Agenda packet, joint meeting, second session — Oakley City Council, February 13, 2024 (part 2 of 2)

5/25/2023
155

STAFF REPORT

City of Oakley | 3231 Main Street, Oakley, CA 94561
O (925) 625-7000 | F (925) 625-9859 | www.ci.oakley.ca.us DATE: February 13, 2024
TO: Joshua McMurray, City Manager
FROM: Kevin Rohani, P.E., Public Works Director/City Engineer SUBJECT: Creating Zone 191 within the Oakley Special Police Tax Area consisting of the Villa Grove project (Subdivision 8807) located on the south side of Carpenter Road and east of O’Hara Avenue (APN 034-110-008-9) Background and Analysis
On March 26, 2007, the City Council approved a vesting tentative map with certain Conditions of Approval for the proposed Villa Grove project (Subdivision 8807) (the “Project”). The Project is designated as Single-Family Low (SL) in the Oakley 2020 General Plan and zoned R-10 (Single Family Residential) on the City of Oakley Zoning Map. The Project is currently comprised of APN 034-110-008-9, which is expected to be subdivided into 35 single-family residential parcels at build-out.

The Conditions of Approval for the Project require the Developer to mitigate the financial impact their project has on the City’s police services budget. The City of Oakley previously formed the Oakley Special Police Tax Area that authorizes the levy of an annual special tax on parcels to mitigate their financial impact to the City’s police services budget. The property owner for the Project has requested the City assist with annexing the Project into the Oakley Special Police Tax Area to satisfy their Conditions of Approval.

Beginning May 2016, the City established its own police department and no longer contracts with the Sheriff’s office to provide public safety. In order to ensure that revenue grows at a rate sufficient to cover the cost of providing police services, City Council approved Resolution No. 113-16 on July 12, 2016, that allows for an adjustment in the annual tax per parcel by the increase in the Consumer Price Index for all Urban Consumers for the San Francisco-Oakland-Bay Area to become effective July 1, 2016.

Adoption of the attached resolution and introduction of the attached ordinance will set an election date for March 21, 2024, which shall be conducted by the City Clerk via a mail ballot election. The vote will then be ratified at the March 26, 2024, regular City Council meeting, and the ordinance will take effect at that time assuming a favorable vote.

Consistency with the Oakley Strategic Plan 27+
This item is consistent with the Strategic Plan 27+ Park and Open Space and Finance and Fiscal Responsibility section goals.

Approved and
Forwarded to the
City Council
156

STAFF REPORT
CITY HALL | 3231 Main Street, Oakley, CA 94561 2
O (925) 625-7000 | F (925) 625-9859 | www.CI.Oakley.CA.US Fiscal Impact
There will be no financial impact to the City's General Fund. The applicant has funded all costs associated with the annexation of Zone 191 to the Oakley Special Police Tax Area. The FY 2023-24 special tax rate for single family parcels is $1,282.30/parcel (FY 2023-24 rates). The project is anticipated to consist of 35 single-family parcels at build-out. Therefore, successful creation of the Zone is expected to provide up to $44,880.50 (in FY 2023-24 dollars) in revenue annually at build-out. The taxes can be collected on the property tax rolls commencing in FY 2024-25.

Staff Recommendation
The Conditions of Approval for the Villa Grove project located on the south side of Carpenter Road and east of O’Hara Avenue (APN 034-110-008-9) require the property owner to mitigate their financial impact on the police services budget. Adoption of this resolution and ordinance will set an election to be held on March 18, 2024. The election will then be ratified at the March 26, 2024, regular City Council meeting. Staff recommends that the City Council:

1. Adopt the Resolution creating Zone 191 within the Oakley Special Police Tax Area consisting of the Villa Grove project located on the south side of Carpenter Road and east of O’Hara Avenue (APN 034-110-008-9); and

2. Introduce the Ordinance Establishing a Special Tax for Police Protection.

Attachments

1. Resolution Creating Oakley Special Police Tax Zone 191

1. Exhibit A - Diagram

2. Ordinance Establishing a Special Tax

1. Exhibit A – Diagram

2. Exhibit B – Schedule for Police Service Tax
157

CITY OF OAKLEY
RESOLUTION NO. ___-24
A RESOLUTION CREATING OAKLEY SPECIAL POLICE TAX AREA ZONE 191

WITHIN THE OAKLEY SPECIAL POLICE TAX AREA FOR THE VILLA GROVE PROJECT (SUBDIVISION 8807) LOCATED ON THE SOUTH SIDE OF CARPENTER ROAD AND EAST OF O’HARA AVENUE (APN 034-110-008-9) WHEREAS, it is the intention of the City Council to create Oakley Special Police Tax Area Zone 191 (Zone 191) within the Oakley Special Police Tax Area and authorize an election; and
WHEREAS, it is the intention of the City Council to adopt an ordinance establishing a special tax for police services within Zone 191; and
WHEREAS, the City recognizes the need for increased police protection services within Zone 191 and the difficulty of funding the current or increased level of police services with revenues now available; and
WHEREAS, it is the intention of the City Council to direct the City Clerk to conduct the election required by Government Code Section 53978, to be conducted by mail ballot pursuant to Elections Code Section 4108 and to be held on the earliest date permitted by law; and
WHEREAS, the property located on the south side of Carpenter Road and east of O’Hara Avenue known as Villa Grove (the “Project”) is designated as Single-Family Low (SL) in the Oakley 2020 General Plan and zoned R-10 (Single-Family Residential) on the City of Oakley Zoning Map. The Project is currently comprised of APN 034-110-008- 9, which is expected to be subdivided into 35 single-family residential parcels at buildout. The Conditions of Approval for the Project require the Developer to mitigate the financial impact that their project has on the City’s police services budget. The City of Oakley previously formed the Oakley Special Police Tax Area that authorizes the levy of an annual special tax on parcels to mitigate their financial impact to the City’s police services budget. The property owner for the Project has requested the City assist with annexing the Project into the Oakley Special Police Tax Area to satisfy their Conditions of Approval. The initial annual special tax rate for single family parcels is $1,282.30/parcel (FY 2023-24 rates) per the rate schedule that was adopted by the City Council on July 12, 2016, by Resolution No. 113-16; and WHEREAS, this Resolution is adopted pursuant to Government Code section 53978; and
WHEREAS, under Government Code section 53978 and for the purposes of this Resolution, a "voter" entitled to vote on the creation of Zone 191 is a person who owns real property within Zone 191 at the time Ordinance No. __-24 is adopted, as shown on 158
the last equalized assessment roll prepared by the Contra Costa County Assessor's Office.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Oakley hereby finds and determines as follows:

1. All of the City of Oakley shall be considered as the Oakley Special Police Tax Area.

2. That portion of the City of Oakley shown on the plats titled Exhibit "A" is established as Zone 191 of the Oakley Special Police Tax Area.

3. That Ordinance No. __-24 introduced this date is to be presented for approval of the voters of Zone 191 by a mail ballot election, to be held on March 18, 2024. The ballot proposition shall read as follows:
"Shall Ordinance No. __-24 of the City Council of the City of Oakley be approved so as to authorize a special tax on property located in Zone 191 of the Oakley Special Police Tax Area to maintain the present level of police protection service and provide additional funding for increased police protection service? The initial annual special tax rate for County use code 11 (Single Family Residence – 1 res., 1 site) is $1,282.30 per parcel and $641.15 per vacant parcel per the current FY 2023-24 rate schedule."

4. The City Clerk is directed to take all steps necessary to conduct the election required by this order. Said election shall be conducted by mailed ballot pursuant to Elections Code Section 4000 and shall be held on a date other than the same date as a statewide direct primary election or statewide general election as specified above.

5. Zone 191 of the Oakley Special Police Tax Area shall not be created, and the tax authorized in Ordinance No. __-24 shall not be imposed if the Ordinance is not approved by two-thirds of the voters participating in the election called in Ordinance No. __-24.

PASSED AND ADOPTED by the City Council of the City of Oakley at a meeting held on February 13, 2024 by the following vote:

AYES:

NOES:

ABSTENTION:

ABSENT:
159
APPROVED:
___________________
Anissa Williams, Mayor
ATTEST:
____________________ ___________________
Libby Vreonis, City Clerk Date
160
Carpenter Rd
R
o
s
e
Av
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APN
034-110-008-9

EXHIBIT A - BOUNDARY MAP
CITY OF OAKLEY SPECIAL POLICE TAX AREA (P-6) ZONE 191

CITY OF OAKLEY

COUNTY OF CONTRA COSTA, STATE OF CALIFORNIA
SHEET 1 OF 1
0 ±
500
Feet
VILLA GROVE (SUBDIVISION 8807)
Legend
Zone 191 Boundary
Parcel Lines
161

CITY OF OAKLEY
ORDINANCE NO. __-24

AN ORDINANCE OF THE CITY OF OAKLEY ESTABLISHING OAKLEY SPECIAL POLICE TAX AREA ZONE 191 WITHIN THE OAKLEY SPECIAL POLICE TAX

AREA FOR A SPECIAL TAX FOR POLICE PROTECTION SERVICES FOR THE VILLA GROVE PROJECT (SUBDIVISION 8807) LOCATED ON THE SOUTH SIDE OF CARPENTER ROAD AND EAST OF O’HARA AVENUE (APN 034-110-008-9) The Voters of the City of Oakley do ordain as follows:

Section 1. Purpose, Intent and Authority.

It is the purpose and intent of this Ordinance to authorize the levy of a special tax on real property that is within Oakley Special Police Tax Area Zone 191 of the Oakley Special Police Tax Area as shown on the Exhibit A map attached hereto in order to provide funding for police protection to serve the property and persons within said Zone.

This Tax is a special tax within the meaning of Section 4 of Article XIIlA of the California Constitution. Because the burden of this tax falls upon property, this tax also is a property tax, but this tax is not determined according to nor in any manner based upon the value of property; this tax is levied on a parcel and use of property basis.

Insofar as not inconsistent with this Ordinance or with legislation authorizing special taxes and insofar as applicable to a property tax that is not based on value, such provisions of the California Revenue and Taxation Code and of Article XIII of the California Constitution as relate to ad valorem property taxes are intended to apply to the collection and administration of this tax (Section 4 of this Ordinance), as authorized by law.

The revenues raised by this tax are to be used solely for the purposes of obtaining, furnishing, operating, and maintaining police protection equipment or apparatus, for paying the salaries and benefits of police protection personnel, and for such other police protection service expenses as are deemed necessary for the benefit of the residents of Zone 191.

This Ordinance is enacted pursuant to the authority of Government Code Section 53978.

Section 2. Definitions.

The following definitions shall apply throughout this Ordinance.

A. "Constant first year dollars" shall mean an actual dollar amount which, in years subsequent to the first fiscal year the tax is levied, shall have the same purchasing price 162
as the base amount in first fiscal year dollars as measured by the actual cost of services for the City of Oakley's cost of obtaining police services. The base amount shall be the amount of tax per parcel as specified in Section 3.A herein. The adjustments from actual to constant dollars shall be made by use of the actual cost of services, as specified in Section 3.B herein.

B. "Fiscal year" means the period of July 1 through the following June 30.

C. "Oakley Special Police Tax Area" includes all properties within the jurisdictional limits of the City of Oakley.

D. Oakley Special Police Tax Area Zone 191 (hereinafter called "Zone") means that portion of the incorporated area of the City of Oakley located within the boundaries as shown on the map Exhibit A hereto.

E. "Parcel" means the land and any improvements thereon, designated by an assessor's parcel map and parcel number and carried on the secured property tax roll of Contra Costa County. For the purposes of this Ordinance, parcel does not include any land or improvements outside the boundaries of Zone 191, nor any land or improvements owned by any governmental entity.

F. Pursuant to Government Code §53978, "voter" means a person owning real property within the Zone at the time this Ordinance was adopted, as shown on the last equalized assessment role prepared by the Contra Costa County Assessor's Office.

Section 3. Amount and Level of Taxes.

The tax per year on each parcel in the Zone shall not exceed the amount applicable to the parcel, as specified below.

A. For First Fiscal Year:

The tax per year for the first fiscal year (July 1, 2023 through June 30, 2024) shall be the amount of Tax Per Parcel for a Property Use Code Category as set forth on Exhibit B hereto. If any new development, including new residential units, is completed prior to the tax being effective for the first fiscal year, the owner of the Parcel, as shown on the latest assessment roll, shall pay the tax for the remainder of such fiscal year on a pro-rated basis to the City, no later than receipt of Certificate of Occupancy or final building permit inspection.
163
B. For Subsequent Fiscal Year:

The tax rates shown in Exhibit B shall be automatically adjusted on July 1 of each year, beginning on July 1, 2024, by the increase in the Consumer Price Index for all Urban Consumers for the San Francisco-Oakland Bay Area and applying that rate to the prior year amounts for each property use code category. However, the City Council reserves the right to itself the opportunity to adjust the rate in the following year if the CPI adjustment is insufficient to reimburse the City for the costs of providing levels of police services as approved by the City Council.

In no event shall the tax per parcel for any fiscal year be less than the amount established for the previous fiscal year.

C. The taxes levied on each parcel pursuant to this Article shall be a charge upon the parcel and shall be due and collectible as set forth in Section 4, below.

Section 4. Collection and Administration.

A. Taxes as Liens Against the Property.

The amount of taxes for each parcel each year shall constitute a lien on such property, in accordance with Revenue and Taxation Code Section 2187, and shall have the same effect as an ad valorem real property tax lien until fully paid.

B. Collection.

The taxes on each parcel shall be billed on the secured roll tax bills for ad valorem property taxes and are to be collected in the same manner in which the County of Contra Costa collects secured roll ad valorem property taxes. Insofar as feasible and insofar as not inconsistent with this Ordinance, the times and procedure regarding exceptions, due dates, installment payments, corrections, cancellations, refunds, late payments, penalties, liens, and collections for secured roll ad valorem property taxes shall be applicable to the collection of this tax. Notwithstanding anything to the contrary in the foregoing, as to this tax:
i) The secured roll tax bills shall be the only notices required for this tax, and ii) The homeowners and veterans exemptions shall not be applicable because such exemptions are determined by dollar amount of value.

C. Costs of Administration by County.

The reasonable costs incurred by the County officers collecting and administering this tax shall be deducted from the collected taxes. 164
Section 5. Severability Clause.

If any article, section, subsection, sentence, phrase or clause of this Ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portion of this Ordinance. The voters of the Zone hereby declare that they would have adopted the remainder of this Ordinance, including each article, section, subsection, sentenced phrase or clause, irrespective of the invalidity of any other article, section, subsection, sentence, phrase or clause.

Section 6. Effective Date and Posting.

This Ordinance shall take effect immediately upon its confirmation by two-thirds of the voters voting within the Zone in an election to be held on March 18, 2024, so that taxes shall first be collected hereunder for the tax year beginning July 1, 2024. If not confirmed by two-thirds of the voters participating in the election, this Ordinance and the tax approved herein shall not become effective.

The foregoing ordinance was adopted with the reading waived at a regular meeting of the Oakley City Council on March 26, 2024, by the following vote:

AYES:

NOES:

ABSTENTION:

ABSENT:

APPROVED:
___________________
Anissa Williams, Mayor
ATTEST:
____________________ ___________________
Libby Vreonis, City Clerk Date
165
Carpenter Rd
R
o
s
e
Av
e
APN
034-110-008-9

EXHIBIT A - BOUNDARY MAP
CITY OF OAKLEY SPECIAL POLICE TAX AREA (P-6) ZONE 191

CITY OF OAKLEY

COUNTY OF CONTRA COSTA, STATE OF CALIFORNIA
SHEET 1 OF 1
0 ±
500
Feet
VILLA GROVE (SUBDIVISION 8807)
Legend
Zone 191 Boundary
Parcel Lines
166

PROPERTY USE

CODE CATEGORY DESCRIPTION
FY22/23 TAX

PER PARCEL
FY23/24 TAX

PER PARCEL
11 Single Family Residence – 1res., 1 site $1,230.73 $1,282.30 12 Single Family Residence – 1 res., 2 or more sites $1,230.73 $1,282.30 13 Single Family Residence – 2 res., on 1 or more sites $1,969.17 $2,051.68 14 Single Family Residence – other than single fam. Land $1,230.73 $1,282.30 15 Misc. Improvements – 1 site $1,230.73 $1,282.30
16 Misc. Improvements – 2 or more sites $1,230.73 $1,282.30 17 Vacant – 1 site $615.37 $641.15
18 Vacant – 2 or more sites $615.37 $641.15
19 Single Family Residence – Det. W/common area $1,230.73 $1,282.30 20 Vacant – Multiple $615.37 $641.15
21 Duplex $1,969.17 $2,051.68
22 Triplex $2,953.75 $3,077.52
23 Fourplex $3,938.34 $4,103.36
24 Combinations $1,230.73 $1,282.30
25 Apartments (5 –12 Units) $4,922.92 $5,129.20
26 Apartments (13 – 24 Units) $12,799.59 $13,335.92
27 Apartments (25 – 59 Units) $24,614.60 $25,646.00
28 Apartments (60+ units) $59,075.04 $61,550.40
29 Attached PUDs: Cluster Homes, Condos, etc. $1,230.73 $1,282.30 30 Vacant – Commercial $615.37 $641.15
31 Commercial Stores – Not Supermarkets $2,461.46 $2,564.60 32 Small Grocery Stores – (7-11, etc.) $3,692.19 $3,846.90 33 Office Buildings $2,461.46 $2,564.60
34 Medical, Dental $2,461.46 $2,564.60
35 Service Stations, Car Wash $2,461.46 $2,564.60
36 Garages $2,461.46 $2,564.60
37 Community Facilities (Recreational, etc.) $4,922.92 $5,129.20 38 Golf Courses $2,461.46 $2,564.60
39 Bowling Alleys $1,230.73 $1,282.30
40 Boat Harbors $3,076.83 $3,205.75
41 Supermarkets – (not shopping centers) $3,692.19 $3,846.90 42 Shopping Centers $4,922.92 $5,129.20
43 Financial Buildings – (Ins., Title, Banks, S&L) $1,230.73 $1,282.30 44 Motels, Hotels & Mobile Home Parks $6,153.65 $6,411.50 45 Theaters $2,769.14 $2,885.18
46 Drive-in Restaurants $1,846.10 $1,923.45
47 Restaurants $1,846.10 $1,923.45
48 Multiple & Commercial $1,846.10 $1,923.45
49 New Car Agencies $1,846.10 $1,923.45
50 Vacant Land (not part of Ind. Park or P. & D.) $461.52 $480.86 51 Industrial Park $3,692.19 $3,846.90
52 Research & Development $1,846.10 $1,923.45
53 Light Industrial $1,846.10 $1,923.45
54 Heavy Industrial $1,846.10 $1,923.45
55 Mini Warehouses (public storage) $3,692.19 $3,846.90 56 Misc. Improvements $3,692.19 $3,846.90
61 Rural, Res., Improvement 1A-10A $923.05 $961.73
62 Rural, w/or w/o structure 1A-10A $923.05 $961.73
70 Convalescent Hospitals / Rest Homes $1,846.10 $1,923.45 73 Hospitals $1,846.10 $1,923.45
74 Cemeteries / Mortuaries $1,846.10 $1,923.45
75 Fraternal & Service Organizations $1,846.10 $1,923.45 76 Retirement Housing Complex $6,153.65 $6,411.50
78 Parks & Playgrounds $3,692.19 $3,846.90
85 Public & Private Parking $1,846.10 $1,923.45
87 Common Area $1,846.10 $1,923.45
88 Mobile Homes $923.05 $961.73
89 Other (split parcels in different tax code areas) $923.05 $961.73 99 Homeowner's Association Owned Common Areas $738.44 $769.38

CALCULATION OF COST OF LIVING INCREASE
Percent increase from FY 2022-23 in the San Francisco-Oakland-Bay Area Consumer Price 4.19% Index for all Urban Consumers.

