1 City Council Regular Meeting Agenda
June 20, 2024
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.
Meetings of the City Council are held in-person. As a courtesy, and in compliance with applicable state law, staff and members of the public may participate in the meeting in person at Town Hall or virtually via Zoom Video Conference. Members of the City Council may participate remotely from time to time in accordance with the provisions of Government Code section 54953.
To attend the meeting in person:
City Council Chambers, 26379 Fremont Road, Los Altos Hills, CA 94022 To provide Public Comment in person:
Members of the public wishing to speak are requested to complete a speaker card and submit it to the City Clerk at the meeting.
To participate in the meeting via Zoom Video Conference, please follow the instructions below:
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.
If you wish to submit a public comment during the meeting, please use the following information.
Before speaking, please identify yourself by name and where you reside. The City Council meeting will be live-streamed on the Town’s website and via Zoom at the following location:
https://bit.ly/June20CCMeetingLAH
Webinar ID: 856 4049 2232
Passcode: 94022
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
Thursday, June 20, 2024, at 6:00 p.m.
Council Chambers, 26379 Fremont Road
Los Altos Hills, California
Remote Meeting Location:
3505 State Street
Santa Barbara, CA 93105
2 City Council Regular Meeting Agenda
June 20, 2024
1. CALL TO ORDER (6:00 P.M.)
2. ROLL CALL
3. PLEDGE OF ALLEGIANCE
4. AGENDA REVIEW
5. PRESENTATIONS AND APPOINTMENTS
A. Appointment/Reappointment to the Los Altos Hills Planning Commission
6. 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.
7. CONSENT CALENDAR
A. Approval of the Special Study Session Meeting Minutes- May 16, 2024 (Staff: A. Miller) B. Approval of the Special Closed Session Meeting Minutes- May 16, 2024 (Staff: A. Miller) C. Approval of Regular City Council Meeting Minutes - May 16, 2024 (Staff: A. Miller) D. Approval of Special Joint City Council and Finance Committee Meeting Minutes- May 21, 2024 (Staff: A. Miller)
E. Investment Quarterly Report Ended March 31, 2024 (Staff: P. Pirnejad) F. Review of Disbursements: April in the amount of $2,075,570.18 (Staff: P. Pirnejad) G. Approval of Treasurer’s Report for the Month Ended April 2024 (Staff: P. Pirnejad) H. Consideration of an Ordinance Amending Title 10 (Zoning and Site Development) of the Los Altos Hills Municipal Code to Amend Regulations Relating to Accessory Dwelling Units, the Grading Ordinance, Low Barrier Navigation Centers, and Emergency SheltersSecond Read (Staff: B. Evanson) I. Consideration of a Resolution Adopting Memorandum of Understanding between the Santa Clara County Recycling and Waste Reduction Technical Advisory Committee (TAC) Member Jurisdiction Establishing Ongoing Management and Operation of Edible Food Recovery Program to Comply with the Requirement of SB1383 (California’s ShortLived Climate Pollutant Reduction Strategy (Staff: S. Mattas)
3 City Council Regular Meeting Agenda
June 20, 2024
J. Consideration of a Resolution to Oppose Initiative #21-0042A1, the Taxpayer Protection and Government Accountability Act, and Authorization for the City Manager to Send a Letter to the California League of Cities (Staff: S. Mattas) K. Consideration of a Resolution Approving the Sewer Construction and Dedication Agreement for the Old Ranch Lane Sewer Main Extension (Staff: W. Kim) L. Informational Update on the El Monte Fire Station Utility Undergrounding (Rule 20A) Project Construction and Project Management Agreements (Staff: W. Kim)
8. ONGOING BUSINESS
A. Consideration of a Resolution Approving the Proposed Concept Plan for the Heritage House Upgrade Project and Authorizing the City Manager to Execute CDBG Funding Agreement with the County of Santa Clara (Staff: W. Kim) B. Consideration of a Resolution Authorizing the City Manager to Execute a Two-Year Extension to the Law Enforcement Agreement with the Santa Clara Office of the Sheriff (Staff: C. Einfalt)
9. PUBLIC HEARINGS
A. Consideration of a Resolution of the Town of Los Altos Hills Requesting the Santa Clara County Tax Collector Collect Delinquent Sewer Charges and FY2024-25 Sewer Service Charges for both the Palo Alto and Los Altos Sewer Basin (Staff: W. Kim) B. Consideration of a Resolution Adopting the Proposed FY 2024-25 Operating Budget and FY 2025-29 Five-Year Capital Improvement Plan Budget and Gann Limit for the Town of Los Altos Hills and Resolution Approving the FY 2024-25 Salary Schedule (Staff: P.
Pirnejad)
10. NEW BUSINESS
A. Council Discussion and Staff Direction on how to Disperse the Community Service Grant Fund (Staff: P. Pirnejad)
B. Consideration of a Resolution of the City Council of the Town of Los Altos Hills Calling a Municipal Election to be held on Tuesday, November 5, 2024, and Requesting Consolidation and Performance of Services from the County of Santa Clara Registrar of Voters (Staff: A. Miller)
11. STAFF REPORTS
A. City Attorney
B. City Clerk
C. Community Development Director
D. Public Works Director
4 City Council Regular Meeting Agenda
June 20, 2024
E. City Manager
- Update on Discussion with the County Septic System Design Standards
12. REPORTS FROM COUNCIL LIAISONS ON STANDING COMMITTEES, AD HOC
COMMITTEES, AND COUNCIL MEMBERS ON OUTSIDE AGENCIES
A. Status Report from All Council Members on Subcommittees and Outside Agencies Activities
13. COUNCIL, COMMISSION, AND COMMITTEE INITIATED ITEMS
14. 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.
ITEM 5A
TOWN OF LOS ALTOS HILLS
MEMORANDUM
SUBJECT: Appointments to the Los Altos Hills Planning Commission FROM: Arika Miller, City Clerk ABM
APPROVED: Peter Pirnejad, City Manager PP
______________________________________________________________________________ Attached for your review and consideration are applications for the Planning Commission by the following individuals:
• Jitze Couperus
• Veronica Hull
• Brigitta Indaco
• Mala Mehta
• Jim Waschura
There are currently 3 openings on the Planning Commission, each a four-year term beginning July 1, 2024, and expiring June 30, 2028. The notice of vacancies was advertised in The Weekly Newsletter, in the Town Crier, and in the Daily Post.
As of Thursday, June 13, 2024, at 5:00 p.m., the City Clerk’s Office had not received any additional applications for this position.
1 Arika Miller
From: [email protected]
Sent: Friday, May 31, 2024 2:36 AM
To: Arika Miller; Keren Brunner
Subject: Online Form Submittal: Town Committee/Planning Commission Application Form 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:
Planning Commission
Name Jitze Couperus
Registered Voter Yes
Address
Home Phone
Work Phone Field not completed.
Cell Phone
Email Address
Number of Years Town
Resident
51 (Section Break)
What motivated you to
apply to serve on the
Committee /
Commission?
Strong encouragement from my peers to re-apply as well as I want to finish up some long-term projects I have been involved in that are still "in process".(e.g. code modifications triggered by Housing Element updates, as well as reacting to more Senate Bills that dictate changes in our long-term planning)
2 How many meetings
have you attended of
the Committee /
Commission for which
you are applying?
Rough estimate 12 years times 10 meetings per annum = 120 Please describe your
involvement in
community activities,
civic services, and
volunteer organizations.
Facilitator/Convener of Adobe Creek Collaborative (5 years involving two cities and 5 Government Agencies)
Commissioner Los Altos Hills County Fire District (8 years) History Committee (12 years - approx?)
Planning Commission (12 years)
Digitizing, Indexing, and Archiving town's early and/or historical documents (15 years)
Friends of Westwind - Los Altos Hills Horsemens Assoc - Los Altos Trails Club
What skills and / or
attributes will you bring
to the Committee /
Commission you are
applying for?
Accumulated knowledge and experience (background) in
matters related to Planning Commission activities.
"Creative" arbitration or negotiation of conflicts between residents (neighbors) towards achieving win/win solutions What particular area of
responsibility on this
Committee /
Commission interests
you?
Maintaining our town's rural "look and feel" in the face of both new Governmental Edicts (County, State, Federal) as well as changing demographics and financial incentives and pressures of new developments (or redevelopment) of properties in our Town
Education Background
and Professional
Activities
After High School (in Kenya) conscripted into 2 years govt. service (trained as Reconnaissance Pilot and served as Asst District Commissioner of rural area) Then trained in Britain for 2 years as "Apprentice in Computing Machinery" (This was just before "Computer Science" became a recognized academic
subject) Graduated as "Master Journeyman" in Computer
Design.from a government training facility in Bletchley U.K.
Subsequently 40 year career in R&D with a British and then American computer manufacturer. Invited lecturer at
universities in U.S.A. Britain, Netherlands, Italy. Represented the U.S.A at International Standards Org meetings in Geneva defining various technical standards for worldwide use.
Please state reasons
why you want to
become a member of
this Committee /
Commission, including
what specific objectives
Increasing pressures threaten our town's "semi-rural" ambiance - coming from two main directions. (A) New Government
Regulations and (B) Financial incentives for developers or redevelopers in today's upscale real-estate market.
I have watched this develop over the last few years and would like to continue to shepherd our Town's planning decisions
3 you would be working
toward as a member.
(proposed modifications to our codes and policies) that are currently in process to a successful completion. We cannot freeze all change, but we can mold the type and extent of planning evolution in our town to retain (enhance?) the quality of life (i.e. desirability of living) of our Town.
While this evolutionary process will never be complete, we are currently in the throes of making decisions that will have significant impact on the face of our Town. I would like stay on the Commission long enough to see these reach completion.
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.
4 Please check the box I have read the Code of Conduct for Appointed Persons Signature Jitze Couperus
Date 5/31/2024
(Section Break)
Please let us know how
you heard about the
Town's Committees and
Membership
Application.
Town Website, Other
If other, please explain. I am currently a member of the Planning Commission and aware that my current term of appointment is expiring
(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.
1 Arika Miller
From: [email protected]
Sent: Thursday, June 13, 2024 9:45 AM
To: Arika Miller; Keren Brunner
Subject: Online Form Submittal: Town Committee/Planning Commission Application Form Follow Up Flag: Follow up
Flag Status: Flagged
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:
Planning Commission
Name Veronica Hull
Registered Voter Yes
Address
Home Phone
Work Phone Field not completed.
Cell Phone Field not completed.
Email Address
Number of Years Town
Resident
14 (Section Break)
What motivated you to
apply to serve on the
Having spent my entire life in this community, I bring an understanding and commitment to Los Altos and Los Altos
2 Committee /
Commission?
Hills. I was born and raised here, and I’ve raised my own children here. My extensive experience in real estate, coupled with a strong legal background, makes me an ideal candidate for the Planning Commission.
I am hard working, thoughtful, and attentive to both the finer details and the broader picture. For the past thirty years, I have successfully managed a diverse portfolio of properties in California and Hawaii. Additionally, I have bought, renovated, and sold three homes in our area, fixing each one up and selling for a profit.
I would like to serve on the Planning Commission because I believe I can contribute a balanced and fair perspective to the team. My commitment to the town is unwavering; I genuinely care about our community and its residents. My goal is to support and preserve the unique character of Los Altos Hills while addressing the needs and concerns of the people who live here.
How many meetings
have you attended of
the Committee /
Commission for which
you are applying?
Over the years, for a variety of reasons, I have attended well over twenty Planning Commission meetings.
Please describe your
involvement in
community activities,
civic services, and
volunteer organizations.
I am a Sustainer in Junior League Palo Alto – Mid Peninsula. I have held many leadership volunteer positions supporting my children while they were in school at St. Nicholas Catholic School and Sacred Heart Preparatory. I also have volunteered for the Parish Catholic Communities of St. Williams / St.
Nicholas.
I have always believed in being involved and meeting and knowing many people in the community. I am an empty nester now and have become increasingly interested in supporting local civic affairs. I enjoy real estate, land use, and participating in the evolution and growth of Los Altos Hills.
What skills and / or
attributes will you bring
to the Committee /
Commission you are
applying for?
I have spent a significant portion of my career working with Boards of Directors. I understand meeting protocol and have drafted many agendas and minutes. As an active attorney I understand real estate law and corporate objectives. My professional experience has provided me with the necessary skills to succeed in this role. Please reference my resume.
What particular area of
responsibility on this
All the areas of responsibility are appealing to me.
3 Committee /
Commission interests
you?
Education Background
and Professional
Activities
Please reference my resume.
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.
It has always been my dream to live and own property in Los Altos Hills, a dream I am fortunate to have realized. I love the space and the rural ambiance of the area. Having witnessed the Valley’s transformation from orchards and small towns to wealthy suburbs in the epicenter of the tech world, I have gained a unique perspective on the evolving pressures of our town and its residents.
This experience allows me to understand the demands of the town (instituted by the State) and the homeowners and brings perspective to competing priorities. I am deeply interested in the intersection of personal property ownership and
maintaining our community’s bucolic character. I believe both aspects are valuable and I will strive to balance these interests thoughtfully and effectively.
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 /
Yes
4 Commissions often
entails meetings
throughout the year,
and most Committees /
Commissions meet at
least once monthly. Can
you be available for
these meetings?
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 Veronica B Hull
Date 6/13/2024
(Section Break)
Please let us know how
you heard about the
Town's Committees and
Membership
Application.
Newspaper
(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.
Veronica Hull
Los Altos Hills, CA 94022 | | | l
Senior Assistant to CEOs | Executive Operations | C-Suite Management Several years’ experience as a dynamic executive support business professional with leadership and project management experience across finance and high-tech industries. A drive for maximum efficiency leveraging effective communication skills, critical thinking, business acumen, and diplomacy to save time and effort for the executive. Effective, professional, graceful under pressure. • Discreet and diplomatic with ability to interact with C-Suite and handle competing demands with ease • Innovative and resourceful with strong problem solving and organizational skills • Creative and high energy with strength in team building and development • Technically savvy, excellent command of MS Suite, Google apps, and cloud based solutions Professional Experience
SiTime, Santa Clara, CA
Senior Executive Assistant to CEO | 2023-Present
Work with the CEO, C-Suite, and Board of Directors, as well as employees at all levels, at a Nasdaq listed precision timing semiconductor company that champions an intense start-up type of environment. Involved with contractual legal matters, investor relations, and marketing efforts.
SoftBank Investment Advisors, San Carlos, CA
Senior Executive Assistant to Head of Operating Group and Operating Group Partners | 2018-2023 Simultaneously provided executive business operations support for four Operating Partners while they traveled around the world on a weekly basis to manage, enhance, and grow 400+ portfolio companies. Instituted systems that served to galvanize the Group. Supported marketing team with processing of their contracts and the real estate team, managing vendor contract and leases.
TriplePoint Capital and Triple Point Venture Growth, Menlo Park, CA Senior Executive Assistant to CEO and President | 2016-2018 Provided executive support to CEO, and the President, of a Sand Hill Road-based, global financing provider, to highgrowth venture capital-backed companies, and assisted in a wide variety of other leadership responsibilities related to corporate activities.
Project Management and Early Career Experience
Property Investment Management | Community and School Volunteer Continue to manage a property investment company for several homes located in California and Hawaii.
Coordinate remodeling projects, improvement, maintenance, and tax implications. Team lead on numerous events supporting Junior League and Sacred Heart Schools.
PriceWaterhouseCoopers, San Francisco, CA | Senior Staff Consultant Served as Chief of Staff to Financial Advisory Services Partner to support the Board of Directors for both the Cal PX and Cal IPO, newly formed entities created to support the deregulation of the California electricity market.
Accenture, San Francisco, CA | Staff Consultant
Developed and led Train the Trainers sessions for an Access Billing installation involving the deregulated telecommunications industry.
Education
JD, Santa Clara University School of Law, Santa Clara, CA (Active Member California State Bar #188515) BS, Finance, Art History Minor, Santa Clara University, Santa Clara, CA
1 Arika Miller
From: [email protected]
Sent: Wednesday, June 5, 2024 8:15 AM
To: Arika Miller; Keren Brunner
Subject: Online Form Submittal: Town Committee/Planning Commission Application Form 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:
Planning Commisison
Name Birgitta Indaco
Registered Voter Yes
Address
Home Phone
Work Phone Field not completed.
Cell Phone
Email Address
Number of Years Town
Resident
29 (Section Break)
What motivated you to
apply to serve on the
Committee /
Commission?
I enjoy working with Town Volunteers, Residents, and Planning Staff to preserve our Town's rural character and family friendly environment. I began with 2 years on the Environment Design & Protection Committee and have just completed 4 years on LAH Planning Commission.
2 How many meetings
have you attended of
the Committee /
Commission for which
you are applying?
50 Please describe your
involvement in
community activities,
civic services, and
volunteer organizations.
Besides serving 4 years on the LAH Planning Commission and 2 years on EDPC, I am a Master Gardener for Santa Clara County since 2009 ( 15 years). I am the Co - President/ President for the Los Altos/ Los Altos Hills Newcomers Club since 2019 - present (5 years). I'm also a member of the Los Altos Hills Club, California Rare Fruit Growers and Western Horticulture.
What skills and / or
attributes will you bring
to the Committee /
Commission you are
applying for?
I have been following CA Housing laws and want to help further our Housing Element with the ADU ordinance, SB 9 element and when the time comes - multi family housing zoning
ordinance while still protecting our unique town's rurality. With new site development / landscape screening applications, I study property details, blueprints, and town ordinances to effectively decide on site development issues, landscape screening between neighbors and review variance applications when needed. I also attend most Fast Track meetings since 2018 to keep informed as to what is happening in our town with housing applications and landscape review and learning from the trends.
What particular area of
responsibility on this
Committee /
Commission interests
you?
Completing our Housing Element deadlines and defining our Multi family housing zoning ordinance. Continuing to preserve our Town's General Plan and rurality with all the new housing legislation being passed.
Education Background
and Professional
Activities
I have a Computer Science degree from UCF (University of Central Florida)
and studied Mathematics/Statistics at Uppsala University in Sweden. I worked for aerospace and
computer companies before raising my family. I was
owner/builder for our LAH home in 2005-2007,
remodeling 2000 sq ft and working closely with our LAH
building dept. (I had attended a home
construction course for 6 months at West Valley College before daring to do the remodel.)
Please state reasons
why you want to
become a member of
this Committee /
I continue to enjoy working with Town Volunteers, Residents, and Planning Staff to preserve our Town's rural character and General Plan. I plan to focus on complying with our Housing Element deadlines, working on updating our Fencing
3 Commission, including
what specific objectives
you would be working
toward as a member.
Ordinance, and refine our ADU/SB9 ordinances to be
consistent. Also continue reviewing the challenging new site developments that come our way.
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 Birgitta Indaco
Date 6/4/2024
4 (Section Break)
Please let us know how
you heard about the
Town's Committees and
Membership
Application.
Other
If other, please explain. Town Volunteers
(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.
1 Arika Miller
From: [email protected]
Sent: Friday, May 31, 2024 2:01 PM
To: Arika Miller; Keren Brunner
Subject: Online Form Submittal: Town Committee/Planning Commission Application Form 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:
Planning Commission
Name Mala Mehta
Registered Voter Yes
Address
Home Phone
Work Phone Field not completed.
Cell Phone Field not completed.
Email Address
Number of Years Town
Resident
25 years
(Section Break)
What motivated you to
apply to serve on the
Committee /
Commission?
I have been a resident of Los Altos Hills since 1997. I started my career in marketing and business development in the tech industry but later changed careers and ran a small business as an interior designer so I could have flexibility to raise our kids while my husband had a very successful career in the tech
2 industry. I have worked directly with the town planners to remodel our home on multiple occasions since 2000. Our
family has actively participated in neighborhood and community events since we moved into the community in 1999. My kids are now grown, one is in college and the other is a rising junior.
So, this is the perfect time for me to serve my community.
How many meetings
have you attended of
the Committee /
Commission for which
you are applying?
Although I haven’t attended any planning commission meetings recently, I have done so in the past as there was building activity in our neighborhood.
Please describe your
involvement in
community activities,
civic services, and
volunteer organizations.
I have been a board member of the Mountain View Los Altos Service League of Boys for 4 years till my term expired in 2023.
I am a member of the Los Altos Chapter of the National Charity League and have held positions of responsibility over the last several years.
Through both organizations, MVLA SLOBs and NCL OVC, I
have volunteered extensively in the local community with my children Byrne Preserve, Westwind Barn, the Los Altos
Community Foundation, Boys & Girls Club, and Los Altos
History Museum.
I have also chaired a committee at the Palo Alto Hills Golf and Country Club where our family has belonged since 2010. I continue to be actively engaged with the community at our club.
My kids and I have also helped some of our elderly neighbors with their needs during the COVID lockdown.
I have also volunteered briefly with the environmental design committee at the Town of Los Altos Hills in the early 2000s.
What skills and / or
attributes will you bring
to the Committee /
Commission you are
applying for?
I am knowledgeable about the environment, design as well as construction. I have worked with a general contractors earlier in my career and have also managed contractors for several projects at our home. I am resourceful and energetic and have excellent interpersonal skills.
I respect the guidelines of how our town is governed and have followed m the rules and regulations of our town. I have also engaged S.P. Mcclenahan in the past to ensure the health of our oak trees. We regularly clear dry brush from our property in a timely manner each spring/summer.
What particular area of
responsibility on this
Committee /
Commission interests
you?
I’d love to meet the current planning committee members to understand the goal of the planning commission for the next several years to assess where I would be best suited.
3 Education Background
and Professional
Activities
- High School Diploma from India.
- Undergraduate Degree, St. Stephens College New Delhi, India.
- Masters in Design and Technology, National Institute of Fashion Technology, New Delhi, India.
- Associate Degree in Interior Design, West Valley College, Saratoga, CA, USA
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 like to give back to our community and utilize my experience and skills to improve our community and to ensure we continue to make the right decisions for the future.
I would be happy to hear current committee members thoughts and also hear from our community members and help evaluate what is best for our community.
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
Yes
4 you be available for
these meetings?
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 Mala Mehta
Date 5/31/2024
(Section Break)
Please let us know how
you heard about the
Town's Committees and
Membership
Application.
Town Newsletter, Other
If other, please explain. Los Altos Town Crier
(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.
1 Arika Miller
From: [email protected]
Sent: Thursday, May 30, 2024 7:38 AM
To: Arika Miller; Keren Brunner
Subject: Online Form Submittal: Town Committee/Planning Commission Application Form Follow Up Flag: Follow up
Flag Status: Flagged
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:
PLANNING COMMISSION
Name Jim Waschura
Registered Voter Yes
Address
Home Phone
Work Phone Field not completed.
Cell Phone
Email Address
Number of Years Town
Resident
25+
(Section Break)
What motivated you to
apply to serve on the
I am motivated by the progress the planning commission has made recently on getting the Housing Element approved by the
2 Committee /
Commission?
state and working with residents to create future developments that will be good for the town and good for addressing the region's housing needs. I believe these issues are challenging but I believe there are carefully-crafted solutions that residents will appreciate when they're done. I hope to participate in accomplishing this, while protecting our town's core semi-rural character. I am further motivated by helping residents have successful experiences going through the planning and
building processes.
How many meetings
have you attended of
the Committee /
Commission for which
you are applying?
All of them for the past 4 years
Please describe your
involvement in
community activities,
civic services, and
volunteer organizations.
Los Altos Hills planning commissioner, former advanced youth soccer referee, neighborhood advocacy
What skills and / or
attributes will you bring
to the Committee /
Commission you are
applying for?
Consensus building, able to read building and landscaping plans, knowledge of town ordinances, experience doing
remodeling, building, and landscaping. Recognition and
appreciation for town core values.
What particular area of
responsibility on this
Committee /
Commission interests
you?
Facilitating our staff, consultants, and city council to be successful with Housing Element progress and also working with neighbors and applicants to resolve differences and to help develop and communicate town positions on planningrelated matters affecting residents.
Education Background
and Professional
Activities
B.A. in mathematics and computer science, owned and
operated small electronics manufacturing business for over 20 years. Experienced with managing P&L, R&D, manufacturing, marketing, and sales. Inventor of numerous test equipment related technologies. Currently owner and operator of BitWise Laboratories, Inc, a second small electronics manufacturing business.
Please state reasons
why you want to
become a member of
this Committee /
Commission, including
what specific objectives
As a sitting member of the Planning Commission I enjoy the challenging work and I wish to continue serving the community, especially during these times with many new state housing requirements. I feel keeping up with our plan for implementing Housing Element programs will secure the town from negative consequences from the state, and being successful with this
3 you would be working
toward as a member.
will require experienced planning commissioners working closely with staff, consultants, and city council.
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 James R. Waschura
Date 5/30/2024
(Section Break)
4 Please let us know how
you heard about the
Town's Committees and
Membership
Application.
Other
If other, please explain. Town staff
(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
City Council Special Meeting Minutes- Study Session
Thursday, May 16, 2024 at 1:00 PM
Council Chambers, 26379 Fremont Road, Los Altos Hills, California
Present: Mayor Stanley Q. Mok, Vice Mayor Lisa Schmidt, Council Member Linda Swan, Council Member Kavita Tankha
Absent: Council Member George Tyson
Staff: City Manager Peter Pirnejad, City Attorney Steve Mattas, City Clerk Arika Birdsong-Miller, Assistant to the City Manager Cody Einfalt, Community Development Director Bradley Evanson, Assistant Community Development Director Jay Bradford, and Public Works Director WooJae Kim
1. CALL TO ORDER (1:00 P.M.)
Mayor Mok called the meeting to order at 1:00 P.M.
2. ROLL CALL
Mayor Stanley Q. Mok, Vice Mayor Lisa Schmidt, Council Member Linda Swan, and Council Member Kavita Tankha were present. Council Member George Tyson was absent.
3. PUBLIC COMMENT (Public Comment is Limited to Items which are the subject of the Special Meeting)
Mayor Mok made a motion to extend the time allowed for Public Comments from the current limit to 4 minutes. Vice Mayor Schmidt seconded the motion. Approved, Vote 4-0.
AYES: Mok, Schmidt, Swan, Tankha
NOES: None
ABSTAIN: None
RECUSE: None
ABSENT: Tyson
Public Comments will be noted after the conclusion of the Study Session presentation.
4. STUDY SESSION
A. Study Session to Discuss the Potential Formation of a Charter and Potential Ballot Measure to Approve the Charter and Consider the Adoption of a Real Property Tax Transfer Tax for the November 2024 Ballot.
City Manager Peter Pirnejad detailed that in recent years, the Town of Los Altos Hills has become aware of the potential of forming a Town Charter for the preservation of local land use control. In addition, the Town has seen an increase in residential burglaries which the City Council has addressed, in part, by approving significant additional funding for public safety. In addition, the Town has continued to prioritize the need to invest and enhance emergency preparedness efforts to prepare for and
respond to natural disasters such as wildfires and earthquakes. In order to support these safety and emergency preparedness priorities, the Town would need to consider a new revenue stream that could be used to support public safety measures and enhance community disaster preparedness and resilience.
In reviewing the options for a revenue measure the staff considered a number of options. Considering the Town has limited revenue sources based on the function of being an exclusively residential town with very little commercial activity that is subject to sales tax and given that the revenue that would be needed would be ongoing and not one-time, staff focused on tax revenue options that relate to aspects of property ownership. The tax measure that would affect the least number of people while likely still generating the necessary annual revenue is a form of Real Property Transfer Tax (RPTT). The RPTT could be structured so that it would only be collected upon sale of real property and would not apply to the transfer of real property through a trust when the property is transferred to a beneficiary of the trust.
The process for approval of both a Town charter and a RPTT will require a series of public meetings and hearings to consider the proposed ballot measures, a decision by the City Council to place the ballot measure on either November 2024 or November 2026 general election ballots and ultimately voter approval for both items. There are some urgencies as well as some risks in placing the charter and RPTT on the 2024 ballot. With regards to urgencies, the Town is currently supporting the additional public safety costs through partial use of reserves and that is not likely to be sustainable in the long term. In addition, as the City Council is aware the state continues to enact housing laws that preempt local land use authority of general law cities such as the Town. While the state has attempted to apply some of those new housing laws to charter cities, a recent trial court decision in Southern California determined that SB9 interferes with local land use authority that charter cities have as it relates to local land use authority.1 This trial court is not binding case law authority throughout California and may, in fact, be appealed.
On the other hand, given the limited time, the Town has to conduct a poll to better understand the level of public support for both a proposed charter and a proposed RPTT, a step that most often occurs when cities and Town propose ballot measures, there is the risk that the proposed ballot measures may not be successful or as successful as they may be if there was a longer period of time for community engagement and discussion on the proposed measures. Also, if the Town were to proceed with ballot measures this year, the ballot measure approving the formation of a charter and approval of charter city status would likely be narrowly tailored to the issues of local land use authority and authority to propose for voter approval a RPTT. To that end, the Town could propose a narrowly tailored charter at this time and then consider further modifications at a subsequent election. The purpose of this study session in limited to introducing these concepts to the City Council and the public and then seeking direction from the Council as to whether the Council desires to further consider the matters. There will be no final action at this study session unless the Council provides direction to stop any further consideration of either the charter city concept or the RPTT.
Under current California law, only a charter city may propose and adopt with voter approval a RPTT. In addition, consideration of general tax such as a RPTT must occur at the same time as Council elections (i.e November 2024 or November 2026, except in
very limited circumstances of financial crisis which likely does not apply to the current Town situation. Based on the last two years of public safety spending in response to the unprecedented and disturbing trend of residential burglaries and the anticipated sheriff’s contract increases, the Town has and is expecting to experience well over a million dollars of additional public safety spending each year. These additional fiscal impacts include the expense for additional overtime sheriff deputies, higher calls for services in response to unprecedented calls for service, additional private security spending, automatic license plate readers, and consulting efforts to study and support council priorities in addressing this troubling trend. In the future, the Town may want to consider additional tech, communication, and related safety enhancements that would prove to protect the Town further.
In discussions with the Council during the last goal setting session in January 2024, disaster preparedness and response has been stressed. Given the fire-prone characteristics of the Town and the potential for earthquakes, the council has prioritized the need for a more robust mass communication tool, emergency evacuation and preparedness planning tools, and more focused staff attention on both preparation and response to a Town-wide emergency. Additional funding would be used for both additional staff, vendors, solutions, and equipment that would support this priority as well as leveraging both the Sheriff and the County Fire District.
Given the magnitude of the expense the Town has been and is expecting to continue to need to use General Fund reserves to cover the additional financial burden associated with public safety and disaster preparedness and response. Although the Town has a robust General Fund reserve the long-term viability of using one-time savings for continuous and ongoing expenses is not conducive. It is just a matter of time before the Town would need to pursue additional revenue measure(s) or approve cuts to city services.
Under normal circumstances the formation of a Charter and new RPTT would take well over a year before placing the measures on the ballot. In that time the staff would pursue polling, engage the community, conduct multiple community workshops and public hearings as well as possibly commission a more comprehensive analysis to consider all the options. However, given the perceived urgency for the formation of the charter and the significant and lasting fiscal implications of additional public safety and disaster preparedness and response, staff would recommend the council consider a 2024 Ballot measure.
It should be noted that a ballot measure in 2024 under these circumstances is not ideal and could come with inherent risks and uncertainties. For that reason, if the council chooses to pursue the Charter and PRTT in for the November 2024 general election, the timeline would be extremely aggressive, and the community would need to be supportive of such action. On the pros side a 2024 ballot would be faster, cheaper and have the potential to protect the Town local land use control as well as introduce a new funding source at a time when we need it the most. On the other hand, targeting 2024 would mean that we do not have the polling data, necessary community engagement, and needed outreach to gain the support that would normally be done in advance of a charter and RPTT ballot measure.
Mr. Pirnejad explained that staff is recommending that the Town Council and community consider proposing a real property transfer tax and transitioning to a Charter City status as prudent courses of action to address these pressing needs. However, we would suggest that at any point between now and the filing deadline of August 9th if the council and staff feel that the residents would be better served pushing the effort to 2026 we should reserve the option to do so.
