Agenda packet — San Jacinto City Council, April 2, 2024 (part 1 of 6)

AGENDA

CITY COUNCIL - REGULAR MEETING
TUESDAY, APRIL 2, 2024
6:30 PM OPEN SESSION
LIVE STREAM LINK: HTTPS://VIMEO.COM/USER115670369

COMMUNITY CENTER
625 S. PICO AVENUE
SAN JACINTO, CA 92583
951-487-7330
City of San Jacinto Page 1 Updated 3/28/2024 4:34 PM

PHIL AYALA, MAYOR

VALERIE VANDEVER, MAYOR PRO TEM

ALONSO LEDEZMA, COUNCILMEMBER

CRYSTAL RUIZ, COUNCILMEMBER

BRIAN HAWKINS, COUNCILMEMBER
This City Council meeting is being conducted in-person and will be broadcast utilizing Livestream video. The City Council meeting may be observed virtually by joining the link on the City’s website.

Public Comments will only be accepted in person during the meeting or in writing to the City Clerk. Participants viewing the Livestream will not have a comment option.

For those wishing to email public comments for the April 2, 2024, City Council meeting, please submit your comments to be read aloud at the meeting by the City Clerk. Email comments to [email protected]. Please put “PUBLIC COMMENT” in the email subject line.

Email comments on matters not on the agenda must be received before the time the Mayor calls the item for Public Comments. Email comments on the agenda items must be received before the time the Mayor closes public comments on the agenda item. All email comments shall be subject to the same rules as would otherwise govern speaker comments at the Council meeting.

Electronic comments on agenda items for April 2, 2024, may only be submitted via email.

Comments via text and social media (Facebook, Twitter, etc.) will not be accepted.

Reading of Public Comments: The City Clerk will read all email comments, provided that the reading shall not exceed three (3) minutes, or such other time as the Council may provide, consistent with the time limit for speakers at a Council meeting. The email comments submitted shall become part of the record of the Council meeting.

In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the office of the City Clerk at 951-487-7330 ext. 339. Notification 48 hours prior to a meeting will enable the City to make reasonable arrangements to ensure accessibility to that meeting [28 CFR 35.102.35.104 ADA Title II].

City of San Jacinto Page 2 Updated 3/28/2024 4:34 PM

1. ORGANIZATION

1.1. Roll Call

1.2. Invocation

1.3. Pledge of Allegiance

1.4. Mayor/Council Member Reports

1.5. Late Items

2. PUBLIC COMMENTS

3. CONSENT CALENDAR

3.A. Consent Calendar - City Council

3.A.1. Waiver of Full Reading of Ordinance(s), and Reading by Title Only

3.A.2. Minutes of the Regular City Council Meeting of March 19, 2024.

RECOMMENDATION:

Staff recommends that the City Council approve the City Council Regular Meeting Minutes of March 19, 2024.

Department: City Clerk

3.A.3. Treasurer’s Report at February 29, 2024
RECOMMENDATION:

Staff recommends that the City Council receive and file Treasurer’s Report for the month ending February 29, 2024.

Department: Finance

3.A.4. Second Reading of Ordinance No. 24-06. An Ordinance Adding Chapter 9.46 to Title 9 of the San Jacinto Municipal Code Establishing Regulations Prohibiting the Unlawful Possession of Catalytic Converters in the City.

RECOMMENDATION:

Staff recommends that the City Council conduct a second reading of, by title only, and adopt Ordinance No. 24-06:

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN
JACINTO, CALIFORNIA, ADDING CHAPTER 9.46 (UNLAWFUL

POSSESSION OF A CATALYTIC CONVERTER PROHIBITED) TO
TITLE 9 (PUBLIC PEACE, MORALS, AND WELFARE) OF THE SAN

JACINTO MUNICIPAL CODE, ESTABLISHING REGULATIONS

PROHIBITING THE UNLAWFUL POSSESSION OF CATALYTIC
CONVERTERS IN THE CITY.

Department: City Attorney
City of San Jacinto Page 3 Updated 3/28/2024 4:34 PM

3.A.5. Approval of $2M ARPA Funding Agreement with Riverside County for State Street Rehabilitation from Idyllwild Drive to 9th Street RECOMMENDATION:

Staff recommends that the City Council:

1. Approve the Funding Agreement for City of San Jacinto Infrastructure project,

2. Appropriate $2,000,000 from the General Fund for the State Street Rehab (Idyllwild to 9th Street) Project (CIP #24-001),

3. Appropriate $292,000 from the Road Maintenance and Rehabilitation Fund for CIP #24-001; and

3. Authorize the City Manager to execute the Agreement.

Department: Engineering

3.A.6. Approval of a Southern California Edison 10-working day Road Closure on Esplanade Avenue
RECOMMENDATION:

Staff recommends that the City Council approve the requested road closure along Esplanade Avenue between Cinnabar Avenue and Cawston Avenue, and Esplanade Avenue from Cawston Avenue to approximately 1300 feet west of Sanderson Avenue for a duration of 10 working days.

Department: Engineering

3.A.7. Approval of Tract Map No. 32955-F subdivision into 95 residential lots located on the south side of Seventh Street, about 1,320 feet west of Cawston Avenue RECOMMENDATION:

Staff recommends the City Council take the following actions:

1. Approve Agreement for Completion of Public Improvements and Securities for Tract 32955-F as approved by the City Attorney;

2. Authorize the City Manager to execute agreements;

3. Approve Tract Map 32955-F; and

4. Authorize the Mayor to Sign the subdivision maps.

Department: Engineering
City of San Jacinto Page 4 Updated 3/28/2024 4:34 PM

3.A.8. Approval of Tract Map No. 32955-5 subdivision into 110 residential lots, located on the south side of Seventh Street, about 2,165 feet west of Cawston Avenue RECOMMENDATION:

Staff recommends the City Council take the following actions:

1. Approve the Agreement for Completion of Public Improvements and Securities for Tract 32955-5 as approved by the City Attorney;

2. Authorize the City Manager to execute the agreement;

3. Approve Tract Map 32955-5; and

4. Authorize the Mayor to Sign the subdivision map.

Department: Engineering

3.A.9. Adoption of Resolution No. 4022, Authorizing the City to Submit an Application for the Energy Efficiency Conservation Block Grant (EECBG) RECOMMENDATION:

Staff Recommends that the City Council adopt Resolution No. 4022, authorizing the City’s application for the Energy Efficiency Conservation Block Grant (EECBG).

Department: Parks

3.A.10.Approval of an agreement with Urban Futures Inc. (UFI) for Strategic Economic Development Implementation and Management Services
RECOMMENDATION:

The City Manager recommends that the City Council:

1. Approve the proposal with UFI in the amount of $25,000 for Strategic Economic Development and Management Services through June 30, 2024;

2. Appropriate $25,000 from the unallocated General Fund Balance;

3. Allocate the $25,000 to pay for the agreement with UFI; and

4. Authorize the City Manager to execute the Agreement.

Department: City Manager
City of San Jacinto Page 5 Updated 3/28/2024 4:34 PM

4. PUBLIC HEARING

4.1. Resolution No. 4013 – Amending San Jacinto Power Electric Generation Rates RECOMMENDATION:

Staff recommends that the City Council adopt Resolution No. 4013, amending San Jacinto Power electric generation rates effective May 1, 2024.

Department: Finance

4.2. Annexation of Territory into Community Facilities District 2003-1 (CFD 2003-1), Authorizing the Levy of Special Taxes, Submitting the Levy of Special Tax to the Qualified Electors, Declaring the Results of the Election, and Authorizing the Levy of Special Taxes for Annexation No. 69
RECOMMENDATION:

Staff recommends that the City Council:

1. Hold the Public Hearing related to the Annexation of Territory into CFD 2003-1.

2. Adopt Resolution No. 4014, authorizing the annexation of territory to CFD 2003- 1 and the levy of a Special Tax, and submitting the levy of Special Tax to the Qualified Electors.

3. Call upon the City Clerk to conduct the Special Annexation Landowner Election.

4. Adopt Resolution No. 4015, declaring the results of a Special Annexation Landowner Election and directing the recording of an amended Notice of Special Tax Lien.

5. Introduce Ordinance No. 24-07 for a first reading and levying a Special Tax within CFD 2003-1, including Annexation No. 69:

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN

JACINTO LEVYING A SPECIAL TAX WITHIN CITY OF SAN JACINTO COMMUNITY FACILITIES DISTRICT NO. 2003-1, INCLUDING

CERTAIN ANNEXATION TERRITORY
Department: Finance
City of San Jacinto Page 6 Updated 3/28/2024 4:34 PM

4.3. Annexation of Territory into Community Facilities District 2003-1 (CFD 2003-1), Authorizing the Levy of Special Taxes, Submitting the Levy of Special Tax to the Qualified Electors, Declaring the Results of the Election, and Authorizing the Levy of Special Taxes for Annexation No. 70
RECOMMENDATION:

Staff recommends that the City Council:

1. Hold the Public Hearing related to the Annexation of Territory into CFD 2003-1.

2. Adopt Resolution No. 4016, authorizing the annexation of territory to CFD 2003- 1 and the levy of a Special Tax, and submitting the levy of Special Tax to the Qualified Electors.

3. Call upon the City Clerk to conduct the Special Annexation Landowner Election.

4. Adopt Resolution No. 4017, declaring the results of a Special Annexation Landowner Election and directing the recording of an amended Notice of Special Tax Lien.

5. Introduce Ordinance No. 24-08 for a first reading and levying a Special Tax within CFD 2003-1, including Annexation No. 70:

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN

JACINTO LEVYING A SPECIAL TAX WITHIN CITY OF SAN JACINTO COMMUNITY FACILITIES DISTRICT NO. 2003-1, INCLUDING

CERTAIN ANNEXATION TERRITORY
Department: Finance

4.4. Annexation of Territory commonly known as LGI Homes' Esplanade into Community Facilities District No. 2020-1, Submitting the Levy of Special Tax to the Qualified Electors, Declaring Results of the Election, and Authorizing the Levy of Special Taxes for Annexation No. 14

RECOMMENDATION
Staff recommends that the City Council:

1. Hold the Public Hearing related to the Annexation of Territory into CFD 2020-1.

2. Adopt Resolution No. 4018, calling a Special Election and authorizing the annexation of territory into CFD 2020-1 and the levy of a Special Tax, and submitting the levy of Special Tax to the Qualified Electors.

City of San Jacinto Page 7 Updated 3/28/2024 4:34 PM

3. Call upon the City Clerk to conduct the Special Annexation Landowner Election.

4. Adopt Resolution No. 4019, declaring the results of a Special Annexation Landowner Election and directing the recording of an amended Notice of Special Tax Lien.

5. Introduce Ordinance No. 24-09, levying a Special Tax within CFD 2020-1, including Annexation No. 14, for a first reading:

ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN

JACINTO AUTHORIZING THE LEVY OF SPECIAL TAXES IN A

COMMUNITY FACILITIES DISTRICT, INCLUDING CERTAIN
ANNEXATION TERRITORY IDENTIFIED AS ANNEXATION NO. 14
(TAX ZONE NO. 15), INTO SAN JACINTO COMMUNITY FACILITIES DISTRICT NO. 2020-1.

Department: Finance

4.5. Annexation of Territory commonly known as Popeyes into Community Facilities District No. 2020-1, Submitting the Levy of Special Tax to the Qualified Electors, Declaring Results of the Election, and Authorizing the Levy of Special Taxes for Annexation No. 15

RECOMMENDATION
Staff recommends that the City Council:

1. Hold the Public Hearing related to the Annexation of Territory into CFD 2020-1.

2. Adopt Resolution No. 4020, calling a Special Election and authorizing the annexation of territory into CFD 2020-1 and the levy of a Special Tax, and submitting the levy of Special Tax to the Qualified Electors.

3. Call upon the City Clerk to conduct the Special Annexation Landowner Election.

4. Adopt Resolution No. 4021, declaring the results of a Special Annexation Landowner Election and directing the recording of an amended Notice of Special Tax Lien.

City of San Jacinto Page 8 Updated 3/28/2024 4:34 PM

5. Introduce Ordinance No. 24-10, levying a Special Tax within CFD 2020-1, including Annexation No. 15, for a first reading:

ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN

JACINTO AUTHORIZING THE LEVY OF SPECIAL TAXES IN A

COMMUNITY FACILITIES DISTRICT, INCLUDING CERTAIN
ANNEXATION TERRITORY IDENTIFIED AS ANNEXATION NO. 15
(TAX ZONE NO. 16), INTO SAN JACINTO COMMUNITY FACILITIES DISTRICT NO. 2020-1.

Department: Finance

5. DISCUSSION ITEMS

5.1. Ordinance No. 24-05 An Ordinance Regarding Camping on Public Property RECOMMENDATION:

Staff recommends that the City Council conduct a first reading, by title only, of Ordinance No. 24-05 regulating camping on public property:

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN
JACINTO, CALIFORNIA AMENDING SECTION 9.08.010 OF CHAPTER

9.08 OF TITLE 9, ADDING CHAPTER 9.10 TO TITLE 9, AND ADDING SECTION 12.24.065 TO CHAPTER 24 OF TITLE 12 OF THE SAN

JACINTO MUNICIPAL CODE RELATING TO CAMPING ON PUBLIC

PROPERTY
Department: City Attorney

5.2. Purchasing Ordinance Cleanup
RECOMMENDATION:

Staff recommends that the City Council conduct a first reading by title only of Ordinance No. 24-04:

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY
OF SAN JACINTO AMENDING CHAPTER 3.08 OF THE

SAN JACINTO MUNICIPAL CODE RELATED TO

BIDDING, CONTRACTING AND PURCHASE OF

SUPPLIES, SERVICES AND EQUIPMENT
Department: Finance
City of San Jacinto Page 9 Updated 3/28/2024 4:34 PM

5.3. Approval of the Ramona Expressway Striping, Mountain Avenue Striping, and Vernon Avenue Traffic Calming Project
RECOMMENDATION:

Staff recommends the City Council take the following actions:

1. Approve the plans and specifications for the Ramona Expressway Striping, Mountain Avenue Striping, and Vernon Avenue Traffic Calming Project;

2. Award the construction contract to the lowest responsible bidder submitting a responsive bid WGJ Enterprises Inc., dba PCI for the sum of $106,602.88;

3. Appropriate $127,924 from Measure A, Fund 022

4. Allocate 10% of total bid for administration, inspection, and testing;

5. Allocate 10% of the total bid for construction contingencies; and

6. Authorize the City Manager to execute the construction contract.

Department: Engineering

6. FUTURE REQUESTS FROM CITY COUNCIL TO STAFF

7. ADJOURNMENT
DOCUMENTS RELATED TO OPEN SESSION AGENDAS (SB343) - Any public record, relating to an open session agenda item, that is distributed within 72 hours prior to the meeting is available for public inspection at the public counter located in the Administration Building of City Hall, 595 S. San Jacinto Avenue, San Jacinto, CA 92583.

I, Julia Espinoza, City Clerk of the City of San Jacinto, do hereby certify that I caused to be posted the foregoing agenda this 28th day of March 2024, as requested by law.

Julia Espinoza, City Clerk
April 2, 2024
TO: City Council
REQUESTED BY: Julia Espinoza, City Clerk
APPROVED BY: Robert A. Johnson, City Manager
SUBJECT: Regular Meeting Minutes of March 19, 2024
RECOMMENDATION:

Staff recommends that the City Council approve the City Council Regular Meeting Minutes of March 19, 2024.

ATTACHMENTS:

March 19, 2024 City Council Regular Meeting Minutes

3.A.2
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City Council Regular Meeting Action Minutes March 19, 2024

PHIL AYALA, MAYOR

VALERIE VANDEVER, MAYOR PRO TEM

ALONSO LEDEZMA, COUNCILMEMBER

BRIAN HAWKINS, COUNCILMEMBER

CRYSTAL RUIZ, COUNCILMEMBER

ACTION MINUTES
CITY COUNCIL – REGULAR MEETING
TUESDAY, MARCH 19, 2023
6:30 PM OPEN SESSION
LIVE STREAM LINK: https://vimeo.com/user115670369

COMMUNITY CENTER
625 S. PICO AVENUE
SAN JACINTO, CA 92583
951-487-7330

1. ORGANIZATION
Mayor Phil Ayala called the meeting to order at 6:33 p.m.

1.1. Roll Call
City Clerk Julia Espinoza conducted the roll call:

Present: Mayor Phil Ayala, Mayor Pro Tem Valerie Vandever, Councilmember Crystal Ruiz, Councilmember Brian Hawkins, and Councilmember Alonso Ledezma

1.2. Invocation
Councilmember Ruiz gave the invocation.

1.3. Pledge of Allegiance
Councilmember Ledezma led the Pledge of Allegiance.

1.4. Special Presentation(s)

1.4.1 Employee Recognition

1.4.2 Proclamation for Women’s History Month 2024

1.5. Mayor/Council Member Reports
Councilmembers provided their reports.

3.A.2.a
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Attachment: March 19, 2024 City Council Regular Meeting Minutes (Regular Meeting Minutes of March 19, 2024)

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City Council Regular Meeting Action Minutes March 19, 2024

1.6. Late Items
There were no late items. There will be an adjustment to the agenda. Item 3.A.7 will be moved to Discussion Item 4.2.

2. PUBLIC COMMENTS
There were five (5) public comments:
• Gary Dorame
• Muriel Dufresne
• Veronica Hawkes
• Dr. Stephanie Bruce
• Ernesto Alvarado

3. CONSENT CALENDAR

3.A. Consent Calendar - City Council

3.A.1. Waiver of Full Reading of Ordinance(s), and Reading by Title Only

3.A.2. Minutes of the Regular City Council Meeting of March 5, 2024/City Clerk/Approved

3.A.3. Warrants and Disbursements - February 2024/Finance/Approved

3.A.4. Approved Approve Amendment No. 1 to Subdivision Agreement for Completion of Public Improvements for Tract 37230 – Century Communities of California, LLC/Engineering/Approved

3.A.5. Approve Amendment No. 2 to Subdivision Agreement for Completion of Public Improvements for Tract 37229 – Century Communities of California, LLC/Engineering/Approved

3.A.6. Supplemental Appropriation for the Replacement of Two CalSense Controllers at LLPD2 Zone 76/Parks/Approved

3.A.7. Ordinance No. 24-06. An Ordinance Adding Chapter 9.46 to Title 9 of the San Jacinto Municipal Code Establishing Regulations Prohibiting the Unlawful Possession of Catalytic Converters in the City/City Attorney/Item was moved to Discussion Item 4.2
M/S/C (Ledezma/Hawkins) to approve the Consent Calendar. Motion carried 5/0.

Ayes: Vandever, Ledezma, Ruiz, Hawkins, Ayala
Nays: None

Absent: None
Abstain: None

3.A.2.a
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Attachment: March 19, 2024 City Council Regular Meeting Minutes (Regular Meeting Minutes of March 19, 2024)

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City Council Regular Meeting Action Minutes March 19, 2024

4. DISCUSSION ITEMS

4.1. AD 2003-1, 2023 Maintenance Cycle Project
Contract City Engineer Stuart McKibbin presented the staff report.

M/S/C (Ruiz/Ledezma) made a motion to approve the plans and specifications for the AD 2003-1, 2023 MAINTENANCE CYCLE Project, reject the bid protest of VSS International, Inc. as meritless, award the construction contract to the lowest responsible bidder submitting a responsive bid, American Asphalt South, Inc., for the sum of $2,495,489.60, appropriate funding for the maintenance projects in the various zone funds, allocate 10% of the total bid for each bid schedule for administration, inspection, and testing, allocate 10% of the total bid for each bid schedule for construction contingencies, and authorize the City Manager to execute the construction contract. Motion carried 5/0.

Ayes: Hawkins, Vandever, Ruiz, Ledezma, Ayala
Nays: None

Absent: None
Abstain: None

4.2. Ordinance No. 24-06. An Ordinance Adding Chapter 9.46 to Title 9 of the San Jacinto Municipal Code Establishing Regulations Prohibiting the Unlawful Possession of Catalytic Converters in the City
City Attorney Craig Hayes presented the staff report.

There was one (1) public comment:
• Daryl Terrell
M/S/C (Ruiz/Vandever) made a motion to conduct a first reading by title only of Ordinance No. 24-06: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN JACINTO, CALIFORNIA, ADDING CHAPTER 9.46 (UNLAWFUL
POSSESSION OF A CATALYTIC CONVERTER PROHIBITED) TO TITLE 9 (PUBLIC PEACE, MORALS, AND WELFARE) OF THE SAN JACINTO

MUNICIPAL CODE, ESTABLISHING REGULATIONS PROHIBITING THE UNLAWFUL POSSESSION OF CATALYTIC CONVERTERS IN THE CITY.

Motion carried 5/0.

Ayes: Ruiz, Ledezma, Hawkins, Vandever, Ayala
Nays: None

Absent: None
Abstain: None

3.A.2.a
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Attachment: March 19, 2024 City Council Regular Meeting Minutes (Regular Meeting Minutes of March 19, 2024)

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City Council Regular Meeting Action Minutes March 19, 2024

5. CITY MANAGER UPDATE

6. FUTURE REQUESTS FROM CITY COUNCIL TO CITY MANAGER

7. ADJOURNMENT
With no further business before the City Council, Mayor Ayala adjourned the meeting at 8:00 p.m. in honor of Assemblymember Brian Nestande.

CITY OF SAN JACINTO:
_________________________
Phil Ayala, Mayor
ATTEST:
_________________________
Julia Espinoza, City Clerk
Approved as read:

Approved as amended:

3.A.2.a
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Attachment: March 19, 2024 City Council Regular Meeting Minutes (Regular Meeting Minutes of March 19, 2024) April 2, 2024
TO: City Council
REQUESTED BY: Tom Prill, Deputy City Manager
APPROVED BY: Robert A. Johnson, City Manager
SUBJECT: Treasurer’s Report at February 29, 2024
RECOMMENDATION:

Staff recommends that the City Council receive and file Treasurer’s Report for the month ending February 29, 2024.

BACKGROUND:

The Treasurer’s Report is required to be presented to the governing body at least quarterly in accordance with California Government Code Section 53600 et. seq.

DISCUSSION:

Total Cash and City Investments decreased 1.59% during the month. This includes cash, cash in the bank, and cash with the trustee.

The attached Treasurer’s report is a “snapshot” report of our cash position on the last day of the month in all of our accounts. A section demonstrating compliance with the adopted Investment Policy and a chart depicting historical interest rates for certain positions is also included.

Detailed statements of investments from Chandler Asset Management and Public Trust Advisors have also been included.

FISCAL IMPACT:

None.

ATTACHMENTS:

08. 2023-24 Feb Treasurers Report with signature

3.A.3
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3.A.3.a
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Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024)

3.A.3.a
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Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, -

0.500

1.000

1.500

2.000

2.500

3.000

3.500

4.000

4.500
3/214/215/216/217/218/219/21
10/2111/2112/21
1/222/223/224/225/226/227/228/229/22
10/2211/2212/2201/2302/2303/2304/2305/2306/2307/2308/2309/2310/2311/2312/23 1/242/24
Interest Rates - 03/2021 to 02/2024
LAIF
LAMMA-BoH
MMA-Mech
PIMMA-Mech
Chandler
PTA

3.A.3.a
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Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024)

MONTHLY ACCOUNT STATEMENT
City of San Jacinto California | Account #10167 | As of February 29, 2024 CHANDLER ASSET MANAGEMENT | chandlerasset.com
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Custodian:

US Bank

3.A.3.a
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Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 2
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Performance Review
Account Summary
Maturity Distribution
Top Issuers
Credit Quality
Total Rate of Return 1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS Since Inception (07/01/12)
City of San Jacinto California (0.65%) 1.21% (0.27%) 4.60% 0.46% (0.34%) 1.17% 1.11% 1.05% Benchmark Return* (0.72%) 1.11% (0.36%) 4.10% (0.10%) (0.73%) 0.75% 0.79% 0.76% Average Modified Duration 2.58
Average Coupon 2.64%
Average Purchase YTM 2.68%
Average Market YTM 4.73%
Average Quality AA+
Average Final Maturity 2.86
Average Life 2.84
Beg. Values as of
02/01/2024
End Values as of
02/29/2024
Market Value 11,147,946.89 11,073,072.14
Accrued Interest 78,772.95 79,209.73
Total Market Value 11,226,719.84 11,152,281.86
Income Earned 23,882.92 23,961.20
Cont/WD 0.00 0.00
Par 11,448,003.41 11,474,587.68
Book Value 11,418,800.94 11,441,884.46
Cost Value 11,454,569.75 11,453,631.94
United States 38.20%
Federal Home Loan Banks 10.69%
FNMA 8.69%
Farm Credit System 5.95%
FHLMC 5.31%
Inter-American Development Bank 3.48%
Apple Inc. 1.82%
Walmart Inc. 1.75%
*Periods over 1 year are annualized.

Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index Secondary Benchmark:
*See Footnote
The credit quality is a weighted average calculation of the highest of S&P, Moody’s’ and Fitch

3.A.3.a
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Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 3
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES (CMOS)
Max % (MV; ABS, CMO, & MBS) 20.0 1.9 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV; ABS, CMO & MBS) 20.0 1.9 Compliant
Max % Issuer (MV) 5.0 0.4 Compliant
Max Maturity (Years)52 Compliant
Min Rating (AA- by 2; A- Issuer by 2) 0.0 0.0 Compliant

BANKERS' ACCEPTANCES
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant
Min Rating (A- by 2, A-1 by 2) 0.0 0.0 Compliant

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE (CDARS)
Max % (MV) 30.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COLLATERALIZED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

COMMERCIAL PAPER
Max % (MV) 25.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by 2, A by 2) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 25.2 Compliant
Max % Issuer (MV) 5.0 1.8 Compliant
Max Maturity (Years)54 Compliant
Min Rating (A- by 2) 0.0 0.0 Compliant

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE CD/
TD)
Max % (MV) 20.0 0.0 Compliant

3.A.3.a
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Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 4
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years)5 0.0 Compliant

FEDERAL AGENCIES
Max % (MV) 100.0 30.7 Compliant
Max Maturity (Years)54 Compliant

JOINT POWERS AUTHORITY (JPA)
Max % (MV) 50.0 0.0 Compliant

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max % (MV) 70.0 0.0 Compliant

LOCAL GOVERNMENT INVESTMENT POOL (LGIP)
Max % (MV) 70.0 0.0 Compliant

MAX CALLABLE SECURITIES
Max Callables (MV) 20.0 16.9 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 0.6 Compliant
Max % Issuer (MV) 20.0 0.6 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

MORTGAGE-BACKED SECURITIES (NON-AGENCY)
Max % (MV; ABS, CMO & MBS) 20.0 1.9 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA- by 2; A issuer by 2) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years)5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years)5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUTUAL FUNDS
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 10.0 0.0 Compliant

3.A.3.a
Packet Pg. 22
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 5
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
Min Rating (AAA by 2) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years)5 0.0 Compliant
Min Rating (A- by 2 or A-1 by 2) 0.0 0.0 Compliant

REPURCHASE AGREEMENTS
Max Maturity (Years) 1.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 3.5 Compliant
Max % Issuer (MV) 10.0 3.5 Compliant
Max Maturity (Years)54 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 38.2 Compliant
Max Maturity (Years)54 Compliant

3.A.3.a
Packet Pg. 23
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 6
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

RECONCILIATION SUMMARY
Accrual Activity Summary
Fair Market Activity Summary
Month to Date Fiscal Year to Date
(07/01/2023)
Beginning Book Value 11,418,800.94 11,365,055.73
Maturities/Calls (375,000.00) (605,000.00)
Principal Paydowns (21,273.16) (229,937.61)
Purchases 823,246.57 3,825,681.90
Sales (404,676.36) (2,845,765.96)
Change in Cash, Payables, Receivables 597.06 794.36
Amortization/Accretion 189.43 (5,459.69)
Realized Gain (Loss) (0.02) (63,484.28)
Ending Book Value 11,441,884.46 11,441,884.46
Month to Date Fiscal Year to Date
(07/01/2023)
Beginning Market Value 11,147,946.89 10,748,702.37
Maturities/Calls (375,000.00) (605,000.00)
Principal Paydowns (21,273.16) (229,937.61)
Purchases 823,246.57 3,825,681.90
Sales (404,676.36) (2,845,765.96)
Change in Cash, Payables, Receivables 597.06 794.36
Amortization/Accretion 189.43 (5,459.69)
Change in Net Unrealized Gain (Loss) (97,958.27) 247,541.05 Realized Gain (Loss) (0.02) (63,484.28)
Ending Market Value 11,073,072.14 11,073,072.14
Maturities / Calls
Month to Date (375,000.00)
Fiscal Year to Date (605,000.00)
Principal Paydowns
Month to Date (21,273.16)
Fiscal Year to Date (229,937.61)
Purchases
Month to Date 823,246.57
Fiscal Year to Date 3,825,681.90
Sales
Month to Date (404,676.36)
Fiscal Year to Date (2,845,765.96)
Interest Received
Month to Date 24,181.09
Fiscal Year to Date 155,520.85
Purchased / Sold Interest
Month to Date (846.09)
Fiscal Year to Date (2,420.73)

3.A.3.a
Packet Pg. 24
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 7
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
ABS
05601XAC3 BMWLT 2022-1 A3 1.03 03/25/2025 2,239.55 01/11/2022

1.12%
2,239.22
2,239.46

99.70 2.74%
2,232.82

0.41 0.02%
(6.64)
NA/AAA
AAA

1.07 0.07
43813GAC5 HAROT 2021-1 A3 0.27 04/21/2025 2,941.14 02/17/2021

0.37%
2,941.08
2,941.13

99.25 4.44%
2,918.99

0.22 0.03%
(22.14)
Aaa/NA
AAA

1.14 0.21
89240BAC2 TAOT 2021-A A3 0.26 05/15/2025 7,697.85 02/02/2021

0.27%
7,696.42
7,697.56

99.32 4.42%
7,645.71

0.89 0.07%
(51.86)
Aaa/NA
AAA

1.21 0.19
47788UAC6 JDOT 2021 A3 0.36 09/15/2025 8,282.28 03/02/2021

0.37%
8,280.68
8,281.83

98.53 5.21%
8,160.51

1.33 0.07%
(121.32)
Aaa/NA
AAA

1.54 0.32
43815GAC3 HAROT 2021-4 A3 0.88 01/21/2026 20,750.36 11/16/2021

0.89%
20,745.99
20,748.57

97.34 4.75%
20,198.92

5.07 0.18%
(549.65)
Aaa/NA
AAA

1.90 0.71
47789QAC4 JDOT 2021-B A3 0.52 03/16/2026 22,171.00 07/13/2021

0.52%
22,169.02
22,170.47

97.50 5.17%
21,616.32

5.12 0.20%
(554.16)
Aaa/NA
AAA

2.04 0.56
89238JAC9 TAOT 2021-D A3 0.71 04/15/2026 21,260.51 11/09/2021

0.95%
21,260.05
21,260.37

97.43 4.42%
20,713.78

6.71 0.19%
(546.59)
NA/AAA
AAA

2.13 0.74
43815BAC4 HAROT 2022-1 A3 1.88 05/15/2026 51,217.69 02/15/2022

1.89%
51,209.99
51,213.98

97.57 4.82%
49,973.49

42.80 0.45%
(1,240.50)
Aaa/AAA
NA

2.21 0.86
47787JAC2 JDOT 2022 A3 0.36 09/15/2026 32,888.04 03/10/2022

2.34%
32,880.76
32,884.18

97.82 5.11%
32,171.75

33.91 0.29%
(712.43)
Aaa/NA
AAA

2.54 0.81
47800AAC4 JDOT 2022-B A3 3.74 02/16/2027 45,000.00 07/12/2022

3.77%
44,995.70
44,997.57

98.42 5.20%
44,287.88

74.80 0.40%
(709.69)
Aaa/NA
AAA

2.97 1.13
Total ABS 214,448.40 1.88%
214,418.91
214,435.13

97.89 4.91%
209,920.16
171.26

1.90%
(4,514.97)
Aaa/AAA
AAA

2.28 0.79
AGENCY
3130A3GE8 FEDERAL HOME LOAN BANKS 2.75
12/13/2024 250,000.00 12/16/20191.79%
261,672.50
251,837.63

98.17 5.26%
245,412.93
1,489.58

2.22%
(6,424.70)
Aaa/AA+
AA+

0.79 0.76
3135G0X24 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 1.625 01/07/2025 225,000.00 01/16/20201.69% 224,298.00
224,879.46

97.10 5.13%
218,484.09
548.44

1.97%
(6,395.37)
Aaa/AA+
AA+

0.86 0.82
3137EAEP0 FEDERAL HOME LOAN MORTGAGE
CORP 1.5 02/12/2025 245,000.00 02/13/20201.52%
244,811.35
244,964.03

96.68 5.16%
236,873.35
193.96

2.14%
(8,090.68)
Aaa/AA+
AA+

0.96 0.92
3135G03U5 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.625 04/22/2025 310,000.00 --0.63%
309,949.40
309,990.49

95.24 5.05%
295,253.06
694.27

2.67%
(14,737.44)
Aaa/AA+
AA+

1.15 1.11
3130AJKW8 FEDERAL HOME LOAN BANKS 0.5
06/13/2025 225,000.00 06/24/20200.52%
224,824.50
224,954.63

94.58 4.92%
212,800.63
243.75

1.92%
(12,154.00)
Aaa/AA+
AA+

1.29 1.25

3.A.3.a
Packet Pg. 25
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 8
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
3137EAEU9 FEDERAL HOME LOAN MORTGAGE
CORP 0.375 07/21/2025 145,000.00 07/21/20200.48%
144,277.90
144,799.28

94.15 4.95%
136,521.18

60.42 1.23%
(8,278.10)
Aaa/AA+
AA+

1.39 1.35
3135G05X7 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.375 08/25/2025 230,000.00 08/25/20200.47% 228,923.60
229,680.15

93.69 4.92%
215,498.28

14.38 1.95%
(14,181.87)
Aaa/AA+
AA+

1.49 1.44
3137EAEX3 FEDERAL HOME LOAN MORTGAGE
CORP 0.375 09/23/2025 230,000.00 09/23/20200.44%
229,307.70
229,783.28

93.41 4.87%
214,831.90
378.54

1.94%
(14,951.38)
Aaa/AA+
AA+

1.57 1.52
3135G06G3 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.5 11/07/2025 250,000.00 11/09/20200.57%
249,105.00
249,697.24

93.23 4.77%
233,074.82
395.83

2.10%
(16,622.42)
Aaa/AA+
AA+

1.69 1.64
3130ATS57 FEDERAL HOME LOAN BANKS 4.5
03/10/2028 325,000.00 --3.91%
333,444.50
331,894.96
100.55

4.37%
326,774.33
6,946.88

2.95%
(5,120.63)
Aaa/AA+
AA+

4.03 3.57
3130AWC24 FEDERAL HOME LOAN BANKS 4.0
06/09/2028 200,000.00 06/27/20234.11%
198,982.00
199,121.07

98.81 4.33%
197,611.35
1,822.22

1.78%
(1,509.72)
Aaa/AA+
AA+

4.28 3.85
3130AWTR1 FEDERAL HOME LOAN BANKS 4.375
09/08/2028 200,000.00 09/12/20234.49%
198,987.00
199,081.01
100.48

4.36%
200,954.15
5,031.25

1.81%
1,873.14
Aaa/AA+
AA+

4.53 3.96
3133EPWK7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 09/22/2028 200,000.00 09/27/20234.76%
197,716.00
197,910.41
100.46

4.41%
200,929.14
3,975.00

1.81%
3,018.73
Aaa/AA+
AA+

4.56 4.00
3133EPC45 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.625 11/13/2028 230,000.00 11/27/20234.46% 231,646.80
231,561.37
101.47

4.30%
233,380.54
3,191.25

2.11%
1,819.17
Aaa/AA+
AA+

4.71 4.14
3133EPN50 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.25 12/15/2028 225,000.00 12/18/20234.00% 227,499.75
227,399.65

99.82 4.32%
224,585.93
2,018.75

2.03%
(2,813.72)
Aaa/AA+
AA+

4.79 4.25
Total Agency 3,490,000.00 2.28%
3,505,446.00
3,497,554.66

97.30 4.74%
3,392,985.69
27,004.51

30.64%
(104,568.97)
Aaa/AA+
AA+

2.54 2.31
CASH
CCYUSD Receivable 1,029.16 --

0.00%
1,029.16
1,029.16

1.00 0.00%
1,029.16

0.00 0.01%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 1,029.16 0.00%
1,029.16
1,029.16

1.00 0.00%
1,029.16

0.00 0.01%

0.00 Aaa/AAA
AAA

0.00 0.00

CORPORATE
808513BN4 CHARLES SCHWAB CORP 0.75
03/18/2024 40,000.00 03/16/20210.77%
39,980.00
39,999.69

99.80 7.08%
39,918.00
135.83

0.36%
(81.69)
A2/AA0.05

0.05 023135BW5 AMAZON.COM INC 0.45 05/12/2024 90,000.00 05/10/2021

0.50%
89,868.60
89,991.37

99.06 5.77%
89,157.87
122.62

0.81%
(833.50)
A1/AA
AA0.200.20
46625HJX9 JPMORGAN CHASE & CO 3.625
05/13/2024 145,000.00 12/19/20192.25%
153,560.80
145,390.10

99.60 5.65%
144,420.36
1,576.88

1.30%
(969.74)
A1/AAA0.20

0.20 3.A.3.a
Packet Pg. 26
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 9
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
78015K7H1 ROYAL BANK OF CANADA 1.15
06/10/2025 200,000.00 10/14/20211.17%
199,878.00
199,957.29

94.96 5.28%
189,926.65
517.50

1.72%
(10,030.64)
A1/A
AA1.281.23
931142EW9 WALMART INC 3.9 09/09/2025 30,000.00 09/06/2022

3.92%
29,979.00
29,989.33

98.47 4.92%
29,540.68
559.00

0.27%
(448.65)
Aa2/AA
AA

1.53 1.43
857477BR3 STATE STREET CORP 1.746
02/06/2026 35,000.00 02/02/20221.75%
35,000.00
35,000.00

96.40 5.79%
33,740.03

42.44 0.30%
(1,259.97)
A1/A
AA1.940.90
91324PEC2 UNITEDHEALTH GROUP INC 1.15
05/15/2026 30,000.00 --1.08%
30,097.10
30,042.67

92.10 4.89%
27,628.57
101.58

0.25%
(2,414.10)
A2/A+ A2.21

2.12 89236TJK2 TOYOTA MOTOR CREDIT CORP 1.125
06/18/2026 120,000.00 06/15/20211.13%
119,947.20
119,975.74

91.77 4.96%
110,124.84
273.75

0.99%
(9,850.90)
A1/A+
A+

2.30 2.21
61747YET8 MORGAN STANLEY 4.679
07/17/2026 60,000.00 07/18/20224.68%
60,000.00
60,000.00

98.93 6.10%
59,356.38
343.13

0.54%
(643.62)
A1/AA+2.38

1.31 89114TZG0 TORONTO-DOMINION BANK 1.25
09/10/2026 200,000.00 11/17/20211.69%
195,888.00
197,838.63

91.07 5.06%
182,135.42
1,187.50

1.64%
(15,703.20)
A1/A
AA2.532.41
931142ER0 WALMART INC 1.05 09/17/2026 30,000.00 09/08/2021

1.09%
29,943.30
29,971.13

91.36 4.71%
27,406.78
143.50

0.25%
(2,564.34)
Aa2/AA
AA

2.55 2.45
87612EBM7 TARGET CORP 1.95 01/15/2027 65,000.00 01/19/2022

1.99%
64,889.50
64,936.15

92.47 4.79%
60,106.49
161.96

0.54%
(4,829.65)
A2/AA2.88

2.73 037833CJ7 APPLE INC 3.35 02/09/2027 210,000.00 10/05/2022

4.37%
201,528.60
204,258.04

96.20 4.66%
202,030.10
429.92

1.82%
(2,227.94)
Aaa/AA+
NA

2.95 2.75
808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027 45,000.00 03/01/20222.47%
44,951.40
44,970.80

92.69 5.09%
41,711.95
545.12

0.38%
(3,258.85)
A2/A- A3.01

2.80 084664CZ2 BERKSHIRE HATHAWAY FINANCE
CORP 2.3 03/15/2027 130,000.00 03/07/20222.30%
129,975.30
129,985.00

93.70 4.57%
121,803.56
1,378.72

1.10%
(8,181.44)
Aa2/AA
A+

3.04 2.85
023135CF1 AMAZON.COM INC 3.3 04/13/2027 60,000.00 04/11/2022

3.34%
59,876.40
59,922.97

95.87 4.68%
57,522.73
759.00

0.52%
(2,400.24)
A1/AA
AA3.122.88
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 130,000.00 09/28/20224.70%
126,240.40
127,397.54

97.16 4.90%
126,306.17
1,603.33

1.14%
(1,091.37)
A2/A+
A+

3.19 2.92
91324PEG3 UNITEDHEALTH GROUP INC 3.7
05/15/2027 50,000.00 05/17/20223.69%
50,025.40
50,014.13

96.84 4.72%
48,418.21
544.72

0.44%
(1,595.92)
A2/A+ A3.21

2.95 931142EX7 WALMART INC 3.95 09/09/2027 140,000.00 10/05/2022

4.51%
136,557.40
137,535.80

98.03 4.59%
137,235.55
2,642.11

1.24%
(300.25)
Aa2/AA
AA

3.53 3.18
438516CJ3 HONEYWELL INTERNATIONAL INC

4.95 02/15/2028 135,000.00 02/13/20234.44%
138,028.05
137,387.01
101.01

4.60%
136,368.77
297.00

1.23%
(1,018.25)
A2/AA3.96

3.49 57636QAW4 MASTERCARD INC 4.875
03/09/2028 70,000.00 03/06/20234.90%
69,932.10
69,945.40
101.12

4.50%
70,782.27
1,630.42

0.64%
836.87
Aa3/A+
NA

4.02 3.47

3.A.3.a
Packet Pg. 27
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 10
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
06051GKP3 BANK OF AMERICA CORP 4.376
04/27/2028 135,000.00 08/30/20235.60%
129,575.70
130,319.26

97.22 5.61%
131,242.73
2,034.84

1.19%
923.47
A1/AAA4.16

2.86 74456QBU9 PUBLIC SERVICE ELECTRIC AND GAS
CO 3.7 05/01/2028 150,000.00 06/27/20234.77%
143,142.00
144,096.22

95.65 4.91%
143,476.23
1,850.00

1.30%
(620.00)
A1/A
WR

4.17 3.75
341081GN1 FLORIDA POWER & LIGHT CO 4.4
05/15/2028 150,000.00 06/27/20234.78%
147,565.50
147,901.58

98.18 4.77%
147,277.45
1,943.33

1.33%
(624.12)
Aa2/A+
AA4.213.74
58933YBH7 MERCK & CO INC 4.05 05/17/2028 30,000.00 05/08/2023

4.07%
29,975.70
29,979.54

98.02 4.58%
29,405.24
351.00

0.27%
(574.30)
A1/A+
NA

4.21 3.78
74340XCG4 PROLOGIS LP 4.875 06/15/2028 170,000.00 --

5.09%
168,446.95
168,616.11

99.88 4.91%
169,791.50
1,749.58

1.53%
1,175.39
A3/A
NA

4.29 3.79
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029 145,000.00 01/24/20244.64%
144,763.65
144,767.53

98.94 4.77%
143,460.41
574.36

1.30%
(1,307.12)
A1/A+
NA

4.92 4.33
532457CK2 ELI LILLY AND CO 4.5 02/09/2029 85,000.00 02/07/2024

4.51%
84,943.90
84,944.54

99.43 4.61%
84,513.47
233.75

0.76%
(431.07)
A1/A+
NA

4.95 4.37
Total Corporate 2,880,000.00 3.46%
2,854,559.95
2,855,133.56

96.78 5.00%
2,784,808.44
23,732.90

25.15%
(70,325.12)
A1/A+
A+

3.03 2.68

MONEY MARKET
FUND
31846V203 FIRST AMER:GVT OBLG Y 69,110.12 --

4.91%
69,110.12
69,110.12

1.00 4.91%
69,110.12

0.00 0.62%

0.00 Aaa/
AAAm
AAA

0.00 0.00
Total Money
Market Fund 69,110.12 4.91%
69,110.12
69,110.12

1.00 4.91%
69,110.12

0.00 0.62%

0.00 Aaa/
AAAm
AAA

0.00 0.00

SUPRANATIONAL
4581X0DV7 INTER-AMERICAN DEVELOPMENT
BANK 0.875 04/20/2026 230,000.00 04/13/20210.97%
228,946.60
229,550.03

92.39 4.73%
212,501.99
732.33

1.92%
(17,048.04)
Aaa/AAA
NA

2.14 2.06
4581X0EN4 INTER-AMERICAN DEVELOPMENT
BANK 4.125 02/15/2029 175,000.00 02/15/20244.32%
173,446.00
173,454.53

98.88 4.41%
173,032.01
621.61

1.56%
(422.52)
Aaa/AAA
NA

4.96 4.42
Total
Supranational 405,000.00 2.47%
402,392.60
403,004.56

95.30 4.59%
385,533.99
1,353.94

3.48%
(17,470.56)
Aaa/AAA
NA

3.41 3.12

US TREASURY

3.A.3.a
Packet Pg. 28
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 11
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
912828ZT0 UNITED STATES TREASURY 0.25
05/31/2025 230,000.00 06/04/20200.39%
228,373.83
229,592.79

94.39 4.98%
217,107.42
144.54

1.96%
(12,485.37)
Aaa/AA+
AA+

1.25 1.22
9128284Z0 UNITED STATES TREASURY 2.75
08/31/2025 155,000.00 06/24/20210.73%
167,950.98
159,644.73

97.03 4.86%
150,392.38

11.58 1.36%
(9,252.34)
Aaa/AA+
AA+

1.50 1.44
9128285C0 UNITED STATES TREASURY 3.0
09/30/2025 200,000.00 02/25/20221.88%
207,804.69
203,443.59

97.31 4.84%
194,625.00
2,508.20

1.76%
(8,818.59)
Aaa/AA+
AA+

1.59 1.50
91282CAZ4 UNITED STATES TREASURY 0.375
11/30/2025 240,000.00 12/15/20200.37%
240,018.75
240,006.62

92.77 4.79%
222,656.25
226.23

2.01%
(17,350.37)
Aaa/AA+
AA+

1.75 1.70
91282CBC4 UNITED STATES TREASURY 0.375
12/31/2025 250,000.00 01/28/20210.41%
249,541.02
249,828.87

92.52 4.73%
231,289.06
157.11

2.09%
(18,539.81)
Aaa/AA+
AA+

1.84 1.78
91282CBQ3 UNITED STATES TREASURY 0.5
02/28/2026 250,000.00 03/24/20210.82%
246,123.05
248,430.70

92.20 4.70%
230,488.28

3.40 2.08%
(17,942.42)
Aaa/AA+
AA+

2.00 1.94
91282CBT7 UNITED STATES TREASURY 0.75
03/31/2026 250,000.00 --0.86%
248,714.06
249,445.92

92.46 4.64%
231,152.34
783.81

2.09%
(18,293.57)
Aaa/AA+
AA+

2.08 2.02
91282CCP4 UNITED STATES TREASURY 0.625
07/31/2026 300,000.00 08/25/20210.82%
297,152.34
298,604.64

91.17 4.57%
273,515.62
154.53

2.47%
(25,089.02)
Aaa/AA+
AA+

2.42 2.35
9128282A7 UNITED STATES TREASURY 1.5
08/15/2026 150,000.00 09/23/20210.91%
154,230.47
152,124.71

93.06 4.57%
139,587.89

92.72 1.26%
(12,536.82)
Aaa/AA+
AA+

2.46 2.37
912828V98 UNITED STATES TREASURY 2.25
02/15/2027 130,000.00 03/29/20222.53%
128,334.38
128,990.16

94.02 4.47%
122,230.47
120.54

1.10%
(6,759.69)
Aaa/AA+
AA+

2.96 2.81
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027 225,000.00 05/25/20222.73%
222,626.95
223,491.71

94.55 4.44%
212,748.05
2,351.43

1.92%
(10,743.66)
Aaa/AA+
AA+

3.08 2.89
91282CET4 UNITED STATES TREASURY 2.625
05/31/2027 215,000.00 --3.35%
207,938.48
210,306.68

94.66 4.44%
203,510.94
1,418.65

1.84%
(6,795.74)
Aaa/AA+
AA+

3.25 3.04
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 350,000.00 11/21/20224.00%
351,886.72
351,391.89

99.19 4.40%
347,169.92
6,035.35

3.14%
(4,221.97)
Aaa/AA+
AA+

3.59 3.24
91282CFZ9 UNITED STATES TREASURY 3.875
11/30/2027 275,000.00 01/24/20233.59%
278,501.95
277,708.57

98.34 4.39%
270,434.57
2,678.62

2.44%
(7,274.00)
Aaa/AA+
AA+

3.75 3.41
91282CGT2 UNITED STATES TREASURY 3.625
03/31/2028 245,000.00 --3.94%
241,623.04
242,108.26

97.39 4.36%
238,597.46
3,712.65

2.15%
(3,510.80)
Aaa/AA+
AA+

4.08 3.69
91282CHQ7 UNITED STATES TREASURY 4.125
07/31/2028 220,000.00 09/15/20234.46%
216,768.75
217,068.61

99.30 4.33%
218,461.72
747.94

1.97%
1,393.11
Aaa/AA+
AA+

4.42 3.98
91282CHX2 UNITED STATES TREASURY 4.375
08/31/2028 180,000.00 09/27/20234.69%
177,532.03
177,744.67
100.32

4.32%
180,576.56

21.40 1.63%
2,831.89
Aaa/AA+
AA+

4.50 4.04
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 225,000.00 10/30/20234.81%
225,667.97
225,623.37
102.45

4.31%
230,501.95
3,676.34

2.08%
4,878.59
Aaa/AA+
AA+

4.67 4.08

3.A.3.a
Packet Pg. 29
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 12
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P
Fitch
Maturity
Duration
9128285M8 UNITED STATES TREASURY 3.125
11/15/2028 175,000.00 01/17/20244.05%
167,965.82
168,137.39

95.07 4.32%
166,373.05
1,607.57

1.50%
(1,764.34)
Aaa/AA+
AA+

4.71 4.27
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 150,000.00 02/26/20244.31%
147,919.92
147,923.39

98.84 4.29%
148,265.62
494.51

1.34%
342.24
Aaa/AA+
AA+

4.92 4.40
Total US Treasury 4,415,000.00 2.50%
4,406,675.20
4,401,617.27

95.91 4.54%
4,229,684.57
26,947.11

38.20%
(171,932.70)
Aaa/AA+
AA+

3.04 2.80
Total Portfolio 11,474,587.68 2.68%
11,453,631.94
11,441,884.46

95.97 4.73%
11,073,072.14
79,209.73
100.00%
(368,812.32)
Aa2/AA
AA

2.86 2.58
Total Market
Value + Accrued 11,152,281.86

3.A.3.a
Packet Pg. 30
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 13
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 02/02/2024 31846V203 432.10 FIRST AMER:GVT OBLG Y 1.000 4.93% (432.10) 0.00 (432.10) 0.00 Purchase 02/05/2024 31846V203 379,687.50 FIRST AMER:GVT OBLG Y 1.000 4.93% (379,687.50) 0.00 (379,687.50) 0.00 Purchase 02/06/2024 31846V203 305.55 FIRST AMER:GVT OBLG Y 1.000 4.93% (305.55) 0.00 (305.55) 0.00 Purchase 02/09/2024 532457CK2 85,000.00 ELI LILLY AND CO 4.5 02/09/2029 99.934 4.51% (84,943.90) 0.00 (84,943.90) 0.00 Purchase 02/12/2024 31846V203 1,837.50 FIRST AMER:GVT OBLG Y 1.000 4.93% (1,837.50) 0.00 (1,837.50) 0.00 Purchase 02/15/2024 31846V203 21,434.43 FIRST AMER:GVT OBLG Y 1.000 4.93% (21,434.43) 0.00 (21,434.43) 0.00 Purchase 02/20/2024 4581X0EN4 175,000.00

INTER-AMERICAN
DEVELOPMENT BANK 4.125
02/15/2029

99.112 4.32% (173,446.00) (401.04) (173,847.04) 0.00
Purchase 02/21/2024 31846V203 2,846.93 FIRST AMER:GVT OBLG Y 1.000 4.93% (2,846.93) 0.00 (2,846.93) 0.00 Purchase 02/26/2024 31846V203 3,698.99 FIRST AMER:GVT OBLG Y 1.000 4.92% (3,698.99) 0.00 (3,698.99) 0.00 Purchase 02/27/2024 91282CJW2 150,000.00 UNITED STATES TREASURY 4.0 01/31/2029 98.613 4.31% (147,919.92) (445.05) (148,364.97) 0.00 Purchase 02/29/2024 31846V203 6,693.75 FIRST AMER:GVT OBLG Y 1.000 4.93% (6,693.75) 0.00 (6,693.75) 0.00 Total Purchase 826,936.75 (823,246.57) (846.09) (824,092.66) 0.00 TOTAL ACQUISITIONS 826,936.75 (823,246.57) (846.09) (824,092.66) 0.00

DISPOSITIONS
Sale 02/07/2024 31846V203 (933.78) FIRST AMER:GVT OBLG Y 1.000 4.93% 933.78 0.00 933.78 0.00 Sale 02/09/2024 31846V203 (81,426.40) FIRST AMER:GVT OBLG Y 1.000 4.93% 81,426.40 0.00 81,426.40 0.00 Sale 02/20/2024 31846V203 (173,847.04) FIRST AMER:GVT OBLG Y 1.000 4.87% 173,847.04 0.00 173,847.04 0.00 Sale 02/23/2024 31846V203 (104.17) FIRST AMER:GVT OBLG Y 1.000 4.92% 104.17 0.00 104.17 0.00 Sale 02/27/2024 31846V203 (148,364.97) FIRST AMER:GVT OBLG Y 1.000 4.92% 148,364.97 0.00 148,364.97 0.00 Total Sale (404,676.36) 404,676.36 0.00 404,676.36 0.00 TOTAL DISPOSITIONS (404,676.36) 404,676.36 0.00 404,676.36 0.00 OTHER

TRANSACTIONS

3.A.3.a
Packet Pg. 31
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 14
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss Coupon 02/05/2024 3135G0V34 0.00

FEDERAL NATIONAL
MORTGAGE ASSOCIATION 2.5
02/05/2024

2.50% 4,687.50 0.00 4,687.50 0.00
Coupon 02/06/2024 857477BR3 0.00 STATE STREET CORP 1.746 02/06/2026 1.75% 305.55 0.00 305.55 0.00
Coupon 02/09/2024 037833CJ7 0.00 APPLE INC 3.35 02/09/2027 4.37% 3,517.50 0.00 3,517.50 0.00 Coupon 02/12/2024 3137EAEP0 0.00