CITY OF OAKLEY SCHEDULE FOR POLICE SERVICE TAX
FOR FISCAL YEAR 2023/2024
The tax rates shown in this schedule shall be automatically adjusted on July 1 of each year, beginning on July 1, 2016 by the increase in the Consumer Price Index for all Urban Consumers for the San Francisco-Oakland-Bay Area and applying that rate to the prior year amounts for each property use code category. However, the City Council reserves the right to itself the opportunity to adjust the rate in the following year if the CPI adjustment is insufficient to reimburse the City for the costs of providing levels of police services as approved by the City Council.

Page 1 of 1 ends

5/25/2023
167

STAFF REPORT

City of Oakley | 3231 Main Street, Oakley, CA 94561
O (925) 625-7000 | F (925) 625-9859 | www.ci.oakley.ca.us DATE: February 13, 2024
TO: Joshua McMurray, City Manager
FROM: Jeri Tejeda, Administrative Service Director
SUBJECT: City of Oakley Quarterly Investment Report (2nd Quarter FY 23/24) Background and Analysis
California law and the City’s Investment Policy require the City’s fiscal officer to submit a quarterly investment report to the City Council at the end of each quarter. The report should contain information on all securities held and include a statement denoting the ability of the local agency to meet its expenditure requirements for the next six months.

Fiscal Impact
City resources are organized and accounted for on a fund basis with some of those funds being restricted for specified uses and others that are unrestricted. For investment purposes, however, the funds are invested as a pool. The Investment Report for the Period Ending December 31, 2023, attached shows a combined pool balance of $94,878,418.12 In addition, the pool had combined 2nd. Quarter accrued interest earnings of $130,919.41 compared to $148,516.52 at the end of the 1st.

Quarter. Interest for the period reflects the high rates currently being offered on safe investments, including LAIF’s short-term investments and the various types of investments that are being made through PFM, with terms of up to five years.

We continue to earn the stated rate of interest at cost on the investments that we have purchased, which can be seen in the PFM investment report and averaged 1.57% for the quarter ended December 31, 2023.

The City is in compliance with the adopted investment policy and able to meet its expenditure requirements for the next six months.

Staff Recommendation
Staff recommends the City Council accept the investment report for the 2nd. Quarter of Fiscal Year 2023-2024.

Approved and
Forwarded to the
City Council
168

STAFF REPORT
CITY HALL | 3231 Main Street, Oakley, CA 94561 2
O (925) 625-7000 | F (925) 625-9859 | www.CI.Oakley.CA.US Attachments

1. City of Oakley Investment Report for the quarter ended December 31, 2023. 169
Type* Name of Institution Rate Maturity**** Cost Amount Market Value** Investments in Wells Fargo Bank Account
- Commercial Checking Acct Public Funds 0.000% 12/31/2023 $ 14,190,270.19 $ 14,190,270.19 Investments with Wells Fargo Investment Advisors:
9 Institutional Money Market 0.242% N/A 1,872,141.78 1,872,141.78 Investments with State of California:
3 Local Agency Investment Fund (LAIF)-City 4.000% N/A 1,801,058.77 1,789,429.57 Investments with CalTRUST
11 Short-Term Investment Account-City 0.039% N/A 289,666.32 289,666.32 Investments with CAMP
13 Short-Term Investment Account-City 5.56.% N/A 48,466,916.42 48,466,916.42 Total Investments Other than Bond Proceeds 66,620,053.48 66,608,424.28 Investments with Wells Fargo Trust (bond proceeds): *** 2021 Refunding Revenue Bonds
9 Government Money Market
Wells Fargo Advantage Gov MM Svc 1.613% N/A 144,522.59 144,522.59 4 Certificates of Deposit (3)
2014 Refunding Revenue Bonds
9 Government Money Market
Wells Fargo Advantage Gov MM Svc 1.613% N/A 370,319.24 370,319.24 Investments with USBank Trust (bond proceeds): ***
2016 Lease Revenue Bonds
9 Government Money Market
USBank - First American Government Obligation 0.000% N/A 0.54 0.54 Total Investments of Bond Proceeds 514,842.37 514,842.37 Managed Investments with PFM (Detail Attached)
CAMP POOL See Detail 4,569,114.28 4,569,114.28
Managed Investments See Detail 23,961,083.68 23,186,037.19 Total Managed Investments 28,530,197.96 27,755,151.47
Total All City Investments $ 95,665,093.81 $ 94,878,418.12 Accrued Interest of Investments other than Bond Proceeds:

Wells Fargo Investment Advisors 4,531.61
Local Agency Investment Fund 59,799.75
PFM Asset Management 66,588.05
Accrued Interest as of 12/31/23 $ 130,919.41
* Type of investment as described in Authorized Investments section of the City's adopted Investment Policy

1. U.S Government Securities 5. Bankers Acceptance 9. Money market funds

2. U.S. Government Agency Securities 6. Commercial Paper 10. Repurchase agreements

3. Local Agency Investment Fund 7. Medium term notes 11. CalTRUST Short Term Account

4. Certificates of Deposit 8. Mutual funds 12. Overnight Sweep

13. CAMP Joint Powers Authority
** Market Valuation for LAIF was obtained at https://www.treasurer.ca.gov/pmia-laif/mktvalue/2023/202312.pdf Market value for all other investments was obtained from FT Interactive Data. As the City holds its investments to maturity, market value fluctuations are not significant.
*** Investment of bond proceeds is governed by each bond's Trust Agreement. All of the amounts with Wells Fargo Trust are debt service reserve funds. Investment income remains with the individual bond accounts. **** With the exception of CDs and managed investments, except for the CAMP POOL, all accounts have same day or next-day liquidity Approved by Jeri Tejeda Date
Administrative Services Director
Quarterly Investment Report
For the Quarter Ended December 31, 2023
The City of Oakley is in compliance with the City’s annually adopted investment policy and is able to meet its operating expenditure requirements for the next six months.
02/01/24
170
Investment Performance Review
For the Quarter Ended December 31, 2023
Client Management Team PFM Asset Management LLC
Lesley Murphy, Senior Managing Consultant
Allison Kaune, Senior Analyst
Rachael Miller, Client Consultant
213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
1 California Street Ste. 1000
San Francisco, CA 94111-5411
415-393-7270
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public City of Oakley
171
© PFM Asset Management LLC pfmam.com |
Market Summary
172
For the Quarter Ended December 31, 2023
QUARTERLY MARKET SUMMARY Fixed Income Management
Summary
► The fourth quarter was characterized by economic resilience but expectations for a modest slowdown, cooling inflation that remains above the target set by the Federal Reserve (Fed), the labor market coming into better balance, and consumers that continue to support U.S. economic growth through spending. ► The Fed kept the overnight target rate at its current range of 5.25% to 5.50% at its December 13 meeting and indicated that the historic 2022-23 hiking cycle had likely come to an end. The Fed also messaged a more dovish policy stance for 2024 as its updated “dot plot” showed three 25 basis points (bps) rate cuts for the year, which was more than previously projected. Yields fell significantly as a result, and Q4 was defined by a strong rally in both equities and bonds. ► With the Fed pivoting to easier monetary policy and a soft-landing scenario coming into focus, yields on U.S. Treasury maturities from one to 30 years declined 65 to 80 bps in Q4, while the S&P 500 Index jumped 11.7% and the technology-heavy NASDAQ was higher by 13.8%.

Economic Snapshot
► Real gross domestic product (GDP) increased at an annual rate of 2.1% in Q2 2023. Although only slightly, U.S. inflation (as measured by CPI) continued to trend lower in Q4 as both headline and core inflation (which excludes food and energy) continued to decline from their peaks in mid-2022. Shelter costs – the average household’s biggest expense – accounted for nearly 70% of the total increase in core CPI over the past year as home prices remain elevated. ► Real GDP expanded at an annualized pace of 4.9% in Q3 2023, after a

2.1% increase in Q2. The increase in Q3 reflected upticks in most segments, underscoring the resiliency of the U.S. economy. Estimates for 2024 indicate quarterly expectations on average of less than 1%, although positive, a confirmation of a slower pace of growth for the foreseeable future. ► The U.S. labor market remained strong, providing a continuing tailwind for the economy, although that strength has begun to moderate. In Q4, the U.S. economy added 494,000 new jobs compared to 663,000 from Q3, which represented the lowest quarterly increase since Q4 of 2019. Labor force participation dipped at year-end, while the unemployment rate of 3.7% was a few tenths of a percent off the generational low reached early in 2023. While still low from a historic perspective, this remains in line with the Fed’s projections for the headline unemployment rate to trend slightly higher over the next 12 months. ► Mortgage rates also descended from multi-decade highs, mirroring changes in overall yields, although they remained near the highest level of the past 20 years, ending the quarter around 6.6%. Despite lower mortgage rates, housing activity remained low, as existing home sales fell to the lowest level in over 20 years and Q4 new home sales declined 15% through November.

Interest Rates
► After peaking in October, a more dovish Fed and increased likelihood that the overnight target rate has reached its cycle-high drove interest rates lower through Q4. By the end of the year, the yield on a 2-year U.S. Treasury reached a 7-month low of 4.25%, while the 10-year U.S. Treasury note ended the year at 3.88%. ► Over the quarter, the yield on 2-, 5-, and 10-year U.S. Treasuries declined 79 bps, 76 bps, and 69 bps, respectively. Even the yield on a 3-month U.S. Treasury Bill declined by 11 bps, reflecting how aggressively markets have begun pricing in potential Fed rate cuts in the first half of 2024.
► As a result of notably lower yields, bond markets posted one of the best quarters over the past several decades. The ICE BofA 2-, 5-, and 10-year U.S.

Treasury indices returned 2.44%, 4.41%, and 6.60% respectively.

Sector Performance
► Market optimism also drove yield spreads on investment-grade (IG) corporates and other “spread sectors” lower in Q4, which resulted in strong excess returns across most non-government fixed income sectors. Diversification benefited portfolios during Q4 with longer duration and lower quality adding the most incremental value.
► Federal agency, municipal, and supranational spreads drifted slightly lower in Q4, having remained in a narrow range for most of the past year. As a result, these sectors posted positive excess returns relative to Treasuries, mostly from their modest incremental income. Excess returns of callable agencies outperformed bullet agencies as spreads tightened more as yields fell. ► IG corporates were one of the best performing fixed-income sectors for both Q4 and calendar year 2023. After a brief sell-off in late September and most of October, the IG corporate sector did an about-face and finished the year with spreads rallying to their lowest spread levels in over nine months. As a result, the combination of elevated incremental income and spread contraction helped buoy portfolio performance.
► The asset-backed securities (ABS) sector also generated positive excess returns in Q4, although they trailed the performance of IG corporates. While spreads tightened into year-end, the relatively muted rally vs. corporates underscores the potential for modestly weaker consumer fundamentals moving forward. Incremental income from ABS remains attractive and our fundamental outlook for the economy is supportive for the sector.
► Mortgage-backed securities (MBS) were one of the best performing IG sectors in Q4, despite a volatile roller coaster ride. After widening in October to their highest levels since the spring of 2020, MBS yield spreads proceeded to rally into year-end, finishing near nine-month lows. Agency commercial MBS performed particularly well.

PFM Asset Management LLC | For Institutional Investor or Investment Professional Use Only – This material is not for inspection by, distribution to, or quotation to the general public. 1 173
For the Quarter Ended December 31, 2023
QUARTERLY MARKET SUMMARY Fixed Income Management
Economic Snapshot
Labor Market Sep '23 Dec '22
Unemployment Rate Dec '23 3.7% 3.8% 3.5%
Change In Non-Farm Payrolls Dec '23 216,000 262,000 239,000 Average Hourly Earnings (YoY) Dec '23 4.1% 4.2% 4.8%
Personal Income (YoY) Nov '23 4.6% 4.6% 4.5%
Initial Jobless Claims (week) 1/6/24 202,000 209,000 206,000 Growth
Real GDP (QoQ SAAR) 2023Q3 4.9% 2.1% 2.7%
GDP Personal Consumption (QoQ SAAR) 2023Q3 3.1% 0.8% 1.6% Retail Sales (YoY) Nov '23 4.1% 4.0% 6.0%
ISM Manufacturing Survey (month) Dec '23 47.4 49.0 48.4 Existing Home Sales SAAR (month) Nov '23 3.82 mil. 3.95 mil. 4.03 mil.

Inflation/Prices
Personal Consumption Expenditures (YoY) Nov '23 2.6% 3.4% 5.4% Consumer Price Index (YoY) Dec '23 3.4% 3.7% 6.5%
Consumer Price Index Core (YoY) Dec '23 3.9% 4.1% 5.7%
Crude Oil Futures (WTI, per barrel) Dec 31 $71.65 $90.79 $80.26 Gold Futures (oz.) Dec 31 $2,072 $1,848 $1,826
Latest
-400K
-200K
0 200K
400K
600K
800K
1,000K

0.0%

2.0%

4.0%

6.0%

8.0%
Dec '20 Jun '21 Dec '21 Jun '22 Dec '22 Jun '23 Dec '23 Unemployment Rate (left) vs. Change in Non-farm Payrolls (right) Change In Non-Farm Payrolls Unemployment Rate
-10%
0%
10%
20%
30%
40%
Sep '20 Mar '21 Sep '21 Mar '22 Sep '22 Mar '23 Sep '23 Real GDP (QoQ)
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Dec '20 Jun '21 Dec '21 Jun '22 Dec '22 Jun '23 Dec '23 Consumer Price Index
CPI (YoY) Core CPI (YoY)
2 2
1 1

1. Data as of Second Quarter 2023.

2. Data as of Third Quarter 2022.

Note: YoY = year-over-year, QoQ = quarter-over-quarter, SAAR = seasonally adjusted annual rate, WTI = West Texas Intermediate crude oil.

Source: Bloomberg.

Interest Rate Overview
U.S. Treasury Note Yields U.S. Treasury Yield Curve
U.S. Treasury Yields Yield Curves as of December 31, 2023 0%
1%
2%
3%
4%
5%
6%
3-mo1-yr2-yr3-yr5-yr7-yr10-yr20
y
30-yr
Yield
Maturity
December 31, 2023 September 30, 2023 December 31, 2022
0%
1%
2%
3%
4%
5%
6%
3-mo1-yr2-yr3-yr5-yr07-yr10-yr25-yr30-yr
Yield
Maturity
U.S. Treasury Federal Agency Corporates, A Rated

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
12/31/22 3/31/23 6/30/23 9/30/23 12/31/23
Yield
2-Year 5-Year 10-Year
Maturity Dec '23 Sep '23 Change over
Quarter
Dec '22 Change over
Year
3-Month 5.34% 5.45% (0.11%) 4.37% 0.97%
1-Year 4.77% 5.46% (0.69%) 4.71% 0.06%
2-Year 4.25% 5.05% (0.80%) 4.43% (0.18%)
5-Year 3.85% 4.61% (0.76%) 4.01% (0.16%)
10-Year 3.88% 4.57% (0.69%) 3.88% 0.00%
30-Year 4.03% 4.70% (0.67%) 3.97% 0.06%
PFM Asset Management LLC | For Institutional Investor or Investment Professional Use Only – This material is not for inspection by, distribution to, or quotation to the general public. 3 175
For the Quarter Ended December 31, 2023
QUARTERLY MARKET SUMMARY Fixed Income Management
December 31, 2023 Duration Yield 3 Month 1 Year 3 Years 1-3 Year Indices
U.S. Treasury 1.83 4.34% 2.49% 4.26% (0.04%)
Federal Agency 1.60 4.44% 2.53% 4.69% 0.11%
U.S. Corporates, A-AAA rated 1.80 5.02% 2.98% 5.33% 0.46% Agency MBS (0 to 3 years) 1.77 5.11% 3.23% 4.83% (1.06%) Taxable Municipals 1.49 4.75% 2.39% 4.86% 1.10%
1-5 Year Indices
U.S. Treasury 2.59 4.17% 3.10% 4.30% (0.76%)
Federal Agency 1.97 4.36% 2.81% 4.68% (0.55%)
U.S. Corporates, A-AAA rated 2.51 4.92% 3.82% 5.89% (0.25%) Agency MBS (0 to 5 years) 2.63 4.94% 4.90% 4.88% (1.38%) Taxable Municipals 2.29 4.65% 2.99% 5.30% 0.07%
Master Indices (Maturities 1 Year or Greater)
U.S. Treasury 6.43 4.11% 5.72% 3.87% (4.04%)
Federal Agency 3.35 4.33% 3.86% 4.90% (1.63%)
U.S. Corporates, A-AAA rated 6.94 4.95% 7.62% 7.43% (3.55%) Agency MBS (0 to 30 years) 5.44 4.73% 7.37% 4.98% (2.96%) Taxable Municipals 9.15 4.92% 8.45% 8.35% (4.30%)
Source: ICE BofAML Indices.

As of 12/31/2023 Returns for Periods ended 12/31/2023
Returns for periods greater than one year are annualized.

PFM Asset Management LLC | For Institutional Investor or Investment Professional Use Only – This material is not for inspection by, distribution to, or quotation to the general public.

ICE BofAML Index Returns
4 176
For the Quarter Ended December 31, 2023
QUARTERLY MARKET SUMMARY Fixed Income Management
Disclosures
PFM Asset Management LLC (“PFMAM”) is an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. (“USBAM”). USBAM is a subsidiary of U.S. Bank National Association (“U.S. Bank”). U.S. Bank is a separate entity and subsidiary of U.S. Bancorp. U.S.

Bank is not responsible for and does not guarantee the products, services or performance of PFMAM.

The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC at the time of distribution and are subject to change.

Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management LLC cannot guarantee its accuracy, completeness, or suitability. The information contained in this report is not an offer to purchase or sell any securities.

NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
Further distribution is not permitted without prior written consent.

CITY OF OAKLEY
6 178
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Compliance
|
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM").

Certificate of Compliance
During the reporting period for the quarter ended December 31, 2023, the account(s) managed by PFM Asset Management("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged : PFM Asset Management LLC
7 179
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Account Summary
|
Account Summary

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

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

2. City of Oakley - City of Oakley - 6111-01
Portfolio Values December 31, 2023CAMP Managed Account $23,186,037 CAMP Pool $4,569,114
Amortized Cost $24,137,437
Market Value $23,186,037
Accrued Interest $66,588
Cash $0
Analytics¹ December 31, 2023Yield at Market 4.55%
Yield on Cost 1.57%Portfolio Duration 1.62
CAMP Pool7-Day Yield 5.56%
8 180
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Portfolio Snapshot
|
Total market value includes accrued interest and balances invested in CAMP, as of December 31, 2023.Yield and duration calculations exclude balances invested in CAMP.The portfolio’s benchmark is the ICE BofA 1-5 Year U.S. Treasury Index. Source: Bloomberg.

