and-programs/fire-riskreduction-community-list/ Supplemental No. 1
AGENDA ITEM 3
Distributed 2/16/23

2 Insurance companies have until mid-April 2023 to submit their new rates to CDI for approval. We are urging communities and homeowners to take advantage of this time frame to harden their homes and communities.

Step One – Protect the Structure
Step Two – protect the immediate surroundings.

Step Three of the framework is an effort to obtain a community-level mitigation designation. This will most likely involve at least one, if not more, local government agencies (Fire, Emergency Services, Planning, etc.). This is an important part of California’s efforts to ensure communities are prepared against wildfire.

For the first time, the new Regulation requires insurance companies to give homeowners the wildfire risk score for their property. And they have to disclose what factors were used to determine the score.

The Regulation also requires insurance companies to notify the policyholder or applicant in writing of the right to appeal the wildfire risk score or other wildfire risk classification. And it also includes both residential and commercial insurance lines.

It is important to note that CDI does not have the authority to force insurers to write coverage. But this regulation attacks the root cause of non-renewals, which is wildfire risk, and they will make Californians safer.

The regulation allows insurance companies to consider additional factors going forward, as fire science continues to improve and to respond to local conditions.

3 With accurate pricing of insurance, we expect to see more insurance options for people through a more competitive market.

Additionally, the Department expects the FAIR Plan to comply with the new regulation and offer discounts for wildfire risk mitigation and structure hardening. The FAIR Plan currently offers a 10% discount on policies in a participating Firewise Community.

Regards,
Mary Beth Bykowsky
Outreach Analyst
Community Relations and Outreach Branch
California Department of Insurance
[email protected]

1 City Council Special Meeting Minutes
January 24, 2023
Town of Los Altos Hills
City Council Special Meeting Minutes
Tuesday, January 24, 2023
Council Chambers, 26379 Fremont Road, Los Altos Hills, California

Present: Mayor Lynda Swan, Vice Mayor Stanley Q. Mok, Councilmember Lisa Schmidt, Councilmember George Tyson

Absent: Councilmember Kavita Tankha
Staff: City Manager Peter Pirnejad, City Attorney Steve Mattas, Assistant City Attorney Claire Lai, Planning and Building Director Sofia Mangalam, Public Works Director/City Engineer WooJae Kim, Administrative Services Director Sarina Revillar, Management Analyst II Cody Einfalt, City Clerk Deborah Padovan CALL TO ORDER (6:00 P.M.)
A. Roll Call
B. Pledge of Allegiance
Mayor Swan called the meeting to order at 6:00 p.m.

Vice Mayor Mok said he was deeply shocked and appalled about the mass shootings in Monterey Park and Half Moon Bay which claimed the lives of many innocent victims. Gun violence needs to stop. He then asked for a moment of silence for the victims, the families and everyone impacted by these tragedies.

Mayor Swan wished Councilmember Tankha a speedy recovery.

1. AGENDA REVIEW
There were no changes to the agenda.

2. PRESENTATIONS AND APPOINTMENTS
A. Appointment to the Los Altos/Los Altos Hills Library Commission City Clerk Padovan presented the application of Christine Fawcett for the LA/LAH Library Commission.

Ms. Fawcett introduced herself to the City Council and expressed an interest in serving on the commission.

AGENDA ITEM #4.A
DRAFT

2 City Council Special Meeting Minutes
January 24, 2023
MOTION MADE AND SECONDED: Councilmember Schmidt moved to appoint Christine Fawcett to the Los Altos/Los Altos Hills Library Commission for a fouryear term. The motion was seconded by Vice Mayor Mok.

MOTION PASSED 4-0-1:

AYES: Swan, Mok, Schmidt, Tyson
NOES: None
ABSTAIN: None
RECUSE: None
ABSENT: Tankha
B. Appointment to the Los Altos/Los Altos Hills Joint Volunteer Awards Committee

City Clerk Padovan presented the application of Kelly Davis.

Ms. Davis introduced herself to the City Council and expressed an interest in serving on the committee.

MOTION MADE AND SECONDED: Councilmember Tyson moved to appoint Kelly Davis to the Los Altos/Los Altos Hills Joint Volunteer Awards Committee for a four-year term. The motion was seconded by Councilmember Schmidt.

MOTION PASSED 4-0-1:

AYES: Swan, Mok, Schmidt, Tyson
NOES: None
ABSTAIN: None
RECUSE: None
ABSENT: Tankha
C. Appointment to the Los Altos Hills History Committee

City Clerk Padovan presented the application of Duffy Price.

Ms. Price introduced herself and expressed an interest in serving on the History Committee.

MOTION MADE AND SECONDED: Councilmember Tyson moved to appoint Duffy Price to the Los Altos Hills History Committee for a four-year term. The motion was seconded by Councilmember Schmidt.

MOTION PASSED 4-0-1:

AYES: Swan, Mok, Schmidt, Tyson
NOES: None
ABSTAIN: None
RECUSE: None
ABSENT: Tankha
DRAFT

3 City Council Special Meeting Minutes
January 24, 2023

3. PRESENTATIONS FROM THE FLOOR

Eric Bredo, Los Altos Hills, asked the Council to continue to add pathways to Page Mill Road and to address bicycle safety.

4. CONSENT CALENDAR
MOTION MADE AND SECONDED: Councilmember Tyson moved to approve the Consent Calendar. The motion was seconded by Vice Mayor Mok.

MOTION PASSED 4-0-1:

AYES: Swan, Mok, Schmidt, Tyson
NOES: None
ABSTAIN: None
RECUSE: None
ABSENT: Tankha
A. Approval of Regular City Council Meeting Minutes – December 15, 2022

B. Approval of Special City Council Meeting Minutes – January 11, 2023

C. Review of Disbursements: December 1-31, 2022 $2,185,934.73

D. Approval of Treasurer’s Report for the Month Ended December 31, 2022 (Staff: S.

Revillar)
E. Receive Quarterly Investment Portfolio Report – Quarter Ending September 30, 2022 (Staff: S. Revillar)

F. Resolution 01-23 Adopting the Information Technology (IT) Policy (Staff: S.

Revillar)

G. Motion to Re-Authorize Remote Teleconference Meetings of the Town of Los Altos Hills, Including the Planning Commission and Committees, due to the Imminent Risks to the Health and Safety of Attendees and Making Related Findings Pursuant to AB 361 (Staff: S. Mattas)

H. Resolution 02-23 Accepting Town Hall Paint, Carpet, and Finance Room Renovation Project (Staff: D. Liang)

I. Resolution 03-23 Approving Application for Construction, and Approving Sewer Construction and Dedication Agreement for the 25750 Vinedo Lane Sanitary Sewer Main Extension Project (Staff: W. Kim)

DRAFT

4 City Council Special Meeting Minutes
January 24, 2023
J. Resolution 04-23 Approving Application for Construction, and Approving Sewer Construction and Dedication Agreement for the 13101, 13057, & 13023 La Cresta Drive Sanitary Sewer Main Extension Project (Staff: W. Kim)

K. Resolution 05-23 Authorizing the City Manager to enter into an Agreement for Emergency Work Along Page Mill Road with O. Nelson & Son, Inc., and Approving Unreserved General Fund Appropriation of $200,000 for the work (W. Kim)

L. Resolution 06-23 Accepting an Offer of Right-of-Way Dedication along Ortega Drive at 26880 Ortega Drive; Lands of Rajwar Family Revocable Trust; File #SD22- 0006 (Staff: J. Loh)

M. Resolution 07-23 Approving An Extension of the Construction Time Limit for a New Residence and Accessory Dwelling Unit Under Construction at 27800 Via Feliz (#21224 and #21225) (Staff: S. Mangalam)

N. Resolution 08-23 Approving an Extension of the Construction Time Limit for a Basement and Main Floor Addition Under Construction at 24250 Hillview (#Bld19- 0227) (Staff: S. Mangalam)

O. Approval for City Manager to Attend CivStart Board Retreat Feb 22-23, 2023, in Leesburg, Virginia on February 22-23, 2023 (Staff: P. Pirnejad)

5. ONGOING BUSINESS

A. Introduction of Ordinance 608 (First Reading) Amending Title 2, Chapter 6 of the Los Altos Hills Municipal Code Adding Conflict of Interest Designations (Staff: S.

Mattas) – Motion to Waive Reading and Introduce the Ordinance

City Attorney Steve Mattas presented the staff report.

Council discussion ensued.

MOTION MADE AND SECONDED: Vice Mayor Mok moved to waive reading and introduce Ordinance 608 Amending Title 2, Chapter 6 of the Los Altos Hills Municipal Code Adding Conflict of Interest Designations. The motion was seconded by Councilmember Tyson.

MOTION PASSED 4-0-1:

AYES: Swan, Mok, Schmidt, Tyson
NOES: None
ABSTAIN: None
RECUSE: None
ABSENT: Tankha
DRAFT

5 City Council Special Meeting Minutes
January 24, 2023

6. NEW BUSINESS

A. Appointments to Committees and Outside Agencies (Staff: D. Padovan)

Mayor Swan introduced the item. The Council discussed the committee appointments.

MOTION MADE AND SECONDED: Councilmember Tyson moved to make the following appointments:

Standing Town Committees 2023
Public Art (2nd Mon/month – 5:00 p.m.) Schmidt
Community Relations (4th Tues/month – 7:00 p.m.) Schmidt Emergency Preparedness and Response (1st Tues/month – 6:00 p.m.) Schmidt Environmental Design and Protection (2nd Tues/month – 5:45 p.m.) Tankha Environmental Initiatives (4th Thurs/month – 6:30 p.m.) Tyson Finance/Investment (1st Mon/month – 4:00 p.m.) Swan/Mok History (3rd Tues/month – 3:30 p.m.) Swan
LA/LAH Joint Community Volunteer Service Awards (As needed) Swan LA/LAH Senior Commission (1st Mon/month – 3:30 p.m.) Tyson LA/LAH Library Commission Schmidt
Open Space (2nd Thurs/month – 9:00 a.m.) Schmidt
Parks and Recreation (3rd Mon/month – 5:30 p.m.) Mok
Pathways (4th Mon/month – 6:30 p.m.) Swan
Technology (2nd Wed/month – 5:00 p.m.) Mok
LAH Emergency Council*
(*Ord 550 states: (3) The Mayor, or as an alternate, the Vice Mayor) Swan/Mok Outside Agencies 2023
Association of Bay Area Governments (ABAG) (3rd Thurs/every other month) Tankha North County Library Authority (4x/year – no fixed schedule) Schmidt Joint Powers Authority Board (Library) Schmidt
Valley Transportation Authority (VTA) Board, Group 2 (1st Thurs/month – 5:30 p.m.) Tyson VTA Policy Advisory Group (2nd Thurs/month – 4:00 p.m.) – Alternate ok Tyson SCVWD Water Commission (4th Wed/month quarterly – 12:00 p.m.) Schmidt Santa Clara County Cities Association Board (2nd Thurs/month – 7:00 p.m., no meeting in July) Mok
Los Alto Hills County Fire District (3rd Tues/month – 7:00 p.m.) Tyson/Tankha CHAC JPA (4th Wed/month - 4:30 p.m., no meeting July or Dec) Tyson Silicon Valley Clean Energy Authority (2nd Wed/month – 6:00 p.m.) Tyson/Schmidt The motion was seconded by Councilmember Schmidt.

MOTION PASSED 4-0-1:

AYES: Swan, Mok, Schmidt, Tyson
NOES: None
ABSTAIN: None
RECUSE: None
ABSENT: Tankha
DRAFT

6 City Council Special Meeting Minutes
January 24, 2023
B. Resolution Approving Plans and Specifications for the Edgerton Road Pathway Project; Authorizing Staff to Advertise the Project for Bid; and Approving Unreserved Pathway Fund Appropriation of $250,000 for the Project (W. Kim) - This item was removed from the agenda with Revision No. 1.

7. STAFF REPORTS

A. City Attorney - No report.

B. City Clerk
City Clerk Deborah Padovan informed the Council that the volunteer dinner this year is scheduled for August 30, 2023, at a location to be announced.

C. Planning Director
Planning Director Sofia Mangalam reported that there two upcoming meetings for the adoption of the housing element. There is a Planning Commission meeting on Friday, January 27, 2023, at 5:00 p.m. and a City Council meeting on Monday, January 30, 2023, at 6:00 pm.

D. Administrative Services Director
Administrative Services Director Sarina Revillar reported that the mid-year budget to actuals will be presented at the February 16, 2023, City Council meeting. Staff will then proceed with starting the budget process for FY 2023-24.

E. Public Works Director
Public Works Director/City Engineer WooJae Kim reported that Public Works staff members are continuing to address the emergency and work order items related to the recent storm event.

Councilmember Schmidt said she has received very positive comments from residents during the storm events from New Year’s Eve through the first week of January. The Council thanks the staff for all of their hard work, by spending the night at the Corp yard.

F. City Manager
City Manager Peter Pirnejad provided the following report:
♦ Look forward to the first edition of the Los Altos Hills Quarterly being mailed to your mailbox in the coming days. We feature an entire range of government news updates including QR codes that will take you right to sites of interest.

DRAFT

7 City Council Special Meeting Minutes
January 24, 2023
♦ Tomorrow, Wednesday, January 25, 2023, we will hold our 2023 Council Goal Setting Session from 9:00 a.m. to 3:00 a.m. here in the Council Chambers. ♦ As a reminder Housing Element will be reviewed by the Planning Commission on Friday, January 27, 2023, followed by the City Council on January 30 with the goal to adopt the Housing Element and authorize staff to submit it to HCD. ♦ We are proud to announce that the Page Mill Road Sink was complete last week and open to two-way traffic.
♦ We discussed ending the Emergency Declaration that expires on Friday, February 17, 2023.
♦ Staff attended the county wide Community Wildfire Protection Plan update meetings this week to make sure Los Altos hills is represented. ♦ On Wednesday, February 1, 2023, the town will be hosting an EOC Drill in the Council Chambers with attendance from many of our community partners and agencies including the County and others. We are expecting over 40 participants and will report back to the council in February.
♦ As a reminder our City Clerk regularly prepared a city council recap of all regular meetings that is included in our Weekly City Manager’s Report published at the end of every week. I encourage everyone to sign up and receive that update. ♦ Reminder that AB 361 is coming to an end and please be advised that meetings will need to be held in person in LAH starting in March and advertised as such.

8. REPORTS FROM COMMITTEES, SUB-COMMITTEES, AND

COUNCILMEMBERS ON OUTSIDE AGENCIES

A. Report by the Undergrounding Subcommittee (Councilmember Tyson) Councilmember Tyson said he had nothing to add this month.

B. Report from the Council Ad Hoc Committee Focusing on Broadband (Councilmembers Mok and Tankha)
Vice Mayor Mok said the ad hoc committee has not met due to Councilmember Tankha’s illness.

C. Report from the Council Ad Hoc Committee to Review the Our Town Newsletter (Councilmember Schmidt/Mayor Swan)
Councilmember Schmidt provided a brief background on the Our Town newsletter as it relates to history, culture, people in Los Altos Hills. She said the History Committee will be meeting next month to discuss taking on the Our Town Newsletter.

D. Request for the Formation of a City Council Ad Hoc Committee to Review the Changes to the Standing Committee Resolution (Staff: P. Pirnejad) DRAFT

8 City Council Special Meeting Minutes
January 24, 2023
City Manager Pirnejad asked that an ad hoc committee be formed to get comments and have conversations with various members of the committees to receive feedback.

Public Comment
Allan Epstein, Los Altos Hills, said it would it be very helpful to have the ad hoc committee. The committee would provide an opportunity for discussions in this area. More balanced participation of Councilmembers might result in a better or more favorable process.

MOTION MADE AND SECONDED: Vice Mayor Mok moved to form an ad hoc committee comprised of Councilmembers Schmidt and Tyson to review the changes to the standing committee resolution. The motion was seconded by Councilmember Tyson.

MOTION PASSED 4-0-1:

AYES: Swan, Mok, Schmidt, Tyson
NOES: None
ABSTAIN: None
RECUSE: None
ABSENT: Tankha
E. Status Reports from All Councilmembers on Subcommittee and Outside Agencies Activities
Vice Mayor Mok reported out from the Parks and Recreation Committee. He stated that a longtime volunteer Scott Vanderlip has resigned, and the committee would like to have him recognized for all his work throughout the years.

Councilmember Tyson said that in CHAC JPA the executive director has retired. There is an interim in place and they will begin the process of finding a new executive director.

Councilmember Schmidt said that she would like to hear from other councilmembers on what is happening with other committees.

Mayor Swan announced that our first TEDx is on Saturday, January 28, 2023, from 2:00 p.m. to 5:00 p.m. It is sold out.

She said the Pathways Committee passed a motion to request that the pathway master plan have an addition for a pathway from Maple Leaf to Middle Fork. She would like that added to the agenda next time.

DRAFT

9 City Council Special Meeting Minutes
January 24, 2023

9. COUNCIL INITIATED
Vice Mayor Mok said that May is Asian American and Pacific Island (AAPI) month. It educates the public on the positive aspect of what Asians have done for society. He requested that staff prepare a proclamation for the February recognizing May as AAPI month.

10. ADJOURN
The meeting adjourned at 6:48 p.m.

Respectfully submitted,
Deborah Padovan
City Clerk
DRAFT

1 City Council Special Meeting Minutes
January 25, 2023
Town of Los Altos Hills
City Council Special Meeting Minutes
Wednesday January 25, 2023
Council Chambers, 26379 Fremont Road, Los Altos Hills, California

Present: Mayor Lynda Swan, Vice Mayor Stanley Q. Mok, Councilmember Lisa Schmidt, Councilmember George Tyson

Absent: Councilmember Kavita Tankha
Staff: City Manager Peter Pirnejad, City Attorney Steve Mattas (left the meeting at 11:45 am), Planning Director Sofia Mangalam, Public Works Director/City Engineer WooJae Kim, Administrative Services Director Sarina Revillar, Community Services Manager Sarah Robustelli, Maintenance Superintendent Michael Schloetter, Senior Planner Elaine Ling, Utility Engineering Manager Daniel Liang, Management Analyst II Cody Einfalt, City Clerk Deborah Padovan CALL TO ORDER (9:00 A.M.)
A. Roll Call
B. Pledge of Allegiance
Mayor Swan called the meeting to order at 9:05 a.m.

Mayor Swan said Councilmember Tankha will be given a chance to weigh in at the next meeting.

1. STUDY SESSION ON COUNCIL PRIORITY SETTING AND 2023 WORK PLAN A. Introductory Remarks
City Manager Peter Pirnejad provided introductory remarks.

Facilitator Dan Rich, Renne Public Management Group, San Francisco, introduced the agenda and ground rules for the day, as well as the foundational principles for goal setting.

Executive Director Nelson Fialho, Renne Public Management Group, San Francisco, introduced himself to the City Council and shared the top challenges facing local governments in 2023.

City Manager Pirnejad explained that in January 2022, Council identified four value/priority areas to focus on for that calendar year. They were:
• Quality of Life and Community Character
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AGENDA ITEM #4.B

2 City Council Special Meeting Minutes
January 25, 2023
• Public Safety
• Effective Service Delivery and Governance
• Infrastructure
All the goals that were established fell into those categories. Twenty-three projects with 56 milestones were established and 32 Council initiatives were added throughout the year. Of all of those, about 76% were completed and the rest carried over to the next year. He then reviewed those that were carried over. He explained how the work plan was assembled, and the timeline of events leading up to today’s session.

He then outlined the four lists that the Council will create today:
• Proposed 2023 Work Plan
• The “Parking Lot”
• Committee Goals for 2023
• Any new items added at this meeting
Finally, he presented the Proposed 2023 Work Plan.

Council Recess at 10:15 a.m.

Council Reconvened to Open Session at 10:25 a.m.

Council questions and initial discussion followed.

B. Public Comment (Public Comment is Limited to Items which are the Subject of the Special Meeting)
Birgitta Indaco, Los Altos Hills, said it was interesting how we have to be so reactionary to all state mandated things. She would like to be proactive. She would like to add in a few things to protect the green sheets ideas - having horses and farm animals in Los Altos Hills. She would also like to highlight that the fence ordinance.

Why is it not ready? The security of residents should also be addressed.

Duffy Price, Los Altos Hills, addressed local control, and said it is slipping away. One of the reasons is that the League of California Cities has failed to follow what cities have asked. She said that the town should let them know that we are unhappy with that action, and we should no longer pay dues.

Bob Elson, Los Altos Hills, said he doesn’t see any new pathways or funding for building pathways in 2023. He hopes the town completes the pathway system. He suggested utilizing the committees to minimize staff time. Committees have a lot to contribute. He supports the green sheets and keeping the rural nature of the town.

Carol Gottlieb, Los Altos Hills, she supported the green sheets and the support of having farm animals in town. The fence ordinance should also be a priority. The DRAFT

3 City Council Special Meeting Minutes
January 25, 2023
History Committee can help in making Westwind Community Barn a state designated landmark.

Allan Epstein, Los Altos Hills, commented about the process. Why are items on the list that are routine items? He thinks a number of things could be removed from the list. Some things are missing relating to the sewer system - issues with capacity and changes in the town affect the needs for additional capacity. There are some changes to the municipal code relating to procurement process.

Anand Ranganathan, Los Altos Hills, wrote to the Council about putting the reach codes on the priority list. He asked that the reach codes be moved out of the parking lot. Passing a reach code that affects existing buildings this year should also be added. Climate Change is not waiting for us to go through our bureaucratic processes.

Ann Duwe, Los Altos Hills, recommended that we be proactive in promoting elements of the green sheets and that we join with other communities in challenging HCD (California Department of Housing and Community Development), its process and its numbers. The requirements are wreaking havoc with local control. We should be able to find a way to work with other cities to challenge the RHNA (Regional Housing Needs Allocation) process. We should consider delaying our dues to the League of California Cities.

Teresa Baker, Los Altos Hills, said she wants to codify the green sheets and maintain them. She wants to see horses and other animals in the future. We also need to finish the pathways.

Kjell Karlsson, Los Altos Hills, urged Council make sure that they direct staff to send a message to the League of California Cities. Also, Councilmember Tankha is not here. She should have input.

Identify Possible Additions to the Work Plan
Further Council discussion ensued on potential additions to the proposed work plan:

Councilmember Tyson said that he has three things that he wants to elevate:

1. Reach Codes.

2. Support of the pathway expansion.

3. Continue with the fence ordinance.

Two things that people have spoken about are the green sheets and farm animals. He supports the farm animals completely. The green sheets - the enormous workload to add an item to the ballot - that is a huge lift. He does not see the sewer rate study, the conveyance charges as rising issues.

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4 City Council Special Meeting Minutes
January 25, 2023
Mayor Swan said that a previous Council voted to do away with the pathway system. There is more to keeping the green sheets than the farm animals. She wants to be proactive. She also wants to see the fees reviewed and the process streamlined for ADUs.

Regarding sewer rates - she thinks a fairness comes into play and we should look into see if we are overpaying.

Vice Mayor Mok:

1. Legacy giving - that needs to be prioritized. We need to promote this to a priority item.

2. Gas shut off valve.

3. Reach codes.

4. Fence ordinance.

5. Green sheets.

6. Pathways.

7. Sewer fees.

Councilmember Schmidt:

1. Green sheets - in the most cost-effective way.

2. Reach codes.

3. More meat on the pathway discussion.

4. Emergency safety by the Emergency Preparedness and Response Committee. Put some money in the program for that during the budget cycle.

5. Fence ordinance.

Vice Mayor Mok noted said that the broadband issue is a multi-year issue.

The meeting went into Recess for lunch at 12:15 p.m.

The meeting Reconvened to Open Session at 12:49 p.m.

Discussion of Additional Items Identified Prior to Lunch Council discussion ensued on the following:
• Reach Codes
• Pathways (Planning and Implementation)
• Fence Ordinance
• Codification of Green Sheets
• Sewer Rate Study
• ADU Incentives
• Broadband
• Legacy Giving
• Gas Shut-Off Valves
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5 City Council Special Meeting Minutes
January 25, 2023
• Emergency Safety Outreach
Public Comment
Allan Epstein, Los Altos Hills, said it is not a sewer rate study, what it being proposed is the equity and fairness of what is being charged for the processing of conveyance. To determine whether or not we are being unfairly charged. If we are being overly charged, then we can start the discussion with Palo Alto and Los Altos. He mentioned Matadero Creek, and said we need to do more than to get a permit.

Birgitta Indaco, Los Altos Hills, said the fencing ordinance - it has now become property perimeter fencing all around. You cannot turn back the hands of time, there will be no code enforcement issue if they are allowed to do that. The problem is as permits are coming in, we get tested each time.

Bob Elson, Los Altos Hills, said we need to update code enforcement. For fencing, for pathways. Enforce our rules.

Duffy Price, Los Altos Hills, reemphasized that local control is slipping away. The Council needs to take action. The town as a group needs to let the league know that we are not happy. Invite the new president of the League of California Cities. Send a letter. Before we pay our dues, we need to invite the president to come talk to the town.

Anand Ranganathan, Los Altos Hills, thank you for taking the reach codes seriously. On priorities in general, he asked that one of things that blinded us as a community, was we wanted something that took a life of its own. It would be useful to create a process, have staff tell us if it will affect their priorities for the year. We need a process that it is made clear beforehand (not after). Regarding the sewer rate study, he said Council increased rates based on certain assumptions about the number of new houses that would be built. It is possible to go back and reevaluate to see if more or less money is coming in than is needed.

Jim Waschura, Los Altos Hills, it needs to be considered that the Planning Department is seriously overextended right now. Personnel changes are coming. Most of what we do in the planning area is mandated. Are they considering splitting the Building from the Planning Department? It could help balance what goes on in the two different departments.

Kjell Karlsson, Los Altos Hills, said it was a great idea to add resources to have a separate Planning and Building department. We should really understand what adding resources really means.

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6 City Council Special Meeting Minutes
January 25, 2023
Forced Ranking on Changes to the 2023 Priorities
The Council then ranked their priorities. They were each given three dot stickers and were to place them next to their three top priorities.

The forced ranking results were as follows:

Mayor Swan:
• Pathways
• Legacy Giving
• Green Sheets
Vice Mayor Mok:
• Reach Codes
• Legacy Giving
• Green Sheets
Councilmember Schmidt:
• Reach Codes
• Pathways
• Fence Ordinance
Councilmember Tyson:
• Reach Codes
• Pathways
• Fence Ordinance
The results were as follows:
• Reach Codes (3) • ADU Incentives
• Pathways (Planning/Implementation) (3) • Broadband
• Fence Ordinance (2) • Legacy Giving (2)
• Codify Green Sheets (2) • Gas Shut-Off Valves
• Sewer Rate Study • Emergency Safety Outreach
The meeting went into Recess at 2:08 p.m. for STAFF HUDDLE The meeting Reconvened to Open Session at 2:36 p.m.

C. Council Priority Setting
City Manager Pirnejad presented the possible changes to the work plan.

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7 City Council Special Meeting Minutes
January 25, 2023
Possible Deletions to Work Plan

1. Adobe Creek CIP

2. Addressing fire code application in town for development (AMMR) Possible Additions to the Work Plan

1. Reach Codes - will need additional resources and staffing

2. Pathways
a. Initiate multi-year plan to finish pathway system design - contractor b. Initiate construction on next 3.6 miles of pathways - contract and staffing Council discussion ensued.

D. Recommendation and Motion to Approve a 2023 Work Plan

No action was taken. City Manager Pirnejad stated that the 2023 Work Plan would be on the February 16, 2023 City Council agenda for approval.

2. ADJOURN

The meeting adjourned at 2:51 pm
Respectfully submitted,
Deborah Padovan
City Clerk
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1 City Council Special Meeting Minutes
January 30, 2023

CALL TO ORDER, ROLL CALL
This meeting was conducted virtually pursuant to the provisions of Assembly Bill 361 and Government Code Section 54953(e) related to conducting public meetings during the COVID-19 pandemic. Mayor Swan called the City Council Special Meeting to order at 6:00 p.m.

Present: Mayor Linda Swan, Vice Mayor Stanley Q. Mok, Councilmember Lisa H.

Schmidt, Councilmember Tankha, Councilmember George Tyson

Absent: None
Staff: City Manager Peter Pirnejad, City Attorney Steve Mattas, Planning Director Sofia Mangalam, Management Analyst II Cody Einfalt, City Clerk Deborah Padovan

1. PUBLIC COMMENT
Bob and Patti, Los Altos Hills, said they has lived in the hills for 50 years, he has seen the character of the hills change a lot, but nothing like the character change that is coming. He expressed doubts that residents would not vote for these changes if they even had such a chance.

Arthur Sobel, Los Altos Hills, said he agrees with the previous speaker. He does not want high rise apartment buildings that look like San Francisco in a few years.

John O'Connell, Los Altos Hills, said he circulated a petition, and they understand the challenge before the Council. He does believe that multi-family zoning would be rejected due to environmental review. The Council should reject the Housing Element that is before the Council tonight.

Rigo Gallardo, Local Union 405 of Santa Clara, said he was speaking on behalf of 39,000 union carpenters across Northern California. He said that area labor standards should be upheld. He requested that the Council hire local labor and provide for living wages.

Birgitta Indaco, Los Altos Hills Planning Commissioner, clarified what the Planning Commission voted on last Friday. This is an accumulation of at least 1000 hours of staff and volunteer time. This is as good as it gets so we can be compliant. She pointed out that the three identified properties with overlays was very carefully thought out with the event of SB 9 and ADU, we are creating a distribution throughout the town that handles the burden of some of those numbers.

Jim Waschura, Los Altos Hills Planning Commission Chair, said this is very confusing for residents. He said that four hundred units on ten acres is not something that Town of Los Altos Hills
City Council Special Meeting Minutes
Monday, January 30, 2023 – 6:00 p.m.

Council Chambers, 26379 Fremont Road, Los Altos Hills,
California
AGENDA ITEM #4.C
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2 City Council Special Meeting Minutes
January 30, 2023
is proposed. The Commission worked hard to make forced upzone for multifamily, instead it is an overlay zone. It can go down to a 20 acre per density unit and still qualify.

He said that by adopting the Housing Element tonight, the builders remedy would be avoided.

Sasha Zbrozek, Los Altos Hills, said he just pulled up the 2015-2023 Housing Element and read from it for multifamily residential use.

2. PUBLIC HEARINGS
A. Consideration of a Resolution adopting a General Plan Amendment to update the Housing Element of the General Plan for the period of 2023 -2031, making findings that the Housing Element substantially complies with State Housing Element laws and affirmatively furthers fair housing, that the Town has considered findings from the California Housing and Development Department and made revisions to the Housing Element to address and respond to those findings and making a determination that that adoption of the Housing Element of the General Plan for the period of 2023-2031 is exempt from the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines Sections 15061(b)(3) and 15283.