FEDERAL HOME LOAN
MORTGAGE CORP 1.5
02/12/2025

1.52% 1,837.50 0.00 1,837.50 0.00
Coupon 02/15/2024 89240BAC2 0.00 TAOT 2021-A A3 0.26
05/15/2025 0.28% 2.24 0.00 2.24 0.00
Coupon 02/15/2024 47788UAC6 0.00 JDOT 2021 A3 0.36 09/15/2025 0.38% 2.92 0.00 2.92 0.00 Coupon 02/15/2024 47789QAC4 0.00 JDOT 2021-B A3 0.52
03/16/2026 0.52% 10.88 0.00 10.88 0.00
Coupon 02/15/2024 89238JAC9 0.00 TAOT 2021-D A3 0.71
04/15/2026 0.71% 13.65 0.00 13.65 0.00
Coupon 02/15/2024 43815BAC4 0.00 HAROT 2022-1 A3 1.88
05/15/2026 1.90% 85.98 0.00 85.98 0.00
Coupon 02/15/2024 47787JAC2 0.00 JDOT 2022 A3 0.36 09/15/2026 2.35% 68.80 0.00 68.80 0.00 Coupon 02/15/2024 47800AAC4 0.00 JDOT 2022-B A3 3.74
02/16/2027 3.77% 140.25 0.00 140.25 0.00
Coupon 02/15/2024 9128282A7 0.00 UNITED STATES TREASURY 1.5 08/15/2026 0.91% 1,125.00 0.00 1,125.00 0.00
Coupon 02/15/2024 912828V98 0.00 UNITED STATES TREASURY 2.25 02/15/2027 2.53% 1,462.50 0.00 1,462.50 0.00
Coupon 02/15/2024 438516CJ3 0.00 HONEYWELL INTERNATIONAL INC 4.95 02/15/2028 4.44% 3,341.25 0.00 3,341.25 0.00
Coupon 02/21/2024 43813GAC5 0.00 HAROT 2021-1 A3 0.27
04/21/2025 0.27% 0.89 0.00 0.89 0.00
Coupon 02/21/2024 43815GAC3 0.00 HAROT 2021-4 A3 0.88
01/21/2026 0.90% 16.54 0.00 16.54 0.00
Coupon 02/25/2024 05601XAC3 0.00 BMWLT 2022-1 A3 1.03
03/25/2025 1.15% 5.04 0.00 5.04 0.00

3.A.3.a
Packet Pg. 32
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 15
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss Coupon 02/25/2024 3135G05X7 0.00

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.375 08/25/2025

0.47% 431.25 0.00 431.25 0.00
Coupon 02/29/2024 9128284Z0 0.00 UNITED STATES TREASURY 2.75 08/31/2025 0.73% 2,131.25 0.00 2,131.25 0.00
Coupon 02/29/2024 91282CBQ3 0.00 UNITED STATES TREASURY 0.5 02/28/2026 0.82% 625.00 0.00 625.00 0.00
Coupon 02/29/2024 91282CHX2 0.00 UNITED STATES TREASURY

4.375 08/31/2028 4.69% 3,937.50 0.00 3,937.50 0.00
Total Coupon 0.00 23,748.99 0.00 23,748.99 0.00
Custody Fee 02/23/2024 CCYUSD (104.17) Cash 0.00% (104.17) 0.00 (104.17) 0.00 Total Custody Fee (104.17) (104.17) 0.00 (104.17) 0.00
Dividend 02/29/2024 31846V203 0.00 FIRST AMER:GVT OBLG Y 4.93% 9.34 0.00 9.34 0.00 Total Dividend 0.00 9.34 0.00 9.34 0.00
Management Fee 02/07/2024 CCYUSD (933.78) Cash 0.00% (933.78) 0.00 (933.78) 0.00 Total Management Fee (933.78) (933.78) 0.00 (933.78) 0.00 Maturity 02/05/2024 3135G0V34 (375,000.00)

FEDERAL NATIONAL
MORTGAGE ASSOCIATION 2.5
02/05/2024
100.000 2.50% 375,000.00 0.00 375,000.00 0.00
Total Maturity (375,000.00) 375,000.00 0.00 375,000.00 0.00 Principal Paydown 02/15/2024 89240BAC2 2,636.07 TAOT 2021-A A3 0.26 05/15/2025 0.28% 2,636.07 -- 2,636.07 (0.00)
Principal Paydown 02/15/2024 47788UAC6 1,451.04 JDOT 2021 A3 0.36 09/15/2025 0.38% 1,451.04 -- 1,451.04 (0.00) Principal Paydown 02/15/2024 47789QAC4 2,925.46 JDOT 2021-B A3 0.52 03/16/2026 0.52% 2,925.46 -- 2,925.46 (0.00)
Principal Paydown 02/15/2024 89238JAC9 1,806.33 TAOT 2021-D A3 0.71 04/15/2026 0.71% 1,806.33 -- 1,806.33 (0.00)
Principal Paydown 02/15/2024 43815BAC4 3,661.64 HAROT 2022-1 A3 1.88 05/15/2026 1.90% 3,661.64 -- 3,661.64 (0.00)
Principal Paydown 02/15/2024 47787JAC2 2,700.42 JDOT 2022 A3 0.36 09/15/2026 2.35% 2,700.42 -- 2,700.42 (0.00) Principal Paydown 02/21/2024 43813GAC5 1,019.25 HAROT 2021-1 A3 0.27 04/21/2025 0.27% 1,019.25 -- 1,019.25 0.00
Principal Paydown 02/21/2024 43815GAC3 1,810.25 HAROT 2021-4 A3 0.88 01/21/2026 0.90% 1,810.25 -- 1,810.25 (0.00)

3.A.3.a
Packet Pg. 33
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 16
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss Principal Paydown 02/25/2024 05601XAC3 3,262.70 BMWLT 2022-1 A3 1.03 03/25/2025 1.15% 3,262.70 -- 3,262.70 (0.00)
Total Principal
Paydown 21,273.16 21,273.16 -- 21,273.16 (0.02)

TOTAL OTHER
TRANSACTIONS (354,764.79) 418,993.54 0.00 418,993.54 (0.02)

3.A.3.a
Packet Pg. 34
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 17
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH & EQUIVALENTS
31846V203 FIRST AMER:GVT OBLG Y
69,110.12
56,849.73
416,936.75
(404,676.36)
69,110.12

0.00 432.10

0.00 0.00

0.00 432.10
432.10
CCYUSD Receivable
1,029.16
432.10

0.00 0.00
1,029.16

0.00 0.00

0.00 Total Cash & Equivalents 70,139.28
57,281.83
416,936.75
(404,676.36)
70,139.28

0.00 432.10

0.00 0.00

0.00 432.10 432.10

FIXED INCOME
023135BW5 AMAZON.COM INC 0.45
05/12/2024
05/10/2021
05/12/2021
90,000.00
89,987.89

0.00 0.00
89,991.37

88.88 0.00
122.62

33.75 3.48

0.00 3.48

37.23 37.23
023135CF1 AMAZON.COM INC 3.3
04/13/2027
04/11/2022
04/13/2022
60,000.00
59,921.01

0.00 0.00
59,922.97
594.00

0.00 759.00
165.00

1.96 0.00

1.96 166.96
166.96
037833CJ7 APPLE INC 3.35 02/09/2027
10/05/2022
10/07/2022
210,000.00
204,103.14

0.00 0.00
204,258.04
3,361.17
3,517.50
429.92
586.25
154.90

0.00 154.90
741.15
741.15
05601XAC3 BMWLT 2022-1 A3 1.03
03/25/2025
01/11/2022
01/19/2022
2,239.55
5,502.02

0.00 (3,262.70)
2,239.46

1.01 5.04

0.41 4.44

0.15 0.00

0.15 4.59

4.59 06051GKP3 BANK OF AMERICA CORP

4.376 04/27/2028
08/30/2023
08/31/2023
135,000.00
130,201.42

0.00 0.00
130,319.26
1,542.54

0.00 2,034.84
492.30
117.83

0.00 117.83
610.13
610.13

3.A.3.a
Packet Pg. 35
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 18
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

BERKSHIRE HATHAWAY
FINANCE CORP 2.3
03/15/2027
03/07/2022
03/15/2022
130,000.00
129,984.61

0.00 0.00
129,985.00
1,129.56

0.00 1,378.72
249.17

0.39 0.00

0.39 249.56
249.56
3130A3GE8 FEDERAL HOME LOAN BANKS

2.75 12/13/2024
12/16/2019
12/17/2019
250,000.00
252,023.32

0.00 0.00
251,837.63
916.67

0.00 1,489.58
572.92

0.00 (185.68)
(185.68)
387.23
387.23
3130AJKW8 FEDERAL HOME LOAN BANKS

0.5 06/13/2025
06/24/2020
06/25/2020
225,000.00
224,951.82

0.00 0.00
224,954.63
150.00

0.00 243.75

93.75 2.81

0.00 2.81

96.56 96.56
3130ATS57 FEDERAL HOME LOAN BANKS

4.5 03/10/2028 325,000.00
332,030.98

0.00 0.00
331,894.96
5,728.12

0.00 6,946.88
1,218.75

0.00 (136.02)
(136.02)
1,082.73
1,082.73
3130AWC24 FEDERAL HOME LOAN BANKS

4.0 06/09/2028
06/27/2023
06/28/2023
200,000.00
199,104.75

0.00 0.00
199,121.07
1,155.56

0.00 1,822.22
666.67

16.33 0.00

16.33 683.00
683.00
3130AWTR1 FEDERAL HOME LOAN BANKS

4.375 09/08/2028
09/12/2023
09/14/2023
200,000.00
199,064.88

0.00 0.00
199,081.01
4,302.08

0.00 5,031.25
729.17

16.13 0.00

16.13 745.30
745.30
3133EPC45

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.625
11/13/2028
11/27/2023
11/28/2023
230,000.00
231,587.73

0.00 0.00
231,561.37
2,304.79

0.00 3,191.25
886.46

0.00 (26.36)
(26.36)
860.10
860.10
3133EPN50

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.25
12/15/2028
12/18/2023
12/19/2023
225,000.00
227,439.42

0.00 0.00
227,399.65
1,221.88

0.00 2,018.75
796.88

0.00 (39.77)
(39.77)
757.11
757.11
3133EPWK7

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.5
09/22/2028
09/27/2023
09/28/2023
200,000.00
197,874.04

0.00 0.00
197,910.41
3,225.00

0.00 3,975.00
750.00

36.37 0.00

36.37 786.37
786.37

3.A.3.a
Packet Pg. 36
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 19
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.625 04/22/2025 310,000.00
309,989.83

0.00 0.00
309,990.49
532.81

0.00 694.27
161.46

6.88 (6.22)

0.66 162.12
162.12
3135G05X7

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.375 08/25/2025
08/25/2020
08/27/2020
230,000.00
229,663.03

0.00 0.00
229,680.15
373.75
431.25

14.38 71.88

17.11 0.00

17.11 88.99

88.99 3135G06G3

FEDERAL NATIONAL
MORTGAGE ASSOCIATION 0.5
11/07/2025
11/09/2020
11/12/2020
250,000.00
249,682.99

0.00 0.00
249,697.24
291.67

0.00 395.83
104.17

14.25 0.00

14.25 118.42
118.42
3135G0V34

FEDERAL NATIONAL
MORTGAGE ASSOCIATION 2.5
02/05/2024
03/24/2020
03/25/2020

0.00 375,067.52

0.00 (375,000.00)

0.00 4,583.33
4,687.50

0.00 104.17

0.00 (67.52)
(67.52)

36.65 36.65
3135G0X24

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

1.625 01/07/2025
01/16/2020
01/17/2020
225,000.00
224,868.25

0.00 0.00
224,879.46
243.75

0.00 548.44
304.69

11.20 0.00

11.20 315.89
315.89
3137EAEP0

FEDERAL HOME LOAN
MORTGAGE CORP 1.5
02/12/2025
02/13/2020
02/14/2020
245,000.00
244,961.03

0.00 0.00
244,964.03
1,725.21
1,837.50
193.96
306.25

3.00 0.00

3.00 309.25
309.25
3137EAEU9

FEDERAL HOME LOAN
MORTGAGE CORP 0.375
07/21/2025
07/21/2020
07/23/2020
145,000.00
144,787.80

0.00 0.00
144,799.28

15.10 0.00

60.42 45.31

11.48 0.00

11.48 56.79

56.79 3137EAEX3

FEDERAL HOME LOAN
MORTGAGE CORP 0.375
09/23/2025
09/23/2020
09/25/2020
230,000.00
229,772.27

0.00 0.00
229,783.28
306.67

0.00 378.54

71.88 11.01

0.00 11.01

82.88 82.88
341081GN1 FLORIDA POWER & LIGHT CO

4.4 05/15/2028
06/27/2023
06/29/2023
150,000.00
147,861.96

0.00 0.00
147,901.58
1,393.33

0.00 1,943.33
550.00

39.62 0.00

39.62 589.62
589.62

3.A.3.a
Packet Pg. 37
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 20
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
43813GAC5 HAROT 2021-1 A3 0.27
04/21/2025
02/17/2021
02/24/2021
2,941.14
3,960.38

0.00 (1,019.25)
2,941.13

0.30 0.89

0.22 0.81

0.00 0.00

0.00 0.82

0.82 43815BAC4 HAROT 2022-1 A3 1.88
05/15/2026
02/15/2022
02/23/2022
51,217.69
54,875.22

0.00 (3,661.64)
51,213.98

45.85 85.98

42.80 82.92

0.41 0.00

0.41 83.33

83.33 43815GAC3 HAROT 2021-4 A3 0.88
01/21/2026
11/16/2021
11/24/2021
20,750.36
22,558.59

0.00 (1,810.25)
20,748.57

5.51 16.54

5.07 16.10

0.24 0.00

0.24 16.34

16.34 438516CJ3 HONEYWELL INTERNATIONAL
INC 4.95 02/15/2028
02/13/2023
02/15/2023
135,000.00
137,435.94

0.00 0.00
137,387.01
3,081.38
3,341.25
297.00
556.88

0.00 (48.92)
(48.92)
507.95
507.95
4581X0DV7

INTER-AMERICAN
DEVELOPMENT BANK 0.875
04/20/2026
04/13/2021
04/20/2021
230,000.00
229,533.30

0.00 0.00
229,550.03
564.62

0.00 732.33
167.71

16.73 0.00

16.73 184.44
184.44
4581X0EN4

INTER-AMERICAN
DEVELOPMENT BANK 4.125
02/15/2029
02/15/2024
02/20/2024
175,000.00

0.00 173,446.00

0.00 173,454.53

0.00 (401.04)
621.61
220.57

8.53 0.00

8.53 229.10
229.10
46625HJX9 JPMORGAN CHASE & CO

3.625 05/13/2024
12/19/2019
12/24/2019
145,000.00
145,545.07

0.00 0.00
145,390.10
1,138.85

0.00 1,576.88
438.02

0.00 (154.97)
(154.97)
283.05
283.05
47787JAC2 JDOT 2022 A3 0.36
09/15/2026
03/10/2022
03/16/2022
32,888.04
35,584.15

0.00 (2,700.42)
32,884.18

36.70 68.80

33.91 66.02

0.45 0.00

0.45 66.46

66.46 47788UAC6 JDOT 2021 A3 0.36
09/15/2025
03/02/2021
03/10/2021
8,282.28
9,732.76

0.00 (1,451.04)
8,281.83

1.56 2.92

1.33 2.69

0.11 0.00

0.11 2.79

2.79 3.A.3.a
Packet Pg. 38
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 21
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
47789QAC4 JDOT 2021-B A3 0.52
03/16/2026
07/13/2021
07/21/2021
22,171.00
25,095.85

0.00 (2,925.46)
22,170.47

5.80 10.88

5.12 10.20

0.09 0.00

0.09 10.30

10.30 47800AAC4 JDOT 2022-B A3 3.74
02/16/2027
07/12/2022
07/20/2022
45,000.00
44,997.50

0.00 0.00
44,997.57

74.80 140.25

0.07 0.00

0.07 140.32
140.32
532457CK2 ELI LILLY AND CO 4.5
02/09/2029
02/07/2024
02/09/2024
85,000.00

0.00 84,943.90

0.00 84,944.54

0.00 0.00
233.75
233.75

0.64 0.00

0.64 234.39
234.39
57636QAW4 MASTERCARD INC 4.875
03/09/2028
03/06/2023
03/09/2023
70,000.00
69,944.33

0.00 0.00
69,945.40
1,346.04

0.00 1,630.42
284.38

1.08 0.00

1.08 285.45
285.45
58933YBH7 MERCK & CO INC 4.05
05/17/2028
05/08/2023
05/17/2023
30,000.00
29,979.16

0.00 0.00
29,979.54
249.75

0.00 351.00
101.25

0.39 0.00

0.39 101.64
101.64
61747YET8 MORGAN STANLEY 4.679
07/17/2026
07/18/2022
07/20/2022
60,000.00
60,000.00

0.00 0.00
60,000.00
109.18

0.00 343.13
233.95

0.00 0.00

0.00 233.95
233.95
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027
09/28/2022
09/30/2022
130,000.00
127,332.76

0.00 0.00
127,397.54
1,170.00

0.00 1,603.33
433.33

64.78 0.00

64.78 498.12
498.12
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029
01/24/2024
01/31/2024
145,000.00
144,763.78

0.00 0.00
144,767.53

18.53 0.00
574.36
555.83

3.75 0.00

3.75 559.58
559.58
74340XCG4 PROLOGIS LP 4.875
06/15/2028 170,000.00
168,590.50

0.00 0.00
168,616.11
1,058.96

0.00 1,749.58
690.62

25.61 0.00

25.61 716.24
716.24

3.A.3.a
Packet Pg. 39
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 22
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
74456QBU9 PUBLIC SERVICE ELECTRIC
AND GAS CO 3.7 05/01/2028
06/27/2023
06/29/2023
150,000.00
143,983.73

0.00 0.00
144,096.22
1,387.50

0.00 1,850.00
462.50
112.49

0.00 112.49
574.99
574.99
78015K7H1 ROYAL BANK OF CANADA

1.15 06/10/2025
10/14/2021
10/18/2021
200,000.00
199,954.63

0.00 0.00
199,957.29
325.83

0.00 517.50
191.67

2.66 0.00

2.66 194.32
194.32
808513BN4 CHARLES SCHWAB CORP 0.75
03/18/2024
03/16/2021
03/18/2021
40,000.00
39,999.16

0.00 0.00
39,999.69
110.83

0.00 135.83

25.00 0.53

0.00 0.53

25.53 25.53
808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027
03/01/2022
03/03/2022
45,000.00
44,970.03

0.00 0.00
44,970.80
453.25

0.00 545.12

91.88 0.77

0.00 0.77

92.65 92.65
857477BR3 STATE STREET CORP 1.746
02/06/2026
02/02/2022
02/07/2022
35,000.00
35,000.00

0.00 0.00
35,000.00
297.06
305.55

42.44 50.92

0.00 0.00

0.00 50.92

50.92 87612EBM7 TARGET CORP 1.95
01/15/2027
01/19/2022
01/24/2022
65,000.00
64,934.38

0.00 0.00
64,936.15

56.33 0.00
161.96
105.62

1.76 0.00

1.76 107.39
107.39
89114TZG0 TORONTO-DOMINION BANK

1.25 09/10/2026
11/17/2021
11/19/2021
200,000.00
197,770.72

0.00 0.00
197,838.63
979.17

0.00 1,187.50
208.33

67.91 0.00

67.91 276.24
276.24
89236TJK2 TOYOTA MOTOR CREDIT
CORP 1.125 06/18/2026
06/15/2021
06/18/2021
120,000.00
119,974.90

0.00 0.00
119,975.74
161.25

0.00 273.75
112.50

0.84 0.00

0.84 113.34
113.34
89238JAC9 TAOT 2021-D A3 0.71
04/15/2026
11/09/2021
11/15/2021
21,260.51
23,066.68

0.00 (1,806.33)
21,260.37

7.28 13.65

6.71 13.08

0.02 0.00

0.02 13.10

13.10 3.A.3.a
Packet Pg. 40
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 23
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
89240BAC2 TAOT 2021-A A3 0.26
05/15/2025
02/02/2021
02/08/2021
7,697.85
10,333.52

0.00 (2,636.07)
7,697.56

1.19 2.24

0.89 1.94

0.12 0.00

0.12 2.06

2.06 9128282A7 UNITED STATES TREASURY 1.5
08/15/2026
09/23/2021
09/24/2021
150,000.00
152,193.40

0.00 0.00
152,124.71
1,039.40
1,125.00

92.72 178.32

0.00 (68.69)
(68.69)
109.63
109.63
9128284Z0 UNITED STATES TREASURY

2.75 08/31/2025
06/24/2021
06/25/2021
155,000.00
159,890.52

0.00 0.00
159,644.73
1,803.37
2,131.25

11.58 339.47

0.00 (245.80)
(245.80)

93.67 93.67
9128285C0 UNITED STATES TREASURY 3.0
09/30/2025
02/25/2022
02/28/2022
200,000.00
203,616.37

0.00 0.00
203,443.59
2,032.79

0.00 2,508.20
475.41

0.00 (172.78)
(172.78)
302.63
302.63
9128285M8 UNITED STATES TREASURY

3.125 11/15/2028
01/17/2024
01/18/2024
175,000.00
168,021.68

0.00 0.00
168,137.39
1,171.88

0.00 1,607.57
435.70
115.71

0.00 115.71
551.40
551.40
912828V98 UNITED STATES TREASURY

2.25 02/15/2027
03/29/2022
03/30/2022
130,000.00
128,963.07

0.00 0.00
128,990.16
1,351.22
1,462.50
120.54
231.81

27.09 0.00

27.09 258.90
258.90
912828ZT0 UNITED STATES TREASURY

0.25 05/31/2025
06/04/2020
06/05/2020
230,000.00
229,566.89

0.00 0.00
229,592.79

98.98 0.00
144.54

45.56 25.90

0.00 25.90

71.46 71.46
91282CAZ4 UNITED STATES TREASURY

0.375 11/30/2025
12/15/2020
12/16/2020
240,000.00
240,006.92

0.00 0.00
240,006.62
154.92

0.00 226.23

71.31 0.00
(0.30)
(0.30)

71.01 71.01
91282CBC4 UNITED STATES TREASURY

0.375 12/31/2025
01/28/2021
01/29/2021
250,000.00
249,821.46

0.00 0.00
249,828.87

82.42 0.00
157.11

74.69 7.41

0.00 7.41

82.10 82.10

3.A.3.a
Packet Pg. 41
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 24
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CBQ3 UNITED STATES TREASURY 0.5
02/28/2026
03/24/2021
03/25/2021
250,000.00
248,368.28

0.00 0.00
248,430.70
528.85
625.00

3.40 99.55

62.43 0.00

62.43 161.98
161.98
91282CBT7 UNITED STATES TREASURY

0.75 03/31/2026 250,000.00
249,424.78

0.00 0.00
249,445.92
635.25

0.00 783.81
148.57

21.14 0.00

21.14 169.71
169.71
91282CCP4 UNITED STATES TREASURY

0.625 07/31/2026
08/25/2021
08/26/2021
300,000.00
298,558.77

0.00 0.00
298,604.64

5.15 0.00
154.53
149.38

45.88 0.00

45.88 195.26
195.26
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027
05/25/2022
05/26/2022
225,000.00
223,452.83

0.00 0.00
223,491.71
1,905.74

0.00 2,351.43
445.70

38.88 0.00

38.88 484.58
484.58
91282CET4 UNITED STATES TREASURY

2.625 05/31/2027 215,000.00
210,191.92

0.00 0.00
210,306.68
971.47

0.00 1,418.65
447.18
114.76

0.00 114.76
561.94
561.94
91282CFM8 UNITED STATES TREASURY

4.125 09/30/2027
11/21/2022
11/22/2022
350,000.00
351,422.75

0.00 0.00
351,391.89
4,891.39

0.00 6,035.35
1,143.96

0.00 (30.86)
(30.86)
1,113.10
1,113.10
91282CFZ9 UNITED STATES TREASURY

3.875 11/30/2027
01/24/2023
01/25/2023
275,000.00
277,765.95

0.00 0.00
277,708.57
1,834.27

0.00 2,678.62
844.35

0.00 (57.38)
(57.38)
786.97
786.97
91282CGT2 UNITED STATES TREASURY

3.625 03/31/2028 245,000.00
242,052.01

0.00 0.00
242,108.26
3,008.95

0.00 3,712.65
703.71

56.24 0.00

56.24 759.95
759.95
91282CHQ7 UNITED STATES TREASURY

4.125 07/31/2028
09/15/2023
09/18/2023
220,000.00
217,015.91

0.00 0.00
217,068.61

24.93 0.00
747.94
723.01

52.70 0.00

52.70 775.71
775.71

3.A.3.a
Packet Pg. 42
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 25
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

4.375 08/31/2028
09/27/2023
09/28/2023
180,000.00
177,704.88

0.00 0.00
177,744.67
3,331.73
3,937.50

21.40 627.17

39.78 0.00

39.78 666.95
666.95
91282CJF9 UNITED STATES TREASURY

4.875 10/31/2028
10/30/2023
10/31/2023
225,000.00
225,633.97

0.00 0.00
225,623.37
2,802.46

0.00 3,676.34
873.88

0.00 (10.60)
(10.60)
863.28
863.28
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029
02/26/2024
02/27/2024
150,000.00

0.00 147,919.92

0.00 147,923.39

0.00 (445.05)
494.51

49.46 3.47

0.00 3.47

52.92 52.92
91324PEC2 UNITEDHEALTH GROUP INC

1.15 05/15/2026 30,000.00
30,044.27

0.00 0.00
30,042.67

72.83 0.00
101.58

28.75 0.00
(1.60)
(1.60)

27.15 27.15
91324PEG3 UNITEDHEALTH GROUP INC

3.7 05/15/2027
05/17/2022
05/20/2022
50,000.00
50,014.50

0.00 0.00
50,014.13
390.56

0.00 544.72
154.17

0.08 (0.44)
(0.36)
153.81
153.81
931142ER0 WALMART INC 1.05
09/17/2026
09/08/2021
09/17/2021
30,000.00
29,970.22

0.00 0.00
29,971.13
117.25

0.00 143.50

26.25 0.90

0.00 0.90

27.15 27.15
931142EW9 WALMART INC 3.9
09/09/2025
09/06/2022
09/09/2022
30,000.00
29,988.77

0.00 0.00
29,989.33
461.50

0.00 559.00

97.50 0.56

0.00 0.56

98.06 98.06
931142EX7 WALMART INC 3.95
09/09/2027
10/05/2022
10/07/2022
140,000.00
137,480.28

0.00 0.00
137,535.80
2,181.28

0.00 2,642.11
460.83

55.53 0.00

55.53 516.36
516.36
Total Fixed Income 11,404,448.40
11,361,519.11
406,309.82
(396,273.18)
11,371,745.18
78,772.95
22,902.90
79,209.73
23,339.68
1,443.32
(1,253.90)
189.43
23,529.10 23,529.10

3.A.3.a
Packet Pg. 43
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 26
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
TOTAL PORTFOLIO 11,474,587.68
11,418,800.94
823,246.57
(800,949.54)
11,441,884.46
78,772.95
23,335.00
79,209.73
23,771.78
1,443.32
(1,253.90)
189.43
23,961.20 23,961.20

3.A.3.a
Packet Pg. 44
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 27
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount
MARCH 2024
03/01/2024 Dividend 31846V203 0.00 1,029.16 1,029.16
03/08/2024 Coupon 3130AWTR1 200,000.00 FEDERAL HOME LOAN BANKS 4.375 09/08/2028 5,201.39 5,201.39 03/11/2024 Coupon 3130ATS57 325,000.00 FEDERAL HOME LOAN BANKS 4.5 03/10/2028 7,312.50 7,312.50 03/11/2024 Coupon 57636QAW4 70,000.00 MASTERCARD INC 4.875 03/09/2028 1,706.25 1,706.25 03/11/2024 Coupon 89114TZG0 200,000.00 TORONTO-DOMINION BANK 1.25 09/10/2026 1,250.00 1,250.00 03/11/2024 Coupon 931142EW9 30,000.00 WALMART INC 3.9 09/09/2025 585.00 585.00 03/11/2024 Coupon 931142EX7 140,000.00 WALMART INC 3.95 09/09/2027 2,765.00 2,765.00 03/15/2024 Coupon 084664CZ2 130,000.00 BERKSHIRE HATHAWAY FINANCE CORP 2.3 03/15/2027 1,495.00 1,495.00
03/15/2024 Coupon 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 80.24 80.24 03/15/2024 Principal Paydown 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 3,457.49 3,457.49 03/15/2024 Coupon 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 63.96 63.96 03/15/2024 Principal Paydown 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 1,870.28 1,870.28 03/15/2024 Coupon 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 2.48 2.48 03/15/2024 Principal Paydown 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 934.18 934.18 03/15/2024 Coupon 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 9.61 9.61 03/15/2024 Principal Paydown 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 2,013.55 2,013.55 03/15/2024 Coupon 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 140.25 140.25 03/15/2024 Coupon 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 12.58 12.58 03/15/2024 Principal Paydown 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 1,807.41 1,807.41 03/15/2024 Coupon 89240BAC2 7,697.85 TAOT 2021-A A3 0.26 05/15/2025 1.67 1.67 03/15/2024 Principal Paydown 89240BAC2 7,697.85 TAOT 2021-A A3 0.26 05/15/2025 2,442.19 2,442.19 03/18/2024 Coupon 808513BN4 40,000.00 CHARLES SCHWAB CORP 0.75 03/18/2024 150.00 150.00 03/18/2024 Final Maturity 808513BN4 40,000.00 CHARLES SCHWAB CORP 0.75 03/18/2024 40,000.00 40,000.00 03/18/2024 Coupon 931142ER0 30,000.00 WALMART INC 1.05 09/17/2026 157.50 157.50 03/21/2024 Coupon 43813GAC5 2,941.14 HAROT 2021-1 A3 0.27 04/21/2025 0.72 0.72 03/21/2024 Principal Paydown 43813GAC5 2,941.14 HAROT 2021-1 A3 0.27 04/21/2025 909.50 909.50 03/21/2024 Coupon 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 15.22 15.22 03/21/2024 Principal Paydown 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 1,732.14 1,732.14 03/22/2024 Coupon 3133EPWK7 200,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 09/22/2028 4,500.00 4,500.00

3.A.3.a
Packet Pg. 45
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 28
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount
03/25/2024 Coupon 05601XAC3 2,239.55 BMWLT 2022-1 A3 1.03 03/25/2025 2.05 2.05 03/25/2024 Effective Maturity 05601XAC3 2,239.55 BMWLT 2022-1 A3 1.03 03/25/2025 2,239.55 2,239.55 03/25/2024 Coupon 3137EAEX3 230,000.00 FEDERAL HOME LOAN MORTGAGE CORP 0.375 09/23/2025 431.25 431.25
March 2024 Total 58,435.44 25,882.67 84,318.12
APRIL 2024
04/01/2024 Coupon 9128285C0 200,000.00 UNITED STATES TREASURY 3.0 09/30/2025 3,000.00 3,000.00 04/01/2024 Coupon 91282CBT7 250,000.00 UNITED STATES TREASURY 0.75 03/31/2026 937.50 937.50 04/01/2024 Coupon 91282CEF4 225,000.00 UNITED STATES TREASURY 2.5 03/31/2027 2,812.50 2,812.50 04/01/2024 Coupon 91282CFM8 350,000.00 UNITED STATES TREASURY 4.125 09/30/2027 7,218.75 7,218.75 04/01/2024 Coupon 91282CGT2 245,000.00 UNITED STATES TREASURY 3.625 03/31/2028 4,440.62 4,440.62 04/15/2024 Coupon 023135CF1 60,000.00 AMAZON.COM INC 3.3 04/13/2027 990.00 990.00 04/15/2024 Coupon 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 74.82 74.82 04/15/2024 Principal Paydown 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 3,583.96 3,583.96 04/15/2024 Coupon 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 60.34 60.34 04/15/2024 Principal Paydown 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 2,258.55 2,258.55 04/15/2024 Coupon 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 2.20 2.20 04/15/2024 Principal Paydown 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 1,208.83 1,208.83 04/15/2024 Coupon 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 8.73 8.73 04/15/2024 Principal Paydown 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 2,601.17 2,601.17 04/15/2024 Coupon 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 140.25 140.25 04/15/2024 Coupon 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 11.51 11.51 04/15/2024 Principal Paydown 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 1,863.94 1,863.94 04/15/2024 Coupon 89240BAC2 7,697.85 TAOT 2021-A A3 0.26 05/15/2025 1.14 1.14 04/15/2024 Principal Paydown 89240BAC2 7,697.85 TAOT 2021-A A3 0.26 05/15/2025 2,474.10 2,474.10 04/22/2024 Coupon 3135G03U5 310,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.625 04/22/2025 968.75 968.75
04/22/2024 Coupon 43813GAC5 2,941.14 HAROT 2021-1 A3 0.27 04/21/2025 0.52 0.52 04/22/2024 Principal Paydown 43813GAC5 2,941.14 HAROT 2021-1 A3 0.27 04/21/2025 921.57 921.57 04/22/2024 Coupon 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 13.95 13.95 04/22/2024 Principal Paydown 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 1,776.63 1,776.63

3.A.3.a
Packet Pg. 46
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 29
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount
04/22/2024 Coupon 4581X0DV7 230,000.00 INTER-AMERICAN DEVELOPMENT BANK 0.875 04/20/2026 1,006.25 1,006.25
04/29/2024 Coupon 06051GKP3 135,000.00 BANK OF AMERICA CORP 4.376 04/27/2028 2,953.80 2,953.80 04/30/2024 Coupon 91282CJF9 225,000.00 UNITED STATES TREASURY 4.875 10/31/2028 5,484.38 5,484.38 April 2024 Total 16,688.75 30,126.02 46,814.77
MAY 2024
05/01/2024 Coupon 74456QBU9 150,000.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.7 05/01/2028 2,775.00 2,775.00
05/07/2024 Coupon 3135G06G3 250,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.5 11/07/2025 625.00 625.00
05/10/2024 Coupon 665859AW4 130,000.00 NORTHERN TRUST CORP 4.0 05/10/2027 2,600.00 2,600.00 05/13/2024 Coupon 023135BW5 90,000.00 AMAZON.COM INC 0.45 05/12/2024 202.50 202.50 05/13/2024 Final Maturity 023135BW5 90,000.00 AMAZON.COM INC 0.45 05/12/2024 90,000.00 90,000.00 05/13/2024 Coupon 3133EPC45 230,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.625 11/13/2028 5,318.75 5,318.75
05/13/2024 Coupon 46625HJX9 145,000.00 JPMORGAN CHASE & CO 3.625 05/13/2024 2,628.12 2,628.12 05/13/2024 Final Maturity 46625HJX9 145,000.00 JPMORGAN CHASE & CO 3.625 05/13/2024 145,000.00 145,000.00 05/15/2024 Coupon 341081GN1 150,000.00 FLORIDA POWER & LIGHT CO 4.4 05/15/2028 3,300.00 3,300.00 05/15/2024 Coupon 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 69.21 69.21 05/15/2024 Principal Paydown 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 3,432.22 3,432.22 05/15/2024 Coupon 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 55.98 55.98 05/15/2024 Principal Paydown 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 2,190.95 2,190.95 05/15/2024 Coupon 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 1.84 1.84 05/15/2024 Principal Paydown 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 1,200.75 1,200.75 05/15/2024 Coupon 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 7.61 7.61 05/15/2024 Principal Paydown 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 2,603.59 2,603.59 05/15/2024 Coupon 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 140.25 140.25 05/15/2024 Coupon 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 10.41 10.41 05/15/2024 Principal Paydown 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 1,780.41 1,780.41 05/15/2024 Coupon 89240BAC2 7,697.85 TAOT 2021-A A3 0.26 05/15/2025 0.60 0.60 05/15/2024 Principal Paydown 89240BAC2 7,697.85 TAOT 2021-A A3 0.26 05/15/2025 2,335.74 2,335.74 05/15/2024 Coupon 9128285M8 175,000.00 UNITED STATES TREASURY 3.125 11/15/2028 2,734.38 2,734.38

3.A.3.a
Packet Pg. 47
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 30
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount
05/15/2024 Coupon 91324PEC2 30,000.00 UNITEDHEALTH GROUP INC 1.15 05/15/2026 172.50 172.50 05/15/2024 Coupon 91324PEG3 50,000.00 UNITEDHEALTH GROUP INC 3.7 05/15/2027 925.00 925.00 05/17/2024 Coupon 58933YBH7 30,000.00 MERCK & CO INC 4.05 05/17/2028 607.50 607.50 05/21/2024 Coupon 43813GAC5 2,941.14 HAROT 2021-1 A3 0.27 04/21/2025 0.31 0.31 05/21/2024 Principal Paydown 43813GAC5 2,941.14 HAROT 2021-1 A3 0.27 04/21/2025 894.52 894.52 05/21/2024 Coupon 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 12.64 12.64 05/21/2024 Principal Paydown 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 1,704.45 1,704.45 05/31/2024 Coupon 912828ZT0 230,000.00 UNITED STATES TREASURY 0.25 05/31/2025 287.50 287.50 05/31/2024 Coupon 91282CAZ4 240,000.00 UNITED STATES TREASURY 0.375 11/30/2025 450.00 450.00 05/31/2024 Coupon 91282CET4 215,000.00 UNITED STATES TREASURY 2.625 05/31/2027 2,821.88 2,821.88 05/31/2024 Coupon 91282CFZ9 275,000.00 UNITED STATES TREASURY 3.875 11/30/2027 5,328.12 5,328.12 May 2024 Total 251,142.62 31,075.10 282,217.73
JUNE 2024
06/10/2024 Coupon 3130AWC24 200,000.00 FEDERAL HOME LOAN BANKS 4.0 06/09/2028 4,000.00 4,000.00 06/10/2024 Coupon 78015K7H1 200,000.00 ROYAL BANK OF CANADA 1.15 06/10/2025 1,150.00 1,150.00 06/13/2024 Coupon 3130A3GE8 250,000.00 FEDERAL HOME LOAN BANKS 2.75 12/13/2024 3,437.50 3,437.50 06/13/2024 Coupon 3130AJKW8 225,000.00 FEDERAL HOME LOAN BANKS 0.5 06/13/2025 562.50 562.50 06/17/2024 Coupon 3133EPN50 225,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.25 12/15/2028 4,781.25 4,781.25
06/17/2024 Coupon 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 63.83 63.83 06/17/2024 Principal Paydown 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 3,362.05 3,362.05 06/17/2024 Coupon 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 51.74 51.74 06/17/2024 Principal Paydown 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 1,820.40 1,820.40 06/17/2024 Coupon 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 1.48 1.48 06/17/2024 Principal Paydown 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 1,000.76 1,000.76 06/17/2024 Coupon 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 6.48 6.48 06/17/2024 Principal Paydown 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 1,492.88 1,492.88 06/17/2024 Coupon 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 140.25 140.25 06/17/2024 Principal Paydown 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 796.42 796.42 06/17/2024 Coupon 74340XCG4 170,000.00 PROLOGIS LP 4.875 06/15/2028 4,143.75 4,143.75 06/17/2024 Coupon 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 9.35 9.35 06/17/2024 Principal Paydown 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 1,563.85 1,563.85

3.A.3.a
Packet Pg. 48
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 31
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount
06/17/2024 Coupon 89240BAC2 7,697.85 TAOT 2021-A A3 0.26 05/15/2025 0.10 0.10 06/17/2024 Effective Maturity 89240BAC2 7,697.85 TAOT 2021-A A3 0.26 05/15/2025 445.81 445.81 06/18/2024 Coupon 89236TJK2 120,000.00 TOYOTA MOTOR CREDIT CORP 1.125 06/18/2026 675.00 675.00 06/21/2024 Coupon 43813GAC5 2,941.14 HAROT 2021-1 A3 0.27 04/21/2025 0.11 0.11 06/21/2024 Effective Maturity 43813GAC5 2,941.14 HAROT 2021-1 A3 0.27 04/21/2025 489.49 489.49 06/21/2024 Coupon 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 11.39 11.39 06/21/2024 Principal Paydown 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 1,667.53 1,667.53 June 2024 Total 12,639.19 19,034.74 31,673.93
JULY 2024
07/01/2024 Coupon 91282CBC4 250,000.00 UNITED STATES TREASURY 0.375 12/31/2025 468.75 468.75 07/08/2024 Coupon 3135G0X24 225,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

1.625 01/07/2025 1,828.12 1,828.12
07/15/2024 Coupon 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 58.57 58.57 07/15/2024 Principal Paydown 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 3,272.57 3,272.57 07/15/2024 Coupon 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 48.22 48.22 07/15/2024 Principal Paydown 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 2,145.40 2,145.40 07/15/2024 Coupon 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 1.18 1.18 07/15/2024 Principal Paydown 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 1,033.88 1,033.88 07/15/2024 Coupon 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 5.83 5.83 07/15/2024 Principal Paydown 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 1,147.95 1,147.95 07/15/2024 Coupon 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 137.77 137.77 07/15/2024 Principal Paydown 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 2,069.67 2,069.67 07/15/2024 Coupon 87612EBM7 65,000.00 TARGET CORP 1.95 01/15/2027 633.75 633.75 07/15/2024 Coupon 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 8.43 8.43 07/15/2024 Principal Paydown 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 1,500.97 1,500.97 07/17/2024 Coupon 61747YET8 60,000.00 MORGAN STANLEY 4.679 07/17/2026 1,403.70 1,403.70 07/22/2024 Coupon 3137EAEU9 145,000.00 FEDERAL HOME LOAN MORTGAGE CORP 0.375 07/21/2025 271.88 271.88
07/22/2024 Coupon 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 10.17 10.17 07/22/2024 Principal Paydown 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 1,446.52 1,446.52 07/31/2024 Coupon 69371RS80 145,000.00 PACCAR FINANCIAL CORP 4.6 01/31/2029 3,335.00 3,335.00 07/31/2024 Coupon 91282CCP4 300,000.00 UNITED STATES TREASURY 0.625 07/31/2026 937.50 937.50

3.A.3.a
Packet Pg. 49
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 32
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount
07/31/2024 Coupon 91282CHQ7 220,000.00 UNITED STATES TREASURY 4.125 07/31/2028 4,537.50 4,537.50 07/31/2024 Coupon 91282CJW2 150,000.00 UNITED STATES TREASURY 4.0 01/31/2029 3,000.00 3,000.00 July 2024 Total 12,616.96 16,686.37 29,303.33
AUGUST 2024
08/06/2024 Coupon 857477BR3 35,000.00 STATE STREET CORP 1.746 02/06/2026 305.55 305.55 08/09/2024 Coupon 037833CJ7 210,000.00 APPLE INC 3.35 02/09/2027 3,517.50 3,517.50 08/09/2024 Coupon 532457CK2 85,000.00 ELI LILLY AND CO 4.5 02/09/2029 1,912.50 1,912.50 08/12/2024 Coupon 3137EAEP0 245,000.00 FEDERAL HOME LOAN MORTGAGE CORP 1.5 02/12/2025 1,837.50 1,837.50
08/15/2024 Coupon 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 53.44 53.44 08/15/2024 Principal Paydown 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 3,165.78 3,165.78 08/15/2024 Coupon 438516CJ3 135,000.00 HONEYWELL INTERNATIONAL INC 4.95 02/15/2028 3,341.25 3,341.25
08/15/2024 Coupon 4581X0EN4 175,000.00 INTER-AMERICAN DEVELOPMENT BANK 4.125 02/15/2029 3,910.16 3,910.16
08/15/2024 Coupon 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 44.07 44.07 08/15/2024 Principal Paydown 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 1,905.05 1,905.05 08/15/2024 Coupon 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 0.87 0.87 08/15/2024 Principal Paydown 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 1,167.16 1,167.16 08/15/2024 Coupon 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 5.34 5.34 08/15/2024 Principal Paydown 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 1,210.03 1,210.03 08/15/2024 Coupon 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 131.32 131.32 08/15/2024 Principal Paydown 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 1,842.01 1,842.01 08/15/2024 Coupon 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 7.54 7.54 08/15/2024 Principal Paydown 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 1,453.03 1,453.03 08/15/2024 Coupon 9128282A7 150,000.00 UNITED STATES TREASURY 1.5 08/15/2026 1,125.00 1,125.00 08/15/2024 Coupon 912828V98 130,000.00 UNITED STATES TREASURY 2.25 02/15/2027 1,462.50 1,462.50 08/21/2024 Coupon 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 9.11 9.11 08/21/2024 Principal Paydown 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 1,399.57 1,399.57 08/26/2024 Coupon 3135G05X7 230,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.375 08/25/2025 431.25 431.25
August 2024 Total 12,142.64 18,094.89 30,237.53

3.A.3.a
Packet Pg. 50
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 33
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount
SEPTEMBER 2024
09/03/2024 Coupon 808513BY0 45,000.00 CHARLES SCHWAB CORP 2.45 03/03/2027 551.25 551.25 09/03/2024 Coupon 9128284Z0 155,000.00 UNITED STATES TREASURY 2.75 08/31/2025 2,131.25 2,131.25 09/03/2024 Coupon 91282CBQ3 250,000.00 UNITED STATES TREASURY 0.5 02/28/2026 625.00 625.00 09/03/2024 Coupon 91282CHX2 180,000.00 UNITED STATES TREASURY 4.375 08/31/2028 3,937.50 3,937.50 09/09/2024 Coupon 3130AWTR1 200,000.00 FEDERAL HOME LOAN BANKS 4.375 09/08/2028 4,375.00 4,375.00 09/09/2024 Coupon 57636QAW4 70,000.00 MASTERCARD INC 4.875 03/09/2028 1,706.25 1,706.25 09/09/2024 Coupon 931142EW9 30,000.00 WALMART INC 3.9 09/09/2025 585.00 585.00 09/09/2024 Coupon 931142EX7 140,000.00 WALMART INC 3.95 09/09/2027 2,765.00 2,765.00 09/10/2024 Coupon 3130ATS57 325,000.00 FEDERAL HOME LOAN BANKS 4.5 03/10/2028 7,312.50 7,312.50 09/10/2024 Coupon 89114TZG0 200,000.00 TORONTO-DOMINION BANK 1.25 09/10/2026 1,250.00 1,250.00 09/16/2024 Coupon 084664CZ2 130,000.00 BERKSHIRE HATHAWAY FINANCE CORP 2.3 03/15/2027 1,495.00 1,495.00
09/16/2024 Coupon 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 48.48 48.48 09/16/2024 Principal Paydown 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 3,085.91 3,085.91 09/16/2024 Coupon 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 40.39 40.39 09/16/2024 Principal Paydown 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 1,874.45 1,874.45 09/16/2024 Coupon 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 0.52 0.52 09/16/2024 Principal Paydown 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 1,201.20 1,201.20 09/16/2024 Coupon 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 4.81 4.81 09/16/2024 Principal Paydown 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 1,191.27 1,191.27 09/16/2024 Coupon 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 125.58 125.58 09/16/2024 Principal Paydown 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 1,971.41 1,971.41 09/16/2024 Coupon 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 6.68 6.68 09/16/2024 Principal Paydown 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 1,418.40 1,418.40 09/17/2024 Coupon 931142ER0 30,000.00 WALMART INC 1.05 09/17/2026 157.50 157.50 09/23/2024 Coupon 3133EPWK7 200,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 09/22/2028 4,500.00 4,500.00
09/23/2024 Coupon 3137EAEX3 230,000.00 FEDERAL HOME LOAN MORTGAGE CORP 0.375 09/23/2025 431.25 431.25
09/23/2024 Coupon 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 8.08 8.08 09/23/2024 Principal Paydown 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 1,363.87 1,363.87

3.A.3.a
Packet Pg. 51
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 34
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount
09/30/2024 Coupon 9128285C0 200,000.00 UNITED STATES TREASURY 3.0 09/30/2025 3,000.00 3,000.00 09/30/2024 Coupon 91282CBT7 250,000.00 UNITED STATES TREASURY 0.75 03/31/2026 937.50 937.50 09/30/2024 Coupon 91282CEF4 225,000.00 UNITED STATES TREASURY 2.5 03/31/2027 2,812.50 2,812.50 09/30/2024 Coupon 91282CFM8 350,000.00 UNITED STATES TREASURY 4.125 09/30/2027 7,218.75 7,218.75 09/30/2024 Coupon 91282CGT2 245,000.00 UNITED STATES TREASURY 3.625 03/31/2028 4,440.62 4,440.62 September 2024 Total 12,106.52 50,466.42 62,572.94
OCTOBER 2024
10/15/2024 Coupon 023135CF1 60,000.00 AMAZON.COM INC 3.3 04/13/2027 990.00 990.00 10/15/2024 Coupon 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 43.64 43.64 10/15/2024 Principal Paydown 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 2,972.66 2,972.66 10/15/2024 Coupon 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 36.77 36.77 10/15/2024 Principal Paydown 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 2,090.28 2,090.28 10/15/2024 Coupon 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 0.16 0.16 10/15/2024 Effective Maturity 47788UAC6 8,282.28 JDOT 2021 A3 0.36 09/15/2025 535.52 535.52 10/15/2024 Coupon 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 4.29 4.29 10/15/2024 Principal Paydown 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 1,242.24 1,242.24 10/15/2024 Coupon 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 119.43 119.43 10/15/2024 Principal Paydown 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 2,265.36 2,265.36 10/15/2024 Coupon 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 5.84 5.84 10/15/2024 Principal Paydown 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 1,366.93 1,366.93 10/21/2024 Coupon 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 7.08 7.08 10/21/2024 Principal Paydown 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 1,314.62 1,314.62 10/21/2024 Coupon 4581X0DV7 230,000.00 INTER-AMERICAN DEVELOPMENT BANK 0.875 04/20/2026 1,006.25 1,006.25
10/22/2024 Coupon 3135G03U5 310,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.625 04/22/2025 968.75 968.75
10/28/2024 Coupon 06051GKP3 135,000.00 BANK OF AMERICA CORP 4.376 04/27/2028 2,953.80 2,953.80 10/31/2024 Coupon 91282CJF9 225,000.00 UNITED STATES TREASURY 4.875 10/31/2028 5,484.38 5,484.38 October 2024 Total 11,787.60 11,620.40 23,408.00
NOVEMBER 2024
11/01/2024 Coupon 74456QBU9 150,000.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.7 05/01/2028 2,775.00 2,775.00

3.A.3.a
Packet Pg. 52
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 35
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount
11/07/2024 Coupon 3135G06G3 250,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.5 11/07/2025 625.00 625.00
11/12/2024 Coupon 665859AW4 130,000.00 NORTHERN TRUST CORP 4.0 05/10/2027 2,600.00 2,600.00 11/13/2024 Coupon 3133EPC45 230,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.625 11/13/2028 5,318.75 5,318.75
11/15/2024 Coupon 341081GN1 150,000.00 FLORIDA POWER & LIGHT CO 4.4 05/15/2028 3,300.00 3,300.00 11/15/2024 Coupon 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 38.99 38.99 11/15/2024 Principal Paydown 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 2,721.34 2,721.34 11/15/2024 Coupon 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 32.73 32.73 11/15/2024 Principal Paydown 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 2,254.29 2,254.29 11/15/2024 Coupon 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 3.76 3.76 11/15/2024 Principal Paydown 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 1,476.03 1,476.03 11/15/2024 Coupon 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 112.37 112.37 11/15/2024 Principal Paydown 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 2,380.45 2,380.45 11/15/2024 Coupon 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 5.03 5.03 11/15/2024 Principal Paydown 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 1,335.16 1,335.16 11/15/2024 Coupon 9128285M8 175,000.00 UNITED STATES TREASURY 3.125 11/15/2028 2,734.38 2,734.38 11/15/2024 Coupon 91324PEC2 30,000.00 UNITEDHEALTH GROUP INC 1.15 05/15/2026 172.50 172.50 11/15/2024 Coupon 91324PEG3 50,000.00 UNITEDHEALTH GROUP INC 3.7 05/15/2027 925.00 925.00 11/18/2024 Coupon 58933YBH7 30,000.00 MERCK & CO INC 4.05 05/17/2028 607.50 607.50 11/21/2024 Coupon 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 6.12 6.12 11/21/2024 Principal Paydown 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 1,281.79 1,281.79 November 2024 Total 11,449.07 19,257.12 30,706.18
DECEMBER 2024
12/02/2024 Coupon 912828ZT0 230,000.00 UNITED STATES TREASURY 0.25 05/31/2025 287.50 287.50 12/02/2024 Coupon 91282CAZ4 240,000.00 UNITED STATES TREASURY 0.375 11/30/2025 450.00 450.00 12/02/2024 Coupon 91282CET4 215,000.00 UNITED STATES TREASURY 2.625 05/31/2027 2,821.88 2,821.88 12/02/2024 Coupon 91282CFZ9 275,000.00 UNITED STATES TREASURY 3.875 11/30/2027 5,328.12 5,328.12 12/09/2024 Coupon 3130AWC24 200,000.00 FEDERAL HOME LOAN BANKS 4.0 06/09/2028 4,000.00 4,000.00 12/10/2024 Coupon 78015K7H1 200,000.00 ROYAL BANK OF CANADA 1.15 06/10/2025 1,150.00 1,150.00 12/13/2024 Coupon 3130A3GE8 250,000.00 FEDERAL HOME LOAN BANKS 2.75 12/13/2024 3,437.50 3,437.50 12/13/2024 Final Maturity 3130A3GE8 250,000.00 FEDERAL HOME LOAN BANKS 2.75 12/13/2024 250,000.00 250,000.00

3.A.3.a
Packet Pg. 53
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 36
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount
12/13/2024 Coupon 3130AJKW8 225,000.00 FEDERAL HOME LOAN BANKS 0.5 06/13/2025 562.50 562.50 12/16/2024 Coupon 3133EPN50 225,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.25 12/15/2028 4,781.25 4,781.25
12/16/2024 Coupon 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 34.72 34.72 12/16/2024 Principal Paydown 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 2,599.71 2,599.71 12/16/2024 Coupon 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 28.37 28.37 12/16/2024 Principal Paydown 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 1,592.27 1,592.27 12/16/2024 Coupon 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 3.12 3.12 12/16/2024 Principal Paydown 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 1,054.07 1,054.07 12/16/2024 Coupon 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 104.95 104.95 12/16/2024 Principal Paydown 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 1,850.86 1,850.86 12/16/2024 Coupon 74340XCG4 170,000.00 PROLOGIS LP 4.875 06/15/2028 4,143.75 4,143.75 12/16/2024 Coupon 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 4.24 4.24 12/16/2024 Principal Paydown 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 1,277.00 1,277.00 12/18/2024 Coupon 89236TJK2 120,000.00 TOYOTA MOTOR CREDIT CORP 1.125 06/18/2026 675.00 675.00 12/23/2024 Coupon 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 5.18 5.18 12/23/2024 Principal Paydown 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 1,228.07 1,228.07 12/31/2024 Coupon 91282CBC4 250,000.00 UNITED STATES TREASURY 0.375 12/31/2025 468.75 468.75 December 2024 Total 259,601.97 28,286.83 287,888.80
JANUARY 2025
01/07/2025 Coupon 3135G0X24 225,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

1.625 01/07/2025 1,828.12 1,828.12
01/07/2025 Final Maturity 3135G0X24 225,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

1.625 01/07/2025 225,000.00 225,000.00
01/15/2025 Coupon 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 30.65 30.65 01/15/2025 Principal Paydown 43815BAC4 51,217.69 HAROT 2022-1 A3 1.88 05/15/2026 2,545.95 2,545.95 01/15/2025 Coupon 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 25.29 25.29 01/15/2025 Principal Paydown 47787JAC2 32,888.04 JDOT 2022 A3 0.36 09/15/2026 1,885.63 1,885.63 01/15/2025 Coupon 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 2.66 2.66 01/15/2025 Principal Paydown 47789QAC4 22,171.00 JDOT 2021-B A3 0.52 03/16/2026 1,905.56 1,905.56 01/15/2025 Coupon 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 99.18 99.18 01/15/2025 Principal Paydown 47800AAC4 45,000.00 JDOT 2022-B A3 3.74 02/16/2027 2,995.07 2,995.07

3.A.3.a
Packet Pg. 54
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 37
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount
01/15/2025 Coupon 87612EBM7 65,000.00 TARGET CORP 1.95 01/15/2027 633.75 633.75 01/15/2025 Coupon 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 3.49 3.49 01/15/2025 Principal Paydown 89238JAC9 21,260.51 TAOT 2021-D A3 0.71 04/15/2026 1,252.89 1,252.89 01/17/2025 Coupon 61747YET8 60,000.00 MORGAN STANLEY 4.679 07/17/2026 1,403.70 1,403.70 01/21/2025 Coupon 3137EAEU9 145,000.00 FEDERAL HOME LOAN MORTGAGE CORP 0.375 07/21/2025 271.88 271.88
01/21/2025 Coupon 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 4.28 4.28 01/21/2025 Principal Paydown 43815GAC3 20,750.36 HAROT 2021-4 A3 0.88 01/21/2026 1,202.11 1,202.11 January 2025 Total 236,787.21 4,303.00 241,090.21
Grand Total 24,354,434.40 895,397.99 254,833.56 1,150,231.54

3.A.3.a
Packet Pg. 55
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 38
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

IMPORTANT DISCLOSURES
Chandler Asset Management, Inc. (“Chandler”) is an SEC registered investment adviser. For additional information about our firm, please see our current disclosures (Form ADV).

