Interest rates rose significantly during the year, and the fixed income market responded to the Fed's continued rate hike cycle with increased yields as well as an inverted yield curve. This led to muted total return performance for the portfolio over the fiscal year. Over the past year the City’s Portfolio outperformed the benchmark by 48 basis points on a gross basis despite the volatility in the markets due to the turmoil in the financial sector in the spring. Over the past quarter, sector diversification was a boon to overall portfolio performance, with most sectors outperforming Treasuries. The higher interest rate environment we are now in has resulted in the continuation of a higher portfolio yield at cost and reflects the potential for higher earnings going forward.
U.S. Treasury Yields
Fiscal Year
End
6/30/23
Fiscal Year
End
6/30/22
Change
Year on
Year
3-month 5.43% 1.63% 3.80%
1-year 5.40% 2.74% 2.66%
2-year 4.87% 2.95% 1.92%
3-year 4.49% 3.01% 1.48%
5-year 4.13% 3.04% 1.09%
FISCAL IMPACT:
As mentioned, as of June 30, 2023, the City’s investment portfolio had an approximate market value of $431.5 million. For the year ending June 30, 2023, the City’s securities portfolio returned 0.05% versus the benchmark return of -0.43% (gross fees). This is a gross outperformance of 48 basis points (0.48%) against the benchmark.
The City’s portfolio is well balanced. The portfolio has sufficient liquidity with 49.35% in maturities under two years and 11.1% in overnight securities. The City’s portfolio remains diversified in U.S. government securities, corporate notes, negotiable CDs, and asset-backed securities. The City’s diversification has led to increased investment earnings vs the benchmark over the prior fiscal year.
In June, the approximate yield of the City’s combined investments was 2.75% (see attachment 3) on a weighted average. For the portfolio of securities alone, the yield to maturity on cost was
2.14%. For comparative purposes, the yields (as of June 30, 2023) of other investments commonly used by public agencies are listed below:
Local Agency Investment Fund: 3.17%
1-Year U.S. Treasury Note: 5.40%
2-Year U.S. Treasury Note: 4.87%
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City Council, September 26, 2023
Annual Investment Report – Fiscal Year 2022-2023
The Portfolio maintains sufficient liquidity to meet the City's projected expenditure requirements for at least the next six months.
COMMITTEE RECOMMENDATION:
The Finance Committee approved the Annual Investment Report at their August 21, 2023 meeting and recommended forwarding to Council for approval.
RECOMMENDED COUNCIL ACTION:
Staff Recommendations:
Motion accepting the Annual Investment Report for Fiscal Year 2022-2023.
Approved by:
DeAnna Christensen, Director of Finance
Joseph P. Lopez, City Manager
Attachments:
1. Monthly Investment Report
2. Account Statement
3. Combined Yields
4. Portfolio Holdings and Earnings Projections
5. Cash with Fiscal Agent
6. Presentation
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PORTFOLIO HOLDINGS
Attachment 1
Percentages may not total to 100% due to rounding.
Investment Type No. of Investments Amount Invested
CAMP 1 47,969,833
Federal Agency 23 40,496,974
Federal Home Loan Bank 2 4,195,366
Federal Home Loan Mortgage Co. 5 7,802,620
Federal Nat’l Mortgage Assc. 16 28,498,987
Federal Agency CMO 2 2,813,823
U.S. Treasury 66 238,470,306
Commercial Paper 3 30,938,200
Negotiable CD 1 3,352,836
Corporate Note 22 51,357,426
Asset-Backed 9 3,365,838
Municipal 10 7,195,017
Supranational 2 5,613,329
Total Invested 139 431,573,582
Sector Allocation
June 30, 2023 versus May 31, 2023
Sector June 30, 2023 May 31, 2023 Change in Allocation Permitted by Policy
U.S. Treasury 55.3% 55.3% -0.08% 100%
Federal Agency 9.4% 9.4% 0.00% 100%
Federal Agency CMO 0.7% 0.7% -0.06% 100%
Commercial Paper 7.2% 7.1% 0.07% 25%
Negotiable CD 0.8% 0.8% 0.00% 30%
Corporate Note 11.9% 11.9% -0.01% 30%
Asset-Backed 0.8% 0.8% -0.05% 20%
Municipal 1.7% 1.7% 0.01% 100%
Supranational 1.3% 1.3% 0.01% 30%
CAMP 11.1% 11.0% 0.11% 100%
* Total invested includes only the bolded numbers
* * Amount invested are market values excluding accrued interest Additional, detailed information regarding security types and investment activity may be found in Attachment 2 accompanying this memo. Moreover, the addendum data will confirm continued compliance with the investment policy as well as with California Government Code.
RECENT ACTIVITY & CORPORATE EXPOSURE
The most aggressive series of interest rate hikes in recent history has come to a temporary pause in June, but a few more Fed rate hikes may still be coming. Monthly payroll numbers came in at 209,000 jobs in June, which is the lowest reading since December of 2020. Regardless, this is still a strong addition to the labor market especially when paired with an unemployment rate at 3.6%. Sector spreads tighten over the month, reflecting a more optimistic sentiment among investors, but remain elevated versus historical levels. In the Long-Term portfolio, we sold a short duration Treasury and replaced this with a longer duration Treasury. There was no activity in the Short-Term Portfolio over the month. #9..
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PERFORMANCE
U.S. Treasury yields moved higher across all tenors in June with the largest moves coming in the belly of the curve (two-to-ten-year portion). The continued rise in interest rates led to negative performance in both the Long-Term Portfolio and its benchmark during the period. The portfolio's shorter duration position relative to the benchmark and broad sector spread tightening led the portfolio to outperform the benchmark over the month. Since inception, the portfolio continues to outperform the benchmark.
1. Performance is calculated on trade-date basis, gross (i.e., before fees) in accordance the CFA Institute's Global Investment Performance Standards (GIPS).
2. Performance numbers for periods greater than 1 year are presented on an annualized basis unless otherwise noted.
3. The performance calculation excludes any funds not invested in the 1-5 year strategy.
4. Performance benchmark through December 31, 2018 was the ICE BofAML 1-3 Year U.S. Treasury Index, and is now the ICE BofAML 1-5 Year U.S. Treasury Index, sourced from Bloomberg.
5. Inception date is 3/31/04.
Percentages may not add due to rounding.
Long-Term Portfolio Total Return
June 30, 2023
1 Month Trailing
12 Months
Trailing 36
Months
Trailing 60
Months
Since
Inception5
City of Modesto Investment Portfolio1,2,3-0.63% 0.05% -1.38% 1.22% 1.93% Modesto Performance Benchmark4-0.75% -0.43% -1.79% 0.84% 1.63% Average Portfolio Yields
June 30, 2023
Past
Month
Past 3
Months
Past
Year
Past 3
Years
Past 5
Years
City of Modesto Investment Portfolio 2.14% 2.08% 1.88% 1.63% 1.98% City of Modesto Short-Term Portfolio 5.21% 5.13% 4.03% - - $107.9
$25.0
$80.1
$113.3
$38.8
$66.5
$-
$30.0
$60.0
$90.0
$120.0
$150.0
Under 6
Months
6-12
Months
1-2 Years 2-3 Years 3-4 Years 4-5 Years
Millions
Maturity Distribution
June 30, 2023
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INVESTMENT POLICY
The City’s investment policy embraces the following standards: the prudent investor rule, requiring the safety of principal, through prudent and safe investments; sufficient liquidity to meet expected and unforeseen cash flows; generation of an above-market, risk-adjusted rate of return (meaning, returnsexpectations taking safety and liquidity into account). No investments longer than five years are permitted.
Some investments have maturity limits of 270 days or less. The table below details the City’s permitted investments.
Investment Type
Maximum
Maturity
Maximum Specified
% of Portfolio
Maximum
% per
Issuer
Minimum Quality
Requirements
Local Agency Bonds 5 Years None None None
Treasury Obligations 5 Years None None None
State Obligations 5 Years None None A rating
CA Local Agency Obligations 5 Years None None A rating
Federal Agencies 5 Years None None None
Supranationals 5 Years 30 percent 5 percent AA
Banker’s Acceptances 180 days 40 percent 5 percent Federal Reserve eligible Commercial Paper 270 days 25 percent 5 percent A1/P1 rating Negotiable Certificates of Deposit 5 Years 30 percent 5 percent A rating Certificates of Deposit 1 Year 20 percent 5 percent FDIC insured or collateralized Repurchase Agreements 90 days None 5 percent None
Reverse Repurchase Agreements 92 days 20 percent of
combined base value 5 percent None
Medium Term Notes 5 Years 30 percent 5 percent A rating Money Market Mutual Funds N/A 20 percent 10 percent Multiple Mortgage and Asset-backed Securities 5 Years 20 percent 5 percent AA Rating CAMP N/A None None N/A
LAIF N/A N/A None N/A
The City is not required to include a list of investments held by our bond trustees; however, staff believes the City Council should be kept informed of these investments. These investments are identified on Attachment A.
LONG TERM PORTFLIO INCOME RETURN
Monthly Income Return
0.13%
Fiscal Year-to-Date Income Return
1.37%
Prior 12 Months Income Return
1.37%
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472
575
784
286
482
693
769
663
557
781
614
569
364
904
414
254
364
370
568
352
350
324
290
239
472
248
217217
306
209
0 200
400
600
800
1,000
1,200
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
Apr-23
Thousands
Monthly Change In
Nonfarm Payrolls
4.8 million new
jobs in 2022
Source: Bloomberg, as of June 2023. Data is seasonally adjusted.
Economic Summary
U.S. Job Markets Ease Over the Month but Remain Relatively Strong
0 5
10 15
20 25
Millions
Job Openings vs. Unemployed Workers
Job Openings Unemployed
The job openings to
unemployed ratio grew to
1.6:1
Record 7.2 million
new jobs in 2021
1.7 million
in 2023
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Source: Bloomberg, Bureau of Economic Analysis as of May 2023. “Supercore” inflation, strips out food and energy costs from headline PCE, but also removes housing costs.
Economic Summary
Consumers Continue to Spend on Services While Prices Remain Elevated
1.9%
0.3%
0.1%
0.6%
0.1%
3.4%
-0.1%
-1.0%
0.9%
-0.5%
1.2%
0.4%
0.7%
0.5% 0.4%
-1.5%
-1.0%
-0.5%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
January-23 February-23 March-23 April-23 May-23
Change in Consumer Spending
Month-to-Month
Consumer Spending Goods Services
3.8%
4.5%
0%
1%
2%
3%
4%
5%
6%
7%
8%
Personal Consumption Expenditure Price Index
Year-over-Year
PCE PCE Supercore
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Source: ICE BofAML 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of 06/30/2023. Spreads on ABS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.
Economic Summary
Sector Spreads Tighten Over The Month
-0.05%
0.00%
0.05%
0.10%
0.15%
0.20%
0.25%
0.30%
0.35%
Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
Federal Agency Yield Spreads
0.50%
0.60%
0.70%
0.80%
0.90%
1.00%
1.10%
1.20%
Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
Corporate Notes A-AAA Yield Spreads
0.20%
0.30%
0.40%
0.50%
0.60%
0.70%
0.80%
0.90%
1.00%
1.10%
1.20%
Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
Asset-Backed Securities AAA Yield Spreads
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Treasury Yields Continue On Their Path Upward
Source: Bloomberg as of 06/30/2023.
Economic Summary
5.41%
5.39%
4.53%
3.84% 3.86%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
5.00%
5.50%
6.00%
3M1Y 2Y 3Y 4Y 5Y 10Y 30Y
U.S. Treasury Yield Curve
June 30, 2023
May 31, 2023
March 31, 2023
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This material is based on information 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. This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation. All statements as to what will or may happen under certain circumstances are based on assumptions, some but not all of which are noted in the presentation. Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Past performance does not necessarily reflect and is not a guaranty of future results. The information contained in this presentation is not an offer to purchase or sell any securities.
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. Bank is 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.
For more information regarding PFMAM’s services or entities, please visit www.pfmam.com.
Disclosures
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For the Month Ending June 30, 2023
Account Statement
Consolidated Summary Statement
CITY OF MODESTO - Combined Portfolio
Investment Allocation
Investment Type Closing Market Value Percent
Asset-Backed Security 3,365,837.89 0.78
Federal Agency Bond / Note 40,496,974.14 9.38
Corporate Note 51,357,426.29 11.90
Certificate of Deposit 3,352,836.03 0.78
Federal Agency Commercial Mortgage-Backed Security 2,813,823.00 0.65 Commercial Paper 30,938,200.17 7.17
Municipal Bond / Note 7,195,017.40 1.67
Supra-National Agency Bond / Note 5,613,328.79 1.30
U.S. Treasury Bond / Note 238,470,305.73 55.25
CAMP Pool 47,969,832.62 11.12
Total $431,573,582.06 100.00%
Portfolio Summary
and Income
Closing
Portfolio Holdings Market Value
Cash Dividends
PFMAM Managed Account 108,878.10 383,603,749.44
CAMP Pool 0.00 47,969,832.62
Total $108,878.10 $431,573,582.06
Maturity Distribution (Fixed Income Holdings)
Portfolio Holdings Closing Market Value Percent
58,330,354.94
10,237,726.80
12,558,805.51
26,804,500.28
24,991,353.92
80,097,604.63
113,302,205.84
38,781,081.27
66,469,948.87
0.00 13.52
2.37 2.91
6.21 5.79
18.56 26.25
8.99 15.40
0.00 Under 30 days
31 to 60 days
61 to 90 days
91 to 180 days
181 days to 1 year
1 to 2 years
2 to 3 years
3 to 4 years
4 to 5 years
Over 5 years
Total $431,573,582.06
737
100.00%
Weighted Average Days to Maturity
Sector Allocation
0.78% ABS
9.38%
Fed Agy Bond /
Note
11.90%
Corporate Note
0.78%
Cert of Deposit
0.65%
Federal Agency
Commercial
Mortgage-Backed
Security
7.17%
Commercial Paper
1.67%
Muni Bond / Note
1.30%
Supra-National
Agency Bond / Note 55.25%
US TSY Bond / Note
11.12%
CAMP Pool
Summary Page 1
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Managed Account Summary Statement For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Total Cash Basis Earnings
Plus Net Realized Gains/Losses
Less Purchased Interest Related to Interest/Coupons
Interest/Dividends/Coupons Received
Earnings Reconciliation (Cash Basis) - Managed Account
Less Beginning Accrued Interest
Less Beginning Amortized Value of Securities
Less Cost of New Purchases
Plus Coupons/Dividends Received
Plus Proceeds of Maturities/Calls/Principal Payments
Plus Proceeds from Sales
Ending Accrued Interest
Ending Amortized Value of Securities
Earnings Reconciliation (Accrual Basis)
$386,095,417.08
(474,932.60)
(3,824,010.55)
4,266,933.59
0.00 (2,459,658.08)
$383,603,749.44
276,080.88
(70,970.30)
(96,232.48)
$108,878.10
Total
401,540,914.45
1,354,908.61
3,824,568.36
474,932.60
275,523.07
(4,337,903.89)
(401,301,116.97)
(1,113,741.60)
Total Accrual Basis Earnings $718,084.63
Closing Market Value
Change in Current Value
Unsettled Trades
Principal Acquisitions
Principal Dispositions
Maturities/Calls
Opening Market Value
Transaction Summary - Managed Account
_________________
_________________
_______________________________________________ _______________________________________________ Reconciling Transactions Net Cash Contribution
Security Purchases
Principal Payments
Coupon/Interest/Dividend Income
Sale Proceeds
Maturities/Calls
Cash Transactions Summary - Managed Account
0.00 3,824,568.36
275,523.07
474,932.60
(4,337,903.89)
(0.28)
0.00 Cash Balance
Closing Cash Balance $800,993.69
CITY OF MODESTO - COMBINED PORTFOLIO Page 1
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Portfolio Summary and Statistics For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Account Summary
Description Par Value Market Value Percent
U.S. Treasury Bond / Note 257,096,000.00 238,470,305.73 62.16 Supra-National Agency Bond / Note 5,885,000.00 5,613,328.79 1.46 Municipal Bond / Note 7,590,000.00 7,195,017.40 1.88
Federal Agency Commercial
Mortgage-Backed Security
2,932,501.73 2,813,823.00 0.73
Federal Agency Bond / Note 43,700,000.00 40,496,974.14 10.56 Corporate Note 53,680,000.00 51,357,426.29 13.39
Commercial Paper 31,105,000.00 30,938,200.17 8.07
Certificate of Deposit 3,355,000.00 3,352,836.03 0.87
Asset-Backed Security 3,500,311.08 3,365,837.89 0.88
Managed Account Sub-Total 408,843,812.81 383,603,749.44 100.00% Accrued Interest 1,354,908.61
Total Portfolio 408,843,812.81 384,958,658.05
Unsettled Trades 0.00 0.00
Sector Allocation
0.88% ABS
0.87%
Cert of Deposit
8.07%
Commercial Paper
13.39%
Corporate Note
10.56%
Fed Agy Bond /
Note
0.73%
Federal Agency
Commercial
Mortgage-Backed
Security
1.88%
Muni Bond / Note
1.46%
Supra-National
Agency Bond / Note 62.16%
US TSY Bond / Note
0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years
15.63%
6.51%
20.88%
29.54%
10.11%
17.33%
0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Weighted Average Days to Maturity 829
2.47%
4.82%
CITY OF MODESTO - COMBINED PORTFOLIO Page 2
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Managed Account Issuer Summary For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Credit Quality (S&P Ratings)
3.37%
A
3.50%
A+
1.42%
A8.07%
A-1
3.20%
AA
75.01%
AA+
1.43%
AA3.93%
AAA
0.07%
NR
Issuer Summary
Issuer of Holdings Percent
Market Value
AMAZON.COM INC 4,828,658.77 1.26
APPLE INC 5,112,359.20 1.33
BANK OF AMERICA CO 1,940,468.40 0.51
BRISTOL-MYERS SQUIBB CO 2,022,654.60 0.53
CALIFORNIA DEPARTMENT OF WATER RESOURCES 93,517.00 0.02 CALIFORNIA STATE UNIVERSITY 562,584.00 0.15
CARMAX AUTO OWNER TRUST 763,868.06 0.20
DISCOVER FINANCIAL SERVICES 729,278.80 0.19
FANNIE MAE 28,949,491.03 7.54
FEDERAL HOME LOAN BANKS 4,195,366.34 1.09
FLORIDA STATE BOARD OF ADMIN FIN CORP 1,667,754.00 0.43 FREDDIE MAC 10,165,939.77 2.65
HOME DEPOT INC 3,356,899.29 0.88
HONDA AUTO RECEIVABLES 269,208.59 0.07
HYUNDAI AUTO RECEIVABLES 741,088.95 0.19
ING GROEP NV 10,237,726.80 2.67
INTER-AMERICAN DEVELOPMENT BANK 3,859,148.48 1.01
INTL BANK OF RECONSTRUCTION AND DEV 1,754,180.31 0.46
JP MORGAN CHASE & CO 3,507,248.68 0.91
LMA AMERICAS LLC 10,339,951.05 2.70
LOS ANGELES COMMUNITY COLLEGE DISTRICT 849,251.75 0.22
MASTERCARD INC 4,086,087.68 1.07
MICROSOFT CORP 5,701,542.00 1.49
NATIXIS NY BRANCH 10,360,522.32 2.70
NEW JERSEY TURNPIKE AUTHORITY 461,453.85 0.12
NOVARTIS AG 2,171,490.21 0.57
PACCAR FINANCIAL CORP 1,708,978.47 0.45
PFIZER INC 3,382,838.42 0.88
STATE OF CALIFORNIA 2,292,305.40 0.60
STATE OF MARYLAND 588,200.20 0.15
TARGET CORP 333,984.49 0.09
THE BANK OF NEW YORK MELLON CORPORATION 3,078,167.40 0.80 CITY OF MODESTO - COMBINED PORTFOLIO Page 3
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Managed Account Issuer Summary For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Issuer of Holdings Percent
Market Value
TORONTO-DOMINION BANK 3,352,836.03 0.87
TOYOTA MOTOR CORP 3,081,247.95 0.80
UNITED STATES TREASURY 238,470,305.73 62.16
UNIVERSITY OF CALIFORNIA 679,951.20 0.18
US BANCORP 2,817,580.48 0.73
WAL-MART STORES INC 5,089,613.74 1.33
Total $383,603,749.44 100.00%
CITY OF MODESTO - COMBINED PORTFOLIO Page 4
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Managed Account Detail of Securities Held For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note
US TREASURY NOTES
DTD 10/15/2020 0.125% 10/15/2023
91282CAP6 10,490,000.00 AA+ Aaa 05/15/23 05/15/23 10,272,824.22 5.18 2,758.64 10,339,538.35 10,337,567.71
US TREASURY NOTES
DTD 11/30/2016 2.125% 11/30/2023
912828U57 3,275,000.00 AA+ Aaa 01/07/19 01/09/19 3,216,408.21 2.52 5,894.55 3,270,013.46 3,231,504.07
US TREASURY NOTES
DTD 12/15/2020 0.125% 12/15/2023
91282CBA8 4,430,000.00 AA+ Aaa 04/06/22 04/07/22 4,263,528.91 2.41 242.08 4,384,942.18 4,328,940.63
US TREASURY NOTES
DTD 12/31/2018 2.625% 12/31/2023
9128285U0 270,000.00 AA+ Aaa 01/30/19 01/31/19 270,801.56 2.56 19.26 270,081.72 266,456.25
US TREASURY NOTES
DTD 02/28/2019 2.375% 02/29/2024
9128286G0 457,000.00 AA+ Aaa 08/11/21 08/12/21 480,671.17 0.33 3,627.75 463,178.40 447,860.00
US TREASURY NOTES
DTD 02/28/2019 2.375% 02/29/2024
9128286G0 1,564,000.00 AA+ Aaa 08/11/21 08/12/21 1,644,582.66 0.35 12,415.31 1,585,032.85 1,532,720.00
US TREASURY NOTES
DTD 03/15/2021 0.250% 03/15/2024
91282CBR1 4,450,000.00 AA+ Aaa 04/06/22 04/07/22 4,262,960.94 2.49 3,264.95 4,381,841.70 4,292,163.84
US TREASURY N/B NOTES
DTD 04/15/2021 0.375% 04/15/2024
91282CBV2 4,890,000.00 AA+ Aaa 04/29/21 04/30/21 4,893,629.30 0.35 3,857.89 4,890,970.28 4,699,748.68
US TREASURY N/B NOTES
DTD 06/15/2021 0.250% 06/15/2024
91282CCG4 4,485,000.00 AA+ Aaa 04/06/22 04/07/22 4,262,852.34 2.59 490.16 4,387,810.40 4,269,859.93
US TREASURY NOTES
DTD 07/31/2017 2.125% 07/31/2024
9128282N9 2,450,000.00 AA+ Aaa 08/01/19 08/06/19 2,489,142.58 1.79 21,716.68 2,458,512.06 2,366,163.94
US TREASURY NOTES
DTD 08/31/2017 1.875% 08/31/2024
9128282U3 1,630,000.00 AA+ Aaa 09/04/19 09/05/19 1,672,214.45 1.34 10,215.18 1,639,893.29 1,566,073.36
US TREASURY N/B NOTES
DTD 09/15/2021 0.375% 09/15/2024
91282CCX7 4,505,000.00 AA+ Aaa 04/06/22 04/07/22 4,264,440.04 2.65 4,957.95 4,385,798.76 4,245,962.50
US TREASURY NOTES
DTD 10/02/2017 2.125% 09/30/2024
9128282Y5 1,850,000.00 AA+ Aaa 10/01/19 10/03/19 1,905,283.20 1.50 9,881.83 1,863,851.11 1,778,890.63
US TREASURY NOTES
DTD 10/31/2017 2.250% 10/31/2024
9128283D0 460,000.00 AA+ Aaa 11/01/19 11/05/19 475,039.84 1.57 1,743.75 464,028.23 442,031.25 CITY OF MODESTO - COMBINED PORTFOLIO Page 5
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Managed Account Detail of Securities Held For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note
US TREASURY NOTES
DTD 11/30/2017 2.125% 11/30/2024
9128283J7 1,215,000.00 AA+ Aaa 12/02/19 12/04/19 1,239,964.45 1.69 2,186.83 1,222,093.57 1,163,552.28
US TREASURY NOTES
DTD 11/30/2017 2.125% 11/30/2024
9128283J7 3,450,000.00 AA+ Aaa 01/03/20 01/07/20 3,529,916.02 1.63 6,209.53 3,473,139.46 3,303,913.89
US TREASURY NOTES
DTD 11/30/2017 2.125% 11/30/2024
9128283J7 4,585,000.00 AA+ Aaa 04/29/21 04/30/21 4,848,816.60 0.50 8,252.38 4,689,318.32 4,390,853.68
US TREASURY N/B NOTES
DTD 12/15/2021 1.000% 12/15/2024
91282CDN8 4,445,000.00 AA+ Aaa 04/06/22 04/07/22 4,251,920.31 2.68 1,943.17 4,340,308.77 4,183,161.94
US TREASURY N/B NOTES
DTD 02/15/2022 1.500% 02/15/2025
91282CDZ1 4,400,000.00 AA+ Aaa 04/06/22 04/07/22 4,255,109.38 2.70 24,795.58 4,317,502.47 4,153,187.28
US TREASURY NOTES
DTD 04/30/2020 0.375% 04/30/2025
912828ZL7 4,945,000.00 AA+ Aaa 04/29/21 04/30/21 4,894,777.34 0.63 3,124.22 4,922,002.77 4,549,400.00
US TREASURY NOTES
DTD 07/02/2018 2.750% 06/30/2025
912828XZ8 4,230,000.00 AA+ Aaa 04/06/22 04/07/22 4,232,148.05 2.73 316.10 4,231,328.88 4,057,495.52
US TREASURY NOTES
DTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 4,340,000.00 AA+ Aaa 08/02/21 08/06/21 4,291,514.06 0.53 3,626.49 4,314,158.23 3,937,193.75
US TREASURY NOTES
DTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 4,635,000.00 AA+ Aaa 04/06/22 04/07/22 4,262,932.62 2.74 3,873.00 4,397,739.64 4,204,814.06
US TREASURY NOTES
DTD 09/30/2020 0.250% 09/30/2025
91282CAM3 1,100,000.00 AA+ Aaa 09/27/21 09/28/21 1,076,023.44 0.80 691.26 1,086,528.55 996,187.50
US TREASURY NOTES
DTD 09/30/2020 0.250% 09/30/2025
91282CAM3 4,550,000.00 AA+ Aaa 09/07/21 09/09/21 4,473,574.22 0.67 2,859.29 4,507,609.99 4,120,593.75
US TREASURY NOTES
DTD 10/31/2020 0.250% 10/31/2025
91282CAT8 5,010,000.00 AA+ Aaa 04/29/21 04/30/21 4,894,339.45 0.77 2,110.19 4,950,025.26 4,521,525.00
US TREASURY NOTES
DTD 10/31/2020 0.250% 10/31/2025
91282CAT8 6,930,000.00 AA+ Aaa 10/04/21 10/06/21 6,783,278.91 0.78 2,918.89 6,845,778.54 6,254,325.00
US TREASURY NOTES
DTD 11/30/2020 0.375% 11/30/2025
91282CAZ4 4,250,000.00 AA+ Aaa 11/01/21 11/02/21 4,133,291.02 1.07 1,349.90 4,180,789.77 3,835,625.00 CITY OF MODESTO - COMBINED PORTFOLIO Page 6
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Managed Account Detail of Securities Held For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note
US TREASURY NOTES
DTD 11/30/2020 0.375% 11/30/2025
91282CAZ4 4,635,000.00 AA+ Aaa 04/06/22 04/07/22 4,254,785.16 2.75 1,472.18 4,383,139.76 4,183,087.50
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 500,000.00 AA+ Aaa 02/02/21 02/04/21 498,613.28 0.43 5.09 499,292.32 450,703.10
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 1,040,000.00 AA+ Aaa 01/07/21 01/08/21 1,035,978.13 0.45 10.60 1,037,978.00 937,462.45
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 3,735,000.00 AA+ Aaa 04/05/21 04/07/21 3,646,439.65 0.89 38.06 3,688,184.41 3,366,752.16
US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 2,400,000.00 AA+ Aaa 07/02/21 07/07/21 2,353,875.00 0.80 3,754.14 2,373,883.69 2,154,374.88
US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 5,000,000.00 AA+ Aaa 02/17/22 02/18/22 4,719,531.25 1.85 7,821.13 4,816,325.04 4,488,281.00
US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 5,775,000.00 AA+ Aaa 01/04/22 01/06/22 5,570,167.97 1.27 9,033.41 5,644,740.06 5,183,964.55
US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 7,980,000.00 AA+ Aaa 05/03/22 05/04/22 7,256,812.50 2.95 12,482.53 7,480,429.69 7,163,296.48
US TREASURY NOTES
DTD 02/28/2019 2.500% 02/28/2026
9128286F2 3,210,000.00 AA+ Aaa 03/01/21 03/01/21 3,492,881.25 0.70 26,822.69 3,360,818.33 3,042,478.13
US TREASURY NOTES
DTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 4,645,000.00 AA+ Aaa 04/06/22 04/07/22 4,259,973.05 2.76 7,762.70 4,381,731.40 4,172,516.17
US TREASURY NOTES
DTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 6,000,000.00 AA+ Aaa 12/03/21 12/07/21 5,838,281.25 1.15 10,027.18 5,898,087.86 5,389,687.20
US TREASURY N/B NOTES
DTD 03/31/2021 0.750% 03/31/2026
91282CBT7 2,480,000.00 AA+ Aaa 09/07/21 09/09/21 2,479,031.25 0.76 4,675.41 2,479,415.49 2,241,300.00
US TREASURY N/B NOTES
DTD 03/31/2021 0.750% 03/31/2026
91282CBT7 4,925,000.00 AA+ Aaa 04/29/21 04/30/21 4,896,719.73 0.87 9,284.84 4,909,190.76 4,450,968.75
US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 1,405,000.00 AA+ Aaa 06/23/21 06/25/21 1,396,987.11 0.87 892.52 1,400,261.67 1,261,865.63 CITY OF MODESTO - COMBINED PORTFOLIO Page 7
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Managed Account Detail of Securities Held For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note
US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 4,615,000.00 AA+ Aaa 04/06/22 04/07/22 4,253,551.76 2.76 2,931.66 4,360,912.62 4,144,846.87
US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 4,800,000.00 AA+ Aaa 06/06/22 06/08/22 4,399,125.00 2.99 3,049.18 4,506,172.14 4,311,000.00