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

1. Portfolio Snapshot - CAMP-CITY OF OAKLEY¹
Credit Quality - S&P
31% 31% 30%
8%
4%
34%
27%
21%
14%
0%5%
10%15%20%25%30%35%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 69%Joint Powers Authority | 17%Corporate | 15% Sector Allocation
AAAm | 16%AA+ | 71%AA | 2%AA- | 1%A+ | 3%A | 3%A- | 3%
BBB+ | 1%
Portfolio Statistics
Portfolio Effective Duration 1.62 years
Benchmark Effective Duration 2.53 yearsPortfolio Credit Quality AA Yield At Market 4.55%
Yield At Cost 1.57%
Total Market Value $27,821,739.52
Managed Account Sub-Total $23,186,037.19Pool $4,569,114.28 Accrued Interest $66,588.05
9 181
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Portfolio Characteristics
|
$0.0$6.0
$12.0$18.0$24.0$30.0
Millions
December 2023
$0.0$6.0
$12.0$18.0$24.0$30.0
Millions
September 2023
$0.0$6.0
$12.0$18.0$24.0$30.0
Millions
June 2023
$0.0$6.0
$12.0$18.0$24.0$30.0
Millions
March 2023
Sector Allocation Review
U.S. Treasury Corporate Joint Powers Authority
Market values, excluding accrued interest. Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. Detail may not add to total due to rounding.

Security Type Mar-23 % of Total Jun-23 % of Total Sep-23 % of Total Dec-23 % of Total U.S. Treasury $23.1 79.7% $23.0 79.6% $20.6 77.6% $19.1 68.6%Corporate $4.1 14.1% $4.1 14.0% $4.0 15.2% $4.1 14.9%Joint Powers Authority $1.8 6.2% $1.9 6.4% $1.9 7.2% $4.6 16.5%Total $29.0 100.0% $28.9 100.0% $26.6 100.0% $27.8 100.0% 10 182
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Portfolio Activity
|
Portfolio Activity
Net Activity by Sector
($ millions)
U.S. TreasuryU.S. Treasury
($2.5) ($2.0) ($1.5) ($1.0) ($0.5) $0.0
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.

Sector Net ActivityU.S. Treasury ($2,032,594)Total Net Activity ($2,032,594) Sales/Maturities Purchases
11 183
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Portfolio Performance
|

1. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2. Returns are presented on a periodic basis.3. The portfolio’s benchmark is the ICE BofA 1-5 Year U.S. Treasury Index. Source: Bloomberg. -1.0%

0.0%1.0%2.0%3.0%4.0%
Return
Portfolio Benchmark Net of Fees
Portfolio Performance
Market Value Basis Earnings 4Q2023 3Q2023 2Q2023 1Q2023Interest Earned¹ $130,957 $95,540 $92,673 $69,981Change in Market Value $517,465 $123,114 ($147,308) $417,203 Total Dollar Return $648,422 $218,654 ($54,635) $487,184 Total Return²
Portfolio 2.22% 0.75% -0.19% 1.71%Benchmark³ 3.10% 0.23% -0.86% 1.82%Basis Point Fee 0.02% 0.02% 0.02% 0.02%Net of Fee Return 2.20% 0.73% -0.21% 1.68% 4Q2023 3Q2023 2Q2023 1Q2023
12 184
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Portfolio Performance
|

1. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2. Realized gains / (losses) are shown on an amortized cost basis.

Accrual Basis Earnings
Accrual Basis EarningsInterest Earned¹Realized Gains / (Losses)²Change in Amortized CostTotal Earnings 4Q2023
$130,957- $35,199
$166,156
3Q2023
$95,540- $35,926
$131,466
2Q2023
$92,673- $35,543
$128,216
1Q2023
$69,981- $35,579
$105,560
13 185
© PFM Asset Management LLC pfmam.com |
Portfolio Holdings and Transactions
14 186
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Portfolio Summary
|
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balancesinvested in overnight funds.

Issuer Diversification
Security Type / Issuer Market Value (%) S&P / Moody's / FitchU.S. Treasury 82.1% UNITED STATES TREASURY 82.1% AA / Aaa / AA
Corporate 17.9%
3M COMPANY 0.9% BBB / A / NR
AMAZON.COM INC 3.0% AA / A / AAAPPLE INC 1.6% AA / Aaa / NR BANK OF AMERICA CO 1.8% A / A / AABRISTOL-MYERS SQUIBB CO 0.9% A / A / NRBURLINGTON NORTHERN SANTA FE 0.9% AA / A / NR COMCAST CORP 0.9% A / A / AGOOGLE INC 1.2% AA / Aa / NRJP MORGAN CHASE & CO 0.9% A / A / AAMASTERCARD INC 0.9% A / Aa / NRSTATE STREET CORPORATION 1.8% A / A / AATARGET CORP 0.9% A / A / ATEXAS INSTRUMENTS INC 1.2% A / Aa / NR TOYOTA MOTOR CORP 0.9% A / A / A
Total 100.0%
15 187
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Portfolio Composition
|
Issuer Distribution
As of December 31, 2023
Issuer Market Value ($) % of Portfolio
UNITED STATES TREASURY 19,051,601 68.64%CAMP POOL 4,569,114 16.46% AMAZON.COM INC 686,071 2.47%
BANK OF AMERICA CO 425,770 1.53%STATE STREET CORPORATION 413,074 1.49% APPLE INC 381,445 1.37%
GOOGLE INC 283,443 1.02%TEXAS INSTRUMENTS INC 272,082 0.98%MASTERCARD INC 217,960 0.79%TOYOTA MOTOR CORP 212,600 0.77%JP MORGAN CHASE & CO 210,790 0.76%TARGET CORP 209,966 0.76%BRISTOL-MYERS SQUIBB CO 209,660 0.76%3M COMPANY 206,263 0.74%BURLINGTON NORTHERN SANTA FE 205,215 0.74%COMCAST CORP 200,098 0.72% Grand Total 27,755,151 100.00%
16 188
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Portfolio Holdings
|
Managed Account Detail of Securities Held
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY NOTESDTD 03/31/2017 2.125% 03/31/2024
912828W71 2,400,000.00 AA+ Aaa 10/13/2021 10/14/2021 2,495,156.25 0.50 12,959.02 2,409,526.21 2,381,250.00 US TREASURY NOTESDTD 09/15/2021 0.375% 09/15/2024
91282CCX7 2,500,000.00 AA+ Aaa 10/13/2021 10/14/2021 2,482,617.19 0.62 2,781.59 2,495,796.85 2,420,312.50 US TREASURY NOTESDTD 11/15/2021 0.750% 11/15/2024
91282CDH1 2,050,000.00 AA+ Aaa 3/14/2022 3/16/2022 1,984,496.09 1.99 1,985.23 2,028,568.46 1,978,250.00 US TREASURY NOTESDTD 03/31/2020 0.500% 03/31/2025
912828ZF0 1,425,000.00 AA+ Aaa 10/13/2021 10/14/2021 1,413,087.89 0.75 1,810.45 1,420,712.02 1,354,640.63 US TREASURY NOTESDTD 05/31/2020 0.250% 05/31/2025
912828ZT0 1,000,000.00 AA+ Aaa 3/14/2022 3/16/2022 944,687.50 2.04 218.58 975,647.40 941,718.80 US TREASURY NOTESDTD 09/30/2020 0.250% 09/30/2025
91282CAM3 2,320,000.00 AA+ Aaa 10/13/2021 10/14/2021 2,264,265.63 0.87 1,473.77 2,295,426.03 2,160,500.00 US TREASURY NOTESDTD 01/31/2021 0.375% 01/31/2026
91282CBH3 1,490,000.00 AA+ Aaa 5/2/2022 5/3/2022 1,352,349.61 3.00 2,338.25 1,413,482.87 1,376,387.50 US TREASURY NOTESDTD 03/31/2021 0.750% 03/31/2026
91282CBT7 1,835,000.00 AA+ Aaa 10/13/2021 10/14/2021 1,816,721.68 0.98 3,497.03 1,825,799.13 1,703,109.38 US TREASURY NOTESDTD 05/31/2021 0.750% 05/31/2026
91282CCF6 930,000.00 AA+ Aaa 6/6/2022 6/7/2022 850,732.03 3.04 609.84 881,970.37 858,506.25 US TREASURY NOTESDTD 09/30/2021 0.875% 09/30/2026
91282CCZ2 2,510,000.00 AA+ Aaa 10/13/2021 10/14/2021 2,487,939.45 1.06 5,580.64 2,497,788.78 2,306,062.50 US TREASURY NOTESDTD 04/30/2020 0.500% 04/30/2027
912828ZN3 835,000.00 AA+ Aaa 8/3/2022 8/4/2022 744,813.48 2.96 711.13 771,660.91 745,628.95 US TREASURY NOTESDTD 08/15/2017 2.250% 08/15/2027
9128282R0 875,000.00 AA+ Aaa 9/6/2022 9/7/2022 826,567.38 3.48 7,436.31 839,488.12 825,234.38 Security Type Sub-Total 20,170,000.00 19,663,434.18 1.44 41,401.84 19,855,867.15 19,051,600.89 17 189
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Joint Powers Authority
CAMP Pool 4,569,114.28 AAAm NR 4,569,114.28 0.00 4,569,114.28 4,569,114.28 Security Type Sub-Total 4,569,114.28 4,569,114.28 0.00 4,569,114.28 4,569,114.28 Corporate

ALPHABET INC CORP NOTES
(CALLABLE)DTD 08/09/2016 1.998% 08/15/2026
02079KAC1 300,000.00 AA+ Aa2 3/14/2022 3/16/2022 294,777.00 2.42 2,264.40 296,901.17 283,443.30 TARGET CORP CORP NOTES(CALLABLE)DTD 01/24/2022 1.950% 01/15/2027 87612EBM7 200,000.00 A A2 3/14/2022 3/16/2022 194,764.00 2.53 1,798.34 196,708.97 186,636.40 TARGET CORP CORP NOTES(CALLABLE)DTD 01/24/2022 1.950% 01/15/2027 87612EBM7 25,000.00 A A2 1/19/2022 1/24/2022 24,957.50 1.99 224.79 24,974.04 23,329.55 BANK OF AMERICA CORP NOTES(CALLABLE)DTD 10/21/2016 3.248% 10/21/2027 06051GGA1 225,000.00 A- A1 1/3/2023 1/5/2023 210,411.00 4.78 1,421.00 213,420.50 214,427.03 TEXAS INSTRUMENTS INC CORPNOTES (CALLABDTD 11/03/2017 2.900% 11/03/2027 882508BC7 285,000.00 A+ Aa3 1/3/2023 1/5/2023 267,880.05 4.29 1,331.58 271,385.61 272,082.09 AMAZON.COM INC CORPORATE
NOTESDTD 05/12/2021 0.450% 05/12/2024
023135BW5 300,000.00 AA A1 3/14/2022 3/16/2022 290,007.00 2.04 183.75 298,326.05 294,702.60 TOYOTA MOTOR CREDIT CORP CORPNOTESDTD 02/13/2020 1.800% 02/13/2025 89236TGT6 220,000.00 A+ A1 10/13/2021 10/15/2021 225,425.20 1.04 1,518.00 221,823.26 212,600.30 3M COMPANY (CALLABLE) CORPNOTESDTD 08/26/2019 2.000% 02/14/2025 88579YBH3 215,000.00 BBB+ A3 10/13/2021 10/15/2021 222,221.85 0.97 1,636.39 217,305.88 206,263.05 MASTERCARD INC CORP NOTES(CALLABLE)DTD 12/03/2019 2.000% 03/03/2025 57636QAN4 225,000.00 A+ Aa3 3/14/2022 3/16/2022 222,387.75 2.41 1,475.00 223,970.05 217,959.53 BURLINGTN NORTH SANTA FE CORPNOTES (CALDTD 03/09/2015 3.000% 04/01/2025 12189LAV3 210,000.00 AA- A3 10/13/2021 10/15/2021 223,351.80 1.12 1,575.00 214,162.49 205,214.52 18 190
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Portfolio Holdings
|
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
AMAZON.COM INC CORPORATE
NOTESDTD 04/13/2022 3.000% 04/13/2025
023135CE4 400,000.00 AA A1 4/11/2022 4/13/2022 399,364.00 3.06 2,600.00 399,728.42 391,368.40

APPLE INC (CALLABLE) CORP NOTES
DTD 05/11/2020 1.125% 05/11/2025
037833DT4 400,000.00 AA+ Aaa 10/13/2021 10/15/2021 401,944.00 0.99 625.00 400,711.07 381,445.20 COMCAST CORP (CALLABLE)CORPORATE NOTESDTD 05/27/2015 3.375% 08/15/2025 20030NBN0 205,000.00 A- A3 10/13/2021 10/15/2021 221,514.80 1.22 2,613.75 211,313.00 200,098.25 BRISTOL-MYERS SQUIBB COCORPORATE NOTESDTD 11/13/2020 0.750% 11/13/2025 110122DN5 225,000.00 A A2 3/14/2022 3/16/2022 210,096.00 2.66 225.00 217,403.19 209,659.73 BANK OF AMERICA CORP(CALLABLE) CORPORATDTD 02/13/2020 2.015% 02/13/2026 06051GHY8 220,000.00 A- A1 10/13/2021 10/15/2021 225,106.20 1.46 1,699.32 221,716.05 211,342.56 STATE STREET CORP NOTES(CALLABLE)DTD 10/29/2020 2.901% 03/30/2026 857477BM4 215,000.00 A A1 3/14/2022 3/16/2022 215,483.75 2.84 1,576.61 215,197.86 208,966.67 STATE STREET CORP NOTES(CALLABLE)DTD 10/29/2020 2.901% 03/30/2026 857477BM4 210,000.00 A A1 10/13/2021 10/15/2021 222,541.20 1.51 1,539.95 214,511.65 204,106.98 JPMORGAN CHASE & CO (CALLABLE)DTD 04/15/2020 2.083% 04/22/2026 46647PBK1 220,000.00 A- A1 10/13/2021 10/15/2021 225,416.40 1.52 878.33 222,010.60 210,790.14 Security Type Sub-Total 4,300,000.00 4,297,649.50 2.20 25,186.21 4,281,569.86 4,134,436.30 Managed Account Sub Total 24,470,000.00 23,961,083.68 66,588.05 23,186,037.19Securities Sub TotalAccrued Interest $29,039,114.28 $28,530,197.96 $66,588.05 $27,755,151.47 $66,588.05
24,137,437.01
$28,706,551.29

1.57 1.57%
Total Investments $27,821,739.52
19 191
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST10/1/2023 10/1/2023 210,000.00 12189LAV3 BURLINGTN NORTH SANTA FE CORP NOTES (CAL 3.00% 4/1/2025 3,150.0010/13/2023 10/13/2023 400,000.00 023135CE4 AMAZON.COM INC CORPORATE NOTES 3.00% 4/13/2025 6,000.0010/21/2023 10/21/2023 225,000.00 06051GGA1 BANK OF AMERICA CORP NOTES (CALLABLE) 3.24% 10/21/2027 3,654.0010/22/2023 10/22/2023 220,000.00 46647PBK1 JPMORGAN CHASE & CO (CALLABLE) 2.08% 4/22/2026 2,291.3010/31/2023 10/31/2023 835,000.00 912828ZN3 US TREASURY NOTES 0.50% 4/30/2027 2,087.5011/3/2023 11/3/2023 285,000.00 882508BC7 TEXAS INSTRUMENTS INC CORP NOTES (CALLAB 2.90% 11/3/2027 4,132.5011/11/2023 11/11/2023 400,000.00 037833DT4 APPLE INC (CALLABLE) CORP NOTES 1.12% 5/11/2025 2,250.0011/12/2023 11/12/2023 300,000.00 023135BW5 AMAZON.COM INC CORPORATE NOTES 0.45% 5/12/2024 675.0011/13/2023 11/13/2023 225,000.00 110122DN5 BRISTOL-MYERS SQUIBB CO CORPORATE NOTES 0.75% 11/13/2025 843.7511/15/2023 11/15/2023 2,050,000.00 91282CDH1 US TREASURY NOTES 0.75% 11/15/2024 7,687.5011/30/2023 11/30/2023 930,000.00 91282CCF6 US TREASURY NOTES 0.75% 5/31/2026 3,487.5011/30/2023 11/30/2023 1,000,000.00 912828ZT0 US TREASURY NOTES 0.25% 5/31/2025 1,250.00 Total INTEREST 7,080,000.00 37,509.05 0.00
MATURITY12/31/2023 12/31/2023 2,025,000.00 91282CDR9 US TREASURY NOTES 0.75% 12/31/2023 2,032,593.75 Total MATURITY 2,025,000.00 2,032,593.75 0.00
20 192
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Appendix
|
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.Investment advisory services are provided by PFM Asset Management LLC ("PFMAM"), an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. ("USBAM"). USBAM is a subsidiary of U.S. Bank National Association ("U.S. Bank"). U.S. Bankis a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sourcesexternal to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to particular issuers arefor illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion ofthe strategy rated by a NRSRO.It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.

Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any salescharges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to belower than the performance shown.The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast,projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion asof the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as actualevents occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and datapresented are not necessarily indicative of future events or expected performance.For more information regarding PFMAM's services or entities, please visit www.pfmam.com.© 2023 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 21 193
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Appendix
|
Important Disclosures
This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buyor sell any fund or other security. Investors should consider the Trust's investment objectives, risks, charges, and expenses before investing in the Trust. This and otherinformation about the Trust is available in the Trust's current Information Sheet, which should be read carefully before investing. A copy of the Trust's information Statement may be available by calling 1-800-729-7665 or is available on the Trust's website at www.camponline.com. While the Cash Reserve Portfolio seeks tomaintain a stable net asset value of $1.00 per share and the CAMP TERM Portfolio seeks to achieve a net asset value of $1.00 per share at the stated maturity, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any othergovernment agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) andSecurities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.

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

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

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

Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets.Money market fund/cash balances are included in performance and duration computations.Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.MBS maturities are represented by expected average life. 22 194
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Appendix
|
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.Agencies: Federal agency securities and/or Government-sponsored enterprises.Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.

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

Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector addedor subtracted from the overall portfolio performance.Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compoundingon investment returns, while nominal yield does not.FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.Interest Rate: Interest per year divided by principal amount and expressed as a percentage.Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.Maturity: The date upon which the principal or stated value of an investment becomes due and payable.Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.Par Value: The nominal dollar face amount of a security.Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is themortgage-backed security. 23 195
© PFM Asset Management LLC pfmam.com
City of Oakley
For the Quarter Ended December 31, 2023
Appendix
|
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments andmaturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whosedecisions are binding on its members.Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.U.S. Treasury: The department of the U.S. government that issues Treasury securities.Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.

YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time periodfrom purchase date to maturity, stated as a percentage on an annualized basis.YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the timeperiod remaining until maturity, stated as a percentage on an annualized basis. 24 196

STAFF REPORT

City of Oakley | 3231 Main Street, Oakley, CA 94561
O (925) 625-7000 | F (925) 625-9859 | www.ci.oakley.ca.us DATE: February13,2023
TO: Joshua McMurray, City Manager
FROM: Jeri Tejeda, Administrative Service Director
SUBJECT: City of Oakley as Successor Agency to the Oakley Redevelopment Agency – Quarterly Investment Report (2nd Quarter FY 23/24) Background and Analysis
California law and the City’s Investment Policy require the Agency’s fiscal officer to submit a quarterly investment report to the Agency’s governing board. The report should contain information on all securities held and include a statement denoting the ability of the local agency to meet its expenditure requirements for the next six months.

Consistency with the Oakley Strategic Plan 27+
This agenda item does not apply to the Oakley Strategic Plan as it is specifically for the Successor Agency to the Oakley Redevelopment Agency.