To obtain a copy of our current disclosures, you may contact your client service representative by calling the number on the front of this statement or you may visit our website at www.chandlerasset.com.

Information contained in this monthly statement is confidential and is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of this statement, but may become outdated or superseded at any time without notice.

Custody: Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account.

Valuation: Prices are provided by IDC, an independent pricing source. In the event IDC does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance: Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

Source ice Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE INDICES AND RELATED DATA ON AN “AS IS” BASIS; ICE, ITS AFFILIATES AND

THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM.

NEITHER ICE DATA, ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY PROVIDERS GUARANTEE THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN “AS IS” BASIS AND LICENSEE’S USE IS AT LICENSEE’S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND CHANDLER, OR ANY OF ITS PRODUCTS OR SERVICES.

Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.

Ratings: Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P, Moody’s and Fitch respectively.

3.A.3.a
Packet Pg. 56
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) CONFIDENTIAL | 39
City of San Jacinto California | Account #10167 | As of February 29, 2024 Execution Time: 03/05/2024 10:33:16 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

BENCHMARK INDEX & DISCLOSURES
Benchmark Disclosure
ICE BofA 1-5 Yr US Treasury & Agency
Index
The ICE BofA 1-5 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.

3.A.3.a
Packet Pg. 57
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) City of San Jacinto Public Trust Advisors LLC
595 S. San Jacinto Ave. 550 South Hope Street
San Jacinto, CA 92583 Suite 560
Los Angeles, CA 90071
Monthly Investment Report for Period Ended February 29, 2024

3.A.3.a
Packet Pg. 58
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Investment Management Portfolio Review Page
Investment Portfolio Summary Comparison3
Total Return Performance Summary4
Investment Portfolio Maturity Distribution6
Investment Portfolio Maturity Distribution By Security Type7 Investment Portfolio Rating Distribution8
Investment Portfolio Security Distribution - Market Value9 Investment Portfolio Security Distribution - Historical Cost 10 Investment Portfolio Compliance 11
Additional Disclosure 12
Portfolio Holdings Detail 13
City of San Jacinto Summary

3.A.3.a
Packet Pg. 59
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Trailing Month Trailing 3 Months Trailing 12 Months Year to Date Total Return Performance Periodic Periodic Periodic Periodic City of San Jacinto (0.72%) 1.11% 4.25% 2.99%
Trailing 3 Years Trailing 5 Years Since Inception*
Total Return Performance Annualized Annualized Annualized City of San Jacinto (0.64%) 1.05% 0.94%
*Total return since inception date: December 1, 2012. Year to Date is Fiscal Year to Date.

Annualized total return performance presented for investment periods longer than one year. Return information obtained from Bloomberg.

City of San Jacinto Total Return February 1, 2024 to February 29, 2024 (0.72%)

1.11%

4.25%

2.99%
(0.64%)

1.05% 0.94%
(6.00%)
(4.00%)
(2.00%)

0.00%

2.00%

4.00%

6.00%
Trailing Month Trailing 3 Months Trailing 12 Months Year to Date Trailing 3 Years Trailing 5 Years Since Inception* Yield
Total Return Performance
City of San Jacinto

Page 3 ends

3.A.3.a
Packet Pg. 60
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Trailing Month Trailing 3 Months Trailing 12 Months Year To Date Total Return Performance Periodic Periodic Periodic Periodic City of San Jacinto (0.72%) 1.11% 4.25% 2.99%
BofA ML 1-5 Year U.S. Treasury/Agency (0.72%) 1.11% 4.10% 2.96% Since Inception*
Trailing 3 Years Trailing 5 Years February 1, 2020
Total Return Performance Annualized Annualized Annualized City of San Jacinto (0.64%) NA 0.29%
BofA ML 1-5 Year U.S. Treasury/Agency (0.73%) NA 0.16%
*Original Total return since inception date: December 1, 2012. The BofA ML 1-5 Year U.S. Treasury/Agency benchmark established on February 1, 2020. Year to Date is Fiscal Year to Date.

Annualized total return performance presented for investment periods longer than one year. Return information obtained from Bloomberg.

City of San Jacinto Total Return February 1, 2024 to February 29, 2024 (0.72%)

1.11%

4.25%

2.99%
(0.64%)

0.29%
(0.72%)

1.11%

4.10%

2.96%
(0.73%)

0.16%
(5.00%)
(4.00%)
(3.00%)
(2.00%)
(1.00%)

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%
Trailing Month Trailing 3 Months Trailing 12 Months Year To Date Trailing 3 Years Trailing 5 Years February 1, 2020 Yield
Total Return Performance vs. Benchmark
City of San Jacinto BofA ML 1-5 Year U.S. Treasury/Agency

Page 4 ends

3.A.3.a
Packet Pg. 61
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) City of San Jacinto
February 1, 2024
Beginning Balance
February 29, 2024
Ending Balance Portfolio Characteristic
February 1, 2024
Beginning Balance
February 29, 2024
Ending Balance
Historical Cost $ 11,332,563.37 $ 11,351,019.55 Book Yield Gross 2.69% 2.68% Book Value $ 11,402,543.99 $ 11,425,703.07 Market Yield Gross 4.21% 4.60% Accrued Interest 54,873.71 55,366.65 Weighted Average Coupon 2.00% 1.99% Book Value Plus Accrued $ 11,457,417.70 $ 11,481,069.72 Duration 2.51 Years 2.51 Years Net Unrealized Gain/Loss (283,122.66) (386,274.22) Weighted Effective Maturity 2.65 Years 2.66 Years Market Value Plus Accrued(2) $ 11,174,295.04 $ 11,094,795.50 Weighted Final Maturity 2.65 Years 2.66 Years Net Pending Transactions 892.90 304.85
Market Value Plus Accrued Net(2) $ 11,175,187.94 $ 11,095,100.35 City of San Jacinto
February 2024
Net Income Portfolio Compliance Compliant
Interest Income $ 17,996.62 Security Distribution YES
Net Amortization/Accretion 6,305.11 Maturity Distribution YES Net Realized Gain/Loss(3) (1,237.75) Rating Distribution YES Miscellaneous Income -
Net Income $ 23,063.98
City of San Jacinto Summary Comparison for the period February 1, 2024 to February 29, 2024 (1) Payables represent amounts due to settle security transactions that have been executed but have not settled as of period end. The funds used to settle these trades may come from a variety of sources including cash within the portfolio, proceeds from future security transactions including maturities and sales, or other sources including money market funds. For reporting purposes, a payable is created for over-period settlements which are reflected in the detailed holdings.
(2) Market Value Plus Accrued Net represents the market value of the portfolio net payables and recievables from transactions that settle in the following reporting period. (3) MBS paydowns may result in negative realized losses rather than amortization in as a result of accounting method.

Page 5 ends

3.A.3.a
Packet Pg. 62
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Maturity Distribution
February 1, 2024
Beginning Balance
February 29, 2024
Ending Balance Portfolio Allocation
Distribution
Change
0-3 Months $ 346,770.74 $ 77,908.08 0.70% -2.40%
3-6 Months - 97,952.99 0.88% 0.88%
6-9 Months 546,109.96 449,797.92 4.05% -0.83%
9-12 Months - - 0.00% 0.00%
1-2 Years 2,717,955.89 3,376,429.28 30.43% 6.11%
2-3 Years 2,771,193.09 2,522,732.58 22.74% -2.06%
3-4 Years 2,927,893.33 2,578,692.95 23.24% -2.96%
4-5 Years 1,864,372.03 1,991,281.70 17.95% 1.26%
5-6 Years - - 0.00% 0.00%
6 Years + - - 0.00% 0.00%
Total Portfolio $ 11,174,295.04 $ 11,094,795.50 100.00% City of San Jacinto Maturity Distribution Market Value Basis February 1, 2024 to February 29, 2024 $-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
0-3 M 3-6 M 6-9 M 9-12 M 1-2 Yr 2-3 Yr 3-4 Yr 4-5 Yr 5-6 Yr 6 Yr + Maturity Distribution Comparison
February 1, 2024 February 29, 2024
0-3 M

0.70%
3-6 M

0.88%
6-9 M
1-2 Yr 4.05%

30.43%
2-3 Yr

22.74%
3-4 Yr

23.24% 4-5 Yr

17.95%
Maturity Distribution

Page 6 ends

3.A.3.a
Packet Pg. 63
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Security Distribution 0-3 Months 3-6 Months 6-9 Months 9-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years Total Portfolio Cash $ - $ - $ - $ - $ - $ - $ - $ - $ -
Money Market Funds 77,908 - - - - - - - 77,908
Certificates of Deposit - - - - - - - - -
Commercial Paper - - - - - - - - -
U.S. Treasury Notes - - - - 2,458,251 2,174,314 2,383,594 1,965,555 8,981,714 U.S. Agency Notes - - - - - - - - -
Federal Inst. (GSE)* - - - - 388,860 - - - 388,860
Corporate Notes - 97,953 449,798 - 514,193 333,315 - - 1,395,259 Asset Backed (ABS) - - - - - - - - -
Municipal Bonds - - - - 15,126 15,103 195,099 25,726 251,055 Total $ 77,908 $ 97,953 $ 449,798 $ - $ 3,376,429 $ 2,522,733 $ 2,578,693 $ 1,991,282 $ 11,094,796 *Mortgage backed securities shown to effective maturity.

City of San Jacinto Maturity Distribution Market Value Basis as of February 29, 2024 $-
$5,000,000
0-3 Months 3-6 Months 6-9 Months 9-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years Maturity Distribution By Type Municipal Bonds
Asset Backed (ABS)
Corporate Notes
Federal Inst. (GSE)*
U.S. Agency Notes
U.S. Treasury Notes
Commercial Paper
Certificates of Deposit
Money Market Funds
Cash

Page 7 ends

3.A.3.a
Packet Pg. 64
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) S&P Rating Distribution
February 29, 2024
Ending Balance Portfolio Allocation
Short Term Rating Distribution
A-1+ $ - 0.00%
A-1 - 0.00%
A-2 - 0.00%
Total Short Term Ratings $ - 0.00%
Long Term Rating Distribution
AAA Rating $ 77,908.08 0.70%
AA Rating 9,987,980.35 90.02%
A Rating 1,028,907.08 9.27%
Below A - 0.00%
Not Rated - 0.00%
Total Long Term Rating $ 11,094,795.50 100.00%
Total Portfolio $ 11,094,795.50 100.00%
Moody's Rating Distribution
February 29, 2024
Ending Balance Portfolio Allocation
Short Term Rating Distribution
P-1 $ - 0.00%
P-2 - 0.00%
Total Short Term Ratings $ - 0.00%
Long Term Rating Distribution
Aaa Rating $ 9,448,482.07 85.16%
Aa Rating 325,777.11 2.94%
A Rating 1,320,536.32 11.90%
Below A - 0.00%
Not Rated - 0.00%
Total Long Term Rating $ 11,094,795.50 100.00%
Total Portfolio $ 11,094,795.50 100.00%
City of San Jacinto Rating Distribution Market Value Basis as of February 29, 2024 AAA Rating

0.70%
AA Rating

90.02%
A Rating

9.27%
Portfolio Allocation By Standard and Poors' Rating
Aaa Rating

85.16%
Aa Rating

2.94%
A Rating

11.90%
Portfolio Allocation By Moody's Rating

Page 8 ends

3.A.3.a
Packet Pg. 65
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Security Distribution
February 1, 2024
Beginning Balance
Portfolio
Allocation
February 29, 2024
Ending Balance Book Yield
Portfolio
Allocation
Change in
Allocation
Permitted by
Policy* Compliant
Cash $ - 0.00% $ - 0.00% 0.00% 0.00% YES
LGIP - 0.00% - 0.00% 0.00% 0.00% YES
U.S. Treasury Notes 8,965,241.61 80.23% 8,981,714.20 2.81% 80.95% 0.72% NO U.S. Agency Notes - 0.00% - 0.00% 0.00% 0.00% YES
FNMA 390,701.81 3.50% 388,859.79 0.50% 3.50% 0.01% NO
FHLMC - 0.00% - 0.00% 0.00% 0.00% YES
FFCB - 0.00% - 0.00% 0.00% 0.00% YES
FHLB - 0.00% - 0.00% 0.00% 0.00% YES
Fed Instrumentality Subtotal $ 390,701.81 3.50% $ 388,859.79 0.50% 3.50% 0.01% NO Asset Backed Securities - 0.00% - 0.00% 0.00% 0.00% YES Commercial Paper - 0.00% - 0.00% 0.00% 0.00% YES
Corporate Notes 1,218,879.38 10.91% 1,395,258.89 2.66% 12.58% 1.67% NO Bankers Acceptances - 0.00% - 0.00% 0.00% 0.00% YES
Money Market Funds 346,770.74 3.10% 77,908.08 4.93% 0.70% -2.40% YES Municipal Bonds 252,701.49 2.26% 251,054.54 4.70% 2.26% 0.00% NO Intergovernmental Funds - 0.00% - 0.00% 0.00% 0.00% YES Certificates of Deposit - 0.00% - 0.00% 0.00% 0.00% YES Total Portfolio Market Value $ 11,174,295.04 100.00% $ 11,094,795.50 2.68% 100.00% *Permitted allocation based on aggregate assets as defined within the investment policy.

City of San Jacinto Market Value Basis Security Distribution February 1, 2024 to February 29, 2024 $-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
Cash
LGIP
UST
Agency
FNMA
FHLMC
FFCB
FHLB
ABS
CP
Corp
BA
MMF
Muni
Inter Gov
CD
Asset Balance By Security Type
(in millions)
February 1, 2024 February 29, 2024
UST

80.95%
FNMA

3.50%
Corp

12.58%
MMF

0.70%
Muni

2.26%
Ending Portfolio Allocation

Page 9 ends

3.A.3.a
Packet Pg. 66
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Security Distribution
February 1, 2024
Beginning Balance
Portfolio
Allocation
February 29, 2024
Ending Balance Book Yield
Portfolio
Allocation
Change in
Allocation
Permitted by
Policy* Compliant
Cash $ - 0.00% $ - 0.00% 0.00% 0.00% YES
U.S. Treasury Notes 9,097,221.13 80.28% 9,204,635.37 2.81% 81.09% 0.82% NO U.S. Agency Notes - 0.00% - 0.00% 0.00% 0.00% YES
FNMA 413,057.80 3.64% 413,057.80 0.50% 3.64% -0.01% NO
FHLMC - 0.00% - 0.00% 0.00% 0.00% YES
FFCB - 0.00% - 0.00% 0.00% 0.00% YES
FHLB - 0.00% - 0.00% 0.00% 0.00% YES
Fed Instrumentality Subtotal $ 413,057.80 3.64% $ 413,057.80 0.50% 3.64% -0.01% NO Asset Backed Securities - 0.00% - 0.00% 0.00% 0.00% YES Commercial Paper - 0.00% - 0.00% 0.00% 0.00% YES
Corporate Notes 1,228,683.15 10.84% 1,408,587.75 2.66% 12.41% 1.57% NO Bankers Acceptances - 0.00% - 0.00% 0.00% 0.00% YES
Money Market Funds 346,770.74 3.06% 77,908.08 4.93% 0.69% -2.37% YES Municipal Bonds 246,830.55 2.18% 246,830.55 4.70% 2.17% 0.00% NO Intergovernmental Funds - 0.00% - 0.00% 0.00% 0.00% YES Certificates of Deposit - 0.00% - 0.00% 0.00% 0.00% YES Total Portfolio Historical Cost $ 11,332,563.37 100.00% $ 11,351,019.55 2.68% 100.00% *Permitted allocation based on aggregate assets as defined within the investment policy.

City of San Jacinto Historical Cost Basis Security Distribution February 1, 2024 to February 29, 2024 $-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
Cash
UST
Agency
FNMA
FHLMC
FFCB
FHLB
ABS
CP
Corp
BA
MMF
Muni
Inter Gov
CD
Asset Balance By Security Type
(in millions)
February 1, 2024 February 29, 2024
UST

81.09%
FNMA

3.64%
Corp

12.41%
MMF

0.69%
Muni

2.17%
Ending Portfolio Allocation

Page 10 ends

3.A.3.a
Packet Pg. 67
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Policy
Section Description Compliance Requirement Compliant
Policy
Section Description Compliance Requirement Compliant
IX. 1,2 Municipal Bonds Rated A or better by 1 NRSRO, 5% issuer limitation, 30% total portfolio limit, 5-year maturity limit
Compliant IX. 14
Pass-Through
Securities
Issuer debt rated at least A by 2 NRSRO's; Must be rated in the AA category by 2 NRSRO's; 20% total portfolio limit, 5-year maturity limit Compliant IX. 1 U.S. Treasury No limitations Compliant
IX. 2 Federal Agency No limitations Compliant
IX. 3
Bankers
Acceptances
Rated A1 or better and have long term debt rated A or better by 2 NRSRO's; Maturity ≤ to 180 days, 40% total portfolio limit, 5% issuer limit Compliant IX. 4
Federally Insured
Time Deposits
Limited to amounts covered under federal insurance; 20% total portfolio limit in combination with IX.5; 5-year maturity limit Compliant IX. 17.b Money Market Funds Registered with SEC under 1940 Act, have highest ranking by 2 NRSRO's; retained advisor registered (or exempt from registration) with 5-years experience investing in securities authorized by CA 53601 and at least $500 million of assets; 20% total portfolio limit
Compliant
IX. 5 Time Deposits
Fully collateralized per CA law, 20% limit when combined with IX.4; Issuer must have long-term debt rated A or higher and/or short-term debt rated A1 or higher by 2 NRSRO's, 5-year maturity limit
Compliant IX. 18 Supranationals
US dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by IBRD, IFC, or IADB; rated AA or higher by 1 NRSRO; 30% total portfolio limit; 10% issuer limit; 5-year maturity limit Compliant
IX. 6 CDARS 30% limit in combination of CD's (including CDARS); 5-year maturity limit Compliant X.A.1 Futures and Options Prohibited Compliant IX. 7 Negotiable CD's
Issuer must have long-term debt rated A or higher and/or short-term debt rated A1 or higher by 2 NRSRO's; Maturity ≤ to 5 years, 30% total portfolio limit, 5% issuer limit
Compliant X.A.2
Inverse Floaters,
Range Notes, and
Mortgage Derived
IO Strips
Prohibited Compliant
IX. 8
Collateralized
Bank Deposits
Collateralized with pleged securities per CA Government Code Section 53651
Compliant X.A.3
Potential Zero
Accrual Securities Prohibited Compliant
X.A.5
Purchasing
Securities on
Margin
Prohibited Compliant
X.A.6
Reverse Repos or
other leverage Prohibited Compliant
X.A.7
Foreign Currency
Securities
Prohibited Compliant
X.B.2
Single Issuer
Limitation
5% issuer limitation, except U.S. Government, its agencies & enterprises, Money Market Mutual Funds, Mutual Funds, LAIF, LGIP's, and Supranationals Compliant IX. 11
Local Agency
Investment Fund
70% total portfolio limit, up to the maximum permitted balance Compliant X.C.2 Callable Security
Limitation
20% of total portfolio (excluding Make Whole Call securities) Compliant IX. 12
Local Government
Investment Pools
Riveride County Investment Fund limited to 70% of the portfolio; JPA Pools limited to 50% of the portfolio Compliant X.C.3
Maximum Security
Maturity
Individual security maturities limited to 5-years or less Compliant IX. 13 Corporate Bonds
Corporations organized and operating in the U.S. or depository institutions licensed by the U.S. or any state and operating in the U.S.; Rated in the A category or better by 2 NRSRO's, 5-year maturity limit; 30% total portfolio limit, 5% issuer limit
Compliant X.C.4
Portfolio Duration
Limitation
Average portfolio duration will be managed to be approximatly equal to the Market Benchmark selected by the City (typically +/- 20 of benchmark duration)
Compliant
IX. 9
Repurchase
Agreements
Collateralized at 102% in accordance with policy; 1-year maturity limit, no % portfolio limit, collateral held by custodian bank; subject to master repurchase agreement substantially in SIFMA's form
Compliant
IX. 10 Commercial Paper
Issuer is organized and operating in the U.S. with assets of at least $500 million; Issuer short-term ratings of A1 or higher and long-term ratings of A or higher by 2 NRSRO's; Maturity ≤ 270 days; 25% total portfolio limit; 5% issuer limit
Compliant
City of San Jacinto Portfolio Compliance February 1, 2024 to February 29, 2024 IX. 17.e Mutual Funds
Invests in securities authorized by specified provisions in CA Government Code Section 53601; have highest ranking by 2 NRSRO's; retained advisor registered (or exempt from registration) with 5-years experience investing in securities authorized by CA 53601 and at least $500 million of assets; 10% per fund limit; 20% limit when combined with IX.17.b
Compliant

Page 11 ends

3.A.3.a
Packet Pg. 68
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Additional Disclosure
This information is for the sole purposes of the client and is not intended to provide specific advice or recommendations. Please review the contents of this information carefully. Should you have any questions regarding the information presented, calculation methodology, investment portfolio, security detail, or any other facet of this information, please feel free to contact us.

Public Trust Advisors, LLC (Public Trust) statements and reports are intended to detail our investment advisory activity as well as the activity of certain client accounts managed by Public Trust. The custodian bank maintains the control of assets and executes and settles all investment transactions. The custodian statement is the official record of security and cash holdings transactions. Public Trust recognizes that clients may use these reports to facilitate record keeping; therefore, it is recommended that the client reconcile this information with their custodian bank statement. Many custodians use a settlement date basis that may result in the need to reconcile due to a timing difference. The underlying market value, amortized cost, and accrued interest may differ between the custodian and this statement or report. This can be attributed to differences in calculation methodologies and pricing sources used.

Public Trust does not have the authority to withdraw funds from or deposit funds to the custodian. Our clients retain responsibility for their internal accounting policies, implementing and enforcing internal controls, and generating ledger entries or otherwise recording transactions. The total market value represents prices obtained from various sources; it may be impacted by the frequency at which prices are reported, and such prices are not guaranteed. Prices received from pricing vendors are generally based on current market quotes but when such quotes are not available, the pricing vendors use a variety of techniques to estimate value. These estimates, particularly for fixed-income securities, may be based on certain minimum principal amounts (e.g. $1 million) and may not reflect all the factors that affect the value of the security including liquidity risk. The prices provided are not firm bids or offers. Certain securities may reflect N/A or unavailable where the price for such security is generally not available from a pricing source. The market value of a security, including those priced at par value, may differ from its purchase price and may not closely reflect the value at which the security may be sold or purchased based on various market factors. The securities in this investment portfolio, including shares of mutual funds, are not guaranteed or otherwise protected by Public Trust, the FDIC (except for certain non-negotiable certificates of deposit), or any government agency unless specifically stated otherwise.

Clients may be permitted to establish one or more unmanaged accounts for the purposes of client reporting. Clients may also be permitted to provide externally managed assets for the purposes of client reporting. Public Trust defines unmanaged accounts or assets as one where the investment direction remains the sole responsibility of the client rather than the Investment Manager.

Unmanaged accounts or external assets do not receive ongoing supervision and monitoring services. The Investment Manager doesnot make any investment recommendations and may not charge a fee for reporting on these accounts or assets. The primary purpose for this service is to include unmanaged accountsor assets owned by the client in the performance reports provided by the Investment Manager. The Investment Manager assumes no liability for the underlying performance of any unmanaged accounts or assets, and it is the client’s sole responsibility for the accuracy or correctness of any such performance.

Beginning and ending balances are based on market value plus accrued interest on a trade date basis. Statements and reports made available to the end user either from Public Trust or through the online reporting platform may present information and portfolio analytics using various optional methods including, but not limited to, historical cost, amortized cost, and market value. All information is assumed to be correct, but the accuracy has not been confirmed and therefore is not guaranteed to be correct. Information is obtained from third party sources that may or may not be verified. The data in this report is unaudited and is only applicable for the date denoted on the report. Market values may change day-to-day based on numerous circumstances such as trading volume, news released about the underlying issuer, issuer performance, etc. Underlying market values may be priced via numerous aspects as certain securities are short term in nature and not readily traded. Performance results are shown net of all fees and expenses and reflect the reinvestment of dividends and other earnings.

Many factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. Investment involves risk including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved. Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses.

The investment advisor providing these services is Public Trust Advisors, LLC, an investment adviser registered with the U.S.Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940, as amended. Registration with the SEC does not imply a certain level of skill or training. Public Trustis required to maintain a written disclosure brochure of our background and business experience. If you would like to receive a copy of our current disclosure brochure, Privacy Policy, or Code of Ethics, or have any questions regarding your account please contact us.

Public Trust Advisors
717 17th Street, Suite 1850
Denver, CO 80202

Page 12 ends

3.A.3.a
Packet Pg. 69
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Portfolio Holdings
Portfolio Income
Portfolio Transactions
Issuer Concentration
Security Concentration
Portfolio Activity Summary
City of San Jacinto Detail

Page 13 ends

3.A.3.a
Packet Pg. 70
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Month End Report Trade Date copy
San Jacinto, City of (66779)Month End (M8 Y2024)02/01/2024 - 02/29/2024Dated: 03/05/2024Locked Down

3.A.3.a
Packet Pg. 71
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Holdings Report Trade Date (San Jacinto, City of (66779)) 1 Income Detail Report Trade Date (San Jacinto, City of (66779)) 6 Transactions Realized Gain Loss Report (San Jacinto, City of (66779)) 9 Issuer Concentration with Yield GASB 40 Trade Date (San Jacinto, City of(66779)) 10 Security Type GASB 40 Trade Date (San Jacinto, City of (66779)) 16Portfolio Activity Summary (San Jacinto, City of (66779)) 21 Table of Contents
Dated: 03/05/2024

3.A.3.a
Packet Pg. 72
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Description,
Identifier,
Security Type,
Coupon
Effective Maturity,Final Maturity,Callable,Next Call Date Original Cost,
Current Units,
Market Price
Trade Date,Settle Date
MoodysRating,S&P Rating,Fitch Rating
Book Value,
Book Value + Accrued
Accrued Balance,
Net Unrealized Gain/Loss
Market Value,
Market Value + Accrued

FEDERAL NATIONAL MORTGAGE ASSOCIATION
3135G05X7

AGCY BOND

0.375
08/25/202508/25/2025N--- 413,057.80 415,000.00 93.6949 08/25/2020 08/27/2020 Aaa AA+ AA+ 414,417.27 414,443.21 25.94 -25,583.41 388,833.86 388,859.79

HOME DEPOT INC
437076CM2
CORP

2.700
04/15/202504/15/2025Y03/15/2025
59,895.0060,000.00

97.4255
03/24/202203/28/2022
A2AA
59,960.5260,572.52
612.00
-1,505.19
58,455.3359,067.33
AMAZON.COM INC
023135CE4
CORP

3.000
04/13/202504/13/2025N--- 294,530.95 295,000.00 97.7074 04/11/2022 04/13/2022 A1AAAA- 294,820.38 298,212.88 3,392.50 -6,583.64 288,236.75 291,629.25

COLGATE-PALMOLIVE CO
194162AM5
CORP

3.100
08/15/202508/15/2025N--- 44,958.60 45,000.00 97.4946 08/01/2022 08/09/2022 Aa3 AA- NA 44,979.59 45,041.59 62.00 -1,107.02 43,872.57 43,934.57

PEPSICO INC
713448FQ6
CORP

4.550
02/13/202602/13/2026Y01/13/2026
119,930.40120,000.00

99.4073
02/13/202302/15/2023
A1A+NA
119,953.33120,226.33
273.00
-664.58
119,288.75119,561.75

COLGATE-PALMOLIVE CO
194162AQ6
CORP

4.800
03/02/202603/02/2026N--- 29,965.20 30,000.00 100.2400 02/27/2023 03/01/2023 Aa3 AA- NA 29,976.27 30,692.27 716.00 95.73 30,072.00 30,788.00

PACCAR FINANCIAL CORP
69371RR40
CORP

0.500
08/09/202408/09/2024N--- 99,946.00 100,000.00 97.9224 08/03/2021 08/09/2021 A1A+NA 99,991.99 100,022.54 30.56 -2,069.55 97,922.43 97,952.99

JOHN DEERE CAPITAL CORP
24422EXD6
CORP

5.150
09/08/202609/08/2026N--- 64,953.85 65,000.00 100.6709 09/05/2023 09/08/2023 A1AA+ 64,960.78 66,569.44 1,608.66 475.31 65,436.09 67,044.75

TOYOTA MOTOR CREDIT CORP
89236TJN6
CORP

0.625
09/13/202409/13/2024N--- 279,868.40 280,000.00 97.4942 09/08/2021 09/13/2021 A1A+A+ 279,976.44 280,793.10 816.67 -6,992.57 272,983.87 273,800.53

CATERPILLAR FINANCIAL SERVICES CORP
14913R2P1
CORP

0.600
09/13/202409/13/2024N--- 179,755.20 180,000.00 97.4963 09/08/2021 09/14/2021 A2AA+ 179,956.13 180,460.13 504.00 -4,462.74 175,493.39 175,997.39

HOME DEPOT INC
437076CV2
CORP

4.950
08/30/202609/30/2026Y08/30/2026
54,879.5555,000.00
100.0547
11/27/202312/04/2023
A2AA
54,886.7055,544.63
657.94143.41
55,030.1155,688.04

ELI LILLY AND CO
532457CJ5
CORP

4.500
02/09/202702/09/2027Y01/09/2027
179,904.60180,000.00

99.6107
02/07/202402/09/2024
A1A+NA
179,906.33180,401.33
495.00
-607.04
179,299.30179,794.30
FIRST AMER:GVT OBLG Y
31846V203
MMFUND

4.930
02/29/202402/29/2024N--- 77,908.08 77,908.08 1.0000 --- --- Aaa AAAm AAA 77,908.08 77,908.08 0.00 0.00 77,908.08 77,908.08

CALIFORNIA ST
13063D3N6
MUNI

4.846
03/01/202703/01/2027N--- 120,000.00 120,000.00 100.2840 03/09/2023 03/15/2023 Aa2 AA- AA 120,000.00 122,907.60 2,907.60 340.80 120,340.80 123,248.40

CONNECTICUT ST
20772KTJ8
MUNI

5.050
05/15/202705/15/2027N--- 61,152.00 60,000.00 101.1940 06/01/2023 06/22/2023 Aa3 AA- AA- 60,959.37 61,851.54 892.17 -242.97 60,716.40 61,608.57

HAWAII ST
419792L95
MUNI

4.588
10/01/202610/01/2026N--- 15,000.00 15,000.00 99.7690 12/07/2023 12/19/2023 Aa2 AA+ AA 15,000.00 15,137.64 137.64 -34.65 14,965.35 15,102.99 Holdings Report Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 1 3.A.3.a
Packet Pg. 73
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Description,
Identifier,
Security Type,
Coupon
Effective Maturity,Final Maturity,Callable,Next Call Date Original Cost,
Current Units,
Market Price
Trade Date,Settle Date
MoodysRating,S&P Rating,Fitch Rating
Book Value,
Book Value + Accrued
Accrued Balance,
Net Unrealized Gain/Loss
Market Value,
Market Value + Accrued

HAWAII ST
419792M37
MUNI

5.000
10/01/202810/01/2028N--- 25,510.25 25,000.00 101.9050 12/07/2023 12/19/2023 Aa2 AA+ AA 25,489.98 25,739.98 250.00 -13.73 25,476.25 25,726.25

HAWAII ST
419792L87
MUNI

4.801
10/01/202510/01/2025N--- 15,000.00 15,000.00 99.8800 12/07/2023 12/19/2023 Aa2 AA+ AA 15,000.00 15,144.03 144.03 -18.00 14,982.00 15,126.03

HAWAII ST
419792M29
MUNI

5.000
10/01/202710/01/2027N--- 10,168.30 10,000.00 101.4230 12/07/2023 12/19/2023 Aa2 AA+ AA 10,159.69 10,259.69 100.00 -17.39 10,142.30 10,242.30

UNITED STATES TREASURY
912828ZW3
US GOV

0.250
06/30/202506/30/2025N--- 253,894.34 255,000.00 94.1016 11/02/2020 11/04/2020 Aaa AA+ AA+ 254,681.75 254,788.58 106.83 -14,722.76 239,958.98 240,065.82

UNITED STATES TREASURY
912828ZT0
US GOV

0.250
05/31/202505/31/2025N--- 233,971.88 235,000.00 94.3945 12/03/2020 12/04/2020 Aaa AA+ AA+ 234,712.44 234,860.11 147.68 -12,885.29 221,827.15 221,974.83

UNITED STATES TREASURY
912828ZT0
US GOV

0.250
05/31/202505/31/2025N--- 189,094.53 190,000.00 94.3945 01/06/2021 01/08/2021 Aaa AA+ AA+ 189,741.21 189,860.61 119.40 -10,391.60 179,349.61 179,469.01

UNITED STATES TREASURY
91282CAT8
US GOV

0.250
10/31/202510/31/2025N--- 59,547.66 60,000.00 92.8516 01/06/2021 01/08/2021 Aaa AA+ AA+ 59,842.43 59,892.70 50.27 -4,131.49 55,710.94 55,761.21

UNITED STATES TREASURY
91282CAZ4
US GOV

0.375
11/30/202511/30/2025N--- 204,375.39 205,000.00 92.7734 02/04/2021 02/05/2021 Aaa AA+ AA+ 204,771.74 204,964.97 193.24 -14,586.19 190,185.55 190,378.79

UNITED STATES TREASURY
912828ZL7
US GOV

0.375
04/30/202504/30/2025N--- 154,461.13 155,000.00 94.8789 02/24/2021 02/26/2021 Aaa AA+ AA+ 154,848.62 155,043.43 194.81 -7,786.31 147,062.30 147,257.12

UNITED STATES TREASURY
91282CBC4
US GOV

0.375
12/31/202512/31/2025N--- 153,395.51 155,000.00 92.5156 02/24/2021 02/26/2021 Aaa AA+ AA+ 154,387.54 154,484.95 97.41 -10,988.32 143,399.22 143,496.63

UNITED STATES TREASURY
91282CBH3
US GOV

0.375
01/31/202601/31/2026N--- 122,236.33 125,000.00 92.2109 03/29/2021 03/31/2021 Aaa AA+ AA+ 123,891.04 123,929.67 38.63 -8,627.36 115,263.67 115,302.31

UNITED STATES TREASURY
91282CBT7
US GOV

0.750
03/31/202603/31/2026N--- 299,566.41 300,000.00 92.4609 05/06/2021 05/10/2021 Aaa AA+ AA+ 299,813.57 300,754.15 940.57 -22,430.76 277,382.81 278,323.39

UNITED STATES TREASURY
91282CCF6
US GOV

0.750
05/31/202605/31/2026N--- 219,028.91 220,000.00 91.9297 06/03/2021 06/07/2021 Aaa AA+ AA+ 219,556.65 219,971.40 414.75 -17,311.34 202,245.31 202,660.07

UNITED STATES TREASURY
91282CBW0
US GOV

0.750
04/30/202604/30/2026N--- 235,688.48 235,000.00 92.1914 08/05/2021 08/09/2021 Aaa AA+ AA+ 235,318.32 235,909.05 590.73 -18,668.51 216,649.80 217,240.53

UNITED STATES TREASURY
91282CCP4
US GOV

0.625
07/31/202607/31/2026N--- 332,579.10 335,000.00 91.1719 09/01/2021 09/03/2021 Aaa AA+ AA+ 333,796.15 333,968.71 172.56 -28,370.36 305,425.78 305,598.34

UNITED STATES TREASURY
91282CCJ8
US GOV

0.875
06/30/202606/30/2026N--- 124,804.69 125,000.00 92.0117 10/04/2021 10/06/2021 Aaa AA+ AA+ 124,902.88 125,086.18 183.29 -9,888.23 115,014.65 115,197.94 Holdings Report Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 2 3.A.3.a
Packet Pg. 74
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Description,
Identifier,
Security Type,
Coupon
Effective Maturity,Final Maturity,Callable,Next Call Date Original Cost,
Current Units,
Market Price
Trade Date,Settle Date
MoodysRating,S&P Rating,Fitch Rating
Book Value,
Book Value + Accrued
Accrued Balance,
Net Unrealized Gain/Loss
Market Value,
Market Value + Accrued

UNITED STATES TREASURY
91282CBQ3
US GOV

0.500
02/28/202602/28/2026N--- 326,520.31 335,000.00 92.1953 10/28/2021 10/29/2021 Aaa AA+ AA+ 331,045.07 331,049.63 4.55 -22,190.78 308,854.30 308,858.85

UNITED STATES TREASURY
91282CAB7
US GOV

0.250
07/31/202507/31/2025N--- 170,358.40 175,000.00 93.7734 10/28/2021 10/29/2021 Aaa AA+ AA+ 173,228.30 173,264.36 36.06 -9,124.79 164,103.52 164,139.57

UNITED STATES TREASURY
91282CCZ2
US GOV

0.875
09/30/202609/30/2026N--- 409,050.59 415,000.00 91.3281 10/28/2021 10/29/2021 Aaa AA+ AA+ 411,835.87 413,353.85 1,517.98 -32,824.15 379,011.72 380,529.70

UNITED STATES TREASURY
91282CEC1
US GOV

1.875
02/28/202702/28/2027N--- 335,157.03 335,000.00 92.9063 03/09/2022 03/11/2022 Aaa AA+ AA+ 335,096.93 335,114.00 17.07 -23,860.99 311,235.94 311,253.01

UNITED STATES TREASURY
91282CEF4
US GOV

2.500
03/31/202703/31/2027N--- 78,971.88 80,000.00 94.5547 04/27/2022 04/28/2022 Aaa AA+ AA+ 79,340.83 80,176.90 836.07 -3,697.08 75,643.75 76,479.82

UNITED STATES TREASURY
91282CET4
US GOV

2.625
05/31/202705/31/2027N--- 196,085.94 200,000.00 94.6563 06/09/2022 06/10/2022 Aaa AA+ AA+ 197,378.15 198,697.82 1,319.67 -8,065.65 189,312.50 190,632.17

UNITED STATES TREASURY
91282CEW7
US GOV

3.250
06/30/202706/30/2027N--- 136,181.25 135,000.00 96.5195 07/07/2022 07/08/2022 Aaa AA+ AA+ 135,810.58 136,545.85 735.27 -5,509.21 130,301.37 131,036.63

UNITED STATES TREASURY
9128282R0
US GOV

2.250
08/15/202708/15/2027N--- 371,429.30 390,000.00 93.2500 08/29/2022 08/30/2022 Aaa AA+ AA+ 376,736.65 377,098.26 361.61 -13,061.65 363,675.00 364,036.61

UNITED STATES TREASURY
91282CEN7
US GOV

2.750
04/30/202704/30/2027N--- 219,541.99 225,000.00 95.1523 08/29/2022 08/30/2022 Aaa AA+ AA+ 221,214.33 223,288.16 2,073.83 -7,121.56 214,092.77 216,166.61

UNITED STATES TREASURY
91282CAL5
US GOV

0.375
09/30/202709/30/2027N--- 359,158.20 425,000.00 86.9102 11/28/2022 11/29/2022 Aaa AA+ AA+ 375,064.20 375,730.44 666.24 -5,696.04 369,368.16 370,034.40

UNITED STATES TREASURY
91282CFZ9
US GOV

3.875
11/30/202711/30/2027N--- 541,415.82 535,000.00 98.3398 01/26/2023 01/30/2023 Aaa AA+ AA+ 540,086.48 545,297.62 5,211.13 -13,968.32 526,118.17 531,329.30

UNITED STATES TREASURY
91282CFE6
US GOV

3.125
08/15/202508/15/2025N--- 163,777.73 170,000.00 97.6367 03/09/2023 03/13/2023 Aaa AA+ AA+ 166,180.79 166,399.71 218.92 -198.36 165,982.42 166,201.34

UNITED STATES TREASURY
91282CBB6
US GOV

0.625
12/31/202712/31/2027N--- 312,635.55 370,000.00 86.9844 03/09/2023 03/13/2023 Aaa AA+ AA+ 323,316.44 323,703.97 387.53 -1,474.25 321,842.19 322,229.72

UNITED STATES TREASURY
91282CBS9
US GOV

1.250
03/31/202803/31/2028N--- 223,007.81 250,000.00 88.6055 05/01/2023 05/03/2023 Aaa AA+ AA+ 227,232.75 228,539.10 1,306.35 -5,719.08 221,513.67 222,820.02

UNITED STATES TREASURY
91282CFW6
US GOV

4.500
11/15/202511/15/2025N--- 159,650.00 160,000.00 99.6172 06/22/2023 06/26/2023 Aaa AA+ AA+ 159,751.31 161,867.79 2,116.48 -363.81 159,387.50 161,503.98

UNITED STATES TREASURY
91282CFM8
US GOV

4.125
09/30/202709/30/2027N--- 179,690.63 180,000.00 99.1914 06/22/2023 06/26/2023 Aaa AA+ AA+ 179,744.62 182,848.51 3,103.89 -1,200.09 178,544.53 181,648.42 Holdings Report Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 3 3.A.3.a
Packet Pg. 75
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Description,
Identifier,
Security Type,
Coupon
Effective Maturity,Final Maturity,Callable,Next Call Date Original Cost,
Current Units,
Market Price
Trade Date,Settle Date
MoodysRating,S&P Rating,Fitch Rating
Book Value,
Book Value + Accrued
Accrued Balance,
Net Unrealized Gain/Loss
Market Value,
Market Value + Accrued

UNITED STATES TREASURY
91282CHH7
US GOV

4.125
06/15/202606/15/2026N--- 49,658.20 50,000.00 99.0703 06/22/2023 06/26/2023 Aaa AA+ AA+ 49,733.31 50,167.22 433.91 -198.15 49,535.16 49,969.07

UNITED STATES TREASURY
91282CCE9
US GOV

1.250
05/31/202805/31/2028N--- 65,619.14 75,000.00 88.2148 06/22/2023 06/26/2023 Aaa AA+ AA+ 66,808.38 67,044.04 235.66 -647.25 66,161.13 66,396.79

UNITED STATES TREASURY
91282CHE4
US GOV

3.625
05/31/202805/31/2028N--- 112,906.64 115,000.00 97.3477 06/22/2023 06/26/2023 Aaa AA+ AA+ 113,174.35 114,222.23 1,047.88 -1,224.55 111,949.80 112,997.69

UNITED STATES TREASURY
91282CFW6
US GOV

4.500
11/15/202511/15/2025N--- 114,694.53 115,000.00 99.6172 06/27/2023 06/28/2023 Aaa AA+ AA+ 114,781.80 116,303.02 1,521.22 -222.03 114,559.77 116,080.99

UNITED STATES TREASURY
91282CCE9
US GOV

1.250
05/31/202805/31/2028N--- 217,333.98 250,000.00 88.2148 08/02/2023 08/04/2023 Aaa AA+ AA+ 220,892.01 221,677.53 785.52 -354.90 220,537.11 221,322.63

UNITED STATES TREASURY
91282CHA2
US GOV

3.500
04/30/202804/30/2028N--- 140,259.18 145,000.00 96.9023 08/02/2023 08/04/2023 Aaa AA+ AA+ 140,791.47 142,492.43 1,700.96 -283.07 140,508.40 142,209.36

UNITED STATES TREASURY
91282CHK0
US GOV

4.000
06/30/202806/30/2028N--- 123,330.08 125,000.00 98.7930 08/29/2023 08/30/2023 Aaa AA+ AA+ 123,493.57 124,331.49 837.91 -2.36 123,491.21 124,329.12

UNITED STATES TREASURY
91282CCH2
US GOV

1.250
06/30/202806/30/2028N--- 238,498.05 275,000.00 88.0156 08/29/2023 08/30/2023 Aaa AA+ AA+ 241,957.88 242,533.94 576.06 85.09 242,042.97 242,619.03

UNITED STATES TREASURY
91282CCV1
US GOV

1.125
08/31/202808/31/2028N--- 125,929.69 150,000.00 87.1328 10/03/2023 10/05/2023 Aaa AA+ AA+ 127,719.34 127,723.93 4.59 2,979.88 130,699.22 130,703.80

UNITED STATES TREASURY
91282CHH7
US GOV

4.125
06/15/202606/15/2026N--- 132,036.33 135,000.00 99.0703 10/03/2023 10/05/2023 Aaa AA+ AA+ 132,465.00 133,636.57 1,171.57 1,279.92 133,744.92 134,916.49

UNITED STATES TREASURY
91282CEQ0
US GOV

2.750
05/15/202505/15/2025N--- 120,419.92 125,000.00 97.4688 10/11/2023 10/12/2023 Aaa AA+ AA+ 121,504.03 122,514.50 1,010.47 331.91 121,835.94 122,846.41

UNITED STATES TREASURY
91282CCV1
US GOV

1.125
08/31/202808/31/2028N--- 106,005.86 125,000.00 87.1328 11/02/2023 11/03/2023 Aaa AA+ AA+ 107,165.23 107,169.05 3.82 1,750.78 108,916.01 108,919.84

UNITED STATES TREASURY
91282CJC6
US GOV

4.625
10/15/202610/15/2026N--- 174,261.72 175,000.00 100.3281 11/02/2023 11/03/2023 Aaa AA+ AA+ 174,341.17 177,392.91 3,051.74 1,233.05 175,574.22 178,625.96

UNITED STATES TREASURY
912810FF0
US GOV

5.250
11/15/202811/15/2028N--- 262,421.88 250,000.00 104.0039 12/06/2023 12/08/2023 Aaa AA+ AA+ 261,896.68 265,754.86 3,858.17 -1,886.92 260,009.77 263,867.94

UNITED STATES TREASURY
91282CCY5
US GOV

1.250
09/30/202809/30/2028N--- 174,773.44 200,000.00 87.4492 12/06/2023 12/08/2023 Aaa AA+ AA+ 175,870.35 176,915.43 1,045.08 -971.91 174,898.44 175,943.52

UNITED STATES TREASURY
91282CJS1
US GOV

4.250
12/31/202512/31/2025N--- 125,063.47 125,000.00 99.2188 02/01/2024 02/02/2024 Aaa AA+ AA+ 125,061.60 125,951.89 890.28 -1,038.17 124,023.44 124,913.72 Holdings Report Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 4 3.A.3.a
Packet Pg. 76
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) * Filtered By: Description ≠ "Payable" and Description ≠ "Receivable". * Weighted by: Market Value + Accrued.

Description,
Identifier,
Security Type,
Coupon
Effective Maturity,Final Maturity,Callable,Next Call Date Original Cost,
Current Units,
Market Price
Trade Date,Settle Date
MoodysRating,S&P Rating,Fitch Rating
Book Value,
Book Value + Accrued
Accrued Balance,
Net Unrealized Gain/Loss
Market Value,
Market Value + Accrued

UNITED STATES TREASURY
91282CDP3
US GOV

1.375
12/31/202812/31/2028N--- 156,146.48 175,000.00 87.4414 02/01/2024 02/02/2024 Aaa AA+ AA+ 156,416.44 156,819.69 403.25 -3,393.98 153,022.46 153,425.71 ------------
10/28/202610/28/2026------
11,351,019.5511,732,908.08
---
------
Aa1AAAA
11,425,703.0711,481,069.72
55,366.65
-386,274.22
11,039,428.8511,094,795.50
Holdings Report Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 5 3.A.3.a
Packet Pg. 77
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Identifier,
Description
Final Maturity Ending Current Units Earned Interest
Income
Realized Gain,
Realized Loss
Accretion Income Amortization Expense Misc Income Net Earned Income Interest Payment Received,
Ending Interest Due
91282CDP3UNITED STATES TREASURY
12/31/2028 175,000.00 185.10 0.00

0.00 269.96 0.00 0.00 455.06 0.00

0.00 912810FF0UNITED STATES TREASURY
11/15/2028 250,000.00 1,045.67 0.00

0.00 0.00 -181.32 0.00 864.36 0.00

0.00 419792M37HAWAII ST
10/01/2028 25,000.00 104.17 0.00

0.00 0.00 -8.05 0.00 96.11 0.00

0.00 91282CCY5UNITED STATES TREASURY
09/30/2028 200,000.00 198.09 0.00

0.00 378.69 0.00 0.00 576.78 0.00

0.00 91282CCV1UNITED STATES TREASURY
08/31/2028 150,000.00 134.40 0.00

0.00 350.77 0.00 0.00 485.17 843.75

0.00 91282CCV1UNITED STATES TREASURY
08/31/2028 125,000.00 112.00 0.00

0.00 282.58 0.00 0.00 394.58 703.13

0.00 91282CHK0UNITED STATES TREASURY
06/30/2028 125,000.00 398.35 0.00

0.00 25.32 0.00 0.00 423.67 0.00

0.00 91282CCH2UNITED STATES TREASURY
06/30/2028 275,000.00 273.87 0.00

0.00 555.18 0.00 0.00 829.05 0.00

0.00 91282CCE9UNITED STATES TREASURY
05/31/2028 75,000.00 74.28 0.00

0.00 140.08 0.00 0.00 214.36 0.00

0.00 91282CHE4UNITED STATES TREASURY
05/31/2028 115,000.00 330.31 0.00

0.00 31.25 0.00 0.00 361.56 0.00

0.00 91282CCE9UNITED STATES TREASURY
05/31/2028 250,000.00 247.61 0.00

0.00 495.63 0.00 0.00 743.24 0.00

0.00 91282CHA2UNITED STATES TREASURY
04/30/2028 145,000.00 404.33 0.00

0.00 73.39 0.00 0.00 477.72 0.00

0.00 91282CBS9UNITED STATES TREASURY
03/31/2028 250,000.00 247.61 0.00

0.00 407.48 0.00 0.00 655.09 0.00

0.00 91282CBB6UNITED STATES TREASURY
12/31/2027 370,000.00 184.24 0.00

0.00 898.14 0.00 0.00 1,082.37 0.00

0.00 91282CFZ9UNITED STATES TREASURY
11/30/2027 535,000.00 1,642.64 0.00

0.00 0.00 -100.50 0.00 1,542.14 0.00

0.00 419792M29HAWAII ST
10/01/2027 10,000.00 41.67 0.00

0.00 0.00 -3.42 0.00 38.24 0.00

0.00 91282CAL5UNITED STATES TREASURY
09/30/2027 425,000.00 126.28 0.00

0.00 1,023.01 0.00 0.00 1,149.29 0.00

0.00 91282CFM8UNITED STATES TREASURY
09/30/2027 180,000.00 588.32 0.00

0.00 5.21 0.00 0.00 593.53 0.00

0.00 9128282R0UNITED STATES TREASURY
08/15/2027 390,000.00 695.44 0.00

0.00 286.78 0.00 0.00 982.22 4,387.50

0.00 91282CEW7UNITED STATES TREASURY
06/30/2027 135,000.00 349.55 0.00

0.00 0.00 -18.47 0.00 331.09 0.00

0.00 91282CET4UNITED STATES TREASURY
05/31/2027 200,000.00 415.98 0.00

0.00 60.87 0.00 0.00 476.85 0.00

0.00 20772KTJ8CONNECTICUT ST
05/15/2027 60,000.00 252.50 0.00

0.00 0.00 -22.14 0.00 230.36 0.00

0.00 91282CEN7UNITED STATES TREASURY
04/30/2027 225,000.00 492.96 0.00

0.00 90.20 0.00 0.00 583.16 0.00

0.00 91282CEF4UNITED STATES TREASURY
03/31/2027 80,000.00 158.47 0.00

0.00 16.16 0.00 0.00 174.63 0.00

0.00 13063D3N6CALIFORNIA ST
03/01/2027 120,000.00 484.60 0.00

0.00 0.00 0.00 0.00 484.60 0.00

0.00 91282CEC1UNITED STATES TREASURY
02/28/2027 335,000.00 500.25 0.00

0.00 0.00 -2.49 0.00 497.75 3,140.63

0.00 532457CJ5ELI LILLY AND CO
02/09/2027 180,000.00 495.00 0.00

0.00 1.73 0.00 0.00 496.73 0.00

0.00 912828U24UNITED STATES TREASURY
11/15/2026 0.00 48.35 0.00
-1,324.02

38.69 0.00 0.00 -1,236.98 0.00

0.00 912828U24UNITED STATES TREASURY
11/15/2026 0.00 32.97 86.27

0.00 33.69 0.00 0.00 152.92 0.00

0.00 91282CJC6UNITED STATES TREASURY
10/15/2026 175,000.00 641.31 0.00

0.00 19.36 0.00 0.00 660.67 0.00

0.00 Income Detail Report Trade Date San Jacinto, City of (66779)02/01/2024 - 02/29/2024 Return to Table of Contents Dated: 03/05/2024 6 3.A.3.a
Packet Pg. 78
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Identifier,
Description
Final Maturity Ending Current Units Earned Interest
Income
Realized Gain,
Realized Loss
Accretion Income Amortization Expense Misc Income Net Earned Income Interest Payment Received,
Ending Interest Due
419792L95HAWAII ST
10/01/2026 15,000.00 57.35 0.00

0.00 0.00 0.00 0.00 57.35 0.00

0.00 91282CCZ2UNITED STATES TREASURY
09/30/2026 415,000.00 287.72 0.00

0.00 95.46 0.00 0.00 383.18 0.00

0.00 437076CV2HOME DEPOT INC
09/30/2026 55,000.00 226.88 0.00

0.00 2.35 0.00 0.00 229.23 0.00

0.00 24422EXD6JOHN DEERE CAPITAL CORP
09/08/2026 65,000.00 278.96 0.00

0.00 1.15 0.00 0.00 280.11 0.00

0.00 91282CCP4UNITED STATES TREASURY
07/31/2026 335,000.00 166.81 0.00

0.00 39.36 0.00 0.00 206.17 0.00

0.00 91282CCJ8UNITED STATES TREASURY
06/30/2026 125,000.00 87.14 0.00

0.00 3.29 0.00 0.00 90.42 0.00

0.00 91282CHH7UNITED STATES TREASURY
06/15/2026 50,000.00 163.42 0.00

0.00 8.80 0.00 0.00 172.22 0.00

0.00 91282CHH7UNITED STATES TREASURY
06/15/2026 135,000.00 441.24 0.00

0.00 83.07 0.00 0.00 524.31 0.00

0.00 91282CCF6UNITED STATES TREASURY
05/31/2026 220,000.00 130.74 0.00

0.00 15.48 0.00 0.00 146.21 0.00

0.00 91282CBW0UNITED STATES TREASURY
04/30/2026 235,000.00 140.42 0.00

0.00 0.00 -11.62 0.00 128.80 0.00

0.00 91282CBT7UNITED STATES TREASURY
03/31/2026 300,000.00 178.28 0.00

0.00 7.03 0.00 0.00 185.31 0.00

0.00 194162AQ6COLGATE-PALMOLIVE CO
03/02/2026 30,000.00 120.00 0.00

0.00 0.89 0.00 0.00 120.89 0.00

0.00 91282CBQ3UNITED STATES TREASURY
02/28/2026 335,000.00 133.40 0.00

0.00 155.58 0.00 0.00 288.98 837.50

0.00 713448FQ6PEPSICO INC
02/13/2026 120,000.00 455.00 0.00

0.00 1.81 0.00 0.00 456.81 2,730.00

0.00 91282CBH3UNITED STATES TREASURY
01/31/2026 125,000.00 37.35 0.00

0.00 45.77 0.00 0.00 83.12 0.00

0.00 91282CBC4UNITED STATES TREASURY
12/31/2025 155,000.00 46.31 0.00

0.00 26.50 0.00 0.00 72.81 0.00

0.00 91282CJS1UNITED STATES TREASURY
12/31/2025 125,000.00 408.65 0.00

0.00 0.00 -1.87 0.00 406.79 0.00

0.00 91282CAZ4UNITED STATES TREASURY
11/30/2025 205,000.00 60.91 0.00

0.00 10.30 0.00 0.00 71.22 0.00

0.00 91282CFW6UNITED STATES TREASURY
11/15/2025 160,000.00 573.63 0.00

0.00 11.16 0.00 0.00 584.78 0.00

0.00 91282CFW6UNITED STATES TREASURY
11/15/2025 115,000.00 412.29 0.00

0.00 9.79 0.00 0.00 422.08 0.00

0.00 91282CAT8UNITED STATES TREASURY
10/31/2025 60,000.00 11.95 0.00

0.00 7.51 0.00 0.00 19.46 0.00

0.00 419792L87HAWAII ST
10/01/2025 15,000.00 60.01 0.00

0.00 0.00 0.00 0.00 60.01 0.00

0.00 3135G05X7FEDERAL NATIONAL MORTGAGE ASSOCIATION
08/25/2025 415,000.00 129.69 0.00

0.00 30.82 0.00 0.00 160.52 778.13

0.00 194162AM5COLGATE-PALMOLIVE CO
08/15/2025 45,000.00 116.25 0.00

0.00 1.08 0.00 0.00 117.33 697.50

0.00 91282CFE6UNITED STATES TREASURY
08/15/2025 170,000.00 421.03 0.00

0.00 200.27 0.00 0.00 621.29 2,656.25

0.00 91282CAB7UNITED STATES TREASURY
07/31/2025 175,000.00 34.86 0.00

0.00 99.06 0.00 0.00 133.92 0.00

0.00 912828ZW3UNITED STATES TREASURY
06/30/2025 255,000.00 50.79 0.00

0.00 18.99 0.00 0.00 69.78 0.00

0.00 912828ZT0UNITED STATES TREASURY
05/31/2025 235,000.00 46.55 0.00

0.00 18.21 0.00 0.00 64.76 0.00

0.00 912828ZT0UNITED STATES TREASURY
05/31/2025 190,000.00 37.64 0.00

0.00 16.39 0.00 0.00 54.02 0.00

0.00 91282CEQ0UNITED STATES TREASURY
05/15/2025 125,000.00 273.87 0.00

0.00 223.68 0.00 0.00 497.55 0.00

0.00 Income Detail Report Trade Date San Jacinto, City of (66779)02/01/2024 - 02/29/2024 Return to Table of Contents Dated: 03/05/2024 7 3.A.3.a
Packet Pg. 79
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) * Filtered By: Description ≠ "Payable" and Description ≠ "Receivable". * Weighted by: Ending Market Value + Accrued.