US TREASURY N/B NOTES
DTD 08/31/2021 0.750% 08/31/2026
91282CCW9 4,640,000.00 AA+ Aaa 04/06/22 04/07/22 4,258,106.25 2.75 11,631.52 4,365,046.01 4,138,300.00
US TREASURY N/B NOTES
DTD 09/30/2021 0.875% 09/30/2026
91282CCZ2 4,310,000.00 AA+ Aaa 04/05/22 04/07/22 3,968,398.83 2.77 9,479.64 4,062,302.63 3,856,103.13
US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
912828U24 4,545,000.00 AA+ Aaa 06/06/22 06/08/22 4,355,920.90 3.01 11,609.51 4,401,178.57 4,204,125.00
US TREASURY NOTES
DTD 02/15/2017 2.250% 02/15/2027
912828V98 9,220,000.00 AA+ Aaa 07/05/22 07/07/22 8,981,576.56 2.85 77,937.02 9,032,404.36 8,573,159.84
US TREASURY N/B NOTES
DTD 03/31/2022 2.500% 03/31/2027
91282CEF4 910,000.00 AA+ Aaa 11/29/22 11/30/22 854,973.44 4.03 5,718.58 862,382.20 852,840.63
US TREASURY N/B NOTES
DTD 04/30/2020 0.500% 04/30/2027
912828ZN3 6,480,000.00 AA+ Aaa 08/03/22 08/05/22 5,791,500.00 2.92 5,458.70 5,922,908.33 5,614,312.18
US TREASURY NOTES
DTD 06/30/2020 0.500% 06/30/2027
912828ZV5 5,545,000.00 AA+ Aaa 08/09/22 08/10/22 4,920,754.30 2.99 75.34 5,034,412.48 4,779,963.00
US TREASURY NOTES
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 1,200,000.00 AA+ Aaa 08/29/22 08/31/22 1,142,625.00 3.30 10,143.65 1,152,261.46 1,109,250.00
US TREASURY NOTES
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 2,985,000.00 AA+ Aaa 09/01/22 09/06/22 2,830,036.52 3.40 25,232.32 2,855,634.70 2,759,259.38
US TREASURY N/B NOTES
DTD 09/30/2022 4.125% 09/30/2027
91282CFM8 5,380,000.00 AA+ Aaa 11/01/22 11/03/22 5,344,903.91 4.27 55,784.43 5,349,604.28 5,349,737.50
US TREASURY N/B NOTES
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 2,715,000.00 AA+ Aaa 12/06/22 12/08/22 2,752,755.47 3.81 18,868.51 2,748,426.68 2,700,576.56
US TREASURY N/B NOTES
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 3,160,000.00 AA+ Aaa 12/13/22 12/14/22 3,229,495.31 3.63 21,961.14 3,221,734.61 3,143,212.50 CITY OF MODESTO - COMBINED PORTFOLIO Page 8
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Managed Account Detail of Securities Held For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note
US TREASURY NOTES
DTD 10/31/2020 0.500% 10/31/2027
91282CAU5 8,775,000.00 AA+ Aaa 01/04/23 01/06/23 7,472,803.71 3.91 7,391.98 7,603,097.37 7,488,914.06
US TREASURY N/B NOTES
DTD 12/31/2022 3.875% 12/31/2027
91282CGC9 4,250,000.00 AA+ Aaa 06/01/23 06/05/23 4,266,933.59 3.78 447.52 4,266,669.95 4,191,562.50
US TREASURY N/B NOTES
DTD 01/31/2023 3.500% 01/31/2028
91282CGH8 2,220,000.00 AA+ Aaa 05/16/23 05/18/23 2,218,265.63 3.52 32,410.77 2,218,310.02 2,156,175.00
US TREASURY NOTES
DTD 01/31/2021 0.750% 01/31/2028
91282CBJ9 3,450,000.00 AA+ Aaa 01/31/23 01/31/23 2,994,761.72 3.66 10,793.16 3,032,407.38 2,958,913.89
US TREASURY N/B NOTES
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0 2,825,000.00 AA+ Aaa 03/03/23 03/07/23 2,793,660.16 4.25 37,769.02 2,795,657.64 2,804,695.31
US TREASURY N/B NOTES
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0 2,970,000.00 AA+ Aaa 03/03/23 03/06/23 2,931,134.77 4.29 39,707.61 2,933,631.88 2,948,653.13
US TREASURY N/B NOTES
DTD 03/31/2021 1.250% 03/31/2028
91282CBS9 2,555,000.00 AA+ Aaa 05/08/23 05/09/23 2,299,400.20 3.49 8,028.01 2,306,976.70 2,235,625.00
US TREASURY N/B NOTES
DTD 03/31/2023 3.625% 03/31/2028
91282CGT2 2,675,000.00 AA+ Aaa 05/01/23 05/02/23 2,672,178.71 3.65 24,374.66 2,672,273.01 2,613,140.63
US TREASURY N/B NOTES
DTD 04/30/2023 3.500% 04/30/2028
91282CHA2 3,320,000.00 AA+ Aaa 05/01/23 05/01/23 3,304,567.19 3.60 19,577.17 3,305,082.74 3,226,106.42
US TREASURY N/B NOTES
DTD 04/30/2023 3.500% 04/30/2028
91282CHA2 6,530,000.00 AA+ Aaa 05/03/23 05/04/23 6,559,844.14 3.40 38,505.71 6,558,894.63 6,345,323.76 Security Type Sub-Total 257,096,000.00 247,839,334.94 2.46 718,312.10 250,185,677.88 238,470,305.73 Supra-National Agency Bond / Note
INTL BK RECON & DEVELOP NOTES
DTD 11/24/2020 0.250% 11/24/2023
459058JM6 1,790,000.00 AAA Aaa 11/17/20 11/24/20 1,786,151.50 0.32 459.93 1,789,486.87 1,754,180.31
INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
4581X0DZ8 4,095,000.00 AAA Aaa 09/15/21 09/23/21 4,091,969.70 0.52 5,573.75 4,093,755.81 3,859,148.48 Security Type Sub-Total 5,885,000.00 5,878,121.20 0.46 6,033.68 5,883,242.68 5,613,328.79 CITY OF MODESTO - COMBINED PORTFOLIO Page 9
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Managed Account Detail of Securities Held For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Municipal Bond / Note
CA ST TXBL GO BONDS
DTD 10/24/2019 2.400% 10/01/2023
13063DRJ9 2,310,000.00 AA- Aa2 10/16/19 10/24/19 2,356,223.10 1.87 13,860.00 2,312,957.25 2,292,305.40
MD ST TXBL GO BONDS
DTD 08/05/2020 0.510% 08/01/2024
574193TQ1 620,000.00 AAA Aaa 07/23/20 08/05/20 619,826.40 0.52 1,317.50 619,952.70 588,200.20
CA ST UNIV TXBL REV BONDS
DTD 09/17/2020 0.685% 11/01/2024
13077DMK5 600,000.00 AA- Aa2 08/27/20 09/17/20 600,000.00 0.69 685.00 600,000.00 562,584.00
CA ST DEPT WTR RES WTR SYS TXBL REV
BNDS
DTD 08/06/2020 0.560% 12/01/2024
13067WRB0 100,000.00 AAA Aa1 07/30/20 08/06/20 100,000.00 0.56 46.67 100,000.00 93,517.00
UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 220,000.00 AA Aa2 07/14/20 07/16/20 220,796.40 0.81 248.22 220,300.37 204,916.80
UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 510,000.00 AA Aa2 07/10/20 07/16/20 510,000.00 0.88 575.42 510,000.00 475,034.40
FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 505,000.00 AA Aa3 09/03/20 09/16/20 508,570.35 1.11 3,176.45 506,492.24 467,897.65
FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 1,295,000.00 AA Aa3 09/03/20 09/16/20 1,295,000.00 1.26 8,145.55 1,295,000.00 1,199,856.35
LOS ANGELES CCD, CA TXBL GO BONDS
DTD 11/10/2020 0.773% 08/01/2025
54438CYK2 925,000.00 AA+ Aaa 10/30/20 11/10/20 925,000.00 0.77 2,979.27 925,000.00 849,251.75
NJ TURNPIKE AUTHORITY TXBL REV BONDS
DTD 02/04/2021 1.047% 01/01/2026
646140DP5 505,000.00 AA- A1 01/22/21 02/04/21 505,000.00 1.05 2,643.68 505,000.00 461,453.85 Security Type Sub-Total 7,590,000.00 7,640,416.25 1.22 33,677.76 7,594,702.56 7,195,017.40 Federal Agency Commercial Mortgage-Backed Security
FANNIEMAE-ACES
DTD 04/01/2014 3.346% 03/01/2024
3136AJB54 457,501.73 AA+ Aaa 12/13/19 12/18/19 479,733.45 2.14 1,275.67 461,035.63 450,503.64 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
3137BTUM1 2,475,000.00 AA+ Aaa 05/19/23 05/24/23 2,398,816.41 4.31 6,903.19 2,401,119.49 2,363,319.36 CITY OF MODESTO - COMBINED PORTFOLIO Page 10
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Managed Account Detail of Securities Held For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Security Type Sub-Total 2,932,501.73 2,878,549.86 3.96 8,178.86 2,862,155.12 2,813,823.00 Federal Agency Bond / Note
FANNIE MAE NOTES
DTD 11/25/2020 0.250% 11/27/2023
3135G06H1 900,000.00 AA+ Aaa 01/25/21 01/26/21 901,368.00 0.20 212.50 900,196.94 881,793.90
FREDDIE MAC NOTES
DTD 12/04/2020 0.250% 12/04/2023
3137EAFA2 2,015,000.00 AA+ Aaa 12/02/20 12/04/20 2,013,005.15 0.28 377.81 2,014,715.80 1,971,520.33
FEDERAL HOME LOAN BANKS NOTES
DTD 12/09/2013 3.375% 12/08/2023
3130A0F70 2,025,000.00 AA+ Aaa 01/30/19 01/31/19 2,084,684.63 2.72 4,366.41 2,030,389.13 2,006,687.93
FANNIE MAE NOTES
DTD 01/10/2020 1.625% 01/07/2025
3135G0X24 3,500,000.00 AA+ Aaa 03/04/20 03/05/20 3,628,135.00 0.85 27,489.58 3,540,273.07 3,319,116.50
FREDDIE MAC NOTES
DTD 02/14/2020 1.500% 02/12/2025
3137EAEP0 640,000.00 AA+ Aaa 02/27/20 02/28/20 649,676.80 1.18 3,706.67 643,163.26 604,218.24
FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
3130AJHU6 2,370,000.00 AA+ Aaa 04/15/20 04/16/20 2,358,244.80 0.60 2,534.58 2,365,791.59 2,188,678.41
FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 475,000.00 AA+ Aaa 04/29/20 04/30/20 475,731.50 0.59 569.01 475,265.96 439,312.78
FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 1,910,000.00 AA+ Aaa 06/03/20 06/05/20 1,919,779.20 0.52 2,288.02 1,913,627.41 1,766,499.79
FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 3,195,000.00 AA+ Aaa 04/22/20 04/24/20 3,188,418.30 0.67 3,827.35 3,192,614.86 2,954,956.46
FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 3,345,000.00 AA+ Aaa 05/01/20 05/04/20 3,347,475.30 0.61 4,007.03 3,345,901.97 3,093,686.80
FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 200,000.00 AA+ Aaa 09/17/20 09/18/20 200,712.00 0.42 38.89 200,294.58 183,477.00
FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 1,075,000.00 AA+ Aaa 10/01/20 10/05/20 1,080,041.75 0.40 209.03 1,077,106.61 986,188.87
FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 1,190,000.00 AA+ Aaa 01/04/21 01/05/21 1,197,223.30 0.36 231.39 1,193,189.10 1,091,688.15
FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 3,675,000.00 AA+ Aaa 06/17/20 06/19/20 3,667,392.75 0.54 714.58 3,672,009.65 3,371,389.88 CITY OF MODESTO - COMBINED PORTFOLIO Page 11
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Managed Account Detail of Securities Held For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Federal Agency Bond / Note
FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 3,820,000.00 AA+ Aaa 10/02/20 10/05/20 3,836,311.40 0.41 742.78 3,826,815.43 3,504,410.70
FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
3137EAEU9 2,220,000.00 AA+ Aaa 07/21/20 07/23/20 2,208,944.40 0.48 3,700.00 2,215,448.05 2,025,658.98
FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 450,000.00 AA+ Aaa 10/22/20 10/23/20 447,480.00 0.49 590.62 448,879.05 409,139.55
FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 550,000.00 AA+ Aaa 10/15/20 10/16/20 548,289.50 0.44 721.87 549,242.13 500,059.45
FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 2,360,000.00 AA+ Aaa 08/25/20 08/27/20 2,348,955.20 0.47 3,097.50 2,355,240.56 2,145,709.64
FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 130,000.00 AA+ Aaa 09/29/20 09/30/20 129,829.70 0.40 132.71 129,923.70 117,892.06
FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 3,400,000.00 AA+ Aaa 09/23/20 09/25/20 3,389,766.00 0.44 3,470.83 3,395,427.24 3,083,330.80
FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 2,040,000.00 AA+ Aaa 11/19/20 11/24/20 2,039,224.80 0.51 1,530.00 2,039,631.47 1,846,575.36
FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 2,215,000.00 AA+ Aaa 11/09/20 11/12/20 2,207,070.30 0.57 1,661.25 2,211,255.06 2,004,982.56 Security Type Sub-Total 43,700,000.00 43,867,759.78 0.64 66,220.41 43,736,402.62 40,496,974.14 Corporate Note
TOYOTA MOTOR CREDIT CORP CORP
NOTES
DTD 09/20/2018 3.450% 09/20/2023
89236TFN0 2,230,000.00 A+ A1 11/13/18 11/15/18 2,210,175.30 3.65 21,584.54 2,229,092.77 2,218,854.46
US BANK NA CINCINNATI CORP NOTES
(CALLAB
DTD 02/04/2019 3.375% 02/05/2024
91159HHV5 2,860,000.00 A A3 07/19/19 07/23/19 2,995,535.40 2.27 39,146.25 2,875,661.13 2,817,580.48
PFIZER INC CORP NOTES
DTD 03/11/2019 2.950% 03/15/2024
717081ES8 3,445,000.00 A+ A1 04/02/19 04/04/19 3,486,374.45 2.69 29,923.65 3,450,328.88 3,382,838.42 CITY OF MODESTO - COMBINED PORTFOLIO Page 12
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Managed Account Detail of Securities Held For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Corporate Note
AMAZON.COM INC CORPORATE NOTES
DTD 05/12/2021 0.450% 05/12/2024
023135BW5 1,590,000.00 AA A1 05/10/21 05/12/21 1,587,678.60 0.50 973.88 1,589,330.69 1,522,313.70
JP MORGAN CHASE BANK CORP NOTE
DTD 05/13/2014 3.625% 05/13/2024
46625HJX9 1,320,000.00 A- A1 09/22/20 09/24/20 1,461,028.80 0.65 6,380.00 1,353,689.62 1,296,653.16
WALMART INC CORPORATE NOTES
DTD 04/23/2019 2.850% 07/08/2024
931142EL3 4,000,000.00 AA Aa2 07/10/19 07/12/19 4,124,840.00 2.19 54,783.33 4,023,881.83 3,900,032.00
JPMORGAN CHASE & CO CORPORATE
NOTES (CAL
DTD 09/16/2020 0.653% 09/16/2024
46647PBS4 1,405,000.00 A- A1 09/09/20 09/16/20 1,405,000.00 0.65 2,675.94 1,405,000.00 1,388,627.54
PACCAR FINANCIAL CORP CORPORATE
NOTES
DTD 02/06/2020 1.800% 02/06/2025
69371RQ66 1,810,000.00 A+ A1 05/11/20 05/13/20 1,839,014.30 1.45 13,122.50 1,819,827.97 1,708,978.47
NOVARTIS CAPITAL CORP
DTD 02/14/2020 1.750% 02/14/2025
66989HAP3 2,290,000.00 AA- A1 05/07/20 05/11/20 2,378,050.50 0.92 15,250.76 2,319,006.69 2,171,490.21
MASTERCARD INC CORP NOTES (CALLABLE)
DTD 12/03/2019 2.000% 03/03/2025
57636QAN4 1,760,000.00 A+ Aa3 05/04/20 05/06/20 1,836,225.60 1.08 11,537.78 1,785,628.33 1,671,971.84 AMAZON.COM INC CORPORATE NOTES
DTD 04/13/2022 3.000% 04/13/2025
023135CE4 3,430,000.00 AA A1 04/11/22 04/13/22 3,424,546.30 3.06 22,295.00 3,426,755.65 3,306,345.07
JPMORGAN CHASE & CO (CALLABLE) CORP
NOTE
DTD 06/01/2021 0.824% 06/01/2025
46647PCH7 865,000.00 A- A1 05/24/21 06/01/21 865,000.00 0.82 593.97 865,000.00 821,967.98
BRISTOL-MYERS SQUIBB CO CORPORATE
NOTES
DTD 11/13/2020 0.750% 11/13/2025
110122DN5 2,230,000.00 A+ A2 06/23/21 06/25/21 2,210,888.90 0.95 2,230.00 2,219,669.03 2,022,654.60
BANK OF NY MELLON CORP (CALLABLE)
CORPOR
DTD 01/28/2021 0.750% 01/28/2026
06406RAQ0 3,465,000.00 A A1 02/02/21 02/04/21 3,465,831.60 0.75 11,044.69 3,465,423.71 3,078,167.40
BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 03/22/2022 3.384% 04/02/2026
06051GKM0 2,025,000.00 A- A1 03/17/22 03/22/22 2,025,000.00 3.38 16,941.15 2,025,000.00 1,940,468.40 CITY OF MODESTO - COMBINED PORTFOLIO Page 13
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Managed Account Detail of Securities Held For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Corporate Note
MICROSOFT CORP (CALLABLE) NOTES
DTD 08/08/2016 2.400% 08/08/2026
594918BR4 3,000,000.00 AAA Aaa 02/23/22 02/25/22 3,033,150.00 2.14 28,600.00 3,022,532.49 2,816,202.00
MASTERCARD INC CORP NOTES (CALLABLE)
DTD 11/21/2016 2.950% 11/21/2026
57636QAG9 2,560,000.00 A+ Aa3 12/20/22 12/22/22 2,434,099.20 4.33 8,391.11 2,450,915.32 2,414,115.84
TARGET CORP CORP NOTES (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 365,000.00 A A2 01/19/22 01/24/22 364,379.50 1.99 3,281.96 364,558.10 333,984.49
MICROSOFT CORP CORP NOTES (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
594918BY9 3,000,000.00 AAA Aaa 12/14/22 12/16/22 2,914,170.00 4.06 39,875.00 2,925,345.49 2,885,340.00
HOME DEPOT INC CORP NOTES (CALLABLE)
DTD 09/14/2017 2.800% 09/14/2027
437076BT8 3,610,000.00 A A2 01/26/23 01/30/23 3,405,674.00 4.16 30,043.22 3,424,073.02 3,356,899.29
WALMART INC CORPORATE NOTES
(CALLABLE)
DTD 04/18/2023 3.900% 04/15/2028
931142FB4 1,220,000.00 AA Aa2 05/16/23 05/18/23 1,217,279.40 3.95 9,648.17 1,217,346.13 1,189,581.74
APPLE INC CORP NOTES CALLABLE
DTD 05/10/2023 4.000% 05/10/2028
037833ET3 5,200,000.00 AA+ Aaa 05/16/23 05/18/23 5,216,380.00 3.93 29,466.67 5,215,977.14 5,112,359.20 Security Type Sub-Total 53,680,000.00 53,900,321.85 2.53 397,789.57 53,474,043.99 51,357,426.29 Commercial Paper
NATIXIS NY BRANCH COMM PAPER
DTD 01/03/2023 0.000% 07/03/2023
63873KU39 10,365,000.00 A-1 P-1 01/04/23 01/05/23 10,106,799.21 5.14 0.00 10,362,115.07 10,360,522.32
ING (US) FUNDING LLC COMM PAPER
DTD 01/05/2023 0.000% 08/04/2023
45685RV46 10,290,000.00 A-1 P-1 01/10/23 01/11/23 9,997,020.83 5.15 0.00 10,241,408.33 10,237,726.80
LMA AMERICAS LLC COMM PAPER
DTD 05/05/2023 0.000% 09/07/2023
53944RW79 10,450,000.00 A-1 P-1 05/09/23 05/09/23 10,265,249.81 5.35 0.00 10,346,173.45 10,339,951.05 Security Type Sub-Total 31,105,000.00 30,369,069.85 5.21 0.00 30,949,696.85 30,938,200.17 Certificate of Deposit
CITY OF MODESTO - COMBINED PORTFOLIO Page 14
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Managed Account Detail of Securities Held For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Certificate of Deposit
TORONTO DOMINION BANK NY CERT
DEPOS
DTD 10/31/2022 5.470% 10/25/2024
89115B6F2 3,355,000.00 A A1 10/27/22 10/31/22 3,355,000.00 5.44 123,874.99 3,355,000.00 3,352,836.03 Security Type Sub-Total 3,355,000.00 3,355,000.00 5.44 123,874.99 3,355,000.00 3,352,836.03 Asset-Backed Security
HAROT 2020-1 A3
DTD 02/26/2020 1.610% 04/22/2024
43813RAC1 12,676.90 NR Aaa 02/19/20 02/26/20 12,674.41 1.61 5.67 12,676.41 12,655.82 CARMX 2020-1 A3
DTD 01/22/2020 1.890% 12/16/2024
14315XAC2 89,000.06 AAA NR 01/14/20 01/22/20 88,982.60 1.89 74.76 88,994.85 88,587.51 HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
43813GAC5 262,808.91 NR Aaa 02/17/21 02/24/21 262,804.09 0.27 19.71 262,806.81 256,552.77 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 301,864.41 AAA NR 04/20/21 04/28/21 301,832.66 0.38 50.98 301,848.41 294,149.18 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
14316NAC3 189,425.84 AAA NR 01/20/21 01/27/21 189,388.41 0.34 28.62 189,406.99 183,943.55 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
89239BAC5 895,288.63 AAA Aaa 09/21/21 09/27/21 895,217.27 0.43 171.10 895,246.43 862,393.49 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 509,246.33 AAA NR 04/13/21 04/21/21 509,136.59 0.52 117.69 509,186.45 491,337.00 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 465,000.00 AAA NR 11/09/21 11/17/21 464,896.21 0.75 152.93 464,933.61 446,939.77 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
254683CP8 775,000.00 AAA Aaa 09/20/21 09/27/21 774,834.07 0.58 199.78 774,892.79 729,278.80 Security Type Sub-Total 3,500,311.08 3,499,766.31 0.54 821.24 3,499,992.75 3,365,837.89 Managed Account Sub-Total 408,843,812.81 399,228,340.04 2.47 1,354,908.61 401,540,914.45 383,603,749.44 CITY OF MODESTO - COMBINED PORTFOLIO Page 15
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Managed Account Detail of Securities Held For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
$408,843,812.81 $399,228,340.04 2.47% $1,354,908.61 $401,540,914.45 $383,603,749.44 $384,958,658.05
$1,354,908.61
Total Investments
Accrued Interest
Securities Sub-Total
CITY OF MODESTO - COMBINED PORTFOLIO Page 16
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Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY NOTES 91282CAP6 10,490,000.00 CITIGRP 98.55 10,337,567.71 64,743.49 (1,970.64) DTD 10/15/2020 0.125% 10/15/2023
0.30 5.17
US TREASURY NOTES 912828U57 3,275,000.00 BNP_PARI 98.67 3,231,504.07 15,095.86 (38,509.39) DTD 11/30/2016 2.125% 11/30/2023
0.42 5.36
US TREASURY NOTES 91282CBA8 4,430,000.00 NOMURA 97.72 4,328,940.63 65,411.72 (56,001.55) DTD 12/15/2020 0.125% 12/15/2023
0.46 5.21
US TREASURY NOTES 9128285U0 270,000.00 MERRILL 98.69 266,456.25 (4,345.31) (3,625.47) DTD 12/31/2018 2.625% 12/31/2023
0.50 5.32
US TREASURY NOTES 9128286G0 457,000.00 WELLS_F 98.00 447,860.00 (32,811.17) (15,318.40) DTD 02/28/2019 2.375% 02/29/2024
0.66 5.46
US TREASURY NOTES 9128286G0 1,564,000.00 WELLS_F 98.00 1,532,720.00 (111,862.66) (52,312.85) DTD 02/28/2019 2.375% 02/29/2024
0.66 5.46
US TREASURY NOTES 91282CBR1 4,450,000.00 RBS 96.45 4,292,163.84 29,202.90 (89,677.86) DTD 03/15/2021 0.250% 03/15/2024
0.71 5.41
US TREASURY N/B NOTES 91282CBV2 4,890,000.00 BARCLAY 96.11 4,699,748.68 (193,880.62) (191,221.60) DTD 04/15/2021 0.375% 04/15/2024
0.79 5.46
US TREASURY N/B NOTES 91282CCG4 4,485,000.00 NOMURA 95.20 4,269,859.93 7,007.59 (117,950.47) DTD 06/15/2021 0.250% 06/15/2024
0.96 5.45
US TREASURY NOTES 9128282N9 2,450,000.00 TD 96.58 2,366,163.94 (122,978.64) (92,348.12) DTD 07/31/2017 2.125% 07/31/2024
1.07 5.41
US TREASURY NOTES 9128282U3 1,630,000.00 MERRILL 96.08 1,566,073.36 (106,141.09) (73,819.93) DTD 08/31/2017 1.875% 08/31/2024
1.15 5.38
US TREASURY N/B NOTES 91282CCX7 4,505,000.00 BARCLAY 94.25 4,245,962.50 (18,477.54) (139,836.26) DTD 09/15/2021 0.375% 09/15/2024
1.21 5.35
US TREASURY NOTES 9128282Y5 1,850,000.00 HSBC 96.16 1,778,890.63 (126,392.57) (84,960.48) DTD 10/02/2017 2.125% 09/30/2024
1.24 5.34
US TREASURY NOTES 9128283D0 460,000.00 MORGAN_S 96.09 442,031.25 (33,008.59) (21,996.98) DTD 10/31/2017 2.250% 10/31/2024
1.32 5.32
US TREASURY NOTES 9128283J7 1,215,000.00 NOMURA 95.77 1,163,552.28 (76,412.17) (58,541.29) DTD 11/30/2017 2.125% 11/30/2024
1.40 5.26
US TREASURY NOTES 9128283J7 3,450,000.00 RBS 95.77 3,303,913.89 (226,002.13) (169,225.57) DTD 11/30/2017 2.125% 11/30/2024
1.40 5.26
US TREASURY NOTES 9128283J7 4,585,000.00 HSBC 95.77 4,390,853.68 (457,962.92) (298,464.64) DTD 11/30/2017 2.125% 11/30/2024
1.40 5.26
CITY OF MODESTO - COMBINED PORTFOLIO Page 17
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Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B NOTES 91282CDN8 4,445,000.00 BNP_PAR 94.11 4,183,161.94 (68,758.37) (157,146.83) DTD 12/15/2021 1.000% 12/15/2024
1.45 5.25
US TREASURY N/B NOTES 91282CDZ1 4,400,000.00 RBS 94.39 4,153,187.28 (101,922.10) (164,315.19) DTD 02/15/2022 1.500% 02/15/2025
1.60 5.14
US TREASURY NOTES 912828ZL7 4,945,000.00 JPM_CHA 92.00 4,549,400.00 (345,377.34) (372,602.77) DTD 04/30/2020 0.375% 04/30/2025
1.83 4.99
US TREASURY NOTES 912828XZ8 4,230,000.00 BARCLAY 95.92 4,057,495.52 (174,652.53) (173,833.36) DTD 07/02/2018 2.750% 06/30/2025
1.96 4.92
US TREASURY NOTES 91282CAJ0 4,340,000.00 WELLS_F 90.72 3,937,193.75 (354,320.31) (376,964.48) DTD 08/31/2020 0.250% 08/31/2025
2.16 4.81
US TREASURY NOTES 91282CAJ0 4,635,000.00 BNP_PAR 90.72 4,204,814.06 (58,118.56) (192,925.58) DTD 08/31/2020 0.250% 08/31/2025
2.16 4.81
US TREASURY NOTES 91282CAM3 1,100,000.00 BNP_PAR 90.56 996,187.50 (79,835.94) (90,341.05) DTD 09/30/2020 0.250% 09/30/2025
2.24 4.72
US TREASURY NOTES 91282CAM3 4,550,000.00 HSBC 90.56 4,120,593.75 (352,980.47) (387,016.24) DTD 09/30/2020 0.250% 09/30/2025
2.24 4.72
US TREASURY NOTES 91282CAT8 5,010,000.00 HSBC 90.25 4,521,525.00 (372,814.45) (428,500.26) DTD 10/31/2020 0.250% 10/31/2025
2.33 4.71
US TREASURY NOTES 91282CAT8 6,930,000.00 TD 90.25 6,254,325.00 (528,953.91) (591,453.54) DTD 10/31/2020 0.250% 10/31/2025
2.33 4.71
US TREASURY NOTES 91282CAZ4 4,250,000.00 WELLS_F 90.25 3,835,625.00 (297,666.02) (345,164.77) DTD 11/30/2020 0.375% 11/30/2025
2.41 4.69
US TREASURY NOTES 91282CAZ4 4,635,000.00 WELLS_F 90.25 4,183,087.50 (71,697.66) (200,052.26) DTD 11/30/2020 0.375% 11/30/2025
2.41 4.69
US TREASURY NOTES 91282CBC4 500,000.00 HSBC 90.14 450,703.10 (47,910.18) (48,589.22) DTD 12/31/2020 0.375% 12/31/2025
2.49 4.59
US TREASURY NOTES 91282CBC4 1,040,000.00 CITIGRP 90.14 937,462.45 (98,515.68) (100,515.55) DTD 12/31/2020 0.375% 12/31/2025
2.49 4.59
US TREASURY NOTES 91282CBC4 3,735,000.00 JPM_CHA 90.14 3,366,752.16 (279,687.49) (321,432.25) DTD 12/31/2020 0.375% 12/31/2025
2.49 4.59
US TREASURY NOTES 91282CBH3 2,400,000.00 BNP_PAR 89.77 2,154,374.88 (199,500.12) (219,508.81) DTD 01/31/2021 0.375% 01/31/2026
2.57 4.62
US TREASURY NOTES 91282CBH3 5,000,000.00 NOMURA 89.77 4,488,281.00 (231,250.25) (328,044.04) DTD 01/31/2021 0.375% 01/31/2026
2.57 4.62
CITY OF MODESTO - COMBINED PORTFOLIO Page 18
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Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY NOTES 91282CBH3 5,775,000.00 MORGAN_ 89.77 5,183,964.55 (386,203.42) (460,775.51) DTD 01/31/2021 0.375% 01/31/2026
2.57 4.62
US TREASURY NOTES 91282CBH3 7,980,000.00 JPM_CHA 89.77 7,163,296.48 (93,516.02) (317,133.21) DTD 01/31/2021 0.375% 01/31/2026
2.57 4.62
US TREASURY NOTES 9128286F2 3,210,000.00 GOLDMAN 94.78 3,042,478.13 (450,403.12) (318,340.20) DTD 02/28/2019 2.500% 02/28/2026
2.57 4.60
US TREASURY NOTES 91282CBQ3 4,645,000.00 NOMURA 89.83 4,172,516.17 (87,456.88) (209,215.23) DTD 02/28/2021 0.500% 02/28/2026
2.65 4.59
US TREASURY NOTES 91282CBQ3 6,000,000.00 WELLS_F 89.83 5,389,687.20 (448,594.05) (508,400.66) DTD 02/28/2021 0.500% 02/28/2026
2.65 4.59
US TREASURY N/B NOTES 91282CBT7 2,480,000.00 WELLS_F 90.38 2,241,300.00 (237,731.25) (238,115.49) DTD 03/31/2021 0.750% 03/31/2026
2.72 4.51
US TREASURY N/B NOTES 91282CBT7 4,925,000.00 MORGAN_ 90.38 4,450,968.75 (445,750.98) (458,222.01) DTD 03/31/2021 0.750% 03/31/2026
2.72 4.51
US TREASURY N/B NOTES 91282CCF6 1,405,000.00 MERRILL 89.81 1,261,865.63 (135,121.48) (138,396.04) DTD 05/31/2021 0.750% 05/31/2026
2.89 4.52
US TREASURY N/B NOTES 91282CCF6 4,615,000.00 NOMURA 89.81 4,144,846.87 (108,704.89) (216,065.75) DTD 05/31/2021 0.750% 05/31/2026
2.89 4.52
US TREASURY N/B NOTES 91282CCF6 4,800,000.00 CITIGRP 89.81 4,311,000.00 (88,125.00) (195,172.14) DTD 05/31/2021 0.750% 05/31/2026
2.89 4.52
US TREASURY N/B NOTES 91282CCW9 4,640,000.00 RBC 89.19 4,138,300.00 (119,806.25) (226,746.01) DTD 08/31/2021 0.750% 08/31/2026
3.13 4.45
US TREASURY N/B NOTES 91282CCZ2 4,310,000.00 RBC 89.47 3,856,103.13 (112,295.70) (206,199.50) DTD 09/30/2021 0.875% 09/30/2026
3.20 4.39
US TREASURY NOTES 912828U24 4,545,000.00 RBC 92.50 4,204,125.00 (151,795.90) (197,053.57) DTD 11/15/2016 2.000% 11/15/2026
3.27 4.42
US TREASURY NOTES 912828V98 9,220,000.00 JPM_CHA 92.98 8,573,159.84 (408,416.72) (459,244.52) DTD 02/15/2017 2.250% 02/15/2027
3.47 4.36
US TREASURY N/B NOTES 91282CEF4 910,000.00 BARCLAY 93.72 852,840.63 (2,132.81) (9,541.57) DTD 03/31/2022 2.500% 03/31/2027
3.57 4.33
US TREASURY N/B NOTES 912828ZN3 6,480,000.00 NOMURA 86.64 5,614,312.18 (177,187.82) (308,596.15) DTD 04/30/2020 0.500% 04/30/2027
3.80 4.32
US TREASURY NOTES 912828ZV5 5,545,000.00 WELLS_F 86.20 4,779,963.00 (140,791.30) (254,449.48) DTD 06/30/2020 0.500% 06/30/2027
3.96 4.29
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Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY NOTES 9128282R0 1,200,000.00 BNP_PAR 92.44 1,109,250.00 (33,375.00) (43,011.46) DTD 08/15/2017 2.250% 08/15/2027
3.92 4.27
US TREASURY NOTES 9128282R0 2,985,000.00 HSBC 92.44 2,759,259.38 (70,777.14) (96,375.32) DTD 08/15/2017 2.250% 08/15/2027
3.92 4.27
US TREASURY N/B NOTES 91282CFM8 5,380,000.00 MERRILL 99.44 5,349,737.50 4,833.59 133.22 DTD 09/30/2022 4.125% 09/30/2027
3.90 4.27
US TREASURY N/B NOTES 91282CFU0 2,715,000.00 NOMURA 99.47 2,700,576.56 (52,178.91) (47,850.12) DTD 10/31/2022 4.125% 10/31/2027
3.99 4.26
US TREASURY N/B NOTES 91282CFU0 3,160,000.00 JPM_CHA 99.47 3,143,212.50 (86,282.81) (78,522.11) DTD 10/31/2022 4.125% 10/31/2027
3.99 4.26
US TREASURY NOTES 91282CAU5 8,775,000.00 WELLS_F 85.34 7,488,914.06 16,110.35 (114,183.31) DTD 10/31/2020 0.500% 10/31/2027
4.28 4.24
US TREASURY N/B NOTES 91282CGC9 4,250,000.00 NOMURA 98.63 4,191,562.50 (75,371.09) (75,107.45) DTD 12/31/2022 3.875% 12/31/2027
4.17 4.21
US TREASURY N/B NOTES 91282CGH8 2,220,000.00 BNP_PAR 97.13 2,156,175.00 (62,090.63) (62,135.02) DTD 01/31/2023 3.500% 01/31/2028
4.21 4.20
US TREASURY NOTES 91282CBJ9 3,450,000.00 HSBC 85.77 2,958,913.89 (35,847.83) (73,493.49) DTD 01/31/2021 0.750% 01/31/2028
4.49 4.19
US TREASURY N/B NOTES 91282CGP0 2,825,000.00 TD 99.28 2,804,695.31 11,035.15 9,037.67 DTD 02/28/2023 4.000% 02/29/2028
4.25 4.17
US TREASURY N/B NOTES 91282CGP0 2,970,000.00 JPM_CHA 99.28 2,948,653.13 17,518.36 15,021.25 DTD 02/28/2023 4.000% 02/29/2028
4.25 4.17
US TREASURY N/B NOTES 91282CBS9 2,555,000.00 BNP_PAR 87.50 2,235,625.00 (63,775.20) (71,351.70) DTD 03/31/2021 1.250% 03/31/2028