Project Description - A Housing Element is one of the seven mandatory elements of the General Plan that describes how local jurisdictions plan to meet the housing needs allocated to their communities. Every eight (8) years, local jurisdictions are required to review and adopt a Housing Element that is in substantial compliance with state housing element law. The 6th Cycle Housing Element update covers the planning period of 2023- 2031 and will replace the 5th Cycle Housing Element for the planning period of 2015- 2023. The 2023-2031 Housing Element includes the following chapters: Introduction, Review of Past Accomplishments; Housing Needs Assessment; Affirmatively Furthering Fair Housing, Constraints On Housing; Housing Resources; Site Descriptions; Ability to Meet RHNA; and Housing Goals, Policies and Programs. The Housing Element identifies three sites where a multi-family overlay zone designation would be proposed through subsequent zoning amendments: portions of the Foothill College site, portions of the St. Nicholas School site, and the Twin Oaks Court parcels (at Arastradero Road/Twin Oaks Court, Los Altos Hills).

Planning Director Sofia Mangalam presented the staff report.

Councilmembers asked questions of staff and received responses.

Vice Mayor Mok asked about SB 9 and the status of the ordinance. Director Mangalam responded that staff was currently working on it.

Mayor Swan opened the Public Hearing.

John O'Connell, Los Altos Hills, said that the petition in the packet is circulating throughout the affected areas of the Town and he will provide an update on the additional three of signatures from residents in Town.

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3 City Council Special Meeting Minutes
January 30, 2023
Mayor Swan closed the Public Hearing.

MOTION MADE AND SECONDED: Councilmember Schmidt moved to adopt Resolution 09-23 adopting a General Plan Amendment to update the Housing Element of the General Plan for the period of 2023 -2031, making findings that the Housing Element substantially complies with State Housing Element laws and affirmatively furthers fair housing, that the Town has considered findings from the California Housing and Development Department and made revisions to the Housing Element to address and respond to those findings and making a determination that that adoption of the Housing Element of the General Plan for the period of 2023-2031 is exempt from the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines Sections 15061(b)(3) and 15283. The motion was seconded by Vice Mayor Mok.

MOTION PASSED 5-0:

AYES: Swan, Mok, Schmidt, Tankha, Tyson
NOES: None
ABSTAIN: None
RECUSE: None
ABSENT: None

3. ADJOURN
The meeting adjourned at 6:42 p.m.

Respectfully submitted,
Deborah Padovan
City Clerk
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1 City Council Special Meeting Minutes
February 7, 2023

CALL TO ORDER, ROLL CALL
This meeting was conducted virtually pursuant to the provisions of Assembly Bill 361 and Government Code Section 54953(e) related to conducting public meetings during the COVID-19 pandemic. Mayor Swan called the City Council Special Meeting to order at 9:31 a.m.

Present: Mayor Linda Swan, Vice Mayor Stanley Q. Mok, Councilmember Lisa H.

Schmidt, Councilmember Kavita Tankha, Councilmember George Tyson

Absent: None
Staff: City Manager Peter Pirnejad, City Attorney Steve Mattas, City Clerk Deborah Padovan (left the meeting at 9:33 a.m.)
PUBLIC COMMENT (Public Comment is Limited to Items which are the Subject of the Special Meeting)
There was no public comment.

The City Council adjourned to Closed Session at 9:33 p.m. to consider the following:

A. CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION Significant exposure to litigation pursuant to Government Code Section 54956.9(d)(2): Two cases.

The meeting adjourned at 11:01 a.m. and there was no reportable action from closed session.

Respectfully submitted,
Deborah Padovan
City Clerk
Town of Los Altos Hills
City Council Special Meeting Minutes
Tuesday, February 7, 2023 – 9:30 a.m.

Council Chambers, 26379 Fremont Road, Los Altos Hills,
California
AGENDA ITEM #4.D
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TOWN OF LOS ALTOS HILLS February 16, 2023
Staff Report to the City Council
SUBJECT: JANUARY 2023 DISBURSEMENT LISTING
FROM: Sarina Revillar, Administrative Services Director APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council:

Receive the January 2023 Disbursements Report.

BACKGROUND:

The January 2023 Disbursements Report is submitted to the City Council for transparency.

DISCUSSION:

The disbursements totaled $979,780.93 and Electronic Fund Transfers totaled $275,001.62 with a grand total of $1,254,782.55. The summarized information shown below for payroll and related benefits, as well as other individual items greater than $10,000.

The payments itemized below total $866,948.35 or approximately 69% of total disbursements by check or electronic fund transfer for the month.

Amounts Vendors Description of Payments
$202,882.17 ADP- Payroll Services Primarily relates to the biweekly payroll ($78,713.37) and related
payroll taxes ($24,395.69) for the pay
date 01.13.23; and biweekly payroll
($76925.74) and related payroll taxes
($22,847.37) for the pay date

01.13.23 $111,690.97 CalPERS (retirement and
health), MetLife (dental), and
ICMA (deferred comp)
Employer contributions and employee
withholdings related to payroll
benefits
$16,220.00 Bayscape Management Monthly Maintenance & Deep Root Watering
$10,952.64 Carl Cahill 01.01.23 - 6.30.23 Retiree Medical Pre-Payments
$ 65,295.90 CSG Consultants Building Plan Review Services AGENDA ITEM #4.E
S.R.

P.P.

Staff Report to City Council Page 2
Disbursement Report
January 24, 2023
$36,874.00 Eaton and Associates IT Services, VMWARE Licensing & Auvik Network Monitoring
$12,733.63 Engeo Incorporated Geotech Services - Matadero Creek Repair
$14,542.80 FJM Truck Repair Inc. Trailer Rental
$19,754.90 Grassroots Ecology LAH Open Space Stewardship-2nd Qtr
$64,977.61 LC Builders Inc Town Hall Space Upgrade
$24,352.00 Oppenheimer Investigations
Group LLC
Monthly Investigation Services
$15,791.66 Phoenix Electric Company EV Charging Stations & Town Hall Renovations
$14,218.11 Santa Clara County - HHW HHW Program FY22 Year-End Reconciliation
$ 20,070.5 SHARP JPA Workers Compensation
$125,933.80 Syserco Energy Solutions, Inc. Material Procurement & Electrical Installation
$98,028.16 West Bay Sanitary District Maintenance Services Agreement $12,629.50 Misc. Recipients Refund deposits
$866,948.35 Total Payroll and Related Benefits and Individually Significant Items ≥ $10,000.

ENVIRONMENTAL REVIEW:

The Disbursement report is exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 15061(b)(3) of the CEQA Guidelines. 2022 CITY COUNCIL STRATEGIC PRIORITIES:

The report is for financial transparency and was not specified as one of the Council’s priorities in 2023.

FISCAL IMPACT:

There is no fiscal impact for the January 2023 Disbursements report.

ATTACHMENTS:

1. January 2023 Disbursements Report by Vendor
Prepared by: Michael Nakamura

2/2/2023 10:07:32 AM Page 1 of 18
Expense Approval Report
Town of Los Altos Hills By Vendor Name
Payment Dates 01/01/2023 - 01/31/2023
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: EBEID02 - EBEID, NILOUFAR & TAREK
EBEID, NILOUFAR & TAREK SD21-0013 01/19/2023 REFUND DEPOSIT 28160 STORY… 011-0000-2301 523.25 EBEID, NILOUFAR & TAREK VAR21-0001 01/19/2023 REFUND DEPOSIT 28160 STORY… 011-0000-2301 5,149.00 Vendor EBEID02 - EBEID, NILOUFAR & TAREK Total: 5,672.25 Vendor: ONEONTA02 - 24925 ONEONTA DRIVE, LLC
24925 ONEONTA DRIVE, LLC SD18-0029 01/19/2023 REFUND DEPOSIT 24925 ONEO… 011-0000-2301 2,326.00 24925 ONEONTA DRIVE, LLC SD18-0029-LD 01/19/2023 REFUND DEPOSIT 24925 ONEO… 011-0000-2303 5,000.00 Vendor ONEONTA02 - 24925 ONEONTA DRIVE, LLC Total: 7,326.00 Vendor: 26088DUVAL01 - 26088 DUVAL LLC
26088 DUVAL LLC SD19-0021 01/19/2023 REFUND DEPOSIT 26088 DUVAL…011-0000-2301 2,047.50 Vendor 26088DUVAL01 - 26088 DUVAL LLC Total: 2,047.50
Vendor: 34TH01 - 34TH STREET CONSULTING
34TH STREET CONSULTING 2023-15 01/19/2023 HARASSMENT PREVENTION SES…061-1480-6309 2,500.00 Vendor 34TH01 - 34TH STREET CONSULTING Total: 2,500.00
Vendor: AAA94063 - AAA RENTALS
AAA RENTALS 792576 01/05/2023 BOOM LIFT 34' HOLIDAY LIGHTS…011-4120-6361 261.50 Vendor AAA94063 - AAA RENTALS Total: 261.50
Vendor: ABRE01 - Abre LLC
Abre LLC SD19-0044 01/19/2023 REFUND DEPOSIT 13456 SOUTH…011-0000-2301 824.50 Abre LLC SD19-0044-LD 01/19/2023 REFUND DEPOSIT 13456 SOUTH…011-0000-2303 4,175.50 Vendor ABRE01 - Abre LLC Total: 5,000.00
Vendor: ACCOUNTEMPS90074 - ACCOUNTEMPS
ACCOUNTEMPS 60783475 01/19/2023 LABOR HOURS - ELCE THARP W… 011-1400-6111 2,237.20 ACCOUNTEMPS 60905298 01/19/2023 LABOR HOURS - ELCE THARP W… 011-1400-6111 1,789.76 ACCOUNTEMPS 60987119 01/19/2023 LABOR HOURS - ELCE THARP W… 011-1400-6111 2,237.20 Vendor ACCOUNTEMPS90074 - ACCOUNTEMPS Total: 6,264.16
Vendor: AG94551 - AG SECURITY SERVICES, INC.

AG SECURITY SERVICES, INC. A390803 01/19/2023 QUARTERLY MONITORING - 27… 061-1480-6199 129.78 AG SECURITY SERVICES, INC. A758993 01/19/2023 QUARTERLY STANDARD SERVICE…061-1480-6199 211.05 Vendor AG94551 - AG SECURITY SERVICES, INC. Total: 340.83 Vendor: ATKINS94023 - ALEXANDER ATKINS DESIGN INC
ALEXANDER ATKINS DESIGN INC 8230 01/19/2023 TOWN NEWSLETTER - MARCH I… 011-1700-6304 6,250.00 Vendor ATKINS94023 - ALEXANDER ATKINS DESIGN INC Total: 6,250.00 Vendor: ANIMAL95037 - ANIMAL DAMAGE MANAGEMENT
ANIMAL DAMAGE MANAGEME… 264624 01/05/2023 MONTHLY PEST CONTROL 10/2… 011-5100-6130 325.00 ANIMAL DAMAGE MANAGEME… 270395 01/05/2023 12/7/2022 MONTHLY PEST CO… 011-5100-6130 325.00 Vendor ANIMAL95037 - ANIMAL DAMAGE MANAGEMENT Total: 650.00 Vendor: BABU01 - BABU, VINOD
BABU, VINOD SD19-0015 01/19/2023 REFUND DEPOSIT 12835 DEER … 011-0000-2301 1,771.10 Vendor BABU01 - BABU, VINOD Total: 1,771.10
Vendor: BAKER01 - BAKER TILLY US, LLP
BAKER TILLY US, LLP BT2272577 01/05/2023 LAH CITY MGR PERFORMANCE … 011-1200-6199 1,300.00 Vendor BAKER01 - BAKER TILLY US, LLP Total: 1,300.00
Vendor: BAYSCAPE01 - BAYSCAPE MANAGEMENT, INC.

BAYSCAPE MANAGEMENT, INC. 27468 01/05/2023 TREE DEEP ROOT WATERING - … 011-5100-6122 360.00 BAYSCAPE MANAGEMENT, INC. 27703 01/05/2023 ARASTRADERO, FREMONT, FOO…011-4740-6125 5,500.00 BAYSCAPE MANAGEMENT, INC. 27703 01/05/2023 EDITH PARK 011-5100-6122 750.00 BAYSCAPE MANAGEMENT, INC. 27703 01/05/2023 WESTWIND COMMUNITY BARN 011-5300-6122 1,500.00 BAYSCAPE MANAGEMENT, INC. 27722 01/05/2023 DEEP ROOT WATERING - EDITH …011-5100-6122 360.00 BAYSCAPE MANAGEMENT, INC. 27969 01/19/2023 FOOTHILL COLLEGE & EL MONT… 011-4740-6125 1,900.00 Attachment 1

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 2 of 18
Vendor Name Payable Number Post Date Description (Item) Account Number Amount BAYSCAPE MANAGEMENT, INC. 27969 01/19/2023 FREMONTH RD PATH 011-4740-6125 3,000.00 BAYSCAPE MANAGEMENT, INC. 27969 01/19/2023 ARASTRADERO PATH 011-4740-6125 600.00 BAYSCAPE MANAGEMENT, INC. 27969 01/19/2023 EDITH PARK 011-5100-6122 750.00 BAYSCAPE MANAGEMENT, INC. 27969 01/19/2023 WESTWIND COMMUNITY BARN 011-5300-6122 1,500.00 Vendor BAYSCAPE01 - BAYSCAPE MANAGEMENT, INC. Total: 16,220.00 Vendor: BEAR95002 - BEAR ELECTRICAL SOLUTIONS, INC.

BEAR ELECTRICAL SOLUTIONS, I… 17414 01/19/2023 NOV 2022 TRAFFIC SIGNAL MAI… 011-4600-6145 551.25 BEAR ELECTRICAL SOLUTIONS, I… 17482 01/19/2023 NOV 2022 TRAFFIC SIGNAL MAI… 011-4600-6145 283.50 Vendor BEAR95002 - BEAR ELECTRICAL SOLUTIONS, INC. Total: 834.75 Vendor: BELLECCI01 - BELLECCI & ASSOCIATES INC
BELLECCI & ASSOCIATES INC 200065.00-0000004 01/05/2023 PROF SVCS OCT 2022 - UUD AR… 041-6900-6206 107.50 BELLECCI & ASSOCIATES INC 200065.00-0000005 01/05/2023 PROF SVCS NOV 2022 - UUD NE… 041-6900-6206 1,162.50 BELLECCI & ASSOCIATES INC 200065.00-0000006 01/19/2023 DEC'22 UUD IN AREA AROUND … 041-6900-6206 557.50 Vendor BELLECCI01 - BELLECCI & ASSOCIATES INC Total: 1,827.50 Vendor: BILGER01 - BILGER, BRENT
BILGER, BRENT SD18-0027 01/19/2023 REFUND DEPOSIT 25901 VINED… 011-0000-2301 1,502.25 Vendor BILGER01 - BILGER, BRENT Total: 1,502.25
Vendor: BOOK01 - BOOK SHELF LLC
BOOK SHELF LLC LLA19-0001 01/19/2023 REFUND DEPOSIT 13902 CAMP… 011-0000-2301 367.00 Vendor BOOK01 - BOOK SHELF LLC Total: 367.00
Vendor: BUCKLEY02 - BUCKLEY, MAUREEN
BUCKLEY, MAUREEN ER22-0004 01/19/2023 DEPOSIT REFUND 13830 PAGE … 011-0000-2301 2,126.20 Vendor BUCKLEY02 - BUCKLEY, MAUREEN Total: 2,126.20
Vendor: CCELECTRIC01 - C&C ELECTRIC INC
C&C ELECTRIC INC 01-12.27.22 01/19/2023 TOWN HALL INTERIOR RENOVA… 041-6900-6623 2,830.00 Vendor CCELECTRIC01 - C&C ELECTRIC INC Total: 2,830.00
Vendor: CAHILL94022 - CAHILL, CARL
CAHILL, CARL 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 RETIREE MEDIC… 061-1470-6032 10,952.64 Vendor CAHILL94022 - CAHILL, CARL Total: 10,952.64
Vendor: CBSC95833 - CALIFORNIA BUILDING STANDARDS COMMISSION CALIFORNIA BUILDING STANDA… 1.9.2023 01/19/2023 FEES COLLECTED 011-0000-2004 921.00 CALIFORNIA BUILDING STANDA… 1.9.2023 01/19/2023 SEISMIC EDUCATION 011-0000-4685 -92.10 Vendor CBSC95833 - CALIFORNIA BUILDING STANDARDS COMMISSION Total: 828.90 Vendor: CONSERVATION95814 - CALIFORNIA DEPARTMENT OF CONSERVATION CALIFORNIA DEPARTMENT OF … 1.9.2023 01/19/2023 FEES COLLECTED 011-0000-2002 2,782.27 CALIFORNIA DEPARTMENT OF … 1.9.2023 01/19/2023 SEISMIC EDUCATION 011-0000-4685 -139.11 Vendor CONSERVATION95814 - CALIFORNIA DEPARTMENT OF CONSERVATION Total: 2,643.16 Vendor: CARINO - CARINO, WILLIAM
CARINO, WILLIAM 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 RETIREE MEDIC… 061-1470-6032 9,510.66 Vendor CARINO - CARINO, WILLIAM Total: 9,510.66
Vendor: CASA01 - CASA DEL MAR
CASA DEL MAR 3-57558 01/19/2023 OGIO BACKPACK 061-1480-6398 1,691.00 Vendor CASA01 - CASA DEL MAR Total: 1,691.00
Vendor: CASSINGHAM - CASSINGHAM, MAUREEN
CASSINGHAM, MAUREEN 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 RETIREE MEDIC… 061-1470-6032 892.08 Vendor CASSINGHAM - CASSINGHAM, MAUREEN Total: 892.08
Vendor: CDWG60675 - CDW GOVERNMENT INC
CDW GOVERNMENT INC FT54736 01/19/2023 SOFTWARE - MS EA EXCH ONLN…061-1480-6313 66.60 Vendor CDWG60675 - CDW GOVERNMENT INC Total: 66.60
Vendor: CHEVRON28272 - CHEVRON AND TEXACO CARD SERVICES CHEVRON AND TEXACO CARD S… 86303825 01/19/2023 SMALL TOOL FUEL PURCHASES … 061-4300-6342 51.11 CHEVRON AND TEXACO CARD S… 86303825 01/19/2023 FLEET FUEL PURCHASES JANUA… 061-4400-6342 585.79 Vendor CHEVRON28272 - CHEVRON AND TEXACO CARD SERVICES Total: 636.90 Vendor: CHONG01 - CHONG, ELAINE
CHONG, ELAINE SD19-0082 01/19/2023 REFUND DEPOSIT 14525 MIRA… 011-0000-2301 2,211.50

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 3 of 18
Vendor Name Payable Number Post Date Description (Item) Account Number Amount CHONG, ELAINE SD19-0082-LD 01/19/2023 REFUND DEPOSIT 14525 MIRA… 011-0000-2303 5,000.00 Vendor CHONG01 - CHONG, ELAINE Total: 7,211.50
Vendor: CINTAS- UNIFORMS - CINTAS CORPORATION
CINTAS CORPORATION 4138548107 01/05/2023 HOUSEKEEPING 061-1480-6123 146.18 CINTAS CORPORATION 4138548107 01/05/2023 UNIFORMS 061-4300-6324 184.48 CINTAS CORPORATION 4140462909 01/05/2023 HOUSEKEEPING 061-1480-6123 304.48 CINTAS CORPORATION 4140462909 01/05/2023 UNIFORMS 061-4300-6324 187.99 CINTAS CORPORATION 4141175178 01/05/2023 HOUSEKEEPING 061-1480-6123 149.13 CINTAS CORPORATION 4141175178 01/05/2023 UNIFORMS 061-4300-6324 187.99 CINTAS CORPORATION 4139067409 01/19/2023 HOUSEKEEPING 12.1.2022 061-1480-6123 149.13 CINTAS CORPORATION 4139067409 01/19/2023 UNIFORMS 12.1.2022 061-4300-6324 187.99 CINTAS CORPORATION 4142648480 01/19/2023 HOUSEKEEPING 1.6.2023 061-1480-6123 149.13 CINTAS CORPORATION 4142648480 01/19/2023 UNIFORMS 1.6.2023 061-4300-6324 187.99 CINTAS CORPORATION 4143252042 01/19/2023 HOUSEKEEPING 1.12.2023 061-1480-6123 294.48 CINTAS CORPORATION 4143252042 01/19/2023 UNIFORMS 1.12.2023 061-4300-6324 197.99 Vendor CINTAS- UNIFORMS - CINTAS CORPORATION Total: 2,326.96 Vendor: MORGANHILL01 - CITY OF MORGAN HILL
CITY OF MORGAN HILL 2022-105 01/05/2023 ATTENDEE: JEREMY LOH 011-3100-6309 1,300.00 Vendor MORGANHILL01 - CITY OF MORGAN HILL Total: 1,300.00 Vendor: CODA01 - CODA TECHNOLOGY GROUP
CODA TECHNOLOGY GROUP 7078 01/19/2023 SERVICE TECHNICIAN - MARTY … 011-1700-6209 585.00 Vendor CODA01 - CODA TECHNOLOGY GROUP Total: 585.00
Vendor: COMCAST/JD01 - COMCAST/JEROME DIMALANTA
COMCAST/JEROME DIMALANTA EP21-0023 01/05/2023 REFUND DEPOSIT 26379 FREM… 011-0000-2301 918.50 COMCAST/JEROME DIMALANTA EP21-0024 01/05/2023 REFUND DEPOSIT 12816 EL MO… 011-0000-2301 918.50 COMCAST/JEROME DIMALANTA EP21-0033 01/05/2023 REFUND DEPOSIT 25955 ESTAC… 011-0000-2301 918.50 Vendor COMCAST/JD01 - COMCAST/JEROME DIMALANTA Total: 2,755.50 Vendor: COMCAST LOCAL ACCTS - COMCAST
COMCAST 16749-12.17.2022 01/19/2023 CABLE & INTERNET SVCS FROM… 061-1480-6362 259.58 Vendor COMCAST LOCAL ACCTS - COMCAST Total: 259.58
Vendor: COOPER01 - COOPER, CLAIRE ELIZABETH
COOPER, CLAIRE ELIZABETH 1.6.2023 01/13/2023 12/15/2022 REGULAR CITY CO… 011-1300-6209 100.00 Vendor COOPER01 - COOPER, CLAIRE ELIZABETH Total: 100.00 Vendor: COREMAIN01 - CORE & MAIN LP
CORE & MAIN LP S132129 01/19/2023 PERF PIPE 100' & 4X100 DRAIN … 011-5300-6337 286.39 Vendor COREMAIN01 - CORE & MAIN LP Total: 286.39
Vendor: CORELOGIC75284 - CORELOGIC INFORMATION SOLUTIONS, INC.

CORELOGIC INFORMATION SOL… 30644685 01/19/2023 RQ2 FLAT FEE LIMITED PACKAG… 011-3100-6338 103.00 CORELOGIC INFORMATION SOL… 30644685 01/19/2023 RQ2 FLAT FEE LIMITED PACKAG… 011-3200-6338 103.00 Vendor CORELOGIC75284 - CORELOGIC INFORMATION SOLUTIONS, INC. Total: 206.00 Vendor: CORRIGAN02 - CORRIGAN, SEAN
CORRIGAN, SEAN SD18-0044 01/19/2023 REFUND DEPOSIT 13920 FREM… 011-0000-2301 3,001.25 Vendor CORRIGAN02 - CORRIGAN, SEAN Total: 3,001.25
Vendor: SCCENVIRONMENTAL - COUNTY OF SANTA CLARA - DEPT. OF ENVIRONMENTAL HEALTH COUNTY OF SANTA CLARA - DE… IN1271660 01/05/2023 HAZMAT STORAGE 061-1480-6315 516.00 Vendor SCCENVIRONMENTAL - COUNTY OF SANTA CLARA - DEPT. OF ENVIRONMENTAL HEALTH Total: 516.00 Vendor: SCCTSS01 - COUNTY OF SANTA CLARA-TECHNOLOGY SERVICES SOLUTIONS COUNTY OF SANTA CLARA-TEC… 1800083974 01/19/2023 AERIAL IMAGERY & LIDAR ACQU…011-3100-6199 3,542.90 Vendor SCCTSS01 - COUNTY OF SANTA CLARA-TECHNOLOGY SERVICES SOLUTIONS Total: 3,542.90 Vendor: CSG94404 - CSG CONSULTANTS INC
CSG CONSULTANTS INC B221762 01/05/2023 BUILDING PLAN REVIEW SVCS S… 011-3200-6114 17,571.49 CSG CONSULTANTS INC B222115 01/05/2023 BLDG PLAN REVIEW SVCS NOV… 011-3200-6114 36,574.41 CSG CONSULTANTS INC 48061 01/19/2023 CIP ASSISTANCE PROGRAM M… 011-3300-6206 7,550.00 CSG CONSULTANTS INC 48061 01/19/2023 CIP ASSISTANCE PROGRAM M… 041-6900-6206 600.00 CSG CONSULTANTS INC 48061 01/19/2023 CIP ASSISTANCE PROGRAM M… 042-6900-6206 1,400.00

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 4 of 18
Vendor Name Payable Number Post Date Description (Item) Account Number Amount CSG CONSULTANTS INC 48061 01/19/2023 CIP ASSISTANCE PROGRAM M… 042-6900-6206 1,600.00 Vendor CSG94404 - CSG CONSULTANTS INC Total: 65,295.90
Vendor: CURTIS95126 - CURTIS HORTICULTURE, INC.

CURTIS HORTICULTURE, INC. 20486 01/05/2023 NOVEMBER 2022 LANDSCAPE … 061-1480-6122 1,860.00 CURTIS HORTICULTURE, INC. 20559 01/19/2023 DEC 2022 LANDSCAPE MAINTE… 061-1480-6122 1,860.00 Vendor CURTIS95126 - CURTIS HORTICULTURE, INC. Total: 3,720.00 Vendor: DAILY94301 - DAILY POST
DAILY POST 82650 01/19/2023 AD# 93119 3x15 RFP MULTI-F… 011-3100-6207 562.50 DAILY POST 82651 01/19/2023 AD# 92802 DEC 1 NOTICE 011-3100-6207 375.00 DAILY POST 82652 01/19/2023 AD# 93118 3x15 RFP ENVIRON… 011-3100-6207 562.50 DAILY POST 82653 01/19/2023 AD# 92875 DEC 2 NOTICE 011-3100-6207 375.00 Vendor DAILY94301 - DAILY POST Total: 1,875.00
Vendor: DAVIDSON01 - DAVIDSON, CRISTINA ANN
DAVIDSON, CRISTINA ANN VAR19-0015 01/19/2023 REFUND DEPOSIT 14123 TRACY… 011-0000-2301 1,479.00 Vendor DAVIDSON01 - DAVIDSON, CRISTINA ANN Total: 1,479.00 Vendor: DAVOUD01 - DAVOUD, GILBERT
DAVOUD, GILBERT SD18-0052 01/19/2023 REFUND DEPOSIT 12305 BRION… 011-0000-2301 1,618.50 Vendor DAVOUD01 - DAVOUD, GILBERT Total: 1,618.50
Vendor: DEGREE01 - DEGREE HVAC, INC.

DEGREE HVAC, INC. 31046 01/19/2023 THERMOSTAT MAINTENANCE &…061-1480-6199 946.37 Vendor DEGREE01 - DEGREE HVAC, INC. Total: 946.37
Vendor: DELLMARKETING - DELL MARKETING LP
DELL MARKETING LP 10641935615 01/05/2023 3x WD22TB4 THUNDERBOLT D… 061-1480-6502 8,240.76 Vendor DELLMARKETING - DELL MARKETING LP Total: 8,240.76 Vendor: DENNDEY01 - DENNEDY, THOMAS
DENNEDY, THOMAS SD19-0045 01/19/2023 REFUND DEPOSIT 12331 STONE…011-0000-2301 820.21 Vendor DENNDEY01 - DENNEDY, THOMAS Total: 820.21
Vendor: DMV95818 - DEPARTMENT OF MOTOR VEHICLES
DEPARTMENT OF MOTOR VEHI… 9AJL869-2023 01/05/2023 KNDCC3LG9N5145482 2023 RE… 041-6910-6616 663.00 DEPARTMENT OF MOTOR VEHI… 9AJL870-2023 01/05/2023 KNDCC3LG2N5145503 2023 RE… 041-6910-6616 663.00 Vendor DMV95818 - DEPARTMENT OF MOTOR VEHICLES Total: 1,326.00 Vendor: DOWD - DOWD, PATRICIA
DOWD, PATRICIA 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 RETIREE MEDIC… 061-1470-6032 892.08 Vendor DOWD - DOWD, PATRICIA Total: 892.08
Vendor: EATON03 - EATON AND ASSOCIATES
EATON AND ASSOCIATES 87665 01/05/2023 ELEVATE IT MANAGED SERVICES…061-1480-6111 11,727.00 EATON AND ASSOCIATES 87717 01/05/2023 VMWARE LICENSING & SUPPOR…041-6900-6313 13,420.00 EATON AND ASSOCIATES 87839 01/19/2023 AUVIK NETWORK MONITORING…061-1480-6111 11,727.00 Vendor EATON03 - EATON AND ASSOCIATES Total: 36,874.00
Vendor: EBCON01 - EBCON CORPORATION
EBCON CORPORATION EP21-0006 01/05/2023 REFUND DEPOSIT 26750 SHADY…011-0000-2301 898.50 EBCON CORPORATION EP21-0006 01/05/2023 REFUND DEPOSIT 26750 SHADY…011-0000-2303 2,000.00 Vendor EBCON01 - EBCON CORPORATION Total: 2,898.50
Vendor: SIGNIFICANT95125 - ECAPITAL COMMERCIAL FINANCE GROUP ECAPITAL COMMERCIAL FINAN… 111422 01/05/2023 SUPPLIES DELIVERED 11/14/20… 061-1480-6118 587.31 ECAPITAL COMMERCIAL FINAN… 111553 01/05/2023 JANITORIAL SVCS: DECEMBER 2… 011-5100-6123 395.00 ECAPITAL COMMERCIAL FINAN… 111554 01/05/2023 JANITORIAL SVCS - DECEMBER … 061-1480-6123 1,979.00 ECAPITAL COMMERCIAL FINAN… 111555 01/05/2023 JANITORIAL SERVICE: DECEMBE… 011-5300-6123 405.00 Vendor SIGNIFICANT95125 - ECAPITAL COMMERCIAL FINANCE GROUP Total: 3,366.31 Vendor: ELMILIGY01 - ELMILIGY, EDWARD AND MELISSA
ELMILIGY, EDWARD AND MELIS… P10317-LD 01/19/2023 REFUND DEPOSIT 27470 BLACK… 011-0000-2303 5,000.00 Vendor ELMILIGY01 - ELMILIGY, EDWARD AND MELISSA Total: 5,000.00 Vendor: ENGEO94583 - ENGEO INCORPORATED
ENGEO INCORPORATED 275745 01/05/2023 MATADERO CREEK REPAIR - PR… 045-6900-6143 6,970.00 ENGEO INCORPORATED 278088 01/19/2023 MATADERO CREEK REPAIR - AS… 045-6900-6206 4,625.13

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 5 of 18
Vendor Name Payable Number Post Date Description (Item) Account Number Amount ENGEO INCORPORATED 278759 01/19/2023 MATADERO CREEK REPAIR - NE… 045-6900-6206 1,138.50 Vendor ENGEO94583 - ENGEO INCORPORATED Total: 12,733.63 Vendor: EVILSIZER - EVILSIZER, JEANNE
EVILSIZER, JEANNE 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 RETIREE MEDIC… 061-1470-6032 2,690.16 Vendor EVILSIZER - EVILSIZER, JEANNE Total: 2,690.16
Vendor: FEY01 - FEY, ASHLEY AND SCOTT
FEY, ASHLEY AND SCOTT SD19-0071 01/19/2023 REFUND DEPOSIT 26898 DEZAH…011-0000-2301 2,875.16 Vendor FEY01 - FEY, ASHLEY AND SCOTT Total: 2,875.16
Vendor: FJMTRUCK01 - FJM TRUCK REPAIR, INC
FJM TRUCK REPAIR, INC US001006488 01/05/2023 TRAILER RENTAL 061-4300-6614 14,542.80 Vendor FJMTRUCK01 - FJM TRUCK REPAIR, INC Total: 14,542.80 Vendor: FLIP01 - FLIP FUND LLC
FLIP FUND LLC SD18-0019-LD 01/19/2023 REFUND DEPOSIT 11768 MARIA…011-0000-2303 5,000.00 Vendor FLIP01 - FLIP FUND LLC Total: 5,000.00
Vendor: FREYER94401 - FREYER & LAURETA, INC.

