Agenda packet — Modesto City Council, February 25, 2025 (part 1 of 6)

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MODESTO CITY COUNCIL
www.modestogov.com
AGENDA
City of Modesto

CITY COUNCIL MEETING
Chambers, Basement Level
Tenth Street Place, 1010 10th Street
Modesto, California
Tuesday, February 25, 2025 at 5:30 PM
Roll Call - Councilmembers Alvarez, Bavaro, Escutia-Braaton, Ricci, Williams, Wright, Mayor Zwahlen
* Public Comment will only be in-person. Members of the public who wish to address the Council, by providing public comment, during the meeting must do so in-person in the Council Chambers.

As an alternative, members of the public may also provide written public comment submitted via email as indicated in the Submitting Comments by Email instructions on this agenda. Zoom will still be available for viewing and Wordly translation.
*Members of the public will be allowed to provide public comment through Zoom if a Councilmember is participating remotely pursuant to the provisions of Assembly Bill 2449. *Effective March 1, 2023, if a technical issue arises with Zoom or the phone dial-in option, the Council meeting will continue unless the meeting is being held pursuant to the provisions of Assembly Bill 2449. Alternative viewing options are listed below, and the meeting is physically open to the public.
“Wordly” can translate into 25+ different languages! To access written translation during the meeting, please scan the QR Code or click this link https://attend.wordly.ai/join/RJDY-6364.
"Wordly" puede traducir a más de 25 idiomas diferentes! Para acceder a la traducción durante la reunión, por favor escanee el código QR o haga clic en el enlace https://attend.wordly.ai/join/RJDY-6364.
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You may observe a livestream of the meeting at http://media.modestogov.com. You may also view or listen to the meeting as indicated below.

THE MEETING CAN BE VIEWED BY ZOOM VIDEO

CONFERENCING OR TELEPHONE
Joining the City Council meeting via Zoom
The City of Modesto is now offering the ability to view Council meetings via telephonic conferencing via “Zoom” video conferencing computer technology. The meeting may be accessed through the use of Zoom using the following options:
 Enter the following link into an Internet Browser
https://us02web.zoom.us/j/95895497651
 Enter the following link into an Internet Browser https://zoom.us/ and using the Webinar ID: 958 9549 7651
 Passcode: 84326
To use Zoom, please visit: https://zoom.us/ and either sign-up for a free Zoom account or continue as a guest. Once you have downloaded the app onto your mobile device, joined from your web browser, or downloaded the Zoom software on your computer you will be ready for the upcoming Council meeting.

Joining the City Council meeting via Telephone
If you don’t have a smart phone or computer to access the meeting via Zoom, you can listen by phone, by calling 1-877-853-5257 (Toll Free) or 1-888-475-4499 (Toll Free) and enter the Webinar ID: 958 9549 7651 Passcode: 84326

SUBMITTING COMMENTS BY E-MAIL
Written comments may be submitted via email to: [email protected] (include Agenda Item Number in the subject line). All comments will be shared with the Councilmembers and placed in the record but will not be read aloud during the meeting. Written comments must be received two hours before the meeting.

This Agenda is on file in the City Clerk’s Office, Sixth Floor, 10th Street Place, Posting Board at entry of 10th Street Place, and is available on the City’s Web site at www.modestogov.com.

Materials related to an item on this Agenda submitted to the Council after distribution of the agenda packet are available for public inspection in the Clerk’s office during normal business hours. Such documents are also available online, subject to staff’s ability to post the documents before the meeting, at the following website https://www.modestogov.com/council-meetings In accordance with the requirements of Title II of the Americans with Disabilities Act (“ADA”) of 1990, the Fair Employment & Housing Act (“FEHA”), the Rehabilitation Act of 1973 (as amended), Government Code section 11135 and other applicable codes, the City of Modesto (“City”) will not discriminate against individuals on the basis of disability in the City’s services, programs, or activities. For more information, please visit the City of Modesto website at https://www.modestogov.com/865/Americans-with-Disabilities-Act-ADA - 2 -
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In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the City Clerk (209) 577-5396. Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting.

Pledge of Allegiance to the Flag
Invocation: Jeff Pishney, Love Stanislaus County
City Clerk’s Announcements
Declaration of Conflicts of Interest
Reports from Closed Session

ACKNOWLEDGEMENTS AND PRESENTATIONS

1. Proclamation declaring March as National Women's History Month. (Funding Source:

Not Applicable)
CITY COUNCIL; Breanna Griffin, 209-577-5421, [email protected]

2. Presentation of Award from National Town Watch Association for the City of Modesto's participation in National Night Out 2024. (Funding Source: Not Applicable) POLICE DEPARTMENT; Charlene Aragon, 209-342-9175, [email protected]

MISCELLANEOUS
Legislation, Appointments, Other

3. Consider accepting the resignations of Austin Grant and Joel Campos from the City of Modesto’s Equity Commission. (Funding Source: Not Applicable) Staff Recommendation:
 Resolution accepting the resignations of Austin Grant and Joel Campos from the City of Modesto’s Equity Commission.

HUMAN RESOURCES; Christina Alger, 209-571-5126, [email protected]

PUBLIC COMMENT IN PERSON
Three-minute time limit per speaker.

Only interested persons in the audience may present these matters. Under State law, Councilmembers may respond to matters being presented under this item only as follows:
a. Briefly respond to statements made or questions raised. b. Ask a question for clarification.
c. Provide a reference to staff or other resources for factual information. d. Request staff to report back at a subsequent meeting. e. Finally, a Councilmember or the Council itself may take action to direct staff to place a matter of business on a future agenda.
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CONSENT ITEMS – ROLL CALL VOTE REQUIRED
Information concerning the consent items listed below has been forwarded to each Councilmember prior to this meeting for study. Unless some member of the audience or Councilmember has a question concerning an item and asks that it be withdrawn from the consent list, the Council approves the items at one time. The action taken by the Council in approving consent items is set forth in the explanation of this individual item.

CONSENT
An item may be removed from consent and discussed at the request of an audience member or Council member.

Consent

4. Consider approving the minutes for the February 4, 2025 Council Meeting. (Funding Source: Not Applicable)
Staff Recommendation:
 Motion approving the minutes for the February 4, 2025 Council Meeting.

CITY CLERK; Diane Nayares-Perez, 209-577-5396, [email protected] Consent

5. Consider directing staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for City of Modesto Landscape Maintenance Assessment District No. 1 (Dry Creek Meadows Subdivisions Nos. 1-6). (Funding Source: Landscape Maintenance Assessment District No. 1)
Staff Recommendation:
 Resolution directing staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for City of Modesto Landscape Maintenance Assessment District No. 1 (Dry Creek Meadows Subdivisions Nos. 1-6).

CED; Edgar Garcia, 209-577-5211, [email protected] Consent

6. Consider directing staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for City of Modesto Landscape Maintenance Assessment District No. 2 (Dry Creek Meadows Subdivisions Nos. 7-10, Creekwood Meadows Subdivision and Yosemite Meadows Subdivisions Units 1 and 2). (Funding Source: Landscape Maintenance Assessment District No. 2)
Staff Recommendation:
 Resolution directing staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for City of Modesto Landscape Maintenance Assessment District No. 2 (Dry Creek Meadows Subdivisions Nos. 7-10, Creekwood Meadows Subdivision and Yosemite Meadows Subdivisions Units 1 and 2).

CED; Edgar Garcia, 209-577-5211, [email protected] - 4 -
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Consent

7. Consider directing staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for City of Modesto Shackelford Landscape and Lighting District (Funding Source: Shackelford Landscape and Lighting District)
Staff Recommendation:
 Resolution directing staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for City of Modesto Shackelford Landscape and Lighting District.

CED; Edgar Garcia, 209-577-5211, [email protected] Consent

8. Consider approving the submission of the City’s Local Transportation Funds Fiscal Year 2023-24 and 2024-25 Claim for Non-Motorized and Other Purposes (bike lanes and pedestrian pathways) in the amount of $487,911, to the Stanislaus Council of Governments (StanCOG). (Funding Source: Local Transportation Funds) Staff Recommendation:
 Resolution approving the submission of the City’s Local Transportation Funds Fiscal Year 2023-24 and 2024-25 Claim for Non-motorized and Other Purposes (bike lanes and pedestrian pathways) in the amount of $487,911 to the Stanislaus Council of Governments (STANCOG) and authorizing the City Manager, or his designee, to take the necessary steps to implement the provisions of this Resolution.
 Resolution amending the Fiscal Year 2024-2025 Capital Improvement Program Budget to fund project #100813 (Virginia Corridor Phase VII) in an amount not to exceed $645,521 in transfers, revenue, and to budget expenditures to fund the project, and authorizing the City Manager or his designee, to implement the provisions of this Resolution.

ENGINEERING SERVICES; Nathan Houx, 209-571-5526, [email protected] Consent

9. Consider accepting the Empire Yosemite Boulevard Water Main Crossings Strengthen & Replace Project as complete, releasing securities, releasing payments totaling $1,125,289 to DDS Company, doing business as (DBA) Knife River Construction, of Stockton, CA, and authorizing the City Clerk to file a Notice of Completion. (Funding Source: Water Fund)
Staff Recommendation:
 Resolution accepting the Empire Yosemite Boulevard Water Main Crossings Strengthen & Replace Project as complete, releasing securities, releasing payments totaling $1,125,289 to DDS Company, doing business as (DBA) Knife River Construction, of Stockton, CA, and authorizing the City Clerk to file a Notice of Completion.

ENGINEERING SERVICES; Peter Kambel, 209-577-5444, [email protected] Consent

10. Consider accepting the Park Turf Reduction Phase I Project as complete, releasing securities, releasing payments totaling $345,092 to Marina Landscape, Inc., of Orange, - 5 -
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CA, and authorizing the City Clerk to file a Notice of Completion. (Funding Source:

American Rescue Plan Act (ARPA), Urban Community Drought Relief Grant Program)
Staff Recommendation:
 Resolution accepting the Park Turf Reduction Phase I Project as complete, releasing securities, releasing payments totaling $345,092 to Marina Landscape, Inc., of Orange, CA., and authorizing the City Clerk to file a Notice of Completion.

ENGINEERING SERVICES; Pete Kambel, 209-577-5444, [email protected] Consent

11. Consider accepting the Sutter Trunk Rehabilitation Phase 2 Project as complete, releasing securities, releasing payments totaling $5,335,597 to A. Teichert & Son, Inc., doing business as (DBA) Teichert Construction, of Roseville, CA, and authorizing the City Clerk to file a Notice of Completion. (Funding Source: Wastewater Fund) Staff Recommendation:
 Resolution accepting the Sutter Trunk Rehabilitation Phase 2 Project as complete, releasing securities, releasing payments totaling $5,335,597 to A.

Teichert & Son, Inc., DBA Teichert Construction, of Roseville, CA, and authorizing the City Clerk to file a Notice of Completion.

ENGINEERING SERVICES; Pete Kambel, 209-577-5444, [email protected] Consent

12. Consider accepting the Monthly Investment Report for December 2024. (Funding Source: Various Funds)
Staff Recommendation:
 Motion accepting the Monthly Investment Report for December 2024.

FINANCE DEPARTMENT; Calogero Maniscalco, 209-577-5219,
[email protected]
Consent

13. Consider accepting an Informational Report on the November and December 2024 Grant Applications and Awards. (Funding Source: Not Applicable) Staff Recommendation:
 Motion accepting an Informational Report for November and December 2024, Grant Applications and Awards.

FINANCE DEPARTMENT; Maria Garnica, 209-577-5249,
[email protected]
Consent

14. Consider approving the Audited Financial Statements and various Audit Reports for Fiscal Year 2023-2024, audited by external auditor Vasquez & Company, LLP. for the City’s Annual Comprehensive Financial Report (ACFR), thirteen Community Facilities Districts (CFDs), Measure H, Single Audit, and various Joint Powers Agencies. (Funding Source: Not Applicable)
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Staff Recommendation:
 Resolution approving the Audited Financial Statements and various Audit Reports for Fiscal Year 2023-2024 audited by external auditors Vasquez & Company, LLP. for the City’s Annual Comprehensive Financial Report (ACFR), thirteen Community Facilities Districts (CFDs), Measure H and various Joint Powers Agencies (JPAs).
 Resolution approving the audited Fiscal Year 2023-2024 Federal Single Audit report for the City of Modesto from external auditors Vasquez & Company, LLP.

FINANCE DEPARTMENT; Maria Garnica, 209-577-5249,
[email protected]
Consent

15. Consider approving the Purchasing Agreements for the purchase of Transit Motor Parts with Gillig (LLC) Limited Liability Company, Hayward, CA, and Fleet Motor Parts and Services with Municipal Maintenance Equipment (MME), Sacramento, CA for a total amount not to exceed $3,575,000. (Funding Source: Fleet Fund and Stanislaus Regional Transit Authority)
Staff Recommendation:
 Resolution approving the Purchasing Agreement for the purchase of Transit Motor Parts with Gillig LLC, Hayward, CA, for a two-year Agreement with three one-year extension options, for an annual estimated amount of $385,000 and a total amount not to exceed $1,925,000 over five years; and authorizing the City Manager or his designee to execute the Agreement.  Resolution approving the Purchasing Agreements for the purchase of parts and repair services with Municipal Maintenance Equipment, Sacramento, CA for a two-year Agreement with three one-year extension options, for an annual combined estimated amount of $330,000 and a total amount not to exceed $1,650,000 over five years; and authorizing the City Manager or his designee to execute the Agreements.

FINANCE DEPARTMENT; Dianne Love, 209-571-5164, [email protected] Consent

16. Consider approving the First Amendment with Neil Sullivan LLC, Concord, California for Executive Team and Management Engagement Services increasing the Agreement amount to $50,000. (Funding Source: Various Funds)
Staff Recommendation:
 Resolution approving the First Amendment with Neil Sullivan LLC, Concord, California for Executive Team and Management Engagement Services increasing the Agreement amount by $50,000 to a new total amount of $200,000 through the term of the Agreement; and authorizing the City Manager or his designee to execute the Amendment.

FINANCE DEPARTMENT; Dianne Love, 209-571-5164, [email protected] - 7 -
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Consent

17. Consider approving the Agreements with Bolt Staffing Service, Inc., Stockton, CA and Tryfacta, Inc., Stockton, CA for the furnishing of Temporary Staffing Services, for a total amount not to exceed $2,596,340 over five years. (Funding Source: Various Funds)
Staff Recommendation:
 Resolution approving the Agreements for the furnishing of Temporary Staffing Services with Bolt Staffing Service, Inc., Stockton, CA, for a two-year agreement with three one-year extension options, for an annual combined estimated amount of $519,268 and a total combined amount not to exceed $2,596,341 over five years and authorizing the City Manager or his designee to execute the Agreements.

HUMAN RESOURCES; Christina Alger, 209-571-5126, [email protected] Consent

18. Consider approving establishing the creation of a new fund to track the Opioids Settlement Proceeds and Opioids Spending Plan as defined by the State of California Department of Health Care Services (DHCS). (Funding Source: Settlement Proceeds) Staff Recommendation:
 Resolution approving the creation of a new Fund, 1890 – Opioid Settlements Fund, to track the Opioids Settlement Proceeds and Opioids Spending Plan as defined by the State of California Department of Health Care Services (DHCS).  Resolution approving an amendment to the Fiscal Year 2024-2025 Multi-Year Operating Budget to fund Project 101646 – Opioid Settlement Funds in the amount of $1,728,302 to increase expenditures and recognize revenue for the Opioids Spending Plan based upon the settlement amounts.

POLICE DEPARTMENT; Chris Adams, 209-572-9500, [email protected] Consent

19. Consider approving the First Amendment with Audeamus DBA Sebastian, Fresno, CA, for the Building Intrusion Alarm Services, increasing the Agreement for a total amount not to exceed $206,694 over five years. (Funding Source: Building Maintenance Fund) Staff Recommendation:
 Resolution approving the First Amendment with Audeamus DBA Sebastian, for the Building Intrusion Alarm Services, increasing the Agreement amount by $122,696 for a new total amount not to exceed $206,694; and authorizing the City Manager, or his designee to execute the Amendment.

PUBLIC WORKS; Gabe daSilva, 209-342-2281, [email protected] Consent

20. Consider approving an Agreement with Carollo Engineers, Inc., Sacramento, CA for Standard Operating Procedures Development and Gap Analysis Services for a total amount not to exceed $801,220. (Funding Source: Sewer Operations Fund) Staff Recommendation:
 Resolution approving an Agreement with Carollo Engineers, Inc., Sacramento, CA, for Standard Operating Procedures Development and Gap Analysis - 8 -
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Services in the amount of $728,382, plus $72,838 in additional services, if needed, for a total amount not to exceed $801,220; and authorizing the City Manager, or his designee, to execute the Agreement.
 Resolution amending the Fiscal Year 2023-2024 Non-Capital Improvements Program budget to increase Project Number 101474 - SOP Development by $401,220, from $400,000, for a revised total amount not to exceed $801,220, in transfers, revenue, and discretionary expenditures, and authorizing the City Manager, or his designee, to implement the provisions of this Resolution.

UTILITIES; Jeff Daniels, 209-577-6255, [email protected]

COUNCIL COMMENTS & REPORTS

CITY MANAGER COMMENTS & REPORTS

HEARINGS
Published in the Modesto Bee on February 14, 2025. - Item requested to be continued to March 11, 2025 Council meeting.

21. Hearing to consider approving an application for a Conditional Use Permit and Operating Agreement by Outfront Media to allow a digital freeway billboard located on the east side of State Highway 99 and south of Evergreen Avenue, located at 2024 W. Orangeburg Avenue. (Funding Source: Application Fee) Staff Recommendation:
 Motion to continue item to March 11, 2025.

CED; Edwin Borquez, 209-577-5516, [email protected]

MATTERS TOO LATE FOR THE AGENDA
These may be presented by members of the City Council and staff upon determination by a majority vote that an emergency exists, as defined by State law, or by a 2/3 vote that (1) there is a need to take immediate action, and (2) that the need for action came to the City’s attention after the agenda was posted.

ADJOURNMENT
Posted pursuant to Government Code Section 54954.2 on the bulletin board at Tenth Street Place on
at by
date time signature
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CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

February 25, 2024
Date: January 16, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Christina Alger, Director of Human Resources
SUBJECT: Equity Commission Resignations
CONTACT: Christina Alger, Director of Human Resources
[email protected], 209-571-5126
DESCRIPTION:

Consider accepting the resignations of Austin Grant and Joel Campos from the City of Modesto’s Equity Commission. (Funding Source: Not Applicable)
STRATEGIC PLAN ELEMENT:

This item supports the City Council’s 2020-2025 Strategic Plan, Goal I: Promote Trust and Engagement.

BACKGROUND:

In support of the Diversity, Equity and Inclusion Program, the Equity Commission was established to advise the City Manager and the City Council in matters that relate to diversity, equity and inclusion, and disability regarding the workforce and services provided to the community.

DISCUSSION:

On January 10, 2023, by Resolution No 2023-01, Austin Grant and Joel Campos were appointed to the Equity Commission with a term expiration date of January 1, 2027. On December 16, 2024, Austin Grant formally resigned from the Equity Commission. On January 3, 2025, Joel Campos formally resigned from the Equity Commission.

FISCAL IMPACT:

There is no fiscal impact related to this action.

COMMITTEE RECOMMENDATION:

This item was not reviewed by a Council Committee as resignations from Committees and Commissions are considered by Council directly.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution accepting the resignations of Austin Grant and Joel Campos from the City of Modesto’s Equity Commission.
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City Council Agenda Report, February 25, 2025
Equity Commission Resignations

Page 2 of 2 ends

Approved by:

Christina Alger, Director of Human Resources
Joseph P. Lopez, City Manager
Attachments:

1. Resolution-Resignations of Equity Commissioners Grant and Campos

2. Resolution 2023-01-Equity Commission Appointments
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1 <Clerk Fill in Reso Number>

MODESTO CITY COUNCIL
RESOLUTION NO. 2025 -

RESOLUTION ACCEPTING THE RESIGNATIONS OF AUSTIN GRANT
ANDJOELCAMPOSFROM THE CITY OF MODESTO’S EQUITY

COMMISSION
WHEREAS, the Equity Commission was established to advise the City Manager and the City Council in matters that relate to equity and inclusion, equal opportunity, and disability related issues, and
WHEREAS, on January 10, 2023, by Resolution No. 2023-01, Austin Grant and JoelCamposwere appointed to serve as members of the Equity Commission, and WHEREAS, Austin Grant and Joel Campos have tendered their resignations from the Equity Commission effective December 16, 2024 and January 3, 2025 respectively.

NOW, THEREFORE, BE IT RESOLVED that the Council of the City of Modesto hereby accepts the resignations of Austin Grant and Joel Camposfrom the Equity Commission with regret.
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2 <Clerk Fill in Reso Number>
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 25th day of February, 2025 by <Clerk Fill in Council Member>, who moved its adoption, which motion being duly seconded by <Clerk Fill in Council Member>, was upon roll call carried and the resolution adopted by the following vote:

AYES: Councilmembers: <Clerk Fill in Council Members>
NOES: Councilmembers: <Clerk Fill in Council Members>
ABSENT: Councilmembers: <Clerk Fill in Council Members> ATTEST:

DIANE NAYARES-PEREZ,
CMC,City Clerk
(SEAL)
APPROVED AS TO FORM:

BY:

JOSE M. SANCHEZ, City Attorney
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01/10/2023/HR/CAlger/Item 03 1 2023-01

MODESTO CITY COUNCIL
RESOLUTION NO. 2023-01

RESOLUTION APPROVING THE APPOINTMENTS OF AUSTIN GRANT AND

JOEL CAMPOS TO THE EQUITY COMMISSION WITH A TERM
EXPIRATION OF JANUARY 1, 2027
WHEREAS, the Affirmative Action Commission of the City of Modesto was established pursuant to the provisions of the Affirmative Action Program established by Modesto City Council Resolution No. 87-237 on April 7, 1987; and WHEREAS, with the passage of Proposition 209, the City reviewed its employment policies, affirmative action policies and other relevant policies and procedures and amended them as necessary to comply with Proposition 209; and WHEREAS, as part of the compliance effort, the Commission retitled from the Affirmative Action Commission to Equal Opportunity and Disability Commission by Resolution No. 98-134; and
WHEREAS, with the creation of the Diversity, Equity, and Inclusion Program which includes Equal Opportunity and Disability accessibility; and WHEREAS, City staff retitled and repurposed the Equal Opportunity/Disability Commission to the Equity Commission and amended Article II Duties by Resolution No. 2022-054; and
WHEREAS, the Equity Commission is established to advise on matters of diversity, equity, and inclusion; and
WHERAS, the Appointments Committee met on December 12, 2022 and recommended the appointments of Austin Grant and Joel Campos to the Equity Commission.
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MODESTO CITY COUNCIL
www.modestogov.com

MINUTES
City of Modesto

CITY COUNCIL MEETING
Chambers, Basement Level
Tenth Street Place, 1010 10th Street
Modesto, California
Tuesday, February 04, 2025 at 5:30 PM
Special City Council - Closed Session Meeting 4 p.m.:

Roll Call – Present: Councilmembers Alvarez (Arrived 4:01 P.M.), Bavaro, Escutia-Braaton, Ricci, Williams, Wright, Mayor Zwahlen

Absent: None
Regular City Council Meeting, 5:30 p.m.:

Roll Call – Present: Councilmembers Alvarez (left at 6:00 P.M.), Bavaro, Escutia-Braaton, Ricci, Williams, Wright, Mayor Zwahlen

Absent: None
Pledge of Allegiance to the Flag
Invocation: Andrew Sampson, Modesto Church of the Brethren City Clerk’s Announcements: None
Declaration of Conflicts of Interest:

Item 11 – Mayor Zwahlen, and Councilmember Escutia-Braaton recused.

Reports from Closed Session:

City Attorney Sanchez reported that the property negotiation item related to 1000 L Street was taken off the agenda, for all remaining items there was no reportable action. #4..
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MISCELLANEOUS

1. Consider accepting the resignation of Jennifer Barillas from the Audit Committee. (Funding Source: Not Applicable)
Staff Recommendation:
 Resolution accepting the resignation of Jennifer Barillas from the Audit Committee.

FINANCE DEPARTMENT; DeAnna Christensen, 209-577-5387,
[email protected]
ACTION: (Wright/Williams; 7/0) Resolution 2025-050 accepting the resignation of Jennifer Barillas from the Audit Committee.

PUBLIC COMMENT IN PERSON
 Diane Kroeze addressed the Council, expressing concerns about the homelessness crisis, particularly how severe weather conditions are affecting those without shelter.

She noted that many homeless individuals are seeking refuge near the Salvation Army, as it is one of the few safe locations available. She also raised concerns about immigration enforcement, specifically the treatment of non-criminal individuals being detained and removed. She urged the Council to take a stand, by issuing a proclamation or making a statement in support of fair treatment for all people, regardless of race, nationality, or background.
 Milton Wheeler emphasized the importance of conserving Stanislaus County’s natural resources, particularly its farmland. He expressed concern that the region, which has some of the best agricultural land in the world, is at risk due to urban sprawl and poor resource management. He urged the Council to prioritize sustainability for future generations by preserving water, air, and soil quality. Wheeler also warned that California will need to fallow significant farmland in the coming years due to water shortages. He called for responsible development, advocating for urban infill rather than outward expansion, and stressed that Stanislaus County should remain an agricultural hub rather than becoming a bedroom community for the Bay Area.  Lucas expressed concern about the high number of car accidents in Modesto due to reckless driving. He advocated for reinstating the city's red light camera program, citing research suggesting such programs can reduce red light running-related crashes by 21-30%. Lucas argued that automated enforcement is more efficient than relying solely on law enforcement officers. He also provided national statistics on traffic fatalities, emphasizing the rise in red light running incidents and the overall impact of traffic violations. He concluded by addressing concerns about privacy, stating that driving is a regulated activity.
 Perfecto Munoz addressed the Councill to express gratitude for their support in extending the operational time of the King Kennedy Memorial Center. He acknowledged the efforts of city officials, including Eric Alvarez, the Deputy City #4..
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Manager, and the Parks and Recreation Director, for working closely with the community to maintain the center. Munoz highlighted the center’s impact, particularly in public safety, noting the installation of security cameras in key areas. He shared that the center has grown significantly, expanding from a $258,000 annual budget to $1.5 million and offering 12 different programs. In 2024, the center served over 20,000 people, reflecting its vital role in the community. Munoz emphasized the dedication of his staff and expressed hope for continued collaboration with the city.

CONSENT ITEMS – ROLL CALL VOTE REQUIRED
ACTION CONSENT ITEMS: 2-9 (Escutia-Braaton/Wright; 7/0)

CONSENT
Consent

2. Consider approving the minutes for the January 28, 2025 Council Meeting. (Funding Source: Not Applicable)
 Motion approving the minutes for the January 28, 2025 Council Meeting.

CITY CLERK; Diane Nayares-Perez, 209-577-5396, [email protected] ACTION: (Escutia-Braaton/Wright; 7/0) Motion approving the minutes for the January 28, 2025 Council Meeting.

Consent

3. Consider approving an Amendment to the Mayor’s Appointments to the City Council Liaison Committees for the 2025 calendar year. (Funding Source: Not Applicable)  Motion approving the amended City Council Liaison Committees assignments.

CITY CLERK; Diane Nayares-Perez, 209-577-5396, [email protected] ACTION: (Escutia-Braaton/Wright; 7/0) Motion approving the amended City Council Liaison Committees assignments.

Consent

4. Consider approving the recommended budget adjustments to Fiscal Year 2024-25 Annual Operating and Capital Improvement Program Budgets. (Funding Source:

Various Funds)
 Resolution amending Fiscal Year 2024-25 Annual Operating and Capital Improvement Project Fund Budgets and authorizing the City Manager, to take the necessary steps to implement the provisions of this Resolution.

BUDGET; Stephan Christensen, 209-577-5390, [email protected] ACTION: (Escutia-Braaton/Wright; 7/0) Resolution 2025-051 amending Fiscal Year 2024-25 Annual Operating and Capital Improvement Project Fund Budgets and authorizing the City Manager, to take the necessary steps to implement the provisions of this Resolution.
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Consent

5. Consider accepting the Graceada Park Pool Fencing Replacement Project as complete, releasing securities, releasing payments totaling $164,907 to Joe’s Landscaping & Concrete, Inc. of Newman, CA, and authorizing the City Clerk to file a Notice of Completion. (Funding Source: American Rescue Plan Act (ARPA), General Fund, Parks Fund)
 Resolution accepting the Graceada Park Pool Fencing Replacement Project as complete, releasing securities, releasing payments totaling $164,907 to Joe’s Landscaping & Concrete, Inc. of Newman, CA, and authorizing the City Clerk to file a Notice of Completion.

ENGINEERING SERVICES; Peter Kambel, 209-577-5444, [email protected] ACTION: (Escutia-Braaton/Wright; 7/0) Resolution 2025-052 accepting the Graceada Park Pool Fencing Replacement Project as complete, releasing securities, releasing payments totaling $164,907 to Joe’s Landscaping & Concrete, Inc. of Newman, CA, and authorizing the City Clerk to file a Notice of Completion.

Consent

6. Consider accepting an Informational Report for the December 2024 Accounts Payable Payment Register and Void Report. (Funding Source: Not Applicable)  Motion accepting an Informational Report for the December 2024 Accounts Payable Payment Register and Void Report.

FINANCE DEPARTMENT; Maria Garnica, 209-577-5249,
[email protected]
ACTION: (Escutia-Braaton/Wright; 7/0) Motion accepting an Informational Report for the December 2024 Accounts Payable Payment Register and Void Report.

Consent

7. Consider approving a Memorandum of Understanding (MOU) for Service between the City of Ceres, the City of Modesto, the Stanislaus Consolidated Fire Protection District (SCFPD), the City of Turlock, and the Stanislaus County Fire Warden’s Office for Fire Department Training Services. (Funding Source: General Fund)  Resolution approving a Memorandum of Understanding (MOU) for Service between the City of Ceres, the City of Modesto, the Stanislaus Consolidated Fire Protection District (SCFPD), the City of Turlock, and the Stanislaus County Fire Warden’s Office for Fire Department Training Services; and authorizing the City Manager, or his designee, to execute the Agreement.

FIRE DEPARTMENT; Kevin Wise, 209-572-9590, [email protected] ACTION: (Escutia-Braaton/Wright; 7/0) Resolution 2025-053 approving a Memorandum of Understanding (MOU) for Service between the City of Ceres, the City of Modesto, the Stanislaus Consolidated Fire Protection District (SCFPD), the City of Turlock, and the Stanislaus County Fire Warden’s Office for Fire Department Training Services; and authorizing the City Manager, or his designee, to execute the Agreement.
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Consent

8. Consider approving an Amendment to the Bylaws of the Modesto Blight Abatement Advisory Committee to allow for the two positions of registered electors of Stanislaus County to be filled by registered electors of the City of Modesto for one term if no applications for these positions are received. (Funding Source: Not Applicable)  Resolution approving an Amendment to the Bylaws of the Modesto Blight Abatement Advisory Committee to allow for the two positions of registered electors of Stanislaus County to be filled by registered electors of the City of Modesto for one term if no applications for these positions are received.

PUBLIC WORKS; Myriah Hill, 209-577-5495, [email protected] ACTION: (Escutia-Braaton/Wright; 7/0) Resolution 2025-054 approving an Amendment to the Bylaws of the Modesto Blight Abatement Advisory Committee to allow for the two positions of registered electors of Stanislaus County to be filled by registered electors of the City of Modesto for one term if no applications for these positions are received.