GENERAL LAW VS. CHARTER CITY
Currently, Los Altos Hills is what is known as a General Law city. A General Law City has the authority to act locally but its acts must be consistent with the California Constitution, state statutes, and state administrative regulations. A Charter City adopts a Charter, which is a document that outlines how a city is governed. A Charter City has the additional authority to adopt laws regarding "municipal affairs" that are different from state statutes, while still being consistent with the US and California Constitutions. Municipal affairs may include the form of city government, elections, some aspects of zoning and land use, the process of contracting for public works, and the scope of authority related to taxes and assessments. A city may only become a Charter City with voter approval. In our area, local charter cities include Mountain View, Palo Alto, Redwood City, San Mateo, Santa Clara, Sunnyvale, Albany, Emeryville, Berkeley, Richmond, Oakland, Alameda, Piedmont, San Francisco, San Leandro, and San Rafael.
WHY A CHARTER CITY
The City of Los Altos Hills was incorporated as a general law city in 1956 by residents seeking the right to manage local affairs. Since then, the authority of general law cities over local affairs has diminished. Furthermore, the State has continually added mandates for cities that require local resources to address State concerns, increased its control over local matters, and redirected much-needed local revenue for its own purposes.
Changes in State law have limited the ability of Los Altos Hills to decide how to make local land use decisions. The power of home rule, granted by the California Constitution, makes available to charter cities a variety of tools to use to construct local policy and address local concerns. The voters of each charter city get to decide which tools to put in their toolbox. With this Charter, Los Altos Hills will reclaim more local autonomy and expand the economic and fiscal independence of our City government to promote the health, safety, and welfare of all its residents.
FREQUENTLY ASKED QUESTIONS ABOUT CHARTER CITIES AND RPPT Charter City formation and RPTT are not uncommon among cities to take steps to protect local rule and secure a funding source that does not impact property owners until they sell their homes. As stated earlier there are a number of cities in the Bay Area and a larger number statewide that have formed charters and passed RPPTs. Some of the most recent include El Cerrito formed in early 2019 and St. Helena that is scheduled for the ballot in 2024.
1. What is a Charter City?
A Charter City adopts a Charter, which is a document that outlines how a city is governed.
Becoming a charter city allows voters to determine how their city government is organized and, with respect to municipal affairs, enact legislation different than that adopted by the state.
2. Why is Los Altos Hills considering becoming a charter city? The Town of Los Altos Hills was incorporated as a general law city in 1956 by residents seeking the right to manage local affairs. Since then, the authority of general law cities over local affairs has diminished. Furthermore, the State has continually added mandates for cities that require local resources to address State concerns, increased its control over local matters, and redirected much-needed local revenue and land use authority for its own purposes. Changes in State law have limited the ability of Los Altos Hills to decide how to use local dollars for local needs as well as control local land use decisions.
The power of home rule, granted by the California Constitution, makes available to charter cities a variety of tools to use to construct local policy and address local concerns. The voters of each charter city get to decide which tools to put in their tool box. With this Charter, Los Altos Hills will reclaim more local autonomy and expand the economic and fiscal independence of our City government to promote the health, safety, and welfare of all its residents.
3.How will Los Altos Hills become a charter city?
To become a charter city, a city must adopt a charter. There are two ways to adopt a charter:
The city’s voters elect a charter commission.21 The commission has the responsibility of drafting and debating the charter.
The governing board of the city, on its own motion, drafts the charter.22 In either case, the charter is not adopted by the city until it is ratified by a majority vote of the city's voters.23
League of California Cities. http://www.cacities.org/Resources-Documents/ResourcesSection/Charter-Cities/Charter-Cities-A-Quick-Summary-for-the-Press-and-R. 21Cal. Gov’t Code § 34451. 22Cal. Gov’t Code § 34458.
23Cal. Gov’t Code §§ 34457, 34462.
4.When will residents vote on this measure?
On November 3, 2024.
The City Council will hold public hearings on the Charter at the June 20th and July 18th Council meetings and file the ballot measure before the August 9th deadline for the November 3rd 2024, ballot.
5.What is a Real Property Transfer Tax or RPPT?
A RPTT is a tax that is only paid upon the sale of property and is traditionally split between the buyer and seller. Charter cities may adopt—with voter approval—a Real Property Transfer Tax at any rate.2
The revenue could be used for: the primary and intended use of the funds is for public safety and disaster preparedness / response. As a general and not a special tax the Town is not obligated to
use the money for that sole purpose in perpetuity if council and community priorities change in the future.
6.Are there other charter cities in the Bay Area?
In our area, local charter cities include Mountain View, Palo Alto, Redwood City, San Mateo, Santa Clara, and Sunnyvale. In the greater Bay Area they include Albany, Emeryville, Berkeley, Richmond, Oakland, Alameda, Piedmont, San Francisco, San Leandro, and San Rafael.
7. As a homeowner, will I have to pay the RPTT every year? No. The RPTT is a one-time tax paid when a property is sold or otherwise transferred in return for a payment to the owner. It’s not an ongoing, annual tax. If you own a home and don’t sell it, you won’t pay the tax. If you sell your home, the tax measure allows you and the buyer to decide who should pay the tax.
8. Will I have to pay the Real Property Transfer Tax if I gift my home to a family member, place it in a Family Trust, or leave it to my children as an inheritance? A RPTT can be structured to plainly state that the tax is calculated based on the amount paid as part of a sale or other transfer. Depending on how the RPTT is structured if your home is transferred without any payment by the person or trust receiving it, there is no tax to pay.
9. What can the revenue be used for? Why is it not guaranteed for specific services or improvements?
There are two ways to structure the RPTT, general or special. A special tax, which requires a majority vote of the Council to place the measure on the ballot and a 2/3 voter approval can only be used for the purposes specified in the tax measure. A general tax, which takes a higher percentage of council to place the measure on the ballot but only requires a simple majority of voters to approve can be used for general purposes as determined by the City Council. Like most of the City’s revenues, funds from the proposed RPTT, are intended to be general in nature and can be used for all the services the City provides. Each year, during the public budget process, the City Council adopts a budget based on the priorities of the community, which regularly change. As part of the City’s general funds, RPTT revenues can be allocated based on changing needs and priorities. The purpose that we see now and the foreseeable future is public safety and disaster preparedness and response.
10.Will we get any additional or increased services if the RPTT passes? Yes. Additional funds will be available for increased public safety and disaster preparedness and response and potentially other council priorities in amounts determined annually and publicly by the City Council to reflect community priorities and needs.
11.Will the Real Property Transfer Tax directly impact property values? Although the RPTT will affect the total cost of a new property purchase in Los Altos Hills it is unclear if this one tax will affect property values. There are many factors at play that affect property values and costs including realtor commissions, mortgage rates, and other costs that affect ultimate home affordability.
What is clear, however, is that the revenue generated from the RPTT will be invested in public safety, disaster preparedness, response, and other Town amenities that enhance the overall quality of life in the community, it could bolster property values over the long term.
12.Will the Real Property Transfer Tax negatively impact the proceeds from a sale of a home in Los Altos Hills?
Real Property Transfer Tax measured can be structured to allow buyers and sellers of property to decide who will pay the tax. Traditionally, it is split between the buyer and the seller.
13.Will being a Charter City increase the chances the City will go bankrupt? There is no documented causal connection between charter city status and bankruptcy. There are very few instances of California cities filing for bankruptcy. Both charter cities and general law cities have used bankruptcy proceedings. The proposed Los Altos Hills Charter authorizes the City to use additional tools to raise revenue for important services but makes no changes to existing local law that would alter how the City spends its funds. The City is audited annually by an independent auditor and has a Financial and Investment Committee made up of volunteers that looks at the City’s budget, audits, and financial policies.
In 2014, voters in the City of Emeryville, El Cerrito and most recently St. Helena (in the process) similarly approved a limited charter that expanded their ability to raise revenue, including a RPTT. The proposed Los Altos Hills Charter leaves in place local law, other than to give the City more options for raising revenue and authorizing a RPTT.
TIMELINE AND NEXT STEPS
In order to post the RPPT and charter on the 2024 ballot we need to file our ballot language by August 9, 2024. In that time, we need two public hearings spaced 30 days apart.
The tentative Los Altos Hills – Charter Adoption Timeline Pursuant to Gov. Code Section 34458
• May 29, 2024 – Deadline to provide notice of first of two public hearings o Notice of hearing must be provided at least 21 days before hearing by (1) posting a notice in three public places within the City and (2) Publishing a notice in a newspaper published once a week or oftener designated by city council and circulated throughout the city. Notice must be published twice once a week or more, with at least five days intervening between respective publication dates. (Gov. Code Sections 34458(b), 6066.)
• June 19, 2024 – Last possible date to hold first of two public hearings o The two public hearings must be held at least 30 days apart (Gov.
Code Section 34458(b).)
• June 28, 2024 – Deadline to provide notice of second public hearing o Notice of hearing must be provided at least 21 days before hearing by (1) posting a notice in three public places within the City and (2) Publishing a notice in a newspaper published once a week or oftener designated by city council and circulated throughout the city. Notice must be published twice once a week or more, with at least five days intervening between respective publication dates. (Gov. Code Sections 34458(b), 6066.)
• July 19, 2024 -– Last possible date to hold second public hearing
o Second public hearing must be held at least 30 days after the first public hearing and at least 21 days before city council votes on whether to submit a proposal to adopt the charter to voters (Gov. Code Section 34458(b).)
• August 9, 2024 – Deadline for city council to vote on whether to submit a proposal to adopt the charter to voters
o City council vote must occur at least 88 days before the statewide general election (Gov. Code Section 34458(a).)
• November 5, 2024 – Statewide general election - Voters vote on whether to adopt the charter (Gov. Code Section 34458(a).)
Council Member Swan asked when the proposed Charter has to be completed to go to the ballot to ensure that certain provisions including being able to have horses in the Town of Los Altos Hills. City Attorney Mattas replied that the last day is August 9, 2024.
Council Member Tankha would like the Finance and Investment Committee to look over the budget over the last few years to see if we can find cost savings before we increase taxes for residents. Council Member Tankha further stated that she would like more time to educate residents about the proposal because only 6 residents are in attendance.
Vice Mayor Schmidt questioned what tools the RPTT will have on land use protections. Vice Mayor Schmidt questioned how much more the consultants would cost if we moved this measure to the 2026 ballot.
Mayor Mok questioned if we could separate the RPTT from the Charter City. City Manager Pirnejad said yes, we can separate the two.
Public Comment:
1. Allan Epstein, Los Altos Hills, unclear if this action will do anything to help with SB-9. Mr. Epstein stated that this issue has not been presented to the Finance and Investment Committee. He further stated that we are in the middle of completing the Town’s budget and doesn’t think now is the right time to present this item.
Mr. Epstein is not in favor of this item at this time.
2. Carol Gottlieb, Los Altos Hills, wanted to see a revenue chart in the packet to support this item. Ms. Gottlieb stated that she is in favor of the City Charter, but is against the additional property tax.
3. Duffy Price, Los Altos Hills, stated that she hopes the state will stop overreaching and trying to control what is best for individual Towns. She explained that we can use the Home Rule Laws if we become a Charter City. Mrs. Price would like to see the Charter City and the RPTT separated.
4. Rajiv Bhateja, Los Altos Hills, presented a PowerPoint presentation on his budget analysis. Mr. Bhateja stated that the Public Safety cost only increased 4% when
the Administration increased 41%.
5. Erica Imeri, Los Altos Hills, is in agreement with the comments and statements made by Rajiv Bhateja. Ms. Imeri would like to pause on voting to see more research before a decision is made.
Council Member Swan made a motion to approve proceeding with the poll for Charter City and RPTT research with the items being separated on the ballot. Mayor Mok seconded the motion. Motion failed, Vote 2-2.
AYES: Mok and Swan
NOES: Schmidt and Tankha
ABSENT: Tyson
ABSTAIN: None
The meeting adjourned at 3:34 PM.
Respectfully submitted,
Arika Birdsong-Miller
City Council Special Meeting Minutes
May 16, 2024
Town of Los Altos Hills
City Council Special Meeting Minutes
Thursday, May 16, 2024 at 5:00 PM
Council Chambers, 26379 Fremont Road, Los Altos Hills, California Remote Meeting Location: Hotel d’Europe, 12 Place Crillon, 84000, Avignon, France
Present: Mayor Stanley Q. Mok, Vice Mayor Lisa Schmidt, Council Member Linda Swan, Council Member George Tyson, Council Member Kavita Tankha
Absent: None
Staff: City Manager Peter Pirnejad, City Attorney Steve Mattas, City Clerk Arika Birdsong-Miller
1. CALL TO ORDER (5:00 PM) Open Session
Mayor Mok called the meeting to order at 5:00 PM.
2. ROLL CALL
All Members of the City Council were present. Council Member George Tyson participated virtually from Hotel d’Europe, 12 Place Crillon, 84000, Avignon, France.
3. PUBLIC COMMENT (Public Comment is Limited to Items which are the Subject of the Special Meeting)
There were no Public Comments.
1. ADJOURNED TO CLOSED SESSION TO DISCUSS THE FOLLOWING:
The City Council adjourned to Closed Session at 5:03 PM to consider the following:
A. Conference with Legal Counsel- Existing Litigation
(Pursuant to Government Code section 54956.9(d)(1))
Linebarger v. Los Altos Hills Case No. 2015-1-CV-282970 B. Conference with Legal Counsel – Anticipated Litigation (Pursuant to Government Code Section 54956.9(d)(2))
Significant exposure to litigation: Two cases
2. ADJOURN
The meeting adjourned and there was no reportable action resulting from the Closed Session.
Town of Los Altos Hills
City Council Regular Meeting Minutes
Thursday, May 16, 2024
Council Chambers, 26379 Fremont Road, Los Altos Hills, California Remote Meeting Location: Hotel d’Europe, 12 Place Crillon, 84000, Avignon, France
Present: Mayor Stanley Q. Mok, Vice Mayor Lisa Schmidt, Council Member Linda Swan, Council Member George Tyson, Council Member Kavita Tankha
Absent: None
Staff: City Manager Peter Pirnejad, City Attorney Steve Mattas, City Clerk Arika Birdsong-Miller, Assistant to the City Manager Cody Einfalt, Community Development Director Bradley Evanson, Assistant Community Development Director Jay Bradford, and Public Works Director WooJae Kim
1. CALL TO ORDER (6:00 P.M.)
Mayor Mok called the meeting to order at 6:00 P.M.
2. ROLL CALL
All Members of the City Council were present. Council Member George Tyson participated virtually from Hotel d’Europe, 12 Place Crillon, 84000, Avignon, France.
3. PLEDGE OF ALLEGIANCE- Recited
4. AGENDA REVIEW
The agenda was approved as presented removing Item 7K and 7M from the Consent Calendar.
5. PRESENTATIONS AND APPOINTMENTS
A. Proclamation Recognizing Public Works Week on May 19th - 25th, 2024 Public Works Director WooJae Kim presented the proclamation recognizing the Public Works Department and thanked the staff for all their hard work and dedication.
B. Appointment to the Environmental Design and Protection Committee - Council Member Swan made a motion to appoint Anne Hsiao to the Environmental Design and Protection Committee. Council Member Tankha seconded the motion.
Approved, Vote 5-0.
C. Reappointment to the Community Relations Committee- Council Member Tankha made a motion to reappoint April Anair to the Community Relations Committee.
Council Member Swan seconded the motion. Approved, Vote 5-0.
D. Reappointment to the Environmental Initiative Committee- Council Member Tankha made a motion to reappoint Steve Schmidt to the Environmental Initiative Committee. Council Member Swan seconded the motion. Approved, Vote 4-0.
Vice Mayor Schmidt abstained.
E. Reappointment to the History Committee- Council Member Swan made a motion to reappoint Carol Gottlieb to the History Committee. Council Member Tankha seconded the motion. Approved, Vote 5-0.
6. PRESENTATIONS FROM THE FLOOR
1. Allan Epstein, Los Altos Hills, stated that he feels like 2 minutes for residents to speak during Public Comments is not enough time.
2. Rajiv Bhateja, Los Altos Hills, agreed with the comments from Allan Epstein and stated that people should be given more time to speak.
3. Sasha Zbrozek, Los Altos Hills, echoed Allen Epstein's comments and spoke about the delay in posting the agenda and packet material.
4. John Swan, Los Altos Hills, spoke about the Study Session item and advised the Council that there is only a small window left to make it to the November 2024 ballot.
7. CONSENT CALENDAR
Vice Mayor made a motion to approve the Consent Calendar removing Items 7K and 7M.
Council Member Swan seconded the motion. APPROVED, VOTE 5-0 A. Approval of Regular City Council Meeting Minutes- April 15, 2024 - APPROVED, VOTE 5-0
B. Review of Disbursements: March in the amount of $2,292,045.08 APPROVED, VOTE 5- 0 C. Approval of Treasurer's Report for the Month Ended March 2024 APPROVED, VOTE 5-0
D. Consideration of a Resolution Approving the Plans and Specifications for the Matadero Creek Restoration and Bank Stabilization Project; Approving the Plans and Specifications for the Matadero Creek Restoration Offsite Mitigation Planting and Fencing Project at Byrne Preserve; Authorizing Staff to Advertise the projects for formal bids; and Approving Covenant and Deed Restrictions on Town Parcels APN 182-32-008 and APN 182-32-021 APPROVED, VOTE 5-0
E. Consideration of a Resolution Approving the Fiscal Year 2024-25 Project List for Annual Pavement Rehabilitation and Drainage Improvement to be Funded by State Senate Bill 1, The Road and Accountability Act of 2017 APPROVED, VOTE 5-0 F. Consideration of a Resolution Approving Plans and Specifications for 2024 Pavement Rehabilitation and Drainage Improvement Project and Authorizing Staff to Advertise for Formal Bid APPROVED, VOTE 5-0
G. Consideration of a Resolution Approving the Summary Vacation of Sanitary Sewer and Public Utility Easements at 13334 La Cresta Drive APPROVED, VOTE 5-0 H. Consideration of a Resolution Accepting Dedication of Right-of-Way Easement from Lands of The Kurmann Family Trust at 13867 Robleda Road. APPROVED, VOTE 5-0
I. Consideration of a Resolution Accepting Dedication of Right-of-Way Easement from Lands of DCV Enterprise Partners, LLC at 26481 Purissima Road. APPROVED, VOTE 5-0
J. Consideration of a Resolution Approving a Conditional Certificate of Compliance (File No.
CC23-0001) for the Lands of Roberts at APN 182-04-089, commonly known as 27360 Elena Road. APPROVED, VOTE 5-0
K. Consideration of a Resolution Authorizing the City Manager to Execute an Agreement with Palo Alto Animal Control Services (Pets In Need) for animal control services in Los Altos Hills (Staff: C. Einfalt)- REMOVED FROM CONSENT CALENDAR L. Consideration of a Resolution Directing that the Pride Flag be Raised for the Month of June 2024 APPROVED, VOTE 5-0
M Consideration of a Resolution Adopting the First Amendment to the agreement between the Town of Los Altos Hills and Kevin W Harper CPA and Associates to increase the notto-exceed amount from $60,000 to $120,000.(Staff: P. Pirnejad) -REMOVED FROM
CONSENT CALENDAR
ITEM 7K- Consideration of a Resolution Authorizing the City Manager to Execute an Agreement with Palo Alto Animal Control Services (Pets In Need) for animal control services in Los Altos Hills APPROVED, VOTE 5-0
ITEM 7M- Consideration of a Resolution Adopting the First Amendment to the agreement between the Town of Los Altos Hills and Kevin W. Harper CPA and Associates to increase the not-to-exceed amount from $60,000 to $120,000. APPROVED, VOTE 5-0
8. ONGOING BUSINESS- None
9. PUBLIC HEARING
A. Consideration of an Ordinance Amending various sections under Chapters 1 and 2 of Title 10, Zoning and Site Development, of the Los Altos Hills Municipal Code to: amend regulations relating to Accessory Dwelling Units in conformance with Government Code Section 66314 et seq: amending the Grading Ordinance under Article 4, Chapter 2, Title 10 to clarify the City Engineer authority to consider wet season grading moratorium exceptions; to establish Low Barrier Navigation Centers as a permitted use within the Residential-Agricultural (R-A) zoning district in accordance with Government Code Section 65660 et seq: and to update regulations pertaining to Emergency Shelters in accordance with Government Code Section 65583.
Community Development Director Bradley Evanson explained that on January 30, 2023, the City Council adopted the 6th Cycle Housing Element to cover the planning period from 2023 through 2031. The California Department of Housing and Community Development (HCD) certified the adopted Housing Element, inclusive of certain technical revisions, on May 30, 2023.
An integral part of the Housing Element is the Implementation Program. The Implementation Program is divided into seven general categories, each of which contains
multiple activities, tasks, and projects that would further the various goals, objectives, and policies of the Housing Element. The categories include Housing Production; Constraint Removal; Housing Preservation and Improvement; Housing Assistance; Special Housing Needs; Affirmatively Furthering Fair Housing; and Education and Outreach. Individual tasks and projects include but are not limited to: amendments to the Town’s Municipal Code to remove constraints on the development of housing; working with the Town’s partners on providing municipal sewer and other services to ensure that there is sufficient infrastructure capacity to accommodate the development anticipated under the updated Housing Element; and providing outreach including a website that contains information about service providers, emergency shelters, and tenant protections available to persons experiencing housing needs or challenging circumstances. Given that the Housing Element covers the 8- year planning period from 2023 through 2031, some of the programs have identified earlier dates of action/implementation than others. Some programs have already been implemented, and others have a regularly recurring review and reporting period.
The Ordinance and its amendments discussed in this staff report and presented to the Commission are proposed to address Housing Element Programs B-6, B-11, E-2, and E-3, all of which identified a target completion date of Q1 2024.
Mr. Evanson further explained that The four categories of amendments proposed for consideration include:
1. Amendments to the Los Altos Hills Zoning Ordinance to update regulations for Accessory Dwelling Units (ADUs) to reflect recently adopted State regulations for ADUs.
2. Amendments to the Zoning Ordinance to allow the City Engineer to authorize exceptions to the Town’s wet season grading moratorium.
3. Amendments to the Zoning Ordinance to establish Low Barrier Navigation Centers as an allowed use within the Residential-Agricultural (R-A) zoning district.
4. Amendments to the Zoning Ordinance to update regulations pertaining to Emergency Shelters to conform with regulations within the California Government Code.
These amendments are included as Exhibit A to the City Council Ordinance and elaborated in further detail below.
Accessory Dwelling Units
Regulations pertaining to ADUs are generally consolidated in Title 10, Chapter 1, Article 14 of the Zoning Ordinance. The past several years have seen several different bills get adopted in Sacramento that amend ADU regulations contained in the California Government Code. To bring the Town’s ADU regulations in line with the current State regulations, the following amendments have been proposed:
1. LAHMC Sec 10-1.1403(c)(3): the following text is added to the end of the section to ensure compliance with Assembly Bills 345 and 587: “…primary dwelling on the property, unless the accessory dwelling unit or the primary dwelling was built or developed by a qualified nonprofit corporation, and all of the conditions set forth under Government Code section 66341 (b) – (e) have been satisfied.”
Staff notes that although the recently enacted AB 1033 includes certain additional provisions to potentially allow separate conveyance of ADUs from the primary dwelling pursuant to a condominium subdivision map, such allowance is at the discretionary of the public agency and not mandatory. As such, the proposed amendments only codify the mandatory separate conveyance provisions under AB 345 and 587.
2. LAHMC Sec 10-1.1403(e): the revisions to this section are made in compliance with the new amendment to Government Code section 66321 (c)(3). This section now requires that front setbacks, along with other local development standards, cannot be applied to prohibit the construction of an ADU if the unit otherwise meets state and local requirements.
3. LAHMC Sec 10-1.1403(f): The following text is added after subsection 2: “(3) The maximum height of a detached Accessory Dwelling Unit shall be 18 feet on a lot that has an existing or proposed multi-family, multi-story dwelling or is within one-half of one mile walking distance of a major transit stop or a high-quality transit corridor, as defined in Sec 21155 of the California Public Resources Code. A further 2 feet of height is also allowed to accommodate a roof pitch on the ADU that is aligned with the roof pitch of the primary dwelling unit.”
4. LAHMC 10-1.1404: this section was revised to clearly state objective standards that the Town utilizes in requiring accessory dwelling units to match the primary dwelling unit. The matching requirement has been based on objective construction and numeric standards, rather than subjective determinations, in compliance with state law, and this revision provides further clarity to affirm this approach. The underlying objective standards have not changed; such standards will be the subject of subsequent discussion and undergo proposed revisions to be prepared by Town staff and considered by the Planning Commission before being presented to Council.
5. LAHMC 10-1.1409: this section was revised to reflect state law changes that now prohibit local governments from denying an ADU application based on the correction of nonconforming zoning or building code violations unless there is a threat to public health and safety from the ADU construction.
6. Other minor non-substantive changes have been made throughout the ADU ordinance to update statutory references and ensure internal consistency.
Grading Ordinance
During the adoption and certification of the Housing Element, the Town’s wet season grading moratorium within the Grading Ordinance (LAHMC Sec 10-2.401 et seq) was identified as a potential impediment to development. The conclusion reached was that adding language to the Municipal Code to grant the opportunity for exceptions or waivers to the grading moratorium would satisfactorily remove the impediment to development, while still preserving the ability to exercise discretion in ensuring development grading activities would be conducted safely. To address this, the following amendment to LAHMC Sec 10-2.404 is proposed:
The City Engineer may restrict grading operations during the wet season.
This change would clarify the ability for the City Engineer to exercise discretion in allowing grading activity to occur within the moratorium period, subject to judgement on conditions based on recent past and predicted future weather conditions and duration of proposed construction activities. The change also aligns with current Town practice as the Town does not impose a blanket moratorium at all times, and therefore provides more clarity for applicants and staff.
Low Barrier Navigation Center
In its efforts to move the unhoused and underhoused into permanent housing as quickly and efficiently as possible, the State has promoted the establishment of Low Barrier Navigation Centers in communities experiencing various impacts from the housing crisis. To incorporate this into the Housing Element Implementation Program, there are two amendments proposed to the Municipal Code as follows:
A. LAHMC Sec 10-2.202: a definition of “Low Barrier Navigation Center” is added to define the term. As shown in the draft ordinance under Exhibit A, this definition defines a low barrier navigation center as a temporary living facility that focuses on moving people into permanent housing with case managers connecting individuals experiencing homelessness to a variety of services, and engaging in practices to reduce barriers to housing and related services.
B. LAHMC Sec 10-1.702: “Low-Barrier Navigation Center” is added as an additional use to Accessory Uses and Structures Permitted in the R-A district on property designated Institutional and/or Public on the Town’s Land Use Diagram, all consistent with the Housing Element. As shown in Exhibit A of the draft ordinance, these edits replicate the standards under state law that a low-barrier navigation center is required to meet, and establishes a ministerial process for approving these projects.
Emergency Shelter and Transitional Housing
The final proposed revision in this set of amendments is to revise the existing Emergency Shelter and Transitional Housing sections of the Zoning Ordinance. As with the Low-Barrier Navigation Center section, this will consist of amendments to the Definitions and the Accessory Uses language.
A. LAHMC Sec 10-1.202: adding a definition for Emergency Shelters to clarify what types of projects belong to this use. This definition is taken from the Health and Safety Code and defines emergency shelters to mean temporary housing with minimal supportive services for homeless persons that is limited to occupancy of six months or less by a homeless person. These shelters may also include other interim interventions, including but not limited to, a navigation center, bridge housing, and respite or recuperative care.
B. LAHMC Sec 10-1.702: this section is revised to move emergency shelters from an accessory use to a primary use, as set forth in the Housing Element. It also clarifies the operational standards and requirements that emergency shelters must follow, and revises them to only include objective standards. These revisions follow the specific actions outlined in the Housing Element program requirement.
Director Evanson stated that on May 2, 2024, the Planning Commission conducted a public hearing to consider the proposed amendments to the Municipal Code. Following discussion further clarifying the details and intent of the proposed amendments, the Planning Commission voted unanimously by resolution to recommend that the City Council adopt an Ordinance to amend the Municipal Code as described herein.
The Public Hearing was open for public comments.
There were no comments.
Vice Mayor Schmidt made a motion to Waive Reading and introduce an Ordinance incorporating the proposed amendments to the Los Altos Hills Municipal Code to further implement the Town’s 6th Cycle Housing Element. Council Member Swan seconded the motion. Approved, Vote 5-0
MOTION PASSED 5-0:
AYES: Mok, Schmidt, Swan, Tankha, Tyson
NOES: None
ABSTAIN: None
RECUSE: None
ABSENT: None
10. NEW BUSINESS
A. Review the 2023 Housing Element Annual Progress Report and Authorize Transmittal of the Report to the Department of Housing and Community Development.
Community Development Director Bradley Evanson presented the Housing Element Annual Progress Report and explained that State law requires that all General Plans include a Housing Element, which provides a plan for accommodating future housing production needs. State law further requires that all cities and counties create an annual progress report that describes that community’s progress toward implementing their Housing Element. The annual report must be submitted to HCD and the state Office of Planning and Research (OPR) yearly. This annual report being presented to the City Council is prepared to address this state law requirement and to document the Town’s progress in the 2023 reporting period. Town staff has been communicating and working with HCD staff on the preparation and submittal of this annual report; HCD is currently expecting municipalities to submit the annual progress report by June 1, 2024, to maintain consistency with state law.
The Housing Element APR fulfills statutory requirements to report certain housing information, including the local agency’s progress in meeting its share of regional housing needs (i.e., applications, entitlements, permits, and certificates of occupancy), certain rezoning activities, actions taken towards completion of housing element programs, and local efforts to remove governmental constraints to the development of housing (Government Code Section 65400). California’s housing element law acknowledges that in order for the private market to adequately address the state’s housing needs, local governments must adopt plans and regulatory systems that provide opportunities for and do not unduly constrain, housing development. As a result, housing
policy rests largely on the effective implementation of local general plans and housing elements.
Existing Land Use Conditions
The Town of Los Altos Hills historically consisted of very low-density residential land uses along with supporting institutional uses (religious and educational facilities). All development is encompassed within one zoning district, Residential-Agricultural (R-A), which permits the following types of housing:
• single-family residences;
• Senate Bill 9 (SB 9) units;
• accessory dwelling units (ADUs);
• residential care facilities for six (6) persons or less; • transitional and supportive housing for six (6) persons or less; • emergency shelters with up to five (5) beds.
Closeout of 5th Cycle Housing Element Planning Period
During the 5th Planning Cycle, the Town Housing Element included various programs designed to increase housing opportunities for the residents and meet the Town’s state-mandated Regional Housing Needs Allocation (RHNA) numbers for Very-Low, Low, and Moderate-income households.
It should be noted that all new primary residences are designated as Above-Moderate income households, and historically, the primary method through which the Town meets its affordable housing goals for new housing units is through the development of accessory dwelling units (ADUs) and more recently, through SB 9 units. Due to changes in State law, ADUs are now permitted on all properties (no minimum lot size or requirement that the property be owner-occupied), may be up to 1,200 square feet in total living area, may utilize tandem parking or parking within the yard setbacks, and shall be approved through a ministerial process if the project meets all objective criteria in the Town’s ADU regulations. In addition, SB 9 was enacted on January 1st, 2022, which allowed for a third dwelling unit, with a minimum size of 800 square feet, to be ministerially approved on an existing property. Furthermore, state law also allows for junior accessory dwelling units (JADUs) of up to 500 square feet in size on all properties through the conversion of existing floor area within a primary single-family residence. In support of ADUs, the City Council has reduced or eliminated sewer and pathway impact fees for new ADUs, and existing unpermitted ADUs can be legalized administratively through a building permit process.
In the previous Housing Element planning cycle (2015-2022), the Town exceeded its overall goal significantly (121 units required – 241 units constructed). The overall RHNA number for the 2015- 2022 planning cycle was 121 units comprised of the following income categories as follows: 46 Very-Low, 28 Low, 32 Moderate, and 15 Above-Moderate. A summary of housing permits from the Housing Element Annual Progress Report (seen in Table 2) shows the number of units constructed annually in each income category for the eight-year RHNA planning period.
Vice Mayor Schmidt made a motion to Approve the 2023 Housing Element Annual Progress Report and Authorize Transmittal of the Report to the Department of Housing and Community Development. Council Member Swan seconded the motion. Approved, Vote 5-0 MOTION PASSED 5-0:
AYES: Mok, Schmidt, Swan, Tankha, Tyson
NOES: None
ABSTAIN: None
RECUSE: None
ABSENT: None
Council Member George Tyson left the meeting at 7:18 PM.