Identifier,Description
Final Maturity Ending Current Units Earned Interest
Income
Realized Gain,
Realized Loss
Accretion Income Amortization Expense Misc Income Net Earned Income Interest Payment Received,
Ending Interest Due
912828ZL7UNITED STATES TREASURY
04/30/2025 155,000.00 46.31 0.00

0.00 10.32 0.00 0.00 56.63 0.00

0.00 437076CM2HOME DEPOT INC
04/15/2025 60,000.00 135.00 0.00

0.00 2.74 0.00 0.00 137.74 0.00

0.00 023135CE4AMAZON.COM INC
04/13/2025 295,000.00 737.50 0.00

0.00 12.48 0.00 0.00 749.98 0.00

0.00 89236TJN6TOYOTA MOTOR CREDIT CORP
09/13/2024 280,000.00 145.83 0.00

0.00 3.51 0.00 0.00 149.34 0.00

0.00 14913R2P1CATERPILLAR FINANCIAL SERVICES CORP
09/13/2024 180,000.00 90.00 0.00

0.00 6.54 0.00 0.00 96.54 0.00

0.00 69371RR40PACCAR FINANCIAL CORP
08/09/2024 100,000.00 41.67 0.00

0.00 1.44 0.00 0.00 43.10 250.00

0.00 31846V203FIRST AMER:GVT OBLG Y
02/29/2024 77,908.08 304.89 0.00

0.00 0.00 0.00 0.00 304.89 892.94
304.85
------
10/28/2026 11,732,908.08 17,996.62 86.27
-1,324.02
6,655.00 -349.89 0.00 23,063.97 17,917.33
304.85
Income Detail Report Trade Date San Jacinto, City of (66779)02/01/2024 - 02/29/2024 Return to Table of Contents Dated: 03/05/2024 8 3.A.3.a
Packet Pg. 80
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) * Does not Lock Down.
* Filtered By: Type = Buy or Type = Sell or Type = Call Redemption or Type = Put Redemption or Type = Corporate Action Sell or Type = Cash Transfer or Type = Maturity or Type = Coupon or Type = Principal Paydown or Type = Money Market Funds. * Weighted by: AbsoluteValue of Principal. * MMF transactions are expanded.* The Transaction Detail/Trading Activity reports provide our most up-to-date transactional details. As such, these reports are subject to change even after the other reports on the website have been locked down. While these reports can be useful tools in understanding recent activity,due to their dynamic nature we do not recommend using them for booking journal entries or reconciliation.

Identifier Description Current Units Type Settle Date Price Principal Realized Gain/Loss Amount31846V203 FIRST AMER:GVT OBLG Y 0.00 Money Market Funds 01/31/2024 --- 0.00 0.00 892.9491282CJS1 UNITED STATES TREASURY 125,000.00 Buy 02/02/2024 100.051 125,063.47 0.00 -125,545.1031846V203 FIRST AMER:GVT OBLG Y -281,016.79 Sell 02/02/2024 1.000 -281,016.79 0.00 281,016.7991282CDP3 UNITED STATES TREASURY 175,000.00 Buy 02/02/2024 89.227 156,146.48 0.00 -156,364.63912828U24 UNITED STATES TREASURY -185,000.00 Sell 02/09/2024 94.141 -174,160.16 -1,237.75 175,034.3469371RR40 PACCAR FINANCIAL CORP 0.00 Coupon 02/09/2024 --- 0.00 0.00 250.0031846V203 FIRST AMER:GVT OBLG Y -4,620.26 Sell 02/09/2024 1.000 -4,620.26 0.00 4,620.26532457CJ5 ELI LILLY AND CO 180,000.00 Buy 02/09/2024 99.947 179,904.60 0.00 -179,904.60713448FQ6 PEPSICO INC 0.00 Coupon 02/13/2024 --- 0.00 0.00 2,730.0031846V203 FIRST AMER:GVT OBLG Y 2,730.00 Buy 02/13/2024 1.000 2,730.00 0.00 -2,730.009128282R0 UNITED STATES TREASURY 0.00 Coupon 02/15/2024 --- 0.00 0.00 4,387.5031846V203 FIRST AMER:GVT OBLG Y 7,741.25 Buy 02/15/2024 1.000 7,741.25 0.00 -7,741.25194162AM5 COLGATE-PALMOLIVE CO 0.00 Coupon 02/15/2024 --- 0.00 0.00 697.5091282CFE6 UNITED STATES TREASURY 0.00 Coupon 02/15/2024 --- 0.00 0.00 2,656.253135G05X7 FEDERAL NATIONAL MORTGAGE

ASSOCIATION

0.00 Coupon 02/25/2024 --- 0.00 0.00 778.13
31846V203 FIRST AMER:GVT OBLG Y 778.13 Buy 02/26/2024 1.000 778.13 0.00 -778.1391282CBQ3 UNITED STATES TREASURY 0.00 Coupon 02/29/2024 --- 0.00 0.00 837.5091282CCV1 UNITED STATES TREASURY 0.00 Coupon 02/29/2024 --- 0.00 0.00 1,546.8831846V203 FIRST AMER:GVT OBLG Y 5,525.01 Buy 02/29/2024 1.000 5,525.01 0.00 -5,525.0131846V203 FIRST AMER:GVT OBLG Y 0.00 Money Market Funds 02/29/2024 --- 0.00 0.00 304.8691282CEC1 UNITED STATES TREASURY 0.00 Coupon 02/29/2024 --- 0.00 0.00 3,140.63--- --- 26,137.34 --- --- --- 18,091.73 -1,237.75 304.86 Transactions Realized Gain Loss Report San Jacinto, City of (66779)02/01/2024 - 02/29/2024 Return to Table of Contents Dated: 03/05/2024 9 3.A.3.a
Packet Pg. 81
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Amazon.com, Inc.

Caterpillar Inc.Colgate-Palmolive Company
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
023135CE4 CORP AMAZON.COM INC
Amazon.com, Inc.
295,000.00 Fixed N 1.072 3.056 5.125 04/13/2025
04/13/2025
3,392.50 294,820.38
298,212.88
288,236.75291,629.25

2.611%
023135CE4 CORP AMAZON.COM INC
Amazon.com, Inc.
295,000.00 Fixed N 1.072 3.056 5.125 04/13/2025
04/13/2025
3,392.50 294,820.38
298,212.88
288,236.75291,629.25

2.611%
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
14913R2P1 CORP CATERPILLAR FINANCIAL SERVICES
CORPCaterpillar Inc.
180,000.00 Fixed N 0.523 0.646 5.375 09/13/2024
09/13/2024
504.00 179,956.13
180,460.13
175,493.39175,997.39

1.590%
14913R2P1 CORP CATERPILLAR FINANCIAL SERVICES
CORPCaterpillar Inc.
180,000.00 Fixed N 0.523 0.646 5.375 09/13/2024
09/13/2024
504.00 179,956.13
180,460.13
175,493.39175,997.39

1.590%
Issuer Concentration with Yield GASB 40 Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 10 3.A.3.a
Packet Pg. 82
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Deere & Company
Eli Lilly and CompanyFederal National Mortgage AssociationPACCAR IncPepsiCo, Inc.

Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
194162AM5 CORP COLGATE-PALMOLIVE CO
Colgate-Palmolive Company
45,000.00 Fixed N 1.404 3.132 4.897 08/15/2025
08/15/2025

62.00 44,979.59
45,041.59
43,872.5743,934.57

0.397%
194162AQ6 CORP COLGATE-PALMOLIVE CO
Colgate-Palmolive Company
30,000.00 Fixed N 1.851 4.842 4.673 03/02/2026
03/02/2026
716.00 29,976.27
30,692.27
30,072.0030,788.00

0.272%
--- CORP COLGATE-PALMOLIVE CO
Colgate-Palmolive Company
75,000.00 Fixed N 1.588 3.825 4.805 11/05/2025
11/05/2025
778.00 74,955.86
75,733.86
73,944.5774,722.57

0.670%
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
24422EXD6 CORP JOHN DEERE CAPITAL CORP
Deere & Company
65,000.00 Fixed N 2.288 5.176 4.864 09/08/2026
09/08/2026
1,608.66 64,960.78
66,569.44
65,436.0967,044.75

0.593%
24422EXD6 CORP JOHN DEERE CAPITAL CORP
Deere & Company
65,000.00 Fixed N 2.288 5.176 4.864 09/08/2026
09/08/2026
1,608.66 64,960.78
66,569.44
65,436.0967,044.75

0.593%
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
532457CJ5 CORP ELI LILLY AND CO
Eli Lilly and Company
180,000.00 Fixed Y 2.663 4.519 4.642 02/09/2027
02/09/2027
495.00 179,906.33
180,401.33
179,299.30179,794.30

1.624%
532457CJ5 CORP ELI LILLY AND CO
Eli Lilly and Company
180,000.00 Fixed Y 2.663 4.519 4.642 02/09/2027
02/09/2027
495.00 179,906.33
180,401.33
179,299.30179,794.30

1.624%
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
3135G05X7 AGCY BOND FEDERAL NATIONAL MORTGAGE
ASSOCIATIONFederal National Mortgage Association
415,000.00 Fixed N 1.451 0.470 4.814 08/25/2025
08/25/2025

25.94 414,417.27
414,443.21
388,833.86388,859.79

3.522%
3135G05X7 AGCY BOND FEDERAL NATIONAL MORTGAGE
ASSOCIATIONFederal National Mortgage Association
415,000.00 Fixed N 1.451 0.470 4.814 08/25/2025
08/25/2025

25.94 414,417.27
414,443.21
388,833.86388,859.79

3.522%
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
69371RR40 CORP PACCAR FINANCIAL CORP
PACCAR Inc
100,000.00 Fixed N 0.434 0.518 5.283 08/09/2024
08/09/2024

30.56 99,991.99
100,022.54
97,922.4397,952.99

0.887%
69371RR40 CORP PACCAR FINANCIAL CORP
PACCAR Inc
100,000.00 Fixed N 0.434 0.518 5.283 08/09/2024
08/09/2024

30.56 99,991.99
100,022.54
97,922.4397,952.99

0.887%
Issuer Concentration with Yield GASB 40 Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 11 3.A.3.a
Packet Pg. 83
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) State of California
State of ConnecticutState of HawaiiThe Home Depot, Inc.

Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
713448FQ6 CORP PEPSICO INC
PepsiCo, Inc.
120,000.00 Fixed Y 1.794 4.571 4.870 02/13/2026
02/13/2026
273.00 119,953.33
120,226.33
119,288.75119,561.75

1.081%
713448FQ6 CORP PEPSICO INC
PepsiCo, Inc.
120,000.00 Fixed Y 1.794 4.571 4.870 02/13/2026
02/13/2026
273.00 119,953.33
120,226.33
119,288.75119,561.75

1.081%
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
13063D3N6 MUNI CALIFORNIA ST
State of California
120,000.00 Fixed N 2.703 4.847 4.743 03/01/2027
03/01/2027
2,907.60 120,000.00
122,907.60
120,340.80123,248.40

1.090%
13063D3N6 MUNI CALIFORNIA ST
State of California
120,000.00 Fixed N 2.703 4.847 4.743 03/01/2027
03/01/2027
2,907.60 120,000.00
122,907.60
120,340.80123,248.40

1.090%
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
20772KTJ8 MUNI CONNECTICUT ST
State of Connecticut
60,000.00 Fixed N 2.898 4.509 4.643 05/15/2027
05/15/2027
892.17 60,959.37
61,851.54
60,716.4061,608.57

0.550%
20772KTJ8 MUNI CONNECTICUT ST
State of Connecticut
60,000.00 Fixed N 2.898 4.509 4.643 05/15/2027
05/15/2027
892.17 60,959.37
61,851.54
60,716.4061,608.57

0.550%
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
419792L95 MUNI HAWAII ST
State of Hawaii
15,000.00 Fixed N 2.393 4.590 4.682 10/01/2026
10/01/2026
137.64 15,000.00
15,137.64
14,965.3515,102.99

0.136%
419792M37 MUNI HAWAII ST
State of Hawaii
25,000.00 Fixed N 4.032 4.522 4.535 10/01/2028
10/01/2028
250.00 25,489.98
25,739.98
25,476.2525,726.25

0.231%
419792L87 MUNI HAWAII ST
State of Hawaii
15,000.00 Fixed N 1.499 4.805 4.878 10/01/2025
10/01/2025
144.03 15,000.00
15,144.03
14,982.0015,126.03

0.136%
419792M29 MUNI HAWAII ST
State of Hawaii
10,000.00 Fixed N 3.228 4.513 4.564 10/01/2027
10/01/2027
100.00 10,159.69
10,259.69
10,142.3010,242.30

0.092%
--- MUNI HAWAII ST
State of Hawaii
65,000.00 Fixed N 2.955 4.601 4.651 06/15/2027
06/15/2027
631.67 65,649.66
66,281.33
65,565.9066,197.57

0.594%
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
437076CM2 CORP HOME DEPOT INC
The Home Depot, Inc.
60,000.00 Fixed Y 1.077 2.760 5.075 04/15/2025
04/15/2025
612.00 59,960.52
60,572.52
58,455.3359,067.33

0.530%
437076CV2 CORP HOME DEPOT INC
The Home Depot, Inc.
55,000.00 Fixed Y 2.309 5.037 4.927 08/30/2026
09/30/2026
657.94 54,886.70
55,544.63
55,030.1155,688.04

0.498%
--- CORP HOME DEPOT INC
The Home Depot, Inc.
115,000.00 Fixed Y 1.675 3.849 5.003 12/15/2025
12/30/2025
1,269.94 114,847.21
116,117.15
113,485.43114,755.37

1.028%
Issuer Concentration with Yield GASB 40 Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 12 3.A.3.a
Packet Pg. 84
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Toyota Motor Corporation
U.S. BancorpUnited States
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
89236TJN6 CORP TOYOTA MOTOR CREDIT CORP
Toyota Motor Corporation
280,000.00 Fixed N 0.523 0.641 5.405 09/13/2024
09/13/2024
816.67 279,976.44
280,793.10
272,983.87273,800.53

2.473%
89236TJN6 CORP TOYOTA MOTOR CREDIT CORP
Toyota Motor Corporation
280,000.00 Fixed N 0.523 0.641 5.405 09/13/2024
09/13/2024
816.67 279,976.44
280,793.10
272,983.87273,800.53

2.473%
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
31846V203 MMFUND FIRST AMER:GVT OBLG Y
U.S. Bancorp
77,908.08 Fixed N 0.000 4.930 4.930 02/29/2024
02/29/2024

0.00 77,908.08
77,908.08
77,908.0877,908.08

0.706%
31846V203 MMFUND FIRST AMER:GVT OBLG Y
U.S. Bancorp
77,908.08 Fixed N 0.000 4.930 4.930 02/29/2024
02/29/2024

0.00 77,908.08
77,908.08
77,908.0877,908.08

0.706%
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
912828ZW3 US GOV UNITED STATES TREASURY
United States
255,000.00 Fixed N 1.302 0.344 4.866 06/30/2025
06/30/2025
106.83 254,681.75
254,788.58
239,958.98240,065.82

2.174%
912828ZT0 US GOV UNITED STATES TREASURY
United States
235,000.00 Fixed N 1.219 0.348 4.923 05/31/2025
05/31/2025
147.68 234,712.44
234,860.11
221,827.15221,974.83

2.009%
912828ZT0 US GOV UNITED STATES TREASURY
United States
190,000.00 Fixed N 1.219 0.359 4.923 05/31/2025
05/31/2025
119.40 189,741.21
189,860.61
179,349.61179,469.01

1.625%
91282CAT8 US GOV UNITED STATES TREASURY
United States
60,000.00 Fixed N 1.625 0.408 4.760 10/31/2025
10/31/2025

50.27 59,842.43
59,892.70
55,710.9455,761.21

0.505%
91282CAZ4 US GOV UNITED STATES TREASURY
United States
205,000.00 Fixed N 1.705 0.439 4.722 11/30/2025
11/30/2025
193.24 204,771.74
204,964.97
190,185.55190,378.79

1.723%
912828ZL7 US GOV UNITED STATES TREASURY
United States
155,000.00 Fixed N 1.137 0.459 4.942 04/30/2025
04/30/2025
194.81 154,848.62
155,043.43
147,062.30147,257.12

1.332%
91282CBC4 US GOV UNITED STATES TREASURY
United States
155,000.00 Fixed N 1.787 0.592 4.678 12/31/2025
12/31/2025

97.41 154,387.54
154,484.95
143,399.22143,496.63

1.299%
91282CBH3 US GOV UNITED STATES TREASURY
United States
125,000.00 Fixed N 1.871 0.842 4.662 01/31/2026
01/31/2026

38.63 123,891.04
123,929.67
115,263.67115,302.31

1.044%
91282CBT7 US GOV UNITED STATES TREASURY
United States
300,000.00 Fixed N 2.019 0.780 4.583 03/31/2026
03/31/2026
940.57 299,813.57
300,754.15
277,382.81278,323.39

2.513%
91282CCF6 US GOV UNITED STATES TREASURY
United States
220,000.00 Fixed N 2.182 0.841 4.562 05/31/2026
05/31/2026
414.75 219,556.65
219,971.40
202,245.31202,660.07

1.832%
91282CBW0 US GOV UNITED STATES TREASURY
United States
235,000.00 Fixed N 2.100 0.687 4.575 04/30/2026
04/30/2026
590.73 235,318.32
235,909.05
216,649.80217,240.53

1.963%
91282CCP4 US GOV UNITED STATES TREASURY
United States
335,000.00 Fixed N 2.351 0.775 4.516 07/31/2026
07/31/2026
172.56 333,796.15
333,968.71
305,425.78305,598.34

2.767%
91282CCJ8 US GOV UNITED STATES TREASURY
United States
125,000.00 Fixed N 2.261 0.909 4.517 06/30/2026
06/30/2026
183.29 124,902.88
125,086.18
115,014.65115,197.94

1.042%
91282CBQ3 US GOV UNITED STATES TREASURY
United States
335,000.00 Fixed N 1.947 1.099 4.631 02/28/2026
02/28/2026

4.55 331,045.07
331,049.63
308,854.30308,858.85

2.798%
91282CAB7 US GOV UNITED STATES TREASURY
United States
175,000.00 Fixed N 1.385 0.971 4.839 07/31/2025
07/31/2025

36.06 173,228.30
173,264.36
164,103.52164,139.57

1.487%
91282CCZ2 US GOV UNITED STATES TREASURY
United States
415,000.00 Fixed N 2.494 1.176 4.464 09/30/2026
09/30/2026
1,517.98 411,835.87
413,353.85
379,011.72380,529.70

3.433%
91282CEC1 US GOV UNITED STATES TREASURY
United States
335,000.00 Fixed N 2.865 1.865 4.426 02/28/2027
02/28/2027

17.07 335,096.93
335,114.00
311,235.94311,253.01

2.819%
Issuer Concentration with Yield GASB 40 Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 13 3.A.3.a
Packet Pg. 85
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
91282CEF4 US GOV UNITED STATES TREASURY
United States
80,000.00 Fixed N 2.889 2.781 4.407 03/31/2027
03/31/2027
836.07 79,340.83
80,176.90
75,643.7576,479.82

0.685%
91282CET4 US GOV UNITED STATES TREASURY
United States
200,000.00 Fixed N 3.046 3.052 4.406 05/31/2027
05/31/2027
1,319.67 197,378.15
198,697.82
189,312.50190,632.17

1.715%
91282CEW7 US GOV UNITED STATES TREASURY
United States
135,000.00 Fixed N 3.100 3.059 4.382 06/30/2027
06/30/2027
735.27 135,810.58
136,545.85
130,301.37131,036.63

1.180%
9128282R0 US GOV UNITED STATES TREASURY
United States
390,000.00 Fixed N 3.270 3.299 4.372 08/15/2027
08/15/2027
361.61 376,736.65
377,098.26
363,675.00364,036.61

3.294%
91282CEN7 US GOV UNITED STATES TREASURY
United States
225,000.00 Fixed N 2.958 3.315 4.405 04/30/2027
04/30/2027
2,073.83 221,214.33
223,288.16
214,092.77216,166.61

1.939%
91282CAL5 US GOV UNITED STATES TREASURY
United States
425,000.00 Fixed N 3.480 3.924 4.359 09/30/2027
09/30/2027
666.24 375,064.20
375,730.44
369,368.16370,034.40

3.346%
91282CFZ9 US GOV UNITED STATES TREASURY
United States
535,000.00 Fixed N 3.418 3.602 4.358 11/30/2027
11/30/2027
5,211.13 540,086.48
545,297.62
526,118.17531,329.30

4.766%
91282CFE6 US GOV UNITED STATES TREASURY
United States
170,000.00 Fixed N 1.404 4.738 4.818 08/15/2025
08/15/2025
218.92 166,180.79
166,399.71
165,982.42166,201.34

1.504%
91282CBB6 US GOV UNITED STATES TREASURY
United States
370,000.00 Fixed N 3.707 4.227 4.346 12/31/2027
12/31/2027
387.53 323,316.44
323,703.97
321,842.19322,229.72

2.915%
91282CBS9 US GOV UNITED STATES TREASURY
United States
250,000.00 Fixed N 3.881 3.673 4.323 03/31/2028
03/31/2028
1,306.35 227,232.75
228,539.10
221,513.67222,820.02

2.007%
91282CFW6 US GOV UNITED STATES TREASURY
United States
160,000.00 Fixed N 1.606 4.596 4.732 11/15/2025
11/15/2025
2,116.48 159,751.31
161,867.79
159,387.50161,503.98

1.444%
91282CFM8 US GOV UNITED STATES TREASURY
United States
180,000.00 Fixed N 3.241 4.168 4.370 09/30/2027
09/30/2027
3,103.89 179,744.62
182,848.51
178,544.53181,648.42

1.617%
91282CHH7 US GOV UNITED STATES TREASURY
United States
50,000.00 Fixed N 2.144 4.372 4.554 06/15/2026
06/15/2026
433.91 49,733.31
50,167.22
49,535.1649,969.07

0.449%
91282CCE9 US GOV UNITED STATES TREASURY
United States
75,000.00 Fixed N 4.044 4.077 4.313 05/31/2028
05/31/2028
235.66 66,808.38
67,044.04
66,161.1366,396.79

0.599%
91282CHE4 US GOV UNITED STATES TREASURY
United States
115,000.00 Fixed N 3.855 4.035 4.313 05/31/2028
05/31/2028
1,047.88 113,174.35
114,222.23
111,949.80112,997.69

1.014%
91282CFW6 US GOV UNITED STATES TREASURY
United States
115,000.00 Fixed N 1.606 4.617 4.732 11/15/2025
11/15/2025
1,521.22 114,781.80
116,303.02
114,559.77116,080.99

1.038%
91282CCE9 US GOV UNITED STATES TREASURY
United States
250,000.00 Fixed N 4.044 4.277 4.313 05/31/2028
05/31/2028
785.52 220,892.01
221,677.53
220,537.11221,322.63

1.998%
91282CHA2 US GOV UNITED STATES TREASURY
United States
145,000.00 Fixed N 3.782 4.268 4.319 04/30/2028
04/30/2028
1,700.96 140,791.47
142,492.43
140,508.40142,209.36

1.273%
91282CHK0 US GOV UNITED STATES TREASURY
United States
125,000.00 Fixed N 3.911 4.308 4.307 06/30/2028
06/30/2028
837.91 123,493.57
124,331.49
123,491.21124,329.12

1.119%
91282CCH2 US GOV UNITED STATES TREASURY
United States
275,000.00 Fixed N 4.127 4.322 4.310 06/30/2028
06/30/2028
576.06 241,957.88
242,533.94
242,042.97242,619.03

2.193%
91282CCV1 US GOV UNITED STATES TREASURY
United States
150,000.00 Fixed N 4.299 4.840 4.301 08/31/2028
08/31/2028

4.59 127,719.34
127,723.93
130,699.22130,703.80

1.184%
91282CHH7 US GOV UNITED STATES TREASURY
United States
135,000.00 Fixed N 2.144 5.004 4.554 06/15/2026
06/15/2026
1,171.57 132,465.00
133,636.57
133,744.92134,916.49

1.212%
91282CEQ0 US GOV UNITED STATES TREASURY
United States
125,000.00 Fixed N 1.160 5.175 4.929 05/15/2025
05/15/2025
1,010.47 121,504.03
122,514.50
121,835.94122,846.41

1.104%
91282CCV1 US GOV UNITED STATES TREASURY
United States
125,000.00 Fixed N 4.299 4.680 4.301 08/31/2028
08/31/2028

3.82 107,165.23
107,169.05
108,916.01108,919.84

0.987%
91282CJC6 US GOV UNITED STATES TREASURY
United States
175,000.00 Fixed N 2.408 4.779 4.489 10/15/2026
10/15/2026
3,051.74 174,341.17
177,392.91
175,574.22178,625.96

1.590%
912810FF0 US GOV UNITED STATES TREASURY
United States
250,000.00 Fixed N 4.096 4.127 4.300 11/15/2028
11/15/2028
3,858.17 261,896.68
265,754.86
260,009.77263,867.94

2.355%
91282CCY5 US GOV UNITED STATES TREASURY
United States
200,000.00 Fixed N 4.341 4.170 4.295 09/30/2028
09/30/2028
1,045.08 175,870.35
176,915.43
174,898.44175,943.52

1.584%
91282CJS1 US GOV UNITED STATES TREASURY
United States
125,000.00 Fixed N 1.733 4.220 4.696 12/31/2025
12/31/2025
890.28 125,061.60
125,951.89
124,023.44124,913.72

1.123%
91282CDP3 US GOV UNITED STATES TREASURY
United States
175,000.00 Fixed N 4.573 3.802 4.277 12/31/2028
12/31/2028
403.25 156,416.44
156,819.69
153,022.46153,425.71

1.386%
Issuer Concentration with Yield GASB 40 Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 14 3.A.3.a
Packet Pg. 86
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Summary
* Grouped by: Issuer Concentration. * Groups Sorted by: Issuer Concentration. * Filtered By: Description ≠ "Payable" and Description ≠ "Receivable". * Weighted by: Ending Market Value + Accrued, except Book Yield by Base Book Value + Accrued.

Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
--- US GOV UNITED STATES TREASURY
United States
9,585,000.00 Fixed N 2.763 2.710 4.506 02/02/2027
02/02/2027
41,740.96 9,277,400.24
9,319,141.19
8,939,973.248,981,714.20

80.982%
Identifier Security Type Description,
Issuer Concentration
Ending Current Units Coupon Type Calla
ble
Duration Book
Yield
Yield Ending
EffectiveMaturity,Final Maturity
Ending Accrued
Balance
Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
% of MarketValue
--- --- ---
---
11,732,908.08 Fixed --- 2.509 2.675 4.599 10/28/2026
10/28/2026
55,366.65 11,425,703.07
11,481,069.72
11,039,428.8511,094,795.50
100.000%
Issuer Concentration with Yield GASB 40 Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 15 3.A.3.a
Packet Pg. 87
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024)

AGCY BOND
CORP
Identifier,Description,Security Type
% of MarketValue +Accrued
Coupon Type Callab
le
Duration S&P
Rating,Moody'sRating
Ending Current Units Ending
EffectiveMaturity,Final Maturity
Book
Yield,
Yield
Ending Accrued
Balance
Original Cost Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
3135G05X7FEDERAL NATIONAL MORTGAGEASSOCIATIONAGCY BOND

3.505% Fixed N 1.451 AA+
Aaa
415,000.00 08/25/2025
08/25/2025

0.4704.814

25.94 413,057.80 414,417.27
414,443.21
388,833.86388,859.79
3135G05X7FEDERAL NATIONAL MORTGAGEASSOCIATIONAGCY BOND

3.505% Fixed N 1.451 AA+
Aaa
415,000.00 08/25/2025
08/25/2025

0.4704.814

25.94 413,057.80 414,417.27
414,443.21
388,833.86388,859.79
Identifier,Description,Security Type
% of MarketValue +Accrued
Coupon Type Callab
le
Duration S&P
Rating,Moody'sRating
Ending Current Units Ending
EffectiveMaturity,Final Maturity
Book
Yield,
Yield
Ending Accrued
Balance
Original Cost Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
69371RR40PACCAR FINANCIAL CORPCORP

0.883% Fixed N 0.434 A+
A1
100,000.00 08/09/2024
08/09/2024

0.5185.283

30.56 99,946.00 99,991.99
100,022.54
97,922.4397,952.99
89236TJN6TOYOTA MOTOR CREDIT CORPCORP

2.468% Fixed N 0.523 A+
A1
280,000.00 09/13/2024
09/13/2024

0.6415.405
816.67 279,868.40 279,976.44
280,793.10
272,983.87273,800.53
14913R2P1CATERPILLAR FINANCIAL SERVICES CORPCORP

1.586% Fixed N 0.523 A
A2
180,000.00 09/13/2024
09/13/2024

0.6465.375
504.00 179,755.20 179,956.13
180,460.13
175,493.39175,997.39
Security Type GASB 40 Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 16 3.A.3.a
Packet Pg. 88
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) MMFUND
MUNI
Identifier,Description,Security Type
% of MarketValue +Accrued
Coupon Type Callab
le
Duration S&P
Rating,Moody'sRating
Ending Current Units Ending
EffectiveMaturity,Final Maturity
Book
Yield,
Yield
Ending Accrued
Balance
Original Cost Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
023135CE4AMAZON.COM INCCORP

2.629% Fixed N 1.072 AA
A1
295,000.00 04/13/2025
04/13/2025

3.0565.125
3,392.50 294,530.95 294,820.38
298,212.88
288,236.75291,629.25
437076CM2HOME DEPOT INCCORP

0.532% Fixed Y 1.077 A
A2
60,000.00 04/15/2025
04/15/2025

2.7605.075
612.00 59,895.00 59,960.52
60,572.52
58,455.3359,067.33
194162AM5COLGATE-PALMOLIVE COCORP

0.396% Fixed N 1.404 AAAa3 45,000.00 08/15/2025 08/15/2025 3.132 4.897 62.00 44,958.60 44,979.59 45,041.59 43,872.57 43,934.57 713448FQ6PEPSICO INCCORP

1.078% Fixed Y 1.794 A+
A1
120,000.00 02/13/2026
02/13/2026

4.5714.870
273.00 119,930.40 119,953.33
120,226.33
119,288.75119,561.75
194162AQ6COLGATE-PALMOLIVE COCORP

0.277% Fixed N 1.851 AAAa3 30,000.00 03/02/2026 03/02/2026 4.842 4.673 716.00 29,965.20 29,976.27 30,692.27 30,072.00 30,788.00 437076CV2HOME DEPOT INCCORP

0.502% Fixed Y 2.309 A
A2
55,000.00 08/30/2026
09/30/2026

5.0374.927
657.94 54,879.55 54,886.70
55,544.63
55,030.1155,688.04
24422EXD6JOHN DEERE CAPITAL CORPCORP

0.604% Fixed N 2.288 A
A1
65,000.00 09/08/2026
09/08/2026

5.1764.864
1,608.66 64,953.85 64,960.78
66,569.44
65,436.0967,044.75
532457CJ5ELI LILLY AND COCORP

1.621% Fixed Y 2.663 A+
A1
180,000.00 02/09/2027
02/09/2027

4.5194.642
495.00 179,904.60 179,906.33
180,401.33
179,299.30179,794.30
------CORP

12.576% Fixed --- 1.253 A+
A1
1,410,000.00 07/04/2025
07/06/2025

2.6125.099
9,168.32 1,408,587.75 1,409,368.45
1,418,536.77
1,386,090.571,395,258.89
Identifier,Description,Security Type
% of MarketValue +Accrued
Coupon Type Callab
le
Duration S&P
Rating,Moody'sRating
Ending Current Units Ending
EffectiveMaturity,Final Maturity
Book
Yield,
Yield
Ending Accrued
Balance
Original Cost Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
31846V203FIRST AMER:GVT OBLG YMMFUND

0.702% Fixed N 0.000 AAAm
Aaa
77,908.08 02/29/2024
02/29/2024

4.9304.930

0.00 77,908.08 77,908.08
77,908.08
77,908.0877,908.08
31846V203FIRST AMER:GVT OBLG YMMFUND

0.702% Fixed N 0.000 AAAm
Aaa
77,908.08 02/29/2024
02/29/2024

4.9304.930

0.00 77,908.08 77,908.08
77,908.08
77,908.0877,908.08
Identifier,Description,Security Type
% of MarketValue +Accrued
Coupon Type Callab
le
Duration S&P
Rating,Moody'sRating
Ending Current Units Ending
EffectiveMaturity,Final Maturity
Book
Yield,
Yield
Ending Accrued
Balance
Original Cost Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
419792L87HAWAII STMUNI

0.136% Fixed N 1.499 AA+
Aa2
15,000.00 10/01/2025
10/01/2025

4.8054.878
144.03 15,000.00 15,000.00
15,144.03
14,982.0015,126.03
419792L95HAWAII STMUNI

0.136% Fixed N 2.393 AA+
Aa2
15,000.00 10/01/2026
10/01/2026

4.5904.682
137.64 15,000.00 15,000.00
15,137.64
14,965.3515,102.99
13063D3N6CALIFORNIA STMUNI

1.111% Fixed N 2.703 AAAa2 120,000.00 03/01/2027 03/01/2027 4.847 4.743 2,907.60 120,000.00 120,000.00 122,907.60 120,340.80 123,248.40 20772KTJ8CONNECTICUT STMUNI

0.555% Fixed N 2.898 AAAa3 60,000.00 05/15/2027 05/15/2027 4.509 4.643 892.17 61,152.00 60,959.37 61,851.54 60,716.40 61,608.57 419792M29HAWAII STMUNI

0.092% Fixed N 3.228 AA+
Aa2
10,000.00 10/01/2027
10/01/2027

4.5134.564
100.00 10,168.30 10,159.69
10,259.69
10,142.3010,242.30
Security Type GASB 40 Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 17 3.A.3.a
Packet Pg. 89
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) US GOV
Identifier,Description,Security Type
% of MarketValue +Accrued
Coupon Type Callab
le
Duration S&P
Rating,Moody'sRating
Ending Current Units Ending
EffectiveMaturity,Final Maturity
Book
Yield,
Yield
Ending Accrued
Balance
Original Cost Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
419792M37HAWAII STMUNI

0.232% Fixed N 4.032 AA+
Aa2
25,000.00 10/01/2028
10/01/2028

4.5224.535
250.00 25,510.25 25,489.98
25,739.98
25,476.2525,726.25
------MUNI

2.263% Fixed N 2.817 AAAa2 245,000.00 04/16/2027 04/16/2027 4.698 4.694 4,431.44 246,830.55 246,609.03 251,040.47 246,623.10 251,054.54 Identifier,Description,Security Type
% of MarketValue +Accrued
Coupon Type Callab
le
Duration S&P
Rating,Moody'sRating
Ending Current Units Ending
EffectiveMaturity,Final Maturity
Book
Yield,
Yield
Ending Accrued
Balance
Original Cost Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
912828ZL7UNITED STATES TREASURYUS GOV

1.327% Fixed N 1.137 AA+
Aaa
155,000.00 04/30/2025
04/30/2025

0.4594.942
194.81 154,461.13 154,848.62
155,043.43
147,062.30147,257.12
91282CEQ0UNITED STATES TREASURYUS GOV

1.107% Fixed N 1.160 AA+
Aaa
125,000.00 05/15/2025
05/15/2025

5.1754.929
1,010.47 120,419.92 121,504.03
122,514.50
121,835.94122,846.41
912828ZT0UNITED STATES TREASURYUS GOV

2.001% Fixed N 1.219 AA+
Aaa
235,000.00 05/31/2025
05/31/2025

0.3484.923
147.68 233,971.88 234,712.44
234,860.11
221,827.15221,974.83
912828ZT0UNITED STATES TREASURYUS GOV

1.618% Fixed N 1.219 AA+
Aaa
190,000.00 05/31/2025
05/31/2025

0.3594.923
119.40 189,094.53 189,741.21
189,860.61
179,349.61179,469.01
912828ZW3UNITED STATES TREASURYUS GOV

2.164% Fixed N 1.302 AA+
Aaa
255,000.00 06/30/2025
06/30/2025

0.3444.866
106.83 253,894.34 254,681.75
254,788.58
239,958.98240,065.82
91282CAB7UNITED STATES TREASURYUS GOV

1.479% Fixed N 1.385 AA+
Aaa
175,000.00 07/31/2025
07/31/2025

0.9714.839

36.06 170,358.40 173,228.30
173,264.36
164,103.52164,139.57
91282CFE6UNITED STATES TREASURYUS GOV

1.498% Fixed N 1.404 AA+
Aaa
170,000.00 08/15/2025
08/15/2025

4.7384.818
218.92 163,777.73 166,180.79
166,399.71
165,982.42166,201.34
91282CAT8UNITED STATES TREASURYUS GOV

0.503% Fixed N 1.625 AA+
Aaa
60,000.00 10/31/2025
10/31/2025

0.4084.760

50.27 59,547.66 59,842.43
59,892.70
55,710.9455,761.21
91282CFW6UNITED STATES TREASURYUS GOV

1.456% Fixed N 1.606 AA+
Aaa
160,000.00 11/15/2025
11/15/2025

4.5964.732
2,116.48 159,650.00 159,751.31
161,867.79
159,387.50161,503.98
91282CFW6UNITED STATES TREASURYUS GOV

1.046% Fixed N 1.606 AA+
Aaa
115,000.00 11/15/2025
11/15/2025

4.6174.732
1,521.22 114,694.53 114,781.80
116,303.02
114,559.77116,080.99
91282CAZ4UNITED STATES TREASURYUS GOV

1.716% Fixed N 1.705 AA+
Aaa
205,000.00 11/30/2025
11/30/2025

0.4394.722
193.24 204,375.39 204,771.74
204,964.97
190,185.55190,378.79
91282CBC4UNITED STATES TREASURYUS GOV

1.293% Fixed N 1.787 AA+
Aaa
155,000.00 12/31/2025
12/31/2025

0.5924.678

97.41 153,395.51 154,387.54
154,484.95
143,399.22143,496.63
91282CJS1UNITED STATES TREASURYUS GOV

1.126% Fixed N 1.733 AA+
Aaa
125,000.00 12/31/2025
12/31/2025

4.2204.696
890.28 125,063.47 125,061.60
125,951.89
124,023.44124,913.72
91282CBH3UNITED STATES TREASURYUS GOV

1.039% Fixed N 1.871 AA+
Aaa
125,000.00 01/31/2026
01/31/2026

0.8424.662

38.63 122,236.33 123,891.04
123,929.67
115,263.67115,302.31
91282CBQ3UNITED STATES TREASURYUS GOV

2.784% Fixed N 1.947 AA+
Aaa
335,000.00 02/28/2026
02/28/2026

1.0994.631

4.55 326,520.31 331,045.07
331,049.63
308,854.30308,858.85
91282CBT7UNITED STATES TREASURYUS GOV

2.509% Fixed N 2.019 AA+
Aaa
300,000.00 03/31/2026
03/31/2026

0.7804.583
940.57 299,566.41 299,813.57
300,754.15
277,382.81278,323.39
Security Type GASB 40 Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 18 3.A.3.a
Packet Pg. 90
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Identifier,
Description,Security Type
% of MarketValue +Accrued
Coupon Type Callab
le
Duration S&P
Rating,Moody'sRating
Ending Current Units Ending
EffectiveMaturity,Final Maturity
Book
Yield,
Yield
Ending Accrued
Balance
Original Cost Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
91282CBW0UNITED STATES TREASURYUS GOV

1.958% Fixed N 2.100 AA+
Aaa
235,000.00 04/30/2026
04/30/2026

0.6874.575
590.73 235,688.48 235,318.32
235,909.05
216,649.80217,240.53
91282CCF6UNITED STATES TREASURYUS GOV

1.827% Fixed N 2.182 AA+
Aaa
220,000.00 05/31/2026
05/31/2026

0.8414.562
414.75 219,028.91 219,556.65
219,971.40
202,245.31202,660.07
91282CHH7UNITED STATES TREASURYUS GOV

0.450% Fixed N 2.144 AA+
Aaa
50,000.00 06/15/2026
06/15/2026

4.3724.554
433.91 49,658.20 49,733.31
50,167.22
49,535.1649,969.07
91282CHH7UNITED STATES TREASURYUS GOV

1.216% Fixed N 2.144 AA+
Aaa
135,000.00 06/15/2026
06/15/2026

5.0044.554
1,171.57 132,036.33 132,465.00
133,636.57
133,744.92134,916.49
91282CCJ8UNITED STATES TREASURYUS GOV

1.038% Fixed N 2.261 AA+
Aaa
125,000.00 06/30/2026
06/30/2026

0.9094.517
183.29 124,804.69 124,902.88
125,086.18
115,014.65115,197.94
91282CCP4UNITED STATES TREASURYUS GOV

2.754% Fixed N 2.351 AA+
Aaa
335,000.00 07/31/2026
07/31/2026

0.7754.516
172.56 332,579.10 333,796.15
333,968.71
305,425.78305,598.34
91282CCZ2UNITED STATES TREASURYUS GOV

3.430% Fixed N 2.494 AA+
Aaa
415,000.00 09/30/2026
09/30/2026

1.1764.464
1,517.98 409,050.59 411,835.87
413,353.85
379,011.72380,529.70
91282CJC6UNITED STATES TREASURYUS GOV

1.610% Fixed N 2.408 AA+
Aaa
175,000.00 10/15/2026
10/15/2026

4.7794.489
3,051.74 174,261.72 174,341.17
177,392.91
175,574.22178,625.96
91282CEC1UNITED STATES TREASURYUS GOV

2.805% Fixed N 2.865 AA+
Aaa
335,000.00 02/28/2027
02/28/2027

1.8654.426

17.07 335,157.03 335,096.93
335,114.00
311,235.94311,253.01
91282CEF4UNITED STATES TREASURYUS GOV

0.689% Fixed N 2.889 AA+
Aaa
80,000.00 03/31/2027
03/31/2027

2.7814.407
836.07 78,971.88 79,340.83
80,176.90
75,643.7576,479.82
91282CEN7UNITED STATES TREASURYUS GOV

1.948% Fixed N 2.958 AA+
Aaa
225,000.00 04/30/2027
04/30/2027

3.3154.405
2,073.83 219,541.99 221,214.33
223,288.16
214,092.77216,166.61
91282CET4UNITED STATES TREASURYUS GOV

1.718% Fixed N 3.046 AA+
Aaa
200,000.00 05/31/2027
05/31/2027

3.0524.406
1,319.67 196,085.94 197,378.15
198,697.82
189,312.50190,632.17
91282CEW7UNITED STATES TREASURYUS GOV

1.181% Fixed N 3.100 AA+
Aaa
135,000.00 06/30/2027
06/30/2027

3.0594.382
735.27 136,181.25 135,810.58
136,545.85
130,301.37131,036.63
9128282R0UNITED STATES TREASURYUS GOV

3.281% Fixed N 3.270 AA+
Aaa
390,000.00 08/15/2027
08/15/2027

3.2994.372
361.61 371,429.30 376,736.65
377,098.26
363,675.00364,036.61
91282CAL5UNITED STATES TREASURYUS GOV

3.335% Fixed N 3.480 AA+
Aaa
425,000.00 09/30/2027
09/30/2027

3.9244.359
666.24 359,158.20 375,064.20
375,730.44
369,368.16370,034.40
91282CFM8UNITED STATES TREASURYUS GOV

1.637% Fixed N 3.241 AA+
Aaa
180,000.00 09/30/2027
09/30/2027

4.1684.370
3,103.89 179,690.63 179,744.62
182,848.51
178,544.53181,648.42
91282CFZ9UNITED STATES TREASURYUS GOV

4.789% Fixed N 3.418 AA+
Aaa
535,000.00 11/30/2027
11/30/2027

3.6024.358
5,211.13 541,415.82 540,086.48
545,297.62
526,118.17531,329.30
91282CBB6UNITED STATES TREASURYUS GOV

2.904% Fixed N 3.707 AA+
Aaa
370,000.00 12/31/2027
12/31/2027

4.2274.346
387.53 312,635.55 323,316.44
323,703.97
321,842.19322,229.72
91282CBS9UNITED STATES TREASURYUS GOV

2.008% Fixed N 3.881 AA+
Aaa
250,000.00 03/31/2028
03/31/2028

3.6734.323
1,306.35 223,007.81 227,232.75
228,539.10
221,513.67222,820.02
91282CHA2UNITED STATES TREASURYUS GOV

1.282% Fixed N 3.782 AA+
Aaa
145,000.00 04/30/2028
04/30/2028

4.2684.319
1,700.96 140,259.18 140,791.47
142,492.43
140,508.40142,209.36
91282CCE9UNITED STATES TREASURYUS GOV

0.598% Fixed N 4.044 AA+
Aaa
75,000.00 05/31/2028
05/31/2028

4.0774.313
235.66 65,619.14 66,808.38
67,044.04
66,161.1366,396.79
Security Type GASB 40 Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 19 3.A.3.a
Packet Pg. 91
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Summary
* Grouped by: Security Type. * Groups Sorted by: Security Type. * Filtered By: Description ≠ "Payable" and Description ≠ "Receivable". * Weighted by: Ending Market Value + Accrued, except Book Yield by Base Book Value + Accrued.

Identifier,Description,Security Type
% of MarketValue +Accrued
Coupon Type Callab
le
Duration S&P
Rating,Moody'sRating
Ending Current Units Ending
EffectiveMaturity,Final Maturity
Book
Yield,
Yield
Ending Accrued
Balance
Original Cost Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
91282CHE4UNITED STATES TREASURYUS GOV

1.018% Fixed N 3.855 AA+
Aaa
115,000.00 05/31/2028
05/31/2028

4.0354.313
1,047.88 112,906.64 113,174.35
114,222.23
111,949.80112,997.69
91282CCE9UNITED STATES TREASURYUS GOV

1.995% Fixed N 4.044 AA+
Aaa
250,000.00 05/31/2028
05/31/2028

4.2774.313
785.52 217,333.98 220,892.01
221,677.53
220,537.11221,322.63
91282CHK0UNITED STATES TREASURYUS GOV

1.121% Fixed N 3.911 AA+
Aaa
125,000.00 06/30/2028
06/30/2028

4.3084.307
837.91 123,330.08 123,493.57
124,331.49
123,491.21124,329.12
91282CCH2UNITED STATES TREASURYUS GOV

2.187% Fixed N 4.127 AA+
Aaa
275,000.00 06/30/2028
06/30/2028

4.3224.310
576.06 238,498.05 241,957.88
242,533.94
242,042.97242,619.03
91282CCV1UNITED STATES TREASURYUS GOV

1.178% Fixed N 4.299 AA+
Aaa
150,000.00 08/31/2028
08/31/2028

4.8404.301

4.59 125,929.69 127,719.34
127,723.93
130,699.22130,703.80
91282CCV1UNITED STATES TREASURYUS GOV

0.982% Fixed N 4.299 AA+
Aaa
125,000.00 08/31/2028
08/31/2028

4.6804.301

3.82 106,005.86 107,165.23
107,169.05
108,916.01108,919.84
91282CCY5UNITED STATES TREASURYUS GOV

1.586% Fixed N 4.341 AA+
Aaa
200,000.00 09/30/2028
09/30/2028

4.1704.295
1,045.08 174,773.44 175,870.35
176,915.43
174,898.44175,943.52
912810FF0UNITED STATES TREASURYUS GOV

2.378% Fixed N 4.096 AA+
Aaa
250,000.00 11/15/2028
11/15/2028

4.1274.300
3,858.17 262,421.88 261,896.68
265,754.86
260,009.77263,867.94
91282CDP3UNITED STATES TREASURYUS GOV

1.383% Fixed N 4.573 AA+
Aaa
175,000.00 12/31/2028
12/31/2028

3.8024.277
403.25 156,146.48 156,416.44
156,819.69
153,022.46153,425.71
---UNITED STATES TREASURYUS GOV

80.954% Fixed N 2.763 AA+
Aaa
9,585,000.00 02/02/2027
02/02/2027

2.7104.506
41,740.96 9,204,635.37 9,277,400.24
9,319,141.19
8,939,973.248,981,714.20
Identifier,Description,Security Type
% of MarketValue +Accrued
Coupon Type Callab
le
Duration S&P
Rating,Moody'sRating
Ending Current Units Ending
EffectiveMaturity,Final Maturity
Book
Yield,
Yield
Ending Accrued
Balance
Original Cost Ending Book Value,
Book Value + Accrued
Market Value,
Ending Market Value +
Accrued
---------
100.000% Fixed --- 2.509 AA
Aa1
11,732,908.08 10/28/2026
10/28/2026

2.6754.599
55,366.65 11,351,019.55 11,425,703.07
11,481,069.72
11,039,428.8511,094,795.50
Security Type GASB 40 Trade Date San Jacinto, City of (66779)As of 02/29/2024 Return to Table of Contents Dated: 03/05/2024 20 3.A.3.a
Packet Pg. 92
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Identifier,
Description,Security Type
Interest/
Dividend
Received
Transfers In/Out Purchases Purchased
Accrued
Income
Sales Disposed Accrued Maturities and
Redemptions
Paydowns Net Realized
Gain/Loss
Beginning Original
Cost,
Ending Original Cost
Beginning Market
Value,
Ending Market Value
31846V203FIRST AMER:GVT OBLG YMMFUND
892.94 0.00 16,774.39 0.00 -285,637.05 0.00 0.00 0.00 0.00 346,770.74 77,908.08
346,770.74
77,908.08
CCYUSDReceivableCASH

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 892.90
304.85
892.90304.85
3135G05X7FEDERAL NATIONAL MORTGAGEASSOCIATIONAGCY BOND
778.13 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 413,057.80 413,057.80
390,027.44388,833.86
912828ZW3UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 253,894.34 253,894.34
240,466.99239,958.98
912828ZT0UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 233,971.88 233,971.88
222,175.98221,827.15
912828ZT0UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 189,094.53 189,094.53
179,631.64179,349.61
91282CAT8UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 59,547.66
59,547.66
55,940.6355,710.94
91282CAZ4UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 204,375.39 204,375.39
191,066.41190,185.55
912828ZL7UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 154,461.13 154,461.13
147,207.62147,062.30
91282CBC4UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 153,395.51 153,395.51
144,113.67143,399.22
91282CBH3UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 122,236.33 122,236.33
115,878.91115,263.67
91282CBT7UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 299,566.41 299,566.41
279,152.34277,382.81
91282CCF6UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 219,028.91 219,028.91
203,680.47202,245.31
91282CBW0UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 235,688.48 235,688.48
218,063.48216,649.80
91282CCP4UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 332,579.10 332,579.10
307,755.08305,425.78
91282CCJ8UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 124,804.69 124,804.69
115,898.44115,014.65
91282CBQ3UNITED STATES TREASURYUS GOV
837.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 326,520.31 326,520.31
310,555.47308,854.30
91282CAB7UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 170,358.40 170,358.40
164,513.67164,103.52
91282CCZ2UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 409,050.59 409,050.59
382,334.96379,011.72
91282CEC1UNITED STATES TREASURYUS GOV
3,140.63 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 335,157.03 335,157.03
314,599.02311,235.94
437076CM2HOME DEPOT INCCORP

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 59,895.00
59,895.00
58,649.3758,455.33
Portfolio Activity Summary San Jacinto, City of (66779)02/01/2024 - 02/29/2024 Return to Table of Contents Dated: 03/05/2024 21 3.A.3.a
Packet Pg. 93
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Identifier,
Description,Security Type
Interest/
Dividend
Received
Transfers In/Out Purchases Purchased
Accrued
Income
Sales Disposed Accrued Maturities and
Redemptions
Paydowns Net Realized
Gain/Loss
Beginning Original
Cost,
Ending Original Cost
Beginning Market
Value,
Ending Market Value
023135CE4AMAZON.COM INCCORP

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 294,530.95 294,530.95
289,022.57288,236.75
91282CEF4UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 78,971.88
78,971.88
76,525.0075,643.75
91282CET4UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 196,085.94 196,085.94
191,664.06189,312.50
91282CEW7UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 136,181.25 136,181.25
131,983.59130,301.37
194162AM5COLGATE-PALMOLIVE COCORP
697.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 44,958.60 44,958.60
44,118.0043,872.57
9128282R0UNITED STATES TREASURYUS GOV
4,387.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 371,429.30 371,429.30
368,260.55363,675.00
91282CEN7UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 219,541.99 219,541.99
216,659.18214,092.77
91282CAL5UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 359,158.20 359,158.20
373,833.99369,368.16
91282CFZ9UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 541,415.82 541,415.82
533,725.20526,118.17
713448FQ6PEPSICO INCCORP
2,730.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 119,930.40 119,930.40
120,186.91119,288.75
194162AQ6COLGATE-PALMOLIVE COCORP

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 29,965.20
29,965.20
30,310.1730,072.00
13063D3N6CALIFORNIA STMUNI

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 120,000.00 120,000.00
121,498.80120,340.80
91282CFE6UNITED STATES TREASURYUS GOV
2,656.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 163,777.73 163,777.73
166,792.58165,982.42
91282CBB6UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 312,635.55 312,635.55
326,076.95321,842.19
912828U24UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 -103,554.69 -519.78 0.00 0.00 -1,324.02 103,541.80

0.00 104,151.95

0.00 91282CBS9UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 223,007.81 223,007.81
224,667.97221,513.67
20772KTJ8CONNECTICUT STMUNI

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 61,152.00
61,152.00
61,495.2060,716.40
91282CFW6UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 159,650.00 159,650.00
160,531.25159,387.50
91282CFM8UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 179,690.63 179,690.63
181,096.88178,544.53
91282CHH7UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 49,658.20
49,658.20
50,011.7249,535.16
91282CCE9UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 65,619.14
65,619.14
67,139.6566,161.13
Portfolio Activity Summary San Jacinto, City of (66779)02/01/2024 - 02/29/2024 Return to Table of Contents Dated: 03/05/2024 22 3.A.3.a
Packet Pg. 94
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Identifier,
Description,Security Type
Interest/
Dividend
Received
Transfers In/Out Purchases Purchased
Accrued
Income
Sales Disposed Accrued Maturities and
Redemptions
Paydowns Net Realized
Gain/Loss
Beginning Original
Cost,
Ending Original Cost
Beginning Market
Value,
Ending Market Value
91282CHE4UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 112,906.64 112,906.64
113,742.19111,949.80
91282CFW6UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 114,694.53 114,694.53
115,381.84114,559.77
91282CCE9UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 217,333.98 217,333.98
223,798.83220,537.11
91282CHA2UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 140,259.18 140,259.18
142,672.07140,508.40
69371RR40PACCAR FINANCIAL CORPCORP
250.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 99,946.00 99,946.00
97,491.3297,922.43
91282CHK0UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 123,330.08 123,330.08
125,502.93123,491.21
91282CCH2UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 238,498.05 238,498.05
245,727.54242,042.97
24422EXD6JOHN DEERE CAPITAL CORPCORP

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 64,953.85
64,953.85
66,142.5565,436.09
89236TJN6TOYOTA MOTOR CREDIT CORPCORP

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 279,868.40 279,868.40
272,356.00272,983.87
14913R2P1CATERPILLAR FINANCIAL SERVICESCORPCORP

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 179,755.20 179,755.20
174,938.92175,493.39
91282CCV1UNITED STATES TREASURYUS GOV
843.75 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 125,929.69 125,929.69
132,738.28130,699.22
91282CHH7UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 132,036.33 132,036.33
135,031.64133,744.92
91282CEQ0UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 120,419.92 120,419.92
122,265.63121,835.94
91282CCV1UNITED STATES TREASURYUS GOV
703.13 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 106,005.86 106,005.86
110,615.24108,916.01
91282CJC6UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 174,261.72 174,261.72
177,536.13175,574.22
437076CV2HOME DEPOT INCCORP

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 54,879.55
54,879.55
55,659.8455,030.11
912810FF0UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 262,421.88 262,421.88
264,648.44260,009.77
91282CCY5UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 174,773.44 174,773.44
177,648.44174,898.44
912828U24UNITED STATES TREASURYUS GOV

0.00 0.00 0.00 0.00 -70,605.47 -354.40 0.00 0.00 86.27 70,253.91

0.00 71,012.70

0.00 419792L95HAWAII STMUNI

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15,000.00
15,000.00
15,102.4514,965.35
419792M37HAWAII STMUNI

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 25,510.25
25,510.25
25,842.2525,476.25
Portfolio Activity Summary San Jacinto, City of (66779)02/01/2024 - 02/29/2024 Return to Table of Contents Dated: 03/05/2024 23 3.A.3.a
Packet Pg. 95
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) * Weighted by: Ending Market Value + Accrued. * Holdings Displayed by: Lot.