FREYER & LAURETA, INC. 22-668 01/19/2023 ENGINEERING SERVICES NOVE… 051-4800-6206 3,703.85 Vendor FREYER94401 - FREYER & LAURETA, INC. Total: 3,703.85 Vendor: FUNG03 - FUNG, LAWRENCE
FUNG, LAWRENCE SD18-0024 01/19/2023 REFUND DEPOSIT 14556 HARV… 011-0000-2301 997.25 Vendor FUNG03 - FUNG, LAWRENCE Total: 997.25
Vendor: GENG01 - GENG, CHAO & LI JING
GENG, CHAO & LI JING 12.28.22 01/05/2023 NBS SEWER ASSESSMENT FEE R… 051-0000-4665 4,953.57 Vendor GENG01 - GENG, CHAO & LI JING Total: 4,953.57
Vendor: GIULIANI95361 - GIULIANI & KULL - SAN JOSE, INC GIULIANI & KULL - SAN JOSE, INC 17114 01/05/2023 BARLEY HILL/S FORK LN PATH… 011-4740-6199 3,900.00 Vendor GIULIANI95361 - GIULIANI & KULL - SAN JOSE, INC Total: 3,900.00 Vendor: GLADWELL92352 - GLADWELL GOVERNMENTAL SERVICES, INC.

GLADWELL GOVERNMENTAL SE…5041 01/19/2023 RECORDS RETENTION LEGAL RE… 011-1300-6209 300.00 Vendor GLADWELL92352 - GLADWELL GOVERNMENTAL SERVICES, INC. Total: 300.00 Vendor: GRAINGER60038 - GRAINGER
GRAINGER 9501612957 01/05/2023 LITHIUM BATTERY 061-1480-6118 80.45 GRAINGER 9501612965 01/05/2023 LANTERN BATTERY 061-1480-6118 207.16 GRAINGER 9501612973 01/19/2023 LANTERN BATTERY 061-1480-6118 126.98 GRAINGER 9546976680 01/19/2023 UNIVERSAL FRONT MATS 061-4400-6399 296.96 GRAINGER 9550285549 01/19/2023 INDOOR CONVEX MIRROR 061-1480-6118 201.55 GRAINGER 9550285556 01/19/2023 BULLETIN BOARD 061-1480-6118 249.06 Vendor GRAINGER60038 - GRAINGER Total: 1,162.16
Vendor: GRASSROOTS01 - GRASSROOTS ECOLOGY
GRASSROOTS ECOLOGY lahBP1222 01/17/2023 FY22-23 Q2 PAYMENT - LAH OP… 041-6900-6122 19,754.90 Vendor GRASSROOTS01 - GRASSROOTS ECOLOGY Total: 19,754.90 Vendor: GREEN95112 - GREENWASTE RECOVERY INC
GREENWASTE RECOVERY INC 030623 01/05/2023 YARD WASTE - OCTOBER 2022 B…011-0000-1110 4,599.74 GREENWASTE RECOVERY INC 030763 01/19/2023 BILLING FOR NOVEMBER 2022 -…011-0000-1110 4,680.59 Vendor GREEN95112 - GREENWASTE RECOVERY INC Total: 9,280.33 Vendor: GREGS94401 - GREG'S TRUCKING SERVICE, INC.

GREG'S TRUCKING SERVICE, INC. 202211-82 01/05/2023 DUMP FEES - ELENA RD & PURI… 011-4500-6142 1,560.00 GREG'S TRUCKING SERVICE, INC. 202211-82 01/05/2023 DUMP FEES - ELENA RD & PURI… 011-4600-6149 1,560.00 Vendor GREGS94401 - GREG'S TRUCKING SERVICE, INC. Total: 3,120.00 Vendor: HAUSER01 - HAUSER, BRAD & SARAH
HAUSER, BRAD & SARAH SP21-0001 01/19/2023 REFUND DEPOSIT 14700 MANU… 011-0000-2301 950.00 Vendor HAUSER01 - HAUSER, BRAD & SARAH Total: 950.00
Vendor: HAYWARD93901 - HAYWARD LUMBER
HAYWARD LUMBER 37319481-00 01/05/2023 6 X 8 PEELER CORE - WATER BA… 011-5300-6337 2,336.70 Vendor HAYWARD93901 - HAYWARD LUMBER Total: 2,336.70

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 6 of 18
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: HENG01 - HENG, JIUNN
HENG, JIUNN SD18-0045-LD 01/19/2023 REFUND DEPOSIT 25383 LA RE… 011-0000-2303 5,000.00 Vendor HENG01 - HENG, JIUNN Total: 5,000.00
Vendor: HIGBY - HIGBY, DOMENICA CINDY
HIGBY, DOMENICA CINDY 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 RETIREE MEDIC… 061-1470-6032 4,134.24 Vendor HIGBY - HIGBY, DOMENICA CINDY Total: 4,134.24
Vendor: HOLBROOK - HOLBROOK, ALAN
HOLBROOK, ALAN 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 RETIREE MEDIC… 061-1470-6032 6,275.94 Vendor HOLBROOK - HOLBROOK, ALAN Total: 6,275.94
Vendor: HOLLENBECK01 - HOLLENBECK, JAY
HOLLENBECK, JAY VAR21-0005 01/19/2023 REFUND DEPOSIT 25560 FERNH…011-0000-2301 4,004.75 Vendor HOLLENBECK01 - HOLLENBECK, JAY Total: 4,004.75
Vendor: HOME85062 - HOME DEPOT CREDIT SERVICES
HOME DEPOT CREDIT SERVICES 3361643 01/05/2023 60LB SAKRETE CONCRETE MIX 061-4300-6399 230.92 HOME DEPOT CREDIT SERVICES 4621881 01/19/2023 WWBARN LIGHTS 043-6900-6118 120.82 HOME DEPOT CREDIT SERVICES 5694257 01/19/2023 VACUUM 061-4300-6123 555.61 HOME DEPOT CREDIT SERVICES 6351947 01/19/2023 WWBARN WATER BARS 043-6900-6622 213.93 Vendor HOME85062 - HOME DEPOT CREDIT SERVICES Total: 1,121.28 Vendor: INTERSTATE94070 - INTERSTATE TRAFFIC CONTROL PRODUCTS, INC.

INTERSTATE TRAFFIC CONTROL …254328 01/05/2023 ROAD WORK AHEAD SIGN, FLA… 041-6900-6341 549.50 INTERSTATE TRAFFIC CONTROL …254475 01/19/2023 PCBM 2-WAY WHITE 011-4600-6399 1,728.13 Vendor INTERSTATE94070 - INTERSTATE TRAFFIC CONTROL PRODUCTS, INC. Total: 2,277.63 Vendor: IWORQ01 - IWORQ SYSTEMS INC
IWORQ SYSTEMS INC 199323 12/30/2022 PUB WORKS PKG - WORK/SIGN… 011-3300-6313 4,000.00 Vendor IWORQ01 - IWORQ SYSTEMS INC Total: 4,000.00
Vendor: FUNFLICKS01 - JACKMAN ENTERPRISES LLC, DBA FUNFLICKS SF BAY AREA JACKMAN ENTERPRISES LLC, DB…12.22.2022 01/05/2023 OUTDOOR MOVIE EQUIPMENT …011-4120-6361 611.27 Vendor FUNFLICKS01 - JACKMAN ENTERPRISES LLC, DBA FUNFLICKS SF BAY AREA Total: 611.27 Vendor: JOST - JOST, KAREN
JOST, KAREN 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 061-1470-6032 2,493.00 Vendor JOST - JOST, KAREN Total: 2,493.00
Vendor: KARLSSON01 - KARLSSON, LARS
KARLSSON, LARS APL21-0003 01/19/2023 REFUND DEPOSIT 12255 MENA… 011-0000-2301 57.50 Vendor KARLSSON01 - KARLSSON, LARS Total: 57.50
Vendor: KHOSRAVI01 - KHOSRAVI, FARHAD OR FLORA
KHOSRAVI, FARHAD OR FLORA SD19-0063 01/19/2023 REFUND DEPOSIT 25698 ELENA… 011-0000-2301 477.50 Vendor KHOSRAVI01 - KHOSRAVI, FARHAD OR FLORA Total: 477.50 Vendor: KIA02 - KIA MOTORS FINANCE
KIA MOTORS FINANCE 89147-12.26.2022 01/19/2023 2022 KIA NIRO EV 2215089147 … 041-6910-6616 361.06 KIA MOTORS FINANCE 89803-12.26.22 01/19/2023 2022 KIA NERO EV 2215089803… 041-6910-6616 361.06 Vendor KIA02 - KIA MOTORS FINANCE Total: 722.12
Vendor: KWONG02 - KWONG, DAVID
KWONG, DAVID SD19-0070 01/19/2023 REFUND DEPOSIT 13964 FREM… 011-0000-2301 240.00 KWONG, DAVID VAR19-0014 01/19/2023 REFUND DEPOSIT 13965 FREM… 011-0000-2301 119.00 Vendor KWONG02 - KWONG, DAVID Total: 359.00
Vendor: LALI01 - LALI, RAJVINDER K
LALI, RAJVINDER K 5284 01/26/2023 PHOTOGRAPHY SERVICES - TEDx…011-4120-6361 600.00 Vendor LALI01 - LALI, RAJVINDER K Total: 600.00
Vendor: LCBUILDERS01 - LC BUILDERS, INC
LC BUILDERS, INC 2 01/19/2023 TOWN HALL RENOVATION 019-6900-6623 64,977.61 Vendor LCBUILDERS01 - LC BUILDERS, INC Total: 64,977.61 Vendor: LEA01 - LEA & BRAZE ENGINEERING INC
LEA & BRAZE ENGINEERING INC 77244 01/05/2023 SUMMERHILL PATHWAY PROJ - …042-6900-6206 2,242.00 LEA & BRAZE ENGINEERING INC 77186 01/19/2023 EDGERTON RD PATHWAY IMPR… 042-6900-6206 3,942.50

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 7 of 18
Vendor Name Payable Number Post Date Description (Item) Account Number Amount LEA & BRAZE ENGINEERING INC 78054 01/19/2023 SUMMERHILL AVE PATHWAY I… 042-6900-6206 142.50 Vendor LEA01 - LEA & BRAZE ENGINEERING INC Total: 6,327.00 Vendor: LEE20 - LEE, GEORGE
LEE, GEORGE P40117 01/19/2023 REFUND DEPOSIT 14525 MIRA… 011-0000-2301 2,050.50 Vendor LEE20 - LEE, GEORGE Total: 2,050.50
Vendor: LEE24 - LEE, ILBOK OR WOON
LEE, ILBOK OR WOON SD18-0004 01/19/2023 REFUND DEPOSIT 13673 LA PA… 011-0000-2301 734.05 Vendor LEE24 - LEE, ILBOK OR WOON Total: 734.05
Vendor: LIANG01 - LIANG, WEI LIEN
LIANG, WEI LIEN 1.5.23-1 01/19/2023 SCANNING OF FULL SIZE PERMIT…041-6900-6623 43.61 LIANG, WEI LIEN 1.5.23-1 01/19/2023 SCANNING OF FULL SIZE PERMIT…041-6900-6623 65.41 LIANG, WEI LIEN 1.5.23-1 01/19/2023 SCANNING OF FULL SIZE PERMIT…041-6900-6623 61.05 Vendor LIANG01 - LIANG, WEI LIEN Total: 170.07
Vendor: LINEBARGER - LINEBARGER, DAVID
LINEBARGER, DAVID 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 RETIREE MEDIC… 061-1470-6032 1,614.12 Vendor LINEBARGER - LINEBARGER, DAVID Total: 1,614.12
Vendor: LISTON01 - LISTON, KATHLEEN
LISTON, KATHLEEN EP22-0101 01/05/2023 REFUND DEPOSIT 25240 CANTA…011-0000-2301 1,000.00 Vendor LISTON01 - LISTON, KATHLEEN Total: 1,000.00
Vendor: LAHARDWARE94022 - LOS ALTOS HARDWARE INC
LOS ALTOS HARDWARE INC 18399/1 01/05/2023 50LB CONCRETE MIX - MANHO… 061-4300-6398 78.50 LOS ALTOS HARDWARE INC 18489/1 01/05/2023 HARDWARE - TOWN HALL PARTS 061-1480-6118 1.69 LOS ALTOS HARDWARE INC 18497/1 01/05/2023 KEYS 061-4300-6398 10.89 LOS ALTOS HARDWARE INC 18715/1 01/05/2023 HARDWARE & REBAR 011-5300-6399 233.23 LOS ALTOS HARDWARE INC 19110/1 01/05/2023 SUPPLIES FOR TOWN HALL CLE… 061-1480-6118 18.53 LOS ALTOS HARDWARE INC 19111/1 01/05/2023 SUPPLIES FOR ROOF LEAK REPA… 061-1480-6118 228.56 LOS ALTOS HARDWARE INC 18807/1 01/19/2023 SPACKLING, MENDING PLATE, … 061-1480-6118 72.21 LOS ALTOS HARDWARE INC 18840/1 01/19/2023 20" WHT SHELF BRACKET 061-1480-6118 32.72 LOS ALTOS HARDWARE INC 18876/1 01/19/2023 1/4" X 4" X 6" SDS+ BIT & 75PK … 061-1480-6118 53.44 LOS ALTOS HARDWARE INC 18950/1 01/19/2023 TOWN HALL MOVE 061-1480-6118 16.30 LOS ALTOS HARDWARE INC 19001/1 01/19/2023 DOUBLE SIDED TAPE 061-1480-6118 32.73 LOS ALTOS HARDWARE INC 19328/1 01/19/2023 SUPPLIES FOR MELISSA & TREE… 061-4300-6399 66.01 Vendor LAHARDWARE94022 - LOS ALTOS HARDWARE INC Total: 844.81 Vendor: CRIER94022 - LOS ALTOS TOWN CRIER
LOS ALTOS TOWN CRIER 68480 01/19/2023 12/28/2022 AD: LEGALS 011-1300-6207 412.50 LOS ALTOS TOWN CRIER 68481 01/19/2023 12/28/2022 AD: LEGALS 011-1300-6207 178.13 LOS ALTOS TOWN CRIER 68594 01/19/2023 1/18/23 AD - LEGALS: 1 X 17.75" 011-3100-6207 221.88 Vendor CRIER94022 - LOS ALTOS TOWN CRIER Total: 812.51
Vendor: LYNX95010 - LYNX TECHNOLOGIES, INC.

LYNX TECHNOLOGIES, INC. 9758 01/05/2023 GIS PROFESSIONAL SERVICES IN…011-3100-6199 1,950.00 Vendor LYNX95010 - LYNX TECHNOLOGIES, INC. Total: 1,950.00 Vendor: MAGELLAN19178 - MAGELLAN BEHAVIORAL HEALTH INC.

MAGELLAN BEHAVIORAL HEAL… 0031242718 01/05/2023 PROF SVCS 1/2023 - 3/2023 CL… 061-1470-6037 828.07 Vendor MAGELLAN19178 - MAGELLAN BEHAVIORAL HEALTH INC. Total: 828.07 Vendor: KEAR94306 - MARY KEAR
MARY KEAR 1.3.22 01/19/2023 TEDx RENTAL ITEMS 011-4120-6361 711.00 Vendor KEAR94306 - MARY KEAR Total: 711.00
Vendor: MAZE94523 - MAZE AND ASSOCIATES
MAZE AND ASSOCIATES 47667 01/05/2023 AUDIT INCL. ACFR/MGMT LETT… 011-1400-6203 7,414.00 Vendor MAZE94523 - MAZE AND ASSOCIATES Total: 7,414.00
Vendor: MCKAY01 - MCKAY, RYAN
MCKAY, RYAN ER22-0003 01/19/2023 REFUND DEPOSIT 13480 WILDC… 011-0000-2301 955.70 Vendor MCKAY01 - MCKAY, RYAN Total: 955.70
Vendor: MENDOZA - MENDOZA, ARTHUR
MENDOZA, ARTHUR 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 RETIREE MEDIC… 061-1470-6032 4,134.24 Vendor MENDOZA - MENDOZA, ARTHUR Total: 4,134.24

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 8 of 18
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: METRO94002 - METRO MOBILE COMMUNICATIONS INC.

METRO MOBILE COMMUNICAT… 221222 01/05/2023 METRONET VHF REPEATER SERV…061-4300-6362 160.00 METRO MOBILE COMMUNICAT… 230133 01/19/2023 VHF REPEATER SERVICE - 8 RAD… 061-4300-6362 160.00 Vendor METRO94002 - METRO MOBILE COMMUNICATIONS INC. Total: 320.00 Vendor: METLIFE64180 - METROPOLITAN LIFE INSURANCE COMPANY METROPOLITAN LIFE INSURAN… TS05957300-12.14.22 01/05/2023 DENTAL INSURANCE TS059573… 061-0000-2233 5,078.02 Vendor METLIFE64180 - METROPOLITAN LIFE INSURANCE COMPANY Total: 5,078.02 Vendor: MICHAEL01 - MICHAEL BAKER INTERNATIONAL INC.

MICHAEL BAKER INTERNATION… 1167439 01/05/2023 2023-2031 HOUSING ELEMENT… 011-3100-6202 6,250.00 Vendor MICHAEL01 - MICHAEL BAKER INTERNATIONAL INC. Total: 6,250.00 Vendor: REGIONAL94022 - MIDPENINSULA REGIONAL OPEN SPACE DISTRICT MIDPENINSULA REGIONAL OPE… 1.6.2023 01/19/2023 CODY EINFALT 011-1200-6398 67.05 MIDPENINSULA REGIONAL OPE… 1.6.2023 01/19/2023 MIKE SCHLOETTER 011-1200-6398 67.05 MIDPENINSULA REGIONAL OPE… 1.6.2023 01/19/2023 PETER PIRNEJAD 011-1200-6398 67.05 Vendor REGIONAL94022 - MIDPENINSULA REGIONAL OPEN SPACE DISTRICT Total: 201.15 Vendor: MILLER05 - MILLER, TIFFANY
MILLER, TIFFANY 001-04 01/05/2023 PURISSIMA PARK CONCESSION … 041-6900-6199 1,595.00 MILLER, TIFFANY 002-04 01/19/2023 10/4/22 - 12/7/22 TOWN HALL … 041-6900-6209 2,090.00 Vendor MILLER05 - MILLER, TIFFANY Total: 3,685.00
Vendor: MISSION01 - MissionSquare
MissionSquare 100276-PD 12.30.22 01/05/2023 PLAN 100276-PPE 12.30.22 061-0000-2204 1,253.84 MissionSquare 100316-PD 12.30.22 01/05/2023 PLAN 100316-PPE 12.30.22 061-0000-2204 6,818.22 MissionSquare 304465-PD 12.30.22 01/05/2023 PLAN 3004465-PPE 12.30.22 061-0000-2204 7,353.47 MissionSquare 100276-PD 1.13.2023 01/19/2023 PLAN 100276 401A & 401A ER … 061-0000-2204 1,253.84 MissionSquare 100316-PD 1.13.2023 01/19/2023 PLAN 100316 41A ER MATCH &… 061-0000-2204 7,117.97 MissionSquare 304465-PD 1.13.2023 01/19/2023 PLAN 304465 ICMA-RC DEDUCT…061-0000-2204 15,774.18 Vendor MISSION01 - MissionSquare Total: 39,571.52
Vendor: MO01 - MO, WENNIE
MO, WENNIE EP22-0065 01/05/2023 REFUND DEPOSIT 2121 OLD PA… 011-0000-2301 797.00 MO, WENNIE EP22-0065-PB 01/05/2023 REFUND DEPOSIT 2121 OLD PA… 011-0000-2303 3,000.00 Vendor MO01 - MO, WENNIE Total: 3,797.00
Vendor: MOUSAVI01 - MOUSAVI, NADER
MOUSAVI, NADER MA22-0001 01/19/2023 REFUND DEPOSIT 26070 NEWB… 011-0000-2301 437.80 Vendor MOUSAVI01 - MOUSAVI, NADER Total: 437.80
Vendor: MP01 - MP NEXLEVEL OF CALIFORNIA
MP NEXLEVEL OF CALIFORNIA EP21-0045 01/05/2023 REFUND DEPOSIT 28013 ARAST… 011-0000-2301 777.50 MP NEXLEVEL OF CALIFORNIA EP21-0045-PB 01/05/2023 REFUND DEPOSIT 28013 ARAST… 011-0000-2303 2,000.00 Vendor MP01 - MP NEXLEVEL OF CALIFORNIA Total: 2,777.50 Vendor: MRG94526 - MUNICIPAL RESOURCE GROUP, LLC
MUNICIPAL RESOURCE GROUP, …03-22-732 01/19/2023 STANDING COMMITTEE PROCE… 011-1700-6209 100.00 MUNICIPAL RESOURCE GROUP, …03-22-732 01/19/2023 STANDING COMMITTEE PROCE… 011-1700-6209 100.00 MUNICIPAL RESOURCE GROUP, …03-22-732 01/19/2023 STANDING COMMITTEE PROCE… 011-1700-6209 100.00 MUNICIPAL RESOURCE GROUP, …03-22-732 01/19/2023 STANDING COMMITTEE PROCE… 011-1700-6209 100.00 MUNICIPAL RESOURCE GROUP, …03-22-732 01/19/2023 STANDING COMMITTEE PROCE… 011-1700-6209 100.00 MUNICIPAL RESOURCE GROUP, …03-22-732 01/19/2023 STANDING COMMITTEE PROCE… 011-1700-6209 100.00 MUNICIPAL RESOURCE GROUP, …03-22-732 01/19/2023 STANDING COMMITTEE PROCE… 011-1700-6209 100.00 MUNICIPAL RESOURCE GROUP, …03-22-732 01/19/2023 STANDING COMMITTEE PROCE… 011-1700-6209 100.00 MUNICIPAL RESOURCE GROUP, …03-22-732 01/19/2023 STANDING COMMITTEE PROCE… 011-1700-6209 100.00 Vendor MRG94526 - MUNICIPAL RESOURCE GROUP, LLC Total: 900.00 Vendor: NAGARAJ01 - NAGARAJ, ASHWATH OR VILEENA
NAGARAJ, ASHWATH OR VILEE… SD18-0021 01/19/2023 REFUND DEPOSIT 25769 ELENA… 011-0000-2301 9,693.30 Vendor NAGARAJ01 - NAGARAJ, ASHWATH OR VILEENA Total: 9,693.30 Vendor: NBS92592 - NBS GOVERNMENT FINANCE GROUP
NBS GOVERNMENT FINANCE G… 202212-2627 01/05/2023 PROF SVCS 1/2023 - 3/2023 - W…031-0100-6203 1,313.18 NBS GOVERNMENT FINANCE G… 202212-2901 01/19/2023 W LOYOLA CONTINUING DISCL… 031-0100-6203 2,200.92 Vendor NBS92592 - NBS GOVERNMENT FINANCE GROUP Total: 3,514.10

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 9 of 18
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: NEXT01 - NEXT LEVEL
NEXT LEVEL EP21-0116 01/05/2023 REFUND DEPOSIT FREMONT RD…011-0000-2301 1,500.20 Vendor NEXT01 - NEXT LEVEL Total: 1,500.20
Vendor: NELSON94062 - O. NELSON & SON, INC.

O. NELSON & SON, INC. 34 01/05/2023 PROPOSAL & CONTRACT #45 EL…011-4600-6151 4,172.00 Vendor NELSON94062 - O. NELSON & SON, INC. Total: 4,172.00 Vendor: OAK95031 - OAK ALARM CO
OAK ALARM CO 27023 01/05/2023 QUARTERLY MONITORING O'K… 051-4800-6118 75.00 Vendor OAK95031 - OAK ALARM CO Total: 75.00
Vendor: OGRADY94043 - O'GRADY PAVING INC
O'GRADY PAVING INC 6635 01/19/2023 STREET SWEEPING - EOC RELAT… 011-4600-6199 1,840.00 Vendor OGRADY94043 - O'GRADY PAVING INC Total: 1,840.00 Vendor: OPPENHEIMER01 - OPPENHEIMER INVESTIGATIONS GROUP LLC OPPENHEIMER INVESTIGATIONS…3520 01/05/2023 NOVEMBER 2022 INVESTIGATI… 011-1500-6112 14,506.50 OPPENHEIMER INVESTIGATIONS…3372.1 01/19/2023 INVESTIGATION SVCS OCTOBER… 011-1500-6112 9,845.50 Vendor OPPENHEIMER01 - OPPENHEIMER INVESTIGATIONS GROUP LLC Total: 24,352.00 Vendor: OREILLY - O'REILLY AUTOMOTIVE, INC.

O'REILLY AUTOMOTIVE, INC. 2553-151291.1 01/05/2023 RADIATOR CAP FOR 2003 TOYO… 061-4400-6351 12.22 O'REILLY AUTOMOTIVE, INC. 2553-158282 01/19/2023 WIPER FLUID & 100OZ CAR WA… 061-4400-6399 22.45 O'REILLY AUTOMOTIVE, INC. 2553-158284 01/19/2023 RANGER PARTS 061-4400-6351 181.85 O'REILLY AUTOMOTIVE, INC. 2553-158321 01/19/2023 FORD PART 061-4400-6351 80.12 O'REILLY AUTOMOTIVE, INC. 2553-158397 01/19/2023 DAKOTA PART 061-4400-6351 41.65 Vendor OREILLY - O'REILLY AUTOMOTIVE, INC. Total: 338.29 Vendor: ORTLAND - ORTLAND, VICTORIA
ORTLAND, VICTORIA 1/1-6/30/2023 01/05/2023 1/1/2023 - 6/30/2023 RETIREE… 061-1470-6032 1,614.12 Vendor ORTLAND - ORTLAND, VICTORIA Total: 1,614.12
Vendor: OWENS94022 - OWEN SIGNATURE HOMES
OWEN SIGNATURE HOMES P1318-1 01/19/2023 REFUND DEPOSIT 26550 ANAC… 011-0000-2301 10,000.00 OWEN SIGNATURE HOMES SD19-0079 01/19/2023 REFUND DEPOSIT 26550 ANAC… 011-0000-2301 2,629.50 Vendor OWENS94022 - OWEN SIGNATURE HOMES Total: 12,629.50 Vendor: PGE95899 - P G & E
P G & E 12.19.2022 01/19/2023 26379 FREMONT RD - 9 PGE O… 011-4600-6363 84.29 P G & E 12.19.2022 01/19/2023 TRAFFIC CONTROL SERVICE @ E…011-4600-6363 36.02 P G & E 12.19.2022 01/19/2023 TRAFFIC CONTROL SERVICE @ E…011-4600-6363 56.67 P G & E 12.19.2022 01/19/2023 26379 FREMONT RD - 4 PGE O… 011-4600-6363 52.05 P G & E 12.19.2022 01/19/2023 TRAFFIC CONTROL @ STONEBR… 011-4600-6363 41.01 P G & E 12.19.2022 01/19/2023 TRAFFIC CONTROL @ STONEBR… 011-4600-6363 22.36 P G & E 12.19.2022 01/19/2023 TRAFFIC CONTROL SVC @EL M… 011-4600-6363 31.69 P G & E 12.19.2022 01/19/2023 TRAFFIC CONTROL @ FOOTHILL…011-4600-6363 14.27 P G & E 12.19.2022 01/19/2023 28002 PURISSIMA RD LIFT STAT… 051-4800-6363 254.86 P G & E 12.19.2022 01/19/2023 O'KEEFE LIFT STATION - ELECTR… 051-4800-6363 46.31 P G & E 12.19.2022 01/19/2023 O'KEEFE LIFT STATION - ELECTR… 051-4800-6363 13.93 P G & E 12.19.2022 01/19/2023 28002 PURISSIMA RD LIFT STAT… 051-4800-6363 389.78 P G & E 12.19.2022 01/19/2023 26379 FREMONT RD CITY HALL … 061-1480-6363 479.74 P G & E 12.19.2022 01/19/2023 TOWN CENTER - 26379 FREMO… 061-1480-6363 525.31 P G & E 12.19.2022 01/19/2023 26379 FREMONT RD - GAS 061-1480-6363 63.67 P G & E 12.19.2022 01/19/2023 26375 FREMONT RD - ELECTRIC… 061-1480-6363 10.18 P G & E 12.19.2022 01/19/2023 26379 FREMONT RD CITY HALL … 061-1480-6363 13.67 P G & E 12.19.2022 01/19/2023 TOWN CENTER - 26375 FREMO… 061-1480-6363 62.88 P G & E 12.19.2022 01/19/2023 26379 FREMONT RD NEMEXPM…061-1480-6363 1,350.45 P G & E 12.19.2022 01/19/2023 26379 FREMONT RD TOWN CE… 061-1480-6363 17.85 P G & E 12.19.2022 01/19/2023 26375 FREMONT RD SV CLEAN … 061-1480-6363 923.23 P G & E 12.19.2022 01/19/2023 27400 PURISSIMA RD - ELECTRI… 061-4300-6363 78.56 P G & E 12.19.2022 01/19/2023 27400 PURISSIMA RD - ELECTRI… 061-4300-6363 124.20 Vendor PGE95899 - P G & E Total: 4,692.98

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 10 of 18
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: PACIFIC04 - PACIFIC PREPAREDNESS LLC
PACIFIC PREPAREDNESS LLC LAH2212 01/19/2023 EMERGENCY MANAGEMENT & … 021-6100-6199 4,900.00 Vendor PACIFIC04 - PACIFIC PREPAREDNESS LLC Total: 4,900.00 Vendor: PALOALTOCONCRETE01 - PALO ALTO CONCRETE & CONSTRUCTION PALO ALTO CONCRETE & CONS… EP21-0154.1 01/05/2023 REFUND DEPOSIT 25788 BASSE… 011-0000-2301 489.00 Vendor PALOALTOCONCRETE01 - PALO ALTO CONCRETE & CONSTRUCTION Total: 489.00 Vendor: PARIVASH01 - PARIVASH, JAMES
PARIVASH, JAMES P2915 01/19/2023 REFUND DEPOSIT 12252 MENA… 011-0000-2301 1,034.41 Vendor PARIVASH01 - PARIVASH, JAMES Total: 1,034.41
Vendor: PESTMASTER89511 - PESTMASTER SERVICES INC.