11. STAFF REPORTS
A. City Attorney - No report.
B. City Clerk - Arika Miller reported that she is working on an updated contract log that will be available in June.
C. Community Development Director Bradley Evanson provided an update on the Community Development Department.
D. Public Works Director WooJae Kim reported that on May 16, the Town received bids from four (4) contractors for the project ranging from $3.9 million to $4.9 million. The bids are over the Engineer's Estimate of $3.5 million. Staff will evaluate the bids in detail and work with the Utility Underground Subcommittee before awarding a construction contract not to exceed $4.2 million as approved by the City Council at the April 15th meeting.
E. City Manager Peter Pirnejad presented the following:
We have a planned power outage for Friday, June 7th for PG&E to pull the wires for the battery backup project.
The picnic is June 2ndWe had a great pathway run, with nearly 500 runners.
Emina's getting married.
Intern interviews were this week. Great applicants!
We also finished the external lights to the chambers.
We can see them in use at the end of tonight's meeting
Town Hall Public Safety Forum was held on May 15.
The Town held a public safety forum based on direction from the council to educate and hear from our residents in the Town. We had representatives from the Sheriff, Flock PalAmerican Security (FKA Genesis), and others. An official postcard was mailed out. About 70 people were attending in-person and online.
We also launched a New Pilot Notification Program called "With." The platform allows residents in new and existing neighborhood watch groups to form and communicate with each other quickly and easily as well as allows us to push notifications to them by zone. Three pilot programs are underway.
We have about 20 openings on the following Committees/Commissions:
Community Relations Committee- 1 vacancy
Environmental Design & Protection Committee- 3 vacancies Environmental Initiatives Committee- 2 vacancies
Finance and Investment Committee - 5 vacancies
Open Space Committee- 2 vacancies
Parks and Recreation Committee- 4 vacancies
Pathways Committee- 2 vacancies
Planning Commission- 3 vacancies
We have mailed copies of our Quarterly to the community.
Highlights:
Budget, Fire District Updates, coexisting with Coyote's, a public safety update, Information about our new online PRA Tool, update on the Rule 20A project, advertising of committee openings, events, and updates on our Transition to our Building Permit Process - Staff is working on several updates to the software we use for permitting. As part of that work, the Town began accepting digital applications and working with the community to refine our process.
Going forward to save money we intend to have two quarterly and 2 Activity guides with some updates in place of 4 quarterly publications and 2 activation guides.
Next Week we will have our FIC/CC Meeting
That same day we will have virtual coffee with the sheriff.
The Public Works Annual Staff Appreciation lunch will be next week.
Progress on the Broadband discussions with the Technology Committee.
We should have an update for the council at the next meeting May 21st_
12. REPORTS FROM COUNCIL LIAISONS ON STANDING COMMITTEES, AD HOC
COMMITTEES, AND COUNCIL MEMBERS ON OUTSIDE AGENCIES
A. Status Report from All Council Members on Subcommittees and Outside Agencies Activities
1. Council Member Swan invited everyone to attend the Pet Parade.
13. REPORTS FROM COUNCIL, COMMISSION, AND COMMITTEE-INITIATED ITEMS
A. Proposed Notice of Opposition for SB 1037 (Wiener) Planning and Zoning: Housing Element: Enforcement (Staff: Council Member Swan)
Council Member Tankha made the motion to send a Notice of Opposition for SB 1037 (Wiener) Planning and Zoning: Housing Element: Enforcement. Council Member Swan seconded the motion. Approved, Vote: 3-0. Vice Mayor Schmidt abstained from the vote.
MOTION PASSED 3-0:
AYES: Mok, Swan, Tankha
NOES: None
ABSTAIN: Schmidt
RECUSE: None
ABSENT: Tyson
B. Proposed Notice of Opposition for AB 1886 (Alvarez) Housing Element Law:
Substantial Compliance (Staff: Council Member Swan)
Council Member Tankha made the motion to send a Notice of Opposition for AB 1886 (Alvarez) Housing Element Law: Substantial Compliance. Council Member Swan seconded the motion. Approved, Vote: 3-0. Vice Mayor Schmidt abstained from the vote.
MOTION PASSED 3-0:
AYES: Mok, Swan, Tankha
NOES: None
ABSTAIN: Schmidt
RECUSE: None
ABSENT: Tyson
14. ADJOURN
The meeting was adjourned at 7:36 P.M
Town of Los Altos Hills
Joint City Council and Finance & Investment Committee
Special Meeting Study Session Minutes
Tuesday, May 21, 2024 at 10:00 AM
Council Chambers, 26379 Fremont Road, Los Altos Hills, California
1. CALL TO ORDER (10:00 AM)
2. ROLL CALL
Mayor Mok called the May 21, 2024, Joint City Council and Finance & Investment Committee Special Meeting Study Session to order at 10:04 a.m.
Present: Mayor Stanley Mok, Vice Mayor Lisa Schmidt, Council Member Linda Swan, Council Member Kavita Tankha, and Council Member George Tyson
Absent: None
Staff: City Manager Pirnejad, Assistant to the City Manager Cody Einfalt, City Clerk Arika Miller, Public Works Director WooJae Kim, Community Development Director Evanson, Assistant Director Bradford, and Maintenance Supervisor Schloetter.
Other: Finance & Investment Committee (FIC): Chair Allan Epstein, Susan Mason, Nathan Blair, Kjell Karlsson, Jeanne Seeley, Sean McGraw, Michele Raffin, Consultant Drew Corbett
3. STUDY SESSION
A. Study Session Regarding Proposed FY24 – FY25-26 Operating Budget and the FY2025 – 2029 Five-Year Capital Improvement Plan (Staff: P. Pirnejad) City Manager Pirnejad provided introductory comments and introduced Consultant Drew Corbett.
Consultant Corbett shared a presentation, outlining the proposed budget. He highlighted the proposed change from a one-year plan to a two-year plan.
A question-and-answer session between the Council, Staff, FIC Members, and Consultant Corbett ensued regarding presented elements of the budget, with the Council requesting more detail be provided in certain areas of the budget documentation.
The meeting recessed at 11:05 a.m.
The meeting reconvened at 11:09 a.m.
Jim Waschura, a resident of the Town and attending via Zoom, commented about the issues around needing a full-time compliance officer.
City Manager Pirnejad responded to the comment.
Assistant to the City Manager Einfalt continued with the discussion regarding elements of the budget proposal.
Joint City Council and Finance & Investment Committee Special Meeting Study Session May 21, 2024, Minutes
Chair Epstein provided comments and asked staff questions regarding elements of the Administration section of the budget.
A question-and-answer session between Council and Staff regarding the categorization of certain expenses ensued.
Each Councilmember provided comments in turn.
Rajiv Bhateja, a resident of Los Altos Hills, provided comments regarding errors in the budget as presented.
Chair Epstein noted his agreement with Rajiv’s comments regarding errors in the budget as presented.
Mayor Mok requested the public comments be heard at each section of the presentation and asked if there were any questions from the public regarding the current section of the budget being discussed.
City Clerk Miller commented there were no questions from the public.
Assistant to the City Manager Einfalt continued his presentation of the draft budget document.
A question-and-answer session between the Council and Staff ensued regarding expenditure for consultants.
Chair Epstein noted discrepancies in the numbers presented in the proposed budget.
Anand Ranganathan, a resident of Los Altos Hills, provided comments on the staffing issue and the budget.
Rajiv Bhateja, a resident of Los Altos Hills, provided comments on the consultant and contractor expenditures.
FIC Member Nick commented on the proposed budget.
Mayor Mok provided comments regarding the inflation factor, the increase in animal service costs.
Councilmember Swan commented on the Housing Element expense that as placed upon the Town by the state.
Vice-Mayor Schmidt asked about the other items that were added to the numbers in that area.
Chair Epstein commented that one of the factors in increases was the addition of headcount.
Mayor Mok noted the increases that were itemized.
City Manager Pirnejad provided clarifying comments for each line item of the “Budget by Department” section of the document in response to the Council’s comments.
Joint City Council and Finance & Investment Committee Special Meeting Study Session May 21, 2024, Minutes
A question-and-answer session regarding viewing a detailed spreadsheet, and whether the Finance department had reviewed the budget information line-by-line between the Council, FIC members, and Staff ensued.
FIC member Nate Blair noted he did wish to see the line-by-line items in the budget.
Chair Epstein provided comments regarding items in the presented draft budget, using the example of changes in the staffing in the Finance Department from year to year.
FIC member Karlsson provided comments regarding details not presented to the public in the draft budget.
City Manager Pirnejad provided comments in response to the concerns regarding staffing and allocation in the budget. He noted that staff had prepared for the 2023-24 budget vs. the 2024-25 budget for this meeting. He requested the Council provide directions to staff regarding delivering a budget proposal that satisfied their expectations.
Anand Ranganathan, a resident of Los Altos Hills, noted that the Council and FIC could not have things both ways, citing that each was asking for a line-by-line proposal, but also stating they did not want to review a line-by-line budget proposal.
Assistant to the City Manager Einfalt continued with the department budget presentation regarding the City Attorney section.
City Manager Pirnejad provided clarifying comments on this area.
City Clerk Miller presented the City Clerk section of the budget, noting the one major difference was the addition of $35,000 for the upcoming election.
A question-and-answer session between Chair Epstein and Staff ensued regarding details of this section.
Mayor Mok asked for comments from the public and City Clerk -Miller noted there were none.
The presentation continued with the Committees and Commission section of the proposed budget.
Mayor Mok asked for comments from the public and City Clerk Miller noted there were none.
The presentation continued with the Community Service Grant Expenditures section of the proposed budget. (2:05 in the video timeline)
A question-and-answer session between the Council and Staff ensued regarding donations to organizations.
Chair Epstein provided comments regarding donation allocation.
Mayor Mok asked for comments from the public and City Clerk Miller noted there were none.
The presentation continued with the General Liability section of the proposed budget.
Joint City Council and Finance & Investment Committee Special Meeting Study Session May 21, 2024, Minutes
Chair Epstein noted that the numbers represented a 31% increase. He requested that the Town review their insurance later.
The presentation continued with the Finance and Administration section of the proposed budget.
Chair Epstein provided comments regarding the planned change in director for this department.
City Manager Pirnejad provided clarifying comments in response to FIC comments.
Chair Epstein provided follow-up comments, requesting where the $60,000 line item for the contract services that was recently approved by the Council was listed in the budget, as it was not shown in the table shown.
City Manager Pirnejad provided a response and a question-and-answer session between Staff and the FIC ensued.
Rajiv Bhateja, a resident of Los Altos Hills, commented that he felt the typographical errors in the budget proposal were not much a concern for him, but the mathematical errors were much more serious to him.
A discussion regarding a lunch break ensued.
The meeting recessed at 12:25 p.m.
The meeting was reconvened at 12:35 p.m.
The presentation continued with the Town Center Expenditures section of the proposed budget by Assistant to the City Manager Einfalt.
The Council provided comments and a question-and-answer session between the Council and Staff ensued.
Chair Epstein commented on the items listed on this section of the proposed budget.
City Manager Pirnejad affirmed Chair Epstein’s comments.
Mayor Mok asked for comments from the public and Assistant to the City Manager Einfalt noted there were none.
The presentation continued with the Police Administration Expenditures section of the proposed budget by Assistant to the City Manager Einfalt.
City Manager Pirnejad asked clarifying questions to help the Council understand the listed numbers.
Mayor Mok commented that he did not believe that the Town could reduce law enforcement services at this time, despite the projected increase in budget.
Chair Epstein noted that this area was of great importance to the community and felt he needed to explore this section more thoroughly.
A question-and-answer session between the FIC Chair and Staff, and the Anand Ranganathan ensued.
Joint City Council and Finance & Investment Committee Special Meeting Study Session May 21, 2024, Minutes
Anand Ranganathan, a resident of Los Altos Hills, continued his public comment by asking if the community benefitted from the increase proportionally.
Rajiv Bhateja, a resident of Los Altos Hills, provided comments on this area of the budget and posed a question. He noted that he felt that there was merit to the increase due to the increase of safety issues in the community.
Mayor Mok asked for further comments from the public and City Clerk Miller noted there were none.
The Council provided comments and a question-and-answer session between the Council and Staff ensued.
The presentation continued with the Animal Control Expenditures section of the proposed budget by Assistant to the City Manager Einfalt.
City Manager Pirnejad provided clarifying comments to help the Council understand the listed numbers and projected increases.
The Council provided comments and a question-and-answer session between the Council, FIC members and Staff ensued.
Chair Epstein commented on this section of the budget and noted corrections that needed to be made.
The presentation continued with the Community Development section of the proposed budget by Director Evanson.
Director Evanson shared the presentation of the Planning Administration section of the proposed budget and provided comments. (~2:46 in the video timeline) A question-and-answer session between Chair Epstein and Staff ensued regarding Housing Element expenditures.
Mayor Mok asked for further comments from the public and City Clerk Miller noted there were none.
Director Evanson shared the presentation of the Code Enforcement section of the proposed budget and provided comments.
Mayor Mok asked for further comments from the public and City Clerk Miller noted there were none.
Assistant Director Bradford shared the presentation of the Building Operations section of the proposed budget and provided clarifying comments relative to the presented information.
Mayor Mok noted his approval for the completeness of the presentation of this section of the budget asked for comments from the public and City Clerk Miller noted there were none.
Chair Epstein provided comments on items in this section of the budget.
Assistant Bradford provided response comments to Chair Epstein’s concerns.
Joint City Council and Finance & Investment Committee Special Meeting Study Session May 21, 2024, Minutes
FIC member Karlsson noted his approval of the improvements in the staffing and departmental improvements that have occurred over the past year.
Mayor Mok opened the floor to public comment on this section of the proposed budget.
Anand Ranganathan, a Los Altos Hills resident, noted his concerns about the numbers projected in this section of the proposed budget.
Assistant Director Bradford provided clarifying comments in response to Anand’s concerns.
Rajiv Bhateja, a resident of Los Altos Hills, asked for an explanation for increases in certain budgeted items.
Assistant Director Bradford provided clarifying comments in response to Rajiv’s concerns.
A question-and-answer session between the Council, FIC, and Staff ensued.
The presentation continued with the Community Services Expenditures section of the proposed budget by Assistant to the City Manager Einfalt. (~3:31 in the video timeline)
A question-and-answer session between the FIC members, Council, and Staff ensued.
Vice-Mayor Schmidt left the meeting. (~3:38 in the video timeline) Public Works Director Kim shared the presentation of the Engineering Expenditures section of the proposed budget and provided comments.
A question-and-answer session between the FIC members, Council, and Staff ensued.
Mayor Mok asked for further comments from the public and City Clerk Miller noted there were none.
Public Works Director Kim continued with the presentation of the Sewer Expenditures section of the proposed budget and provided comments.
A question-and-answer session between the FIC members and Staff ensued.
Mayor Mok noted that he wished to have the next sections of the budget be presented without comment, and then take comments afterwards.
Public Works Director Kim continued with the presentation of the Storm Drain and Pathways Operations Expenditures sections of the proposed budget and provided comments.
Maintenance Supervisor Schlotter provided clarifying comments on the Maintenance and Corporation Yard section of the proposed budget.
Mayor Mok asked for public comments on this section of the proposed budget.
Rajiv Bhateja, a resident of Los Altos Hills, made a request to organize the budget differently.
Joint City Council and Finance & Investment Committee Special Meeting Study Session May 21, 2024, Minutes
Mayor Mok asked for further comments from the public and City Clerk Miller noted there were none.
City Manager Pirnejad requested to review the next section at a high level to preserve time.
Director Kim provided clarifying comments on the various projects noted by the city manager.
A question-and-answer session between the FIC members and Staff ensued.
Mayor Mok asked for further comments from the public and City Clerk Miller noted there were none.
Mayor Mok closed the study session around 4:10 in the meeting video and moved to the next section of the agenda.
No motion.
4. NEW BUSINESS
A. Resolution Authorizing Staff to Negotiate an American Rescue Plan Act Funding Agreement with Los Altos Hills Community Fiber to install underground fiber infrastructure at priority sites; and Approving the Broadband Infrastructure Project to be included in the 2024-25 City Council Work Plan
Public Works Director Kim queued the presentation and introduced the project consultant.
Project Consultant Sean Rose, of S.R. Rose Engineering, spoke to the prepared slides on the Broadband Infrastructure Project.
Public Works Director Kim continued with the staff report after Sean’s presentation.
A question-and-answer session between the Council and Staff ensued.
Mayor Mok asked for further comments from the public.
Gautam Agrawal, a resident of Los Altos Hills, commented on this project.
A question-and-answer session between the Council and Gautam ensued.
Daniel Dulitz, a resident of Palo Alto and owner of Next Level Infrastructure, which is the contractor the Los Altos Hills Community Fiber has been using, provided public comment.
Rajiv Bhateja, a resident of Los Altos Hills, provided public comment.
Allan Epstein, a resident of Los Altos Hills, provided public comment.
Kjell Karlsson, a resident of Los Altos Hills, provided public comment.
Mayor Mok asked for further comments from the public and City Clerk Miller noted there were none.
Joint City Council and Finance & Investment Committee Special Meeting Study Session May 21, 2024, Minutes
MOTION MADE AND PASSED: Councilmember Swan moved that they pass a resolution authorizing the staff to Negotiate an American Rescue Plan Act Funding Agreement with Los Altos Hills Community Fiber to install underground fiber infrastructure at priority sites; and Approving the Broadband Infrastructure Project to be included in the 2024-25 City Council Work Plan with the amount of staff work minimized by outflowing as much of it as possible to LAHCF as appropriate.
The motion was seconded by Mayor Mok.
MOTION PASSED: 5-0
AYES: Swan, Tankha, Tyson, Schmidt, Mok
NOES: none
ABSTAIN: none
RECUSE: none
ABSENT: none
5. PUBLIC COMMENT
Public Comment is Limited to Items which are the Subject of the Special Meeting Public comment was noted as taken during the presentation of each item.
6. ADJOURN
The meeting was adjourned at 3:23 p.m.
Respectfully submitted,
Arika Miller
City Clerk
ITEM 7E
TOWN OF LOS ALTOS HILLS June 20, 2024
Review of Quarterly Investment and Financial Control Reports SUBJECT: RECEIVE QUATERLY INVESTMENT AND FINANCIAL
CONTROL REPORTS FOR PERIOD ENDING MARCH 2024
FROM: Fifi Ngom, Finance Manager
APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION:
Receive the March 2024 Quarterly Investment and Financial Controls Reports.
BACKGROUND:
The March Quarterly Investment and Financial Controls Reports are submitted to the Finance and Investment Committee for transparency.
DISCUSSION:
The summarized information attached is for cash and investments and financial controls for the Quarter ended March 31, 2024.
ENVIRONMENTAL REVIEW:
The Disbursement Report is exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 15061(b)(3) of the CEQA Guidelines. 2024-2025 CITY COUNCIL WORK PLAN:
The report is for financial transparency and was not specified as one of the City Council’s Work Plan items for 2024-2025.
FISCAL IMPACT:
There is no fiscal impact for the March 2024 Quarterly Investment and Financial Control Reports.
ATTACHMENTS:
1. March 2024 Quarterly Investment and Financial Control Reports.
6/30/2022 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 Wells Fargo - checking account 2,800,325 794,927 1,191,015 1,712,234 3,712,294 3,014,931 2,179,776 3,667,903 LAIF 8,496,798 8,012,706 6,042,597 7,077,224 7,120,429 5,676,339 3,729,130 3,773,893 CAMP:
US Treasuries 12,500,400 11,999,496 12,383,866 12,794,523 11,340,966 9,009,166 9,377,618 9,684,286 US Agencies 1,188,798 1,157,973 1,037,097 1,054,353 1,045,525 1,051,353 1,076,732 1,079,230 Corporate Notes 3,957,587 4,264,231 4,458,943 4,502,134 5,137,599 5,310,539 5,536,981 5,843,984 US Agency CMO 714,547 733,142 585,201 575,197 1,267,825 3,103,278 3,769,491 3,433,471 Supranationals 497,023 487,577 379,302 384,576 382,237 385,089 154,545 Municipal Bonds/Notes 1,496,937 1,364,285 1,371,886 1,387,031 1,385,810 1,188,451 1,010,021 917,061 Bank Notes
Money Market 222,639 141,650 118,310 127,267 149,480 310,066 12,868 4,624 Certificate of Deposit 122,566 122,861 123,793 - - 394,265 398,471 400,651 CAMP SUBTOTAL 20,700,497 20,271,218 20,458,397 20,825,081 20,709,444 20,752,208 21,336,726 21,363,306 Total cash & investments $ 31,997,620 $ 29,078,851 $ 27,692,009 $ 29,614,539 $ 31,542,166 $ 29,443,478 $ 27,245,632 $ 28,805,102 $ Change from prior period $ 1,410,124 $ (2,918,769) $ (1,386,842) $ 1,922,530 $ 1,927,627 $ (2,098,688) $ (2,197,846) $ 1,559,469 % Change 5% -9% -5% 7% 7% -7% -7% 6%
Other cash & investments (not on the Town's books):
CalPERS - CERBT 2,561,220 2,374,987 2,537,235 2,656,230 2,724,634 2,372,335 2,763,189 2,862,004 PARS - 115 Trust 1,040,671 990,751 1,066,703 1,076,116 1,103,320 1,065,989 1,160,103 1,199,439 BNY Mellon - agency fund 147,368 147,692 148,584 149,932 151,465 153,256 155,116 156,988 Accrued Interest
CAMP 73,674 65,765 90,123 76,257 91,536 84,213 101,288 102,899 LAIF 6,409 29,891 34,627 43,205 55,910 52,791 44,763 -
Investment Performance Review
For the Quarter Ended March 31, 2024
Client Management Team PFM Asset Management LLC
Monique Spyke, Managing Director 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
ITEM 7E, Attachment 2
© 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 Market Update
CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Current Market Themes
▸ The U.S. economy is characterized by:
▹ Robust growth that continues to show surprising strength▹ Sticky inflation that remains above the Federal Reserve (Fed)’s 2% target▹ Labor markets continuing to show impressive job gains and low unemployment▹ Resilient consumer spending supported by wage growth that is outpacing inflation ▸ Federal Reserve reaffirms rate cut expectations
▹ Forecast of 75 basis points of cuts this year▹ After entering the year expecting 6 cuts in 2024, markets have adjusted their expectations to only 2 to 3 cuts in 2024
▹ Fed officials reaffirm that restoring price stability is the priority, but further confidence in inflation moving toward the 2% target is needed, which may delay the timing of rate cuts ▸ Treasury yields increase following the change in market expectations ▹ Yields on maturities between 2 and 10 years rose 30-40 basis points during the quarter▹ Yield curve inversion persists▹ Spreads in most sectors fell to multi-year lows given the strong economic environment
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 61 of 624 1
1.5%
2.5%3.5%4.5%5.5%6.5%7.5%8.5%9.5%
Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Consumer Price Index
Year-Over-Year Changes
CPI CPI Forecast Fed Target
Inflation Remains Range Bound After Significant
Decline in CPI in 2022 and Early 2023
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
Source: Bloomberg, as of 4/10/2024.
CPI exceeds expectations
Federal Reserve Inflation Target
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 62 of 624 2 Source: Bloomberg. Job openings as of February 2024. Monthly change in nonfarm payrolls and unemployment rate as of March 2024. Data is seasonally adjusted.
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Labor Market Remains Strong
05 10152025
Feb-20 Feb-21 Feb-22 Feb-23 Feb-24
Millions
Job Openings vs. Unemployed Workers
Job Openings Unemployed
2.3mm gap
146
278
303
240
184
210
246
165
182
290
256
270
303
0 50
100150200250300350400450500
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Thousands
Monthly Change In
Nonfarm Payrolls
Jobs-to-jobless ratio
continues to come into better
balance
829K Q1
637K Q4
Apr-20
14.8 Mar-24
3.8 0%2%4%6%8%
10%12%14%16%
2020 2021 2022 2023 2024
Unemployment Rate
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 63 of 624
3 Source: Bureau of Economic Analysis, U.S. Department of Commerce; as of March 28, 2024.
GDPNow estimates provided by the Federal Reserve Bank of Atlanta; as of April 4, 2024. The Atlanta Fed GDPNow estimate is a model-based projection not subject to judgmental adjustments. It is not an official forecast of the Atlanta Fed, its president, the Federal Reserve System, or the Federal Open Market Committee. Bloomberg Forecasts as of March 2024.
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Atlanta Fed
2.6% GDPNow Forecast
2.2% 2.1%
4.9%
3.4%
2.0%
0%1%
2%3%4%5%6%
Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Forecast
U.S. GDP
2.5%
Bloomberg Forecast
Consumer Spending Continues to Drive Strong Economic Growth
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 64 of 624
4 Market Reversed Course and Now
Expects a Slower Pace of Rate Cuts
Source: Bloomberg, as of March 2024.
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
Market reprices
expectations for
number of cuts
in 2024 in
response to
hotter than
expected
inflation and a
resilient labor
market
2.0%2.5%3.0%3.5%4.0%4.5%5.0%5.5%
Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25
Implied Fed Funds Rate
3-Month Range Fed Funds as of March 28, 2024 Fed Funds as of January 02, 2024 +72 bps
+76 bps
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 65 of 624 5 Yields Reprice on Fed Patience
Source: Federal Reserve, Bloomberg, as of 3/31/2024.
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
From the
March 24 FOMC
Meeting
Press Conference
4.62%
3%4%5%6%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
2-Year Treasury Yield
4.35%
3%4%5%6%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
10-Year Treasury Yield
+37 bps
+32 bps
“…the Committee needs to see more evidence to build our confidence that inflation is moving down sustainably toward our 2 percent goal, and we don’t expect that it will be appropriate to begin to reduce rates until we’re more confident that that is the case”
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 66 of 624 6 Fed’s Updated “Dot Plot” Shows
Little Change in 2024 Expectation
Source: Federal Reserve. Individual dots represent each Fed members’ judgement of the midpoint of the appropriate target range for the federal funds rate at each year-end. © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
0%1%2%3%4%5%6%
Fed Participants’ Assessments of ‘Appropriate’ Monetary Policy Mar-24 FOMC ProjectionsMar-24 MedianDec-23 Median
2024 2025 2026 Longer Term
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 67 of 624 7 Summary of Economic Projections Show Stronger Economic Story © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
Source: Federal Reserve, latest economic projections as of March 2024.
For the Quarter Ended March 31, 2024
Market Update
4.6%
3.9%
3.1%
2.6%
0%2%
4%6%8%
2024 2025 2026 Longer
Run
Federal Funds Rate
December Projections March Projections
2.6%
2.2% 2.0% 2.0%
0%1%
2%3%4%
2024 2025 2026 Longer
Run
PCE Inflation
December Projections March Projections
4.0% 4.1% 4.0% 4.1%
0%1%
2%3%4%5%6%
2024 2025 2026 Longer
Run
Unemployment Rate
December Projections March Projections
2.1% 2.0% 2.0% 1.8%
0%1%
2%3%4%
2024 2025 2026 Longer
Run
Change in Real GDP
December Projections March Projections
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 68 of 624
8 Treasury Yields Move Higher as Market Evolves to Revised Fed Expectations PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
Source: Bloomberg, as of 3/31/2024.
For the Quarter Ended March 31, 2024
Market Update
5.32%
5.02%
4.62%
4.41% 4.21% 4.21% 4.20% 4.34%
0.00%1.00%
2.00%3.00%4.00%5.00%6.00%
Yield
Maturity
U.S. Treasury Yield Curve
1 Year RangeMarch 31, 2024December 31, 2023
3mo 2yr 5yr 7yr 10yr 20yr 30yr
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 69 of 624
9 Sector Yield Spreads
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
Source: ICE BofA 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of March 31, 2024. 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 and represented by the ICE BofA Agency CMBS Index. -0.1%
0.1%0.3%0.5%0.7%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Federal Agency Yield Spreads
Bullet Callable
0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Corporate Notes A-AAA Yield Spreads
0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Mortgage-Backed Securities Yield Spreads
Agency MBS Agency CMBS Index
0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Asset-Backed Securities AAA Yield Spreads
For the Quarter Ended March 31, 2024
LOS ALTOS HILLS Market Update
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 70 of 624
10 Sector Yield Spreads
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
Source: ICE BofA 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of March 31, 2024. 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 and represented by the ICE BofA Agency CMBS Index.
For the Quarter Ended March 31, 2024
Market Update
-0.1%
0.0%0.1%0.2%
Dec-23 Jan-24 Feb-24 Mar-24
Federal Agency Yield Spreads
Bullet Callable 1 Year Average
0.3%0.5%0.7%0.9%
Dec-23 Jan-24 Feb-24 Mar-24
Corporate Notes A-AAA Yield Spreads
1-5 Yr. AAA-A Corp 1 Year Average
0.3%0.5%0.7%0.9%
Dec-23 Jan-24 Feb-24 Mar-24
Mortgage-Backed Securities Yield Spreads
Agency MBS Agency CMBS Index 1 Year Average
0.3%0.5%0.7%0.9%
Dec-23 Jan-24 Feb-24 Mar-24
Asset-Backed Securities AAA Yield Spreads
AAA ABS 1 Year Average
6 bps 76 bps
57 bps 78 bps
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 71 of 624
11 Fixed-Income Index Total Returns in 1Q 2024
1-5 Year Indices
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. As of March 31, 2024.
For the Quarter Ended March 31, 2024
Market Update
-0.02%
0.33%
1.01%
0.56%
0.83%
-0.5%
0.5%1.5%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
First Quarter 2024 Returns
2.42%
3.29%
4.92%
4.68%
5.93%
0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-Year Return
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 72 of 624
12 Factors to Consider for 6-12 Months
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
Monetary Policy:• Fed guidance implies a soft landing and 3 rate cuts for 2024. Market expectations have been volatile but recently converged to Fed projections. • Globally, central banks are nearing the start of
cutting cycles with the Swiss central bank being the first to cut.
Economic Growth:• U.S. resiliency continues as expectations for a soft-landing command center stage. Strength is led by consumers supported by a robust labor market. • Eurozone growth set to improve in 2024 H2.
Although Chinese growth targets seem
aspirational, emerging economies are expected to grow.
Inflation: • Inflation continued to moderate but has proven to be stickier than expected, predominantly in housing and other service sectors. • Further upside surprises in inflation indicators
may complicate the Fed’s path for monetary policy.
Financial Conditions:• Financial conditions continue to soften as the “Fed pivot” remains in play amid sustained strength in various economic indicators. • With interest rates elevated, we continue to
focus on identifying potential pockets of stress within financial markets.
Consumer Spending (U.S.): • Consumer confidence reached a multi-year high following strong wage growth, a resilient labor market, and slowly moderating inflation. • Hiring and wage growth have played a role in
boosting personal income, which combined with record U.S. household net worth, supported spending.
Labor Markets:• The labor market remains strong, but a few indicators are moderating from the extreme tightness of 2022. • No sign of weakness in typical economicallysensitive industries, like retail, leisure and hospitality, and construction.
Current outlook Outlook one quarter ago Negative Slightly Negative Neutral Slightly Positive Positive Statements and opinions expressed about the next 6-12 months were developed based on our independent research with information obtained from Bloomberg. The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC at the time of distribution (3/31/2024) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management LLC cannot guarantee its accuracy, completeness, or suitability.
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 73 of 624
13 Fixed-Income Sector Commentary – 1Q 2024
▸ U.S. Treasuries markets spent the quarter adjusting its expectations as strong economic data and Fed commentary pushed back on the notion that a rate cut was imminent. Yields reflected the repricing and are higher by over 30 basis points for maturities greater than a year. ▸ Federal Agency, Municipal, and Supranational yield
spreads remained low and range bound. These sectors eked out positive excess returns, mostly from their modest incremental income. Callable agencies outperformed bullet agencies, as bond market volatility generally waned from recent multi-year highs. ▸ Investment-Grade (IG) Corporates produced strong
excess returns on robust market demand and continued spread tightening in the sector. IG corporates finished the quarter at their tightest spread levels in over two years. Lower rated issues performed best. With spreads near historical tights, some caution in the sector is warranted. ▸ Asset-Backed Securities were the strongestperforming fixed income sector. The rally in the sector was led by ongoing optimism regarding the strength of the American consumer and, like IG corporates, robust appetite for investment opportunities in the sector. Incremental income from ABS remains attractive and our fundamental outlook for the economy is supportive for the sector. ▸ Mortgage-Backed Securities performance was mixed
with spreads widening in longer maturity structures. Volatility was relativity muted compared to Q4 and helped bolster returns in the sector. Agency commercial mortgage-backed security spreads tightened more aggressively relative to pass-throughs, resulting in strong relative performance. ▸ Short-term credit (commercial paper and negotiable
bank CDs) yield spreads continued to tighten over the quarter while the credit curve has steepened. Shorterterm maturities are less attractive and we prefer issues with maturities between 6 and 12 months.