Identifier,Description,Security Type
Interest/
Dividend
Received
Transfers In/Out Purchases Purchased
Accrued
Income
Sales Disposed Accrued Maturities and
Redemptions
Paydowns Net Realized
Gain/Loss
Beginning Original
Cost,
Ending Original Cost
Beginning Market
Value,
Ending Market Value
419792L87HAWAII STMUNI

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15,000.00
15,000.00
15,064.0514,982.00
419792M29HAWAII STMUNI

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 10,168.30
10,168.30
10,267.6010,142.30
91282CJS1UNITED STATES TREASURYUS GOV

0.00 0.00 125,063.47 -481.63 0.00 0.00 0.00 0.00 0.00 0.00 125,063.47

0.00 124,023.44
91282CDP3UNITED STATES TREASURYUS GOV

0.00 0.00 156,146.48 -218.15 0.00 0.00 0.00 0.00 0.00 0.00 156,146.48

0.00 153,022.46
532457CJ5ELI LILLY AND COCORP

0.00 0.00 179,904.60 0.00 0.00 0.00 0.00 0.00 0.00 0.00 179,904.60

0.00 179,299.30
---------
17,917.33 0.00 477,888.94 -699.78 -459,797.21 -874.18 0.00 0.00 -1,237.75 11,333,456.27 11,351,324.40
11,120,314.2311,039,733.70
Portfolio Activity Summary San Jacinto, City of (66779)02/01/2024 - 02/29/2024 Return to Table of Contents Dated: 03/05/2024 24 3.A.3.a
Packet Pg. 96
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) Additional Disclosure:

This information is for the sole purposes of the client and is not intended to provide specific advice or recommendations. Please review the contents of this information carefully. Should you have any questions regarding theinformation presented, calculation methodology, investment portfolio, security detail, or any other facet of this information, please feel free to contact us.Public Trust Advisors, LLC (Public Trust) statements and reports are intended to detail our investment advisory activity as well as the activity of certain client accounts managed by Public Trust. The custodian bank maintainsthe control of assets and executes and settles all investment transactions. The custodian statement is the official record of security and cash holdings transactions. Public Trust recognizes that clients may use these reports tofacilitate record keeping; therefore, it is recommended that the client reconcile this information with their custodian bank statement. Many custodians use a settlement date basis that may result in the need to reconcile due to atiming difference. The underlying market value, amortized cost, and accrued interest may differ between the custodian and this statement or report. This can be attributed to differences in calculation methodologies and pricingsources used.Public Trust does not have the authority to withdraw funds from or deposit funds to the custodian. Our clients retain responsibility for their internal accounting policies, implementing and enforcing internal controls, andgenerating ledger entries or otherwise recording transactions. The total market value represents prices obtained from various sources; it may be impacted by the frequency at which prices are reported, and such prices are notguaranteed. Prices received from pricing vendors are generally based on current market quotes but when such quotes are not available, the pricing vendors use a variety of techniques to estimate value. These estimates,particularly for fixed-income securities, may be based on certain minimum principal amounts (e.g. $1 million) and may not reflect all the factors that affect the value of the security including liquidity risk. The prices provided arenot firm bids or offers. Certain securities may reflect N/A or unavailable where the price for such security is generally not available from a pricing source. The market value of a security, including those priced at par value, maydiffer from its purchase price and may not closely reflect the value at which the security may be sold or purchased based on various market factors. The securities in this investment portfolio, including shares of mutual funds,are not guaranteed or otherwise protected by Public Trust, the FDIC (except for certain non-negotiable certificates of deposit), or any government agency unless specifically stated otherwise.Clients may be permitted to establish one or more unmanaged accounts for the purposes of client reporting. Clients may also be permitted to provide externally managed assets for the purposes of client reporting. Public Trustdefines unmanaged accounts or assets as one where the investment direction remains the sole responsibility of the client rather than the Investment Manager. Unmanaged accounts or external assets do not receive ongoingsupervision and monitoring services. The Investment Manager does not make any investment recommendations and may not charge a fee for reporting on these accounts or assets. The primary purpose for this service is toinclude unmanaged accounts or assets owned by the client in the performance reports provided by the Investment Manager. The Investment Manager assumes no liability for the underlying performance of any unmanagedaccounts or assets, and it is the client’s sole responsibility for the accuracy or correctness of any such performance.Beginning and ending balances are based on market value plus accrued interest on a trade date basis. Statements and reports made available to the end user either from Public Trust or through the online reporting platformmay present information and portfolio analytics using various optional methods including, but not limited to, historical cost, amortized cost, and market value. All information is assumed to be correct, but the accuracy has notbeen confirmed and therefore is not guaranteed to be correct. Information is obtained from third party sources that may or may not be verified. The data in this report is unaudited and is only applicable for the date denoted onthe report. Market values may change day-to-day based on numerous circumstances such as trading volume, news released about the underlying issuer, issuer performance, etc. Underlying market values may be priced vianumerous aspects as certain securities are short term in nature and not readily traded. Performance results are shown net of all fees and expenses and reflect the reinvestment of dividends and other earnings.Many factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. Investment involves risk including the possible loss ofprincipal. No assurance can be given that the performance objectives of a given strategy will be achieved. Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses.The investment advisor providing these services is Public Trust Advisors, LLC, an investment adviser registered with the U.S. Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940, asamended. Registration with the SEC does not imply a certain level of skill or training. Public Trust is required to maintain a written disclosure brochure of our background and business experience. If you would like to receive acopy of our current disclosure brochure, Privacy Policy, or Code of Ethics, or have any questions regarding your account please contact us.Public Trust Advisors717 17th St. Suite 1850Denver, CO 80202

3.A.3.a
Packet Pg. 97
Attachment: 08. 2023-24 Feb Treasurers Report with signature (Treasurer’s Report at February 29, 2024) April 2, 2024
TO: City Council
REQUESTED BY: Craig Hayes,
APPROVED BY: Robert A. Johnson, City Manager
SUBJECT: Second Read of Ordinance No. 24-06
RECOMMENDATION:

Staff recommends that the City Council conduct a second reading of, by title only, and adopt Ordinance No. 24-06:

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN JACINTO, CALIFORNIA, ADDING CHAPTER 9.46 (UNLAWFUL POSSESSION OF A CATALYTIC CONVERTER PROHIBITED) TO TITLE 9 (PUBLIC PEACE, MORALS,

AND WELFARE) OF THE SAN JACINTO MUNICIPAL CODE, ESTABLISHING

REGULATIONS PROHIBITING THE UNLAWFUL POSSESSION OF CATALYTIC CONVERTERS IN THE CITY.

DISCUSSION:

Catalytic converters are an external component of a vehicle, accessible from the underside of a parked car. They convert most of a vehicle’s emissions into less harmful forms, improving air quality and vehicle performance. As part of their construction, catalytic converters contain valuable materials such as platinum and palladium, rare metals that command ever-increasing prices on the recyclables market.

Catalytic converter thefts are on the rise because individuals are incentivized to commit catalytic converter thefts for multiple reasons. These reasons include (1) the ease and undetectable nature of committing such thefts, potentially in a matter of seconds and through the use of common tools such as a reciprocating saw; (2) the ability to recycle catalytic converters at scrap metal yards for high dollar returns ranging from $200 to $1,200 per catalytic converter; and (3) loopholes in legislation protecting criminals from prosecution unless a victim can be identified.

There is currently no City of San Jacinto (“City”) legislation applicable within the City of San Jacinto to directly define and punish catalytic converter thefts absent an identifiable victim.

Additionally, there is currently no City, State, or Federal legislation applicable within the City of San Jacinto requiring individuals to provide proof to law enforcement as to how they obtained catalytic converters in their possession. This limits law enforcement’s ability to (1) protect the public by preventing catalytic converter thefts and (2) seize suspected stolen catalytic converters when there is no identifiable victim present. As a result, preventing and punishing these crimes at present is nearly impossible due to the ease and speed with which catalytic converter thefts can be committed and the difficulty of tracing a particular catalytic converter back to its prior owner (the victim), because catalytic converters typically have no identifying markers.

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The Legislature has enacted, and the Governor has signed into law, Senate Bill (SB) 1087 and Assembly Bill (AB) 1740, which generally prohibit (1) individuals from purchasing a used catalytic converter from anyone other than certain specified sellers, including automobile dismantlers, automotive repair dealers, or an individual possessing documentation, as specified, that they are the lawful owner of the catalytic converter; and (2) requires core recyclers to keep a detailed written record, including the year, make, and model of the car from which a catalytic converter was removed, as well as a copy of the vehicle’s title, prior to purchasing a catalytic converter from a seller.

The Legislature has not expressed its intent, whether explicitly or impliedly, to occupy the field of catalytic converter theft legislation. Pursuant to Article XI, Section 7 of the California Constitution, the City has broad discretionary power to make and enforce within its limits all local, police, sanitary, and other ordinances and regulations not in conflict with general laws.

Individuals in possession of stolen catalytic converters are able to recycle them for substantial profit at relatively low risk, while victims are forced to commit to costly repairs. By criminalizing the mere possession of an unattached catalytic converter absent proof of ownership or lawful possession, this ordinance would combat this criminal practice by: (1) achieving deterrence by establishing zero-tolerance for catalytic converter thefts; (2) establishing sanctions for possessing stolen catalytic converters; (3) prohibiting the falsification of information in documents and records used to verify ownership or lawful possession of a catalytic converter; (4) preventing criminals from profiting from the sale and recycling of stolen catalytic converters; (5) providing indirect justice to the victims of catalytic converter theft cases that have gone or will go unsolved for the reasons discussed above; and (6) minimizing the fiscal and personnel impact on the City of San Jacinto and the Riverside County Sheriff’s Department by reducing the time invested in deterring and investigating catalytic converter thefts.

By implementing the attached Ordinance, the City will prohibit the unlawful possession of catalytic converters in the City, discouraging this increasingly-common criminal activity. The City will further prohibit the falsification of information in documents and records used to verify ownership or lawful possession of a catalytic converter.

FISCAL IMPACT:

None.

ATTACHMENTS:

Ordinance No. 24-06 - Catalytic Converter Theft

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Ordinance No. 24-06

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ORDINANCE NO. 24-06

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss

CITY OF SAN JACINTO )

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY

OF SAN JACINTO, CALIFORNIA, ADDING CHAPTER

9.46 (UNLAWFUL POSSESSION OF A CATALYTIC
CONVERTER PROHIBITED) TO TITLE 9 (PUBLIC

PEACE, MORALS AND WELFARE) OF THE SAN

JACINTO MUNICIPAL CODE, ESTABLISHING

REGULATIONS PROHIBITING THE UNLAWFUL

POSSESSION OF CATALYTIC CONVERTERS IN THE
CITY.

WHEREAS, the citizens of the City of San Jacinto (the “City”) have experienced rising catalytic converter thefts from automobiles over the past several years; and WHEREAS, there is currently no City legislation applicable within the City of San Jacinto to define and punish catalytic converter thefts absent an identifiable victim; and WHEREAS, there is currently no City, State, or Federal legislation applicable within the City of San Jacinto requiring individuals discovered to be in possession of detached catalytic converters to provide proof to law enforcement as to how they obtained catalytic converters, thus limiting law enforcement’s ability to (1) protect the public by preventing catalytic converter thefts; and (2) seize suspected stolen catalytic converters when no victim is present; and
WHEREAS, the Legislature has enacted, and the Governor has signed into law, Senate Bill (SB) 1087 and Assembly Bill (AB) 1740, which generally prohibit (1) individuals from purchasing a used catalytic converter from anyone other than certain specified sellers, including automobile dismantlers, automotive repair dealers, or an individual possessing documentation, as specified, that they are the lawful owner of the catalytic converter; and (2) requires core recyclers to keep a detailed written record, including the year, make, and model of the car form which a catalytic converter was removed, as well as a copy of the vehicle’s title, prior to purchasing a catalytic converter from a seller; and
WHEREAS, the Legislature has not expressed its intent, whether explicitly or impliedly, to occupy the field of catalytic converter theft legislation; and WHEREAS, pursuant to Article XI, Section 7 of the California Constitution, the City has broad discretionary power to make and enforce within its limits all local, police, sanitary, and other ordinances and regulations not in conflict with general laws; and

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WHEREAS, catalytic converter thefts are on the rise because individuals are incentivized to commit catalytic converter thefts for multiple reasons including, but not limited to: (1) the ease and undetectable nature of committing such thefts, potentially in a matter of seconds and through the use of common tools such as a reciprocating saw; (2) the ability to recycle catalytic converters at scrap metal yards for high dollar returns ranging from $200 to $1,200 per catalytic converter; and (3) loopholes in legislation protecting criminals from prosecution unless a victim can be identified; and WHEREAS, preventing these crimes at present is nearly impossible due to the ease and speed with which catalytic converter thefts can be committed and the difficulty of tracing a particular catalytic converter back to its prior owner (the victim), because catalytic converters typically have no identifying markers; and WHEREAS, the citizens of San Jacinto and the Riverside County Sheriff’s Department are in need of legislation criminalizing mere possession of catalytic converters absent proof of ownership or lawful possession, for multiple reasons including, but not limited to, the following: (1) achieving deterrence by establishing zero-tolerance for catalytic converter thefts; (2) establishing sanctions for possessing stolen catalytic converters; (3) preventing criminals from profiting from the sale and recycling of stolen catalytic converters; (4) providing indirect justice to the victims of catalytic converter theft cases that have gone or will go unsolved for the reasons discussed above; and (5) minimizing the fiscal and personnel impact on the City of San Jacinto and the Riverside County Sheriff’s Department by reducing the time invested in deterring and investigating catalytic converter thefts; and
WHEREAS, individuals who are in possession of stolen catalytic converters recycle them for substantial profit while victims of these thefts suffer tremendous consequences in the form of costly repairs, inconvenience, and feelings of a lack of safety in the community; and
WHEREAS, the City desires to regulate the possession of detached catalytic converters within its jurisdiction in order to better protect its citizens, their property, and their community; and
WHEREAS, regulating possession of detached catalytic converters neither contradicts nor duplicates the statutes adopted by the Legislature on the topic of catalytic converters; and
WHEREAS, this Ordinance is necessary to provide the City and the Riverside County Sheriff’s Department clear legal authority to better protect the public and deter this criminal activity; and
WHEREAS, all other legal prerequisites to the adoption of this Ordinance have occurred.

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Packet Pg. 101 Attachment: Ordinance No. 24-06 - Catalytic Converter Theft (Second Read of Ordinance No. 24-06) Ordinance No. 24-06

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NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF SAN JACINTO DOES ORDAIN AS FOLLOWS:

SECTION 1. Incorporation of Recitals. The Recitals set forth above are incorporated herein and made an operative part of this Ordinance.

SECTION 2. Creation of Chapter 9.46 in Title 9 of the San Jacinto Municipal Code.

Chapter 9.46 is hereby added to Title 9 (Public Peace, Morals and Welfare) of the San Jacinto Municipal Code to read in its entirety as follows:
“Chapter 9.46

UNLAWFUL POSSESSION OF A CATALYTIC

CONVERTER

9.46.010 Purpose.

The purpose of this chapter is to regulate the possession of detached catalytic converters absent proof of ownership or lawful possession, to assist in deterring future thefts, establish sanctions for possessing stolen catalytic converters, and minimize the fiscal and personnel impact on the City of San Jacinto and the Riverside County Sheriff’s Department by reducing the time invested in deterring and investigating catalytic converter thefts.

9.46.020 Definitions.

For the purposes of this chapter, the following meanings shall apply:

A. “Lawful possession” includes (1) being the lawful owner of the catalytic converter or (2) in possession of the catalytic converter with the lawful owner’s written consent. It is not required to prove the catalytic converter was stolen to establish the possession is not a “lawful possession.”
B. “Documentation or other proof” means written document(s) that clearly identify the vehicle from which the catalytic converter originated based on the totality of the circumstances, and includes, but is not limited to, the following types of documents:
(1) Bill of sale from the original owner with the signature of the vehicle owner authorizing removal of the catalytic converter, as well as the name, address, and telephone number of the vehicle owner. (2) Documentation from an auto-body shop or similar business proving that the owner relinquished the catalytic converter to the auto-body shop or similar business.
(3) Verifiable electronic communication from the previous owner to the possessor relinquishing ownership of the catalytic converter. (4) Photographs of the vehicle from which the catalytic converter originated clearly showing the license plate number and vehicle

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identification number (VIN) of the car from which the catalytic converter was removed.

9.46.030 Unlawful possession of a catalytic converter prohibited.

A. It shall be unlawful to possess any catalytic converter that is not attached to a vehicle, unless the possessor has valid documentation or other proof to verify that they are in lawful possession of the catalytic converter.

B. It is unlawful for any person to falsify or cause to be falsified any information in any documentation or other proof intended to show valid proof of ownership or possession of a catalytic converter.

9.46.040 Violations – Misdemeanor
A. Each and every violation of this section shall constitute a separate violation and shall be subject to all remedies and enforcement measures authorized by the San Jacinto Municipal Code. Each and every catalytic converter unlawfully possessed is a separate violation of this section.

B. It is unlawful and a misdemeanor subject to punishment in accordance with Chapter 1.24 of Title 1 of this Code, for any person to violate any provision of this section.

C. The remedies provided herein are not to be construed as exclusive remedies. The city is authorized to pursue any proceedings or remedies provided by law.” SECTION 3. CEQA. The City Council finds that adoption of this Ordinance is exempt from the California Environmental Quality Act (“CEQA”) pursuant to Section 15358 (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) of the CEQA Guidelines, California Code of Regulations, Title 14, Chapter 3, because it has no potential for resulting in physical change to the environment, directly or indirectly. Moreover, the City Council finds that this Ordinance is also exempt under CEQA pursuant to Guidelines Section 15061(b)(3) (there exists no possibility that the activity will have a significant adverse effect on the environment).

SECTION 4. Severability. If any section, subsection, subdivision, sentence, clause, phrase, or portion of this Ordinance for any reason is held to be invalid or unconstitutional by the decision of any court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this Ordinance. The City Council hereby declares that it would have adopted this Ordinance, and each section, subsection, subdivision, sentence, clause, phrase, or portion thereof, irrespective of the fact that any one or more sections, subsections, subdivisions, sentences, clauses, phrases, or portions thereof be declared invalid or unconstitutional.

SECTION 5. Publication. The Mayor shall sign this Ordinance and the City Clerk shall cause the same to be published within fifteen (15) days after its passage at least once, in a newspaper of general circulation, published and circulated in the City of San Jacinto, California.

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SECTION 6. Effective Date. This Ordinance takes effect thirty (30) days from and after the date of its passage.

PASSED, APPROVED and ADOPTED at a regular meeting of the City Council on the 2nd day of April, 2024, by the following vote:

AYES:

NAYS:

ABSENT:

ABSTAIN:

CITY OF SAN JACINTO:
________________________________
Phil Ayala, Mayor
City of San Jacinto
ATTEST:
__________________________________
Julia Espinoza, City Clerk
APPROVED AS TO FORM:

BEST BEST & KRIEGER, LLP
__________________________________
Craig Hayes, City Attorney

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Ordinance No. 24-06

CERTIFICATION

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss

CITY OF SAN JACINTO )
I, Julia Espinoza, City Clerk of the City of San Jacinto, DO HEREBY CERTIFY that the foregoing Ordinance No. 24-06 was passed, approved, and adopted at the Regular Meeting of the San Jacinto City Council held on the 2nd day of April, 2024, by the following vote:

AYES:

NAYS:

ABSENT:

ABSTAIN:

WITNESS MY HAND AND OFFICIAL SEAL this 2nd day of April 2024. ________________________________
Julia Espinoza, City Clerk
City of San Jacinto

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Packet Pg. 105 Attachment: Ordinance No. 24-06 - Catalytic Converter Theft (Second Read of Ordinance No. 24-06) April 2, 2024
TO: City Council
REQUESTED BY: Stuart McKibbin, City Engineer
APPROVED BY: Robert A. Johnson, City Manager
SUBJECT: ARPA Agreement with Riverside County
RECOMMENDATION:

Staff recommends that the City Council:

1. APPROVE the Funding Agreement for City of San Jacinto Infrastructure project,

2. APPROPRIATE $2,000,000 from the General Fund for the State Street Rehab (Idyllwild to 9th Street) Project (CIP #24-001),

3. APPROPRIATE $292,000 from the Road Maintenance and Rehabilitation Fund for CIP #24-001; and

3. AUTHORIZE the City Manager to execute the Agreement.

DISCUSSION:

Some months ago, the City Manager was contacted by Riverside County Chief Operating Officer Juan Perez to discuss a potential allocation of County American Rescue Plan Act (ARPA) funds for the City of San Jacinto.

The Fifth District Supervisor, Yxstian Gutierrez, had identified funds to be allocated directly to the City of San Jacinto, if the City had shovel ready infrastructure projects, and would be able to spend the funds and deliver the projects by the deadline of December 31, 2026.

The City Manager shared two State Street Rehabilitation projects that the City Engineer is currently designing, and both were approved for allocations of one million dollars ($1,000,000) each. The Agreement for the funding was approved by the City Council on Dec 19, 2023.

However, the Agreement was never approved by the Riverside County Board of Supervisors.

Subsequent to the City Council’s approval, the County informed the City that the construction timing of the State Street widening project from the northern City limits to Community College Drive would not meet the program requirements for reimbursement. The County required that construction be started by June 2024, which simply isn’t feasible. However, at the request of the City Manager, the County agreed to transfer the project’s $1 million allocation to the other State Street project, the State Street Rehab (Idyllwild to 9th Street) Project, CIP #24-001. A revised draft agreement was developed accordingly and is before you today.

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The State Street Rehab Project is currently under design with the intent of bidding out for construction in Spring 2024. The project would consist of full-width resurfacing of most of State Street, including four lanes, turn lanes and median asphalt, by removing and replacing old asphalt with new asphalt. The project is roughly 1.5 miles in length. The Engineer’s project cost estimate is $3,092,000. Approval of the Funding Agreement requires a match of $1,092,000 of non-federal funds. City Council previously appropriated $800,000 from the Road Maintenance and Rehabilitation Account (RMRA) for this project. Accordingly, an additional $292,000 must be appropriated to meet the matching requirement of the Agreement.

Staff recommends that the City Council Approve the agreement, appropriate $2,000,000 from the General Fund for State Street Rehab (Idyllwild to 9th Street) Project, appropriate $292,000 from RMRA for the project, and Authorize the City Manager to execute the Agreement.

FISCAL IMPACT:

Approval of this item will have no net fiscal impact on the General Fund. Although $2,000,000 will be appropriated from the General Fund, it will be reimbursed according to the terms of the Agreement. An additional $292,000 will be appropriated for this project from the Road Maintenance and Rehabilitation Account to meet matching requirements.

ATTACHMENTS:

San Jacinto ARPA Infrastructure Funding Agreement

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Packet Pg. 107
1 FUNDING AGREEMENT FOR

CITY OF SAN JACINTO INFRASTRUCTURE PROJECT
This Funding Agreement (“Agreement”) is entered into by and between the County of Riverside, a political subdivision of the State of California, (“County”) and City of San Jacinto, (“Subrecipient”).

County and Subrecipient are sometimes individually referred to as “Party” and collectively as “Parties.”

RECITALS
WHEREAS, on March 11, 2021, the American Rescue Plan Act (ARPA) was signed into law, amending Section 9901 of Title VI of the Social Security Act which establishes the Coronavirus State and Local Fiscal Recovery Funds (Fiscal Recovery Funds) to provide state, local and Tribal governments with the resources needed to respond to the pandemic and its economic effects and to build a stronger, more equitable economy during the recovery; and WHEREAS, to respond to the negative effects of the pandemic, which in turn affect our community as a whole, on October 4, 2022, by Minute Order 3.44, the Board of Supervisors of the County of Riverside approved the distribution framework of the second allocation of ARPA funds, to support eligible ARPA efforts within Riverside County including but not limited to: infrastructure (water, sewer, broadband), housing and homelessness, business revitalization, neighborhood revitalization, childcare facilities, and non-profits; and
WHEREAS, on January 6, 2022, the U.S. Department of the Treasury (U.S. Treasury) adopted a final rule implementing the Fiscal Recovery Funds which took effect on April 1, 2022 (Final Rule); and
WHEREAS, the County desires to reimburse and the Subrecipient desires to accept ARPA Fiscal Recovery Funds in a total amount not to exceed $2,000,000, for expenditures identified in Attachment A related to the State Street Rehab (Idyllwild to 9th Street) Project (“Infrastructure Project”); and
NOW THEREFORE, in consideration of the mutual benefits, covenants, terms and conditions contained herein, the Parties agree as follows:

AGREEMENT

1. Incorporation of Recitals. The Recitals set forth above are incorporated herein and made an operative part of this Agreement.

2. Contract Documents. This Agreement consists of this Agreement and the following attachments, attached hereto and by this reference incorporated herein:

2.1 Attachment A – Infrastructure Project Scope

2.2 Attachment B – U.S. Treasury ARPA Fiscal Recovery Funds Final Rule

2.3 Attachment C – Uniform Administrative Requirements, Cost Principles, Federal Provisions and Audit Requirements for Federal Awards -2 CFR Part 200 et seq

2.4 Attachment D – Indemnification and Insurance Requirements

2.5 Attachment E – Project Monitoring Requirements

2.6 Attachment F – Construction Requirements

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Packet Pg. 108 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 2 3. Infrastructure Project; Scope of Work. Subrecipient shall be responsible for completion of all activities associated with design, implementation, installation and construction of the Infrastructure Project, as described in Attachment A, on or before December 31, 2026, by first using funds received from the County in the amount provided in Section 4 of this Agreement. The Subrecipient shall also furnish timely reporting and documentation assuring Subrecipient’s compliance with the U.S. Treasury ARPA Guidelines (as stated in the Final Rule of the U.S. Department of the Treasury published in the Federal Register on January 27, 2022), and within the timelines and specifications provided in Attachment E. Under the provisions of the Agreement, the County shall bear no responsibility for the Infrastructure Project, including without limitation any activities associated with implementation, installation and construction, or any future operation or maintenance of the Infrastructure Project.

3.1 Project Signage. Subrecipient shall include appropriate acknowledgement of credit to the County for its support when promoting the Infrastructure Project or using any data and/or information developed under this Agreement. Signage shall be posted in a prominent location at Infrastructure Project site(s) and shall include the U.S. Department of Treasury’s, and the County’s color logos, along with the following disclosure statement: “Funding for this project has been provided in full or in part from the American Rescue Plan Act, and through an agreement with the County of Riverside.” The Subrecipient shall also include in each of its contracts for work under this Agreement a provision that incorporates the requirements stated within this Paragraph.

4. Funding.

4.1 County shall provide funding to Subrecipient in a total amount not to exceed $2,000,000 (“Award”), in quarterly payments in accordance with progress pay estimates submittals, and in compliance with ARPA Guidelines as set forth in Attachment B, attached hereto and by this reference incorporated herein, for the completion of the Infrastructure Project. In the event that there is a conflict in the terms for payment in this Agreement and the terms in Attachments B and C, the terms in Attachments B and C shall take precedence. Subrecipient shall provide other non-federal funding at least equal to the amounts shown in Attachment A, attached hereto and by this reference incorporated herein, as a match to the funds provided by the County for the Infrastructure Project.

4.2 Except as expressly provided in Attachment A of this Agreement, Subrecipient shall not be entitled to, nor receive from County any additional funding or other type of remuneration for services rendered under this Agreement. The Award amounts described in this Section are specifically for the Infrastructure Project and make up the entire amount which the County has approved to fund for the Infrastructure Project. Subrecipient shall not be entitled by virtue of this Agreement to consideration in excess of specified per-project Award amounts, and Subrecipient shall be responsible for any and all costs incurred above any Award amount for its implementation and completion of the specified Infrastructure Project. Any subsequent amendments to Infrastructure Project scope or description are not covered by this Agreement, and the funding for any such amendment or for any Infrastructure Project cost overruns shall be the sole responsibility of Subrecipient, unless otherwise approved in writing by the County.

4.3 Should it be determined at any time by the Subrecipient or the County that the Subrecipient cannot, will not or is unable to complete the Infrastructure Project subject to this Agreement in accordance with the applicable State and Federal requirements and the provisions of this Agreement on or before December 31, 2026, then the subrecipient shall return 100% of the Award amount reimbursed to Subrecipient for the uncompleted Infrastructure Project as of the date of notification to the County, within thirty (30) days of notification.

4.4 In the event the actual cost for the Infrastructure Project is less than Award, Subrecipient shall refund the difference to County within thirty (30) days of filing the Notice of Completion for the Infrastructure Project, or by June 30, 2026, whichever occurs first. Subrecipient shall return any

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Packet Pg. 109 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 3 reimbursed Award Funds that have not been expended or are not adequately supported by invoices and documentation to the County, within thirty (30) days of completion of construction of the Infrastructure Project, or upon request by the County, whichever occurs first.

5. Invoicing and Billing

5.1 Invoices.

5.1.1 Invoices shall be submitted via e-mail to [email protected]. The final invoice from the Subrecipient will be submitted with enough time for the County to reimburse the Subrecipient prior to December 31, 2026, per the final rule of ARPA.

5.1.2 Supporting documentation shall accompany each invoice: copies of paid receipts and invoices of all Subrecipient Infrastructure Project costs incurred by Subrecipient.

5.1.3 To ensure compliance with Federal and State regulations, County may require additional supporting documentation or clarification of claimed expenses as follows:

5.1.3.1 County Executive Office staff shall notify Subrecipient to obtain necessary additional documentation or clarification.

5.1.3.2 Subrecipient shall respond within three (3) business days with required additional documentation or clarification to avoid disallowances/partial payment of invoice.

5.1.3.3 All invoices containing expenses that need additional documentation or clarification not provided to County within three (3) business days of request shall have those expenses disallowed and only the allowed expenses shall be paid.

5.1.3.4 Subrecipient may resubmit disallowed expenses as a supplemental invoice only and must be accompanied by required documentation.

5.2 Payments

5.2.1 If the conditions set forth in this Agreement are met, County shall pay, on/or before the thirtieth (30th) day after receipt of a complete and accurate invoice, the sum of money claimed by the approved invoice, (less any credit due County for adjustments of prior invoices). If the conditions are not met, County shall pay when the necessary processing is completed and/or proper backup documentation is provided.

5.2.2 County shall not pay for unauthorized costs incurred by Subrecipient or for the claimed work which County monitoring shows have not been provided as authorized.

5.2.3 County retains the right to withhold payment on disputed claims.

6. Term. The Term of this Agreement shall be from the date of approval of this Agreement until filing of notice of completion for Infrastructure Project, or on December 31, 2026, whichever is sooner, unless sooner terminated as provided herein.

7. Subrecipient Compliance Obligations. The Subrecipient agrees to comply with the terms and conditions of this Agreement. The Subrecipient also agrees to apply the terms and conditions of this Agreement to all of its subcontractors (if applicable) and to require their strict compliance therewith.

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Packet Pg. 110 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4 If it is determined that the Subrecipient is noncompliant, County may temporarily withhold or disallow reimbursement of costs, under 2 C.F.R. Part 200, as supplemented by 2 C.F.R. Part 910.

7.1 Federal Provisions. Subrecipient and all of its subcontractors shall comply with the Uniform Administrative Requirements, Cost Principles, Federal Provisions and Audit Requirements for Federal Awards Provisions contained in Attachment C

8. Contract Representatives.

8.1 County Representative. The County Executive Officer, or designee, shall be the designated representative who shall administer this Agreement on behalf of the County.

8.2 Subrecipient Representative. The City Manager, or designee, shall be the designated representative who shall administer this Agreement on behalf of the Subrecipient.

8.3 The Contract Representatives may be contacted as described in Section 11, below.

9. Records and Audit.

9.1 Subrecipient shall store and maintain all writings, documents and records prepared or compiled in connection with the performance of this Agreement for a minimum of five (5) years from the termination or completion of this Agreement. This includes any handwriting, typewriting, printing, photostatic, photographing and every other means of recording upon any tangible thing, any form of communication or representation including letters, words, pictures, sounds or symbols or any combination thereof. Any authorized representative of County shall have access to any writings as defined above for the purposes of making a report, audit, evaluation, or examination Further, County has the right at all reasonable times to audit, inspect or otherwise evaluate the work performed or being performed under this Agreement.

9.2 If it is determined pursuant to an audit that any funds provided pursuant to this Agreement have been improperly expended, Subrecipient shall, at the direction of the agency performing the audit, reimburse the County within thirty (30) days the full amount of such improperly expended funds. The funds shall be reimbursed in accordance with the recommendations in the audit.

10. Monitoring of Contract Compliance and Infrastructure Progress Reports.

10.1 Contract Compliance. The Subrecipient shall comply with the monitoring arrangements set forth in Project Monitoring Requirements, and Construction Requirements, attached as Attachments E and F, respectively.

10.2 Infrastructure Project Progress Reports and Progress Pay Estimates. Subrecipient shall, as specified herein, provide quarterly reports detailing Infrastructure Project’s progress, including a financial status report and milestone progress report as described in Attachment E.

11. Notices. As used in this Agreement, notice includes but is not limited to the communications of any notice, request, demand, approval, statement, report, acceptance, consent, waiver, and appointment. All notices must be in writing. All such notices from one party to another may be delivered in person, sent via reputable overnight courier, or served by first-class mail, certified or registered, postage prepaid, to each and all of the addresses set forth below.

If to County: If to Subrecipient:

Riverside County Executive Office City of San Jacinto
Attention: Stephanie Persi and Scott Bruckner Attention: Rob Johnson 4080 Lemon Street, 4th Floor, 595 S. San Jacinto Ave
Riverside, CA. 92501 San Jacinto, CA 92583

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Packet Pg. 111 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 5 12. Conflicts of Interest. Subrecipient covenants that it presently has no interest, including but not limited to, other projects or independent contracts, and shall not acquire any such interest, direct or indirect, which would conflict in any manner or degree with the performance of services required under this Agreement. Subrecipient further covenants that in the performance of this Agreement, no person having any such interest shall be employed or retained by it under this Agreement. In the event federal funds are used, in whole or in part, for any Infrastructure Project, Subrecipient understands and agrees it must maintain a conflict of interest policy consistent with 2. C.F.R. section 200.318 (c) and that such conflict of interest policy is applicable to each activity funded under this award. Subrecipient must disclose in writing to the U.S. Treasury or through County, as appropriate, any potential conflict of interest affecting the awarded funds in accordance with 2. C.F.R. section 200.12.

13. Nondiscrimination. During any period in which Subrecipient is in receipt of funds from County, Subrecipient and its Board, officers, employees, agents, representatives or subcontractors shall not unlawfully discriminate in violation of any Federal, State or local law, rule or regulation against any employee, applicant for employment or person receiving services under this Agreement because of race, religious creed, color, national origin, ancestry, physical or mental disability including perception of disability, medical condition, genetic information, pregnancy related condition, marital status, gender/sex, sexual orientation, gender identity, gender expression, age (over 40), political affiliation or belief, or military and veteran status. Subrecipient and its officers, employees, agents, representatives or subcontractors shall comply with all applicable Federal, State and local laws and regulations related to non- discrimination and equal opportunity, including without limitation the County’s nondiscrimination policy; Title VI of the Civil Rights Act of 1964 (42 US.C. sections 2000d et seq.) and U.S. Treasury’s implementing regulations at 31 C.F.R. Part 22, which prohibit discrimination on the basis of race, color, or national origin under programs or activities receiving federal financial assistance; The Fair Housing Act, Title VIII of the Civil Rights Act of 1968 (42 U.S.C. sections 3601 et seq.), which prohibits discrimination in housing on the basis of race, color, religion, national origin, sex, familial status, or disability; Section 504 of the Rehabilitation Act of 1973, as amended (42 U.S.C. sections 6101 et seq.), and the U.S. Treasury’s implementing regulations at 31 C.F.R. part 23, which prohibit discrimination on the basis of age in programs or activities receiving federal financial assistance; and Title II of the Americans with Disabilities Act of 1990, as amended (42 U.S.C. sections 12101 et seq.)which prohibits discrimination on the basis of disability under programs, activities, and services provided or made available by state and local governments or instrumentalities or agencies thereto; The Fair Employment and Housing Act (Government Code sections 12900 et seq.); California Labor Code sections 1101, and 1102; the Federal Civil Rights Act of 1964 (P.L. 88-352), as amended; and all applicable regulations promulgated in the California Code of Regulations or the Code of Federal Regulations, and Riverside County’s non-discrimination policy.

Subrecipient shall include the non-discrimination and compliance provisions of this Section in all subcontracts to perform work under or as a derivative of this Agreement.

14. Indemnification. The Subrecipient shall be bound by the indemnification, hold harmless and defend provisions contained in Attachment D.

15. Insurance. Subrecipient shall obtain, and maintain, or caused to be obtained and maintained, at all times during the Term of this Agreement, insurance coverage in the amounts and coverage specified in Attachment D.

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Packet Pg. 112 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 6 16. Termination. The County may terminate this agreement upon a determination that Subrecipient is not complying with ARPA terms and conditions. The County may withhold additional planned distributions of funding to Subrecipient pending receipt of requisite reporting requirements by Subrecipient to the County as described herein.

17. Compliance with Laws. The Subrecipient is required to comply with all applicable federal, state and local laws and regulations for all work performed or funded by and through this Agreement. The Subrecipient is required to obtain all necessary federal, state and local permits, authorizations and approvals for all work performed under this Agreement.

18. Disputes. The parties shall attempt to resolve any disputes amicably at the working level. If that is not successful, the dispute shall be referred to the senior management of the parties. The Subrecipient shall proceed diligently with the Infrastructure Project described in this Agreement pending the resolution of a dispute. The Parties reserve the right to pursue any remedies at law or in equity should any dispute relating to this Agreement not by resolved by the Parties. Notwithstanding the foregoing, prior to the filing of any legal action related to this Agreement, the Parties shall be obligated to attend a mediation session in Riverside County before a neutral third party mediator. A second mediation session shall be required if the first session is not successful. The parties shall share the cost of the mediations.

19. Status of Subrecipient. The Subrecipient is, for purposes relating to this Agreement, an independent contractor and shall not be deemed an employee of the County. It is expressly understood and agreed that the Subrecipient (including its employees, agents, and subcontractors) shall in no event be entitled to any benefits to which County employees are entitled, including but not limited to overtime, any retirement benefits, worker's compensation benefits, and injury leave or other leave benefits. There shall be no employer-employee relationship between the parties nor is there a joint venture; and Subrecipient shall indemnify and hold County harmless from any and all claims that may be made against County based upon any contention by a third party that an employer-employee relationship exists by reason of this Agreement.

19.1 All acts of Subrecipient and its officers, employees, agents, representatives, subcontractors, and all others acting on behalf of Subrecipient relating to the performance of this Agreement, shall be performed as independent contractors and not as agents, officers, or employees of County. Subrecipient, by virtue of this Agreement, has no authority to bind or incur any obligation on behalf of County. No agent, officer or employee of the County is to be considered an employee of Subrecipient. At all times during the term of this Agreement, the Subrecipient and its officers, employees, agents, representatives, or subcontractors are, and shall represent and conduct themselves as, independent contractors and not employees of County.

19.2 Subrecipient shall determine the method, details, and means of performing the work and services to be provided by Subrecipient under this Agreement. Subrecipient shall be responsible to County only for the requirements and results specified in this Agreement and, except as expressly provided in this Agreement, shall not be subjected to County's control with respect to the physical action or activities of Subrecipient in fulfillment of this Agreement. Subrecipient has control over the manner and means for completion of the Infrastructure Project described in this Agreement. If necessary, Subrecipient has the responsibility for employing or engaging other persons or firms to assist Subrecipient in fulfilling the terms and obligations under this Agreement.

19.3 If in the performance of this Agreement any third persons are employed by Subrecipient, such persons shall be entirely and exclusively under the direction, supervision, and control of

3.A.5.a
Packet Pg. 113 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 7 Subrecipient. All terms of employment including hours, wages, working conditions, discipline, hiring and discharging or any other term of employment or requirements of law shall be determined by the Subrecipient. It is further understood and agreed that Subrecipient must issue W-2 forms or other forms as required by law for income and employment tax purposes for all Subrecipient’s assigned personnel under the terms and conditions of this Agreement.

20. Entire Agreement. This Agreement is the result of negotiations between the Parties. This Agreement is intended by the Parties as a full and final expression of their understanding with respect to the matters contained in this Agreement and shall not be modified in any manner except by an instrument in writing executed by the Parties or their respective successors in interest.

21. Amendment; Modification. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing and signed by both Parties.

22. Governing Law and Venue. The interpretation and performance of this Agreement shall be governed by the laws of the State of California. Venue shall be in Riverside County, California.

23. Construction/Interpretation. Headings or captions to the provisions of this Agreement are solely for the convenience of the Parties, are not part of this Agreement, and shall not be used to interpret or determine the validity of this Agreement. Any ambiguity in this Agreement shall not be construed against the drafter, but rather the terms and provisions hereof shall be given a reasonable interpretation as if both parties had in fact drafted this Agreement.

24. No Waiver. Failure of the Parties to insist upon strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such term, covenant or condition, nor shall any waiver or relinquishment of any rights or powers hereunder at any one time or more times be deemed a waiver or relinquishment of such other right or power at any other time or times.

25. No Third-Party Beneficiaries. There are no intended third-party beneficiaries of any right or obligation assumed by the Parties.

26. Severability. It is intended that each paragraph of this Agreement shall be treated as separate and divisible, and in the event that any paragraphs are deemed unenforceable, the remainder shall continue to be in full force and effect so long as the primary purpose of this Agreement is unaffected.

27. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

28. Use of Electronic (Digital) Signatures. This Agreement may be executed in any number of counterparts, each of which will be an original, but all of which together will constitute one instrument.

Each party of this Agreement agrees to the use of electronic signatures, such as digital signatures that meet the requirements of the California Uniform Electronic Transactions Act ((“CUETA”) Cal. Civ.

Code §§ 1633.1 to 1633.17), for executing this Agreement. The parties further agree that the electronic signatures of the parties included in this Agreement are intended to authenticate this writing and to have the same force and effect as manual signatures. Electronic signature means an electronic sound, symbol, or process attached to or logically associated with an electronic record and executed or adopted by a person with the intent to sign the electronic record pursuant to the CUETA as amended from time to time. The CUETA authorizes use of an electronic signature for transactions and contracts among parties in California, including a government agency. Digital signature means an electronic identifier, created

3.A.5.a
Packet Pg. 114 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 8 by computer, intended by the party using it to have the same force and effect as the use of a manual signature, and shall be reasonably relied upon by the parties. For purposes of this section, a digital signature is a type of "electronic signature" as defined in subdivision (i) of Section 1633.2 of the Civil Code
[Signature Provisions on Following Page]

3.A.5.a
Packet Pg. 115 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 9 28. Authority to Enter Agreement. Each Party to this Agreement warrants to the other that it is duly organized and existing and that it and the respective signatories have full right and authority to enter into and consummate this Agreement and all related documents and bind the parties thereto.

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on the date as indicated beside each Party's signature.

COUNTY: SUBRECIPIENT:

COUNTY OF RIVERSIDE, a political subdivision CITY OF SAN JACINTO of the State of California
By: ______________________________ By: _______________________________ Chair, Board of Supervisors City Manager
ATTEST:

Clerk of the Board
Kimberly Rector
By: _____________________________
Deputy
(Seal)

APPROVED AS TO FORM
County Counsel
By: ________________________
Kristine Bell-Valdez
Deputy County Counsel

3.A.5.a
Packet Pg. 116 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 10 Attachment A – Infrastructure Project Scope
State Street Rehab (Idyllwild to 9th Street) Project
Scope of Work
The Subrecipient will complete all planning, design and procurement necessary to complete the Project, which includes rehabilitation of the entire pavement from 9th Street to Idyllwild Drive, consisting of a grind and overlay of a 0.20-feet deep section of asphalt with 113,000 sq. feet of complete pavement removal and replacement, and traffic signal equipment upgrade at 7th and State Street.

Project Budget

ITEM DESCRIPTION

COUNTY OF

RIVERSIDE ARPA

PROJECT

FUNDING
AMOUNT
(Not to Exceed)

SUBRECIPIENT

NON-FEDERAL

FUNDING
AMOUNT

ESTIMATED

PROJECT COST
1 Facility Planning $0 0 N/A
2 Preliminary Design $0 0 N/A
3 Final Design $0 $137,000 $137,000
4 Spec Review,
Bid/Award
$0 $15,000 $15,000
5 Construction $2,000,000 $940,000 $2,940,000
TOTAL: $2,000,000 $1,092,000 $3,092,000
Schedule

ITEM DESCRIPTION OF SUBMITTAL ESTIMATED DUE
DATE
1 Feasibility Report N/A
2 Preliminary Design Report N/A
3 Final Design March 1, 2024
4 Spec Review, Bid/Award June 1, 2024
5 Construction and Implementation Jan 1 2025
6 Admin Closeout March 1, 2025

3.A.5.a
Packet Pg. 117 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 11 Attachment B – U.S. Treasury ARPA Fiscal Recovery Funds Final Rule

3.A.5.a
Packet Pg. 118 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4338 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 1Public Law 117–2. https://www.congress.gov/
117/plaws/publ2/PLAW-117publ2.pdf.
2Throughout this Supplementary Information,
Treasury uses ‘‘state, local, and Tribal
governments’’ or ‘‘recipients’’ to refer generally to
governments receiving SLFRF funds; this includes
states, territories, Tribal governments, counties,
metropolitan cities, and nonentitlement units of
local government.
3 86 FR 26786 (May 17, 2021).
4Centers for Disease Control and Prevention,
COVID Data Tracker: COVID–19 Vaccinations in the
United States, https://covid.cdc.gov/covid-datatracker/#vaccinations (last visited December 31, 2021).
5Centers for Disease Control and Prevention,
COVID Data Tracker, http://www.covid.cdc.gov/
covid-data-tracker/#datatracker-home (last visited
December 7, 2021).
6U.S. Bureau of Labor Statistics, Unemployment
Rate [UNRATE], retrieved from FRED, Federal
Reserve Bank of St. Louis; https://fred.
stlouisfed.org/series/UNRATE (last visited
December 7, 2021).
7 Id.
8U.S. Bureau of Economic Analysis, Real Gross
Domestic Product [GDPC1], retrieved from FRED,
Federal Reserve Bank of St. Louis, https://fred.
stlouisfed.org/series/GDPC1 (last visited December
7, 2021). 9U.S. Bureau of Labor Statistics, supra note 6. 10U.S. Bureau of Labor Statistics, All Employees, State Government [CES9092000001] and All
Employees, Local Government [CES9093000001],
retrieved from FRED, Federal Reserve Bank of St.

Louis, https://fred.stlouisfed.org/series/
CES9092000001 and https://fred.stlouisfed.org/
series/CES9093000001 (last visited December 7,
2021). 11The ARPA adds section 602 of the Social
Security Act, which creates the State Fiscal
Recovery Fund, and section 603 of the Social
Security Act, which creates the Local Fiscal
Recovery Fund (together, SLFRF). Sections 602 and
603 contain substantially similar eligible uses; the
primary difference between the two sections is that
section 602 establishes a fund for states, territories, and Tribal governments and section 603 establishes
a fund for metropolitan cities, nonentitlement units
of local government, and counties.

DEPARTMENT OF THE TREASURY
31 CFR Part 35
RIN 1505–AC77
Coronavirus State and Local Fiscal
Recovery Funds
AGENCY: Department of the Treasury.

ACTION: Final rule.

SUMMARY: The Secretary of the Treasury
(Treasury) is adopting as final the
interim final rule published on May 17,
2021, with amendments. This rule
implements the Coronavirus State Fiscal
Recovery Fund and the Coronavirus
Local Fiscal Recovery Fund established
under the American Rescue Plan Act.

DATES: The provisions in this final rule
are effective April 1, 2022.

FOR FURTHER INFORMATION CONTACT:

Katharine Richards, Director,
Coronavirus State and Local Fiscal
Recovery Funds, Office of Recovery
Programs, Department of the Treasury,
(844) 529–9527.

SUPPLEMENTARY INFORMATION:

I. Introduction
Overview
Since the first case of coronavirus
disease 2019 (COVID–19) was
discovered in the United States in
January 2020, the pandemic has caused
severe, intertwined public health and
economic crises. In March 2021, as
these crises continued, the American
Rescue Plan Act of 2021 (ARPA) 1
established the Coronavirus State and
Local Fiscal Recovery Funds (SLFRF) to
provide state, local, and Tribal
governments 2 with the resources
needed to respond to the pandemic and
its economic effects and to build a
stronger, more equitable economy
during the recovery. The U.S.

Department of the Treasury (Treasury)
issued an interim final rule
implementing the SLFRF program on
May 10, 2021 3 and has since disbursed
over $240 billion to state, local, and
Tribal governments and received over
1,500 public comments on the interim
final rule. Treasury is now issuing this
final rule which responds to public
comments, implements the ARPA
statutory provisions on eligible and
ineligible uses of SLFRF funds, and
makes several changes to the provisions
of the interim final rule, summarized
below in the section Executive
Summary of Major Changes.

Since Treasury issued the interim
final rule in May 2021, both the public
health and economic situations facing
the country have evolved. On the public
health front, the United States has made
tremendous progress in the fight against
COVID–19, including a historic
vaccination campaign that has reached
over 80 percent of adults with at least
one dose and is reaching millions of
children as well.4 However, the disease
continues to present an imminent threat
to public health, especially among
unvaccinated individuals. As the Delta
variant spread across the country this
summer and fall, the United States faced
another severe wave of cases, deaths,
and strain on the healthcare system,
with the risk of hospitalization and
mortality exponentially greater to
unvaccinated Americans. COVID–19 has
now infected over 50 million and killed
over 800,000 Americans since January
2020; tens of thousands of Americans
continue to be infected each day.5 Even
as the nation recovers, new and
emerging COVID–19 variants may
continue to pose threats to both public
health and the economy. Moving
forward, state, local, and Tribal
governments will continue to play a
major role in responding through
vaccination campaigns, testing, and
other services.