4.60 4.18
US TREASURY N/B NOTES 91282CGT2 2,675,000.00 RBS 97.69 2,613,140.63 (59,038.08) (59,132.38) DTD 03/31/2023 3.625% 03/31/2028
4.36 4.17
US TREASURY N/B NOTES 91282CHA2 3,320,000.00 BARCLAY 97.17 3,226,106.42 (78,460.77) (78,976.32) DTD 04/30/2023 3.500% 04/30/2028
4.46 4.15
US TREASURY N/B NOTES 91282CHA2 6,530,000.00 GOLDMAN 97.17 6,345,323.76 (214,520.38) (213,570.87) DTD 04/30/2023 3.500% 04/30/2028
4.46 4.15
Security Type Sub-Total 257,096,000.00 238,470,305.73 (9,369,029.21) (11,715,372.15) 2.59 4.69 Supra-National Agency Bond / Note
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Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Supra-National Agency Bond / Note
INTL BK RECON & DEVELOP NOTES 459058JM6 1,790,000.00 TD 98.00 1,754,180.31 (31,971.19) (35,306.56) DTD 11/24/2020 0.250% 11/24/2023
0.40 5.36
INTER-AMERICAN DEVEL BK NOTES 4581X0DZ8 4,095,000.00 JPM_CHA 94.24 3,859,148.48 (232,821.22) (234,607.33) DTD 09/23/2021 0.500% 09/23/2024
1.23 5.40
Security Type Sub-Total 5,885,000.00 5,613,328.79 (264,792.41) (269,913.89) 0.97 5.39 Municipal Bond / Note
CA ST TXBL GO BONDS 13063DRJ9 2,310,000.00 MORGAN_S 99.23 2,292,305.40 (63,917.70) (20,651.85) DTD 10/24/2019 2.400% 10/01/2023
0.26 5.44
MD ST TXBL GO BONDS 574193TQ1 620,000.00 JPM_CHA 94.87 588,200.20 (31,626.20) (31,752.50) DTD 08/05/2020 0.510% 08/01/2024
1.08 5.44
CA ST UNIV TXBL REV BONDS 13077DMK5 600,000.00 GOLDMAN 93.76 562,584.00 (37,416.00) (37,416.00) DTD 09/17/2020 0.685% 11/01/2024
1.33 5.59
CA ST DEPT WTR RES WTR SYS TXBL REV 13067WRB0 100,000.00 MORGAN_ 93.52 93,517.00 (6,483.00) (6,483.00) BNDS
DTD 08/06/2020 0.560% 12/01/2024
1.42 5.36
UNIV OF CAL TXBL REV BONDS 91412HGE7 220,000.00 JPM_CHA 04/15/25 93.14 204,916.80 (15,879.60) (15,383.57) DTD 07/16/2020 0.883% 05/15/2025
1.78 4.75
UNIV OF CAL TXBL REV BONDS 91412HGE7 510,000.00 JPM_CHA 04/15/25 93.14 475,034.40 (34,965.60) (34,965.60) DTD 07/16/2020 0.883% 05/15/2025
1.78 4.75
FL ST BOARD OF ADMIN TXBL REV BONDS 341271AD6 505,000.00 MERRILL 92.65 467,897.65 (40,672.70) (38,594.59) DTD 09/16/2020 1.258% 07/01/2025
1.97 5.17
FL ST BOARD OF ADMIN TXBL REV BONDS 341271AD6 1,295,000.00 MERRILL 92.65 1,199,856.35 (95,143.65) (95,143.65) DTD 09/16/2020 1.258% 07/01/2025
1.97 5.17
LOS ANGELES CCD, CA TXBL GO BONDS 54438CYK2 925,000.00 MERRILL 91.81 849,251.75 (75,748.25) (75,748.25) DTD 11/10/2020 0.773% 08/01/2025
2.07 4.95
NJ TURNPIKE AUTHORITY TXBL REV 646140DP5 505,000.00 CITIGRP 91.38 461,453.85 (43,546.15) (43,546.15) BONDS
DTD 02/04/2021 1.047% 01/01/2026
2.46 4.74
Security Type Sub-Total 7,590,000.00 7,195,017.40 (445,398.85) (399,685.16) 1.32 5.22 Federal Agency Commercial Mortgage-Backed Security
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Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Federal Agency Commercial Mortgage-Backed Security
FANNIEMAE-ACES 3136AJB54 457,501.73 JPM_CHAS 98.47 450,503.64 (29,229.81) (10,531.99) DTD 04/01/2014 3.346% 03/01/2024
0.66 5.68
FHMS K061 A2 3137BTUM1 2,475,000.00 CITIGRP 95.49 2,363,319.36 (35,497.05) (37,800.13) DTD 01/30/2017 3.347% 11/01/2026
3.00 4.81
Security Type Sub-Total 2,932,501.73 2,813,823.00 (64,726.86) (48,332.12) 2.63 4.95 Federal Agency Bond / Note
FANNIE MAE NOTES 3135G06H1 900,000.00 MORGAN_ 97.98 881,793.90 (19,574.10) (18,403.04) DTD 11/25/2020 0.250% 11/27/2023
0.41 5.31
FREDDIE MAC NOTES 3137EAFA2 2,015,000.00 CITIGRP 97.84 1,971,520.33 (41,484.82) (43,195.47) DTD 12/04/2020 0.250% 12/04/2023
0.43 5.41
FEDERAL HOME LOAN BANKS NOTES 3130A0F70 2,025,000.00 BARCLAYS 99.10 2,006,687.93 (77,996.70) (23,701.20) DTD 12/09/2013 3.375% 12/08/2023
0.44 5.47
FANNIE MAE NOTES 3135G0X24 3,500,000.00 CITIGRP 94.83 3,319,116.50 (309,018.50) (221,156.57) DTD 01/10/2020 1.625% 01/07/2025
1.49 5.21
FREDDIE MAC NOTES 3137EAEP0 640,000.00 WELLS_FA 94.41 604,218.24 (45,458.56) (38,945.02) DTD 02/14/2020 1.500% 02/12/2025
1.59 5.15
FEDERAL HOME LOAN BANK NOTES 3130AJHU6 2,370,000.00 CITIGRP 92.35 2,188,678.41 (169,566.39) (177,113.18) DTD 04/16/2020 0.500% 04/14/2025
1.78 5.02
FANNIE MAE NOTES 3135G03U5 475,000.00 WELLS_F 92.49 439,312.78 (36,418.72) (35,953.18) DTD 04/24/2020 0.625% 04/22/2025
1.80 5.02
FANNIE MAE NOTES 3135G03U5 1,910,000.00 HSBC 92.49 1,766,499.79 (153,279.41) (147,127.62) DTD 04/24/2020 0.625% 04/22/2025
1.80 5.02
FANNIE MAE NOTES 3135G03U5 3,195,000.00 CITIGRP 92.49 2,954,956.46 (233,461.84) (237,658.40) DTD 04/24/2020 0.625% 04/22/2025
1.80 5.02
FANNIE MAE NOTES 3135G03U5 3,345,000.00 WELLS_F 92.49 3,093,686.80 (253,788.50) (252,215.17) DTD 04/24/2020 0.625% 04/22/2025
1.80 5.02
FANNIE MAE NOTES 3135G04Z3 200,000.00 WELLS_F 91.74 183,477.00 (17,235.00) (16,817.58) DTD 06/19/2020 0.500% 06/17/2025
1.96 4.97
FANNIE MAE NOTES 3135G04Z3 1,075,000.00 NOMURA 91.74 986,188.87 (93,852.88) (90,917.74) DTD 06/19/2020 0.500% 06/17/2025
1.96 4.97
FANNIE MAE NOTES 3135G04Z3 1,190,000.00 RBS 91.74 1,091,688.15 (105,535.15) (101,500.95) DTD 06/19/2020 0.500% 06/17/2025
1.96 4.97
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Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Federal Agency Bond / Note
FANNIE MAE NOTES 3135G04Z3 3,675,000.00 NOMURA 91.74 3,371,389.88 (296,002.87) (300,619.77) DTD 06/19/2020 0.500% 06/17/2025
1.96 4.97
FANNIE MAE NOTES 3135G04Z3 3,820,000.00 RBS 91.74 3,504,410.70 (331,900.70) (322,404.73) DTD 06/19/2020 0.500% 06/17/2025
1.96 4.97
FREDDIE MAC NOTES 3137EAEU9 2,220,000.00 WELLS_F 91.25 2,025,658.98 (183,285.42) (189,789.07) DTD 07/23/2020 0.375% 07/21/2025
2.05 4.90
FANNIE MAE NOTES 3135G05X7 450,000.00 NOMURA 90.92 409,139.55 (38,340.45) (39,739.50) DTD 08/27/2020 0.375% 08/25/2025
2.14 4.87
FANNIE MAE NOTES 3135G05X7 550,000.00 CITIGRP 90.92 500,059.45 (48,230.05) (49,182.68) DTD 08/27/2020 0.375% 08/25/2025
2.14 4.87
FANNIE MAE NOTES 3135G05X7 2,360,000.00 BARCLAY 90.92 2,145,709.64 (203,245.56) (209,530.92) DTD 08/27/2020 0.375% 08/25/2025
2.14 4.87
FREDDIE MAC NOTES 3137EAEX3 130,000.00 WELLS_F 90.69 117,892.06 (11,937.64) (12,031.64) DTD 09/25/2020 0.375% 09/23/2025
2.22 4.83
FREDDIE MAC NOTES 3137EAEX3 3,400,000.00 CITIGRP 90.69 3,083,330.80 (306,435.20) (312,096.44) DTD 09/25/2020 0.375% 09/23/2025
2.22 4.83
FANNIE MAE NOTES 3135G06G3 2,040,000.00 NOMURA 90.52 1,846,575.36 (192,649.44) (193,056.11) DTD 11/12/2020 0.500% 11/07/2025
2.34 4.81
FANNIE MAE NOTES 3135G06G3 2,215,000.00 BARCLAY 90.52 2,004,982.56 (202,087.74) (206,272.50) DTD 11/12/2020 0.500% 11/07/2025
2.34 4.81
Security Type Sub-Total 43,700,000.00 40,496,974.14 (3,370,785.64) (3,239,428.48) 1.76 5.02 Corporate Note
TOYOTA MOTOR CREDIT CORP CORP 89236TFN0 2,230,000.00 JPM_CHAS 99.50 2,218,854.46 8,679.16 (10,238.31) NOTES
DTD 09/20/2018 3.450% 09/20/2023
0.23 5.67
US BANK NA CINCINNATI CORP NOTES 91159HHV5 2,860,000.00 GOLDMAN 01/05/24 98.52 2,817,580.48 (177,954.92) (58,080.65) (CALLAB
DTD 02/04/2019 3.375% 02/05/2024
0.51 5.93
PFIZER INC CORP NOTES 717081ES8 3,445,000.00 BONY 02/15/24 98.20 3,382,838.42 (103,536.03) (67,490.46) DTD 03/11/2019 2.950% 03/15/2024
0.62 5.58
AMAZON.COM INC CORPORATE NOTES 023135BW5 1,590,000.00 JPM_CHA 95.74 1,522,313.70 (65,364.90) (67,016.99) DTD 05/12/2021 0.450% 05/12/2024
0.87 5.55
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Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
JP MORGAN CHASE BANK CORP NOTE 46625HJX9 1,320,000.00 JPM_CHA 98.23 1,296,653.16 (164,375.64) (57,036.46) DTD 05/13/2014 3.625% 05/13/2024
0.86 5.73
WALMART INC CORPORATE NOTES 931142EL3 4,000,000.00 CITIGRP 06/08/24 97.50 3,900,032.00 (224,808.00) (123,849.83) DTD 04/23/2019 2.850% 07/08/2024
0.92 5.39
JPMORGAN CHASE & CO CORPORATE 46647PBS4 1,405,000.00 JPM_CHA 09/16/23 98.83 1,388,627.54 (16,372.46) (16,372.46)
NOTES (CAL
DTD 09/16/2020 0.653% 09/16/2024
0.21 1.63
PACCAR FINANCIAL CORP CORPORATE 69371RQ66 1,810,000.00 MITSU 94.42 1,708,978.47 (130,035.83) (110,849.50) NOTES
DTD 02/06/2020 1.800% 02/06/2025
1.57 5.49
NOVARTIS CAPITAL CORP 66989HAP3 2,290,000.00 CITIGRP 01/14/25 94.82 2,171,490.21 (206,560.29) (147,516.48) DTD 02/14/2020 1.750% 02/14/2025
1.51 5.11
MASTERCARD INC CORP NOTES 57636QAN4 1,760,000.00 JSEB 02/03/25 95.00 1,671,971.84 (164,253.76) (113,656.49) (CALLABLE)
DTD 12/03/2019 2.000% 03/03/2025
1.56 5.15
AMAZON.COM INC CORPORATE NOTES 023135CE4 3,430,000.00 JPM_CHA 96.39 3,306,345.07 (118,201.23) (120,410.58) DTD 04/13/2022 3.000% 04/13/2025
1.74 5.14
JPMORGAN CHASE & CO (CALLABLE) CORP 46647PCH7 865,000.00 JPM_CHA 06/01/24 95.03 821,967.98 (43,032.02) (43,032.02) NOTE
DTD 06/01/2021 0.824% 06/01/2025
0.92 3.53
BRISTOL-MYERS SQUIBB CO CORPORATE 110122DN5 2,230,000.00 MERRILL 10/13/25 90.70 2,022,654.60 (188,234.30) (197,014.43) NOTES
DTD 11/13/2020 0.750% 11/13/2025
2.27 4.96
BANK OF NY MELLON CORP (CALLABLE) 06406RAQ0 3,465,000.00 US_BANC 12/28/25 88.84 3,078,167.40 (387,664.20) (387,256.31) CORPOR
DTD 01/28/2021 0.750% 01/28/2026
2.47 5.45
BANK OF AMERICA CORP NOTES 06051GKM0 2,025,000.00 MERRILL 04/02/25 95.83 1,940,468.40 (84,531.60) (84,531.60) (CALLABLE)
DTD 03/22/2022 3.384% 04/02/2026
1.71 5.02
MICROSOFT CORP (CALLABLE) NOTES 594918BR4 3,000,000.00 TD 05/08/26 93.87 2,816,202.00 (216,948.00) (206,330.49) DTD 08/08/2016 2.400% 08/08/2026
2.75 4.54
MASTERCARD INC CORP NOTES 57636QAG9 2,560,000.00 CSFB 08/21/26 94.30 2,414,115.84 (19,983.36) (36,799.48) (CALLABLE)
DTD 11/21/2016 2.950% 11/21/2026
3.01 4.79
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Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
TARGET CORP CORP NOTES (CALLABLE) 87612EBM7 365,000.00 CITIGRP 12/15/26 91.50 333,984.49 (30,395.01) (30,573.61) DTD 01/24/2022 1.950% 01/15/2027
3.32 4.58
MICROSOFT CORP CORP NOTES 594918BY9 3,000,000.00 GOLDMAN 11/06/26 96.18 2,885,340.00 (28,830.00) (40,005.49) (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
3.15 4.46
HOME DEPOT INC CORP NOTES 437076BT8 3,610,000.00 TD 06/14/27 92.99 3,356,899.29 (48,774.71) (67,173.73) (CALLABLE)
DTD 09/14/2017 2.800% 09/14/2027
3.73 4.65
WALMART INC CORPORATE NOTES 931142FB4 1,220,000.00 BARCLAY 03/15/28 97.51 1,189,581.74 (27,697.66) (27,764.39) (CALLABLE)
DTD 04/18/2023 3.900% 04/15/2028
4.38 4.48
APPLE INC CORP NOTES CALLABLE 037833ET3 5,200,000.00 HSBC 04/10/28 98.31 5,112,359.20 (104,020.80) (103,617.94) DTD 05/10/2023 4.000% 05/10/2028
4.37 4.39
Security Type Sub-Total 53,680,000.00 51,357,426.29 (2,542,895.56) (2,116,617.70) 2.07 4.97 Commercial Paper
NATIXIS NY BRANCH COMM PAPER 63873KU39 10,365,000.00 RBC 99.96 10,360,522.32 253,723.11 (1,592.75) DTD 01/03/2023 0.000% 07/03/2023
0.01 5.19
ING (US) FUNDING LLC COMM PAPER 45685RV46 10,290,000.00 MERRILL 99.49 10,237,726.80 240,705.97 (3,681.53) DTD 01/05/2023 0.000% 08/04/2023
0.10 5.25
LMA AMERICAS LLC COMM PAPER 53944RW79 10,450,000.00 MERRILL 98.95 10,339,951.05 74,701.24 (6,222.40) DTD 05/05/2023 0.000% 09/07/2023
0.20 5.55
Security Type Sub-Total 31,105,000.00 30,938,200.17 569,130.32 (11,496.68) 0.10 5.33 Certificate of Deposit
TORONTO DOMINION BANK NY CERT 89115B6F2 3,355,000.00 TD 99.94 3,352,836.03 (2,163.97) (2,163.97) DEPOS
DTD 10/31/2022 5.470% 10/25/2024
1.27 5.45
Security Type Sub-Total 3,355,000.00 3,352,836.03 (2,163.97) (2,163.97) 1.27 5.45 Asset-Backed Security
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Managed Account Fair Market Value & Analytics For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Asset-Backed Security
HAROT 2020-1 A3 43813RAC1 12,676.90 JPM_CHAS 99.83 12,655.82 (18.59) (20.59) DTD 02/26/2020 1.610% 04/22/2024
0.07 1.82
CARMX 2020-1 A3 14315XAC2 89,000.06 MERRILL 99.54 88,587.51 (395.09) (407.34) DTD 01/22/2020 1.890% 12/16/2024
0.15 2.21
HAROT 2021-1 A3 43813GAC5 262,808.91 JPM_CHA 97.62 256,552.77 (6,251.32) (6,254.04) DTD 02/24/2021 0.270% 04/21/2025
0.43 1.61
HART 2021-A A3 44933LAC7 301,864.41 BARCLAY 97.44 294,149.18 (7,683.48) (7,699.23) DTD 04/28/2021 0.380% 09/15/2025
0.50 1.56
CARMX 2021-1 A3 14316NAC3 189,425.84 MITSU 97.11 183,943.55 (5,444.86) (5,463.44) DTD 01/27/2021 0.340% 12/15/2025
0.55 1.54
TAOT 2021-C A3 89239BAC5 895,288.63 BARCLAY 96.33 862,393.49 (32,823.78) (32,852.94) DTD 09/27/2021 0.430% 01/15/2026
0.70 1.91
CARMX 2021-2 A3 14314QAC8 509,246.33 MERRILL 96.48 491,337.00 (17,799.59) (17,849.45) DTD 04/21/2021 0.520% 02/17/2026
0.62 1.89
HART 2021-C A3 44935FAD6 465,000.00 SMBC 96.12 446,939.77 (17,956.44) (17,993.84) DTD 11/17/2021 0.740% 05/15/2026
0.81 2.13
DCENT 2021-A1 A1 254683CP8 775,000.00 CITIGRP 94.10 729,278.80 (45,555.27) (45,613.99) DTD 09/27/2021 0.580% 09/15/2026
1.18 2.50
Security Type Sub-Total 3,500,311.08 3,365,837.89 (133,928.42) (134,154.86) 0.74 2.00 Managed Account Sub-Total 408,843,812.81 383,603,749.44 (15,624,590.60) (17,937,165.01) 2.16 4.82 Total Investments $384,958,658.05
$1,354,908.61
$383,603,749.44
Accrued Interest
Securities Sub-Total $408,843,812.81 ($15,624,590.60) ($17,937,165.01) 2.16 4.82% CITY OF MODESTO - COMBINED PORTFOLIO Page 26
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Managed Account Security Transactions & Interest For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
BUY
06/05/23 US TREASURY N/B NOTES
DTD 12/31/2022 3.875% 12/31/2027
06/01/23 91282CGC9 4,250,000.00 (4,266,933.59) (70,970.30) (4,337,903.89) Transaction Type Sub-Total 4,250,000.00 (4,266,933.59) (70,970.30) (4,337,903.89)
INTEREST
06/01/23 CA ST DEPT WTR RES WTR SYS TXBL
REV BNDS
DTD 08/06/2020 0.560% 12/01/2024
06/01/23 13067WRB0 100,000.00 0.00 280.00 280.00
06/01/23 06/01/23 MONEY MARKET FUND MONEY0002 0.00 0.00 1,144.53 1,144.53 06/01/23 JPMORGAN CHASE & CO (CALLABLE)
CORP NOTE
DTD 06/01/2021 0.824% 06/01/2025
06/01/23 46647PCH7 865,000.00 0.00 3,563.80 3,563.80
06/25/23 FANNIEMAE-ACES
DTD 04/01/2014 3.346% 03/01/2024
06/01/23 3136AJB54 681,564.83 0.00 1,900.43 1,900.43
06/25/23 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
06/01/23 3137BTUM1 2,475,000.00 0.00 6,903.19 6,903.19
06/04/23 FREDDIE MAC NOTES
DTD 12/04/2020 0.250% 12/04/2023
06/04/23 3137EAFA2 2,015,000.00 0.00 2,518.75 2,518.75
06/08/23 FEDERAL HOME LOAN BANKS NOTES
DTD 12/09/2013 3.375% 12/08/2023
06/08/23 3130A0F70 2,025,000.00 0.00 34,171.88 34,171.88 06/15/23 US TREASURY NOTES
DTD 12/15/2020 0.125% 12/15/2023
06/15/23 91282CBA8 4,430,000.00 0.00 2,768.75 2,768.75
06/15/23 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
06/15/23 44935FAD6 465,000.00 0.00 286.75 286.75
06/15/23 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
06/15/23 14316NAC3 205,462.04 0.00 58.21 58.21
06/15/23 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
06/15/23 89239BAC5 956,011.65 0.00 342.57 342.57
06/15/23 US TREASURY N/B NOTES
DTD 12/15/2021 1.000% 12/15/2024
06/15/23 91282CDN8 4,445,000.00 0.00 22,225.00 22,225.00 06/15/23 US TREASURY N/B NOTES
DTD 06/15/2021 0.250% 06/15/2024
06/15/23 91282CCG4 4,485,000.00 0.00 5,606.25 5,606.25
06/15/23 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
06/15/23 254683CP8 775,000.00 0.00 374.58 374.58
CITY OF MODESTO - COMBINED PORTFOLIO Page 27
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Managed Account Security Transactions & Interest For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
INTEREST
06/15/23 TAOT 2020-A A3
DTD 02/12/2020 1.660% 05/15/2024
06/15/23 89232HAC9 5,576.75 0.00 7.71 7.71
06/15/23 CARMX 2020-1 A3
DTD 01/22/2020 1.890% 12/16/2024
06/15/23 14315XAC2 117,722.41 0.00 185.41 185.41
06/15/23 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
06/15/23 44933LAC7 330,112.52 0.00 104.54 104.54
06/15/23 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
06/15/23 14314QAC8 546,934.62 0.00 237.01 237.01
06/17/23 FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
06/17/23 3135G04Z3 9,960,000.00 0.00 24,900.00 24,900.00 06/21/23 HAROT 2020-1 A3
DTD 02/26/2020 1.610% 04/22/2024
06/21/23 43813RAC1 55,501.45 0.00 74.46 74.46
06/21/23 HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
06/21/23 43813GAC5 293,859.14 0.00 66.12 66.12
06/30/23 US TREASURY NOTES
DTD 12/31/2018 2.625% 12/31/2023
06/30/23 9128285U0 270,000.00 0.00 3,543.75 3,543.75
06/30/23 US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
06/30/23 91282CBC4 5,275,000.00 0.00 9,890.63 9,890.63
06/30/23 US TREASURY NOTES
DTD 06/30/2020 0.500% 06/30/2027
06/30/23 912828ZV5 5,545,000.00 0.00 13,862.50 13,862.50 06/30/23 US TREASURY NOTES
DTD 07/02/2018 2.750% 06/30/2025
06/30/23 912828XZ8 4,230,000.00 0.00 58,162.50 58,162.50 06/30/23 US TREASURY N/B NOTES
DTD 12/31/2022 3.875% 12/31/2027
06/30/23 91282CGC9 4,250,000.00 0.00 82,343.75 82,343.75 Transaction Type Sub-Total 54,802,745.41 0.00 275,523.07 275,523.07
PAYDOWNS
06/25/23 FANNIEMAE-ACES
DTD 04/01/2014 3.346% 03/01/2024
06/01/23 3136AJB54 224,063.10 224,063.10 0.00 224,063.10 (10,888.07) 0.00 06/15/23 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
06/15/23 89239BAC5 60,723.02 60,723.02 0.00 60,723.02 4.84 0.00 06/15/23 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
06/15/23 44933LAC7 28,248.11 28,248.11 0.00 28,248.11 2.97 0.00 CITY OF MODESTO - COMBINED PORTFOLIO Page 28
#9..
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Managed Account Security Transactions & Interest For the Month Ending June 30, 2023 CITY OF MODESTO - Combined Portfolio
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
PAYDOWNS
06/15/23 TAOT 2020-A A3
DTD 02/12/2020 1.660% 05/15/2024
06/15/23 89232HAC9 5,576.75 5,576.75 0.00 5,576.75 0.40 0.00 06/15/23 CARMX 2020-1 A3
DTD 01/22/2020 1.890% 12/16/2024
06/15/23 14315XAC2 28,722.35 28,722.35 0.00 28,722.35 5.64 0.00 06/15/23 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
06/15/23 14316NAC3 16,036.20 16,036.20 0.00 16,036.20 3.17 0.00 06/15/23 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
06/15/23 14314QAC8 37,688.29 37,688.29 0.00 37,688.29 8.12 0.00 06/21/23 HAROT 2020-1 A3
DTD 02/26/2020 1.610% 04/22/2024
06/21/23 43813RAC1 42,824.55 42,824.55 0.00 42,824.55 8.39 0.00 06/21/23 HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
06/21/23 43813GAC5 31,050.23 31,050.23 0.00 31,050.23 0.57 0.00 Transaction Type Sub-Total 474,932.60 474,932.60 0.00 474,932.60 (10,853.97) 0.00 SELL
06/05/23 US TREASURY NOTES
DTD 11/15/2020 0.250% 11/15/2023
06/01/23 91282CAW1 3,910,000.00 3,824,010.55 557.81 3,824,568.36 (85,378.51) (85,882.26) FIFO Transaction Type Sub-Total 3,910,000.00 3,824,010.55 557.81 3,824,568.36 (85,378.51) (85,882.26) Managed Account Sub-Total 32,009.56 205,110.58 237,120.14 (96,232.48) (85,882.26) Total Security Transactions $32,009.56 $205,110.58 $237,120.14 ($96,232.48) ($85,882.26) CITY OF MODESTO - COMBINED PORTFOLIO Page 29
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Attachment 3
City of Modesto Combined Yields
Month
Ending
Combined
Yield
CAMP
Balance
CAMP Monthly
Distribution Yields
Long Term
Amortized Cost
Balance
Long Term
Portfolio Yield
Short Term
Amortized Cost
Balance
Short Term
Portfolio Yield
7/31/2021 1.02% 108,729,978.62 0.05% 273,119,224.63 1.40% 8/31/2021 1.01% 108,734,764.86 0.05% 272,424,046.82 1.39% 9/30/2021 0.97% 108,739,293.68 0.05% 275,543,849.60 1.33% 10/31/2021 0.91% 123,744,124.02 0.05% 274,089,339.67 1.30% 11/30/2021 0.90% 123,749,269.51 0.05% 275,079,950.15 1.28% 12/31/2021 0.91% 123,754,558.86 0.05% 274,968,424.92 1.29% 1/31/2022 0.92% 123,759,932.29 0.05% 276,103,753.02 1.31% 2/28/2022 0.92% 106,765,158.19 0.06% 276,530,404.21 1.31% 39,948,433.34 0.53% 3/31/2022 0.98% 106,788,084.24 0.25% 277,035,730.56 1.33% 39,948,380.00 0.53% 4/30/2022 1.39% 30,016,017.61 0.50% 353,203,903.46 1.56% 39,984,016.67 0.53% 5/31/2022 1.47% 50,044,305.28 0.82% 353,781,386.85 1.59% 39,880,961.12 1.26% 6/30/2022 1.56% 75,106,114.53 1.14% 354,423,884.74 1.64% 39,871,394.45 1.66% 7/31/2022 1.66% 46,186,072.35 1.64% 354,553,148.20 1.66% 39,928,141.66 1.66% 8/31/2022 1.79% 46,276,184.59 2.30% 356,564,454.56 1.69% 39,858,625.00 2.14% 9/30/2022 1.95% 46,375,593.86 2.61% 356,228,719.05 1.71% 39,880,797.64 3.34% 10/31/2022 2.03% 46,499,174.80 3.14% 357,511,536.00 1.74% 39,981,172.30 3.34% 11/30/2022 2.18% 46,648,406.54 3.90% 357,994,150.30 1.78% 40,170,337.16 3.76% 12/31/2022 2.29% 46,818,929.81 4.30% 357,777,379.76 1.84% 40,298,306.29 3.93% 1/31/2023 2.48% 46,999,023.63 4.53% 358,294,563.63 1.95% 40,452,260.96 4.84% 2/28/2023 2.51% 47,169,689.38 4.73% 358,174,068.29 1.94% 40,550,744.43 4.97% 3/31/2023 2.57% 47,361,889.08 4.80% 359,784,568.86 2.01% 40,708,200.79 4.97% 4/30/2023 2.58% 47,555,527.53 4.97% 357,043,234.53 1.99% 40,860,577.92 4.97% 5/31/2023 2.71% 47,763,982.55 5.16% 360,186,419.97 2.10% 41,114,697.00 5.21% 6/30/2023 2.75% 47,969,832.62 5.24% 360,251,679.25 2.14% 41,289,235.20 5.21% Notes:
1. Long and Short Term Portfolio AC Balance is the amortized cost value of the separately managed portfolios.
2. Long and Short Term Portfolio Yields are the separately managed portfolios yield at costs. #9..
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Attachment 4
City of Modesto - Portfolio Holdings and Earnings Projections Issuer Par Maturity Date Current Yield
Years to
Maturity
Expected Earnings
Rate to June 30, 2024
Expected Earnings to
June 30, 2024
Main Portfolio
Federal Agency
FNMA 900,000 11/27/2023 5.310% 0 726 2.53% 22,810
FHLMC 2,015,000 12/4/2023 5.410% 0 2,454 2.48% 50,191
FHLB 2,025,000 12/8/2023 5.470% 0 24,317 3.51% 71,319
FNMA 3,500,000 1/7/2025 5.210% 2 45,456 0.85% 29,869
FHLMC 640,000 2/12/2025 5.150% 2 12,320 1.18% 7,604
FHLB 2,370,000 4/14/2025 5.020% 2 25,520 0.60% 14,282
FNMA 3,195,000 4/22/2025 5.020% 2 38,651 0.67% 21,369
FNMA 475,000 4/22/2025 5.020% 2 5,114 0.59% 2,827
FNMA 3,345,000 4/22/2025 5.020% 2 36,998 0.61% 20,455
FNMA 1,910,000 4/22/2025 5.020% 2 17,966 0.52% 9,933
FNMA 1,190,000 6/17/2025 4.970% 2 8,483 0.36% 4,324
FNMA 3,820,000 6/17/2025 4.970% 2 30,672 0.41% 15,635
FNMA 1,075,000 6/17/2025 4.970% 2 8,441 0.40% 4,303
FNMA 200,000 6/17/2025 4.970% 2 1,669 0.42% 851
FNMA 3,675,000 6/17/2025 4.970% 2 39,187 0.54% 19,976
FHLMC 2,220,000 7/21/2025 4.900% 2 21,772 0.48% 10,597
FNMA 450,000 8/25/2025 4.870% 2 4,776 0.49% 2,221
FNMA 550,000 8/25/2025 4.870% 2 5,215 0.44% 2,425
FNMA 2,360,000 8/25/2025 4.870% 2 23,912 0.47% 11,120
FHLMC 3,400,000 9/23/2025 4.830% 2 33,140 0.44% 14,864
FHLMC 130,000 9/23/2025 4.830% 2 1,167 0.40% 523
FNMA 2,215,000 11/7/2025 4.810% 2 29,936 0.57% 12,725
FNMA 2,040,000 11/7/2025 4.810% 2 24,435 0.51% 10,387
Federal Agency CMBS
FNMA 457,502 3/1/2024 5.680% 1 6,560 2.76% 12,663
FHLMC 2,475,000 11/1/2026 4.810% 3 356,748 4.31% 107,024 U.S. Treasury
U.S. Treasury 10,490,000 10/15/2023 5.170% 0 159,425 4.49% 472,337 U.S. Treasury 3,275,000 11/30/2023 5.360% 0 34,538 3.46% 113,697 U.S. Treasury 4,430,000 12/15/2023 5.210% 0 49,099 3.34% 148,204 U.S. Treasury 270,000 12/31/2023 5.320% 1 3,484 3.33% 9,006 U.S. Treasury 1,564,000 2/29/2024 5.460% 1 3,608 1.57% 24,648 U.S. Treasury 457,000 2/29/2024 5.460% 1 1,022 1.56% 7,170 U.S. Treasury 4,450,000 3/15/2024 5.410% 1 78,481 2.93% 130,780 U.S. Treasury 4,890,000 4/15/2024 5.460% 1 13,589 1.10% 54,027 U.S. Treasury 4,485,000 6/15/2024 5.450% 1 111,769 2.65% 118,994 U.S. Treasury 2,450,000 7/31/2024 5.410% 1 47,659 1.79% 43,937 U.S. Treasury 1,630,000 8/31/2024 5.380% 1 25,542 1.34% 21,842 U.S. Treasury 4,505,000 9/15/2024 5.350% 1 144,987 2.65% 119,786 U.S. Treasury 1,850,000 9/30/2024 5.340% 1 34,853 1.50% 27,852 U.S. Treasury 460,000 10/31/2024 5.320% 1 9,649 1.57% 7,222 U.S. Treasury 1,215,000 11/30/2024 5.260% 1 29,262 1.69% 20,636 U.S. Treasury 3,450,000 11/30/2024 5.260% 1 79,995 1.63% 56,413 U.S. Treasury 4,585,000 11/30/2024 5.260% 1 32,824 0.50% 23,148 U.S. Treasury 4,445,000 12/15/2024 5.250% 1 174,579 2.68% 119,655 U.S. Treasury 4,400,000 2/15/2025 5.140% 2 194,290 2.70% 119,312 U.S. Treasury 4,945,000 4/30/2025 4.990% 2 57,416 0.63% 31,364 U.S. Treasury 4,230,000 6/30/2025 4.920% 2 231,505 2.73% 115,911 U.S. Treasury 4,340,000 8/31/2025 4.810% 2 49,781 0.53% 22,976 U.S. Treasury 4,635,000 8/31/2025 4.810% 2 276,027 2.74% 127,397 U.S. Treasury 4,550,000 9/30/2025 4.720% 2 68,771 0.67% 30,583 U.S. Treasury 1,100,000 9/30/2025 4.720% 2 19,943 0.80% 8,869 U.S. Treasury 6,930,000 10/31/2025 4.710% 2 126,433 0.78% 54,186 U.S. Treasury 5,010,000 10/31/2025 4.710% 2 90,610 0.77% 38,833 U.S. Treasury 4,250,000 11/30/2025 4.690% 2 109,637 1.07% 45,393 U.S. Treasury 4,635,000 11/30/2025 4.690% 2 309,111 2.75% 127,981 U.S. Treasury 1,040,000 12/31/2025 4.590% 3 11,827 0.45% 4,731 U.S. Treasury 500,000 12/31/2025 4.590% 3 5,418 0.43% 2,167 U.S. Treasury 3,735,000 12/31/2025 4.590% 3 83,122 0.89% 33,249 U.S. Treasury 2,400,000 1/31/2026 4.620% 3 50,042 0.80% 19,361 U.S. Treasury 5,775,000 1/31/2026 4.620% 3 190,450 1.27% 73,684 U.S. Treasury 5,000,000 1/31/2026 4.620% 3 240,282 1.85% 92,963 U.S. Treasury 7,980,000 1/31/2026 4.620% 3 610,121 2.95% 236,051 U.S. Treasury 3,210,000 2/28/2026 4.600% 3 60,160 0.70% 22,606 U.S. Treasury 6,000,000 2/28/2026 4.590% 3 184,892 1.15% 69,477 U.S. Treasury 4,645,000 2/28/2026 4.590% 3 341,868 2.76% 128,464 U.S. Treasury 4,925,000 3/31/2026 4.510% 3 117,910 0.87% 42,940 U.S. Treasury 2,480,000 3/31/2026 4.510% 3 51,809 0.76% 18,868 U.S. Treasury 1,405,000 5/31/2026 4.520% 3 35,632 0.87% 12,234 U.S. Treasury 4,615,000 5/31/2026 4.520% 3 372,140 2.76% 127,770 U.S. Treasury 4,800,000 5/31/2026 4.520% 3 419,496 2.99% 144,029 U.S. Treasury 4,640,000 8/31/2026 4.450% 3 404,843 2.75% 127,955 U.S. Treasury 4,310,000 9/30/2026 4.390% 3 388,290 2.77% 119,625 U.S. Treasury 4,545,000 11/15/2026 4.420% 3 462,339 3.01% 137,128 U.S. Treasury 9,220,000 2/15/2027 4.360% 4 955,475 2.85% 263,728 U.S. Treasury 910,000 3/31/2027 4.330% 4 137,805 4.03% 36,815 U.S. Treasury 6,480,000 4/30/2027 4.320% 4 725,274 2.92% 189,607 U.S. Treasury 5,545,000 6/30/2027 4.290% 4 664,194 2.99% 166,389 U.S. Treasury 1,200,000 8/15/2027 4.270% 4 163,674 3.30% 39,751 U.S. Treasury 2,985,000 8/15/2027 4.270% 4 419,058 3.40% 101,775 U.S. Treasury 5,380,000 9/30/2027 4.270% 4 978,131 4.27% 230,519 U.S. Treasury 2,715,000 10/31/2027 4.260% 4 448,929 3.81% 103,730 U.S. Treasury 3,160,000 10/31/2027 4.260% 4 497,567 3.63% 114,968 U.S. Treasury 8,775,000 10/31/2027 4.240% 4 1,489,423 3.91% 344,147 U.S. Treasury 4,250,000 12/31/2027 4.210% 5 723,779 3.78% 161,035 U.S. Treasury 3,450,000 1/31/2028 4.190% 5 580,131 3.66% 126,687 U.S. Treasury 2,220,000 1/31/2028 4.200% 5 358,546 3.52% 78,298 U.S. Treasury 2,825,000 2/29/2028 4.170% 5 560,748 4.25% 120,372 U.S. Treasury 2,970,000 2/29/2028 4.170% 5 595,775 4.29% 127,891 U.S. Treasury 2,555,000 3/31/2028 4.180% 5 424,288 3.49% 89,453 U.S. Treasury 2,675,000 3/31/2028 4.170% 5 464,140 3.65% 97,854 U.S. Treasury 3,320,000 4/30/2028 4.150% 5 578,675 3.60% 119,929 U.S. Treasury 6,530,000 4/30/2028 4.150% 5 1,074,074 3.40% 222,600 6/30/2023
Earnings to
Maturity
#9..