Consent

9. Consider approving the Agreement with Amano McGann, Inc., Roseville, MN for Parking Access Control Revenue System Upgrade, Field Devices and Software for a total amount not to exceed $991,495 over four years. (Funding Source: Measure H Funds)
 Resolution approving the Agreement with Amano McGann, Inc., Roseville, MN for Parking Access Control Revenue System Upgrade, Field Devices and Software for a total amount not to exceed $991,495 over four years, and authorizing the City Manager, or his designee, to execute the Agreement.

PUBLIC WORKS; Patrick Crowley, 209-402-6812, [email protected] ACTION: (Escutia-Braaton/Wright; 7/0) Resolution 2025-055 approving the Agreement with Amano McGann, Inc., Roseville, MN for Parking Access Control Revenue System Upgrade, Field Devices and Software for a total amount not to exceed $991,495 over four years, and authorizing the City Manager, or his designee, to execute the Agreement.

COUNCIL COMMENTS & REPORTS
Councilmember Williams shared his recent community engagements. He spoke at a Kindness Assembly at Capistrano Elementary, encouraging students to "be like a tree" by offering support and positivity. He attended the Modesto Chamber of Commerce’s 111th celebration, highlighting honoree Ray Simon. Williams also participated in a Lunar New Year event at the Senior Center, commending City staff for their efforts. In recognition of Black History Month, he contributed to articles in the Modesto View and promoted events, including a production by Sankofa, Modesto’s first African American theater company, at the Gallo Center, and a free Black History Month program at the King Kennedy Center on February 28.
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Councilmember Ricci discussed key city issues, emphasizing traffic safety, housing, and urban tree restoration. He highlighted Modesto’s high rate of traffic accidents and expressed hope that the upcoming budget would fund three additional traffic officers to enhance safety. He also encouraged homeowners to explore the city's Accessory Dwelling Unit (ADU) Dashboard, which offers reduced permit fees and free pre-approved plans for building small additional housing units. Lastly, he stressed the importance of restoring Modesto’s urban tree canopy, noting that while over 1,000 trees have been removed annually due to aging, a stronger replanting plan is needed to improve air quality and reduce summer temperatures.

Councilmember Alvarez acknowledged the Marches for Migrant Awareness and his role on the Latino Emergency Council for El Concilio. He highlighted ongoing collaboration with California Rural Legal Assistance (CRLA) to provide Know Your Rights workshops for migrant communities in Modesto and the surrounding region. Alvarez also recognized Dr. Perfecto Munoz and the work of the West Modesto Community Collaborative, emphasizing the importance of retaining its services. He requested a 2024 impact report to better understand the organization’s reach, particularly its service to 20,000 people. Lastly, he noted that he would be leaving the meeting early due to an unforeseen circumstance.

Councilmember Alvarez left at 6:00 p.m.

Councilmember Escutia-Bratton acknowledged the public service and resilience of Officer Michael Rokaitis, who was injured in 2021 while serving a search warrant. She noted that he has returned to full service as a detective in the Investigative Services Division. She also mentioned that the trial of the individual responsible for the shooting is currently in jury deliberation. Additionally, she highlighted the grand opening of Vallarta Supermarket in Modesto, emphasizing its economic impact, job creation, and availability of healthy food options. She invited the public to attend the ribbon-cutting ceremony at 9 a.m. at the former Save Mart location on Sisk and Glendale, with festivities beginning at 8:15 a.m.

Councilmember Wright addressed a concern about red light cameras, stating that approximately ten cameras will be installed in high-accident areas throughout Modesto in the coming months, with the potential for more in the future. He also directed further questions on the matter to the Police Chief.

Councilmember Williams additionally thanked Councilwoman Escutia-Bratton for acknowledging the Rokaitis family and expressed appreciation for their contributions to law enforcement. He also informed the public about an opportunity to meet an elected official at El Concilio, located at 1314 H Street, on Thursday from 4 to 6 PM. The event is free and open to the public.

Mayor Zwahlen shared an update on the Modesto Children's Museum, highlighting its Impactful For All Access Program, which provides discounted tickets for SNAP EBT users. In its first year, the museum served over 26,000 children and families, with 35% of ticket sales discounted—well above the national average of 5%. The museum has also #4..
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partnered with Stanislaus County Libraries to offer free passes, providing over 2,500 free visits annually. Additionally, the museum will host a national tour of the character Gabby from Gabby's Dollhouse, collaborating with Dreamworks, Netflix, and the Association of Children's Museums. The museum works closely with Modesto City Schools to ensure early childhood students visit, and it has attracted visitors from across the country and internationally. The Modesto Children's Museum has received several awards, including recognition as Nonprofit of the Year by the Modesto Chamber of Commerce.

CITY MANAGER COMMENTS & REPORTS
None.

NEW BUSINESS

10. Consider approving City of Modesto’s Homekey+ Project Application to California Department of Housing and Community Development (HCD) for the project located at 1121 Needham St., Modesto, CA 95354, with a project cost not to exceed $22,896,000 and a Memorandum of Understanding with El Capitan Homekey LP that includes a Community Development Block Grant loan to not to exceed $3,007,163. (Funding Source: Homekey+ and Community Development Block Grant Funds)  Resolution approving the City of Modesto’s Homekey+ Project Application to the California Department of Housing and Community Development (HCD) for the project located at 1121 Needham St., Modesto, CA 95354, with a total project cost not to exceed $22,896,000, and approving a Memorandum of Understanding that includes a Community Development Block Grant loan to El Capitan Homekey LP in an amount not to exceed $3,007,163, authorizing the City Manager, or his designee, to submit the application, applicable documentation, with alterations as required by the California Department of Housing and Community Development (HCD) as well as negotiate and execute any related program Agreements or documents required for the implementation and acceptance of Homekey+ Program Grant, as required by HCD.  A Resolution of the Governing Body of the City of Modesto authorizing joint application to and participation in the Homekey Program for the development at 1121 Needham Street.

CED; Edgar Garcia, 209-577-5101, [email protected] ACTION: (Ricci/Wright; 6/0; Alvarez absent) Resolution 2025-056 approving the City of Modesto’s Homekey+ Project Application to the California Department of Housing and Community Development (HCD) for the project located at 1121 Needham St., Modesto, CA 95354, with a total project cost not to exceed $22,896,000, and approving a Memorandum of Understanding that includes a Community Development Block Grant loan to El Capitan Homekey LP in an amount not to exceed $3,007,163, authorizing the City Manager, or his designee, to submit the application, applicable documentation, with alterations as required by the California Department of Housing and Community Development (HCD) as well as negotiate and execute any related program Agreements or documents required for the implementation and acceptance of Homekey+ Program Grant, as required by HCD. #4..
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ACTION: (Ricci/Wright; 6/0; Alvarez absent) Resolution 2025-057 of the Governing Body of the City of Modesto authorizing joint application to and participation in the Homekey Program for the development at 1121 Needham Street.

11. Consider approving the Plans and Specifications for the Scenic Drive Phase II, Dry Creek Trail Phase II, Kansas Avenue, & Neighborhood Traffic Calming Program Cycle I Project, accepting the Bid and Awarding a Contract to Bay Cities Paving & Grading, Inc., of Concord, CA, for a total amount not to exceed $13,551,894; and approving an Agreement with TRC Engineers, Inc., of Lathrop, CA for Construction Management Services, Inspection and Materials Testing Services for a total amount not to exceed $957,578. (Funding Source: Local Measure L Funds)  Resolution approving the Plans and Specifications for the Scenic Drive Phase II, Dry Creek Trail Phase II, Kansas Avenue, & Neighborhood Traffic Calming Program Cycle I Project, accepting the Bid and Awarding a Contract to Bay Cities Paving & Grading, Inc., of Concord, CA, in the amount of $12,319,904, and authorizing Change Orders up to the cumulative amount of $1,231,990, for a total Agreement amount not to exceed $13,551,894, and authorizing the City Manager, or his designee, to execute the Contract.
 Resolution approving an Agreement with TRC Engineers, Inc., of Lathrop, CA for Construction Management and Inspection Services for the Scenic Drive Phase II, Dry Creek Trail Phase II, Kansas Avenue, & Neighborhood Traffic Calming Program Cycle I Project in an amount not to exceed $870,525, plus $87,053 for additional services, if needed, for a total amount not to exceed $957,578, and authorizing the City Manager, or his designee, to execute the Agreement.

ENGINEERING SERVICES; Michael Sacuskie, 209-571-5552,
[email protected]
ACTION: (Williams/Wright; 4/0; Alvarez absent; Zwahlen, Escutia-Braaton Recused) Resolution 2025-058 approving the Plans and Specifications for the Scenic Drive Phase II, Dry Creek Trail Phase II, Kansas Avenue, & Neighborhood Traffic Calming Program Cycle I Project, accepting the Bid and Awarding a Contract to Bay Cities Paving & Grading, Inc., of Concord, CA, in the amount of $12,319,904, and authorizing Change Orders up to the cumulative amount of $1,231,990, for a total Agreement amount not to exceed $13,551,894, and authorizing the City Manager, or his designee, to execute the Contract.

ACTION: (Williams/Wright; 4/0; Alvarez absent; Zwahlen, Escutia-Braaton Recused) Resolution 2025-059 approving an Agreement with TRC Engineers, Inc., of Lathrop, CA for Construction Management and Inspection Services for the Scenic Drive Phase II, Dry Creek Trail Phase II, Kansas Avenue, & Neighborhood Traffic Calming Program Cycle I Project in an amount not to exceed $870,525, plus $87,053 for additional services, if needed, for a total amount not to exceed $957,578, and authorizing the City Manager, or his designee, to execute the Agreement. #4..
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MATTERS TOO LATE FOR THE AGENDA
None.

ADJOURNMENT
This meeting adjourned at 6:44 P.M.

Attest:____________________________
Diane Nayares-Perez, City Clerk
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All Closed Session Matters heard prior to the meeting.

CLOSED SESSION
CONFERENCE WITH REAL PROPERTY NEGOTIATORS:
(Pursuant to Section 54956.8 of the Government Code)
Property: 1000 L. Street, Modesto CA 95354; APN 105-048-011 Property Owners: Modesto Redevelopment Successor Agency Negotiating Parties:

For City: Joseph P. Lopez, City Manager
For Lessee: Westmont Hospitality Group
Under Negotiation: Terms of Lease
CONFERENCE WITH REAL PROPERTY NEGOTIATORS:
(Pursuant to Section 54956.8 of the Government Code)
Property: 601 Neece Dr., Modesto, CA 95351; APN: 102-012-001 and 102-012- 004
Property Owners: City of Modesto
Negotiating Parties:

For City: Joseph P. Lopez, City Manager
For Lessee: DBH Modesto, LLC
Under Negotiation: Price and Terms of Lease

CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION
One Case (Pursuant to Section 54956.9(a) of the Government Code) Name of case(s): Gregory Selvera v. City of Modesto
California Workers Compensation Appeals Board
Nos. ADJ17195313
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CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

February 25, 2025
Date: January 10, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Jessica Hill, Director of Community and Economic Development SUBJECT: Prepare and File the Fiscal Year 2025-26 Engineer’s Annual Report for Landscape Maintenance Assessment District No. 1 (Dry Creek Meadows Subdivisions Nos. 1-6)
CONTACT: Edgar Garcia, Community Development Manager
[email protected], 209-577-5211
DESCRIPTION:

Consider directing staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for City of Modesto Landscape Maintenance Assessment District No. 1 (Dry Creek Meadows Subdivisions Nos. 1-6). (Funding: Landscape Maintenance Assessment District No. 1) STRATEGIC PLAN ELEMENT:

The recommended action supports the City of Modesto’s 2020-2025 Strategic Plan Initiatives:

Provide Safe, Efficient, and Reliable Infrastructure through proactive community investment, maintenance, and sustainability efforts.

BACKGROUND:

On December 12, 1988, the City of Modesto formed Landscape Maintenance Assessment District (LMAD No. 1). LMAD No. 1 provides funding for the landscape maintenance in the public right-of-way, street medians, and areas adjacent to the access control walls in Dry Creek Meadows Subdivisions Nos. 1 through 6. LMAD No. 1 is comprised of 749 single-family residential lots and three (3) public agency owned parcels located east of North McClure Road at the southwest corner of Claus Road and MID Lateral No. 2. A copy of the boundary map is provided as Attachment 2.

LMAD No. 1 was formed in accordance with the Streets and Highways Code Sections 22500 through 226791, more commonly known as the Landscape and Lighting Act of 1972 (the Act). 1 Landscape and Lighting Act of 1972
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City Council, February 25, 2025
Prepare and File the Fiscal Year 2025-26 Engineer’s Annual Report for Landscape Maintenance Assessment District No. 1

Page 2 of 3 ends

Section 226202 et. seq. of the Act requires the legislative body (the City Council) to take the following actions prior to August 10 of each year:

1. Adopt a resolution which generally describes any proposed new improvements or any substantial changes in existing improvements and orders the preparation and filing of the Engineer’s Annual Report.

2. Adopt a resolution approving the Engineer’s Annual Report as submitted or as modified by the legislative body.

3. Adopt a Resolution of Intention to levy and collect assessments within the assessment district for the fiscal year.

4. Conduct a public hearing.

5. Adopt a resolution confirming the diagram and assessment as originally proposed or as changed by the legislative body.

DISCUSSION:

When LMAD No. 1 was formed, no annual escalator was adopted; therefore, the annual assessment for LMAD No. 1 has remained the same since 1996. Staff does not anticipate any new improvements or substantial changes to existing improvements.

Staff recommends the City Council to direct staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for LMAD No. 1 with the City Clerk. Approval of the Engineer’s Annual Report will be scheduled for City Council consideration in April 2025, with the public hearing to follow in June 2025.

FISCAL IMPACT:

All costs associated with LMAD No. 1 are paid by the assessments levied on each property within the assessment area. Included in these costs are contracted maintenance expenses, utility service charges, and City staff time associated with administration and maintenance of LMAD No. 1. The Fiscal Year 2024-25 assessment was $19,474.00 (749 parcels at $26.00 per parcel).

COMMITTEE RECOMMENDATION:

This item is an annual report and was not presented to a Council Committee.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution directing staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for City of Modesto Landscape Maintenance Assessment District No. 1 (Dry Creek Meadows Subdivisions Nos. 1-6).
2 Sections 22620 of the Landscape and Lighting Act of 1972 #5..
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City Council, February 25, 2025
Prepare and File the Fiscal Year 2025-26 Engineer’s Annual Report for Landscape Maintenance Assessment District No. 1

Page 3 of 3 ends

Approved by:

Jessica Hill,
Director of Community and Economic Development
Joseph P. Lopez, City Manager
Attachments:

1. Resolution

2. LMAD No.1 Boundary Map
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2-25-2025/CED/EGarcia 1 2025-

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-

RESOLUTION DIRECTING STAFF TO PREPARE AND FILE THE FISCAL YEAR 2025-26 ENGINEER’S ANNUAL REPORT FOR CITY OF MODESTO LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT NO. 1 (DRY CREEK MEADOWS SUBDIVISIONS NOs. 1-6)
WHEREAS, Resolution No. 88-935 adopted by the Council of the City of Modesto on December 13, 1988, initiated proceedings for the formation of Landscape Assessment District No. 1 (LMAD No. 1) to provide funding for the landscape maintenance in the public right-of-way, street medians and adjacent to the access control walls in Dry Creek Meadows Subdivisions Nos. 1-6; and
WHEREAS, LMAD No. 1 was formed in accordance with the
Landscaping and Lighting Act of 1972 (Streets and Highways Code Sections 22500 through 22679), and comprised of 749 single-family residential lots and three (3) public agency owned parcels; and
WHEREAS, Section 22620 et. seq. of the Streets and Highways Code requires the legislative body (the City Council) adopt a resolution which shall generally describe any proposed new improvements or any substantial changes in existing improvements and orders the preparation and filing of the report; and WHEREAS, the annual assessment for LMAD No. 1 has remained the same since 1996; and
WHEREAS, staff does not anticipate any new improvements or substantial changes in existing improvements.

NOW, THEREFORE, BE IT RESOLVED that the City Engineer is designated by the City Council as the Engineer of Work for LMAD No. 1 and is hereby #5..
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2-25-2025/CED/EGarcia 2 2025-
directed to prepare and file an annual report in accordance with the provisions of the Landscaping and Lighting Act of 1972, as amended (Streets and Highways Code Sections 22500 through 22679).
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2-25-2025/CED/EGarcia 3 2025-
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 25th day of February, 2025, 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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CLAUS RD

WADDELL WY

N MC CLURE RD

CREEKWOOD DR

CODINGTON WYARDIA AVE

WICHITA WY

REDFIELD AVE

DRY CREEK DR

MECHALYS WY

GATESVILLE AVE

ELLENBORO AVE

DILLINGHAM AVE

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WILKESBORO AVE

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SHARPSBURG DR

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ASHEBORO LN

HIGHMORE LN

EFFINGHAM LN

LARNED LN

ANSONVILLE LN

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SALINA DR

PARKSTON CT SPINDALE DR

LEAVENWORTH WY

WILMONT LN

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CHADBURN CT

GARST RD

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SCHUYLER WY

PARSONS CT

GOODLAND CT

SUNBURY CT
MID LATERAL NO 2
Assessment District Diagram
Landscape Maintenance Assessment District No. 1
(Dry Creek Meadows Subdivisions No. 1 - 6)
®
250 0 250 125
Feet Date: 1/6/2025
Document Path: G:\Projects\Maintenance\Aprx\LandscapeMaintenanceNo1\LandscapeMaintenanceNo1.aprx #5..
- 32 -

CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

February 25, 2025
Date: January 15, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Jessica Hill, Director of Community and Economic Development SUBJECT: Prepare and File the Fiscal Year 2025-26 Engineer’s Annual Report for Landscape Maintenance Assessment District No. 2 (Dry Creek Meadows Subdivisions Nos. 7-10, Creekwood Meadows Subdivision and Yosemite Meadows Subdivisions Units 1 and 2)
CONTACT: Edgar Garcia, Community Development Manager
[email protected], 209-577-5211
DESCRIPTION:

Consider directing staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for City of Modesto Landscape Maintenance Assessment District No. 2 (Dry Creek Meadows Subdivisions Nos. 7-10, Creekwood Meadows Subdivision and Yosemite Meadows Subdivisions Units 1 and 2). (Funding Source: Landscape Maintenance Assessment District No. 2)
STRATEGIC PLAN ELEMENT:

The recommended action supports the City of Modesto’s 2020-2025 Strategic Plan Initiatives:

Provide Safe, Efficient, and Reliable Infrastructure through proactive community investment, maintenance, and sustainability efforts.

BACKGROUND:

On April 4, 1989, the City of Modesto formed Landscape Maintenance District No. 2 (LMAD No. 2). LMAD No. 2 provides funding for the landscape maintenance in the public right-of-way, street medians, and areas adjacent to the access control walls in Dry Creek Meadows Subdivisions Nos. 7 through 10, Creekwood Meadows Subdivision, and Yosemite Meadows Subdivisions Units 1 and 2. LMAD No. 2 is comprised of 135.2 acres and is located on the northeast corner of Yosemite Boulevard and North McClure Road and is bounded by Yosemite Boulevard on the south, North McClure Road on the west, Yosemite Meadows Drive on the east, and Mechalys Way on the north. A copy of the boundary map is provided as Attachment

2. #6..
- 33 -
City Council, February 25, 2025
Prepare and File the Fiscal Year 2025-26 Engineer’s Annual Report for Landscape Maintenance Assessment District No. 2

Page 2 of 3 ends

LMAD No. 2 was formed in accordance with the Streets and Highways Code Sections 22500 through 226791, more commonly known as the Landscape and Lighting Act of 1972 (the Act).

Section 226202 et. seq. of the Act requires the legislative body (the City Council) to take the following actions prior to August 10 of each year:

2. Adopt a resolution approving the Engineer’s Annual Report as submitted or as modified by the legislative body.

3. Adopt a resolution of intention to levy and collect assessments within the assessment district for the fiscal year.

4. Conduct a public hearing.

5. Adopt a resolution confirming the diagram and assessment as originally proposed or as changed by the legislative body.

DISCUSSION:

In June 2000, staff successfully completed a Proposition 218 ballot measure which increased the annual assessment and added an annual inflator based on the Building Cost Index. Staff does not anticipate any new improvements or substantial changes.

Staff recommends the City Council to direct staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for LMAD No. 2 with the City Clerk. Approval of the Engineer’s Annual Report will be scheduled for City Council consideration in April 2025 with the Public Hearing to follow in June 2025.

FISCAL IMPACT:

All costs associated with LMAD No. 2 are paid by the assessments levied on each property within the 134.17-acre assessment area. Included in these costs are contracted maintenance expenses, utility service charges, and City staff time associated with administration and maintenance of LMAD No. 2. Fiscal Year 2024-25 assessment was $34,204.58 (134.17 assessed acres at $254.92/acre for all property which resulted in $254.92/acre for commercial property and $50.16 per parcel for residential property.) COMMITTEE RECOMMENDATION:

This item is an annual report and was not presented to a Council Committee.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution directing staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for City of Modesto Landscape Maintenance Assessment District No. 2 (Dry Creek Meadows Subdivisions Nos. 7-10, Creekwood Meadows Subdivision and Yosemite Meadows Subdivisions Units 1 and 2).
1 Landscape and Lighting Act of 1972
2 Sections 22620 of the Landscape and Lighting Act of 1972 #6..
- 34 -
City Council, February 25, 2025
Prepare and File the Fiscal Year 2025-26 Engineer’s Annual Report for Landscape Maintenance Assessment District No. 2

Page 3 of 3 ends

Approved by:

Jessica Hill, Director of Community
and Economic Development
Joseph P. Lopez, City Manager
Attachments:

1. Resolution

2. LMAD No. 2 Boundary Map
#6..
- 35 -
02-25-2025/CED/EGarcia 1 2025-

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-

RESOLUTION DIRECTING STAFF TO PREPARE AND FILE THE FISCAL YEAR 2025-26 ENGINEER’S ANNUAL REPORT FOR CITY OF MODESTO LANDSCAPE MAINTENANCE ASSESSMENT DISTRICT NO. 2 (DRY CREEK MEADOWS SUBDIVISIONS NOs. 7-10, CREEKWOOD MEADOWS
SUBDIVISION AND YOSEMITE MEADOWS SUBDIVISIONS UNITS 1 AND 2) WHEREAS, Resolution No. 89-460, adopted by the Council of the City of Modesto on April 4, 1989, initiated proceedings for the formation of Landscape Maintenance Assessment District No. 2 (LMAD No. 2) to provide funding for the landscape maintenance in the public right-of-way, street medians, and areas adjacent to the access control walls in Dry Creek Meadows Subdivisions Nos. 7 through 10, Creekwood Meadows Subdivision, and Yosemite Meadows Subdivisions Units 1 and 2; and
WHEREAS, LMAD No. 2 was formed in accordance with the
Landscaping and Lighting Act of 1972 (Streets and Highways Code Sections 22500 through 22679); and
WHEREAS, Section 22620 of the Streets and Highways Code requires the legislative body (the City Council) to adopt a resolution which shall generally describe any proposed new improvements or any substantial changes in existing improvements and direct staff to prepare and to file a report accordingly; and WHEREAS, the annual assessment for LMAD No. 2 has gradually increased since July 2000; and
WHEREAS, staff does not anticipate any new improvements or substantial changes in existing improvements.
#6..
- 36 -
02-25-2025/CED/EGarcia 2 2025-
NOW, THEREFORE, BE IT RESOLVED, that the City Engineer is designated by this City Council as the Engineer of Work for LMAD No. 2 and is hereby directed to prepare and file an annual report in accordance with the provisions of the Landscaping and Lighting Act of 1972, as amended, (Streets and Highways Code Sections 22500 through 22679).
#6..
- 37 -
02-25-2025/CED/EGarcia 3 2025-
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 25th day of February, 2025, 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
#6..
- 38 -

YOSEMITE BLV

N MC CLURE RD

MECHALYS WY

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079017049
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079028002
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079011026
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079027066
079013043
079018018 079018019 079018024
079018023
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079018022
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079023010
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079024039
079023047
079022038 079018042
079027064
079017030
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079027004
079027005
079027008
079027009
079027010
079027012
079027013
079027014
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079028022
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079011029
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079022040
079017047
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079022041
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079012043
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079013044
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009001024
079012001 079011024
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033088010
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033088007
033088006
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079012048 079012017
079011031
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033090076
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033090080
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033091083
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033091081
033091080
033091089
079012016
079012050
009002002
009002003
079009062 079012053 079012051 079011032
036013019
079012052
033092087
079028069
009001018
079025015

CLAUS RD

YOSEMITE BLV

N MC CLURE RD

CREEKWOOD DR

JARENA DR

MELBOURNE DR

WADDELL WY

JULENE DR

CODINGTON WY MECHALYS WY GELF LN

SENTINEL DR

DOTHAN DR

GATESVILLE AVE

LOUISBURG AVE

WILKESBORO AVE

ANSONVILLE LN

LAURENBURG AVE

TROON PL

EFFINGHAM LN

ASHEBORO LN

WILMINGTON WY

YOSEMITE MEADOWS DR

GARNER RD

BAYBORO DR

S MC CLURE RD

ANASTASIA DR

EL PORTAL PL

WESTFALL LN

ELLENBORO AVE

ARDIA AVE

ANNISTON CT

HALLSBORO CT

RECTOR LN

SCHUYLER WY

VANCEBORO CT HIGH POINT CT

MACON CT

SENTINEL CT

SUNBURY CT
Assessment District Diagram
Landscape Maintenance Assessment District No. 2
(Dry Creek Meadows Subdivisions No. 7 - 10)
(Creekwood Meadows Subdivision)
(Yosemite Meadows Units No. 1 & 2)
®
250 0 250 125
Feet Date: 1/6/2025
Document Path: G:\Projects\Maintenance\Aprx\LandscapeMaintenanceNo2\LandscapeMaintenanceNo2\LandscapeMaintenanceNo2.aprx #6..
- 39 -

CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

February 25, 2025
Date: January 15, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Jessica Hill, Director of Community and Economic Development SUBJECT: Prepare and File the Fiscal Year 2025-26 Engineer’s Annual Report for the Shackelford Landscape and Lighting District
CONTACT: Edgar Garcia, Community Development Manager
[email protected], 209-577-5211
DESCRIPTION:

Consider directing staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for City of Modesto Shackelford Landscape and Lighting District. (Funding Source: Shackelford Landscape and Lighting District)
STRATEGIC PLAN ELEMENT:

The recommended action supports the City of Modesto’s 2020-2025 Strategic Plan Initiatives:

Provide safe, efficient, and reliable infrastructure through proactive community investment, maintenance, and sustainability efforts.

BACKGROUND:

On June 29, 1999, the County of Stanislaus formed the Shackelford Landscape and Lighting District (Shackelford LLD). On July 1, 2012, the City assumed jurisdiction of the Shackelford LLD which includes 493 residential and commercial lots. The Shackelford LLD is comprised of 153 acres of land and bounded by Crows Landing Road on the west, East Hatch Road on the south, Union Pacific Railroad on the east, and State Route 99 on the north. The Shackelford LLD provides funding for the maintenance and service of six (6) 95-watt and seventy-six (76) 200-watt high-pressure sodium streetlights located within its boundaries. The annual assessment levied is calculated by dividing the total cost estimate for maintenance and services by the total number of parcels within the Shackelford LLD. A copy of the boundary map is provided as Attachment 2.

Shackelford LLD was formed in accordance with California Streets and Highways Code Section 22500 through 226791, more commonly known as the Landscape and Lighting Act of 1972 (“the 1 Landscape and Lighting Act of 1972
#7..
- 40 -
City Council, February 25, 2025
Prepare and File the Fiscal Year 2025-26 Engineer’s Annual Report for the Shackelford Landscape and Lighting District

Page 2 of 3 ends

Act”). Section 226202 et. seq. of the Act requires the legislative body (the City Council) to take the following actions prior to August 10th of each year:

2. Adopt a resolution approving the Engineer’s Annual Report as submitted or as modified by the legislative body.

3. Adopt a Resolution of Intention to levy and collect assessments within the assessment district for the fiscal year.

4. Conduct a public hearing.

5. Adopt a resolution confirming the diagram and assessment as originally proposed or as changed by the legislative body.

DISCUSSION:

Pursuant to section 225723 of the Streets and Highway Code, the method used to calculate the annual assessment is the total cost to operate and maintain the Shackelford LLD divided equally by the number of parcels located within the district. If the costs to maintain the streetlights increase within the district, the levy itself would increase. There is no formal escalator. Staff does not anticipate any new improvements of substantial changes to existing improvements. During Fiscal Year 2024-25 two (2) commercial parcels within the Shackelford LLD were consolidated into one (1) parcel changing the total parcels within the district from 494 to 493.

Staff recommends the City Council to direct staff to prepare and file the 2025-26 Engineer’s Annual Report for the Shackelford LLD with the City Clerk. Approval of the Engineer’s Annual Report will be scheduled for City Council consideration in April 2025 with the Public Hearing to follow in June 2025.

FISCAL IMPACT:

All costs associated with the Shackelford LLD are paid by the assessments levied on each property within the assessment area. There are 493 assessment parcels within the Shackelford LLD, including six (6) public parcels which are not assessed a levy. Each parcel within the district receives equal benefits. Fiscal Year 2024-25 assessment was $30,958.72, $63.44 per parcel. Included in these costs are the maintenance and servicing of the improvements including, but not limited to, materials, equipment, labor, and administrative expenses.

COMMITTEE RECOMMENDATION:

This item is an annual report and was not presented to a Council Committee.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution directing staff to prepare and file the Fiscal Year 2025-26 Engineer’s Annual Report for City of Modesto Shackelford Landscape and Lighting District. 2 Sections 22620 of the Landscape and Lighting Act of 1972. 3 Section 22572 of the California Streets and Highway Code #7..
- 41 -
City Council, February 25, 2025
Prepare and File the Fiscal Year 2025-26 Engineer’s Annual Report for the Shackelford Landscape and Lighting District

Page 3 of 3 ends

Approved by:

Jessica Hill, Director of Community
and Economic Development
Joseph P. Lopez, City Manager
Attachments:

1. Resolution

2. Shackelford LLD Boundary Map
#7..
- 42 -
02-25-2025/CED/EGarcia 1 2025-

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-

RESOLUTION DIRECTING STAFF TO PREPARE AND FILE THE FISCAL YEAR 2025-26 ENGINEER’S ANNUAL REPORT FOR CITY OF MODESTO

SHACKELFORD LANDSCAPE AND LIGHTING DISTRICT
WHEREAS, on June 29, 1999, the County of Stanislaus formed the Shackelford Landscape and Lighting District (Shackelford LLD) for the purpose of administering the maintenance and service of six (6) 95-watt and seventy-six (76) 200- watt high-pressure sodium streetlights; and
WHEREAS, the Shackelford LLD was formed in accordance with the Landscaping and Lighting Act of 1972 (Streets and Highways Code Sections 22500 through 22679); and
WHEREAS, the Shackelford LLD is comprised of approximately 153 acres, includes 493 lots with both residential and commercial development, and is bounded by Crows Landing Road on the west, East Hatch Road on the south, Union Pacific Railroad on the east, and State Route 99 on the north; and WHEREAS, on July 1, 2012, the City of Modesto assumed jurisdiction of the Shackelford Landscape and Lighting District from the County of Stanislaus; and WHEREAS, Section 22620 of the Streets and Highways Code requires the legislative body (the City Council) to adopt a resolution which shall generally describe any proposed new improvements or any substantial changes in existing improvements and direct staff to prepare and to file a report accordingly; and WHEREAS, the annual assessment for the Shackelford LLD has gradually increased since June 1999; the method used to calculate the annual assessment is the total cost to operate and maintain the Shackelford LLD divided equally by the number of #7..
- 43 -
02-25-2025/CED/EGarcia 2 2025-
parcels located within the district. If the costs to maintain the streetlights increased, then the levy would increase. There is no formal escalator for this district, and WHEREAS, staff does not anticipate any new improvements or substantial changes in existing improvements.