The economic recovery similarly has
made tremendous progress but faces
continued risks from the disease and the
disruptions it has caused. In the early
months of the pandemic, the United
States experienced the sharpest
economic downturn on record, with
unemployment spiking to 14.8 percent
in April 2020.6 The economy has
gradually added back jobs, with growth
accelerating in the first half of 2021.7
However, as the Delta variant spread,
the intensified health risks and renewed
disruptions slowed growth,
demonstrating the continued risks from
the virus. By fall 2021, the economy had
exceeded its pre-pandemic size 8 and
unemployment had fallen below 5
percent,9 but despite this progress, too
many Americans remain unemployed,
out of the labor force, or unable to pay
their bills, with this pain particularly
acute among lower-income Americans
and communities of color. Again,
moving forward, state, local, and Tribal
governments will remain on the
frontlines of the economic response and
rebuilding a stronger economy in the
aftermath of the pandemic.

However, as state, local, and Tribal
governments continue to face
substantial needs to respond to public
health and economic conditions, they
have also experienced severe impacts
from the pandemic and resulting
recession. State, local, and Tribal
governments cut over 1.5 million jobs in
the early months of the pandemic amid
sharp declines in revenue and remain
over 950,000 jobs below their prepandemic levels.10 As the Great Recession demonstrated, austerity
among state, local, and Tribal
governments can hamper overall
economic growth and severely curtail
the ability of governments to serve their
constituents.

Recognizing these imperatives, the
SLFRF program provides vital resources
for state, local, and Tribal governments
to respond to the pandemic and its
economic effects and to replace revenue
lost due to the public health emergency,
preventing cuts to government services.

Specifically, the ARPA provides that
SLFRF funds 11 may be used:
(a) To respond to the public health
emergency or its negative economic
impacts, including assistance to
households, small businesses, and
nonprofits, or aid to impacted industries
such as tourism, travel, and hospitality;
(b) To respond to workers performing
essential work during the COVID–19
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3.A.5.a
Packet Pg. 119 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4339 public health emergency by providing
premium pay to eligible workers;
(c) For the provision of government
services to the extent of the reduction in
revenue due to the COVID–19 public
health emergency relative to revenues
collected in the most recent full fiscal
year prior to the emergency; and
(d) To make necessary investments in
water, sewer, or broadband
infrastructure.

In addition, Congress specified two
types of ineligible uses of funds: funds
may not be used for deposit into any
pension fund or, for states and
territories only, to directly or indirectly
offset a reduction in net tax revenue
resulting from a change in law,
regulation, or administrative
interpretation.

Issued May 10, 2021, Treasury’s
interim final rule provided further detail
on eligible uses of funds within the four
statutory categories, ineligible uses of
funds, and administration of the
program. The interim final rule
provided state, local, and Tribal
governments substantial flexibility to
determine how best to use payments
from the SLFRF program to meet the
needs of their communities. The interim
final rule aimed to facilitate swift and
effective implementation by establishing
a framework for determining the types
of programs and services that are
eligible under the ARPA along with
examples of eligible uses of funds that
state, local, and Tribal governments may
consider.

State, local, and Tribal governments
are already deploying SLFRF funds to
make an impact in their communities.

The SLFRF program ensures that state,
local, and Tribal governments have the
resources needed to fight the pandemic,
sustain and strengthen the economic
recovery, maintain vital public services,
and make investments that support
long-term growth, opportunity, and
equity. Treasury looks forward to
supporting and engaging with state,
local, and Tribal governments as they
use these funds to make transformative
investments in their communities.

Finally, with so many pressing and
effective ways to use SLFRF funds, there
is no excuse for waste, fraud, or abuse
of these funds.

Treasury received over 1,500
comments spanning nearly all aspects of
the interim final rule. The final rule
considers and responds to comments,
provides clarification to many aspects of
the interim final rule, and makes several
changes to eligible uses under the
program, summarized immediately
below.

Executive Summary of Major Changes
and Clarifications
The final rule provides broader
flexibility and greater simplicity in the
program, in response to public
comments. Among other clarifications
and changes, the final rule provides for
the following:
• Public Health and Negative
Economic Impacts: In addition to
programs and services, the final rule
clarifies that recipients may use funds
for capital expenditures that support an
eligible COVID–19 public health or
economic response. For example,
recipients may build certain affordable
housing, childcare facilities, schools,
hospitals, and other projects consistent
with the requirements in this final rule
and the Supplementary Information.

In addition, the final rule presumes
that an expanded set of households and
communities are ‘‘impacted’’ or
‘‘disproportionately impacted’’ by the
pandemic, thereby allowing recipients
to provide responses to a broad set of
households and entities without
requiring additional analysis. Further,
the final rule provides a broader set of
enumerated eligible uses available for
these communities as part of COVID–19
public health and economic response,
including making affordable housing,
childcare, and early learning services
eligible in all impacted communities
and making certain community
development and neighborhood
revitalization activities eligible for
disproportionately impacted
communities.

Further, the final rule allows for a
broader set of uses to restore and
support government employment,
including hiring above a recipient’s prepandemic baseline, providing funds to employees that experienced pay cuts or
furloughs, avoiding layoffs, and
providing retention incentives.
• Premium Pay: The final rule offers
more streamlined options to provide
premium pay, by broadening the share
of essential workers who can receive
premium pay without a written
justification while maintaining a focus
on lower-income and frontline essential
workers.
• Revenue Loss: The final rule offers
a standard allowance for revenue loss of
up to $10 million, not to exceed a
recipient’s SLFRF award amount,
allowing recipients to select between a
standard amount of revenue loss or
complete a full revenue loss calculation.

Recipients that select the standard
allowance may use that amount for
government services.
• Water, Sewer, and Broadband
Infrastructure: The final rule
significantly broadens eligible
broadband infrastructure investments to
address challenges with broadband
access, affordability, and reliability, and
adds additional eligible water and sewer
infrastructure investments, including a
broad range of lead remediation and
stormwater management projects.

Structure of the Supplementary
Information
In addition to this Introduction, this
Supplementary Information is organized
into four sections: (1) Eligible Uses, (2)
Restrictions on Use, (3) Program
Administration Provisions, and (4)
Regulatory Analyses.

The Eligible Uses section describes
the standards to determine eligible uses
of funds in each of the four eligible use
categories:
(1) Responding to the public health
and negative economic impacts of the
pandemic (which includes several subcategories)
(2) Providing premium pay to
essential workers
(3) Providing government services to
the extent of revenue loss due to the
pandemic, and
(4) Making necessary investments in
water, sewer, and broadband
infrastructure.

Each eligible use category has
separate and distinct standards for
assessing whether a use of funds is
eligible. Standards, restrictions, or other
provisions in one eligible use category
do not apply to the others. Therefore,
recipients should first determine which
eligible use category a potential use of
funds fits within, then assess whether
the potential use of funds meets the
eligibility standard or criteria for that
category. In the case of uses to respond
to the public health and negative
economic impacts of the pandemic,
recipients should also determine which
sub-category the eligible use fits within
(i.e., public health, assistance to
households, assistance to small
businesses, assistance to nonprofits, aid
to impacted industries, or public sector
capacity and workforce), then assess
whether the potential use of funds
meets the eligibility standard for that
sub-category. Treasury does not preapprove uses of funds; recipients are advised to review the final rule and may
pursue eligible projects under it.

In some sections of the rule, Treasury
identifies specific uses of funds that are
eligible, called ‘‘enumerated eligible
uses’’; for example, Treasury provides
many enumerated eligible uses of funds
to respond to the public health and
negative economic impacts of the
pandemic. Uses of funds that are not
specifically named as eligible in this
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3.A.5.a
Packet Pg. 120 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4340 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 12Centers for Disease Control and Prevention,
COVID Data Tracker, http://www.covid.cdc.gov/
covid-data-tracker/#datatracker-home (last visited
December 31, 2021).
13U.S. Bureau of Labor Statistics, All Employees,
Total Nonfarm [PAYEMS] https://fred.
stlouisfed.org/series/PAYEMS (last visited
December 7, 2021).
final rule may still be eligible in two
ways. First, under the revenue loss
eligible use category, recipients have
broad latitude to use funds for
government services up to their amount
of revenue loss due to the pandemic. A
potential use of funds that does not fit
within the other three eligible use
categories may be permissible as a
government service, which recipients
can fund up to their amount of revenue
loss. For example, transportation
infrastructure projects are generally
ineligible as a response to the public
health and negative economic impacts
of the pandemic; however, a recipient
could fund these projects as a
government service up to its amount of
revenue loss, provided that other
restrictions on use do not apply. See
sections Revenue Loss and Restrictions
on Use for further information. Second,
the eligible use category for responding
to the public health and negative
economic impacts of the pandemic
provides a non-exhaustive list of
enumerated eligible uses, which means
that the listed eligible uses include
some, but not all, of the uses of funds
that could be eligible. The Eligible Uses
section provides a standard for
determining if other uses of funds,
beyond those specifically enumerated,
are eligible. If a recipient would like to
pursue a use of funds that is not
specifically enumerated, the recipient
should use the standard and other
guidance provided in the section Public
Health and Negative Economic Impacts
to assess whether the use of funds is
eligible.

Next, the Restrictions on Use section
describes limitations on how funds may
be used. Treasury has divided the
Restriction on Use section into (A)
statutory restrictions under the ARPA,
which include (1) offsetting a reduction
in net tax revenue, and (2) deposits into
pension funds, and (B) other restrictions
on use, which include (1) debt service
and replenishing reserves, (2)
settlements and judgments, and (3)
general restrictions. These restrictions
apply to all eligible use categories;
however, some restrictions apply only
to certain types of recipient
governments, and recipients are advised
to review the final rule to determine
which restrictions apply to their type of
government (e.g., state, territory, Tribal
government, county, metropolitan city,
or nonentitlement unit of government).

To reiterate, for recipient governments
covered by a specific restriction, that
restriction applies to all eligible use
categories and any use of funds under
the SLFRF program. Specifically:
• For states and territories only, funds
may not be used to offset directly or
indirectly a reduction in net tax revenue
resulting from a change in state or
territory law.
• For all recipients except Tribal
governments, funds may not be used for
deposits into a pension fund.
• For all recipients, funds may not be
used for debt service or replenishing
financial reserves.
• All recipients must also comply
with three general restrictions. First, a
recipient may not use SLFRF funds for
a program, service, or capital
expenditure that conflicts with or
contravenes the statutory purpose of
ARPA, including a program, service, or
capital expenditure that includes a term
or condition that undermines efforts to
stop the spread of COVID–19. Second,
recipients may not use SLFRF funds in
violation of the conflict-of-interest
requirements contained in the Award
Terms and Conditions, including any
self-dealing or violation of ethics rules.

Lastly, recipients should be aware that
federal, state, and local laws and
regulations, outside of SLFRF program
requirements, also apply, including for
example, environmental laws and
federal civil rights and
nondiscrimination requirements, which
include prohibitions on discrimination
on the basis of race, color, national
origin, sex (including sexual orientation
and gender identity), religion, disability,
age, or familial status (having children
under the age of 18).

The Program Administration
Provisions section describes the
processes and requirements for
administering the program on an
ongoing basis, specifically as relates to
the following: Distribution of funds,
timeline for using funds, transfer of
funds from a recipient to different
organizations, use of funds for program
administration, reporting on use of
funds, and remediation and recoupment
of funds used for ineligible purposes. Of
note, SLFRF funds may only be used for
costs incurred within a specific time
period, beginning March 3, 2021, with
all funds obligated by December 31,
2024 and all funds spent by December
31, 2026. Recipients are advised to also
consult Treasury’s Reporting and
Compliance Guidance for additional
information on program administration
processes and requirements, including
applicability of the Uniform Guidance.

Finally, the section Regulatory
Analyses provides Treasury’s analysis of
the impacts of this rulemaking, as
required by several laws, regulations,
and Executive Orders.

Throughout this Supplementary
Information, statements using the terms
‘‘should’’ or ‘‘must’’ refer to
requirements, except when used in
summarizing opinions expressed in
public comments. Statements using the
term ‘‘encourage’’ refer to
recommendations, not requirements.

II. Eligible Uses
A. Public Health and Negative
Economic Impacts
Background
Since the first case of COVID–19 was
discovered in the United States in
January 2020, the disease has infected
over 50 million and killed over 800,000
Americans.12 The disease—and
necessary measures to respond—have
had an immense public health and
economic impact on millions of
Americans across many areas of life, as
detailed below in the respective sections
on Public Health and Negative
Economic Impacts. Since the release of
the interim final rule in May 2021, the
country has made major progress in
fighting the disease and rebuilding the
economy but faces continued risks, as
illustrated by the spread of the Delta
variant and the resulting slowdown in
the economic recovery. The SLFRF
program, and Treasury’s interim final
rule, provide substantial flexibility to
recipients to respond to pandemic
impacts in their local community; this
flexibility is designed to help state,
local, and Tribal governments adapt to
the evolving public health emergency
and tailor their response as needs evolve
and to the particular local needs of their
communities.

Indeed, state, local, and Tribal
governments face continued needs to
respond at scale to the public health
emergency. This includes continued
public health efforts to slow the spread
of the disease, to increase vaccination
rates and provide vaccinations to new
populations as they become eligible, to
protect individuals living in congregate
facilities, and to address the broader
impacts of the pandemic on public
health. Similarly, while a strong
economic recovery is underway, the
economy remains 3.9 million jobs below
its pre-pandemic level, pointing to the
continued need for response efforts,
with low-income workers and
communities of color facing elevated
rates of unemployment and economic
hardship.13 Long-standing disparities in
health and economic outcomes in
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3.A.5.a
Packet Pg. 121 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4341 14Treasury uses ‘‘underserved’’ to refer to
populations sharing a particular characteristic, as
well as geographic communities, that have been
systematically denied a full opportunity to
participate in aspects of economic, social, and civic
life. In the interim final rule, Treasury generally
used the term ‘‘disadvantaged’’ to refer to these
same populations and communities.
15U.S. Bureau of Labor Statistics, All Employees,
State Government [CES9092000001] and All
Employees, Local Government [CES9093000001],
retrieved from FRED, Federal Reserve Bank of St.

Louis, https://fred.stlouisfed.org/series/
CES9092000001 and https://fred.stlouisfed.org/
series/CES9093000001 (last visited December 7,
2021).
16Tracy Gordon, State and Local Budgets and the
Great Recession, Brookings Institution (Dec. 31,
2012), http://www.brookings.edu/articles/state-andlocal-budgets-and-the-great-recession. 17 In some cases, a use may be permissible under
another eligible use category even if it falls outside
the scope of section (c)(1)(A) of section 602 and 603
of the Social Security Act.
underserved 14 communities, that
amplified and exacerbated the impacts
of the pandemic, also present continued
barriers to full and equitable recovery.

As state, local, and Tribal
governments work to meet the public
health and economic needs of their
communities, these governments are
also confronting the need to rebuild
their own capacity. Facing severe
budget challenges during the pandemic,
many state, local, and Tribal
governments have been forced to make
cuts to services or their workforces,
including cutting over 1.5 million jobs
from February to May 2020, or delay
critical investments. As of fall 2021,
state, local, and Tribal government
employment remained over 950,000 jobs
below pre-pandemic levels.15 In the
recovery from the Great Recession, cuts
to state, local, and Tribal governments
became a meaningful drag on economic
growth for several years, and the SLFRF
program provides the resources needed
to re-invest in vital public services and
workers to avoid this outcome.16

1. General Provisions: Structure and
Standards
Background: Sections 602(c)(1)(A)
and 603(c)(1)(A) of the Social Security
Act establish that recipients may use
funds ‘‘to respond to the public health
emergency with respect to COVID–19 or
its negative economic impacts,
including assistance to households,
small businesses, and nonprofits, or aid
to impacted industries such as tourism,
travel, and hospitality.’’ The interim
final rule established three categories
within this eligible use: (1) Public
health responses for those impacted by
the pandemic, including the general
public; (2) responses to the negative
economic impacts that were
experienced by those impacted as a
result of the pandemic; and (3)
additional services, either as a public
health response or a response to the
negative economic impacts of the
pandemic, for disproportionately
impacted communities.

The interim final rule established the
method to determine which specific
programs or services may be eligible to
respond to the public health emergency
or to respond to the negative economic
impacts of the public health emergency
within this framework. The interim final
rule included multiple enumerated uses
that are eligible within each of these
categories when provided to eligible
populations, including populations that
the interim final rule presumed to have
been impacted (in the case of public
health responses and responses to
negative economic impacts) or
disproportionately impacted (in the case
of disproportionately impacted
communities). Finally, the interim final
rule also allowed recipients to designate
additional individuals or classes as
impacted or disproportionately
impacted. The standards for each of
these criteria under the interim final
rule are discussed below.

To assess whether a program or
service would be eligible to respond to
the public health emergency or its
negative economic impacts, the interim
final rule stated that, ‘‘the recipient [is
required] to, first, identify a need or
negative impact of the COVID–19 public
health emergency and, second, identify
how the program, service, or other
intervention addresses the identified
need or impact [. . . .] [E]ligible uses
under this category must be in response
to the disease itself or the harmful
consequences of the economic
disruptions resulting from or
exacerbated by the COVID–19 public
health emergency.’’ The enumerated
eligible uses were presumed to meet this
criterion.

With respect to uses not specifically
enumerated in the interim final rule as
eligible public health responses, the
interim final rule stated that, ‘‘[t]o assess
whether additional uses would be
eligible under this category, recipients
should identify an effect of COVID–19
on public health, including either or
both of immediate effects or effects that
may manifest over months or years, and
assess how the use would respond to or
address the identified need.’’
With respect to uses not specifically
enumerated in the interim final rule as
eligible responses to a negative
economic impact of the public health
emergency, the interim final rule stated
that ‘‘[e]ligible uses that respond to the
negative economic impacts of the public
health emergency must be designed to
address an economic harm resulting
from or exacerbated by the public health
emergency. In considering whether a
program or service would be eligible
under this category, the recipient should
assess whether, and the extent to which,
there has been an economic harm, such
as loss of earnings or revenue, that
resulted from the COVID–19 public
health emergency and whether, and the
extent to which, the use would respond
to or address this harm.17 A recipient
should first consider whether an
economic harm exists and whether this
harm was caused or made worse by the
COVID–19 public health emergency.’’
The interim final rule went on to say
that: ‘‘In addition, the eligible use must
‘respond to’ the identified negative
economic impact. Responses must be
related and reasonably proportional to
the extent and type of harm
experienced; uses that bear no relation
or are grossly disproportionate to the
type or extent of harm experienced
would not be eligible uses.’’
Throughout this final rule, Treasury
refers to households, communities,
small businesses, nonprofits, and
industries that experienced public
health or negative economic impacts of
the pandemic as ‘‘impacted.’’ The first
section in the interim final rule under
this eligible use category included
public health responses for these
impacted classes. The second category
in the interim final rule under this
eligible use category included responses
to the negative economic impacts that
were experienced by these impacted
classes as a result of the pandemic.

The interim final rule further
recognized that certain populations
have experienced disproportionate
health or negative economic impacts
during the pandemic, as pre-existing
disparities in these communities
amplified the impacts of the pandemic.

For example, the interim final rule
recognized that the negative economic
effects of the pandemic were
particularly pronounced among lowerincome families, who were more likely to experience income loss and more
likely to have a job that required inperson work. The interim final rule recognized the role of pre-existing social
vulnerabilities and disparities in driving
the disparate health and economic
outcomes and presumed that programs
designed to address these health or
economic disparities are responsive to
the public health or negative economic
impacts of the COVID–19 public health
emergency, when provided in
disproportionately impacted
communities. In addition to identifying
certain populations and communities
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3.A.5.a
Packet Pg. 122 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4342 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 18Note that small businesses, nonprofits, and
industries may also function as subrecipients. For
additional information on these distinctions see
section Distinguishing Subrecipients versus
Beneficiaries.
presumed to be disproportionately
impacted, it also empowered recipients
to identify other disproportionately
impacted households, populations,
communities, or small businesses. The
interim final rule provided that, in
identifying these disproportionately
impacted communities, recipients
should be able to support their
determination that the pandemic
resulted in disproportionate public
health or economic outcomes to the
specific populations, households, or
geographic areas to be served.

Throughout this final rule, Treasury
refers to those households,
communities, small businesses, and
nonprofits that experienced
disproportionate public health or
negative economic impacts of the
pandemic as ‘‘disproportionately
impacted.’’ The third category in the
interim final rule under this eligible use
included public health responses and
responses to the negative economic
impacts for these disproportionately
impacted classes.

The interim final rule provided
significant flexibility for recipients to
determine which households,
populations, communities, or small
businesses have been impacted and/or
disproportionately impacted by the
pandemic and to identify appropriate
responses. The interim final rule
included several provisions to provide
simple methods for recipients to
identify impacts and design programs to
address those impacts. First, the interim
final rule allowed recipients to
demonstrate a negative economic
impact on a population or class and
provide assistance to households or
small businesses that fall within that
population or class. In such cases, the
recipient need only demonstrate that an
individual household or business is
within the class that experienced a
negative economic impact, rather than
requiring a recipient to demonstrate that
each individual household or small
business experienced a negative
economic impact, because the impact
was already identified for the class.

Second, in the interim final rule,
Treasury presumed that certain
populations have been impacted or
disproportionately impacted and are
thus eligible for services that respond to
these impacts or disproportionate
impacts. Specifically, the interim final
rule permitted recipients to presume
that households that experienced
unemployment, increased food or
housing insecurity, or are low- or
moderate-income experienced a
negative economic impact from the
pandemic. The interim final rule also
permitted recipients to presume that
certain services provided in Qualified
Census Tracts (QCTs), to individuals
living in QCTs, or by Tribal
governments are responsive to
disproportionate impacts of the
pandemic. In addition to the
populations presumed to be impacted or
disproportionately impacted, under the
interim final rule, recipients could
identify other impacted households or
classes, as described above, as well as
other populations, households, or
geographic areas that are
disproportionately impacted by the
pandemic.

Third, as mentioned previously, the
interim final rule included a nonexhaustive list of uses of funds that Treasury identified as responsive to the
impacts or disproportionate impacts of
the pandemic. Treasury refers to these
as ‘‘enumerated eligible uses.’’
To summarize, the interim final rule
identified certain populations that are
presumed to be impacted by the
pandemic (and specific enumerated
uses of funds that are responsive to that
impact) and populations that are
presumed to be disproportionately
impacted by the pandemic (and specific
enumerated uses of funds that are
responsive to those disproportionate
impacts). In addition, the interim final
rule provided standards for recipients to
assess whether additional uses of funds,
beyond the enumerated eligible uses,
are eligible for impacted and
disproportionately impacted
populations and permitted recipients to
identify other households or classes that
experienced impacts of the pandemic or
disproportionate impacts of the
pandemic.

Rule Structure
Public Comment: Many commenters
expressed concern regarding the
structure of the eligible uses, indicating
they found the structure of the public
health and negative economic impacts
section of the interim final rule to be
confusing or difficult to navigate. Other
commenters indicated that they
understood the enumerated uses to be
the only eligible uses and/or the
presumed eligible populations to be the
only eligible populations. Several
commenters expressed frustration about
the number of eligible uses specifically
enumerated in the interim final rule,
which they considered too few, and
commenters proposed a wide range of
additional enumerated eligible uses (for
further discussion, see the section
Public Health and section Negative
Economic Impacts). Commenters
expressed concern with pursuing uses
of funds not explicitly enumerated in
the eligible use section or uncertainty
regarding the broad flexibility provided
under the interim final rule to pursue
additional programs that respond to the
public health or negative economic
impacts of the pandemic or the process
for doing so.

Treasury Response: Treasury
recognizes that many commenters felt
the structure of the interim final rule
could be clarified. These comments are
consistent with many of the questions
that Treasury has received from
recipients, which requested clarification
regarding the category their desired
response fits into. Treasury observes
that these comments and questions
generally fall into four categories: (1)
How to identify the correct public
health or negative economic impact
category for a particular response, (2)
how to identify whether a particular use
is eligible, (3) how to identify an
impacted or disproportionately
impacted class, and (4) whether an
enumerated use can be provided to a
class other than those presumed
impacted or disproportionately
impacted. In response to comments,
Treasury is adjusting the structure of the
public health and negative economic
impacts eligible use section of the final
rule to improve clarity and make it
easier for recipients to interpret and
apply the final rule.

Specifically, Treasury is restructuring
the rule to aid recipients in determining
whether a particular response is eligible
and how the particular response might
be eligible under a particular category.

This restructuring reinforces the
fundamental criteria that a use of funds
is eligible based on its responsiveness to
a public health or negative economic
impact experienced by individuals,
households, small businesses,
nonprofits, or impacted industries
(together ‘‘beneficiaries’’).18 This
restructuring is intended to make the
rule easier to navigate and to
implement, including any criteria or
conditions on particular uses of funds.

The reorganization of the public
health and negative economic impacts
section of the final rule is also intended
to clarify the enumerated eligible uses
described in the interim final rule. The
reorganization itself is not intended to
change the scope of the enumerated
uses that were included in the interim
final rule or that were allowable under
the interim final rule. In some cases,
specific enumerated uses are being
altered, and those changes are discussed
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3.A.5.a
Packet Pg. 123 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4343 19 In designing an intervention to mitigate
COVID–19, the recipient should consider guidance
from public health authorities, particularly the
Centers for Disease Control and Prevention (CDC),
in assessing appropriate COVID–19 mitigation and
prevention strategies (see Centers for Disease
Control and Prevention, COVID–19, https://
www.cdc.gov/coronavirus/2019-ncov/index.html).

A program or service that imposes conditions on
participation in or acceptance of the service that
would undermine efforts to stop the spread of
COVID–19 or discourage compliance with practices
in line with CDC guidance for stopping the spread
of COVID–19 is not a permissible use of funds.
as changes within the section on that
enumerated use.

The final rule streamlines and aligns
services and standards that are generally
applicable or are provided for public
health purposes. Under this approach,
eligible uses to respond to the public
health emergency are organized based
on the type of public health problem: (1)
COVID–19 mitigation and prevention,
(2) medical expenses, (3) behavioral
health care, and (4) preventing and
responding to violence. Under this
approach, eligible uses to respond to the
negative economic impacts of the public
health emergency are organized based
on the type of beneficiary: (1) Assistance
to households, (2) assistance to small
businesses, and (3) assistance to
nonprofits, alongside a fourth
standalone eligibility category for aid to
travel, tourism, hospitality, and other
impacted industries. The first three
categories, assistance to households,
small businesses, and nonprofits,
include enumerated eligible uses for
impacted and disproportionately
impacted beneficiaries. This change in
structure is intended to provide a
framework that clearly identifies the
intended beneficiaries of uses of funds
and provides clarity about what types of
assistance are ‘‘responsive to the
pandemic or its negative economic
impacts’’ for these beneficiaries.
a. Standards for Identifying a Public
Health or Negative Economic Impact
Standards: Designating a Public Health
Impact
Public Comment: Many commenters
expressed uncertainty about how to
determine whether a use of funds,
beyond those specifically enumerated as
eligible, might be an eligible public
health response. For example, many
commenters submitted questions asking
whether specific uses of funds would be
eligible. Others described what they
considered to be impacts of the
pandemic and argued that uses of funds
to respond to these issues should be
eligible. Some commenters requested
that Treasury provide additional detail
to guide their assessments of eligible
uses of funds. For example, a
commenter requested more clarification
around exactly what and whose medical
expenses can be covered. These
comments ranged in their specificity
and covered the full range of the
enumerated eligible uses.

Treasury Response: Treasury is
clarifying that when assessing whether
a program or service is an eligible use
to respond to the public health impacts
of the COVID–19 public health
emergency, the Department will
consider the two eligibility
requirements discussed below. These
standards apply to all proposed public
health uses.

First, there must be a negative public
health impact or harm experienced by
an individual or a class. For ease of
administration, the interim final rule
allowed, and the final rule maintains
the ability for, recipients to identify a
public health impact on a population or
group of individuals, referred to as a
‘‘class,’’ and to provide assistance to
that class. In determining whether an
individual is eligible for a program
designed to address a harm experienced
by a class, the recipient need only
document that the individual is within
the class that experienced a public
health impact, see section Standards:

Designating Other Impacted Classes. In
the case of some impacts, for example
impacts of COVID–19 itself that are
addressed by providing prevention and
mitigation services, such a class could
reasonably include the general public.

Second, the program, service, or other
intervention must address or respond to
the identified impact or harm. The final
rule maintains the interim final rule
requirement that eligible uses under this
category must be in response to the
disease itself or other public health
harms that it caused.19
Responses must be reasonably
designed to benefit the individual or
class that experienced the public health
impact or harm. Uses of funds should be
assessed based on their responsiveness
to their intended beneficiaries and the
ability of the response to address the
impact or harm experienced by those
beneficiaries.

Responses must also be related and
reasonably proportional to the extent
and type of public health impact or
harm experienced. Uses that bear no
relation or are grossly disproportionate
to the type or extent of harm
experienced would not be eligible uses.

Reasonably proportional refers to the
scale of the response compared to the
scale of the harm. It also refers to the
targeting of the response to beneficiaries
compared to the amount of harm they
experienced. In evaluating whether a
use is reasonably proportional,
recipients should consider relevant
factors about the harm identified and
the response. For example, recipients
may consider the size of the population
impacted and the severity, type, and
duration of the impact. Recipients may
also consider the efficacy, cost, costeffectiveness, and time to delivery of the response.

If a recipient intends to fund capital
expenditures in response to the public
health impacts of the pandemic,
recipients should refer to the section
Capital Expenditures for details about
the eligibility of capital expenditures.

Standards: Designating a Negative
Economic Impact
Public Comment: Many commenters
expressed uncertainty about how to
determine whether uses of funds,
beyond those specifically enumerated as
eligible, might be eligible responses to
negative economic impacts. For
example, many commenters submitted
questions asking whether specific uses
of funds would be eligible. Others
described what they considered to be
impacts of the pandemic and argued
that uses of funds to respond to these
issues should be eligible. Some
commenters requested that Treasury
provide additional detail to guide their
assessments of eligible uses of funds.

These comments ranged in their
specificity and covered the full range of
eligible uses to respond to negative
economic impacts. Several commenters
asked for clarification about what types
of food assistance would be considered
eligible. Another commenter requested
that the establishment of outdoor dining
be eligible. Many commenters inquired
about homeless shelters as an eligible
use of SLFRF funds.

Commenters also expressed
uncertainty about the ability to establish
classes, including geographic areas, that
experienced a negative economic impact
or disagreed with the requirement that
an individual entity be impacted by the
pandemic in order to receive assistance.

For example, a commenter argued that
interventions should not be limited to
individuals or businesses that
experienced an economic impact and
should instead be used broadly to
support economic growth. These
commenters argued that an expenditure
that supports a more robust economy
may help combat the pandemic’s
negative economic impacts, and it can
do so even if funding is provided to
individuals or entities that did not
themselves experience a negative
economic impact during the pandemic.

Treasury Response: The final rule
maintains the standard articulated in
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3.A.5.a
Packet Pg. 124 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4344 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 20For example, expenses such as excessive
compensation to employees or expenses which
have already been reimbursed through another
federal program, are not reasonably designed to
address a negative economic impact to a
beneficiary.
21For example, a program or service that imposes
conditions on participation in or acceptance of the
service that would undermine efforts to stop the
spread of COVID–19 or discourage compliance with
practices in line with CDC guidance for stopping
the spread of COVID–19 is not a permissible use of
funds.
the interim final rule. For clarity, the
final rule re-articulates that when
assessing whether a program or service
is an eligible use to respond to the
negative economic impacts of the
COVID–19 public health emergency,
Treasury will consider the two
eligibility requirements discussed
below.

First, there must be a negative
economic impact, or an economic harm,
experienced by an individual or a class.

The recipient should assess whether,
and the extent to which, there has been
an economic harm, such as loss of
earnings or revenue, that resulted from
the COVID–19 public health emergency.

A recipient should first consider
whether an economic harm exists and
then whether this harm was caused or
made worse by the COVID–19 public
health emergency. This approach is
consistent with the text of the statute,
which provides that funds in this
category must be used to ‘‘respond to
the public health emergency with
respect to . . . its negative economic
impacts.’’
While economic impacts may either
be immediate or delayed, individuals or
classes that did not experience a
negative economic impact from the
public health emergency would not be
eligible beneficiaries under this
category. As noted above, the interim
final rule permitted recipients to
presume that households that
experienced unemployment, increased
food or housing insecurity, or are lowor moderate-income experienced a negative economic impact from the
pandemic. For discussion of the final
rule’s approach to this presumption, see
section Populations Presumed Eligible.

The final rule also maintains several
provisions included in the interim final
rule and subsequent guidance that are
intended to ease administration of
identifying that the beneficiary
experienced a negative economic impact
or harm. For example, the interim final
rule allowed, and the final rule
maintains the ability for, recipients to
demonstrate a negative economic
impact on a population or group,
referred to as a ‘‘class,’’ and to provide
assistance to households, small
businesses, or nonprofits that fall within
that class. In such cases, the recipient
need only demonstrate that the
household, small business, or nonprofit
is within the class that experienced a
negative economic impact, see section
Standards: Designating Other Impacted
Classes. This would allow, for example,
an internet access assistance program
for all households with children to
support those households’ ability to
participate in healthcare, work, and
educational activities like extending
learning opportunities, among other
critical activities. In that case, the
recipient would only need to identify a
negative economic impact to the class of
‘‘households with children’’ and would
not need to document or otherwise
demonstrate that each individual
household served experienced a
negative economic impact.

Second, the response must be
designed to address the identified
economic harm or impact resulting from
or exacerbated by the public health
emergency. In selecting responses, the
recipient must assess whether, and the
extent to which, the use would respond
to or address this harm or impact. This
approach is consistent with the text of
the statute, which provides that funds
may be used to ‘‘respond to’’ the
‘‘negative economic impacts’’ of the
public health emergency ‘‘including
assistance to households, small
businesses, and nonprofits, or aid to
impacted industries such as tourism,
travel, and hospitality.’’ The list of
potential responses (‘‘assistance’’ or
‘‘aid’’) suggests that responses should
address the ‘‘negative economic
impacts’’ of particular types of
beneficiaries (e.g., households or small
businesses).

Responses must be reasonably
designed to benefit the individual or
class that experienced the negative
economic impact or harm. Uses of funds
should be assessed based on their
responsiveness to their intended
beneficiary and the ability of the
response to address the impact or harm
experienced by that beneficiary.20
Responses must also be related and
reasonably proportional to the extent
and type of harm experienced; uses that
bear no relation or are grossly
disproportionate to the type or extent of
harm experienced would not be eligible
uses.21 Reasonably proportional refers
to the scale of the response compared to
the scale of the harm. It also refers to the
targeting of the response to beneficiaries
compared to the amount of harm they
experienced; for example, it may not be
reasonably proportional for a cash
assistance program to provide assistance
in a very small amount to a group that
experienced severe harm and in a much
larger amount to a group that
experienced relatively little harm. In
evaluating whether a use is reasonably
proportional, recipients should consider
relevant factors about the harm
identified and the response. For
example, recipients may consider the
size of the population impacted and the
severity, type, and duration of the
impact. Recipients may also consider
the efficacy, cost, cost-effectiveness, and
time to delivery of the response.

Finally, recipients should be aware of
the distinction between beneficiaries of
funds and subrecipients; a recipient
may provide services to beneficiaries
through subrecipients that did not
experience a negative economic impact,
see section Distinguishing Subrecipients
versus Beneficiaries. That is, a recipient
may award SLFRF funds to an entity
that did not experience a negative
economic impact in order to implement
a program or provide a service to
beneficiaries on its behalf. Such
transfers, when implementing a public
health or negative economic impact
response, should be responsive to and
designed to benefit individuals,
households, small businesses,
nonprofits, or impacted industries that
did experience a public health or
negative economic impact.

Determining the Appropriate Eligible
Use Category
Public Comment: Some commenters
expressed uncertainty about how to
analyze negative economic impacts to
different entities (e.g., households, small
businesses, nonprofits). For example,
commenters asked whether a nonprofit,
which did not experience a negative
economic impact itself, could be granted
funds to provide services to individuals
experiencing homelessness, who did
experience negative economic impacts.

Other commenters proposed providing
assistance to support the expansion of
small businesses, under the theory that
this would create more job
opportunities for unemployed workers
who experienced negative economic
impacts.

Treasury Response: In the final rule,
Treasury is clarifying that recipients
should assess a potential use of funds
based on which beneficiary experienced
the negative economic impact, in other
words, the households, small
businesses, nonprofits, or impacted
industries that experienced the negative
economic impact.

Treasury notes that recipients may
award SLFRF funds to many different
types of organizations to carry out
eligible uses of funds and serve
beneficiaries on behalf of a recipient.

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3.A.5.a
Packet Pg. 125 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4345 22AMI is also often referred to as median family
income for the area. Since AMI is synonymous with
this term and used more generally, the final rule
refers to AMI.
23For the six New England states of Connecticut,
Maine, Massachusetts, New Hampshire, Rhode
Island, and Vermont, HUD provides AMI for towns
rather than counties. Recipients in these states
should use the AMI corresponding to their town
when determining thresholds for both low and
moderate income.

When a recipient provides funds to
another entity to carry out eligible uses
of funds and serve beneficiaries the
entity becomes a subrecipient (see
section Distinguishing a Subrecipient
versus a Beneficiary). For example, a
recipient may grant funds to a nonprofit
organization to provide food assistance
(an eligible use) to low-income
households (the beneficiaries).

Recipients only need to assess whether
the beneficiaries experienced a negative
economic impact and whether the
eligible use responds to that impact,
consistent with the two-part framework
described above; the organization
carrying out the eligible use does not
need to have experienced a negative
economic impact if it is serving as the
vehicle for reaching the beneficiaries.

When making determinations about
how to implement a program, recipients
should consider whether that method of
program implementation is an effective
and efficient method to implement the
program and do so in accordance with
the Uniform Guidance provisions that
govern procurements and sub-granting
of federal funds, as applicable.

As noted above, recipients should
analyze eligible uses based on the
beneficiary of the assistance or the
entity that experienced a negative
economic impact. Assistance to a small
business or to an impacted industry
must respond to a negative economic
impact experienced by that small
business or industry. Recipients may
not provide assistance to small
businesses or impacted industries that
did not experience a negative economic
impact, although recipients can identify
negative economic impacts for classes,
rather than individual businesses, and
may also presume that small businesses
in certain areas experienced impacts;
see section General Provisions:

Structure and Standards and section
Assistance to Small Businesses for
details.

Several examples illustrate the
application of these concepts. For
example, a recipient could provide
assistance to households via a contract
with a business to create subsidized jobs
for the long-term unemployed; in this
case the business is a subrecipient and
need not have experienced a negative
economic impact, but the recipient
would need to identify a specific
connection between the assistance
provided and addressing the negative
economic impact experienced by the
unemployed households. The recipient
could, for instance, document the
subsidized jobs created under the
contract and their reservation for longterm unemployed individuals.

Similarly, a recipient might provide
assistance to a small business that
experienced a pandemic-related loss of
revenue. This small business is a
beneficiary and may use those funds in
many ways, potentially including hiring
or retaining staff. However, general
assistance to a business that did not
experience a negative economic impact
under the theory that this assistance
generally grows the economy and
therefore enhances opportunities for
unemployed workers would not be an
eligible use, because such assistance is
not reasonably designed to impact the
individuals or classes that experienced
a negative economic impact. In other
words, there is not a reasonable
connection between the assistance
provided and an impact on the
beneficiaries. Such an activity would be
attenuated from and thus not reasonably
designed to benefit the households that
experienced the negative economic
impact.
b. Populations Presumed Eligible
Presumed Eligibility: Impacted and
Disproportionately Impacted
Households and Communities
Background: As noted above, the
interim final rule allowed recipients to
presume that certain households were
impacted or disproportionately
impacted by the pandemic and thus
eligible for responsive programs or
services. Specifically, under the interim
final rule, recipients could presume that
a household or population that
experienced unemployment,
experienced increased food or housing
insecurity, or is low- or moderateincome experienced negative economic impacts resulting from the pandemic,
and recipients may provide services that
respond to these impacts.

The interim final rule also recognized
that pre-existing health, economic, and
social disparities contributed to
disproportionate pandemic impacts in
certain communities and allowed for a
broader list of enumerated eligible uses
to respond to the pandemic in
disproportionately impacted
communities. Under the interim final
rule, recipients were allowed to
presume that families residing in QCTs
or receiving services provided by Tribal
governments were disproportionately
impacted by the pandemic.

Definition of Low- and ModerateIncome
Public Comment: As noted earlier,
many commenters sought a definition
for ‘‘low- and moderate-income’’ to
provide recipients greater clarity on
which specific households could be
presumed to be impacted by the
pandemic.

Treasury Response: The final rule
maintains the presumptions identified
in the interim final rule and defines
low- and moderate-income for the
purposes of determining which
households and populations recipients
may presume to have been impacted. To
simplify the administration of this
presumption, the final rule adopts a
definition of low- and moderate-income
based on thresholds established and
used in other federal programs.

Definitions. The final rule defines a
household as low income if it has (i)
income at or below 185 percent of the
Federal Poverty Guidelines (FPG) for the
size of its household based on the most
recently published poverty guidelines
by the Department of Health and Human
Services (HHS) or (ii) income at or
below 40 percent of the Area Median
Income (AMI) for its county and size of
household based on the most recently
published data by the Department of
Housing and Urban Development
(HUD).22
The final rule defines a household as
moderate income if it has (i) income at
or below 300 percent of the FPG for the
size of its household based on the most
recently published poverty guidelines
by HHS or (ii) income at or below 65
percent of the AMI for its county and
size of household based on the most
recently published data by HUD.23
Recipients may determine whether to
measure income levels for specific
households or for a geographic area
based on the type of service to be
provided. For example, recipients
developing a program that serves
specific households (e.g., a subsidy for
internet access, a childcare program)
may measure income at the household
level. Recipients providing a service
that reaches a general geographic area
(e.g., a park) may measure median
income of that area.

Further, recipients should generally
use the income threshold for the size of
the household to be served (e.g., when
providing childcare to a household of
five, recipients should reference the
income threshold for a household of
five); however, recipients may use the
income threshold for a default
household size of three if providing
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3.A.5.a
Packet Pg. 126 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4346 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 24U.S. Department of Health and Human Service,
HHS Poverty Guidelines for 2021, available at
https://aspe.hhs.gov/topics/poverty-economicmobility/poverty-guidelines. 25U.S. Department of Housing and Urban Development, FY 2021 Section 8 Income Limits,
available at https://www.huduser.gov/portal/
datasets/il/il21/Section8-FY21.xlsx. Recipients may
refer to the list of counties (and New England
towns) identified by state and metropolitan area for
identifying the appropriate area. U.S. Department of
Housing and Urban Development, FY 2021 List of
Counties (and New England Towns) Identified by
State and Metropolitan Area, available at https://
www.huduser.gov/portal/datasets/il/il21/areadefinitions-FY21.pdf. 26The U.S. Census Bureau provides an interactive map: U.S. Census Bureau, Median Household
Income State Selection Map, available at https://
data.census.gov/cedsci/map?q=Median
%20Household%20Income&g=0100000US
%2404000%24001&tid=ACSST5Y2019.S1901&cid=
S1901_C01_012E&vintage=2019. The U.S. Census
Bureau also provides an interactive table: U.S.

Census Bureau, Median Household Income In The
Past 12 Months (In 2019 Inflation-Adjusted Dollars),
available at https://data.census.gov/cedsci/table?q=
b19013&tid=ACSDT5Y2019.B19013&hidePreview=
true.
27See U.S. Bureau of Labor Statistics,
Occupational Employment and Wage Estimates,
https://www.bls.gov/oes/current/oes_nat.htm (last
visited December 7, 2021).
28U.S. Census Bureau, Poverty Status by State,
https://www.census.gov/data/tables/time-series/
demo/income-poverty/cps-pov/pov-46.html (last
visited December 7, 2021).
services that reach a general geographic
area or if doing so would simplify
administration of the program to be
provided (e.g., when developing a park,
recipients should use the income
threshold for a household size of three
and compare it to median income of the
geographic area to be served).

Note that recipients can also identify
and serve other classes of households
that experienced negative economic
impacts or disproportionate impacts
from the pandemic; recipients can
identify these classes based on their
income levels, including above the
levels defined as low- and moderateincome in the final rule. For example, a recipient may identify that households
in their community with incomes above
the final rule threshold for low-income
nevertheless experienced
disproportionate impacts from the
pandemic and provide responsive
services. See section General Provisions:

Standards for Identifying Other Eligible
Populations for details on applicable
standards.

Applicable levels. For reference, the
FPG is commonly referred to as the
federal poverty level (FPL) and is
related to—although distinct from—the
U.S. Census Bureau’s poverty threshold.

The final rule uses the FPG when
referring specifically to the HHS
guidelines, as these are the quantitative
metrics used for determining low- and
moderate-income households.

The FPG by household size for 2021
is included in the table below.

Recipients should refer to HHS Poverty
Guidelines for this information, which
is updated annually and available on
the HHS website.24 For calculating the
thresholds of 40 percent and 65 percent
of AMI, recipients should refer to the
annual HUD Section 8 50 percent
income limits by county and household
size published by HUD and available on
the HUD website; in particular,
recipients should calculate the 40
percent threshold as 0.8 times the 50
percent income limit, and recipients
should calculate the 65 percent
threshold as 1.3 times the 50 percent
income limit.25 Finally, for median
income of Census Tracts and other
geographic areas, recipients should refer
to the most recent American
Community Survey 5-year estimates
available through the Census website.26
2021 FEDERAL POVERTY GUIDELINES
Household size
48 contiguous
states and the
District of
Columbia
Alaska Hawaii
1 ................................................................................................................................................... $12,880 $16,090 $14,820 2 ................................................................................................................................................... 17,420 21,770 20,040 3 ................................................................................................................................................... 21,960 27,450 25,260 4 ................................................................................................................................................... 26,500 33,130 30,480 5 ................................................................................................................................................... 31,040 38,810 35,700 6 ................................................................................................................................................... 35,580 44,490 40.920 7 ................................................................................................................................................... 40,120 50,170 46,140 8 ................................................................................................................................................... 44,660 55,850 51,360 For families/households with more than 8 persons, add the following amounts for each additional person:
48 Contiguous States and the District of Columbia: $4,540.

Alaska: $5,680.

Hawaii: $5,220.

Source: ‘‘HHS Poverty Guidelines for 2021,’’ available at https://aspe.hhs.gov/topics/poverty-economic-mobility/poverty-guidelines.

Rationale. In defining low income, the
final rule uses both the FPG and AMI to
account for national trends and regional
differences. The metric of 185 percent of
FPG aligns with some other programs;
for instance, under the National School
Lunch Program, students with
household incomes under 185 percent
of FPG qualify for free or reduced-price
lunch, and schools often use eligibility
for free or reduced-price lunch as an
indicator of low-income status under
Title 1–A of the Elementary and
Secondary Education Act. Eligibility for
other programs, such as the Federal
Communications Commission’s e-Rate
program and the Special Supplemental
Nutrition Program for Women, Infants
and Children employ this metric as
well. In addition, 185 percent of the
FPG for a family of four is $49,025,
which is approximately the wage
earnings for a two-earner household in
which both earners receive the median
wage in occupations, such as waiters
and waitresses and hotel clerks, that
were heavily impacted by COVID–19.27
This measure is targeted toward those at
the bottom of the income distribution
and thus helps to promote use of SLFRF
funds towards populations with the
greatest needs. At the same time, with
approximately one-quarter of Americans
below 185 percent of the poverty
threshold, this approach is broad
enough to facilitate use of SLFRF funds
across many jurisdictions.28 Because
regions have different cost and income
levels, this definition also allows for
upward adjustment based on AMI for
those regions where 40 percent of AMI
exceeds 185 percent of FPG. The metric
of 40 percent of AMI is based on the
midpoint of values often used to
designate certain categories of lowincome households; specifically, it is the midpoint of the 30 percent income
limit and the 50 percent income limit
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3.A.5.a
Packet Pg. 127 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4347 29For instance, Melissa Kearney et al. (2013) cap
the ‘‘struggling lower middle-income class’’ at 250
percent of the federal poverty level, while Isabel
Sawhill and Edward Rodrigue (2015) define the
‘‘middle class’’ as those with incomes of at least 300
percent of the poverty line. Melissa Kearney et al.,
‘‘A Dozen Facts about America’s Struggling LowerMiddle Class,’’ The Hamilton Project (December 2013), https://www.hamiltonproject.org/assets/
legacy/files/downloads_and_links/THP_12Low
IncomeFacts_Final.pdf; Isabel Sawhill and Edward
Rodrigue, ‘‘An Agenda for Reducing Poverty and
Improving Opportunity,’’ Brookings Institution,
https://www.brookings.edu/wp-content/uploads/
2016/07/Sawhill_FINAL.pdf.
30 Data on median annual wages from: U.S.

Bureau of Labor and Statistics, Occupational
Employment and Wage Statistics, available at
https://www.bls.gov/oes/current/oes_nat.htm (last
visited December 7, 2021).
31For instance, households earning between 200
and 300 percent of the FPG have significantly
higher rates of food and housing insecurity than
those earning above 300 percent of the FPG. Table
1, Kyle J. Caswell and Stephen Zuckerman, Food
Insecurity, Housing Hardship, and Medical Care
Utilization, Urban Institute (June 2018), https://
www.urban.org/sites/default/files/publication/
98701/2001896_foodinsecurity_housinghardship_
medicalcareutilization_finalized.pdf.
used in programs such as the
Community Development Block Grant
(CDBG) Program.

In defining moderate income, the final
rule uses both the FPG and AMI to
account for national trends and regional
differences. While there are different
definitions of moderate income, 300
percent of FPG falls within the range
commonly used by researchers.29
Analysis of median wages among a
sample of occupations likely impacted
by the pandemic also suggests that an
income cutoff of 300 percent of FPG
would include many households with
workers in such occupations.30
Moreover, the metric of 300 percent of
FPG covers households that, while
above the poverty line, often lack
economic security.31 Treasury
determined the AMI threshold for
moderate income by maintaining the
same ratio of FPG multiplier to AMI
multiplier as in the definition of low
income. This anchors the threshold to
the existing definitions of moderate
income from the literature while taking
into account geographical variation in
income and expenses in the same
manner as the definition of low income.

Eligibility Presumptions
Public Comment: Many commenters
believed that a broader range of groups
should be considered presumptively
impacted and disproportionately
impacted, arguing that many
households had been affected by the
pandemic and that broader presumed
eligibility would help recipients provide
assistance quickly and effectively.

Treasury also received many
comments on the presumption that
families living in QCTs or receiving
services from Tribal governments were
disproportionately impacted by the
pandemic. While many commenters
supported the interim final rule’s
recognition of disproportionate impacts
of the pandemic on low-income
communities, many commenters
disagreed with treating QCTs as the only
presumed eligible group of
disproportionately impacted
households, apart from households
served by Tribal governments. While
acknowledging a potential increase in
administrative burden, commenters
recommended that Treasury presume
other households or geographic areas, in
addition to QCTs, were
disproportionately impacted;
suggestions included all low- and
moderate-income households,
geographic areas designated as
Opportunity Zones, Difficult
Development Areas (DDAs), areas with
a certain amount of Real Estate
Advantage Program (REAP) recipients,
or use of eligibility criteria from the
Community Reinvestment Act. One
commenter generally recommended that
a clearer definition of
‘‘disproportionately impacted’’ should
be provided and that any definition
should include communities of color
and people of limited means. Another
recommended specific eligibility for
people that had recently interacted with
the criminal justice system. Many
commenters representing Tribal
governments and groups recommended
a presumption of eligibility for all Tribal
uses of funds, clarification that off
reservation members remained eligible,
and broad flexibility on use of funds.

Additionally, commenters noted that
some areas are technically eligible to be
QCTs but fall short because of the
aggregate population of eligible tracts.

One commenter noted that these areas
should be considered the same as QCTs
for the purpose of SLFRF funds. Some
commenters argued that rural counties
typically have few QCTs despite high
levels of poverty and disruption caused
by the COVID–19 pandemic. Other rural
commenters recommended that the
designation be by county rather than at
a more granular level, arguing that the
QCT designation is biased towards
urban areas and understates the harm
done to rural America. Many
commenters representing Tribal
governments supported the
presumption that services provided by
Tribal governments respond to
disproportionate impacts.

Treasury Response
Summary: While households residing
in QCTs or served by Tribal
governments were presumed to be
disproportionately impacted, Treasury
emphasizes that under the interim final
rule recipients could also identify other
households, populations, or geographic
areas that were disproportionately
impacted by the pandemic and provide
services to respond.

The final rule maintains the
presumptions identified in the interim
final rule, as well as recipients’ ability
to identify other impacted or
disproportionately impacted classes.

The final rule also allows recipients to
presume that low-income households
were disproportionately impacted, and
as discussed above, defines low- and
moderate-income. Finally, under the
final rule recipients may also presume
that households residing in the U.S.
territories or receiving services from
territorial governments were
disproportionately impacted.

Households presumed to be impacted:

Impacted households are those that
experienced a public health or negative
economic impact from the pandemic.

With regard to public health impacts,
recipients may presume that the general
public experienced public health
impacts from the pandemic for the
purposes of providing services for
COVID–19 mitigation and behavioral
health. In other words, recipients may
provide a wide range of enumerated
eligible uses in these categories to the
general public without further analysis.

As discussed in the introduction,
COVID–19 as a disease has directly
affected the health of tens of millions of
Americans, and efforts to prevent and
mitigate the spread of the disease are
needed and in use across the country.

Further, the stress of the pandemic and
resulting recession have affected nearly
all Americans. Accordingly, the final
rule presumes that the general public
are impacted by and eligible for services
to respond to COVID–19 mitigation and
prevention needs, as well as behavioral
health needs.

With regard to negative economic
impacts, as with the interim final rule,
under the final rule recipients may
presume that a household or population
that experienced unemployment,
experienced increased food or housing
insecurity, or is low- or moderateincome experienced negative economic impacts resulting from the pandemic.

The final rule’s definition of low- and
moderate-income, by providing
standard metrics based on widely
available data, is intended to simplify
administration for recipients.

Households presumed to be
disproportionately impacted:

Disproportionately impacted
households are those that experienced a
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3.A.5.a
Packet Pg. 128 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4348 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 32For instance, the American Community Survey
does not include all territories. U.S. Census Bureau,
Areas Published, https://www.census.gov/
programs-surveys/acs/geography-acs/areaspublished.html (last visited November 9, 2021). 33U.S. Department of Health and Human
Services, supra note 24.
34For instance, data from the American
Community Survey is based on geographical
location rather than Tribal membership. U.S.

Census Bureau, My Tribal Area, https://
www.census.gov/Tribal/Tribal_glossary.php.
35Lina Stoylar et. al., Challenges in the U.S.