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
For the Quarter Ended March 31, 2024
LOS ALTOS HILLS Market Update
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 74 of 624
14 Negative Slightly Negative Neutral Slightly Positive Current outlook Outlook one quarter ago Positive © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update
CLIENT NAME
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
For the Quarter Ended March 31, 2024
Market Update
Fixed-Income Sector Outlook – 2Q 2024
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com | Page 75 of 624
15 © PFM Asset Management LLC pfmam.com |
Account Summary
© PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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 March 31, 2024CAMP Managed Account $21,358,682 CAMP Pool $4,624
Amortized Cost $21,955,346
Market Value $21,358,682
Accrued Interest $102,899
Cash $0
Analytics¹ March 31, 2024
4.74%3.23%
2.60 Yield at Market
Yield on Cost
Portfolio DurationCAMP Pool 7-Day Yield2 5.48%
16 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Account Summary
|
0.0%
27.4%
1.9%
4.3%
16.0%
5.0%
45.3%
0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
Joint Powers Authority - $4,624
Corporate - $5,887,070
Negotiable CD - $407,796
Municipal - $918,879
Agency CMBS - $3,444,853
Federal Agency - $1,080,627
U.S. Treasury - $9,722,356
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 March 31, 2024
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 March 31, 2024, 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 March 31, 2024
Portfolio Snapshot
|
Total market value includes accrued interest and balances invested in CAMP, as of March 31, 2024.Yield and duration calculations exclude balances invested in CAMP.The portfolio’s benchmark is currently the ICE BofA 1-5 Year U.S Treasury Index. Prior to 9/30/19 it was the ICE BofA 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
7%
25%
31%
25%
12%
5%
34%
27%
22%
12%
0%5%
10%15%20%25%30%35%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 45%Corporate | 27%
Agency CMBS | 16%
Federal Agency | 5%Municipal | 4%Negotiable CD | 2%Joint Powers Authority | <1% Sector Allocation
AAA | 1%AAAm | <1%AA+ | 67%AA | 3%AA- | 5%A+ | 6%A | 6%A- | 8% BBB+ | 3%Not Rated | 1%
Portfolio Statistics
Portfolio Effective Duration 2.60 years
Benchmark Effective Duration 2.52 yearsPortfolio Credit Quality AA Yield At Market 4.74%
Yield At Cost 3.23%
Total Market Value $21,466,204.40
Managed Account Sub-Total $21,358,682.07Pool $4,623.67
Accrued Interest $102,898.66
19 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Characteristics
|
$0.0$4.4$8.8
$13.2$17.6$22.0
Millions
March 2024
$0.0$4.4$8.8
$13.2$17.6$22.0
Millions
December 2023
$0.0$4.4$8.8
$13.2$17.6$22.0
Millions
September 2023
$0.0$4.4$8.8
$13.2$17.6$22.0
Millions
June 2023
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 Jun-23 % of Total Sep-23 % of Total Dec-23 % of Total Mar-24 % of Total U.S. Treasury $11.3 54.9% $9.0 43.5% $9.4 43.9% $9.7 45.2%Federal Agency $1.0 5.1% $1.1 5.1% $1.1 5.1% $1.1 5.1% Agency CMBS $1.3 6.2% $3.1 15.0% $3.8 17.7% $3.4 16.1%
Supranational $0.4 1.9% $0.4 1.9% $0.2 0.7% $0.0 0.0%Municipal $1.4 6.7% $1.2 5.8% $1.0 4.7% $0.9 4.3%Negotiable CD $0.0 0.0% $0.4 1.9% $0.4 1.9% $0.4 1.9%Corporate $5.1 24.9% $5.3 25.7% $5.5 25.9% $5.8 27.4%Joint Powers Authority $0.1 0.3% $0.2 1.1% $0.0 0.1% $0.0 0.0%Total $20.6 100.0% $20.7 100.0% $21.3 100.0% $21.4 100.0%
20 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Portfolio Activity - CAMP-TOWN OF LOS ALTOS HILLS
Net Activity by Sector
($ millions)
Agency CMBS
SupranationalMunicipal
Corporate
U.S. Treasury
Agency CMBS
Supranational
Municipal
Corporate
U.S. Treasury
($1.5) ($1.0) ($0.5) $0.0 $0.5 $1.0 $1.5 $2.0
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 $353,442Corporate $344,876Municipal ($99,358)Supranational ($156,276) Agency CMBS ($306,590)
Total Net Activity $136,094
Sales/Maturities Purchases
21 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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 BofA 1-5 Year U.S Treasury Index. Prior to 9/30/19 it was the ICE BofA 1-3 Year U.S Treasury Index. Source: Bloomberg. -1.0%
0.0%1.0%2.0%3.0%4.0%
Return
Portfolio Benchmark Net of Fees
Portfolio Performance
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 Years1Interest Earned² $129,530 $451,509 $1,054,014 $1,737,723 $2,642,063 Change in Market Value ($98,671) $221,343 ($1,217,484) ($818,354) ($989,552) Total Dollar Return $30,859 $672,852 ($163,470) $919,369 $1,652,511 Total Return³
Portfolio 0.14% 3.23% -0.22% 1.21% 1.16%Benchmark⁴ -0.02% 2.42% -0.59% 0.85% 0.91%Basis Point Fee 0.02% 0.10% 0.10% 0.10% 0.10%Net of Fee Return 0.12% 3.13% -0.32% 1.11% 1.06% 3 Months 1 Year 3 Years 5 Years 10 Years
22 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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
$129,530
($52,825)
$39,060
$115,766
1 Year
$451,509
($306,359)
$117,478$262,628
3 Years
$1,054,014
($409,229)
$10,919
$655,704
5 Year
$1,737,723
($130,797)
($56,500)
$1,550,427
10 Year¹
$2,642,063
($199,419)
($187,660)
$2,254,984
23 © PFM Asset Management LLC pfmam.com |
Portfolio Holdings and Transactions
© PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio 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 45.3% UNITED STATES TREASURY 45.3% AA / Aaa / AA
Federal Agency 5.0%
FANNIE MAE 3.1% AA / Aaa / AAFEDERAL HOME LOAN BANKS 0.6% AA / Aaa / NRFREDDIE MAC 1.4% AA / Aaa / AA Agency CMBS 16.1%
FANNIE MAE 0.9% AA / Aaa / AAFREDDIE MAC 15.1% AA / Aaa / AA Municipal 4.3%
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% NR / NR / AASAN RAMON VALLEY UNIFIED SCHOOLDISTRICT
0.3% AA / Aa / NR
STATE OF CONNECTICUT 0.5% AA / Aa / AASTATE OF MINNESOTA 0.2% AAA / Aaa / AAASTATE OF MISSISSIPPI 0.1% AA / Aa / AASTATE OF WISCONSIN 0.6% AAA / NR / AA Negotiable CD 1.9%
NATIXIS NY BRANCH 0.7% A / A / A
RABOBANK NEDERLAND 1.2% A / Aa / AA
Corporate 27.4%
AMAZON.COM INC 0.7% AA / A / AAAMERICAN EXPRESS CO 0.9% BBB / A / A Security Type / Issuer Market Value (%) S&P / Moody's / FitchCorporate 27.4% AMERICAN HONDA FINANCE 0.8% A / A / AANALOG DEVICES INC 0.6% A / A / AASTRAZENECA PLC 0.5% A / A / AAUTOMATIC DATA PROCESSING INC 1.0% AA / Aa / AA BANK OF AMERICA CO 1.4% A / Aa / AABLACKROCK INC 1.1% AA / Aa / NRBRISTOL-MYERS SQUIBB CO 0.6% A / A / NRCATERPILLAR INC 0.9% A / A / ACISCO SYSTEMS INC 0.5% AA / A / NRCITIGROUP INC 0.1% BBB / A / ACOMCAST CORP 0.5% A / A / ADEERE & COMPANY 0.6% A / A / AGOLDMAN SACHS GROUP INC 1.4% BBB / A / AHERSHEY COMPANY 0.2% A / A / NRHOME DEPOT INC 0.4% A / A / AHONEYWELL INTERNATIONAL 0.4% A / A / AIBM CORP 0.7% A / A / AINTEL CORPORATION 0.7% A / A / AJP MORGAN CHASE & CO 0.9% A / A / AA LOCKHEED MARTIN CORP 0.3% A / A / AMERCK & CO INC 0.3% A / A / NRMETA PLATFORMS INC 0.5% AA / A / NRMORGAN STANLEY 0.7% A / A / ANATIONAL AUSTRALIA BANK LTD 1.2% AA / Aa / NR
NATIONAL RURAL UTILITIES CO FINANCECORP
0.7% A / A / A
NORTHERN TRUST 0.5% A / A / A
24 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio 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 27.4% PACCAR FINANCIAL CORP 0.5% A / A / NRPNC FINANCIAL SERVICES GROUP 1.1% A / A / ASTATE STREET CORPORATION 1.1% A / A / AATARGET CORP 0.6% A / A / ATEXAS INSTRUMENTS INC 0.6% A / Aa / NR
THE BANK OF NEW YORK MELLONCORPORATION
0.4% 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 1.1% AA / Aa / AAWELLS FARGO & COMPANY 0.8% BBB / A / A Total 100.0%
25 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Composition
|
Issuer Distribution
As of March 31, 2024
Issuer Market Value ($) % of PortfolioUNITED STATES TREASURY 9,684,286 45.32 %FREDDIE MAC 3,533,035 16.54 %FANNIE MAE 850,833 3.98 %BANK OF AMERICA CO 302,849 1.42 %GOLDMAN SACHS GROUP INC 289,191 1.35 %FLORIDA STATE BOARD OF ADMIN FIN CORP 276,498 1.29 %NATIONAL AUSTRALIA BANK LTD 249,435 1.17 %RABOBANK NEDERLAND 248,462 1.16 %STATE STREET CORPORATION 240,682 1.13 %PNC FINANCIAL SERVICES GROUP 240,667 1.13 %BLACKROCK INC 240,134 1.12 %WAL-MART STORES INC 235,109 1.10 % AUTOMATIC DATA PROCESSING INC 223,451 1.05 %
JP MORGAN CHASE & CO 186,272 0.87 %
AMERICAN EXPRESS CO 183,135 0.86 %
CATERPILLAR INC 182,828 0.86 %
AMERICAN HONDA FINANCE 172,166 0.81 %
WELLS FARGO & COMPANY 160,608 0.75 %MORGAN STANLEY 159,850 0.75 %NATIONAL RURAL UTILITIES CO FINANCE CORP 159,164 0.75 %NEW YORK ST URBAN DEVELOPMENT CORP 158,393 0.74 %TOYOTA MOTOR CORP 155,305 0.73 %INTEL CORPORATION 154,564 0.72 %NATIXIS NY BRANCH 152,189 0.71 %
26 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Composition
|
Issuer Market Value ($) % of Portfolio
AMAZON.COM INC 149,648 0.70 %
IBM CORP 148,492 0.70 %TRUIST FIN CORP 147,722 0.69 %UNITEDHEALTH GROUP INC 145,100 0.68 %DEERE & COMPANY 134,947 0.63 % ANALOG DEVICES INC 131,397 0.62 %
FEDERAL HOME LOAN BANKS 128,832 0.60 %BRISTOL-MYERS SQUIBB CO 121,191 0.57 %TARGET CORP 120,641 0.56 %TEXAS INSTRUMENTS INC 119,764 0.56 %STATE OF WISCONSIN 118,547 0.55 %COMCAST CORP 116,796 0.55 % ASTRAZENECA PLC 115,380 0.54 %
STATE OF CONNECTICUT 113,066 0.53 %CISCO SYSTEMS INC 110,616 0.52 %PACCAR FINANCIAL CORP 100,722 0.47 %META PLATFORMS INC 99,787 0.47 %NORTHERN TRUST 97,358 0.46 %THE BANK OF NEW YORK MELLON CORPORATION 92,544 0.43 %HONEYWELL INTERNATIONAL 90,314 0.42 %HOME DEPOT INC 84,211 0.39 %SAN RAMON VALLEY UNIFIED SCHOOL DISTRICT 66,306 0.31 %LOS ANGELES COMMUNITY COLLEGE DISTRICT 66,226 0.31 %LOCKHEED MARTIN CORP 59,317 0.28 %MERCK & CO INC 58,846 0.28 %STATE OF MINNESOTA 51,974 0.24 %LOS ANGELES UNIFIED SCHOOL DISTRICT 46,574 0.22 %
27 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Composition
|
Issuer Market Value ($) % of PortfolioHERSHEY COMPANY 39,542 0.19 %CITIGROUP INC 24,240 0.11 %STATE OF MISSISSIPPI 19,477 0.09 %CAMP POOL 4,624 0.02 % Grand Total 21,363,306 100.00 %
28 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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 10/31/2017 2.250% 10/31/2024
9128283D0 10,000.00 AA+ Aaa 11/1/2019 11/6/2019 10,328.51 1.56 94.57 10,038.43 9,829.69 US TREASURY NOTESDTD 01/31/2018 2.500% 01/31/2025
9128283V0 130,000.00 AA+ Aaa 2/3/2020 2/5/2020 137,104.30 1.36 544.64 131,189.25 127,237.50 US TREASURY NOTESDTD 01/31/2020 1.375% 01/31/2025
912828Z52 180,000.00 AA+ Aaa 1/30/2023 1/31/2023 170,121.09 4.27 414.77 175,878.16 174,543.75 US TREASURY NOTESDTD 02/15/2022 1.500% 02/15/2025
91282CDZ1 120,000.00 AA+ Aaa 4/1/2022 4/5/2022 116,254.69 2.64 227.47 118,855.30 116,287.50 US TREASURY NOTESDTD 02/15/2022 1.500% 02/15/2025
91282CDZ1 275,000.00 AA+ Aaa 2/11/2022 2/15/2022 272,873.05 1.77 521.29 274,378.99 266,492.19 US TREASURY 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 2,085.17 199,721.48 195,156.24 US TREASURY NOTESDTD 05/15/2022 2.750% 05/15/2025
91282CEQ0 25,000.00 AA+ Aaa 9/18/2023 9/19/2023 24,036.13 5.21 260.65 24,347.31 24,394.53 US TREASURY NOTESDTD 05/15/2022 2.750% 05/15/2025
91282CEQ0 125,000.00 AA+ Aaa 1/3/2023 1/5/2023 120,668.95 4.31 1,303.23 122,942.63 121,972.65 US TREASURY NOTESDTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 340,000.00 AA+ Aaa 9/1/2022 9/6/2022 308,603.12 3.54 73.91 325,108.09 318,750.00 US TREASURY NOTESDTD 09/30/2023 5.000% 09/30/2025
91282CJB8 200,000.00 AA+ Aaa 3/26/2024 3/28/2024 200,593.75 4.79 27.32 200,589.60 200,468.76 US TREASURY NOTESDTD 09/30/2023 5.000% 09/30/2025
91282CJB8 100,000.00 AA+ Aaa 11/30/2023 12/7/2023 100,464.84 4.73 13.66 100,386.45 100,234.38 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 0.67 630.50 596,069.35 558,750.00 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 0.82 194.40 183,380.62 172,281.25 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 0.42 175.34 184,858.35 171,587.50 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 0.73 341.21 357,805.08 333,900.00
29 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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 01/31/2021 0.375% 01/31/2026
91282CBH3 315,000.00 AA+ Aaa 7/2/2021 7/7/2021 308,946.09 0.80 197.96 312,569.73 291,227.33 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 53.42 84,389.47 78,585.15 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 0.69 122.55 193,900.73 180,283.58 US TREASURY N/B NOTESDTD 02/29/2024 4.625% 02/28/2026
91282CKB6 150,000.00 AA+ Aaa 3/4/2024 3/5/2024 150,105.47 4.59 603.26 150,101.74 149,882.82 US TREASURY 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 1,436.68 565,109.17 525,112.50 US TREASURY NOTESDTD 05/31/2021 0.750% 05/31/2026
91282CCF6 350,000.00 AA+ Aaa 2/15/2022 2/17/2022 332,691.41 1.96 882.17 341,257.17 322,437.50 US TREASURY NOTESDTD 06/30/2021 0.875% 06/30/2026
91282CCJ8 300,000.00 AA+ Aaa 8/2/2021 8/4/2021 303,046.88 0.66 663.46 301,395.00 276,609.36 US TREASURY NOTESDTD 07/15/2023 4.500% 07/15/2026
91282CHM6 200,000.00 AA+ Aaa 2/1/2024 2/5/2024 202,234.38 4.01 1,903.85 202,093.95 199,687.50 US TREASURY NOTESDTD 08/31/2021 0.750% 08/31/2026
91282CCW9 175,000.00 AA+ Aaa 9/8/2021 9/9/2021 174,555.66 0.80 114.13 174,784.31 159,960.94 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 1,366.07 201,903.88 186,125.00 US TREASURY NOTESDTD 11/30/2021 1.250% 11/30/2026
91282CDK4 150,000.00 AA+ Aaa 12/1/2021 12/3/2021 150,427.73 1.19 630.12 150,228.29 137,906.25 US TREASURY NOTESDTD 12/31/2021 1.250% 12/31/2026
91282CDQ1 235,000.00 AA+ Aaa 1/3/2022 1/5/2022 233,898.44 1.35 742.45 234,392.66 215,722.67 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 2.85 412.29 142,681.57 136,481.25 US TREASURY NOTESDTD 02/15/2017 2.250% 02/15/2027
912828V98 155,000.00 AA+ Aaa 8/1/2022 8/5/2022 151,833.40 2.73 440.73 152,990.98 145,893.75 US TREASURY NOTESDTD 02/29/2020 1.125% 02/28/2027
912828ZB9 175,000.00 AA+ Aaa 9/6/2023 9/8/2023 155,572.27 4.62 171.20 158,726.02 159,304.69 US TREASURY NOTESDTD 07/31/2022 2.750% 07/31/2027
91282CFB2 215,000.00 AA+ Aaa 1/2/2024 1/5/2024 205,988.48 4.02 990.83 206,590.17 204,182.81 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 1,023.63 343,265.42 336,093.77
30 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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 08/15/2017 2.250% 08/15/2027
9128282R0 300,000.00 AA+ Aaa 11/1/2022 11/4/2022 274,312.50 4.25 853.02 281,878.90 280,078.14 US TREASURY NOTESDTD 09/30/2020 0.375% 09/30/2027
91282CAL5 200,000.00 AA+ Aaa 2/1/2024 2/5/2024 176,578.13 3.84 2.05 177,562.09 174,375.00 US TREASURY NOTESDTD 10/31/2020 0.500% 10/31/2027
91282CAU5 200,000.00 AA+ Aaa 1/3/2023 1/5/2023 169,828.13 3.97 420.33 177,576.81 174,687.50 US TREASURY NOTESDTD 11/15/2017 2.250% 11/15/2027
9128283F5 500,000.00 AA+ Aaa 1/30/2023 1/31/2023 468,417.97 3.70 4,265.11 476,110.33 465,000.00 US TREASURY NOTESDTD 12/31/2022 3.875% 12/31/2027
91282CGC9 120,000.00 AA+ Aaa 4/24/2023 4/26/2023 121,289.06 3.62 1,175.27 121,032.00 118,087.50 US TREASURY NOTESDTD 04/30/2021 1.250% 04/30/2028
91282CBZ3 50,000.00 AA+ Aaa 6/1/2023 6/5/2023 44,421.88 3.76 262.71 45,359.35 44,328.13 US TREASURY NOTESDTD 06/30/2021 1.250% 06/30/2028
91282CCH2 800,000.00 AA+ Aaa 11/3/2023 11/6/2023 691,343.75 4.52 2,527.47 700,750.39 706,375.04 US TREASURY NOTESDTD 10/31/2021 1.375% 10/31/2028
91282CDF5 250,000.00 AA+ Aaa 1/2/2024 1/5/2024 222,041.02 3.95 1,444.88 223,422.30 220,234.38 US TREASURY NOTESDTD 10/31/2021 1.375% 10/31/2028
91282CDF5 270,000.00 AA+ Aaa 2/29/2024 3/5/2024 237,304.69 4.27 1,560.48 237,823.66 237,853.12 US TREASURY NOTESDTD 11/15/2018 3.125% 11/15/2028
9128285M8 200,000.00 AA+ Aaa 12/4/2023 12/7/2023 190,031.25 4.25 2,369.50 190,671.90 190,468.76 US TREASURY NOTESDTD 11/15/2018 3.125% 11/15/2028
9128285M8 240,000.00 AA+ Aaa 12/5/2023 12/6/2023 228,628.13 4.20 2,843.40 229,364.85 228,562.51 US TREASURY NOTESDTD 11/15/2018 3.125% 11/15/2028
9128285M8 100,000.00 AA+ Aaa 3/26/2024 3/28/2024 95,179.69 4.28 1,184.75 95,191.08 95,234.38 US TREASURY NOTESDTD 01/31/2022 1.750% 01/31/2029
91282CDW8 170,000.00 AA+ Aaa 2/1/2024 2/5/2024 154,401.17 3.79 498.56 154,880.61 151,618.75 Security Type Sub-Total 10,410,000.00 9,929,438.71 2.76 38,070.46 10,033,553.62 9,684,286.02 Negotiable CD
COOPERAT RABOBANK UA/NY CERTDEPOSDTD 07/20/2023 5.080% 07/17/2026 21684LGS5 250,000.00 A+ Aa2 7/17/2023 7/20/2023 250,000.00 5.08 2,610.56 250,000.00 248,462.00
31 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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
NATIXIS NY BRANCH CERT DEPOSDTD 09/20/2023 5.610% 09/18/2026 63873QP65 150,000.00 A A1 9/18/2023 9/20/2023 150,000.00 5.61 4,534.75 150,000.00 152,188.50 Security Type Sub-Total 400,000.00 400,000.00 5.28 7,145.31 400,000.00 400,650.50 Municipal
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 0.62 187.20 120,000.00 118,546.80 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 47.08 20,000.00 19,477.40 NY ST URBAN DEV CORP TXBL REVBONDSDTD 12/23/2020 0.870% 03/15/2025 650036DT0 165,000.00 NR NR 12/16/2020 12/23/2020 165,000.00 0.87 63.80 165,000.00 158,393.40 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 1.12 235.88 75,129.64 71,508.00 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 1.26 487.48 155,000.00 147,783.20 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 1.11 188.70 60,110.60 57,206.40 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 57.75 55,000.00 51,974.45 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 86.33 70,000.00 66,306.10 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 90.18 70,000.00 66,226.30 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 0.83 191.31 119,781.49 113,065.70
32 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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
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 1.46 181.88 50,000.00 46,573.50 Security Type Sub-Total 955,000.00 971,748.90 0.92 1,817.59 960,021.73 917,061.25 Joint Powers Authority
CAMP Pool 4,623.67 AAAm NR 4,623.67 0.00 4,623.67 4,623.67 Security Type Sub-Total 4,623.67 4,623.67 0.00 4,623.67 4,623.67 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 0.60 313.13 134,861.23 128,831.85 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 72.92 99,870.04 94,256.80 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 93.75 249,785.80 234,671.00 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 17.92 214,808.41 201,343.20 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 0.57 180.00 89,896.49 84,025.35 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 0.51 720.00 359,947.32 336,101.40 Security Type Sub-Total 1,150,000.00 1,146,938.55 0.49 1,397.72 1,149,169.29 1,079,229.60 Corporate
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 1,145.83 124,995.15 122,514.88 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 3.46 355.54 34,996.35 34,266.40
33 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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
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 1.16 388.00 75,000.00 72,992.85 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 92.31 25,000.00 24,240.08 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 0.81 145.47 125,055.52 119,519.88 JP MORGAN CORP (CALLABLE)NOTESDTD 03/23/2016 3.300% 04/01/2026 46625HQW3 105,000.00 A- A1 7/19/2023 7/21/2023 100,150.05 5.16 1,732.50 101,405.62 101,682.63
ASTRAZENECA FINANCE LLC
(CALLABLE) CORPDTD 05/28/2021 1.200% 05/28/2026
04636NAA1 125,000.00 A A2 7/15/2021 7/19/2021 125,132.50 1.18 512.50 125,057.51 115,379.88 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 1.17 241.41 74,922.64 68,978.63 STATE STREET CORP NOTES(CALLABLE)DTD 08/03/2023 5.272% 08/03/2026 857477CD3 65,000.00 A A1 8/1/2023 8/3/2023 65,023.40 5.26 552.10 65,018.23 65,214.04 STATE STREET CORP NOTES(CALLABLE)DTD 08/03/2023 5.272% 08/03/2026 857477CD3 85,000.00 A A1 7/31/2023 8/3/2023 85,000.00 5.27 721.97 85,000.00 85,279.91 BANK OF AMERICA NA CORPORATENOTESDTD 08/18/2023 5.526% 08/18/2026 06428CAA2 300,000.00 A+ Aa1 8/14/2023 8/18/2023 300,000.00 5.53 1,980.15 300,000.00 302,848.50
AMERICAN HONDA FINANCE
CORPORATE NOTESDTD 09/09/2021 1.300% 09/09/2026
02665WDZ1 100,000.00 A- A3 11/29/2021 12/1/2021 98,522.00 1.62 79.44 99,244.46 91,492.70 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 1.48 108.61 198,450.97 182,828.40 HOME DEPOT INC CORP (CALLABLE)NOTESDTD 09/15/2016 2.125% 09/15/2026 437076BN1 90,000.00 A A2 8/18/2023 8/22/2023 82,573.20 5.07 85.00 84,051.93 84,210.75
34 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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
WELLS FARGO & COMPANYCORPORATE NOTESDTD 10/25/2016 3.000% 10/23/2026 949746SH5 170,000.00 BBB+ A1 7/14/2023 7/18/2023 158,934.70 5.19 2,238.33 161,327.70 160,608.35
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 1,347.50 199,756.80 183,135.40 JOHN DEERE CAPITAL CORPCORPORATE NOTESDTD 01/10/2022 1.700% 01/11/2027 24422EWA3 125,000.00 A A1 1/11/2022 1/13/2022 124,295.00 1.82 472.22 124,607.69 114,826.88 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 1.99 123.50 29,971.40 27,840.33 COMCAST CORP CORP NOTES(CALLABLE)DTD 07/19/2016 2.350% 01/15/2027 20030NBW0 125,000.00 A- A3 4/24/2023 4/26/2023 116,687.50 4.30 620.14 118,771.74 116,795.63 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 1.90 411.67 100,121.22 92,801.10 MORGAN STANLEYDTD 01/20/2017 3.625% 01/20/2027
61746BEF9 90,000.00 A- A1 7/14/2023 7/18/2023 85,723.20 5.12 643.44 86,583.90 86,857.11 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 2.02 370.14 100,067.42 92,544.30 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 1,216.49 171,889.74 169,670.90 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 2.47 508.44 158,861.17 148,491.68 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 91.67 90,313.90 97,274.67 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 2.57 163.30 154,326.26 147,722.24
35 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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
STATE STREET CORP NOTE(CALLABLE)DTD 03/18/2024 4.993% 03/18/2027 857477CL5 90,000.00 A NR 3/13/2024 3/18/2024 90,000.00 4.99 162.27 90,000.00 90,187.83 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 1,566.67 100,594.46 97,358.10 UNITEDHEALTH GROUP INC CORPNOTES (CALLADTD 05/20/2022 3.700% 05/15/2027 91324PEG3 120,000.00 A+ A2 6/2/2022 6/6/2022 120,979.20 3.52 1,677.34 120,612.14 116,079.72 UNITEDHEALTH GROUP INC CORPNOTES (CALLADTD 05/20/2022 3.700% 05/15/2027 91324PEG3 30,000.00 A+ A2 5/17/2022 5/20/2022 29,983.80 3.71 419.33 29,989.87 29,019.93 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 1,443.75 123,459.08 118,152.00 INTEL CORP NOTES (CALLABLE)DTD 08/05/2022 3.750% 08/05/2027 458140BY5 160,000.00 A- A3 8/10/2022 8/12/2022 160,193.60 3.72 933.33 160,128.85 154,563.68 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 3.91 398.29 165,182.93 161,709.74 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 2,275.00 150,427.80 149,647.65 JPMORGAN CHASE & COCORPORATE NOTES (CALDTD 01/23/2024 5.040% 01/23/2028 46647PEA0 85,000.00 A- A1 1/16/2024 1/23/2024 85,000.00 5.04 809.20 85,000.00 84,589.20 BRISTOL-MYERS SQUIBB CO CORPNOTES (CALLDTD 07/15/2020 3.900% 02/20/2028 110122DE5 125,000.00 A A2 3/14/2023 3/17/2023 121,061.25 4.62 555.21 121,894.49 121,191.13 NATIONAL RURAL UTIL COOP CORPNOTES (CALDTD 12/16/2022 4.800% 03/15/2028 63743HFG2 125,000.00 A- A2 5/25/2023 5/30/2023 124,590.00 4.88 266.67 124,661.88 124,897.25 WALMART INC CORPORATE NOTES(CALLABLE)DTD 04/18/2023 3.900% 04/15/2028 931142FB4 75,000.00 AA Aa2 4/12/2023 4/18/2023 74,862.00 3.94 1,348.75 74,888.40 73,398.98
36 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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
HERSHEY COMPANY CORP NOTESCALLABLEDTD 05/04/2023 4.250% 05/04/2028 427866BH0 40,000.00 A A1 5/1/2023 5/4/2023 39,942.80 4.28 694.17 39,953.23 39,542.16 LOCKHEED MARTIN CORP NOTES(CALLABLE)DTD 05/25/2023 4.450% 05/15/2028 539830BZ1 45,000.00 A- A2 6/2/2023 6/6/2023 44,838.00 4.53 756.50 44,864.93 44,488.08
AUTOMATIC DATA PROCESSNG CORP
NOTES (CALDTD 05/14/2021 1.700% 05/15/2028
053015AG8 250,000.00 AA- Aa3 5/25/2023 5/30/2023 220,097.50 4.41 1,605.56 225,163.76 223,451.25 META PLATFORMS INC COPR NOTES(CALLABLE)DTD 05/03/2023 4.600% 05/15/2028 30303M8L9 100,000.00 AA- A1 6/1/2023 6/5/2023 100,150.00 4.56 1,737.78 100,124.58 99,787.20 LOCKHEED MARTIN CORP NOTES(CALLABLE)DTD 05/25/2023 4.450% 05/15/2028 539830BZ1 15,000.00 A- A2 5/23/2023 5/25/2023 14,973.00 4.49 252.17 14,977.64 14,829.36 MERCK & CO INC CORP NOTESCALLABLEDTD 05/17/2023 4.050% 05/17/2028 58933YBH7 60,000.00 A+ A1 5/8/2023 5/17/2023 59,951.40 4.07 904.50 59,959.91 58,846.32 NATIONAL AUSTRALIA BK/NYCORPORATE NOTESDTD 06/13/2023 4.900% 06/13/2028 63253QAE4 250,000.00 AA- Aa2 6/6/2023 6/13/2023 249,572.50 4.94 3,675.00 249,641.06 249,434.50
AMERICAN HONDA FINANCE
CORPORATE NOTESDTD 07/07/2023 5.125% 07/07/2028
02665WEM9 80,000.00 A- A3 7/5/2023 7/7/2023 79,964.80 5.14 956.67 79,969.98 80,673.12 JOHN DEERE CAPITAL CORPCORPORATE NOTESDTD 07/14/2023 4.950% 07/14/2028 24422EXB0 20,000.00 A A1 7/11/2023 7/14/2023 19,970.20 4.98 211.75 19,974.47 20,119.62 PACCAR FINANCIAL CORPCORPORATE NOTESDTD 08/10/2023 4.950% 08/10/2028 69371RS64 100,000.00 A+ A1 8/3/2023 8/10/2023 99,842.00 4.99 701.25 99,862.32 100,722.10 TOYOTA MOTOR CREDIT CORPCORPORATE NOTESDTD 09/11/2023 5.250% 09/11/2028 89236TLB9 85,000.00 A+ A1 9/6/2023 9/11/2023 84,852.10 5.29 247.92 84,866.73 86,326.09
ANALOG DEVICES INC (CALLABLE)
CORPORATEDTD 10/05/2021 1.700% 10/01/2028
032654AU9 150,000.00 A- A2 10/30/2023 11/1/2023 125,841.00 5.48 1,275.00 127,885.64 131,397.15
37 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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