PESTMASTER SERVICES INC. 363761 01/05/2023 ROADSIDE HERBICIDE TREATM… 011-4600-6131 7,985.70 Vendor PESTMASTER89511 - PESTMASTER SERVICES INC. Total: 7,985.70 Vendor: PETERSON04 - PETERSON, ROBERT
PETERSON, ROBERT MA18-0001 01/19/2023 REFUND DEPOSIT 24200 DAWN…011-0000-2301 2,192.70 Vendor PETERSON04 - PETERSON, ROBERT Total: 2,192.70
Vendor: PHOENIX02 - PHOENIX ELECTRIC COMPANY
PHOENIX ELECTRIC COMPANY 1-1076 JUNE 2022.1 01/05/2023 EV CHARGING STATIONS - PRO… 041-6900-6622 4,240.08 PHOENIX ELECTRIC COMPANY BILLING #2-AUG 2022 01/05/2023 EV CHARGING STATIONS - PRO… 041-6900-6622 869.91 PHOENIX ELECTRIC COMPANY 1097_01052023 01/19/2023 TOWN HALL RENOVATIONS 041-6900-6623 5,872.51 PHOENIX ELECTRIC COMPANY 1097_01052023 01/19/2023 TOWN HALL RENOVATIONS 041-6900-6623 4,809.16 Vendor PHOENIX02 - PHOENIX ELECTRIC COMPANY Total: 15,791.66 Vendor: PITNEY15250 - PITNEY BOWES INC
PITNEY BOWES INC 1328-12.13.22 01/05/2023 METER REFILL SN-6027240 11/… 061-1480-6402 450.73 Vendor PITNEY15250 - PITNEY BOWES INC Total: 450.73
Vendor: PROTECTION64121 - PROTECTION ONE ALARM MONITORING INC PROTECTION ONE ALARM MON…148559923 01/05/2023 JANUARY 2023 ALARM SVCS - C… 061-1480-6118 142.84 Vendor PROTECTION64121 - PROTECTION ONE ALARM MONITORING INC Total: 142.84 Vendor: V0980 - PURISSIMA HILLS WATER
PURISSIMA HILLS WATER DEC 2022-2493 01/05/2023 STONEBROOK AVE AT EL MONTE 061-4300-6364 66.50 PURISSIMA HILLS WATER DEC 2022-2496 01/05/2023 26379 FREMONT RD - LAH 061-1480-6364 79.56 PURISSIMA HILLS WATER DEC 2022-2497 01/05/2023 26379 FREMONT RD - IRRIGATI… 061-1480-6364 157.92 PURISSIMA HILLS WATER DEC 2022-2498 01/05/2023 26379 FREMONT RD - HERITAGE…061-1480-6364 94.22 PURISSIMA HILLS WATER DEC 2022-2500 01/05/2023 LITTLE LEAGUE FIELD 011-5100-6364 2,825.45 PURISSIMA HILLS WATER DEC 2022-2501 01/05/2023 27400 PURISSIMA RD - CORP Y… 061-4300-6364 45.24 PURISSIMA HILLS WATER DEC 2022-3112 01/05/2023 ELENA & PURISSIMA SEWER LIF… 051-4800-6364 32.18 PURISSIMA HILLS WATER DEC 2022-3760 01/05/2023 26379 FREMONT RD-RECREATI… 061-1480-6364 32.18 PURISSIMA HILLS WATER DEC 2022-4523 01/05/2023 FREMONT RD PATHWAY IRRIGA…011-4740-6364 41.98 PURISSIMA HILLS WATER DEC 2022-4643 01/05/2023 ARASTRADERO C2 PATHWAY IR… 011-4740-6364 32.18 PURISSIMA HILLS WATER 1.25.2023 01/19/2023 4643 - ARASTRADERO C21 PAT… 011-4740-6364 32.18 PURISSIMA HILLS WATER 1.25.2023 01/19/2023 4523 - FREMONT RD PATHWAY …011-4740-6364 55.04 PURISSIMA HILLS WATER 1.25.2023 01/19/2023 2500 - PLAYING FIELDS - LITTLE … 011-5100-6364 174.27 PURISSIMA HILLS WATER 1.25.2023 01/19/2023 3112 - SEWER ELENA & PURISS… 051-4800-6364 45.24 PURISSIMA HILLS WATER 1.25.2023 01/19/2023 3760 - TOWN CENTER 26379 FR…061-1480-6364 45.24 PURISSIMA HILLS WATER 1.25.2023 01/19/2023 2497 - TOWN CENTER 26379 FR…061-1480-6364 144.86 PURISSIMA HILLS WATER 1.25.2023 01/19/2023 2496 - TOWN CENTER 26379 FR…061-1480-6364 66.50 PURISSIMA HILLS WATER 1.25.2023 01/19/2023 2498 - TOWN CENTER 26379 FR…061-1480-6364 211.76 PURISSIMA HILLS WATER 1.25.2023 01/19/2023 2493 - CORP YARD OPER. STON… 061-4300-6364 66.50 PURISSIMA HILLS WATER 1.25.2023 01/19/2023 2501 - CORP YARD OPER 27400 …061-4300-6364 58.30 Vendor V0980 - PURISSIMA HILLS WATER Total: 4,307.30
Vendor: RAGSDALE - RAGSDALE, SARAH
RAGSDALE, SARAH 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 RETIREE MEDIC… 061-1470-6032 793.50 Vendor RAGSDALE - RAGSDALE, SARAH Total: 793.50
Vendor: PATEL02 - RAJIV PATEL
RAJIV PATEL P16217-LD 01/19/2023 REFUND DEPOSIT 26620 PURISS…011-0000-2303 5,000.00 Vendor PATEL02 - RAJIV PATEL Total: 5,000.00
Vendor: REED03 - REED & GRAHAM INC.

REED & GRAHAM INC. 045026 01/05/2023 CRACKFILLER - 5 GAL 011-4600-6149 91.88

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 11 of 18
Vendor Name Payable Number Post Date Description (Item) Account Number Amount REED & GRAHAM INC. 045094 01/05/2023 BIODEGRADABLE BURLAP NETT… 011-4600-6149 131.25 Vendor REED03 - REED & GRAHAM INC. Total: 223.13
Vendor: REKHA - REKHA PAI OR ANIL KAMATH TEN
REKHA PAI OR ANIL KAMATH T… SD19-0073 01/19/2023 REFUND DEPOSIT 13210 LA CRE…011-0000-2301 2,797.00 Vendor REKHA - REKHA PAI OR ANIL KAMATH TEN Total: 2,797.00 Vendor: RENNE01 - RENNE PUBLIC LAW GROUP, LLP
RENNE PUBLIC LAW GROUP, LLP 9075 01/05/2023 RPMG/TOWN OF LAH COUNCIL'…011-1100-6199 2,915.00 RENNE PUBLIC LAW GROUP, LLP 8896 01/19/2023 RPMG/TOWN OF LAH COUNCIL'…011-1100-6199 660.00 Vendor RENNE01 - RENNE PUBLIC LAW GROUP, LLP Total: 3,575.00 Vendor: RIPPEY - RIPPEY, MICHAEL
RIPPEY, MICHAEL 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 RETIREE MEDIC… 061-1470-6032 4,057.08 Vendor RIPPEY - RIPPEY, MICHAEL Total: 4,057.08
Vendor: RODRIGUEZ02 - RODRIGUEZ, ART
RODRIGUEZ, ART EP22-0048 01/05/2023 REFUND DEPOSIT 11500 SUMM…011-0000-2301 406.00 Vendor RODRIGUEZ02 - RODRIGUEZ, ART Total: 406.00
Vendor: HHW - SANTA CLARA COUNTY - HHW PROGRAM
SANTA CLARA COUNTY - HHW … 12.05.22 01/19/2023 HHW PROGRAM FY22 YEAR-EN… 011-3300-6138 14,218.11 Vendor HHW - SANTA CLARA COUNTY - HHW PROGRAM Total: 14,218.11 Vendor: SCCVECTOR - SANTA CLARA COUNTY VECTOR CONTROL
SANTA CLARA COUNTY VECTOR…SV10008-1.17.2023 01/19/2023 ASSESSMENT STATEMENT FOR … 061-4300-6398 112.63 Vendor SCCVECTOR - SANTA CLARA COUNTY VECTOR CONTROL Total: 112.63 Vendor: VTA95134 - SANTA CLARA VALLEY TRANSPORTATION AUTHORITY SANTA CLARA VALLEY TRANSP… 1800032615 01/19/2023 CMP MEMBER AGENCY FEES FY… 011-4600-6327 8,409.00 Vendor VTA95134 - SANTA CLARA VALLEY TRANSPORTATION AUTHORITY Total: 8,409.00 Vendor: SCHOTT02 - SCHOTT JAMI M TRUSTEE
SCHOTT JAMI M TRUSTEE SD19-0012-LD 01/19/2023 REFUND DEPOSIT 26925 ORCH… 011-0000-2303 5,000.00 Vendor SCHOTT02 - SCHOTT JAMI M TRUSTEE Total: 5,000.00 Vendor: SCHOTT01 - SCHOTT, THOMAS
SCHOTT, THOMAS SD19-0012 01/19/2023 REFUND DEPOSIT 26925 ORCH… 011-0000-2301 900.50 Vendor SCHOTT01 - SCHOTT, THOMAS Total: 900.50
Vendor: SETLUR01 - SETLUR, GOVINDARAJ & HARINI
SETLUR, GOVINDARAJ & HARINI CDP20-0002 01/19/2023 REFUND DEPOSIT 14554 DE BEL…011-0000-2301 3,101.50 Vendor SETLUR01 - SETLUR, GOVINDARAJ & HARINI Total: 3,101.50 Vendor: SHALON01 - SHALON, TIDHAR
SHALON, TIDHAR P17117 01/19/2023 REFUND DEPOSIT 26160 RANC… 011-0000-2301 282.75 Vendor SHALON01 - SHALON, TIDHAR Total: 282.75
Vendor: SHAPE94588 - SHAPE INC.

SHAPE INC. 1588 01/05/2023 O-RING, GROMMET, TERMINAL… 019-1101-6615 1,529.18 Vendor SHAPE94588 - SHAPE INC. Total: 1,529.18
Vendor: SHARP_JPA - SHARED AGENCY RISK POOL
SHARED AGENCY RISK POOL SHARP-2023-012 01/05/2023 WORKERS COMP MEMBER CO… 061-1470-6029 20,070.50 Vendor SHARP_JPA - SHARED AGENCY RISK POOL Total: 20,070.50 Vendor: SHUMARAYEV01 - SHUMARAYEV, SERGEY OR ANNA DMITRIEVA SHUMARAYEV, SERGEY OR AN… SD18-0031 01/19/2023 REFUND DEPOSIT 12501 CORBE…011-0000-2301 1,041.75 Vendor SHUMARAYEV01 - SHUMARAYEV, SERGEY OR ANNA DMITRIEVA Total: 1,041.75 Vendor: SMITH02 - SMITH, BOYD AND HILARY
SMITH, BOYD AND HILARY P25117 01/19/2023 REFUND DEPOSIT 10350 W LOY… 011-0000-2301 1,399.75 Vendor SMITH02 - SMITH, BOYD AND HILARY Total: 1,399.75 Vendor: SMITH - SMITH, LANI
SMITH, LANI 1/1-6/30/2023 01/05/2023 1/1-6/30/2023 RETIREE MEDIC… 061-1470-6032 793.50 Vendor SMITH - SMITH, LANI Total: 793.50
Vendor: STAPLES30348 - STAPLES BUSINESS CREDIT
STAPLES BUSINESS CREDIT 7367521192-0-1 01/03/2023 SUGAR 200PK, KLEENEX, YELL… 061-1480-6398 174.28 STAPLES BUSINESS CREDIT 7367098307-0-2 01/05/2023 COFFEEMATE FR VANILLA SS 36… 061-1480-6398 37.92 STAPLES BUSINESS CREDIT 7367098307-0-3 01/05/2023 TAZO TEA - AWAKE 061-1480-6398 13.38

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 12 of 18
Vendor Name Payable Number Post Date Description (Item) Account Number Amount STAPLES BUSINESS CREDIT 7367098307-0-4 01/05/2023 2023 EVERY DAYS A HOLIDAY … 061-1480-6398 33.85 STAPLES BUSINESS CREDIT 7367098307-0-5 01/05/2023 VINTAGE COUNTRY 2023 SQ YES…061-1480-6398 16.93 STAPLES BUSINESS CREDIT 7367679643-0-1 01/05/2023 UNI-BALL PENS, SHARPIE 36CT, …061-1480-6398 158.10 STAPLES BUSINESS CREDIT 7368082304-0-1 01/05/2023 MANILA FOLDERS & 8.5 X 11 C… 061-1480-6398 308.20 STAPLES BUSINESS CREDIT 7368356687-0-1 01/05/2023 12OZ SOLO HOT CUP 300CT 061-1480-6398 73.32 STAPLES BUSINESS CREDIT 7368871057-0-1 01/05/2023 CREAMER, LABELS 3000PK, WIR…061-1480-6398 97.20 STAPLES BUSINESS CREDIT 7368871057-2-1 01/05/2023 CREAMER, LABELS 3000PK, WIR…061-1480-6398 97.20 STAPLES BUSINESS CREDIT 7369582530-0-1 01/05/2023 COCOA 24CT, RED FOLDERS, BL… 061-1480-6398 558.94 STAPLES BUSINESS CREDIT 7370168947-0-1 01/05/2023 SPLS 11X17 30% REC COPY CS 061-1480-6398 87.29 STAPLES BUSINESS CREDIT 7601760793-0-1 01/05/2023 FORK PLY HVYWT, 12OZ HOT C… 061-1480-6398 217.44 Vendor STAPLES30348 - STAPLES BUSINESS CREDIT Total: 1,874.05 Vendor: STATCOMM01 - STATCOMM INC
STATCOMM INC W26603 01/05/2023 9/21/2022 WWBARN ALARM S… 011-5300-6118 360.00 Vendor STATCOMM01 - STATCOMM INC Total: 360.00
Vendor: STEVENS95014 - STEVENS CREEK QUARRY
STEVENS CREEK QUARRY 1010860 01/05/2023 4" X 8" ROCK 042-6900-6125 67.18 STEVENS CREEK QUARRY 1016124 01/05/2023 QUARRY FINE 042-6900-6125 143.91 Vendor STEVENS95014 - STEVENS CREEK QUARRY Total: 211.09 Vendor: SUBOTOVSKY01 - SUBOTOVSKY, SANTIAGO
SUBOTOVSKY, SANTIAGO SD20-0005 01/19/2023 REFUND DEPOSIT 26000 BENTL… 011-0000-2301 810.50 Vendor SUBOTOVSKY01 - SUBOTOVSKY, SANTIAGO Total: 810.50 Vendor: SYSERCO01 - SYSERCO ENERGY SOLUTIONS, INC.

SYSERCO ENERGY SOLUTIONS, I… 21277 01/05/2023 MATERIAL PROCUREMENT & EL…041-6900-6622 125,933.80 Vendor SYSERCO01 - SYSERCO ENERGY SOLUTIONS, INC. Total: 125,933.80 Vendor: TARAVAT01 - TARAVAT, BAGHERI
TARAVAT, BAGHERI P5318 01/19/2023 REFUND DEPOSIT 26100 DUVAL…011-0000-2301 1,936.92 Vendor TARAVAT01 - TARAVAT, BAGHERI Total: 1,936.92
Vendor: NIV01 - THE NIV FAMILY TRUST
THE NIV FAMILY TRUST SD18-0033 01/19/2023 REFUND DEPOSIT 27240 NATO… 011-0000-2301 2,241.90 Vendor NIV01 - THE NIV FAMILY TRUST Total: 2,241.90
Vendor: PARTY02 - THE PARTY HELPERS
THE PARTY HELPERS 71089 01/25/2023 TEDx RECEPTION 1/28/2023 011-4120-6361 2,153.59 Vendor PARTY02 - THE PARTY HELPERS Total: 2,153.59
Vendor: TOPRANI01 - TOPRANI, SUBODH
TOPRANI, SUBODH P28014-LD 01/19/2023 REFUND DEPOSIT 26630 ASCEN… 011-0000-2303 5,000.00 Vendor TOPRANI01 - TOPRANI, SUBODH Total: 5,000.00
Vendor: TRIPEPI01 - TRIPEPI, SMITH AND ASSOCIATES, INC
TRIPEPI, SMITH AND ASSOCIAT… 9200 01/19/2023 MONTHLY RETAINER FOR QUA… 011-1700-6304 1,375.00 Vendor TRIPEPI01 - TRIPEPI, SMITH AND ASSOCIATES, INC Total: 1,375.00 Vendor: SUN64180 - UNION SECURITY INSURANCE COMPANY
UNION SECURITY INSURANCE C… 925773-0001 12.14.22 01/05/2023 LIFE & LTD FOR JANUARY 2023 061-0000-2225 900.22 UNION SECURITY INSURANCE C… 925773-0001 12.14.22 01/05/2023 LTD FOR JANUARY 2023 061-0000-2226 1,236.23 Vendor SUN64180 - UNION SECURITY INSURANCE COMPANY Total: 2,136.45 Vendor: CRAFTSMEN95119 - UNITED CRAFTSMEN INC
UNITED CRAFTSMEN INC 11899 01/19/2023 BUSINESS CARDS FOR ASTHA K… 011-3300-6207 65.48 Vendor CRAFTSMEN95119 - UNITED CRAFTSMEN INC Total: 65.48 Vendor: VAHID01 - VAHID, FIROUZDOR
VAHID, FIROUZDOR BLD21-0276-FD 01/05/2023 REFUND DEPOSIT 12874 VISCAI… 011-0000-2303 4,320.00 VAHID, FIROUZDOR EP22-0063 01/05/2023 REFUND DEPOSIT 12874 VISCAI… 011-0000-2301 295.00 VAHID, FIROUZDOR EP22-0063-PB 01/05/2023 REFUND DEPOSIT 12874 VISCAI… 011-0000-2303 2,000.00 VAHID, FIROUZDOR SD21-0021 01/19/2023 REFUND DEPOSIT 12874 VISCAI… 011-0000-2301 816.47 Vendor VAHID01 - VAHID, FIROUZDOR Total: 7,431.47
Vendor: VALLEY94139 - VALLEY OIL COMPANY
VALLEY OIL COMPANY 125360 01/05/2023 DIESEL FUEL 061-4400-6342 2,428.08 Vendor VALLEY94139 - VALLEY OIL COMPANY Total: 2,428.08

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 13 of 18
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: VEERAVAGU01 - VEERAVAGU, ANAND
VEERAVAGU, ANAND CDP18-0002 01/19/2023 REFUND DEPOSIT 12450 HILLT… 011-0000-2301 2,796.14 VEERAVAGU, ANAND SD20-0075 01/19/2023 REFUND DEPOSIT 12450 HILLT… 011-0000-2301 3,758.00 Vendor VEERAVAGU01 - VEERAVAGU, ANAND Total: 6,554.14
Vendor: VERIZON75266 - VERIZON WIRELESS
VERIZON WIRELESS 9923679921 01/19/2023 PARKS & REC SPECIALIST - CHRIS…011-1000-6362 58.55 VERIZON WIRELESS 9923679921 01/19/2023 CITY MANAGER - PETER PIRNEJ… 011-1200-6362 58.55 VERIZON WIRELESS 9923679921 01/19/2023 CITY CLERK - DEBORAH PADOV… 011-1300-6362 58.55 VERIZON WIRELESS 9923679921 01/19/2023 ADMIN SVCS DIRECTOR - SARIN… 011-1400-6362 58.55 VERIZON WIRELESS 9923679921 01/19/2023 PLANNING IPAD 011-3100-6362 40.01 VERIZON WIRELESS 9923679921 01/19/2023 PLANNING DIRECTOR - SOFIA … 011-3100-6362 48.55 VERIZON WIRELESS 9923679921 01/19/2023 BUILDING INSPECTOR 011-3200-6362 58.55 VERIZON WIRELESS 9923679921 01/19/2023 BUILDING IPAD 011-3200-6362 40.01 VERIZON WIRELESS 9923679921 01/19/2023 PUBLIC WORKS TABLET 011-3300-6362 40.01 VERIZON WIRELESS 9923679921 01/19/2023 PUBLIC WORKS TABLET 011-3300-6362 40.01 VERIZON WIRELESS 9923679921 01/19/2023 UTILITY ENGINEERING MANAG… 011-3300-6362 54.27 VERIZON WIRELESS 9923679921 01/19/2023 PUBLIC WORKS TABLET 011-3300-6362 28.51 VERIZON WIRELESS 9923679921 01/19/2023 PUBLIC WORKS DIRECTOR 011-3300-6362 48.55 VERIZON WIRELESS 9923679921 01/19/2023 MIFI 061-1480-6362 40.03 VERIZON WIRELESS 9923679921 01/19/2023 MAINTENANCE WORKER 061-4300-6362 -1.09 VERIZON WIRELESS 9923679921 01/19/2023 MAINTENANCE WORKER - OSW…061-4300-6362 33.10 VERIZON WIRELESS 9923679921 01/19/2023 MAINTENANCE SUPERINTENDE… 061-4300-6362 48.55 VERIZON WIRELESS 9923679921 01/19/2023 MAINTENANCE WORKER - HEC… 061-4300-6362 33.10 Vendor VERIZON75266 - VERIZON WIRELESS Total: 786.36
Vendor: VDE94041 - VICTORIA DYE EQUESTRIAN, LLC
VICTORIA DYE EQUESTRIAN, LLC 10241 01/05/2023 WATER REIMBURSEMENT - 50%…011-5300-6364 740.92 VICTORIA DYE EQUESTRIAN, LLC 1.3.2023 01/19/2023 HOLIDAY CAMP 2022 011-5300-6111 5,775.00 VICTORIA DYE EQUESTRIAN, LLC 10438 01/19/2023 WATER REIMBURSEMENT -50%… 011-5300-6364 290.35 Vendor VDE94041 - VICTORIA DYE EQUESTRIAN, LLC Total: 6,806.27 Vendor: VSP94145 - VISION SERVICE PLAN INSURANCE CO
VISION SERVICE PLAN INSURAN… 816794192 01/05/2023 VISION JANUARY 2023 061-0000-2233 544.72 VISION SERVICE PLAN INSURAN… 816794195 01/05/2023 VISION JANUARY 2023 COBRA 061-0000-2233 30.79 Vendor VSP94145 - VISION SERVICE PLAN INSURANCE CO Total: 575.51 Vendor: WESTBAY94025 - WEST BAY SANITARY DISTRICT
WEST BAY SANITARY DISTRICT 2022/23-063 01/05/2023 MAINTENANCE SVCS AGREEME… 051-4800-6140 35,791.48 WEST BAY SANITARY DISTRICT 2022/23-056.1 01/19/2023 MAINTENANCE SVCS AGREEME… 051-4800-6140 30,913.34 WEST BAY SANITARY DISTRICT 2022/23-066 01/19/2023 MAINTENANCE SERVICES AGRE… 051-4800-6140 31,323.34 Vendor WESTBAY94025 - WEST BAY SANITARY DISTRICT Total: 98,028.16 Vendor: WESTCOAST01 - WEST COAST CODE CONSULTANTS INC.

WEST COAST CODE CONSULTA… 222-011-LAH-03 01/05/2023 PERMIT TECHNICIAN NOVEMBE…011-3200-6199 581.25 Vendor WESTCOAST01 - WEST COAST CODE CONSULTANTS INC. Total: 581.25 Vendor: WILLIAMS03 - WILLIAMS, JENNY & DUSTON
WILLIAMS, JENNY & DUSTON SD18-0053 01/19/2023 REFUND DEPOSIT 13505 BURKE…011-0000-2301 2,800.75 WILLIAMS, JENNY & DUSTON SD20-0049 01/19/2023 REFUND DEPOSIT 13505 BURKE…011-0000-2301 482.00 Vendor WILLIAMS03 - WILLIAMS, JENNY & DUSTON Total: 3,282.75 Vendor: KIM01 - WOOJAE KIM
WOOJAE KIM 1.5.23 01/19/2023 FLASHLIGHTS FOR EOC 061-1480-6398 120.10 Vendor KIM01 - WOOJAE KIM Total: 120.10
Vendor: XUEREB01 - XUEREB, CHARLES
XUEREB, CHARLES SD19-0053 01/19/2023 REFUND DEPOSIT 12998 VISTA … 011-0000-2301 438.00 Vendor XUEREB01 - XUEREB, CHARLES Total: 438.00
Vendor: ZOU01 - ZOU, CHENG
ZOU, CHENG P18715-LD 01/19/2023 REFUND DEPOSIT 13112 MAPLE…011-0000-2303 5,000.00 ZOU, CHENG SD18-0038 01/19/2023 REFUND DEPOSIT 13112 MAPLE…011-0000-2301 1,490.25 Vendor ZOU01 - ZOU, CHENG Total: 6,490.25
Grand Total: 979,780.93

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 14 of 18
Report Summary
Fund Summary
Fund Payment Amount
011 - GENERAL FUND 393,965.40
019 - ARPA - AMERICAN RESCUE PLAN ACT 66,506.79
021 - COPS FUND 4,900.00
031 - SEWER ASSESSMENT DISTRICT 3,514.10
041 - GENERAL CIP FUND 186,610.55
042 - PATHWAYS CIP 9,538.09
043 - WESTWIND BARN CIP ADMIN 334.75
045 - DRAINAGE CIP 12,733.63
051 - SEWER FUND 107,542.88
061 - GENERAL SERVICE FUND 194,134.74
Grand Total: 979,780.93
Account Summary
Account Number Account Name Payment Amount
011-0000-1110 Receivable - Miscellaneous 9,280.33
011-0000-2002 Strong Motion Impl Payab… 2,782.27
011-0000-2004 SB 1473 - Fee Payable 921.00
011-0000-2301 Planning Deposits 101,229.26
011-0000-2303 Bond Deposits 62,495.50
011-0000-4685 Administrative Charge -231.21
011-1000-6362 Telephone 58.55
011-1100-6199 Other Contract Services 3,575.00
011-1200-6199 Other Contract Services 1,300.00
011-1200-6362 Telephone 58.55
011-1200-6398 Other General Expense 201.15
011-1300-6207 Advertising/Publishing 590.63
011-1300-6209 Other Program & Proj Con… 400.00
011-1300-6362 Telephone 58.55
011-1400-6111 Contract Personnel 6,264.16
011-1400-6203 Audit & Financial 7,414.00
011-1400-6362 Telephone 58.55
011-1500-6112 Legal - Special Projects 24,352.00
011-1700-6209 Other Program & Proj Con… 1,485.00
011-1700-6304 Printing, copying & scanni… 7,625.00
011-3100-6199 Other Contract Services 5,492.90
011-3100-6202 Professional Planner Svcs 6,250.00
011-3100-6207 Advertising/Publishing 2,096.88
011-3100-6309 Instruction & Training 1,300.00
011-3100-6338 Data Service Subscriptions 103.00
011-3100-6362 Telephone 88.56
011-3200-6114 Contract Plan Checks 54,145.90
011-3200-6199 Other Contract Services 581.25
011-3200-6338 Data Service Subscriptions 103.00
011-3200-6362 Telephone 98.56
011-3300-6138 Hazardous Waste Program 14,218.11
011-3300-6206 Engineering Consultants 7,550.00
011-3300-6207 Advertising/Publishing 65.48
011-3300-6313 Computer Software 4,000.00
011-3300-6362 Telephone 211.35
011-4120-6361 Special Events & Awards 4,337.36
011-4500-6142 Storm Drain Maintenance 1,560.00
011-4600-6131 Weed Spraying 7,985.70
011-4600-6145 Traffic Signal Maintenance 834.75
011-4600-6149 Street Maintenance 1,783.13
011-4600-6151 Street Construction Contr… 4,172.00
011-4600-6199 Other Contract Services 1,840.00
011-4600-6327 Congestion Management 8,409.00

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 15 of 18
Account Summary
Account Number Account Name Payment Amount
011-4600-6363 Electric 338.36
011-4600-6399 Other Supplies/Materials 1,728.13
011-4740-6125 Pathways Maintenance 11,000.00
011-4740-6199 Other Contract Services 3,900.00
011-4740-6364 Water 161.38
011-5100-6122 Lawncare/Landscaping 2,220.00
011-5100-6123 Housekeeping 395.00
011-5100-6130 Pest Control 650.00
011-5100-6364 Water 2,999.72
011-5300-6111 Contract Personnel 5,775.00
011-5300-6118 Facility Maint & Security 360.00
011-5300-6122 Lawncare/Landscaping 3,000.00
011-5300-6123 Housekeeping 405.00
011-5300-6337 Construction Material 2,623.09
011-5300-6364 Water 1,031.27
011-5300-6399 Other Supplies/Materials 233.23
019-1101-6615 Machinery& Equipment 1,529.18
019-6900-6623 Building & Bldg Improve… 64,977.61
021-6100-6199 Other Contract Services 4,900.00
031-0100-6203 Audit & Financial 3,514.10
041-6900-6122 Lawncare/Landscaping 19,754.90
041-6900-6199 Other Contract Services 1,595.00
041-6900-6206 Engineering Consultants 2,427.50
041-6900-6209 Other Program & Proj Con… 2,090.00
041-6900-6313 Computer Software 13,420.00
041-6900-6341 Signs 549.50
041-6900-6622 Site Improvements 131,043.79
041-6900-6623 Building & Bldg Improve… 13,681.74
041-6910-6616 Vehicles & Accessories 2,048.12
042-6900-6125 Pathways Maintenance 211.09
042-6900-6206 Engineering Consultants 9,327.00
043-6900-6118 Facility Maint & Security 120.82
043-6900-6622 Site Improvements 213.93
045-6900-6143 Storm Drain Repairs 6,970.00
045-6900-6206 Engineering Consultants 5,763.63
051-0000-4665 Sewer Assessment Charges 4,953.57
051-4800-6118 Facility Maint & Security 75.00
051-4800-6140 Sewer Maintenance Work 98,028.16
051-4800-6206 Engineering Consultants 3,703.85
051-4800-6363 Electric 704.88
051-4800-6364 Water 77.42
061-0000-2204 Deferred Comp Payable 39,571.52
061-0000-2225 Life Insurance Payable 900.22
061-0000-2226 Long Term Disability Paya… 1,236.23
061-0000-2233 Dental & Vision Insurance… 5,653.53
061-1470-6029 Workers Comp Insurance … 20,070.50
061-1470-6032 Health Insurance - Retirees 50,847.36
061-1470-6037 Employee Assistance Prog… 828.07
061-1480-6111 Contract Personnel 23,454.00
061-1480-6118 Facility Maint & Security 2,051.53
061-1480-6122 Lawncare/Landscaping 3,720.00
061-1480-6123 Housekeeping 3,171.53
061-1480-6199 Other Contract Services 1,287.20
061-1480-6309 Instruction & Training 2,500.00
061-1480-6313 Computer Software 66.60
061-1480-6315 Permits for Operation 516.00
061-1480-6362 Telephone 299.61
061-1480-6363 Electric 3,446.98

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 16 of 18
Account Summary
Account Number Account Name Payment Amount
061-1480-6364 Water 832.24
061-1480-6398 Other General Expense 3,685.15
061-1480-6402 Office Mach & Furniture … 450.73
061-1480-6502 Non-Capital Office Mach/… 8,240.76
061-4300-6123 Housekeeping 555.61
061-4300-6324 Uniforms 1,134.43
061-4300-6342 Gas and Oil 51.11
061-4300-6362 Telephone 433.66
061-4300-6363 Electric 202.76
061-4300-6364 Water 236.54
061-4300-6398 Other General Expense 202.02
061-4300-6399 Other Supplies/Materials 296.93
061-4300-6614 Tools & Equipment 14,542.80
061-4400-6342 Gas and Oil 3,013.87
061-4400-6351 Auto & Equipment Parts 315.84
061-4400-6399 Other Supplies/Materials 319.41
Grand Total: 979,780.93
Project Account Summary
Project Account Key Payment Amount
**None** 522,252.20
111710 100.00
111711 7,625.00
111720 100.00
111730 100.00
111745 19,854.90
111790 100.00
111791 100.00
111799 100.00
111802 100.00
111803 685.00
111804 1,960.10
410215 1,765.07
410216 2,427.50
410218 125,933.80
410220 6,250.00
410221 5,109.99
410226 549.50
410227 13,420.00
419301 80,579.28
427902 2,384.50
427903 1,600.00
427909 3,942.50
427913-23 1,611.09
437307-23 334.75
467209 12,733.63
APL21-0003 57.50
BLD21-0276-FD 4,320.00
CDP18-0002 2,796.14
CDP20-0002 3,101.50
EP21-0006 898.50
EP21-0006-PB 2,000.00
EP21-0023 918.50
EP21-0024 918.50
EP21-0033 918.50
EP21-0045 777.50
EP21-0045-PB 2,000.00
EP21-0116 1,500.20

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 17 of 18
Project Account Summary
Project Account Key Payment Amount
EP21-0154 489.00
EP22-0048 406.00
EP22-0063 295.00
EP22-0063-PB 2,000.00
EP22-0065 797.00
EP22-0065-PB 3,000.00
EP22-0101 1,000.00
ER22-0003 955.70
ER22-0004 2,126.20
LLA19-0001 367.00
MA18-0001 2,192.70
MA22-0001 437.80
P10317-LD 5,000.00
P1318-1 10,000.00
P16217-LD 5,000.00
P17117 282.75
P18715-LD 5,000.00
P25117 1,399.75
P28014-LD 5,000.00
P2915 1,034.41
P40117 2,050.50
P5318 1,936.92
R4120-10 261.50
R4120-20 611.27
R4120-25 3,464.59
SD18-0004 734.05
SD18-0019-LD 5,000.00
SD18-0021 9,693.30
SD18-0024 997.25
SD18-0027 1,502.25
SD18-0029 2,326.00
SD18-0029-LD 5,000.00
SD18-0031 1,041.75
SD18-0033 2,241.90
SD18-0038 1,490.25
SD18-0044 3,001.25
SD18-0045-LD 5,000.00
SD18-0052 1,618.50
SD18-0053 2,800.75
SD19-0012 900.50
SD19-0012-LD 5,000.00
SD19-0015 1,771.10
SD19-0021 2,047.50
SD19-0044 824.50
SD19-0044-LD 4,175.50
SD19-0045 820.21
SD19-0053 438.00
SD19-0063 477.50
SD19-0070 240.00
SD19-0071 2,875.16
SD19-0073 2,797.00
SD19-0079 2,629.50
SD19-0082 2,211.50
SD19-0082-LD 5,000.00
SD20-0005 810.50
SD20-0049 482.00
SD20-0075 3,758.00
SD21-0013 523.25

Expense Approval Report Payment Dates: 01/01/2023 - 01/31/2023 2/2/2023 10:07:32 AM Page 18 of 18
Project Account Summary
Project Account Key Payment Amount
SD21-0021 816.47
SP21-0001 950.00
VAR19-0014 119.00
VAR19-0015 1,479.00
VAR21-0001 5,149.00
VAR21-0005 4,004.75
Grand Total: 979,780.93

TOWN OF LOS ALTOS HILLS February 16, 2023
Staff Report to the City Council
SUBJECT: Receive Treasury Report for Period Ending January 31, 2023 FROM: Sarina Revillar, Administrative Services Director APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council:

Review and accept the Treasurer’s Report for the month ended January 31, 2023.