Fiscal Impact
The Investment Report for the Period Ending December 31, 2023, attached shows a balance of $15,341.99 in cash for operations before the City receives the next distribution from the Department of Finance requested with the ROPS. To increase annual cash flow savings of refunding bonds, cash reserves were applied to bond insurance with Build America Mutual (BAM). The Reserve Requirements are satisfied in face amounts of $571,000.00 for 2015 Bonds and $1,827,318.76 for 2018 Bonds.

The Agency is in compliance with the City’s annually adopted investment policy. The tax revenues distributed to the Agency are sufficient to make the Agency’s enforceable obligation payments as approved by the Department of Finance.

Staff Recommendation
Staff recommends the City Council, as the Board of the Successor Agency, accept the investment report for the 2nd Quarter of Fiscal Year 23/24.

Attachments

1. City of Oakley as Successor Agency to the Redevelopment Agency Investment Report for the quarter ended December 31, 2023.

Approved and
Forwarded to the
City Council
197
.

Type* Name of Institution Rate Maturity*** Cost Amount Market Value Investments in Wells Fargo Bank Account
Successor Agency Checking 1.090% N/A $ 15,341.99 $ 15,341.99 Total Investments Other than Bond Proceeds 15,341.99 15,341.99 Investments with US Bank Trust (bond proceeds): **
20015 A&B Tax Allocation Refunding Bonds - -
2018 Tax Allocation Refunding Bonds - -
Total Investments of Bond Proceeds - -
Total Agency Investments $ 15,341.99 $ 15,341.99
* Type of investment as described in Authorized Investments section of the City's adopted Investment Policy

1. U.S Government Securities 5. Bankers Acceptance 9. Money market funds

2. U.S. Government Agency Securities 6. Commercial Paper 10. Repurchase agreements

3. Local Agency Investment Fund 7. Medium term notes 11. CalTRUST Short Term Account

4. Certificates of Deposit 8. Mutual funds 12. Overnight Sweep ** Investment of bond proceeds is governed by each bond's Trust Agreement. Reserve Requirements are satisfied by BAM surety policy in face amounts equal to $571,000 for 2015 Bonds and $1,827,318.76 for 2018 Bonds. *** All Successor Agency accounts have same day or next day liquidity Approved by Jeri Tejeda Date
Adminstrative Services Director
City of Oakley as Successor Agency to the
Oakley Redevelopment Agency
Quarterly Investment Report
For the Quarter Ended December 31, 2023
The City of Oakley, as Successor Agency to the Oakley Redevelopment Agency, is in compliance with the City’s annually adopted investment policy.
02/01/24
198

STAFF REPORT

City of Oakley | 3231 Main Street, Oakley, CA 94561
O (925) 625-7000 | F (925) 625-9859 | www.ci.oakley.ca.us DATE: February 13, 2024
TO: Joshua McMurray, City Manager
FROM: Jeri Tejeda, Administrative Services Director
SUBJECT: Adopt a Resolution Approving the City of Oakley Fiscal Year 2023/2024 Mid-Year Budget Review including the
recommended amendments to the General Fund and ARPA
Fund as well as the amendments to the salary schedule.

Background and Analysis
City Policy requires the City Manager to make a mid-year budget report to the City Council in February of each year. The process provides an opportunity to review the status of the Budget at mid-year and to adjust the City’s planned operations and budget, as necessary. This year’s report is attached and includes a State of the Budget and summary of staff recommendations, detailed assessments of both operating and capital budgets, and a schedule summarizing the ARPA funding.

Consistency with the Oakley Strategic Plan 27+
This agenda item is consistent with the Strategic Plan 27+ goal for the City of Oakley to leverage its financial resources for the long-term benefit of our residents and businesses while maintaining sufficient reserves to provide stability and ensure a successful future. It is also consistent with the Finance and Fiscal Responsibility Objective to develop and maintain a financial strategy and reporting policy.

Fiscal Impact
For a detailed listing of all staff recommended changes and fiscal impacts to the budget, refer to the Mid-Year Budget Review and other attachments to this report.

Staff Recommendation
Staff recommends the City Council adopt the resolution approving the City of Oakley Fiscal Year 2023/2024 Mid-Year Budget Review and adopting its recommendations for revising the Fiscal Year 2023/2024 Operating and Capital Budgets as well as the amendments to the salary schedule.

Attachments

1. Resolution

2. Mid-Year Budget Report

3. Salary Scheduled Amended 2/13/2024
Approved and
Forwarded to the
City Council
199
Resolution No. XX-24 Page 1 of 2
RESOLUTION NO. X-24

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF OAKLEY APPROVING THE FISCAL YEAR 2023/2024 MID-YEAR BUDGET REVIEW AND ADOPTING ITS RECOMMENDATIONS FOR REVISING THE FISCAL YEAR 2023/2024 OPERATING

AND CAPITAL BUDGETS AND APPROVAL OF THE AMENDMENTS TO THE SALARY

SCHEDULE
WHEREAS, the City is required by law to approve a budget prior to the beginning of each fiscal year, and finds it prudent to review the status of the budget at mid-year each year; and WHEREAS, the Administrative Services Director and other City Department Directors have undertaken a thorough review and projected revenues and expenditures for the remainder of the fiscal year; and
WHEREAS, the City Council of the City of Oakley has been presented with a Mid-year Budget Report, including a State of the Budget, and summary of staff recommendations; BE IT RESOLVED by the City Council of the City of Oakley hereby approves and adopts the Staff recommendations included in the Mid-year Budget Report presented by the City Manager. Staff Recommendations are as follows:

Increase Property Tax Revenue by $133,825
Increase Property Tax in Lieu Revenue by $115,876
Increase Interest Income Revenue by $180,000
Increase Sale of Property Revenue by $922,581
Decrease Building Permit Fee Revenue by $140,000
Decrease Sales Tax Revenue by $147,000
Decrease Interfund Charges Revenue by $153,597
Add Senior Recreation Leader to the Salary Schedule
Un-Allocate ARPA funding for COVID Expenses of $219,533 Un-Allocate ARPA funding for CIP 285 Bethel Island Rd. of $378,503 Un-Allocate ARPA funding for Software/Technology of $472,617 Allocate ARPA funding for CIP 215 Downtown Parking Lot of $150,000 Allocate ARPA funding for CIP 280 Laurel Rd. Widening of $550,000 Allocate ARPA funding for Equipment-Scissor Lift of $20,000 Allocate ARPA funding for Teen/Recreation Center of $10,000 Allocate ARPA Funding for the Library Project of $3,000,000 200
Resolution No. XX-24 Page 2 of 2
PASSED AND ADOPTED by the City Council of the City of Oakley this 13th day of February 2024 by the following vote:

AYES:

NOES:

ABSTENTION:

ABSENT:

APPROVED:
___________________
Anissa Williams, Mayor
ATTEST:
____________________ __________
Libby Vreonis, City Clerk Date
201

MID-YEAR BUDGET REVIEW
2023 2024
202
STATE OF THE BUDGET 3
GENERAL FUND SUMMARY 4
OTHER FUNDS SUMMARY 6
CAPITAL PROJECT UPDATE 6
ARPA FUNDING UPDATE 7
SUMMARY OF STAFF RECOMMENDATIONS 9
LOOKING FORWARD 9
ALL FUNDS SUMMARY 10
BUDGET SCHEDULE FISCAL YEAR 2024-2025 BUDGET 21

TABLE OF

CONTENTS
203
The Mid-Year Budget Review covers the period of July 1, 2023 through December 31, 2023. While Property Tax, Property Tax In-Lieu, Police Services and Interest Income is anticipated to come in higher than originally anticipated, Sales Tax, Interfund Charges and Building fees are expected to finish the year with lower than expected revenues. This net will be neutral, but the sale of properties that was not in the original budget will bring the General Fund revenues in higher than expected. In other funds, lower than anticipated building revenue has the potential to affect some of the many CIP projects budgeted in impact fee and capital project funds.

Property Tax continues to have significant growth. Property Tax is expected to have an 8.49% increase in the current year. This is approximately 2.49% higher than the budget of 6% adding approximately $134,000 in revenue.

General fund expenditures are on track and are expected to end the year at or below the original budget. Capital project funds as well as impact fee funds currently have budget allocated to several CIP projects. As building revenue is still recovering from a slow down in fiscal year 2022- 2023, some CIP project funding may need to be placed on hold for the remainder of fiscal year 2023-2024.

In fiscal year 2022, a total of 292 permits were issued and building was higher than normal. In fiscal year 2023, the total permits decreased by 156 to 136 total permits. As of December 31, 2023, only 48 single family permits have been issued. The significant decrease in 2023 and the continued decline in 2024 has created some fund balance issues within the impact fee and capital project funds. When budgeting for fiscal year 2024, the decrease in revenue was not fully anticipated, therefore staff has prepared for a potential un-funding of certain projects should it be needed. As the housing market begins to look up, staff suggests waiting until April/May before making the determination to un-fund projects. In preparation, we are delaying the start of certain projects in case their funding allocation is needed to help balance the fund.

The financial forecast on the economy continues to remain fairly stable. Although there have been rumors of a potential recession, our sales tax consultants, believe we won’t see a true recession. It is believed we will continue to experience some slowing of the economy, but it is also expected it will recover quickly and we should start to see that recovery in early 2024.

Although the future is hopeful, the economy has still had a slowing, affecting our budget as we wait for building permit revenue to increase. As we review the current year budget and look forward to fiscal year 2024-2025, it will be important for us to remain conservative.

STATE OF THE BUDGET
204
Account Description
Original
Budget
Proposed
Adjusted
Budget
Increase/
(Decrease)
to Budget
Property Tax $4,929,000 $5,062,825 $133,825
Property Tax In-Lieu $4,918,326 $5,034,202 $115,876
Interest Income $370,000 $550,000 $180,000
Sale of Property $0 $922,581 $922,581
Building Permit Fees $830,000 $690,000 ($140,000)
Sales Tax $3,100,000 $2,953,000 ($147,000)
Interfund Charges $3,642,039 $3,448,442 ($153,597)
Total Change $911,685
In accordance with the City’s Financial Policies, the original current year budget was conservative when adopted. The policies also call for one-time, non-operating expenditures to be funded from onetime revenues or the undesignated fund balance. The current year budget was adopted with approximately $2.2M appropriated for transfers out of the General Fund, with $190,000 considered one-time expenses for the purchase of vehicles and equipment.

As part of the mid-year budget, staff is recommending a change to the salary schedule to add a Senior Recreation Leader as a classification. While this will not require additional budget, it will allow for the staffing of events appropriately as well as help us with our teen center opening next school year. In addition to the new title staff is also recommends allowing for either seasonal positions or on-going more long term part-time positions.

Staff is recommending adjustments related to the increase in Property Taxes, Property Tax in Lieu and Interest as well as the decrease to Interfund Charges Revenue and Sales Tax as it is anticipated to be lower than the original budget. Recommendations can be found on the chart below.

There are no proposed changes to expenditures in the general fund.

GENERAL FUND
205
General Fund Summary
Overall, the proposed General Fund Operating Budget remains balanced without relying on one-time revenues. This reflects the Council’s continuing commitment to operating conservatively. The estimated net revenue over expenditures at year end is $1,096,420. 206
Potential funding deficits in the Capital Projects and Impact Fee Funds are included in the Mid-Year Budget review. These funds rely heavily on development and building permits for revenue. With the slowing in development and building last fiscal year and continuing through this fiscal year, these funds have fallen short of the anticipated revenue. This has created the potential for a negative fund balance in certain funds as anticipated revenue was allocated towards capital improvement projects.

The Traffic Impact Fee and Park Impact Fee Funds are largely impacted with a potential shortfall of $2.5 million combined. Staff has identified projects that may have to be placed on hold while we wait for development to pick up. Staff believes development will pick up again in late 2023/2024 or early 2024/2025. Staff recommends waiting until May to determine if any funding of capital projects needs to be updated or eliminated. This will give some time to see what will happen with development towards the end of the fiscal year. Should we need to un-fund projects for the time being, staff will bring specific projects to Council before the adoption of the fiscal year 2024/2025 budget.

The Storm Water Fund is anticipated to end the year in a deficit. Staff is cutting costs where we can to keep the deficit to a minimum, but this is a fund we will need to keep an eye on in the future. With numerous state mandates surrounding storm water, the revenue received is never enough to pay the expenditures. Staff anticipates needing approximately $250,000 at year end to balance the fund and the only funding source would be general fund. Staff will bring this back in May during our budget study session with recommendations. Staff continues to look into other revenue sources and will bring all options to Council before the adoption of the fiscal year 2024/2025 budget.

Two Lighting and Landscaping Assessment District (LLAD) funds continue to have expenditures exceed revenues. These have received General Fund “advances” in the past and will likely need this again in the current year to keep the fund in balance. This was planned for in the current year budget and included in the budget transfers. During the fiscal year 2024/2025 budget session, staff will discuss the “advance” and the pay back plan versus a general fund transfer to cover the amount the fund is unable to cover.

The Capital Improvement Program (CIP) remains very active this fiscal year with several projects nearing completion. Included in the ARPA Update is an increase to the following:

CIP 215 Downtown Parking Lot Project $150,000
Add funding to pave Main Street from Vintage Parkway to Norcross Ln.

CIP 280 Laurel Road Widening Project $550,000
Add funding for the purchase of right away property for the install of the WAPA utility lines.

OTHER FUNDS
Capital Project Update
207
The funding for both items is recommended to come from ARPA funding and discussed further below as part of the the ARPA update.

The budget policies allow for any unspent budgeted capital amounts to be rolled forward to simplify the accounting process. It is anticipated that any unspent funds on active projects will be rolled forward into the 2024/2025 Budget.

As we continue to allocate and spend the funding provided by the American Rescue Plan Act (ARPA), it is important that we keep the timeline at the forefront.

All funding must be allocated by December 31, 2024 and must be spent by December 31, 2026.

To date a total of $7,517,843 has been allocated by Council to specific projects or expenditures, leaving $2,659,347 available for future allocation. As of December 31, 2023, $1,587,367.77 has been spent.

Staff has identified a few items that have funding allocated, but will most likely not be spent and therefore suggest re-allocating this funding to other items.

ARPA Funding Update
ARPA Funding Summary
208
The items identified in the table above in red will not require all funding that was initially anticipated.

Staff is recommending to re-allocate some of these funds to other items. These items are listed below.

COVID Expenses Un-allocate $219,533
CIP 285 Design-Bethel Island Rd. Un-allocate $378,503
Software/Technology Un-allocate $472,617
CIP 215 Downtown Parking Lot Allocate $150,000
CIP 280 Laurel Rd. Widening Allocate $550,000
Equipment - Scissor Lift Allocate $20,000
Teen/Recreation Center Allocate $10,000
Library Allocate $3,000,000
As mentioned in the CIP summary, two projects need additional funding. CIP 215 has funding to cover the construction of a new parking lot and roadway infrastructure next to the Entrepreneur Building. The resurfacing of Main Street from Vintage Parkway to Norcross Lane will be added to CIP 215 which is along the frontage of this project and is the last phase of this project towards its completion.

The construction of CIP 280 Laurel Road Widening, is anticipated to start later this fall. In preparation of this construction project and while the design is underway, the City needs to purchase the right of way needed for the project not only for the roadway construction but also for the relocation of WAPA utility lines. The requested funding will pay for the purchase of the right of way to avoid delays in the project schedule.

Recreation and Public Works have the need for a scissor lift to reach high ceilings as well as trees, banners, roofs, etc. In the past we have rented the equipment when it was needed or used extension ladders for the high to reach places. Not only will this provide a means for staff to reach tall ceilings, trees, banners, roofs, etc., it provides a safer alternative in doing so.

As Recreation prepares to revamp the after school program into a teen center for the 2024/2025 school year, we will need to purchase some furniture and equipment as well as freshen up the room which could include paint, carpet, etc. Staff is requesting $10,000 as a start to see if we can make the program a viable program.

As mentioned earlier this year during an update on the Library, it was recommended to allocate ARPA funding to the project. Staff is recommending $3 million as one of the funding sources for the project.

With this allocation,100% of the ARPA funding will have been allocated to specific expenditures or projects.
209
General Fund Summary
Staff recommends the Council authorize the appropriation adjustments necessary at a line-item level to adjust the General Fund budgeted revenues by a net increase of $911,685, as follows:

Un-Allocate ARPA funding for COVID Expenses of $219,533 Un-Allocate ARPA funding for CIP 285 Bethel Island Rd. of $378,503 Un-Allocate ARPA funding for Software/Technology of $472,617 Allocate ARPA funding for CIP 215 Downtown Parking Lot of $150,000 Allocate ARPA funding for CIP 280 Laurel Rd. Widening of $550,000 Allocate ARPA funding for Equipment-Scissor Lift of $20,000 Allocate ARPA funding for Teen/Recreation Center of $10,000 Allocate ARPA Funding for the Library Project of $3,000,000 Staff will continue to monitor and consider the impact of the slowing in the development community for the current year budget as well as the upcoming budget for Fiscal Year 2024/2025. As always, the projections in the near term are more meaningful, but extending the analysis into our ten-year plan will allow for evaluation of the long-term effects of decisions being made today.

As of of this mid-year analysis, the Fiscal Year 2023/2024 budget performance is mostly positive, with a few funds that we will continue to monitor and bring back to Council with an update prior to year-end.

Summary of Staff Recommendations
Looking Forward
210
As part of Council direction in prior years, at least $2 million will continue to be budgeted each year for roadway maintenance with an escalation of 4% to ensure our roadways continue to be at the forefront. Staff will be sure to include this in the FY 2024/2025 budget discussion.

The mid-year review confirms that if we remain disciplined, as the Council has directed and as incorporated into the City’s Financial Policies, the City operations are and can remain balanced over time. The projections presented here show increased revenue estimates from one time revenues on the sale of property with revenues continuing to exceed expenditures.

The City remains subject to significant external factors in managing costs and revenue and we continue to recommend proceeding carefully with any changes to ongoing expenditures without identifying ongoing revenue for such expense.

As a reminder, the City currently has a 30% general fund reserve in place as part of our financial policies. Staff continues to monitor whether these reserves are sufficient to get us through any kind of economic downtown or emergency as well as ensuring they are not excessive. Staff is currently going through a reserve risk assessment test, provided by the Government Officers Finance Association (GFOA), that will help us to assess our risk and staff will bring the results to Council during our budget study session in May.

The included All Funds Summary provides an estimated year-end fund balance for every active fund. The items listed in the Summary of Staff Recommendations are taken into account in the all funds summary projected year-end balance.