TEXAS INSTRUMENTS CORP NOTES(CALLABLE)DTD 02/08/2024 4.600% 02/08/2029 882508CG7 120,000.00 A+ Aa3 2/5/2024 2/8/2024 119,872.80 4.62 812.67 119,876.11 119,764.08 CISCO SYSTEMS INC CORPORATENOTES (CALLADTD 02/26/2024 4.850% 02/26/2029 17275RBR2 110,000.00 AA- A1 2/21/2024 2/26/2024 109,961.50 4.86 518.68 109,962.16 110,616.22 BLACKROCK FUNDING INCCORPORATE NOTES (CDTD 03/14/2024 4.700% 03/14/2029 09290DAA9 15,000.00 AA- Aa3 3/5/2024 3/14/2024 14,972.85 4.74 33.29 14,973.09 15,008.39 BLACKROCK FUNDING INCCORPORATE NOTES (CDTD 03/14/2024 4.700% 03/14/2029 09290DAA9 225,000.00 AA- Aa3 3/7/2024 3/14/2024 225,555.75 4.64 499.38 225,550.82 225,125.77 Security Type Sub-Total 6,080,000.00 5,959,040.05 3.83 43,085.77 5,986,204.42 5,843,983.97 Agency CMBS
FHLMC MULTIFAMILY STRUCTUREDPOOLDTD 11/01/2017 3.064% 08/01/2024 3137FBTA4 168,790.64 AA+ Aaa 5/25/2022 5/31/2022 169,014.81 3.00 430.98 168,825.13 167,125.78 FHMS K733 A2DTD 11/09/2018 3.750% 08/01/2025
3137FJXQ7 201,560.01 AA+ Aaa 8/10/2023 8/15/2023 195,974.79 5.24 629.88 197,766.42 197,748.14 FHMS K734 A2DTD 04/18/2019 3.208% 02/01/2026
3137FLN34 205,000.00 AA+ Aaa 8/11/2023 8/16/2023 196,127.34 5.08 548.03 198,384.94 199,055.47 FHMS K058 A2DTD 11/09/2016 2.653% 08/01/2026
3137BSP72 200,000.00 AA+ Aaa 4/12/2023 4/17/2023 190,898.44 4.14 442.17 193,548.64 190,379.33 FHMS K061 A2DTD 01/30/2017 3.347% 11/01/2026
3137BTUM1 138,967.96 AA+ Aaa 5/19/2023 5/24/2023 134,690.36 4.31 387.60 135,755.51 134,183.84 FHMS K063 A2DTD 03/01/2017 3.430% 01/01/2027
3137BVZ82 200,000.00 AA+ Aaa 5/19/2023 5/24/2023 193,945.31 4.34 571.67 195,383.18 193,281.36 FHMS K064 A2DTD 05/15/2017 3.224% 03/01/2027
3137BXQY1 225,000.00 AA+ Aaa 8/16/2023 8/18/2023 212,238.28 4.98 604.50 214,482.21 216,044.93 FHLMC MULTIFAMILY STRUCTURED PDTD 07/01/2017 3.243% 04/01/2027 3137F1G44 215,000.00 AA+ Aaa 6/8/2023 6/13/2023 206,022.07 4.44 581.04 207,917.27 206,291.46
38 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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 K743 A2DTD 06/30/2021 1.770% 05/01/2028
3137H14B9 230,000.00 AA+ Aaa 8/10/2023 8/15/2023 201,303.91 4.73 339.25 205,138.95 205,279.66 FHMS K505 A2DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 200,000.00 AA+ Aaa 7/13/2023 7/20/2023 201,997.60 4.59 803.17 201,709.98 200,582.15 FHMS KJ46 A1DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 159,285.26 AA+ Aaa 7/19/2023 7/27/2023 159,281.26 4.78 634.09 159,281.82 158,401.64 FNA 2023-M6 A2DTD 07/01/2023 4.190% 07/01/2028
3136BQDE6 200,000.00 AA+ Aaa 7/18/2023 7/31/2023 196,609.38 4.58 698.33 197,071.65 196,035.57 FHMS K508 A2DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 200,000.00 AA+ Aaa 10/11/2023 10/19/2023 195,612.80 5.26 790.00 195,981.41 200,022.45 FHMS K506 A2DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 210,000.00 AA+ Aaa 9/7/2023 9/14/2023 206,893.47 4.99 813.75 207,205.39 209,353.31 FHMS KJ47 A1DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 114,102.83 AA+ Aaa 9/19/2023 9/28/2023 114,102.26 5.27 501.29 114,102.32 115,511.01 FHMS K507 A2DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 200,000.00 AA+ Aaa 9/20/2023 9/28/2023 197,609.40 5.07 800.00 197,829.47 200,599.93 FHMS K509 A2DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 150,000.00 AA+ Aaa 10/25/2023 10/31/2023 145,217.55 5.60 606.25 145,582.98 150,726.06 FHMS K510 A2DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 75,000.00 AA+ Aaa 11/14/2023 11/21/2023 74,783.18 5.14 316.81 74,797.50 76,027.57 FHMS K511 A2DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 110,000.00 AA+ Aaa 11/28/2023 12/7/2023 109,683.97 4.93 445.50 109,702.56 110,623.10 FHMS K512 A2DTD 12/01/2023 5.000% 11/01/2028
3137HBCF9 105,000.00 AA+ Aaa 12/11/2023 12/21/2023 105,980.49 4.78 437.50 105,930.08 106,197.97 Security Type Sub-Total 3,507,706.70 3,407,986.67 4.75 11,381.81 3,426,397.41 3,433,470.73 Managed Account Sub Total 22,502,706.70 21,815,152.88 102,898.66 21,358,682.07Securities Sub TotalAccrued Interest $22,507,330.37 $21,819,776.55 $102,898.66 $21,363,305.74 $102,898.66
21,955,346.47
$21,959,970.14
3.23 3.23%
Total Investments $21,466,204.40
39 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY1/2/2024 1/5/2024 250,000.00 91282CDF5 US TREASURY NOTES 1.37% 10/31/2028 222,664.30 3.95%1/2/2024 1/5/2024 215,000.00 91282CFB2 US TREASURY NOTES 2.75% 7/31/2027 208,527.00 4.02%1/16/2024 1/23/2024 85,000.00 46647PEA0 JPMORGAN CHASE & CO CORPORATE NOTES (CAL 5.04% 1/23/2028 85,000.00 5.04%2/1/2024 2/5/2024 200,000.00 91282CAL5 US TREASURY NOTES 0.37% 9/30/2027 176,840.43 3.84%2/1/2024 2/5/2024 200,000.00 91282CHM6 US TREASURY NOTES 4.50% 7/15/2026 202,753.61 4.01%2/1/2024 2/5/2024 170,000.00 91282CDW8 US TREASURY NOTES 1.75% 1/31/2029 154,442.04 3.79%2/5/2024 2/8/2024 120,000.00 882508CG7 TEXAS INSTRUMENTS CORP NOTES (CALLABLE) 4.60% 2/8/2029 119,872.80 4.62%2/21/2024 2/26/2024 110,000.00 17275RBR2 CISCO SYSTEMS INC CORPORATE NOTES (CALLA 4.85% 2/26/2029 109,961.50 4.86%2/29/2024 3/5/2024 270,000.00 91282CDF5 US TREASURY NOTES 1.37% 10/31/2028 238,589.79 4.27%3/4/2024 3/5/2024 150,000.00 91282CKB6 US TREASURY N/B NOTES 4.62% 2/28/2026 150,199.73 4.59%3/5/2024 3/14/2024 15,000.00 09290DAA9 BLACKROCK FUNDING INC CORPORATE NOTES (C 4.70% 3/14/2029 14,972.85 4.74%3/7/2024 3/14/2024 225,000.00 09290DAA9 BLACKROCK FUNDING INC CORPORATE NOTES (C 4.70% 3/14/2029 225,555.75 4.64%3/13/2024 3/18/2024 90,000.00 857477CL5 STATE STREET CORP NOTE (CALLABLE) 4.99% 3/18/2027 90,000.00 4.99%3/26/2024 3/28/2024 100,000.00 9128285M8 US TREASURY NOTES 3.12% 11/15/2028 96,330.10 4.28%3/26/2024 3/28/2024 200,000.00 91282CJB8 US TREASURY NOTES 5.00% 9/30/2025 205,511.78 4.79% Total BUY 2,400,000.00 2,301,221.68 0.00
40 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/1/2024 1/1/2024 120,000.00 977123X60 WI DEPT OF TRANS TXBL REV BONDS 0.62% 7/1/2024 374.401/1/2024 1/1/2024 290,000.00 341271AD6 FL ST BOARD OF ADMIN TXBL REV BONDS 1.25% 7/1/2025 1,824.101/1/2024 1/1/2024 50,000.00 544647FC9 LOS ANGELES USD, CA TXBL GO BONDS 1.45% 7/1/2026 363.751/1/2024 1/25/2024 200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 803.171/1/2024 1/25/2024 200,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 698.331/1/2024 1/25/2024 200,000.00 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 442.171/1/2024 1/25/2024 210,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 813.751/1/2024 1/25/2024 114,562.98 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 503.311/1/2024 1/25/2024 200,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 800.001/1/2024 1/25/2024 213,593.70 3137FJXQ7 FHMS K733 A2 3.75% 8/1/2025 667.481/1/2024 1/25/2024 105,000.00 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 437.501/1/2024 1/25/2024 110,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 445.501/1/2024 1/25/2024 150,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 606.251/1/2024 1/25/2024 225,000.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 604.501/1/2024 1/25/2024 200,000.00 3137BVZ82 FHMS K063 A2 3.43% 1/1/2027 571.671/1/2024 1/25/2024 75,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 316.811/1/2024 1/25/2024 230,000.00 3137H14B9 FHMS K743 A2 1.77% 5/1/2028 339.25
41 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/1/2024 1/25/2024 118,273.55 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 301.791/1/2024 1/25/2024 150,000.00 3137BJP64 FHMS K046 A2 3.20% 3/1/2025 400.621/1/2024 1/25/2024 28,935.34 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 80.681/1/2024 1/25/2024 215,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 581.041/1/2024 1/25/2024 169,674.17 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 433.231/1/2024 1/25/2024 205,000.00 3137FLN34 FHMS K734 A2 3.20% 2/1/2026 548.031/1/2024 1/25/2024 139,790.74 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 389.901/1/2024 1/25/2024 200,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 790.001/1/2024 1/25/2024 159,569.09 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 635.221/7/2024 1/7/2024 80,000.00 02665WEM9 AMERICAN HONDA FINANCE CORPORATE NOTES 5.12% 7/7/2028 2,050.001/11/2024 1/11/2024 125,000.00 24422EWA3 JOHN DEERE CAPITAL CORP CORPORATE NOTES 1.70% 1/11/2027 1,062.501/14/2024 1/14/2024 20,000.00 24422EXB0 JOHN DEERE CAPITAL CORP CORPORATE NOTES 4.95% 7/14/2028 495.001/15/2024 1/15/2024 130,000.00 87612EBM7 TARGET CORP CORP NOTES (CALLABLE) 1.95% 1/15/2027 1,267.501/15/2024 1/15/2024 125,000.00 20030NBW0 COMCAST CORP CORP NOTES (CALLABLE) 2.35% 1/15/2027 1,468.751/17/2024 1/17/2024 250,000.00 21684LGS5 COOPERAT RABOBANK UA/NY CERT DEPOS 5.08% 7/17/2026 6,244.171/20/2024 1/20/2024 90,000.00 61746BEF9 MORGAN STANLEY 3.62% 1/20/2027 1,631.251/21/2024 1/21/2024 100,000.00 3137EAEU9 FREDDIE MAC NOTES 0.37% 7/21/2025 187.50
42 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/25/2024 1/25/2024 25,000.00 17327CAN3 CITIGROUP INC CORP NOTES (CALLABLE) 2.01% 1/25/2026 251.751/26/2024 1/26/2024 175,000.00 38141GWB6 GOLDMAN SACHS GROUP INC CORP NOTE (CALLA 3.85% 1/26/2027 3,368.751/26/2024 1/26/2024 100,000.00 06406RBA4 BANK OF NY MELLON CORP (CALLABLE) CORPOR 2.05% 1/26/2027 1,025.001/31/2024 1/31/2024 180,000.00 912828Z52 US TREASURY NOTES 1.37% 1/31/2025 1,237.501/31/2024 1/31/2024 240,000.00 9128283V0 US TREASURY NOTES 2.50% 1/31/2025 3,000.001/31/2024 1/31/2024 215,000.00 91282CFB2 US TREASURY NOTES 2.75% 7/31/2027 2,956.251/31/2024 1/31/2024 595,000.00 91282CBH3 US TREASURY NOTES 0.37% 1/31/2026 1,115.632/1/2024 2/1/2024 70,000.00 799408Z85 SAN RAMON VALLEY USD, CA TXBL GO BONDS 0.74% 8/1/2025 259.002/1/2024 2/1/2024 70,000.00 54438CYK2 LOS ANGELES CCD, CA TXBL GO BONDS 0.77% 8/1/2025 270.552/1/2024 2/1/2024 55,000.00 60412AVJ9 MN ST TXBL GO BONDS 0.63% 8/1/2025 173.252/1/2024 2/25/2024 200,000.00 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 442.172/1/2024 2/25/2024 150,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 606.252/1/2024 2/25/2024 200,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 800.002/1/2024 2/25/2024 110,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 445.502/1/2024 2/25/2024 225,000.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 604.502/1/2024 2/25/2024 230,000.00 3137H14B9 FHMS K743 A2 1.77% 5/1/2028 339.252/1/2024 2/25/2024 169,392.95 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 432.52
43 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/1/2024 2/25/2024 139,528.60 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 389.172/1/2024 2/25/2024 205,000.00 3137FLN34 FHMS K734 A2 3.20% 2/1/2026 548.032/1/2024 2/25/2024 118,078.27 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 301.302/1/2024 2/25/2024 210,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 813.752/1/2024 2/25/2024 213,486.01 3137FJXQ7 FHMS K733 A2 3.75% 8/1/2025 667.142/1/2024 2/25/2024 200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 803.172/1/2024 2/25/2024 75,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 316.812/1/2024 2/25/2024 159,486.94 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 634.892/1/2024 2/25/2024 150,000.00 3137BJP64 FHMS K046 A2 3.20% 3/1/2025 400.632/1/2024 2/25/2024 215,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 581.042/1/2024 2/25/2024 114,438.16 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 502.772/1/2024 2/25/2024 105,000.00 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 437.502/1/2024 2/25/2024 22,212.11 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 61.932/1/2024 2/25/2024 200,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 698.332/1/2024 2/25/2024 200,000.00 3137BVZ82 FHMS K063 A2 3.43% 1/1/2027 571.672/1/2024 2/25/2024 200,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 790.002/3/2024 2/3/2024 150,000.00 857477CD3 STATE STREET CORP NOTES (CALLABLE) 5.27% 8/3/2026 3,954.00
44 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/5/2024 2/5/2024 160,000.00 458140BY5 INTEL CORP NOTES (CALLABLE) 3.75% 8/5/2027 3,000.002/9/2024 2/9/2024 160,000.00 459200KM2 IBM CORP CORP NOTES (CALLABLE) 2.20% 2/9/2027 1,760.002/10/2024 2/10/2024 100,000.00 69371RS64 PACCAR FINANCIAL CORP CORPORATE NOTES 4.95% 8/10/2028 2,475.002/12/2024 2/12/2024 125,000.00 38141GXS8 GOLDMAN SACHS GROUP INC CORP NOTES (CALL 0.85% 2/12/2026 534.382/15/2024 2/15/2024 300,000.00 912828V98 US TREASURY NOTES 2.25% 2/15/2027 3,375.002/15/2024 2/15/2024 660,000.00 9128282R0 US TREASURY NOTES 2.25% 8/15/2027 7,425.002/15/2024 2/15/2024 395,000.00 91282CDZ1 US TREASURY NOTES 1.50% 2/15/2025 2,962.502/18/2024 2/18/2024 300,000.00 06428CAA2 BANK OF AMERICA NA CORPORATE NOTES 5.52% 8/18/2026 8,289.002/20/2024 2/20/2024 125,000.00 110122DE5 BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL 3.90% 2/20/2028 2,437.502/25/2024 2/25/2024 250,000.00 3135G05X7 FANNIE MAE NOTES 0.37% 8/25/2025 468.752/29/2024 2/29/2024 175,000.00 912828ZB9 US TREASURY NOTES 1.12% 2/28/2027 984.382/29/2024 2/29/2024 175,000.00 91282CCW9 US TREASURY NOTES 0.75% 8/31/2026 656.252/29/2024 2/29/2024 340,000.00 91282CAJ0 US TREASURY NOTES 0.25% 8/31/2025 425.003/1/2024 3/1/2024 100,000.00 438516CE4 HONEYWELL INTERNATIONAL (CALLABLE) CORP 1.10% 3/1/2027 550.003/1/2024 3/25/2024 205,000.00 3137FLN34 FHMS K734 A2 3.20% 2/1/2026 548.033/1/2024 3/25/2024 225,000.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 604.503/1/2024 3/25/2024 200,000.00 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 442.17
45 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/1/2024 3/25/2024 105,000.00 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 437.503/1/2024 3/25/2024 117,882.31 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 300.803/1/2024 3/25/2024 114,306.67 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 502.193/1/2024 3/25/2024 200,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 800.003/1/2024 3/25/2024 200,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 698.333/1/2024 3/25/2024 200,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 790.003/1/2024 3/25/2024 139,265.58 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 388.433/1/2024 3/25/2024 159,404.35 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 634.563/1/2024 3/25/2024 169,110.77 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 431.803/1/2024 3/25/2024 75,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 316.813/1/2024 3/25/2024 150,000.00 3137BJP64 FHMS K046 A2 3.20% 3/1/2025 400.633/1/2024 3/25/2024 110,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 445.503/1/2024 3/25/2024 210,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 813.753/1/2024 3/25/2024 200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 803.173/1/2024 3/25/2024 213,377.91 3137FJXQ7 FHMS K733 A2 3.75% 8/1/2025 724.573/1/2024 3/25/2024 200,000.00 3137BVZ82 FHMS K063 A2 3.43% 1/1/2027 571.673/1/2024 3/25/2024 150,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 606.25
46 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/1/2024 3/25/2024 230,000.00 3137H14B9 FHMS K743 A2 1.77% 5/1/2028 339.253/1/2024 3/25/2024 215,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 581.043/2/2024 3/2/2024 160,000.00 89788MAD4 TRUIST FINANCIAL CORP NOTES (CALLABLE) 1.26% 3/2/2027 1,013.603/9/2024 3/9/2024 165,000.00 931142EX7 WALMART INC CORP NOTES (CALLABLE) 3.95% 9/9/2027 3,258.753/9/2024 3/9/2024 100,000.00 02665WDZ1 AMERICAN HONDA FINANCE CORPORATE NOTES 1.30% 9/9/2026 650.003/11/2024 3/11/2024 85,000.00 89236TLB9 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES 5.25% 9/11/2028 2,231.253/14/2024 3/14/2024 200,000.00 14913R2Q9 CATERPILLAR FINL SERVICE CORPORATE NOTES 1.15% 9/14/2026 1,150.003/15/2024 3/15/2024 125,000.00 63743HFG2 NATIONAL RURAL UTIL COOP CORP NOTES (CAL 4.80% 3/15/2028 3,000.003/15/2024 3/15/2024 115,000.00 20772KEW5 CT ST TXBL GO BONDS 3.74% 9/15/2025 2,152.233/15/2024 3/15/2024 165,000.00 650036DT0 NY ST URBAN DEV CORP TXBL REV BONDS 0.87% 3/15/2025 717.753/15/2024 3/15/2024 90,000.00 437076BN1 HOME DEPOT INC CORP (CALLABLE) NOTES 2.12% 9/15/2026 956.253/23/2024 3/23/2024 215,000.00 3137EAEX3 FREDDIE MAC NOTES 0.37% 9/23/2025 403.133/31/2024 3/31/2024 300,000.00 91282CJB8 US TREASURY NOTES 5.00% 9/30/2025 7,500.003/31/2024 3/31/2024 200,000.00 91282CAL5 US TREASURY NOTES 0.37% 9/30/2027 375.00 Total INTEREST 19,959,370.20 129,910.79 0.00
MATURITY3/1/2024 3/1/2024 9,263.83 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 9,289.66
47 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
MATURITY3/18/2024 3/18/2024 50,000.00 808513BN4 CHARLES SCHWAB CORP NOTES (CALLABLE) 0.75% 3/18/2024 50,187.50 Total MATURITY 59,263.83 59,477.16 0.00
PAYDOWNS1/1/2024 1/25/2024 281.22 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 281.221/1/2024 1/25/2024 262.14 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 262.141/1/2024 1/25/2024 82.15 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 82.151/1/2024 1/25/2024 107.69 3137FJXQ7 FHMS K733 A2 3.75% 8/1/2025 107.691/1/2024 1/25/2024 195.28 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 195.281/1/2024 1/25/2024 6,723.23 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 6,723.231/1/2024 1/25/2024 124.82 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 124.822/1/2024 2/25/2024 82.59 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 82.592/1/2024 2/25/2024 195.96 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 195.962/1/2024 2/25/2024 282.18 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 282.182/1/2024 2/25/2024 108.10 3137FJXQ7 FHMS K733 A2 3.75% 8/1/2025 108.102/1/2024 2/25/2024 263.02 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 263.022/1/2024 2/25/2024 131.49 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 131.492/1/2024 2/25/2024 12,948.28 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 12,948.28
48 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS3/1/2024 3/25/2024 203.84 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 203.843/1/2024 3/25/2024 219.53 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 219.533/1/2024 3/25/2024 320.13 3137FBTA4 FHLMC MULTIFAMILY STRUCTURED POOL 3.06% 8/1/2024 320.133/1/2024 3/25/2024 119.09 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 119.093/1/2024 3/25/2024 297.62 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 297.623/1/2024 3/25/2024 11,817.90 3137FJXQ7 FHMS K733 A2 3.75% 8/1/2025 11,817.90 Total PAYDOWNS 34,766.26 34,766.26 0.00
SELL1/2/2024 1/5/2024 330,000.00 91282CCX7 US TREASURY NOTES 0.37% 9/15/2024 320,029.60 -10,198.811/4/2024 1/5/2024 95,000.00 91282CCT6 US TREASURY NOTES 0.37% 8/15/2024 92,451.71 -2,672.891/17/2024 1/19/2024 95,000.00 46647PCH7 JPMORGAN CHASE & CO (CALLABLE) CORP NOTE 0.82% 6/1/2025 93,270.87 -1,833.502/1/2024 2/5/2024 400,000.00 91282CCX7 US TREASURY NOTES 0.37% 9/15/2024 389,589.29 -10,837.862/2/2024 2/5/2024 100,000.00 9128283V0 US TREASURY NOTES 2.50% 1/31/2025 97,796.06 -3,321.052/2/2024 2/5/2024 55,000.00 91282CCT6 US TREASURY NOTES 0.37% 8/15/2024 53,741.86 -1,348.772/5/2024 2/8/2024 50,000.00 9128283D0 US TREASURY NOTES 2.25% 10/31/2024 49,316.88 -1,232.132/22/2024 2/23/2024 10,000.00 9128283V0 US TREASURY NOTES 2.50% 1/31/2025 9,784.55 -334.132/22/2024 2/26/2024 40,000.00 713448FW3 PEPSICO INC CORPORATE NOTES (CALLABLE) 5.12% 11/10/2026 40,890.41 296.60
49 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
SELL2/26/2024 2/26/2024 50,000.00 9128283D0 US TREASURY NOTES 2.25% 10/31/2024 49,392.04 -1,196.362/28/2024 3/1/2024 35,000.00 797412EL3 SAN DEIGO CNTY WTR AUTH, CA TXBL REV BON 0.59% 5/1/2024 34,774.48 -294.702/28/2024 3/1/2024 65,000.00 797412EK5 SAN DEIGO CNTY WTR AUTH, CA TXBL REV BON 0.59% 5/1/2024 64,583.78 -544.702/29/2024 3/5/2024 150,000.00 3137BJP64 FHMS K046 A2 3.20% 3/1/2025 146,959.67 -2,662.122/29/2024 3/5/2024 117,662.78 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 115,574.77 -3,050.583/7/2024 3/11/2024 160,000.00 4581X0DK1 INTER-AMERICAN DEVELOPMENT BANK NOTES 1.75% 3/14/2025 156,275.87 -7,141.713/11/2024 3/12/2024 65,000.00 9128283D0 US TREASURY NOTES 2.25% 10/31/2024 64,351.18 -1,456.423/14/2024 3/15/2024 25,000.00 9128283D0 US TREASURY NOTES 2.25% 10/31/2024 24,751.18 -562.713/26/2024 3/28/2024 120,000.00 166764BW9 CHEVRON CORP (CALLABLE) NOTES 1.55% 5/11/2025 116,137.66 -4,697.883/27/2024 3/28/2024 150,000.00 91282CGU9 US TREASURY NOTES 3.87% 3/31/2025 151,212.13 265.09 Total SELL 2,112,662.78 2,070,883.99 -52,824.63
50 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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.© 2023 PFM Asset Management LLC. Further distribution is not permitted without prior written consent.
51 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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 Cash Reserve Portfolio seeks tomaintain a stable net asset value of $1.00 per share and the CAMP TERM Portfolio seeks to achieve a net asset value of $1.00 per share at the stated maturity, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any othergovernment agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) andSecurities 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.
52 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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.
53 © PFM Asset Management LLC pfmam.com
LOS ALTOS HILLS
For the Quarter Ended March 31, 2024
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.
54 TOWN OF LOS ALTOS HILLS June 20, 2024
Staff Report to the City Council
SUBJECT: RECEIVE DISBURSEMENT REPORT FOR PERIOD ENDING
APRIL 2024
FROM: Fifi Ngom, Finance Manager
APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council:
Receive the April 2024 Disbursements Report.
BACKGROUND:
The April Disbursements Report is submitted to the City Council for transparency.
DISCUSSION:
The disbursements totaled $1,245,272.01 and electronic fund transfers totaled $274,549.76 for a grand total of $1,519,821.77.
The summarized information shown below is for payroll and related benefits, as well as vendors who were paid in excess of $10,000 in the month with a total of $1,409,366.88 or approximately 93% of total disbursements by check and electronic fund transfer for the month.
Amounts Vendors Description
197,730.24 EFT: ADP- Payroll Services for
April 2024, and other Bank
adjustments/fees
Pay Date: 04.05.24
Payroll: $70,424.29
Payroll Taxes: $20,260.63
Pay Date: 04.19.24
Payroll: $72,164.6
Payroll Taxes: $20,713.4
Bank Adjustments/Fees = $14,167.32
76,819.52 EFT: CalPERS (retirement and
health) and Navia for Flex
Spending
Employer contributions and employee
withholdings related to payroll
benefits.
43,860.00 ALL FENCE COMPANY INC. Contract Services
17,032.75 BELLECCI & ASSOCIATES Maintenance services
53,714.80 CITY OF PALO ALTO FY24 Regional animal control
Staff Report to City Council Page 2
Disbursement Report
June 20, 2024
89,052.82 CSG CONSULTANTS INC Contract Services
34,456.22 D&L SUPPLY CO INC CIP Wastewater
17,677.55 EATON AND ASSOCIATES Monthly IT services
11,970.25 ENGEO INCORPORATED Professional services Creekside repair 49,240.00 EXPRESS PLUMBING Adobe creek sewer main
33,840.18 GENESIS PRIVATE SECURITY Unarmed Security Services 27,454.61 GRASSROOTS ECOLOGY Open space stewardship program 15,127.09 GREENWASTE RECOVERY INC Yard waste
38,591.24 MEYERS NAVE City Attorney Services
32,170.00 MICHAEL BAKER
INTERNATIONAL INC
Housing element
41,870.95 MISSION SQUARE Retirement Services
13,960.66 MUNICPAL RESOURCE GROUP
LLC
Public safety consulting services
33,534.00 PALAMERICAN SECURITY Unarmed Security Services 123,754.74 PHOENIX ELECTRIC
COMPANY
Sewer
60,000.00 RJ DAILEY Refund deposit
205,605.58 SANTA CLARA COUNTY
SHERIFF'S DEPT
Law Enforcement Services
25,088.00 SHARP JPA SHARED AGENCY
RISK POOL
Worker's comp
29,250.00 SMELLY MEL'S PLUMBING INC Sewer
14,406.26 SUSAN ST LEDGER Refund deposit
10,643.24 WELLS FARGO Credit card misc. charges
93,188.15 WEST SANITARY DISTRICT Sewer maintenance services 19,328.03 Misc. Recipients Refund deposit
ENVIRONMENTAL REVIEW:
The Disbursement Report is exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 15061(b)(3) of the CEQA Guidelines. 2024 CITY COUNCIL WORK PLAN:
The report is for financial transparency and was not specified as one of the City Council’s Work Plan items for 2024.
FISCAL IMPACT:
There is no fiscal impact for the April 2024 Disbursements report.
ATTACHMENTS:
1. April 2024 Disbursements Report by Vendor.
6/12/2024 2:20:03 PM Page 1 of 16
Expense Approval Report
Town of Los Altos Hills By Vendor Name
Payment Dates 4/1/2024 - 4/30/2024
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: ONEONTA02 - 24925 ONEONTA DRIVE, LLC
24925 ONEONTA DRIVE, LLC EP18-0112 04/12/2024 REFUND DEPOSIT 24925 ONE… 011-0000-2301 51.37 24925 ONEONTA DRIVE, LLC EP18-0112 04/12/2024 REFUND DEPOSIT 24925 ONE… 011-0000-2303 3,000.00 Vendor ONEONTA02 - 24925 ONEONTA DRIVE, LLC Total: 3,051.37 Vendor: ARIACA01 - ADOLFO ARIACA
ADOLFO ARIACA BLD23-0698 04/12/2024 REFUND DEPOSIT 27820 SADD…011-0000-2303 454.66 Vendor ARIACA01 - ADOLFO ARIACA Total: 454.66
Vendor: ATKINS94023 - ALEXANDER ATKINS DESIGN INC
ALEXANDER ATKINS DESIGN I… 8347 04/11/2024 Our Town Quarterly Newslett… 011-1100-6304 6,250.00 Vendor ATKINS94023 - ALEXANDER ATKINS DESIGN INC Total: 6,250.00 Vendor: ALLFENCE01 - ALL FENCE COMPANY INC
ALL FENCE COMPANY INC 81706 04/12/2024 OUTFIELD&RIGHTFIELD, FRIST… 041-6900-6622 43,860.00 Vendor ALLFENCE01 - ALL FENCE COMPANY INC Total: 43,860.00 Vendor: AMERIGAS91109 - AMERIGAS PROPANE INC.