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Attachment 4
City of Modesto - Portfolio Holdings and Earnings Projections Issuer Par Maturity Date Current Yield
Years to
Maturity
Expected Earnings
Rate to June 30, 2024
Expected Earnings to
June 30, 2024
6/30/2023
Earnings to
Maturity
Commercial Paper
Natixis NY Branch 10,365,000 7/3/2023 5.190% 0 4,377 4.34% 451,222 ING Funding LLC 10,290,000 8/4/2023 5.250% 0 50,781 4.38% 451,798 LMA Americas LLC 10,450,000 9/7/2023 5.550% 0 105,780 4.46% 467,435 Negotiable CD
Toronto-Dominion Bank 3,355,000 10/25/2024 5.450% 1 241,524 5.44% 183,018 Corporate Note
Toyota Motor Corp 2,230,000 9/20/2023 5.670% 0 18,291 4.11% 91,796 US Bancorp 2,860,000 2/5/2024 5.930% 1 39,112 2.98% 85,513 Pfizer Inc 3,445,000 3/15/2024 5.580% 1 65,729 3.07% 106,217 Amazon.Com Inc 1,590,000 5/12/2024 5.550% 1 6,892 0.96% 15,307 JPMorgan Chase & Co 1,320,000 5/13/2024 5.730% 1 7,442 1.08% 14,284 Wal-Mart Stores Inc 4,000,000 7/8/2024 5.390% 1 89,605 2.19% 87,689 JPMorgan Chase & Co 1,405,000 9/16/2024 1.630% 1 11,160 0.65% 9,200 Paccar Financial Corp 1,810,000 2/6/2025 5.490% 2 42,149 1.45% 26,281 Novartis Capital Corp 2,290,000 2/14/2025 5.110% 2 34,423 0.92% 21,174 Mastercard Inc 1,760,000 3/3/2025 5.150% 2 31,763 1.08% 18,995 Amazon.Com Inc 3,430,000 4/13/2025 5.140% 2 187,521 3.06% 105,104 JPMorgan Chase & Co 865,000 6/1/2025 3.530% 2 13,708 0.82% 7,147 Bristol-Myers Squibb Co 2,230,000 11/13/2025 4.960% 2 50,324 0.95% 21,244 The Bank Of New York Mellon Corporation 3,465,000 1/28/2026 5.450% 3 66,700 0.75% 25,888 Bank Of America Co 2,025,000 4/2/2026 5.020% 3 189,044 3.38% 68,709 Microsoft Corp 3,000,000 8/8/2026 4.540% 3 199,485 2.14% 64,327 Mastercard Inc 2,560,000 11/21/2026 4.790% 3 376,483 4.33% 111,123 Target Corp 365,000 1/15/2027 4.580% 4 25,720 1.99% 7,269 Microsoft Corp 3,000,000 2/6/2027 4.460% 4 439,156 4.06% 122,043 Home Depot Inc 3,610,000 9/14/2027 4.650% 4 632,075 4.16% 150,514 Wal-Mart Stores Inc 1,220,000 4/15/2028 4.480% 5 231,174 3.95% 48,321 Apple Inc 5,200,000 5/10/2028 4.390% 5 994,246 3.93% 204,895 Asset-Backed Securities
Honda Auto Receivables 12,677 4/22/2024 1.820% 1 167 2.06% 262 Carmax Auto Owner Trust 89,000 12/16/2024 2.210% 1 2,471 1.89% 1,690 Honda Auto Receivables 262,809 4/21/2025 1.610% 2 1,287 0.27% 713 Hyundai Auto Receivables 301,864 9/15/2025 1.560% 2 2,555 0.38% 1,158 Carmax Auto Owner Trust 189,426 12/15/2025 1.540% 2 1,605 0.34% 654 Toyota Motor Corp 895,289 1/15/2026 1.910% 3 9,852 0.43% 3,877 Carmax Auto Owner Trust 509,246 2/17/2026 1.890% 3 7,046 0.52% 2,678 Hyundai Auto Receivables 465,000 5/15/2026 2.130% 3 9,966 0.75% 3,474 Discover Card Execution Note Trust 775,000 9/15/2026 2.500% 3 14,555 0.58% 4,541 Municipal Securities
California St 2,310,000 10/1/2023 5.440% 0 11,009 3.62% 83,939 Maryland St 620,000 8/1/2024 5.440% 1 3,496 0.52% 3,215 California State University 600,000 11/1/2024 5.590% 1 5,517 0.68% 4,121 State Of California 100,000 12/1/2024 5.360% 1 798 0.56% 562 University Of California 510,000 5/15/2025 4.750% 2 8,452 0.88% 4,516 University Of California 220,000 5/15/2025 4.750% 2 3,330 0.81% 1,779 Florida State Board of Administration Finance 1,295,000 7/1/2025 5.170% 2 32,674 1.26% 16,337 Florida State Board of Administration Finance 505,000 7/1/2025 5.170% 2 11,203 1.11% 5,602 Los Angeles Community College District 925,000 8/1/2025 4.950% 2 14,948 0.77% 7,170 New Jersey Turnpike Authority 505,000 1/1/2026 4.740% 3 13,270 1.05% 5,302 Supranational Securities
Intl Bank Of Reconstruction And Dev 1,790,000 11/24/2023 5.360% 0 2,322 2.61% 46,901 Inter-American Development Bank 4,095,000 9/23/2024 5.400% 1 26,559 0.52% 21,553 Overnight Investments 47,969,833 Varies Varies 5.07% 2,440,403 Totals (Main Portfolio) 456,813,645 23,581,598 2.73% 12,498,266 Notes:
1. Earnings projections are based on stated par value, future market expectations and current investment positions.
2. Earnings on overnight investments are based on the investment balances and the Fed Funds Futures rates.
3. Callable securities priced above par are considered to be called on their next call date. #9..
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Attachment 5
Issue Name / Type Trustee Bank Investment Total Amount Fair Market Value Difference
1993 Community Center Refinancing U.S. Bank First American Treasury Obligation Fund $1,699,498.17 $1,699,498.17 $0.00 1993 Golf Course Refinancing U.S. Bank First American Treasury Obligation Fund $506,709.28 $506,709.28 $0.00 Instl Res Tre and Agny Cash Adv6541 $253,321.38 $253,321.38 $0.00 Financial Guaranty Insurance Pol $1.00 $1.00 $0.00
CAMP $2,004,289.51 $2,004,289.51 $0.00
Total $2,257,611.89 $2,257,611.89 $0.00
Instl Res Tre and Agny Cash Adv6541 $252,139.92 $252,139.92 $0.00 CAMP $4,958,387.62 $4,958,387.62 $0.00
Total $5,210,527.54 $5,210,527.54 $0.00
2018 Wastewater Refunding Bank of New York Fidelity Inv MM Trsy Only $697.89 $697.89 $0.00 Fairview Village Refunding US Bank First American Government $198,752.07 $198,752.07 $0.00 Blackrock Federal Fund Instl 30 $536,307.30 $536,307.30 $0.00 CAMP $2,838,811.47 $2,838,963.79 $152.32
Total $3,375,118.77 $3,375,271.09 $152.32
Other Post Employment Benefits Section 115
Trust PARS HighMark Plus Moderate $1,481,519.05 $1,481,519.05 $0.00 Pension Section 115 Trust PARS HighMark Plus Moderately Conservative $2,617,046.41 $2,617,046.41 $0.00 Athens Administrators (New Third Party
Administrator - Worker's Compensation) Wells Fargo Bank Business Checking Account $699,542.55 $699,542.55 $0.00 George Hills Company - General Liability Claims
Administration Services California Bank & Trust Business Checking Account $51,268.53 $51,268.53 $0.00 Kemper Sports Management Inc. BMO Harris Bank Business Money Market $44,368.58 $44,368.58 $0.00 Stanislaus Community Foundation Modesto Commerce Bank Charles Schwab $733,784.48 $733,784.48 $0.00 California Bank of
Commerce $3,428,519.97 $3,428,519.97 $0.00
Columbia Bank $441,033.76 $441,033.76 $0.00
Banner Bank $19,282.55 $19,282.55 $0.00
Umpqua Bank $32,128.57 $32,128.57 $0.00
Village One #2 Refunding Bank of New York
Third-Party Construction Contract Retention
Cash with Fiscal Agent Investments
As of June 30, 2023
2008 Water Refunding COP Bank of New York
2008 Lease Revenue Bonds Bank of New York
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UPDATE ON PORTFOLIO,
STRATEGY, AND MARKET
CONDITIONS
Finance Committee, August 21, 2023
DeAnna Christensen, Director of Finance
Monique Spyke, PFM Asset Management LLC
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Current Market Themes
1 ➢ The U.S. economy is characterized by:
▹ Falling inflation rate
▹ Strong labor market
▹ Optimistic consumer
➢ Federal Reserve is aggressively fighting
inflation:
▹ Fed has increased rates by 5.25% since
March 2022
▹ Fed funds rate at 5.25%-5.50%
▹ Forecasting a “higher-for-longer” outlook
➢ Interest rates are near their highest
levels in 15 years
▹ Inverted yield curve
▹ Higher yields present great
opportunities for City’s future
earnings
▹ Increase in rates has negatively
impacted market values
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3.8%
4.6%
0%
1%
2%
3%
4%
5%
6%
7%
8%
The Fed’s Key Inflation Rate
Personal Consumption Expenditure Price Index,
Year-over-year
PCE Core PCE
Inflation Trending Lower but Work Remains
Source: Federal Reserve, as of 7/31/2023. Federal Reserve, Bloomberg, Bureau of Economic Analysis as of May 2023. 2 0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23
Federal Funds Target Rate (Upper Limit)
Fed’s long-term target
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U.S. Treasury Yield Curve
FYE
6/30/23
FYE
6/30/22
Change
YoY
3-month 5.43% 1.63% 3.80%
6-month 5.47% 2.51% +2.96%
1-year 5.40% 2.74% 2.66%
2-year 4.87% 2.95% 1.92%
3-year 4.49% 3.01% 1.48%
5-year 4.13% 3.04% 1.09%
Source: Bloomberg as of 6/30/2023.
3 0%
1%
2%
3%
4%
5%
6%
3M6M 1Y 2Y 3Y 5Y
June 30, 2022 June 30, 2023
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2-Year U.S. Treasury
Source: Bloomberg as of 6/30/2023.
4 0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
2-Year U.S. Treasury Yield
10-Year Average: 1.38%
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5 Program Goals and Objectives
Investment criteria per the City of Modesto Investment Policy.
Safety of
Principal Criteria:
Achieved
Through:
Liquidity Return on
Investment
o High quality
investments
o Diversification
o Management of
credit and
market risk
o Cash flow
coordination
o Allocation to
overnight funds
o High quality
investments
o Duration
management
o Continual
evaluation of
relative value
o Active trading
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● Income generation potential on the City’s portfolio increased ○ Investment income of $8.9 million1
● Conservative duration approach benefited portfolio in rising rate environment ○ Outperformed benchmark by +41 basis points on a net basis2 ● Maintained diversified portfolio
● Remained in compliance with City’s investment policy
● Kept city staff informed of events impacting investment program 6 Fiscal Year 2023 Accomplishments
1. As of June 30, 2023. Aggregate fiscal year income on an accrual (amortized cost) basis.
2. City of Modesto one-year total return versus the performance benchmark which was the ICE BofAML 1-3 Year U.S. Treasury Index through December 31, 2018, and is now the ICE BofAML 1-5 Year U.S. Treasury Index.
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7 1. Market values exclude accrued interest and case in the money market fund.
Portfolio Characteristics as of June 30, 2023
Market
Value1 Yield Average Maturity
Total Portfolio $431,573,582 2.78% 2.02 years
Long-Term Portfolio $342,327,981 2.14% 2.52 years
Short-Term Portfolio $41,275,768 5.21% 54 days
CAMP Pool $47,969,833 5.24% 1 day
● Portfolio segmentation allows for optimal investment
● Portfolio is in compliance with the City’s Investment Policy 11%
20%
19%
26%
9%
15%
$0
$20
$40
$60
$80
$100
$120
Millions
Maturity Distribution
Long-Term Short-Term CAMP
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8 Portfolio Characteristics as of June 30, 2023
● Portfolio is diversified by issuer and in compliance with the City’s investment policy ● Portfolio is of high credit quality; average rating of AA1 U.S. Treasury
55%
Federal
Agency
9%
Agency MBS
1%
Supra-National
1%
Municipal
2%
Asset-Backed Security
1%
Corporate Note
12%
Negotiable CD
8%
Commercial
Paper
<1%
CAMP Pool
11%
Sector Allocation
AAA
4%
A-1
AA 7%
71%
A
7%
NR
<1%
AAAm
11%
Credit Quality
1. S&P Ratings. An average of each security’s credit rating assigned a numeric value and adjusted for its relative weighting in the portfolio. #9..
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-2.00%
-1.00%
0.00%
1.00%
2.00%
FYE 2023 3 Years 5 Years 10 Years
Annualized Returns Net of Management Fees1,2,3
As of June 30, 2023
City of Modesto Long-Term Portfolio Benchmark
+0.41% +0.34%
+0.30% +0.23%
9 1. Performance on trade date basis, net of portfolio management fees. Excludes collateralized certificates of deposit, cash, and pool balances from performance, earnings, and duration computations.
2. The benchmark is the ICE BofAML 1-5 Year U.S. Treasury Index since December 31, 2018, and was the ICE BofAML 1-3 Year U.S. Treasury Index prior. ICE BofAML indices provided by Bloomberg Financial Markets.
3. Portfolio inception date as of March 31, 2004.
Portfolio Performance Remains Strong
Relative to Benchmark
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Looking Ahead
➢ Consumers continue to drive growth
▹ First estimate of 2Q GDP was 2.4%
▹ Stronger growth could lead to higher inflation and
rates at higher levels for longer
➢ Future rate hikes remain a possibility, but will be
dependent on the data
▹ Prior to September meeting, Fed will see two jobs
reports and CPI reports
▹ Independent forecasters at the Fed are no longer
expecting a recession
➢ Strategic management of City’s funds will adjust to
changing market/interest rates
▹ Current expectation is for rising interest rate cycle to end in 2023
▹ Shifting to neutral duration in long-term portfolio
▹ Look to further diversify the portfolio
▹ Focus on safety remains the top priority
10 #9..
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QUESTIONS?
11 #9..
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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. Bank is 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.
For more information regarding PFMAM’s services please visit www.pfmam.com. 12 Disclaimer
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CITY OF MODESTO
COUNCIL AGENDA REPORT
DATE OF MEETING:
September 26, 2023
Date: August 29, 2023
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
SUBJECT: Surplus Personal Property Report for Fiscal Year 2022-2023 CONTACT: Vanessa Ferrel, Financial Analyst III, [email protected], 209-571-5174 DESCRIPTION:
Consider accepting a report detailing City personal property sold, donated, or disposed of during Fiscal Year 2022-23. (Funding Source: Various Funds)
STRATEGIC PLAN ELEMENT:
This item supports the City of Modesto 2020-2025 Strategic Plan focus of Governance and Service Delivery under Goal H: Achieve Financial Sustainability.
BACKGROUND:
The City’s obsolete, unused or surplus personal property items typically consist of: (1) property and scrap accumulated by the City; (2) surplus City vehicles and equipment; and (3) recovered stolen and/or seized property accumulated by the Police Department.
The Accounting Division of the Finance Department currently sells the majority of the obsolete, unused and surplus personal property online through PublicSurplus.com. Items not sold online are sold or donated to local non-profits. The Police Department currently sells recovered stolen and/or seized property online using PropertyRoom.com.
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City Council, September 26, 2023
Surplus Personal Property Report for Fiscal Year 2022-2023
DISCUSSION:
PublicSurplus.com is an Internet auction service company. The Public Surplus Internet auction system was created with unique capabilities exclusively for public agencies. On March 12, 2019, Resolution No. 2019-117, Council approved an agreement with The Public Group by utilizing the competitive bid process with National Intergovernmental Purchasing Alliance (National IPA), City of Tucson, for online auction services with a two-year agreement and three one-year extension options with PublicSurplus.com. On May 24, 2022, Resolution No. 2022-254, Council approved an amendment increasing the agreement amount by $12,000 annually from $18,000 to a revised estimated amount of $30,000 and for a revised total amount not to exceed $114,000 over five years. Agencies can use the Public Surplus system to organize, automate, and manage their entire surplus inventory operations.
System capabilities include the following:
• Public Surplus helps agencies comply with state and local regulations and policies by automatically maintaining audit records.
• Public Surplus is able to attract larger number of buyers from an agency’s own community, as well as specialty buyers from across the United States. • Allow for out of state sales due to new regulations regarding the sale of diesel-fueled vehicles.
• There is no cost to agencies for registering, listing or relisting items for sale. • There is a 5% surcharge fee payable only when items sell, which the buyer pays. • No commitment or contract is required. Use of agencies is solely at their discretion.
During Fiscal Year 2022-23, the Police Department sold recovered stolen and/or seized property online using PropertyRoom.com through an at-will annual agreement. The agreement renews automatically each year unless there is a 30-day written notice of termination. The Police Department is pleased with the service they have received.
PropertyRoom.com combines property from law enforcement agencies throughout the country and presents it to a national audience of millions of potentially bidders. PropertyRoom.com staff will bar code, pick up, digitally photograph, describe, upload and list property for auction. At the conclusion of the auction, funds are collected and PropertyRoom.com personnel pack and ship items to the winning bidder. The revenue share varies by the value of the items sold. For items sold under $1,000 there is a 50%-50% split of the selling price. Any items sold for over $1,000 the City would receive 75% of the selling price. Exploring other means of surplus property sales will help to ensure that the City takes full advantage of its surplus revenue recovery options.
Section 801(r) of the City Charter authorizes the City Manager to sell obsolete, and unused or surplus personal property of the City with the approval of the City Council.
Title 8, Chapter 3, Article 5 of the Modesto Municipal Code (MMC) states in part that the Purchasing Manager shall compile a detailed listing of all personal property sold, donated, or disposed of during each fiscal year and report to Council with said list. Currently, the role of managing surplus of City property resides under the Accounting Division, and this role has been delegated to the Accounting Manager. This report along with the attached detailed listing of property sold meets the MMC requirement.
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City Council, September 26, 2023
Surplus Personal Property Report for Fiscal Year 2022-2023
FISCAL IMPACT:
For Fiscal Year 2022-2023, the City received a total of $316,099 from the sale of surplus property, vehicles and equipment. Revenues from the sale of surplus Fleet vehicles/equipment are deposited in the various Fleet Replacement funds. All revenues received from the sale of non-rolling stock are deposited in either the originated fund or the General Fund. For Fiscal Year 2022-23, the Police Department received $1,563 from the sale of recovered stolen and/or seized property which is in included in the General Fund total.
FUND AMOUNT
Building Services Fund $ 44,975
Compost Fund $ 8,110
Fleet Management Fund $ 37,531
General Fund $ 28,239
Green Waste Fund $ 28,700
Information Technology Fund $ 20
Sewer Operations Fund $ 990
Storm Drain Fund $ 94,200
Surface Transportation Fund $ 10,700
Water Fund $ 64,197
TOTAL $ 317,662
COMMITTEE RECOMMENDATION:
The item was accepted by the Finance Committee on August 21, 2023 and approved to forward to Council.
RECOMMENDED COUNCIL ACTION:
Staff Recommendations:
Motion accepting a report detailing all personal property sold, donated, or disposed of during Fiscal Year 2022-23.
Approved by:
DeAnna Christensen, Director of Finance
Joseph P. Lopez, City Manager
Attachments:
1. Copy of Public Surplus Report 22-23
2. Copy of Property Room Report 22-23
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FY 22-23
Auction ID Title Sold Amount Payment Date Fund
3117794 2008 FORD F250 TRK 3/4 TON 4X4 EXT CAB 40823 $7,200 02/10/2023 Compost Fund 3137492 2004 WILDCAT SPB-718 WINDROW TURNER 50492 $910 02/13/2023 Compost Fund $8,110 Compost Fund Total
3099308 1994 Zeiman 1305 Flatbed Trailer 89410 $2,275 02/06/2023 Fleet Management Fund 3117795 2002 FREIGHTLINER FL80 14 YD DUMP 40262 $26,100 12/12/2022 Fleet Management Fund 3137490 TEREX TL100 LOADER- 51021 $9,156 05/15/2023 Fleet Management Fund $37,531 Fleet Management Fund Total
3099055 1993 Ford E-350 Ambulance 99303 $3,100 12/12/2022 General Fund 3137488 2008 FORD F250 TRK 3/4 TON W/ DUMP W/ LIFT 40834 $6,100 12/13/2022 General Fund 3137493 2011 Ford Crown Vic - 11155 $610 05/15/2023 General Fund 3137494 2003 White Chevrolet Impala - 10388 $1,580 05/16/2023 General Fund 3171195 Xerox 7845 PT2 $82 12/15/2022 General Fund
3205709 2005 White Nissan Altima - 10575 $2,400 05/13/2023 General Fund 3205712 2010 Ford Crown Vic - 11026 $504 05/15/2023 General Fund 3212839 2002 FORD F350 TRK 1 TON STAKE SIDE DUMP - 40221 $6,100 05/10/2023 General Fund 3232215 2003 FORD F550 TRK 17.5 W/CARGO BODY - 40399 $6,200 05/15/2023 General Fund $26,676 General Fund Total
3117796 2006 CHEVROLET KODIAK C6500 21.0 W/LOW PROFILE DUMP 40671 $15,300 12/13/2022 Green Waste Fund 3137491 TEREX TL100 LOADER - 51022 $13,400 05/15/2023 Green Waste Fund $28,700 Green Waste Fund Total
3159845 Lot of 7 Dell monitors $10 11/17/2022 Information Technology Fund 3159848 Lot of 7 Dell monitors $10 11/17/2022 Information Technology Fund $20 Information Technology Fund Total
2999128 2011 Freightliner M2106 Vacuum truck - 41127 $43,100 12/13/2022 P/R Building Services Fund 2999129 2008 White Ford Extended cab F150 1/2 ton - 30886 $1,875 02/06/2023 P/R Building Services Fund $44,975 P/R Building Services Fund Total
3099056 2002 CHEVROLET C1500 single cab long bed 30208 $990 02/06/2023 Sewer Operationgs Fund $990 Sewer Operationgs Fund Total
3117792 2012 FREIGHTLINER M2106 VACUUM 3 AXLE - 41224 $51,100 02/08/2023 Storm Drainage Fund #10..
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3137489 2011 FREIGHTLINER M2106 66.0 VACUUM 41104 $43,100 12/13/2022 Storm Drainage Fund $94,200 Storm Drainage Fund Total
3232213 FREIGHTLINER MT55 VAN 1 TON W/AERIAL BUCKET -40677 $10,700 05/18/2023 Surface Transportation Fund $10,700 Surface Transportation Fund Total
3099052 2008 Ford F-250 extended cab with utility bed 40874 $4,000 05/11/2023 Water Fund 3099053 2008 Ford F-250 extended cab with utility bed 40872 $7,000 12/14/2022 Water Fund 3099306 2001 Ford F-350 Extended Cab with flat bed 40155 $6,201 12/13/2022 Water Fund 3117793 2001 FORD F550 TRK 17.5 4X4 W/COMBO BODY 40126 $19,401 02/08/2023 Water Fund 3137495 2003 JOHN DEERE 444H - 50304 $24,100 05/10/2023 Water Fund 3205710 2003 TARGET PRO65III CONCRETE SAW - 70300 $445 05/11/2023 Water Fund 3221285 Trench Compactors- lot of 12 $3,050 03/09/2023 Water Fund $64,197 Water Fund Total
$316,099
TOTAL
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CITY OF MODESTO
COUNCIL AGENDA REPORT
DATE OF MEETING:
September 26, 2023
Date: August 29, 2023
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
SUBJECT: Fiscal Year 2022-2023 Unclaimed Funds to General Fund CONTACT: Vanessa Ferrel, Financial Analyst III, [email protected], 209-571-5174 DESCRIPTION:
Consider approving a report on Fiscal Year 2022-2023 unclaimed funds of $11,601 that can be transferred to the General Fund. (Funding Source: General Fund) STRATEGIC PLAN ELEMENT:
This item supports the City of Modesto 2020-2025 Strategic Plan focus of Governance and Service Delivery under Goal H: Achieve Financial Sustainability.
BACKGROUND:
The City is permitted under Government Code Sections 50050-50053 and 50055 to claim unclaimed funds held in the City’s Trust fund for more than three years as unclaimed property and transfer these funds to the City’s General Fund. In order to transfer these funds the City needs to prepare a Resolution annually to claim these funds that have been held by the City for more than three years. Unclaimed funds include checks issued by the City which have not been deposited or cashed by the payee. These checks are related to a variety of deposits: Utility Deposits, Business License Deposits, and Capacity Fee Refunds.
State law requires that a list of unclaimed funds (checks and/or deposits), for amounts of $15 or more, held in the City’s Trust Fund, be published in a newspaper of general circulation in the City of Modesto, for two successive weeks. There is a forty-five day period from the date of the first publication of the list, during which individuals have the right to contact the City and claim the funds on deposit. Any funds that are not claimed become the property of the City after this time period.
DISCUSSION:
For the Fiscal Year 2022-2023 unclaimed funds, the City advertised $9,828 through the Modesto Bee based on these funds being held in the City’s Trust Fund for three years or more and remaining unclaimed after advertisement. These advertisements were posted in the #11..
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City Council, September 26, 2023
Fiscal Year 2022-2023 Unclaimed Fund to General Fund
Modesto Bee throughout the fiscal year for public notice. Small amounts that did not meet the $15 threshold totaled $1,773.
FISCAL IMPACT:
The unclaimed funds transferred to the General Fund will increase the fund balance by $11,601.
At this time the City will not be appropriating these funds for any specific use.
COMMITTEE RECOMMENDATION:
This item was accepted by the Finance Committee on August 21, 2023 and recommended to forward to Council for approval.
RECOMMENDED COUNCIL ACTION:
Staff Recommendation:
Resolution claiming Fiscal Year 2022-2023 unclaimed funds of $11,601 held in the City’s trust fund for more than three years and authorizing the transfer to the General Fund.
Approved by:
DeAnna Christensen, Director of Finance
Joseph P. Lopez, City Manager
Attachments:
1. Resolution
2. Copy of Modesto BEE Affidavit of Publication
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1 MODESTO CITY COUNCIL
RESOLUTION NO. 2023-
RESOLUTION CLAIMING FISCAL YEAR 2022-2023 UNCLAIMED FUNDS OF $11,601 HELD IN THE CITY’S TRUST FUND FOR MORE THAN THREE YEARS
AND AUTHORIZING THE TRANSFER TO THE GENERAL FUND
WHEREAS, the City issues checks from time to time that remain uncashed by the payee, and such checks that are not cashed remain in the accounting records as Outstanding Checks; and
WHEREAS, California Government Code Sections 50050-50053 and 50055 establishes provisions for the escheatment of such unclaimed money to the City’s General Fund; and
WHEREAS, State law requires unclaimed funds in the amount of $15 or more, held in the City’s Trust fund, be published in a newspaper of general circulation in the City of Modesto, for two successive weeks; and
WHEREAS, after a forty-five day period from the date of the first publication any funds that are not claimed become the property of the City of Modesto.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves $11,601 in Fiscal Year 2022-2023 unclaimed funds to be transferred to the General Fund.
BE IT FURTHER RESOLVED that the City Manager, or his designee, is hereby authorized to take the necessary steps to implement the provisions of this Resolution. #11..
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2 The foregoing resolution was introduced at a special meeting of the Council of the City of Modesto held on the 26th day of, September 2023, by Councilmember ?, who moved its adoption, which motion being duly seconded by Councilmember ?, was upon roll call carried and the resolution adopted by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
ATTEST: ________________________
DIANA NAYARES-PEREZ, City Clerk
(SEAL)
APPROVED AS TO FORM:
BY: _______________________________
JOSE M. SANCHEZ, City Attorney
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NOTICE OF CITY OF MODESTO UNCLAIMED TRUST DEPOSITS
THE FOLLOWING UNCLAIMED FUNDS HAVE BEEN HELD BY THE CITY OF MODESTO IN ITS TRUST FUND IN EXCESS OF THREE (3) YEARS AND WILL
BECOME THE PROPERTY OF THE CITY OF MODESTO IF A VERIFIED CLAIM IS NOT MADE PRIOR TO JULY 15, 2022. AUTHORITY: CALIFORNIA GOVERNMENT CODE, SECTION 50050-50053. FURTHER INFORMATION MAY BE OBTAINED FROM THE CITY OF MODESTO, FINANCE DEPT. CALL ACCOUNTS RECEIVABLE 209-577-5303 FOR A CLAIM FORM.
PROSOURCE PARTS LLC $100 SUNNY MASSAGE AND/OR ZHIMING, ZHANG $100.00 HEARTLAND LOGISTICS $100 MCFADDEN, JOHN A $275 LIEBERT CASSIDY WHITMORE $275 RIGHTWAY INSTALLERS $100 DREAM LAB MUSIC $100 SHEAR PERFECTION HAIR SALON $100 TROPICAL DELIGHT $100 BURNOUT AUTO REPAIR $100 INTERSTATE RIM MANAGEMENT CO LLC $100 GREAT WALL $100 AVERY EDWARD DANLEY $257 COYT, TERESITA ROSA $282.37 NATIONSTAR MORTGAGE $111.57 HASKIN, HOWARD $98 MONDRAGON, LESETTE CISNEROS $214 BILLS SPORT & BAIT SHOP $100 MUYIXIE @ NEW EXPERIENCE BODY SPA $100 IMPERIO 99 $62.75 NINA CODY $100 BONILLA CLEAN & CLEAR SERVICE $20.25 JENNY LE @ SALON CHEZ BEAU $62.75 SOLARCITY $82.85 RICHARD BUCK $163.29 THD AT HOME SERVICES INC $235.21 JENAE BOLES $32 PANTERAS TIRES $21.34 TRIO, ZACHARY $296.67 CLASSIC POOL SERVICES $100 VFORCE STAFFING SOLUTIONS $64.03 CAROLINA MONTES @ XOTIC HAIR SALON $100 ERIBERTO RODRIGUEZ $200 GREENE, FIDLER & CHAPLAN LLP $275 LION FUSION EXPRESS $100 JERICA CAMPBELL $400 CARLOS CAMPOS $50 JOAN SARRERO $30 ISAAC ZUNIGA $38 ORIENTAL MASSAGE $90 MVP MARTIAL ARTS @KID TIME FITNESS $56 BLACK CLOUD NETWORS $100 TRUSTED REALTORS 4 U $100 MAKEUP & SKIN BY KATIE $100 MAUCIO DAVID $399.34 ROSA MAGANA $70 ALLEN, ANITA 693.78 FAGEN, DANA $30 XMAS GIFTS $100 STERLING INSTALLATIONS $100 ALFRED PELUCCA TRUST $1,600 WORLD CLASS MANAGEMEN INC $63.77 CONSOLIDATED RELIANCE $66.47 GUIZAR, JAMIE $112.17 GROVER, WILLIAM $54.10 COSTA, GENEVA $96.91 VASQUEZ, KERRI $91.30 COUGHLIN, LORNA F $19.38 ROBERTO PARRA MALDONADO $125.15 KENNETH FERNANDES $72.65 BURNETT, LADEAN $16.77 MOORE, DANNY $63.58 MARTELLA, ROLAND $35.75 WILLEMS, LEE $37.25 MANCINI, JOHN $126.60 SANCHEZ REAL ESTATE $33.86 ALONZO J BLAND $45.27 OPEN VIEWS INC $51.19 JOSE QUINTERO $129.12
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CITY OF MODESTO
COUNCIL AGENDA REPORT
DATE OF MEETING:
September 26, 2023
Date: August 29, 2023
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
SUBJECT: 2022-2023 Accounts Receivable Write-offs and Adjustments CONTACT: Vanessa Ferrel, Financial Analyst III, [email protected], 209-571-5174 DESCRIPTION:
Consider approving the Fiscal Year 2022-23 Write-Off and Adjustments Reports through Fiscal Year-end June 30, 2023, in the total amount of $1,310,155. (Funding Source: Various Funds) STRATEGIC PLAN ELEMENT:
This item supports the City of Modesto 2020-2025 Strategic Plan focus of Governance and Service Delivery under Goal H: Achieve Financial Sustainability.
BACKGROUND:
The City’s Department of Finance maintains the billing system that records and tracks monies owed to the City. Occasionally, the responsible party does not pay the City as required. It is the City’s policy to actively pursue collection of past-due accounts and write-off amounts deemed to be uncollectible. The City employs different means of collecting monies owed including collection letters, collection phone calls, skip tracing, property liens, tax refund interceptions, third party collection agency referrals and any available legal remedies recommended by the City Attorney. An account is considered uncollectible after the above applicable collection procedures have been exhausted and/or the debt has been discharged through various legal actions (bankruptcy or court judgement). This determination may occur in the same or in a different fiscal year from when the monies were determined to be due to the City. Although write-offs occur semi-annually and reported during the following fiscal year, collection efforts continue until the statute of limitations expires for collection actions. California Code of Civil Procedure Section 337 restricts the City’s collection actions after four (4) years. State law prevents the City from using a tax or property lien to collect certain delinquent fees from owneroccupied dwellings (such as nuisance abatement fines and fees, zoning code violations, and certain Housing and Building Code fines and fees).
DISCUSSION:
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City Council, September 26, 2023
2022-2023 Account Receivable Write-offs and Adjustments
The Modesto Municipal Code section 2-3.406 requires that when a fee or charge in excess of twenty-five thousand dollars ($25,000) is incorrectly levied or found to be uncollectible, such accounts will be referred to the City Manager who will promptly report them to the City Council with his/her recommendation. Where a fee or charge of twenty-five thousand dollars ($25,000) or less is incorrectly levied or found to be uncollectible, the City’s Write-off of Uncollectible Accounts Receivable policy requires the following approval authority:
The Director of Finance is authorized to approve the write-off of accounts with an outstanding balance due of up to $5,000.
The City Manager is authorized to approve the write-off of accounts with an outstanding balance in excess of $5,000 and up to $25,000. Write-off of accounts with an outstanding balance due in excess of $25,000 must be approved by action of the City Council.
In FY 2018-19, the Finance Department established Administrative Directive 7.20, Accounts Receivable Adjustment Policy, and determined the Accounts Receivable, Utility Billing, Parking Citations and Business License adjustments should be incorporated into the annual report.
In early 2023, an update was made to Administrative Directive 7.18 Write-Off of Uncollectible Accounts Receivables, aligning all divisions with the write off uncollectible timeline of four years as stated in the State of California Code of Civil Procedures. Based on this change, the Utility Billing Division did not have any new uncollectible accounts for this write off period.