NOW, THEREFORE, BE IT RESOLVED that the City Engineer is designated by the City Council as the “Engineer of Work” for the Shackelford LLD and is hereby directed to prepare and file an annual report in accordance with the provisions of the Landscaping and Lighting Act of 1972, as amended (Streets and Highways Code Sections 22500 through 22679).
#7..
- 44 -
02-25-2025/CED/EGarcia 3 2025-
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 25th day of February, 2025, 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
#7..
- 45 -

MAIN ST

PECOS AVE

RIO GRANDE AVE

CROWS LANDING RD

SCHOOL AVE

BOWIE AVE

CROWS LANDING RD
038030045
038039027
038018005
038019034
038019038
038019012
038019018
038018004
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086010015
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038018003
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086010021
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038037015
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038037017
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038037018
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038037063
038031029 038031060
038037062
038037061
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038037060
038037059
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038037080
038031023 038031066
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038037081
038037082
038037048
038036001
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038037047
038037084
038036016
038037085
038031041 038031049
038037086
038037087
038031050 038031040
038031038
038035018
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038035012 038035019
038035020
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038035047
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038036020
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038035003 038035028
038036029
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038036019 038036030
038035046
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038035045
038035037
038035032
038035035
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038035056
056011028
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038038030 038038012
086009011
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086009017
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086009025
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038036043
038036042
038036022
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086009016
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038030038
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038030040
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038030022
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038029037 038029073
086009005
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038029005
038029006
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038029010
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038029028
038029027
038038017
038029025
038038025
038029022
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086009027
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038024017
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086009019
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038018006
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038032027
038032037
086009020
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038032028
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038032006
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038032015
038032016
038032009 038032013038032019 038032023
038031033
038025012
038030021
038036039
038037045038037046
056011025
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038038023
038022003
056011026
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038036034
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038022002
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038022015
038023004
086009030
038022001
038019017
038025015
TID LATERAL NO 1
HWY 99

MAIN ST

E HATCH RD

ALAMO AVE
S 7TH ST

PECOS AVE

CROWS LANDING RD

EL PASO AVE

SANTA FE AVE

BOULDER AVE

RIO GRANDE AVE

BOWIE AVE

PUEBLO AVE

SCHOOL AVE

BAROZZI AVE

ZEFF RD

BROADWAY AVE
S 9TH ST
JIM WY
N HWY 99 (ON RAMP)

CROCKETT AVE
N HWY 99 (OFF RAMP)

JANOPAUL AVE

RITA CT

LITA CT
HWY 99
Assessment District Diagram
Shackelford Landscape and Lighting District
®
250 0 250 125
Feet
Date: 1/6/2025
Document Path: G:\Projects\Maintenance\Aprx\LandscapeMaintenanceShackelford\ShackelfordMaintenance.aprx #7..
- 46 -

CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

February 25, 2025
Date: January 28, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Toby Wells, Director of Engineering Services/City Engineer SUBJECT: Local Transportation Funds Claim FY 2023-24 and 2024-25 CONTACT: Nathan Houx, Parks Planning and Development Manager, [email protected], 209-571-5526
DESCRIPTION:

Consider approving the submission of the City’s Local Transportation Funds Fiscal Year 2023-24 and 2024-25 Claim for Non-Motorized and Other Purposes (bike lanes and pedestrian pathways) in the amount of $487,911, to the Stanislaus Council of Governments (StanCOG). (Funding Source: Local Transportation Funds)
STRATEGIC PLAN ELEMENT:

This item is consistent with the following 2020-2025 Strategic Plan Area of Focus: Quality of Life and Governance and Service Delivery.

BACKGROUND:

Every year, the Stanislaus Council of Governments (StanCOG) distributes within their jurisdiction approximately $24.5 million in Local Transportation Funds (LTF) and State Transit Assistance Funds (STA) as required by the Transportation Development Act (TDA). TDA funds are primarily intended for transit needs, however, the TDA mandates that 2% of the LTF funds be apportioned for non-motorized (bicycle and pedestrian) purposes.

LTF funds for non-motorized purposes is an important source of revenue for bike trail construction and bike lane striping projects. These funds are derived from ¼ cent of the sales tax and have been used in the past as a local match for Federal funds and to support the development for the following bicycle and pedestrian projects:
100692 – Bike Lane Striping
100813 – Virginia Corridor Phase VII
101232 – TRRP Riverwalk Trail: Gateway to Legion
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City Council, February 25, 2025
Local Transportation Funds FY Claim 2023-24 and 2024-25

Page 2 of 3 ends

DISCUSSION:

On June 13, 2023, and June 10, 2024, StanCOG apportioned $243,628 and $244,283 respectively for non-motorized purposes for FY 2023-24 and 2024-25. The City of Modesto was allocated a combined total of $487,911 for the bicycle and pedestrian projects per StanCOG Resolutions 22-71 and 23-30. This funding will be used for the Virginia Corridor Phase VII project to continue development of the trail from Woodrow Avenue to the Hetch Hetchy Trail (CIP 100813).

When preparing the Fiscal Year 2023-24 and 2024-25 claim, it was noted that $157,610 in funding, accumulated in prior Fiscal Years, had not been budgeted to projects. Staff recommends the proposed budget adjustment to align the project budgets with the funding held in deferred revenue in addition to the FY 2023-24 and 2024-25 for a total allocation of $645,521.

FISCAL IMPACT:

This claim for LTF funds for non-motorized purposes is the formal request by the City to StanCOG to release its apportionment of LTF funds for non-motorized projects and non-motorized interest during the current fiscal year.

Apportionments for non-motorized 2% LTF:

FY 2023-2024 Award $243,628
FY 2024-2025 Award $244,283
Total $487,911
The revenue shall be allocated to the following CIP projects:
100813 – Virginia Corridor Phase VII $487,911
Total $487,911
Additionally, $157,610 of accumulated interest and prior year claim funds are being recognized and allocated to the Virginia Corridor Phase VII project. The total increase is $645,521.

COMMITTEE RECOMMENDATION:

This item was presented to the Finance Committee on January 27, 2025 and was recommended to be forwarded to Council for approval.

CEQA/NEPA REQUIREMENTS:

This is an administrative action and therefore is not subject to a CEQA review.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution approving the submission of the City’s Local Transportation Funds Fiscal Year 2023- 24 and 2024-25 Claim for Non-motorized and Other Purposes (bike lanes and pedestrian pathways) in the amount of $487,911 to the Stanislaus Council of Governments (STANCOG) and authorizing the City Manager, or his designee, to take the necessary steps to implement the provisions of this Resolution.

Resolution amending the Fiscal Year 2024-2025 Capital Improvement Program Budget to fund project #100813 (Virginia Corridor Phase VII) in an amount not to exceed $645,521 in transfers, revenue, and to budget expenditures to fund the project, and authorizing the City Manager or his designee, to implement the provisions of this Resolution. #8..
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City Council, February 25, 2025
Local Transportation Funds FY Claim 2023-24 and 2024-25

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Approved by:

Toby Wells, Engineering Services Director/City
Engineer
Joseph P. Lopez, City Manager
Attachments:

1. Resolution – 23/24 and 24/25 LTF Claim

2. Resolution – Budget Adjustment

3. FY23/24 and FY24/25 LTF claim

4. StanCOG Resolution 22-71

5. StanCOG Resolution 23-30
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02/25/2025/ENG/NHoux/Item XX 1 2025-XXX

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-
RESOLUTION APPROVING THE SUBMISSION OF THE CITY’S LOCAL TRANSPORTATION FUNDS FISCAL YEAR 2023-24 AND 2024-25 CLAIM FOR

NON-MOTORIZED AND OTHER PURPOSES (BIKE LANES AND
PEDESTRIAN PATHWAYS) IN THE AMOUNT OF $487,911 TO THE

STANISLAUS COUNCIL OF GOVERNMENTS (STANCOG) AND

AUTHORIZING THE CITY MANAGER, OR HIS DESIGNEE, TO TAKE THE

NECESSARY STEPS TO IMPLEMENT THE PROVISIONS OF THIS

RESOLUTION
WHEREAS, every year, the Stanislaus Council of Governments (StanCOG) distributes within their jurisdiction approximately $24.5 million in Local Transportation Funds (LTF) and State Transit Assistance Funds (STA) as required by the Transportation Development Act (TDA); and
WHEREAS, TDA funds are primarily intended for transit needs, however, the TDA mandates that 2% of the LTF funds be apportioned for non-motorized (bicycle and pedestrian) purposes; and
WHEREAS, on June 13, 2023, and June 10, 2024, StanCOG apportioned $243,628 and $244,283 respectively for non-motorized purposes for FY 2023-24 and 2024-25; and
WHEREAS, the City of Modesto was allocated a combined total of $487,911 for the bicycle and pedestrian projects per StanCOG Resolutions 22-71 and 23-30, which will be used to fund the Virginia Corridor Phase VII project to continue development of the trail from Woodrow Avenue to the Hetch Hetchy Trail (CIP 100813); and WHEREAS, when preparing the Fiscal Year 2023-24 and 2024-25 claim, it was noted that $157,610 in funding, accumulated in prior Fiscal Years, had not been budgeted to projects; and
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02/25/2025/ENG/NHoux/Item XX 2 2025-XXX
WHEREAS, staff recommends the proposed budget adjustment to align the project budgets with the funding held in deferred revenue in addition to the FY 2023-24 and 2024-25 for a total allocation of $645,521; and
WHEREAS, the City has prepared it’s LTF Claim for Fiscal Year 2023-24 and 2024-25 pursuant to Articles 4 and 8 of Chapter 4 of Part 11, Division 10 of the California Public Utilities Code; and
WHEREAS, Council action authorizing submission of the claim is required by the rules and regulations governing the Transportation Development Act Funds, including StanCOG’s approved Transit Cost Sharing Procedures, before any LTF funding can be released to the City.

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves the submission of the City’s Local Transportation Funds Fiscal Year 2023-24 and 2024-25 Claim for Non-motorized Purposes (bike lanes and pedestrian pathways and local streets and roads interest) in the amount of $487,911 to the Stanislaus Council of Governments (StanCOG).

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. #8..
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02/25/2025/ENG/NHoux/Item XX 3 2025-XXX
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 25th day of February, 2025, 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, CMC,
City Clerk
(SEAL)
APPROVED AS TO FORM:

BY: _____________________________________
JOSE M. SANCHEZ, City Attorney
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02/25/2025/ESD/NHoux/Item xx 1 2025-xx

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-
RESOLUTION AMENDING THE FISCAL YEAR 2024-2025 CAPITAL
IMPROVEMENT PROGRAM BUDGET TO FUND PROJECT #100813
(VIRGINIA CORRIDOR PHASE VII) IN AN AMOUNT NOT TO EXCEED $645,521 IN TRANSFERS, REVENUE, AND TO BUDGET EXPENDITURES TO

FUND THE PROJECT, AND AUTHORIZING THE CITY MANAGER OR HIS

DESIGNEE, TO IMPLEMENT THE PROVISIONS OF THIS RESOLUTION WHEREAS, the Stanislaus Council of Governments (StanCOG) has informed the City that Local Transportation Funds (LTF) funds have been apportioned by StanCOG for allocation to the City; and
WHEREAS, this Claim for Non-motorized Purposes is the formal request by the City to StanCOG to release its apportionment of LTF funds for non-motorized and other purposes during the current fiscal year; and
WHEREAS, LTF funds provide the required local match for Federal funds received for the purpose of non-motorized and other projects (bicycle and pedestrian pathways and local streets and roads interest); and
WHEREAS, two percent (2%) of all LTF funds available to StanCOG are designated to be used for bicycle and pedestrian projects; and WHEREAS, when preparing the Fiscal Year 2023-2024 and 2024-2025 claim, it was noted that $157,610 in funding, accumulated in prior Fiscal Years, had not been budgeted to projects. The proposed budget adjustment will align the project budgets with the funding held in deferred revenue; and
WHEREAS, the City has prepared its LTF Claim for Fiscal Year 2023-2024 and 2024-2025 pursuant to Articles 4 and 8 of Chapter 4 of Part 11, Division 10 of the California Public Utilities Code; and
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02/25/2025/ESD/NHoux/Item xx 2 2025-xx
WHEREAS, Council action authorizing submission of the claim is required by the rules and regulations governing the Transportation Development Act Funds, including StanCOG’s approved Transit Cost Sharing Procedures, before any LTF funding can be released to the City; and
WHEREAS, $645,521 is available to be budgeted into the Fiscal Year 2024-2025 Capital Improvement Program Budget; and
WHEREAS, staff identified project #100813 – Virginia Corridor Phase VII to receive funding this fiscal year; and
WHEREAS, the Fiscal Year 2024-2025 Capital Improvement Budget must be amended to increase Project 100813 – Virginia Corridor Phase VII in a total amount of $645,521 to establish transfers, recognize revenue, and increase expenditures.

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that it hereby approves the amendments of the Fiscal Year 2024-2025 Capital Improvement Program Budget to fund project 100813 (Virginia Corridor Phase VII) in an amount not to exceed $645,521 in transfers, revenue and to budget expenditures to fund the project.

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. #8..
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02/25/2025/ESD/NHoux/Item xx 3 2025-xx
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 25th day of February, 2025, 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, CMC,
City Clerk
(SEAL)
APPROVED AS TO FORM:

BY: _____________________________________
JOSE M. SANCHEZ, City Attorney
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The City of Modesto hereby requests, in accordance with the Transportation Development Act and applicable rules and regulations, that its claim for other purposes be approved in the amount of for fiscal year 2023/24 and 2024/2025, to be drawn from the Local Transportation Fund.

When approved, please transmit this claim to the County Auditor for payment. Approval of the claim and payment by the County Auditor to this applicant is subject to such monies being on hand and available for distribution, and to the provisions that such monies will be used only in accordance with the terms contained in the approving resolution to the Stanislaus Council of Governments.

The claimant certifies that this Local Transportation Fund claim and the financial information contained therein is reasonable and accurate to the best of my knowledge and conforms with the requirements of the Transportation Development Act and applicable rules and regulations.

Submitted by:

Title:

Date:

StanCOG Board of Directors:

Date of approval:

Resolution #:

StanCOG Approving Authority

LOCAL TRANSPORTATION FUND
CLAIM FOR FISCAL YEAR 2023/24 & 2024/2025 OTHER PURPOSES

TRANSPORTATION DEVELOPMENT ACT
$ 487,911.00

Page 1 ends

TO: Stanislaus Council of Governments
1111 I Street, Suite 308
Modesto, CA 95354
FROM: Applicant: City of Modesto
Address: 1010 10th Street
City Modesto, CA Zip: 95354
Contact Person: Toby Wells / Alex Pena Phone: 571-5542 / 571-5511 E-mail Address: [email protected] Fax: 209-491-5992
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CLAIMANT: City of Modesto

1. Planning, Local
--PUC 99262/99402 $ -

2. Planning, Local Transit
_______________________ * $ -

3. Streets and Roads
--PUC 99400 (a)

4. Nonmotorized - 2% LTF funds
--PUC 99233.2/99234 $ 487,911.00

5. Nonmotorized - Other LTF funds
--PUC 99233.2/99234 $ -

6. TOTAL CLAIM $ 487,911.00
City of Modesto
Total LTF available to be claimed for other purposes:

FY 2023/24 Nonmotorized Apportionment $ 243,628
FY 2024/25 Nonmotorized Apportionment $ 244,283
Total 2% Nonmotorized $ 487,911.00
Total available to be claimed at this time $ 487,911.00 * If you have proposed transit expenditures, please fill in the appropriate PUC Code.

This table is to be filled out by StanCOG staff

LOCAL TRANSPORTATION FUND

CLAIM FOR OTHER PURPOSES
TABLE 1
FY 2023/24 and FY 2024/2025

Page 2 ends

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CLAIMANT: City of Modesto

ACTUAL /
B P P PROJECT PROJECT 2022/23 2023/24 2024/25 ESTIMATED

I E L IN IN ACTUAL ACTUAL CLAIM EXPENDITURES
K D A StanCOG's CITY/CO EXPENDITURES EXPENDITURES FOR 3 YEAR

E N BIKE BIKE PERIOD
ID PROJECT TITLE PLAN * PLAN *
100692 Bike Lane Striping x YES $0.00 $0.00 $60,456.85 $60,456.85 100813 Virginia Corridor Phase VII x x YES $22,577.41 $39,301.67 $2,125,532.91 $2,187,411.99 101232 TRRP Riverwalk Prjct: Gateway to Legion x x YES YES $65,693.37 $119,603.61 $4,462.02 $189,759.00 $88,270.78 $158,905.28 $2,190,451.78 $2,437,627.84
2020/21 2021/22 2022/23 2023/24 2024/25 5 Year
Actual Actual Actual Actual Claim Total
Bicycle facilities $143,101.52 $1,412.42 $44,135.39 $79,452.64 $1,125,454.32 $1,393,556.29 Pedestrian facilities $142,784.42 $354.19 $44,135.39 $79,452.64 $1,064,997.47 $1,331,724.11 Preparation of Bicycle Plan $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $285,885.94 $1,766.61 $88,270.78 $158,905.28 $2,190,451.78 $2,725,280.39 YES
StanCOG 50% bicycle expenditure requirement: The 5 year bicycle expenditures must be 50% or greater. 2021/22 2022/23 2023/24 24/25
Fiscal year beginning fund balance $1,230,461.24 $1,494,791.47 $1,763,533.46 $1,946,168.78 Plus fiscal year 2% nonmotorized claim $265,431.27 297,316 $ $ 243,628 $ 244,283 Plus interest $665.57 $59,696.77 $97,912.60 $0.00
Minus nonmotorized expenditures ($1,766.61) ($88,270.78) ($158,905.28) $0.00 $1,494,791.47 $1,763,533.46 $1,946,168.78 $2,190,451.78

1. Prior year(s) LTF carryover held by jurisdiction applied towards FY 2024/25 Nonmotorized claim (TABLE 4)

3. FY 2023/24 and 2024/25 Nonmotorized 2% funds applied towards FY 2024/25 projects (must match Page 2, Line 4)

4. FY 2024/25 Other LTF funds applied towards Nonmotorized claim (must match Page 2, Line 5)

5. FY 2024/25 Nonmotorized 2% funds to be held at StanCOG

6. Total of lines #1 through #5 above
$158,275
* SEE PAGE 3b FOR NONMOTORIZED REGULATIONS/POLICIES AND NOTES $0
$487,911
$2,190,452
$0

2. Interest earned on previously paid LTF funds held by jurisdiction (required by State law) (TABLE 4) $1,544,266

NONMOTORIZED PROJECTS
(Use additional forms if necessary)
BRIEFLY DESCRIBE PROJECTS AND EXPENDITURES INCLUDED IN THE 3 YEAR PERIOD BELOW FY 2023/24 and FY 2024/2025

RECORD LTF FUNDS ONLY
TABLE 3

TOTAL AMOUNT OF BIKE/PED EXPENDITURES
% of Total
TABLE 4
TABLE 2

FOR BIKE PROJECTS ONLY

BREAKDOWN BY PROJECT

BREAKDOWN BY CATEGORY

TOTAL FUNDS APPROPRIATED TO PROJECTS
Fiscal year ending fund balance
MODE
Expenditures

51.13%

48.87%

0.00%
DOES THIS CLAIM MEET THE MINIMUM 50% BICYCLE EXPENDITURE STANCOG PERFORMANCE STANDARD?

RECORD LTF FUNDS ONLY

FUNDS HELD IN RESERVE AT JURISDICTION

Page 3 ends

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CLAIMANT: City of Modesto
NONMOTORIZED REGULATION/POLICY REMINDERS:

D. All funds must be spent within five years of receipt. Over the five-year period shown in Table 3, at least 50% of funds must be spent for bicycle purposes. StanCOG will not allocate funds to any jurisdiction which is in violation of these policies.

NOTES:
* By StanCOG policy, all bike projects must appear in either StanCOG's Bicycle Action Plan, or in a City or County bicycle plan, to be eligible for LTF funding. ** Beginning with FY 2003/04, nonmotorized funds will only be allocated by StanCOG for specific projects.

If no project is identified, funds will be held in reserve at StanCOG for eventual use by that jurisdiction. other sources to fund bicycle safety education programs, but the funds shall not be used to fully fund the

NONMOTORIZED PROJECTS
FY 2023/24 and FY 2024/2025
(Continued)
C. State law allows a jurisdiction to use up to 5% of the amount available each year to supplement moneys from lanes (PUC 99234(h)).
salary of any one person (PUC 99233.3).

A. State law allows a jurisdiction to use LTF to update a Bicycle Action Plan once every five years (PUC 99234(h)).

B. State law allows a jurisdiction to use up to 20% of the amount available each year to restripe Class II bicycle

Page 3 ends

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CLAIMANT: City of Modesto

ANNUAL PROJECT AND FINANCIAL PLAN

PROJECTS FOR OTHER PURPOSES
FY 2023/24 and FY 2024/2025
(Use additional forms as necessary)
TABLE 5
Will this Project Will this Project Is this Project Total LTF add new use Federal consistent with Project Funds
travel lanes? Funds? the RTP Cost Utilized
Yes or No Yes or No Yes or No

TOTAL - -

1. LTF carryover applied towards FY 2023/24 Other Purposes

2. Interest earned on LTF carryover (required by State law)

3. FY 2023/24 apportionment applied towards FY 2023/24 Other Purposes

4. Total of Lines 1, 2 and 3 above
-
-
Project Title & Brief Description
Briefly describe all proposed projects and indicate proposed project expenditures -
-

Page 4 ends

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TO: Staff Report
Resolution
FROM:

DATE:

SUBJECT:

Policy Board
Vanessa Portillo, Director of Finance
Isabel Garcia, Financial Services Specialist II
June 13, 2023
Revised FY 2023/24 Local Transportation Funds (LTF)
Apportionments
_________________________________________________________________________________ Recommendation
By Motion:

Approve by Resolution 22-71:

1. Approve the Revised FY 2023/24 Local Transportation Funds (LTF) apportionment as shown in Schedule 1, columns 4 through 6, which is based on the estimate provide by the County Auditor-Controller

2. The Remaining Distribution of FY 2023/24 Local Transportation Funds (LTF) adjusted $26,903,532.

3. The calculated FY 2023/23 Transit Ceiling Caps includes State Transit Assistance (STA) and Local Transportation Fund (LTF) as shown in Schedule 2 table, which is based on the estimate provided by the State Controller.

Background
As the Regional Transportation Planning Agency (RTPA) for the Stanislaus region, StanCOG administers and distributes Transportation Development Act (TDA) funds. TDA consists of two types of funds: Local Transportation Funds (LTF) and the much-smaller State Transit Assistance (STA) Funds. LTF is derived from 1/4 cent retail sales tax collected statewide, then returned to each county according to the amount of tax collected in that county. STA is derived from the statewide sales tax on gasoline and diesel fuel.

Stanislaus County is unique with regard to the allocation of TDA funds. In 1997, Senate Bill 344 created a new section in the TDA (PUC Section 99233.11) in which StanCOG shall use the cost sharing criteria approved by the StanCOG Policy Board. These criteria have been incorporated Item 7E
49 #8..
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into a document called the Transit Cost Sharing Procedures (TCSP).

The TCSP process consists of three steps:

1. Initial Local Transportation Funds and State Transit Assistance Funds Apportionment Per TDA regulations, StanCOG is to receive an LTF estimate from the County AuditorController by February 1, each year. At their January meetings the Management and Finance Committee, and the Executive Committee recommended the transmittal of an LTF estimate of $32,000,000 to the County Auditor-Controller for Fiscal Year (FY) 2023/24.

The estimate was intended to provide input for the Auditor-Controller’s consideration.

The State Controller’s Office is required to provide the FY 2023/24 preliminary STA estimate by January 31. STA funds may only be used for transit. STA is comprised of two parts: PUC 99313 and PUC 99314. The population portion is allocated under 99313 and is the larger portion of STA funds received by StanCOG. According to the TCSP, the Stanislaus Regional Transit Authority (StanRTA) will claim PUC 99313 funds. The operator revenue portion of STA funds are allocated based on operator revenues from the prior fiscal year. Those funds are covered under PUC 99314. By law, the PUC 99314 funds must be allocated to the specified operators.

2. Determine the LTF Needed for Transit
The Transit Cost Sharing Committee meets in April to determine the LTF needed for transit.

3. The Remaining Distribution of the LTF will be held in reserves for future regional transit projects. This will be determined after Transit Cost Sharing process is complete in April.

Discussion
Two administrative errors were found in the February 15 calculation of LTF remaining for transit.

1. The StanRTA Transit Center Regional Claim of $300,000 was not included in the calculation.

2. The conditional estimate for the Consolidated Transportation Service Agency (MOVE) was incorrect; the estimate was $1,435,441 and should have been $1,505,280.

Based on the TDA and Step 1 of Transit Cost Sharing Procedures, the apportionments are determined as follows:

1. FY 2023/24 LTF Estimate- On January 18, 2023, StanCOG received from the AuditorController the FY 2023/24 LTF estimate of $32,000,000 (Attachment 1). StanCOG staff concurred with the Auditor- Controller’s estimate.

The STA estimate has been received from the State Controller. StanCOG staff has updated Schedule 1 with FY23-24 estimates.

2. 1% of LTF Funds are designated for TDA administration for FY 2023/24, an amount of $320,000 is identified for TDA administration.
50 #8..
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3. According to TDA statute, 3% of annual revenues may be claimed for transportation planning purposes. Staff recommends $960,000 for FY 2023/24.

4. 2% of the remaining LTF funds may be apportioned for pedestrian and bicycle facilities. For FY 2023/24, $614,400 will be available for bicycle and pedestrian claims.

5. Conditional deductions from LTF funds are made for Regional Transit Projects. An amount of $1,696,788 (includes revision of $300k for StanRTA) is identified for Regional Transit Projects. These amounts will be presented for Policy Board recommendation by the Transit Cost Sharing Committee in Step 2.

6. Conditional deductions from LTF funds are made for the Consolidated Transportation Services Agency (CTSA). The estimated LTF for CTSA is $1,505,280 (includes revision). The actual amount claimed will be presented for Policy Board recommendation by the Transit Cost Sharing Committee in Step 2.

7. Determination of remaining TDA funds (LTF and STA) is applied to the most recently adopted Transit Percentage Ceiling Caps. This sets the amount of TDA funds that each transit agency may claim. Current ceiling cap percentages are 87% for StanRTA and 13% for Turlock Transit.

The amount will be identified as one lump sum, remaining TDA funds, not needed to fund transit, will be held in regional reserves in accordance with Step 3 of the Transit Cost Sharing Procedures.

Advisory Committee Action
This item was presented to the Social Services Transportation Advisory Council Committee, Management and Finance Committee, and Executive Committee at their June meetings. They unanimously concurred with the staff’s recommendations.

Should you have any questions regarding this staff report, please contact Vanessa Portillo, Director of Finance, at 209-525-4640 or via e-mail at [email protected].

Attachments:

1. Schedule 1: Initial LTF and STA Apportionment for FY 2023/24 (adjusted with STA estimates)

2. Schedule 2: Calculation of Transit Ceiling CAPS for FY 2023/24 (adjusted with STA estimates)

3. Resolution 22-71
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52 #8..
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APPORTIONMENT BASED ON $32,000,000 OF LTF *
Column Column Column Column Column Column Column Column Column #1 #2 #3 #4 #5 #6 #7 #8 #9
JURISDICTION POPULATION % OF TDA PLANNING NONMOTORIZED REMAINING 2023/24 STA 2023/24 STA POPULATION ADMIN (2% LTF) LTF PUC 99313 PUC 99314
Note 1 Note 2 and 3 Note 2 and 3
CERES 48,386 8.8060% 54,105
HUGHSON 7,495 1.3641% 8,381
MODESTO 217,880 39.6530% 243,628NEWMAN 12,244 2.2283% 13,691 OAKDALE 23,071 4.1988% 25,797PATTERSON 24,370 4.4352% 27,250 RIVERBANK 24,583 4.4740% 27,488
TURLOCK 71,531 13.0183% 79,984 27,988
WATERFORD 8,872 1.6147% 9,920
COUNTY (UNINC.) 111,034 20.2076% 124,156
STANRTA 6,556,304 393,014StanCOG 320,000 960,000REMAINING LTF 30,105,600TOTAL 549,466 100.0000% 320,000 960,000 614,400 30,105,600 6,556,304 421,002 * Local Transportation Fund estimate received from County Auditor-Controller, letter dated 1/18/23 TDA Admin 320,000 Planning 960,000
Note 1: January 2022 population estimates from the Dept. of Finance for 1/1/22 Nonmotorized 614,400 STA PUC 99313 6,556,304Note 2: State Transit Assistance estimate to be received from the State Controller's Office by 1/31/23 Remaining LTF (input to Step 2) 30,105,600 STA PUC 99314 421,002 Total LTF 32,000,000 6,977,306
Remaining LTF 30,105,600
Apportioned numbers are bolded (509,864)
StanRTA Transit Center Capital (300,000)StanRTA Amtrak Operating (238,228)StanRTA Amtrak Capital 0 (648,696)
000
(1,505,280)
Adjusted Remaining LTF 26,903,532
Turlock Amtrak Station OperatingTurlock Amtrak Station CapitalConditional CTSA StanRTA Transit Center OperatingTurlock Transit Center OperatingTurlock Transit Center Capital STEP 1: INITIAL LOCAL TRANSPORTATION FUND (LTF) AND STATE TRANSIT ASSISTANCE (STA) APPORTIONMENT FOR FY 2023/24
SCHEDULE 1
January 31, 2023 REVISED
FY22/23 STA Estimate
53 #8..
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STANISLAUS COUNCIL OF GOVERNMENTS

TRANSPORTATION DEVELOPMENT ACT (TDA)

LOCAL TRANSPORTATION FUND (LTF) AND STATE TRANSIT ASSISTANCE (STA) CALCULATION OF TRANSIT CEILING CAPS FOR FY 2023/24
SCHEDULE 2 (INCLUDES STA)
JANUARY 31, 2023 REVISED
Transit Operator
Transit Ceiling
Cap %LTF STA PUC 99313
Operator's Share
of Regional TDA
Add STA PUC
99314
Amount Available
to Claim
SRTA 87.0% 22,553,753 6,556,304 29,110,057 393,014 29,503,071 Turlock 13.0% 4,349,779 4,349,779 27,988 4,377,767
Totals 100% 26,903,532 6,556,304 33,459,836 421,002 33,880,838 Local Transportation Funds (LTF) Available From Step 1 26,903,532 State Transit Assistance (STA) PUC 99313 6,556,304
State Transit Assistance (STA) PUC 99314 421,002
Total TDA funds to be shared by the region 33,880,838
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STANISLAUS COUNCIL OF GOVERNMENTS
RESOLUTION 22-71
APPROVING THE FY 2023/24 LOCAL TRANSPORTATION FUNDS (LTF)

APPORTIONMENTS
WHEREAS, the Stanislaus Council of Governments (StanCOG) is a Regional Transportation Planning Agency and a Metropolitan Planning Organization, pursuant to State and Federal designation; and
WHEREAS, StanCOG has been designated as the Transportation Planning Agency with the responsibility to administer the Transportation Development Act, including the apportionment and allocation of Local Transportation Funds (LTF) and State Transit Assistance (STA) Funds; and
WHEREAS, each year StanCOG adopts LTF and STA apportionments.