BACKGROUND:

California government code section 41004 requires that the City Treasurer submits to the City Clerk and the legislative body a written report and accounting of all receipts, disbursements, and fund balances. This report is prepared to fulfill the requirement.

The following attachments provide various financial transaction data for the Town of Los Altos Hills Funds collectively as well as specifically for the Town’s General (Operating) Fund.

DISCUSSION:

In accordance with California government code section 53646 (b) (3), the Town is financially well positioned and able to meet its estimated expenditure requirements for the next six months. As of January 31, 2023, the Town’s financial position (Assets $42.9M, Liabilities $7.0M, and Fund Equity $35.9M) remains very strong and there are no issues in meeting financial obligations now or in the foreseeable future.

ENVIRONMENTAL REVIEW:

This action does not qualify as a “Project” as defined in California Government Code Section 15378(b) of the Guidelines for California Environmental Quality Act. 2023 CITY COUNCIL STRATEGIC PRIORITIES:

The report is for financial transparency and was not specified as one of the Council’s priorities in 2023.

AGENDA ITEM #4.F
S.R.

P.P.

Staff Report Page 2
Treasury Report for Period Ending January 31, 2023
February 16, 2023
FISCAL IMPACT:

There is no fiscal impact for the January 2023 Treasury report.

ATTACHMENTS:

1. Change in Total Fund Balance
Prepared by: Miranda Shum

Attachment I
Fund Description
Prior Year
Carryforward
7/1/2022
Increase/
(Decrease) July -
Dec
Current
Revenue
Current
Expenditure Transfer In
Transfer
Out 1/31/2023
General Fund:

Restricted Fund Balances:

Pension Trust 1,040,671 - - - - - 1,040,671
Committed Fund Balances:

Disaster Contingency Reserve 1,250,000 - - - - - 1,250,000 Pension Contributions Reserve 2,575,000 - - - - - 2,575,000 IT Equipment Replacmenet Reserve 50,000 - - - - - 50,000 Facilities Replacement Reserve 1,902,700 - - - - - 1,902,700 Equipment Replacement Reserve 594,000 - - - - - 594,000 Assigned Fund Balances:

Operating Contingency Reserve 2,071,500 - - - - - 2,071,500 Unassigned Fund Balances:

Unassigned Fund Balance Reserve 8,599,777 (766,112) 1,358,998 (493,197) - - 8,699,467 General Fund Total 18,083,648 (766,112) 1,358,998 (493,197) - - 18,183,338 Special Revenue
Parks and Recreation 379,996 (6,796) 2,575 - - - 375,775 Public Safety 6,104 57,765 384 (4,900) - - 59,352
Art Donations 58,578 (24,975) - - - - 33,603
ARPA Federal Grants 701,927 725,646 - (66,507) - - 1,361,066 Special Revenue Fund Total 1,146,605 751,640 2,958 (71,407) - - 1,829,796 Internal Service Fund
Investment in Capital Assets 3,230,577 3,230,577
Unrestricted 779,485 - - (162,118) - - 617,367
Internal Service Fund Total 4,010,062 - - (162,118) - - 3,847,944 Sewer Fund
Investment in Capital Assets 7,865,497 7,865,497
Unrestricted 4,177,070 (548,164) 25,708 (89,884) - - 3,564,731 Sewer Fund Total 12,042,567 (548,164) 25,708 (89,884) - - 11,430,228 Trust/Agency
West Loyola Special Assessment 310,746 (50,235) - (3,514) - - 256,997 Trust/Agency Fund Total 310,746 (50,235) - (3,514) - - 256,997 Capital Projects
General CIP (8,090) (621,353) - (192,919) - - (822,362) ** Pathways CIP 1,010,342 23,535 7,036 (9,538) - - 1,031,375 Westwind Barn CIP 196,926 28,442 - (335) - - 225,033
Drainage CIP 757,452 (1,595) 5,172 (12,734) - - 748,295 Street & Road Repairs Capital Projects 745,049 (1,633,050) 27,780 - - - (860,222) ** CIP Fund Total 2,701,679 (2,204,021) 39,987 (215,526) - - 322,119 Total City 38,295,307 (2,816,892) 1,427,652 (1,035,645) - - 35,870,422 *Fund balances are unaudited, and may not include all necessary adjustments. These figures will be updated in future reports once the FY22/23 independent audit is complted.
**Negative fund balance due to authorized spending of anticipated revenues Town of Los Altos Hills January 2023 Treasurer's Report

CHANGES IN TOTAL FUND BALANCE

TOWN OF LOS ALTOS HILLS February 16, 2023
Staff Report to the City Council
SUBJECT: RECEIVE QUARTERLY INVESTMENT PORTFOLIO REPORT – QUARTER ENDING December 31, 2022
FROM: Sarina Revillar, Administrative Services Director APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council:

Receive Quarterly Investment Portfolio Report – Quarter Ending December 31, 2022 BACKGROUND:

These quarterly reports are presented to both the City Council and the Finance and Investment Committee to keep both bodies apprised as to the status of the Town’s investment holding and demonstrate compliance with the Town’s Investment Policy. A review of the Investment Portfolio Report Quarter Ended December 31, 2022 was presented and discussed with the Finance and Investment Committee on February 6, 2023 (Attachment 1).

DISCUSSION:

The summary provided below presents the sum total of all Town investment holdings.

The City’s portfolio book value, excluding operating cash and bond holdings as of December 31, 2022 was $27,846,006.

As of December 31, 2022, 6.3% of the Town’s portfolio was placed in Federal Agency Securities (Fannie Mae, Federal Home Loan Bank, Federal Home Loan Mortgage and Federal Farm Credit), 47.6% in US Treasuries, 17.1% in Corporate Notes, 5.3% in Municipal Bonds, 0.4% in Certificate of Deposits, 1.5% in Supra-National Agency Bond with the balance of 21.7% in LAIF. This portfolio mix chart is illustrated as part of Attachment 2.

Full compliance with the Town’s Investment Policy is monitored closely and on a per trade basis as illustrated in Attachment 3. In accordance with California Government Code 53646(b)(3), the Town of Los Altos Hills can meet its pool expenditure requirements for the next six months.

As part of these quarterly updates, a status report is prepared by PFM which is included as Attachment 4: Investment Performance Review for the Quarter Ended December 31, 2022. It is important to note that this report highlights the performance of the Town’s AGENDA ITEM #4.G
S.R.

P.P.

Staff Report Page 2
Quarterly Investment Quarter Ending December 31, 2022
February 16, 2023
investments that fall outside its liquid holdings with LAIF. This has been intentionally crafted to isolate the performance of the Town’s independently managed investments.

The total rate of the portfolio lesser of 10 years or since inception is 0.71%, which is highlighted on page 23, of the PFM Investment Performance Review Report (Attachment 4).
2022 CITY COUNCIL STRATEGIC PRIORITIES:

This report was not specifically identified as one of the Council’s priorities for 2022, but it is a form of financial transparency.

ENVIRONMENTAL REVIEW:

The proposed project is exempt from California Environmental Quality Act (CEQA) pursuant to Sections 15061(b)(3) of the CEQA Guidelines.

FISCAL IMPACT:

There is no fiscal impact in accepting this report.

ATTACHMENTS

1. Agenda from Finance and Investment Committee Meeting of February 6, 2023

2. Portfolio Mix Charts

3. Investment Policy Compliance Chart

4. Investment Performance Review Quarter Ended December 31, 2022 Prepared by: Miranda Shum

Finance and Investment Committee Special Meeting Agenda Date: February 6, 2023, at 4:00 p.m.

Location: by Zoom Video Conference

TELECONFERENCE SPECIAL NOTICE
Pursuant to Government Code Section 54953(e):

NOTICE OF TELECONFERENCED MEETING
On September 16, 2021, Governor Newsom signed Assembly Bill 361 (2021), which amended Section 54593 of the Government Code to allow local legislative bodies to continue to conduct meetings by teleconference under specified conditions and pursuant to special rules on notice, attendance, and other matters. As the City Council for the Town of Los Altos Hills has made the findings required by Government Code Section 54953, the Council, the Planning Commission and Committees will continue to conduct meetings by teleconference and the Council Chambers will not be open to the public for this City Council meeting. Pursuant to the requirements of Government Code Section 54953(e), members of the public will be provided with notice of how they may access the meeting and offer public comment. Members of the Public may participate and provide public comments to teleconference meetings as follows below. Members of the Public may participate and provide public comments to teleconference meetings as follows:

Join Zoom Meeting
https://us02web.zoom.us/j/83033175846?pwd=RWFhWFd6QnlxNk1xZU1pU2VNcnhjUT09 Meeting ID: 830 3317 5846
Passcode: 576338
Phone: 669 900 6833

1. Roll Call

2. Introduction of Guests (PFM, PARS)

3. Approval of minutes – FIC Special Meeting, Monday, December 12, 2022.

4. Review of PFM December 2022 quarter report – PFM

5. Approval of Recommended Changes to the Investment Policy- Sarina Revillar

6. Presentation by PARS on Managing Town OPEB Investments- PARS

7. Mid-year Budget Review -Sarina Revillar (Trial Balance)

8. Committee Code of Conduct/ Conflict of Interest – Allan Epstein

9. Report on Town activities of interest- Peter Pirnejad-Special Expenditures due to Storm Damage

10. Report on Finance activities of interest – Sarina Revillar – Accounting policies; Quarterly FIC Financial Status Report, Cash and Investment Summary Worksheet December 31, 2022, Civil Grand Jury Notice of Requirement to Report Distributions, Receipts and Fund Balances Monthly, Most Recent Insurance Claim Information

11. Report on recent Council activities of interest – Mayor Swan- 2023 Goals/Priorities, Ad Hoc Committee on Committee Code of Conduct

12. Next FIC meeting: TBD

13. Topics for future meetings include Insurance and Workers comp rates; Review of long-term capital plans and related policies; review Finance Department quarterly report on financial controls; Accounting policy review.

14. Presentations from the floor

15. Adjournment
Attachment 1

Attachments/links (correspond to agenda item numbers above):

3. Draft Minutes FIC Special Meeting, Monday, December 12, 2022

4. PFM 4th Quarter 2022 Investment Report

5. Proposed Investment Policy Redline

6. PARS OPEB Presentation, PARS Calendar 2022 Performance Report, CalPERS CERBT OPEB Account Update Report Calendar 2022

7. Mid-year Budget Update and December 31, 2022 Trial Balance

8. Committee Code of Conduct Power Point presentation and proposed motion from Committee Chairs’ Meeting

10. Quarterly FIC Financial Status Report, Cash and Investment Summary Worksheet December 31, 2022, Civil Grand Jury Notice of Requirement to Report Distributions, Receipts and Fund Balances Monthly, Most Recent Insurance Claim Information

11. 2023 Council Approved Town Goals
Notice to the Public
Any writings or documents provided to the Finance and Investment Committee regarding any item on the open session portion of the agenda will be made available for public inspection at the Town Clerk’s office, 26379 Fremont Road, Los Altos Hills during normal business hours.

Distribution:

Public posting by Deborah Padovan
Email distribution by Deborah Padovan to Committee members and other invited attendees: Linda Swan (Mayor), Stan Mok (Vice Mayor), Peter Pirnejad, (Town Manager), Committee Members: Nathan Blair, Allan Epstein, Cheryl Evans, Kjell Karlsson, Jim Lai (Associate Member), Frank Lloyd (Associate Member), Susan Mason, Christopher Nam, Medha Rishi, and Roddy Sloss.

Attachment 2
Portfolio Mix Charts
December 31, 2022
Portfolio Mix
Security Type % of Total By Security
LAIF 21.7% 6,042,597
Money Market 0.1% 28,186
Corp Notes 17.1% 4,765,000
Certificate of Deposits 0.4% 125,000
Federal Home Loan Banks 2.4% 678,661
Federal Nat'l Mortgage 3.8% 1,071,562
Municipal Bonds 5.3% 1,470,000
Supra-National Agency Bond 1.5% 405,000
US Treasury 47.6% 13,260,000
100% 27,846,006
Portfolio Mix Market
Security Type % of Total Par Value Value
LAIF 21.7% 6,042,597 6,042,597
Money Market 0.1% 28,186 28,186
Corp Notes 17.1% 4,765,000 4,458,943
Certificate of Deposits 0.4% 125,000 123,793
Federal Agencies 6.3% 1,750,223 1,622,297
Municipal Bonds 5.3% 1,470,000 1,371,886
Supra-National Agency Bond 1.5% 405,000 379,302
US Treasury 47.6% 13,260,000 12,383,866
100% 27,846,006 26,410,870
Portfolio Mix Market
Class Type % of Total Par Value Value
Corp Notes 21.9% 4,765,000 4,458,943
US Treasury/Agencies 68.9% 15,010,223 14,006,163
Supra-National Agency Bond 1.9% 405,000 379,302
Municipal Bonds 6.8% 1,470,000 1,371,886
Certificate of Deposits 0.6% 125,000 123,793
Accrued Interest - 90,123
100% 21,775,223 20,430,211
Margin Over (Under) Par (1,345,012)
Corp Notes

21.9%
US Treasury/Agencies

68.9%
SupraNational
Agency Bond

1.9%
Municipal
Bonds

6.8% Certificate of
Deposits 0.6%

PORTFOLIO MIX - BY CLASS
LAIF

21.7%
Money Market

0.1%
Corp Notes

17.1%
Certificate of
Deposits

0.4%
Federal Home
Loan Banks

2.4%
Federal Nat'l
Mortgage

3.8%
Municipal
Bonds…
Supra-National
Agency Bond…
US Treasury

47.6%

PORTFOLIO MIX - BY SECURITY

Attachment 3
Investment Policy Compliance Chart
December 31, 2022
Earliest City Policy City Policy City Policy % Compliance Term Compliance City Investment % Mix Par Value Term Term Limitation $ Limitation % Limitation CAPACITY Yes/No Yes/No LAIF 21.7% 6,042,597 01/00/00 No Term 75,000,000 100% 68,957,403 Yes N/A Money Market 0.1% 28,186 01/00/00 No Term 100% 27,817,820 Yes N/A Corp Notes 17.1% 4,765,000 11/05/19 5 Years 30% 3,588,802 Yes No Certificate of Deposits 0.4% 125,000 03/19/21 5 Years 30% 8,228,802 Yes No Federal Agencies 6.3% 1,750,223 12/13/19 5 Years 100% 26,095,783 Yes No Municipal Bonds 5.3% 1,470,000 10/29/19 5 Years 30% 6,883,802 Yes No Supra-National 1.5% 405,000 02/19/21 5 Years 30% 7,948,802 Yes No US Treasury 47.6% 13,260,000 11/01/19 5 Years 100% 14,586,006 Yes No 100% 27,846,006

Investment Performance Review
For the Quarter Ended December 31, 2022
Client Management Team PFM Asset Management LLC
Monique Spyke, Managing DirectorWale Kajopaiye, Senior Managing Consultant 213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
1 California Street Ste. 1000
San Francisco, CA 94111-5411
415-393-7270
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public

LOS ALTOS HILLS
Attachment 4

© PFM Asset Management LLC pfmam.com |
• Market Update• Account Summary• Portfolio Review

© PFM Asset Management LLC pfmam.com |
Market Update

PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
The Year in Review
Beginning in March, the Fed hiked rates by 425 basis points in 2022 • The 2-year treasury yield rose just
370 bps through 2022
Consumer spending remained resilient despite price pressures and extended credit levelsEnergy prices surged due to uncertainty, geopolitical conflict (war in Ukraine), and storage challenges2022 saw an uncommon phenomenon of both stocks and bonds posting negative
returns
-19.4%
-13.0%
-5.3%

1.5%

6.7%
-20%-15%-10%
-5%
0%5%
10%
S&P 500 Barclays
U.S. Bond
Aggregate
1-5 Year
Gov/Corp A
or Better
Cash Crude Oil
2022 Asset Class Returns
Source: Bloomberg, as of 12/31/2022.

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
1

PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Current Market Themes
▸ The U.S. economy is characterized by:
▹ High inflation that shows signs of slowing▹ Continued strong labor market▹ Potentially declining health of U.S. household finances▹ Expectations for a modest yet broad economic downturn ▸ The Federal Reserve is expected to wrap up their normalization process
▹ Slowing pace of rate hikes▹ Fed projecting short-term fed funds rate to reach 5.00% to 5.25% by yearend, with markets expecting rate cuts in the second half of 2023▹ Fed officials reaffirm that restoring price stability is the utmost priority, despite risks of overtightening
▸ Volatile markets potentially calming
▹ Treasury yields in the belly of the curve (3-7 years) ended the quarter slightly lower, while shorter and longer maturities ended higher ▹ Yield curve inversion has deepened further since last quarter▹ While still elevated, volatility and liquidity challenges have begun subsiding

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
2

For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: Bloomberg, as of 12/31/2022.

Rates Remain Sensitive to Fed and Inflation
The 2-year
Treasury is
commonly used
to gauge market
reactions and
near-term policy
expectations

3.75%4.00%4.25%4.50%4.75%5.00%
Oct-22 Nov-22 Dec-22 Jan-23
Hundreds
2-Year US Treasury Yield
October 13th CPI
Consumer prices rise more than expected, catalyzing uncertainty; +17 bps November 10th CPI
The first tangible sign that inflation is slowing; -24 bps November 3rd
Hawkish stance from the FOMC regarding higher rates; +10 bps November 30th
Powell confirms that upcoming rate hikes will be smaller; -16 bps

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
3

PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Inflation Now Trending Lower
Source: Bloomberg, as of December 2022.

Lower energy
and goods
prices help to
offset increases
in wage-driven
services costs
Dec-22

6.5%
-2%
0%2%4%6%8%
10%
Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Consumer Prices (CPI)
Top-Line Contributions and Year-over-Year Reading
Services (Ex Food & Energy) Goods (Ex Food & Energy) FoodEnergy Headline YoY% Bloomberg Forecasts
Q1‘23
Q2‘23
Q3‘23
Dec-22

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
4

PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: Federal Reserve and Bloomberg. Individual dots represent each Fed members’ judgement of the midpoint of the appropriate target range for the federal funds rate at each year-end.

Fed’s “Dot Plot” Suggests Expectations for a Drawn Out Normalization of Policy 0%1%2%3%4%5%6%
Fed Participants’ Assessments of ‘Appropriate’ Monetary Policy Dec-22 FOMC ProjectionsDec-22 Median
Dec 2023 Dec 2024 Dec 2025 Longer Term

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
5

For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update What Could the Fed’s Pivot Look Like?

CLIENT NAME
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
+25
+50
+75 +75 +75 +75
+50
+25 +25
-25 -25 -25
0%1%
2%3%4%5%6%
-50-25
0 255075
100
Jan-22 May-22 Jul-22 Nov-22 Feb-23 May-23 Jul-23 Nov-23 Jan-24 Basis Point Change
FOMC Meeting Dates
Changes to the Target Fed Funds Rate
Actual Market Expectation FF Mid-Point (right axis)
Source: Bloomberg WIRP Interest Rate Probability as of 1/9/2023.

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
6

PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Recession Gauge Flashing Yellow, but GDP Expected to Grow by End of Year Labor
market
Consumer
Retail sales
Manufacturing
Inverted
yield curve
Recession Risk
Rate hike cycle
Inflation

1.1%

0.1%
-0.6%

0.0%

0.9%

1.5%

1.8%
-2.0% -1.5%
-1.0%-0.5%

0.0%0.5%1.0%1.5%2.0%2.5%
Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Q2 '24
U.S. GDP Forecasts
Annualized Rate
Range Median of Forecasts
Source: Bloomberg, Economist Forecasts. Recession risk based on most recent economic data as of 1/9/2023.

Housing

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
7

PFM Asset Management LLC
For the Quarter Ended June 30, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Yield Curve Inversion Deepens
4Q2022
12/31/22
3Q2022
09/30/22
QoQ
Change
3-month 4.34% 3.25% +1.10%
1-year 4.69% 3.93% +0.75%2-year 4.43% 4.28% +0.15%3-year 4.22% 4.29% -0.06%5-year 4.00% 4.09% -0.09% 10-year 3.87% 3.83% +0.05%30-year 3.96% 3.78% +0.19% 0.0%

1.0%2.0%3.0%4.0%5.0%
3 M
1 Y
2 Y
3 Y
4 Y
5 Y
10 Y
30 Y
Maturity
U.S. Treasury Yield Curve
December 31, 2022September 30, 2022December 31, 2021
Source: Bloomberg, as of December 2022.

Treasury yield in the belly of the
curve ended the quarter slightly
lower, while shorter and longer
maturities ended higher

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
8

PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Higher Yields Can Offset Some of the Price Depreciation Woes Source: ICE BofAML Indices via Bloomberg, as of 12/31/2022. PFMAM Calculations. Income return represents the yield of the benchmark index, as of the end of the prior calendar year, respective to the year of performance shown.

4.34%

4.75%

4.22%

4.00% 3.97%

3.87%

2.5%3.0%

3.5%4.0%4.5%5.0%5.5%
Yield
U.S. Treasury Yield Curve
December 31, 2022September 30, 2022
3mo 2yr 5yr 7yr 10yr
2023
Starting Yield:

4.33%
-8%-6%
-4%-2%
0%2%4%6%8%
10%
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
2022
Annual Price & Income Returns
1-5 Year Treasury Index
Income Return Price Return Total Return

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com |
9

PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Sector Yield Spreads
Source: ICE BofAML 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of 12/31/2022. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries. CMBS is Commercial Mortgage-Backed Securities. -0.3%-0.2%-0.1%

0.0%0.1%0.2%0.3%0.4%0.5%0.6%
Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22
Federal Agency Yield Spreads
Bullet Callable

0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22
Corporate Notes A-AAA Yield Spreads

0.0%0.5%1.0%1.5%2.0%
Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22
Mortgage-Backed Securities Yield Spreads
Agency MBS AAA CMBS Index

0.0%0.4%0.8%1.2%1.6%
Dec-21 Mar-22 Jun-22 Sep-22 Dec-22
Asset-Backed Securities AAA Yield Spreads

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com | 10

PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: ICE BofAML Indices. ABS indices are 0-5 year, based on weighted average life. As of 12/31/2022.Right Chart: Generic US Treasury securities via Bloomberg, change in yield from 9/30/2022 to 12/31/2022.

Fixed-Income Markets in Q4 2022

0.95%

0.87%

0.78%

1.73%

2.18%

0.0%0.5%1.0%1.5%2.0%2.5%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-5 Year Indices Quarterly Returns

1.10%

0.85%

0.15%
-0.09%

0.05%
-0.20%

0.00%0.20%0.40%0.60%0.80%1.00%1.20%
3-Month 6-Month 2-Year 5-Year 10-Year
Change in U.S. Treasury Yield
September 30, 2022 – December 31, 2022

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com | 11

PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Fixed-Income Sector Commentary – 4Q 2022
▸ U.S. Treasury yields settled into a wide range after
surging for the first three quarters of the year. Theresult of more stable yields was generally positivereturns for the quarter. ▸ Federal agency bullet spreads finally broke single
digits and climbed to the widest levels in the past 12months for certain maturities. Callable structures wereattractive early in the quarter as new issues came tomarket at wide levels on the heels of historically highbond volatility. ▸ Supranational issuance fell notably short of
expectations in Q4 limiting new investmentopportunities. Liquidity was better than that of federalagencies, which provided some ability to swap intoother sectors which were more attractive. ▸ Investment-Grade Corporate yield spreads
fluctuated in Q4 underscoring the historic levels ofvolatility experienced throughout the year. Afterreaching post-pandemic wides in late October, creditspreads reversed, ending the quarter modestly tighter.The sector generated strong excess returns in Q4 andbuoyed portfolio returns relative to benchmarks. ▸ Asset-Backed yield spreads lagged the narrowing
move in the corporate sector for much of Q4 butrallied into year end, ending the quarter only modestlywider than where they began. ABS and IG corporatespreads diverged markedly in November, growing tothe widest margin since 2020 and leading to a yearend rally which brought performance just shy ofmatched-duration U.S. Treasuries. ▸ Mortgage-Backed Securities reversed course in Q4
after the dreadful negative returns for the first threequarters of 2022. Although still negative for the year,excess returns on MBS were near top-of-classamongst investment-grade options in Q4. ▸ Taxable Municipal issuance remained
underwhelming as deals were heavily oversubscribed,dragging spreads lower, while secondary inventory atattractive levels was sparse. ▸ The short-term credit (commercial paper and CDs)
yield curve was notably steep throughout the quarteras the market priced the expectation for further Fedrate increases. The aggressive pace of those ratehikes created valuable opportunities in floating-ratesecurities.

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com | 12

PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities CLIENT NAME Market Update For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Fixed-Income Sector Outlook – 1Q 2023
Negative Slightly Negative Neutral Slightly Positive Current outlook Outlook one quarter ago Positive Sector Our Investment Preferences

C O M M E R C I A L P A P E R
/ C D

T R E A S U R I E S
T-Bill
T-Note

F E D E R A L A G E N C I E S
Bullets
Callables

S U P R A N A T I O N A L S

C O R P O R A T E S
Financials
Industrials

S E C U R I T I Z E D
Asset-Backed
Agency Mortgage-Backed
Agency CMBS

M U N I C I P A L S

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Market Update
© PFM Asset Management LLC pfmam.com | 13

© PFM Asset Management LLC pfmam.com |
Account Summary

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Account Summary
|
Account Summary

1. Yield at market, yield on cost, and portfolio duration only include investments held within the separately managed account(s), excludes balances invested in overnight funds.

The current 7-day yield is the net change, exclusive of capital changes and income other than investment income, in the value of a hypothetical fund account with a balance of one share over the seven-day base period including the statement date, expressed as a percentage of the value of one share (normally $1.00 per share) at the beginning of the seven-day period. This resulting net change in account value is then annualized by multiplying it by 365 and dividing the result by 7. The yields quoted should not be considered a representation of the yield of the fund in the future, since the yield is not fixed.

2. LOS ALTOS HILLS - OPERATING FUND - 581-00
Portfolio Values December 31, 2022CAMP Managed Account $20,340,087 CAMP Pool $28,186
Amortized Cost $21,660,439
Market Value $20,340,087
Accrued Interest $90,123
Cash $0
Analytics¹ December 31, 2022

4.51%1.57%

2.39 Yield at Market
Yield on Cost
Portfolio DurationCAMP Pool 7-Day Yield

4.50%
15

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Account Summary
|
Account Summary
CAMP Managed Account $20,430,211
CAMP Pool $28,186Total Program $20,458,397
Consolidated Summary
Sector Allocation

0.0% 0.0% 0.6% 0.0%

10.9%

28.0%

24.7%

19.0% 16.9%

0.0% 0.0% 0.0%
$0$2
$4$6$8
Millions
Under
30 days
31 to 60
days
61 to 90
days
91 to
180 days
181 days
to 1 year
1 to 2 years
2 to 3 years
3 to 4 years
4 to 5 years
5 to 7 years
7 to 10
years
Over 10
years
Maturity Distribution
(Weighted Average Maturity: 915 Days)
Account summary and sector allocation include market values, accrued interest, and overnight balances. Maturity distribution includes market values and excludes accrued interest and overnight balances U.S. Treasury | 61%Corporate | 22%Municipal | 7%Federal Agency | 5% Agency CMBS | 3%
Supranational | 2%Negotiable CD | 1%Joint Powers Authority | <1% 16

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Account Summary
|

0.1%

21.9%

0.6%

6.7%

1.9%

2.9%

5.1%

60.8%

0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
Joint Powers Authority - $28,186
Corporate - $4,486,590
Negotiable CD - $124,387
Municipal - $1,379,600
Supranational - $380,467
Agency CMBS - $586,764
Federal Agency - $1,038,293
U.S. Treasury - $12,434,110
Portfolio Allocation Sector Limit for Analysis*
Sector Allocation Analytics
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest.*Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided. 17

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Compliance
|
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM").