All Funds Summary
211
Current
Adjusted Actual FYE
Fund Accounts Budget YTD Projection
100 General Fund Available Fund Balance 06/30/23 8,443,357 Revenues 30,476,146 13,858,090 31,380,000
Expenditures 30,291,411 17,021,547 30,291,411
Revenues over (under) Expenditures 184,735 (3,163,458) 1,088,589 Est Fund Balance 06/30/24 9,531,946
110 Cypress Grove (CFD #1) Available Fund Balance 06/30/23 2,376,846 Revenues 356,669 215,285 356,669
Expenditures 298,567 66,250 298,567
Revenues over (under) Expenditures 58,102 149,036 58,102 Est Fund Balance 06/30/24 2,434,948
115 Oakely Creekside Park Restoration Available Fund Balance 06/30/23 (6,996) Revenues 41,403 61,034 132,328
Expenditures 125,332 100,050 125,332
Revenues over (under) Expenditures (83,929) (39,016) 6,996 Est Fund Balance 06/30/24 0
120 American Rescur Plan Act (ARPA) Available Fund Balance 06/30/23 9,115,920 Revenues 0 85,090 0
Expenditures 5,907,788 1,793,328 5,907,788
Revenues over (under) Expenditures (5,907,788) (1,708,238) (5,907,788) Est Fund Balance 06/30/24 3,208,132
132 Parks Landscaping Assessment - (LLAD Zone 1) Available Fund Balance 06/30/23 4,748,993 Revenues 2,311,290 1,326,177 2,311,290
Expenditures 2,351,280 1,166,610 2,351,280
Revenues over (under) Expenditures (39,990) 159,567 (39,990) Est Fund Balance 06/30/24 4,709,003
133 Lighting Assessment Dist - (LLAD Zone 2) Available Fund Balance 06/30/23 190,682 Revenues 446,816 313,646 446,816
Expenditures 507,532 182,553 507,532
Revenues over (under) Expenditures (60,716) 131,093 (60,716) Est Fund Balance 06/30/24 129,966
134 CC Logistics Center (CFD 2020-1) Available Fund Balance 06/30/23 49,859 Revenues 38,443 23,225 38,443
Expenditures 45,679 24,574 45,679
Revenues over (under) Expenditures (7,236) (1,348) (7,236) Est Fund Balance 06/30/24 42,624
136 Ag Conservation Available Fund Balance 06/30/23 7,350 Revenues 0 70 0
Expenditures 0 0 0
Revenues over (under) Expenditures 0 70 0
Est Fund Balance 06/30/24 7,350
138 Downtown Revitalization Available Fund Balance 06/30/23 275,218 Revenues 251,226 172,717 251,226
Expenditures 171,799 119,373 171,799
Revenues over (under) Expenditures 79,427 53,343 79,427 Est Fund Balance 06/30/24 354,645
Fund Summary
Mid-Year Budget Review
Fiscal Year 2023/2024
page 1 of 10
212
Current
Adjusted Actual FYE
Fund Accounts Budget YTD Projection
Fund Summary
Mid-Year Budget Review
Fiscal Year 2023/2024
140 Gas Tax Available Fund Balance 06/30/23 1,018,666
Revenues 1,269,106 660,070 1,269,106
Expenditures 1,730,629 433,995 1,730,629
Revenues over (under) Expenditures (461,523) 226,075 (461,523) Est Fund Balance 06/30/24 557,144
141 Gas Tax-RMRA SB1 Available Fund Balance 06/30/23 1,150,801 Revenues 1,100,866 466,354 1,100,866
Expenditures 2,125,618 637,518 2,125,618
Revenues over (under) Expenditures (1,024,752) (171,164) (1,024,752) Est Fund Balance 06/30/24 126,049
145 Stormwater NPDES Available Fund Balance 06/30/23 (77,685) Revenues 563,310 14,314 563,310
Expenditures 1,041,479 495,440 750,000
Revenues over (under) Expenditures (478,169) (481,126) (186,690) Est Fund Balance 06/30/24 (264,375)
148 Measure J Available Fund Balance 06/30/23 2,143,874 Revenues 1,009,555 33,756 1,009,555
Expenditures 2,959,315 2,214,984 2,959,315
Revenues over (under) Expenditures (1,949,760) (2,181,228) (1,949,760) Est Fund Balance 06/30/24 194,114
150 Police P-6 Assessment District Available Fund Balance 06/30/23 0 Revenues 7,250,000 4,250,461 7,250,000
Expenditures 7,250,000 4,250,461 7,250,000
Revenues over (under) Expenditures 0 0 0
Est Fund Balance 06/30/24 0
151 Supplemental Law Enforcement (SLEF) Available Fund Balance 06/30/23 0 Revenues 165,700 150,332 165,700
Expenditures 165,700 150,332 165,700
Revenues over (under) Expenditures 0 0 0
Est Fund Balance 06/30/24 0
152 OTS Police Grants Available Fund Balance 06/30/23 0 Revenues 24,800 0 24,800
Expenditures 24,800 0 24,800
Revenues over (under) Expenditures 0 0 0
Est Fund Balance 06/30/24 0
153 Opioid Remediation (J&D) Available Fund Balance 06/30/23 0 Revenues 13,637 5,919 13,637
Expenditures 18,000 0 13,637
Revenues over (under) Expenditures (4,363) 5,919 0
Est Fund Balance 06/30/24 0
154 Officer Wellness & Mental Health Grant Available Fund Balance 06/30/23 0 Revenues 28,000 265 28,000
Expenditures 28,000 0 28,000
Revenues over (under) Expenditures 0 265 0
Est Fund Balance 06/30/24 0
page 2 of 10
213
Current
Adjusted Actual FYE
Fund Accounts Budget YTD Projection
Fund Summary
Mid-Year Budget Review
Fiscal Year 2023/2024
155 Asset Seizure Available Fund Balance 06/30/23 4,492 Revenues 0 0 0
Expenditures 0 0 0
Revenues over (under) Expenditures 0 0 0
Est Fund Balance 06/30/24 4,492
168 Sports Field Maintenance Available Fund Balance 06/30/23 231,584 Revenues 50,350 28,583 50,350
Expenditures 25,700 13,218 25,700
Revenues over (under) Expenditures 24,650 15,365 24,650 Est Fund Balance 06/30/24 256,234
170 Vintage Parkway (LLAD Zone 3-1) Available Fund Balance 06/30/23 222,835 Revenues 79,272 45,178 79,272
Expenditures 128,862 56,174 128,862
Revenues over (under) Expenditures (49,590) (10,995) (49,590) Est Fund Balance 06/30/24 173,245
171 Oakley Ranch (LLAD Zone 3-2) Available Fund Balance 06/30/23 23,436 Revenues 26,546 14,748 26,546
Expenditures 37,854 27,908 37,854
Revenues over (under) Expenditures (11,308) (13,160) (11,308) Est Fund Balance 06/30/24 12,128
172 Empire (LLAD Zone 3-3) Available Fund Balance 06/30/23 87,413 Revenues 4,735 3,320 4,735
Expenditures 26,421 2,832 26,421
Revenues over (under) Expenditures (21,686) 488 (21,686) Est Fund Balance 06/30/24 65,727
173 Oakley Town Center (LLAD Zone 3-4) Available Fund Balance 06/30/23 89,696 Revenues 11,535 6,842 11,535
Expenditures 33,560 6,361 33,560
Revenues over (under) Expenditures (22,025) 481 (22,025) Est Fund Balance 06/30/24 67,671
174 Oak Grove (LLAD Zone 3-5) Available Fund Balance 06/30/23 95,471 Revenues 28,605 16,524 28,605
Expenditures 51,214 17,184 51,214
Revenues over (under) Expenditures (22,609) (660) (22,609) Est Fund Balance 06/30/24 72,862
175 Laurel Woods/Luna Estates (LLAD Zone 3-6) Available Fund Balance 06/30/23 101,173 Revenues 7,868 5,174 7,868
Expenditures 32,089 5,260 32,089
Revenues over (under) Expenditures (24,221) (86) (24,221) Est Fund Balance 06/30/24 76,952
176 South Forty (LLAD Zone 3-7) Available Fund Balance 06/30/23 54,214 Revenues 9,905 5,899 9,905
Expenditures 22,533 9,508 22,533
Revenues over (under) Expenditures (12,628) (3,609) (12,628) Est Fund Balance 06/30/24 41,586
page 3 of 10
214
Current
Adjusted Actual FYE
Fund Accounts Budget YTD Projection
Fund Summary
Mid-Year Budget Review
Fiscal Year 2023/2024
177 Claremont (LLAD Zone 3-8) Available Fund Balance 06/30/23 7,212 Revenues 7,728 4,259 7,728
Expenditures 14,208 10,240 14,208
Revenues over (under) Expenditures (6,480) (5,981) (6,480) Est Fund Balance 06/30/24 732
178 Gateway (LLAD Zone 3-9) Available Fund Balance 06/30/23 184,768 Revenues 18,610 11,845 18,610
Expenditures 67,728 16,251 67,728
Revenues over (under) Expenditures (49,118) (4,406) (49,118) Est Fund Balance 06/30/24 135,650
179 Countryside-Village Green (LLAD Zone 3-10) Available Fund Balance 06/30/23 26,263 Revenues 2,875 2,618 2,875
Expenditures 10,084 1,433 10,084
Revenues over (under) Expenditures (7,209) 1,185 (7,209) Est Fund Balance 06/30/24 19,054
180 Country Fair-Meadow Glen (LLAD Zone 3-11) Available Fund Balance 06/30/23 (2,441) Revenues 11,304 5,904 11,304
Expenditures 8,800 6,067 8,800
Revenues over (under) Expenditures 2,504 (162) 2,504
Est Fund Balance 06/30/24 63
181 California Sunrise (LLAD Zone 3-12) Available Fund Balance 06/30/23 78,205 Revenues 3,702 2,666 3,702
Expenditures 22,536 1,208 22,536
Revenues over (under) Expenditures (18,834) 1,459 (18,834) Est Fund Balance 06/30/24 59,371
182 California Visions-Laurel (LLAD Zone 3-13) Available Fund Balance 06/30/23 168,156 Revenues 12,250 8,192 12,250
Expenditures 52,416 3,360 52,416
Revenues over (under) Expenditures (40,166) 4,831 (40,166) Est Fund Balance 06/30/24 127,990
183 Claremont Heritage (LLAD Zone 3-14) Available Fund Balance 06/30/23 244,242 Revenues 18,540 12,343 18,540
Expenditures 75,854 7,414 75,854
Revenues over (under) Expenditures (57,314) 4,929 (57,314) Est Fund Balance 06/30/24 186,928
184 Country Fair-Meadow Glen II (LLAD Zone 3-15) Available Fund Balance 06/30/23 217,658 Revenues 122,844 69,468 122,844
Expenditures 176,031 104,728 176,031
Revenues over (under) Expenditures (53,187) (35,260) (53,187) Est Fund Balance 06/30/24 164,471
185 Sundance (LLAD Zone 3-16) Available Fund Balance 06/30/23 15,066 Revenues 9,010 5,040 9,010
Expenditures 13,243 8,323 13,243
Revenues over (under) Expenditures (4,233) (3,283) (4,233) Est Fund Balance 06/30/24 10,833
page 4 of 10
215
Current
Adjusted Actual FYE
Fund Accounts Budget YTD Projection
Fund Summary
Mid-Year Budget Review
Fiscal Year 2023/2024
186 CA Jamboree-Laurel Anne (LLAD Zone 3-17) Available Fund Balance 06/30/23 423,538 Revenues 118,184 67,279 118,184
Expenditures 218,184 90,161 218,184
Revenues over (under) Expenditures (100,000) (22,882) (100,000) Est Fund Balance 06/30/24 323,538
187 Country Place (LLAD Zone 3-18) Available Fund Balance 06/30/23 (82,588) * Revenues 63,400 32,870 63,400
Expenditures 44,201 39,957 44,201
Revenues over (under) Expenditures 19,199 (7,087) 19,199 * Est Fund Balance 06/30/24 (63,389)
* From General Fund Loan
188 Laurel Crest (LLAD Zone 3-19) Available Fund Balance 06/30/23 91,102 Revenues 177,800 94,109 177,800
Expenditures 199,810 149,913 199,810
Revenues over (under) Expenditures (22,010) (55,804) (22,010) Est Fund Balance 06/30/24 69,092
189 Marsh Creek Glen (LLAD Zone 3-20) Available Fund Balance 06/30/23 466,812 Revenues 114,801 67,330 114,801
Expenditures 409,647 55,805 409,647
Revenues over (under) Expenditures (294,846) 11,525 (294,846) Est Fund Balance 06/30/24 171,966
190 Quail Glen (LLAD Zone 3-21) Available Fund Balance 06/30/23 120,317 Revenues 37,635 21,580 37,635
Expenditures 66,310 36,514 66,310
Revenues over (under) Expenditures (28,675) (14,935) (28,675) Est Fund Balance 06/30/24 91,642
191 Cypress Grove (LLAD Zone 3-22) Available Fund Balance 06/30/23 559,345 Revenues 337,930 190,026 337,930
Expenditures 587,547 210,656 587,547
Revenues over (under) Expenditures (249,617) (20,630) (249,617) Est Fund Balance 06/30/24 309,728
192 South Oakley (LLAD Zone 3-23) Available Fund Balance 06/30/23 558,740 Revenues 496,657 284,524 496,657
Expenditures 557,420 308,944 557,420
Revenues over (under) Expenditures (60,763) (24,420) (60,763) Est Fund Balance 06/30/24 497,978
193 Stone Creek (LLAD Zone 3-24) Available Fund Balance 06/30/23 455,524 Revenues 78,216 47,150 78,216
Expenditures 167,197 20,316 167,197
Revenues over (under) Expenditures (88,981) 26,833 (88,981) Est Fund Balance 06/30/24 366,543
194 Magnolia Park (LLAD Zone 3-25) Available Fund Balance 06/30/23 2,438,773 Revenues 996,320 569,076 996,320
Expenditures 1,216,436 511,359 1,216,436
Revenues over (under) Expenditures (220,116) 57,717 (220,116) Est Fund Balance 06/30/24 2,218,657
page 5 of 10
216
Current
Adjusted Actual FYE
Fund Accounts Budget YTD Projection
Fund Summary
Mid-Year Budget Review
Fiscal Year 2023/2024
195 Summer Lake (LLAD Zone 3-26) Available Fund Balance 06/30/23 1,376,323 Revenues 610,285 346,151 610,285
Expenditures 658,070 352,638 658,070
Revenues over (under) Expenditures (47,785) (6,486) (47,785) Est Fund Balance 06/30/24 1,328,538
201 General Capital Projects Available Fund Balance 06/30/23 6,341,976 Revenues 2,159,376 1,184,508 2,159,376
Expenditures 8,277,435 3,270,396 8,277,435
Revenues over (under) Expenditures (6,118,059) (2,085,887) (6,118,059) Est Fund Balance 06/30/24 223,917
202 Traffic Impact Fee Available Fund Balance 06/30/23 11,620,182 Revenues 1,815,396 883,554 1,640,000
Expenditures 14,619,379 9,731,435 14,619,379
Revenues over (under) Expenditures (12,803,983) (8,847,880) (12,979,379) Est Fund Balance 06/30/24 (1,359,197)
204 Park Impact Fee Available Fund Balance 06/30/23 6,023,564 Revenues 1,273,657 97,512 500,000
Expenditures 7,756,412 696,790 7,756,412
Revenues over (under) Expenditures (6,482,755) (599,278) (7,256,412) Est Fund Balance 06/30/24 (1,232,848)
206 Public Facilities Impact Fee Available Fund Balance 06/30/23 2,896,232 Revenues 469,917 220,519 415,000
Expenditures 1,138,220 800,342 1,138,220
Revenues over (under) Expenditures (668,303) (579,823) (723,220) Est Fund Balance 06/30/24 2,173,012
208 Fire Impact Fee Available Fund Balance 06/30/23 0
Revenues 0 0 0
Expenditures 0 0 0
Revenues over (under) Expenditures 0 0 0
Est Fund Balance 06/30/24 0
221 2012 Refunding Assessment Bond CIP Available Fund Balance 06/30/23 59,740 Revenues 0 1,424 0
Expenditures 0 0 0
Revenues over (under) Expenditures 0 1,424 0
Est Fund Balance 06/30/24 59,740
222 2014 Refunding Assessment Bond CIP Available Fund Balance 06/30/23 667,732 Revenues 0 7,402 0
Expenditures 0 0 0
Revenues over (under) Expenditures 0 7,402 0
Est Fund Balance 06/30/24 667,732
231 Main Street Available Fund Balance 06/30/23 475,658 Revenues 0 0 0
Expenditures 483,057 101,869 475,658
Revenues over (under) Expenditures (483,057) (101,869) (475,658) Est Fund Balance 06/30/24 0
page 6 of 10
217
Current
Adjusted Actual FYE
Fund Accounts Budget YTD Projection
Fund Summary
Mid-Year Budget Review
Fiscal Year 2023/2024
232 Regional Parks (CFD) Available Fund Balance 06/30/23 2,115,665 Revenues 348,000 209,883 348,000
Expenditures 21,134 2,777 21,134
Revenues over (under) Expenditures 326,866 207,106 326,866 Est Fund Balance 06/30/24 2,442,531
235 Street Maintenance Reserve Available Fund Balance 06/30/23 5,430,397 Revenues 0 0 0
Expenditures 5,217,608 2,948,306 5,217,608
Revenues over (under) Expenditures (5,217,608) (2,948,306) (5,217,608) Est Fund Balance 06/30/24 212,789
301 Developer Deposits Available Fund Balance 06/30/23 (68) Revenues 1,200,000 579,465 1,200,000
Expenditures 1,200,000 1,199,932
Revenues over (under) Expenditures 0 579,465 68
Est Fund Balance 06/30/24 0
* Revenues are earned as deposits are spent.
351 Debt Service Available Fund Balance 06/30/23 40,542 Revenues 676,779 339,554 676,779
Expenditures 711,779 6,251 711,779
Revenues over (under) Expenditures (35,000) 333,303 (35,000) Est Fund Balance 06/30/24 5,542
403 Stormwater Citywide (CFD) Available Fund Balance 06/30/23 23,088 Revenues 14,101 15,569 14,101
Expenditures 7,021 1,185 7,021
Revenues over (under) Expenditures 7,080 14,383 7,080
Est Fund Balance 06/30/24 30,168
404 Fire Protection (CFD 2018-1) Available Fund Balance 06/30/23 (12,522) Revenues 300,000 185,766 300,000
Expenditures 248,256 4,416 287,479
Revenues over (under) Expenditures 51,744 181,350 12,522 Est Fund Balance 06/30/24 0
405 Emerson Ranch Parks/St. Lighting (CFD 2015-1) Available Fund Balance 06/30/23 795,939 Revenues 225,595 144,613 225,595
Expenditures 325,595 108,730 325,595
Revenues over (under) Expenditures (100,000) 35,883 (100,000) Est Fund Balance 06/30/24 695,939
406 Emerson Ranch Neighborhood (CFD 2015-1) Available Fund Balance 06/30/23 646,199 Revenues 216,427 137,758 216,427
Expenditures 316,427 76,929 316,427
Revenues over (under) Expenditures (100,000) 60,829 (100,000) Est Fund Balance 06/30/24 546,199
407 Emerson Ranch Storm Water (CFD 2015-1) Available Fund Balance 06/30/23 910,887 Revenues 315,305 200,414 315,305
Expenditures 415,305 264,645 415,305
Revenues over (under) Expenditures (100,000) (64,231) (100,000) Est Fund Balance 06/30/24 810,887
page 7 of 10
218
Current
Adjusted Actual FYE
Fund Accounts Budget YTD Projection
Fund Summary
Mid-Year Budget Review
Fiscal Year 2023/2024
408 Prescott Landscaping (CFD 2015-2 Zone 1) Available Fund Balance 06/30/23 35,835 Revenues 21,462 12,667 21,462
Expenditures 29,261 17,284 29,261
Revenues over (under) Expenditures (7,799) (4,617) (7,799) Est Fund Balance 06/30/24 28,036
409 Prescott Stormwater (CFD 2015-2 Zone 1) Available Fund Balance 06/30/23 86,922 Revenues 26,666 14,196 26,666
Expenditures 43,016 2,985 43,016
Revenues over (under) Expenditures (16,350) 11,210 (16,350) Est Fund Balance 06/30/24 70,572
410 Doyle Rd Landscaping (CFD 2015-2 Zone 2) Available Fund Balance 06/30/23 365 Revenues 1,009 719 1,009
Expenditures 1,545 939 1,374
Revenues over (under) Expenditures (536) (220) (365)
Est Fund Balance 06/30/24 0
411 Bella Estates Landscaping (CFD 2015-2 Zone 3) Available Fund Balance 06/30/23 (467) Revenues 1,429 825 1,472
Expenditures 1,005 939 1,005
Revenues over (under) Expenditures 424 (114) 467
Est Fund Balance 06/30/24 (0)
412 Quicksilver Landscaping (CFD 2015-2 Zone 4) Available Fund Balance 06/30/23 (338) Revenues 1,099 635 1,838
Expenditures 1,105 1,144 1,500
Revenues over (under) Expenditures (6) (510) 338
Est Fund Balance 06/30/24 (0)
413 7-11/Self Storage Landscaping (CFD 2015-2 Zone 5) Available Fund Balance 06/30/23 962 Revenues 1,335 777 1,335
Expenditures 1,667 1,299 1,667
Revenues over (under) Expenditures (332) (522) (332)
Est Fund Balance 06/30/24 631
414 Aspen Place Landscaping (CFD 2015-2 Zone 6) Available Fund Balance 06/30/23 9,832 Revenues 7,793 4,590 7,793
Expenditures 11,964 7,856 11,964
Revenues over (under) Expenditures (4,171) (3,266) (4,171) Est Fund Balance 06/30/24 5,661
415 Aspen Lane Landscaping (CFD 2015-2 Zone 7) Available Fund Balance 06/30/23 32,784 Revenues 12,936 7,777 12,936
Expenditures 20,118 6,551 20,118
Revenues over (under) Expenditures (7,182) 1,225 (7,182) Est Fund Balance 06/30/24 25,602
416 Duarte Ranch Landscaping (CFD 2015-2 Zone 8) Available Fund Balance 06/30/23 49,373 Revenues 65,873 38,422 65,873
Expenditures 82,881 57,249 82,881
Revenues over (under) Expenditures (17,008) (18,827) (17,008) Est Fund Balance 06/30/24 32,366
page 8 of 10
219
Current
Adjusted Actual FYE
Fund Accounts Budget YTD Projection
Fund Summary
Mid-Year Budget Review
Fiscal Year 2023/2024
417 Duarte Ranch Stormwater (CFD 2015-2 Zone 8) Available Fund Balance 06/30/23 87,525 Revenues 23,259 177,212 23,259
Expenditures 39,078 15,467 39,078
Revenues over (under) Expenditures (15,819) 161,745 (15,819) Est Fund Balance 06/30/24 71,707
418 Nature Properties Landscaping (CFD 2015-2 Zone 10) Available Fund Balance 06/30/23 13,288 Revenues 5,349 3,211 5,349
Expenditures 8,631 1,970 8,631
Revenues over (under) Expenditures (3,282) 1,241 (3,282) Est Fund Balance 06/30/24 10,006
419 Chevron Laurel/O'Hara Landscaping (CFD 2015-2 Zone 12) Available Fund Balance 06/30/23 7,693 Revenues 3,021 1,814 3,021
Expenditures 4,714 1,351 4,714
Revenues over (under) Expenditures (1,693) 463 (1,693)
Est Fund Balance 06/30/24 6,000
421 Gilbert Property Landscaping (CFD 2015-2 Zone 14) Available Fund Balance 06/30/23 495,746 Revenues 549,860 320,999 549,860
Expenditures 635,262 246,570 635,262
Revenues over (under) Expenditures (85,402) 74,429 (85,402) Est Fund Balance 06/30/24 410,344
422 Gilbert Property Stormwater (CFD 2015-2 Zone 14) Available Fund Balance 06/30/23 270,166 Revenues 306,323 10,320 306,323
Expenditures 357,547 187,188 357,547
Revenues over (under) Expenditures (51,224) (176,868) (51,224) Est Fund Balance 06/30/24 218,942
430 Vintner view (CFD 2015-2)ZN29 Available Fund Balance 06/30/23 3,866 Revenues 4,879 2,852 4,879
Expenditures 1,894 4 1,894
Revenues over (under) Expenditures 2,986 2,848 2,986
Est Fund Balance 06/30/24 6,852
433 Reclamation Dirstric 799 (CFD 2022-2) Available Fund Balance 06/30/23 0 Revenues 0 233,112 233,112
Expenditures 0 3,630 3,630
Revenues over (under) Expenditures 0 229,482 229,482
Est Fund Balance 06/30/24 229,482
434 Brownstone (CFD 2015-2) Z31 Available Fund Balance 06/30/23 0 Revenues 0 5,818 5,818
Expenditures 0 8 8
Revenues over (under) Expenditures 0 5,810 5,810
Est Fund Balance 06/30/24 5,810
501 Vehicle and Equipment Replacement Available Fund Balance 06/30/23 1,388,784 Revenues 697,176 349,406 697,176
Expenditures 764,370 498,654 764,370
Revenues over (under) Expenditures (67,194) (149,248) (67,194) Est Fund Balance 06/30/24 1,321,590
page 9 of 10
220
Current
Adjusted Actual FYE
Fund Accounts Budget YTD Projection
Fund Summary
Mid-Year Budget Review
Fiscal Year 2023/2024
502 Capital Facilities Maintenance & Replacement Available Fund Balance 06/30/23 692,666 Revenues 0 6,379 0
Expenditures 421,348 58,014 421,348
Revenues over (under) Expenditures (421,348) (51,635) (421,348) Est Fund Balance 06/30/24 271,318
503 Technology Internal Service Fund Available Fund Balance 06/30/23 466,767 Revenues 190,000 97,540 190,000
Expenditures 190,000 6,092 190,000
Revenues over (under) Expenditures 0 91,448 0
Est Fund Balance 06/30/24 466,767
621 2012 Refunding Assessment Bond Debt Service Available Fund Balance 06/30/23 669,766 Revenues 1,167,889 670,203 1,167,889
Expenditures 926,630 840,554 926,630
Revenues over (under) Expenditures 241,259 (170,351) 241,259 Est Fund Balance 06/30/24 911,025
622 2014 Refunding Assessment Bond Debt Service Available Fund Balance 06/30/23 636,681 Revenues 746,740 431,052 746,740
Expenditures 649,631 514,225 649,631
Revenues over (under) Expenditures 97,109 (83,173) 97,109 Est Fund Balance 06/30/24 733,790
767 Tax Increment Housing Available Fund Balance 06/30/23 (821,149) * Revenues 10,000 1,320 10,000
Expenditures 10,000 0 10,000
Revenues over (under) Expenditures 0 1,320 0
Est Fund Balance 06/30/24 (821,149)
*Advances from other funds
page 10 of 10
221
FY 2024/2025 BUDGET SCHEDULE
DATE