The Director of Finance approved write-offs and adjustments with an outstanding balance of up to $5,000 in the amounts below. Adjustments may include a one-time courtesy of fees, penalties, or to address initial citations assessed in effort to bring the customer account balance up to date.
Write-offs Adjustments Totals
Miscellaneous Receivables $197,830 $1,039 $198,869
Utilities Receivables $243,541 $421,353 $664,894
Parking Citations $300,262 $5,560 $305,822
Business License $0 $128,837 $128,837
TOTAL $741,633 $556,789 $1,298,422
The City Manager approved write-offs with an outstanding balance in excess of $5,000 and up to $25,000 for the following type of receivables:
Writeoffs Adjustments Totals
Utility Receivables $11,733 $0 $11,733
TOTAL $11,733 $0 $11,733
#12..
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City Council, September 26, 2023
2022-2023 Account Receivable Write-offs and Adjustments
The write-off memos approved by the Director of Finance and City Manager for $1,310,155 have been included as part of the attachment on this report.
The value of $1,310,155 that is being written-off accounts for less than 1% of receivables. The amount due as of June 30, 2023 is $17,713,405 for Miscellaneous Receivables and $15,492,004 for Utilities Receivables.
FISCAL IMPACT:
The amounts to be written off of $1,298,422 for amounts under $5,000 and $11,733 for amounts over $5,000 will not impact recognized revenue for Fiscal Year 2022-23 due to an annual adjustment that is recorded on the City’s financial statements to record any allowance for uncollectible accounts.
COMMITTEE RECOMMENDATION:
This item was accepted by the Finance Committee on August 21, 2023 and recommended to forward to Council for approval for the amount of $1,310,155.
RECOMMENDED COUNCIL ACTION:
Staff Recommendation:
Resolution approving the 2022-2023 Write-Off and Adjustments Reports through Fiscal Year end June 30, 2023 in the total amount of $1,310,155 and directing a Report of Disposition to be filed with the City Clerk.
Approved by:
DeAnna Christensen, Director of Finance
Joseph P. Lopez, City Manager
Attachments:
1. Resolution
2. Write-off Uncollectible account memos
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1 MODESTO CITY COUNCIL
RESOLUTION NO. 2023-
RESOLUTION APPROVING THE 2022-2023 WRITE-OFF AND ADJUSTMENTS REPORTS THROUGH FISCAL YEAR END JUNE 30, 2023 IN THE TOTAL AMOUNT OF $1,310,155 AND DIRECTING A REPORT OF DISPOSITION TO BE
FILED WITH THE CITY CLERK
WHEREAS, the Finance Department maintains a billing system to track monies owed to the City; and
WHEREAS, occasionally the responsible party does not pay the City as required; and WHEREAS, it is the City’s policy to actively pursue collection of past-due accounts and write off amounts deemed to be uncollectible; and
WHEREAS, the City employs various different means of trying to collect past-due accounts; and
WHEREAS, collection efforts continue until the legal statute restricts the City’s collections actions; and
WHEREAS, the City’s Write-off of Uncollectible Accounts Receivable policy, as allowed under by Section 2-3.406 of Article 4 of Title 2 of the Municipal Code, requires the following approval authority: the Director of Finance is authorized to approve the write-off of accounts with an outstanding balance due of up to $5,000, and the City Manager is authorized to approve the write-off of accounts with an outstanding balance due in excess of $5,000 and up to $25,000; and
WHEREAS, in Fiscal Year 2018-2019, the Finance Department established Administrative Directive 7.20, Accounts Receivable Adjustment Policy, and determined the Accounts Receivable, Utility Billing, Parking Citations and Business License adjustments should be incorporated into the annual report; and
#12..
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2 WHEREAS, the following amounts with an outstanding balance less than $5,000 have been approved for write-off by the Director of Finance for the Fiscal Year 2022-2023 and as such all available collection remedies have been exhausted: (1) Miscellaneous Receivables- $198,869, (2) Utilities Receivables - $664,894, (3) Parking Citations - $305,822, (4) Business License - $128,837; and
WHEREAS, for the write off and adjustment amounts in excess of $5,000 and up to $25,000 for $11,733, the City Manager is authorized to approve.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby accepts the City Manager’s and Director of Finance reports of uncollectible utility and accounts receivable in the total amount of $1,310,155, and approve a report of disposition be filed with the City Clerk.
#12..
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3 The foregoing resolution was introduced at a special meeting of the Council of the City of Modesto held on the 26th day of, September 2023, by Councilmember ?, who moved its adoption, which motion being duly seconded by Councilmember ?, was upon roll call carried and the resolution adopted by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
ATTEST: _________________________
DIANA NAYARES-PEREZ, City Clerk
(SEAL)
APPROVED AS TO FORM:
BY: _______________________________
JOSE M. SANCHEZ, City Attorney
#12..
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DATE: January 31, 2023
TO: DeAnna Christensen
Director of Finance
FROM: Jennifer Martin
Revenue Collections & Compliance Manager
RE: Write-off of amounts less than $5,000 & below
Please approve the following write-offs, each less than $5,000. The City has exhausted all internal methods of recovery and where applicable these accounts have been submitted to the City’s outside collection agency. The collection agency has been unsuccessful in collection of the debt owed. Based on the inability to collect, the Utility Billing Division is requesting to write the debt off.
Attached, you will find the list of accounts that need to be written off in Utility Billing.
Type of account * # of accounts Amount for WO
Collection Agency 397 228,949.70 $
Bankruptcy 4 1,732.58 $
Deceased 7 1,340.85 $
Uncollectibles 21 11,517.46 $
Total 429 243,540.59 $
*Accounts with a transaction date prior to 12/31/2021
** Real Estate Agents & Property Management Companies
_____________________________________________________________________________ DeAnna Christensen Date
Director of Finance
FINANCE DEPARTMENT
P.O. Box 767
Modesto, California 95353
209.577.5395
Modestogov.com
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#12..
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DATE: January 31, 2023
TO: DeAnna Christensen
Director of Finance
FROM: Jennifer Martin
Revenue Collections & Compliance Manager
RE: Write-off of amounts less than $5,000 & below
Please approve the following write-offs, each less than $5,000. The City has exhausted all internal methods of recovery and where applicable these accounts have been submitted to the City’s outside collection agency. The collection agency has been unsuccessful in collection of the debt owed. Based on the inability to collect, the Citation Processing Division is requesting to write the debt off.
Attached you will find the list of parking citations deemed uncollectible in accordance with the City’s *Write Off of Uncollectible Accounts Receivable Policy.
Type of account # of accounts Amount for WO
Parking Citations 60 $ 13,835.50
Total Write Off 60 $ 13,835.50
*Clean-up of uncollectible citations for FY 17/18
_____________________________________________________________________________ DeAnna Christensen Date
Director of Finance
FINANCE DEPARTMENT
P.O. Box 767
Modesto, California 95353
209.577.5395
Modestogov.com
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CITY OF MODESTO
FINANCE DEPARTMENT
ACCOUNTS RECEIVABLE DIVISION
1010 Tenth Street, Suite 5200 • Modesto, CA • 95354
Mailing Address: P.O. Box 3441 • Modesto, CA • 95353
209.577.5303 / fax 209.491.5992
DATE: January 30, 2023
TO: DeAnna Christensen
Director of Finance
FROM: Vanessa Ferrel
Financial Analyst - Accounts Receivable
RE: Write-Off UUT accounts less than $50
DeAnna, I need your approval to do the necessary adjustments.
Each month, as part of the reporting requirements, Pacific Gas& Electric (PG&E) sends a secured email that has a number of reports, including the report “Utility Users’ Tax (UUT) Adjustments to the City of Modesto”. PG&E is notifying the City that the amount submitted for UUT to the City is being reduced due to these accounts being considered uncollectible. The accounts listed as uncollectible are six months old and the amount due the City will not remitted to an outside collection agency by PG&E in behalf of the City. This list includes the customer name, service address, and amount of the bad debt.
For amounts listed on this report that are over $50.00, the City will begin to pursue collection of the outstanding UUT. For amounts listed on this report that are under the $50.00 threshold, these accounts will be included in the Accounts Receivable write-off process.
Please approve the following write-offs. The backup documentation is attached.
Adjustments: March 2022 $ 1,037.23
Adjustments: April 2022 $ 1,183.15
Adjustments: May 2022 $ 1,165.06
Adjustments: June 2022 $ 1,516.14
Total $ 4,901.58
Approval:
DeAnna Christensen Date
Director of Finance
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CITY OF MODESTO
FINANCE DEPARTMENT
ACCOUNTS RECEIVABLE DIVISION
1010 Tenth Street, Suite 5200 • Modesto, CA • 95354
Mailing Address: P.O. Box 3441 • Modesto, CA • 95353
209.577.5303 / fax 209.491.5992
DATE: January 30, 2023
TO: DeAnna Christensen
Director of Finance
FROM: Vanessa Ferrel
Financial Analyst – Accounts Receivable
RE: Write-Off Uncollectable accounts $5,000 and below
DeAnna, I need your approval to do the necessary adjustments. All internal and external efforts to collect have been exhausted and the accounts are deemed uncollectible. Attached you will find the list of accounts that need to be written off in Accounts Receivable.
AIRPORT 1,970.52
CAO/COST RECOVERY 267.88
CENTRE PLAZA RENTAL 650.00
COMPOST 312.03
FINANCE FEES 4,430.91
FIRE- INSPECTIONS 971.00
HR- RETIREE INS 3,440.45
NPU- CITATION 2,321.25
PD ADMIN CIT/CULTIVATION 780.00
PD-ADMIN 500.00
PD-ADMIN CITE/ANIMAL 30,674.08
PD-SECURITY 140.69
PD-SHELTER RECOVERY 13,472.07
RISK-FLEET/POLICE/FIRE 26,257.54
SALES TAX 24.54
SW-COMPLIANCE ORDER 3,830.92
TOTAL $90,043.88
Approval:
DeAnna Christensen Date
Director of Finance
#12..
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CITY OF MODESTO
FINANCE DEPARTMENT
ACCOUNTS RECEIVABLE DIVISION
1010 Tenth Street, Suite 5200 • Modesto, CA • 95354
Mailing Address: P.O. Box 3441 • Modesto, CA • 95353
209.577.5303 / fax 209.491.5992
DATE: July 28, 2023
TO: DeAnna Christensen
Director of Finance
FROM: Vanessa Ferrel
Financial Analyst- Accounts Receivable
RE: Write-Off UUT accounts less than $50
DeAnna, I need your approval to do the necessary adjustments.
Each month, as part of the reporting requirements, Pacific Gas& Electric (PG&E) sends a secured email that has a number of reports, including the report “Utility Users’ Tax (UUT) Adjustments to the City of Modesto”. PG&E is notifying the City that the amount submitted for UUT to the City is being reduced due to these accounts being considered uncollectible. The accounts listed as uncollectible are six months old and the amount due to the City will not be remitted to an outside collection agency by PG&E on behalf of the City. This list includes the customer name, service address, and amount of the bad debt.
For amounts over $50.00, the City will begin to pursue collection of the outstanding UUT. The amounts listed on this report are amounts under the $50.00 threshold and are eligible for the Accounts Receivable write-off process.
Please approve the following write-offs. The backup documentation is attached.
Adjustments: July 2022 $ 1,163.73
Adjustments: August 2022 $ 2,273.97
Adjustments: September 2022 $ 2,072.94
Adjustments: October 2022 $ 1,910.00
Adjustments: November 2022 $ 1,449.14
Adjustments: December 2022 $ 2,095.76
Total $ 10,965.54
Approval:
DeAnna Christensen Date
Director of Finance
7/30/23
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CITY OF MODESTO
FINANCE DEPARTMENT
ACCOUNTS RECEIVABLE DIVISION
1010 Tenth Street, Suite 5200 • Modesto, CA • 95354
Mailing Address: P.O. Box 3441 • Modesto, CA • 95353
209.577.5303 / fax 209.491.5992
DATE: July 28, 2023
TO: DeAnna Christensen
Director of Finance
FROM: Vanessa Ferrel
Financial Analyst – Accounts Receivable
RE: Write-Off Uncollectable accounts $5,000 and below
DeAnna, I need your approval to do the necessary adjustments. All internal and external efforts to collect have been exhausted and the accounts are deemed uncollectible. Attached you will find the list of accounts that need to be written off in Accounts Receivable.
AIRPORT 5,733.61
CAO/COST RECOVERY 501.65
COMPOST 95.72
FINANCE FEES 8,061.01
FIRE CASHOUT VACATION 3,587.25
FIRE INSPECTIONS 1,816.00
FIRE PREVENTION 2,074.00
NPU-ADMIN COSTS 374.52
NPU- CITATION 5,900.00
PD ADMIN CITATION 1,500.00
PD-ADMIN CITATION ANIMAL 13,580.00
PD-ADMIN CITATION CANNABIS 2,390.00
PD-FIREWORKS 7,583.14
PD-DUI 79.00
PD-SECURITY 11,312.90
PD-SHELTER RECOVERY 11,390.02
PD- SUBPOENA FEES 183.28
RISK-DAMAGES 1,135.01
SW-COMPLIANCE ORDER 14,205.00
UUT 135.08
WQ-ADMIN CITATION 280.00
TOTAL $91,917.19
Approval:
DeAnna Christensen Date
Director of Finance
7/30/23
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DATE: July 28, 2023
TO: DeAnna Christensen
Director of Finance
FROM: Jennifer Martin
Revenue Collections & Compliance Manager
RE: Write-off of amounts less than $5,000 & below
Please approve the following write-offs, each less than $5,000. The City has exhausted all internal methods of recovery and where applicable these accounts have been submitted to the City’s outside collection agency. The collection agency has been unsuccessful in collection of the debt owed. Based on the inability to collect, the Citation Processing Division is requesting to write the debt off.
Attached you will find the list of parking citations deemed uncollectible in accordance with the City’s *Write Off of Uncollectible Accounts Receivable Policy.
Type of account # of accounts Amount for WO
Parking Citations 1,297 $286,425.32
Total Write Off 1,297 $286,425.32
*Uncollectible citations for FY 18/19
_____________________________________________________________________________ DeAnna Christensen Date
Director of Finance
FINANCE DEPARTMENT
P.O. Box 767
Modesto, California 95353
209.577.5395
Modestogov.com
7/30/23
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CITY OF MODESTO
FINANCE DEPARTMENT
ACCOUNTS RECEIVABLE DIVISION
1010 Tenth Street, Suite 5200 • Modesto, CA • 95354
Mailing Address: P.O. Box 3441 • Modesto, CA • 95353
209.577.5303 / fax 209.491.5992
DATE: July 28, 2023
TO: DeAnna Christensen
Director of Finance
FROM: Vanessa Ferrel
Financial Analyst - Accounts Receivable
RE: Receivable Adjustments on accounts
DeAnna, I need your approval to do the necessary adjustments.
A total of $471,830.40 in adjustments was made to customer’s accounts from July 1, 2021 through June 30, 2022. These adjustments were made as one-time courtesy of fees, penalties, or to address initial citations assessed in effort to bring the customer’s account balance up to date.
These adjustments were related to charges in the Accounts Receivable, Utility Billing, Parking Citation and Business License systems.
Accounts Receivable Adjustments $ 1,039.28
Business License Adjustments $ 767.81
Business License Citation Waivers $ 128,069.06
Parking Citation Adjustments $ 5,560.00
Utility Billing Adjustments $ 421,352.79
TOTAL $ 556,788.94
Approval:
Deanna Christensen Date
Director of Finance
7/30/23
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CITY OF MODESTO
COUNCIL AGENDA REPORT
DATE OF MEETING:
September 26, 2023
Date: September 19, 2023
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Brandon Gillespie, Chief of Police
SUBJECT: Acceptance of Organized Retail Theft Prevention Grant CONTACT: Bob Meredith, Lieutenant, [email protected], 209-572-9500 DESCRIPTION:
Consider accepting the Board of State and Community Corrections Organized Retail Theft Prevention Grant in the amount of $6,003,419 in grant funds. (Funding Source: Grant funds) STRATEGIC PLAN ELEMENT:
This item is related to the adopted City Council 2020-2025 Strategic Plan focus area of Quality of Life under Goal - Improve Community Safety. It is also related to the Strategic Plan focus area of Economic Vitality under Goal – Retain and attract commercial development to meet the community’s needs.
BACKGROUND:
The State Budget Act of 2022 (Senate Bill 154, Chapter 43, Statutes of 2022) established the Organized Retail Theft Prevention Grant Program. Funding is available to California city police departments, sheriff departments, and probation departments to support local law enforcement agencies in preventing and responding to organized retail theft, motor vehicle or motor vehicle accessory theft, or cargo theft. The authority and duties of the Board of State and Community Correction (BSCC) are to administer the Organized Retail Theft Prevention Program, including the selection criteria for grants and reporting requirements to the Legislature.
This grant made $242,250,000 available competitively to city police, county sheriffs’ departments, and probation departments. Applicants proposed activities, strategies, or programs (eligible activities) that address a minimum of one (1) program purpose area (PPA).
Applicants must implement new activities, strategies, or programs, OR expand existing activities, strategies, or programs.
On June 27, 2023, the City Council approved the Modesto Police Department to apply for the Organized Retail Theft Prevention Grant Program by Resolution No. 2023-302. The application was submitted to BSCC on July 7, 2023.
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City Council, September 26, 2023
Acceptance of Organized Retail Theft Prevention Grant Program
DISCUSSION:
The Modesto Police Department has been notified that it is being awarded $6,003,419 in grant funds from the BSCC Organized Retail Theft Grant Program. The grant agreement service period covers October 1, 2023, and ends on December 31, 2026. However, an additional six (6) months (January 1, 2027, to June 1, 2027) will be included in the term of the grant agreement for the sole purposes of finalizing and submitting a required Local Evaluation Report and finalizing and submitting a required financial audit.
The Modesto Police Department will use these grant funds for the Organized Retail Theft Prevention Grant Program to improve public health and safety in Modesto by supporting local retail business and consumers through the use of technology, intelligence, cooperation and collaboration with local retailers and allied agencies, and utilizing purpose built directed enforcement to catch, dissuade, and prosecute organized retail theft offenders. This program seeks to improve the quality of life of the citizens of Modesto by reducing crime and the fear of crime when working and shopping in Modesto. It also intends to retain and attract local commercial retailers by providing them with a sense that their local government is actively taking steps to ensure their success so they can provide vital services and products today and in the future. The grant will specifically focus on two of the three Proposed Program Areas (PPA); Organized Retail Theft and Motor Vehicle/Accessory Theft.
Our approved application has a robust plan to combat Organized Retail Theft and Motor Vehicle/Accessory Theft to include conducting proactive enforcement operations, purchasing of equipment and technology to aid in reducing theft, and adding a Civilian Investigator position.
Proactive enforcement will include providing overtime funding for two enforcement operations every month to focus specifically on businesses experiencing organized retail theft as well as combating motor vehicle theft. The funding will also provide for several operations during the November and December holiday season to combat the increase in organized retail theft we experience during that timeframe each year.
Funding will be utilized to purchase tools and equipment to aid in the investigations, as well as support the infrastructure for those items. This will include the addition License Plate Readers (LPR) at 25 new intersections, camera trailers to be an overt deterrent to crime, a “bait car”, an overt vehicle (Armadillo) with recording equipment to be placed in high theft areas, and technology to analyze and monitor this equipment.
Lastly, the grant allows funding for up to three years for limited term allocation of a Civilian Investigator to be assigned to the Property Crimes Unit at the Police Department which allows a dedicated employee to investigate Organized Retail Theft/Motor Vehicle/Accessory Theft. The performance period of the grant is October 1, 2023 through December 31, 2026 with additional six (6) months (January 1, 2027 through June 1, 2027) included in the term of the contract for the purpose of finalizing and submitting a required local evaluation report and financial audit.
Funding will also be allocated for ongoing training of staff as well as data collection/evaluation services for the program.
FISCAL IMPACT:
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City Council, September 26, 2023
Acceptance of Organized Retail Theft Prevention Grant Program
The authorizing statute for the Organized Retail Theft Prevention Grant does not require any match funds. The grant will result in amending the Fiscal Year 2023-24 annual operating and multi-year non-capital project budget to set up the account for the grant as outlined in the chart below:
BSCC Budget Line Item Grant Funds
Salaries and Benefits $1,518,674
Services and Supplies $1,047,530
Data Collection and Evaluation $255,000
Equipment/Fixed Assets $3,120,215
Finance Audit (Up to $25,000) $20,000
Other (Travel, Training, etc.) $42,000
Total $6,003,419
*Includes project evaluation ($255,000), and licensing and monthly cellular fees ($14,040) The on-going costs associated with licensing and monthly cellular fees will be absorbed into the Department’s General Fund operating budget as deemed appropriate at the conclusion of the grant. The grant will be a drawdown reimbursement and will be paid quarterly in arrears for actual expenses incurred.
COMMITTEE RECOMMENDATION:
This item was not presented to a Committee due to time constraints.
RECOMMENDED COMMITTEE ACTION:
Staff Recommendations:
Resolution accepting the Board of State and Community Corrections (BSCC) Organized Retail Theft Prevention Grant in the amount of $6,003,419 in grant funds with no match requirement, and authorizing the City Manager, or his designee, to execute and submit all documents which may be necessary for the completion of the grant acceptance.
Resolution amending the Fiscal Year 2023-2024 annual Operating and Multi-Year Project Budget to appropriate revenue and expenses in the amount of $6,003,419 related to the Board of State and Community Corrections Organized Retail Theft Prevention Grant; and authorizing the City Manager, or his designee, to take the necessary steps to implement the required budget adjustment.
Resolution amending the Position Allocation for Fiscal Year 2023-2024 as adopted in the operating budget.
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City Council, September 26, 2023
Acceptance of Organized Retail Theft Prevention Grant Program
Approved by:
Brandon Gillespie, Chief of Police
Joseph P. Lopez, City Manager
Attachments:
1. Resolution – ORT Grant Acceptance
2. Resolution – Budget Amendment
3. Resolution – Position Allocation
4. BSCC Organized Retail Theft Prevention Grant Program Award Agreement #13..
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1 MODESTO CITY COUNCIL
RESOLUTION NO. 2023-?
RESOLUTION ACCEPTING THE BOARD OF STATE AND COMMUNITY
CORRECTIONS ORGANIZED RETAIL THEFT PREVENTION GRANT IN
THE AMOUNT OF $6,003,419 IN GRANT FUNDS WITH NO MATCH
REQUIREMENT; AND AUTHORIZING THE CITY MANAGER, OR HIS
DESIGNEE, TO EXECUTE AND SUBMIT ALL DOCUMENTS WHICH MAY
BE NECESSARY FOR THE COMPLETION OF THE GRANT ACCEPTANCE WHEREAS, in 2022, the State Budget Act, Senate Bill 154 Chapter 43, Statues of 2022 established the Organized Retail Theft Prevention Grant Program through the Board of State and Community Corrections, and
WHEREAS, on June 27, 2023, the City Council approved the submissions of a grant application for the Organized Retail Theft Prevention grant by Resolution No. 2023-302; and
WHEREAS, the Modesto Police Department (MPD) was the lead agency on the grant application and it was submitted July 7, 2023, and WHEREAS, the MPD has been notified that is being awarded $6,003,419 in grant funds from the BSCC Organized Retail Theft Prevention Grant Program, and WHEREAS, the Police Department has a detailed work and spending plan for the $6,003,419 in grant funds from the BSCC, and
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby accepts the Board of State and Community Corrections Organized Retail Theft Prevention Grant in the amount of $6,003,419 in grant funds.
BE IT FURTHER RESOLVED that the City Manager, or his designee, is authorized to execute and submit all documents which may be necessary hereby for the completion of the grant acceptance.
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2 The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 26th day of September, 2023, by Councilmember ?, who moved its adoption, which motion being duly seconded by Councilmember ?, was upon roll call carried and the resolution adopted by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
ATTEST: _______________________________
DIANE NAYARES-PEREZ, City Clerk
(SEAL)
APPROVED AS TO FORM:
BY: _____________________________________
JOSE M. SANCHEZ, City Attorney
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1 MODESTO CITY COUNCIL
RESOLUTION NO. 2023-?
RESOLUTION AMENDNG THE FISCAL YEAR 2023-2024 ANNUAL
OPERATING AND MULTI-YEAR NON-CAPITAL PROJECT BUDGET TO
APPROPRIATE REVENUE AND EXPENSES IN THE TOTAL AMOUNT OF $6,003,419 RELATED TO THE BOARD OF STATE AND COMMUNITY
CORRECTIONS ORGANIZED RETAIL THEFT PREVENTION GRANT; AND
AUTHORIZING THE CITY MANAGER, OR HIS DESIGNEE, TO TAKE THE
NECESSARY STEPS TO IMPLEMENT THE REQUIRED BUDGET
ADJUSTMENTS
WHEREAS, the Modesto Police Department has been awarded a grant in the amount of $6,003,419 from the Board of State and Community Corrections (BSCC) for the Organized Retail Theft Prevention Grant program; and WHERAS, the Modesto Police Department has partnered with Stanislaus County District Attorney’s office, as well as retailers through out the City of Modesto, to implement this grant; and
WHERAS, certain budgetary adjustments are necessary to account for the programming of revenues and expenses related to the BSCC Organized Retail Theft Prevention grant to allow for the receipt of grant revenue and appropriation of expenditure budgets in both operating cost centers and multi-year non-capital project expenditure budgets, and
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves the amendment of the Fiscal Year 2023-2024 Annual Operating and Multi-Year Non-Capital Budget by a total of $6,003,419 in revenues and expenses in grant funds for the BSCC Organized Retail Theft Prevention Grant Program. #13..
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2 BE IT FURTHER RESOLVED that the City Manager, or his designee, is authorized to take the necessary steps to implement the required budget adjustments necessary for this action.
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 26th day of September, 2023, by Councilmember ?, who moved its adoption, which motion being duly seconded by Councilmember ?, was upon roll call carried and the resolution adopted by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
ATTEST: _______________________________
DIANE NAYARES-PEREZ, City Clerk
(SEAL)
APPROVED AS TO FORM:
BY: _____________________________________
JOSE M. SANCHEZ, City Attorney
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MODESTO CITY COUNCIL
RESOLUTION NO. 2023-?
RESOLUTION AMENDING THE POSITION ALLOCATION FOR FISCAL
YEAR 2023-24 AS ADOPTED IN THE OPERATING BUDGET.
WHEREAS, a Position Allocation for the City of Modesto was adopted by Modesto City Council on September 26, 2023, as part of the Annual Budget of the City of Modesto for Fiscal Year 2023-24, and
WHEREAS, classification studies are conducted to ensure that a classification system is equitable and consistent within an organization and that positions are correctly classified, and
WHEREAS, per Personnel Administrative Order 2.2-87-12, a classification study may be conducted in response to a reclassification request, to develop/revise a classification specification, or to assist in a reorganization, and WHEREAS, classification studies were conducted by Human Resources to determine appropriate classifications, and
WHEREAS, position changes will be effective September 26, 2023, unless otherwise noted, and
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves amending the Position Allocation and the Fiscal Year 2023-24 Operating Budget for Modesto Police Department as follows:
1. Add one (1) Police Civilian Investigator in the Investigative Services Division (19220) of the Modesto Police Department for a 3-year limited term.
The foregoing resolution was adopted at a regular meeting of the Council of the City of Modesto held on the 26th day of September 2023, by Councilmember ?, who moved its #13..
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adoption, which motion being duly seconded by Councilmember ?, was upon roll call carried and the resolution adopted by the following vote:
AYES: Councilmembers: ?
NOES: Councilmembers: ?
ABSENT: Councilmembers: ?
ATTEST:
DIANE NAYARES-PEREZ, City Clerk
(SEAL)
APPROVED AS TO FORM:
By: ___________________________________
JOSE M. SANCHEZ, City Attorney
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STATE OF CALIFORNIA DEPARTMENT OF GENERAL SERVICES SCO ID:5227-BSCC- 1159-23 STANDARD AGREEMENT AGREEMENT NUMBER PURCHASING AUTHORITY NUMBER (If Applicable) STD 213 (Rev 03/2019) BSCC 1159- 23
1. This Agreement is entered into between the Contracting Agency and the Contractor named below:
CONTRACTING AGENCY NAME
BOARD OF STATE AND COMMUNITY CORRECTIONS
CONTRACTOR NAME
Modesto Police Department
2. The term of this Agreement is:
START DATE
OCTOBER 1, 2023
THROUGH END DATE
JUNE 1, 2027
3. The maximum amount of this Agreement is:
$6,003,419.00
4. The parties agree to comply with the terms and conditions of the following exhibits, attachments, and appendices which are by this reference made a part of the Agreement.
EXHIBITS TITLE PAGES
Exhibit A Scope of Work 3
Exhibit B Budget Detail and Payment Provisions 4
Exhibit C General Terms and Conditions (04/2017) 4
Exhibit D Special Terms and Conditions 5
Attachment 1* Organized Retail Theft Prevention Grant Program Request for Proposals * Attachment 2 Organized Retail Theft Prevention Grant Program Grant Proposal 49 Appendix A Organized Retail Theft Grant Program Scoring Panel Roster 1 Appendix B Grantee Assurance for Non-Governmental Organizations 2 * This item is hereby incorporated by reference and can be viewed at: https://www.bscc.ca.gov/organized-retail-theft-grant-program/ IN WITNESS WHEREOF, THIS AGREEMENT HAS BEEN EXECUTED BY THE PARTIES HERETO.
CONTRACTOR
CONTRACTOR NAME (if other than an individual, state whether a corporation, partnership, etc.) Modesto Police Department
CONTRACTOR BUSINESS ADDRESS CITY STATE ZIP
PO BOX 642 Modesto CA 95353
PRINTED NAME OF PERSON SIGNING
Joseph P. Lopez
TITLE
City Manager
CONTRACTOR AUTHORIZED SIGNATURE DATE SIGNED
STATE OF CALIFORNIA
CONTRACTING AGENCY NAME
BOARD OF STATE AND COMMUNITY CORRECTIONS
CONTRACTING AGENCY ADDRESS CITY STATE ZIP
2590 Venture Oaks Way, Suite 200 Sacramento CA 95833
PRINTED NAME OF PERSON SIGNING TITLE
COLLEEN CURTIN Deputy Director
CONTRACTING AGENCY AUTHORIZED SIGNATURE DATE SIGNED
CALIFORNIA DEPARTMENT OF GENERAL SERVICES APPROVAL: EXEMPT PER SCM, VOLUME 1, CH. 4.06 #13..
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Modesto PD
BSCC 1159-23
EXHIBIT A: SCOPE OF WORK
1. GRANT AGREEMENT – Organized Retail Theft Grant Program This Grant Agreement is between the State of California, Board of State and Community Corrections (hereafter referred to as BSCC) and Modesto Police Department (hereafter referred to as the Grantee).
2. PROJECT SUMMARY AND ADMINISTRATION
A. The Organized Retail Theft Grant Program was established in Senate Bill 154 (SB 154) (Chapter 43, Statutes of 2022). Organized Retail Theft Grant Program funds shall be used to support local law enforcement agencies in preventing and responding to organized retail theft, motor vehicle or motor vehicle accessory theft, or cargo theft.
B. Grantee agrees to administer the project in accordance with Attachment 1: Organized Retail Theft Grant Program Request for Proposals (incorporated by reference) and Attachment 2: Organized Retail Theft Grant Program Grant Proposal, which is attached and hereto and made part of this agreement.
3. PROJECT OFFICIALS
A. The BSCC's Executive Director or designee shall be the BSCC's representative for administration of the Grant Agreement and shall have authority to make determinations relating to any controversies that may arise under or regarding the interpretation, performance, or payment for work performed under this Grant Agreement.
B. The Grantee’s project officials shall be those identified as follows:
Authorized Officer with legal authority to sign:
Name: Joseph P. Lopez
Title: City Manager
Address: PO BOX 642, Modesto CA 95353
Phone: 209-577-5223
Email: [email protected]
Designated Financial Officer authorized to receive warrants:
Name: DeAnna Christensen
Title: Director of Finance
Address: 1010 10th Street, Suite 5200, Modesto CA 95354 Phone: 209-577-5387
Email: [email protected]
Project Director authorized to administer the project:
Name: Brandon Gillespie
Title: Chief of Polce
Address: 600 10th Street, Modesto CA 95354
Phone: 209-572-9501
Email: [email protected]
C. Either party may change its project representatives upon written notice to the other party. #13..
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Modesto PD
BSCC 1159-23
EXHIBIT A: SCOPE OF WORK
D. By signing this Grant Agreement, the Authorized Officer listed above warrants that he or she has full legal authority to bind the entity for which he or she signs.
4. DATA COLLECTION
Grantees will be required to comply with all data collection and reporting requirements as described in Attachment 1: Organized Retail Theft Grant Program Request for Proposals (incorporated by reference) and Attachment 2: Organized Retail Theft Grant Program Grant Proposal.
5. REPORTING REQUIREMENTS
A. Grantee will submit quarterly progress reports in a format prescribed by the BSCC. These reports, which will describe progress made on program objectives and include required data, shall be submitted according to the following schedule:
Quarterly Progress Report Periods Due no later than:
1. October 1, 2023 to December 31, 2023 February 15, 2024
2. January 1, 2024 to March 31, 2024 May 15, 2024
3. April 1, 2024 to June 30, 2024 August 15, 2024
4. July 1, 2024 to September 30, 2024 November 15, 2024
5. October 1, 2024 to December 31, 2024 February 15, 2025
6. January 1, 2025 to March 31, 2025 May 15, 2025
7. April 1, 2025 to June 30, 2025 August 15, 2025
8. July 1, 2025 to September 30, 2025 November 15, 2025
9. October 1, 2025 to December 31, 2025 February 15, 2026
10. January 1, 2026 to March 31, 2026 May 15, 2026
11. April 1, 2026 to June 30, 2026 August 15, 2026
12. July 1, 2026 to September 30, 2026 November 15, 2026
13. October 1, 2026 to December 31, 2026 February 15, 2027 B. Evaluation Documents Due no later than:
1. Local Evaluation Plan April 1, 2024
2. Final Local Evaluation Report June 1, 2027
C. Other Due no later than:
Financial Audit Report June 1, 2027
Grantees that are unable to demonstrate that they are making sufficient progress toward project goals and objectives and show that funds are being spent in accordance with the Grant Agreement could be subject to a withholding of funds.
6. PROJECT RECORDS
A. The Grantee shall establish an official file for the project. The file shall contain adequate documentation of all actions taken with respect to the project, including copies of this Grant Agreement, approved program/budget modifications, financial records and required reports.
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Modesto PD
BSCC 1159-23
EXHIBIT A: SCOPE OF WORK
B. The Grantee shall establish separate accounting records and maintain documents and other evidence sufficient to properly reflect the amount, receipt, and disposition of all project funds, including grant funds and any matching funds by the Grantee and the total cost of the project. Source documentation includes copies of all awards, applications, approved modifications, financial records, and narrative reports.
C. Personnel and payroll records shall include the time and attendance reports for all individuals reimbursed under the grant, whether they are employed full-time or part-time.
Time and effort reports are also required for all subcontractors and consultants.
D. The grantee shall maintain documentation of donated goods and/or services, including the basis for valuation.
E. Grantee agrees to protect records adequately from fire or other damage. When records are stored away from the Grantee’s principal office, a written index of the location of records stored must be on hand and ready access must be assured.