Certificate of Compliance
During the reporting period for the quarter ended December 31, 2022, the account(s) managed by PFM Asset Management("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged : PFM Asset Management LLC
18

© PFM Asset Management LLC pfmam.com |
Portfolio Review:

CAMP-TOWN OF LOS ALTOS HILLS

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Snapshot
|
Total market value includes accrued interest and balances invested in CAMP, as of December 31, 2022.Yield and duration calculations exclude balances invested in CAMP.The portfolio’s benchmark is currently the ICE BofAML 1-5 Year U.S Treasury Index. Prior to 9/30/19 it was the ICE BofAML 1-3 Year U.S Treasury Index. Source: Bloomberg.

An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.

1. Portfolio Snapshot - CAMP-TOWN OF LOS ALTOS HILLS¹
Credit Quality - S&P
12%
29% 27% 25%
7% 5%
35%
27%
22%
11%
0%
10%20%30%40%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 61%Corporate | 22%Municipal | 7%Federal Agency | 5% Agency CMBS | 3%
Supranational | 2%Negotiable CD | 1%Joint Powers Authority | <1% Sector Allocation
AAA | 4%AAAm | <1%AA+ | 71%AA | 3%AA- | 3%A+ | 3%A | 6%A- | 6% BBB+ | 3%
A-2 | 1%
Not Rated | 1%
Portfolio Statistics
Portfolio Effective Duration 2.39 years
Benchmark Effective Duration 2.48 yearsPortfolio Credit Quality AA Yield At Market 4.51%
Yield At Cost 1.57%
Total Market Value $20,458,397.09
Managed Account Sub-Total $20,340,087.47Pool $28,186.33 Accrued Interest $90,123.29
20

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Characteristics
|
$0.0$4.2$8.4
$12.6$16.8$21.0
Millions
December 2022
$0.0$4.2$8.4
$12.6$16.8$21.0
Millions
September 2022
$0.0$4.2$8.4
$12.6$16.8$21.0
Millions
June 2022
$0.0$4.2$8.4
$12.6$16.8$21.0
Millions
March 2022
Sector Allocation Review - CAMP-TOWN OF LOS ALTOS HILLS U.S. Treasury Federal Agency Agency CMBS Supranational Municipal Negotiable CD Corporate Joint Powers Authority Market values, excluding accrued interest. Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. Detail may not add to total due to rounding.

Security Type Mar-22 % of Total Jun-22 % of Total Sep-22 % of Total Dec-22 % of Total U.S. Treasury $12.4 59.5% $12.5 60.5% $12.0 59.4% $12.4 60.8%Federal Agency $1.3 6.4% $1.2 5.8% $1.2 5.7% $1.0 5.1% Agency CMBS $0.8 3.8% $0.7 3.5% $0.7 3.6% $0.6 2.9%
Supranational $0.6 2.8% $0.5 2.4% $0.5 2.4% $0.4 1.9%Municipal $1.5 7.3% $1.5 7.3% $1.4 6.8% $1.4 6.7%Negotiable CD $0.3 1.4% $0.1 0.6% $0.1 0.6% $0.1 0.6%Corporate $3.9 18.4% $4.0 19.2% $4.3 21.1% $4.5 21.9%Joint Powers Authority $0.1 0.4% $0.1 0.7% $0.1 0.4% $0.0 0.1%Total $20.8 100.0% $20.6 100.0% $20.2 100.0% $20.4 100.0% 21

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Activity
|
Portfolio Activity - CAMP-TOWN OF LOS ALTOS HILLS
Net Activity by Sector
($ millions)
Agency CMBS
Federal Agency
SupranationalCorporate
U.S. Treasury
Agency CMBS
Federal Agency
Supranational
Corporate
U.S. Treasury
($1.0) ($0.5) $0.0 $0.5 $1.0 $1.5
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.

Sector Net ActivityU.S. Treasury $329,820Corporate $150,699Supranational ($110,033)Federal Agency ($130,469) Agency CMBS ($147,273)
Total Net Activity $92,744
Sales/Maturities Purchases
22

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Performance
|

1. The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is March 31, 2006.2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.3. Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.4. The portfolio’s benchmark is currently the ICE BofAML 1-5 Year U.S Treasury Index. Prior to 9/30/19 it was the ICE BofAML 1-3 Year U.S Treasury Index. Source: Bloomberg. -6.0%-4.0%-2.0%

0.0%2.0%
Return
Portfolio Benchmark Net of Fees
Portfolio Performance
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 YearsInterest Earned² $82,636 $307,820 $926,121 $1,538,292 $2,330,070Change in Market Value $123,171 ($1,387,206) ($1,436,753) ($1,223,382) ($1,669,044) Total Dollar Return $205,807 ($1,079,386) ($510,632) $314,910 $661,026 Total Return³
Portfolio 1.02% -5.01% -0.46% 0.77% 0.71%Benchmark⁴ 0.95% -5.25% -0.77% 0.52% 0.54%Basis Point Fee 0.03% 0.10% 0.10% 0.10% 0.10%Net of Fee Return 0.99% -5.11% -0.56% 0.67% 0.61% 3 Months 1 Year 3 Years 5 Years 10 Years
23

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Performance
|

1. The lesser of 10 years or since inception is shown. Performance inception date is March 31, 2006.2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.3. Realized gains / (losses) are shown on an amortized cost basis.

Accrual Basis Earnings - CAMP-TOWN OF LOS ALTOS HILLS
Accrual Basis EarningsInterest Earned²Realized Gains / (Losses)³Change in Amortized CostTotal Earnings 3 Months
$82,636
($35,126)
($2,557)
$44,953
1 Year
$307,820
($88,351)($53,804)
$165,665
3 Years
$926,121$154,119
($188,576)
$891,663
5 Year
$1,538,292
$127,611
($163,798)
$1,502,105
10 Year¹
$2,330,070
$154,258
($492,028)
$1,992,301
24

© PFM Asset Management LLC pfmam.com |
Portfolio Holdings and Transactions

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Account Summary
|
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balancesinvested in overnight funds.

Issuer Diversification
Security Type / Issuer Market Value (%) S&P / Moody's / FitchU.S. Treasury 60.9% UNITED STATES TREASURY 60.9% AA / Aaa / AAA
Federal Agency 5.1%
FANNIE MAE 3.1% AA / Aaa / AAA
FEDERAL HOME LOAN BANKS 0.6% AA / Aaa / NRFREDDIE MAC 1.4% AA / Aaa / AAA Agency CMBS 2.9%
FANNIE MAE 0.3% AA / Aaa / AAA
FREDDIE MAC 2.6% AA / Aaa / AAA
Supranational 1.9%
INTER-AMERICAN DEVELOPMENT BANK 1.9% AAA / Aaa / AAA
Municipal 6.8%
ARIZONA TRANSPORTATION BOARD 0.9% AA / Aa / NR
FLORIDA STATE BOARD OF ADMIN FIN CORP 1.3% AA / Aa / AALOS ANGELES COMMUNITY COLLEGEDISTRICT

0.3% AA / Aaa / NR
LOS ANGELES UNIFIED SCHOOL DISTRICT 0.2% NR / Aa / AAANEW YORK ST URBAN DEVELOPMENT CORP 0.7% AA / NR / AASAN DIEGO COMMUNITY COLLEGE DISTRICT 0.1% AAA / Aaa / NRSAN DIEGO COUNTY WATER AUTHORITY 0.5% AAA / Aa / AASAN JUAN UNIFIED SCHOOL DISTRICT 0.3% NR / Aa / NRSAN RAMON VALLEY UNIFIED SCHOOLDISTRICT

0.3% AA / Aa / NR
STATE OF CONNECTICUT 0.7% AA / Aa / AA
STATE OF MARYLAND 0.5% AAA / Aaa / AAASTATE OF MINNESOTA 0.2% AAA / Aaa / AAASTATE OF MISSISSIPPI 0.1% AA / Aa / AASTATE OF WISCONSIN 0.6% AAA / NR / AA Security Type / Issuer Market Value (%) S&P / Moody's / FitchNegotiable CD 0.6% CREDIT SUISSE GROUP RK 0.6% BBB / A / BBB
Corporate 22.0%
ABBOTT LABORATORIES 0.6% AA / A / NRAMAZON.COM INC 1.2% AA / A / AAAMERICAN EXPRESS CO 0.9% BBB / A / AAMERICAN HONDA FINANCE 0.9% A / A / AASTRAZENECA PLC 0.5% A / A / A BANK OF AMERICA CO 0.5% A / A / AA
BURLINGTON NORTHERN SANTA FE 0.6% AA / A / NRCATERPILLAR INC 1.6% A / A / ACHARLES SCHWAB 0.2% A / A / ACHEVRON CORPORATION 0.5% AA / Aa / NRCITIGROUP INC 0.7% BBB / A / ACOMCAST CORP 0.6% A / A / ADEERE & COMPANY 0.9% A / A / AGENERAL DYNAMICS CORP 0.6% A / A / NRGOLDMAN SACHS GROUP INC 1.4% BBB / A / AHOME DEPOT INC 0.1% A / A / AHONEYWELL INTERNATIONAL 0.4% A / A / AIBM CORP 0.7% A / A / NRINTEL CORPORATION 0.8% A / A / AJP MORGAN CHASE & CO 0.6% A / A / AAMORGAN STANLEY 0.3% A / A / ANATIONAL RURAL UTILITIES CO FINANCECORP

0.2% A / A / A
NORTHERN TRUST 0.5% A / A / ANOVARTIS AG 0.7% AA / A / AA 26

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Account Summary
|
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balancesinvested in overnight funds.

Issuer Diversification
Security Type / Issuer Market Value (%) S&P / Moody's / FitchCorporate 22.0% PNC FINANCIAL SERVICES GROUP 1.2% A / A / A
TARGET CORP 0.6% A / A / ATHE BANK OF NEW YORK MELLONCORPORATION

1.4% A / A / AA
TOYOTA MOTOR CORP 0.7% A / A / ATRUIST FIN CORP 0.7% A / A / AUNITEDHEALTH GROUP INC 0.7% A / A / AWAL-MART STORES INC 0.8% AA / Aa / AA Total 100.0%
27

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LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Composition
|
Issuer Distribution
As of December 31, 2022
Issuer Market Value ($) % of PortfolioUNITED STATES TREASURY 12,383,866 60.79%FREDDIE MAC 813,117 3.98%FANNIE MAE 685,589 3.37%INTER-AMERICAN DEVELOPMENT BANK 379,302 1.86%CATERPILLAR INC 329,532 1.62%GOLDMAN SACHS GROUP INC 279,810 1.37%THE BANK OF NEW YORK MELLON CORPORATION 278,026 1.36%FLORIDA STATE BOARD OF ADMIN FIN CORP 265,054 1.30% AMAZON.COM INC 239,214 1.17%
PNC FINANCIAL SERVICES GROUP 236,447 1.16%DEERE & COMPANY 188,194 0.92% ARIZONA TRANSPORTATION BOARD 182,546 0.90%AMERICAN HONDA FINANCE 176,948 0.87%AMERICAN EXPRESS CO 176,905 0.87% WAL-MART STORES INC 162,328 0.80%INTEL CORPORATION 153,883 0.76%NEW YORK ST URBAN DEVELOPMENT CORP 151,508 0.74%UNITEDHEALTH GROUP INC 145,054 0.71%IBM CORP 143,916 0.71%CITIGROUP INC 142,545 0.70%TRUIST FIN CORP 142,119 0.70%STATE OF CONNECTICUT 141,761 0.70%NOVARTIS AG 141,673 0.70%TOYOTA MOTOR CORP 136,633 0.67% 28

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Composition
|
Issuer Market Value ($) % of PortfolioCREDIT SUISSE GROUP RK 123,793 0.61%FEDERAL HOME LOAN BANKS 123,591 0.61% ABBOTT LABORATORIES 123,378 0.61%
BURLINGTON NORTHERN SANTA FE 122,030 0.60%GENERAL DYNAMICS CORP 121,615 0.60%COMCAST CORP 118,144 0.58%TARGET CORP 117,917 0.58%STATE OF WISCONSIN 112,716 0.55%JP MORGAN CHASE & CO 112,618 0.55%CHEVRON CORPORATION 111,805 0.55% ASTRAZENECA PLC 111,384 0.55%
NORTHERN TRUST 97,702 0.48%BANK OF AMERICA CO 97,364 0.48%SAN DIEGO COUNTY WATER AUTHORITY 94,342 0.46%STATE OF MARYLAND 94,248 0.46%HONEYWELL INTERNATIONAL 87,121 0.43%SAN JUAN UNIFIED SCHOOL DISTRICT 70,457 0.35%MORGAN STANLEY 69,013 0.34%LOS ANGELES COMMUNITY COLLEGE DISTRICT 63,524 0.31%SAN RAMON VALLEY UNIFIED SCHOOL DISTRICT 63,159 0.31%STATE OF MINNESOTA 49,724 0.24%CHARLES SCHWAB 47,590 0.23%LOS ANGELES UNIFIED SCHOOL DISTRICT 44,679 0.22%NATIONAL RURAL UTILITIES CO FINANCE CORP 33,683 0.17%CAMP POOL 28,186 0.14%SAN DIEGO COMMUNITY COLLEGE DISTRICT 19,709 0.10%STATE OF MISSISSIPPI 18,459 0.09% 29

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Composition
|
Issuer Market Value ($) % of PortfolioHOME DEPOT INC 14,351 0.07% Grand Total 20,368,274 100.00%
30

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Holdings
|
Managed Account Detail of Securities Held
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY NOTESDTD 08/31/2018 2.750% 08/31/2023
9128284X5 200,000.00 AA+ Aaa 3/2/2020 3/4/2020 213,273.44 0.82 1,868.78 202,519.35 197,437.50 US TREASURY N/B NOTESDTD 08/31/2021 0.125% 08/31/2023
91282CCU3 550,000.00 AA+ Aaa 9/8/2021 9/9/2021 549,011.73 0.22 233.60 549,668.29 533,414.09 US TREASURY NOTESDTD 09/30/2016 1.375% 09/30/2023
912828T26 600,000.00 AA+ Aaa 11/1/2019 11/6/2019 596,156.25 1.54 2,107.83 599,265.80 585,093.72 US TREASURY N/B NOTESDTD 11/30/2021 0.500% 11/30/2023
91282CDM0 300,000.00 AA+ Aaa 12/1/2021 12/3/2021 299,449.22 0.59 131.87 299,747.72 288,609.36 US TREASURY NOTESDTD 01/03/2017 2.250% 12/31/2023
912828V23 185,000.00 AA+ Aaa 11/1/2019 11/6/2019 190,166.99 1.55 11.50 186,240.62 180,519.52 US TREASURY N/B NOTESDTD 12/31/2021 0.750% 12/31/2023
91282CDR9 175,000.00 AA+ Aaa 1/4/2022 1/5/2022 174,917.97 0.77 3.63 174,958.82 168,246.09 US TREASURY NOTESDTD 01/31/2019 2.500% 01/31/2024
9128285Z9 925,000.00 AA+ Aaa 9/8/2021 9/9/2021 973,634.77 0.29 9,677.31 946,980.25 903,031.25 US TREASURY NOTESDTD 02/28/2017 2.125% 02/29/2024
912828W48 140,000.00 AA+ Aaa 11/1/2019 11/6/2019 143,335.94 1.55 1,010.84 140,897.49 135,909.37 US TREASURY NOTESDTD 03/31/2017 2.125% 03/31/2024
912828W71 275,000.00 AA+ Aaa 1/2/2020 1/6/2020 280,381.83 1.64 1,493.05 276,583.92 266,363.30 US TREASURY NOTESDTD 05/01/2017 2.000% 04/30/2024
912828X70 400,000.00 AA+ Aaa 11/1/2019 11/6/2019 407,671.88 1.56 1,370.17 402,272.98 385,937.52 US TREASURY N/B NOTESDTD 06/30/2022 3.000% 06/30/2024
91282CEX5 400,000.00 AA+ Aaa 7/1/2022 7/6/2022 401,281.25 2.83 33.15 400,964.91 390,375.00 US TREASURY NOTESDTD 07/31/2019 1.750% 07/31/2024
912828Y87 385,000.00 AA+ Aaa 3/2/2020 3/4/2020 400,159.38 0.84 2,819.50 390,432.90 368,216.39 US TREASURY N/B NOTESDTD 08/15/2021 0.375% 08/15/2024
91282CCT6 250,000.00 AA+ Aaa 9/1/2021 9/3/2021 249,824.22 0.40 354.11 249,903.38 233,554.70 US TREASURY N/B NOTESDTD 09/15/2021 0.375% 09/15/2024
91282CCX7 800,000.00 AA+ Aaa 9/8/2021 9/15/2021 798,406.25 0.44 895.03 799,094.06 745,375.04 US TREASURY NOTESDTD 10/31/2017 2.250% 10/31/2024
9128283D0 200,000.00 AA+ Aaa 11/1/2019 11/6/2019 206,570.31 1.56 770.72 202,413.80 192,031.24 31

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY NOTESDTD 01/31/2018 2.500% 01/31/2025
9128283V0 240,000.00 AA+ Aaa 2/3/2020 2/5/2020 253,115.63 1.36 2,510.87 245,478.04 230,737.49 US TREASURY N/B NOTESDTD 02/15/2022 1.500% 02/15/2025
91282CDZ1 120,000.00 AA+ Aaa 4/1/2022 4/5/2022 116,254.69 2.64 679.89 117,224.11 112,912.50 US TREASURY N/B NOTESDTD 02/15/2022 1.500% 02/15/2025
91282CDZ1 275,000.00 AA+ Aaa 2/11/2022 2/15/2022 272,873.05 1.77 1,558.09 273,494.06 258,757.81 US TREASURY N/B NOTESDTD 05/15/2022 2.750% 05/15/2025
91282CEQ0 200,000.00 AA+ Aaa 7/1/2022 7/6/2022 199,289.06 2.88 714.09 199,410.95 192,750.00 US TREASURY N/B NOTESDTD 08/15/2022 3.125% 08/15/2025
91282CFE6 265,000.00 AA+ Aaa 10/4/2022 10/6/2022 258,230.08 4.08 3,127.97 258,794.24 257,257.02 US TREASURY NOTESDTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 365,000.00 AA+ Aaa 9/1/2022 9/6/2022 331,294.53 3.54 310.05 334,912.46 328,100.76 US TREASURY NOTESDTD 10/31/2020 0.250% 10/31/2025
91282CAT8 600,000.00 AA+ Aaa 9/8/2021 9/9/2021 589,710.94 0.67 256.91 592,968.35 536,437.50 US TREASURY NOTESDTD 10/31/2020 0.250% 10/31/2025
91282CAT8 185,000.00 AA+ Aaa 3/30/2021 4/1/2021 180,309.96 0.82 79.21 182,103.05 165,401.56 US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/2025
91282CBC4 360,000.00 AA+ Aaa 5/5/2021 5/7/2021 354,164.06 0.73 3.73 356,238.76 321,525.00 US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/2025
91282CBC4 185,000.00 AA+ Aaa 1/29/2021 2/2/2021 184,602.54 0.42 1.92 184,757.27 165,228.13 US TREASURY NOTESDTD 01/31/2021 0.375% 01/31/2026
91282CBH3 85,000.00 AA+ Aaa 2/25/2021 2/26/2021 83,359.77 0.77 133.39 83,973.95 75,596.88 US TREASURY NOTESDTD 01/31/2021 0.375% 01/31/2026
91282CBH3 315,000.00 AA+ Aaa 7/2/2021 7/7/2021 308,946.09 0.80 494.33 310,915.70 280,153.13 US TREASURY NOTESDTD 01/31/2021 0.375% 01/31/2026
91282CBH3 195,000.00 AA+ Aaa 9/1/2021 9/3/2021 192,356.84 0.69 306.01 193,152.58 173,428.12 US TREASURY N/B NOTESDTD 05/31/2021 0.750% 05/31/2026
91282CCF6 150,000.00 AA+ Aaa 6/2/2021 6/4/2021 149,671.88 0.79 98.90 149,775.61 133,757.82 US TREASURY N/B NOTESDTD 05/31/2021 0.750% 05/31/2026
91282CCF6 350,000.00 AA+ Aaa 2/15/2022 2/17/2022 332,691.41 1.96 230.77 336,210.68 312,101.58 US TREASURY N/B NOTESDTD 05/31/2021 0.750% 05/31/2026
91282CCF6 570,000.00 AA+ Aaa 12/1/2021 12/3/2021 559,846.88 1.16 375.82 562,286.11 508,279.72 US TREASURY N/B NOTESDTD 06/30/2021 0.875% 06/30/2026
91282CCJ8 350,000.00 AA+ Aaa 8/2/2021 8/4/2021 353,554.69 0.66 8.46 352,532.54 312,812.50 32

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY NOTESDTD 08/15/2016 1.500% 08/15/2026
9128282A7 250,000.00 AA+ Aaa 5/2/2022 5/4/2022 234,853.52 3.02 1,416.44 237,197.16 227,851.55 US TREASURY N/B NOTESDTD 08/31/2021 0.750% 08/31/2026
91282CCW9 175,000.00 AA+ Aaa 9/8/2021 9/9/2021 174,555.66 0.80 445.96 174,672.80 154,902.34 US TREASURY NOTESDTD 10/31/2019 1.625% 10/31/2026
912828YQ7 200,000.00 AA+ Aaa 12/14/2021 12/16/2021 203,593.75 1.24 556.63 202,824.53 182,500.00 US TREASURY N/B NOTESDTD 11/30/2021 1.250% 11/30/2026
91282CDK4 150,000.00 AA+ Aaa 12/1/2021 12/3/2021 150,427.73 1.19 164.84 150,335.29 134,531.25 US TREASURY N/B NOTESDTD 12/31/2021 1.250% 12/31/2026
91282CDQ1 245,000.00 AA+ Aaa 1/3/2022 1/5/2022 243,851.56 1.35 8.46 244,079.23 219,313.27 US TREASURY NOTESDTD 02/15/2017 2.250% 02/15/2027
912828V98 145,000.00 AA+ Aaa 8/4/2022 8/8/2022 141,352.34 2.85 1,232.30 141,674.71 134,850.00 US TREASURY NOTESDTD 02/15/2017 2.250% 02/15/2027
912828V98 330,000.00 AA+ Aaa 8/1/2022 8/5/2022 323,258.20 2.73 2,804.55 323,865.17 306,900.00 US TREASURY NOTESDTD 02/15/2017 2.250% 02/15/2027
912828V98 310,000.00 AA+ Aaa 6/2/2022 6/6/2022 300,663.67 2.94 2,634.58 301,801.45 288,300.00 US TREASURY NOTESDTD 08/15/2017 2.250% 08/15/2027
9128282R0 360,000.00 AA+ Aaa 12/5/2022 12/7/2022 336,726.56 3.77 3,059.51 337,066.42 332,943.77 US TREASURY NOTESDTD 08/15/2017 2.250% 08/15/2027
9128282R0 500,000.00 AA+ Aaa 11/1/2022 11/4/2022 457,187.50 4.25 4,249.32 458,610.49 462,421.90 Security Type Sub-Total 13,260,000.00 13,170,984.02 1.51 50,244.09 13,128,300.00 12,383,865.69 Supranational
INTER-AMERICAN DEVEL BK NOTESDTD 09/23/2021 0.500% 09/23/2024 4581X0DZ8 245,000.00 AAA Aaa 9/15/2021 9/23/2021 244,818.70 0.52 333.47 244,895.62 228,297.13 INTER-AMERICAN DEVELOPMENTBANK NOTESDTD 01/16/2020 1.750% 03/14/2025 4581X0DK1 160,000.00 AAA Aaa 2/19/2021 2/23/2021 168,208.00 0.47 832.22 164,453.39 151,004.48 Security Type Sub-Total 405,000.00 413,026.70 0.50 1,165.69 409,349.01 379,301.61 33

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Negotiable CD
CREDIT SUISSE NEW YORK CERTDEPOSDTD 03/23/2021 0.590% 03/17/2023 22552G3C2 125,000.00 A-2 P-2 3/19/2021 3/23/2021 125,000.00 0.59 594.10 125,000.00 123,793.25 Security Type Sub-Total 125,000.00 125,000.00 0.59 594.10 125,000.00 123,793.25 Municipal
SAN DIEGO CCD, CA TXBL GO BONDSDTD 10/16/2019 1.996% 08/01/2023 797272QN4 20,000.00 AAA Aaa 10/29/2019 10/31/2019 19,948.60 2.07 166.33 19,992.05 19,708.80 SAN DEIGO CNTY WTR AUTH, CATXBL REV BONDTD 07/22/2020 0.593% 05/01/2024 797412DL4 100,000.00 AAA Aa2 7/9/2020 7/22/2020 100,000.00 0.59 98.83 100,000.00 94,342.00 WI DEPT OF TRANS TXBL REV BONDSDTD 07/30/2020 0.624% 07/01/2024 977123X60 120,000.00 AAA NR 7/10/2020 7/30/2020 120,000.00 0.62 374.40 120,000.00 112,716.00 CT ST TXBL GO BONDSDTD 06/11/2020 1.998% 07/01/2024
20772KJW0 30,000.00 AA- Aa3 5/29/2020 6/11/2020 30,000.00 2.00 299.70 30,000.00 28,846.20

AZ TRAN BOARD TXBL REV BONDS
DTD 02/12/2020 1.958% 07/01/2024
040654XU4 190,000.00 AA+ Aa1 1/10/2020 2/12/2020 190,000.00 1.96 1,860.10 190,000.00 182,546.30 SAN JUAN USD, CA TXBL GO BONDSDTD 10/29/2020 0.702% 08/01/2024 798306WN2 75,000.00 NR Aa2 10/16/2020 10/29/2020 75,000.00 0.70 219.38 75,000.00 70,456.50 MD ST TXBL GO BONDSDTD 08/05/2020 0.510% 08/01/2024
574193TQ1 100,000.00 AAA Aaa 7/23/2020 8/5/2020 99,972.00 0.52 212.50 99,988.89 94,248.00 MS ST TXBL GO BONDSDTD 08/06/2020 0.565% 11/01/2024
605581MZ7 20,000.00 AA Aa2 7/24/2020 8/6/2020 20,000.00 0.57 18.83 20,000.00 18,459.20 NY ST URBAN DEV CORP TXBL REVBONDSDTD 12/23/2020 0.870% 03/15/2025 650036DT0 165,000.00 AA+ NR 12/16/2020 12/23/2020 165,000.00 0.87 422.68 165,000.00 151,507.95 FL ST BOARD OF ADMIN TXBL REVBONDSDTD 09/16/2020 1.258% 07/01/2025 341271AD6 75,000.00 AA Aa3 9/3/2020 9/16/2020 75,497.25 1.12 471.75 75,259.29 68,548.50 FL ST BOARD OF ADMIN TXBL REVBONDSDTD 09/16/2020 1.258% 07/01/2025 341271AD6 60,000.00 AA Aa3 9/3/2020 9/16/2020 60,424.20 1.11 377.40 60,221.20 54,838.80 34

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Municipal
FL ST BOARD OF ADMIN TXBL REVBONDSDTD 09/16/2020 1.258% 07/01/2025 341271AD6 155,000.00 AA Aa3 9/3/2020 9/16/2020 155,000.00 1.26 974.95 155,000.00 141,666.90 SAN RAMON VALLEY USD, CA TXBLGO BONDSDTD 10/20/2020 0.740% 08/01/2025 799408Z85 70,000.00 AA+ Aa1 10/2/2020 10/20/2020 70,000.00 0.74 215.83 70,000.00 63,158.90 MN ST TXBL GO BONDSDTD 08/25/2020 0.630% 08/01/2025
60412AVJ9 55,000.00 AAA Aaa 8/11/2020 8/25/2020 55,000.00 0.63 144.38 55,000.00 49,724.40 LOS ANGELES CCD, CA TXBL GOBONDSDTD 11/10/2020 0.773% 08/01/2025 54438CYK2 70,000.00 AA+ Aaa 10/30/2020 11/10/2020 70,000.00 0.77 225.46 70,000.00 63,524.30 CT ST TXBL GO BONDSDTD 09/13/2018 3.743% 09/15/2025
20772KEW5 115,000.00 AA- Aa3 11/17/2020 11/19/2020 130,827.45 0.83 1,267.42 123,879.91 112,915.05 LOS ANGELES USD, CA TXBL GOBONDSDTD 11/10/2021 1.455% 07/01/2026 544647FC9 50,000.00 NR Aa3 10/28/2021 11/10/2021 50,000.00 1.46 363.75 50,000.00 44,678.50 Security Type Sub-Total 1,470,000.00 1,486,669.50 1.04 7,713.69 1,479,341.34 1,371,886.30 Joint Powers Authority
CAMP Pool 28,186.33 AAAm NR 28,186.33 0.00 28,186.33 28,186.33 Security Type Sub-Total 28,186.33 28,186.33 0.00 28,186.33 28,186.33 Federal Agency
FEDERAL HOME LOAN BANK NOTESDTD 04/16/2020 0.500% 04/14/2025 3130AJHU6 135,000.00 AA+ Aaa 4/15/2020 4/16/2020 134,330.40 0.60 144.38 134,693.83 123,590.88 FREDDIE MAC NOTESDTD 07/23/2020 0.375% 07/21/2025
3137EAEU9 100,000.00 AA+ Aaa 7/21/2020 7/23/2020 99,502.00 0.48 166.67 99,745.54 90,487.00 FANNIE MAE NOTESDTD 08/27/2020 0.375% 08/25/2025
3135G05X7 250,000.00 AA+ Aaa 8/28/2020 9/1/2020 249,237.50 0.44 328.13 249,594.65 225,443.50 FREDDIE MAC NOTESDTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 215,000.00 AA+ Aaa 9/23/2020 9/25/2020 214,352.85 0.44 219.48 214,646.62 193,244.58 35

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Federal Agency
FANNIE MAE NOTESDTD 11/12/2020 0.500% 11/07/2025
3135G06G3 360,000.00 AA+ Aaa 12/3/2020 12/4/2020 359,838.00 0.51 270.00 359,906.26 323,464.68 FANNIE MAE NOTESDTD 11/12/2020 0.500% 11/07/2025
3135G06G3 90,000.00 AA+ Aaa 11/9/2020 11/12/2020 89,677.80 0.57 67.50 89,815.81 80,866.17 Security Type Sub-Total 1,150,000.00 1,146,938.55 0.49 1,196.16 1,148,402.71 1,037,096.81 Corporate
JOHN DEERE CAPITAL CORPCORPORATE NOTESDTD 06/04/2020 0.700% 07/05/2023 24422EVH9 40,000.00 A A2 6/1/2020 6/4/2020 39,967.20 0.73 136.89 39,994.61 39,155.40