JANUARY

DESCRIPTION
01/12/2024 Budget Schedule Distributed

FEBRUARY
23/24 Mid-Year Review with Council
Budget Kickoff with Staff (10am-12pm)
03/08/2024 Personnel, Vehicle & Equip and Large
Purchase request forms due to Finance
CIP Forms Due to Public Works
MARCH
Operating Budgets Due in Eden
02/13/2024
02/20/2024
03/08/2024
APRIL
Week of April 1
Department Review Meetings with
Finance and the City Manager
04/08/2024 Finalize General Fund Budget
04/15/2024
Department Accomplishments, Goals &
Performance Measures Due to Finance
04/18/2024 CM Review of Accomplishments, Goals
& Performance Measures
Week of April 22 Finance & CM Final Review of Proposed
Budget
MAY
05/06/2024 Draft Proposed Budget Document
Distribution
05/14/2024 Budget Work Session with Council
05/27/2024 Final Proposed Budget Document
Distribution
JUNE 06/11/2024 Anticipated Budget Adoption
This is a tentative schedule. Any changes will be distributed. 03/22/2024
222
Position Unit Hourly/Salary Frequency Step AA Step A Step B Step C Step D Step E Step F Accountant UNREP S Hourly $ 44.27 $ 46.48 $ 48.81 $ 51.25 $ 53.81 Bi-Weekly $ 3,541.55 $ 3,718.62 $ 3,904.55 $ 4,099.78 $ 4,304.77 Monthly $ 7,673.35 $ 8,057.02 $ 8,459.87 $ 8,882.86 $ 9,327.00 Annually $ 92,080.20 $ 96,684.21 $ 101,518.42 $ 106,594.34 $ 111,924.06 Accounting Technician UNREP H Hourly $ 33.31 $ 34.97 $ 36.72 $ 38.56 $ 40.49 Bi-Weekly $ 2,664.60 $ 2,797.83 $ 2,937.73 $ 3,084.61 $ 3,238.84 Monthly $ 5,773.31 $ 6,061.98 $ 6,365.07 $ 6,683.33 $ 7,017.49 Annually $ 69,279.72 $ 72,743.71 $ 76,380.89 $ 80,199.94 $ 84,209.93 Administrative Assistant UNREP H Hourly $ 29.69 $ 31.17 $ 32.73 $ 34.37 $ 36.08 Bi-Weekly $ 2,374.95 $ 2,493.70 $ 2,618.39 $ 2,749.31 $ 2,886.77 Monthly $ 5,145.74 $ 5,403.02 $ 5,673.17 $ 5,956.83 $ 6,254.67 Annually $ 61,748.83 $ 64,836.27 $ 68,078.08 $ 71,481.99 $ 75,056.09 Administrative Services Director UNREP S Hourly $ 89.02 $ 93.47 $ 98.14 $ 103.05 $ 108.20 Bi-Weekly $ 7,121.23 $ 7,477.29 $ 7,851.16 $ 8,243.71 $ 8,655.90 Monthly $ 15,429.33 $ 16,200.80 $ 17,010.84 $ 17,861.38 $ 18,754.45 Annually $ 185,151.96 $ 194,409.56 $ 204,130.04 $ 214,336.54 $ 225,053.36 Administrative Supervisor UNREP S Hourly $ 37.42 $ 39.29 $ 41.26 $ 43.32 $ 45.48 Bi-Weekly $ 2,993.64 $ 3,143.32 $ 3,300.48 $ 3,465.51 $ 3,638.78 Monthly $ 6,486.21 $ 6,810.52 $ 7,151.05 $ 7,508.60 $ 7,884.03 Annually $ 77,834.52 $ 81,726.25 $ 85,812.56 $ 90,103.19 $ 94,608.35 Administrative Technician UNREP H Hourly $ 31.58 $ 33.16 $ 34.81 $ 36.55 $ 38.38 Bi-Weekly $ 2,526.12 $ 2,652.42 $ 2,785.04 $ 2,924.30 $ 3,070.51 Monthly $ 5,473.26 $ 5,746.92 $ 6,034.26 $ 6,335.98 $ 6,652.78 Annually $ 65,679.06 $ 68,963.02 $ 72,411.17 $ 76,031.72 $ 79,833.31 Assistant City Manager UNREP S Hourly $ 95.34 $ 100.10 $ 105.11 $ 110.36 $ 115.88 Bi-Weekly $ 7,626.86 $ 8,008.20 $ 8,408.61 $ 8,829.04 $ 9,270.49 Monthly $ 16,524.86 $ 17,351.10 $ 18,218.65 $ 19,129.59 $ 20,086.07 Annually $ 198,298.28 $ 208,213.19 $ 218,623.85 $ 229,555.04 $ 241,032.80 Assistant Engineer UNREP H Hourly $ 47.28 $ 49.64 $ 52.12 $ 54.73 $ 57.47 Bi-Weekly $ 3,782.28 $ 3,971.39 $ 4,169.96 $ 4,378.46 $ 4,597.38 Monthly $ 8,194.94 $ 8,604.69 $ 9,034.92 $ 9,486.67 $ 9,961.00 Annually $ 98,339.28 $ 103,256.24 $ 108,419.06 $ 113,840.01 $ 119,532.01 Assistant Recreation Coordinator UNREP H Hourly $ 30.54 $ 32.07 $ 33.67 $ 35.35 $ 37.12 Bi-Weekly $ 2,443.20 $ 2,565.36 $ 2,693.63 $ 2,828.31 $ 2,969.73 Monthly $ 5,293.61 $ 5,558.29 $ 5,836.21 $ 6,128.02 $ 6,434.42 Annually $ 63,523.32 $ 66,699.49 $ 70,034.46 $ 73,536.18 $ 77,212.99 Associate Engineer UNREP S Hourly $ 55.73 $ 58.51 $ 61.44 $ 64.51 $ 67.74 Bi-Weekly $ 4,458.07 $ 4,680.97 $ 4,915.02 $ 5,160.77 $ 5,418.81 Monthly $ 9,659.15 $ 10,142.11 $ 10,649.21 $ 11,181.67 $ 11,740.76 Annually $ 115,909.80 $ 121,705.29 $ 127,790.55 $ 134,180.08 $ 140,889.09 Associate Planner UNREP S Hourly $ 48.28 $ 50.69 $ 53.22 $ 55.89 $ 58.68 Bi-Weekly $ 3,862.11 $ 4,055.22 $ 4,257.98 $ 4,470.88 $ 4,694.42 Monthly $ 8,367.92 $ 8,786.31 $ 9,225.63 $ 9,686.91 $ 10,171.25 Annually $ 100,414.99 $ 105,435.74 $ 110,707.52 $ 116,242.90 $ 122,055.05 City of Oakley
Master Salary Schedule All
Positions
Effective February 13, 2024
223
Position Unit Hourly/Salary Frequency Step AA Step A Step B Step C Step D Step E Step F Building Inspector I UNREP H Hourly $ 38.74 $ 40.68 $ 42.71 $ 44.85 $ 47.09 Bi-Weekly $ 3,099.17 $ 3,254.13 $ 3,416.84 $ 3,587.68 $ 3,767.06 Monthly $ 6,714.87 $ 7,050.61 $ 7,403.14 $ 7,773.30 $ 8,161.96 Annually $ 80,578.42 $ 84,607.35 $ 88,837.71 $ 93,279.60 $ 97,943.58 Building Inspector I (Y-RATE) UNREP H Hourly $ 48.85 $ 51.68 Bi-Weekly $ - $ - $ - $ 3,908.23 $ 4,134.01
Monthly $ - $ - $ - $ 8,467.84 $ 8,957.02
Annually $ - $ - $ - $ 101,614.03 $ 107,484.21
Building Inspector II w/Combo Cert UNREP H Hourly $ 42.61 $ 44.74 $ 46.98 $ 49.33 $ 51.80 Bi-Weekly $ 3,409.09 $ 3,579.54 $ 3,758.52 $ 3,946.45 $ 4,143.77 Monthly $ 7,386.36 $ 7,755.67 $ 8,143.46 $ 8,550.63 $ 8,978.16 Annually $ 88,636.28 $ 93,068.09 $ 97,721.50 $ 102,607.57 $ 107,737.95 Chief Building Official UNREP S Hourly $ 72.29 $ 75.91 $ 79.70 $ 83.69 $ 87.87 Bi-Weekly $ 5,783.34 $ 6,072.51 $ 6,376.14 $ 6,694.94 $ 7,029.69 Monthly $ 12,530.58 $ 13,157.11 $ 13,814.96 $ 14,505.71 $ 15,231.00 Annually $ 150,366.96 $ 157,885.31 $ 165,779.57 $ 174,068.55 $ 182,771.98 City Clerk/Paralegal UNREP S Hourly $ 65.41 $ 68.68 $ 72.11 $ 75.72 $ 79.50 Bi-Weekly $ 5,232.60 $ 5,494.23 $ 5,768.94 $ 6,057.39 $ 6,360.26 Monthly $ 11,337.30 $ 11,904.16 $ 12,499.37 $ 13,124.34 $ 13,780.56 Annually $ 136,047.57 $ 142,849.95 $ 149,992.45 $ 157,492.07 $ 165,366.67 City Manager* Contract S Hourly $ 133.41
Bi-Weekly $ 10,673.08
Monthly $ 23,125.00
Annually $ 277,500.00
Code Enforcement Technician UNREP H Hourly $ 32.28 $ 33.90 $ 35.59 $ 37.37 $ 39.24 Bi-Weekly $ 2,582.64 $ 2,711.77 $ 2,847.36 $ 2,989.73 $ 3,139.22 Monthly $ 5,595.72 $ 5,875.51 $ 6,169.28 $ 6,477.75 $ 6,801.64 Annually $ 67,148.67 $ 70,506.10 $ 74,031.40 $ 77,732.97 $ 81,619.62 Code Enforcement Officer UNREP H Hourly $ 38.74 $ 40.68 $ 42.71 $ 44.85 $ 47.09 Bi-Weekly $ 3,099.17 $ 3,254.13 $ 3,416.84 $ 3,587.68 $ 3,767.06 Monthly $ 6,714.87 $ 7,050.61 $ 7,403.14 $ 7,773.30 $ 8,161.96 Annually $ 80,578.42 $ 84,607.35 $ 88,837.71 $ 93,279.60 $ 97,943.58 Community Development Director UNREP S Hourly $ 88.54 $ 92.96 $ 97.61 $ 102.49 $ 107.62 Bi-Weekly $ 7,083.01 $ 7,437.16 $ 7,809.02 $ 8,199.47 $ 8,609.44 Monthly $ 15,346.52 $ 16,113.84 $ 16,919.53 $ 17,765.51 $ 18,653.79 Annually $ 184,158.19 $ 193,366.10 $ 203,034.41 $ 213,186.13 $ 223,845.43 Custodian UNREP H Hourly $ 27.17 $ 28.53 $ 29.95 $ 31.45 $ 33.02 Bi-Weekly $ 2,173.35 $ 2,282.02 $ 2,396.12 $ 2,515.92 $ 2,641.72 Monthly $ 4,708.92 $ 4,944.37 $ 5,191.59 $ 5,451.17 $ 5,723.73 Annually $ 56,507.08 $ 59,332.43 $ 62,299.05 $ 65,414.01 $ 68,684.71 Deputy City Clerk UNREP H Hourly $ 34.06 $ 35.76 $ 37.55 $ 39.42 $ 41.39 Bi-Weekly $ 2,724.41 $ 2,860.63 $ 3,003.66 $ 3,153.84 $ 3,311.53 Monthly $ 5,902.88 $ 6,198.02 $ 6,507.92 $ 6,833.32 $ 7,174.99 Annually $ 70,834.54 $ 74,376.27 $ 78,095.08 $ 81,999.84 $ 86,099.83 City of Oakley
Master Salary Schedule All
Positions
Effective February 13, 2024
224
Position Unit Hourly/Salary Frequency Step AA Step A Step B Step C Step D Step E Step F Economic Development Analyst UNREP S Hourly $ 51.27 $ 53.83 $ 56.52 $ 59.35 $ 62.32 Bi-Weekly $ 4,101.36 $ 4,306.42 $ 4,521.75 $ 4,747.83 $ 4,985.23 Monthly $ 8,886.27 $ 9,330.59 $ 9,797.12 $ 10,286.97 $ 10,801.32 Annually $ 106,635.28 $ 111,967.05 $ 117,565.40 $ 123,443.67 $ 129,615.85 Engineering Manager UNREP S Hourly $ 68.84 $ 72.28 $ 75.90 $ 79.69 $ 83.68 Bi-Weekly $ 5,507.30 $ 5,782.67 $ 6,071.80 $ 6,375.39 $ 6,694.16 Monthly $ 11,932.49 $ 12,529.11 $ 13,155.56 $ 13,813.34 $ 14,504.01 Annually $ 143,189.82 $ 150,349.31 $ 157,866.78 $ 165,760.12 $ 174,048.12 Engineering Technician UNREP H Hourly $ 37.10 $ 38.95 $ 40.90 $ 42.94 $ 45.09 Bi-Weekly $ 2,967.67 $ 3,116.05 $ 3,271.86 $ 3,435.45 $ 3,607.22 Monthly $ 6,429.95 $ 6,751.45 $ 7,089.02 $ 7,443.47 $ 7,815.64 Annually $ 77,159.40 $ 81,017.37 $ 85,068.24 $ 89,321.65 $ 93,787.73 Facilities Maintenance Worker UNREP H Hourly $ 31.91 $ 33.51 $ 35.18 $ 36.94 $ 38.79 Bi-Weekly $ 2,552.80 $ 2,680.44 $ 2,814.46 $ 2,955.19 $ 3,102.95 Monthly $ 5,531.07 $ 5,807.62 $ 6,098.00 $ 6,402.90 $ 6,723.05 Annually $ 66,372.83 $ 69,691.47 $ 73,176.04 $ 76,834.85 $ 80,676.59 Finance Manager UNREP S Hourly $ 66.41 $ 69.73 $ 73.22 $ 76.88 $ 80.72 Bi-Weekly $ 5,312.83 $ 5,578.47 $ 5,857.39 $ 6,150.26 $ 6,457.78 Monthly $ 11,511.13 $ 12,086.69 $ 12,691.02 $ 13,325.57 $ 13,991.85 Annually $ 138,133.56 $ 145,040.24 $ 152,292.25 $ 159,906.86 $ 167,902.21 Human Resources Manager UNREP S Hourly $ 66.41 $ 69.73 $ 73.22 $ 76.88 $ 80.72 Bi-Weekly $ 5,312.83 $ 5,578.47 $ 5,857.39 $ 6,150.26 $ 6,457.78 Monthly $ 11,511.13 $ 12,086.69 $ 12,691.02 $ 13,325.57 $ 13,991.85 Annually $ 138,133.56 $ 145,040.24 $ 152,292.25 $ 159,906.86 $ 167,902.21 Information Technology Manager UNREP S Hourly $ 60.96 $ 64.01 $ 67.21 $ 70.57 $ 74.10 Bi-Weekly $ 4,876.98 $ 5,120.83 $ 5,376.87 $ 5,645.71 $ 5,928.00 Monthly $ 10,566.79 $ 11,095.13 $ 11,649.89 $ 12,232.38 $ 12,844.00 Annually $ 126,801.48 $ 133,141.55 $ 139,798.63 $ 146,788.56 $ 154,127.99 Office Assistant UNREP H Hourly $ 22.18 $ 23.29 $ 24.45 $ 25.68 $ 26.96 Bi-Weekly $ 1,774.36 $ 1,863.08 $ 1,956.24 $ 2,054.05 $ 2,156.75 Monthly $ 3,844.45 $ 4,036.68 $ 4,238.51 $ 4,450.44 $ 4,672.96 Annually $ 46,133.45 $ 48,440.13 $ 50,862.13 $ 53,405.24 $ 56,075.50 Payroll Specialist UNREP H Hourly $ 38.88 $ 40.82 $ 42.86 $ 45.01 $ 47.26 Bi-Weekly $ 3,110.26 $ 3,265.77 $ 3,429.06 $ 3,600.51 $ 3,780.54 Monthly $ 6,738.89 $ 7,075.83 $ 7,429.63 $ 7,801.11 $ 8,191.16 Annually $ 80,866.68 $ 84,910.01 $ 89,155.51 $ 93,613.29 $ 98,293.95 Park Ranger UNREP H Hourly $ 38.74 $ 40.68 $ 42.71 $ 44.85 $ 47.09 Bi-Weekly $ 3,099.17 $ 3,254.13 $ 3,416.84 $ 3,587.68 $ 3,767.06 Monthly $ 6,714.87 $ 7,050.61 $ 7,403.14 $ 7,773.30 $ 8,161.96 Annually $ 80,578.42 $ 84,607.35 $ 88,837.71 $ 93,279.60 $ 97,943.58 Permit Technician UNREP H Hourly $ 31.04 $ 32.59 $ 34.22 $ 35.93 $ 37.73 Bi-Weekly $ 2,483.20 $ 2,607.36 $ 2,737.73 $ 2,874.62 $ 3,018.35 Monthly $ 5,380.27 $ 5,649.28 $ 5,931.75 $ 6,228.34 $ 6,539.75 Annually $ 64,563.24 $ 67,791.40 $ 71,180.97 $ 74,740.02 $ 78,477.02 City of Oakley
Master Salary Schedule All
Positions
Effective February 13, 2024
225