F. All Grantee records relevant to the project must be preserved a minimum of three (3) years after closeout of the grant project and shall be subject at all reasonable times to inspection, examination, monitoring, copying, excerpting, transcribing, and auditing by the BSCC or designees. If any litigation, claim, negotiation, audit, or other action involving the records has been started before the expiration of the three-year period, the records must be retained until the completion of the action and resolution of all issues which arise from it or until the end of the regular three-year period, whichever is later.
7. CONFLICT OF INTEREST
A. Existing law prohibits any grantee, subgrantee, partner or like party who participated on the Organized Retail Theft Grant Program Scoring Panel from receiving funds awarded under the Organized Retail Theft Grant Program RFP. Applicants who are awarded grants under this RFP are responsible for reviewing the Organized Retail Theft Grant Program Scoring Panel roster (Appendix A) and ensuring that no grant dollars are passed through to any entity represented by the members of the Organized Retail Theft Grant Program Scoring Panel.
B. In cases of an actual conflict of interest with a Scoring Panel member, the Board may revoke the grant award and legal consequences could exist for the parties involved, including, but not limited to, repayment of the grant award. #13..
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Modesto PD
BSCC 1159-23
EXHIBIT B: BUDGET DETAIL AND PAYMENT PROVISIONS
1. INVOICING AND PAYMENT
A. The Grantee shall be paid quarterly in arrears by submitting an invoice (Form 201) to the BSCC that outlines actual expenditures claimed for the invoicing period.
Quarterly Invoicing Periods: Due no later than:
1. October 1, 2023 to December 31, 2023 February 15, 2024
2. January 1, 2024 to March 31, 2024 May 15, 2024
3. April 1, 2024 to June 30, 2024 August 15, 2024
4. July 1, 2024 to September 30, 2024 November 15, 2024
5. October 1, 2024 to December 31, 2024 February 15, 2025
6. January 1, 2025 to March 31, 2025 May 15, 2025
7. April 1, 2025 to June 30, 2025 August 15, 2025
8. July 1, 2025 to September 30, 2025 November 15, 2025
9. October 1, 2025 to December 31, 2025 February 15, 2026
10. January 1, 2026 to March 31, 2026 May 15, 2026
11. April 1, 2026 to June 30, 2026 August 15, 2026
12. July 1, 2026 to September 30, 2026 November 15, 2026
13. October 1, 2026 to December 31, 2026 February 15, 2027 Final Invoicing Periods*: Due no later than:
14. January 1, 2027 to March 31, 2027 May 15, 2027
15. April 1, 2027 to June 1, 2027 August 15, 2027
*Note: Project activity period ends December 31, 2026. The period of January 1, 2027, to June 1, 2027, is for completion of Final Local Evaluation Report and financial audit only.
B. All project expenses must be incurred by the end of the project activity period, December 31, 2026, and included on the final invoice due February 15, 2027. Project expenditures incurred after December 31, 2026 will not be reimbursed.
C. The Final Local Evaluation Report is due to BSCC by June 1, 2027. Expenditures incurred for the completion of the Final Local Evaluation Report during the period of January 1, 2027, to June 1, 2027, must be submitted during the Final Invoicing Periods, with the final invoice due on August 15, 2027. Supporting fiscal documentation will be required for all expenditures claimed on during the Final Invoicing Periods and must be submitted with the final invoice.
D. The Financial Audit Report is due to BSCC by June 1, 2027. Expenditures incurred for the completion of the financial audit during the period of January 1, 2027, to June 1, 2027, must be submitted during the Final Invoicing Periods, with the final invoice due on August 15, 2027. Supporting fiscal documentation will be required for all expenditures claimed during the Final Invoicing Periods and must be submitted with the final invoice.
E. Grantee shall submit an invoice to the BSCC each invoicing period, even if grant funds are not expended or requested during the invoicing period.
F. Upon the BSCC’s request, supporting documentation must be submitted for project expenditures. Grantees are required to maintain supporting documentation for all #13..
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Modesto PD
BSCC 1159-23
EXHIBIT B: BUDGET DETAIL AND PAYMENT PROVISIONS
expenditures on the project site for the life of the grant and make it readily available for review during BSCC site visits. See Exhibit A. Scope of Work, Item 6. Project Records.
2. GRANT AMOUNT AND LIMITATION
A. In no event shall the BSCC be obligated to pay any amount in excess of the grant award.
Grantee waives any and all claims against the BSCC, and the State of California on account of project costs that may exceed the sum of the grant award.
B. Under no circumstance will a budget item change be authorized that would cause the project to exceed the amount of the grant award identified in this Grant Agreement. In no event shall changes be authorized for the Administrative Salaries and Benefits line item that would result in that item exceeding ten percent (10%) of the grant award.
3. BUDGET CONTINGENCY CLAUSE
A. This grant agreement is valid through Organized Retail Theft funding generated from the General Fund. The Grantee agrees that the BSCC’s obligation to pay any sum to the grantee under any provision of this agreement is contingent upon the availability of sufficient funding granted through the passage of Senate Bill 154 (Chapter 43, Statutes of 2022), also known as the California Budget Act of 2022. It is mutually agreed that if the Budget Act of the current year and/or any subsequent years covered under this Grant Agreement does not appropriate sufficient funds for the program, this Grant Agreement shall be of no further force and effect. In this event, the BSCC shall have no liability to pay any funds whatsoever to Grantee or to furnish any other considerations under this Agreement and Grantee shall not be obligated to perform any provisions of this Grant Agreement.
B. If Organized Retail Theft funding is reduced or falls below estimates contained within the Organized Retail Theft Request for Proposals, the BSCC shall have the option to either cancel this Grant Agreement with no liability occurring to the BSCC or offer an amendment to this agreement to the Grantee to reflect a reduced amount.
C. If BSCC cancels the agreement pursuant to Paragraph 3(B) or Grantee does not agree to an amendment in accordance with the option provided by Paragraph 3(B), it is mutually agreed that the Grant Agreement shall have no further force and effect. In this event, the BSCC shall have no liability to pay any funds whatsoever to Grantee or to furnish any other considerations under this Agreement and Grantee shall not be obligated to perform any provisions of this Grant Agreement except that Grantee shall be required to maintain all project records required by Paragraph 6 of Exhibit A for a period of three (3) years following the termination of this agreement.
4. PROJECT COSTS
A. The Grantee agrees to comply with the BSCC Grant Administration Guide requirements as posted on the BSCC website (currently the BSCC Grant Administration Guide July 2020) including any updated version that may be posted during term of the grant #13..
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Modesto PD
BSCC 1159-23
EXHIBIT B: BUDGET DETAIL AND PAYMENT PROVISIONS
agreement. BSCC will notify grantees whenever an updated version is posted. The BSCC Grant Administration Guide is available at:
https://www.bscc.ca.gov/s_correctionsplanningandprograms/ B. The provisions of the BSCC Grant Administration Guide are incorporated by reference into this agreement and Grantee shall be responsible for adhering to the requirements set forth therein. To the extent any of the provisions of the BSCC Grant Administration Guide and this agreement conflict, the language in this agreement shall prevail.
C. Grantee is responsible for ensuring that statements of expenditures submitted to the BSCC claim actual expenditures for eligible project costs.
D. Grantee shall, upon demand, remit to the BSCC any grant funds not expended for eligible project costs or an amount equal to any grant funds expended by the Grantee in violation of the terms, provisions, conditions or commitments of this Grant Agreement.
E. Grant funds must be used to support new program activities or to augment existing funds that expand current program activities. Grant funds shall not replace (supplant) any federal, state and/or local funds that have been appropriated for the same purpose.
Violations can result in recoupment of monies provided under this grantor suspension of future program funding through BSCC grants.
5. PROMPT PAYMENT CLAUSE
Payment will be made in accordance with, and within the time specified in, Government Code Chapter 4.5, commencing with Section 927.
6. WITHHOLDING OF GRANT DISBURSEMENTS
A. The BSCC may withhold all or any portion of the grant funds provided by this Grant Agreement in the event the Grantee has materially and substantially breached the terms and conditions of this Grant Agreement.
B. At such time as the balance of state funds allocated to the Grantee reaches five percent (5%), the BSCC may withhold that amount as security, to be released to the Grantee upon compliance with all grant provisions, including:
1) submittal and approval of the final invoice;
2) submittal and approval of the final progress report; and C. The BSCC will not reimburse Grantee for costs identified as ineligible for grant funding. If grant funds have been provided for costs subsequently deemed ineligible, the BSCC may either withhold an equal amount from future payments to the Grantee or require repayment of an equal amount to the State by the Grantee.
D. In the event that grant funds are withheld from the Grantee, the BSCC’s Executive Director or designee shall notify the Grantee of the reasons for withholding and advise the Grantee of the time within which the Grantee may remedy the failure or violation leading to the withholding.
7. EXECUTIVE ORDER N-6-22 – RUSSIA SANCTIONS
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Modesto PD
BSCC 1159-23
EXHIBIT B: BUDGET DETAIL AND PAYMENT PROVISIONS
On March 4, 2022, Governor Gavin Newsom issued Executive Order N-6-22 (the EO) regarding Economic Sanctions against Russia and Russian entities and individuals. “Economic Sanctions” refers to sanctions imposed by the U.S. government in response to Russia’s actions in Ukraine, as well as any sanctions imposed under state law. The EO directs state agencies to terminate contracts with, and to refrain from entering any new contracts with, individuals or entities that are determined to be a target of Economic Sanctions. Accordingly, should the State determine Contractor is a target of Economic Sanctions or is conducting prohibited transactions with sanctioned individuals or entities, that shall be grounds for termination of this agreement. The State shall provide Contractor advance written notice of such termination, allowing Contractor at least 30 calendar days to provide a written response. Termination shall be at the sole discretion of the State.
8. PROJECT BUDGET
BSCC Budget Line Item A.
Grant Funds
1. Salaries and Benefits $1,518,674
2. Services and Supplies $1,047,530
3. Professional Services or Public Agency Subcontracts $0
4. Non-Governmental Organization (NGO) Subcontracts $0
5. Data Collection and Evaluation $255,000
6. Equipment/Fixed Assets $3,120,215
7. Financial Audit (Up to $25,000) $20,000
8. Other (Travel, Training, etc.) $42,000
9. Indirect Costs $0
TOTALS $6,003,419
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Modesto PD
BSCC 1159-23
EXHIBIT C: GENERAL TERMS AND CONDITIONS (04/2017)
1. APPROVAL: This Agreement is of no force or effect until signed by both parties and approved by the Department of General Services, if required. Contractor may not commence performance until such approval has been obtained.
2. AMENDMENT: No amendment or variation of the terms of this Agreement shall be valid unless made in writing, signed by the parties and approved as required. No oral understanding or Agreement not incorporated in the Agreement is binding on any of the parties.
3. ASSIGNMENT: This Agreement is not assignable by the Contractor, either in whole or in part, without the consent of the State in the form of a formal written amendment.
4. AUDIT: Contractor agrees that the awarding department, the Department of General Services, the Bureau of State Audits, or their designated representative shall have the right to review and to copy any records and supporting documentation pertaining to the performance of this Agreement. Contractor agrees to maintain such records for possible audit for a minimum of three (3) years after final payment, unless a longer period of records retention is stipulated. Contractor agrees to allow the auditor(s) access to such records during normal business hours and to allow interviews of any employees who might reasonably have information related to such records. Further, Contractor agrees to include a similar right of the State to audit records and interview staff in any subcontract related to performance of this Agreement. (Gov. Code §8546.7, Pub. Contract Code §10115 et seq., CCR Title 2, Section 1896).
5. INDEMNIFICATION: Contractor agrees to indemnify, defend and hold harmless the State, its officers, agents and employees from any and all claims and losses accruing or resulting to any and all contractors, subcontractors, suppliers, laborers, and any other person, firm or corporation furnishing or supplying work services, materials, or supplies in connection with the performance of this Agreement, and from any and all claims and losses accruing or resulting to any person, firm or corporation who may be injured or damaged by Contractor in the performance of this Agreement. This obligation shall survive any termination of this agreement.
6. DISPUTES: Contractor shall continue with the responsibilities under this Agreement during any dispute.
7. TERMINATION FOR CAUSE: The State may terminate this Agreement and be relieved of any payments should the Contractor fail to perform the requirements of this Agreement at the time and in the manner herein provided. In the event of such termination the State may proceed with the work in any manner deemed proper by the State. All costs to the State shall be deducted from any sum due the Contractor under this Agreement and the balance, if any, shall be paid to the Contractor upon demand.
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EXHIBIT C: GENERAL TERMS AND CONDITIONS (04/2017)
8. INDEPENDENT CONTRACTOR: Contractor, and the agents and employees of Contractor, in the performance of this Agreement, shall act in an independent capacity and not as officers or employees or agents of the State.
9. RECYCLING CERTIFICATION: The Contractor shall certify in writing under penalty of perjury, the minimum, if not exact, percentage of post-consumer material as defined in the Public Contract Code Section 12200, in products, materials, goods, or supplies offered or sold to the State regardless of whether the product meets the requirements of Public Contract Code Section 12209. With respect to printer or duplication cartridges that comply with the requirements of Section 12156(e), the certification required by this subdivision shall specify that the cartridges so comply (Pub. Contract Code §12205).
10.NON-DISCRIMINATION CLAUSE: During the performance of this Agreement, Contractor and its subcontractors shall not deny the contract’s benefits to any person on the basis of race, religious creed, color, national origin, ancestry, physical disability, mental disability, medical condition, genetic information, marital status, sex, gender, gender identity, gender expression, age, sexual orientation, or military and veteran status, nor shall they discriminate unlawfully against any employee or applicant for employment because of race, religious creed, color, national origin, ancestry, physical disability, mental disability, medical condition, genetic information, marital status, sex, gender, gender identity, gender expression, age, sexual orientation, or military and veteran status. Contractor shall insure that the evaluation and treatment of employees and applicants for employment are free of such discrimination.
Contractor and subcontractors shall comply with the provisions of the Fair Employment and Housing Act (Gov. Code §12900 et seq.), the regulations promulgated thereunder (Cal. Code Regs., tit. 2, §11000 et seq.), the provisions of Article 9.5, Chapter 1, Part 1, Division 3, Title 2 of the Government Code (Gov. Code §§11135-11139.5), and the regulations or standards adopted by the awarding state agency to implement such article. Contractor shall permit access by representatives of the Department of Fair Employment and Housing and the awarding state agency upon reasonable notice at any time during the normal business hours, but in no case less than 24 hours’ notice, to such of its books, records, accounts, and all other sources of information and its facilities as said Department or Agency shall require to ascertain compliance with this clause. Contractor and its subcontractors shall give written notice of their obligations under this clause to labor organizations with which they have a collective bargaining or other agreement. (See Cal. Code Regs., tit. 2, §11105.) Contractor shall include the nondiscrimination and compliance provisions of this clause in all subcontracts to perform work under the Agreement.
11.CERTIFICATION CLAUSES: The CONTRACTOR CERTIFICATION CLAUSES contained in the document CCC 04/2017 (https://www.dgs.ca.gov/OLS/Resources/PageContent/Office-of-Legal-Services-Resources-List-Folder/Standard-Contract-Language) are hereby incorporated by reference and made a part of this Agreement by this reference as if attached hereto.
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EXHIBIT C: GENERAL TERMS AND CONDITIONS (04/2017)
12.TIMELINESS: Time is of the essence in this Agreement.
13.COMPENSATION: The consideration to be paid Contractor, as provided herein, shall be in compensation for all of Contractor's expenses incurred in the performance hereof, including travel, per diem, and taxes, unless otherwise expressly so provided.
14.GOVERNING LAW: This contract is governed by and shall be interpreted in accordance with the laws of the State of California.
15.ANTITRUST CLAIMS: The Contractor by signing this agreement hereby certifies that if these services or goods are obtained by means of a competitive bid, the Contractor shall comply with the requirements of the Government Codes Sections set out below.
A. The Government Code Chapter on Antitrust claims contains the following definitions:
1) "Public purchase" means a purchase by means of competitive bids of goods, services, or materials by the State or any of its political subdivisions or public agencies on whose behalf the Attorney General may bring an action pursuant to subdivision (c) of Section 16750 of the Business and Professions Code.
2) "Public purchasing body" means the State or the subdivision or agency making a public purchase. Government Code Section 4550.
B. In submitting a bid to a public purchasing body, the bidder offers and agrees that if the bid is accepted, it will assign to the purchasing body all rights, title, and interest in and to all causes of action it may have under Section 4 of the Clayton Act (15 U.S.C. Sec. 15) or under the Cartwright Act (Chapter 2 (commencing with Section 16700) of Part 2 of Division 7 of the Business and Professions Code), arising from purchases of goods, materials, or services by the bidder for sale to the purchasing body pursuant to the bid.
Such assignment shall be made and become effective at the time the purchasing body tenders final payment to the bidder. Government Code Section 4552.
C. If an awarding body or public purchasing body receives, either through judgment or settlement, a monetary recovery for a cause of action assigned under this chapter, the assignor shall be entitled to receive reimbursement for actual legal costs incurred and may, upon demand, recover from the public body any portion of the recovery, including treble damages, attributable to overcharges that were paid by the assignor but were not paid by the public body as part of the bid price, less the expenses incurred in obtaining that portion of the recovery. Government Code Section 4553.
D. Upon demand in writing by the assignor, the assignee shall, within one year from such demand, reassign the cause of action assigned under this part if the assignor has been or may have been injured by the violation of law for which the cause of action arose and (a) the assignee has not been injured thereby, or (b) the assignee declines to file a court action for the cause of action. See Government Code Section 4554.
16.CHILD SUPPORT COMPLIANCE ACT: For any Agreement in excess of $100,000, the contractor acknowledges in accordance with Public Contract Code 7110, that:
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A. The contractor recognizes the importance of child and family support obligations and shall fully comply with all applicable state and federal laws relating to child and family support enforcement, including, but not limited to, disclosure of information and compliance with earnings assignment orders, as provided in Chapter 8 (commencing with section 5200) of Part 5 of Division 9 of the Family Code; and
B. The contractor, to the best of its knowledge is fully complying with the earnings assignment orders of all employees and is providing the names of all new employees to the New Hire Registry maintained by the California Employment Development Department.
17.UNENFORCEABLE PROVISION: In the event that any provision of this Agreement is unenforceable or held to be unenforceable, then the parties agree that all other provisions of this Agreement have force and effect and shall not be affected thereby.
18.PRIORITY HIRING CONSIDERATIONS: If this Contract includes services in excess of $200,000, the Contractor shall give priority consideration in filling vacancies in positions funded by the Contract to qualified recipients of aid under Welfare and Institutions Code Section 11200 in accordance with Pub. Contract Code §10353.
19.SMALL BUSINESS PARTICIPATION AND DVBE PARTICIPATION REPORTING REQUIREMENTS:
A. If for this Contract Contractor made a commitment to achieve small business participation, then Contractor must within 60 days of receiving final payment under this Contract (or within such other time period as may be specified elsewhere in this Contract) report to the awarding department the actual percentage of small business participation that was achieved. (Gov. Code § 14841.)
B. If for this Contract Contractor made a commitment to achieve disabled veteran business enterprise (DVBE) participation, then Contractor must within 60 days of receiving final payment under this Contract (or within such other time period as may be specified elsewhere in this Contract) certify in a report to the awarding department: (1) the total amount the prime Contractor received under the Contract; (2) the name and address of the DVBE(s) that participated in the performance of the Contract; (3) the amount each DVBE received from the prime Contractor; (4) that all payments under the Contract have been made to the DVBE; and (5) the actual percentage of DVBE participation that was achieved. A person or entity that knowingly provides false information shall be subject to a civil penalty for each violation. (Mil. & Vets. Code § 999.5(d); Govt. Code § 14841.)
20.LOSS LEADER: If this contract involves the furnishing of equipment, materials, or supplies then the following statement is incorporated: It is unlawful for any person engaged in business within this state to sell or use any article or product as a “loss leader” as defined in Section 17030 of the Business and Professions Code. (PCC 10344(e).) #13..
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EXHIBIT D: SPECIAL TERMS AND CONDITIONS
1. GRANTEE’S GENERAL RESPONSIBILITY
A. Grantee agrees to comply with all terms and conditions of this Grant Agreement. Review and approval by the BSCC is solely for the purpose of proper administration of grant funds, and shall not be deemed to relieve or restrict the Grantee’s responsibility.
B. Grantee is responsible for the performance of all project activities identified in Attachment 1: Organized Retail Theft Grant Program Request for Proposals (incorporated by reference) and Attachment 2: Organized Retail Theft Grant Program Grant Proposal.
C. Grantee shall immediately advise the BSCC of any significant problems or changes that arise during the course of the project.
2. GRANTEE ASSURANCES AND COMMITMENTS
A. Compliance with Laws and Regulations
This Grant Agreement is governed by and shall be interpreted in accordance with the laws of the State of California. Grantee shall at all times comply with all applicable State laws, rules and regulations, and all applicable local ordinances.
B. Fulfillment of Assurances and Declarations
Grantee shall fulfill all assurances, declarations, representations, and statements made by the Grantee in Attachment 1: Organized Retail Theft Grant Program Request for Proposals (incorporated by reference) and Attachment 2: Organized Retail Theft Grant Program Grant Proposal, documents, amendments, approved modifications, and communications filed in support of its request for grant funds.
C. Permits and Licenses
Grantee agrees to procure all permits and licenses necessary to complete the project, pay all charges and fees, and give all notices necessary or incidental to the due and lawful proceeding of the project work.
3. POTENTIAL SUBCONTRACTORS
A. In accordance with the provisions of this Grant Agreement, the Grantee may subcontract for services needed to implement and/or support program activities. Grantee agrees that in the event of any inconsistency between this Grant Agreement and Grantee’s agreement with a subcontractor, the language of this Grant Agreement will prevail.
B. Nothing contained in this Grant Agreement or otherwise, shall create any contractual relation between the BSCC and any subcontractors, and no subcontract shall relieve the Grantee of his responsibilities and obligations hereunder. The Grantee agrees to be as fully responsible to the BSCC for the acts and omissions of its subcontractors and of persons either directly or indirectly employed by any of them as it is for the acts and omissions of persons directly employed by the Grantee. The Grantee's obligation to pay its subcontractors is an independent obligation from the BSCC's obligation to make payments to the Grantee. As a result, the BSCC shall have no obligation to pay or to enforce the payment of any moneys to any subcontractor. #13..
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EXHIBIT D: SPECIAL TERMS AND CONDITIONS
C. Grantee shall ensure that all subcontractors comply with the eligibility requirements stated in the ARG Rehabilitation of Existing Property or Building Project RFP and described in Appendix B.
D. Grantee assures that for any subcontract awarded by the Grantee, such insurance and fidelity bonds, as is customary and appropriate, will be obtained.
E. Grantee agrees to place appropriate language in all subcontracts for work on the project requiring the Grantee’s subcontractors to:
1) Books and Records
Maintain adequate fiscal and project books, records, documents, and other evidence pertinent to the subcontractor’s work on the project in accordance with generally accepted accounting principles. Adequate supporting documentation shall be maintained in such detail so as to permit tracing transactions from the invoices, to the accounting records, to the supporting documentation. These records shall be maintained for a minimum of three (3) years after the acceptance of the final grant project audit under the Grant Agreement, and shall be subject to examination and/or audit by the BSCC or designees, state government auditors or designees, or by federal government auditors or designees.
2) Access to Books and Records
Make such books, records, supporting documentations, and other evidence available to the BSCC or designee, the State Controller’s Office, the Department of General Services, the Department of Finance, California State Auditor, and their designated representatives during the course of the project and for a minimum of three (3) years after acceptance of the final grant project audit. The Subcontractor shall provide suitable facilities for access, monitoring, inspection, and copying of books and records related to the grant-funded project.
4. PROJECT ACCESS
Grantee shall ensure that the BSCC, or any authorized representative, will have suitable access to project activities, sites, staff and documents at all reasonable times during the grant period including those maintained by subcontractors. Access to program records will be made available by both the grantee and the subcontractors for a period of three (3) years following the end of the grant of the project.
5. ACCOUNTING AND AUDIT REQUIREMENTS
A. Grantee agrees that accounting procedures for grant funds received pursuant to this Grant Agreement shall be in accordance with generally accepted government accounting principles and practices, and adequate supporting documentation shall be maintained in such detail as to provide an audit trail. Supporting documentation shall permit the tracing of transactions from such documents to relevant accounting records, financial reports and invoices.
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EXHIBIT D: SPECIAL TERMS AND CONDITIONS
B. The BSCC reserves the right to call for a program or financial audit at any time between the execution of this Grant Agreement and three years following the end of the grant period. At any time, the BSCC may disallow all or part of the cost of the activity or action determined to not be in compliance with the terms and conditions of this Grant Agreement or take other remedies legally available.
6. DEBARMENT, FRAUD, THEFT OR EMBEZZLEMENT
It is the policy of the BSCC to protect grant funds from unreasonable risks of fraudulent, criminal, or other improper use. As such, the Board will not enter into contracts or provide reimbursement to grantees that have been:
1. debarred by any federal, state, or local government entities during the period of debarment; or
2. convicted of fraud, theft, or embezzlement of federal, state, or local government grant funds for a period of three years following conviction.
Furthermore, the BSCC requires grant recipients to provide an assurance that there has been no applicable debarment, disqualification, suspension, or removal from a federal, state or local grant program on the part of the grantee at the time of application and that the grantee will immediately notify the BSCC should such debarment or conviction occur during the term of the Grant contract.
BSCC also requires that all grant recipients include, as a condition of award to a subgrantee or subcontractor, a requirement that the subgrantee or subcontractor will provide the same assurances to the grant recipient. If a grant recipient wishes to consider a subgrantee or subcontractor that has been debarred or convicted, the grant recipient must submit a written request for exception to the BSCC along with supporting documentation.
All Grantees must have on file with the BSCC a completed and signed Certification of Compliance with BSCC Policies on Debarment, Fraud, Theft and Embezzlement (Required as Appendix E of the original Proposal Package).
7. MODIFICATIONS
No change or modification in the project will be permitted without prior written approval from the BSCC. Changes may include modification to project scope, changes to performance measures, compliance with collection of data elements, and other significant changes in the budget or program components contained in the Attachment 1: Organized Retail Theft Grant Program Request for Proposals and Attachment 2: Organized Retail Theft Grant Program Grant Proposal. Changes shall not be implemented by the project until authorized by the BSCC.
8. TERMINATION
A. This Grant Agreement may be terminated by the BSCC at any time after grant award and prior to completion of project upon action or inaction by the Grantee that constitutes a #13..
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EXHIBIT D: SPECIAL TERMS AND CONDITIONS
material and substantial breach of this Grant Agreement. Such action or inaction includes but is not limited to:
1) substantial alteration of the scope of the grant project without prior written approval of the BSCC;
2) refusal or inability to complete the grant project in a manner consistent with Attachment 1: Organized Retail Theft Grant Program Request for Proposals and Attachment 2: Organized Retail Theft Grant Program Grant Proposal, or approved modifications;
3) failure to meet prescribed assurances, commitments, recording, accounting, auditing, and reporting requirements of the Grant Agreement.
B. Prior to terminating the Grant Agreement under this provision, the BSCC shall provide the Grantee at least 30 calendar days written notice stating the reasons for termination and effective date thereof. The Grantee may appeal the termination decision in accordance with the instructions listed in Exhibit D: Special Terms and Conditions, Number 9.
Settlement of Disputes.
9. SETTLEMENT OF DISPUTES
A. The parties shall deal in good faith and attempt to resolve potential disputes informally. If the dispute persists, the Grantee shall submit to the BSCC Corrections Planning and Grant Programs Division Deputy Director a written demand for a final decision regarding the disposition of any dispute between the parties arising under, related to, or involving this Grant Agreement. Grantee’s written demand shall be fully supported by factual information. The BSCC Corrections Planning and Grant Programs Division Deputy Director shall have 30 days after receipt of Grantee’s written demand invoking this Section “Disputes” to render a written decision. If a written decision is not rendered within 30 days after receipt of the Grantee’s demand, it shall be deemed a decision adverse to the Grantee’s contention. If the Grantee is not satisfied with the decision of the BSCC Corrections Planning and Grant Programs Division Deputy Director, the Grantee may appeal the decision, in writing, within 15 days of its issuance (or the expiration of the 30- day period in the event no decision is rendered), to the BSCC Executive Director, who shall have 45 days to render a final decision. If the Grantee does not appeal the decision of the BSCC Corrections Planning and Grant Programs Division Deputy Director, the decision shall be conclusive and binding regarding the dispute and the Contractor shall be barred from commencing an action in court, or with the Victims Compensation Government Claims Board, for failure to exhaust Grantee’s administrative remedies.
B. Pending the final resolution of any dispute arising under, related to or involving this Grant Agreement, Grantee agrees to diligently proceed with the performance of this Grant Agreement, including the providing of services in accordance with the Grant Agreement.
Grantee’s failure to diligently proceed in accordance with the State’s instructions regarding this Grant Agreement shall be considered a material breach of this Grant Agreement.
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EXHIBIT D: SPECIAL TERMS AND CONDITIONS
C. Any final decision of the State shall be expressly identified as such, shall be in writing, and shall be signed by the Executive Director, if an appeal was made. If the Executive Director fails to render a final decision within 45 days after receipt of the Grantee’s appeal for a final decision, it shall be deemed a final decision adverse to the Grantee’s contentions. The State’s final decision shall be conclusive and binding regarding the dispute unless the Grantee commences an action in a court of competent jurisdiction to contest such decision within 90 days following the date of the final decision or one (1) year following the accrual of the cause of action, whichever is later.
D. The dates of decision and appeal in this section may be modified by mutual consent, as applicable, excepting the time to commence an action in a court of competent jurisdiction.
10. UNION ACTIVITIES
For all agreements, except fixed price contracts of $50,000 or less, the Grantee acknowledges that applicability of Government Code §§16654 through 16649 to this Grant Agreement and agrees to the following:
A. No State funds received under the Grant Agreement will be used to assist, promote or deter union organizing.
B. Grantee will not, for any business conducted under the Grant Agreement, use any State property to hold meetings with employees or supervisors, if the purpose of such meetings is to assist, promote or deter union organizing, unless the State property is equally available to the general public for holding meetings.
C. If Grantee incurs costs or makes expenditures to assist, promote or deter union organizing, Grantee will maintain records sufficient to show that no reimbursement from State funds has been sought for these costs, and that Grantee shall provide those records to the Attorney General upon request.
11.WAIVER
The parties hereto may waive any of their rights under this Grant Agreement unless such waiver is contrary to law, provided that any such waiver shall be in writing and signed by the party making such waiver.
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BSCC Powered by Submittable
Title Modesto Police Department
by Michelle Belarmino in Organized Retail Theft
Prevention Grant Program
600 10th Street
Modesto, California
95354
United States
209-572-9614
[email protected]
07/07/2023
id. 41334731
Original Submission 07/07/2023
The Organized Retail Theft (ORT) Prevention Grant Program Application is divided into five (5) sections as identified below:
Background Information Contact Information Program Information Proposal Narrative and Budget Mandatory Attachments Each section has a series of questions requiring a response. Applicants will be prompted to provide written text, select options from a drop down menu, select options from a multiple choice menu, or upload attachments. Questions with a red asterisk require responses.
Applicants will not be able to submit the application until all questions with a red asterisk have been completed. Applicants may reference the ORT Prevention Grant Program Proposal Instruction Packet for background information, key dates, rating factors, and other important information to aid in the completion of the ORT Prevention Grant Program Application. The ORT Prevention Grant Proposal Instruction Packet is available on the Board of State and Community Corrections (BSCC) website. NOTE: Applicants may start and stop their application but must select "Save Draft" at the bottom of the application before existing.
SECTION I -
BACKGROUND
INFORMATION
This section requests information about the applicant’s name, location, mailing address, and tax identification number.
Name of Applicant
(i.e., Police
Department, Sheriff’s
Department, or
Probation
Department)
Modesto Police Department
Multi-Agency
Partnerships
Information (if
applicable)
Applicants may apply for funding as part of a multi-agency partnership (two [2] or more agencies). The agencies and jurisdictions comprising the collaborative application are not required to be contiguous. One (1) Lead Public Agency must be identified on behalf of the partnership.
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Multi-Agency
Partnerships
No: This is not a Multi-Agency Partnership Application
Lead Public Agency
Information
All applicants are required to designate a Lead Public Agency (LPA) to serve as the coordinator for all grant activities. The LPA is a governmental agency with local authority within the applicant's city or county. The applicant may choose to fill the role of LPA itself or it may designate a department, agency, or office under its jurisdiction to serve as the LPA. The role of the LPA is to coordinate with other local government agency partners and non-governmental
organizations to ensure successful implementation of the grant program. The LPA is responsible for data collection and management, invoices, meeting coordination (virtual and/or inperson), and will serve as the primary point of contact with the BSCC.
Lead Public Agency Modesto Police Department
Applicant's Physical
Address
600 10th Street
Modesto
CA
95354
US
Applicant's Mailing
Address (if different
than the physical
address)
600 10th Street
Modesto
CA
95354
US
Mailing Address for
Payment
P.O. Box 642
Modesto
CA
95353
US
Tax Identification
Number
94-6000374
SECTION II -
CONTACT
INFORMATION
This section requests contact information for the individuals identified as the Project Director, Financial Officer, Day-to-Day Project Contact, Day-to-Day Fiscal Contact, and the Authorized Signature.
Project Director Brandon
Gillespie
Project Director's
Title with
Agency/Department/Organization
Chief of Police
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Project Director's
Physical Address
600 10th Street
Modesto
CA
95354
US
Project Director's
Email Address
[email protected]
Project Director's
Phone Number
+12095729501
Financial Officer DeAnna
Christensen
Financial Officer's
Title with
Agency/Department/Organization
Director of Finance
Financial Officer's
Physical Address
1010 10th Street, Suite 5200
Modesto
CA
95353
US
Financial Officer's
Email Address
[email protected]
Financial Officer's
Phone Number
+12095775387
Day-To-Day Program
Contact
Bob
Meredith
Day-To-Day Program
Contact's Title
Lieutenant
Day-To-Day Program
Contact's Physical
Address
600 10th Street
Modesto
CA
95354
US
Day-To-Day Program
Contact's Email
Address
[email protected]
Day-To-Day Program
Contact's Phone
Number
+12096522404
Day-To-Day Fiscal
Contact
Rylee
Silva
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Day-To-Day Fiscal
Contact's Title
Financial Analyst II
Day-To-Day Fiscal
Contact's Physical
Address
1010 10th Street, Suite 5200
Modesto
CA
95353
US
Day-To-Day Fiscal
Contact's Email
Address
[email protected]
Day-To-Day Fiscal
Contact's Phone
Number
+12095775373
Name of Authorized
Officer
Allison
Van Guilder
Authorized Officer's
Title
Deputy City Manager
Authorized Officer's
Physical Address
1010 10th Street, Suite 6100
Modesto
CA
95354
US
Authorized Officer's
Email Address
[email protected]
Authorized Officer's
Phone Number
+12095775228
Authorized Officer
Assurances
checked
SECTION III -
PROGRAM
INFORAMTION
This section requests a Project Title, Proposal Summary description, Program Purpose Area(s) selection, and Scope Funding Category selection.
Project Title Modesto's Retail and Vehicle Theft Program #13..