ABBOTT LABORATORIES CORP
NOTESDTD 11/22/2016 3.400% 11/30/2023
002824BE9 125,000.00 AA- A1 3/6/2020 3/10/2020 135,191.25 1.16 365.97 127,133.96 123,377.63 CHARLES SCHWAB CORP NOTES(CALLABLE)DTD 03/18/2021 0.750% 03/18/2024 808513BN4 50,000.00 A A2 3/16/2021 3/18/2021 49,975.00 0.77 107.29 49,989.92 47,590.30 COMCAST CORP (CALLABLE)CORPORATE NOTESDTD 10/05/2018 3.700% 04/15/2024 20030NCR0 120,000.00 A- A3 5/7/2020 5/11/2020 131,456.40 1.20 937.33 123,582.16 118,144.44 AMAZON.COM INC CORPORATE
NOTESDTD 05/12/2021 0.450% 05/12/2024
023135BW5 95,000.00 AA A1 5/10/2021 5/12/2021 94,861.30 0.50 58.19 94,937.10 89,621.20 BURLINGTN NORTH SANTA FE CORPNOTES (CALDTD 08/18/2014 3.400% 09/01/2024 12189LAT8 125,000.00 AA- A3 2/24/2020 2/26/2020 134,100.00 1.72 1,416.67 128,021.64 122,030.38 JOHN DEERE CAPITAL CORPCORPORATE NOTESDTD 09/10/2021 0.625% 09/10/2024 24422EVU0 40,000.00 A A2 9/7/2021 9/10/2021 39,974.00 0.65 77.08 39,985.34 37,298.68 JPMORGAN CHASE & COCORPORATE NOTES (CALDTD 09/16/2020 0.653% 09/16/2024 46647PBS4 25,000.00 A- A1 9/9/2020 9/16/2020 25,000.00 0.65 47.61 25,000.00 24,022.03 BANK OF NY MELLON CORPDTD 10/24/2019 2.100% 10/24/2024
06406RAL1 45,000.00 A A1 1/21/2020 1/28/2020 45,198.00 2.00 175.88 45,075.72 42,969.20 36

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
CITIGROUP INC CORP NOTES(CALLABLE)DTD 10/30/2020 0.776% 10/30/2024 172967MT5 125,000.00 BBB+ A3 10/23/2020 10/30/2020 125,000.00 0.78 164.36 125,000.00 119,358.25 PNC BANK NA CORP NOTES(CALLABLE)DTD 11/01/2019 2.200% 11/01/2024 693475AY1 125,000.00 A- A3 11/5/2019 11/8/2019 124,958.75 2.21 458.33 124,984.81 119,591.63 CATERPILLAR FINL SERVICEDTD 11/08/2019 2.150% 11/08/2024 14913Q3B3 160,000.00 A A2 1/9/2020 1/13/2020 160,355.20 2.10 506.44 160,136.55 152,692.48 TOYOTA MOTOR CREDIT CORPCORPORATE NOTESDTD 01/13/2022 1.450% 01/13/2025 89236TJT3 75,000.00 A+ A1 1/10/2022 1/13/2022 74,899.50 1.50 507.50 74,931.87 70,249.95 NOVARTIS CAPITAL CORPDTD 02/14/2020 1.750% 02/14/2025
66989HAP3 150,000.00 AA- A1 2/18/2020 2/20/2020 150,316.50 1.71 998.96 150,131.55 141,672.75 HOME DEPOT INC (CALLABLE)CORPORATE NOTEDTD 03/28/2022 2.700% 04/15/2025 437076CM2 15,000.00 A A2 3/24/2022 3/28/2022 14,973.75 2.76 85.50 14,980.32 14,351.49 BANK OF NY MELLON CORP(CALLABLE) CORP NDTD 04/26/2022 3.350% 04/25/2025 06406RBC0 150,000.00 A A1 4/19/2022 4/26/2022 149,979.00 3.36 921.25 149,983.79 145,280.40 CHEVRON CORP (CALLABLE) NOTESDTD 05/11/2020 1.554% 05/11/2025 166764BW9 120,000.00 AA- Aa2 5/13/2020 5/15/2020 120,595.20 1.45 259.00 120,276.01 111,805.08 GENERAL DYNAMICS CORP(CALLABLE) CORP NODTD 05/11/2018 3.500% 05/15/2025 369550BG2 125,000.00 A- A3 3/4/2021 3/8/2021 138,015.00 0.96 559.03 132,128.11 121,615.25 JPMORGAN CHASE & CO (CALLABLE)CORP NOTEDTD 06/01/2021 0.824% 06/01/2025 46647PCH7 95,000.00 A- A1 5/24/2021 6/1/2021 95,000.00 0.82 65.23 95,000.00 88,595.96 NATIONAL RURAL UTIL COOPCORPORATE NOTESDTD 05/04/2022 3.450% 06/15/2025 63743HFE7 35,000.00 A- A2 4/27/2022 5/4/2022 34,990.55 3.46 53.67 34,992.56 33,683.37 BANK OF AMERICA CORP NOTESDTD 07/30/2015 3.875% 08/01/2025 06051GFS3 100,000.00 A- A2 8/28/2020 9/1/2020 114,224.00 0.91 1,614.58 107,472.55 97,364.30 MORGAN STANLEY CORP NOTES(CALLABLE)DTD 10/19/2021 1.164% 10/21/2025 61747YEG6 75,000.00 A- A1 10/14/2021 10/19/2021 75,000.00 1.16 169.75 75,000.00 69,013.43 37

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
CITIGROUP INC CORP NOTES(CALLABLE)DTD 01/25/2022 2.014% 01/25/2026 17327CAN3 25,000.00 BBB+ A3 1/18/2022 1/25/2022 25,000.00 2.01 218.18 25,000.00 23,186.68 GOLDMAN SACHS GROUP INC CORPNOTES (CALLDTD 02/12/2021 0.855% 02/12/2026 38141GXS8 125,000.00 BBB+ A2 2/12/2021 2/17/2021 125,255.00 0.81 412.66 125,135.38 113,078.25

ASTRAZENECA FINANCE LLC
(CALLABLE) CORPDTD 05/28/2021 1.200% 05/28/2026
04636NAA1 125,000.00 A A3 7/15/2021 7/19/2021 125,132.50 1.18 137.50 125,092.16 111,384.00 TOYOTA MOTOR CREDIT CORPCORPORATE NOTESDTD 06/18/2021 1.125% 06/18/2026 89236TJK2 75,000.00 A+ A1 9/8/2021 9/13/2021 74,833.50 1.17 30.47 74,878.98 66,383.03

AMERICAN HONDA FINANCE
CORPORATE NOTESDTD 09/09/2021 1.300% 09/09/2026
02665WDZ1 200,000.00 A- A3 11/29/2021 12/1/2021 197,044.00 1.62 808.89 197,715.59 176,947.60 CATERPILLAR FINL SERVICECORPORATE NOTESDTD 09/14/2021 1.150% 09/14/2026 14913R2Q9 200,000.00 A A2 11/29/2021 12/1/2021 196,978.00 1.48 683.61 197,662.62 176,840.00

AMERICAN EXPRESS CO (CALLABLE)
CORPORATEDTD 11/04/2021 1.650% 11/04/2026
025816CM9 200,000.00 BBB+ A2 11/29/2021 12/1/2021 199,538.00 1.70 522.50 199,639.70 176,905.00 JOHN DEERE CAPITAL CORPCORPORATE NOTESDTD 01/10/2022 1.700% 01/11/2027 24422EWA3 125,000.00 A A2 1/11/2022 1/13/2022 124,295.00 1.82 1,003.47 124,431.44 111,739.63 TARGET CORP CORP NOTES(CALLABLE)DTD 01/24/2022 1.950% 01/15/2027 87612EBM7 30,000.00 A A2 1/19/2022 1/24/2022 29,949.00 1.99 269.75 29,958.60 27,211.59 TARGET CORP CORP NOTES(CALLABLE)DTD 01/24/2022 1.950% 01/15/2027 87612EBM7 100,000.00 A A2 1/21/2022 1/25/2022 100,219.00 1.90 899.17 100,177.16 90,705.30 GOLDMAN SACHS GROUP INC CORPNOTE (CALLADTD 01/26/2017 3.850% 01/26/2027 38141GWB6 175,000.00 BBB+ A2 7/1/2022 7/6/2022 169,972.25 4.56 2,900.87 170,512.77 166,731.60 BANK OF NY MELLON CORP(CALLABLE) CORPORDTD 01/26/2022 2.050% 01/26/2027 06406RBA4 100,000.00 A A1 1/26/2022 1/28/2022 100,121.00 2.02 882.64 100,098.19 89,776.70 38

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
IBM CORP CORP NOTES (CALLABLE)DTD 02/09/2022 2.200% 02/09/2027 459200KM2 160,000.00 A- A3 2/23/2022 2/25/2022 158,025.60 2.47 1,388.44 158,363.76 143,916.48 HONEYWELL INTERNATIONAL(CALLABLE) CORPDTD 08/16/2021 1.100% 03/01/2027 438516CE4 100,000.00 A A2 3/1/2022 3/3/2022 95,328.00 2.09 366.67 96,106.67 87,120.80 TRUIST FINANCIAL CORP NOTES(CALLABLE)DTD 03/02/2021 1.267% 03/02/2027 89788MAD4 160,000.00 A- A3 3/10/2022 3/14/2022 150,336.00 2.57 670.10 151,896.94 142,118.56 NORTHERN TRUST CORP NOTE(CALLABLE)DTD 05/10/2022 4.000% 05/10/2027 665859AW4 100,000.00 A+ A2 5/10/2022 5/12/2022 100,966.00 3.79 566.67 100,840.00 97,702.00 UNITEDHEALTH GROUP INC CORPNOTES (CALLADTD 05/20/2022 3.700% 05/15/2027 91324PEG3 120,000.00 A+ A3 6/2/2022 6/6/2022 120,979.20 3.52 567.34 120,863.84 116,043.36 UNITEDHEALTH GROUP INC CORPNOTES (CALLADTD 05/20/2022 3.700% 05/15/2027 91324PEG3 30,000.00 A+ A3 5/17/2022 5/20/2022 29,983.80 3.71 141.83 29,985.81 29,010.84 PNC FINANCIAL SERVICES CORPNOTES (CALLADTD 05/19/2017 3.150% 05/19/2027 693475AT2 125,000.00 A- A3 8/4/2022 8/8/2022 122,647.50 3.58 459.38 122,844.33 116,855.13 INTEL CORP NOTES (CALLABLE)DTD 08/05/2022 3.750% 08/05/2027 458140BY5 160,000.00 A+ A1 8/10/2022 8/12/2022 160,193.60 3.72 2,433.33 160,178.22 153,882.88 WALMART INC CORP NOTES(CALLABLE)DTD 09/09/2022 3.950% 09/09/2027 931142EX7 165,000.00 AA Aa2 9/12/2022 9/14/2022 165,267.30 3.91 2,027.67 165,251.02 162,327.66 AMAZON.COM INC CORP NOTE
(CALLABLE)DTD 12/01/2022 4.550% 12/01/2027
023135CP9 150,000.00 AA A1 12/6/2022 12/7/2022 150,585.00 4.46 568.75 150,576.83 149,592.45 Security Type Sub-Total 4,765,000.00 4,796,679.85 2.15 27,646.40 4,765,948.58 4,458,943.14 39

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Agency CMBS
FHMS K724 A2DTD 01/01/2017 3.062% 11/01/2023
3137BTU25 78,739.83 AA+ Aaa 1/28/2021 2/2/2021 84,057.84 0.58 200.92 80,353.28 77,751.37 FANNIEMAE-ACESDTD 04/01/2014 3.346% 03/01/2024
3136AJB54 56,562.18 AA+ Aaa 12/13/2019 12/18/2019 59,310.74 2.14 157.71 57,323.18 55,814.80 FHLMC MULTIFAMILY STRUCTUREDPOOLDTD 11/01/2017 3.064% 08/01/2024 3137FBTA4 194,921.19 AA+ Aaa 5/25/2022 5/31/2022 195,180.07 3.00 497.70 195,109.88 190,344.86 FHMS K043 A2DTD 03/01/2015 3.062% 12/01/2024
3137BGK24 120,000.00 AA+ Aaa 3/19/2020 3/25/2020 125,943.75 1.95 306.20 122,430.27 116,254.94 FHMS K046 A2DTD 06/17/2015 3.205% 03/01/2025
3137BJP64 150,000.00 AA+ Aaa 8/3/2022 8/8/2022 148,880.86 3.51 400.63 148,880.86 145,034.70 Security Type Sub-Total 600,223.20 613,373.26 2.52 1,563.16 604,097.47 585,200.67 Managed Account Sub Total 21,775,223.20 21,752,671.88 90,123.29 20,340,087.47Securities Sub TotalAccrued Interest $21,803,409.53 $21,780,858.21 $90,123.29 $20,368,273.80 $90,123.29
21,660,439.11
$21,688,625.44

1.57 1.57%
Total Investments $20,458,397.09
40

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY10/4/2022 10/6/2022 265,000.00 91282CFE6 US TREASURY N/B NOTES 3.12% 8/15/2025 259,400.26 4.08%11/1/2022 11/4/2022 500,000.00 9128282R0 US TREASURY NOTES 2.25% 8/15/2027 459,663.72 4.25%12/5/2022 12/7/2022 360,000.00 9128282R0 US TREASURY NOTES 2.25% 8/15/2027 339,235.80 3.77%12/6/2022 12/7/2022 150,000.00 023135CP9 AMAZON.COM INC CORP NOTE (CALLABLE) 4.55% 12/1/2027 150,698.75 4.46% Total BUY 1,275,000.00 1,208,998.53 0.00
INTEREST10/1/2022 10/25/2022 79,066.94 3137BTU25 FHMS K724 A2 3.06% 11/1/2023 201.7510/1/2022 10/25/2022 195,761.61 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 499.8410/1/2022 10/25/2022 2,094.36 3137FKK39 FHMS KP05 A 3.20% 7/1/2023 5.5910/1/2022 10/25/2022 13,927.95 3136ACGJ4 FANNIEMAE-ACES 2.47% 11/1/2022 28.7510/1/2022 10/25/2022 577.12 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 1.0110/1/2022 10/25/2022 24,643.92 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 46.8210/1/2022 10/25/2022 67,955.89 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 190.2410/1/2022 10/25/2022 93,411.24 3137B1BS0 FHLMC MULTIFAMILY STRUCTURED P 2.51% 11/1/2022 195.3910/1/2022 10/25/2022 120,000.00 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 306.2010/1/2022 10/25/2022 150,000.00 3137BJP64 FHMS K046 A2 3.20% 3/1/2025 400.6210/14/2022 10/14/2022 135,000.00 3130AJHU6 FEDERAL HOME LOAN BANK NOTES 0.50% 4/14/2025 337.50 41

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST10/15/2022 10/15/2022 15,000.00 437076CM2 HOME DEPOT INC (CALLABLE) CORPORATE NOTE 2.70% 4/15/2025 221.6310/15/2022 10/15/2022 120,000.00 20030NCR0 COMCAST CORP (CALLABLE) CORPORATE NOTES 3.70% 4/15/2024 2,220.0010/21/2022 10/21/2022 75,000.00 61747YEG6 MORGAN STANLEY CORP NOTES (CALLABLE) 1.16% 10/21/2025 436.5010/24/2022 10/24/2022 45,000.00 06406RAL1 BANK OF NY MELLON CORP 2.10% 10/24/2024 472.5010/25/2022 10/25/2022 150,000.00 06406RBC0 BANK OF NY MELLON CORP (CALLABLE) CORP N 3.35% 4/25/2025 2,498.5410/30/2022 10/30/2022 125,000.00 172967MT5 CITIGROUP INC CORP NOTES (CALLABLE) 0.77% 10/30/2024 485.0010/31/2022 10/31/2022 200,000.00 9128283D0 US TREASURY NOTES 2.25% 10/31/2024 2,250.0010/31/2022 10/31/2022 785,000.00 91282CAT8 US TREASURY NOTES 0.25% 10/31/2025 981.2510/31/2022 10/31/2022 200,000.00 912828YQ7 US TREASURY NOTES 1.62% 10/31/2026 1,625.0010/31/2022 10/31/2022 400,000.00 912828X70 US TREASURY NOTES 2.00% 4/30/2024 4,000.0011/1/2022 11/25/2022 2,088.27 3137FKK39 FHMS KP05 A 3.20% 7/1/2023 5.5711/1/2022 11/25/2022 78,956.20 3137BTU25 FHMS K724 A2 3.06% 11/1/2023 201.4711/1/2022 11/25/2022 120,000.00 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 306.2011/1/2022 11/25/2022 14,809.77 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 28.1411/1/2022 11/25/2022 532.26 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 0.9311/1/2022 11/25/2022 195,476.07 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 499.1211/1/2022 11/25/2022 66,922.32 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 187.44 42

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST11/1/2022 11/25/2022 150,000.00 3137BJP64 FHMS K046 A2 3.20% 3/1/2025 400.6211/1/2022 11/1/2022 125,000.00 693475AY1 PNC BANK NA CORP NOTES (CALLABLE) 2.20% 11/1/2024 1,375.0011/1/2022 11/1/2022 20,000.00 605581MZ7 MS ST TXBL GO BONDS 0.56% 11/1/2024 56.5011/1/2022 11/1/2022 100,000.00 797412DL4 SAN DEIGO CNTY WTR AUTH, CA TXBL REV BON 0.59% 5/1/2024 296.5011/4/2022 11/4/2022 200,000.00 025816CM9 AMERICAN EXPRESS CO (CALLABLE) CORPORATE 1.65% 11/4/2026 1,650.0011/7/2022 11/7/2022 450,000.00 3135G06G3 FANNIE MAE NOTES 0.50% 11/7/2025 1,125.0011/8/2022 11/8/2022 160,000.00 14913Q3B3 CATERPILLAR FINL SERVICE 2.15% 11/8/2024 1,720.0011/10/2022 11/10/2022 100,000.00 665859AW4 NORTHERN TRUST CORP NOTE (CALLABLE) 4.00% 5/10/2027 2,000.0011/11/2022 11/11/2022 120,000.00 166764BW9 CHEVRON CORP (CALLABLE) NOTES 1.55% 5/11/2025 932.4011/12/2022 11/12/2022 95,000.00 023135BW5 AMAZON.COM INC CORPORATE NOTES 0.45% 5/12/2024 213.7511/15/2022 11/15/2022 125,000.00 369550BG2 GENERAL DYNAMICS CORP (CALLABLE) CORP NO 3.50% 5/15/2025 2,187.5011/15/2022 11/15/2022 200,000.00 91282CEQ0 US TREASURY N/B NOTES 2.75% 5/15/2025 2,750.0011/15/2022 11/15/2022 150,000.00 91324PEG3 UNITEDHEALTH GROUP INC CORP NOTES (CALLA 3.70% 5/15/2027 2,697.9211/19/2022 11/19/2022 125,000.00 693475AT2 PNC FINANCIAL SERVICES CORP NOTES (CALLA 3.15% 5/19/2027 1,968.7511/24/2022 11/24/2022 115,000.00 459058JM6 INTL BK RECON & DEVELOP NOTES 0.25% 11/24/2023 143.7511/28/2022 11/28/2022 125,000.00 04636NAA1 ASTRAZENECA FINANCE LLC (CALLABLE) CORP 1.20% 5/28/2026 750.0011/30/2022 11/30/2022 1,070,000.00 91282CCF6 US TREASURY N/B NOTES 0.75% 5/31/2026 4,012.50 43

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST11/30/2022 11/30/2022 300,000.00 91282CDM0 US TREASURY N/B NOTES 0.50% 11/30/2023 750.0011/30/2022 11/30/2022 125,000.00 002824BE9 ABBOTT LABORATORIES CORP NOTES 3.40% 11/30/2023 2,125.0011/30/2022 11/30/2022 150,000.00 91282CDK4 US TREASURY N/B NOTES 1.25% 11/30/2026 937.5012/1/2022 12/1/2022 95,000.00 46647PCH7 JPMORGAN CHASE & CO (CALLABLE) CORP NOTE 0.82% 6/1/2025 391.4012/1/2022 12/25/2022 120,000.00 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 306.2012/1/2022 12/25/2022 150,000.00 3137BJP64 FHMS K046 A2 3.20% 3/1/2025 400.6212/1/2022 12/25/2022 78,851.25 3137BTU25 FHMS K724 A2 3.06% 11/1/2023 201.2012/1/2022 12/25/2022 56,686.46 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 158.0512/1/2022 12/25/2022 195,208.57 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 498.4312/1/2022 12/25/2022 2,082.51 3137FKK39 FHMS KP05 A 3.20% 7/1/2023 5.5612/15/2022 12/15/2022 35,000.00 63743HFE7 NATIONAL RURAL UTIL COOP CORPORATE NOTES 3.45% 6/15/2025 741.2712/18/2022 12/18/2022 75,000.00 89236TJK2 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES 1.12% 6/18/2026 421.8812/31/2022 12/31/2022 350,000.00 91282CCJ8 US TREASURY N/B NOTES 0.87% 6/30/2026 1,531.2512/31/2022 12/31/2022 400,000.00 91282CEX5 US TREASURY N/B NOTES 3.00% 6/30/2024 6,000.0012/31/2022 12/31/2022 545,000.00 91282CBC4 US TREASURY NOTES 0.37% 12/31/2025 1,021.8812/31/2022 12/31/2022 185,000.00 912828V23 US TREASURY NOTES 2.25% 12/31/2023 2,081.2512/31/2022 12/31/2022 175,000.00 91282CDR9 US TREASURY N/B NOTES 0.75% 12/31/2023 656.25 44

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST12/31/2022 12/31/2022 245,000.00 91282CDQ1 US TREASURY N/B NOTES 1.25% 12/31/2026 1,531.25 Total INTEREST 10,189,052.71 62,672.18 0.00
MATURITY11/1/2022 11/1/2022 1,927.14 3136ACGJ4 FANNIEMAE-ACES 2.47% 11/1/2022 1,931.1611/1/2022 11/1/2022 18,194.99 3137B1BS0 FHLMC MULTIFAMILY STRUCTURED P 2.51% 11/1/2022 18,233.06 0.0112/1/2022 12/1/2022 4,501.10 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 4,509.6512/1/2022 12/1/2022 3,478.12 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 3,484.73 Total MATURITY 28,101.35 28,158.60 0.01
PAYDOWNS10/1/2022 10/25/2022 110.74 3137BTU25 FHMS K724 A2 3.06% 11/1/2023 110.7410/1/2022 10/25/2022 44.86 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 44.8610/1/2022 10/25/2022 75,216.25 3137B1BS0 FHLMC MULTIFAMILY STRUCTURED P 2.51% 11/1/2022 75,216.2510/1/2022 10/25/2022 6.09 3137FKK39 FHMS KP05 A 3.20% 7/1/2023 6.0910/1/2022 10/25/2022 5,547.47 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 5,547.4710/1/2022 10/25/2022 1,033.57 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,033.5710/1/2022 10/25/2022 285.54 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 285.5410/1/2022 10/25/2022 4,286.68 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 4,286.68 45

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS10/1/2022 10/25/2022 12,000.81 3136ACGJ4 FANNIEMAE-ACES 2.47% 11/1/2022 12,000.8111/1/2022 11/25/2022 3,853.13 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 3,853.1311/1/2022 11/25/2022 104.95 3137BTU25 FHMS K724 A2 3.06% 11/1/2023 104.9511/1/2022 11/25/2022 5.76 3137FKK39 FHMS KP05 A 3.20% 7/1/2023 5.7611/1/2022 11/25/2022 267.50 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 267.5011/1/2022 11/25/2022 2,977.42 3136AEGQ4 FNA 2013-M7 A2 2.28% 12/1/2022 2,977.4211/1/2022 11/25/2022 532.26 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 532.2611/1/2022 11/25/2022 10,235.86 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 10,235.8612/1/2022 12/25/2022 124.28 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 124.2812/1/2022 12/25/2022 287.38 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 287.3812/1/2022 12/25/2022 2,082.51 3137FKK39 FHMS KP05 A 3.20% 7/1/2023 2,082.5112/1/2022 12/25/2022 111.42 3137BTU25 FHMS K724 A2 3.06% 11/1/2023 111.42 Total PAYDOWNS 119,114.48 119,114.48 0.00
SELL10/4/2022 10/6/2022 220,000.00 9128284X5 US TREASURY NOTES 2.75% 8/31/2023 217,894.63 -6,474.6011/1/2022 11/4/2022 80,000.00 91282CCU3 US TREASURY N/B NOTES 0.12% 8/31/2023 77,046.08 -2,919.0111/1/2022 11/4/2022 420,000.00 91282CCU3 US TREASURY N/B NOTES 0.12% 8/31/2023 404,491.92 -15,288.32 46

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
SELL12/5/2022 12/7/2022 135,000.00 3137EAEW5 FREDDIE MAC NOTES 0.25% 9/8/2023 130,469.14 -4,603.1512/6/2022 12/7/2022 115,000.00 459058JM6 INTL BK RECON & DEVELOP NOTES 0.25% 11/24/2023 110,033.18 -4,897.7212/7/2022 12/7/2022 30,000.00 91282CCU3 US TREASURY N/B NOTES 0.12% 8/31/2023 29,046.87 -943.32 Total SELL 1,000,000.00 968,981.82 -35,126.12
47

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Appendix
|
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.Investment advisory services are provided by PFM Asset Management LLC ("PFMAM"), an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. ("USBAM"). USBAM is a subsidiary of U.S. Bank National Association ("U.S. Bank"). U.S. Bankis a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sourcesexternal to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to particular issuers arefor illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion ofthe strategy rated by a NRSRO.It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.

Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any salescharges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to belower than the performance shown.The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast,projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion asof the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as actualevents occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and datapresented are not necessarily indicative of future events or expected performance.For more information regarding PFMAM's services or entities, please visit www.pfmam.com.© 2022 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 48

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Appendix
|
Important Disclosures
This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buyor sell any fund or other security. Investors should consider the Trust's investment objectives, risks, charges, and expenses before investing in the Trust. This and otherinformation about the Trust is available in the Trust's current Information Sheet, which should be read carefully before investing. A copy of the Trust's information Statement may be available by calling 1-800-729-7665 or is available on the Trust's website at www.camponline.com. While the Trust seeks to maintain a stable net asset value of $1.00 per share, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal DepositInsurance Corporation or any other government agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.

Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Refinitiv, Bloomberg, or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimatedmarket value.

In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded.

Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is showngross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns.

Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets.Money market fund/cash balances are included in performance and duration computations.Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.MBS maturities are represented by expected average life. 49

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Appendix
|
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.Agencies: Federal agency securities and/or Government-sponsored enterprises.Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.

Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans, leases, credit card balances, and receivables.

Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector addedor subtracted from the overall portfolio performance.Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compoundingon investment returns, while nominal yield does not.FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.Interest Rate: Interest per year divided by principal amount and expressed as a percentage.Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.Maturity: The date upon which the principal or stated value of an investment becomes due and payable.Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.Par Value: The nominal dollar face amount of a security.Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is themortgage-backed security. 50

© PFM Asset Management LLC pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2022
Appendix
|
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments andmaturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whosedecisions are binding on its members.Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.U.S. Treasury: The department of the U.S. government that issues Treasury securities.Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.

YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time periodfrom purchase date to maturity, stated as a percentage on an annualized basis.YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the timeperiod remaining until maturity, stated as a percentage on an annualized basis. 51

TOWN OF LOS ALTOS HILLS February 16, 2023
Staff Report to the City Council
SUBJECT: RESOLUTION ADOPTING THE REVISED INVESTMENT POLICY FROM: Sarina Revillar, Administrative Services Director APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council:

Approve resolution adopting the revised investment policy.

DISCUSSION:

The investment policy guides the Town’s staff and its advisors for all investment activities. State law requires that local government Treasurers render to their legislative body for consideration at a public meeting a statement of investment policy. The Town’s investment policy, including the listing of eligible securities and maturities, was last approved by the City Council on October 15, 2020.

To comply with California Government Code 53646, the Town will report a Quarterly Investment Report to include all the Town’s investments. Providing this information will provide transparency to the public on the Town’s securities according to the Investment Policy.

On February 6, 2023, the Finance and Investment Committee reviewed, discussed, and recommended acceptance of changes. Attachment 2 contains the entire Investment Policy with markups.

ENVIRONMENTAL REVIEW:

This action does not qualify as a “Project” as defined in California Government Code Section 15378(b) of the Guidelines for California Environmental Quality Act.” 2022 CITY COUNCIL STRATEGIC PRIORITIES:

The policy is not on the City Council’s priorities in 2022.

FISCAL IMPACT:

This is for reporting purposes. There is no fiscal impact.

ATTACHMENTS

1. Resolution

2. Investment Policy with Redlines
AGENDA ITEM #4.H
S.R.

P.P.

RESOLUTION No. xx-23

RESOLUTION OF THE CITY COUNCIL OF THE TOWN OF LOS ALTOS

HILLS ADOPTING THE REVISED INVESTMENT POLICY
WHEREAS, on October 15, 2020 the City Council reviewed and adopted the Revised Town of Los Altos Hills Investment Policy; and
WHEREAS, investment policies guide staff and their advisors for all investment activities on behalf of local government agencies; and
WHEREAS, those investment activities are primarily governed by the individual entity’s adopted investment policy and by California state law (Government Code sections 53600- 53610); and
WHEREAS, the Investment Policy for the Town of Los Altos Hills is consistent with state law and, for the purpose of added safety and liquidity, is more restrictive than the state law; and
WHEREAS, the Finance and Investment Committee (FIC) has reviewed changes to the Investment Policy (Attachment A) and voted in favor of sending the amended policy to Council for its review and approval; and
NOW THEREFORE, resolved by the City Council of the Town of Los Altos Hills that the Council hereby adopts the Town’s Revised Investment Policy as presented.

The above and foregoing Resolution was passed and adopted by the City Council of the Town of Los Altos Hills at a regular meeting held on the 16th day of February 2023 by the following vote:

AYES:

NOES:

ABSTAIN:

ABSENT:

BY: _______________________________
Linda Swan, Mayor
ATTEST:
______________________________
Deborah Padovan, City Clerk
Attachment 1

Updated 11/14/22 Town of Los Altos Hills
2022-23 Investment Policy

TOWN OF LOS ALTOS HILLS
2022-2023 INVESTMENT POLICY

1.0 Philosophy
It is the policy of the Town of Los Altos Hills to invest public funds in a manner that will provide a reasonable rate of investment return while minimizing exposure to loss of capital and thereby maintaining a consistent source of revenues for the Town. This policy establishes the parameters for the Town’s investment strategies.