NOW THEREFORE BE IT RESOLVED, that based on the Rules and Regulations governing the Transportation Development Act funds, including StanCOG's approved Transit Cost Sharing Procedures, the Stanislaus Council of Governments Policy Board adopts:

1. The Revised FY 2023/24 Local Transportation Funds (LTF) apportionments as shown in Schedule 1, columns 4 through 6, which is based on the estimate provided by the County Auditor-Controller.

2. The Remaining Distribution of FY 2023/24 Local Transportation (LTF) adjusted $26,903,532.

3. The calculated FY 2023/23 Transit Ceilings Caps includes State Transit Assistance (STA) and Local Transportation Fund (LTF) as shown in Schedule 2 table, which is based on the estimate provided by the State Controller.

BE IT FURTHER RESOLVED, that the Executive Director, or the Policy Board Chair of StanCOG, or his/her designee, is hereby authorized and empowered to execute in the name of Stanislaus Council of Governments all necessary applications, contracts and agreements and amendments thereto to implement and carry out the purposes specified in this resolution.

BE IT FURTHER RESOLVED, that the Executive Director is authorized to make administrative changes as needed, to ensure that the program is implemented in the most efficient and cost effective manner possible.

The foregoing Resolution was introduced at a regular meeting of the Stanislaus Council of Governments, on 21st day of June, 2023. A motion was made and seconded to adopt the foregoing Resolution. Motion carried and the Resolution was adopted. 55 #8..
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MEETING DATE: June 21, 2023

JAVIER LOPEZ, CHAIR
ATTEST:
___________________________________________
ROSA DE LEÓN PARK, EXECUTIVE DIRECTOR
56 #8..
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TO: Policy Board Staff Report
Motion
FROM: Jean Foletta, Director of Mobility Services
Enrique Paez, Financial Services Specialist II
DATE: June 10, 2024
SUBJECT: FY 2024/25 Transportation Development Act (TDA) Apportionments for Transit and Other Purposes and FY 2024/25 Allocations for Transit Recommendation
By Motion:

1. Recommend the Policy Board approve by Resolution 23-30 the FY 2024/25 Transportation Development Act (TDA) Apportionments for Transit and Other Purposes (as shown on Schedule 1); and

2. Recommend the Policy Board approve by Resolution 23-30 the FY 2024/25 TDA Allocations for Transit (as shown on Schedule 2).

Background
Every year, StanCOG distributes approximately $32 million in Transportation Development Act (TDA) funds to the jurisdictions and transit operators within Stanislaus County. TDA provides two funding sources for public transportation: the Local Transportation Fund (LTF) and the State Transit Assistance (STA). LTF funds are primarily intended for transit, whereas STA funds are primarily intended for transportation planning and mass transportation purposes.

StanCOG has adopted the Transit Cost Sharing Procedures (TCSP) to guide the allocation process.

The Transit Cost Sharing Procedures consist of three steps:

Step 1: Initial LTF and STA Estimated Apportionments
Step 2: Determine LTF Needed for Transit
Step 3: Determine the Amount for Reserves
For Step 1, on February 21, 2024, the Policy Board approved the FY 2024/25 LTF and STA Apportionments based on estimates provided by the County Auditor-Controller and the State Controller’s Office identified in the table below:

Item 7B
39 #8..
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Agency Fund FY 2023/24 Estimated
Allocation
County Auditor-Controller Local Transportation Fund $32,000,000 State Controller’s Office State Transit Assistance $6,732,726 On an annual basis, it is necessary to provide an analysis of the adequacy of existing public transportation services and specialized transportation services necessary to implement the plan prepared pursuant to Section 12143(c)(7) of Title 42 of the United States Code. Per TDA statutes, any Unmet Transit Needs (UTN), deemed reasonable to meet, must be funded before LTF funding is spent for Other Purposes.

The adopted FY 2024/25 UTN Analysis Report can be found using the link below and includes all outreach that was completed as part of the FY 2024/25 UTN Process. Through this process it was found that there were no UTNs that were reasonable to meet, Draft-Fiscal-Year-202425-Unmet-Transit-Needs-Analysis-Report (stancog.org) Step 2 of the Transit Cost Sharing Procedures requires the Transit Cost Sharing Committee (TCSC) to determine the amounts needed for transit and reserves. The TCSC met on May 2, 2024, to review transit claims submitted by the City of Turlock (Turlock Transit), the Stanislaus Regional Transit Authority (StanRTA), and the Consolidated Transportation Services Agency MOVE Stanislaus. The TCSC makes their recommendation to the StanCOG’s Citizens Advisory Committee, Social Services Transportation Advisory Council, Management and Finance Committee, Executive Committee, and the Policy Board on the TDA apportionments and total LTF needed for transit for FY 2024/25.

Exhibit A shows the breakdown of LTF and STA funds and includes costs for StanCOG TDA administration, Planning, Nonmotorized, the Conditional Apportionment for MOVE, and outlines the regional projects for transit which leaves a balance of $26,719,886 applied to the apportionments for StanRTA and Turlock Transit along with the STA 99313 and 99314.

Exhibit B details the amounts that StanRTA and Turlock Transit may claim after applying the Transit Ceiling Cap calculation based on population.

To be eligible to receive TDA funding, all claimants must complete an annual TDA audit. TDA audits are due on December 31st of every year. The FY 2022/23 TDA audit for MOVE Stanislaus contains no audit findings or recommendations. The FY 2022/23 StanRTA TDA Audit is expected in June 2024, and the Turlock Transit Audit is expected in September 2024. Any recommendations for Policy Board apportionment and allocation for the StanRTA and Turlock Transit Claim will be conditional upon receipt of the FY 2022/23 TDA audit.

Step 3 of the Transit Cost Sharing Procedures determines the amount to be held in reserves. Based upon the recommendation in Step 2, $26,719,886 is needed for the transit claims with remaining LTF funds of $0 available to be held in reserves for future transit use.

The transit claims were reviewed by staff and were determined to be complete.

Advisory Committee Action
This item was presented to the Executive Committee on June 3, 2024, the Social Services 40 #8..
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Transportation Advisory Council on June 4, 2024, and the Management and Finance Committee on June 5, 2024. The Executive Committee, the Social Services Transportation Advisory Council, and the Management and Finance Committee all concurred with the recommendation.

Should you have any questions regarding this staff report, please contact Rosa De León Park, Executive Director at 209-525-4600 or via e-mail at [email protected].

Attachments:

1. Resolution 23-30

2. Schedule 1: FY 2024/25 TDA Apportionments

3. Schedule 2: FY 2024/25 Determine LTF Needed for Transit 41 #8..
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42 #8..
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STANISLAUS COUNCIL OF GOVERNMENTS
RESOLUTION 23-30
APPROVING THE FY 2024/25 TRANSPORTATION DEVELOPMENT ACT APPORTIONMENTS FOR TRANSIT AND OTHER PURPOSES AND THE FY 2024/25

ALLOCATIONS FOR TRANSIT
WHEREAS, the Stanislaus Council of Governments (StanCOG) is a Regional Transportation Planning Agency and a Metropolitan Planning Organization, pursuant to State and Federal designation; and
WHEREAS, StanCOG has been designated as the Transportation Planning Agency with the responsibility to administer the Transportation Development Act (TDA), including the apportionment and allocation of Local Transportation Funds (LTF) and State Transit Assistance (STA) Funds; and
WHEREAS, each year StanCOG adopts LTF and STA apportionments; and.

WHEREAS, each year StanCOG recommends allocations for transit consistent with the adopted Transit Cost Sharing Procedures.

NOW THEREFORE BE IT RESOLVED, that based on the Rules and Regulations governing the TDA funds, including StanCOG's approved Transit Cost Sharing Procedures, the Stanislaus Council of Governments Policy Board adopts:
1 The FY 2024/25 Transportation Development Act Apportionments for Transit and other Purposes as shown on the attached Schedule 1; and 2 The FY 2024/25 Transportation Development Act Allocations for Transit as show on the attached Schedule 2.

BE IT FURTHER RESOLVED, that the Executive Director is hereby authorized and empowered to execute in the name of Stanislaus Council of Governments all necessary applications, contracts and agreements and amendments thereto to implement and carry out the purposes specified in this resolution.

BE IT FURTHER RESOLVED that the Executive Director is authorized to make administrative changes as needed, to ensure that the program is implemented in the most efficient and cost-effective manner possible.

The foregoing Resolution was introduced at a regular meeting of the Stanislaus Council of Governments, on 20th day of June 2024. A motion was made and seconded to adopt the foregoing Resolution. Motion carried and the Resolution was adopted.

MEETING DATE: June 20, 2024

JAVIER LOPEZ, CHAIR
43 #8..
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ATTEST:
___________________________________________
ROSA DE LEÓN PARK, EXECUTIVE DIRECTOR
44 #8..
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① APPORTIONMENT BASED ON LTF ESTIMATE OF: $32,000,000
Column #1 Column #2 Column #3 Column #4 Column #5 Column #6 Column #7 Column #8 Column #9 % OF NONMOTORIZED REMAINING ③ 2024/25 STA ③ 2024/25 STA POPULATION (2% LTF) LTF PUC 99313 PUC 99314
CERES 47,729 8.7426% 53,731
HUGHSON 7,565 1.3857% 8,516
MODESTO 216,995 39.7471% 244,283
NEWMAN 12,040 2.2054% 13,554
OAKDALE 22,980 4.2093% 25,870
PATTERSON 24,317 4.4542% 27,375
RIVERBANK 24,695 4.5234% 27,800
TURLOCK 70,856 12.9787% 79,766 13,222
WATERFORD 9,042 1.6562% 10,179
COUNTY (UNINC.) 109,720 20.0975% 123,518
STANRTA 6,528,411 191,093
StanCOG 320,000 950,400
REMAINING LTF 30,115,008
TOTAL 545,939 100.0000% 320,000 950,400 614,592 30,115,008 6,528,411 204,315 NOTES
1 Local Transportation Fund estimate received from County Auditor-Controller, letter dated 1/31/24 2 January 2023 population estimates from the Department of Finance for 1/1/23 3 State Transit Assistance estimate received from the State Controller's Office 2/1/24 Apportioned numbers are bolded

LTF SUMMARY
LTF Estimate 32,000,000
TDA Admin (320,000)
Planning (950,400)
Nonmotorized (614,592)
Remaining LTF 30,115,008
Conditional CTSA (1,505,750)
Remaining LTF 28,609,258
StanRTA Transit Center Operating (826,683)
StanRTA Transit Center Capital 0
StanRTA Amtrak Operating (93,921)
StanRTA Amtrak Capital 0
Turlock Transit Center Operating (648,865)
Turlock Transit Center Capital (15,000)
Turlock Amtrak Operating (4,154)
Turlock Amtrak Capital 0
MOVE ADA Eligibility (300,749)
Remaining LTF (Transfer to Schedule 2) 26,719,886
JURISDICTION ② POPULATION TDA ADMIN PLANNING
STEP 1: INITIAL LOCAL TRANSPORTATION FUND (LTF) AND STATE TRANSIT ASSISTANCE (STA) APPORTIONMENT FOR FY 2024/25
SCHEDULE 1
January 31, 2024
51 #8..
75 Transit Operator
Transit Ceiling
Cap % LTF STA PUC 99313
Operator's Share of
Regional TDA
Add STA PUC
99314
Amount Available
to Claim
StanRTA 87.0% 23,246,300 6,528,411 29,774,711 191,093 29,965,804 City of Turlock 13.0% 3,473,585 3,473,585 13,222 3,486,807 Total 100% 26,719,886 6,528,411 33,248,297 204,315 33,452,612 Local Transportation Funds (LTF) Available From Step 1 26,719,886 State Transit Assistance (STA) PUC 99313 6,528,411
State Transit Assistance (STA) PUC 99314 204,315
Total TDA funds to be shared by the region 33,452,612

STANISLAUS COUNCIL OF GOVERNMENTS

TRANSPORTATION DEVELOPMENT ACT (TDA)

LOCAL TRANSPORTATION FUND (LTF) AND STATE TRANSIT ASSISTANCE (STA) CALCULATION OF TRANSIT CEILING CAPS FOR FY 2024/25
SCHEDULE 2 (INCLUDES STA)
January 31, 2024
52 #8..
76 CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

February 25, 2025
Date: February 5, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Toby Wells, Director of Engineering Services/City Engineer SUBJECT: Accept Empire Yosemite Boulevard Water Main Crossings Strengthen & Replace Project
CONTACT: Peter Kambel, Senior Civil Engineer, [email protected] , 209-577-5444 DESCRIPTION:

Consider accepting the Empire Yosemite Boulevard Water Main Crossings Strengthen & Replace Project as complete, releasing securities, releasing payments totaling $1,125,289 to DDS Company, doing business as (DBA) Knife River Construction, of Stockton, CA, and authorizing the City Clerk to file a Notice of Completion. (Funding Source: Water Fund) STRATEGIC PLAN ELEMENT:

The recommended action supports the City’s 2020-2025 City of Modesto Strategic Plan Initiatives, Goal D: Provide safe, efficient, and reliable infrastructure through proactive community investment, maintenance, and sustainability efforts.

BACKGROUND:

The existing water main crossings serving the Empire Yosemite Boulevard area was aging and the steel main was undersized.

This project improved nearly 1,400 linear feet of water main along Yosemite Boulevard. The results of this project are improved system reliability by increasing water pressure for the residents, as well as increased flow to fire suppression systems via fire hydrants.

DISCUSSION:

The Empire Yosemite Boulevard Water Main Crossings Strengthen & Replace project was advertised for bids on June 1, 2023. Bids were publicly opened on June 27, 2023, and DDS Company, DBA Knife River Construction, of Stockton, CA, was the lowest responsive and responsible bidder at 9.88% above the engineer’s estimate. #9..
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City Council, February 25, 2025
Accept Empire Yosemite Boulevard Water Main Crossings
Strengthen & Replace Project

Page 2 of 3 ends

On September 12, 2023, by Resolution 2023-414, Council awarded a contract to DDS Company, DBA Knife River Construction, in the amount of $1,096,065. The Contractor received the Notice to Proceed with a start date of December 4, 2023. All contract work was completed on May 21, 2024.

By accepting this project as complete, the City officially accepts the improvements made and authorizes the Notice of Completion to be filed. The City Clerk is authorized to complete all the necessary steps to file Notice of Completion with the County Recorder, release securities, and authorize payments totaling $1,125,289. The work is covered by a one-year warranty for any issues that may arise.

Staff recommends the project for acceptance as the contractor has complied with all contract requirements for the project.

FISCAL IMPACT:

The total project costs were $1,216,190 which included design, construction, and construction administration costs. The total project amount originally budgeted was $1,463,925, which included $1,260,475 for the construction contract and contingency with DDS Company, DBA Knife River Construction.

The City’s “Change Order Approval Policy” enacted by Council Resolution No. 94-443 on July 19, 1994, updated by Resolution No. 2019-326 on July 9, 2019, and updated by Resolution No. 2023- 405 on September 12, 2023 established a contract change order authority of ten percent (10%) for construction contracts of this dollar value. However, after reviewing the plans and specifications, and given the nature of the rehabilitation projects, it was deemed likely that this project would exceed the Director Authority. Therefore, staff requested that the Director’s Authority to issue change orders be increased to 15% ($164,410) of the Construction Contract amount pursuant to Resolution No. 2023-24 approved on September 12, 2023.

There were seven (7) change orders resulting in an overall increase of $29,224 for change order work as listed on the attached change order log. A summary of the expenditures for the overall project is listed below.
101458– Empire Yosemite Boulevard Water Main Crossings Strengthen & Replace Project Totals
PROJECT EXPENDITURES:

Construction Contract (Knife River Construction) $1,096,065 Construction Contingency (Change Orders) 2.7% $29,224
City Construction Forces 0.9% $9,585
Construction Administration – City Staff Support 4.8% $52,411 Engineering Design/Admin. – City Staff Support/Misc. 2.6% $28,905 TOTAL CONSTRUCTION EXPENDITURES: $1,216,190
COMMITTEE RECOMMENDATION:

This item was considered by the Economic Development Committee at the August 7, 2023, meeting where it was recommended that it be forwarded to Council. #9..
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City Council, February 25, 2025
Accept Empire Yosemite Boulevard Water Main Crossings
Strengthen & Replace Project

Page 3 of 3 ends

CEQA/NEPA REQUIREMENTS:

Environmental review has been provided through a Categorical Exemption under CEQA Section 15301 Class 1(b)(c); 15303 (d).

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution accepting the Empire Yosemite Boulevard Water Main Crossings Strengthen & Replace Project as complete, releasing securities, releasing payments totaling $1,125,289 to DDS Company, doing business as (DBA) Knife River Construction, of Stockton, CA, and authorizing the City Clerk to file a Notice of Completion.

Approved by:

_________________________________________
Toby Wells, Director of Engineering Services/
City Engineer
_________________________________________
Joseph P. Lopez, City Manager
Attachments:

1. Resolution

2. Contract Change Order Log

3. Project Suspension Form

4. Notice of Completion
#9..
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02/25/2025/ESD/PKambel 1 2025-??

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-XX

RESOLUTION ACCEPTING THE EMPIRE YOSEMITE BOULEVARD WATER

MAIN CROSSINGS STRENGTHEN & REPLACE PROJECT AS COMPLETE, RELEASING SECURITIES, RELEASING PAYMENTS TOTALING $1,125,289

TO DDS COMPANY, DOING BUSINESS AS KNIFE RIVER CONSTRUCTION

OF STOCKTON, CA, AND AUTHORIZING THE CITY CLERK TO FILE A

NOTICE OF COMPLETION
WHEREAS, the existing water main crossings serving the Empire Yosemite Boulevard area was aging and the steel main was undersized; and WHEREAS, this project improved nearly 1,400 linear feet of water main along Yosemite Boulevard; and
WHEREAS, the results of this project are improved system reliability by increasing water pressure for the residents, as well as increased flow to fire suppression systems via fire hydrants; and
WHEREAS, the Empire Yosemite Boulevard Water Main Crossings Strengthen & Replace project was advertised for bids on June 1, 2023; and WHEREAS, bids were publicly opened on June 27, 2023; and WHEREAS, DDS Company, DBA Knife River Construction, of Stockton, CA, was the lowest responsive and responsible bidder at 9.88% above the engineer’s estimate; and
WHEREAS, on September 12, 2023, by Resolution 2023-414, Council awarded a contract to DDS Company, DBA Knife River Construction, in the amount of $1,096,065; and
WHEREAS, the contractor received the Notice to Proceed with a start date of December 4, 2023. All contract work was completed on May 21, 2024; and #9..
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02/25/2025/ESD/PKambel 2 2025-??
WHEREAS, the total project costs were $1,216,190 which included design, construction, and construction administration costs. The total project amount originally budgeted was $1,463,925, which included $1,260,475 for the construction contract and contingency with DDS Company dba Knife River Construction; and WHEREAS, there were seven change orders resulting in an overall increase of $29,224 for change order work as listed on the attached change order log; and WHEREAS, the City’s “Change Order Approval Policy” enacted by Council Resolution No. 94-443 on July 19, 1994, updated by Resolution No. 2019-326 on July 9, 2019, and updated by Resolution No. 2023-405 on September 12, 2023, established a contract change order authority of ten percent (10%) for construction contracts of this dollar value. However, after reviewing after reviewing the plans and specifications, and given the nature of the rehabilitation projects, it was deemed likely that this project would exceed the Director Authority; and
WHEREAS, staff requested that the Director’s Authority to issue change orders be increased to 15% ($164,410) of the Construction Contract amount pursuant to Resolution No. 2023-24 approved on September 12, 2023; and
WHEREAS, by accepting this project as complete, the City officially accepts the improvements made and authorizes the City Clerk to file a Notice of Completion.

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that the Empire Yosemite Boulevard Water Main Crossings Strengthen & Replace project is hereby accepted as complete, and that the City Clerk is authorized to complete all necessary steps to file the appropriate notices and documents with the County Recorder, #9..
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02/25/2025/ESD/PKambel 3 2025-??
release securities, and authorize payments totaling $1,125,289 to the contractor DDS Company, DBA Knife River Construction, of Stockton, CA.

The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 25th day of February, 2025, 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, CMC,
City Clerk
(SEAL)
APPROVED AS TO FORM:

BY: ______________________________________
JOSE M. SANCHEZ, City Attorney
#9..
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CHANGE
ORDER
NO. DESCRIPTION EXECUTED AMOUNT
CAUSE

UNFORSEEN

CONDITIONS
DESIGN
ISSUE
ADDED
SCOPE

CONTRACT CHANGE ORDER LOG
Date: January 14, 2025
TIME
EXT. Approved
2023/12 - Empire Yosemite Blvd. Water Main Crossings S&R (101458) TERRACON PROJECT NUMBER AND NAME:
01 Additional Water Sevice at 5128 Yosemite Blvd. 05/23/24 $1,500.00 0 W.D. No No Yes Yes 02 Relocated Fire Hydrant due to RFI No. 4 Response 07/04/24 $9,444.00 0 W.D. No Yes No Yes 03 Mainline Offsets and Additional Excavation to Avoid
Existing Utility Conflicts not shown on Plans. 9 Additional Working Days
07/04/24 $37,739.69 9 W.D. No Yes No Yes
04 Cozeep for Mainline Offset Work 07/04/24 $4,543.20 0 W.D. No Yes No Yes 05 Abbie Street Connection and 16 Additional Working Days 09/19/24 $26,631.02 16 W.D. No Yes No Yes 07 Conditions in the field make it necessary to
increase/decrease quantities to reflect to construct
project as designed.
12/30/24 -$50,633.77 No Yes No Yes
Total Change Orders Processed To Date: $29,224.14
Original Contract Amount: $1,096,065.00
IDA To:

Total Working Days Time Extension: 25
Original Director's CCO Authority: $164,410.00
IDA Date:

Total Executed Change Orders To Date: $29,224.14
#9..
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CHANGE
ORDER
NO. DESCRIPTION EXECUTED AMOUNT
CAUSE

UNFORSEEN

CONDITIONS
DESIGN
ISSUE
ADDED
SCOPE

CONTRACT CHANGE ORDER LOG
Date: January 14, 2025
TIME
EXT. Approved
#9..
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Date:

Fund/Cost Center:

Contact: Pete Kambel Ext. 75444
Capital/Non‐Capital Project (CIP) #:

Project Creation: Non‐Capital or Capital Project (Check One) Non‐Capital Capital Project Name:

Project Description:

Council Acceptance/Project Completion Date:

Warranty Period (Yes/No) Yes Project Warranty End Date:

Final Construction Contract Amount (including change orders): to date Amount of Construction Cost categorized as Capital:

Project expenses include (Check one): Non‐Capital Capital Capital and Non‐Capital* * If project expenses include Capital and Non‐Capital, provide and attach Itemized List of New Assets and Costs Open Commitments (Yes/No): No If Yes, list below:

Project Manager: Date:

Sr. Civil Engineer (Construction Admin.): Date:

Engineering Division Manager: Date:

Department Director: Date:

CFF/CFD Administrator: Date:

Financial Analyst (Budget): Date:

Director of Finance: Date:

Financial Analyst (Assets): Date:

Completed/Processed by: Date:

This project will replace approximately 1,400 feet of undersized pipe, along Yosemite Boulevard, improving system reliability by increasing water pressure fro the residents and fire hydrants.

Project is in Beneficial Usage as of May 22, 2024
Authorization Signatures to Suspend Project
2/25/2026
Beneficial Use, Accpt tbd
Project Suspension Form
2/25/2025
Requesting Department:

Project Organization: UTL. Wastewater Engineering Design Empire Yosemite Boulevard Water Main Crossings Strengthen & Replace 4180
For projects under warranty period
101458
Utilities‐Engineering
Reason for Suspend:
$1,125,289.00
100.00%
Last Revised 12/6/2021
02/05/25
02/05/25
02/05/25
02/05/25
02/05/25
02/05/25
02/10/25
#9..
- 85 -
For both Non‐Capital/Capital Projects
Verity Project Fund is correct.

Verify all encumbrances have cleared with zero balances once all costs are final.

GMS: Costing and Funds Check on Usage and Miscellaneous Costs PRC: Update Project Summary Amounts
PRC: Distribute Total Burdened Cost
PRC: Generate Cost Accounting Events
PRC: Create Accounting
For Non‐Capital Projects
Enter and End Date in the Project Screen in Oracle.

For Capital Projects
Email the Asset Financial Analyst (Leslie Vaughn)of the closure (Capital Projects ONLY).

For both Non‐Capital/Capital Projects
Email Project Closure Form to Requesting Department once completed.

File BT or AT if Budget Adjustment was necessary.

File Project Closure Form in the Closure Binder.

For Capital Projects that include Non‐Capital expenses, include itemized list of new assets (schedule of values)
Before changing the Status to "Pending Close", attach a scanned copy of the signed Project Closure Form to the Project Screen.

Next change the Status to "Pending Close" and enter the date the Department Authorized the Project to be closed.

Email the Oracle Administrators (Matthew Chewning and Maria Garnica) to inactivate the Project Number on the General Ledger side of Oracle.

Finance Staff ONLY
Steps for Processing Project Closures
Grant Funded Projects‐Verify with Program Manager and Financial Analyst in Accounting‐that all final reporting and billing have been completed, and revenue has been received.

In Oracle, be sure to run the five processes individually after adjustments for both Non‐ Capital/Capital Projects:

Before changing the Status to "Closed", attach a scanned copy of the signed Project Closure Form to the Project Screen in Oracle.

Email the Oracle Administrators (Matthew Chewning and Maria Garnica) to inactivate the Project Number on the General Ledger side of Oracle.

Last Revised 12/6/2021
#9..
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Pull‐down Lists (DO NOT PRINT THIS PAGE)
Yes/No (Pulldown)
Yes
No
Department/Division (Pulldown List)
Community & Economic Development‐Transportation Engineering Community & Economic Development‐Land Development Engineering Community & Economic Development‐Community Development
Public Works‐Traffic
Public Works‐Streets
Public Works‐Fleet
Utilities‐Engineering
Utilities‐Water
Utilities‐Wastewater
Parks, Recreation & Neighborhoods
MPD
MFD
Last Revised 12/6/2021
#9..
- 87 -
03-ProjectSuspend-EmpireYosemiteWater
MainS&R(101458)
FinalAuditReport 2025-02-10
Created: 2025-02-05
By: VianeyPelayoSanchez([email protected])
Status: Signed
TransactionID: CBJCHBCAABAAyWHtiELDZbvYOg-tbK2yx6d51_eMcs7A "03-ProjectSuspend-EmpireYosemiteWaterMainS&R(10145
8)"History
DocumentcreatedbyVianeyPelayoSanchez([email protected]) 2025-02-05-3:42:20PMGMT
DocumentemailedtoCristianCiotau([email protected])forsignature 2025-02-05-3:42:24PMGMT
EmailviewedbyCristianCiotau([email protected])
2025-02-05-3:43:02PMGMT
Documente-signedbyCristianCiotau([email protected]) SignatureDate:2025-02-05-3:51:11PMGMT-TimeSource:server DocumentemailedtoPeteKambel([email protected])forsignature 2025-02-05-3:51:12PMGMT
EmailviewedbyPeteKambel([email protected])
2025-02-05-3:51:58PMGMT
Documente-signedbyPeteKambel([email protected])
SignatureDate:2025-02-05-3:57:20PMGMT-TimeSource:server DocumentemailedtoTobyWells([email protected])forsignature 2025-02-05-3:57:21PMGMT
EmailviewedbyTobyWells([email protected])
2025-02-05-5:04:53PMGMT
Documente-signedbyTobyWells([email protected])
SignatureDate:2025-02-05-5:05:11PMGMT-TimeSource:server #9..
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DocumentemailedtoRyleeSilva([email protected])forsignature 2025-02-05-5:05:13PMGMT
EmailviewedbyRyleeSilva([email protected])
2025-02-05-5:05:52PMGMT
Documente-signedbyRyleeSilva([email protected])
SignatureDate:2025-02-05-5:31:11PMGMT-TimeSource:server DocumentemailedtoDeAnnaChristensen([email protected])forsignature 2025-02-05-5:31:12PMGMT
EmailviewedbyDeAnnaChristensen([email protected]) 2025-02-05-5:31:41PMGMT
Documente-signedbyDeAnnaChristensen([email protected]) SignatureDate:2025-02-05-5:49:37PMGMT-TimeSource:server DocumentemailedtoLeslieVaughn([email protected])forsignature 2025-02-05-5:49:39PMGMT
EmailviewedbyLeslieVaughn([email protected])
2025-02-05-5:49:59PMGMT
Documente-signedbyLeslieVaughn([email protected])
SignatureDate:2025-02-10-3:41:27PMGMT-TimeSource:server Agreementcompleted.
2025-02-10-3:41:27PMGMT
#9..
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Requested by
City of Modesto/City Clerk’s Office
Return to City of Modesto/City Clerk’s Office:

PO Box 642
Modesto CA 95353

NOTICE OF COMPLETION
NOTICE IS HEREBY GIVEN that on September 12, 2023 the City of Modesto, PO Box 642, Modesto, California 95353, a Municipal Corporation in the County of Stanislaus, State of California, awarded the contract to DDS Company, Doing Business as (DBA) Knife River Construction, of Stockton, CA, for the project titled “Empire Yosemite Boulevard Water Main Crossings Strengthen & Replace” located at Church Street to the West, South Abbie Street to the East, 1st Street to the North, and Yosemite Boulevard to the South. On May 21, 2024, said contract as a whole was completed by DDS Company, DBA Knife River Construction, and accepted by the Council of the City of Modesto at a regular meeting of the Council held on February 25, 2025.

CITY OF MODESTO
By
Diane Nayares-Perez, City Clerk
I certify under penalty of perjury that the foregoing is true and correct.

Date: By
Modesto, CA Diane Nayares-Perez, City Clerk
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CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

February 25, 2025
Date: February 5, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Toby Wells, Director of Engineering Services Department/City Engineer SUBJECT: Accept Park Turf Reduction Phase I Project
CONTACT: Peter Kambel, Senior Civil Engineer, [email protected], 209-577-5444 DESCRIPTION:

Consider accepting the Park Turf Reduction Phase I Project as complete, releasing securities, releasing payments totaling $345,092 to Marina Landscape, Inc., of Orange, CA, and authorizing the City Clerk to file a Notice of Completion. (Funding Source: American Rescue Plan Act (ARPA), Urban Community Drought Relief Grant Program)
STRATEGIC PLAN ELEMENT:

The recommended action supports the City’s 2020-2025 Strategic Plan Area of Focus: Quality of Life and Governance and Service Delivery.

BACKGROUND:

In June of 2023, the City was notified that it was awarded $3,359,922 by the 2022 Urban Community Drought Relief Program, a grant through the Department of Water Resources (DWR). $800,000 for the Turf Replacement Customer Rebate Program and $2,559,922 for the Turf Replacement Project.

The City proposed to remove approximately 16 acres of non-functional turf grass from 21 parks and replace it with drought tolerant groundcover through the Park Turf Replacement Project Phase I of the Park Turf Reduction Project removed approximately 2.95 acres of turf at four (4) parks (Orchard, Moran Estates, East La Loma, and Chrysler).