Position Unit Hourly/Salary Frequency Step AA Step A Step B Step C Step D Step E Step F Planning Manager UNREP S Hourly $ 72.25 $ 75.87 $ 79.66 $ 83.64 $ 87.82 Bi-Weekly $ 5,780.20 $ 6,069.21 $ 6,372.67 $ 6,691.30 $ 7,025.87 Monthly $ 12,523.76 $ 13,149.95 $ 13,807.45 $ 14,497.82 $ 15,222.71 Annually $ 150,285.12 $ 157,799.37 $ 165,689.34 $ 173,973.81 $ 182,672.50 Police Chief Contract S Hourly $ 114.96
Bi-Weekly $ 9,196.62
Monthly $ 19,926.00
Annually $ 239,112.00
Police Lieutenant UNREP S Hourly $ 74.95 $ 78.70 $ 82.64 $ 86.77 $ 91.11 $ 95.66 Bi-Weekly $ 5,996.25 $ 6,296.06 $ 6,610.86 $ 6,941.41 $ 7,288.48 $ 7,652.90 Monthly $ 12,991.87 $ 13,641.46 $ 14,323.54 $ 15,039.71 $ 15,791.70 $ 16,581.28 Annually $ 155,902.45 $ 163,697.57 $ 171,882.45 $ 180,476.57 $ 189,500.40 $ 198,975.42 Police Officer OPOA H Hourly 48.23 $ 50.64 $ 53.17 $ 55.83 $ 58.62 $ 61.55 $ 64.63 Bi-Weekly $ 3,858.13 $ 4,051.04 $ 4,253.59 $ 4,466.27 $ 4,689.59 $ 4,924.06 $ 5,170.27 Monthly $ 8,359.29 $ 8,777.25 $ 9,216.12 $ 9,676.92 $ 10,160.77 $ 10,668.81 $ 11,202.25 Annually $ 100,311.47 $ 105,327.04 $ 110,593.39 $ 116,123.06 $ 121,929.21 $ 128,025.68 $ 134,426.96 Police Records Assistant UNREP H Hourly $ 28.18 $ 29.59 $ 31.07 $ 32.62 $ 34.25 Bi-Weekly $ 2,254.16 $ 2,366.87 $ 2,485.22 $ 2,609.48 $ 2,739.95 Monthly $ 4,884.02 $ 5,128.22 $ 5,384.64 $ 5,653.87 $ 5,936.56 Annually $ 58,608.28 $ 61,538.69 $ 64,615.63 $ 67,846.41 $ 71,238.73 Police Records Supervisor UNREP S Hourly $ 41.03 $ 43.08 $ 45.24 $ 47.50 $ 49.87 Bi-Weekly $ 3,282.49 $ 3,446.61 $ 3,618.94 $ 3,799.89 $ 3,989.88 Monthly $ 7,112.05 $ 7,467.66 $ 7,841.04 $ 8,233.09 $ 8,644.75 Annually $ 85,344.65 $ 89,611.88 $ 94,092.47 $ 98,797.10 $ 103,736.95 Police Sergeant OPOA H Hourly $ 60.64 $ 63.67 $ 66.86 $ 70.20 $ 73.71 $ 77.39 Bi-Weekly $ 4,851.28 $ 5,093.84 $ 5,348.54 $ 5,615.96 $ 5,896.76 $ 6,191.60 Monthly $ 10,511.11 $ 11,036.66 $ 11,588.50 $ 12,167.92 $ 12,776.32 $ 13,415.13 Annually $ 126,133.28 $ 132,439.94 $ 139,061.94 $ 146,015.04 $ 153,315.79 $ 160,981.58 Police Services Assistant UNREP H Hourly $ 31.58 $ 33.16 $ 34.81 $ 36.55 $ 38.38 Bi-Weekly $ 2,526.12 $ 2,652.42 $ 2,785.04 $ 2,924.30 $ 3,070.51 Monthly $ 5,473.26 $ 5,746.92 $ 6,034.26 $ 6,335.98 $ 6,652.78 Annually $ 65,679.06 $ 68,963.02 $ 72,411.17 $ 76,031.72 $ 79,833.31 Property & Evidence Technician UNREP S Hourly $ 34.07 $ 35.77 $ 37.56 $ 39.44 $ 41.41 Bi-Weekly $ 2,725.46 $ 2,861.73 $ 3,004.82 $ 3,155.06 $ 3,312.81 Monthly $ 5,905.17 $ 6,200.42 $ 6,510.44 $ 6,835.97 $ 7,177.77 Annually $ 70,861.98 $ 74,405.08 $ 78,125.33 $ 82,031.60 $ 86,133.18 Public Works Director/City Engineer UNREP S Hourly $ 86.05 $ 90.35 $ 94.87 $ 99.62 $ 104.60 Bi-Weekly $ 6,884.13 $ 7,228.34 $ 7,589.75 $ 7,969.24 $ 8,367.70 Monthly $ 14,915.62 $ 15,661.40 $ 16,444.47 $ 17,266.69 $ 18,130.02 Annually $ 178,987.38 $ 187,936.75 $ 197,333.59 $ 207,200.27 $ 217,560.28 Public Works Inspector UNREP H Hourly $ 42.64 $ 44.77 $ 47.01 $ 49.36 $ 51.83 Bi-Weekly $ 3,411.23 $ 3,581.79 $ 3,760.88 $ 3,948.92 $ 4,146.37 Monthly $ 7,390.99 $ 7,760.54 $ 8,148.57 $ 8,556.00 $ 8,983.80 Annually $ 88,691.90 $ 93,126.49 $ 97,782.82 $ 102,671.96 $ 107,805.56 City of Oakley
Master Salary Schedule All
Positions
Effective February 13, 2024
226
Position Unit Hourly/Salary Frequency Step AA Step A Step B Step C Step D Step E Step F Public Works Maintenance Foreman UNREP H Hourly $ 36.03 $ 37.83 $ 39.73 $ 41.71 $ 43.80 Bi-Weekly $ 2,882.57 $ 3,026.70 $ 3,178.03 $ 3,336.94 $ 3,503.78 Monthly $ 6,245.57 $ 6,557.85 $ 6,885.74 $ 7,230.03 $ 7,591.53 Annually $ 74,946.84 $ 78,694.18 $ 82,628.89 $ 86,760.33 $ 91,098.35 Public Works Maintenance Manager UNREP S Hourly $ 61.29 $ 64.36 $ 67.58 $ 70.96 $ 74.50 Bi-Weekly $ 4,903.54 $ 5,148.72 $ 5,406.16 $ 5,676.47 $ 5,960.29 Monthly $ 10,624.35 $ 11,155.56 $ 11,713.34 $ 12,299.01 $ 12,913.96 Annually $ 127,492.16 $ 133,866.77 $ 140,560.11 $ 147,588.12 $ 154,967.52 Public Works Maintenance Supervisor UNREP S Hourly $ 46.91 $ 49.25 $ 51.71 $ 54.30 $ 57.01 Bi-Weekly $ 3,752.47 $ 3,940.10 $ 4,137.10 $ 4,343.96 $ 4,561.16 Monthly $ 8,130.36 $ 8,536.88 $ 8,963.72 $ 9,411.91 $ 9,882.50 Annually $ 97,564.32 $ 102,442.54 $ 107,564.66 $ 112,942.90 $ 118,590.04 Public Works Maintenance Worker UNREP H Hourly $ 32.36 $ 33.98 $ 35.68 $ 37.46 $ 39.33 Bi-Weekly $ 2,588.69 $ 2,718.13 $ 2,854.03 $ 2,996.74 $ 3,146.57 Monthly $ 5,608.83 $ 5,889.28 $ 6,183.74 $ 6,492.93 $ 6,817.57 Annually $ 67,306.01 $ 70,671.31 $ 74,204.88 $ 77,915.12 $ 81,810.87 Recreation & Events Coordinator UNREP H Hourly $ 32.83 $ 34.47 $ 36.20 $ 38.01 $ 39.91 Bi-Weekly $ 2,626.62 $ 2,757.95 $ 2,895.85 $ 3,040.65 $ 3,192.68 Monthly $ 5,691.02 $ 5,975.57 $ 6,274.35 $ 6,588.06 $ 6,917.47 Annually $ 68,292.21 $ 71,706.82 $ 75,292.17 $ 79,056.77 $ 83,009.61 Recreation Manager UNREP S Hourly $ 54.11 $ 56.81 $ 59.66 $ 62.64 $ 65.77 Bi-Weekly $ 4,328.71 $ 4,545.15 $ 4,772.41 $ 5,011.03 $ 5,261.58 Monthly $ 9,378.88 $ 9,847.82 $ 10,340.22 $ 10,857.23 $ 11,400.09 Annually $ 112,546.56 $ 118,173.89 $ 124,082.58 $ 130,286.71 $ 136,801.05 Senior Permit Technician UNREP H Hourly $ 36.14 $ 37.95 $ 39.84 $ 41.84 $ 43.93 Bi-Weekly $ 2,891.10 $ 3,035.66 $ 3,187.44 $ 3,346.81 $ 3,514.16 Monthly $ 6,264.06 $ 6,577.26 $ 6,906.13 $ 7,251.43 $ 7,614.00 Annually $ 75,168.72 $ 78,927.16 $ 82,873.51 $ 87,017.19 $ 91,368.05 *Per contract is effective July 1, 2023
City Council Member Elected Monthly $ 456.75
Police Service Assistant Part Time H Hourly $ 31.58 $ 38.38 Recreation Leader Part Time H Hourly $ 17.88 $ 20.35
Recreation Aide Part Time H Hourly $ 16.25 $ 18.50
Senior Recreation Leader Part Time H Hourly $ 19.67 $ 22.39 Recreation Leader Seasonal H Hourly $ 17.88 $ 20.35
Recreation Aide Seasonal H Hourly $ 16.25 $ 18.50
Senior Recreation Leader Seasonal H Hourly $ 19.67 $ 22.39 City of Oakley
Master Salary Schedule All
Positions
Effective February 13, 2024
227

STAFF REPORT

City of Oakley | 3231 Main Street, Oakley, CA 94561
O (925) 625-7000 | F (925) 625-9859 | www.ci.oakley.ca.us DATE: February 13, 2024
TO: Joshua McMurray, City Manager
FROM: Derek Cole, City Attorney
Kevin Rohani, P.E., Public Works Director/City Engineer SUBJECT: Approval of the Final Agreement for the Purchase of Portions of Contra Costa Assessor Parcel No. 034-090-022 from the Del Barba family for the Laurel Road Widening (Cloverbrook Avenue to O’Hara Avenue) Project – Capital Improvement Project (CIP) Number 280
Background and Analysis
The City’s adopted FY 2023/24 Capital Improvement Program Budget designates funding for various infrastructure repair and replacement projects. This is consistent with the City’s goals to improve the quality of the City’s public infrastructure and to enhance the quality of life for Oakley residents.

The Laurel Road Widening Project (Cloverbrook Avenue to O'Hara Avenue), CIP 280 is one of the most important projects in Oakley, as this project will address the much needed widening of Laurel Road to 4 lanes in the section from Cloverbrook Avenue to O'Hara Avenue to current City standards. This project is the last section of Laurel Road that needs widening to 4 lanes and compliments the section of Laurel Road from Rose Avenue to Cloverbrook Avenue that was widened and improved in 2018.

The delays in the progress of CIP 280 over the past few years have been due to the lack of public Right of Way to widen the roadway. The Del Barba family owns a vineyard on the south side of Laurel Road along the project limits that is an active and operational vineyard.

Staff have been discussing this project concept and plan with the Del Barba family over the years and finally in October 2022 a tentative agreement was reached between the Del Barba family and the City for the acquisition of the Right of Way needed for the Laurel Road Widening (Cloverbrook Avenue to O’Hara Avenue) Project. This Right of Way acquisition is also for the relocation of the Western Area Power Administration (WAPA) utility poles that are needed and along Laurel Road in front of the vineyard.

The terms of this tentative agreement include the value of the land to be purchased by the City from the Del Barba family at $6 per square foot and the value of each grapevine to be removed in the Right of Way area, at $100 per grapevine. The total square footage of land to be purchased is 65,191, for a total cost of $391,146. The Approved and
Forwarded to the
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228

STAFF REPORT
City of Oakley | 3231 Main Street, Oakley, CA 94561 2
O (925) 625-7000 | F (925) 625-9859 | www.ci.oakley.ca.us total number of grapevines to be removed is 1,338, for a total cost of $133,800. The grand total cost of the right of way acquisition ($391,146 plus $133,800) is $524,946.

After the final purchase and acquisition of the land, the City will design and construct the roadway widening and its associated infrastructure as part of CIP 280. In the future, when the Del Barba vineyard is sold to private developers and development applications are brought to the City, such developers will reimburse the City costs associated with the Laurel Road Widening along the frontage of the Del Barba vineyard according to City Code. In addition to the City’s CIP 280 Project, WAPA is also working on their design to relocate the utility poles out of the roadway construction zone.

The attached purchase and sale agreement would provide for the sale of the property needed for these right-of-way acquisitions. The Family’s acceptance to the agreement avoids the need for the City to commence formal condemnation proceedings. Upon execution of the agreement, the parties will open escrow and complete the transaction before the end of the current fiscal year.

Staff acknowledges & appreciates the Del Barba Family on their willingness to work with the City on this matter.

Consistency with the Oakley Strategic Plan 27+
This item is consistent with the Strategic Plan 27+ Community Health and Safety goals.

Fiscal Impact
The payment for the purchase of the Right of Way for the Laurel Road Widening (Cloverbrook Avenue to O’Hara Avenue) Project will be from the ARPA Fund in the amount of $524,946.

Staff Recommendation
Staff recommends that the City Council adopt the Resolution Authorizing the City Manager to execute the Purchase and Sale Agreement Made under Threat of, And in Lieu of, Condemnation For a Portion of Contra Costa County APN No. 034-090-022 Related to City of Oakley Capital Improvement Project 280.