2.0 Delegation of Authority
Authority to manage the Town of Los Altos Hills’ investment program is derived from the California Government Code Section 53600 et seq. The City Council shall approve all modifications to the investment strategy and the selection or dismissal of an investment advisor. Administration of the Council-approved investment strategy is hereby delegated to the City Manager, who shall be responsible for supervising all treasury activities of the Town’s Finance Director and who shall establish written procedures for the operation of the investment program consistent with this investment policy. Procedures should include reference to: safekeeping, delivery vs. payment, investment accounting, wire transfer agreements, banking service contracts and collateral/depository agreements. Such procedures shall include explicit delegations of authority to persons responsible for investment transactions. No person may engage in any investment transactions except as provided under the terms of this policy and the procedures established by the City Manager or her/his designee. The City Manager or her/his designee shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinate officials.

3.0 Scope
This investment policy applies to all financial assets of the Town of Los Altos Hills. These funds are accounted for in the Town of Los Altos Hills’ Comprehensive Annual Financial Report and include:

3.1 Funds
General Fund Enterprise Funds
Special Revenue Funds Capital Projects Funds
Trust and Agency Funds
Any new fund, unless specifically exempted
Attachment 2

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2 2022-23 Investment Policy

3.2 The following financial assets are excluded:

Deferred Compensation Plans – Investments are directed by the individual plan participants.

Debt Service Funds Held by Trustees – Investments are placed in accordance with bond indenture provisions.

Notes and Loans – Investments are authorized by separate agreements approved by City Council.

Retiree and Retiree Medical Plans
Except as noted, the Town of Los Altos Hills will consolidate cash balances from all funds to maximize investment earnings. Investment income will be allocated to the various funds based on their respective participation and in accordance with generally accepted accounting principles.

4.0 Prudence
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 investments, considering the probable safety of their capital as well as the probable income to be derived.

4.1 Standard of prudence: The standard of prudence to be used by investment officials shall be the “prudent investor” standard and shall be applied in the context of managing an overall portfolio. When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the agency.

5.0 Objective
The primary objectives, in priority order, of the Town of Los Altos Hills’ investment activities shall be:

5.1 Safety: Safety of principal is the foremost objective of the investment program. Investments of the Town of Los Altos Hills shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. The objective is to minimize (1) credit risk, through diversifying the portfolio among the authorized investment types with pre-qualifying financial institutions and broker dealers, and (2) interest rate risk, by

Updated 11/14/22 Town of Los Altos Hills
3 2022-23 Investment Policy
structuring portfolio maturities to match cash requirements and investing operating funds in shorter-term securities.

5.2 Liquidity: The Town of Los Altos Hills’ investment portfolio will remain sufficiently liquid to enable the Town of Los Altos Hills to meet all operating requirements which might be reasonably anticipated. In addition to structuring the portfolio so that securities mature concurrent with cash needs, suitable investments (Section 6.0) consist largely of securities with active secondary or resale markets.

5.3 Return on Investments: The Town of Los Altos Hills’ investment portfolio shall be designed with the objective of attaining a market rate of return throughout budgetary and economic cycles, commensurate with the Town of Los Altos Hills’ investment risk constraints and the cash flow characteristics of the portfolio.

6.0 Authorized and Suitable Investments
Where this section specifies a percentage limitation for a particular security type, that percentage is applicable only on the date of purchase. Credit criteria listed in this section refers to the credit rating at the time the security is purchased. Where credit requirements in this section refer to a minimum credit rating, this minimum is regardless of any category modifiers such as “+” or “-”. If an investment’s credit rating falls below the minimum rating required at the time of purchase, the City Manager will perform a timely review and decide whether to sell or hold the investment.

The Town of Los Altos Hills is empowered by Government Code Section 53601, and further limited by this investment policy, to invest in the following types of securities:

1. United States Treasury notes, bonds, bills, or certificates of indebtedness, or those for which the faith and credit of the United States are pledged for the payment of principal and interest.

2. Federal agency or United States government-sponsored enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or United States governmentsponsored enterprises.

3. Obligations of the State of California or any local agency within the state, including bonds payable solely out of revenues from a revenue-producing property owned, controlled or operated by the state or any local agency or by a department, Commission, agency or authority of the state or any local agency; provided that the obligations are rated in one of the three highest categories by a nationally recognized statistical rating organization (NRSRO). Purchases of municipal obligations in sections 3 and 4 combined may not exceed 30 percent of the Town's investment portfolio.

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4 2022-23 Investment Policy

4. Registered treasury notes or bonds of any of the other 49 states in addition to California, including bonds payable solely out of the revenues from a revenueproducing property owned, controlled, or operated by a state, or by a department, board, agency, or authority of any of these states; provided that the obligations are rated in one of the three highest categories by a NRSRO. Purchases of municipal obligations in sections 3 and 4 combined may not exceed 30 percent of the Town's investment portfolio.

5. Bankers’ Acceptances with a rating of the highest ranking or highest letter and number rating as provided for by a NRSRO. Purchases of bankers’ acceptances may not exceed 180 days. No more than 40% of the Town’s investment portfolio may be invested in bankers’ acceptances and no more than 30% of the Town’s investment portfolio may be invested in the bankers’ acceptances of any one commercial bank.

6. Commercial paper of “prime” quality of the highest ranking or of the highest letter and number rating as provided for by a nationally recognized statistical rating organization (NRSRO). The entity that issues the commercial paper shall meet all of the following conditions in either paragraph (1) or (2):
(1) The entity meets the following criteria:
(A) Is organized and operating in the United States as a general corporation.
(B) Has total assets in excess of five hundred million dollars ($500,000,000).
(C) Has debt other than commercial paper, if any, that is rated in a rating category of “A” or its equivalent or higher by an NRSRO. (2) The entity meets the following criteria:
(A) Is organized within the United States as a special purpose corporation, trust, or limited liability company.
(B) Has program-wide credit enhancements including, but not limited to, overcollateralization, letters of credit, or a surety bond. (C) Has commercial paper that is rated “A-1” or higher, or the equivalent, by an NRSRO.

Eligible commercial paper shall have a maximum maturity of 270 days or less. Local agencies, other than counties or a city and county, may invest no more than 25% of their moneys in eligible commercial paper. The Town may purchase no more than 10% of the outstanding commercial paper of any single issuer.

7. FDIC insured or fully collateralized time certificates of deposit in financial institutions located in California, including U.S. branches of foreign banks licensed to do business in California. All time deposits must be collateralized Commented [WLE1]: Senate Bill 998, effective January 1, 2021-January 1, 2026

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5 2022-23 Investment Policy
in accordance with California Government Code section 53651. Purchase of FDIC insured or fully collateralized time certificates of deposit may not exceed 50% of the Town's investment portfolio.

8. Negotiable Certificates of Deposit (CD) issued by a nationally or statechartered bank, a savings association or a federal association (as defined by Section 5102 of the Financial Code), a state or federal credit union, or by a federally- or state-licensed branch of a foreign bank. No more than 30% of the Town’s portfolio may be invested in negotiable CDs and eligible CDs must be rated in one of the three highest categories by a NRSRO.

9. Local Agency Investment Fund (LAIF). Investments in LAIF shall not exceed $75 million.

10. Insured savings account or bank money market account. In accordance with California Government Code Section 53635.2 to be eligible to receive local agency deposits a financial institution must have received a minimum overall “satisfactory” rating for meeting the credit needs of California communities in its most recent evaluation.

11. Shares of beneficial interest issued by diversified management companies that are money market funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a1, et seq.). To be eligible for investment pursuant to this subdivision these companies shall either: (1) attain the highest ranking letter or numerical rating provided by not less than two of the three largest nationally recognized rating services or (2) have an investment advisor registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience managing money market mutual funds and with assets under management in excess of $500,000,000. The purchase price of shares shall not exceed 20% of the investment portfolio.

12. California Asset Management Program. (CAMP).

13. Medium-term notes, defined as all corporate and depository institution debt securities with a maximum remaining maturity of five years or less, issued by corporations organized and operating within the United States or by depository institutions licensed by the United States or any state and operating within the United States. Notes eligible for investment under this subdivision shall be rated in a rating category of "A" or its equivalent or better by a nationally recognized rating serviceNRSRO. Purchases of medium-term notes shall not include other instruments authorized by this section and may not exceed 30% of the agency's money that may be invested pursuant to this section.

14. United States dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by the International Bank for

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6 2022-23 Investment Policy
Reconstruction and Development, International Finance Corporation, or InterAmerican Development Bank, with a maximum remaining maturity of five years or less, and eligible for purchase and sale within the United States. Investments under this subdivision shall be rated in a rating category of “AA” or its equivalent or better by an NRSRO and shall not exceed 30% of the agency’s moneys that may be invested pursuant to this section. (Supranationals).

Summary Table of Permitted Investments
Investment Instruments
Calif. Code Limitation
(Maturity, % of
Portfolio, Rating)
Town Policy Limitation
(Maturity, % of
Portfolio, Rating)
U.S. Treasury 5 years
100% of portfolio
5 years
100% of portfolio
Federal Agency
(including mortgagebacked securities and
callable securities)
5 years
100% of portfolio
5 years
100% of portfolio
Municipal Obligations
(including notes issued by
the State of California,
California local agencies,
and the other 49 states)
5 years
100% of portfolio
5 years
30% of portfolio
Credit rating category of
“A” or its equivalent or
higher by a NRSRO
Bankers’ Acceptances
180 days
40% of portfolio
30% per issuer
180 days
40% of portfolio
530% per issuer
Commercial Paper
270 days
25% of portfolio
10% per issuer
Long term credit rating
category of “A” and short
term rating of “A-1” or
its equivalent or higher
by a NRSRO
270 days
25% of portfolio
5% per issuer
Long term credit rating
category of “A” and short
term rating of “A-1” or its
equivalent or higher by a
NRSRO

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7 2022-23 Investment Policy
Summary Table of Permitted Investments
Investment Instruments
Calif. Code Limitation
(Maturity, % of
Portfolio, Rating)
Town Policy Limitation
(Maturity, % of
Portfolio, Rating)
Deposits
(Collateralized/FDIC) 50%1
of portfolio 5 years
50% of portfolio
Negotiable CDs 5 years
30% of portfolio
5 years
30% of portfolio
5% per issuer
Credit rating category of
“A” or its equivalent or
higher by a NRSRO
LAIF $75 million $75 million
Money Market Funds
20% of portfolio
20% per fund
AAAm
20% of portfolio
20% per fund
JPA
(CAMP) 100% of portfolio 100% of portfolio
Medium-Term Notes
5 years
30% of portfolio
10% per issuer
Credit rating category of
“A” or its equivalent or
higher by a NRSRO
5 years
30% of portfolio
5% per issuer
Credit rating category of
“A” or its equivalent or
higher by a NRSRO
Supranationals
5 years
30% of portfolio
Credit rating category of
“AA” or its equivalent
or higher by a NRSRO
5 years
30% of portfolio
Credit rating category of
“AA” or its equivalent or
higher by a NRSRO
1 For deposit placement services.

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8 2022-23 Investment Policy

7.0 Authorized Financial Dealers and Institutions
To provide for the optimum yield in the Town’s portfolio, the Town’s procedures shall be designed to encourage competitive bidding on transactions from an approved list of broker/dealers.

The Town may engage the services of an external investment advisor to assist in the management of the Town’s investment portfolio in a manner consistent with this investment policy. If the Town hires an investment adviser to provide investment management services, the adviser is authorized to transact with its direct dealer relationships on behalf of the Town.

Approved investment adviser firms must provide their services to the Town on a fiduciary capacity and be registered with the Securities and Exchange Commission (SEC) under the Investment Advisor’s Act of 1940. The advisor shall have more than five years’ experience in managing public funds, and shall have at minimum $1 billion under management.

The City Manager, or the Town’s investment advisor, shall maintain a list of authorized broker/dealers and financial institutions that are approved for investment purposes. This list will be developed after a comprehensive credit and capitalization analysis indicates the firm is adequately financed to conduct business with public entities. It shall be the policy of the Town to purchase securities only from those authorized institutions or firms.

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8.0 Safekeeping and Custody
All security transactions entered into by the Town of Los Altos Hills shall be conducted on a delivery-versus-payment (DVP) basis. Securities will be held by a third- party custodian, in the Town of Los Altos Hills’ name and control, designated by the City Manager or her/his designee and evidenced by safekeeping receipts.

9.0 Collateralization
Collateralization will be required on certificates of deposit as specified under Government Code Section 63630 et seq in order to anticipate market changes and provide a level of security for all funds. All time deposits must be collateralized in accordance with California Government Code section 53651.

The Town of Los Altos Hills chooses to limit collateral to the following:

Collateral will always be held by an independent third party. A clearly marked evidence of ownership (safekeeping receipt) must be supplied to the Town of Los Altos Hills and retained.

The right of collateral substitution is granted.

10.0 Internal Control
The Town of Los Altos Hills is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the Town are protected from loss, theft or misuses. The internal control structure shall be designed to provide reasonable assurance that these objectives are met. The concept of reasonable assurance recognizes that (1) the cost of a control should not exceed the benefits likely to be derived and (2) the valuation of costs and benefits requires estimates and judgments by the City Manager and staff.

The City Manager or designee shall arrange for an annual audit by an external CPA firm in compliance with the requirements of state law and generally accepted accounting principles as pronounced by the Government Accounting Standards Board (GASB). As a part of the audit, investment transactions will be tested. The annual audit will be an integral part, but not the sole part of management’s program of monitoring internal controls.

The internal controls shall address the following points:
• Control of collusion
• Separation of transaction authority from accounting and recordkeeping • Custodial safekeeping
• Avoidance of physical delivery securities
• Clear delegation of authority to subordinate staff members • Written confirmation of transactions for investments and wire transfers

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10 2022-23 Investment Policy
• Development of a wire transfer agreement with the lead bank and third-party custodian

11.0 Ethics and Conflicts 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 which could impair their ability to make impartial investment decisions. These officers and employees involved in the investment process shall disclose to the City Manager any material financial interest in financial institutions that conduct business with this jurisdiction, and they shall further disclose any large personal financial/investment positions that could be related to the performance of the Town of Los Altos Hills, particularly with regard to the time of purchases and sales. Employees and investment officials shall refrain from undertaking personal investment transactions with the same individual with whom business is conducted on behalf of the Town of Los Altos Hills.

12.0 Diversification
The Town of Los Altos Hills will diversify its investments by security type and institution.

Limits are provided for in Section 6.0. With the exception of U.S. Treasury and Federal Agency securities, municipal bonds, supranational bonds, and authorized pools such as CAMP or LAIF, no more than 5% of the Town of Los Altos Hills’ total investment portfolio will be invested in a single issuer.

13.0 Maximum Maturities
To the extent possible, the Town of Los Altos Hills will attempt to match its investments with anticipated cash flow requirements. The Town of Los Altos Hills will not directly invest in securities maturing more than five (5) years from the settlement date of purchase unless City Council has provided approval for a specific purpose at least three (3) months before the investment is made.

Debt reserve funds may be invested in securities exceeding five (5) years if the maturities of such investments are made to coincide as nearly as practicable with the expected use of the funds.

The Town of Los Altos Hills will retain operating reserves as adopted by the City Council.

The amount of active deposits and inactive investments with a maturity of one year or less shall always be equal to greater than any draw on these reserves required by the annual operating budget.

Securities may be sold prior to maturity to accommodate the Town’s cash flow requirements, to reposition the portfolio to perform well in the current market, or to take advantage of market opportunities to increase the Town’s rate of return.

14.0 Performance Standards
The investment portfolio shall be designed with the objective of obtaining a market rate of return throughout budgetary and economic cycles, commensurate with the Town’s investment risk constraints and the cash flow needs.

Commented [WLE2]: Senate Bill 1489, effective January 1, 2023

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11 2022-23 Investment Policy

14.1 Market Yield (Benchmark): Suitability should be the standard for evaluating the success of the Town’s investment portfolio. Given this strategy and the active investment management utilized by the Town, the basis used to determine whether market yields are adequate shall be the ICE BofAML 1-5 year U.S. Treasury Index.

15.0 Reporting
The City Manager is charged with the responsibility of including a market report on investment activity and returns in the Town of Los Altos Hills’ Cash and Investment Report. The Report will be in compliance with California Government Code Section 53646.

16.0 Investment Policy Adoption
The Town of Los Altos Hill’s’ investment policy shall be adopted by the City Council.

The policy shall be reviewed annually by the Finance and Investment Committee and any modifications made thereto must be approved by the City Council.

Commented [WLE3]: The Town may wish to specify a
reporting frequency, as well as the information to be contained within the reports.

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12 2022-23 Investment Policy

GLOSSARY
Bankers’ Acceptances
Short-term credit arrangements that enable businesses to obtain funds to finance commercial transactions. They are time drafts drawn on a bank by an exporter or importer to obtain funds to pay for specific merchandise. By its acceptance, the bank becomes primarily liable for the payment of the draft at maturity. An acceptance is a high-grade negotiable instrument.

Benchmark
A comparative base for measuring the performance or risk tolerance of the investment portfolio. A benchmark should represent a close correlation to the level of risk the average duration of the portfolio’s investments.

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

California Asset Management Program (CAMP)
CAMP is a joint powers authority which provides investment services to local governments through its investment pool. The pool is AAAm-rated by Standard and Poor’s, and provides same-day availability to funds up to 11:00AM Pacific. The pool strives to maintain stable asset value.

Certificates of Deposit

1. Negotiable Certificates of Deposit are large-denomination CDs. They are issued at face value and typically pay interest at maturity, if maturing in less than 12 months. CDs that mature beyond this range pay interest semi-annually.

Negotiable CDs are issued by U.S. banks (domestic CDs), U.S. branches of foreign banks (Yankee CDs), and thrifts. There is an active secondary market for negotiable domestic and Yankee CDs. However, the negotiable thrift CD secondary market is limited. Yields on CDs exceed those on U.S. treasuries and agencies of similar maturities. This higher yield compensates the investor for accepting the risk of reduced liquidity and the risk that the issuing bank might fail. State law does not require the collateralization of negotiable CDs.

2. Non-negotiable Certificates of Deposit are time deposits with financial institutions that earn interest at a specified rate for a specified term. Liquidation of the CD prior to maturity incurs a penalty. There is no secondary market for these instruments; therefore, they are not liquid. They are classified as public deposits, and financial institutions are required to collateralize them. Collateral may be waived for the portion of the deposits that are covered by FDIC insurance.

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

Collateralization
Process by which a borrower pledges securities, property or other deposits for the purpose of securing the repayment of a loan and/or security. Also refers to securities pledged by a bank to secure deposits of public moneys.

Dealer
Someone who acts as a principal in all transactions, including buying and selling from her/his own account.

Delivery v. payment
The preferred method of delivering securities, with an exchange of money for the securities.

Demand deposits
A deposit of monies which are payable by the bank upon demand of the depositor.

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

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

Federal Depository Insurance Corporation (FDIC)
A federal agency that insures bank deposits, currently up to $250,000 per deposit.

Federal Home Loan Bank (FHLB)
A federal agency that provides credit and liquidity in the housing market. FHLB issues discount notes and semi-annual pay coupon securities.

Federal Home Loan Mortgage Corporation (FHLMC)
A federal agency that provides credit and liquidity in the housing market. FHLMC, also called “Freddie Mac,” issues discount notes, semi-annual pay coupon securities and mortgage-backed securities.

Federal National Mortgage Association (FNMA)
A federal agency that provides credit and liquidity in the housing market. FHLMC, also called “Fannie Mae,” issues discount notes, semi-annual pay coupon securities and mortgage-backed securities.

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

Local Agency Investment Fund (LAIF)
The LAIF was established by the State of California to enable treasurers to place funds in a pool for investments. There is a limitation of $50 million per agency subject to a maximum of fifteen total transactions per month. The Town uses this fund when market interest rates are declining as well as for short-term investments and liquidity. Town funds in LAIF are limited to $40 million.

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

Mortgage-Backed Security
Debt obligations that represent claims to the cash flows from pools of mortgage loans, most commonly on residential property.

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

Repurchase Agreement
A form of collateralized loan involving the sale of a security with a simultaneous agreement by the seller to buy the same security back from the purchaser at an agreed-on price and future date. The party who sells the security at the inception of the repurchase agreement and buys it back at maturity is borrowing money from the other party, and the security sold and subsequently repurchased represents the collateral.

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

Supranational Bonds
A bond issued by a supranational agency such as the World Bank.

U.S. Treasury Bills
Commonly referred to as T-Bills, these are short-term marketable securities sold as obligations of the U.S. Government. They are offered in three-month, six-month and one year maturities. T-Bills do not accrue interest but are sold at a discount to pay face value at maturity.

U.S. Treasury Notes
These are marketable, medium-term interest-bearing securities sold as obligations of the U.S. Government with original maturities of one to ten years. Interest is paid semiannually.

Updated 11/14/22 Town of Los Altos Hills
15 2022-23 Investment Policy
U.S. Government Agency Issues
Issues which are unconditionally backed by the full faith and credit of the United States.

Yield
The rate of annual income return on an investment, expressed as a percentage. Income yield is obtained by dividing the current dollar income by the current market price for the security. Net yield or yield to maturity is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity of the bond.

TOWN OF LOS ALTOS HILLS February 16, 2023
Staff Report to the City Council
SUBJECT: RESPONSE TO THE GRAND JURY FINAL REPORT ON

FINANCIAL TRANSPARENCY NEEDED
FROM: Sarina Revillar, Administrative Services Director APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council:

Approve the attached response letter to the 2022 Santa Clara County Civil Grand Jury Final Report, Show Me the Money: Financial Transparency Needed.

BACKGROUND:

The Civil Grand Jury investigated how financial documents are reported to the legislative body to include monthly disbursements, receipts, and fund balances and concluded with the following finding:

Finding 3
o The Town of Los Altos Hills produces monthly treasurer’s reports, but the content of those reports lacks monthly disbursements, receipts, and fund balances required by California Government Code section 41004.

Pursuant to California Penal Code Section 933.05, the Town of Los Altos Hills is required to respond within 90 days to the Presiding Judge of the Superior Court on the findings and recommendations within the final report on the monthly disbursements, receipts, and fund balances.

ENVIRONMENTAL REVIEW:

This action does not qualify as a “Project” as defined in California Government Code Section 15378(b) of the Guidelines for California Environmental Quality Act.” 2022 CITY COUNCIL STRATEGIC PRIORITIES:

The report was not specified as one of the Council’s priorities in 2022.

AGENDA ITEM #4.I
S.R.

P.P.

Staff Report to City Council Page 2
Civil Grand Jury Final Report
February 16, 2023
FISCAL IMPACT:

There is no fiscal impact related to response letter.

ATTACHMENTS:

1. Proposed Response Letter to How Financial Transparency is Needed

2. Letter Received from the Grand Jury dated December 14, 2022

3. California Penal Code Section 933.05 – Responses to findings

4. “Show Me the Money: Transparency Needed” Final Report

February 16, 2023
Via e-mail [email protected] and First Class Mail
Britney Huelbig
Deputy Manager for the Civil Grand Jury
191 North First Street
San Jose, CA 95113
RE: Response to the 2022 Santa Clara County Civil Grand Jury Final Report titled, “Show Me the Money: Financial Transparency Needed”
Dear Deputy Manager Huelbig:

The Town of Los Altos Hills is providing its response to the Santa Clara County Civil Grand Jury Final Report titled, “Show Me the Money: Financial Transparency Needed”.

According to the report, the Town is required to respond to Finding 3 and to Recommendation 3.

Finding 1 – The Civil Grand Jury finds that the Town of Los Altos Hills produces monthly treasurer’s report but the content of those reports lacks monthly disbursements, receipts, and fund balances required by California Government Code 41004 by March 15, 2023.

Response – The Town of Los Altos Hills agrees with this finding.

Recommendation 3 – The Town of Los Altos Hills should update their existing monthly reports to include monthly disbursements, receipts, and fund balances by March 15, 2023.

Response – The recommendation has been implemented to include monthly disbursements, receipts, and fund balances. The report was included in the January 24, 2023 City Council Agenda.

This concludes the Town’s responses to the findings and recommendations in the Final Report.

Attachment 1

Please contact to me at (650) 941-7222 if you have any questions or need any additional information related to this response.

Sincerely,
Peter Pirnejad
City Manager
[email protected]
cc: Los Altos Hills City Council
Sarina Revillar, Administrative Services Director

SUPERIOR COURT BUILDING • 191 NORTH FIRST STREET, SAN JOSE, CALIFORNIA 95113 • (408) 882-2721 • FAX (408) 882-2795

G R A N D J U R Y S A N T A C L A R A C O U N T Y
December 14, 2022
Ms. Deborah Padovan
City Clerk, Town of Los Altos Hills
Town of Los Altos Hills
26379 Fremont Road
Los Altos Hills, California 94022
Sent via email: [email protected]
Dear Ms. Padovan,
The 2022 Santa Clara County Civil Grand Jury is transmitting to you its Final Report, Show Me the Money: Financial Transparency Needed.

California Penal Code § 933(c) requires that a governing body of the particular public agency or department that has been the subject of a Grand Jury final report shall respond within 90 days to the Presiding Judge of the Superior Court on the findings and recommendations pertaining to matters under the control of the governing body. California Penal Code § 933.05 contains guidelines for responses to Grand Jury findings and recommendations and is attached to this transmission.

Please note:

1. As stated in Penal Code § 933.05(a), attached, you are required to "Agree" or "Disagree" with each applicable Finding: 3. If you disagree, in whole or part, you must include an explanation of the reasons you disagree.

2. As stated in Penal Code § 933.05(b), attached, you are required to respond with one of four possible actions to each applicable Recommendation: 3.

Your comments are due to the office of the Honorable Beth McGowen, 2023 Presiding Judge, Superior Court of California, County of Santa Clara, 191 North First Street, San José, CA 95113, no later than March 14, 2023. Copies of all responses shall be placed on file with the Clerk of the Court.

If you have any questions, please contact Britney Huelbig, Deputy Manager for the Civil Grand Jury, at (408) 882-2721 or [email protected].

Sincerely,
Karen Enzensperger
Foreperson
2022 Civil Grand Jury
Enclosures
cc: Peter Pirnejad, City Manager, Town of Los Altos Hills Attachment 2

§ 933.05. Responses to findings, West's Ann.Cal.Penal Code § 933.05 © 2019 Thomson Reuters. No claim to original U.S. Government Works. 1 California Statutes Annotated - 2018
West's Annotated California Codes
Penal Code (Refs & Annos)
Part 2. Of Criminal Procedure (Refs & Annos)
Title 4. Grand Jury Proceedings (Refs & Annos)
Chapter 3. Powers and Duties of Grand Jury (Refs & Annos) Article 2. Investigation of County, City, and District Affairs (Refs & Annos) West's Ann.Cal.Penal Code § 933.05
§ 933.05. Responses to findings
Currentness
(a) For purposes of subdivision (b) of Section 933, as to each grand jury finding, the responding person or entity shall indicate one of the following:
(1) The respondent agrees with the finding.
(2) The respondent disagrees wholly or partially with the finding, in which case the response shall specify the portion of the finding that is disputed and shall include an explanation of the reasons therefor. (b) For purposes of subdivision (b) of Section 933, as to each grand jury recommendation, the responding person or entity shall report one of the following actions:
(1) The recommendation has been implemented, with a summary regarding the implemented action. (2) The recommendation has not yet been implemented, but will be implemented in the future, with a timeframe for implementation.
(3) The recommendation requires further analysis, with an explanation and the scope and parameters of an analysis or study, and a timeframe for the matter to be prepared for discussion by the officer or head of the agency or department being investigated or reviewed, including the governing body of the public agency when applicable. This timeframe shall not exceed six months from the date of publication of the grand jury report. (4) The recommendation will not be implemented because it is not warranted or is not reasonable, with an explanation therefor.
(c) However, if a finding or recommendation of the grand jury addresses budgetary or personnel matters of a county agency or department headed by an elected officer, both the agency or department head and the board of supervisors shall Attachment 3

§ 933.05. Responses to findings, West's Ann.Cal.Penal Code § 933.05 © 2019 Thomson Reuters. No claim to original U.S. Government Works. 2 respond if requested by the grand jury, but the response of the board of supervisors shall address only those budgetary or personnel matters over which it has some decisionmaking authority. The response of the elected agency or department head shall address all aspects of the findings or recommendations affecting his or her agency or department. (d) A grand jury may request a subject person or entity to come before the grand jury for the purpose of reading and discussing the findings of the grand jury report that relates to that person or entity in order to verify the accuracy of the findings prior to their release.
(e) During an investigation, the grand jury shall meet with the subject of that investigation regarding the investigation, unless the court, either on its own determination or upon request of the foreperson of the grand jury, determines that such a meeting would be detrimental.
(f) A grand jury shall provide to the affected agency a copy of the portion of the grand jury report relating to that person or entity two working days prior to its public release and after the approval of the presiding judge. No officer, agency, department, or governing body of a public agency shall disclose any contents of the report prior to the public release of the final report.

Credits
(Added by Stats.1996, c. 1170 (S.B.1457), § 1. Amended by Stats.1997, c. 443 (A.B.829), § 5.)

HISTORICAL AND STATUTORY NOTES
2008 Main Volume
Stats.1997, c. 443 (A.B.829), in subds. (a) and (b), in the introductory paragraphs, substituted “(b)” for “(c)”; in subd. (b)(3), substituted “head” for “director”; in subd. (c), inserted “agency or” throughout; inserted subd. (e), relating to investigations and meetings with the grand jury; and, in subd. (f), substituted “presiding” for “supervising”.

CROSS REFERENCES
Grand jury defined, see Penal Code § 888.

Words and phrases, “county”, see Penal Code § 691.

RESEARCH REFERENCES
Encyclopedias
Cal. Jur. 3d Criminal Law: Pretrial Proceedings § 716, Recommendations and Reporting.

Cal. Jur. 3d Criminal Law: Pretrial Proceedings § 717, Responses to Findings.

Treatises and Practice Aids
Witkin, California Criminal Law 4th Introduction to Criminal Procedure § 43, Reports.

West's Ann. Cal. Penal Code § 933.05, CA PENAL § 933.05 Current with all 2017 Reg.Sess. laws.
(C) 2017 Thomson Reuters. No Claim to Orig. US Gov. Works.

§ 933.05. Responses to findings, West's Ann.Cal.Penal Code § 933.05 © 2019 Thomson Reuters. No claim to original U.S. Government Works. 3 End of Document © 2019 Thomson Reuters. No claim to original U.S. Government Works.

Release date here Page 0 of 22
SHOW ME THE MONEY:

FINANCIAL TRANSPARENCY NEEDED
2022 Santa Clara County
Civil Grand Jury
December 14, 2022
Attachment 4

SHOW ME THE MONEY: FINANCIAL TRANSPARENCY NEEDED

TABLE OF CONTENTS
GLOSSARY AND ABBREVIATIONS ...................................................................................... 2 SUMMARY ................................................................................................................................... 3 BACKGROUND ........................................................................................................................... 4 METHODOLOGY ....................................................................................................................... 5 INVESTIGATION ........................................................................................................................ 6 CONCLUSION ........................................................................................................................... 11 FINDINGS AND RECOMMENDATIONS ............................................................................. 12 REQUIRED RESPONSES ......................................................................................................... 15 APPENDIX ................................................................................................................................. 16 REFERENCES ............................................................................................................................ 19