DISCUSSION:

The project was advertised for bids on August 14, 2023. Bids were publicly opened on September 12, 2024, and Marina Landscape, Inc., of Orange, CA., was the lowest responsible bidder at

1.40% below the engineers estimate.
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City Council, February 25, 2025
Accept Park Turf Reduction Phase I Project

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On December 12, 2023, by Resolution 2023-521, Council awarded a contract to Marina Landscape, Inc., of Orange, CA in the amount of $342,445. The Contractor received the Notice to Proceed with a start date of February 26, 2024, and all contract work was completed on May 10, 2024.

By accepting this project as complete, the city officially accepts the improvements made and authorizes the Notice of Completion to be filed. The City Clerk is authorized to complete all the necessary steps to file Notice of Completion with the County Recorder, release securities, and authorize payments totaling $345,092. The work is covered by a one-year warranty for any issues that may arise.

Staff recommends the project for acceptance as the contractor has complied with all contract requirements for the project.

FISCAL IMPACT:

The total project costs were $438,655 which included design, construction, and construction administration costs. The total project (Phase 1) amount originally budgeted was $428,057, which included $376,690 for the construction contract and contingency with Marina Landscape, Inc.

There were two change orders resulting in an overall increase of $2,647 for change order work as listed on the attached change order log. A summary of the expenditures for the overall project is listed below.
101426 PRN – Park Turf Reduction, Phase 1 (ARPA Funds)
101555 PRN – Park Turf Reduction, Phase 1 (Urban Drought Relief Funds) 101426 101555 Total
Construction Contract (Marina Landscape) $130,200 $212,245 $342,445 Construction Contingency (Change Order) 0.8% $2,647 $0 $2,647 Construction Subtotal 345,092
Construction Administration – City Staff 16.1% $54,158 $904 $55,062 Engineering Design / Admin – City Staff/Misc. 11.2% $37,995 $506 $38,501 Total Project Expenses $225,000 $213,655 $438,655

COMMITTEE RECOMMENDATION
This project was presented to the Safety & Communities Committee on August 14, 2023, for consideration where it was recommended that it be forwarded to Council for future award of construction.
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City Council, February 25, 2025
Accept Park Turf Reduction Phase I Project

Page 3 of 3 ends

CEQA/NEPA REQUIREMENTS:

Environmental review was provided through a Categorical Exemption under CEQA Section 15301 – Minor Alterations to Existing Facilities.

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution accepting the Park Turf Reduction Phase I Project as complete, releasing securities, releasing payments totaling $345,092 to Marina Landscape, Inc., of Orange, CA., and authorizing the City Clerk to file a Notice of Completion.

Approved by:
_________________________________________
Toby Wells, Director of Engineering Services/
City Engineer
_________________________________________
Joseph P. Lopez, City Manager
Attachments:

1. Resolution

2. Contract Change Order Log

3. Notice of Completion
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02/25/2025/ESD/PKambel 1 2025-

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-XX

RESOLUTION ACCEPTING THE PARK TURF REDUCTION PHASE I

PROJECT AS COMPLETE, RELEASING SECURITIES, RELEASING
PAYMENTS TOTALING $345,092 TO MARINA LANDSCAPE, INC., OF ORANGE, CA., AND AUTHORIZING THE CITY CLERK TO FILE A NOTICE

OF COMPLETION
WHEREAS, in June of 2023, the City was notified that it was awarded $3,359,922 by the 2022 Urban Community Drought Relief Program; and WHEREAS, the City proposed to remove approximately 16 acres of non-functional turf grass from 21 parks and replace it with drought tolerant groundcover through the Park Turf Replacement Project; and
WHEREAS, Phase I of the Park Turf Reduction Project removed approximately

2.95 acres of turf at four (4) parks (Orchard, Moran Estates, East La Loma, and Chrysler); and
WHEREAS, the Park Turf Reduction Phase I Project was advertised for bids on August 14, 2023; and
WHEREAS, bids were publicly opened on September 12, 2024, and Marina Landscape, Inc., of Orange, CA, was the lowest responsible bidder at 1.40% below the engineers estimate; and
WHEREAS, on December 12, 2023, by Resolution No. 2023-521, Council awarded a contract to Marina Landscape, Inc., of Orange, CA in the amount of $342,445; and WHEREAS, the contractor received the Notice to Proceed with a first working day of February 26, 2024, and all contract work was completed by May 10, 2024; and WHEREAS, the total project costs were $438,655 which included design, construction, and construction administration costs. The total project (Phase I) amount #10..
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02/25/2025/ESD/PKambel 2 2025-
originally budgeted was $428,057, which included $376,690 for the construction contract and contingency with Marina Landscape, Inc; and
WHEREAS, the City’s “Change Order Approval Policy” enacted by Council Resolution No. 94-443 on July 19, 1994, updated by Resolution No. 2019-326 on July 9, 2019, and updated by Resolution No. 2023-405 on September 12, 2023 established a contract change order authority of ten percent (10%) for construction contracts of this dollar value; and
WHEREAS, there were two change orders on this project with an overall increase of $2,647; and
WHEREAS, by accepting this project as complete, the City officially accepts the improvements made and authorizes the City Clerk to file a Notice of Completion.

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Modesto that the Park Turf Reduction Phase I Project is hereby accepted as complete, releasing securities, releasing payments totaling $345,092 to Marina Landscape, inc., of Orange, CA., and authorizing the City Clerk to file a Notice of Completion. #10..
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02/25/2025/ESD/PKambel 3 2025-
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 25th day of February, 2025, 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, CMC,
City Clerk
(SEAL)
APPROVED AS TO FORM:

BY: ______________________________________
JOSE M. SANCHEZ, City Attorney
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CHANGE
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CONTRACT CHANGE ORDER LOG
Date: September 19, 2024
TIME
EXT. Approved
2023/19 - Park Turf Reduction, Phase 1 Task AUC-CA - KRAZAN PROJECT NUMBER AND NAME:
01 Additional Trees at Orchard Park and 5 Additional
Working Days
09/19/24 $2,646.94 5 W.D. No No Yes Yes
02 16 Additional Working Days 09/19/24 $0.00 16 W.D. No Yes No Yes Total Change Orders Processed To Date: $2,646.94
Original Contract Amount: $342,445.00
IDA To:

Total Working Days Time Extension: 21
Original Director's CCO Authority: $34,245.00
IDA Date: 12/5/2023
Total Executed Change Orders To Date: $2,646.94
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CONTRACT CHANGE ORDER LOG
Date: September 19, 2024
TIME
EXT. Approved
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Requested by
City of Modesto/City Clerk’s Office
Return to City of Modesto/City Clerk’s Office:

PO Box 642
Modesto CA 95353

NOTICE OF COMPLETION
NOTICE IS HEREBY GIVEN that on December 12, 2023, the City of Modesto, PO Box 642, Modesto, California 95353, a Municipal Corporation in the County of Stanislaus, State of California, awarded the contract to Marina Landscape, Inc., of Orange, CA., for the project titled “Park Turf Reduction, Phase 1” Orchard Park located at Twin Oak Lane to the north and Oaklawn Drive to the south and Lawson Drive to the east and Lincoln Oak Drive to the west and Moran Estate Park at Fortuna Avenue to the west and Oakshire Avenue to the east and Encina Avenue to the south and East La Loma Park at El Vista Avenue to the East and Dry Creek to the North and Chrysler Park at Conant Ave to the west and Park Place to the east. On May 10, 2024, said contract was completed by Marina Landscape, Inc., of Orange, CA., and accepted by the Council of the City of Modesto at a regular meeting of the Council held on February 25, 2025.

CITY OF MODESTO
By
Diane Nayares-Perez, City Clerk
I certify under penalty of perjury that the foregoing is true and correct.

Date: By
Modesto, CA Diane Nayares-Perez, City Clerk
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CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

February 25, 2025
Date: February 5, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: Toby Wells, Director of Engineering Services Department / City Engineer SUBJECT: Accept Sutter Trunk Rehabilitation Phase 2 Project CONTACT: Peter Kambel, Senior Civil Engineer, [email protected], 209-577-5444 DESCRIPTION:

Consider accepting the Sutter Trunk Rehabilitation Phase 2 Project as complete, releasing securities, releasing payments totaling $5,335,597 to A. Teichert & Son, Inc., doing business as (DBA) Teichert Construction, of Roseville, CA, and authorizing the City Clerk to file a Notice of Completion. (Funding Source: Wastewater Fund)
STRATEGIC PLAN ELEMENT:

The recommended action supports the City’s 2020-2025 Strategic Plan Initiatives, Goal D:

Provide safe, efficient, and reliable infrastructure through proactive community investment, maintenance, and sustainability efforts.

BACKGROUND:

In 2017, the Sutter Trunk was deemed to be insufficient to convey existing and build-out peak wet weather flows. Because of the size and cost of the construction, the project was phased. The Sutter Trunk Rehabilitation Phase 2 project upgraded inefficient and aging pipes, rehabilitated existing pipe where practical, and abandoned an existing sewer lift station that had outlived its usefulness. Completion of the project upgraded this section of the city’s infrastructure and allowed for safe, efficient, and reliable sanitary sewer conveyance now and for the foreseeable future.

DISCUSSION:

The project was advertised for bids on December 20, 2022. Bids were publicly opened on January 31, 2023, and A. Teichert & Son, Inc., DBA Teichert Construction, of Roseville, CA, was the lowest responsible bidder at 12.29% below the engineers estimate.

On April 4, 2023, by Resolution 2023-143, Council awarded a contract to A. Teichert & Son, Inc., DBA Teichert Construction, in the amount of $4,671,665. The Contractor received the Notice to Proceed with a start date of March 23, 2023. All contract work was completed on April 18, 2024. #11..
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City Council, March 4, 2025
Accept Sutter Trunk Rehabilitation Phase 2 Project

Page 2 of 3 ends

By accepting this project as complete, the City officially accepts the improvements made and authorizes the Notice of Completion to be filed. The City Clerk is authorized to complete all the necessary steps to file Notice of Completion with the County Recorder, release securities, and authorize payments totaling $5,335,597. The work is covered by a one-year warranty for any issues that may arise.

Staff recommends the project for acceptance as the contractor has complied with all contract requirements for the project.

FISCAL IMPACT:

The total project costs were $6,213,377, which included design, construction, construction management services (West Yost), and construction administration costs. The total project amount originally budgeted was $6,442,198, which included $5,372,415 for the construction contract and contingency with A. Teichert & Son, Inc., DBA Teichert Construction.

The City’s “Change Order Approval Policy” enacted by Council Resolution No. 94-443 on July 19, 1994, updated by Resolution No. 2019-326 on July 9, 2019, established a contract change order authority of eight percent (8%) for construction contracts of this dollar value. On April 4, 2023, Resolution 2023-144 established a 15% contingency threshold, no more than $700,750 to account for the complexity of this project.

There are nineteen change orders resulting in an overall increase of $663,932 for change order work as listed on the attached change order log. A summary of the expenditures for the overall project is listed below.
101298– Sutter Trunk Rehabilitation Phase 2 Project
PROJECT EXPENDITURES:

Construction Contract (Teichert Construction) $4,671,665 Construction Contingency (Change Orders) 14.2% $663,932 Construction Administration – City Staff Support 3.1% $145,925 Engineering Design/Admin. – City Staff Support/Misc. 0.8% $38,615 City Construction Forces 0.4% $20,651
Construction Management Services – West Yost & Assoc. 14.1% $659,901 Engineer Support – O’Dell Engineering 0.3% $12,688
TOTAL CONSTRUCTION EXPENDITURES: $6,213,377
COMMITTEE RECOMMENDATION:

The Sutter Trunk Rehabilitation Phase 2 Project was presented to the Economic Development Committee on April 4, 2022, as part of the Upcoming Construction Project Update. The Committee approved the list of projects and recommended staff to present the award of the project to Council upon successful bidding.

CEQA/NEPA REQUIREMENTS:
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City Council, March 4, 2025
Accept Sutter Trunk Rehabilitation Phase 2 Project

Page 3 of 3 ends

Environmental review has been provided through a Categorical Exemption under CEQA Section Article 19, Section 15301 class1 (b).

RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Resolution accepting the Sutter Trunk Rehabilitation Phase 2 Project as complete, releasing securities, releasing payments totaling $5,335,597 to A. Teichert & Son, Inc., DBA Teichert Construction, of Roseville, CA, and authorizing the City Clerk to file a Notice of Completion.

Approved by:
_________________________________________
Toby Wells, Director of Engineering Services/
City Engineer
_________________________________________
Joseph P. Lopez, City Manager
Attachments:

1. Resolution

2. Contract Change Order Log

3. Project Suspension Form

4. Notice of Completion
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02/25/2025/ESD/PKambel 1 2025-

MODESTO CITY COUNCIL
RESOLUTION NO. 2025-XX

RESOLUTION ACCEPTING THE SUTTER TRUNK REHABILITATION
PHASE 2 PROJECT AS COMPLETE, RELEASING SECURITIES, RELEASING PAYMENTS TOTALING $5,335,597 TO A. TEICHART & SON, INC., DBA TEICHART CONSTRUCTION, OF ROSEVILLE, CA., AND AUTHORIZING

THE CITY CLERK TO FILE A NOTICE OF COMPLETION
WHEREAS, in 2017, the Sutter Trunk was deemed to be insufficient to convey existing and build-out peak wet weather flows; and
WHEREAS, completion of Phase 2 upgraded this section of the City’s infrastructure and allowed for safe, efficient, and reliable sanitary sewer conveyance now and for the foreseeable future; and
WHEREAS, the project was advertised for bids on December 20, 2022; and WHEREAS, bids were publicly opened on January 31, 2023, and A. Teichert & Son, Inc., DBA Teichert Construction, of Roseville, CA, was the lowest responsible bidder at 12.29% below the engineers estimate; and
WHEREAS, on April 4, 2023, by Resolution 2023-143, the City Council awarded a contract to A. Teichert & Son, Inc., DBA Teichert Construction, in the amount of $4,671,665; and
WHEREAS,. the Contractor received the Notice to Proceed with a start date of March 23, 2023. All contract work was completed on April 18, 2024; and WHEREAS, the total project costs were $6,213,377 which included design, construction, construction management services (West Yost), and construction administration costs. The total project amount originally budgeted was $6,442,198, which included $5,335,597 for the construction contract and contingency with A. Teichert & Son, Inc., DBA Teichert Construction; and
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02/25/2025/ESD/PKambel 2 2025-
WHEREAS, the City’s “Change Order Approval Policy” enacted by Council Resolution No. 94-443 on July 19, 1994, updated by Resolution No. 2019-326 on July 9, 2019, established a contract change order authority of eight percent (8%) for construction contracts of this dollar value. On April 4, 2023, Resolution 2023-144 established a 15% contingency threshold of no more than $700,750 to account for the complexity of this project; and
WHEREAS, there are nineteen change orders resulting in an overall increase of $663,932 for change order work as listed on the attached change order log. A summary of the expenditures for the overall project is listed below; and WHEREAS, by accepting this project as complete, the City officially accepts the improvements made and authorizes the Notice of Completion to be filed.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Modesto that the Sutter Trunk Rehabilitation Phase 2 Project is hereby accepted as, releasing securities, releasing payments totaling $5,335,597 to a. Teichert & son, Inc., DBA Teichert construction, of Roseville, ca., and authorizing the city clerk to file a notice of completion.
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02/25/2025/ESD/PKambel 3 2025-
The foregoing resolution was introduced at a regular meeting of the Council of the City of Modesto held on the 25th day of February, 2025, 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, CMC,
City Clerk
(SEAL)
APPROVED AS TO FORM:

BY: ______________________________________
JOSE M. SANCHEZ, City Attorney
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CHANGE
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CONTRACT CHANGE ORDER LOG
Date: December 04, 2024
TIME
EXT. Approved
2023/08 - Sutter Trunk Rehabilitation Phase 2 Project (101298) PROJECT NUMBER AND NAME:
01 Additional CIPP Liner at Paradise Ave. 12/15/23 $193,610.00 0 W.D. No Yes No Yes 02 Pipeline Cleaning & CCTV Support for City Crews. 02/20/24 $48,816.87 0 W.D. No Yes No Yes 03 9002 - Excavate for COM Utilities Department 02/20/24 $27,481.19 0 W.D. No Yes No Yes 04 9003 - Repair Existing 24" RCP Sewer 02/20/24 $2,688.55 0 W.D. No Yes No Yes 05 Work Around Unforseen Utilities 02/20/24 $63,158.85 0 W.D. No Yes No Yes 06 9005 - Assist the City with 8" Water Repair 02/20/24 $15,017.76 0 W.D. No Yes No Yes 07 9006 - Grind and Repave Jefferson - North of Maze Blvd. 02/20/24 $87,814.31 0 W.D. No Yes No Yes 08 Additional Manhole at Corp Yard. 04/18/24 $37,800.00 0 W.D. Yes No No Yes 09 Tie in at Existing Manhole 04/18/24 $5,762.22 0 W.D. No No No Yes 10 9008 - Remove and Relace Concret Apron at Corp Yard. 04/18/24 $68,207.75 0 W.D. Yes Yes No Yes 11 Unmarked Utilities at Corp Yard Entrance 04/18/24 $8,028.58 0 W.D. No Yes No Yes 12 9012 - Unmarked Utilities at Corp Yard Apron 04/18/24 $16,281.00 0 W.D. No Yes No Yes 13 9013 - Handle Spoils at Corp Yard Concrete Apron 04/18/24 $15,985.28 0 W.D. No Yes No Yes 14 9014 - Additional Excavation at New Manhole 04/18/24 $16,768.41 0 W.D. No Yes No Yes 15 Additional Paving Above Bid Quantity on Paradise and Jefferson
05/17/24 $72,884.10 0 W.D. No Yes No Yes
16 9015 - Additional Striping 05/17/24 $2,100.00 0 W.D. No Yes No Yes 17 9016 - 18" Liner Material Cost 05/17/24 $5,791.17 0 W.D. No No No Yes 18 24" Trench Repair at Jefferson Street 05/17/24 $7,000.00 0 W.D. No Yes No Yes 19 Actual conditions encountered in the field make it
necessary to decrease the original contract quantities. -$31,264.00 0 W.D. No Yes No No
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CHANGE
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CONTRACT CHANGE ORDER LOG
Date: December 04, 2024
TIME
EXT. Approved
Total Change Orders Processed To Date: $663,932.04
Original Contract Amount: $5,372,415.00
IDA To: $700,750.00
Total Working Days Time Extension: 0
Original Director's CCO Authority: $373,734.00
IDA Date: 4/4/2023
Total Executed Change Orders To Date: $695,196.04
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CONTRACT CHANGE ORDER LOG
Date: December 04, 2024
TIME
EXT. Approved
#11..
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3-ProjectSuspend-SutterTrunk(101298)
FinalAuditReport 2025-02-10
Created: 2025-02-05
By: VianeyPelayoSanchez([email protected])
Status: Signed
TransactionID: CBJCHBCAABAAvgyuXKgc6BlEkArx_dmM6Xv2o-zcvOe0 "3-ProjectSuspend-SutterTrunk(101298)"History
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EmailviewedbyCristianCiotau([email protected])
2025-02-05-4:02:07PMGMT
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2025-02-10-4:16:04PMGMT
Documente-signedbyCristianCiotau([email protected]) SignatureDate:2025-02-10-4:16:52PMGMT-TimeSource:server DocumentemailedtoPeteKambel([email protected])forsignature 2025-02-10-4:16:54PMGMT
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2025-02-10-4:46:09PMGMT
Documente-signedbyTobyWells([email protected])
SignatureDate:2025-02-10-4:46:23PMGMT-TimeSource:server #11..
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DocumentemailedtoRyleeSilva([email protected])forsignature 2025-02-10-4:46:26PMGMT
EmailviewedbyRyleeSilva([email protected])
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Documente-signedbyRyleeSilva([email protected])
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Documente-signedbyDeAnnaChristensen([email protected]) SignatureDate:2025-02-10-5:09:39PMGMT-TimeSource:server DocumentemailedtoLeslieVaughn([email protected])forsignature 2025-02-10-5:09:41PMGMT
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2025-02-10-5:10:07PMGMT
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SignatureDate:2025-02-10-11:56:41PMGMT-TimeSource:server Agreementcompleted.
2025-02-10-11:56:41PMGMT
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Requested by
City of Modesto/City Clerk’s Office
Return to City of Modesto/City Clerk’s Office:

PO Box 642
Modesto CA 95353

NOTICE OF COMPLETION
NOTICE IS HEREBY GIVEN that on April 4, 2023 the City of Modesto, PO Box 642, Modesto, California 95353, a Municipal Corporation in the County of Stanislaus, State of California, awarded the contract to A. Teichart & Son, Inc., doing business as (DBA) Teichart Construction, of Roseville, CA, for the project titled “ Sutter Trunk Rehabilitation Phase 2” located from North Jefferson Street and 8th Street to the intersection of Paradise Road and Sutter Avenue. On April 18, 2024, said contract as a whole was completed by A. Teichart & Son, Inc., DBA Teichart Construction, and accepted by the Council of the City of Modesto at a regular meeting of the Council held on February 25, 2025.

CITY OF MODESTO
By
Diane Nayares-Perez, City Clerk
I certify under penalty of perjury that the foregoing is true and correct.

Date: By
Modesto, CA Diane Nayares-Perez, City Clerk
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CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

February 25, 2025
Date: January 17, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
SUBJECT: Monthly Investment Report – December 2024
CONTACT: Calogero Maniscalco, Senior Financial Analyst
[email protected], 209-577-5219
DESCRIPTION:

Consider accepting the Monthly Investment Report for December 2024. (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 Finance Department submits a monthly investment report to Council and the City Manager. Attached are the December investment reports (see attachment list below) generated by Public Financial Management, the City’s investment advisor. Investments in the portfolio (Attachment 4) are for the City of Modesto, Modesto Public Financing Authority, Community Facilities Districts, Tuolumne River Regional Park, Successor Agency to the Redevelopment Agency, and the Modesto-Ceres Fire Protection Agency Joint Powers Authority.

DISCUSSION:

It is the function of the Finance Department to deposit and invest funds in accordance with sound treasury management and to safeguard the principal and maintain the liquidity needs of the City. The purpose of the Monthly Investment Report is to keep the City Council and City Manager informed of the City’s investment portfolio. As shown in Attachment 2, on December 31, 2024, the City had a closing market value of $462,424,491 in its investment portfolio. #12..
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City Council, February 25, 2025
Monthly Investment Report – December 2024

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FISCAL IMPACT:

In December, the approximate yield of the City’s combined investments was 3.84% (see attachment 3) on a weighted average. For the portfolio of securities alone, the yield to maturity on cost was 3.71%. For comparative purposes, the yields (as of December 31, 2024) of other investments commonly used by public agencies are listed below:

Local Agency Investment Fund: 4.43%
1-Year U.S. Treasury Note: 4.26%
2-Year U.S. Treasury Note: 4.26%

The Portfolio maintains sufficient liquidity to meet the City's projected expenditure requirements for at least the next six months.

COMMITTEE RECOMMENDATION:

This item is being presented as informational to share the monthly Investment Report and activity to Council and the public, it has not been presented to a Council Committee.

CEQA/NEPA REQUIREMENTS:

N/A
RECOMMENDED COUNCIL ACTION:

Staff Recommendations:

Motion accepting the Monthly Investment Report for December 2024.

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
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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 $28,695,113
Federal Agency 2 $4,122,070
Federal Nat’l Mortgage Assc. 2 $4,122,070
Federal Agency CMO 28 $83,765,060
U.S. Treasury 55 $243,569,594
Negotiable CD 1 $3,567,970
Corporate Note 30 $67,737,329
Asset-Backed 17 $27,987,849
Municipal 5 $2,979,505
Total Invested 139 $462,424,491
Sector Allocation
December 31, 2024 versus November 30, 2024
Sector December 31, 2024 November 30, 2024 Change in Allocation Permitted by Policy
U.S. Treasury 52.7% 51.7% 1.0% 100%
Federal Agency 0.9% 0.9% 0.0% 100%
Federal Agency CMO 18.1% 17.9% 0.2% 100%
Negotiable CD 0.8% 0.8% 0.0% 30%
Corporate Note 14.6% 14.5% 0.2% 30%
Asset-Backed 6.1% 6.0% 0.1% 20%
Municipal 0.6% 0.7% 0.0% 100%
CAMP 6.2% 7.7% -1.5% 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
At the final Federal Open Market Committee (FOMC) meeting of 2024, the Federal Reserve (Fed) lowered the target range for the federal funds rate by 25 basis points (bps) to a new range of 4.25% to

4.50%. In his post-meeting press conference, Fed Chair Jerome Powell said it was a “closer call” than in previous meetings and noted the Fed is now “in a new phase” of the easing cycle. The market now expects the Fed to pause rate cuts for several months. The FOMC’s updated Summary of Economic Projections (SEP) showed a higher median expectation for inflation in calendar years 2025 and 2026, in line with recent upticks in various inflation metrics. Projections for gross domestic product (GDP) were also revised higher while the unemployment rate projection was lowered. During the month, in the Long-Term Portfolio, we sold two short-maturity Treasuries, and used the proceeds of a maturity, to purchase a 5-year Treasury. There was no activity in the Short-Term Portfolio. #12..
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Long-Term Portfolio Total Return
December 31, 2024
1 Month Trailing
12 Months
Trailing 36
Months
Trailing 60
Months
Since
Inception5
City of Modesto Investment Portfolio1,2,3 -0.05% 3.87% 1.20% 1.43% 2.14% Modesto Performance Benchmark4 -0.07% 3.41% 0.73% 1.05% 1.84% Average Portfolio Yields
December 31, 2024
Past
Month
Past 3
Months
Past
Year
Past 3
Years
Past 5
Years
City of Modesto Investment Portfolio 3.71% 3.67% 3.38% 2.46% 2.19% City of Modesto Short-Term Portfolio 4.65% 4.65% 5.11% - - $42.1
$48.3
$100.1
$60.9
$116.6
$94.4
$-
$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
December 31, 2024

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 BofA 1-3 Year U.S. Treasury Index, and is now the ICE BofA 1-5 Year U.S.

Treasury Index, sourced from Bloomberg Finance L.P.

5. Inception date is 3/31/04.

PERFORMANCE
The U.S. Treasury yield curve twisted and steepened throughout December as short-term yields declined while longer-term yields drifted higher. Yields on 3-month, 2-year, and 10-year U.S. Treasuries ended the month at 4.31%,

4.24%, and 4.57%, reflecting changes of -17, +9, and +40 bps, respectively. The 10-year Treasury is now outyielding the 3-month security for the first time in over two years. Investment-grade (IG) corporate bonds continue to see spreads at historically narrow levels with little room to tighten further. Our view is that the combination of heightened market volatility, fiscal policy uncertainty, and increased Q1 issuance may create opportunities to increase allocations at more attractive levels in the future. Mortgage-backed securities (MBS) and agency-backed commercial MBS (CMBS) spreads were little changed over the month after narrowing in November. For the month, both the portfolio and its benchmark produced negative returns, due to rising interest rates. The portfolio overperformed the benchmark by 2 basis points. Over the trailing 12-month period, the portfolio continues to produce strong performance and outperform the benchmark by 46 basis points.

Percentages may not add to total due to rounding
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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

0.27%
Fiscal Year-to-Date Income Return

1.03%
Prior 12 Months Income Return

2.84%
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2.4%

2.8%
1%
2%
3%
4%
5%
6%
7%
8%
Nov-21 May-22 Nov-22 May-23 Nov-23 May-24 Nov-24
Headline PCE Core PCE Fed Target
Economic Summary
Source: Bureau of Economic Analysis, Bureau of Labor Statistics, and Bloomberg Finance L.P., as of December 2024.

Labor Market Remains Resilient
PCE Inflation
% Change YoY
290
256
236
310
108
216
118
144
78 255
43 212
256
0 50
100
150
200
250
300
350
400
Dec-23
Mar-24
Jun-24
Sep-24
Dec-24
Thousands
Monthly Change In
Nonfarm Payrolls
Dec-24

4.1%
0%
1%
2%
3%
4%
5%
2021 2022 2023 2024
Unemployment Rate
Core Inflation Measures Muted in November
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Source:Federal Reserve; Bloomberg Finance L.P. Individual dots represent each Fed members’ judgement of the midpoint of the appropriate target range for the federal funds rate at each year-end. As of December 2024 (top). Bloomberg Finance L.P., as of January 14, 2025 (bottom).

Economic Summary
The Latest Fed “Dot Plot”
0%
1%
2%
3%
4%
5% Fed Participants’ Assessments of ‘Appropriate’ Monetary Policy Dec-24 FOMC Projections
Dec-24 Median
Sep-24 Median
2024 2025 2026 2027 Longer Term
2 cuts 2 cuts 1 cut 3.0%
1 2
3 4
5 6
7 8
9 10
11 18-Sep 2-Oct 16-Oct 30-Oct 13-Nov 27-Nov 11-Dec 25-Dec 8-Jan Number of Cuts
Number of Implied Rate Cuts in 2025
The Market and Fed’s Dot Plot Align
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Source: ICE BofA 1-5 year Indices via Bloomberg Finance L.P., MarketAxess and PFMAM as of 12/31/2024. Spreads on ABS are optionadjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.

Economic Summary
Agency, Corporate, and ABS Spreads Remain Narrow
-0.1%

0.0%

0.1%

0.2%

0.3%

0.4%
Dec-22 Jun-23 Dec-23 Jun-24 Dec-24
Federal Agency Yield Spread

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%
Dec-22 Jun-23 Dec-23 Jun-24 Dec-24
Corporate Notes A-AAA Yield Spreads

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%
Dec-22 Jun-23 Dec-23 Jun-24 Dec-24
Asset-Backed Securities AAA Yield Spreads
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U.S. Treasury Yields
Source: Bloomberg Finance L.P., as of 12/31/2024.

Economic Summary

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
Yield
Maturity
U.S. Treasury Yield Curve
December 31, 2024
November 30, 2024
October 31, 2024
3mo 2yr 5yr 7yr 10yr 20yr 30yr
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The views expressed within this material constitute the perspective and judgment of U.S. Bancorp Asset Management, Inc. at the time of distribution and are subject to change. Any forecast, projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon current opinion as of the date of issue and are also subject to change. Opinions and data presented are not necessarily indicative of future events or expected performance. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. No representation is made as to its accuracy or completeness.

PFM Asset Management serves clients in the public sector and is a division of U.S. Bancorp Asset Management, Inc., which is the legal entity providing investment advisory services. U.S. Bancorp Asset Management, Inc. is a registered investment adviser, a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S. Bancorp. U.S. Bank N.A. is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Asset Management, Inc.

For more information regarding PFMAM’s services or entities, please visit www.pfmam.com.