AMERIGAS PROPANE INC. 3161562799 04/11/2024 TANK RENT FIXED 500 GL 2/1/…061-4300-6342 152.52 Vendor AMERIGAS91109 - AMERIGAS PROPANE INC. Total: 152.52 Vendor: ANIMAL95037 - ANIMAL DAMAGE MANAGEMENT
ANIMAL DAMAGE MANAGEM… 328745 04/12/2024 PURISSIMA PARK PEST CONT… 011-5100-6122 650.00 ANIMAL DAMAGE MANAGEM… 333032 04/12/2024 PURISSIMA PARK PEST CONT… 011-5100-6122 650.00 Vendor ANIMAL95037 - ANIMAL DAMAGE MANAGEMENT Total: 1,300.00 Vendor: AT&T 60197_5014 - AT&T
AT&T 256795714 4.10.24 04/25/2024 #256795714 APRIL 2024 INTE… 061-1480-6310 127.69 Vendor AT&T 60197_5014 - AT&T Total: 127.69
Vendor: AT&T PO9011 - AT&T
AT&T 000021530096 04/25/2024 T-1 PBX/PRI TELEPHONES DATA 061-1480-6362 155.55 AT&T 000021530183 04/25/2024 PURISSIMA/ELENA PUMP STA… 051-4800-6362 27.79 AT&T 000021530186 04/25/2024 ALTERNATE EOC - FIRE STATI… 011-2100-6362 84.94 AT&T 000021530187 04/25/2024 HERITAGE HOUSE ALARM 011-2100-6362 29.87 AT&T 000021530188 04/25/2024 26379 FREMONT ROAD 061-1480-6362 882.81 AT&T 000021530189 04/25/2024 26379 FREMONT ROAD - CH… 061-1480-6362 29.35 AT&T 000021530190 04/25/2024 WWB FIRE ALARM LINE 011-5300-6362 57.15 AT&T 000021530191 04/25/2024 HERITAGE HOUSE DSL SVC 011-2100-6362 58.18 AT&T 000021530192 04/25/2024 26379 FREMONT ROAD 061-1480-6362 313.01 AT&T 000021530193 04/25/2024 HERITAGE HOUSE OES NEW P… 011-2100-6362 57.15 AT&T 000021530194 04/25/2024 12863 LA CRESTA EOC HAM R… 011-2100-6362 31.84 AT&T 000021530195 04/25/2024 28002 PURISSIMA RD - SANIT… 051-4800-6362 29.87 AT&T 000021530196 04/25/2024 27400 PURISSIMA RD - CORP … 061-4300-6362 58.18 AT&T 000021530666 04/25/2024 O'KEEFE LN AT NORMANDY LN 051-4800-6362 30.58 Vendor AT&T PO9011 - AT&T Total: 1,846.27
Vendor: BELLECCI01 - BELLECCI & ASSOCIATES INC
BELLECCI & ASSOCIATES INC 200065.00-0000016 04/11/2024 UUD IN AROUND THE EL MON…041-6900-6206 3,947.50 BELLECCI & ASSOCIATES INC 200065.00-0000020 04/11/2024 UUD AROUND ELMONTE FIRE …041-6900-6206 13,085.25 Vendor BELLECCI01 - BELLECCI & ASSOCIATES INC Total: 17,032.75 Vendor: BENEST01 - BENEST, FRANK
BENEST, FRANK MARCH 28, 2024 04/11/2024 PROF SVCS TAKING CHG OF Y… 011-1100-6199 1,500.00 Vendor BENEST01 - BENEST, FRANK Total: 1,500.00
Vendor: BMI94085 - BMI IMAGING SYSTEMS, INC.
BMI IMAGING SYSTEMS, INC. 321607 04/25/2024 16 BOXES SCANNING MAERIA… 011-3100-6304 8,433.73 Vendor BMI94085 - BMI IMAGING SYSTEMS, INC. Total: 8,433.73
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 2 of 16
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: BRUNNER01 - BRUNNER, KEREN
BRUNNER, KEREN 04.04.2024 04/11/2024 DINNER FOR PLANNING COM… 011-3110-6308 241.11 Vendor BRUNNER01 - BRUNNER, KEREN Total: 241.11
Vendor: CADOT95816 - CALIFORNIA DEPARTMENT OF TRANSPORTATION CALIFORNIA DEPARTMENT OF…SL240797 04/25/2024 SIGNAL & LIGHTING BILLING J… 011-4600-6145 1,400.76 Vendor CADOT95816 - CALIFORNIA DEPARTMENT OF TRANSPORTATION Total: 1,400.76 Vendor: CALWATER95194 - CALIFORNIA WATER SERVICE CO.
CALIFORNIA WATER SERVICE … 1865744444 4.22.24 04/25/2024 CAL WATER SVCS 3/22-4/19/2…011-5100-6364 63.14 CALIFORNIA WATER SERVICE … 8540713534 4.22.24 04/25/2024 CAL WATER SVCS 3/24-4/19/2…011-5100-6364 65.45 Vendor CALWATER95194 - CALIFORNIA WATER SERVICE CO. Total: 128.59 Vendor: CHEVRON28272 - CHEVRON AND TEXACO CARD SERVICES CHEVRON AND TEXACO CARD …96287173 04/11/2024 FLEET FUEL FOR 3/8/24-4/5/24 061-4300-6342 113.08 CHEVRON AND TEXACO CARD …96287173 04/11/2024 FLEET FUEL FOR 3/8/24-4/5/24 061-4300-6342 33.09 CHEVRON AND TEXACO CARD …96287173 04/11/2024 FLEET FUEL FOR 3/8/24-4/5/24 061-4300-6342 30.00 CHEVRON AND TEXACO CARD …96287173 04/11/2024 FLEET FUEL FOR 3/8/24-4/5/24 061-4300-6342 31.01 CHEVRON AND TEXACO CARD …96287173 04/11/2024 FLEET FUEL FOR 3/8/24-4/5/24 061-4400-6342 184.51 CHEVRON AND TEXACO CARD …96287173 04/11/2024 FLEET FUEL FOR 3/8/24-4/5/24 061-4400-6342 101.98 CHEVRON AND TEXACO CARD …96287173 04/11/2024 FLEET FUEL FOR 3/8/24-4/5/24 061-4400-6342 154.38 CHEVRON AND TEXACO CARD …96287173 04/11/2024 FLEET FUEL FOR 3/8/24-4/5/24 061-4400-6342 137.41 Vendor CHEVRON28272 - CHEVRON AND TEXACO CARD SERVICES Total: 785.46 Vendor: JAEGER01 - CHRISTOPHER JAEGER
CHRISTOPHER JAEGER SR19-0011-1 04/25/2024 REFUND DEPOSIT 24250 HILLV…011-0000-2303 5,000.00 Vendor JAEGER01 - CHRISTOPHER JAEGER Total: 5,000.00
Vendor: CINTAS- UNIFORMS - CINTAS CORPORATION
CINTAS CORPORATION 4187808854 04/11/2024 UNIFORMS AND HOUSEKEEPI… 061-1480-6123 145.18 CINTAS CORPORATION 4187808854 04/11/2024 UNIFORMS AND HOUSEKEEPI… 061-4300-6324 188.14 CINTAS CORPORATION 4188518191 04/12/2024 UNIFORMS & SUPPLIES 04/04… 061-1480-6123 225.21 CINTAS CORPORATION 4188518191 04/12/2024 UNIFORMS & SUPPLIES 04/04… 061-4300-6324 188.14 CINTAS CORPORATION 4189233887 04/25/2024 UNIFORMS AND HOUSEKEEPI… 061-1480-6123 145.18 CINTAS CORPORATION 4189233887 04/25/2024 UNIFORMS AND HOUSEKEEPI… 061-4300-6324 188.14 Vendor CINTAS- UNIFORMS - CINTAS CORPORATION Total: 1,079.99 Vendor: ANIMAL94303 - CITY OF PALO ALTO - ANIMAL SERVICES DIVISION CITY OF PALO ALTO - ANIMAL …7100000898 04/25/2024 FY24 REGIONAL ANIMAL CON… 011-2150-6134 53,714.80 Vendor ANIMAL94303 - CITY OF PALO ALTO - ANIMAL SERVICES DIVISION Total: 53,714.80 Vendor: COMCAST19380 - COMCAST BUSINESS
COMCAST BUSINESS 197531841 04/25/2024 #980056897 APR-1 2024 CAL… 061-1480-6310 951.22 Vendor COMCAST19380 - COMCAST BUSINESS Total: 951.22
Vendor: COMCAST LOCAL ACCTS - COMCAST
COMCAST 0017176 4.3.24 04/11/2024 #8155200160017176 CABLE&… 061-1480-6310 216.23 COMCAST 0016749 4.17.24 04/25/2024 #8155200160016749 4/27/24… 061-1480-6310 283.60 Vendor COMCAST LOCAL ACCTS - COMCAST Total: 499.83
Vendor: CORELOGIC75284 - CORELOGIC INFORMATION SOLUTIONS, INC.
CORELOGIC INFORMATION SO…30712362 04/11/2024 RQ2 FLAT FEE LIMITED PAGCK… 011-3100-6304 106.09 CORELOGIC INFORMATION SO…30712362 04/11/2024 RQ2 FLAT FEE LIMITED PAGCK… 011-3200-6304 106.09 Vendor CORELOGIC75284 - CORELOGIC INFORMATION SOLUTIONS, INC. Total: 212.18 Vendor: CORODATA90084 - CORODATA SHREDDING INC.
CORODATA SHREDDING INC. DN 1466385 04/25/2024 1- 21 GLN CONSOLE (24"TALL… 061-1480-6323 950.62 Vendor CORODATA90084 - CORODATA SHREDDING INC. Total: 950.62 Vendor: COTTON95030 - COTTON SHIRES & ASSOC, INC.
COTTON SHIRES & ASSOC, INC. 324178 04/11/2024 3/2024 ADMIN FEE GEO TECH… 011-0000-2301 246.00 COTTON SHIRES & ASSOC, INC. 324178 04/11/2024 3/2024 BILLABLE GEO TECH-S… 011-0000-2301 2,460.00 COTTON SHIRES & ASSOC, INC. 324178 04/11/2024 3/2024 RECOG ADMIN FEE G… 011-0000-4685 -246.00 COTTON SHIRES & ASSOC, INC. 324178 04/11/2024 3/2024 PASSTHRU REV GEO T… 011-3100-4707 -2,460.00 COTTON SHIRES & ASSOC, INC. 324178 04/11/2024 3/2024 PASSTHRU EXP GEO T… 011-3100-6178 2,460.00 COTTON SHIRES & ASSOC, INC. 324179 04/11/2024 3/2024 BILLIABLE GEO TECH S… 011-0000-2301 3,145.10 COTTON SHIRES & ASSOC, INC. 324179 04/11/2024 3/2024 ADMIN FEE GEO TECH… 011-0000-2301 314.51 COTTON SHIRES & ASSOC, INC. 324179 04/11/2024 3/2024 RECOG ADMIN FEE G… 011-0000-4685 -314.51
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 3 of 16
Vendor Name Payable Number Post Date Description (Item) Account Number Amount COTTON SHIRES & ASSOC, INC. 324179 04/11/2024 3/2024 PASSTHRU REV GEO T… 011-3100-4707 -3,145.10 COTTON SHIRES & ASSOC, INC. 324179 04/11/2024 3/2024 PASSTHRU EXP GEO T… 011-3100-6178 3,145.10 COTTON SHIRES & ASSOC, INC. 324181 04/11/2024 3/2023 BILLABLE GEO TECH-S… 011-0000-2301 2,726.25 COTTON SHIRES & ASSOC, INC. 324181 04/11/2024 3/2023 ADMIN FEE GEO TECH… 011-0000-2301 272.63 COTTON SHIRES & ASSOC, INC. 324181 04/11/2024 3/2023 RECOG FEE GEO TECH-…011-0000-4685 -272.63 COTTON SHIRES & ASSOC, INC. 324181 04/11/2024 3/2023 PASSTHRU REV GEO T… 011-3100-4707 -2,726.25 COTTON SHIRES & ASSOC, INC. 324181 04/11/2024 3/2023 PASSTHRU EXP GEO T… 011-3100-6178 2,726.25 Vendor COTTON95030 - COTTON SHIRES & ASSOC, INC. Total: 8,331.35 Vendor: CSG94404 - CSG CONSULTANTS INC
CSG CONSULTANTS INC B240290 04/11/2024 BUILDING REVIEW SERVICES 2…011-3200-6199 18,110.86 CSG CONSULTANTS INC 55583 04/25/2024 2/2024 BILLABLE CONTRACT S…011-0000-2301 8,120.00 CSG CONSULTANTS INC 55583 04/25/2024 2/2024 ADMIN FEE CONTRACT…011-0000-2301 1,624.00 CSG CONSULTANTS INC 55583 04/25/2024 2/2024 RECOG ADMIN FEE C… 011-0000-4685 -1,624.00 CSG CONSULTANTS INC 55583 04/25/2024 2/2024 PASSTHRU REV CONT… 011-3300-4705 -8,120.00 CSG CONSULTANTS INC 55583 04/25/2024 2/2024 PASSTHRU EXP CONT… 011-3300-6175 8,120.00 CSG CONSULTANTS INC B240503 04/25/2024 BUILDING PLAN REVIEW SERV… 011-3200-6199 56,716.96 CSG CONSULTANTS INC 56100 04/25/2024 PAVEMENT CONST INSP THRU…046-6900-6111 6,105.00 Vendor CSG94404 - CSG CONSULTANTS INC Total: 89,052.82
Vendor: DLSUPPLY01 - D&L SUPPLY CO INC
D&L SUPPLY CO INC 0000157834 04/25/2024 CIP WASTERWATER 048-6900-6625 34,456.22 Vendor DLSUPPLY01 - D&L SUPPLY CO INC Total: 34,456.22
Vendor: DIAMOND01 - DIAMOND QUALITY PRINTING INC.
DIAMOND QUALITY PRINTING …41215 04/25/2024 ARTIST RECEPTION BANNER ST…011-1700-6361 142.19 Vendor DIAMOND01 - DIAMOND QUALITY PRINTING INC. Total: 142.19 Vendor: CORBETT01 - DKG CONSULTANTS, LLC
DKG CONSULTANTS, LLC 2024-17 04/11/2024 3/1/24-3/29/24 CONSULTANT…011-1400-6111 9,200.00 Vendor CORBETT01 - DKG CONSULTANTS, LLC Total: 9,200.00 Vendor: EATON03 - EATON AND ASSOCIATES
EATON AND ASSOCIATES 90125 04/12/2024 DELL-P2422 24" HD LED MONI…061-1480-6208 1,071.05 EATON AND ASSOCIATES 90180 04/12/2024 BLACK&WHITE NETWORK CAB…041-6900-6503 424.50 EATON AND ASSOCIATES 90198 04/11/2024 Monthly IT Managed Services 061-1480-6111 11,337.00 EATON AND ASSOCIATES 90246 04/25/2024 NETWORK CLOSE REFRESH - … 041-6900-6503 4,845.00 Vendor EATON03 - EATON AND ASSOCIATES Total: 17,677.55
Vendor: SIGNIFICANT95125 - ECAPITAL COMMERCIAL FINANCE GROUP ECAPITAL COMMERCIAL FINA… 114600 04/25/2024 JANITORIAL SERVICES FOR MU…011-5100-6123 195.00 ECAPITAL COMMERCIAL FINA… 114600 04/25/2024 JANITORIAL SERVICES FOR LIT… 011-5100-6123 435.00 ECAPITAL COMMERCIAL FINA… 114600 04/25/2024 JANITORIAL SERVICES FOR WE…011-5300-6123 430.00 ECAPITAL COMMERCIAL FINA… 114600 04/25/2024 JANITORIAL SERVICES FOR PA… 061-1480-6123 270.00 ECAPITAL COMMERCIAL FINA… 114600 04/25/2024 JANITORIAL SERVICES FOR T… 061-1480-6123 1,920.00 ECAPITAL COMMERCIAL FINA… 114600 04/25/2024 JANITORIAL SERVICES FOR CO… 061-4300-6123 450.00 ECAPITAL COMMERCIAL FINA… 114854 04/25/2024 CARPET CLEANED TOWN HALL…061-1480-6123 195.00 ECAPITAL COMMERCIAL FINA… 115061 04/25/2024 JANITORIAL SUPPLIES FOR T… 061-1480-6123 688.44 ECAPITAL COMMERCIAL FINA… 115117 04/25/2024 JANITORIAL SERVICES FOR LIT… 011-5100-6123 435.00 ECAPITAL COMMERCIAL FINA… 115117 04/25/2024 JANITORIAL SERVICES FOR MU…011-5100-6123 195.00 ECAPITAL COMMERCIAL FINA… 115117 04/25/2024 JANITORIAL SERVICES FOR WE…011-5300-6123 430.00 ECAPITAL COMMERCIAL FINA… 115117 04/25/2024 JANITORIAL SERVICES FOR T… 061-1480-6123 1,920.00 ECAPITAL COMMERCIAL FINA… 115117 04/25/2024 JANITORIAL SERVICES FOR PA… 061-1480-6123 270.00 ECAPITAL COMMERCIAL FINA… 115117 04/25/2024 JANITORIAL SERVICES FOR CO… 061-4300-6123 450.00 Vendor SIGNIFICANT95125 - ECAPITAL COMMERCIAL FINANCE GROUP Total: 8,283.44 Vendor: ENGEO94583 - ENGEO INCORPORATED
ENGEO INCORPORATED 289679 04/11/2024 PROF SVCS CREEKSIDE REPAIR… 045-6900-6206 2,778.00 ENGEO INCORPORATED 290315 04/11/2024 PROF SVCS CREEKSIDE REPAIR… 045-6900-6206 9,192.25 Vendor ENGEO94583 - ENGEO INCORPORATED Total: 11,970.25 Vendor: ENOVEN95691 - ENOVEN TRUCK BODY AND EQUIPMENT
ENOVEN TRUCK BODY AND E… 4.9.2024 04/25/2024 2 NEW PC70029 HINGES FOR … 061-4400-6351 96.51 Vendor ENOVEN95691 - ENOVEN TRUCK BODY AND EQUIPMENT Total: 96.51
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 4 of 16
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: EOA94612 - EOA, INC.
EOA, INC. LAH001-0124 04/11/2024 1/2024 BILLABLAE CONTRACT …011-0000-2301 237.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 BILLABLE CONTRACT S…011-0000-2301 736.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 BILLABLE CONTRACT S…011-0000-2301 736.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 BILLABLE CONTRACT S…011-0000-2301 70.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 ADMIN FEE CONTRACT…011-0000-2301 73.60 EOA, INC. LAH001-0124 04/11/2024 1/2024 ADMIN FEE CONTRACT…011-0000-2301 73.60 EOA, INC. LAH001-0124 04/11/2024 1/2024 ADMIN FEE CONTRACT…011-0000-2301 83.30 EOA, INC. LAH001-0124 04/11/2024 1/2024 BILLABLE CONTRACT S…011-0000-2301 833.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 ADMIN FEE CONTRACT…011-0000-2301 7.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 ADMIN FEE CONTRACT…011-0000-2301 23.70 EOA, INC. LAH001-0124 04/11/2024 1/2024 RECOG ADMIN FEE C… 011-0000-4685 -7.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 RECOG ADMIN FEE C… 011-0000-4685 -23.70 EOA, INC. LAH001-0124 04/11/2024 1/2024 RECOG ADMIN FEE C… 011-0000-4685 -83.30 EOA, INC. LAH001-0124 04/11/2024 1/2024 RECOG ADMIN FEE C… 011-0000-4685 -73.60 EOA, INC. LAH001-0124 04/11/2024 1/2024 RECOG ADMIN FEE C… 011-0000-4685 -73.60 EOA, INC. LAH001-0124 04/11/2024 1/2024 PASSTHRU REV CONT… 011-3300-4705 -736.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 PASSTHRU REV CONT… 011-3300-4705 -70.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 PASSTHRU REV CONT… 011-3300-4705 -833.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 PASSTHRU REV CONT… 011-3300-4705 -736.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 PASSTHRU REV CONT… 011-3300-4705 -237.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 PASSTHRU EXP LEGAL …011-3300-6179 70.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 PASSTHRU EXP CONT… 011-3300-6179 237.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 PASSTHRU EXP CONT… 011-3300-6179 833.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 PASSTHRU EXP CONT… 011-3300-6179 736.00 EOA, INC. LAH001-0124 04/11/2024 1/2024 PASSHTHRU EXP CON… 011-3300-6179 736.00 Vendor EOA94612 - EOA, INC. Total: 2,612.00
Vendor: EXPRESS01 - EXPRESS PLUMBING
EXPRESS PLUMBING 51246P 04/25/2024 ADOBE CREEK SEWER MAIN C… 048-6900-6625 49,240.00 Vendor EXPRESS01 - EXPRESS PLUMBING Total: 49,240.00
Vendor: FREMONTHIGH01 - FREMONT UNION HIGH SCHOOL DISTRICT FREMONT UNION HIGH SCHO… 3.26.2024 04/11/2024 800 BISCUITS & BAGS OF BISC… 011-4120-6361 70.00 Vendor FREMONTHIGH01 - FREMONT UNION HIGH SCHOOL DISTRICT Total: 70.00 Vendor: GAGNE95131 - GAGNE BROTHERS ENTERPRISES
GAGNE BROTHERS ENTERPRIS…EP19-0044 04/12/2024 REFUND DEPOSIT 26896 ALEJ… 011-0000-2301 301.00 GAGNE BROTHERS ENTERPRIS…EP19-0044 04/12/2024 REFUND DEPOSIT 26896 ALEJ… 011-0000-2303 3,000.00 Vendor GAGNE95131 - GAGNE BROTHERS ENTERPRISES Total: 3,301.00 Vendor: GARDENLAND95008 - GARDENLAND CENTER INC.
GARDENLAND CENTER INC. 1085279 04/11/2024 CORP YARD SPOOL HOUSING … 061-4300-6398 240.08 GARDENLAND CENTER INC. 1085282 04/11/2024 CORP YARD CHAIN-SAWS 061-4300-6614 762.33 Vendor GARDENLAND95008 - GARDENLAND CENTER INC. Total: 1,002.41 Vendor: GENESIS01 - GENESIS PRIVATE SECURITY, INC
GENESIS PRIVATE SECURITY, I… 119923 04/11/2024 Change order 011-2100-6199 33,840.18 Vendor GENESIS01 - GENESIS PRIVATE SECURITY, INC Total: 33,840.18 Vendor: GLASS97124 - GLASS TECH OF OREGON, INC.
GLASS TECH OF OREGON, INC. 0147149-IN 04/25/2024 WINE GLASSES FOR TOWN EV… 011-4120-6398 713.70 Vendor GLASS97124 - GLASS TECH OF OREGON, INC. Total: 713.70 Vendor: GRAINGER60038 - GRAINGER
GRAINGER 9070600276 04/25/2024 HOUSEKEEPING SUPPLIES 061-4300-6123 103.25 Vendor GRAINGER60038 - GRAINGER Total: 103.25
Vendor: GRASSROOTS01 - GRASSROOTS ECOLOGY
GRASSROOTS ECOLOGY LAHBP0324 04/11/2024 Open Space Stewardship Prog… 041-6900-6122 27,454.61 Vendor GRASSROOTS01 - GRASSROOTS ECOLOGY Total: 27,454.61 Vendor: GREEN95112 - GREENWASTE RECOVERY INC
GREENWASTE RECOVERY INC 0007334911 04/25/2024 2-PARCEL DRIVE ON DISTANCE…011-1200-6398 1,290.92 GREENWASTE RECOVERY INC 032835 04/25/2024 MRF-OTHER FOR MARH-2024… 011-0000-1110 5,377.18
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 5 of 16
Vendor Name Payable Number Post Date Description (Item) Account Number Amount GREENWASTE RECOVERY INC 032870 04/25/2024 LID FLIP SURVEY/OOPS NOTE/… 011-1200-6398 8,458.99 Vendor GREEN95112 - GREENWASTE RECOVERY INC Total: 15,127.09 Vendor: HAYWARD93901 - HAYWARD LUMBER
HAYWARD LUMBER 404541 04/12/2024 STAKES FOR TOWN HALL TREE 061-1480-6122 170.51 HAYWARD LUMBER 422260 04/25/2024 EDITH PARK LUMBER FOR BE… 011-5100-6399 646.90 Vendor HAYWARD93901 - HAYWARD LUMBER Total: 817.41
Vendor: HORIZON01 - HORIZON DISTRIBUTORS INC.
HORIZON DISTRIBUTORS INC. 1N582640 04/11/2024 PURISSIMA PARK IRRIGATION …011-5100-6123 1,310.97 Vendor HORIZON01 - HORIZON DISTRIBUTORS INC. Total: 1,310.97 Vendor: ICMAMEMB21279 - ICMA MEMBERSHIP RENEWALS
ICMA MEMBERSHIP RENEWA… #427128 MEMBERSHIP 04/25/2024 #427128 MEMBERSHIP P. PIR… 011-1200-6302 1,200.00 Vendor ICMAMEMB21279 - ICMA MEMBERSHIP RENEWALS Total: 1,200.00 Vendor: IGTANLOC01 - IGTANLOC, GERRY
IGTANLOC, GERRY 04/04/2024 04/11/2024 BI - RESIDENTAIL BUILDING INS 011-3200-6309 240.00 Vendor IGTANLOC01 - IGTANLOC, GERRY Total: 240.00
Vendor: WILCOX01 - JARED WILCOX (PARAGON CB)
JARED WILCOX (PARAGON CB) EP23-0165 04/12/2024 REFUND DEPOSIT 12869 LA C… 011-0000-2301 903.00 Vendor WILCOX01 - JARED WILCOX (PARAGON CB) Total: 903.00 Vendor: KIA02 - KIA MOTORS FINANCE
KIA MOTORS FINANCE 2215089147 4.25.24 04/25/2024 2022 KIA NIRO EV #22150891… 061-4400-6506 361.06 KIA MOTORS FINANCE 2215089803 4.25.24 04/25/2024 2022 KIA NIRO EV #22150898… 061-4400-6506 361.06 Vendor KIA02 - KIA MOTORS FINANCE Total: 722.12
Vendor: LCW90045 - LIEBERT CASSIDY WHITMORE
LIEBERT CASSIDY WHITMORE 244802 04/11/2024 ERC MEMBERSHIP 7/1/20/23 -…011-1400-6302 4,245.00 Vendor LCW90045 - LIEBERT CASSIDY WHITMORE Total: 4,245.00 Vendor: LIFETIME94085 - LIFETIME ROOFING AND RENOVATION LIFETIME ROOFING AND REN… BLD24-0147 04/25/2024 B031 - SMIP BLD24-0147 011-0000-2002 5.85 LIFETIME ROOFING AND REN… BLD24-0147 04/25/2024 B030 - BSASRF / GREEN FEE B… 011-0000-2004 2.00 LIFETIME ROOFING AND REN… BLD24-0147 04/25/2024 B008 - ROOFING BLD24-0147 011-3200-4301 375.00 LIFETIME ROOFING AND REN… BLD24-0147 04/25/2024 B016 - ELECTRONIC PLAN RET… 011-3200-4311 75.00 Vendor LIFETIME94085 - LIFETIME ROOFING AND RENOVATION Total: 457.85 Vendor: LAHARDWARE94022 - LOS ALTOS HARDWARE INC
LOS ALTOS HARDWARE INC 27125/1 04/12/2024 TOOLS FOR CORP YARD 061-4300-6398 58.91 LOS ALTOS HARDWARE INC 27201/1 04/12/2024 TOOLS FOR CORP YARD 061-4300-6398 36.54 LOS ALTOS HARDWARE INC 27219/1 04/12/2024 TOWN HALL DRINKING FOUN… 061-1480-6118 92.10 LOS ALTOS HARDWARE INC 27220/1 04/12/2024 PARTS FOR CORP YARD 061-4300-6398 18.54 LOS ALTOS HARDWARE INC 27222/1 04/12/2024 TOWN HALL ORIGINAL FOUN… 061-1480-6118 3.26 LOS ALTOS HARDWARE INC 27224/1 04/12/2024 TOWN HALL DRINKING FOUN… 061-1480-6118 19.62 LOS ALTOS HARDWARE INC 27225/1 04/12/2024 TOWN HALL DRINKING FOUN… 061-1480-6118 6.53 LOS ALTOS HARDWARE INC 27226/1 04/12/2024 TOWN HALL DRINIKING FOUN… 061-1480-6118 11.53 LOS ALTOS HARDWARE INC 27227/1 04/12/2024 TOWN HALL DRINKING FOUN… 061-1480-6118 23.85 LOS ALTOS HARDWARE INC 27268/1 04/11/2024 COPR YARD SPR NOZZLE & BU… 061-4300-6398 49.08 LOS ALTOS HARDWARE INC 27411/1 04/25/2024 EXT CORD AND LTX SEALANT 061-4300-6398 35.98 LOS ALTOS HARDWARE INC 27423/1 04/25/2024 EXTRA KEYS FOR SIGNAL CABI… 061-4300-6398 46.11 LOS ALTOS HARDWARE INC 27433/1 04/25/2024 STONE PAINT & HOSE BIBB 061-4300-6398 42.54 LOS ALTOS HARDWARE INC 27525/1 04/25/2024 CAN HEAT FUEL 011-1100-6308 52.34 LOS ALTOS HARDWARE INC 27540/1 04/25/2024 KEYS FOR CODY/TOWN HALL 061-1480-6118 116.92 Vendor LAHARDWARE94022 - LOS ALTOS HARDWARE INC Total: 613.85 Vendor: CRIER94022 - LOS ALTOS TOWN CRIER
LOS ALTOS TOWN CRIER 70666 04/11/2024 2/7/24 LEGALS 1X11' 047--T 011-1300-6207 137.50 Vendor CRIER94022 - LOS ALTOS TOWN CRIER Total: 137.50
Vendor: LOSGATOS95112 - LOS GATOS ROOFING
LOS GATOS ROOFING BLD24-0182 04/25/2024 B032 SMIP COMMERCIAL - BL… 011-0000-2002 7.00 LOS GATOS ROOFING BLD24-0183 04/25/2024 B032-SMIP COMMERCIAL - BL… 011-0000-2002 6.90 Vendor LOSGATOS95112 - LOS GATOS ROOFING Total: 13.90
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 6 of 16
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: LYNX95010 - LYNX TECHNOLOGIES, INC.
LYNX TECHNOLOGIES, INC. 10018 04/11/2024 LAH GIS Consulting Svcs 011-3100-6199 1,425.00 LYNX TECHNOLOGIES, INC. 10103 04/11/2024 LAH GIS Consulting Svcs 011-3100-6199 3,600.00 Vendor LYNX95010 - LYNX TECHNOLOGIES, INC. Total: 5,025.00 Vendor: TAAM01 - MALCOLM TAAM
MALCOLM TAAM 399 04/10/2024 LOS ALTOS HILLS BARN LIGHN… 011-4120-6361 312.50 MALCOLM TAAM 403 04/25/2024 PHOTOGRAPH THE LAH 5 CITY…011-1100-6361 1,035.00 Vendor TAAM01 - MALCOLM TAAM Total: 1,347.50
Vendor: METRO94002 - METRO MOBILE COMMUNICATIONS INC.