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Proposal Summary The City of Modesto, through the Modesto Police Department, has developed a program to combat organized retail theft, motor vehicle theft, and motor vehicle accessory theft. Their “Modesto’s Retail and Motor Vehicle Theft Program” implements a 5-pronged approach:
community outreach, collaboration with retailers, leveraging of equipment and technology, use of social media, and directed enforcement. Modesto’s plan capitalizes on experience, capacity, relationships with key stakeholders including allied agencies and the District Attorney’s Office, strong ties with the community and the ability to identify current and emerging trends to rapidly deploy resources.
PROGRAM
PURPOSE AREAS
Applicants must propose activities, strategies, or programs that address the Program Purpose Areas (PPAs) as defined on pages 5 - 8 in the ORT Prevention Grant Proposal Instruction Packet. A minimum of one (1) PPA must be selected; applicants are not required to address all three (3) PPAs. All proposed activities, strategies, or programs must have a link to the ORT Prevention Grant Program as described in the authorizing legislation and the ORT Prevention Grant Proposal Instruction Packet.
Program Purpose
Areas (PPAs):
PPA 1: Organized Retail Theft
PPA 2: Motor Vehicle or Motor Vehicle Accessory Theft
Funding Category
Information
Applicants may apply for funding in a Medium Scope OR Large Scope Category. The maximum an applicant may apply for is up to $6,125,000 in the Medium Scope category OR up to $15,650,000 in the Large Scope category. Applicants may apply for any dollar amount up to and including the maximum grant amount identified in each category. Multi-agency partnerships (determined as Medium Scope OR Large Scope) may apply for up to the maximum grant award in that category, multiplied by the number of partnering eligible applicants. For Example: Four (4) eligible applicants in the Medium Scope category may submit one (1) application for up to $24,500,000 o $6,125,000 (Medium Scope Max) x 4 (# of Agencies) = $24,500,000 Two (2) eligible applicants in the Large Scope category may submit one (1) application for up to $31,300,000 o $15,650,000 (Large Scope Max x 2 (# of Agencies) = $31,300,000 Please reference pages 10-12 in the ORT Prevention Grant Proposal Instruction Packet for additional information.
Funding Category Medium Scope (Up to $6,125,000)
SECTION IV -
PROPOSAL
NARRATIVE AND
BUDGET
This section requests responses to the Rating Factors identified in the the ORT Prevention Grant Program Application Instruction Packet.
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Proposal Narrative
Instructions
The Proposal Narrative must address the Project Need, Project Description, Project Organizational Capacity and Coordination, and Project Evaluation and Monitoring Rating Factors as described in the ORT Prevention Grant Instruction Packet (refer to pages 20-24). A separate narrative response is required for each Rating Factor as described below: The Project Need narrative may not may not exceed 6,711 total characters (includes punctuation, numbers, spacing and any text). In Microsoft Word, this is approximately three (3) pages in Arial 12-point font with one-inch margins on all four (4) sides and at
1.5-line spacing. The Project Description narrative may not may not exceed 11,185 total characters (includes punctuation, numbers, spacing and any text). In Microsoft Word, this is approximately five (5) pages in Arial 12-point font with one-inch margins on all four (4) sides and at 1.5-line spacing. The Project Organizational Capacity and Coordination narrative may not may not exceed 4,474 total characters (includes punctuation, numbers, spacing and any text). In Microsoft Word, this is approximately two (2) pages in Arial 12-point font with one-inch margins on all four (4) sides and at 1.5-line spacing. The Project Evaluation and Monitoring narrative may not may not exceed 4,474 total characters (includes punctuation, numbers, spacing and any text). In Microsoft Word, this is approximately two (2) pages in Arial 12-point font with one-inch margins on all four (4) sides and at 1.5-line spacing. A character counter is automatically enabled that shows the number of characters used and the remaining number of characters before the limit for each response is met. If the character limit is exceeded, a red prompt will appear with the message "You have exceeded the character limit". Applicants will be prohibited from submitting the ORT Prevention Grant Program Application until they comply with the character limit requirements. NOTE: It is up to the applicant to determine how to use the total word limit in addressing each section, however as a guide, the percent of total point value for each section is provided in the ORT Prevention Grant Proposal Instruction Packet (refer to page 15).
Project Need The City of Modesto is the county seat of Stanislaus County and the 19th largest city in California (CA) with a population of just under 220,000 (2020 Census). Easy freeway access, availability of services, retail locations, proximity to large urban areas, and being the “inbetween” stop all lends to opportunity for criminal activity. Modesto has historically experienced revenue challenges coupled with several sustained years of budget reductions, as a result, funding for organized retail theft efforts has been limited, particularly related to equipment and software. This grant funding would positively affect Modesto as the Modesto Police Department (MPD) works to reduce Organized Retail Theft (ORT) and Motor Vehicle and Accessories Theft (MVAT) by providing funds to hire officers for operations on an overtime basis, acquiring needed equipment and software to better accomplish the goals of the grant and the City.
In 2021, Modesto ranked 29th in the nation and 12th in CA for auto thefts according to the National Insurance Crime Bureau (NICB). In #13..
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2019, Modesto ranked 4th in the nation, with rankings of 5th, 7th, and 4th respectively in the preceding three years. Based on recent trends, Modesto expects to break out of the top 20 in the nation in 2023.
Modesto has also experienced a plague of motor vehicle accessory theft, and in some instances, entire vehicle fleets have been victimized in a single night. Caltrans was victimized several times with catalytic converters being stolen over a one-year period, leading to thousands of dollars in damage and lost productivity.
A growing trend in Modesto is ORT. Over a several month span in 2022, the Sunglass Hut in the Vintage Faire Mall was victimized by what appeared to be the same group of three individuals from the bay area on five separate occasions. This group was responsible for over $2 million dollars in stolen sunglasses from Sunglass Huts across CA. The subject group was confronted in Modesto by security outside the Sunglass Hut, so they went to the nearby Macy’s and stole $11,000 in merchandise. MPD detectives took them into custody as they attempted to flee to a stolen car. One individual was also found to be in possession of a stolen firearm.
Later that month, nine Modesto Rite Aid’s and Walgreens were victimized by several out-of-town individuals. They were eventually taken into custody and were in possession of $10,000 in stolen merchandise. Similarly, three individuals repeatedly stole from Dick’s Sporting goods in Modesto. Trackers were placed on suspect vehicles, and they were taken into custody when they returned to Modesto to steal. They had already victimized Marshall’s and Ross earlier that day. In December 2022, local Bev Mo’s experienced multiple overnight burglaries by an organized retail crew of several individuals. They were tracked down to an address in Stockton, CA and eventually, $14,000 in stolen alcohol was returned.
For at least a decade, the Modesto Police Department (MPD) has deployed detectives during the holiday season to our high traffic retail locations. The mission of these operations was to reduce the occurrence of ORT, MVAT, and robbery and send bad guys to jail.
During the 2022 holiday shopping season, the Property Crime Unit (PCU) deployed to retail locations between Thanksgiving and Christmas. PCU coordinated with 10 retail stores during this time to prevent and capture ORT offenders. This resulted in 74 arrests, four recovered stolen vehicles, and more than $44,000 in retail merchandise returned to businesses. This was by far the most arrests than any year prior, by double. Based on the successful coordination and interest by retailers, PCU began coordinating with more retailers, communicating with them regularly, and reached out to the California Organized Retail Crime Association for guidance.
From March to May of 2023, PCU conducted four more operations, coordinating, and collaborating with Burlington Coat Factory, Marshall’s, Target, PetSmart, Best Buy, DSW Shoes, Bed Bath and Beyond, Ross, TJ MAXX, Ulta, and BevMo. The operations resulted in #13..
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26 arrests, two recovered stolen vehicles, and nearly $6,000 in stolen merchandise returned to businesses.
There are many crimes that MPD is not able to solve due to insufficient quality cameras, license plate readers (LPR), access to trackers, funding for operations, staffing to address cases, and delays in getting video evidence.
On May 24, 2023, MPD hosted an organized retail theft meeting with more than 40 representatives of local retail partners. Also invited was the Stanislaus County District Attorney’s Office who spoke to the group about vertical prosecution. Many representatives voiced concerns about the rise in organized retail theft, frustration how it feels nothing can be done, and fear about rising shrinkage numbers (lost merchandise amount for a given retail location), and how that will affect whether stores close. Many community members are also concerned about the potential loss of local jobs. A representative from CVS pharmacy said they were closing a Modesto location because of ORT. Everyone was excited that MPD had made ORT a focus, to hear that MPD and the DA’s office were coordinating more closely, and the plans to increase efforts, primarily through applying for the BSCC ORT Grant Program.
MPD analyzed quantitative/qualitative data from larger retail locations which contain multiple national retail stores. This gives MPD a snapshot of crime and a broad sense of organized retail crime trends. For instance, 3900 Sisk Road in Modesto houses 11 national retailers. MPD databases show an increase of theft incidents by nearly 10%. Similarly, 3401 Dale Road is the location for Vintage Faire Mall with 16 national retailers. In 2021 they reported 193 theft instances, 273 for 2022!
MPD asked retail representatives to provide shrinkage reports for Modesto stores. MPD expected self-reporting to be a more accurate gauge of ORT as retailers often don’t report ORT to police believing they won’t arrive in time, or it will not result in arrest. As of June 24, 2023, eight national retailers provided 2022 shrinkage reports for Modesto. Their losses together amounted to $8.3 million which equals more than $650,000 in lost sales tax revenue. One Target location reports $3.5 million in losses already for 2023, compared to $1.4 million previously. Marshalls is on track for a 50% increase in losses in 2023, experiencing the highest ORT losses of all Marshalls stores from Modesto to Bakersfield. Lowes losses have doubled over last year, with six months left to go. It appears momentum is picking up for 2023, on track to double among these eight locations over 2022.
Project Description The Modesto Police Department (MPD) has a robust proposal to address Organized Retail Theft (ORT) and Motor Vehicle and Accessories Theft (MVAT)that will make a significant, long term, and sustainable impact.
The program proposal includes at least two ORT and MVAT operations each month. These will be large scale operations at retail properties which will require 12 officers to provide enough staff to #13..
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properly run surveillance, coordinate with retailers, conduct uniformed enforcement stops, and transport individuals away after arrest. In previous similar operations, having two stop cars and one transport unit was not sufficient. While stop cars were tied up investigating and transporting, surveillance units were forced to allow some offenders to go because there was no one to make contact.
MPD believes that sufficiently staffing these operations will result in a significantly measurable reduction in theft incidents and will also become a deterrent factor.
Utilizing prior grant funding, the MPD Property Crimes Unit (PCU) deployed near heavy retail locations during the holiday shopping season (Thanksgiving to Christmas) to combat ORT and MVAT. They added one full day on their days off to do the same. On average, the five officers plus one sergeant have worked extra hours on their workdays, and 10 hours overtime on a day off, for the holiday season. To ensure success, another six officers will be hired on overtime to supplement the operation for stop cars and transport those arrested. As the prior grant funding has run out, it is no longer available for the original operations or the expanded ones.
Additionally, the program proposal identifies a need to fund a dedicated Police Civilian Investigator (Investigator) and utilize an existing Crime and Intelligence Analyst (Analyst). The Analyst will coordinate with retailers, extract data from police records, coordinate with outside agencies to share data, and compile what is needed to complete quarterly progress reports to the BSCC. PCU already has one dedicated ORT and MVAT Detective, however, given the robust nature of the proposed program, a dedicated Investigator is needed to supplement to help investigate ORT cases, coordinate with retailers, prepare operational plans, and assist in ensuring intelligence is shared with retailers and Cal-ORCA using biweekly reports.
In summary, MPD’s staffing strategy for this three-year grant program is to add a dedicated Investigator to PCU, operate two (2) 8-hour, 12- person ORT/MVAT operations each month (excluding December), and to continue the highly successful “holiday operations” to combat ORT and MVAT with concentrated operations during the holiday shopping season.
In addition to staffing, there are significant equipment and software needs to help make this proposal successful. Use of cameras and License Plate Readers (LPR’s) have done much to reduce crime and the fear of crime in Modesto. Many ORT and MVAT responsible vehicles have been captured by LPR’s, however, many more have evaded capture. There are currently 13 LPR systems in Modesto which is not sufficient for a city the size of Modesto and for the type of vehicle traffic that travels within and through the city limits.
MPD has identified 25 additional intersections that would greatly benefit from LPRs/cameras. These intersections will give investigators the opportunity to identify offenders that would #13..
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otherwise be missed. These locations are in, around, or near retail locations. MPD also identified the need to purchase overt and covert camera/LPR trailers to quickly deploy to problem areas in places intersection cameras cannot reach. The ability to quickly redeploy these assets when issues arise is incredibly valuable as overt camera trailers, equipped with a camera boom and blinking lights, quickly deter crime. Similarly, covert trailers are information vacuums. They appear to be mundane, not drawing attention of being related to police yet have cameras and LPRs. MPD has identified the need for five overt trailers and five covert trailers.
To aide longer-term investigations, MPD will place covert camera systems on utility poles to help establish pattern of life and/or determining associations for conspiracy. These cameras appear innocent and are not easily identifiable as police equipment, allowing them to provide valuable 24/7 investigative information without placing human resources on scene.
It is important to note that the MPD has policies in place that govern the use of video surveillance systems and those policies will be adhered to in this program. MPD also complies with CA law related to automated license plate recognition systems, pursuant to CA Civil Code 1798.90.5-1798.90.55, 1798.2, and 1798.82. MPD also follows electronic data privacy laws pursuant to PC 1546, PC 502.
Additional police assets like empty police cars or old armored bank vehicles outfitted with police markings and cameras have been used by MPD to dissuade crime. MPD’s PCU have used these assets to deter ORT and auto thieves from certain locations while conducting manned operations in other locations. Additionally, a new bait car is need to combat auto theft and catch offenders in the act without causing hardship to citizens.
The use of magnetic vehicle trackers has been useful in many ORT and MVAT investigations; however, they are often tied up by other investigations. More trackers are needed to accomplish the goals and iPads are needed for tracking in real time. Additionally, it has proven challenging to communicate with multiple retailers during operations. The ability to procure radios and provide them to retailers will enable direct communication between retailers and investigators.
In addition to the equipment mentioned above, there is also a need for software solutions to help realize the goals of this proposal.
Currently, evidence from phones, laptops, and other electronic devices is stored on a hard drive. When evidence is shared with the DA’s office for discovery, the data is transferred to other hard drives and hand delivered. There are products on the market that allow subscribers to download electronic evidence into a cloud-based system. There is no need for a hard drive, and no fear that all the evidence will be lost if the hard drive fails or is lost. Strict logging of access helps maintain the chain of custody and a software solution like this will help expedite ORT and MVAT investigations.
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allows the monitoring of video feeds from multiple public and privately-owned sources, in one place, all in real time. Such a software platform provides the potential for police, retailers, and community members to jointly reduce and prevent crime using realtime information. Detectives intend to leverage the use of such a software system to help identify, prevent, and locate ORT and MVAT offenders.
MPD will implement the above strategies and utilize the identified equipment and technology throughout the duration of the grant program and beyond, as most of the equipment will be used beyond the three years to combat ORT and MVAT. In addition, MPD’s longterm staffing plan includes the embedding of a civilian investigator in each investigative unit and the funding of this proposal will serve to jump start that process; MPD intends to retain the PCU Police Civilian Investigator at the end of the grant term.
The proposed target areas were analyzed utilizing crime mapping software in conjunction with the retailer-provided shrinkage reports, to draw conclusions where most ORT and MVAT were occurring. The first proposed target area is the three-street triangle consisting of the strip mall at 3900 Sisk Road, the Costco and Lowes on Pelandale Avenue, and the Vintage Faire Mall at 3401 Dale Road. In addition, 2001 McHenry Avenue and the 3400 block of McHenry Avenue house many retail locations and will both be target locations. When meeting with community members, it was important to them that MPD not ignore smaller “mom and pop” businesses, considering losses have more serious implications for those businesses and ORTs at smaller businesses also go largely unreported.
MPD currently collaborates with allied agencies like the Stanislaus County Sheriff’s Department and the Stanislaus County District Attorney’s Office. MPD is currently working in conjunction with Deputy District Attorney Timothy Keaton, who is assigned ORT. In addition, MPD has been working with both the Modesto Chamber of Commerce and the Hispanic Chamber of Commerce to build stronger relationships and on the goals of this grant proposal. MPD held meetings with community stakeholders and will continue these engagement efforts by hosting bi-monthly ORT and MVAT meetings with retailers and allied agencies. This will be vital for deployment strategies, preparing reports for the BSCC, and is an important aspect of the MPD’s goal of “Increasing Community Engagement”.
MPD will host several meetings a year, open to the public, with topics on ORT and MVAT – the information flow will go both from the MPD and to the MPD during these meetings and information from the community will be folded into other intelligence sources to help create informed deployment strategies and outreach efforts.
Broadly, the 3-year project goals are: (1) Reduce ORT and MVAT and the fear of ORT and MVAT in the target areas; (2) Build and strengthen communication and relationships with the business community and allied agencies as it relates to ORT and MVAT; and (3) Improve communication to and education of the community related to ORT and MVAT and how to keep themselves and the community #13..
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safe. For Goal 1, the objectives will include reducing ORT by 10% each year, reducing retail shrinkage among the eight original sample retailers by 10% each year, and reducing auto theft and auto accessory theft 5% each year. For Goal 2, the objectives will include hosting quarterly business and community meetings to share current results, provide updates and solicit feedback. For Goal 3, monthly social media posts with updates as well as education will be developed and shared on MPD social media accounts as well as the social media accounts of the business community/chambers of commerce and allied agencies. In addition, MPD PCU will work in conjunction with the PIO to create informational handouts and education concerning ORT and MVAT to provide the public.
Rationale for the proposed project goals and objectives come from similar results from MPD on a larger scale. Modesto experienced a spike in property crimes after 2014 and Modesto was first in the nation for auto thefts (NICB-2015). PCU shifted their focus to be a proactive, undercover, intelligence-led team. By using data to determine where to deploy, provide surveillance, place trackers, and collaborating with other agencies/businesses to reduce crime. By 2018, property crime across the board had been reduced by double digits. This suggests the objective of a 10% a year reduction in ORT each year, and a 5% reduction each year for MVAT reduction is achievable with adequate funding, equipment, and technology.
Project
Organizational
Capacity and
Coordination
As the lead agency, the MPD will provide all programmatic, financial and evaluation oversight. MPD operates under the direction of the Police Chief, Brandon Gillespie, and has proven success overseeing large projects, including Federal and State grants. Over the last ten years, MPD has received and managed millions of dollars in federal and state grant funds including the successful management of six BSCC grants. The management structure of this grant proposal starts with the Chief of Police. From there, in rank order: Captain of Investigations, Lieutenant of Investigations, PCU Supervisor. The functional day-to-day operations will lie with the PCU Supervisor.
Management oversight and fiscal decisions will be handled by the Lieutenant, with expenditures signed-off by the Investigations Captain and Support Division Commander per department policy.
This grant project will be assigned to the Assistant Division Commander (ADC) of MPD’s Investigative Services Division. This position is held by the rank of Lieutenant. Currently the ADC is managing a $4.4 million BSCC CalVIP grant. The project will be managed in conjunction with MPD’s Finance Unit for oversight. The MPD Finance Unit has successfully applied for more than $3 million in grant dollars last year alone and has provided administrative and financial oversight for these same grants in addition to developing, monitoring, and analyzing the departments $75 million annual operating budget. The crime analyst will provide any necessary reports to satisfy reporting to the BSCC. Time allocated to the program will be tracked utilizing the MPD’s scheduling and payroll software.
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The Modesto Police Department (MPD) has the capacity to administer the proposed project utilizing existing Property Crimes Unit (PCU) detectives and Crime and Intelligence Analyst (Analyst), the proposed Police Civilian Investigator (Investigator), and by supplementing with other existing detectives and investigators. The long-term plan of the department includes the embedding of a civilian investigator in each investigative unit and the funding of this proposal will serve to jump start that process; MPD intends to retain the PCU Police Civilian Investigator at the end of the grant program.
Additionally, with the recent passing of a local sales tax measure, the department will work over the term of this grant to secure sufficient funding from that measure to adequately fund overtime for operations and potentially additional positions to continue the fight against ORT and MVAT in Modesto.
All PCU staff have investigatory training. The PCU supervisor was a homicide detective for 12 years prior and has a multitude of professional training through POST. All PCU detectives have attended the ICI basic course or will by the time the program goes live. Two of the five have spent time in narcotics or gang units, with vast experience coordinating with internal and external partners for planned operations. Most of the supplementing manpower of operations come from the MPD Major Crimes Unit (MCU). This fiveperson undercover unit frequently works with PCU. Part of the proposed plan includes annual attendance at Cal-ORCA and/or other ORT and MVAT training.
MPD is partnering with the Stanislaus County DA’s office to collaborate and coordinate efforts in combatting ORT and MVAT. The DA is also submitting a grant application to the BSCC for a dedicated ORT Deputy DA for vertical prosecution. They have partnered in our many meetings with the community and have made themselves available to assist. Without their partnership in this way, MPD’s efforts might not be as successful. Therefore, MPD finds high value in the success of their grant submission. The DA has personally met with MPD and pledged partnership and commitment. MPD will have no contracts or MOU’s with a partnering agency.
The mission of MPD is to drive down crime and improve the quality of life in the City of Modesto. Similarly, two of the City of Modesto’s strategic plan goals are to increase the quality of life and retain economic vitality. The mission of MPD’s program proposal aligns with these tenants and serves to accomplish each. ORT and MVAT affect Modesto’s citizens quality of life, force businesses to cut services or close altogether and increase Modesto’s crimes rates. The Modesto City Council and the Chief of Police support this program and will do so beyond grant funding.
Project Evaluation
and Monitoring
MPD has identified Gary Bess Associates (GBA), located in Lincoln, CA, as our local researcher for this project. GBA previously served in this capacity for several local multi-agency collaborative grants including Stanislaus County’s Edward Byrne Justice Assistance Grant. GBA is familiar with BSCC’s reporting requirements, including #13..
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the requirements for local evaluation plans and local evaluation reports. Specific research design and data collection processes will be identified and implemented during the startup phase to ensure BSCC guidelines, objectives and deliverables are met, and a clear, logical project process evaluation report of implementation and service delivery activities are available at least quarterly to the program’s business partners, allied agencies and the community to document and disseminate best practices and lessons learned.
Process and outcome measures will include the number of retail stores participating, number of operations, estimated value of stolen property recovered, number of arrests specific to the three program purpose areas addressed, crimes intercepted, stolen vehicles recovered, staffing, hours worked, community engagement presentations, social media campaigns for public awareness, number of meetings/trainings with retailers, and cases referred for prosecution.
GBA will be responsible for management of the evaluation process.
This includes (a) determining the process by which data are to be collected and compiled for entry and analysis; (b) compliance with Government Performance and Results Act (GPRA) measures; (c) maintaining the statistical database of descriptive and outcome measures; (d) formatting and presenting aggregated and crosstabulated data as part of a formative review process; (e) advising on changes to the assessment process based on outcomes; and (f) training staff in the use of assessment tools and procedures. The evaluation plan will focus on outcomes associated with the key objectives. GBA will develop monthly dashboard reports for the evaluation review process (brief graphic displays of programmatic and service compliance metrics that compare actual progress against service-unit projections). The easy-to-read summaries of activities help to convey to partners the initiative’s progressive toward attainment of goals. They will document best practices and lessons learned through local analysis, which will then be disseminated throughout the agency, community, and to the BSCC.
GBA will establish a schedule for data to be collected and will regularly review entered data, which can be transferred to GBA’s statistical database. GBA will enter data collected regarding required activities and will provide periodic dashboards/reports showing progress to goals and outcomes. In addition to quantitative data, qualitative data will be collected to assess the implementation of the program. The purpose is to gather qualitative data that can be used to strengthen the developmental process by establishing a constant feedback loop to the MPD and its partners. All quantitative and qualitative data will be used to inform the process so that benchmarks are noted and replication by other programs that follow can base their development on our experience.
GBA, using the collaborative inquiry approach of action research, will work closely with the MPD and their community partners to ensure grant objectives are monitored and reported on frequently #13..
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throughout the life of the grant. Specific research design will be discussed with GBA to ensure BSCC guidelines, objectives and deliverables are met. Any identified modifications that need to be made based off best practices and lessons learned will be revised and implemented to ensure the intended outcomes are met. All data and survey information in the measured outcomes will be provided to the MPD’s grant administrators to complete required BSCC reporting.
Budget Instructions Applicants are required to submit a Proposal Budget and Budget Narrative (Budget Attachment). Upon submission the Budget Attachment will become Section 5: Budget (Budget Tables & Narrative) making up part of the official proposal. The Budget Attachment must be filled out completely and accurately. Applicants are solely responsible for the accuracy and completeness of the information entered in the Proposal Budget and Budget Narrative.
The Proposal Budget must cover the entire grant period. For additional guidance related to grant budgets, refer to the BSCC Grant Administration Guide. The Budget Attachment is provided as a stand-alone document on the BSCC website.
Budget Attachment
Organized-Retail-Theft-Prevention-Grant-Program-Budget-Attachment-Final_07.07.23.xlsx
SECTION V -
ATTACHMENTS
This section list the attachments that are required at the time of submission, unless otherwise noted. Project Work Plan (Appendix B) - Mandatory Grantee Assurance for Non-Governmental Organizations (Appendix D) - Mandatory Local Impact Letter(s) (Appendix E) - Mandatory Letter(s) of Commitment (Appendix F) - If Applicable Policies Limiting Racial Bias - Refer to page 9 of the Proposal Instruction Packet - Mandatory Policies on Surveillance Technology - Refer to page 9 of the Proposal Instruction Packet - If Applicable Certification of Compliance with BSCC Policies on Debarment, Fraud, Theft, and Embezzlement (Appendix G) - Mandatory Governing Board Resolution (Appendix H) - Optional
Project Work Plan (Appendix B)
Project-Work-Plan-ORT.docx
Grantee Assurance for Non-Governmental Organizations (Appendix D) Grantee-Assurance-for-Non-Governmental-Organizations-ORT.pdf Local Impact Letter(s) (Appendix E)
LETTER_OF_IMPACT_-_Senator_Alvarado-Gil.pdf
LETTER_OF_IMPACT_GRANT_MPD_ORT_from_DA.pdf
LETTER_OF_IMPACT_Juan_Alanis.pdf
LETTER_OF_IMPACT_Stanislaus_Latino_Chamber_of_Commerce.pdf LETTER_OF_IMPACT_Stanislaus_Sheriffs.pdf
LETTER_OF_IMPACT_-Supervisor_Mani_Grewal.pdf
Letter(s) of Commitment, (Appendix F)
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Burlington_letter.pdf
Costco_letter.pdf
Dicks_letter.pdf
JC_Penny_letter.pdf
Kohls_letter.pdf
Lowes_letter.pdf
Macys_letter.pdf
Marshall_letter.pdf
Rite_Aid_letter.pdf
Savemart_letter.pdf
Target_letter.pdf
ULTA_Letter.pdf
Victorias_Secret_letter.pdf
Vintage_Faire_letter.pdf
Walgreens_letter.pdf
Policies Limiting Racial Bias
Policy_340_-_Standards_of_Conduct.pdf
Policy_402_-_Bias-Based_Policing.pdf
Policies on Surveillance Technology
Policy_377_-_Public_Safety_Video_Surveillance_System_1.pdf Policy_450_-_Portable_Audio_Video_Recorders.pdf
Policy_812_-_Protected_Information.pdf
Certification of Compliance with BSCC Policies on Debarment, Fraud, Theft, and Embezzlement (Appendix G)
Certification-of-Compliance-with-BSCC-Policies-on-Debarment_-Fraud_-Theft_-andEmbezzlement-ORT_SIGNED.pdf OPTIONAL: Governing Board Resolution (Appendix H)
Resolution_2023-302_-_ORT_Grant.pdf
OPTIONAL:
Bibliography
n/a
CONFIDENTIALITY
NOTICE:
All documents submitted as a part of the Organized Retail Theft Prevention Grant Program proposal are public documents and may be subject to a request pursuant to the California Public Records Act.
The BSCC cannot ensure the confidentiality of any information submitted in or with this proposal. (Gov. Code, § 6250 et seq.) #13..
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Organized Retail Theft Prevention Grant Program
Applicants must complete a Project Work Plan. This Project Work Plan identifies measurable goals and objectives, process and outcome measures, activities and services, responsible parties for those activities and services, data sources and estimated timelines. Completed plans should (1) identify the project’s top goals and objectives; (2) identify how the goal(s) will be achieved in terms of the activities, responsible staff/partners, and start and end dates, process and outcome measures; and (3) provide goals and objectives with a clear relationship to the need and intent of the grant. As this grant term is for three (3) years, the Project Work Plan must attempt to identify activities/services and estimate timelines for the entire grant term. A minimum of one goal and corresponding objectives, process measures, etc. must be identified.
Applicants must use the Project Work Plan provided below. You will be prompted to upload this document to the BSCC-Submittable Application.
(1) Goal: Reduce ORT and MVAT and the fear of ORT and MVAT in the target areas.
Objectives (A., B., etc.) A. Reduce ORT by 10% each year of the grant.
B. Reduce retail shrinkage among the eight original sample retailers by 10% each year.
C. Reduce auto theft and auto accessory theft by 5% each year.
Process Measures and
Outcome Measures:
Number of retail stores participating, number of operations, estimates of stolen property recovered, number of arrests specific to program areas, crimes intercepted, stolen vehicles recovered, staffing, hours worked, cases referred for prosecution
Project activities that support the identified goal and objectives: Responsible staff/partners Timeline Start Date End Date
1. Conduct two, eight-hour, 12-person ORT/MVAT operations each month (Excluding December)
2. Conduct “Holiday Operations” near heavy retail locations between Thanksgiving and Christmas to combat ORT and MVAT.
3. Hire a dedicated Police Civilian Investigator to supplement investigating ORT cases, coordinate with retailers and Cal_ORCA.
4. Procure cameras, LPRs, bait car, Armadillo, trackers and other needed/identified supplies and technology
5. Install all cameras and equipment.
Modesto Police Department –
PCU
1. Year 1, Qtr 1
2. Year 1, Otr 1
3. Year 1, Qtr 2
4. Year 1, Qtr 1
5. Year 1, Qtr 1
1. Year 3, Qtr 4
2. Year 3, Qtr 4
3. Year 1, Qtr 3
4. Year 1, Qtr 4
5. Year 3, Qtr 2
Appendix B: Project Work Plan
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Organized Retail Theft Prevention Grant Program
List data and sources to be used to measure outcomes: MPD databases, DOJ reporting data, and retail shrinkage reports provided by retailers (2) Goal: Build and strengthen communication and relationships with the business community and allied agencies as it relates to ORT and MVAT.
Objectives (A., B., etc.) A. Host bi-monthly business/allied agency meetings to share current results.
B. Provide regular updates to the business community and allied agencies on the progress of the grant activities.
C. Solicit feedback from the business community and allied agencies on perceptions of impact of grant activities.
Process Measures and
Outcome Measures:
Number of community engagement presentations, number of meetings/trainings with retailers and allied agencies, number of retail stores participating
Project activities that support the identified goal and objectives: Responsible staff/partners Timeline Start Date End Date
1. Develop a work plan for integrated educational content to be shared with participating retailers and allied agencies
2. Develop a training program and schedule for retail partners
3. Develop a survey solution to obtain feedback at regular intervals from retail partners
4. Schedule meetings for the duration of the grant program with retail partners and allied agencies
Modesto Police Department,
participating retailers, allied
agencies
1. Year 1, Qtr 1
2. Year 1, Qtr 3
3. Year 1, Qtr 3
4. Year 1, Qtr 1
1. Year 1, Qtr 3
2. Year 1, Qtr 4
3. Year 1, Qtr 4
4. Year 3, Qtr 4
List data and sources to be used to measure outcomes: After action reports and notes will be completed at each bi-monthly retailer and quarterly community meeting, surveys will be provided at given intervals at the retailer meetings to also gauge specific metrics (3) Goal: Improve communication to and education of the community related to ORT and MVAT and how to keep themselves and the community safe.
Objectives (A., B., etc.) A. Post monthly social media messages with updates on the progress/stats of the grant program activities.
B. Post regular public education information/graphics to social media accounts and encourage sharing of content by the business community and allied agencies.
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Organized Retail Theft Prevention Grant Program
C. Coordinate with MPD PIO to create informational handouts and education concerning ORT and MVAT to provide to the public.
D. Host quarterly community meetings to share current results.
Process Measures and
Outcome Measures:
Number of community engagement presentations, number of social media campaigns for public awareness, engagement levels on social media posts (analytics)
Project activities that support the identified goal and objectives: Responsible staff/partners Timeline Start Date End Date
1. Develop a schedule of social media post topics
2. Develop a branding strategy for all ORT/MVAT related messaging
3. Create a master calendar of community meetings/events for the grant period
4. Develop relationships and share resources with allied agencies and retailer’s social media points of contact
Modesto Police Department,
PIO
1. Year 1, Q1
2. Year 1, Q3
3. Year 1, Q2
4. Year 1, Q1
1. Year 1, Q3
2. Year 1, Q 4
3. Year 1, Q3
4. Year 1, Q 2
List data and sources to be used to measure outcomes: social media engagement metrics and analytics, surveys from community meetings to gauge specific metrics, website traffic will be tracked #13..
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Total
$1,518,674.00
$1,047,530.00
$0.00
$0.00
$255,000.00
$3,120,215.00
$20,000.00
$42,000.00
$0.00
$6,003,419.00
Total
$740,119.00
$370,183.00
$364,146.00
$20,349.00
$23,877.00
$0.00
$0.00
$0.00
$1,518,674.00
TOTAL
Organized Retail Theft Prevention Grant Program - Project Budget and Budget Narrative 44-Month Budget: October 1, 2023 to June 1, 2027
Name of Applicant: Modesto Police Department
Budget Line Item
Note: Rows 7-16 will auto-populate based on the information entered in the budget line items (Salaries and Benefits, Services and Supplies, etc.) 100% FTE.
Year 1: Salary: $79,976. Benefits: $31,990. Total: $111,966 Year 2: Salary: $86,507 Benefits: $34,603. Total: $121,110 Year 3: Salary: $93,621. Benefits: $37,448. Total: $131,069 City Electrical Staff - pre-wiring of utility poles for camera installs
1. Salaries & Benefits
4. Non-Governmental Organization (NGO) Subcontracts
6. Equipment/Fixed Assets
7. Financial Audit (Up to $25,000)
8. Other (Travel, Training, etc.)
1a. Salaries & Benefits
Description of Salaries & Benefits (% FTE or Hourly Rate) & Benefits Organized Retail Theft (ORT) & Motor Vehicle &
Accessories Theft (MVAT) Overtime Operations
Hourly Overtime. Two (2) operations per month, eight (8) hours per operation, 11 months each year.
Year 1: 12 Officers (OT hourly rate = $98.80) x 16 hrs/month x 11 months = $208,666. One (1) Sergeant (OT hourly rate:
$119.71) x 16 hrs/month x 11 months = $21,069. TOTAL YEAR 1: $229,735 Year 2: 12 Offciers (OT hourly rate = $105.37) x 16 hrs/month x 11 months = $222,541. One (1) Sergeant (OT hourly rate:
$129.65) x 16 hrs/month x 11 months = $22,818. TOTAL YEAR 2: $245,360 Year 3: 12 Offciers (OT hourly rate = $113.98) x 16 hrs/month x 11 months = $240,726. One (1) Sergeant (OT hourly rate:
$138.06) x 16 hrs/month x 11 months = $24,299. TOTAL YEAR 2: $265,024 Holiday ORT Overtime Operations
Hourly Overtime. Four (4) operations per week, hours per operation vary (3, 6 or 10 hours), 4 weeks each year.