Territories: COVID–19 and the Medicaid Financing
Cliff, Kaiser Family Foundation (May 18, 2021),
https://www.kff.org/coronavirus-covid-19/issuebrief/challenges-in-the-u-s-territories-covid-19-andthe-medicaid-financing-cliff/. disproportionate, or meaningfully more
severe, impact from the pandemic. As
discussed in the interim final rule, preexisting disparities in health and economic outcomes magnified the
impact of the COVID–19 public health
emergency on certain households and
communities. As with the interim final
rule, under the final rule recipients may
presume that households residing in
QCTs or receiving services provided by
Tribal governments were
disproportionately impacted by the
pandemic. In addition, under the final
rule recipients may presume that lowincome households were disproportionately impacted by the
pandemic. Finally, under the final rule
recipients may also presume that
households residing in the U.S.
territories or receiving services from
territorial governments were
disproportionately impacted.

Treasury notes that households
presumed to be disproportionately
impacted would also be presumptively
impacted, as these households have not
only experienced pandemic impacts but
have experienced disproportionate
pandemic impacts; as a result, these
households are presumptively eligible
for responsive services for both
impacted and disproportionately
impacted households.

Many different geographic, incomebased, or poverty-based presumptions could be used to designate
disproportionately impacted
populations. The combination of
permitting recipients to use QCTs, lowincome households, and services provided by Tribal or territorial
governments as presumptions balances
these varying methods. Specifically,
QCTs are a commonly used designation
of geographic areas based on low
incomes or high poverty rates of
households in the community; for
recipients providing geographically
targeted services, QCTs may provide a
simple metric with readily available
maps for use. However, Treasury
recognizes that QCTs do not capture all
underserved populations, including for
reasons noted by commenters. By
allowing recipients to also presume that
low-income households were
disproportionately impacted, the final
rule provides greater flexibility to serve
underserved households or
communities. Data on household
incomes is also readily available at
varying levels of geographic granularity
(e.g., Census Tracts, counties), again
permitting flexibility to adapt to local
circumstances and needs. Finally,
Treasury notes that, as discussed further
below, recipients may also identify
other households, populations, and
communities disproportionately
impacted by the pandemic, in addition
to those presumed to be
disproportionately impacted.

Additionally, Tribal and territorial
governments may face both
disproportionate impacts of the
pandemic and administrability
challenges with operationalizing the
income-based standard; therefore,
Treasury has presumed that services
provided by these governments respond
to disproportionate pandemic impacts.

Given a lack of regularly published data
on household incomes in most
territories,32 as well as a lack of poverty
guidelines developed for these
jurisdictions,33 it may be highly
challenging to assess disproportionate
impact in these communities according
to an income- or poverty-based
standard. Similarly, data on incomes in
Tribal communities are not readily
available.34 Finally, as described in the
sections on Public Health and Negative
Economic Impacts, Tribal communities
have faced particularly severe health
and economic impacts of the pandemic.

Similarly, available research suggests
that preexisting health and economic
disparities in the territories amplified
the impact of the pandemic on these
communities.35
Categorical Eligibility
Public Comment: Several commenters
suggested that the final rule permit
recipients to rely on a beneficiary’s
eligibility for other federal benefits
programs as an easily administrable
proxy for identifying a group or
population that experienced a negative
economic impact as a result of the
COVID–19 public health emergency
(i.e., categorical eligibility). In other
words, a recipient would determine that
individuals or households are eligible
for an SLFRF-funded program based on
the individual or household’s eligibility
in another program, typically another
federal benefit program. Commenters
noted that categorical eligibility is a
common policy in program
administration that can significantly
ease administrative burden on both
program administrators and
beneficiaries.

Treasury Response: Treasury agrees
that allowing recipients to identify
impacted and disproportionately
impacted beneficiaries based on their
eligibility for other programs with
similar income tests would ease
administrative burden. To the extent
that the other program’s eligibility
criteria align with a population or class
that experienced a negative economic
impact of the pandemic, this approach
is also consistent with the process
allowed under the final rule for
recipients to determine that a class has
experienced a negative economic
impact, and then document that an
individual receiving services is a
member of the class. For these reasons,
the final rule recognizes categorical
eligibility for the following programs
and populations:
• Impacted households. Treasury will
recognize a household as impacted if it
otherwise qualifies for any of the
following programs:

Æ Children’s Health Insurance
Program (CHIP)
Æ Childcare Subsidies through the
Child Care and Development Fund
(CCDF) Program
Æ Medicaid
Æ National Housing Trust Fund
(HTF), for affordable housing programs
only
Æ Home Investment Partnerships
Program (HOME), for affordable housing
programs only
• Disproportionately impacted
households. Treasury will recognize a
household as disproportionately
impacted if it otherwise qualifies for any
of the following programs:

Æ Temporary Assistance for Needy
Families (TANF)
Æ Supplemental Nutrition Assistance
Program (SNAP)
Æ Free and Reduced-Price Lunch
(NSLP) and/or School Breakfast (SBP)
programs
Æ Medicare Part D Low-income
Subsidies
Æ Supplemental Security Income
(SSI)
Æ Head Start and/or Early Head Start
Æ Special Supplemental Nutrition
Program for Women, Infants, and
Children (WIC)
Æ Section 8 Vouchers
Æ Low-Income Home Energy
Assistance Program (LIHEAP)
Æ Pell Grants
Æ For services to address educational
disparities, Treasury will recognize Title
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3.A.5.a
Packet Pg. 129 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4349 36Title I eligible schools means schools eligible to
receive services under section 1113 of Title I, Part
A of the Elementary and Secondary Education Act
of 1965, as amended (20 U.S.C. 6313), including
schools served under section 1113(b)(1)(C) of that
Act.

I eligible schools 36 as
disproportionately impacted and
responsive services that support the
school generally or support the whole
school as eligible
c. Standards for Identifying Other
Eligible Populations
Standards: Designating Other Impacted
Classes
Public Comment: Treasury received
multiple comments requesting
additional clarification about how
classes of impacted individuals may be
designated, as well as questions asking
whether recipients must demonstrate a
specific public health or negative
economic impact to each entity served
(e.g., each household receiving
assistance under a program). There were
several comments requesting that
specific geographic designations, like a
county or Impact Zone, be eligible to
use as a determining boundary.

Treasury Response: The interim final
rule allowed, and the final rule
maintains, the ability for recipients to
demonstrate a public health or negative
economic impact on a class and to
provide assistance to beneficiaries that
fall within that class. Consistent with
the scope of beneficiaries included in
sections 602(c)(1)(A) and 603(c)(1)(A) of
the Social Security Act, Treasury is
clarifying that a recipient may identify
such impacts for a class of households,
small businesses, or nonprofits. In such
cases, the recipient need only
demonstrate that the household, small
business, or nonprofit is within the
relevant class. For example, a recipient
could determine that restaurants in the
downtown area had generally
experienced a negative economic impact
and provide assistance to those small
businesses to respond. When providing
this assistance, the recipient would only
need to demonstrate that the small
businesses receiving assistance were
restaurants in the downtown area. The
recipient would not need to
demonstrate that each restaurant served
experienced its own negative economic
impact.

In identifying an impacted class and
responsive program, service, or capital
expenditure, recipients should consider
the relationship between the definition
of the class and proposed response.

Larger and less-specific classes are less
likely to have experienced similar
harms and thus the responses are less
likely to be responsive to the harms
identified. That is, as the group of
entities being served by a program has
a wider set of fact patterns, or the type
of entities, their circumstances, or their
pandemic experiences differ more
substantially, it may be more difficult to
determine that the class has actually
experienced the same or similar
negative economic impact and that the
response is appropriately tailored to
address that impact.

Standard: Designating Other
Disproportionately Impacted Classes
Summary of Interim Final Rule: As
noted above, the interim final rule
provided a broad set of enumerated
eligible uses of funds in
disproportionately impacted
communities, including to address preexisting disparities that contributed to more severe pandemic impacts in these
communities. The interim final rule
presumed that these services are eligible
uses when provided in a QCT, to
families and individuals living in QCTs,
or when these services are provided by
Tribal governments. Recipients may also
provide these services to ‘‘other
populations, households, or geographic
areas disproportionately impacted by
the pandemic’’ and, in identifying these
disproportionately impacted
communities, should be able to support
their determination that the pandemic
resulted in disproportionate public
health or economic outcomes to the
group identified.

Public Comment: A significant
number of commenters expressed
uncertainty regarding the process for
determining eligibility for
disproportionately impacted
communities beyond QCTs. A
commenter noted that a clearer
definition of ‘‘disproportionately
impacted’’ should be delineated and
that any definition should include
communities of color and people of
limited means. Some commenters
suggested a template or checklist to see
if an area meets the standard for
disproportionately impacted
communities outside of QCTs. Some
commenters stated that QCT and nonQCT beneficiaries should be treated the same.

Treasury Response: Under the interim
final rule, presuming eligibility for
services in QCTs, for populations living
in QCTs, and for Tribal governments
was intended to ease administrative
burden, providing a simple path for
recipients to offer services in
underserved communities, and is not an
exhaustive list of disproportionately
impacted communities. To further
clarify, the final rule codifies the
interpretive framework discussed above,
including presumptions of groups
disproportionately impacted, as well as
the ability to identify other
disproportionately impacted
populations, households, or geographies
(referred to here as disproportionately
impacted classes).

As discussed in the interim final rule,
in identifying other disproportionately
impacted classes, recipients should be
able to support their determination that
the pandemic resulted in
disproportionate public health or
economic outcomes to the specific
populations, households, or geographic
areas to be served. For example, the
interim final rule considered data
regarding the rate of COVID–19
infections and deaths in low-income
and socially vulnerable communities,
noting that these communities have
experienced the most severe health
impacts, compared to national averages.

Similarly, the interim final rule
considered the high concentration of
low-income workers performing
essential work, the reduced ability to
socially distance, and other pre-existing
public health challenges, all of which
correlate with more severe COVID–19
outcomes. The interim final rule also
considered the disproportionate
economic impacts of the pandemic,
citing, for example, the rate of job losses
among low-income persons as compared
to the general population. The interim
final rule then identified QCTs, a
common, readily accessible, and
geographically granular method of
identifying communities with a large
proportion of low-income residents, as
presumed to be disproportionately
impacted by the pandemic.

In other words, the interim final rule
identified disproportionately impacted
populations by assessing the impacts of
the pandemic and finding that some
populations experienced meaningfully
more severe impacts than the general
public. Similarly, to identify
disproportionately impacted classes,
recipients should compare the impacts
experienced by that class to the typical
or average impacts of the pandemic in
their local area, state, or nationally.

Recipients may identify classes of
households, communities, small
businesses, nonprofits, or populations
that have experienced a
disproportionate impact based on
academic research or government
research publications, through analysis
of their own data, or through analysis of
other existing data sources. To augment
their analysis, or when quantitative data
is not readily available, recipients may
also consider qualitative research and
sources like resident interviews or
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3.A.5.a
Packet Pg. 130 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4350 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 37Press Release, Centers for Disease Control and
Prevention, First Travel-related Case of 2019 Novel
Coronavirus Detected in United States (Jan. 21,
2020), https://www.cdc.gov/media/releases/2020/
p0121-novel-coronavirus-travel-case.html. 38Centers for Disease Control and Prevention, COVID Data Tracker: Trends in Number of COVID–
19 Cases and Deaths in the US Reported to CDC,
by State/Territory, https://covid.cdc.gov/covid-datatracker/#trends_dailytrendscases (last visited December 7, 2021).
39 Id.
40Centers for Disease Control and Prevention,
COVID Data Tracker, http://www.covid.cdc.gov/
covid-data-tracker/#datatracker-home (last visited
December 31, 2021).
41Centers for Disease Control and Prevention,
COVID Data Tracker: COVID–19 Vaccinations in the
United States, https://covid.cdc.gov/covid-datatracker/#vaccinations (last visited December 7, 2021).
42 Id.
43Columbus, Ohio Recovery Plan, https://
www.columbus.gov/recovery/.
44Luzerne County, Pennsylvania Recovery Plan,
https://www.luzernecounty.org/DocumentCenter/
View/26304/Final-Interim-Recovery-PlanPerformance-Report-83121. 45This includes implementing mitigation
strategies consistent with the Centers for Disease
Control and Prevention’s (CDC) Guidance for
COVID–19 Prevention in K–12 Schools (November
5, 2021), available at https://www.cdc.gov/
coronavirus/2019-ncov/community/schoolschildcare/k-12-guidance.html. feedback from relevant state and local
agencies, such as public health
departments or social services
departments. In both cases, recipients
should consider the quality of the
research, data, and applicability of
analysis to their determination.

In designing a program or service that
responds to a disproportionately
impacted class, a recipient must first
identify the impact and then identify an
appropriate response. To assess
disproportionate impact, recipients
should rely on data or research that
measures the public health or negative
economic impact. An assessment of the
effects of a response (e.g., survey data on
levels of resident support for various
potential responses) is not a substitute
for an assessment of the impact
experienced by a particular class. Data
about the appropriateness or desirability
of a response may be used to assess the
reasonableness of a response, once an
impact or disproportionate impact has
been identified but should not be the
basis for assessing impact.

2. Public Health
Background
On January 21, 2020, the Centers for
Disease Control and Prevention (CDC)
identified the first case of novel
coronavirus in the United States.37
Since that time, and through present
day, the United States has faced
numerous waves of the virus that have
brought acute strain on health care and
public health systems. At various points
in the pandemic, hospitals and
emergency medical services have seen
significant influxes of patients; response
personnel have faced shortages of
personal protective equipment; testing
for the virus has been scarce; and
congregate living facilities like nursing
homes have seen rapid spread.

Since the initial wave of the COVID–
19 pandemic, the United States has
faced several additional major waves
that continued to impact communities
and stretch public health services. The
summer 2020 wave impacted
communities in the south and
southwest. As the weather turned colder
and people spent more time indoors, a
wave throughout fall and winter 2020
impacted communities in almost every
region of the country as the virus
reached a point of uncontrolled spread
and over 3,000 people died per day due
to COVID–19.38
In December 2020, the Food and Drug
Administration (FDA) authorized
COVID–19 vaccines for emergency use,
and soon thereafter, mass vaccination in
the United States began. At the time of
the interim final rule publication in May
2021, the number of daily new
infections was steeply declining as
rapid vaccination campaigns progressed
across the country. By summer 2021,
COVID–19 cases had fallen to their
lowest level since early months of the
pandemic, when testing was scarce.

However, throughout late summer and
early fall, the Delta variant, a more
infectious and transmittable variant of
the SARS–CoV–2 virus, sparked yet
another surge. From June to early
September, the seven-day moving
average of reported cases rose from
12,000 to 165,000.39
As of December 2021, COVID–19 in
total has infected over 50 million and
killed over 800,000 Americans.40
Preventing and mitigating the spread of
COVID–19 continues to require a major
public health response from federal,
state, local, and Tribal governments.

First, state, local, and Tribal
governments across the country have
mobilized to support the national
vaccination campaign. As of December
2021, more than 80 percent of adults
have received at least one dose, with
more than 470 million total doses
administered.41 Additionally, more than
15 million children over the age of 12
have received at least one dose of the
vaccine and over 47 million people have
received a booster dose.42 Vaccines for
younger children, ages 5 through 11,
have been approved and are reaching
communities and families across the
country. As new variants continue to
emerge globally, the national effort to
administer vaccinations and other
COVID–19 mitigation strategies will be
a critical component of the public
health response.

In early reporting on uses of SLFRF
funds, recipients have indicated that
they plan to put funds to immediate use
to support continued vaccination
campaigns. For example, one recipient
has indicated that it plans to use SLFRF
funds to support a vaccine incentive
program, providing $100 gift cards to
residents at community vaccination
clinics. The program aimed to target
communities with high public health
needs.43 Another recipient reported that
it is partnering with multiple agencies,
organizations, and providers to
distribute COVID–19 vaccinations to
homebound residents in assisted living
facilities.44
State, local, and Tribal governments
have also continued to execute other
aspects of a wide-ranging public health
response, including increasing access to
COVID–19 testing and rapid at-home
tests, contact tracing, support for
individuals in isolation or quarantine,
enforcement of public health orders,
new public communication efforts,
public health surveillance (e.g.,
monitoring case trends and genomic
sequencing for variants), enhancement
to health care capacity through
alternative care facilities, and
enhancement of public health data
systems to meet new demands or scaling
needs.

State, local, and Tribal governments
have also supported major efforts to
prevent COVID–19 spread through
safety measures at key settings like
nursing homes, schools, congregate
living settings, dense worksites,
incarceration settings, and in other
public facilities. This has included, for
example, implementing infection
prevention measures or making
ventilation improvements.

In particular, state, local, and Tribal
governments have mounted significant
efforts to safely reopen schools. A key
factor in school reopening is the ability
to implement COVID–19 mitigation
strategies such as providing masks and
other hygiene resources, improving airquality and ventilation, increasing outdoor learning and eating spaces,
testing and contact tracing protocols,
and a number of other measures.45 For
example, one recipient described plans
to use SLFRF funds to further invest in
school health resources that were
critical components of school reopening
and reducing the spread of COVID–19 in
schools. Those investments include the
increasing school nurses and social
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3.A.5.a
Packet Pg. 131 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4351 46Nirmita Panchal et al., The Implications of
COVID–19 for Mental Health and Substance Abuse
(Feb. 10, 2021), https://www.kff.org/coronavirus
covid-19/issue-brief/the-implications-of-covid-19-
for-mental-health-and-substance-use/#:∼:text=
Older%20adults%20are%20also%20 more,
prior%20to%20the%20current%20crisis; Mark E´.

Czeisler et al., Mental Health, Substance Abuse, and
Suicidal Ideation During COVID–19 Pandemic—
United States, June 24–30 2020, Morb. Mortal.

Wkly. Rep. 69(32):1049–57 (Aug. 14, 2020), https://
www.cdc.gov/mmwr/volumes/69/wr/
mm6932a1.htm.
47 Id. 48Rebecca T. Leeb et al., Mental Health-Related
Emergency Department Visits Among Children
Aged <18 Years During the COVID Pandemic—
United States, January 1–October 17, 2020, Morb.

Mortal. Wkly. Rep. 69(45):1675–80 (Nov. 13, 2020),
https://www.cdc.gov/mmwr/volumes/69/wr/
mm6945a3.htm.
49Centers for Disease Prevention and Control,
National Center for Health Statistics, Provisional
Drug Overdose Death Counts, https://www.cdc.gov/
nchs/nvss/vsrr/drug-overdose-data.htm (last visited
May 8 December 6, 2021).
50Panchal, supra note 46; Mark E´. Czeisler et al.,
supra note 46.
51The White House, FACT SHEET: More Details
on the Biden-Harris Administration’s Investments
in Community Violence Interventions (April 7,
2021), https://www.whitehouse.gov/briefing-room/
statements-releases/2021/04/07/fact-sheet-moredetails-on-the-biden-harris-administrationsinvestments-in-community-violence-interventions/. 52Federal Bureau of Investigation, FBI Releases
2020 Crime Statistics (September 27, 2021) https://
www.fbi.gov/news/pressrel/press-releases/fbireleases-2020-crime-statistics. 53 Id.
54 Id.
55The Educational Fund to Stop Gun Violence,
Community Gun Violence, https://efsgv.org/learn/
type-of-gun-violence/community-gun-violence/ (last
visited November 9, 2021).
56 Giffords Law Center, Healing Communities in
Crisis: Lifesaving Solutions to the Urban Gun
Violence Epidemic (March 2016), https://giffords.
org/wp-content/uploads/2019/01/HealingCommunities-in-Crisis.pdf. 57St. Louis, MO Recovery Plan, https://
www.stlouis-mo.gov/government/recovery/covid-19/
arpa/plan/.
58Los Angeles County, CA Recovery Plan, http://
file.lacounty.gov/SDSInter/bos/supdocs/
160391.pdf.
59Office of the White House, National Strategy for
the COVID–19 Response and Pandemic
Preparedness (Jan. 21, 2021), https://
www.whitehouse.gov/wp-content/uploads/2021/01/
National-Strategy-for-the-COVID-19-Response-andPandemic-Preparedness.pdf. 60 In a study of 13 states from October to
December 2020, the CDC found that Hispanic or
Latino and Native American or Alaska Native
individuals were 1.7 times more likely to visit an
emergency room for COVID–19 than White
individuals, and Black individuals were 1.4 times
more likely to do so than White individuals. See
Sebastian D. Romano et al., Trends in Racial and
Ethnic Disparities in COVID–19 Hospitalizations,
by Region—United States, March–December 2020,
MMWR Morb Mortal Wkly Rep 2021, 70:560–565
(Apr. 16, 2021), https://www.cdc.gov/mmwr/
volumes/70/wr/mm7015e2.htm?s_cid=mm7015e2_
w.
61Centers for Disease Control and Prevention,
COVID Data Tracker: Trends in COVID–19 Cases
and Deaths in the United States, by County-level
Population Factors, https://covid.cdc.gov/coviddata-tracker/#pop-factors_totaldeaths (last visited December 7, 2021).
62The CDC’s Social Vulnerability Index includes
fifteen variables measuring social vulnerability,
including unemployment, poverty, education
levels, single-parent households, disability status,
non-English speaking households, crowded
housing, and transportation access.

Centers for Disease Control and Prevention,
COVID Data Tracker: Trends in COVID–19 Cases
and Deaths in the United States, by Social
Continued
workers, improved ventilation systems,
and other health and safety measures.

The need for public health measures
to respond to COVID–19 will continue
moving forward. This includes the
continuation of vaccination campaigns
for the general public, booster doses,
and children. This also includes
monitoring the spread of COVID–19
variants, understanding the impact of
these variants, developing approaches to
respond, and monitoring global COVID–
19 trends. Finally, the long-term health
impacts of COVID–19 will continue to
require a public health response,
including medical services for
individuals with ‘‘long COVID,’’ and
research to understand how COVID–19
impacts future health needs and raises
risks for the tens of millions of
Americans who have been infected.

The COVID–19 pandemic also
negatively impacted other areas of
public health, particularly mental health
and substance use. In January 2021, over
40 percent of American adults reported
symptoms of depression or anxiety, up
from 11 percent in the first half of
2019.46 The mental health impacts of
the pandemic have been particularly
acute for adults ages 18 to 24, racial and
ethnic minorities, caregivers for adults,
and essential workers, with all reporting
significantly higher rates of considering
suicide.47 The proportion of children’s
emergency department visits related to
mental health has also risen
noticeably.48 Similarly, rates of
substance use and overdose deaths have
spiked: Preliminary data from the CDC
show a nearly 30 percent increase in
drug overdose mortality from April 2020
to April 2021, bringing the estimated
overdose death toll for a 12-month
period over 100,000 for the first time
ever.49 The CDC also found that 13
percent of adults started or increased
substance use to cope with stress related
to COVID–19 and 26 percent reported
having symptoms of trauma- and
stressor-related disorder (TRSD) related
to the pandemic.50
Another public health challenge
exacerbated by the pandemic was
violent crime and gun violence, which
increased during the pandemic and has
disproportionately impacted lowincome communities.51 According to the Federal Bureau of Investigation
(FBI), although the property crime rate
fell 8 percent in 2020, the violent crime
rate increased 6 percent in 2020
compared to 2019 data.52 In particular,
the estimated number of aggravated
assault offenses rose 12 percent, while
murder and manslaughter increased 30
percent from 2019 to 2020.53 The
proportion of homicides committed
with firearms rose from 73 percent in
2019 to 76 percent in 2020.54 Exposure
to violence can create serious short-term
and long-term harmful effects to health
and development, and repeated
exposure to violence may be connected
to negative health outcomes.55
Addressing community violence as a
public health issue may help prevent
and even reduce additional harm to
individuals, households, and
communities.56
Many communities are using SLFRF
funds to invest in holistic approaches in
violence prevention that are rooted in
targeted outreach and addressing root
causes. For example, the City of St.

Louis is planning to invest in expanding
a ‘‘community responder’’ model
designed to provide clinical help and to
divert non-violent calls away from the
police department. Additionally, the
city will expand access to mental health
services, allowing residents to seek
support at city recreation centers,
libraries, and other public spaces.57
Similarly, Los Angeles County will
further invest in its ‘‘Care First, Jails
Last’’ program which seeks to replace
‘‘arrest and incarceration’’ responses
with health interventions.58
While the pandemic affected
communities across the country, it
disproportionately impacted some
demographic groups and exacerbated
health inequities along racial, ethnic,
and socioeconomic lines.59 The CDC
has found that racial and ethnic
minorities are at increased risk for
infection, hospitalization, and death
from COVID–19, with Hispanic or
Latino and Native American or Alaska
Native patients at highest risk.60
Similarly, low-income and socially
vulnerable communities have seen the
most severe health impacts. For
example, counties with high poverty
rates also have the highest rates of
infections and deaths, with 308 deaths
per 100,000 compared to the U.S.
average of 238 deaths per 100,000, as of
December 2021.61 Counties with high
social vulnerability, as measured by
factors such as poverty and educational
attainment, have also fared more poorly
than the national average, with 325
deaths per 100,000 as of December
2021.62 Over the course of the
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3.A.5.a
Packet Pg. 132 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4352 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations Vulnerability Index, https://covid.cdc.gov/coviddata-tracker/#pop-factors_totaldeaths (last visited December 7, 2021).
63Centers for Disease Control and Prevention,
Risk for COVID–19 Infection, Hospitalization, and
Death By Race/Ethnicity, https://www.cdc.gov/
coronavirus/2019-ncov/covid-data/investigationsdiscovery/hospitalization-death-by-raceethnicity.html (last visited December 7, 2021). 64See, e.g., Centers for Disease Control and
Prevention, Risk of Severe Illness or Death from
COVID–19 (Dec. 10, 2020), https://www.cdc.gov/
coronavirus/2019-ncov/community/health-equity/
racial-ethnic-disparities/disparities-illness.html
(last visited December 7, 2021).
65Milena Almagro et al., Racial Disparities in
Frontline Workers and Housing Crowding During
COVID–19: Evidence from Geolocation Data (Sept.
22, 2020), NYU Stern School of Business
(forthcoming), available at https://papers.ssrn.com/
sol3/papers.cfm?abstract_id=3695249; Grace
McCormack et al., Economic Vulnerability of
Households with Essential Workers, JAMA
324(4):388–90 (2020), available at https://jamanet
work.com/journals/jama/fullarticle/2767630.
66See, e.g., Joseph G. Courtney et al., Decreases
in Young Children Who Received Blood Lead Level
Testing During COVID–19—34 Jurisdictions,
January–May 2020, Morb. Mort. Wkly. Rep.
70(5):155–61 (Feb. 5, 2021), https://www.cdc.gov/
mmwr/volumes/70/wr/mm7005a2.htm; Emily A.

Benfer & Lindsay F. Wiley, Health Justice Strategies
to Combat COVID–19: Protecting Vulnerable
Communities During a Pandemic, Health Affairs
Blog (Mar. 19, 2020), https://www.healthaffairs.org/
do/10.1377/hblog20200319.757883/full/.
67See, e.g., Centers for Disease Control and
Prevention, supra note 62; Benfer & Wiley, supra
note 66; Nathaniel M. Lewis et al., Disparities in
COVID–19 Incidence, Hospitalizations, and Testing,
by Area-Level Deprivation—Utah, March 3–July 9,
2020, Morb. Mortal. Wkly. Rep. 69(38):1369–73
(Sept. 25, 2020), https://www.cdc.gov/mmwr/
volumes/69/wr/mm6938a4.htm.
68 Generally, funding uses eligible under CRF as
a response to the direct public health impacts of
COVID–19 will continue to be eligible under the
ARPA, including those not explicitly listed in the
final rule, with the following two exceptions: (1)
The standard for eligibility of public health and
safety payrolls has been updated (see section Public
Sector Capacity and Workforce in General
Provisions: Other) and (2) expenses related to the
issuance of tax-anticipation notes are no longer an
eligible funding use (see section Restrictions on
Use: Debt Service).
pandemic, Native Americans have
experienced more than one and a half
times the rate of COVID–19 infections,
more than triple the rate of
hospitalizations, and more than double
the death rate compared to White
Americans.63 Low-income and minority
communities also exhibit higher rates of
pre-existing conditions that may
contribute to an increased risk of
COVID–19 mortality.64 In addition,
individuals living in low-income
communities may have had more
limited ability to socially distance or to
self-isolate when ill, resulting in faster
spread of the virus, and were overrepresented among essential workers, who face greater risk of exposure.65
Social distancing measures in
response to the pandemic may have also
exacerbated pre-existing public health
challenges. For example, for children
living in homes with lead paint,
spending substantially more time at
home raises the risk of developing
elevated blood lead levels, while
screenings for elevated blood lead levels
declined during the pandemic.66 The
combination of these underlying social
and health vulnerabilities may have
contributed to more severe public health
outcomes of the pandemic within these
communities, resulting in an
exacerbation of pre-existing disparities
in health outcomes.67
Summary of the Interim Final Rule
Approach to Public Health
Summary: As discussed above, the
interim final rule provided flexibility for
recipients to pursue a wide range of
eligible uses to ‘‘respond to’’ the
COVID–19 public health emergency.

Uses of funds to ‘‘respond to’’ the public
health emergency address the SARSCoV–2 virus itself, support efforts to prevent or decrease spread of the virus,
and address other impacts of the
pandemic on public health. The interim
final rule implemented these provisions
by identifying a non-exhaustive list of
programs or services that may be funded
as responding to COVID–19
(‘‘enumerated eligible uses’’), along with
considerations for evaluating other
potential uses of funds not explicitly
listed. Enumerated eligible uses are
discussed below. For guidance on how
to determine whether a particular use is
allowable, beyond those enumerated,
see section Standards: Identifying a
Public Health Impact.

Enumerated eligible uses under this
section built and expanded upon
permissible expenditures under the
Coronavirus Relief Fund; for clarity, the
interim final rule expressly listed as
eligible uses the uses permissible under
the Coronavirus Relief Fund, with
minor exceptions.68 The interim final
rule also recognized that the nature of
the COVID–19 public health emergency,
and responsive policy measures,
programs, and services, had changed
over time and is expected to continue
evolving.

The interim final rule categorized
enumerated eligible uses to respond to
the public health emergency into several
categories: (1) COVID–19 mitigation and
prevention, (2) medical expenses, (3)
behavioral health care, (4) public health
and safety staff, (5) expenses to improve
the design and execution of health and
public health programs, and (6) eligible
uses to address disparities in public
health outcomes. For each category in
turn, this section describes public
comments received and Treasury’s
responses, as well as comments received
proposing additional enumerated
eligible uses.

Reorganizations and CrossReferences: In some cases, enumerated eligible uses included in the interim
final rule under responding to the
public health emergency have been recategorized in the organization of the final rule to enhance clarity. For
discussion of eligible uses for public
health and safety staff and to improve
the design and execution of public
health programs, please see section
Public Sector Capacity and Workforce in
General Provisions: Other. For
discussion of eligible uses to address
disparities in public health outcomes,
please see section Assistance to
Households in Negative Economic
Impacts.

Conversely, discussion of eligible
assistance to small businesses and
nonprofits to respond to public health
impacts has been moved from
Assistance to Small Businesses and
Assistance to Nonprofits in Negative
Economic Impacts to this section. This
change is consistent with the interim
final rule, which provides that
appropriate responses to address the
public health impacts of COVID–19 may
be provided to any type of entity.
a. COVID–19 Mitigation and Prevention
COVID–19 public health response and
mitigation tactics. Recognizing the
broad range of services and
programming needed to contain
COVID–19, the interim final rule
provided an extensive list of
enumerated eligible uses to prevent and
mitigate COVID–19 and made clear that
the public health response to the virus
is expected to continue to evolve over
time, necessitating different uses of
funds.

Enumerated eligible uses of funds in
this category included: Vaccination
programs; medical care; testing; contact
tracing; support for isolation or
quarantine; supports for vulnerable
populations to access medical or public
health services; public health
surveillance (e.g., monitoring case
trends, genomic sequencing for
variants); enforcement of public health
orders; public communication efforts;
enhancement to health care capacity,
including through alternative care
facilities; purchases of personal
protective equipment; support for
prevention, mitigation, or other services
in congregate living facilities (e.g.,
nursing homes, incarceration settings,
homeless shelters, group living
facilities) and other key settings like
schools; ventilation improvements in
congregate settings, health care settings,
or other key locations; enhancement of
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3.A.5.a
Packet Pg. 133 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4353 69See Centers for Disease Control and Prevention,
COVID Data Tracker, https://covid.cdc.gov/coviddata-tracker/#trends_dailycases (last visited December 7, 2021).
70See Centers for Disease Control and Prevention,
COVID–19, https://www.cdc.gov/coronavirus/2019-
ncov/index.html (last visited November 8, 2021).
71See § 35.6(b); Coronavirus State and Local
Fiscal Recovery Funds, 86 FR at 26786.
72Centers for Disease Control and Prevention,
COVID Data Tracker: COVID–19 Vaccinations in the
United States, https://covid.cdc.gov/covid-datatracker/#vaccinations (last visited October 18, 2021).
73U.S. Food and Drug Administration,
Coronavirus (COVID–19) Update: FDA Takes
Additional Actions on the Use of a Booster Dose for
COVID–19 Vaccines, https://www.fda.gov/newsevents/press-announcements/fda-authorizes-pfizerbiontech-covid-19-vaccine-emergency-use-children5-through-11-years-age (last visited November 8, 2021).
74U.S. Food and Drug Administration, FDA
Authorizes Pfizer-BioNTech COVID–19 Vaccine for
Emergency Use in Children 5 through 11 Years of
Age, https://www.fda.gov/news-events/pressannouncements/fda-authorizes-pfizer-biontechcovid-19-vaccine-emergency-use-children-5- through-11-years-age (last visited November 8,
2021).
public health data systems; other public
health responses; and capital
investments in public facilities to meet
pandemic operational needs, such as
physical plant improvements to public
hospitals and health clinics or
adaptations to public buildings to
implement COVID–19 mitigation tactics.

These enumerated uses are consistent
with guidance from public health
authorities, including the CDC.

Public Comment: Many commenters
were supportive of expansive
enumerated eligible uses for mitigating
and preventing COVID–19, noting the
wide range of activities that
governments may undertake and the
continued changing landscape of
pandemic response. Some commenters
requested that Treasury engage in
ongoing consideration of and
consultation on evolving public health
needs and resulting eligible expenses.

Some commenters noted that their
jurisdiction does not have an official
public health program, for example
smaller jurisdictions or those that do not
have a health department, and requested
clarification on whether their public
health expenses would still be eligible
in compliance with program rules.

Treasury Response: In the final rule,
Treasury is maintaining an expansive
list of enumerated eligible uses to
mitigate and prevent COVID–19, given
the wide-ranging activities that
governments may take to further these
goals, including ‘‘other public health
responses.’’ Note that the final rule
discusses several of these enumerated
uses in more detail below.

Treasury is further clarifying that
when providing COVID–19 prevention
and mitigation services, recipients can
identify the impacted population as the
general public. Treasury presumes that
all enumerated eligible uses for
programs and services, including
COVID–19 mitigation and prevention
programs and services, are reasonably
proportional responses to the harm
identified unless a response is grossly
disproportionate to the type or extent of
harm experienced. Note that capital
expenditures are not considered
‘‘programs and services’’ and are not
presumed to be reasonably proportional
responses to an identified harm except
as provided in section Capital
Expenditures in General Provisions:

Other. In other words, recipients can
provide any COVID–19 prevention or
mitigation service to members of the
general public without any further
analysis of impacts of the pandemic on
those individuals and whether the
service is responsive.

This approach gives recipient
governments an extensive set of eligible
uses that can adapt to local needs, as
well as evolving response needs and
developments in understanding of
transmission of COVID–19. Treasury
emphasizes how the enumerated
eligible uses can adapt to changing
circumstances. For example, when the
interim final rule was released, national
daily COVID–19 cases were at relatively
low levels and declining; 69 as the Delta
variant spread and cases peaked in
many areas of the country, particularly
those with low vaccination rates,
government response needs and tactics
evolved, and the SLFRF funds provided
the ability to quickly and nimbly adapt
to new public health needs. Treasury
also notes that funds may be used to
support compliance with and
implementation of COVID–19 safety
requirements, including vaccination
requirements, testing programs, or other
required practices.

Recipient governments do not need to
have an official health or public health
program in order to utilize these eligible
uses; any recipient can pursue these
eligible uses, though Treasury
recommends consulting with health and
public health professionals to support
effective implementation.

The CDC has provided
recommendations and guidelines to
help mitigate and prevent COVID–19.

The interim final rule and final rule
help support recipients in stopping the
spread of COVID–19 through these
recommendations and guidelines.70 The
final rule reflects changing
circumstances of COVID–19 and
provides a broad range of permissible
uses for mitigating and preventing the
spread of the disease, in a manner
consistent with CDC guidelines and
recommendations.

The purpose of the SLFRF funds is to
mitigate the fiscal effects stemming from
the COVID–19 public health emergency,
including by supporting efforts to stop
the spread of the virus. The interim final
rule and final rule implement this
objective by, in part, providing that
recipients may use SLFRF funds for
COVID–19 mitigation and prevention.71
A program or service that imposes
conditions on participation in or
acceptance of the service that would
undermine efforts to stop the spread of
COVID–19 or discourage compliance
with recommendations and guidelines
in CDC guidance for stopping the spread
of COVID–19 is not a permissible use of
funds. In other words, recipients may
not use funds for a program that
undermines practices included in the
CDC’s guidelines and recommendations
for stopping the spread of COVID–19.

This includes programs that impose a
condition to discourage compliance
with practices in line with CDC
guidance (e.g., paying off fines to
businesses incurred for violation of
COVID–19 vaccination or safety
requirements), as well as programs that
require households, businesses,
nonprofits, or other entities not to use
practices in line with CDC guidance as
a condition of receiving funds (e.g.,
requiring that businesses abstain from
requiring mask use or employee
vaccination as a condition of receiving
SLFRF funds).

Vaccination programs and vaccine
incentives. At the time of the interim
final rule release, many vaccination
programs were using mass vaccination
tactics to rapidly reach Americans en
masse for first vaccine doses.72 Since
that time, the FDA has authorized
booster vaccine doses for certain groups
and certain vaccines and has also
authorized vaccines for youths 73 74 The
inclusion of ‘‘vaccination programs’’ as
an eligible use allows for adaptation as
the needs of programs change or new
groups become eligible for different
types of vaccinations.

Public Comment: Since the release of
the interim final rule, many recipient
governments have also requested
clarification on whether vaccine
incentives are a permissible use of
funds.

Treasury Response: Treasury issued
guidance clarifying that ‘‘[vaccine]
programs that provide incentives
reasonably expected to increase the
number of people who choose to get
vaccinated, or that motivate people to
get vaccinated sooner than they
otherwise would have, are an allowable
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3.A.5.a
Packet Pg. 134 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4354 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 75Coronavirus State and Local Fiscal Recovery
Funds, Frequently Asked Questions, as of July 19,
2021; https://home.treasury.gov/system/files/136/
SLFRPFAQ.pdf. Note that programs may provide
incentives to individuals who have already received
a vaccination if the incentive is reasonably expected
to increase the number of people who choose to get
vaccinated or motivate people to get vaccinated
sooner and the costs are reasonably proportional to
the expected public health benefit.
use of funds so long as such costs are
reasonably proportional to the expected
public health benefit.’’ 75 This use of
funds remains permissible under the
final rule.

Capital Expenditures
Public Comment: Many commenters
requested clarification around the types
and scope of permissible capital
investments in public facilities to meet
pandemic operational needs; ventilation
improvements in congregate settings,
health care settings, or other key
locations; and whether support for
prevention and mitigation in congregate
facilities could include facilities
renovations, improvements, or
construction of new facilities, or if the
facilities must solely be used for
COVID–19 response.

Treasury Response: For clarity,
Treasury has addressed the eligibility
standard for capital expenditures, or
investments in property, facilities, or
equipment, in one section of this
Supplementary Information; see section
Capital Expenditures in General
Provisions: Other. In recognition of the
importance of capital expenditures in
the COVID–19 public health response,
Treasury enumerates that the following
projects are examples of eligible capital
expenditures, as long as they meet the
standards for capital expenditures in
section Capital Expenditures in General
Provisions: Other:
• Improvements or construction of
COVID–19 testing sites and laboratories,
and acquisition of related equipment;
• Improvements or construction of
COVID–19 vaccination sites;
• Improvements or construction of
medical facilities generally dedicated to
COVID–19 treatment and mitigation
(e.g., emergency rooms, intensive care
units, telemedicine capabilities for
COVID–19 related treatment);
• Expenses of establishing temporary
medical facilities and other measures to
increase COVID–19 treatment capacity,
including related construction costs;
• Acquisition of equipment for
COVID–19 prevention and treatment,
including ventilators, ambulances, and
other medical or emergency services
equipment;
• Improvements to or construction of
emergency operations centers and
acquisition of emergency response
equipment (e.g., emergency response
radio systems);
• Installation and improvements of
ventilation systems;
• Costs of establishing public health
data systems, including technology
infrastructure;
• Adaptations to congregate living
facilities, including skilled nursing
facilities, other long-term care facilities,
incarceration settings, homeless
shelters, residential foster care facilities,
residential behavioral health treatment,
and other group living facilities, as well
as public facilities and schools
(excluding construction of new facilities
for the purpose of mitigating spread of
COVID–19 in the facility); and
• Mitigation measures in small
businesses, nonprofits, and impacted
industries (e.g., developing outdoor
spaces).

Other clarifications on COVID–19
mitigation: Medical care, supports for
vulnerable populations, data systems,
carceral settings. Based on public
comments and questions received from
recipients following the interim final
rule, Treasury is making several further
clarifications on enumerated eligible
uses in this category.

Public Comment: Several commenters
requested clarification on eligible uses
of funds for medical care; Treasury
addresses those comments in the section
Medical Expenses below.

Public Comment: Recipients posed
questions on the type and scope of
activities eligible as ‘‘supports for
vulnerable populations to access
medical or public health services.’’
Treasury Response: Enumerated
eligible uses should be considered in
the context of the eligible use category
or section where they appear; in this
case, ‘‘supports for vulnerable
populations to access medical or public
health services’’ appears in the section
COVID–19 Mitigation and Prevention.

As such, these eligible uses should help
vulnerable or high-risk populations
access services that mitigate COVID–19,
for example, transportation assistance to
reach vaccination sites, mobile
vaccination or testing programs, or onsite vaccination or testing services for homebound individuals, those in group
homes, or similar settings.

Public Comment: Some commenters
asked whether ‘‘enhancement of public
health data systems’’ could include
investments in software, databases, and
other information technology resources
that support responses to the COVID–19
public health emergency but also
provide benefits for other use cases and
long-term capacity of public health
departments and systems.

Treasury Response: These are
permissible uses of funds under the
interim final rule and remain eligible
under the final rule.

Assistance to Businesses and Nonprofits
To Implement COVID–19 Mitigation
Strategies
Background: As detailed above,
Treasury received many public
comments describing uncertainty about
which eligible use category should be
used to assess different potential uses of
funds. As a result, Treasury has recategorized some uses of funds in the final rule to provide greater clarity,
consistent with the principle that uses
of funds should be assessed based on
their intended beneficiary. For example,
COVID–19 mitigation and prevention
serves the general public or specific
populations within the public.

However, in the interim final rule,
assistance to small businesses,
nonprofits, and impacted industries to
implement COVID–19 mitigation and
prevention strategies was categorized in
the respective sections within Negative
Economic Impacts. The final rule
consolidates all COVID–19 mitigation
and prevention within Public Health.

Public Comment: Treasury has
received multiple comments and
questions about which eligible use
permits the recipient to provide
assistance to businesses and nonprofits
to address the public health impacts of
COVID–19.

Treasury Response: In the final rule,
these services have been re-categorized
under COVID–19 mitigation and
prevention to reflect the fact that this
assistance responds to public health
impacts of the pandemic rather than the
negative economic impacts to a small
business, nonprofit, or impacted
industry. When providing COVID–19
mitigation and prevention services,
recipients can identify the impacted
entity as small businesses, nonprofits, or
businesses in impacted industries in
general. As with all enumerated eligible
uses, recipients may presume that all
COVID–19 mitigation and prevention
programs and services are reasonably
proportional responses to the harm
identified unless a response is grossly
disproportionate to the type or extent of
harm experienced. Note that capital
expenditures are not considered
‘‘programs and services’’ and are not
presumed to be reasonably proportional
responses to an identified harm except
as provided in section Capital
Expenditures in General Provisions:

Other. In other words, recipients can
provide any COVID–19 prevention or
mitigation service to small businesses,
nonprofits, and businesses in impacted
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3.A.5.a
Packet Pg. 135 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4355 76See Centers for Disease Control and Prevention,
Participate in Outdoor and Indoor Activities,
https://www.cdc.gov/coronavirus/2019-ncov/dailylife-coping/outdoor-activities.html (last visited November 8, 2021).
77Hotlines or warmlines, crisis intervention,
overdose prevention, infectious disease prevention,
and services or outreach to promote access to
physical or behavioral health primary care and
preventative medicine.
industries without any further analysis
of impacts of the pandemic on those
entities and whether the service is
responsive.

In some cases, this means that an
entity not otherwise eligible to receive
assistance to respond to negative
economic impacts of the pandemic, for
example an entity that did not
experience a negative economic impact,
may still be eligible to receive assistance
under this category for COVID–19
mitigation and prevention services.

Uses of funds can include loans,
grants, or in-kind assistance to small
businesses, nonprofits, or other entities
to implement COVID–19 prevention or
mitigation tactics, such as vaccination;
testing; contact tracing programs;
physical plant changes to enable greater
use of outdoor spaces or ventilation
improvements; enhanced cleaning
efforts; and barriers or partitions. For
example, this would include assistance
to a restaurant to establish an outdoor
patio, given evidence showing much
lower risk of COVID–19 transmission
outdoors.76 Uses of funds can also
include aid to travel, tourism,
hospitality, and other impacted
industries to implement COVID–19
mitigation and prevention measures to
enable safe reopening, for example,
vaccination or testing programs,
improvements to ventilation, physical
barriers or partitions, signage to
facilitate social distancing, provision of
masks or personal protective equipment,
or consultation with infection
prevention professionals to develop safe
reopening plans.

Recipients providing assistance to
small businesses, nonprofits, or
impacted industries that includes
capital expenditures (i.e., expenditures
on property, facilities, or equipment)
should also review the section Capital
Expenditures in General Provisions:

Other, which describes eligibility
standards for these expenditures.

Recipients providing assistances in the
form of loans should review the section
Treatment of Loans Made with SLFRF
Funds in General Provisions: Other.

Recipients should also be aware of the
difference between beneficiaries of
assistance and subrecipients when
working with small businesses,
nonprofits, or impacted industries. As
noted above, Treasury presumes that the
general public, as well as small
businesses, nonprofits, and impacted
industries in general, has been impacted
by the COVID–19 disease itself and is
eligible for services that mitigate or
prevent COVID–19 spread. As such, a
small business, nonprofit, or impacted
industry receiving assistance to
implement COVID–19 mitigation
measures is a beneficiary of assistance
(e.g., granting funds to a small business
to develop an outdoor patio to reduce
transmission). In contrast, if a recipient
contracts with, or grants funds to, a
small business, nonprofit, or impacted
industry to carry out an eligible use for
COVID–19 mitigation on behalf of the
recipient, the entity is a subrecipient
(e.g., contracting with a small business
to operate COVID–19 vaccination sites).

For further information on
distinguishing between beneficiaries
and subrecipients, as well as the
impacts of the distinction on reporting
and other requirements, see section
Distinguishing Subrecipients versus
Beneficiaries.
b. Medical Expenses
Background: The interim final rule
also included as an enumerated eligible
use medical expenses, including
medical care and services to address the
near-term and potential longer-term
impacts of the disease on individuals
infected.

Public Comment: Some commenters
sought clarification on the types of
medical expenses eligible and for
whom, including whether funds could
be used under this category for
expanding health insurance coverage
(e.g., subsidies for premiums, expanding
a group health plan), improvements to
healthcare facilities or establishment of
new medical facilities, direct costs of
medical services, and costs to a selffunded health insurance plan (e.g., a county government health plan) for
COVID–19 medical care.

Treasury Response: In the final rule,
Treasury is maintaining this enumerated
eligible use category and clarifying that
it covers costs related to medical care
provided directly to an individual due
to COVID–19 infection (e.g., treatment)
or a potential infection (e.g., testing).

This can include medical costs to
uninsured individuals; deductibles, copays, or other costs not covered by insurance; costs for uncompensated care
at a health provider; emergency medical
response costs; and, for recipients with
a self-funded health insurance plan,
excess health insurance costs due to
COVID–19 medical care. These are
medical expenses due to COVID–19 and
distinguish this category of eligible uses
from other related eligible uses, like
COVID–19 mitigation and prevention
and health insurance expenses to
households, to provide greater clarity
for recipients in determining which
category of eligible uses they should
review to assess a potential use of funds.

For discussion of eligibility for
programs to expand health insurance
coverage, see section Assistance to
Households.
c. Behavioral Health Care
Background: Recognizing that the
public health emergency, necessary
mitigation measures like social
distancing, and the economic downturn
have exacerbated mental health and
substance use challenges for many
Americans, the interim final rule
included an enumerated eligible use for
mental health treatment, substance use
treatment, and other behavioral health
services, including a non-exhaustive list
of specific services that would be
eligible under this category.

Public Comment: Many commenters
expressed support for the interim final
rule’s recognition of behavioral health
impacts of the pandemic and eligible
uses under this category. Several
commenters requested clarification on
the types of eligible services under this
category, specifically whether both
acute and chronic care are included as
well as services that often do not
directly accept insurance payments, like
peer support groups. Some commenters
highlighted the importance of cultural
competence in providing effective
behavioral health services. Some
commenters suggested that funding
should be available broadly and quickly
for this purpose, recommending that
funding available for behavioral health
not be tied to the amount of revenue
loss experienced by the recipient.

Treasury Response: In the final rule,
Treasury is maintaining this enumerated
eligible use category and clarifying that
it covers an expansive array of services
for prevention, treatment, recovery, and
harm reduction for mental health,
substance use, and other behavioral
health challenges caused or exacerbated
by the public health emergency. The
specific services listed in the interim
final rule also remain eligible.77
Treasury is further clarifying that
when providing behavioral health
services, recipients can identify the
impacted population as the general
public and, as with all enumerated
eligible uses, presume that all programs
and services are reasonably proportional
responses to the harm identified unless
a response is grossly disproportionate to
the type or extent of harm experienced.

In contrast, capital expenditures are not
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3.A.5.a
Packet Pg. 136 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4356 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 78However, SLFRF funds may not be used to
reimburse a service that was also billed to
insurance.
79 In line with the Department of Health and
Human Services, Overdose Prevention Strategy,
https://www.hhs.gov/overdose-prevention/, and the
Office of National Drug Control Policy,
Administration’s Statement on Drug Policy
Priorities for Year One (April 1, 2021), https://
www.whitehouse.gov/wp-content/uploads/2021/03/
BidenHarris-Statement-of-Drug-Policy-PrioritiesApril-1.pdf. considered ‘‘programs and services’’ and
are not presumed to be reasonably
proportional responses to an identified
harm except as provided in section
Capital Expenditures in General
Provisions: Other.

In other words, recipients can provide
behavioral health services to members
of the general public without any
further analysis of impacts of the
pandemic on those individuals and
whether the service is responsive.

Recipients may also use this eligible use
category to respond to increased rates of
behavioral health challenges at a
population level or, at an individual
level, new behavioral health challenges
or exacerbation of pre-existing
challenges, including new barriers to
accessing treatment.

Services that respond to these impacts
of the public health emergency may
include services across the continuum
of care, including both acute and
chronic care, such as prevention,
outpatient treatment, inpatient
treatment, crisis care, diversion
programs (e.g., from emergency
departments or criminal justice system
involvement), outreach to individuals
not yet engaged in treatment, harm
reduction, and supports for long-term
recovery (e.g., peer support or recovery
coaching, housing, transportation,
employment services).

Recipients may also provide services
for special populations, for example,
enhanced services in schools to address
increased rates of behavioral health
challenges for youths, mental health
first responder or law enforcementmental health co-responder programs to divert individuals experiencing mental
illness from the criminal justice system,
or services for pregnant women with
substance use disorders or infants born
with neonatal abstinence syndrome.

Finally, recipients may use funds for
programs or services to support
equitable access to services and reduce
racial, ethnic, or socioeconomic
disparities in access to high-quality
treatment.

Eligible uses of funds may include
services typically billable to
insurance 78 or services not typically
billable to insurance, such as peer
support groups, costs for residence in
supportive housing or recovery housing,
and the 988 National Suicide Prevention
Lifeline or other hotline services.

Recipients may also use funds in
conjunction with other federal grants or
programs (see section Program
Administration Provisions), though
eligible services under SLFRF are not
limited to those eligible under existing
federal programs.

Given the public health emergency’s
exacerbation of the ongoing opioid and
overdose crisis, Treasury highlights
several ways that funds may be used to
respond to opioid use disorder and
prevent overdose mortality.79
Specifically, eligible uses of funds
include programs to expand access to
evidence-based treatment like
medications to treat opioid use disorder
(e.g., direct costs or incentives for
emergency departments, prisons, jails,
and outpatient providers to offer
medications and low-barrier treatment),
naloxone distribution, syringe service
programs, outreach to individuals in
active use, post-overdose follow up
programs, programs for diversion from
the criminal justice system, and
contingency management interventions.

Finally, for clarity, Treasury has
addressed the eligibility standard for
capital expenditures, or investments in
property, facilities, or equipment, in one
section of this Supplementary
Information; see section Capital
Expenditures in General Provisions:

Other. Examples of capital expenditures
related to behavioral health that
Treasury recognizes as eligible include
behavioral health facilities and
equipment (e.g., inpatient or outpatient
mental health or substance use
treatment facilities, crisis centers,
diversion centers), as long as they
adhere to the standards detailed in the
Capital Expenditures section.
d. Preventing and Responding to
Violence
Background: The interim final rule
highlighted that some types of violence
had increased during the pandemic and
that the ability of victims to access
services had decreased, noting as an
example the challenges that individuals
affected by domestic violence face in
accessing services. Accordingly, the
interim final rule enumerated as an
eligible use, in disproportionately
impacted communities, evidence-based
community violence intervention
programs. Following the release of the
interim final rule, Treasury received
several recipient questions regarding
whether and how funds may be used to
respond to an increase in crime,
violence, or gun violence in some
communities during the pandemic.

Treasury released further guidance
identifying how enumerated eligible
uses and eligible use categories under
the interim final rule could support
violence reduction efforts, including
rehiring public sector staff, behavioral
health services, and services to address
negative economic impacts of the
pandemic that may aid victims of crime.

The guidance also identified an
expanded set of enumerated eligible
uses to address increased gun violence.

Public Comment: Several commenters
expressed support for this use of funds.

Treasury Response: In the final rule,
Treasury is maintaining enumerated
eligible uses in this area and clarifying
how to apply eligibility standards.

Throughout the final rule, enumerated
eligible uses should respond to an
identified impact of the COVID–19
public health emergency in a reasonably
proportional manner to the extent and
type of harm experienced. Many of the
enumerated eligible uses—like
behavioral health services, services to
improve employment opportunities, and
services to address educational
disparities in disproportionately
impacted communities—that respond to
the public health and negative economic
impacts of the pandemic may also have
benefits for reducing crime or aiding
victims of crime. For example, the
pandemic exacerbated the impact of
domestic violence, sexual assault, and
human trafficking; enumerated eligible
uses like emergency housing assistance,
cash assistance, or assistance with food,
childcare, and other needs could be
used to support survivors of domestic
violence, sexual assault, or human
trafficking who experienced public
health or economic impacts due to the
pandemic.