METRO MOBILE COMMUNICA…240425 04/12/2024 8 PORTABLE RADIO@$21 PER… 061-4300-6362 168.00 Vendor METRO94002 - METRO MOBILE COMMUNICATIONS INC. Total: 168.00 Vendor: METLIFE64180 - METROPOLITAN LIFE INSURANCE COMPANY METROPOLITAN LIFE INSURA… TS05957300 0001 4.14.24 04/25/2024 TS05957300 0001 4.14.24 DE… 061-0000-2233 3,088.76 Vendor METLIFE64180 - METROPOLITAN LIFE INSURANCE COMPANY Total: 3,088.76 Vendor: METROPOLITAN94043 - METROPOLITAN PLANNING GROUP INC METROPOLITAN PLANNING G… 2004216 04/11/2024 10728 MORA DR - CDP23-0001 011-3100-6199 185.00 METROPOLITAN PLANNING G… 2004216 04/11/2024 PATHWAY FEE NEXUS STUDY -…042-6900-6209 462.50 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 BILLABLE CONTRACT S…011-0000-2301 92.50 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 ADMIN FEE CONTRACT…011-0000-2301 18.50 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 ADMIN FEE CONTRACT…011-0000-2301 13.88 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 ADMIN FEE CONTRACT…011-0000-2301 9.25 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 BILLABLE CONTRACT S…011-0000-2301 185.00 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 BILLABLE CONTRACT S…011-0000-2301 138.75 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 RECOG ADMIN FEE C… 011-0000-4685 -13.88 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 RECOG ADMIN FEE C… 011-0000-4685 -18.50 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 RECOG ADMIN FEE C… 011-0000-4685 -9.25 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 PASSTHRU REV CONT… 011-3100-4703 -185.00 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 PASSTHRU REV CONT… 011-3100-4703 -138.75 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 PASSTHRU REV CONT… 011-3100-4703 -92.50 METROPOLITAN PLANNING G… 2003906 04/25/2024 FAST TRACK/SITE DEVELOPM… 011-3100-6111 508.75 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 PASSTHRU EXP CONT… 011-3100-6176 138.75 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 PASSTHRU EXP CONT… 011-3100-6176 92.50 METROPOLITAN PLANNING G… 2003906 04/25/2024 6/2023 PASSTHRU EXP CONT… 011-3100-6176 185.00 METROPOLITAN PLANNING G… 2003906 04/25/2024 PATHWAY FEE NEXUS STUDY 042-6900-6199 601.25 Vendor METROPOLITAN94043 - METROPOLITAN PLANNING GROUP INC Total: 2,173.75 Vendor: MEYERS94607 - MEYERS NAVE, A PROFESSIONAL CORPORATION MEYERS NAVE, A PROFESSIO… 205817 04/11/2024 NORTH COUNTY LIBRARY AUT… 011-1500-6201 1,146.60 MEYERS NAVE, A PROFESSIO… 215574 04/11/2024 Monthly Basic General Counse…011-1500-6201 13,465.00 MEYERS NAVE, A PROFESSIO… 215578 04/11/2024 2/2024 BILLABLE LEGAL SVCS-… 011-0000-2301 391.40 MEYERS NAVE, A PROFESSIO… 215578 04/11/2024 2/2024 ADMIN FEE LEGAL SVC…011-0000-2301 39.14 MEYERS NAVE, A PROFESSIO… 215578 04/11/2024 2/2024 RECOG ADMIN FEE LE… 011-0000-4685 -39.14 MEYERS NAVE, A PROFESSIO… 215578 04/11/2024 2/2024 PASSTHRU REV LEGAL …011-3100-4702 -391.40 MEYERS NAVE, A PROFESSIO… 215578 04/11/2024 2/2024 PASSTHRU EXP LEGAL …011-3100-6177 391.40 MEYERS NAVE, A PROFESSIO… 215579 04/11/2024 2/2024 BILLABLE LEGAL SVCS-… 011-0000-2301 391.40 MEYERS NAVE, A PROFESSIO… 215579 04/11/2024 2/2024 ADMIN FEE LEGAL SVC…011-0000-2301 39.14 MEYERS NAVE, A PROFESSIO… 215579 04/11/2024 2/2024 RECOG ADMIN FEE LE… 011-0000-4685 -39.14 MEYERS NAVE, A PROFESSIO… 215579 04/11/2024 2/2024 PASSTHRU REV LEGAL …011-3100-4702 -391.40 MEYERS NAVE, A PROFESSIO… 215579 04/11/2024 2/2024 PASSTHRU EXP LEGAL …011-3100-6177 391.40 MEYERS NAVE, A PROFESSIO… 215580 04/11/2024 2/2024 BILLABLE LEGAL SVCS … 011-0000-2301 123.60 MEYERS NAVE, A PROFESSIO… 215580 04/11/2024 2/2024 ADMIN FEE LEGAL SVC…011-0000-2301 12.36 MEYERS NAVE, A PROFESSIO… 215580 04/11/2024 2/2024 RECOG ADMIN FEE LE… 011-0000-4685 -12.36 MEYERS NAVE, A PROFESSIO… 215580 04/11/2024 2/2024 PASSTHRU REV LEGAL …011-3100-4702 -123.60 MEYERS NAVE, A PROFESSIO… 215580 04/11/2024 2/2024 PASSTHRU EXP LEGAL …011-3100-6177 123.60 MEYERS NAVE, A PROFESSIO… 215581 04/11/2024 LABOR AND PERSONNEL MAT… 011-1500-6112 114.33 MEYERS NAVE, A PROFESSIO… 215582 04/11/2024 SEA LANDING LP V LOS ALTOS… 011-3100-6199 805.76 MEYERS NAVE, A PROFESSIO… 214289 04/25/2024 CCAG JPA PREPARATOPM AM… 011-1500-6112 647.87 MEYERS NAVE, A PROFESSIO… 214290 04/25/2024 HOUSING ELEMENT UPDATE … 011-3100-6111 114.33 MEYERS NAVE, A PROFESSIO… 214292 04/25/2024 SB 9 IMPLEMENTATION ORDI… 011-3100-6111 1,791.17 MEYERS NAVE, A PROFESSIO… 214293 04/25/2024 1/2024 BILLABLE LEGAL SVCS-… 011-0000-2301 3,057.04
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 7 of 16
Vendor Name Payable Number Post Date Description (Item) Account Number Amount MEYERS NAVE, A PROFESSIO… 214293 04/25/2024 1/2024 ADMIN FEE LEGAL SVC…011-0000-2301 305.70 MEYERS NAVE, A PROFESSIO… 214293 04/25/2024 1/2024 RECOG ADMIN FEE LE… 011-0000-4685 -305.70 MEYERS NAVE, A PROFESSIO… 214293 04/25/2024 1/2024 PASSTHRU REV LEGAL …011-3100-4702 -3,057.04 MEYERS NAVE, A PROFESSIO… 214293 04/25/2024 1/2024 PASSTHRU EXP LEGAL …011-3100-6177 3,057.04 MEYERS NAVE, A PROFESSIO… 214294 04/25/2024 1/2024 BILLABLE LEGAL SVCS-… 011-0000-2301 1,071.20 MEYERS NAVE, A PROFESSIO… 214294 04/25/2024 1/2024 ADMIN FEE LEGAL SVC…011-0000-2301 107.12 MEYERS NAVE, A PROFESSIO… 214294 04/25/2024 1/2024 RECOG ADMIN FEE LE… 011-0000-4685 -107.12 MEYERS NAVE, A PROFESSIO… 214294 04/25/2024 1/2024 PASSTHRU REV LEGAL …011-3100-4702 -1,071.20 MEYERS NAVE, A PROFESSIO… 214294 04/25/2024 1/2024 PASSTHRU EXP LEGAL …011-3100-6177 1,071.20 MEYERS NAVE, A PROFESSIO… 214295 04/25/2024 1/2024 ADMIN FEE LEGAL SVC…011-0000-2301 107.12 MEYERS NAVE, A PROFESSIO… 214295 04/25/2024 1/2024 BILLABLE LEGAL SVCS-… 011-0000-2301 1,071.20 MEYERS NAVE, A PROFESSIO… 214295 04/25/2024 1/2024 RECOG ADMIN FEE LE… 011-0000-4685 -107.12 MEYERS NAVE, A PROFESSIO… 214295 04/25/2024 1/2024 PASSTHRU REV LEGAL …011-3100-4702 -1,071.20 MEYERS NAVE, A PROFESSIO… 214295 04/25/2024 1/2024 PASSTHRU EXP LEGAS …011-3100-6177 1,071.20 MEYERS NAVE, A PROFESSIO… 214296 04/25/2024 1/2024 ADMIN FEE LEGAL SV… 011-0000-2301 271.51 MEYERS NAVE, A PROFESSIO… 214296 04/25/2024 1/2024 BILLABLE LEGAL SVCS-… 011-0000-2301 2,715.08 MEYERS NAVE, A PROFESSIO… 214296 04/25/2024 1/2024 RECOG ADMIN FEE L… 011-0000-4685 -271.51 MEYERS NAVE, A PROFESSIO… 214296 04/25/2024 1/2024 PASSTHRU REV LEGAL …011-3100-4702 -2,715.08 MEYERS NAVE, A PROFESSIO… 214296 04/25/2024 1/2024 PASSTHRU EXP LEGAL …011-3100-6177 2,715.08 MEYERS NAVE, A PROFESSIO… 214298 04/25/2024 LABOR AND PERSONNEL MAT… 011-1500-6112 190.55 MEYERS NAVE, A PROFESSIO… 214299 04/25/2024 1/2024 ADMIN FEE REV LEGAL…011-0000-2301 32.96 MEYERS NAVE, A PROFESSIO… 214299 04/25/2024 1/2024 BILLABLE LEGAL SVCS-… 011-0000-2301 329.60 MEYERS NAVE, A PROFESSIO… 214299 04/25/2024 1/2024 RECOG ADMIN FEE RE… 011-0000-4685 -32.96 MEYERS NAVE, A PROFESSIO… 214299 04/25/2024 1/2024 PASSTHRU REV LEGAL …011-3100-4702 -329.60 MEYERS NAVE, A PROFESSIO… 214299 04/25/2024 1/2024 PASSTHRU EXP LEGAL …011-3100-6177 329.60 MEYERS NAVE, A PROFESSIO… 214300 04/25/2024 SEA LANDING LP V LAH THRU … 011-3100-6111 1,764.91 MEYERS NAVE, A PROFESSIO… 216690 04/25/2024 Monthly Basic General Counse…011-1500-6201 6,732.50 MEYERS NAVE, A PROFESSIO… 214288 04/25/2024 SHOUP CONNECTOR TRAIL PR… 042-6900-6201 2,667.70 Vendor MEYERS94607 - MEYERS NAVE, A PROFESSIONAL CORPORATION Total: 38,591.24 Vendor: MICHAEL01 - MICHAEL BAKER INTERNATIONAL INC.
MICHAEL BAKER INTERNATIO… 1194731 04/11/2024 New MultiFamily Zone- Conti… 041-6900-6199 4,270.00 MICHAEL BAKER INTERNATIO… 1205696 04/11/2024 Housing Element -New MultiF… 041-6900-6199 4,100.00 MICHAEL BAKER INTERNATIO… 1208111 04/11/2024 Housing Element -New MultiF… 041-6900-6199 23,800.00 Vendor MICHAEL01 - MICHAEL BAKER INTERNATIONAL INC. Total: 32,170.00 Vendor: MISSION01 - MissionSquare
MissionSquare PLAN# 100276 4.5.24 04/11/2024 PLAN# 100276 4.5.24 401 ER … 061-0000-2204 2,646.83 MissionSquare PLAN# 100316 4.5.24 04/11/2024 PLAN 061-0000-2204 6,025.80 MissionSquare PLAN# 304465 4.5.24 04/11/2024 PLAN# 304465 4.5.24 061-0000-2204 11,052.53 MissionSquare PLAN#100276 4.19.24 04/25/2024 PLAN#100276 4.19.24 401ER … 061-0000-2204 2,646.83 MissionSquare PLAN#100316 4.19.24 04/25/2024 PLAN#100316 4.19.24 40E-40… 061-0000-2204 6,117.01 MissionSquare PLAN#304465 4.19.24 04/25/2024 PLAN#304465 4.19.24 ICMA 4… 061-0000-2204 13,381.95 Vendor MISSION01 - MissionSquare Total: 41,870.95
Vendor: MRG94526 - MUNICIPAL RESOURCE GROUP, LLC
MUNICIPAL RESOURCE GROUP…240416 04/11/2024 Public Safety Consulting Servi… 021-6100-6199 3,770.00 MUNICIPAL RESOURCE GROUP…240429 04/11/2024 Public Safety Consulting Servi… 021-6100-6199 10,190.66 Vendor MRG94526 - MUNICIPAL RESOURCE GROUP, LLC Total: 13,960.66 Vendor: NBS92592 - NBS GOVERNMENT FINANCE GROUP
NBS GOVERNMENT FINANCE … 202403-1456 04/12/2024 AUDIT & FINANCIAL - WEST L… 031-0100-6203 1,290.47 Vendor NBS92592 - NBS GOVERNMENT FINANCE GROUP Total: 1,290.47 Vendor: PGE95899 - P G & E
P G & E 4405682412-9 4.17.24 04/25/2024 #4402054371-Traffic Control… 011-4600-6363 33.74 P G & E 4405682412-9 4.17.24 04/25/2024 #4403326121-Traffic Control … 011-4600-6363 48.09 P G & E 4405682412-9 4.17.24 04/25/2024 #4405844999-Traffic Control … 011-4600-6363 48.41 P G & E 4405682412-9 4.17.24 04/25/2024 #4405682213-26379 Fremont… 011-4600-6363 64.16 P G & E 4405682412-9 4.17.24 04/25/2024 #4401266601-Traffic Control… 011-4600-6363 67.51 P G & E 4405682412-9 4.17.24 04/25/2024 #4401767901-Traffic Control … 011-4600-6363 89.94 P G & E 4405682412-9 4.17.24 04/25/2024 #7451396002-26379 Fremont… 011-4600-6363 101.31 P G & E 4405682412-9 4.17.24 04/25/2024 #4405272653-Traffic Control … 011-4600-6363 21.52 P G & E 4405682412-9 4.17.24 04/25/2024 #4405682180-28002 Purissima…051-4800-6363 592.88
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 8 of 16
Vendor Name Payable Number Post Date Description (Item) Account Number Amount P G & E 4405682412-9 4.17.24 04/25/2024 #4405682799-28002 Purissima…051-4800-6363 328.05 P G & E 4405682412-9 4.17.24 04/25/2024 #4405682171-O'Keefe Ln @ D…051-4800-6363 -2.57 P G & E 4405682412-9 4.17.24 04/25/2024 #4405682038-O'Keefe Ln @ D…051-4800-6363 15.64 P G & E 4405682412-9 4.17.24 04/25/2024 #4407614003-26379 Fremont… 061-1480-6363 16.54 P G & E 4405682412-9 4.17.24 04/25/2024 #4405682220-26379 Fremont… 061-1480-6363 220.15 P G & E 4405682412-9 4.17.24 04/25/2024 #4402300500-26379 Fremont… 061-1480-6363 20.35 P G & E 4405682412-9 4.17.24 04/25/2024 #4406093432-26375 Fremont… 061-1480-6363 906.50 P G & E 4405682412-9 4.17.24 04/25/2024 #4405682864-26379 Fremont… 061-1480-6363 1,566.81 P G & E 4405682412-9 4.17.24 04/25/2024 #4405682301-26375 Fremont… 061-1480-6363 43.63 P G & E 4405682412-9 4.17.24 04/25/2024 #4407077119-26379 Fremont… 061-1480-6363 16.22 P G & E 4405682412-9 4.17.24 04/25/2024 #4402032093-26379 Fremont… 061-1480-6363 95.26 P G & E 4405682412-9 4.17.24 04/25/2024 #4402680322-27535 Purissima…061-4300-6363 46.15 P G & E 4405682412-9 4.17.24 04/25/2024 #4405682318-27535 Purissima…061-4300-6363 94.32 P G & E 4405682412-9 4.17.24 04/25/2024 #4405682820-27400 Purissima…061-4300-6363 128.92 P G & E 4405682412-9 4.17.24 04/25/2024 #4405682320-27400 Purissima…061-4300-6363 181.14 Vendor PGE95899 - P G & E Total: 4,744.67
Vendor: PALAMERICAN33716 - PALAMERICAN SECURITY (SILICON VALLEY) INC PALAMERICAN SECURITY (SILI… 116983 04/25/2024 UNARMED OFFICER 3/31/24-4…011-2100-6199 11,650.50 PALAMERICAN SECURITY (SILI… 117749 04/25/2024 UNARMED OFFICER 4/7/24-4/…011-2100-6199 21,883.50 Vendor PALAMERICAN33716 - PALAMERICAN SECURITY (SILICON VALLEY) INC Total: 33,534.00 Vendor: PaloAlto94306 - PALO ALTO SHELL
PALO ALTO SHELL 8114553 04/12/2024 SMOG CHECK LIC#1206755 061-4400-6318 61.75 PALO ALTO SHELL 8114554 04/12/2024 SMOG CHECK LIC#1285828 061-4400-6318 61.75 PALO ALTO SHELL 8114622 04/12/2024 SMOG CHECK LIC#1157581 061-4400-6318 86.75 Vendor PaloAlto94306 - PALO ALTO SHELL Total: 210.25
Vendor: PARADISE02 - PARADISE POOLS AND GARDENS
PARADISE POOLS AND GARDE… BLD19-0393 FD 04/25/2024 REFUND DEPOSIT 11871 HILL… 011-0000-2303 2,700.00 PARADISE POOLS AND GARDE… BLD20-0313 04/25/2024 REFUND DEPOSIT 12255 MEN… 011-0000-2303 1,575.00 Vendor PARADISE02 - PARADISE POOLS AND GARDENS Total: 4,275.00 Vendor: PARAGON94520 - PARAGON ROOFING AND REMODELING
PARAGON ROOFING AND RE… BLD24-0180 04/25/2024 BO32SMIP COMMERCIAL - BL… 011-0000-2002 5.85 Vendor PARAGON94520 - PARAGON ROOFING AND REMODELING Total: 5.85 Vendor: PETS01 - PETS IN NEED
PETS IN NEED 4/11/24 04/25/2024 HOPPIN' HOUNDS ONLINE&O… 011-4120-6361 1,486.00 Vendor PETS01 - PETS IN NEED Total: 1,486.00
Vendor: PGE01 - PG&E
PG&E EP23-0064 04/12/2024 REFUND DEPOSIT 23375 CAM… 011-0000-2301 309.00 PG&E EP23-0092 04/12/2024 REFUND DEPOSIT 23230 RAV… 011-0000-2301 309.00 PG&E EP23-0097 04/12/2024 REFUND DEPOSIT 23230 RAV… 011-0000-2301 309.00 PG&E EP23-0100 04/12/2024 REFUND DEPOSIT 25890 FRE… 011-0000-2301 309.00 Vendor PGE01 - PG&E Total: 1,236.00
Vendor: PHOENIX02 - PHOENIX ELECTRIC COMPANY
PHOENIX ELECTRIC COMPANY 1167-PEC-SANITARY SE 04/12/2024 SEWER REHABILITATION WOR…048-6900-6625 59,143.74 PHOENIX ELECTRIC COMPANY 1165--MARCH2024.R1 04/25/2024 2023 EMERGENCY SEWAGE P… 048-6900-6625 18,186.00 PHOENIX ELECTRIC COMPANY 1188_MARCH2024_R1 04/25/2024 2024 MINOR SANITARY SEWER…048-6900-6625 46,425.00 Vendor PHOENIX02 - PHOENIX ELECTRIC COMPANY Total: 123,754.74 Vendor: PINPOINT01 - PINPOINT TALENT, LLC
PINPOINT TALENT, LLC 7836 04/11/2024 PPT TEMP SVCS MSIULANGAP… 011-1400-6111 1,980.00 PINPOINT TALENT, LLC 7845 04/11/2024 PPT TEMP SVCS MSIULANGAP… 011-1400-6111 1,584.00 PINPOINT TALENT, LLC 7865 04/25/2024 PPT TEMP SVCS MSIULANGAP… 011-1400-6111 1,782.00 PINPOINT TALENT, LLC 7890 04/25/2024 PPT TEMP SVCS MSIULANGAP… 011-1400-6111 1,980.00 Vendor PINPOINT01 - PINPOINT TALENT, LLC Total: 7,326.00 Vendor: PITNEY15250 - PITNEY BOWES INC
PITNEY BOWES INC 10961328 4.14.24 04/25/2024 #8000-9000-1096-1328 POST… 061-1480-6303 400.00 Vendor PITNEY15250 - PITNEY BOWES INC Total: 400.00
Vendor: V0980 - PURISSIMA HILLS WATER
PURISSIMA HILLS WATER MAR2023-2498 04/12/2024 26379 FREMONT RD-HERITAG…061-1480-6364 105.20
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 9 of 16
Vendor Name Payable Number Post Date Description (Item) Account Number Amount PURISSIMA HILLS WATER MAR2023-2501 04/12/2024 27400 PURISSIMA RD - CORP … 061-4300-6364 26.82 PURISSIMA HILLS WATER MAR2023-3760 04/12/2024 26379 FREMONT RD-RECREAT…061-1480-6364 7.54 PURISSIMA HILLS WATER MAR2023-4523 04/12/2024 FREMONT RD PATHWAY IRRI… 011-4740-6364 8.24 PURISSIMA HILLS WATER MAR2023-4643 04/12/2024 ARASTRADERO C2 PATHWAY I…011-4740-6364 6.30 PURISSIMA HILLS WATER MAR2024-2493 04/12/2024 STONEBROOK AVE @ EL MON… 061-4300-6364 13.04 PURISSIMA HILLS WATER 0059 04/25/2024 BACKFLOW TESTING FEE 3.11.…051-4800-6364 188.00 Vendor V0980 - PURISSIMA HILLS WATER Total: 355.14
Vendor: QUITCARBON01 - QUITCARBON INC
QUITCARBON INC QC-128 04/11/2024 HOME ELECTRIFICATION PLAN…011-3200-6199 2,450.00 Vendor QUITCARBON01 - QUITCARBON INC Total: 2,450.00
Vendor: DAILEY01 - RJ DAILEY
RJ DAILEY BLD19-0219 ELEC&GAS 04/25/2024 REFUND DEPOSIT 12255 MEN… 011-0000-2303 20,000.00 RJ DAILEY BLD19-0219 ELEC&GAS 04/25/2024 REFUND DEPOSIT 12255 MEN… 011-0000-2303 40,000.00 Vendor DAILEY01 - RJ DAILEY Total: 60,000.00
Vendor: SCCSHERIFF - SANTA CLARA COUNTY SHERIFF'S DEPT
SANTA CLARA COUNTY SHERI… 1800089328 04/11/2024 APRIL 2024 SERVICES 011-2100-6152 205,605.58 Vendor SCCSHERIFF - SANTA CLARA COUNTY SHERIFF'S DEPT Total: 205,605.58 Vendor: SCARLET01 - SCARLET, LESLIE - AT&T
SCARLET, LESLIE - AT&T EP22-0021 04/12/2024 REFUND DEPOSIT 27850 VIA F… 011-0000-2301 309.00 Vendor SCARLET01 - SCARLET, LESLIE - AT&T Total: 309.00 Vendor: SHARP_JPA - SHARED AGENCY RISK POOL
SHARED AGENCY RISK POOL INV00020 04/11/2024 2023-24 Q4 MEMBER CONTRI… 061-1470-6029 25,088.00 Vendor SHARP_JPA - SHARED AGENCY RISK POOL Total: 25,088.00 Vendor: SHARP91185 - SHARP BUSINESS SYSTEMS
SHARP BUSINESS SYSTEMS 9004788579 04/11/2024 CONTR#8020129735 #102455…061-1480-6402 415.82 Vendor SHARP91185 - SHARP BUSINESS SYSTEMS Total: 415.82 Vendor: SMELLY01 - SMELLY MEL'S PLUMBING INC.
SMELLY MEL'S PLUMBING INC. 37751864 04/25/2024 SEWER REPLMNT-INSTALL 6 I… 043-6900-6622 11,500.00 SMELLY MEL'S PLUMBING INC. 40984515 04/25/2024 INSTALL 6-INCH PVC DRAIN LI… 043-6900-6622 17,750.00 Vendor SMELLY01 - SMELLY MEL'S PLUMBING INC. Total: 29,250.00 Vendor: STAPLES30348 - STAPLES BUSINESS CREDIT
STAPLES BUSINESS CREDIT 7628857852-001 04/11/2024 OFFICE SUPPLIES 3/19/24 011-1200-6301 129.74 STAPLES BUSINESS CREDIT 7628858238-001 04/11/2024 OFFICE SUPPLIES 3/169/24 011-1200-6301 259.48 STAPLES BUSINESS CREDIT 7629238494-001 04/11/2024 OFFICE SUPPLIES 3/25/24 061-1480-6301 73.59 STAPLES BUSINESS CREDIT 7905663718-001 04/11/2024 OFFICE SUPPLIES 3/6/24 061-1480-6301 211.53 Vendor STAPLES30348 - STAPLES BUSINESS CREDIT Total: 674.34 Vendor: STATCOMM01 - STATCOMM INC
STATCOMM INC 12597887 04/12/2024 TOWN HALL FIRE MONITORING 061-1480-6118 111.00 Vendor STATCOMM01 - STATCOMM INC Total: 111.00
Vendor: WU10 - STEVEN WU
STEVEN WU BLD21-0456 04/12/2024 REFUND DEPOSIT 24151 DA… 011-0000-2303 900.00 Vendor WU10 - STEVEN WU Total: 900.00
Vendor: SUN64180 - SUN LIFE
SUN LIFE 925773-0001 4.16.24 04/25/2024 POLICY#925773-0001 EMPLO… 061-0000-2225 624.65 SUN LIFE 925773-0001 4.16.24 04/25/2024 POLICY#925773-0001 EMPLO… 061-0000-2225 80.60 SUN LIFE 925773-0001 4.16.24 04/25/2024 POLICY#925773-0001 EMPLO… 061-0000-2226 923.30 Vendor SUN64180 - SUN LIFE Total: 1,628.55
Vendor: SUNPOWER94804 - SUNPOWER SYSTEMS CORPORATION
SUNPOWER SYSTEMS CORPO… BLD24-0179 04/25/2024 BO32 SMIP COMMERCIAL - B… 011-0000-2002 16.97 Vendor SUNPOWER94804 - SUNPOWER SYSTEMS CORPORATION Total: 16.97 Vendor: ST.LEDGER01 - SUSAN ST. LEDGER
SUSAN ST. LEDGER BLD19-0219 04/25/2024 REFUND DEPPOSIT 12255 ME… 011-0000-2303 14,406.26 Vendor ST.LEDGER01 - SUSAN ST. LEDGER Total: 14,406.26
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 10 of 16
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: TESLA01 - TESLA ENERGY
TESLA ENERGY BLD22-0020-FD 04/25/2024 REFUND DEPOSIT 27474 SUNR…011-0000-2303 1,134.00 Vendor TESLA01 - TESLA ENERGY Total: 1,134.00
Vendor: TRIPEPI01 - TRIPEPI, SMITH AND ASSOCIATES, INC
TRIPEPI, SMITH AND ASSOCIA… 12144 04/25/2024 For media and communication…011-1100-6199 2,637.50 Vendor TRIPEPI01 - TRIPEPI, SMITH AND ASSOCIATES, INC Total: 2,637.50 Vendor: CRAFTSMEN95119 - UNITED CRAFTSMEN INC
UNITED CRAFTSMEN INC 12202 04/25/2024 PRINTING OF 3,075 POSTCAR… 011-1100-6207 2,504.53 Vendor CRAFTSMEN95119 - UNITED CRAFTSMEN INC Total: 2,504.53 Vendor: UNITED85072 - UNITED SITE SERVICES INC
UNITED SITE SERVICES INC 114-13830125 04/11/2024 DELUXE RM, DELUXE RM SVC,… 011-4120-6361 232.49 UNITED SITE SERVICES INC INV-4426984 04/25/2024 4/1624-5/13/24 @27210 ALT… 011-5300-6398 64.92 Vendor UNITED85072 - UNITED SITE SERVICES INC Total: 297.41 Vendor: USBANK63179 - US BANK EQUIPMENT FINANCE
US BANK EQUIPMENT FINANCE 526431200 04/11/2024 POOL5 BLK&WHITE 500-0698… 061-1480-6402 1,331.78 Vendor USBANK63179 - US BANK EQUIPMENT FINANCE Total: 1,331.78 Vendor: VDE94041 - VICTORIA DYE EQUESTRIAN, LLC
VICTORIA DYE EQUESTRIAN, L… 12483 04/11/2024 WATER REIMBURSEMENT 50%…011-5300-6364 691.75 VICTORIA DYE EQUESTRIAN, L… 12625 04/25/2024 WATER REIMBURSEMENT 50%…011-5300-6364 345.87 Vendor VDE94041 - VICTORIA DYE EQUESTRIAN, LLC Total: 1,037.62 Vendor: VSP94145 - VISION SERVICE PLAN INSURANCE CO
VISION SERVICE PLAN INSURA… 820324621 04/25/2024 VISION SERVICE PLAN FOR M… 061-0000-2233 434.00 Vendor VSP94145 - VISION SERVICE PLAN INSURANCE CO Total: 434.00 Vendor: WF_VISA60197 - WELLS FARGO - VISA
WELLS FARGO - VISA 1322 4.3.24 04/03/2024 LOS ALTOS CHAMER OF COM… 011-1100-6308 700.00 WELLS FARGO - VISA 1322 4.3.24 04/03/2024 STARBUCKS COFFEE FOR BUD… 011-1200-6308 20.00 WELLS FARGO - VISA 1322 4.3.24 04/03/2024 LULU'S ON MAIN BUDGET RE… 011-1200-6308 520.53 WELLS FARGO - VISA 1322 4.3.24 04/03/2024 MMANC NETWORKING/TRAIN…011-1200-6309 20.00 WELLS FARGO - VISA 1322 4.3.24 04/03/2024 NATIONAL BUSINESS WORKS… 061-1480-6208 599.20 WELLS FARGO - VISA 1322 4.3.24 04/03/2024 AMAZON DOCKING STATIONS… 061-1480-6208 640.67 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 PHO CABIN LNCH WITH D CO… 011-1200-6308 45.80 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 CAFE NUR TRVL&MEETING AI… 011-1200-6308 81.21 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 CAFE NUR TRVL&MTG: PERFO… 011-1200-6308 64.83 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 HULU SUBSCRIPTIONS 011-1200-6338 81.99 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 SJ MERCURY NEWS SUBSCRIPT…011-1200-6338 31.97 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 AMAZON FINANCE ADMIN HE… 011-1400-6301 24.00 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 AMAZON TOWN CENTER: OT… 061-1480-6398 104.60 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 AMAZON TOWN CENTER: OT… 061-1480-6398 53.79 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 AMAZON TOWN CENTER: OT… 061-1480-6398 52.91 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 AMAZON TOWN CENTER: OT… 061-1480-6398 49.89 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 AMAZON TOWN CENTER: GE… 061-1480-6398 138.76 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 AMAZON TOWN CENTER: OT… 061-1480-6398 89.19 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 AMAZON TOWN CENTER: OT… 061-1480-6398 77.47 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 AMAZON TOWN CENTER: OT… 061-1480-6398 41.52 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 AMAZON TOWN CENTER: OT… 061-1480-6398 61.59 WELLS FARGO - VISA 3293 4.3.24 04/03/2024 AMAZON TOWN CENTER: OT… 061-1480-6398 11.73 WELLS FARGO - VISA 6429 4.3.24 04/03/2024 TMT ENTERPRISES PAST DUE … 011-5100-6122 47.51 WELLS FARGO - VISA 6429 4.3.24 04/03/2024 APWA M SCHLOETTER APWA … 061-4300-6302 238.00 WELLS FARGO - VISA 6429 4.3.24 04/03/2024 APWA GRANDS AND FACILITIE…061-4300-6309 150.00 WELLS FARGO - VISA 6429 4.3.24 04/03/2024 AMAZON COVER FOR BUCKET… 061-4400-6399 141.85 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 NEWEGG MARKETPLACE OFFI… 011-1100-6301 134.47 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 HP STORE OFFICE SUPPLIES-E… 011-1100-6301 445.16 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 CAFE NUR CITY COUNCIL REG… 011-1100-6308 105.20 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 HARWARD BUS HBR ORG CITY…011-1100-6312 74.96 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 CONSTANT CONTACT SUBSCR… 011-1100-6338 1,141.00 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 MICHAELS STORES PROCLAM… 011-1100-6361 49.75 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 ZOOM SUBSCRIPTIONS 011-1100-6398 80.40 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 CAFE NUR DINNIER MARCH CC…011-1200-6308 348.90
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 11 of 16
Vendor Name Payable Number Post Date Description (Item) Account Number Amount WELLS FARGO - VISA 6725 4.3.24 04/03/2024 CREDIT CARD 1042 4.3.24 (RE… 011-1200-6338 -1,141.00 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 CITY CLERKS ASSC. INST&TRNG…011-1300-6309 100.00 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 CITY CLERKS ASSOC INSTR&T… 011-1300-6309 400.00 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 PAYPAL; VISIONEERCO INSTR.… 011-1300-6309 60.00 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 OCCUSCREEN LLC PLANNING … 011-1480-6332 186.00 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 ZOOM SUBSCRIPTIONS-ENVIR… 011-1700-6398 80.41 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 ZOOM SUBSCRIPTIONS-HISTO… 011-1700-6398 80.40 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 ZOOM SUBSCRIPTIONS-COM… 011-1700-6398 80.40 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 ZOOM SUBSCRIPTIONS-PATH… 011-1700-6398 80.41 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 ZOOM SUBSCRIPTIONS-FINAN…011-1700-6398 80.41 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 DOORDASH, MENDOCINO FA… 011-3100-6308 228.36 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 ZOOM SUBSCRIPTIONS 011-3110-6398 80.40 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 INT'L CODE COUNCIL INC-INS… 011-3200-6309 240.00 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 AMAZON TOWN CENTER: OFF… 061-1480-6301 16.31 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 DOORDASH LEBOULANGER-R… 061-1480-6332 100.22 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 DOORDASH, THE PASTA MAR… 061-1480-6361 430.85 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 SAFEWAY SPECIAL EVENTS (JE… 061-1480-6361 83.43 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 CREDIT CARD 9057 4.3.24 (RE… 061-1480-6398 -500.00 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 AMAZON TOWN CENTER OTH… 061-1480-6398 366.07 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 CREDIT CARD 9057 4.3.24 (RE… 061-1480-6398 -9.49 WELLS FARGO - VISA 6725 4.3.24 04/03/2024 AMAZON TOWN CENTER OTH… 061-1480-6398 56.74 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 FASTRACK VIOLATION CRSSIN… 011-1000-6308 7.00 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 SMART AND FINAL GAME NIG… 011-1700-6398 182.32 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 AMAZON GAME NIGHT GAMES 011-1700-6398 152.14 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 AMAZON GAME NIGHT GAMES 011-1700-6398 31.88 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 SAFEWAY GAME NIGHT SNAC… 011-1700-6398 31.04 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 AMAZON GAME NIGHT GAME…011-1700-6398 -5.34 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 AMAZON GAME NIGHT GAME…011-1700-6398 -63.57 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 AMAZON GAME NIGHT GAMES 011-1700-6398 9.26 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 AMAZON GAME NIGHT GAME…011-1700-6398 -23.17 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 AMAZON SUPPLIES FOR HOPP…011-4120-6361 29.45 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 FACEBOOK ADVERTISEMENT … 011-4120-6361 20.35 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 DOLLAR TREE EXTRA DOG BA… 011-4120-6361 10.94 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 MICHAELS SUPPLIES FOR HOP… 011-4120-6361 31.60 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 STARBUCKS COFFEE TRAVELER…011-4120-6361 60.00 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 FACEBOOK ADVERTISEMENT … 011-4120-6361 7.20 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 MICHAELS SUPPLIES FOR HOP… 011-4120-6361 -10.93 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 HAPPY DONUTS FOR HOPPIN … 011-4120-6361 75.71 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 WORDPRESS WESITE LAPHAT… 011-4120-6361 96.00 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 DOLLAR TREE EXTRA DOG BA… 011-4120-6361 9.55 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 PARTY WITH 360 INFLATABLE … 011-4120-6361 536.25 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 COSTCO EXTRA DOG BISCUITS… 011-4120-6361 30.53 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 AMAZON BUNNY REPLACEME… 011-4120-6361 198.12 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 WRODPRESS WEBSITE RENE… 011-4120-6361 48.00 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 FACEBOOK PATHWAYS RUN A… 011-4120-6361 53.00 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 FACEBOOK ADVERSTISEMENT …011-4120-6361 53.00 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 MICHAELS SUPPLIES FOR HOP… 011-4120-6361 10.93 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 COSTCO BUDGET RETREAT SN… 061-1480-6311 408.40 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 SAFEWAY GRANOLA FOR BUD… 061-1480-6311 4.09 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 TARGET JEREMY LOH CARD/… 061-1480-6361 9.91 WELLS FARGO - VISA 7105 4.3.24 04/03/2024 SMART AND FINAL 061-1480-6361 67.40 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 GOV. FINANCE OFFICE ASSOC.… 011-1400-6309 150.00 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 TICKETLEAP MAR-24 APWA A… 011-3300-6308 150.00 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 CREPES OF BRITTANY BRKFAST…011-3300-6308 23.41 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 PORTOLA HOTEL&SPA MONT… 011-3300-6308 833.73 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 PORTOLA HOTEL&SPA MONT… 011-3300-6308 52.27 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 KUMA SUSHI DINNER FOR LE… 011-3300-6308 55.44 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 SANDBAR&GRILL MONTEREY … 011-3300-6308 62.15 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 PHO CABIN PUBLIC WORKS M… 011-3300-6308 41.00 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 DOORDASH IKEA LOVES PUBLI…011-3300-6308 208.27