Disclosures
#12..
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For the Month Ending December 31, 2024
Account Statement
Consolidated Summary Statement
CITY OF MODESTO - Combined Portfolio
Investment Allocation
Investment Type Closing Market Value Percent
Asset-Backed Security 27,987,849.44 6.05
Federal Agency Bond / Note 4,122,069.55 0.89
Corporate Note 57,979,104.89 12.54
Bank Note 9,758,224.59 2.11
Certificate of Deposit 3,567,970.00 0.77
Federal Agency Commercial Mortgage-Backed Security 83,765,060.03 18.11 Municipal Bond / Note 2,979,505.42 0.64
U.S. Treasury Bond / Note 243,569,593.58 52.68
CAMP Pool 28,695,113.02 6.21
Total $462,424,490.52 100.00%
Portfolio Summary
and Income
Closing
Portfolio Holdings Market Value
Cash Dividends
PFMAM Managed Account 662,179.13 433,729,377.50
CAMP Pool 0.00 28,695,113.02
Total $662,179.13 $462,424,490.52
Maturity Distribution (Fixed Income Holdings)
Portfolio Holdings Closing Market Value Percent
28,695,113.02

0.00 0.00
11,649,232.96
55,157,176.19
95,022,058.76
65,102,650.30
112,406,167.53
94,392,091.76

0.00 6.20

0.00 0.00

2.52 11.93

20.55 14.08

24.31 20.41

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 $462,424,490.52
912
100.00%
Weighted Average Days to Maturity
Sector Allocation

6.05%
ABS

0.89%
Fed Agy Bond /
Note

12.54%
Corporate Note

2.11%
Bank Note

0.77%
Cert of Deposit

18.11%
Federal Agency
Commercial
Mortgage-Backed
Security

0.64%
Muni Bond / Note

52.68%
US TSY Bond / Note

6.21%
CAMP Pool
PFM Asset Management Summary Page 1
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Managed Account Summary Statement For the Month Ending December 31, 2024 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)
$434,293,933.59
(184,448.91)
(5,466,375.00)
6,326,347.27

0.00 (1,240,079.45)
$433,729,377.50
749,278.86
(4,293.85)
(82,805.88)
$662,179.13
Total
438,163,055.49
2,602,979.29
5,468,974.93
184,448.91
746,678.93
(6,330,641.12)
(437,443,299.20)
(2,170,692.92)
Total Accrual Basis Earnings $1,221,504.31
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
100,000.00
5,468,974.93
746,678.93
84,448.91
(6,330,641.12)

81.51 0.00
Cash Balance
Closing Cash Balance $881,045.17
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 1 U.S. Bancorp Asset Management, Inc.
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Portfolio Summary and Statistics For the Month Ending December 31, 2024 CITY OF MODESTO - Combined Portfolio
Account Summary
Description Par Value Market Value Percent
U.S. Treasury Bond / Note 251,695,000.00 243,569,593.58 56.16 Municipal Bond / Note 3,035,000.00 2,979,505.42 0.69
Federal Agency Commercial
Mortgage-Backed Security
83,820,447.57 83,765,060.03 19.31
Federal Agency Bond / Note 4,255,000.00 4,122,069.55 0.95 Corporate Note 58,470,000.00 57,979,104.89 13.37
Certificate of Deposit 3,500,000.00 3,567,970.00 0.82
Bank Note 9,635,000.00 9,758,224.59 2.25
Asset-Backed Security 27,706,927.08 27,987,849.44 6.45
Managed Account Sub-Total 442,117,374.66 433,729,377.50 100.00% Accrued Interest 2,602,979.29
Total Portfolio 442,117,374.66 436,332,356.79
Unsettled Trades 0.00 0.00
Sector Allocation

6.45%
ABS

2.25%
Bank Note

0.82%
Cert of Deposit

13.37%
Corporate Note

0.95%
Fed Agy Bond /
Note

19.31%
Federal Agency
Commercial
Mortgage-Backed
Security

0.69%
Muni Bond / Note

56.16%
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

2.68%

12.72%

21.91%

15.01%

25.92%

21.76%

0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Weighted Average Days to Maturity 972

3.78%

4.48%
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 2 U.S. Bancorp Asset Management, Inc.
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Managed Account Issuer Summary For the Month Ending December 31, 2024 CITY OF MODESTO - Combined Portfolio
Credit Quality (S&P Ratings)

3.51%
A

8.56%
A+

0.47%
A0.85%
AA

77.59%
AA+

1.21%
AA6.17%
AAA

1.64%
NR
Issuer Summary
Issuer of Holdings Percent
Market Value
Adobe Inc 2,890,274.88 0.67
American Express Co 3,129,323.34 0.72
Apple Inc 5,120,096.80 1.18
BA Credit Card Trust 1,378,146.32 0.32
Bank of America Corp 10,264,628.72 2.37
Bank of New York Mellon Corp 3,328,905.20 0.77
BlackRock Inc 365,323.76 0.08
Bristol-Myers Squibb Co 2,160,247.83 0.50
Citigroup Inc 6,666,271.23 1.54
Cooperatieve Rabobank UA 3,567,970.00 0.82
Deere & Co 2,579,681.30 0.59
Eli Lilly & Co 2,892,507.45 0.67
Federal Home Loan Mortgage Corp 80,486,845.79 18.55
Federal National Mortgage Association 7,400,283.79 1.71 Fifth Third Auto Trust 2,451,597.40 0.57
GM Financial Consumer Automobile Receiv 366,864.42 0.08 Home Depot Inc 3,458,574.94 0.80
Honda Auto Receivables Owner Trust 2,242,120.08 0.52
Hyundai Auto Receivables Trust 1,195,010.38 0.28
JPMorgan Chase & Co 12,326,669.98 2.84
Kubota Credit Owner Trust 899,238.20 0.21
Mastercard Inc 2,489,379.84 0.57
Microsoft Corp 5,845,743.00 1.35
Morgan Stanley 4,055,768.00 0.94
New Jersey Turnpike Authority 488,982.92 0.11
PACCAR Inc 1,138,706.65 0.26
PepsiCo Inc 1,931,110.65 0.45
State Board of Administration Finance C 1,769,976.00 0.41 State Street Corp 1,878,533.80 0.43
Target Corp 347,213.55 0.08
Toyota Auto Receivables Owner Trust 1,539,715.29 0.35
Toyota Motor Corp 2,839,718.00 0.65
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 3 U.S. Bancorp Asset Management, Inc.
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Managed Account Issuer Summary For the Month Ending December 31, 2024 CITY OF MODESTO - Combined Portfolio
Issuer of Holdings Percent
Market Value
United States Treasury 243,569,593.58 56.15
University of California Board of Regen 720,546.50 0.17 USAA Auto Owner Trust 3,043,690.74 0.70
Walmart Inc 1,197,660.58 0.28
Wells Fargo & Co 5,702,456.59 1.31
Total $433,729,377.50 100.00%
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 4 U.S. Bancorp Asset Management, Inc.
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Managed Account Detail of Securities Held For the Month Ending December 31, 2024 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
DTD 05/15/2015 2.125% 05/15/2025
912828XB1 11,015,000.00 AA+ Aaa 05/14/24 05/15/24 10,694,446.29 5.15 30,390.14 10,894,837.92 10,928,686.46

US TREASURY N/B
DTD 07/31/2023 4.750% 07/31/2025
91282CHN4 10,805,000.00 AA+ Aaa 07/30/24 07/31/24 10,799,091.02 4.81 214,778.74 10,801,538.52 10,834,756.97

US TREASURY N/B
DTD 09/15/2022 3.500% 09/15/2025
91282CFK2 11,115,000.00 AA+ Aaa 09/16/24 09/16/24 11,061,595.90 4.00 116,062.71 11,077,273.43 11,055,845.97

US TREASURY N/B
DTD 11/02/2020 0.250% 10/31/2025
91282CAT8 5,010,000.00 AA+ Aaa 04/29/21 04/30/21 4,894,339.45 0.77 2,145.17 4,988,695.96 4,848,507.66

US TREASURY N/B
DTD 11/02/2020 0.250% 10/31/2025
91282CAT8 6,930,000.00 AA+ Aaa 10/04/21 10/06/21 6,783,278.91 0.78 2,967.27 6,900,083.12 6,706,618.38

US TREASURY N/B
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 1,401.10 4,223,899.20 4,104,004.00

US TREASURY N/B
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 1,528.02 4,540,017.60 4,475,778.48

US TREASURY N/B
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 5.18 499,718.17 481,457.00

US TREASURY N/B
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 10.77 1,039,194.74 1,001,430.56

US TREASURY N/B
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 38.69 3,716,355.72 3,596,483.79

US TREASURY N/B
DTD 02/01/2021 0.375% 01/31/2026
91282CBH3 2,400,000.00 AA+ Aaa 07/02/21 07/07/21 2,353,875.00 0.80 3,766.30 2,389,083.66 2,302,780.80

US TREASURY N/B
DTD 02/01/2021 0.375% 01/31/2026
91282CBH3 5,000,000.00 AA+ Aaa 02/17/22 02/18/22 4,719,531.25 1.85 7,846.47 4,923,225.81 4,797,460.00

US TREASURY N/B
DTD 02/01/2021 0.375% 01/31/2026
91282CBH3 5,775,000.00 AA+ Aaa 01/04/22 01/06/22 5,570,167.97 1.27 9,062.67 5,720,552.72 5,541,066.30

US TREASURY N/B
DTD 02/01/2021 0.375% 01/31/2026
91282CBH3 7,980,000.00 AA+ Aaa 05/03/22 05/04/22 7,256,812.50 2.95 12,522.96 7,771,184.90 7,656,746.16 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 5 U.S. Bancorp Asset Management, Inc.
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Managed Account Detail of Securities Held For the Month Ending December 31, 2024 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
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 27,267.27 3,275,566.45 3,146,929.92

US TREASURY N/B
DTD 03/01/2021 0.500% 02/28/2026
91282CBQ3 4,645,000.00 AA+ Aaa 04/06/22 04/07/22 4,259,973.05 2.76 7,891.37 4,530,547.15 4,450,128.32

US TREASURY N/B
DTD 03/01/2021 0.500% 02/28/2026
91282CBQ3 6,000,000.00 AA+ Aaa 12/03/21 12/07/21 5,838,281.25 1.15 10,193.37 5,955,694.93 5,748,282.00

US TREASURY N/B
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 4,752.20 2,479,735.69 2,375,376.24

US TREASURY N/B
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 9,437.33 4,917,851.20 4,717,229.03

US TREASURY N/B
DTD 06/01/2021 0.750% 05/31/2026
91282CCF6 1,405,000.00 AA+ Aaa 06/23/21 06/25/21 1,396,987.11 0.87 926.37 1,402,708.70 1,338,098.12

US TREASURY N/B
DTD 06/01/2021 0.750% 05/31/2026
91282CCF6 4,615,000.00 AA+ Aaa 04/06/22 04/07/22 4,253,551.76 2.76 3,042.86 4,492,131.46 4,395,247.55

US TREASURY N/B
DTD 06/01/2021 0.750% 05/31/2026
91282CCF6 4,800,000.00 AA+ Aaa 06/06/22 06/08/22 4,399,125.00 2.99 3,164.84 4,657,914.23 4,571,438.40

US TREASURY N/B
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 11,824.31 4,495,750.15 4,381,538.08

US TREASURY N/B
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 9,635.34 4,177,073.95 4,067,058.23

US TREASURY N/B
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 11,801.93 4,465,332.49 4,361,781.96

US TREASURY N/B
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 78,357.47 9,110,274.25 8,847,235.40

US TREASURY N/B
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 5,812.50 881,512.80 876,159.83

US TREASURY N/B
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 5,549.17 6,141,922.21 5,943,378.24 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 6 U.S. Bancorp Asset Management, Inc.
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Managed Account Detail of Securities Held For the Month Ending December 31, 2024 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
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 76.59 5,226,757.09 5,055,049.35

US TREASURY N/B
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 10,198.37 1,169,695.86 1,140,516.00

US TREASURY N/B
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 25,368.44 2,902,879.66 2,837,033.55

US TREASURY N/B
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 56,700.62 5,360,375.96 5,358,146.44

US TREASURY N/B
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 19,181.25 2,736,812.86 2,703,971.67

US TREASURY N/B
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 22,325.14 3,200,285.44 3,147,164.08

US TREASURY N/B
DTD 11/02/2020 0.500% 10/31/2027
91282CAU5 8,775,000.00 AA+ Aaa 01/04/23 01/06/23 7,472,803.71 3.91 7,514.50 8,010,265.05 7,897,500.00

US TREASURY N/B
DTD 01/03/2023 3.875% 12/31/2027
91282CGC9 4,250,000.00 AA+ Aaa 06/01/23 06/05/23 4,266,933.59 3.78 454.94 4,261,093.02 4,200,691.50

US TREASURY N/B
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 32,515.76 2,218,864.94 2,168,835.66

US TREASURY N/B
DTD 02/01/2021 0.750% 01/31/2028
91282CBJ9 3,450,000.00 AA+ Aaa 01/31/23 01/31/23 2,994,761.72 3.66 10,828.13 3,169,527.35 3,099,473.10

US TREASURY N/B
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0 1,120,000.00 AA+ Aaa 03/03/23 03/06/23 1,105,343.75 4.29 15,222.10 1,110,712.08 1,109,674.72

US TREASURY N/B
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 38,395.03 2,805,128.47 2,798,956.33

US TREASURY N/B
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 8,159.86 2,385,600.80 2,320,159.73

US TREASURY N/B
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 24,774.98 2,673,137.48 2,619,619.48 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 7 U.S. Bancorp Asset Management, Inc.
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Managed Account Detail of Securities Held For the Month Ending December 31, 2024 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
DTD 05/01/2023 3.500% 04/30/2028
91282CHA2 2,810,000.00 AA+ Aaa 05/01/23 05/01/23 2,796,937.89 3.60 16,844.48 2,801,308.62 2,738,760.88

US TREASURY N/B
DTD 05/01/2023 3.500% 04/30/2028
91282CHA2 6,530,000.00 AA+ Aaa 05/03/23 05/04/23 6,559,844.14 3.40 39,143.92 6,549,890.64 6,364,451.44

US TREASURY N/B
DTD 04/01/2024 4.125% 03/31/2029
91282CKG5 3,450,000.00 AA+ Aaa 04/09/24 04/11/24 3,411,861.33 4.37 36,360.06 3,416,940.09 3,415,634.55

US TREASURY N/B
DTD 04/30/2024 4.625% 04/30/2029
91282CKP5 4,430,000.00 AA+ Aaa 10/16/24 10/17/24 4,571,725.39 3.85 35,091.23 4,565,700.58 4,471,876.79

US TREASURY N/B
DTD 04/30/2024 4.625% 04/30/2029
91282CKP5 5,190,000.00 AA+ Aaa 05/02/24 05/03/24 5,201,961.33 4.57 41,111.40 5,200,528.30 5,239,061.07

US TREASURY N/B
DTD 05/31/2024 4.500% 05/31/2029
91282CKT7 1,430,000.00 AA+ Aaa 06/06/24 06/07/24 1,442,959.38 4.30 5,657.14 1,441,615.69 1,436,646.64

US TREASURY N/B
DTD 05/31/2024 4.500% 05/31/2029
91282CKT7 4,190,000.00 AA+ Aaa 06/05/24 06/06/24 4,224,698.44 4.31 16,575.82 4,221,087.09 4,209,475.12

US TREASURY N/B
DTD 07/01/2024 4.250% 06/30/2029
91282CKX8 2,920,000.00 AA+ Aaa 07/01/24 07/02/24 2,896,959.38 4.43 342.82 2,899,038.26 2,903,461.12

US TREASURY N/B
DTD 07/31/2024 4.000% 07/31/2029
91282CLC3 2,105,000.00 AA+ Aaa 08/01/24 08/02/24 2,119,636.33 3.85 35,235.87 2,118,532.14 2,071,368.42

US TREASURY N/B
DTD 09/03/2024 3.625% 08/31/2029
91282CLK5 7,550,000.00 AA+ Aaa 09/04/24 09/05/24 7,565,630.86 3.58 92,993.27 7,564,718.85 7,309,343.75

US TREASURY N/B
DTD 09/30/2024 3.500% 09/30/2029
91282CLN9 8,695,000.00 AA+ Aaa 10/02/24 10/03/24 8,670,205.66 3.56 77,753.37 8,671,361.90 8,365,198.65

US TREASURY N/B
DTD 10/31/2024 4.125% 10/31/2029
91282CLR0 4,850,000.00 AA+ Aaa 11/01/24 11/04/24 4,838,064.45 4.18 34,264.85 4,838,426.22 4,793,541.15

US TREASURY N/B
DTD 12/02/2024 4.125% 11/30/2029
91282CMA6 6,315,000.00 AA+ Aaa 12/05/24 12/06/24 6,326,347.27 4.08 22,900.55 6,326,222.03 6,242,478.54 Security Type Sub-Total 251,695,000.00 243,600,021.74 3.15 1,318,173.01 248,316,183.60 243,569,593.58 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 8 U.S. Bancorp Asset Management, Inc.
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Managed Account Detail of Securities Held For the Month Ending December 31, 2024 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

UNIV OF CALIFORNIA-BG (CALLABLE)
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 220,000.00 AA Aa2 07/14/20 07/16/20 220,796.40 0.81 248.22 220,061.37 217,151.00

UNIV OF CALIFORNIA-BG (CALLABLE)
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 510,000.00 AA Aa2 07/10/20 07/16/20 510,000.00 0.88 575.42 510,000.00 503,395.50

FLORIDA ST BRD OF ADM
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 505,000.00 AA Aa2 09/03/20 09/16/20 508,570.35 1.11 3,176.45 505,372.56 496,576.60

FLORIDA ST BRD OF ADM
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 1,295,000.00 AA Aa2 09/03/20 09/16/20 1,295,000.00 1.26 8,145.55 1,295,000.00 1,273,399.40

NJ TPK AUTH -B-TXBL
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 2,643.68 505,000.00 488,982.92 Security Type Sub-Total 3,035,000.00 3,039,366.75 1.10 14,789.32 3,035,433.93 2,979,505.42 Federal Agency Commercial Mortgage-Backed Security
FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
3137BTUM1 2,413,195.56 AA+ Aaa 05/19/23 05/24/23 2,338,914.39 4.29 6,730.80 2,372,903.47 2,355,312.65 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
3137BXQY1 4,000,000.00 AA+ Aaa 08/16/23 08/18/23 3,773,125.00 4.94 10,746.67 3,859,361.99 3,890,372.00 FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 2,275,000.00 AA+ Aaa 08/16/23 08/18/23 2,144,987.30 4.93 6,148.19 2,193,288.93 2,208,570.00 FHMS K066 A2
DTD 08/01/2017 3.117% 06/01/2027
3137F2LJ3 3,530,000.00 AA+ Aaa 08/17/23 08/22/23 3,301,101.56 4.97 9,169.18 3,382,035.28 3,413,541.77 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
3137HAMR4 3,523,601.30 AA+ Aaa 09/20/23 09/28/23 3,468,305.42 5.19 14,094.41 3,481,503.29 3,529,228.49 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
3137HAMG8 1,876,271.63 AA+ Aaa 09/07/23 09/14/23 1,848,211.98 5.01 7,270.55 1,855,288.19 1,875,177.77 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 2,785,979.26 AA+ Aaa 07/19/23 07/27/23 2,785,909.61 4.78 11,090.52 2,785,929.86 2,777,933.35 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 3,500,000.00 AA+ Aaa 07/13/23 07/20/23 3,534,958.00 4.59 14,055.42 3,524,697.09 3,507,969.50 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 9 U.S. Bancorp Asset Management, Inc.
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Managed Account Detail of Securities Held For the Month Ending December 31, 2024 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 Commercial Mortgage-Backed Security
FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
3136BQDE6 3,344,389.68 AA+ Aaa 07/18/23 07/31/23 3,287,691.82 4.58 11,652.88 3,303,809.94 3,278,214.24 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 2,027,010.14 AA+ Aaa 09/19/23 09/28/23 2,027,000.00 5.27 8,905.33 2,027,003.40 2,045,407.29 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 3,800,000.00 AA+ Aaa 09/07/23 09/14/23 3,743,786.60 4.99 14,725.00 3,757,168.63 3,791,761.60 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 3,850,000.00 AA+ Aaa 10/11/23 10/19/23 3,765,546.40 5.25 15,207.50 3,784,424.19 3,848,879.65 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 2,890,000.00 AA+ Aaa 10/25/23 10/31/23 2,797,858.13 5.60 11,680.42 2,816,406.39 2,901,271.00 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 3,800,000.00 AA+ Aaa 09/20/23 09/28/23 3,754,578.60 5.07 15,200.00 3,764,409.82 3,807,387.20 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 1,465,000.00 AA+ Aaa 11/14/23 11/21/23 1,460,764.69 5.14 6,188.40 1,461,626.79 1,480,898.18 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 2,125,000.00 AA+ Aaa 11/28/23 12/07/23 2,118,894.88 4.93 8,606.25 2,120,102.56 2,131,857.38 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
3137HBCF9 1,935,000.00 AA+ Aaa 12/11/23 12/21/23 1,953,069.03 4.79 8,062.50 1,949,658.47 1,951,702.92 FHMS K513 A2
DTD 01/01/2024 4.724% 12/01/2028
3137HBFY5 2,190,000.00 AA+ Aaa 01/10/24 01/18/24 2,211,875.91 4.50 8,621.30 2,208,039.63 2,187,396.09 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
3137HBLV4 2,220,000.00 AA+ Aaa 02/01/24 02/08/24 2,242,197.78 4.34 8,458.20 2,238,480.70 2,204,422.26 FHMS K518 A2
DTD 03/01/2024 5.400% 01/01/2029
3137HC2L5 2,715,000.00 AA+ Aaa 03/19/24 03/28/24 2,780,553.68 4.83 12,217.50 2,772,144.65 2,779,155.45 FHMS K517 A2
DTD 03/01/2024 5.355% 01/01/2029
3137HC2C5 3,355,000.00 AA+ Aaa 03/05/24 03/14/24 3,455,603.03 4.67 14,971.69 3,440,703.33 3,427,830.34 FHMS K515 A2
DTD 02/01/2024 5.400% 01/01/2029
3137HBPD0 3,750,000.00 AA+ Aaa 02/14/24 02/22/24 3,851,025.00 4.79 16,875.00 3,835,149.90 3,828,963.75 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 10 U.S. Bancorp Asset Management, Inc.
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Managed Account Detail of Securities Held For the Month Ending December 31, 2024 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 Commercial Mortgage-Backed Security
FHMS K516 A2
DTD 03/01/2024 5.477% 01/01/2029
3137HBPM0 3,750,000.00 AA+ Aaa 02/29/24 03/07/24 3,862,488.75 4.79 17,115.63 3,845,530.83 3,848,028.75 FHMS K520 A2
DTD 04/01/2024 5.180% 03/01/2029
3137HCKV3 2,125,000.00 AA+ Aaa 04/23/24 04/30/24 2,133,625.38 5.09 9,172.92 2,132,693.19 2,156,736.88 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
3137HDV56 3,245,000.00 AA+ Aaa 07/16/24 07/25/24 3,264,927.54 4.58 12,763.67 3,263,615.26 3,238,344.51 FHMS K522 A2
DTD 06/01/2024 4.803% 05/01/2029
3137HDJJ0 3,850,000.00 AA+ Aaa 06/05/24 06/13/24 3,849,988.45 4.80 15,409.63 3,850,000.00 3,852,013.55 FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
3137HDXL9 3,500,000.00 AA+ Aaa 08/07/24 08/15/24 3,532,739.00 4.33 13,250.42 3,530,488.92 3,465,581.00 FHMS K530 A2
DTD 11/01/2024 4.792% 09/01/2029
3137HHJL6 3,980,000.00 AA+ Aaa 11/19/24 11/27/24 4,000,723.86 4.67 15,893.47 4,000,683.19 3,981,102.46 Security Type Sub-Total 83,820,447.57 83,290,451.79 4.84 324,283.45 83,557,147.89 83,765,060.03 Federal Agency Bond / Note

FANNIE MAE
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 2,039,866.96 1,976,268.36

FANNIE MAE
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 2,213,648.20 2,145,801.19 Security Type Sub-Total 4,255,000.00 4,246,295.10 0.54 3,191.25 4,253,515.16 4,122,069.55 Corporate Note

BRISTOL-MYERS SQUIBB CO (CALLABLE)
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 2,226,221.38 2,160,247.83

BANK OF NY MELLON CORP (CALLABLE)
DTD 01/28/2021 0.750% 01/28/2026
06406RAQ0 3,465,000.00 A Aa3 02/02/21 02/04/21 3,465,831.60 0.75 11,044.69 3,465,179.39 3,328,905.20

BANK OF AMERICA CORP (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 2,017,416.38 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 11 U.S. Bancorp Asset Management, Inc.
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Managed Account Detail of Securities Held For the Month Ending December 31, 2024 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)
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 3,011,932.34 2,908,626.00

BANK OF AMERICA NA (CALLABLE)
DTD 08/18/2023 5.526% 08/18/2026
06428CAA2 3,750,000.00 A+ Aa1 08/15/23 08/18/23 3,749,700.00 5.53 76,558.13 3,749,836.94 3,799,350.00

MASTERCARD INC (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 2,499,238.79 2,489,379.84

JP MORGAN CHASE BANK NA (CALLABLE)
DTD 12/08/2023 5.110% 12/08/2026
48125LRU8 850,000.00 AA- Aa2 06/03/24 06/04/24 849,226.50 5.15 2,775.01 849,396.70 858,986.20

JP MORGAN CHASE BANK NA (CALLABLE)
DTD 12/08/2023 5.110% 12/08/2026
48125LRU8 3,500,000.00 AA- Aa2 12/05/23 12/08/23 3,500,000.00 5.11 11,426.53 3,500,000.00 3,537,002.00

TARGET CORP (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 3,281.96 364,745.70 347,213.55

MICROSOFT CORP (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 2,956,508.96 2,937,117.00

HOME DEPOT INC (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 3,490,523.32 3,458,574.94

JPMORGAN CHASE & CO (CALLABLE)
DTD 02/24/2022 2.947% 02/24/2028
46647PCW4 1,535,000.00 A A1 09/14/23 09/18/23 1,403,557.95 5.13 15,958.41 1,441,689.32 1,476,815.83

WALMART INC (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 10,044.67 1,218,177.03 1,197,660.58

APPLE INC (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 5,210,960.28 5,120,096.80

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 495,000.00 A A1 07/13/23 07/14/23 501,732.00 4.64 11,366.44 499,761.02 499,781.70

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 895,000.00 A A1 07/14/23 07/18/23 903,690.45 4.73 20,551.44 901,159.77 903,645.70

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 1,165,000.00 A A1 07/11/23 07/14/23 1,163,264.15 4.98 26,751.31 1,163,772.37 1,176,253.90 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 12 U.S. Bancorp Asset Management, Inc.
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Managed Account Detail of Securities Held For the Month Ending December 31, 2024 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

PACCAR FINANCIAL CORP
DTD 08/10/2023 4.950% 08/10/2028
69371RS64 1,130,000.00 A+ A1 08/17/23 08/21/23 1,122,914.90 5.09 21,907.88 1,124,855.48 1,138,706.65

TOYOTA MOTOR CREDIT CORP
DTD 09/11/2023 5.250% 09/11/2028
89236TLB9 2,800,000.00 A+ A1 09/06/23 09/11/23 2,795,128.00 5.29 44,916.67 2,796,287.15 2,839,718.00

CITIBANK NA (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
17325FBB3 5,650,000.00 A+ Aa3 09/26/23 09/29/23 5,650,000.00 5.80 83,788.87 5,650,000.00 5,825,856.25

STATE STREET CORP (CALLABLE)
DTD 08/20/2024 4.530% 02/20/2029
857477CN1 1,900,000.00 A Aa3 08/14/24 08/20/24 1,900,000.00 4.53 31,319.92 1,900,000.00 1,878,533.80

BLACKROCK FUNDING INC (CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 365,000.00 AA- Aa3 03/05/24 03/14/24 364,339.35 4.74 5,098.85 364,435.94 365,323.76

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 1,295,000.00 A+ A1 04/03/24 04/05/24 1,296,709.40 4.77 15,022.00 1,296,479.12 1,301,880.34

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 1,580,000.00 A+ A1 04/01/24 04/04/24 1,577,645.80 4.83 18,328.00 1,577,961.34 1,588,394.54

PEPSICO INC (CALLABLE)
DTD 07/17/2024 4.500% 07/17/2029
713448FX1 1,935,000.00 A+ A1 07/15/24 07/17/24 1,932,000.75 4.53 39,667.50 1,932,254.82 1,931,110.65

ELI LILLY & CO (CALLABLE)
DTD 08/14/2024 4.200% 08/14/2029
532457CQ9 660,000.00 A+ A1 08/12/24 08/14/24 658,554.60 4.25 10,549.00 658,656.67 647,137.26

ELI LILLY & CO (CALLABLE)
DTD 08/14/2024 4.200% 08/14/2029
532457CQ9 2,290,000.00 A+ A1 08/13/24 08/14/24 2,293,343.40 4.17 36,601.83 2,293,116.67 2,245,370.19 Security Type Sub-Total 58,470,000.00 57,948,659.85 4.20 652,506.26 58,168,150.50 57,979,104.89 Certificate of Deposit

COOPERAT RABOBANK UA/NY
DTD 07/20/2023 5.080% 07/17/2026
21684LGS5 3,500,000.00 A+ Aa2 07/17/23 07/20/23 3,500,000.00 5.08 80,997.78 3,500,000.00 3,567,970.00 Security Type Sub-Total 3,500,000.00 3,500,000.00 5.08 80,997.78 3,500,000.00 3,567,970.00 Bank Note
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 13 U.S. Bancorp Asset Management, Inc.
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Managed Account Detail of Securities Held For the Month Ending December 31, 2024 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
Bank Note

WELLS FARGO BANK NA (CALLABLE)
DTD 08/09/2023 5.450% 08/07/2026
94988J6D4 5,635,000.00 A+ Aa2 08/15/23 08/17/23 5,621,645.05 5.54 122,843.00 5,627,810.79 5,702,456.59

MORGAN STANLEY BANK NA (CALLABLE)
DTD 05/30/2024 5.504% 05/26/2028
61690U8B9 1,360,000.00 A+ Aa3 05/28/24 05/30/24 1,360,000.00 5.50 7,277.51 1,360,000.00 1,378,961.12

MORGAN STANLEY BANK NA (CALLABLE)
DTD 05/30/2024 5.504% 05/26/2028
61690U8B9 2,640,000.00 A+ Aa3 05/30/24 05/31/24 2,645,570.40 5.45 14,126.93 2,644,232.32 2,676,806.88 Security Type Sub-Total 9,635,000.00 9,627,215.45 5.51 144,247.44 9,632,043.11 9,758,224.59 Asset-Backed Security
TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
89239BAC5 68,337.38 AAA Aaa 09/21/21 09/27/21 68,331.93 0.43 13.06 68,336.07 68,115.01 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 48,589.70 AAA NR 11/09/21 11/17/21 48,578.86 0.75 15.98 48,586.39 48,394.86 CCCIT 2023-A1 A1
DTD 12/11/2023 5.230% 12/08/2027
17305EGW9 835,000.00 AAA Aaa 12/04/23 12/11/23 834,895.29 5.23 2,790.06 834,921.42 840,414.98 KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
500945AC4 890,000.00 NR Aaa 07/18/23 07/26/23 889,775.19 5.29 2,088.53 889,847.01 899,238.20 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
06428AAC2 1,465,000.00 NR Aaa 07/25/23 07/31/23 1,464,944.48 5.53 3,600.64 1,464,961.81 1,479,560.64 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1 2,220,000.00 AAA NR 08/15/23 08/22/23 2,219,542.24 5.42 4,337.02 2,219,680.76 2,242,120.08 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
89231FAD2 690,000.00 AAA NR 08/08/23 08/15/23 689,843.92 5.17 1,582.40 689,889.95 695,386.14 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
90291VAC4 3,015,000.00 AAA Aaa 09/07/23 09/15/23 3,014,472.38 5.58 7,477.20 3,014,611.60 3,043,690.74 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
06054YAC1 2,925,000.00 NR Aaa 11/15/23 11/21/23 2,924,947.06 5.76 7,462.00 2,922,777.88 2,968,301.70 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 765,000.00 AAA NR 11/07/23 11/14/23 764,917.53 5.54 1,883.60 764,937.37 776,214.14 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 14 U.S. Bancorp Asset Management, Inc.
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Managed Account Detail of Securities Held For the Month Ending December 31, 2024 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
Asset-Backed Security
FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 2,425,000.00 AAA Aaa 08/15/23 08/23/23 2,424,849.65 5.53 5,960.11 2,424,890.59 2,451,597.40 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 3,020,000.00 AAA NR 09/07/23 09/15/23 3,019,162.86 5.17 6,925.87 3,019,359.61 3,055,367.22 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 3,090,000.00 AAA NR 09/12/23 09/19/23 3,089,861.88 5.24 7,182.53 3,088,525.23 3,129,323.34 HART 2023-C A3
DTD 11/13/2023 5.540% 10/16/2028
44918CAD4 1,130,000.00 AAA NR 11/03/23 11/13/23 1,129,851.41 5.54 2,782.31 1,129,884.31 1,146,615.52 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 1,365,000.00 NR Aaa 12/07/23 12/14/23 1,364,816.68 4.98 3,021.20 1,364,856.06 1,378,146.32 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
36268GAD7 365,000.00 NR Aaa 01/09/24 01/17/24 364,926.60 4.85 737.60 364,939.57 366,864.42 CHAIT 2024-A1 A
DTD 01/31/2024 4.600% 01/16/2029
161571HV9 3,390,000.00 AAA NR 01/24/24 01/31/24 3,389,483.70 4.60 6,930.67 3,389,575.67 3,398,498.73 Security Type Sub-Total 27,706,927.08 27,703,201.66 5.29 64,790.78 27,700,581.30 27,987,849.44 Managed Account Sub-Total 442,117,374.66 432,955,212.34 3.78 2,602,979.29 438,163,055.49 433,729,377.50 $442,117,374.66 $432,955,212.34 3.78% $2,602,979.29 $438,163,055.49 $433,729,377.50 $436,332,356.79
$2,602,979.29
Total Investments
Accrued Interest
Securities Sub-Total
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 15 U.S. Bancorp Asset Management, Inc.
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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2024 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 912828XB1 11,015,000.00 MorganSt 99.22 10,928,686.46 234,240.17 33,848.54 DTD 05/15/2015 2.125% 05/15/2025