Year 1: 6 Officers (OT hourly rate = $98.80) x 28 hrs/week x 4 weeks = $66,394. 5 Detectives (OT hourly rate = $103.74) x 19 hrs/week x 4 weeks = $39,421. One (1) Sergeant (OT hourly rate: $119.71) x 19 hrs/week x 4 weeks = $9,098.
TOTAL YEAR 1: $114,913
Year 2: 6 Officers (OT hourly rate = $105.37) x 28 hrs/week x 4 weeks = $70,809. 5 Detectives (OT hourly rate = $110.64) x 19 hrs/week x 4 weeks = $42,043. One (1) Sergeant (OT hourly rate: $129.65) x 19 hrs/week x 4 weeks = $9,853. TOTAL YEAR 2: $122,705
Year 3: 6 Officers (OT hourly rate = $113.98) x 28 hrs/week x 4 weeks = $76,595. 5 Detectives (OT hourly rate = $119.68) x 19 hrs/week x 4 weeks = $45,478. One (1) Sergeant (OT hourly rate: $138.06) x 19 hrs/week x 4 weeks = $10,493. TOTAL YEAR 3: $132,565
Police Civilian Investigator
2. Services and Supplies
3. Professional Services or Public Agencies
5. Data Collection and Evaluation
9. Indirect Costs
Hourly Overtime. 3 hours per intersection, total of 25 intersections.
Year 1: 4 City Electrical Staff (OT hourly rate = $65) x 3 hours/intersection x 9 intersections = $7,020 Year 2: 4 City Electrical Staff (OT hourly rate = $68) x 3 hours/intersection x 12 intersections = $9,792 Year 3: 4 City Electrical Staff (OT hourly rate = $74) x 3 hours/intersection x 4 intersections = $3,537 Modesto Police Department staff - install of air
conditioned camera array systems
Hourly Overtime. 3 hours per intersection, total of 25 intersections.
Year 1: 1 Detective (OT hourly rate = $103.74) x 3 hours/intersection x 9 intersections = $2,801. 2 Officers (OT hourly rate = $98.80) x 3 hours/intersection x 9 intersections = $5,335. TOTAL YEAR 1: $8,136 Year 2: 1 Detective (OT hourly rate = $110.64) x 3 hours/intersection x 12 intersections = $3,983. 2 Officers (OT hourly rate = $105.37) x 3 hours/intersection x 12 intersections = $7,587. TOTAL YEAR 2: $11,570 Year 3: 1 Detective (OT hourly rate = $119.68) x 3 hours/intersection x 4 intersections = $1,436. 2 Officers (OT hourly rate = $113.98) x 3 hours/intersection x 4 intersections = $2,736. TOTAL YEAR 3: $4,172 TOTAL
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Total
$45,250.00
$245,700.00
$187,500.00
$40,330.00
$391,250.00
$135,000.00
$2,500.00
$0.00
$1,047,530.00
Description of Professional Service(s) Total
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
3b. Professional Services Narrative
2b. Services and Supplies Narrative:
Calculation for Expenditure
ORT Surveillance Tools
Two-way radios (detectives/investigators to retailers): $100 ea x 12 = $1,200 Vehicle Trackers: $1,095 ea x 6 = $6,570
- Annual service fee for trackers: $540 per tracker x 6 trackers x 3 years = $9,720 iPads to remotely use trackers: $800 ea x 8 = $6,400
- iPad accessories (cases, mounts, keyboards, etc.): $300 x 8 = $2,400 - Monthly cellular service for iPads: $45/month x 39 months x 8 = $14,040 TOTAL
Description of Services or Supplies Calculation for Expenditure Pre-wiring for intersections:
- Data wire: $200 ea x 4 per intersection x 25 intersections = $20,000 - Electrical wire: $150 ea x 3 per intersection x 25 intersections = $11,250 - Electrical boxes/hardware: $400 ea x 1 per intersection x 25 intersections = $10,000 Cabling for covert camera/LPR/sign board set-up: $800 eacg x 5 trailers = $4,000 There are significant equipment and software needs to help make this proposal successful. Use of cameras and License Plate Readers (LPR’s) have done much to reduce crime and the fear of crime in Modesto. To aide longer-term investigations, MPD will place covert camera systems on utility poles to help establish pattern of life and/or determining associations for conspiracy. All of these equipment needs (outlined in the Equipment/Fixed Asset section) require installation and installation requires materials with which to do so. All required installation materials are outlined here.
The use of magnetic vehicle trackers has been useful in many ORT and MVAT investigations; however, they are often tied up by other investigations. More trackers are needed to accomplish the goals and iPads are needed for tracking in real time. Additionally, it has proven challenging to communicate with multiple retailers during operations. The ability to procure radios and provide them to retailers will enable direct communication between retailers and investigators.
There is also a need for software solutions to help realize the goals of this proposal. Currently, evidence from phones, laptops, and other electronic devices is stored on a hard drive. When evidence is shared with the DA’s office for discovery, the data is transferred to other hard drives and hand delivered. There are products on the market that allow subscribers to download electronic evidence into a cloud-based system. There is no need for a hard drive, and no fear that all the evidence will be lost if the hard drive fails or is lost. Strict logging of access helps maintain the chain of custody and a software solution like this will help expedite ORT and MVAT investigations.
An additional software need is a camera integration platform that allows the monitoring of video feeds from multiple public and privately-owned sources, in one place, all in real time. Such a software platform provides the potential for police, retailers, and community members to jointly reduce and prevent crime using real-time information. Detectives intend to leverage the use of such a software system to help identify, prevent, and locate ORT and MVAT offenders.
As the Civilian Investigator position will be a new addition, a laptop computer is needed for functionality for this position.
N/A
Year 1: $125,000
Year 2: $131,250
Year 3: $135,000
3 years: $135,000
DELL Laptop (City contract) - $2,500
TOTAL
$3,276 per year in licensing fees for each 8-camera LPR intersection x 25 intersections = $81,900/year x 3 years = $245,700
3a. Professional Services
2a. Services and Supplies
$7,500 per intersection x 25 intersections = $187,500
Camera integration software solution
Professional installation of LPR 8-camera array systems at intersections
Laptop computer for Civilian Investigator
Electronic evidence management system
Surveillance equipment installation materials
Annual LPR camera licensing fees for each intersection
(8 cameras per intersection)
1b. Salaries & Benefits Narrative:
The Modesto Police Department (MPD), will hire a full time Police Civilian Investigator to investigate ORT cases, coordinate with retailers, prepare operational plans, and assist in ensuring intelligence is shared with retailers and Cal-ORCA wiht bi-weekly reports.
Officers/Detectives and a Sergeant in a combined effort from the Investigative Services Division will deploy a minimum ot twice per month, on 8 hour covert operations, to the target areas to conduct large scale investigations, including surveillance, uniformed enforcement stops, coordinate with retailers to ensure prosecution for charges, and transport those arrested. During the holiday season between Thanksgiving and Christmas, four operations per week will be conducted for a 4 week period.
City of Modesto Electrical staff will be utilized to pre-wire the utility and signal light poles for cameras and LPRs and Modesto Police Department Staff will be utilized to install the air conditioned camera array systems. These systems require air conditioning due to the extreme heat the Central Valley experieinces in the summer months, without the cooling element, the cameras shut down and are of not use during peak summer months.
4a. Non-Governmental Organization (NGO) Subcontracts
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Total
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Total
$255,000.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$255,000.00
Description of Equipment/Fixed Assets Total
$350,000.00
$2,078,500.00
$626,715.00
$50,000.00
$15,000.00
$0.00
$0.00
$0.00
$3,120,215.00
Armored surveillance vehicle (Armadillo)
Stolen vehicle bait car
Covert pole cameras: $14,600 ea x 5 = $73,000
Covert light head cameras: $13,225 ea x 3 = $39,675
Overt camera/LPR boom trailers:
- Cameras: $13,000 ea x 5 - $65,000
- Trailers: $29,028 ea x 5 = $146,040
Covert camera/LPR sign board trailers:
- Cameras: $10,000 ea x 5 = $50,000
- Trailers + shipping + warranty: $50,600 ea x 5 = $253,000 $50,000
$15,000 (vehicle + equipment)
$14,000 ea x 25 intersections = $350,000
Surveillance Camera Systems
TOTALS
6b. Equipment/Fixed Assets Narrative
6a. Equipment/Fixed Assets
Calculation for Expense
LPR Cameras: $6,495 ea x 8 per intersection x 25 intersections = $1,299,000 Camera brackets: $350 ea x 8 per intersection x 25 intersections = $70,000 Communications boxes: $2,895 per intersection x 4 per intersection (2-cameras per box) x 25 intersections = $289,500 Extended warranty: $2,100 ea camera x 8 per intersection x 25 intersections = $420,000 **all items will come from one vendor and be on one invoice Air conditioned complete surveillance camera system (5
camera array + box and wiring) at each intersection
LPR camera systems at each intersection
5a. Data Collection and Evaluation
Calculation for Expense
TOTALS
4b. Non-Governmental Organization (NGO) Subcontracts Narrative N/A
Description of Non-Governmental Organization
(NGO) Subcontracts
Description of Data Collection and Evaluation
Data collection and evaluation to include quarterly
progress reports, statewide evaluation and development
of the Local Evaluation Plan and Report
$85,000 annually x 3 years = $255,000
5b. Data Collection and Evaluation Narrative
Specific research design and data collection processes will be identified and implemented during the startup phase to ensure BSCC guidelines, objectives and deliverables are met, and a clear, logical project process evaluation report of implementation and service delivery activities are available at least quarterly to the program’s business partners, allied agencies and the community to document and disseminate best practices and lessons learned.
Process and outcome measures will include the number of retail stores participating, number of operations, estimated value of stolen property recovered, number of arrests specific to the three program purpose areas addressed, crimes intercepted, stolen vehicles recovered, staffing, hours worked, community engagement presentations, social media campaigns for public awareness, number of meetings/trainings with retailers, and cases referred for prosecution.
All data and survey information in the measured outcomes will be provided to the MPD’s grant administrators to complete required BSCC reporting. An evaluation firm will be selected following the City of Modesto's procurement requirements.
Calculation for Expense
TOTALS
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Total
$20,000.00
$0.00
$0.00
$0.00
$0.00
$0.00
$20,000.00
Total
$36,000.00
$1,500.00
$1,500.00
$3,000.00
$0.00
$0.00
$42,000.00
Grant Funds Total
$0 $0
$0
$0 $0
$0
TOTAL $0 $0
9b. Indirect Costs Narrative:
Many ORT and MVAT responsible vehicles have been captured by LPR’s, however, many more have evaded capture. There are currently 13 LPR systems in Modesto which is not sufficient for a city the size of Modesto and for the type of vehicle traffic that travels within and through the city limits.
MPD has identified 25 additional intersections that would greatly benefit from LPRs/cameras. These intersections will give investigators the opportunity to identify offenders that would otherwise be missed.
These locations are in, around, or near retail locations. MPD also identified the need to purchase overt and covert camera/LPR trailers to quickly deploy to problem areas in places intersection cameras cannot reach. The ability to quickly redeploy these assets when issues arise is incredibly valuable as overt camera trailers, equipped with a camera boom and blinking lights, quickly deter crime. Similarly, covert trailers are information vacuums. They appear to be mundane, not drawing attention of being related to police yet have cameras and LPRs. MPD has identified the need for five overt trailers and five covert trailers.
Additional police assets like empty police cars or old armored bank vehicles outfitted with police markings and cameras have been used by MPD to dissuade crime. MPD’s PCU have used these assets to deter ORT and auto thieves from certain locations while conducting manned operations in other locations. Additionally, a new bait car is need to combat auto theft and catch offenders in the act without causing hardship to citizens.
ICI Core Course for Civilian Investigator Registration, accommodation and per diem ICI Property Crimes Course for Civilian Investigator Registration, accommodation and per diem Basic Crime Analysis Course Registration, accommodation and per diem 8a.Other (Travel, Training, etc.)
Description Calculation for Expense
Annual Retailer Association Conference Registration, accommodation and per diem: $1,500 x 8 personnel x 3 years 7a.Financial Audit
Description Calculation for Expense
Financial audit covering the service delivery period
of the grant (October 1, 2023 - December 31,
2026)
$20,000 based on like audits for other programs in the City of Modesto N/A
Please see instructions tab for additional information regarding Indirect Costs. If the amount exceeds the maximum allowed and/or turns red , please adjust it to not exceed the line-item noted.
For this grant program, indirect costs may be charged using only one of the two options below:
1) Indirect costs not to exceed 10 percent (10%) of the total grant award. Applicable if the organization does not have a federally approved indirect cost rate.
If using Option 1) grant funds allocated to Indirect Costs may not exceed:
2) Indirect costs not to exceed 20 percent (20%) of the total grant award. Applicable if the organization has a federally approved indirect cost rate. Amount claimed may not exceed the organization's federally approved indirect cost rate.
If using Option 2) grant funds allocated to Indirect Costs may not exceed:
TOTAL
7b. Financial Audit) Narrative:
The City of Modesto currently has a contract with an external auditor - Vasquez and Company LLC. The City anticipates a City Auditor will be on board within the next several months - once the City Auditor has been defined, staff will coordinate this audit with the City Auditor to determine if that position will do the audit or if the contract with Vasquex and Company LLC will perform the financial audit of the project financials to ensure compliance with local, State, and Federal laws as required by the BSCC. The audit will cover the service delivery period of the grant - October 1, 2023-December 31, 2026 with the audit report being submitted no later than June 1, 2027.
9a. Indirect Costs
8b. Other (Travel, Training, etc.) Narrative:
All regularly assigned investigative staff should attend the annual state retailers conference - it will aide in building relationships, gaining and sharing insights and knowledge and understanding trends in other parts of CA and how that might impact Modesto.
The new Civilian Investigator should attend both the ICI Core and ICI Property Crimes Courses as part of their education and training to be able to perform the tasks required of them and to aid in the performance of this grant and it's objectives.
While the grant is not funding the Crime Analyst position, since this position will be focused on ORT and MVAT crimes, there is specific training that should be provided to this position to aid in the performance of this grant and it's objectives.
TOTAL
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Office: 832 12th Street, Suite 300 Modesto, CA 95354 Mailing: PO BOX 442 Modesto, CA 95353 Telephone: (209) 525-5550 Fax: (209) 558-4027 www.stanislaus-da.org https://www.facebook.com/StanislausDistrictAttorney/
Office of the District Attorney
Stanislaus County
Jeff Laugero
District Attorney
To: Board of State and Community Corrections
Re: The Organized Retail Theft Prevention Grant Program Date: 06/27/2023
This letter is being submitted to document that the Stanislaus County District Attorney’s Office agrees to partner on the Organized Retail Theft Prevention Grant Program proposal being submitted by the City of Modesto.
As part of this cooperation, the Stanislaus County District Attorney’s Office will assist the Modesto Police Department with investigations and prosecutions related to ORT crimes. Further, the District Attorney’s Office will maintain productive communication and dialogue with the Modesto Police Department to ensure an effective partnership and implementation of successful strategies to protect businesses within our community from ORT crimes.
The Stanislaus County District Attorney’s Office will continue to participate in community and business engagement opportunities sponsored by the Modesto Police Department and other meetings as it relates to ORT crimes.
Regards,
___________________
Jeff Laugero
District Attorney
Assistant District Attorney
Mark Zahner
Chief Deputies
Marlisa Ferreira
Wendell Emerson
Michael D. Houston
Rick Mury
Joseph Chavez
Bureau of Investigation
Chief Terry L. Seese
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To: Board of State and Community Corrections
Re: The Organized Retail Theft Prevention Grant Program Date: 6/15/2023
This letter is being submitted to document that ULTA Beauty agrees to partner on the Organized Retail Theft Prevention Grant Program proposal being submitted by The City of Modesto.
As part of this grant, ULTA Beauty agrees to:
1. Coordinate with the Modesto Police Department during planned operations involving law enforcement and ULTA Loss Prevention personnel.
2. Attend bi-monthly meetings, when able to do so, hosted by the Modesto Police Department in which strategies and trends are shared regarding Organized Retail Theft Prevention. ULTA Beauty will be able to support with sharing ongoing trends and/or groups targeting the locations in the area.
3. Share with Modesto Police Department information regarding Organized Retail Theft trends, offenders, methods, etc. through an ongoing partnerships and communication.
4. Participate in multi-agency, multi-cooperation operations targeting Organized Retail Theft when available.
5. Participate in the prosecution phase of cases and make available representatives to appear in court on your business’ behalf.
6. For years 2020 and 2021 at ULTA Beauty in Modesto, Ca, shrink remained approximately flat with a slight lift in shortage dollars. However, for 2023, shrink is trending 200% up and related to a more blatant disregard. More concerning is the increase in violence with the theft incidents that are occurring in store, creating an unsafe environment for our ULTA associates and other guests in the building or center.
7. ULTA beauty is excited for the continued partnership with the Modesto Police Department to help reduce Organized Retail Theft in the community and for ULTA Beauty. In the past, due to staffing/funding, the ability for the department to support was extremely limited which left the store feel unsupported, unsafe, and frustrated. With this grant, it gives the department the ability to support more often, in not just responding to incidents, but to also conduct preventative measures to send a positive message to the community and set the tone for bad actors attempting to cause losses in the area.
Signed by,
Sabrina Ruiz, Lead Area Loss Prevention Manager
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Policy
402
Modesto Police Department
Modesto PD Policy Manual
Copyright Lexipol, LLC 2023/05/07, All Rights Reserved.
Published with permission by Modesto Police Department
Bias-Based Policing - 1
Bias-Based Policing
402.1 PURPOSE AND SCOPE
This policy provides guidance to department members that affirms the Modesto Police Department's commitment to policing that is fair and objective.
Nothing in this policy prohibits the use of specified characteristics in law enforcement activities designed to strengthen the department's relationship with its diverse communities (e.g., cultural and ethnicity awareness training, youth programs, community group outreach, partnerships). 402.1.1 DEFINITIONS
Definitions related to this policy include:
Bias-based policing - An inappropriate reliance on actual or perceived characteristics such as race, ethnicity, national origin, religion, sex, sexual orientation, gender identity or expression, economic status, age, cultural group, disability, or affiliation with any non-criminal group (protected characteristics) as the basis for providing differing law enforcement service or enforcement (Penal Code § 13519.4).
402.2 POLICY
The Modesto Police Department is committed to providing law enforcement services to the community with due regard for the racial, cultural or other differences of those served. It is the policy of this department to provide law enforcement services and to enforce the law equally, fairly, objectively and without discrimination toward any individual or group. 402.3 BIAS-BASED POLICING PROHIBITED
Bias-based policing is strictly prohibited.
However, nothing in this policy is intended to prohibit an officer from considering protected characteristics in combination with credible, timely and distinct information connecting a person or people of a specific characteristic to a specific unlawful incident, or to specific unlawful incidents, specific criminal patterns or specific schemes.
402.3.1 CALIFORNIA RELIGIOUS FREEDOM ACT
Members shall not collect information from a person based on religious belief, practice, affiliation, national origin or ethnicity unless permitted under state or federal law (Government Code § 8310.3).
Members shall not assist federal government authorities (Government Code § 8310.3):
(a) In compiling personal information about a person’s religious belief, practice, affiliation, national origin or ethnicity.
(b) By investigating, enforcing or assisting with the investigation or enforcement of any requirement that a person register with the federal government based on religious belief, practice, or affiliation, or national origin or ethnicity. #13..
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Modesto Police Department
Modesto PD Policy Manual
Bias-Based Policing
Copyright Lexipol, LLC 2023/05/07, All Rights Reserved.
Published with permission by Modesto Police Department
Bias-Based Policing - 2
402.4 MEMBER RESPONSIBILITIES
Every member of this department shall perform his/her duties in a fair and objective manner and is responsible for promptly reporting any suspected or known instances of bias-based policing to a supervisor. Members should, when reasonable to do so, intervene to prevent any biased-based actions by another member.
402.4.1 REASON FOR CONTACT
Officers contacting a person shall be prepared to articulate sufficient reason for the contact, independent of the protected characteristics of the individual.
To the extent that written documentation would otherwise be completed (e.g., arrest report, field interview (FI) card), the involved officer should include those facts giving rise to the contact, as applicable.
Except for required data-collection forms or methods, nothing in this policy shall require any officer to document a contact that would not otherwise require reporting. 402.4.2 REPORTING TRAFFIC STOPS
Each time an officer makes a traffic stop, the officer shall report any information required in the Traffic Function and Responsibility Policy.
402.4.3 REPORTING OF STOPS
Unless an exception applies under 11 CCR 999.227, an officer conducting a stop of a person shall collect the data elements required by 11 CCR 999.226 for every person stopped and prepare a stop data report. When multiple officers conduct a stop, the officer with the highest level of engagement with the person shall collect the data elements and prepare the report (11 CCR 999.227).
If multiple agencies are involved in a stop and the Modesto Police Department is the primary agency, the Modesto Police Department officer shall collect the data elements and prepare the stop data report (11 CCR 999.227).
The stop data report should be completed by the end of the officer’s shift or as soon as practicable (11 CCR 999.227).
402.5 SUPERVISOR RESPONSIBILITIES
Supervisors should monitor those individuals under their command for compliance with this policy and shall handle any alleged or observed violations in accordance with the Personnel Complaints Policy.
(a) Supervisors should discuss any issues with the involved officer and his/her supervisor in a timely manner.
1. Supervisors should document these discussions, in the prescribed manner. (b) Supervisors should periodically review PVRS/ICCS recordings (portable audio/video recordings), MDC (MDC) data and any other available resource used to document contact between officers and the public to ensure compliance with the policy. #13..
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Modesto Police Department
Modesto PD Policy Manual
Bias-Based Policing
Copyright Lexipol, LLC 2023/05/07, All Rights Reserved.
Published with permission by Modesto Police Department
Bias-Based Policing - 3
1. Supervisors should document these periodic reviews.
2. Recordings or data that capture a potential instance of bias-based policing should be appropriately retained for administrative investigation purposes. (c) Supervisors shall initiate investigations of any actual or alleged violations of this policy. (d) Supervisors should take prompt and reasonable steps to address any retaliatory action taken against any member of this department who discloses information concerning bias-based policing.
402.6 ADMINISTRATION
Each year, Internal Affairs should review the efforts of the Department to provide fair and objective policing and submit an annual report, including public concerns and complaints, to the Chief of Police.
The annual report should not contain any identifying information about any specific complaint, member of the public or officers. It should be reviewed by the Chief of Police to identify any changes in training or operations that should be made to improve service.
Supervisors should review the annual report and discuss the results with those they are assigned to supervise.
402.7 TRAINING
Training on fair and objective policing and review of this policy should be conducted as directed by the Training Unit.
(a) All sworn members of this department will be scheduled to attend Peace Officer Standards and Training (POST)-approved training on the subject of bias-based policing.
(b) Pending participation in such POST-approved training and at all times, all members of this department are encouraged to familiarize themselves with and consider racial and cultural differences among members of this community. (c) Each sworn member of this department who received initial bias-based policing training will thereafter be required to complete an approved refresher course every five years, or sooner if deemed necessary, in order to keep current with changing racial, identity and cultural trends (Penal Code § 13519.4(i)). 402.8 REPORTING TO CALIFORNIA DEPARTMENT OF JUSTICE
The Internal Affairs Unit Sergeant and the Police Civilian Supervisor or the authorized designee shall ensure that all data required by the Department of Justice (DOJ) regarding complaints of racial bias against officers is collected and reported annually to DOJ (Penal Code § 13012; Penal Code § 13020).
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Modesto Police Department
Modesto PD Policy Manual
Bias-Based Policing
Copyright Lexipol, LLC 2023/05/07, All Rights Reserved.
Published with permission by Modesto Police Department
Bias-Based Policing - 4
402.9 REVISIONS
Adopted October 1, 2014
• Revised July 1, 2016
• Revised January 1, 2017
• Revised December 1, 2017
• Revised April 1, 2020
• Revised August 1, 2020
• Revised January 1, 2022
#13..
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Policy
377
Modesto Police Department
Modesto PD Policy Manual
Copyright Lexipol, LLC 2023/05/07, All Rights Reserved.
Published with permission by Modesto Police Department
Public Safety Video Surveillance System - 1
Public Safety Video Surveillance System
377.1 PURPOSE AND SCOPE
This policy provides guidance for the placement and monitoring of department public safety video surveillance, as well as the storage and release of the captured images.
This policy only applies to overt, marked public safety video surveillance systems operated by the Department. It does not apply to mobile audio/video systems, covert audio/video systems or any other image-capturing devices used by the Department. 377.2 POLICY
The Modesto Police Department operates a public safety video surveillance system to complement its anti-crime strategy, to effectively allocate and deploy personnel, and to enhance public safety and security in public areas. Cameras may be placed in strategic locations throughout the City to detect and deter crime, to help safeguard against potential threats to the public, to help manage emergency response situations during natural and man-made disasters and to assist City officials in providing services to the community.
Video surveillance in public areas will be conducted in a legal and ethical manner while recognizing and protecting constitutional standards of privacy.
377.3 OPERATIONAL GUIDELINES
Only department-approved video surveillance equipment shall be utilized. Members authorized to monitor video surveillance equipment should only monitor public areas and public activities where no reasonable expectation of privacy exists. The Chief of Police or the authorized designee shall approve all proposed locations for the use of video surveillance technology and should consult with and be guided by legal counsel as necessary in making such determinations. 377.3.1 PLACEMENT AND MONITORING
Camera placement will be guided by the underlying purpose or strategy associated with the overall video surveillance plan. As appropriate, the Chief of Police should confer with other affected City divisions and designated community groups when evaluating camera placement. Environmental factors, including lighting, location of buildings, presence of vegetation, or other obstructions, should also be evaluated when determining placement.
The cameras shall only record video images and not sound. Recorded images may be used for a variety of purposes, including criminal investigations and monitoring of activity around highvalue or high-threat areas. The public video surveillance system may be useful for the following purposes:
(a) To prevent, deter, and identify criminal activity.
(b) To target identified areas of gang and narcotics complaints or activity. (c) To respond to critical incidents.
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(d) To assist in identifying, apprehending, and prosecuting offenders. (e) To document officer and offender conduct during interactions to safeguard the rights of the public and officers.
(f) To augment resources in a cost-effective manner.
(g) To monitor pedestrian and vehicle traffic activity.
Images from each camera should be recorded in a manner consistent with the underlying purpose of the particular camera. Images should be transmitted to monitors installed in the Watch Commander’s office and Stanislaus Regional 9-1-1. When activity warranting further investigation is reported or detected at any camera location, the available information should be provided to responding officers in a timely manner. The Watch Commander or trained personnel in Stanislaus Regional 9-1-1 are authorized to adjust the cameras to more effectively view a particular area for any legitimate public safety purpose.
The Chief of Police may authorize video feeds from the public safety video surveillance system to be forwarded to a specified location for monitoring by other than police personnel, such as allied government agencies, road or traffic crews, or fire or emergency operations personnel.
Unauthorized recording, viewing, reproduction, dissemination, or retention is prohibited. 377.3.2 CAMERA MARKINGS
All public areas monitored by public safety surveillance equipment shall be marked in a conspicuous manner with appropriate signs to inform the public that the area is under police surveillance. Signs should be well lit, placed appropriately and without obstruction to ensure visibility.
377.3.3 INTEGRATION WITH OTHER TECHNOLOGY
The Department may elect to integrate its public safety video surveillance system with other technology to enhance available information. Systems such as gunshot detection, incident mapping, crime analysis, license plate recognition, facial recognition and other video-based analytical systems may be considered based upon availability and the nature of department strategy.
The Department should evaluate the availability and propriety of networking or otherwise collaborating with appropriate private sector entities and should evaluate whether the use of certain camera systems, such as pan-tilt-zoom systems and video enhancement or other analytical technology, requires additional safeguards.
377.4 VIDEO SUPERVISION
Supervisors should monitor video surveillance access and usage to ensure members are within department policy and applicable laws. Supervisors should ensure such use and access is appropriately documented.
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377.4.1 VIDEO LOG
A log should be maintained at all locations where video surveillance monitors are located. The log should be used to document all persons not assigned to the monitoring locations who have been given access to view or monitor images provided by the video surveillance cameras. The logs should, at a minimum, record the:
(a) Date and time access was given.
(b) Name and agency of the person being given access to the images. (c) Name of person authorizing access.
(d) Identifiable portion of images viewed.
377.4.2 PROHIBITED ACTIVITY
Public safety video surveillance systems will not intentionally be used to invade the privacy of individuals or observe areas where a reasonable expectation of privacy exists.
Public safety video surveillance equipment shall not be used in an unequal or discriminatory manner and shall not target individuals or groups based solely on actual or perceived characteristics such as race, ethnicity, national origin, religion, sex, sexual orientation, gender identity or expression, economic status, age, cultural group, or disability.
Video surveillance equipment shall not be used to harass, intimidate, or discriminate against any individual or group.
377.5 STORAGE AND RETENTION OF MEDIA
All downloaded media shall be stored in a secure area with access restricted to authorized persons. A recording needed as evidence shall be copied to a suitable medium and booked into evidence in accordance with established evidence procedures. All actions taken with respect to retention of media shall be appropriately documented.
The type of video surveillance technology employed and the manner in which recordings are used and stored will affect retention periods. The recordings should be stored and retained in accordance with the established records retention schedule and for a minimum of one year. Prior to destruction, written consent shall be obtained from the City Attorney. If recordings are evidence in any claim filed or any pending litigation, they shall be preserved until pending litigation is resolved (Government Code § 34090.6).
Any recordings needed as evidence in a criminal or civil proceeding shall be copied to a suitable medium and booked into evidence in accordance with current evidence procedures. 377.5.1 EVIDENTIARY INTEGRITY
All downloaded and retained media shall be treated in the same manner as other evidence.
Media shall be accessed, maintained, stored and retrieved in a manner that ensures its integrity as evidence, including strict adherence to chain of custody requirements. Electronic trails, including encryption, digital masking of innocent or uninvolved individuals to preserve anonymity, authenticity certificates and date and time stamping, shall be used as appropriate to preserve #13..
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individual rights and to ensure the authenticity and maintenance of a secure evidentiary chain of custody.
377.6 RELEASE OF VIDEO IMAGES
All recorded video images gathered by the public safety video surveillance equipment are for the official use of the Modesto Police Department.
Requests for recorded video images from the public or the media shall be processed in the same manner as requests for department public records.
Requests for recorded images from other law enforcement agencies shall be referred to the Watch Commander for release in accordance with a specific and legitimate law enforcement purpose.
Recorded video images that are the subject of a court order or subpoena shall be processed in accordance with the established department subpoena process. 377.7 VIDEO SURVEILLANCE AUDIT
The Chief of Police or the authorized designee will conduct an annual review of the public safety video surveillance system. The review should include an analysis of the cost, benefit and effectiveness of the system, including any public safety issues that were effectively addressed or any significant prosecutions that resulted, and any systemic operational or administrative issues that were identified, including those related to training, discipline or policy.
The results of each review shall be appropriately documented and maintained by the Chief of Police or the authorized designee and other applicable advisory bodies. Any recommendations for training or policy should be promptly addressed.
377.8 TRAINING
All department members authorized to operate or access public video surveillance systems shall receive appropriate training. Training should include guidance on the use of cameras, interaction with dispatch and patrol operations and a review regarding relevant policies and procedures, including this policy. Training should also address state and federal law related to the use of video surveillance equipment and privacy.
377.9 REVISIONS
Adopted October 1, 2014
• Revised July 1, 2016
• Revised July 1, 2020
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APPENDIX A: Organized Retail Theft Grant Program Scoring Panel Roster Name Title Organization / Agency
1 Ryan Allain Director Government Affairs, California Retailers Association
2 Chesa Boudin Executive Director Criminal Law & Justice Center – UC Berkeley School of Law
3 Michelle Brown Retired Chief Probation Officer San Bernardino County 4 Derek Casebeer Chief Deputy Sacramento County Probation Department
5 Tracie Cone Public Information Officer Board of State and Community Corrections
6 Jason Craven Officer CA Highway Patrol Organized Retail Crime Task Force & Sacramento County
Auto Theft Suppression Task Force
7 Jason Daughrity Retired CHP Captain Commander of Field Support Section 8 Sandra Dinong Associate Governmental Program
Analyst
Board of State and Community
Corrections
9 Evonne Garner Retired Deputy Director Board of State and Community Corrections
10 Mary Jolls Retired Deputy Director Board of State and Community Corrections
11 Nicole Kirkaldy Restorative Justice and Diversion
Program Director
Yolo County District Attorney's Office
12 Mercedes Morales Associate Governmental Program
Analyst
Board of State and Community
Corrections
13 Ryan Okimura Staff Services Manager I Board of State and Community Corrections
14 Nancy O’Malley Retired District Attorney Alameda County 15 Chelsea Paez Staff Services Manager I Board of State and Community Corrections
16 Bao Phan Associate Governmental Program
Analyst
Board of State and Community
Corrections
17 Rodney Rego Captain Elk Grove Police Department
18 Michelle Solorzano Sr. Project Manager City of El Monte 19 Ashley Taylor Associate Governmental Program
Analyst
Board of State and Community
Corrections
20 Eric Taylor Sheriff San Benito County
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APPENDIX B: Grantee Assurance for Non-Governmental Organizations The Organized Retail Theft Grant Program Request for Proposals (RFP) includes requirements that apply to non-governmental organizations (NGOs)1 providing services with grant funds. Grantees are responsible for ensuring that all contracted third parties continually meet these requirements as a condition of receiving funds. The RFP describes these requirements as follows:
Any non-governmental organization that receives Organized Retail Theft Grant Program Grant funds (as either a subgrantee or subcontractor) must:
• Have been duly organized, in existence, and in good standing for at least six (6) months prior to the effective date of its fiscal agreement with the BSCC or with the Organized Retail Theft Grant Program grantee;
o Non-governmental entities that have recently reorganized or have merged with other qualified non-governmental entities that were in existence prior to the six (6) month date are also eligible, provided all necessary agreements have been executed and filed with the California Secretary of State prior to the start date of the grant agreement with the BSCC or the start date of the grantee subcontractor fiscal agreement; • Be registered with the California Secretary of State’s Office, if applicable; • Have a valid Employer Identification Number (EIN) or Taxpayer ID (if sole proprietorship); • Have a valid business license, if applicable;
• Have no outstanding civil judgments or liens;
• Have any other state or local licenses or certifications necessary to provide the services requested (e.g., facility licensing by the Department of Health Care Services), if applicable; and • Have a physical address within California. (An agent for service of process with a California address is insufficient.)
Completing the NGO Assurance (Following Page)
1. Provide the name of the Applicant Agency (the Grantee),
2. List all contracted parties (if known),
3. Check Yes or No to indicate if each contracted part meets the requirements
4. Sign and Submit to the BSCC
NOTE: If the name of the contracted party is unknown or if there will be no contracted parties. Write N/A in the “Name of Contracted Party” field and sign the document. 1 For the purposes of this RFP, NGOs include nonprofit and for-profit community-based organizations, faith-based organizations, evaluators (except government institutions such as universities), grant management companies, and any other non-governmental agency or individual. #13..
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