Attachments

1. Resolution

2. Purchase and Sale Agreement (will be available on City’s website) 229
RESOLUTION NO._________

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF OAKLEY

AUTHORIZING THE EXECUTION OF A PURCHASE AND SALE AGREEMENT

MADE UNDER THREAT OF, AND IN LIEU OF, CONDEMNATION FOR A PORTION OF CONTRA COSTA COUNTY APN NO. 034-090-022 RELATED TO CITY OF OAKLEY CAPITAL IMPROVEMENT PROJECT NUMBER 280
WHEREAS, Members of the Del Barba Family are, collectively, the owners of the property more particularly described as Contra Costa County Assessor Parcel 034- 090-022, located at the intersection of Laurel Road and O’Hara Avenue; and WHEREAS, For purpose of widening portions of Laurel Road and O’Hara Avenue at and near the intersection of both roadways, the Del Barba Family members have agreed to sell, and the City has agreed to purchase, portions of the Family property for purposes of right-of-way acquisition; and
WHEREAS, The acquisition of property is necessary to allow the City to obtain right of way to complete the construction of City of Oakley Capital Improvement Project Number 280; and
WHEREAS, the City’s purchase of the rights-of-way acreage by sale is made with the Parties’ mutual understanding that the City would seek to acquire the acreage through eminent domain but for the Family’s agreement to sell.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Oakley authorizes the City Manager to execute the Purchase and Sale Agreement Made under Threat of, And in Lieu of, Condemnation For a Portion of Contra Costa County APN No. 034-090-022 Related to City of Oakley Capital Improvement Project Number 280, attached as Exhibit A.

BE IT FURTHER RESOLVED that the City Council finds that the approval of the Agreement is not subject to the California Environmental Quality Act (“CEQA”) because all environmental impacts associated with the Project have been previously analyzed in association with the analysis of the widening of the roadways at issue.

PASSED AND ADOPTED by the City Council of the City of Oakley at a meeting held on the 13th of February 2024 by the following vote:

AYES:

NOES:

ABSTENTION:

ABSENT:

APPROVED:
__________________________
Anissa Williams, Mayor
230
ATTEST:
______________________________________
Libby Vreonis, City Clerk Date
231

STAFF REPORT

City of Oakley | 3231 Main Street, Oakley, CA 94561
O (925) 625-7000 | F (925) 625-9859 | www.ci.oakley.ca.us DATE: February 13, 2023
TO: Joshua McMurray, City Manager
FROM: Danielle Navarro, Assistant City Manager
SUBJECT: Adopt a Resolution Extending the Term of the City of Oakley Affordable Housing Ad-Hoc Advisory Committee
Background and Analysis
At the August 8, 2023 City Council meeting, the Mayor requested that staff bring forward an item that would establish an Affordable Housing Ad-Hoc Advisory Committee (“Committee”). At its September 12th meeting, the Oakley City Council adopted a resolution establishing the Committee with the purpose of reviewing and discussing resident issues at The Oaks apartment complex and advising the City Council on those issues.

The City Council appointed two residents of The Oaks and one member of The Oaks management team with decision-making authority to the Committee at its October 10th meeting. The Committee held public meetings in October and November. At the Committee’s recommendation, in December the City Council extended the term to February 13, 2023 to allow the management team time to address and report back on remaining items.

At its January 18, 2024 meeting, the Committee decided it would be beneficial to recommend an additional extension to February 27, 2024 as information regarding many of the items that were to be reported on during the January 18th meeting -- door security, trash, landscaping, and pest control -- was not yet available. If the extension is approved, the Committee would meet on February 22nd.

Consistency with the Oakley Strategic Plan 27+
The purpose of the Affordable Housing Ad-Hoc Committee is consistent with the Oakley Strategic Plan 27+ Community Health and Safety and Community and Collaborative Partnerships goals.

Fiscal Impact
There is no fiscal impact other than minimal staff time.

Staff Recommendation
Staff recommends that the City Council adopt the proposed resolution extending the term of the City of Oakley Affordable Housing Ad-Hoc Advisory Committee.

Approved and
Forwarded to the
City Council
232

STAFF REPORT
CITY HALL | 3231 Main Street, Oakley, CA 94561 2
O (925) 625-7000 | F (925) 625-9859 | www.CI.Oakley.CA.US Attachments

1. Proposed Resolution
233
Resolution No. XX-24 Page 1 of 1
RESOLUTION NO. XX-24

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF OAKLEY EXTENDING

THE TERM OF THE CITY OF OAKLEY AFFORDABLE HOUSING AD-HOC

ADVISORY COMMITTEE
WHEREAS, at its September 12, 2023 meeting, the Oakley City Council established an Affordable Housing Ad-Hoc Advisory Committee (“Committee”) consisting of Councilmember Meadows, Vice Mayor Shaw, two Oaks apartment residents, and one member of The Oaks management team with decision-making authority; and WHEREAS, the Committee’s purpose is to review and discuss resident issues at The Oaks apartment complex and advise the City Council on those issues.; and WHEREAS, the Committee was established with an ending date of December 31, 2023; and
WHEREAS, On December 12, 2023, the City Council approved extending the end date to February 13, 2024, to allow the management team time to address and report back on the remaining items; and
WHEREAS, the Committee believes extending the end date to February 27, 2024 would be beneficial to allow the management team additional time to report back on remaining items.

NOW, THEREFORE, BE IT RESOLVED AND ORDERED, that the City Council of the City of Oakley does hereby extend the term of the City of Oakley Affordable Housing AdHoc Advisory Committee to February 27, 2024.

PASSED AND ADOPTED by the City Council of the City of Oakley this 13th day of February, 2024 by the following vote:

AYES:

NOES:

ABSTENTIONS:

ABSENT:

APPROVED:

________________
ATTEST: Anissa Williams, Mayor
______ _____
Libby Vreonis, City Clerk Date
234
Business Name Primary Contact Email Address Primary Address Phone # Full Primary Address Active Licenses ADAN & ANA ENTERPRISE INC [email protected] (925) 513-5488 3400 MAIN ST OAKLEY CA 94561-3137

BUSINESS LICENSE
ARA TAX SERVICES [email protected] (925) 856-2822 3903 MAIN ST OAKLEY CA 94561-5759

BUSINESS LICENSE
EXCLUSIVE TINTS AND AUTO REPAIR [email protected] (925) 732-8860 150 E ACME ST OAKLEY CA 94561

BUSINESS LICENSE
FENIX GENERAL CONTRACTOR [email protected] (925) 508-9200 1881 GATEWAY DR OAKLEY CA 94561-2620

HOME BASED BUSINESS LICENSE
HAIR BY LINDSEY GRIGGS (925) 639-3400 3385 W MAIN ST
OAKLEY CA 94561

BUSINESS LICENSE
JORDAN SORRELL BLIND AND SHUTTERS (925) 529-2069 4700 MAIN ST UNIT A100
OAKLEY CA 94561

BUSINESS LICENSE
LOPEZ MNTS SVC, LLC (925) 448-4175 370 MYRTLE LN
OAKLEY CA 94561

HOME BASED BUSINESS LICENSE
NINA SARKISYAN [email protected] (925) 200-0528 3663 MAIN ST OAKLEY CA 94561-5781

BUSINESS LICENSE
OAKLEY MANOR RENTAL LLC (408) 234-0177 161 LITTLE RANCH CIR OAKLEY CA 94561

HOME BASED BUSINESS LICENSE
OAKLEY TAVERN [email protected] (925) 809-5555 3685 MAIN ST OAKLEY CA 94561-5781

BUSINESS LICENSE
REBOLLIDO LLC [email protected] (408) 313-2773 4701 SNOWY EGRET WAY OAKLEY CA 94561

HOME BASED BUSINESS LICENSE
SISTER'S ORTIZ HOUSE CLEANING [email protected] (925) 428-9786 27 MINARET RD OAKLEY CA 94561

HOME BASED BUSINESS LICENSE
THE CLEANING PATROL INC [email protected] (925) 440-0073 250 W CYPRESS RD OAKLEY CA 94561-3203

HOME BASED BUSINESS LICENSE
THE JEWELRY BOX SHOP (408) 334-0925 320 PADRE DR
OAKLEY CA 94561

HOME BASED BUSINESS LICENSE
THE MOVING STARS (925) 628-4197 4790 LIVE OAK AVE
OAKLEY CA 94561-3925

HOME BASED BUSINESS LICENSE
WENDY'S OF OAKLEY 1080 MAIN ST [email protected] (510) 915-5805 1080 MAIN ST OAKLEY CA 94561

BUSINESS LICENSE
16 235
1 City Council/Successor Agency to City Council Follow Up List Follow up from Meeting of February 14, 2023
Agenda
Item
Topic/Subject Motion Second Follow-up Task Estimated
Date of
Completion
Follow
up at
Council
Meeting
Follow
Up
Via
Memo

6.2(b) Requests for
Future
Agendas
Fuller Meadows City Manager/Public Works-work session to expand Creekside Park to better serve demographic
community
March/April X
Follow up from Meeting of March 28, 2023
Agenda
Item
Topic/Subject Motion Second Follow-up Task Estimated
Date of
Completion
Follow
up at
Council
Meeting
Follow Up
Via Memo

6.2(b) Requests for
Future
Agendas
(Meadows)
Meadows Williams City Manager-look at facility needs for growing staff X Follow up from Meeting of July 11, 2023
Agenda
Item
Topic/Subject Motion Second Follow-up Task Estimated
Date of
Completion
Follow
up at
Council
Meeting
Follow Up
Via
Memo

6.2(b) Requests for
Future
Agendas
Shaw Williams Police-explore options for future fireworks response/location?
2/27/24 X
236
2 Follow up from Meeting of August 8, 2023
Agenda
Item
Topic/Subject Motion Second Follow-up Task Estimated
Date of
Completion
Follow
up at
Council
Meeting
Follow Up
Via Memo

6.2(b) Requests for
Future
Agendas
Henderson Shaw City Attorney-social media policy for Council TBD X Follow up from Meeting of September 26, 2023
Agenda
Item
Topic/Subject Motion Second Follow-up Task Estimated
Date of
Completion
Follow
up at
Council
Meeting
Follow Up
Via Memo

6.2(b) Requests for
Future
Agendas
Shaw Williams City Manager/Public Works-early public warning system for when train track (arms) down east of
Sellers Ave; reach out to BNSF

In progress
X
Follow up from Meeting of October 10, 2023
Agenda
Item
Topic/Subject Follow-up Task Estimated
Date of
Completion
Follow up
at
Council
Meeting
Follow
Up
Via
Memo

7.1 Work
SessionAB 1657
(Wicks)
City Manager-Henderson suggested quarterly updates through CM Report or Workshop on any changes to or actions on AB 1657 (Wicks)(see 1/23/24 below)
TBD X follow up
to
continue
on
AB 1657
237
3 Follow up from Meeting of October 24, 2023
Agenda
Item
Topic/Subject Motion Second Follow-up Task Estimated
Date of
Completion
Follow
up at
Council
Meeting
Follow
Up
Via
Memo

6.2(b) Requests for
Future
Agendas
Fuller Shaw City Manager-Veterans speaker to address current hardships/concerns
TBD X
Follow up from Meeting of November 14, 2023
Agenda
Item
Topic/Subject Motion Second Follow-up Task Estimated
Date of
Completion
Follow
up at
Council
Meeting
Follow Up
Via
Memo

6.2(b) Requests for
Future
Agendas
Fuller Williams City Manager-Work session to ascertain safety of rail platform in vicinity of Downtown and Vintage
Parkway
2/27/24 X
Follow up from Meeting of January 23, 2024
Agenda
Item
Topic/Subject Motion Second Follow-up Task Estimated
Date of
Completion
Follow
up at
Council
Meeting
Follow Up
Via
Memo

6.2(b) Requests for
Future
Agendas
Williams Shaw City Manager/Econ Dev-presentation regarding funding options for small businesses (Williams),
share how much has already been provided to nonprofits/businesses TBD X

6.2(b) Requests for
Future
Agendas
Williams Shaw City Manager-Townsend/City Attorney-report on AB 1033 and AB 1657 (see 10/10/23 above)
TBD X
Revised 1/23/24
238

STAFF REPORT
4854-3120-1187.1 1
City of Oakley | 3231 Main Street, Oakley, CA 94561
O (925) 625-7000 | F (925) 625-9859 | www.ci.oakley.ca.us DATE: February 13, 2024
TO: Joshua McMurray, City Manager
FROM: Derek Cole, City Attorney
SUBJECT: Report to the City Council Regarding Council Members’ Ability to Comment Upon or Express Opinions About Pending or Future Agenda Items
Background and Analysis
The City Council has requested this Office advise regarding Council members ability to express positions on matters that are expected to or may come before the Council.

More specifically, this Office addresses when Council member comments or expressions of opinion about future agenda items may become disqualifying for impermissible bias.

In addressing this issue, I start by noting the law concerning bias is different depending on whether the item to come before the Council is quasi-legislative or quasi-judicial.

The obligation to refrain from impermissible bias applies only to the latter type of decision. (Coalition for Historical Integrity v. City of San Buenaventura (2023) 92 Cal.App.5th 430, 436; City of Santa Cruz v. Superior Court (1995) 40 Cal.App.4th 1146, 1157.) When the Council considers quasi-legislative actions, Council members are effectively acting as legislators, and thus the expression of advance positions is considered normal political activity.

Quasi-legislative actions are those that involve the making of policy. The adoption of ordinances, the consideration of general plan amendments, and the enactment of zoning ordinances are classic examples of quasi-legislative decisions. The consideration of budgets and financial matters are other examples of matters that are quasi-legislative.

Other areas that would be considered quasi-legislative include housing, law enforcement practices, and code enforcement standards. When the Council considers matters such as these, it is not a violation of the law for a councilmember to express his or her opinion in advance.

A different standard applies to quasi-judicial decisions. These are decisions in which the Council must act like a judge does—by applying law to facts. Typical examples of quasijudicial matters include land use applications (such as conditional use permits) or code enforcement appeal hearings. Public contracting matters also involve quasi-judicial decisions, as do any matters that are initiated by or involve a private party or applicant.

When matters such as these are involved, the constitutional requirements of due process require that decision-makers not be impermissibly biased. (Woody’s Group, Inc. v. City Approved and
Forwarded to the
City Council
239

STAFF REPORT
CITY HALL | 3231 Main Street, Oakley, CA 94561 2
O (925) 625-7000 | F (925) 625-9859 | www.ci.oakley.ca.us of Newport Beach (2015) 233 Cal.App.4th 731, 741; Nasha v. City of Los Angeles (2004) 125 Cal.App.4th 1012, 1022.) For these matters, councilmembers must refrain from engaging in conduct that creates “an unacceptable probability of actual bias.” (Petrovich Dev. Co., LLC v. City of Sacramento (2020) 48 Cal.App.4th 963, 974.) What constitutes an unacceptable probability of bias will inherently depend on the facts.

The bar a party claiming bias must show is a high one—the party must overcome a presumption a Council members is not biased.

Based on decided cases, however, it is still prudent for Council members to refrain from expressing opinions about a quasi-judicial matter in advance of the matter being called.

Advance statements of opinion in any public setting—including social media—should be avoided. The nature of a quasi-judicial hearing is such that Council members should make decisions based only on the evidence they receive as part of or during the Council’s formal consideration of a matter. When opinions are expressed before such consideration, a council member may give the appearance his or her mind is made up and that he or she has prejudged the outcome of a matter.

This does not suggest that councilmembers may never make comments about an upcoming quasi-judicial matter. For instance, statements of general concern about a matter, or expressions of a matter’s importance, are not improper, as they do not suggest prejudgment.

In short, when considering quasi-judicial actions, Council members should refrain from expressing opinions that suggest they may have pre-judged a matter’s outcome. The trigger for a claim of bias is not simply that a council member made statements about a matter, but that the statements suggest the member has already decided the matter before the presentation of evidence.

Consistency with the Oakley Strategic Plan 27+
The proposed action is consistent with the City’s Sustainable Organization Goal.

Fiscal Impact
None.

Staff Recommendation
The City Council is requested to accept this report.

Attachments
None.
240

STAFF REPORT
4882-2285-8658.1 1 1
City of Oakley | 3231 Main Street, Oakley, CA 94561
O (925) 625-7000 | F (925) 625-9859 | www.ci.oakley.ca.us DATE: February 13, 2024
TO: Joshua McMurray, City Manager
FROM: Derek Cole, City Attorney
SUBJECT: Report to the City Council regarding the Enforcement of Adopted Councilmember Standards and Censures of Councilmembers
Background and Analysis
This memorandum responds to the Councils request for advisement regarding adherence to City Council standards.

Based on my recollection of the limited discussion in which this item was requested, I understand that the City Council is interested in potentially adopting standards governing the relations and interactions of councilmembers during meetings and in other official settings. I understand the Council requested advisement on this subject in advance of its upcoming special meeting to be facilitated by the Institute of Local Government.

To succinctly answer the question, there is no enforceable remedy the City Council could impose to ensure compliance with any standards the Council adopts. By enforceable, I mean that there is no action the Council could take to compel a councilmember s compliance with any adopted standard. The Council s only recourse in the event of noncompliance would be through a (mostly) symbolic action known as a censure. A censure could include very limited punitive measures.

For background, in nearly all cases, city employees and officials are subject to discipline and removal. In our City, you as councilmembers have the authorities to hire, fire, and discipline your City Manager and City Attorney. The City Manager, in turn, has the powers to hire, fire, and discipline Department heads and key staff. But no specific person has hiring, firing, or disciplinary authorities over you.

As councilmembers, however, you do have a boss of sorts the voters. Every four years, you must stand for election and throughout your terms, you remain subject to recall. Thus, if the Council desires to establish standards for councilmembers, the voters would effectively have the right to decide whether a councilmember s departures from standards warrants the ultimate consequence removal from office.

Because only voters can effectively discipline a member of the City Council, to the extent the Council wishes to enforce its standards, the only recourse is to censure the offending member. A censure is a public and symbolic reproval of a member for any Approved and
Forwarded to the
City Council
241

STAFF REPORT
CITY HALL | 3231 Main Street, Oakley, CA 94561 2
O (925) 625-7000 | F (925) 625-9859 | www.ci.oakley.ca.us actions a Council majority disapproves. The censure is taken formally by motion or adoption of a resolution.

There are no specific statutes governing the censure process. Some public agencies have adopted written censure policies. Our City has not adopted such a policy.

In the absence of a written censure policy, should this City Council ever intend to consider a censure, common practices and basic fairness would dictate the following process:

1. One or two councilmembers would be appointed to draw up the draft, written censure. Staff and this Office could assist in the technical aspects of such drafting (e.g., formatting the text into proper resolution format).

But because censures are considered the speech of a Council majority, it would be inappropriate for staff or counsel to substantively contribute to the censure s drafting.

2. The draft censure would be placed as an agenda item and published in the agenda packet in the usual manner in advance of a City Council meeting.

3. For sake of fair process, when the matter is called, we would follow a process akin to our public hearing procedure. The drafter(s) of the censure would provide the staff report, the subject(s) of the censure would then be given the right to rebut the proposed censure, and they would further be given a right of rebuttal after the close of public comment.

4. The censure would be made if the resolution of censure is adopted by the usual motion and voting process. The subject(s) of the censure would be entitled to vote on the motion.

Usually, censures are adopted purely symbolically. That is, they simply state for the public record the position of a Council majority against the censured party or parties.

Censures may, however, carry limited addition penalties, including removal from committees and divestiture of any leadership position (such as Mayor or Vice Mayor).

To the extent other Council privileges are provided, the Council may strip the offending member these as well. But more substantive punishments ones that interfere with a councilmember s duties to carry out their duties are not likely authorized. 242

STAFF REPORT
CITY HALL | 3231 Main Street, Oakley, CA 94561 3
O (925) 625-7000 | F (925) 625-9859 | www.ci.oakley.ca.us Consistency with the Oakley Strategic Plan 27+
The proposed action is consistent with The City’s Sustainable Organization Goal.

Fiscal Impact
None.

Staff Recommendation
The City Council is requested to accept the above report.

Attachments
None.
243

Oakley City CouncilFebruary 13, 2024

Oakley City Council
February 13, 2024