0.36 5.02
US TREASURY N/B 91282CHN4 10,805,000.00 WellsFar 100.28 10,834,756.97 35,665.95 33,218.45 DTD 07/31/2023 4.750% 07/31/2025

0.56 4.37
US TREASURY N/B 91282CFK2 11,115,000.00 Nomura 99.47 11,055,845.97 (5,749.93) (21,427.46) DTD 09/15/2022 3.500% 09/15/2025

0.69 4.43
US TREASURY N/B 91282CAT8 5,010,000.00 HSBC 96.78 4,848,507.66 (45,831.79) (140,188.30) DTD 11/02/2020 0.250% 10/31/2025

0.82 4.44
US TREASURY N/B 91282CAT8 6,930,000.00 TD Secur 96.78 6,706,618.38 (76,660.53) (193,464.74) DTD 11/02/2020 0.250% 10/31/2025

0.82 4.44
US TREASURY N/B 91282CAZ4 4,250,000.00 WellsFar 96.56 4,104,004.00 (29,287.02) (119,895.20) DTD 11/30/2020 0.375% 11/30/2025

0.90 4.33
US TREASURY N/B 91282CAZ4 4,635,000.00 WellsFar 96.56 4,475,778.48 220,993.32 (64,239.12) DTD 11/30/2020 0.375% 11/30/2025

0.90 4.33
US TREASURY N/B 91282CBC4 500,000.00 HSBC 96.29 481,457.00 (17,156.28) (18,261.17) DTD 12/31/2020 0.375% 12/31/2025

0.98 4.22
US TREASURY N/B 91282CBC4 1,040,000.00 Citigrou 96.29 1,001,430.56 (34,547.57) (37,764.18) DTD 12/31/2020 0.375% 12/31/2025

0.98 4.22
US TREASURY N/B 91282CBC4 3,735,000.00 JPMorgan 96.29 3,596,483.79 (49,955.86) (119,871.93) DTD 12/31/2020 0.375% 12/31/2025

0.98 4.22
US TREASURY N/B 91282CBH3 2,400,000.00 BNPPSA 95.95 2,302,780.80 (51,094.20) (86,302.86) DTD 02/01/2021 0.375% 01/31/2026

1.06 4.28
US TREASURY N/B 91282CBH3 5,000,000.00 Nomura 95.95 4,797,460.00 77,928.75 (125,765.81) DTD 02/01/2021 0.375% 01/31/2026

1.06 4.28
US TREASURY N/B 91282CBH3 5,775,000.00 MorganSt 95.95 5,541,066.30 (29,101.67) (179,486.42) DTD 02/01/2021 0.375% 01/31/2026

1.06 4.28
US TREASURY N/B 91282CBH3 7,980,000.00 JPMorgan 95.95 7,656,746.16 399,933.66 (114,438.74) DTD 02/01/2021 0.375% 01/31/2026

1.06 4.28
US TREASURY N/B 9128286F2 3,210,000.00 GoldmanS 98.04 3,146,929.92 (345,951.33) (128,636.53) DTD 02/28/2019 2.500% 02/28/2026

1.12 4.26
US TREASURY N/B 91282CBQ3 4,645,000.00 Nomura 95.80 4,450,128.32 190,155.27 (80,418.83) DTD 03/01/2021 0.500% 02/28/2026

1.13 4.25
US TREASURY N/B 91282CBQ3 6,000,000.00 WellsFar 95.80 5,748,282.00 (89,999.25) (207,412.93) DTD 03/01/2021 0.500% 02/28/2026

1.13 4.25
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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2024 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 91282CBT7 2,480,000.00 WellsFar 95.78 2,375,376.24 (103,655.01) (104,359.45) DTD 03/31/2021 0.750% 03/31/2026

1.21 4.27
US TREASURY N/B 91282CBT7 4,925,000.00 MorganSt 95.78 4,717,229.03 (179,490.70) (200,622.17) DTD 03/31/2021 0.750% 03/31/2026

1.21 4.27
US TREASURY N/B 91282CCF6 1,405,000.00 BOFAML 95.24 1,338,098.12 (58,888.99) (64,610.58) DTD 06/01/2021 0.750% 05/31/2026

1.38 4.26
US TREASURY N/B 91282CCF6 4,615,000.00 Nomura 95.24 4,395,247.55 141,695.79 (96,883.91) DTD 06/01/2021 0.750% 05/31/2026

1.38 4.26
US TREASURY N/B 91282CCF6 4,800,000.00 Citigrou 95.24 4,571,438.40 172,313.40 (86,475.83) DTD 06/01/2021 0.750% 05/31/2026

1.38 4.26
US TREASURY N/B 91282CCW9 4,640,000.00 RBC Capi 94.43 4,381,538.08 123,431.83 (114,212.07) DTD 08/31/2021 0.750% 08/31/2026

1.62 4.27
US TREASURY N/B 91282CCZ2 4,310,000.00 RBC Capi 94.36 4,067,058.23 98,659.40 (110,015.72) DTD 09/30/2021 0.875% 09/30/2026

1.70 4.27
US TREASURY N/B 912828U24 4,545,000.00 RBC Capi 95.97 4,361,781.96 5,861.06 (103,550.53) DTD 11/15/2016 2.000% 11/15/2026

1.81 4.27
US TREASURY N/B 912828V98 9,220,000.00 JPMorgan 95.96 8,847,235.40 (134,341.16) (263,038.85) DTD 02/15/2017 2.250% 02/15/2027

2.03 4.27
US TREASURY N/B 91282CEF4 910,000.00 Barclays 96.28 876,159.83 21,186.39 (5,352.97) DTD 03/31/2022 2.500% 03/31/2027

2.14 4.25
US TREASURY N/B 912828ZN3 6,480,000.00 Nomura 91.72 5,943,378.24 151,878.24 (198,543.97) DTD 04/30/2020 0.500% 04/30/2027

2.27 4.28
US TREASURY N/B 912828ZV5 5,545,000.00 WellsFar 91.16 5,055,049.35 134,295.05 (171,707.74) DTD 06/30/2020 0.500% 06/30/2027

2.43 4.27
US TREASURY N/B 9128282R0 1,200,000.00 BNPPSA 95.04 1,140,516.00 (2,109.00) (29,179.86) DTD 08/15/2017 2.250% 08/15/2027

2.48 4.35
US TREASURY N/B 9128282R0 2,985,000.00 HSBC 95.04 2,837,033.55 6,997.03 (65,846.11) DTD 08/15/2017 2.250% 08/15/2027

2.48 4.35
US TREASURY N/B 91282CFM8 5,380,000.00 BOFAML 99.59 5,358,146.44 13,242.53 (2,229.52) DTD 09/30/2022 4.125% 09/30/2027

2.55 4.28
US TREASURY N/B 91282CFU0 2,715,000.00 Nomura 99.59 2,703,971.67 (48,783.80) (32,841.19) DTD 10/31/2022 4.125% 10/31/2027

2.63 4.28
US TREASURY N/B 91282CFU0 3,160,000.00 JPMorgan 99.59 3,147,164.08 (82,331.23) (53,121.36) DTD 10/31/2022 4.125% 10/31/2027

2.63 4.28
PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 17 U.S. Bancorp Asset Management, Inc.
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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2024 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 91282CAU5 8,775,000.00 WellsFar 90.00 7,897,500.00 424,696.29 (112,765.05) DTD 11/02/2020 0.500% 10/31/2027

2.75 4.37
US TREASURY N/B 91282CGC9 4,250,000.00 Nomura 98.84 4,200,691.50 (66,242.09) (60,401.52) DTD 01/03/2023 3.875% 12/31/2027

2.80 4.29
US TREASURY N/B 91282CGH8 2,220,000.00 BNPPSA 97.70 2,168,835.66 (49,429.97) (50,029.28) DTD 01/31/2023 3.500% 01/31/2028

2.85 4.30
US TREASURY N/B 91282CBJ9 3,450,000.00 HSBC 89.84 3,099,473.10 104,711.38 (70,054.25) DTD 02/01/2021 0.750% 01/31/2028

2.98 4.31
US TREASURY N/B 91282CGP0 1,120,000.00 JPMorgan 99.08 1,109,674.72 4,330.97 (1,037.36) DTD 02/28/2023 4.000% 02/29/2028

2.90 4.31
US TREASURY N/B 91282CGP0 2,825,000.00 TD Secur 99.08 2,798,956.33 5,296.17 (6,172.14) DTD 02/28/2023 4.000% 02/29/2028

2.90 4.31
US TREASURY N/B 91282CBS9 2,555,000.00 BNPPSA 90.81 2,320,159.73 20,759.53 (65,441.07) DTD 03/31/2021 1.250% 03/31/2028

3.11 4.40
US TREASURY N/B 91282CGT2 2,675,000.00 RBS 97.93 2,619,619.48 (52,559.23) (53,518.00) DTD 03/31/2023 3.625% 03/31/2028

3.00 4.31
US TREASURY N/B 91282CHA2 2,810,000.00 Barclays 97.46 2,738,760.88 (58,177.01) (62,547.74) DTD 05/01/2023 3.500% 04/30/2028

3.09 4.32
US TREASURY N/B 91282CHA2 6,530,000.00 GoldmanS 97.46 6,364,451.44 (195,392.70) (185,439.20) DTD 05/01/2023 3.500% 04/30/2028

3.09 4.32
US TREASURY N/B 91282CKG5 3,450,000.00 BMO 99.00 3,415,634.55 3,773.22 (1,305.54) DTD 04/01/2024 4.125% 03/31/2029

3.82 4.36
US TREASURY N/B 91282CKP5 4,430,000.00 JPMorgan 100.95 4,471,876.79 (99,848.60) (93,823.79) DTD 04/30/2024 4.625% 04/30/2029

3.87 4.37
US TREASURY N/B 91282CKP5 5,190,000.00 GoldmanS 100.95 5,239,061.07 37,099.74 38,532.77 DTD 04/30/2024 4.625% 04/30/2029

3.87 4.37
US TREASURY N/B 91282CKT7 1,430,000.00 JPMorgan 100.46 1,436,646.64 (6,312.74) (4,969.05) DTD 05/31/2024 4.500% 05/31/2029

3.96 4.45
US TREASURY N/B 91282CKT7 4,190,000.00 JPMorgan 100.46 4,209,475.12 (15,223.32) (11,611.97) DTD 05/31/2024 4.500% 05/31/2029

3.96 4.45
US TREASURY N/B 91282CKX8 2,920,000.00 Citigrou 99.43 2,903,461.12 6,501.74 4,422.86 DTD 07/01/2024 4.250% 06/30/2029

4.05 4.37
US TREASURY N/B 91282CLC3 2,105,000.00 Citigrou 98.40 2,071,368.42 (48,267.91) (47,163.72) DTD 07/31/2024 4.000% 07/31/2029

4.07 4.37
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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2024 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 91282CLK5 7,550,000.00 Citigrou 96.81 7,309,343.75 (256,287.11) (255,375.10) DTD 09/03/2024 3.625% 08/31/2029

4.19 4.37
US TREASURY N/B 91282CLN9 8,695,000.00 TD Secur 96.21 8,365,198.65 (305,007.01) (306,163.25) DTD 09/30/2024 3.500% 09/30/2029

4.28 4.37
US TREASURY N/B 91282CLR0 4,850,000.00 HSBC 98.84 4,793,541.15 (44,523.30) (44,885.07) DTD 10/31/2024 4.125% 10/31/2029

4.31 4.37
US TREASURY N/B 91282CMA6 6,315,000.00 WellsFar 98.85 6,242,478.54 (83,868.73) (83,743.49) DTD 12/02/2024 4.125% 11/30/2029

4.39 4.37
Security Type Sub-Total 251,695,000.00 243,569,593.58 (30,428.16) (4,746,590.02) 2.12 4.36 Municipal Bond / Note
UNIV OF CALIFORNIA-BG (CALLABLE) 91412HGE7 220,000.00 JPMorgan 04/15/25 98.71 217,151.00 (3,645.40) (2,910.37) DTD 07/16/2020 0.883% 05/15/2025

0.36 4.44
UNIV OF CALIFORNIA-BG (CALLABLE) 91412HGE7 510,000.00 JPMorgan 04/15/25 98.71 503,395.50 (6,604.50) (6,604.50) DTD 07/16/2020 0.883% 05/15/2025

0.36 4.44
FLORIDA ST BRD OF ADM 341271AD6 505,000.00 BOFAML 98.33 496,576.60 (11,993.75) (8,795.96) DTD 09/16/2020 1.258% 07/01/2025

0.49 4.73
FLORIDA ST BRD OF ADM 341271AD6 1,295,000.00 BOFAML 98.33 1,273,399.40 (21,600.60) (21,600.60) DTD 09/16/2020 1.258% 07/01/2025

0.49 4.73
NJ TPK AUTH -B-TXBL 646140DP5 505,000.00 Citigrou 96.83 488,982.92 (16,017.08) (16,017.08) DTD 02/04/2021 1.047% 01/01/2026

0.98 4.44
Security Type Sub-Total 3,035,000.00 2,979,505.42 (59,861.33) (55,928.51) 0.54 4.61 Federal Agency Commercial Mortgage-Backed Security
FHMS K061 A2 3137BTUM1 2,413,195.56 Citigrou 97.60 2,355,312.65 16,398.26 (17,590.82) DTD 01/01/2017 3.347% 11/01/2026

1.71 4.65
FHMS K064 A2 3137BXQY1 4,000,000.00 MorganSt 97.26 3,890,372.00 117,247.00 31,010.01 DTD 05/01/2017 3.224% 03/01/2027

1.96 4.54
FHMS K065 A2 3137F1G44 2,275,000.00 Citigrou 97.08 2,208,570.00 63,582.70 15,281.07 DTD 07/01/2017 3.243% 04/01/2027

2.11 4.56
FHMS K066 A2 3137F2LJ3 3,530,000.00 CantorFi 96.70 3,413,541.77 112,440.21 31,506.49 DTD 08/01/2017 3.117% 06/01/2027

2.19 4.56
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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2024 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
FHMS K507 A1 3137HAMR4 3,523,601.30 BOFAML 100.16 3,529,228.49 60,923.07 47,725.20 DTD 09/01/2023 4.800% 04/01/2028

2.63 4.65
FHMS K506 A1 3137HAMG8 1,876,271.63 WellsFar 99.94 1,875,177.77 26,965.79 19,889.58 DTD 09/01/2023 4.650% 05/01/2028

2.81 4.59
FHMS KJ46 A1 3137HAD45 2,785,979.26 JPMorgan 99.71 2,777,933.35 (7,976.26) (7,996.51) DTD 07/01/2023 4.777% 06/01/2028

2.28 4.80
FHMS K505 A2 3137HACX2 3,500,000.00 JPMorgan 100.23 3,507,969.50 (26,988.50) (16,727.59) DTD 07/01/2023 4.819% 06/01/2028

3.06 4.67
FNA 2023-M6 A2 3136BQDE6 3,344,389.68 JPMorgan 98.02 3,278,214.24 (9,477.58) (25,595.70) DTD 07/01/2023 4.181% 07/01/2028

3.20 4.74
FHMS KJ47 A1 3137HAMN3 2,027,010.14 JPMorgan 100.91 2,045,407.29 18,407.29 18,403.89 DTD 09/01/2023 5.272% 08/01/2028

2.53 4.82
FHMS K506 A2 3137HAMH6 3,800,000.00 WellsFar 99.78 3,791,761.60 47,975.00 34,592.97 DTD 09/01/2023 4.650% 08/01/2028

3.20 4.65
FHMS K508 A2 3137HAQ74 3,850,000.00 BMO 99.97 3,848,879.65 83,333.25 64,455.46 DTD 10/01/2023 4.740% 08/01/2028

3.23 4.68
FHMS K509 A2 3137HAST4 2,890,000.00 MorganSt 100.39 2,901,271.00 103,412.87 84,864.61 DTD 10/01/2023 4.850% 09/01/2028

3.30 4.67
FHMS K507 A2 3137HAMS2 3,800,000.00 BOFAML 100.19 3,807,387.20 52,808.60 42,977.38 DTD 09/01/2023 4.800% 09/01/2028

3.26 4.67
FHMS K510 A2 3137HB3D4 1,465,000.00 JPMorgan 101.09 1,480,898.18 20,133.49 19,271.39 DTD 11/01/2023 5.069% 10/01/2028

3.33 4.68
FHMS K511 A2 3137HB3G7 2,125,000.00 BOFAML 100.32 2,131,857.38 12,962.50 11,754.82 DTD 12/01/2023 4.860% 10/01/2028

3.37 4.70
FHMS K512 A2 3137HBCF9 1,935,000.00 JPMorgan 100.86 1,951,702.92 (1,366.11) 2,044.45 DTD 12/01/2023 5.000% 11/01/2028

3.38 4.68
FHMS K513 A2 3137HBFY5 2,190,000.00 BMO 99.88 2,187,396.09 (24,479.82) (20,643.54) DTD 01/01/2024 4.724% 12/01/2028

3.50 4.70
FHMS K514 A2 3137HBLV4 2,220,000.00 JPMorgan 99.30 2,204,422.26 (37,775.52) (34,058.44) DTD 02/01/2024 4.572% 12/01/2028

3.46 4.71
FHMS K518 A2 3137HC2L5 2,715,000.00 JPMorgan 102.36 2,779,155.45 (1,398.23) 7,010.80 DTD 03/01/2024 5.400% 01/01/2029

3.57 4.68
FHMS K517 A2 3137HC2C5 3,355,000.00 BOFAML 102.17 3,427,830.34 (27,772.69) (12,872.99) DTD 03/01/2024 5.355% 01/01/2029

3.58 4.69
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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2024 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
FHMS K515 A2 3137HBPD0 3,750,000.00 WellsFar 102.11 3,828,963.75 (22,061.25) (6,186.15) DTD 02/01/2024 5.400% 01/01/2029

3.49 4.74
FHMS K516 A2 3137HBPM0 3,750,000.00 MorganSt 102.61 3,848,028.75 (14,460.00) 2,497.92 DTD 03/01/2024 5.477% 01/01/2029

3.52 4.68
FHMS K520 A2 3137HCKV3 2,125,000.00 BOFAML 101.49 2,156,736.88 23,111.50 24,043.69 DTD 04/01/2024 5.180% 03/01/2029

3.69 4.72
FHMS K524 A2 3137HDV56 3,245,000.00 PIER 99.79 3,238,344.51 (26,583.03) (25,270.75) DTD 07/01/2024 4.720% 05/01/2029

3.87 4.72
FHMS K522 A2 3137HDJJ0 3,850,000.00 MorganSt 100.05 3,852,013.55 2,025.10 2,013.55 DTD 06/01/2024 4.803% 05/01/2029

3.77 4.73
FHMS K526 A2 3137HDXL9 3,500,000.00 BMO 99.02 3,465,581.00 (67,158.00) (64,907.92) DTD 08/01/2024 4.543% 07/01/2029

4.02 4.74
FHMS K530 A2 3137HHJL6 3,980,000.00 JPMorgan 100.03 3,981,102.46 (19,621.40) (19,580.73) DTD 11/01/2024 4.792% 09/01/2029

4.13 4.73
Security Type Sub-Total 83,820,447.57 83,765,060.03 474,608.24 207,912.14 3.18 4.68 Federal Agency Bond / Note
FANNIE MAE 3135G06G3 2,040,000.00 Nomura 96.88 1,976,268.36 (62,956.44) (63,598.60) DTD 11/12/2020 0.500% 11/07/2025

0.84 4.38
FANNIE MAE 3135G06G3 2,215,000.00 Barclays 96.88 2,145,801.19 (61,269.11) (67,847.01) DTD 11/12/2020 0.500% 11/07/2025

0.84 4.38
Security Type Sub-Total 4,255,000.00 4,122,069.55 (124,225.55) (131,445.61) 0.84 4.38 Corporate Note
BRISTOL-MYERS SQUIBB CO (CALLABLE) 110122DN5 2,230,000.00 BOFAML 10/13/25 96.87 2,160,247.83 (50,641.07) (65,973.55) DTD 11/13/2020 0.750% 11/13/2025

0.85 4.50
BANK OF NY MELLON CORP (CALLABLE) 06406RAQ0 3,465,000.00 US_BANC 12/28/25 96.07 3,328,905.20 (136,926.40) (136,274.19) DTD 01/28/2021 0.750% 01/28/2026

1.05 4.56
BANK OF AMERICA CORP (CALLABLE) 06051GKM0 2,025,000.00 BOFAML 04/02/25 99.63 2,017,416.38 (7,583.62) (7,583.62) DTD 03/22/2022 3.384% 04/02/2026

0.25 5.65
MICROSOFT CORP (CALLABLE) 594918BR4 3,000,000.00 TD Secur 05/08/26 96.95 2,908,626.00 (124,524.00) (103,306.34) DTD 08/08/2016 2.400% 08/08/2026

1.52 4.38
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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2024 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
BANK OF AMERICA NA (CALLABLE) 06428CAA2 3,750,000.00 BOFAML 07/17/26 101.32 3,799,350.00 49,650.00 49,513.06 DTD 08/18/2023 5.526% 08/18/2026

1.46 4.66
MASTERCARD INC (CALLABLE) 57636QAG9 2,560,000.00 CSFirstB 08/21/26 97.24 2,489,379.84 55,280.64 (9,858.95) DTD 11/21/2016 2.950% 11/21/2026

1.77 4.50
JP MORGAN CHASE BANK NA (CALLABLE) 48125LRU8 850,000.00 Citigrou 11/08/26 101.06 858,986.20 9,759.70 9,589.50 DTD 12/08/2023 5.110% 12/08/2026

1.78 4.55
JP MORGAN CHASE BANK NA (CALLABLE) 48125LRU8 3,500,000.00 JPMorgan 11/08/26 101.06 3,537,002.00 37,002.00 37,002.00 DTD 12/08/2023 5.110% 12/08/2026

1.78 4.55
TARGET CORP (CALLABLE) 87612EBM7 365,000.00 Citigrou 12/15/26 95.13 347,213.55 (17,165.95) (17,532.15) DTD 01/24/2022 1.950% 01/15/2027

1.94 4.45
MICROSOFT CORP (CALLABLE) 594918BY9 3,000,000.00 GoldmanS 11/06/26 97.90 2,937,117.00 22,947.00 (19,391.96) DTD 02/06/2017 3.300% 02/06/2027

1.92 4.36
HOME DEPOT INC (CALLABLE) 437076BT8 3,610,000.00 TD Secur 06/14/27 95.81 3,458,574.94 52,900.94 (31,948.38) DTD 09/14/2017 2.800% 09/14/2027

2.50 4.47
JPMORGAN CHASE & CO (CALLABLE) 46647PCW4 1,535,000.00 BOFAML 02/24/27 96.21 1,476,815.83 73,257.88 35,126.51 DTD 02/24/2022 2.947% 02/24/2028

2.03 5.09
WALMART INC (CALLABLE) 931142FB4 1,220,000.00 Barclays 03/15/28 98.17 1,197,660.58 (19,618.82) (20,516.45) DTD 04/18/2023 3.900% 04/15/2028

3.00 4.48
APPLE INC (CALLABLE) 037833ET3 5,200,000.00 HSBC 04/10/28 98.46 5,120,096.80 (96,283.20) (90,863.48) DTD 05/10/2023 4.000% 05/10/2028

3.06 4.43
JOHN DEERE CAPITAL CORP 24422EXB0 495,000.00 SBSC 100.97 499,781.70 (1,950.30) 20.68 DTD 07/14/2023 4.950% 07/14/2028

3.14 4.64
JOHN DEERE CAPITAL CORP 24422EXB0 895,000.00 TD Secur 100.97 903,645.70 (44.75) 2,485.93 DTD 07/14/2023 4.950% 07/14/2028

3.14 4.64
JOHN DEERE CAPITAL CORP 24422EXB0 1,165,000.00 Citigrou 100.97 1,176,253.90 12,989.75 12,481.53 DTD 07/14/2023 4.950% 07/14/2028

3.14 4.64
PACCAR FINANCIAL CORP 69371RS64 1,130,000.00 TD Secur 100.77 1,138,706.65 15,791.75 13,851.17 DTD 08/10/2023 4.950% 08/10/2028

3.22 4.71
TOYOTA MOTOR CREDIT CORP 89236TLB9 2,800,000.00 BOFAML 101.42 2,839,718.00 44,590.00 43,430.85 DTD 09/11/2023 5.250% 09/11/2028

3.28 4.90
CITIBANK NA (CALLABLE) 17325FBB3 5,650,000.00 Citigrou 08/29/28 103.11 5,825,856.25 175,856.25 175,856.25 DTD 09/29/2023 5.803% 09/29/2028

3.26 4.87
STATE STREET CORP (CALLABLE) 857477CN1 1,900,000.00 HSBC 02/20/28 98.87 1,878,533.80 (21,466.20) (21,466.20) DTD 08/20/2024 4.530% 02/20/2029

2.86 5.03
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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2024 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
BLACKROCK FUNDING INC (CALLABLE) 09290DAA9 365,000.00 Citigrou 02/14/29 100.09 365,323.76 984.41 887.82 DTD 03/14/2024 4.700% 03/14/2029

3.70 4.64
ADOBE INC (CALLABLE) 00724PAF6 1,295,000.00 TD Secur 03/04/29 100.53 1,301,880.34 5,170.94 5,401.22 DTD 04/04/2024 4.800% 04/04/2029

3.74 4.65
ADOBE INC (CALLABLE) 00724PAF6 1,580,000.00 BOFAML 03/04/29 100.53 1,588,394.54 10,748.74 10,433.20 DTD 04/04/2024 4.800% 04/04/2029

3.74 4.65
PEPSICO INC (CALLABLE) 713448FX1 1,935,000.00 Citigrou 06/17/29 99.80 1,931,110.65 (890.10) (1,144.17) DTD 07/17/2024 4.500% 07/17/2029

3.96 4.52
ELI LILLY & CO (CALLABLE) 532457CQ9 660,000.00 MorganSt 07/14/29 98.05 647,137.26 (11,417.34) (11,519.41) DTD 08/14/2024 4.200% 08/14/2029

4.06 4.65
ELI LILLY & CO (CALLABLE) 532457CQ9 2,290,000.00 JPMorgan 07/14/29 98.05 2,245,370.19 (47,973.21) (47,746.48) DTD 08/14/2024 4.200% 08/14/2029

4.06 4.65
Security Type Sub-Total 58,470,000.00 57,979,104.89 30,445.04 (189,045.61) 2.45 4.65 Certificate of Deposit
COOPERAT RABOBANK UA/NY 21684LGS5 3,500,000.00 RABO UA 101.94 3,567,970.00 67,970.00 67,970.00 DTD 07/20/2023 5.080% 07/17/2026

1.45 3.77
Security Type Sub-Total 3,500,000.00 3,567,970.00 67,970.00 67,970.00 1.45 3.77 Bank Note
WELLS FARGO BANK NA (CALLABLE) 94988J6D4 5,635,000.00 WellsFar 07/07/26 101.20 5,702,456.59 80,811.54 74,645.80 DTD 08/09/2023 5.450% 08/07/2026

1.44 4.68
MORGAN STANLEY BANK NA (CALLABLE) 61690U8B9 1,360,000.00 MorganSt 05/26/27 101.39 1,378,961.12 18,961.12 18,961.12 DTD 05/30/2024 5.504% 05/26/2028

2.23 5.01
MORGAN STANLEY BANK NA (CALLABLE) 61690U8B9 2,640,000.00 MorganSt 05/26/27 101.39 2,676,806.88 31,236.48 32,574.56 DTD 05/30/2024 5.504% 05/26/2028

2.23 5.01
Security Type Sub-Total 9,635,000.00 9,758,224.59 131,009.14 126,181.48 1.77 4.82 Asset-Backed Security
TAOT 2021-C A3 89239BAC5 68,337.38 Barclays 99.67 68,115.01 (216.92) (221.06) DTD 09/27/2021 0.430% 01/15/2026

0.08 4.48
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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2024 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
HART 2021-C A3 44935FAD6 48,589.70 SMBC 99.60 48,394.86 (184.00) (191.53) DTD 11/17/2021 0.740% 05/15/2026

0.11 4.35
CCCIT 2023-A1 A1 17305EGW9 835,000.00 Citigrou 100.65 840,414.98 5,519.69 5,493.56 DTD 12/11/2023 5.230% 12/08/2027

0.91 4.49
KCOT 2023-2A A3 500945AC4 890,000.00 JPMorgan 101.04 899,238.20 9,463.01 9,391.19 DTD 07/26/2023 5.280% 01/18/2028

1.35 4.56
BAAT 2023-1A A3 06428AAC2 1,465,000.00 BOFAML 100.99 1,479,560.64 14,616.16 14,598.83 DTD 07/31/2023 5.530% 02/15/2028

1.02 4.61
HAROT 2023-3 A3 43815QAC1 2,220,000.00 BOFAML 101.00 2,242,120.08 22,577.84 22,439.32 DTD 08/22/2023 5.410% 02/18/2028

1.04 4.48
TAOT 2023-C A3 89231FAD2 690,000.00 BNPPSA 100.78 695,386.14 5,542.22 5,496.19 DTD 08/15/2023 5.160% 04/17/2028

1.12 4.51
USAOT 2023-A A3 90291VAC4 3,015,000.00 JPMorgan 100.95 3,043,690.74 29,218.36 29,079.14 DTD 09/15/2023 5.580% 05/15/2028

0.96 4.64
BAAT 2023-2A A3 06054YAC1 2,925,000.00 BOFAML 101.48 2,968,301.70 43,354.64 45,523.82 DTD 11/21/2023 5.740% 06/15/2028

1.28 4.64
TAOT 2023-D A3 89239FAD4 765,000.00 JPMorgan 101.47 776,214.14 11,296.61 11,276.77 DTD 11/14/2023 5.540% 08/15/2028