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 12 of 16
Vendor Name Payable Number Post Date Description (Item) Account Number Amount WELLS FARGO - VISA 8836 4.3.24 04/03/2024 AMAZON.COM RETURN RAIN … 011-3300-6311 -240.06 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 AMAZON.COM RETURN (2) RA…011-3300-6311 -122.68 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 SP WORKWORD.COM SAFETY… 011-3300-6325 125.49 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 MSC SAFETY GEAR - BIBS FOR… 011-3300-6325 109.54 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 REI.COM SAFETY TRACKING S… 011-3300-6325 108.83 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 SP WORKWORD.COM SAFETY… 011-3300-6325 -376.45 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 AMAZON.COM RETURN RAIN … 011-3300-6325 -57.93 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 AMAZON.COM RETURN RAIN … 011-3300-6325 -57.93 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 REI SARATOGA SAFETY SHOE … 011-3300-6325 -104.47 WELLS FARGO - VISA 8836 4.3.24 04/03/2024 AMAZON.COM IPHONE CHAR… 011-3300-6398 42.80 Vendor WF_VISA60197 - WELLS FARGO - VISA Total: 10,643.24 Vendor: WESTBAY94025 - WEST BAY SANITARY DISTRICT
WEST BAY SANITARY DISTRICT 2023/24-076 04/11/2024 Sewer Maintenance Svcs 051-4800-6140 47,220.11 WEST BAY SANITARY DISTRICT 2023/24-078 04/25/2024 Sewer Maintenance Svcs 051-4800-6140 45,968.35 Vendor WESTBAY94025 - WEST BAY SANITARY DISTRICT Total: 93,188.46 Vendor: WOODARD01 - WOODARD & CURRAN, INC
WOODARD & CURRAN, INC 228197-1 04/25/2024 12/2023 ADMIN FEE CONTRA… 011-0000-2301 109.68 WOODARD & CURRAN, INC 228197-1 04/25/2024 12/2023 BILLABLE CONTRACT …011-0000-2301 1,096.75 WOODARD & CURRAN, INC 228197-1 04/25/2024 12/2023 RECOG ADMIN FEE C… 011-0000-4685 -109.68 WOODARD & CURRAN, INC 228197-1 04/25/2024 12/2023 PASSTHRU REV CON… 011-3300-4705 -1,096.75 WOODARD & CURRAN, INC 228197-1 04/25/2024 12/2023 PASSTHRU EXP CON… 011-3300-6179 1,096.75 Vendor WOODARD01 - WOODARD & CURRAN, INC Total: 1,096.75 Vendor: YACOBELLIS94941 - YACOBELLIS, DEBORAH
YACOBELLIS, DEBORAH LAH2403 04/12/2024 CALL WITH JAY RPT: EATON RE…011-3200-6209 787.50 Vendor YACOBELLIS94941 - YACOBELLIS, DEBORAH Total: 787.50 Grand Total: 1,245,272.01
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 13 of 16
Report Summary
Fund Summary
Fund Payment Amount
011 - GENERAL FUND 642,107.71
021 - COPS FUND 13,960.66
031 - SEWER ASSESSMENT DISTRICT 1,290.47
041 - GENERAL CIP FUND 125,786.86
042 - PATHWAYS CIP 3,731.45
043 - WESTWIND BARN CIP ADMIN 29,250.00
045 - DRAINAGE CIP 11,970.25
046 - STREET CIP 6,105.00
048 - SEWER FUND CIP 207,450.96
051 - SEWER FUND 94,398.70
061 - GENERAL SERVICE FUND 109,219.95
Grand Total: 1,245,272.01
Account Summary
Account Number Account Name Payment Amount
011-0000-1110 Receivable - Miscellaneo… 5,377.18
011-0000-2002 Strong Motion Impl Pay… 42.57
011-0000-2004 SB 1473 - Fee Payable 2.00
011-0000-2301 Planning Deposits 36,311.94
011-0000-2303 Bond Deposits 92,169.92
011-0000-4685 Administrative Charge -3,784.70
011-1000-6308 Travel & Meetings 7.00
011-1100-6199 Other Contract Services 4,137.50
011-1100-6207 Advertising/Publishing 2,504.53
011-1100-6301 Office Supplies 579.63
011-1100-6304 Printing, copying & scann… 6,250.00
011-1100-6308 Travel & Meetings 857.54
011-1100-6312 Books/Films/Publications 74.96
011-1100-6338 Data Service Subscriptio… 1,141.00
011-1100-6361 Special Events & Awards 1,084.75
011-1100-6398 Other General Expense 80.40
011-1200-6301 Office Supplies 389.22
011-1200-6302 City Membership 1,200.00
011-1200-6308 Travel & Meetings 1,081.27
011-1200-6309 Instruction & Training 20.00
011-1200-6338 Data Service Subscriptio… -1,027.04
011-1200-6398 Other General Expense 9,749.91
011-1300-6207 Advertising/Publishing 137.50
011-1300-6309 Instruction & Training 560.00
011-1400-6111 Contract Personnel 16,526.00
011-1400-6301 Office Supplies 24.00
011-1400-6302 City Membership 4,245.00
011-1400-6309 Instruction & Training 150.00
011-1480-6332 Town Recruitment 186.00
011-1500-6112 Legal - Special Projects 952.75
011-1500-6201 Legal - City Attorney 21,344.10
011-1700-6361 Special Events & Awards 142.19
011-1700-6398 Other General Expense 716.59
011-2100-6152 Law Enforcement 205,605.58
011-2100-6199 Other Contract Services 67,374.18
011-2100-6362 Telephone 261.98
011-2150-6134 Animal Control 53,714.80
011-3100-4702 Attorney's Fees -9,150.52
011-3100-4703 Contract Planner Charge… -416.25
011-3100-4707 Contract Geologist Char… -8,331.35
011-3100-6111 Contract Personnel 4,179.16
011-3100-6176 Prof Planner Svcs, Billable 416.25
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 14 of 16
Account Summary
Account Number Account Name Payment Amount
011-3100-6177 Attorney Fees - Billable 9,150.52
011-3100-6178 Geologist Charges - Billab… 8,331.35
011-3100-6199 Other Contract Services 6,015.76
011-3100-6304 Printing, copying & scann… 8,539.82
011-3100-6308 Travel & Meetings 228.36
011-3110-6308 Travel & Meetings 241.11
011-3110-6398 Other General Expense 80.40
011-3200-4301 Building Permits 375.00
011-3200-4311 Plan Retention Fees 75.00
011-3200-6199 Other Contract Services 77,277.82
011-3200-6209 Other Program & Proj C… 787.50
011-3200-6304 Printing, copying & scann… 106.09
011-3200-6309 Instruction & Training 480.00
011-3300-4705 Engineer's Charges - Con… -11,828.75
011-3300-6175 Contract Services - Billab… 8,120.00
011-3300-6179 Engineering Chrgs - Billab… 3,708.75
011-3300-6308 Travel & Meetings 1,426.27
011-3300-6311 Training & Safety -362.74
011-3300-6325 Safety Gear -252.92
011-3300-6398 Other General Expense 42.80
011-4120-6361 Special Events & Awards 3,360.69
011-4120-6398 Other General Expense 713.70
011-4600-6145 Traffic Signal Maintenan… 1,400.76
011-4600-6363 Electric 474.68
011-4740-6364 Water 14.54
011-5100-6122 Lawncare/Landscaping 1,347.51
011-5100-6123 Housekeeping 2,570.97
011-5100-6364 Water 128.59
011-5100-6399 Other Supplies/Materials 646.90
011-5300-6123 Housekeeping 860.00
011-5300-6362 Telephone 57.15
011-5300-6364 Water 1,037.62
011-5300-6398 Other General Expense 64.92
021-6100-6199 Other Contract Services 13,960.66
031-0100-6203 Audit & Financial 1,290.47
041-6900-6122 Lawncare/Landscaping 27,454.61
041-6900-6199 Other Contract Services 32,170.00
041-6900-6206 Engineering Consultants 17,032.75
041-6900-6503 Non-Capital Computer E… 5,269.50
041-6900-6622 Site Improvements 43,860.00
042-6900-6199 Other Contract Services 601.25
042-6900-6201 Legal - City Attorney 2,667.70
042-6900-6209 Other Program & Proj C… 462.50
043-6900-6622 Site Improvements 29,250.00
045-6900-6206 Engineering Consultants 11,970.25
046-6900-6111 Contract Personnel 6,105.00
048-6900-6625 Sewer Main Replacement 207,450.96
051-4800-6140 Sewer Maintenance Wo… 93,188.46
051-4800-6362 Telephone 88.24
051-4800-6363 Electric 934.00
051-4800-6364 Water 188.00
061-0000-2204 Deferred Comp Payable 41,870.95
061-0000-2225 Life Insurance Payable 705.25
061-0000-2226 Long Term Disability Pay… 923.30
061-0000-2233 Dental & Vision Insuranc… 3,522.76
061-1470-6029 Workers Comp Insurance… 25,088.00
061-1480-6111 Contract Personnel 11,337.00
061-1480-6118 Facility Maint & Security 384.81
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 15 of 16
Account Summary
Account Number Account Name Payment Amount
061-1480-6122 Lawncare/Landscaping 170.51
061-1480-6123 Housekeeping 5,779.01
061-1480-6208 Programming & Comput… 2,310.92
061-1480-6301 Office Supplies 301.43
061-1480-6303 Postage 400.00
061-1480-6310 On-Line Service 1,578.74
061-1480-6311 Training & Safety 412.49
061-1480-6323 Disposal Services 950.62
061-1480-6332 Town Recruitment 100.22
061-1480-6361 Special Events & Awards 591.59
061-1480-6362 Telephone 1,380.72
061-1480-6363 Electric 2,885.46
061-1480-6364 Water 112.74
061-1480-6398 Other General Expense 594.77
061-1480-6402 Office Mach & Furniture… 1,747.60
061-4300-6123 Housekeeping 1,003.25
061-4300-6302 City Membership 238.00
061-4300-6309 Instruction & Training 150.00
061-4300-6324 Uniforms 564.42
061-4300-6342 Gas and Oil 359.70
061-4300-6362 Telephone 226.18
061-4300-6363 Electric 450.53
061-4300-6364 Water 39.86
061-4300-6398 Other General Expense 527.78
061-4300-6614 Tools & Equipment 762.33
061-4400-6318 Vehicle Repair 210.25
061-4400-6342 Gas and Oil 578.28
061-4400-6351 Auto & Equipment Parts 96.51
061-4400-6399 Other Supplies/Materials 141.85
061-4400-6506 Non Capital - Vehicles &… 722.12
Grand Total: 1,245,272.01
Project Account Summary
Project Account Key Payment Amount
**None** 728,588.66
111710 80.40
111720 80.41
111730 80.41
111740 80.41
111790 314.56
111799 80.40
111802 142.19
410216 17,032.75
410220 32,170.00
410225 43,860.00
410227 5,269.50
427903 2,667.70
427913-24 1,063.75
437307-23 29,250.00
467209 11,970.25
467226-24 6,105.00
487918-23 83,696.22
487918-24 123,754.74
APL23-0002 356.13
BLD19-0219 14,406.26
BLD19-0219-ELEC 40,000.00
BLD19-0219-GAS 20,000.00
BLD19-0393 2,700.00
Expense Approval Report Payment Dates: 4/1/2024 - 4/30/2024 6/12/2024 2:20:03 PM Page 16 of 16
Project Account Summary
Project Account Key Payment Amount
BLD20-0313-FD 1,575.00
BLD21-0456-FD 900.00
BLD22-0020-FD 1,134.00
BLD23-0698-FD 454.66
CC23-0001 3,122.55
CDP23-0001 3,540.30
CDP23-0002 1,685.86
EP18-0112 51.37
EP18-0112-PERF 3,000.00
EP19-0044 301.00
EP19-0044-PERF 3,000.00
EP22-0021 309.00
EP23-0064 309.00
EP23-0081 9,744.00
EP23-0092 309.00
EP23-0097 309.00
EP23-0100 309.00
EP23-0165 903.00
R4120-3 536.25
R4120-5 2,314.94
R4130-1 197.00
SB922-0001 3,362.74
SD23-0019 2,706.00
SD23-0051 809.60
SD23-0052 809.60
SD23-0054 916.30
SD24-0004 3,459.61
SD24-0006 2,998.88
SR19-0011-PB 5,000.00
TR4169-24 27,454.61
Grand Total: 1,245,272.01
TOWN OF LOS ALTOS HILLS June 20, 2024
Staff Report to the City Council
SUBJECT: RECEIVE TREASURER’S REPORT FOR PERIOD ENDING APRIL 30, 2024
FROM: Fifi Ngom, Finance Manager
APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council:
Review and accept the Treasurer’s Report for the month ending on April 30, 2024.
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 comply with this requirement. The following attachment provides a summary of financial transactions for the Town of Los Altos Hills Cash and Investments accounts for the month ended on April 30, 2024.
DISCUSSION:
The Town’s Cash and Investments accounts record all receipts and disbursement transactions for the month. The Town’s main cash account – Wells Fargo Bank shows a total balance of $4,604,622.95 with disbursements of $2,075,570.18 for the month of April 2024. As of April 30, 2024, the grand total of Cash and Investments accounts is $26,519,398.5 with the following breakdown.
ITEM 7G
Staff Report Page 2
Treasury Report for Period Ending April 30, 2024
June 20, 2024
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. 2024 CITY COUNCIL WORK PLAN:
The report is for financial transparency and to comply with government code. It was not specified as one of the City Council’s Work Plan items for 2024.
FISCAL IMPACT:
There is no fiscal impact for April 30, 2024, Treasurer’s Report.
ATTACHMENT:
1. Treasurer’s Report as of April 30, 2024.
Accounts Amount $:
Cash on hands 1,900.00
Wells Fargo Bank 4,604,622.95
Sub-total 4,606,522.95
LAIF per par value 3,814,206.42
CAMP per market value 21,387,406.40
PARS 115 per market value 1,160,158.78
BNY Mellon - per par value 157,626.90
Sub-total 26,519,398.50
Grand Total 31,125,921.45
Name Beginning
Balance Total Total Ending Balance
as of 04/01/24 Receipts (+) Disbursement (-) as of 04/30/24 CASH ACCOUNTS:
Cash on hand & Petty Cash 1,900.00 - - 1,900.00
Wells Fargo Bank 3,162,733.99 3,517,459.14 2,075,570.18 4,604,622.95 Total: 3,517,459.14 3,164,633.99 2,075,570.18 4,606,522.95 Ending Balance
as of 04/30/24
INVESTMENT ACCOUNTS:
Investments - Local Agency Investment Fund (LAIF) - per Par Value 3,814,206.42 Investments - CAMP Portfolio - per Market Value 21,387,406.40 Investments - PARS 115 Trust Pension - per Market Value - Restricted 1,160,158.78 Investments w/ Fiscal Agent - BNY Mellon - per Par Value - Restricted 157,626.90 Total: 26,519,398.50
TOTAL CASH & INVESTMENTS ACCOUNTS 31,125,921.45
DEPOSIT LIABILITIES
Building Dept Deposits 4,293,665.70
CASH & INVESTMENTS ACCOUNT BALANCE:
Prior Year
Carry forward Increase/ Ending Balance Current Current Ending Balance Fund # Fund Name: Fund Classification: 7/1/2023 (Decrease) as of 03/31/24 Increase (DR) Decrease (CR) as of 04/30/24 11 General Fund General Fund 20,646,199.41 (75,421.25) 20,570,778.16 3,808,348.02 1,713,537.09 22,665,589.09 16 Parks & Rec - In Lieu Fee Special Revenue 379,233.50 74,126.61 453,360.11 7,299.51 12,395.75 448,263.87 19 ARPA - AMERICAN
RESCUE PLAN ACT
Special Revenue
(272,827.69) 1,085,932.75 813,105.06 813,105.06
21 COPS FUND Special Revenue (157,068.72) 113,930.86 (43,137.86) 49,127.39 14,873.49 (8,883.96) 71 SPECIAL DONATIONS Special Revenue 33,637.90 820.00 34,457.90 15.00 34,472.90 46 STREET CIP Streets Capital Projects (9,442.32) (844,866.34) (854,308.66) 92,496.58 11,918.00 (773,730.08) 41 GENERAL CIP FUND Other Capital Projects 784,475.49 (1,070,629.93) (286,154.44) 14,364.42 129,712.68 (401,502.70) 42 PATHWAYS CIP Other Capital Projects 1,027,973.91 (284,760.16) 743,213.75 89,839.39 32,910.05 800,143.09 43 WESTWIND BARN CIP Other Capital Projects 266,998.19 (23,567.72) 243,430.47 11,468.27 31,407.34 223,491.40 45 DRAINAGE CIP Other Capital Projects 705,402.50 (31,163.98) 674,238.52 42,359.86 36,658.71 679,939.67 48 SEWER FUND CIP Enterprise-Sewer 4,559,309.89 (479,063.07) 4,080,246.82 25,837.29 214,056.45 3,892,027.66 51 SEWER FUND Enterprise-Sewer 1,154,876.82 408,796.15 1,563,672.97 452,144.19 380,502.27 1,635,314.89 31 SEWER ASSESSMENT DISTRICT Fiduciary 313,429.37 (58,279.90) 255,149.47 2,736.53 1,780.50 256,105.50 61 GENERAL SERVICE FUNDInternal Service Fund 961,880.44 448,327.03 1,410,207.47 599,547.45 1,148,169.86 861,585.06 (2,094,579.39) 31,752,839.13 29,658,259.74 5,195,583.90 3,727,922.19 31,125,921.45 Monthly Treasurer's Report
FY 2023-24
Month of April (Unaudited)
Pursuant to California Government Code Section 41004
TOTAL CASH & INVESTMENTS ACCOUNT
ITEM 7G, Supplement 1
REVISED June 26, 2024
TOWN OF LOS ALTOS HILLS June 20, 2024
Staff Report to the City Council
SUBJECT: RECEIVE TREASURER’S REPORT FOR PERIOD ENDING APRIL 30, 2024
FROM: Fifi Ngom, Finance Manager
APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council:
Review and accept the Treasurer’s Report for the month ending on April 30, 2024.
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 comply with this requirement. The following attachment provides a summary of financial transactions for Town of Los Altos Hills Cash and Investments accounts for the month ended on April 30, 2024.
DISCUSSION:
The Town’s Cash and Investments accounts record all receipts and disbursements transactions for the month. The Town’s main cash account – Wells Fargo Bank shows a total balance of $4,604,622.95 with disbursements of $1,519,821.77 for the month of April 2024. As of April 30, 2024, the grand total of Cash and Investments accounts is $26,519,398.5 with the following breakdown.
Staff Report Page 2
Treasury Report for Period Ending April 30, 2024
June 20, 2024
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. 2024 CITY COUNCIL WORK PLAN:
The report is for financial transparency and to comply with government code. It was not specified as one of the City Council’s Work Plan items for 2024.
FISCAL IMPACT:
There is no fiscal impact for April 30, 2024, Treasurer’s Report.
ATTACHMENT:
1. Treasurer’s Report as of April 30, 2024.
Accounts Amount $:
Cash on hands 1,900.00
Wells Fargo Bank 4,604,622.95
Sub-total 4,606,522.95
LAIF per par value 3,814,206.42
CAMP per market value 21,387,406.40
PARS 115 per market value 1,160,158.78
BNY Mellon - per par value 157,626.90
Sub-total 26,519,398.50
Grand Total 31,125,921.45
Name Beginning
Balance Total Total Ending Balance
as of 04/01/24 Receipts (+) Disbursement (-) as of 04/30/24 CASH ACCOUNTS:
Cash on hand & Petty Cash 1,900.00 - - 1,900.00
Wells Fargo Bank 3,162,733.99 2,961,710.73 1,519,821.77 4,604,622.95 Total: 3,164,633.99 2,961,710.73 1,519,821.77 4,606,522.95 Ending Balance
as of 04/30/24
INVESTMENT ACCOUNTS:
Investments - Local Agency Investment Fund (LAIF) - per Par Value 3,814,206.42 Investments - CAMP Portfolio - per Market Value 21,387,406.40 Investments - PARS 115 Trust Pension - per Market Value - Restricted 1,160,158.78 Investments w/ Fiscal Agent - BNY Mellon - per Par Value - Restricted 157,626.90 Total: 26,519,398.50
TOTAL CASH & INVESTMENTS ACCOUNTS 31,125,921.45
DEPOSIT LIABILITIES
Building Dept Deposits 4,293,665.70
CASH & INVESTMENTS ACCOUNT BALANCE:
Monthly Treasurer's Report
FY 2023-24
Month of April (Unaudited)
Pursuant to California Government Code Section 41004
ITEM 7G, Supplement 2
REVISED June 26, 2024
ITEM 7G, Supplement 1
REVISED June 26, 2024
Prior Year
Carry forward Increase/ Ending Balance Current Current Ending Balance 679,939.67
Enterprise-Sewer 1,635,314.89
255,149.47 1,780.50 256,105.50
448,327.03 1,148,169.86
(2,094,579.39) 29,658,259.74
3,892,027.66
1,563,672.97
5,195,583.90
1,410,207.47
Other Capital Projects
4,080,246.82
3,727,922.19 31,125,921.45
51 SEWER FUND
45 DRAINAGE CIP 42,359.86
TOTAL CASH & INVESTMENTS ACCOUNT
452,144.19
674,238.52
1,154,876.82
2,736.53
223,491.40
48 SEWER FUND CIP
61 GENERAL SERVICE FUNInternal Service Fund
(31,163.98)
Enterprise-Sewer 4,559,309.89 25,837.29 214,056.45
313,429.37 (58,279.90)
36,658.71
31,752,839.13
599,547.45
705,402.50
(479,063.07)
408,796.15
31 SEWER ASSESSMENT D Fiduciary
961,880.44
380,502.27
861,585.06
49,127.39
(773,730.08)
14,873.49
(854,308.66)
129,712.68
Decrease (CR)
22,665,589.09
113,930.86
448,263.87
General Fund
19 7/1/2023
11 General Fund
16 Parks & Rec - In Lieu Fee
46 STREET CIP (9,442.32)
RESCUE PLAN ACT
7,299.51
Special Revenue
71 SPECIAL DONATIONS 820.00 34,457.90
(272,827.69)
as of 04/30/24
21 COPS FUND
34,472.90
20,570,778.16
Streets Capital Projects 11,918.00
1,085,932.75
Special Revenue
Fund Classification:
813,105.06
Other Capital Projects 784,475.49 (286,154.44)
20,646,199.41 (75,421.25)
813,105.06
(157,068.72) (8,883.96)
ARPA - AMERICAN
379,233.50
(43,137.86)
74,126.61 12,395.75
33,637.90 15.00
3,808,348.02
(1,070,629.93)
(Decrease)
14,364.42 (401,502.70)
Special Revenue
42 PATHWAYS CIP
41 GENERAL CIP FUND
Increase (DR)
(844,866.34) 92,496.58
Fund # Fund Name: as of 03/31/24
Special Revenue 453,360.11
1,713,537.09
43 WESTWIND BARN CIP
(284,760.16)
243,430.47 31,407.34
Other Capital Projects 1,027,973.91
Other Capital Projects 11,468.27
743,213.75 89,839.39 32,910.05 800,143.09
266,998.19 (23,567.72)
Item 7H Staff Report
THE TOWN OF LOS ALTOS HILLS June 20, 2024
Staff Report to the City Council
SUBJECT: Zoning Code Amendments (Los Altos Hills Municipal Code Title 10) Waive reading and adopt an Ordinance amending various sections under Chapters 1 and 2 of Title 10, Zoning and Site Development, of the Los Altos Hills Municipal Code amending regulations relating to Accessory Dwelling Units in conformance with Government Code section 66314 et seq.; amending the Grading Ordinance under Article 4, Chapter 2, Title 10 to clarify City Engineer authority to consider wet season grading moratorium exceptions; establishing Low Barrier Navigation Centers as a permitted use within the Residential-Agricultural (R-A) zoning district in accordance with Government Code section 65660 et seq.; and updating regulations pertaining to Emergency Shelters in accordance with Government Code section 65583.
FROM: Bradley Evanson, Community Development Director
APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council takes the following actions:
1. Waive reading and Adopt an Ordinance (Attachment 1) amending various sections under Chapters 1 and 2 of Title 10, Zoning and Site Development, of the Los Altos Hills Municipal Code amending regulations relating to Accessory Dwelling Units in conformance with Government Code section 66314 et seq.; amending the Grading Ordinance under Article 4, Chapter 2, Title 10 to clarify City Engineer authority to consider wet season grading moratorium exceptions; establishing Low Barrier Navigation Centers as a permitted use within the Residential-Agricultural (R-A) zoning district in accordance with Government Code section 65660 et seq.; and updating regulations pertaining to Emergency Shelters in accordance with Government Code section 65583.
DISCUSSION
On May 16, 2024, staff brought forward the Ordinance making certain zoning code amendments to update ADU regulations, clarify City Engineer authority with respect to exceptions to wet season grading moratorium, and update regulations pertaining to Low Barrier Navigation Centers and Emergency Shelters, to the Council for consideration and introduction. These amendments are proposed to address Housing Element Programs B-6, B-11, E-2, and E-3, all of which identified a target completion date of Q1 2024.
These proposed amendments are included as Exhibit A to the Ordinance and elaborated in further detail in the May 16 City Council Staff Report which is included as Attachment 2 to this report.
City Council Page 2
Muni Code Amendments to Implement
Housing Element Update
June 19, 2024
At that meeting, the Council made findings regarding California Environmental Quality Act (CEQA) applicability, General Plan conformance, and voted unanimously (5 AYES, 0 NOES) to waive the first reading and introduce the Ordinance.
The Ordinance is now ready for adoption.
ATTACHMENTS
1. Draft Ordinance
2. City Council Staff Report – May 16, 2024
Item 7H ATTACHMENT 1
ORDINANCE ______
AN ORDINANCE OF THE TOWN OF LOS ALTOS HILLS AMENDING TITLE 10 (ZONING AND SITE DEVELOPMENT) OF THE LOS ALTOS HILLS MUNICIPAL
CODE TO AMEND REGULATIONS RELATING TO ACCESSORY DWELLING UNITS; GRADING MORATORIUM EXCEPTIONS; LOW BARRIER NAVIGATION CENTERS; AND EMERGENCY SHELTERS, IN ACCORDANCE WITH STATE HOUSING LAWS AND LOS ALTOS HILLS 2023-2031 HOUSING ELEMENT WHEREAS, a severe housing crisis exists in the State of California with the demand for housing outstripping supply; and
WHEREAS, the State Legislature has enacted a number of laws relating to streamline approvals of housing development projects; expand accessory dwelling units (“ADU”) opportunities; and to promote housing supply, growth and mobility; and WHEREAS, several state legislations in particular have gone into effect between 2016 and 2023 which, among other things, requires municipalities to ministerially approve ADUs and Junior ADUs (“JADU”), and to limit local authority to impose standards such as setbacks, height, lot coverage, and architectural compatibility, parking, and utility connection and fee requirements; and
WHEREAS, similarly, the Legislature also enacted Government Code sections 65662 and 65583 to permit emergency shelters and low-barrier navigation centers (“LBNC”) as uses by right in residential and/or mixed use zones, subject to specific objective standards; and WHEREAS, the adopted and state-certified 2023-2031 Housing Element (“Housing Element”) of the Town of Los Altos Hills (“Town”) contains numerous goals, policies and programs to streamline residential development projects and promote housing opportunities and mobility, which covers, among other things, the development of ADUs, consideration of wet season grading moratorium exceptions under the Grading Ordinance, and the permitting of emergency shelters/LBNCs in accordance with state law; and WHEREAS, specifically, the Housing Element considers ADUs an important part of the Town’s site inventory and housing strategy and included a number of programs to remove constraints and encourage and facilitate ADU developments in Los Altos Hills, including: monitor and revise the Town’s ADU regulations under Los Altos Hills Municipal Code (“LAHMC”) Title 10, Chapter 1 (the “Zoning Ordinance”) as appropriate to incorporate state legislative amendments; create ADU survey process to reduce ADU vacancies; and providing housing resources outreach and referrals to advertise vacant dwellings to find tenants from the larger region. Housing Element Program B-6 specifies: “monitor state law on an annual basis and revise the Zoning Ordinance as appropriate. . . the Town will make any revisions to the ADU ordinance as necessary per any further State review”; and
WHEREAS, Housing Element Program B-11 requires the Town to amend the current Grading Ordinance under LAHMC Section 10-2.404 to clarify the City Engineer’s ability to consider restricting grading permits rather than imposing a blanket requirement, so as to “allow grading permits to be issued year-round, subject to appropriate conditions of approval for seasonal constraints”; and