1.42 4.56
FITAT 2023-1 A3 31680EAD3 2,425,000.00 JPMorgan 101.10 2,451,597.40 26,747.75 26,706.81 DTD 08/23/2023 5.530% 08/15/2028

1.14 4.62
CHAIT 2023-A1 A 161571HT4 3,020,000.00 JPMorgan 101.17 3,055,367.22 36,204.36 36,007.61 DTD 09/15/2023 5.160% 09/15/2028

1.60 4.48
AMXCA 2023-3 A 02582JKD1 3,090,000.00 Citigrou 101.27 3,129,323.34 39,461.46 40,798.11 DTD 09/19/2023 5.230% 09/15/2028

1.60 4.48
HART 2023-C A3 44918CAD4 1,130,000.00 BNPPSA 101.47 1,146,615.52 16,764.11 16,731.21 DTD 11/13/2023 5.540% 10/16/2028

1.42 4.56
BACCT 2023-A2 A2 05522RDH8 1,365,000.00 BOFAML 100.96 1,378,146.32 13,329.64 13,290.26 DTD 12/14/2023 4.980% 11/15/2028

1.75 4.47
GMCAR 2024-1 A3 36268GAD7 365,000.00 Barclays 100.51 366,864.42 1,937.82 1,924.85 DTD 01/17/2024 4.850% 12/18/2028

1.41 4.53
CHAIT 2024-A1 A 161571HV9 3,390,000.00 JPMorgan 100.25 3,398,498.73 9,015.03 8,923.06 DTD 01/31/2024 4.600% 01/16/2029

1.91 4.50
Security Type Sub-Total 27,706,927.08 27,987,849.44 284,647.78 287,268.14 1.36 4.54 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 24 U.S. Bancorp Asset Management, Inc.
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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2024 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
Managed Account Sub-Total 442,117,374.66 433,729,377.50 774,165.16 (4,433,677.99) 2.28 4.48 Total Investments $436,332,356.79
$2,602,979.29
$433,729,377.50
Accrued Interest
Securities Sub-Total $442,117,374.66 $774,165.16 ($4,433,677.99) 2.28 4.48% PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 25 U.S. Bancorp Asset Management, Inc.
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Managed Account Security Transactions & Interest For the Month Ending December 31, 2024 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
12/06/24 US TREASURY N/B
DTD 12/02/2024 4.125% 11/30/2029
12/05/24 91282CMA6 6,315,000.00 (6,326,347.27) (4,293.85) (6,330,641.12) Transaction Type Sub-Total 6,315,000.00 (6,326,347.27) (4,293.85) (6,330,641.12)

INTEREST
12/01/24 CALIFORNIA ST DEPT OF
DTD 08/06/2020 0.560% 12/01/2024
12/01/24 13067WRB0 0.00 280.00 280.00
12/25/24 FHMS K066 A2
DTD 08/01/2017 3.117% 06/01/2027
12/01/24 3137F2LJ3 0.00 9,169.18 9,169.18
12/25/24 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
12/01/24 3137HAMS2 0.00 15,200.00 15,200.00
12/25/24 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
12/01/24 3137HBLV4 0.00 8,458.20 8,458.20
12/25/24 FHMS K516 A2
DTD 03/01/2024 5.477% 01/01/2029
12/01/24 3137HBPM0 0.00 17,115.63 17,115.63
12/25/24 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
12/01/24 3137BXQY1 0.00 10,746.67 10,746.67
12/25/24 FHMS K530 A2
DTD 11/01/2024 4.792% 09/01/2029
12/01/24 3137HHJL6 0.00 15,893.47 15,893.47
12/25/24 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
12/01/24 3137BTUM1 0.00 6,744.90 6,744.90
12/25/24 FHMS K520 A2
DTD 04/01/2024 5.180% 03/01/2029
12/01/24 3137HCKV3 0.00 9,172.92 9,172.92
12/25/24 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
12/01/24 3137HAMH6 0.00 14,725.00 14,725.00
12/25/24 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
12/01/24 3137HBCF9 0.00 8,062.50 8,062.50
12/25/24 FHMS K522 A2
DTD 06/01/2024 4.803% 05/01/2029
12/01/24 3137HDJJ0 0.00 15,409.63 15,409.63
12/25/24 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
12/01/24 3137HB3G7 0.00 8,606.25 8,606.25
12/25/24 FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
12/01/24 3137F1G44 0.00 6,148.19 6,148.19
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Managed Account Security Transactions & Interest For the Month Ending December 31, 2024 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
12/25/24 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
12/01/24 3137HACX2 0.00 14,055.42 14,055.42
12/25/24 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
12/01/24 3137HB3D4 0.00 6,188.40 6,188.40
12/25/24 FHMS K515 A2
DTD 02/01/2024 5.400% 01/01/2029
12/01/24 3137HBPD0 0.00 16,875.00 16,875.00
12/25/24 FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
12/01/24 3136BQDE6 0.00 11,652.96 11,652.96
12/25/24 FHMS K517 A2
DTD 03/01/2024 5.355% 01/01/2029
12/01/24 3137HC2C5 0.00 14,971.69 14,971.69
12/25/24 FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
12/01/24 3137HDXL9 0.00 13,250.42 13,250.42
12/25/24 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
12/01/24 3137HAMN3 0.00 8,929.54 8,929.54
12/25/24 FHMS K518 A2
DTD 03/01/2024 5.400% 01/01/2029
12/01/24 3137HC2L5 0.00 12,217.50 12,217.50
12/25/24 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
12/01/24 3137HAMG8 0.00 7,277.28 7,277.28
12/25/24 FHMS K513 A2
DTD 01/01/2024 4.724% 12/01/2028
12/01/24 3137HBFY5 0.00 8,621.30 8,621.30
12/25/24 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
12/01/24 3137HDV56 0.00 12,763.67 12,763.67
12/25/24 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
12/01/24 3137HAQ74 0.00 15,207.50 15,207.50
12/25/24 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
12/01/24 3137HAD45 0.00 11,099.72 11,099.72
12/25/24 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
12/01/24 3137HAST4 0.00 11,680.42 11,680.42
12/25/24 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
12/01/24 3137HAMR4 0.00 14,152.42 14,152.42
12/02/24 MONEY MARKET FUND
DTD 01/01/2010 0.000% --
12/02/24 MONEY0002 0.00 2,633.44 2,633.44
12/08/24 CCCIT 2023-A1 A1
DTD 12/11/2023 5.230% 12/08/2027
12/08/24 17305EGW9 0.00 21,835.25 21,835.25
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Managed Account Security Transactions & Interest For the Month Ending December 31, 2024 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
12/08/24 JP MORGAN CHASE BANK NA
(CALLABLE)
DTD 12/08/2023 5.110% 12/08/2026
12/08/24 48125LRU8 0.00 111,142.50 111,142.50
12/15/24 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
12/15/24 06054YAC1 0.00 13,991.25 13,991.25
12/15/24 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
12/15/24 89239FAD4 0.00 3,531.75 3,531.75
12/15/24 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
12/15/24 31680EAD3 0.00 11,175.21 11,175.21
12/15/24 CHAIT 2024-A1 A
DTD 01/31/2024 4.600% 01/16/2029
12/15/24 161571HV9 0.00 12,995.00 12,995.00
12/15/24 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
12/15/24 02582JKD1 0.00 13,467.25 13,467.25
12/15/24 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
12/15/24 44935FAD6 0.00 42.13 42.13
12/15/24 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
12/15/24 05522RDH8 0.00 5,664.75 5,664.75
12/15/24 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
12/15/24 89239BAC5 0.00 37.24 37.24
12/15/24 KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
12/15/24 500945AC4 0.00 3,916.00 3,916.00
12/15/24 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
12/15/24 161571HT4 0.00 12,986.00 12,986.00
12/15/24 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
12/15/24 06428AAC2 0.00 6,751.21 6,751.21
12/15/24 HART 2023-C A3
DTD 11/13/2023 5.540% 10/16/2028
12/15/24 44918CAD4 0.00 5,216.83 5,216.83
12/15/24 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
12/15/24 89231FAD2 0.00 2,967.00 2,967.00
12/15/24 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
12/15/24 90291VAC4 0.00 14,019.75 14,019.75
12/16/24 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
12/16/24 36268GAD7 0.00 1,475.21 1,475.21
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Managed Account Security Transactions & Interest For the Month Ending December 31, 2024 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
12/18/24 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
12/18/24 43815QAC1 0.00 10,008.50 10,008.50
12/31/24 US TREASURY N/B
DTD 01/03/2023 3.875% 12/31/2027
12/31/24 91282CGC9 0.00 82,343.75 82,343.75
12/31/24 US TREASURY N/B
DTD 06/30/2020 0.500% 06/30/2027
12/31/24 912828ZV5 0.00 13,862.50 13,862.50
12/31/24 US TREASURY N/B
DTD 07/01/2024 4.250% 06/30/2029
12/31/24 91282CKX8 0.00 62,050.00 62,050.00
12/31/24 US TREASURY N/B
DTD 12/31/2020 0.375% 12/31/2025
12/31/24 91282CBC4 0.00 9,890.63 9,890.63
Transaction Type Sub-Total 0.00 746,678.93 746,678.93

MATURITY
12/01/24 CALIFORNIA ST DEPT OF
DTD 08/06/2020 0.560% 12/01/2024
12/01/24 13067WRB0 100,000.00 100,000.00 0.00 100,000.00 0.00 0.00 Transaction Type Sub-Total 100,000.00 100,000.00 0.00 100,000.00 0.00 0.00

PAYDOWNS
12/25/24 FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
12/01/24 3136BQDE6 21.37 21.37 0.00 21.37 0.36 0.27
12/25/24 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
12/01/24 3137HAMR4 14,502.75 14,502.75 0.00 14,502.75 227.59 177.23 12/25/24 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
12/01/24 3137HAMN3 5,510.07 5,510.07 0.00 5,510.07 0.03 0.02 12/25/24 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
12/01/24 3137HAD45 2,310.80 2,310.80 0.00 2,310.80 0.06 0.05 12/25/24 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
12/01/24 3137BTUM1 5,053.53 5,053.53 0.00 5,053.53 155.56 88.08 12/25/24 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
12/01/24 3137HAMG8 1,735.16 1,735.16 0.00 1,735.16 25.95 19.84 12/15/24 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
12/15/24 44935FAD6 19,729.65 19,729.65 0.00 19,729.65 4.40 1.39 PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 29 U.S. Bancorp Asset Management, Inc.
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Managed Account Security Transactions & Interest For the Month Ending December 31, 2024 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
12/15/24 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
12/15/24 89239BAC5 35,585.58 35,585.58 0.00 35,585.58 2.83 0.71 Transaction Type Sub-Total 84,448.91 84,448.91 0.00 84,448.91 416.78 287.59 SELL
12/06/24 US TREASURY N/B
DTD 09/30/2020 0.250% 09/30/2025
12/05/24 91282CAM3 4,550,000.00 4,402,125.00 2,093.75 4,404,218.75 (71,449.22) (132,507.33) FIFO 12/06/24 US TREASURY N/B
DTD 09/30/2020 0.250% 09/30/2025
12/05/24 91282CAM3 1,100,000.00 1,064,250.00 506.18 1,064,756.18 (11,773.44) (30,866.19) FIFO Transaction Type Sub-Total 5,650,000.00 5,466,375.00 2,599.93 5,468,974.93 (83,222.66) (163,373.52) Managed Account Sub-Total (675,523.36) 744,985.01 69,461.65 (82,805.88) (163,085.93) Total Security Transactions ($675,523.36) $744,985.01 $69,461.65 ($82,805.88) ($163,085.93) PFM Asset Management, a division of CITY OF MODESTO - COMBINED PORTFOLIO Page 30 U.S. Bancorp Asset Management, Inc.
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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
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% 7/31/2023 2.94% 48,186,346.94 5.31% 360,659,807.46 2.35% 41,419,189.81 5.28% 8/31/2023 3.14% 48,412,208.12 5.52% 392,278,686.76 2.60% 41,598,139.19 5.44% 9/30/2023 3.36% 48,632,969.13 5.55% 392,056,693.34 2.85% 41,767,569.64 5.55% 10/31/2023 3.40% 48,862,493.00 5.56% 393,319,562.86 2.89% 41,829,190.02 5.63% 11/30/2023 3.46% 49,086,612.73 5.58% 396,095,890.19 2.97% 41,987,235.92 5.60% 12/31/2023 3.51% 49,318,080.86 5.55% 393,872,751.60 3.03% 42,137,084.04 5.60% 1/31/2024 3.54% 49,549,288.20 5.54% 395,563,681.33 3.07% 42,286,932.15 5.60% 2/29/2024 3.57% 49,765,331.51 5.50% 400,022,027.47 3.13% 42,269,831.92 5.45% 3/31/2024 3.59% 49,996,308.29 5.48% 397,576,602.33 3.16% 42,372,823.25 5.35% 4/30/2024 3.61% 50,219,345.80 5.44% 398,650,446.11 3.19% 42,473,217.00 5.35% 5/31/2024 3.68% 50,450,429.25 5.43% 399,100,250.21 3.29% 42,706,970.79 5.27% 6/30/2024 3.76% 50,674,988.39 5.43% 399,326,031.56 3.39% 42,808,365.69 5.27% 7/31/2024 3.79% 50,908,210.76 5.43% 400,074,642.53 3.44% 43,066,591.51 5.14% 8/31/2024 3.65% 36,112,852.04 5.41% 400,899,946.42 3.34% 43,149,544.75 5.10% 9/30/2024 3.73% 21,244,197.28 5.29% 401,135,133.05 3.54% 43,205,826.11 4.78% 10/31/2024 3.80% 35,394,422.01 5.03% 403,285,397.15 3.62% 32,709,563.98 4.65% 11/30/2024 3.83% 36,072,860.08 4.87% 404,702,479.08 3.67% 32,740,820.12 4.65% 12/31/2024 3.84% 28,695,113.02 4.73% 405,389,405.62 3.71% 32,773,649.87 4.65% 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. #12..
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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, 2025
Expected
Earnings to
June 30, 2025
Main Portfolio
Federal Agency
FNMA 2,215,000 11/7/2025 4.385% 1 10,812 0.57% 6,293
FNMA 2,040,000 11/7/2025 4.385% 1 8,825 0.51% 5,136
Federal Agency CMBS
FNMA 2,413,196 11/1/2026 4.650% 2 190,070 4.29% 51,347
FHLMC 4,000,000 3/1/2027 4.540% 2 427,544 4.94% 97,956
FHLMC 2,275,000 4/1/2027 4.560% 2 252,523 4.93% 55,672
FHLMC 3,530,000 6/1/2027 4.560% 2 423,704 4.97% 86,950
FHLMC 3,523,601 4/1/2028 4.650% 3 594,845 5.19% 90,705
FHLMC 1,876,272 5/1/2028 4.590% 3 313,217 5.01% 46,584
FHLMC 3,500,000 6/1/2028 4.670% 3 549,626 4.59% 79,713
FHLMC 2,785,979 6/1/2028 4.800% 3 455,093 4.78% 66,003
FHLMC 3,344,390 7/1/2028 4.740% 4 535,812 4.58% 75,886
FHLMC 3,800,000 8/1/2028 4.650% 4 679,612 4.99% 93,972
FHLMC 2,027,010 8/1/2028 4.820% 4 383,246 5.27% 52,993
FHLMC 3,850,000 8/1/2028 4.680% 4 725,116 5.25% 100,264 FHLMC 3,800,000 9/1/2028 4.670% 4 707,955 5.07% 95,627
FHLMC 2,890,000 9/1/2028 4.670% 4 594,630 5.60% 80,319
FHLMC 1,465,000 10/1/2028 4.680% 4 282,373 5.14% 37,306 FHLMC 2,125,000 10/1/2028 4.700% 4 392,899 4.93% 51,909 FHLMC 1,935,000 11/1/2028 4.680% 4 355,571 4.79% 45,937 FHLMC 2,190,000 12/1/2028 4.700% 4 386,241 4.50% 48,854 FHLMC 2,220,000 12/1/2028 4.710% 4 378,163 4.34% 47,832 FHLMC 3,750,000 1/1/2029 4.740% 4 718,974 4.79% 89,011
FHLMC 3,750,000 1/1/2029 4.680% 4 719,319 4.79% 89,054
FHLMC 3,355,000 1/1/2029 4.690% 4 627,129 4.67% 77,640
FHLMC 2,715,000 1/1/2029 4.680% 4 525,354 4.83% 65,040
FHLMC 2,125,000 3/1/2029 4.720% 4 450,293 5.09% 53,585
FHLMC 3,850,000 5/1/2029 4.730% 4 801,469 4.80% 91,698
FHLMC 3,245,000 5/1/2029 4.720% 4 643,640 4.58% 73,640
FHLMC 3,500,000 7/1/2029 4.740% 5 682,655 4.33% 75,204
FHLMC 3,980,000 9/1/2029 4.730% 5 868,168 4.67% 92,163
U.S. Treasury
U.S. Treasury 11,015,000 5/15/2025 5.015% 0 209,728 4.91% 268,235 U.S. Treasury 10,805,000 7/31/2025 4.367% 1 301,652 4.81% 257,542 U.S. Treasury 11,115,000 9/15/2025 4.434% 1 313,959 4.00% 220,258 U.S. Treasury 5,010,000 10/31/2025 4.444% 1 32,251 0.77% 19,202 U.S. Treasury 6,930,000 10/31/2025 4.444% 1 45,003 0.78% 26,795 U.S. Treasury 4,250,000 11/30/2025 4.334% 1 41,422 1.07% 22,447 U.S. Treasury 4,635,000 11/30/2025 4.334% 1 116,790 2.75% 63,290 U.S. Treasury 1,040,000 12/31/2025 4.220% 1 4,717 0.45% 2,339 U.S. Treasury 500,000 12/31/2025 4.220% 1 2,161 0.43% 1,072 U.S. Treasury 3,735,000 12/31/2025 4.220% 1 33,156 0.89% 16,442 U.S. Treasury 2,400,000 1/31/2026 4.280% 1 20,945 0.80% 9,573 U.S. Treasury 5,775,000 1/31/2026 4.280% 1 79,722 1.27% 36,439 U.S. Treasury 5,000,000 1/31/2026 4.280% 1 100,579 1.85% 45,972 U.S. Treasury 7,980,000 1/31/2026 4.280% 1 255,395 2.95% 116,734 U.S. Treasury 3,210,000 2/28/2026 4.260% 1 26,188 0.70% 11,179 U.S. Treasury 6,000,000 2/28/2026 4.250% 1 80,481 1.15% 34,356 U.S. Treasury 4,645,000 2/28/2026 4.250% 1 148,817 2.76% 63,528 U.S. Treasury 4,925,000 3/31/2026 4.270% 1 53,382 0.87% 21,235 U.S. Treasury 2,480,000 3/31/2026 4.270% 1 23,455 0.76% 9,331 U.S. Treasury 1,405,000 5/31/2026 4.260% 1 17,247 0.87% 6,050 U.S. Treasury 4,615,000 5/31/2026 4.260% 1 180,134 2.76% 63,186 U.S. Treasury 4,800,000 5/31/2026 4.260% 1 203,057 2.99% 71,227 U.S. Treasury 4,640,000 8/31/2026 4.270% 2 212,558 2.75% 63,278 U.S. Treasury 4,310,000 9/30/2026 4.270% 2 208,524 2.77% 59,158 U.S. Treasury 4,545,000 11/15/2026 4.270% 2 256,266 3.01% 67,813 U.S. Treasury 9,220,000 2/15/2027 4.270% 2 559,146 2.85% 130,419 U.S. Treasury 910,000 3/31/2027 4.250% 2 82,481 4.03% 18,206 U.S. Treasury 6,480,000 4/30/2027 4.280% 2 440,338 2.92% 93,766 U.S. Treasury 5,545,000 6/30/2027 4.270% 2 414,153 2.99% 82,285 U.S. Treasury 1,200,000 8/15/2027 4.350% 3 103,938 3.30% 19,658 U.S. Treasury 2,985,000 8/15/2027 4.350% 3 266,114 3.40% 50,331 U.S. Treasury 5,380,000 9/30/2027 4.280% 3 631,718 4.27% 113,999 U.S. Treasury 8,775,000 10/31/2027 4.370% 3 972,241 3.91% 170,189 U.S. Treasury 2,715,000 10/31/2027 4.280% 3 293,045 3.81% 51,297 U.S. Treasury 3,160,000 10/31/2027 4.280% 3 324,792 3.63% 56,854 U.S. Treasury 4,250,000 12/31/2027 4.290% 3 481,784 3.78% 79,637 U.S. Treasury 3,450,000 1/31/2028 4.310% 3 389,747 3.66% 62,650 U.S. Treasury 2,220,000 1/31/2028 4.300% 3 240,884 3.52% 38,721 U.S. Treasury 1,120,000 2/29/2028 4.310% 3 152,195 4.29% 23,850 U.S. Treasury 2,825,000 2/29/2028 4.310% 3 379,861 4.25% 59,528 U.S. Treasury 2,555,000 3/31/2028 4.400% 3 289,864 3.49% 44,237 U.S. Treasury 2,675,000 3/31/2028 4.310% 3 317,090 3.65% 48,392 U.S. Treasury 2,810,000 4/30/2028 4.320% 3 337,240 3.60% 50,198 U.S. Treasury 6,530,000 4/30/2028 4.320% 3 739,552 3.40% 110,081 U.S. Treasury 3,450,000 3/31/2029 4.360% 4 641,322 4.37% 74,842 U.S. Treasury 5,190,000 4/30/2029 4.370% 4 1,027,967 4.57% 117,686 U.S. Treasury 4,430,000 4/30/2029 4.370% 4 738,664 3.85% 84,566 U.S. Treasury 4,190,000 5/31/2029 4.450% 4 798,171 4.31% 89,621 U.S. Treasury 1,430,000 5/31/2029 4.450% 4 271,295 4.30% 30,462 U.S. Treasury 2,920,000 6/30/2029 4.370% 4 581,623 4.43% 64,113 U.S. Treasury 2,105,000 7/31/2029 4.370% 5 371,039 3.85% 40,142 Earnings to
Maturity
December 31, 2024
#12..
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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, 2025
Expected
Earnings to
June 30, 2025
Earnings to
Maturity
December 31, 2024
U.S. Treasury 7,550,000 8/31/2029 4.370% 5 1,261,530 3.58% 134,001 U.S. Treasury 8,695,000 9/30/2029 4.370% 5 1,471,693 3.56% 153,620 U.S. Treasury 4,850,000 10/31/2029 4.370% 5 980,325 4.18% 100,532 U.S. Treasury 6,315,000 11/30/2029 4.370% 5 1,268,512 4.08% 127,911 Negotiable CD
Rabobank Nederland 3,500,000 7/17/2026 3.770% 2 274,250 5.08% 88,169 Corporate Note
Adobe 2,230,000 11/13/2025 4.500% 1 18,399 0.95% 10,505 Adobe 3,465,000 1/28/2026 4.560% 1 27,795 0.75% 12,801
Apple Inc 2,025,000 4/2/2026 5.650% 1 85,798 3.38% 33,981 Bank Of America Co 5,635,000 8/7/2026 4.680% 2 499,225 5.54% 154,726 The Bank Of New York Mellon Corporation 3,000,000 8/8/2026 4.380% 2 102,814 2.14% 31,811 Bank Of America Co 3,750,000 8/18/2026 4.660% 2 337,982 5.53% 102,815 Blackrock Inc. 2,560,000 11/21/2026 4.500% 2 209,490 4.33% 54,953 Bristol-Myers Squibb Co 3,500,000 12/8/2026 4.550% 2 346,430 5.11% 88,690 Citigroup Inc 850,000 12/8/2026 4.550% 2 84,770 5.15% 21,702 Deere & Company 365,000 1/15/2027 4.450% 2 14,796 1.99% 3,595 Deere & Company 3,000,000 2/6/2027 4.360% 2 255,751 4.06% 60,353 Deere & Company 3,610,000 9/14/2027 4.470% 3 405,887 4.16% 74,433 Home Depot Inc 1,535,000 2/24/2028 5.090% 3 248,126 5.13% 39,053 JPMorgan Chase & Co 1,220,000 4/15/2028 4.480% 3 158,557 3.95% 23,896 JPMorgan Chase & Co 5,200,000 5/10/2028 4.430% 3 686,338 3.93% 101,327 JPMorgan Chase & Co 1,360,000 5/26/2028 5.010% 3 254,710 5.50% 37,120 Eli Lilly & Co 2,640,000 5/26/2028 5.010% 3 489,478 5.45% 71,333 Eli Lilly & Co 1,165,000 7/14/2028 4.640% 4 205,370 4.98% 28,793 Mastercard Inc 495,000 7/14/2028 4.640% 4 81,273 4.64% 11,395 Microsoft Corp 895,000 7/14/2028 4.640% 4 149,701 4.73% 20,988 Microsoft Corp 1,130,000 8/10/2028 4.710% 4 207,851 5.09% 28,544 Morgan Stanley 2,800,000 9/11/2028 4.900% 4 547,841 5.29% 73,451 Morgan Stanley 5,650,000 9/29/2028 4.870% 4 1,228,837 5.80% 162,587 Paccar Financial Corp 1,900,000 2/20/2029 5.030% 4 356,542 4.53% 42,681 Pepsico Inc 365,000 3/14/2029 4.640% 4 72,727 4.74% 8,581 State Street Corporation 1,580,000 4/4/2029 4.650% 4 325,381 4.83% 37,874 Target Corp 1,295,000 4/4/2029 4.650% 4 263,158 4.77% 30,631 Toyota Motor Corp 1,935,000 7/17/2029 4.520% 5 398,843 4.53% 43,515 Wal-Mart Stores Inc 660,000 8/14/2029 4.650% 5 129,614 4.25% 13,906 Wells Fargo & Company 2,290,000 8/14/2029 4.650% 5 441,075 4.17% 47,323 Asset-Backed Securities
American Express Co 68,337 1/15/2026 4.480% 1 307 0.43% 146 Bank Of America Co 48,590 5/15/2026 4.350% 1 496 0.75% 180 Bank of America Auto Trust 835,000 12/8/2027 4.490% 3 128,348 5.23% 21,671 Bank of America Auto Trust 890,000 1/18/2028 4.560% 3 143,464 5.29% 23,331 Chase Issurance 1,465,000 2/15/2028 4.610% 3 253,299 5.53% 40,182 Chase Issurance 2,220,000 2/18/2028 4.480% 3 376,791 5.42% 59,615 Citigroup Inc 690,000 4/17/2028 4.510% 3 117,470 5.17% 17,674 Fifth Third Auto Trust 3,015,000 5/15/2028 4.640% 3 567,824 5.58% 83,490 Gm Financial Securitized Term 2,925,000 6/15/2028 4.640% 3 580,543 5.74% 83,263 Honda Auto Receivables 2,425,000 8/15/2028 4.620% 4 486,199 5.53% 66,517 Hyundai Auto Receivables 765,000 8/15/2028 4.560% 4 153,686 5.54% 21,026 Hyundai Auto Receivables 3,090,000 9/15/2028 4.480% 4 599,610 5.23% 80,155 Kubota Credit Owners Trust 3,020,000 9/15/2028 4.480% 4 578,778 5.17% 77,370 Toyota Motor Corp 1,130,000 10/16/2028 4.560% 4 237,673 5.54% 31,061 Toyota Motor Corp 1,365,000 11/15/2028 4.470% 4 263,686 4.98% 33,729 Toyota Motor Corp 365,000 12/18/2028 4.530% 4 70,293 4.85% 8,787 USAA Owners Trust 3,390,000 1/16/2029 4.500% 4 631,489 4.60% 77,386 Municipal Securities
Florida State Board of Administration Finance 510,000 5/15/2025 4.440% 0 1,666 1.73% 4,375 Florida State Board of Administration Finance 220,000 5/15/2025 4.440% 0 656 1.67% 1,825 New Jersey Turnpike Authority 505,000 7/1/2025 4.730% 0 2,785 1.11% 2,770 University Of California 1,295,000 7/1/2025 4.730% 0 8,124 1.26% 8,079 University Of California 505,000 1/1/2026 4.440% 1 5,302 1.05% 2,622 Overnight Investments 28,695,113 Varies Varies 4.14% 589,251 Totals (Main Portfolio) 470,812,488 48,598,091 3.78% 8,818,809 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. #12..
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Attachment 5
Issue Name / Type Trustee Bank Investment Total Amount
Instl Res Tre and Agny Cash Adv6541 $231,968.97
Financial Guaranty Insurance Pol $1.00
CAMP $2,164,523.24
Total $2,396,493.21
Instl Res Tre and Agny Cash Adv6541 $281,337.82
Letter of Credit $1.00
CAMP $5,354,768.04
Cash $59,499.92
Total $5,695,606.78
2018 Wastewater Refunding Bank of New York Fidelity Inv MM Trsy Only $2,299.36 Fairview Village Refunding US Bank First American Treasury Obligation Fund $204,621.21 Blackrock Federal Fund Instl 30 $4,424.33
CAMP $3,065,762.21
Total $3,070,186.54
Other Post Employment Benefits Section 115
Trust PARS HighMark Plus Moderate $1,708,031.73
Pension Section 115 Trust PARS HighMark Plus Moderately Conservative $2,971,882.32 Athens Administrators (New Third Party
Administrator - Worker's Compensation) Wells Fargo Bank $445,773.05 George Hills Company - General Liability Claims
Administration Services California Bank & Trust $1,571.30 Kemper Sports Management Inc. BMO Harris Bank Business Money Market $28,178.88 Stanislaus Community Foundation Modesto Commerce Bank Charles Schwab $792,651.86 Cash with Fiscal Agent Investments
As of December 31, 2024
2008 Water Refunding COP Bank of New York
Village One #2 Refunding Bank of New York
2008 Lease Revenue Bonds Bank of New York
#12..
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CITY OF MODESTO

COUNCIL AGENDA REPORT
DATE OF MEETING:

February 25, 2025
Date: January 21, 2025
TO: Mayor and City Council
THROUGH: Joseph P. Lopez, City Manager
FROM: DeAnna Christensen, Director of Finance
SUBJECT: November and December 2024 Grant Application and Awards CONTACT: Maria Garnica, Accounting Manager, [email protected] 209-577-5249
DESCRIPTION:

Consider accepting an Informational Report on the November and December 2024 Grant Applications and Awards. (Funding Source: Not Applicable) 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 Finance Department coordinated with California Consulting to update the Administrative Directive 7.2, “Grant Management.” The revised directive was updated on July 26, 2023, to streamline the grant management process and to establish better controls on local match requirements, including potential future costs which could be required as part of a grant agreement.

This directive has eliminated the requirement to go to Council for the application and acceptance of grant awards if the grant does not require local match contributions exceeding $100,000. Grant applications and awards that require a local match contribution which exceeds $100,000 must be approved by City Council after the Director of Finance and City Manager’s approval. City Manager is authorized to approve all grant applications and awards which exceed $25,000 and those which require local match contribution under $100,000. The Director of Finance is authorized to approve grant applications and awards under $25,000 with no local funding requirements. All grant applications and awards require the approval of the Director of Finance. Departments may be required to obtain Council’s approval for grant applications and awards with no local match at the discretion of the City Manager.

Due to the need for quick turnaround on grant application and award acceptance required by the granting agencies, this directive allows for City departments to apply for more grants within the grant application periods and provide quick response to award acceptance deadlines. #13..
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City Council, February 25, 2025
November and December 2024 Grant Application and Awards

Page 2 of 3 ends

Modesto City CouncilFebruary 25, 2025

Modesto City Council
February 25, 2025