Public Comment: Several commenters
expressed support for community
violence intervention programs or
argued that traditional public safety
approaches had negatively impacted the
social determinants of health in their
communities. Several commenters
recommended inclusion of approaches
like mental health or substance use
diversion programs.

Treasury Response: Treasury
recognizes the importance of
comprehensive approaches to
challenges like violence. The final rule
includes an enumerated eligible use for
community violence intervention
programs in all communities, not just
the disproportionately impacted
communities eligible under the interim
final rule. Given the increased rate of
violence during the pandemic, Treasury
has determined that this enumerated
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3.A.5.a
Packet Pg. 137 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4357 80U.S. Bureau of Labor Statistics, All Employees,
Total Nonfarm [PAYEMS], retrieved from FRED,
Federal Reserve Bank of St. Louis; https://
fred.stlouisfed.org/series/PAYEMS (last visited
December 7, 2021). 81 Id. 82U.S. Bureau of Labor Statistics, Unemployment Rate [UNRATE], retrieved from FRED, Federal
Reserve Bank of St. Louis; https://fred.
stlouisfed.org/series/UNRATE (last visited
December 7, 2021). 83U.S. Bureau of Labor Statistics, supra note 80. 84U.S. Bureau of Labor Statistics, supra note 82. 85U.S. Bureau of Economic Analysis, Real Gross Domestic Product [GDPC1], retrieved from FRED,
Federal Reserve Bank of St. Louis, https://fred.
stlouisfed.org/series/GDPC1 (last visited December
7, 2021). 86U.S. Department of the Treasury, Economy
Statement by Catherine Wolfram, Acting Assistant
Secretary for Economy Policy, for the Treasury
Borrowing Advisory Committee (November 1,
2021), available at https://home.treasury.gov/news/
press-releases/jy0453.
87 Yuka Hayashi, IMF Cuts Global Growth
Forecast Amid Supply-Chain Disruptions,
Pandemic Pressures, Wall Street Journal (October
12, 2021), available at https://www.wsj.com/
articles/imf-cuts-global-growth-forecast-amidsupply-chain-disruptions-warns-of-inflation-risks11634043601. 88U.S. Bureau of Labor Statistics, supra note 80.
89U.S. Bureau of Labor Statistics, Civilian Labor
Force Level [CLF16OV], retrieved from FRED,
Federal Reserve Bank of St. Louis, https://fred.
stlouisfed.org/series/CLF16OV (last visited
December 7, 2021).
90U.S. Bureau of Labor Statistics, Labor Force
Statistics from the Current Population Survey:

Employment status of the civilian population by sex
and age (December 6, 2021), https://www.bls.gov/
news.release/empsit.t01.htm (last visited December
7, 2021); U.S. Bureau of Labor Statistics, Labor
Force Statistics from the Current Population
Survey: Employment status of the civilian
noninstitutional population by race, Hispanic or
Latino ethnicity, sex, and age (December 6, 2021),
https://www.bls.gov/web/empsit/cpseea04.htm (last
visited December 7, 2021); U.S. Bureau of Labor
Statistics, Labor Force Statistics from the Current
Population Survey: Employment status of the
civilian noninstitutional population 25 years and
over by educational attainment (December 6, 2021),
https://www.bls.gov/web/empsit/cpseea05.htm (last
visited December 7, 2021).
91Elise Gould & Jori Kandra, Wages grew in 2020
because the bottom fell out of the low-wage labor
market, Economic Policy Institute (Feb. 24, 2021),
https://files.epi.org/pdf/219418.pdf. See also,
Michael Dalton et al., The K-Shaped Recovery:

Examining the Diverging Fortunes of Workers in the
Recovery from the COVID–19 Pandemic using
Business and Household Survey Microdata, U.S.

Bureau of Labor Statistics Working Paper Series
(July 2021), https://www.bls.gov/osmr/researchpapers/2021/pdf/ec210020.pdf. 92Center on Budget and Policy Priorities,
Tracking the COVID–19 Recession’s Effects on
Food, Housing, and Employment Hardships,
https://www.cbpp.org/research/poverty-andinequality/tracking-the-covid-19-economys-effectson-food-housing-and (last visited December 17, 2021).
eligible use is responsive to the impacts
of the pandemic in all communities.

The final rule incorporates guidance
issued after the interim final rule on
specifically types of services eligible,
including:
• Evidence-based practices like
focused deterrence, street outreach,
violence interrupters, and hospitalbased violence intervention models, complete with wraparound services
such as behavioral therapy, trauma
recovery, job training, education,
housing and relocation services, and
financial assistance; and
• Capacity-building efforts at
community violence intervention
programs like funding more
intervention workers, increasing their
pay, providing training and professional
development for intervention workers,
and hiring and training workers to
administer the programs.

Public Comment: Some commenters
sought further clarification on whether
some of the enumerated eligible uses are
considered responsive to all crime,
violent crime, or gun violence.

Treasury Response: Enumerated
eligible uses that respond to an increase
in gun violence may be pursued in
communities experiencing an increase
in gun violence associated with the
pandemic, specifically: (1) Hiring law
enforcement officials—even above prepandemic levels—or paying overtime where the funds are directly focused on
advancing community policing
strategies for gun violence, (2)
additional enforcement efforts to reduce
gun violence exacerbated by the
pandemic, including prosecuting gun
traffickers, dealers, and other parties
contributing to the supply of crime
guns, as well as collaborative federal,
state, and local efforts to identify and
address gun trafficking channels, and (3)
investing in technology and equipment
to allow law enforcement to more
efficiently and effectively respond to the
rise in gun violence resulting from the
pandemic, for example technology to
assist in the identification of guns
whose serial numbers have been
damaged.

3. Negative Economic Impacts
a. Assistance to Households
Background
While the U.S. economy is now on the
path to a strong recovery, the public
health emergency, including the
necessary measures taken to protect
public health, resulted in significant
economic and financial hardship for
many Americans. As businesses closed,
consumers stayed home, schools shifted
to remote education, and travel declined
precipitously, over 22 million jobs were
lost in March and April 2020.80 One
year later, in April 2021, the economy
still remained over 8 million jobs below
its pre-pandemic peak,81 and the
unemployment rate hovered around 6
percent.82
In the months since Treasury issued
the interim final rule in May 2021, the
economy has made large strides in its
recovery. The economy gained over 4
million jobs in the seven months from
May to November 2021; 83 the
unemployment rate fell more than 1.5
percentage points to 4.2 percent, which
is the lowest rate since February 2020; 84
and the size of the nation’s economy
surpassed the pre-pandemic peak in the
second quarter of 2021.85
While the economy has made
immense progress in its recovery since
May 2021, the economy has also faced
setbacks that illustrate the continued
risks to the recovery. As the Delta
variant spread across the country this
summer and fall, the United States faced
another severe wave of cases, deaths,
and strain on the healthcare system,
which contributed to a slowdown in the
pace of recovery in the third quarter.86
Supply chain disruptions have also
demonstrated the difficulties of
restarting a global economy.87
Moreover, although many Americans
have returned to work as of November
2021, the economy remains 3.9 million
jobs below its pre-pandemic peak,88 and

2.4 million workers have dropped out of
the labor market altogether relative to
February 2020.89 Thus, despite much
progress, there is a continued need to
respond to the pandemic’s economic
effects to ensure a full, broad-based, and
equitable recovery.

Indeed, the pandemic’s economic
impacts continue to affect some
demographic groups more than others.

Rates of unemployment remain
particularly severe among workers of
color and workers with lower levels of
educational attainment; for example, the
overall unemployment rate in the
United States was 4.2 percent in
November 2021, but certain groups saw
much higher rates: 6.7 percent for Black
workers, 5.2 percent for Hispanic or
Latino workers, and 5.7 percent for
workers without a high school
diploma.90 Job losses have also been
particularly steep among low-wage
workers, with these workers remaining
furthest from recovery as of the end of
2020.91 A severe recession, and its
concentrated impact among low-income
workers, has amplified food and
housing insecurity, with an estimated
nearly 20 million adults living in
households where there is sometimes or
often not enough food to eat and an
estimated 12 million adults living in
households that were not current on
rent.92
While economic effects have been
seen across many communities, there
are additional disparities by race and
income. For example, approximately
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3.A.5.a
Packet Pg. 138 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4358 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 93Michael Karpman, Dulce Gonzalez, Genevieve
M. Kenney, Parents Are Struggling to Provide for
Their Families during the Pandemic, Urban
Institute (May 2020), https://www.urban.org/
research/publication/parents-are-strugglingprovide-their-families-during-pandemic?utm_ source=urban_researcher&utm_
medium=email&utm_campaign=covid_
parents&utm_term=lhp.
94Women have carried a larger share of childcare
responsibilities than men during the COVID–19
crisis. See, e.g., Gema Zamarro & Marı´a J. Prados,
Gender differences in couples’ division of
childcare, work and mental health during COVID–
19, Rev. Econ. Household 19:11–40 (2021),
available at https://link.springer.com/article/

10.1007/s11150-020-09534-7; Titan Alon et al., The
Impact of COVID–19 on Gender Equality, National
Bureau of Economic Research Working Paper 26947
(April 2020), available at https://www.nber.org/
papers/w26947.
95U.S. Bureau of Labor Statistics, Labor Force
Participation Rate—20 Yrs. & Over, Black or African
American Women [LNS11300032], retrieved from
FRED, Federal Reserve Bank of St. Louis; https://
fred.stlouisfed.org/series/LNS11300032 (last visited
December 7, 2021).
96U.S. Bureau of Labor Statistics, Labor Force
Participation Rate—20 Yrs. & Over, Black or African
American Men [LNS11300031], retrieved from
FRED, Federal Reserve Bank of St. Louis; https://
fred.stlouisfed.org/series/LNS11300031 (last visited
December 7, 2021).
97U.S. Bureau of Labor Statistics, Labor Force
Participation Rate—20 Yrs. & Over, White Women
[LNS11300029], retrieved from FRED, Federal
Reserve Bank of St. Louis; https://fred.stlouis
fed.org/series/LNS11300029 (last visited December
7, 2021).
98See, e.g., Michael Greenstone & Adam Looney,
Unemployment and Earnings Losses: A Look at
Long-Term Impacts of the Great Recession on
American Workers, Brookings Institution (Nov. 4,
2011), https://www.brookings.edu/blog/jobs/2011/
11/04/unemployment-and-earnings-losses-a-lookat-long-term-impacts-of-the-great-recession-onamerican-workers/. 99Chi Chi Wu, Solving the Credit Conundrum:

Helping Consumers’ Credit Records Impaired by the
Foreclosure Crisis and Great Recession, National
Consumer Law Center (Dec. 2013), https://
www.nclc.org/images/pdf/credit_reports/reportcredit-conundrum-2013.pdf. 100 Irwin Garfinkel, Sara McLanahan, Christopher
Wimer, eds., Children of the Great Recession,
Russell Sage Foundation (Aug. 2016), available at
https://www.russellsage.org/publications/childrengreat-recession. 101 Kyle J. Casewell and Stephen Zuckerman,
Food Insecurity, Housing Hardship, and Medical
Care Utilization, Urban Institute (June 2018),
available at https://www.urban.org/sites/default/
files/publication/98701/2001896_foodinsecurity_
housinghardship_medicalcareutilization_
finalized.pdf.
102Housing insecurity is defined as not paying
the full amount of rent or mortgage and/or utility
bills (gas, oil, or electricity) sometime in the
previous 12 months.
103Housing quality hardship is defined as an
affirmative response to one or more questions
related to problems with a respondent’s physical
dwelling: Pests and/or insects; leaking roof or
ceiling; windows that are broken or cannot shut;
exposed electrical wires; broken plumbing (toilet,
hot water, other); holes in walls, ceiling, or floor;
no appliances (refrigerator or stove); and no phone
(of any kind).
104 Id.
105Elise Gould and Melat Kassa. Low-wage, lowhours workers were hit hardest in the COVID–19 recession: The State of Working America 2020
employment report, Economic Policy Institute (May
2021), available at https://www.epi.org/publication/
swa-2020-employment-report/.
106 Id.
107 Id.
108 Id.
109R. Chetty, J. Friedman, N. Hendren, M.

Stepner, & Team, T. O. I., The Economic Impacts
of COVID–19: Evidence from a New Public Database
Built Using Private Sector Data (No. w27431; p.
w27431) (2020), National Bureau of Economic
Research. https://doi.org/10.3386/w27431.
110M. Despard, Michal Grinstein-Weiss, Yung
Chun, and Stephen Roll, COVID–19 job and income
loss leading to more hunger and financial hardship,
Brookings Institute (July 13, 2020), https://
www.brookings.edu/blog/upfront/2020/07/13/
covid-19-job-and-income-loss-leading-to-morehunger-and-financial-hardship/. 111N. Panchal, R. Kamal, C. Mun˜ ana, & P.

Chidambaram, The Implications of COVID–19 for
Mental Health and Substance Use, Kaiser Family
Foundation (February 10, 2021), https://
half of low-income, Black, and Hispanic
parents reported difficulty covering
costs related to food, housing, utility, or
medical care.93 Over the course of the
pandemic, inequities also manifested
along gender lines, as schools closed to
in-person activities, leaving many
working families without childcare
during the day.94 Women of color have
been hit especially hard: The labor force
participation rate for Black women has
fallen by 3.6 percentage points 95 during
the pandemic as compared to 1.3
percentage points for Black men 96 and

1.7 percentage points for White
women.97
As the economy recovers, the effects
of the pandemic-related recession may
continue to impact households,
including a risk of longer-term effects on
earnings and economic potential. For
example, unemployed workers,
especially those who have experienced
longer periods of unemployment, earn
lower wages over the long term once
rehired.98 In addition to the labor
market consequences for unemployed
workers, recessions can also cause
longer-term economic challenges
through, among other factors, damaged
consumer credit scores 99 and reduced
familial and childhood wellbeing.100
These potential long-term economic
consequences underscore the continued
need for robust policy support.

Low- and moderate-income
households, those with income levels at
or below 300 percent of the federal
poverty level (FPL), face particular
hardships and challenges. These
households report much higher rates of
food insecurity and housing hardships
than households with higher incomes.

For example, households with incomes
at or below 300 percent FPL are several
times more likely to have reported
struggling with food insecurity
compared to households with income
above 300 percent FPL.101 Similarly,
low- and moderate-income households
reported being housing insecure 102 at
rates more than twice as high as higherincome households, and low- and moderate-income households reported
housing quality hardship 103 at rates
statistically significantly greater than
the rate for higher-income
households.104 The economic crisis
caused by the pandemic worsened
economic outcomes for workers in many
low- and moderate-income households.

Industries that employed low-wage
workers experienced a disproportionate
level of job loss. For example, from
February 2020 to February 2021, the
hospitality and leisure industry lost
nearly 3.5 million jobs.105 While the
entire industry was impacted, 72
percent of the job losses occurred in the
lowest wage service occupations
compared to only a 6 percent rate of job
loss in the highest wage management
and finance jobs.106 Similar trends exist
in other heavily impacted industries. In
public education, the lowest wage
occupations, service and transportation
jobs, saw a job loss rate of 20 and 26
percent, respectively.107 During that
same time period, the highest wage
occupations in public education,
management, actually saw jobs increase
by 7 percent.108
While many households suffered
negative economic outcomes as a result
of the COVID–19 pandemic and
economic recession, households with
low incomes were impacted in
disproportionate and exceptional ways.

From January 2020 to March 2021, lowwage workers experienced job loss at a rate five times higher than middle-wage
workers, and high-wage workers
actually experienced an increase in job
opportunities.109 Because workers in
low-income households were more
likely to lose their job or experience
reductions in pay, those same
households were also more likely to
experience economic hardships like
trouble paying utility bills, affording
rent or mortgage payments, purchasing
food, and paying for medical
expenses.110 The disproportionate
negative impacts the pandemic has had
on low-income families extend beyond
financial insecurity. For example, lowincome families have reported higher levels of social isolation, stress, and
other negative mental health outcomes
during the pandemic. While over half of
all U.S. adults report that their mental
health was negatively affected by the
pandemic, adults with low incomes
reported major negative mental health
impacts at a rate nearly twice that of
adults with high incomes.111
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3.A.5.a
Packet Pg. 139 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4359 www.kff.org/coronavirus-covid-19/issue-brief/theimplications-of-covid-19-for-mental-health-andsubstance-use/. 112For which recipients may presume that any
student who did not have access to in-person
instruction for a significant period of time was
impacted by the pandemic.

Summary of Interim Final Rule and
Final Rule Structure
Summary: The interim final rule
provided a non-exhaustive list of
enumerated eligible uses to respond to
the negative economic impacts of the
pandemic through assistance to
households, as well as a standard for
assessing whether uses of funds beyond
those enumerated are eligible.

The interim final rule described
enumerated eligible uses for assistance
to households in several categories: (1)
Assistance to unemployed workers, (2)
state Unemployment Insurance Trust
Funds, (3) assistance to households, and
(4) expenses to improve the efficacy of
economic relief. Note that the interim
final rule posed several questions to the
public on enumerated eligible uses for
assistance to households; comments on
these questions are addressed in the
relevant subject matter section below.

In addition, in recognition that preexisting health, economic, and social disparities contributed to
disproportionate pandemic impacts in
certain communities, the interim final
rule also provided a broader list of
enumerated eligible uses to respond to
the pandemic in disproportionately
impacted communities, specifically: (1)
Building stronger communities through
investments in housing and
neighborhoods, (2) addressing
educational disparities, and (3)
promoting healthy childhood
environments. In the interim final rule,
under the Public Health section,
recipients could also provide services to
address health disparities and increase
access to health and social services;
these eligible uses have been reorganized into the Assistance to Households section to consolidate
responses in disproportionately
impacted communities and enhance
clarity.

This section addresses enumerated
eligible uses in the final rule to respond
to negative economic impacts to
households. As a reminder, recipients
may presume that a household or
population that experienced
unemployment, experienced increased
food or housing insecurity, or is low or
moderate income experienced negative
economic impacts resulting from the
pandemic, and recipients may provide
services to them that respond to these
impacts, including these enumerated
eligible uses.

For guidance on how to determine
whether a particular use, beyond those
enumerated, is eligible; further detail on
which households and communities are
presumed eligible for services; and how
to identify eligible households and
communities beyond those presumed
eligible, see section General Provisions:

Structure and Standards.

Reorganizations and CrossReferences: The final rule reorganizes all enumerated eligible uses for
impacted and disproportionately
impacted households into the section
Assistance to Households, with the
exception that expenses to improve the
efficacy of economic relief has been recategorized into a different section of the final rule for increased clarity; for
discussion of that use category, see
section General Provisions: Other.

Note that in conducting this
reorganization, and based on further
analysis and in response to comments,
Treasury has determined that several
enumerated uses included in the
interim final rule for disproportionately
impacted communities are directly
responsive to negative economic
impacts experienced by impacted
households. In the final rule, these uses
have been moved from
‘‘disproportionately impacted’’ to
‘‘impacted’’ households accordingly,
making these services available to both
disproportionately impacted and
impacted households. These uses
include assistance applying for public
benefits or services; programs or
services that address or mitigate the
impacts of the COVID–19 public health
emergency on childhood health or
welfare, including childcare, early
learning services, programs to provide
home visits, and services for families
involved in the child welfare system
and foster youth; programs to address
the impacts of lost instructional time for
students; 112 and programs or services
that address housing insecurity, lack of
affordable housing, or homelessness.

The following activities remain
enumerated eligible uses for
disproportionately impacted
households: Remediation of lead paint
or other lead hazards; housing vouchers
and assistance relocating to
neighborhoods with higher levels of
economic opportunity; and programs or
services that address educational
disparities, including assistance to highpoverty school districts to advance equitable funding across districts and
geographies and evidence-based
services to address the academic, social,
emotional, and mental health needs of
students.

Enumerated Eligible Uses for Impacted
Households
The interim final rule included
several enumerated eligible uses to
provide assistance to households or
populations facing negative economic
impacts due to COVID–19. Enumerated
eligible uses included: Food assistance;
rent, mortgage, or utility assistance;
counseling and legal aid to prevent
eviction or homelessness; emergency
assistance for burials, home repairs,
weatherization, or other needs; internet
access or digital literacy assistance; cash
assistance; or job training to address
negative economic or public health
impacts experienced due to a worker’s
occupation or level of training. It also
posed a question as to what other types
of services or costs Treasury should
consider as eligible uses to respond to
the negative economic impacts of
COVID–19.

This section addresses each of these
enumerated eligible uses in turn, with
the exception of job training, which has
been re-categorized for increased clarity
to the eligible use for ‘‘assistance to
unemployed and underemployed
workers.’’ In general, commenters
supported inclusion of these
enumerated eligible uses to address key
economic needs among households due
to the pandemic, and Treasury is
maintaining these eligible uses in the
final rule, in line with commenters’
recommendations.

1. Food assistance. The interim final
rule included an enumerated eligible
use for food assistance. Some
commenters expressed support for this
eligible use and emphasized the
importance of aid to address food
insecurity. Some commenters raised
questions as to whether food assistance
funds could be used to augment services
provided through organizations like
food banks, churches, and other food
delivery services, or generally be subawarded to these organizations.

Treasury Response: Treasury is
maintaining this enumerated eligible
use without change. Recipients may, as
was the case under the interim final
rule, administer programs through a
wide range of entities, including
nonprofit and for-profit entities, to carry
out eligible uses on behalf of the
recipient government (see section
Distinguishing Subrecipients versus
Beneficiaries). Further, Treasury is
clarifying that capital expenditures
related to food banks and other facilities
primarily dedicated to addressing food
insecurity are eligible; recipients
seeking to use funds for capital
expenditures should refer to the section
Capital Expenditures in General
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3.A.5.a
Packet Pg. 140 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4360 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 113See FAQ 2.21. Coronavirus State and Local
Fiscal Recovery Funds, Frequently Asked
Questions, as of July 19, 2021; https://
home.treasury.gov/system/files/136/SLFRPFAQ.pdf.
114 Jung Hyun Choi, Laurie Goodman, and Daniel
Pang, The Pandemic Is Making It Difficult for Momand-Pop Landlords to Maintain Their Properties, Urban Institute (July 23, 2021), https://
www.urban.org/urban-wire/pandemic-making-itdifficult-mom-and-pop-landlords-maintain-theirproperties. 115U.S. Energy Information Administration,
Residential Energy Consumption Survey (2017),
Retrieved from https://www.eia.gov/consumption/
residential/data/2015/hc/php/hc11.1.php.

D. Herna´ndez, Understanding ‘energy insecurity’
and why it matters to health, Social Science &
Medicine, 167, 1–10 (2016), https://doi.org/

10.1016/j.socscimed.2016.08.029.
116Herna´ndez, D. (2016). Understanding ‘energy
insecurity’ and why it matters to health. Social
Science & Medicine, 167, 1–10. https://doi.org/

10.1016/j.socscimed.2016.08.029.
117U.S. Energy Information Administration,
Residential Energy Consumption Survey (RECS)
https://www.eia.gov/consumption/residential/data/
2015/hc/php/hc11.1.php. (last visited November 9,
2021)
Provisions: Other for additional
eligibility standards that apply to uses
of funds for capital expenditures.

2. Emergency housing assistance. The
interim final rule included an
enumerated eligible use for rent,
mortgage, or utility assistance and
counseling and legal aid to prevent
eviction or homelessness.

Public Comment: Several commenters
supported the inclusion of eviction
prevention activities as an eligible use
given the high number of households
behind on rent and potentially at risk of
eviction. Following release of the
interim final rule, Treasury had also
received requests for elaboration on the
types of eligible services in this
category. Some commenters also
recommended including assistance to
households for delinquent property
taxes, for example to prevent tax
foreclosures on homes, as an
enumerated eligible use.

Treasury Response: In response to
requests for elaboration on the types of
eligible services for eviction prevention,
Treasury has provided further guidance
that these services include ‘‘housing
stability services that enable eligible
households to maintain or obtain
housing, such as housing counseling,
fair housing counseling, case
management related to housing stability,
outreach to households at risk of
eviction or promotion of housing
support programs, housing related
services for survivors of domestic abuse
or human trafficking, and specialized
services for individuals with disabilities
or seniors that support their ability to
access or maintain housing,’’ as well as
‘‘legal aid such as legal services or
attorney’s fees related to eviction
proceedings and maintaining housing
stability, court-based eviction
prevention or eviction diversion
programs, and other legal services that
help households maintain or obtain
housing.’’ 113 Treasury also emphasized
that recipients may work with court
systems, nonprofits, and a wide range of
other organizations to implement
strategies to support housing stability
and prevent evictions.

In the final rule, Treasury is
maintaining these enumerated eligible
uses, including those described in the
interim final rule and later guidance, in
line with commenters’
recommendations. To enhance clarity,
Treasury is also elaborating on some
types of services included under this
eligible use category; this remains a
non-exhaustive list of eligible services.

For example, eligible services under this
use category include: Rent, rental
arrears, utility costs or arrears (e.g.,
electricity, gas, water and sewer, trash
removal, and energy costs, such as fuel
oil), reasonable accrued late fees (if not
included in rental or utility arrears),
mortgage payment assistance, financial
assistance to allow a homeowner to
reinstate a mortgage or to pay other
housing-related costs related to a period
of forbearance, delinquency, or default,
mortgage principal reduction,
facilitating mortgage interest rate
reductions, counseling to prevent
foreclosure or displacement, relocation
expenses following eviction or
foreclosure (e.g., rental security
deposits, application or screening fees).

Treasury is clarifying that assistance to
households for delinquent property
taxes, for example to prevent tax
foreclosures on homes, was permissible
under the interim final rule and
continues to be so under the final rule.

In addition, Treasury is also clarifying
that recipients may administer utility
assistance or address arrears on behalf
of households through direct or bulk
payments to utility providers to
facilitate utility assistance to multiple
consumers at once, so long as the
payments offset customer balances and
therefore provide assistance to
households.

This eligible use category also
includes emergency assistance for
individuals experiencing homelessness,
either individual-level assistance (e.g.,
rapid rehousing services) or assistance
for groups of individuals (e.g., master
leases of hotels, motels, or similar
facilities to expand available shelter).

Further, Treasury is clarifying that
transitional shelters (e.g., temporary
residences for people experiencing
homelessness) are eligible capital
expenditures. Recipients seeking to use
funds for capital expenditures should
refer to the section Capital Expenditures
in General Provisions: Other for
additional eligibility standards that
apply to uses of funds for capital
expenditures.

Note that this enumerated eligible use
describes ‘‘emergency housing
assistance,’’ or assistance for responses
to the immediate or near-term negative
economic impacts of the pandemic. The
final rule also clarifies and expands the
ability of recipients to use SLFRF funds
to address the general lack of affordable
housing and housing challenges
underscored by the pandemic. For
discussion of affordable housing eligible
uses, including services that primarily
increase access to affordable, highquality housing and support stable housing and homeownership over the
long term, see the eligible use for
‘‘promoting long-term housing security:

Affordable housing and homelessness.’’

3. Emergency assistance for pressing
needs: Burials, home repairs,
weatherization, or other needs. The
interim final rule included an
enumerated eligible use for emergency
assistance for burials, home repairs,
weatherization, and other needs; these
types of programs may provide
emergency assistance for pressing and
unavoidable household needs. Treasury
did not receive comments on this
eligible use and is maintaining it in the
final rule.

Background on Home Repairs and
Weatherization: The economic
downturn has meant fewer households
had the resources needed to make
necessary home repairs and
improvements. In May 2021, 28 percent
of landlords reported deferring
maintenance and 27 percent of tenants
reported maintenance requests going
unanswered.114 While small and
cosmetic repairs can often wait,
deferring major repairs, such as
plumbing needs, can result in unsafe
and unhealthy living environments and,
eventually, the need for more expensive
repairs and fixes.

In addition to repairs, many homes
are in need of weatherization.

Weatherization assistance helps lowand moderate-income Americans save energy, reduce their utility bills, and
keeps them and their homes safe. One
in three households is energy
insecure,115 meaning they do not have
the ability to meet their energy needs.116
Weatherization efforts are particularly
important for low- and moderateincome households. Households of color, renters, and households with low
or moderate incomes are all more likely
to report energy insecurity.117 These
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3.A.5.a
Packet Pg. 141 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4361 118A. Drehobl, & L. Ross, Lifting the high energy
burden in America’s largest cities: How energy
efficiency can improve low income and
underserved communities, American Council for an
Energy Efficient Economy (2016), https://
www.aceee.org/sites/default/files/publications/
researchreports/u1602.pdf.
119See, e.g., Nation Telecommunications and
Information Administration, More than Half of
American Households Used the Internet for HealthRelated Activities in 2019, NTIA Data Show (December 7, 2020), https://www.ntia.gov/blog/
2020/more-half-american-households-usedinternet-health-related-activities-2019-ntia-datashow; Nation Telecommunications and Information Administration, Nearly a Third of American
Employees Worked Remotely in 2019, NTIA Data
Show (September 3, 2020) https://www.ntia.gov/
blog/2020/nearly-third-american-employeesworked-remotely-2019-ntia-data-show; and generally, Nation Telecommunications and
Information Administration, Digital Nation Data
Explorer (June 10, 2020), https://www.ntia.gov/
data/digital-nation-data-explorer.
120BroadbandSearch Blog Post, How Do U.S.

Internet Costs Compare To The Rest Of The World?,
available at https://www.broadbandsearch.net/blog/
internet-costs-compared-worldwide.
121Pew Research Center, Mobile Technology and
Home Broadband 2021 (June 3, 2021), https://
www.pewresearch.org/internet/2021/06/03/mobiletechnology-and-home-broadband-2021/. 122Pew Research Center, 53% of Americans Say
the internet Has Been Essential During the COVID–
19 Outbreak (April 30, 2020), https://www.pew
research.org/internet/2020/04/30/53-of-americanssay-the-internet-has-been-essential-during-thecovid-19-outbreak/. 123 Id.
disparities are partially a result of
economic hardship but are also caused
by inequitable access to housing with
proper insulation, up to date heating,
cooling, and ventilation systems, and
functioning and up to date lighting and
appliances.118 While programs that
address the effects of energy hardships,
like the Low-Income Home Energy
Assistance Program (LIHEAP), are
critical, weatherization attempts to
address root causes by addressing issues
that lead to energy insecurities.

4. Internet access or digital literacy
assistance. The interim final rule
included an enumerated eligible use for
assistance to households for internet
access or digital literacy assistance. This
enumerated eligible use, which
responds to the negative economic
impacts of the pandemic on a household
by providing assistance that helps them
secure internet access or increase their
ability to use computers and the
internet, is separate from the eligible use
category for investments in broadband
infrastructure, under Sections
602(c)(1)(D) and 603(c)(1)(D), which is
used to build new broadband networks
through infrastructure construction or
modernization. For discussion of
broadband infrastructure investment in
the final rule, see section Broadband
Infrastructure in Infrastructure.

Background: The COVID–19 public
health emergency has underscored the
importance of universally available,
high-speed, reliable, and affordable
broadband coverage as millions of
Americans rely on the internet to
participate in, among other critical
activities, school, healthcare, and work.

Recognizing the need for such
connectivity, SLFRF funds can be used
to make necessary investments in
broadband infrastructure that increase
access over the long term, as well as the
necessary supports to purchase internet
access or gain digital literacy skills
needed to complete activities of daily
living during the pandemic.

The National Telecommunications
and Information Administration (NTIA)
highlighted the growing necessity of
broadband in daily lives through its
analysis of NTIA internet Use Survey
data, noting that Americans turn to
broadband internet service for every
facet of daily life including work, study,
and healthcare.119 With increased use of
technology for daily activities and the
movement by many businesses and
schools to operating remotely during the
pandemic, broadband has become even
more critical for people across the
country to carry out their daily lives.

However, even in areas where
broadband infrastructure exists,
broadband access may be out of reach
for millions of Americans because it is
unaffordable, as the United States has
some of the highest broadband prices in
the Organisation for Economic Cooperation and Development (OECD).120 According to a 2021 Pew Research
Center study, 20 percent of nonbroadband users say that the monthly cost of home broadband is the primary
reason they do not have broadband at
home, and 40 percent say that cost is
one reason for their lack of home
broadband.121 Further, according to
another survey, 22 percent of parents
with homebound schoolchildren during
the COVID–19 pandemic say that it is
very or somewhat likely that their
children will have to rely on public wifi to finish their schoolwork because there is no reliable internet connection
at home; this percentage nearly doubles
for lower-income parents, 40 percent of
whom noted that their children will
have to rely on public wi-fi.122 The
same survey showed that 36 percent of
lower-income parents with homebound
children say their child will not be able
to complete their schoolwork because
they do not have access to a computer
at home.123
Public Comment: Many commenters
highlighted the importance of
broadband access during the pandemic,
including for remote work and
education, and argued that affordability
presents a major barrier to broadband
adoption by households; in other words,
many households live in areas that have
broadband infrastructure and service
available but are unable to purchase
service for their household due to the
high cost. These commenters argued
that broadband must be affordable to be
accessible.

Commenters proposed several
potential responses to affordability
concerns. Some commenters
recommended that building ‘‘gap
networks,’’ or broadband networks built
at low cost to provide affordable service
in areas where it is lacking, be eligible
as assistance to households to respond
to the negative economic impacts of the
pandemic, even if they do not meet the
technical standards for eligibility under
the eligible use category of broadband
infrastructure investment, especially the
required speed standards for new
service. These commenters argued that
the networks have shown promise as a
timely means to expand access to
affordable broadband internet during
the pandemic, even if they may not
provide service speeds needed for more
intensive internet uses. Another
commenter requested eligible uses
include funding cellular towers to
decrease costs. One commenter
recommended that affordability should
be addressed through other programs
but not SLFRF given that affordability
and availability may require nuanced
solutions that would be complex to
combine.

Treasury Response: The interpretive
framework and enumerated eligible uses
allow recipients flexibility to address
identified pandemic impacts, including
through solutions that take into account
the particularized issues in their
community. Given extensive commenter
feedback on the importance of
affordability to achieving broadband
access, and the centrality of broadband
to participating in work, education,
healthcare, and other activities during
the pandemic, affordability programs
are an appropriate eligible use to
respond to the negative economic
impacts of the pandemic and Treasury
is maintaining the enumerated eligible
use for assistance to households for
internet access and digital literacy
programs in the final rule.

Building or constructing new
broadband networks is an infrastructure
investment and is governed by a
separate clause in the statute. Treasury
has addressed comments on ‘‘gap
networks’’ that require infrastructure
build-out in the section Broadband
Infrastructure in Infrastructure.

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3.A.5.a
Packet Pg. 142 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4362 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 124Amy Finkelstein & Matthew J Notowidigdo,
Take-Up and Targeting: Experimental Evidence
from SNAP, The Quarterly Journal of Economics,
vol 134(3), pages 1505–1556 (2019), https://
www.nber.org/papers/w24652.

Public Comment: Some commenters
also use the term ‘‘gap networks’’ to
refer to equipment installed as part of
wi-fi systems, such as routers, repeaters,
and access points; this equipment
provides consumer access to an existing
broadband network and does not require
new network build-out or construction.

These commenters recommended that
Treasury permit, as assistance to
households for internet access,
investments in public wi-fi networks,
free wi-fi in public housing
communities, and other equipment that
offers internet access to end users by
utilizing existing broadband networks.

Other commenters recommended that
eligible uses in this category include
providing devices and equipment
necessary to access the internet, like
computers and routers, directly to lowincome households.

Treasury Response: Treasury has
determined that these services, which
expand internet access without
constructing new networks, are an
appropriate enumerated eligible use as
assistance to households to respond to
a negative economic impact, and they
are permitted under the final rule.

Treasury is clarifying that eligible uses
under this category can also include a
wide range of programs and services to
expand internet access and digital
literacy, such as subsidies for the cost of
internet service, other programs that
support adoption of internet service
where available, digital literacy
programs, or programs that provide
devices and equipment to access the
internet (e.g., programs that provide
equipment like tablets, computers, or
routers) to households. Recipients
seeking to use funds for equipment
should refer to the section Capital
Expenditures in General Provisions:

Other for additional eligibility standards
that apply to uses of funds for capital
expenditures (e.g., equipment, property,
and facilities).

5. Cash assistance. The interim final
rule included as an enumerated eligible
use cash assistance and provided that
cash transfers must be ‘‘reasonably
proportional’’ to the negative economic
impact they address and may not be
‘‘grossly in excess of the amount needed
to address’’ the impact. In assessing
whether a transfer is reasonably
proportional, recipients may ‘‘consider
and take guidance from the per person
amounts previously provided by the
Federal Government in response to the
COVID–19 crisis,’’ and transfers
‘‘grossly in excess of such amounts’’ are
not eligible.

Public Comment: Several commenters
expressed support for this eligible use,
noting that this is a common policy tool
for some governments to support the
well-being of households and
individuals in their communities. Some
commenters requested that Treasury set
a specific dollar amount for permissible
cash transfers, and Treasury has also
received recipient questions on whether
specific types of transfers, such as those
to a substantial share of the population
in the jurisdiction, would be a
permissible use of funds.

Treasury Response: Treasury is
maintaining this enumerated eligible
use in the final rule, in line with
commenters’ recommendations. Because
the final rule is intended to provide
flexibility to recipients to respond to the
particularized pandemic impacts in
their communities, which may vary in
type and intensity, setting a specific
dollar threshold for eligible cash
transfers would fail to recognize the
particularized needs of communities
and limit recipients’ flexibility to tailor
their response to those needs.

To provide greater clarity, Treasury is
elaborating on the analysis that
recipients may undertake to assess the
eligibility of specific cash assistance
programs or transfers. Cash transfers,
like all eligible uses in this category,
must respond to the negative economic
impacts of the pandemic on a household
or class of households. For the reasons
discussed above, recipients may
presume that low- and moderate-income
households (as defined in the final rule),
as well as households that experienced
unemployment, food insecurity, or
housing insecurity, experienced a
negative economic impact due to the
pandemic.

Recipients may also identify other
households or classes of households
that experienced a negative economic
impact of the pandemic and provide
cash assistance that is reasonably
proportional to, and not grossly in
excess of, the amount needed to address
the negative economic impact. For
example, in the ARPA, Congress
authorized Economic Impact Payments
to households at certain income levels,
identifying and responding to a negative
economic impact of the pandemic on
these households.

Finally, Treasury has reiterated in the
final rule that responses to negative
economic impacts should be reasonably
proportional to the impact that they are
intended to address. Uses that bear no
relation or are grossly disproportionate
to the type or extent of harm
experienced would not be eligible uses.

Reasonably proportional refers to the
scale of the response compared to the
scale of the harm. It also refers to the
targeting of the response to beneficiaries
compared to the amount of harm they
experienced; for example, it may not be
reasonably proportional for a cash
assistance program to provide assistance
in a very small amount to a group that
experienced severe harm and in a much
larger amount to a group that
experienced relatively little harm.

6. Survivor’s benefits. The interim
final rule included an enumerated
eligible use for survivor’s benefits to
surviving family members of
individuals who have died from
COVID–19, including cash assistance to
widows, widowers, or dependents.

Public Comment: Treasury did not
receive any comments on the inclusion
of survivor’s benefits as an enumerated
use for impacted households in the
interim final rule.

Treasury Response: This use of funds
remains eligible under the final rule.

Consistent with the general
reorganization noted above, the final
rule organizes survivor’s benefits under
assistance to households to clarify that
households are the intended
beneficiaries of survivor’s benefits.

7. Assistance accessing or applying
for public benefits or services.

Recognizing that eligible households
often face barriers to accessing public
benefits or services that improve health
and economic outcomes, the interim
final rule included as an enumerated
eligible use in disproportionately
impacted communities, public benefits
navigators to assist community members
with navigating and applying for
available federal, state, and local public
benefits or services. Treasury also
clarified in subsequent guidance after
the interim final rule that this eligible
use category would include outreach
efforts to increase uptake of the Child
Tax Credit.

Background: The under-enrollment of
eligible households in social assistance
programs is a well-recognized and
persistent challenge. There are many
reasons why a household may not be
receiving a particular benefit even
though they are eligible. For many
federal programs, enrollment processes
vary from state-to-state. Sometimes,
households are simply unaware that
they are eligible for a particular
benefit.124 For example, despite having
one of the highest rates of participation
of any benefits program, nearly 20
percent of eligible individuals do not
participate in the Supplementary
Nutritional Assistance Program
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3.A.5.a
Packet Pg. 143 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4363 125United States Department of Agriculture,
Trends in Supplemental Nutrition Assistance
Program Participation Rates: Fiscal Year 2016 to
Fiscal Year 2018 (May 2021), https://fns-prod.
azureedge.net/sites/default/files/resource-files/
Trends2016-2018.pdf.
126 Jeremy Barofsky et al., Spreading Fear: The
Announcement Of The Public Charge Rule Reduced
Enrollment In Child Safety-Net Programs, Health
Affairs (October 2020), https://www.health
affairs.org/doi/full/10.1377/hlthaff.2020.00763.
127See, e.g., U.S. Department of the Treasury, By
ZIP Code: Number of Children under Age 18 with
a Social Security Number Who Are Not Found on
a Tax Year 2019 or 2020 Tax Return but who
Appear on a Tax Year 2019 Form 1095 and
Associated Number of Policy Holders (June 2021),
https://home.treasury.gov/system/files/131/
Estimated-Counts-of-Children-Unclaimed-for-CTCby-ZIP-Code-2019.pdf. 128Women have carried a larger share of
childcare responsibilities than men during the
COVID–19 crisis. See, e.g., Gema Zamarro & Mar(´a
J. Prados, Gender differences in couples’ division of
childcare, work and mental health during COVID–
19, Rev. Econ. Household 19:11–40 (2021),
available at https://link.springer.com/article/

10.1007/s11150-020-09534-7; Titan Alon et al., The
Impact of COVID–19 on Gender Equality, National
Bureau of Economic Research Working Paper 26947
(April 2020), available at https://www.nber.org/
papers/w26947.
129See, e.g., Center For The Study Of Child Care
Employment (CSCCE), Child Care Sector Jobs: BLS
Analysis (November 8, 2021), https://cscce.
berkeley.edu/child-care-sector-jobs-bls-analysis/;
Emma K. Lee, and Zachary Parolin. The Care
Burden during COVID–19: A National Database of
Child Care Closures in the United States, Socius
(January 2021), doi:10.1177/23780231211032028. 130 Jason Furman, Melissa Schettini Kearney, and Wilson Powell, The Role of Childcare Challenges in
the US Jobs Market Recovery During the COVID–
19 Pandemic, NBER Working Paper No. 28934 (June
2021), https://www.nber.org/papers/w28934.
131U.S. Census Bureau, Phase 3.2 Household
Pulse Survey: Table 2. Childcare Arrangements in
the Last 4 Weeks for Children Under 5 Years Old,
by Selected Characteristics, (Washington: 2021),
available at https://www.census.gov/programssurveys/household-pulse-survey/data.html. 132 Id.
133N. Kalluri, C. Kelly, & A. Garg, Child Care
During the COVID–19 Pandemic: A Bad Situation
Made Worse. Pediatrics (2021), https://doi.org/

10.1542/peds.2020-041525.
134National Association for the Education of
Young Children, Am I Next? Sacrificing to Stay
Open, Child Care Providers Face a Bleak Future
Without Relief (December 2020), https://
www.naeyc.org/sites/default/files/globally-shared/
downloads/PDF.
135 G. G. Weisenfeld, Impacts of Covid-19 on
Preschool Enrollment and Spending, New
Brunswick, NJ: National Institute for Early
Education Research (2021), https://nieer.org/wpcontent/uploads/2021/03/NIEER_Policy_Brief_ Impacts-of-Covid-19on_Preschool_Enrollment_and_
Spending_3_16_21.pdf.
136Heather Long, ‘The pay is absolute crap’:

Child-care workers are quitting rapidly, a red flag
for the economy, Washington Post (September 19,
2021), https://www.washingtonpost.com/business/
2021/09/19/childcare-workers-quit/.
137Monash University, The emotional toll of
COVID–19 among early childhood educators
(August 5, 2020) https://lens.monash.edu/@
education/2020/08/05/1381001/the-emotional-tollof-covid-19-among-early-childhood-educators. 138 Daphna Bassok and Anna Shapiro,
Understanding COVID–19-era enrollment drops
Continued
(SNAP).125 In other cases, policies like
public charge and asset testing can
discourage otherwise eligible
households.126 While the gap between
households that need assistance and the
number of households participating in
public benefit programs has always
existed, narrowing that gap and
ensuring households receive the support
they need is critical in mitigating the
negative economic impacts of the
pandemic.

Public Comment: Treasury has also
received feedback from recipients and
stakeholders noting the need to increase
awareness and uptake of assistance
programs, including gaps that remain in
enrollment of eligible households in
programs to address the negative
economic impacts of the pandemic.127
Treasury Response: Treasury has
determined that this impact of the
pandemic is widely experienced across
many jurisdictions and programs or
services to increase awareness and
uptake of assistance programs would
respond to the pandemic’s negative
economic impact in all communities. As
such, in the final rule, this use is eligible
for any impacted household or class of
households, not only in
disproportionately impacted
communities.

8. Promoting healthy childhood
environments. The interim final rule
included programs and services that
promote healthy childhood
environments as an enumerated eligible
use for disproportionately impacted
households. The interim final rule listed
three programs or services included
under this use: Childcare; programs to
provide home visits by health
professionals, parent educators, and
social service professionals to
individuals with young children to
provide education and assistance for
economic support, health needs, or
child development; and services for
child welfare-involved families and
foster youth to provide support and
education on child development,
positive parenting, coping skills, or
recovery for mental health and
substance use. The interim final rule
also included an enumerated eligible
use for early learning services in
disproportionately impacted
communities, to address disparities in
education.

Public Comment: Childcare and Early
Learning: Treasury received multiple
comments that were supportive of the
provision of childcare. Treasury has also
received multiple comments and
questions indicating that recipients have
identified a need for childcare for a
broader range of households and
communities, for example those that
may need childcare in order to return to
work, in addition to households and
communities disproportionately
impacted by the pandemic. Several
commenters expressed uncertainty
about how childcare facilities should
interact with the boundaries of a QCT.

Finally, one commenter recommended
that pre-K or early learning services
encompass care for infants and toddlers,
arguing that these types of care are often
more expensive or challenging to access
for families.

Background: Childcare and Early
Learning: As daycares and schools
closed in-person activities during the
pandemic, many working families were
left without childcare during the day.128
Although daycare centers and schools
have since reopened in many
communities, there remains a persistent
childcare shortage as childcare
employment levels have not fully
rebounded since the sharp decline in
childcare employment at the beginning
of the pandemic.129 As a result, working
parents in communities across the
country, and more specifically women,
may face challenges entering or
reentering the labor force.130
Low-income households are also more
likely to lose access to quality
childcare.131 The widespread closure of
childcare centers combined with a lack
of access to paid family leave means
parents in low-income households are
more likely to experience a reduction of
income or leave their jobs due to a lack
of childcare options.132
Additionally, childcare providers
serving primarily low-income families
were less likely to remain open during
the pandemic because of tighter profit
margins and general community
financial insecurity, compared to
childcare providers serving primarily
high-income families.133 134
In addition to disruptions to
childcare, early learning services were
also significantly impacted by the
pandemic, and the disruption of these
services had widespread ramifications
for learning loss, parental support, and
equity. Early learning centers have seen
declined enrollment across the board,
though there was a larger dip in
enrollment for low-income
households.135 This lower enrollment
coincides with a diminishing workforce,
as similarly to childcare, early
childhood educators have been leaving
the profession due to long hours, low
pay,136 and health and safety
concerns.137 As a result, children’s
school readiness has suffered, leading to
potential long-term impacts on life
outcomes.138 The impact also extended
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3.A.5.a
Packet Pg. 144 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4364 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations among early-grade public school students,
Brookings Institution (February 22, 2021), https://
www.brookings.edu/blog/brown-center-chalkboard/
2021/02/22/understanding-covid-19-eraenrollment-drops-among-early-grade-public-schoolstudents/. 139Centers for Disease Control and Prevention,
Pregnant and Recently Pregnant People, https://
www.cdc.gov/coronavirus/2019-ncov/need-extraprecautions/pregnant-people.html (last visited November 9, 2021).
140 Id.
141Sarah Javaid, Sarah Barringer, Sarah D
Compton, Elizabeth Kaselitz, Maria Muzik, Cheryl
A. Moyer, The impact of COVID–19 on prenatal
care in the United States: Qualitative analysis from
a survey of 2519 pregnant women, Midwifery,
Volume 98, 2021, 102991, ISSN 0266–6138, https://
doi.org/10.1016/j.midw.2021.102991.
142A Basu, HH Kim, R Basaldua, KW Choi, L
Charron, et al., A cross-national study of factors
associated with women’s perinatal mental health
and wellbeing during the COVID–19 pandemic,
PLOS ONE 16(4): e0249780, (2021), https://doi.org/

10.1371/journal.pone.0249780.
143Amanda Taub, A New Covid-19 Crisis:

Domestic Abuse Rises Worldwide, New York Times
(April 6, 2020), https://www.nytimes.com/2020/04/
06/world/coronavirus-domestic-violence.html.
144 Xenia Shih Bion, Efforts to Reduce Black
Maternal Mortality Complicated by COVID–19,
California Health Care Foundation (April 20, 2020),
https://www.chcf.org/blog/efforts-reduce-blackmaternal-mortality-complicated-covid-19/. 145U.S. Department of Health and Human
Services, Home Visiting Evidence of Effectiveness,
https://homvee.acf.hhs.gov/outcomes/maternal%20
health/In%20Brief.
146National Conference of State Legislatures,
Criminal Justice System Responses to COVID–19
(November 16, 2020), https://www.ncsl.org/
research/civil-and-criminal-justice/criminal-justiceand-covid-19.aspx. 147 John Burton Advocates for Youth, The
Cumulative Impact of the Pandemic on Youth Who
Have Been in Foster Care or Homeless (May 2020)
https://jbay.org/wp-content/uploads/2021/04/JBAYCOVID-19-Impact.pdf. 148 John Kelly, Next Week, Thousands of Foster
Youth Will Age Out on the Same Day (September
21, 2021), https://imprintnews.org/subscribercontent/thousands-of-foster-youth-will-age-out-onthe-same-day/59006. 149Conrad-Hiebner, Aislinn, and Elizabeth
Byram, The Temporal Impact of Economic
Insecurity on Child Maltreatment: A Systematic
Review. Trauma, Violence, & Abuse, vol. 21, no. 1,
Jan. 2020, pp. 157–178, doi:10.1177/
1524838018756122.
to parents. Parents, especially mothers,
may face challenges reentering or
remaining in the workforce if early
learning services are unavailable.

Treasury Response: Childcare and
Early Learning Services: Treasury agrees
with commenters’ analysis that
challenges accessing or affording
childcare have been widespread during
the pandemic, affecting many
jurisdictions and populations across the
country. Disruptions to early care and
learning services similarly have had
broad impact and likely result in
negative impacts for young children and
their parents. As such, these
enumerated eligible uses are generally
responsive to the negative economic
impacts of the pandemic in all
communities, not just in
disproportionately impacted
communities. Under the final rule,
childcare and early learning services are
available to impacted households or
classes of households, not just those
disproportionately impacted. These
eligible uses can include new or
expanded services, increasing access to
services, efforts to bolster, support, or
preserve existing providers and services,
and similar activities.

Further, Treasury is clarifying that
improvements to or new construction of
childcare, daycare, and early learning
facilities are eligible capital
expenditures. Recipients seeking to use
funds for capital expenditures should
refer to the section Capital Expenditures
in General Provisions: Other for
additional eligibility standards that
apply to uses of funds for capital
expenditures.

Public Comment: Home Visiting:

Treasury has also received questions
about whether the provision of home
visiting services would be responsive to
the health and mental health needs of
impacted new mothers, citing the
positive mental health impacts shown
on the mother as well as improved
outcomes for children.

Background: Home Visiting: Pregnant
and recently pregnant individuals are at
an increased risk for serious illness from
COVID–19.139 Furthermore, pregnant
individuals with COVID–19 are more
likely to experience preterm birth
(delivering the baby earlier than 37
weeks).140 In addition to heightened
health risks from COVID–19, pregnant
individuals may have experienced
significant changes to their prenatal care
during the pandemic 141 or may also
have experienced increased mental
health challenges, including high levels
of depression, anxiety, loneliness, and
post-traumatic stress during the
pandemic.142
Home visiting services provided to
families, particularly new mothers and
newborns, feature regular home visits
from trained nurses, social workers,
and/or counselors who provide health
care, mental health resources, positive
parenting support, support in making
personal health decisions, and
awareness of other potentially helpful
services. These functions have become
even more essential at mitigating
negative factors associated with the
pandemic. Home visits give
professionals a chance to flag potential
domestic violence, which has risen
worldwide over the course of the
pandemic.143 Racial health disparities
can also be driven down by home visits.

For example, Black women are more
likely to avoid hospitals during the
pandemic, and home visitors can help
either assuage concerns around
hospitals or give effective advice for
alternative methods of childbirth.144
Given the disproportionate effect of the
pandemic on people of color, home
visits are an essential equity tool that
tackle major negative effects of the
pandemic. These are just a few
selections from the evidence that
suggests many home visiting models can
have a positive effect on maternal
physical and mental health.145
Treasury Response: Home Visiting:

Given the widespread impact of
COVID–19 on pregnant and recently
pregnant individuals, Treasury is recategorizing home visiting services as an eligible use for impacted communities,
not just disproportionately impacted
communities. Under the final rule, these
eligible uses are available to impacted
households or classes of households.

Public Comment: Child Welfare:

While the interim final rule noted that
certain types of assistance, particularly
around child development and
parenting, were eligible for child
welfare-involved families, Treasury has
received some recipient questions
asking whether financial, educational,
housing, or other supports and services
are eligible uses for foster youth,
including those aging out of the system,
and child welfare-involved families.

Other commenters asked about whether
funding for kinship care would be
eligible.

Background: Child Welfare: The
COVID–19 pandemic placed meaningful
strain on the child welfare and foster
care system. Court hearings were
delayed,146 essential mental health care
was shifted to a virtual environment,
and attendance and performance in
school among foster children dropped
sharply.147 Additionally, there was a
nationwide rise of new children
entering the foster care system and
many states placed temporary moratoria
on children aging out of the foster care
system.148 As these temporary moratoria
expire, additional support will be
needed to assist children exiting the
system.

Additionally, financial and material
hardship are causal factors in the
increase of new children entering the
foster care system, whether through loss
of a caregiver, domestic violence,149 or
other associated costs of the pandemic.

Therefore, support to decrease these
hardships will support families and
increase positive outcomes for youth
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3.A.5.a
Packet Pg. 145 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4365 150 Verlenden JV, Pampati S, Rasberry CN, et al.

Association of Children’s Mode of School
Instruction with Child and Parent Experiences and
Well-Being During the COVID–19 Pandemic—
COVID Experiences Survey, United States, October
8–November 13, 2020. MMWR Morb Mortal Wkly
Rep 2021;70:369–376. DOI: http://dx.doi.org/

10.15585/mmwr.mm7011a1external icon.
151U.S. Department of Education, Strategies for
Using American Rescue Plan Funding to Address
the Impact of Lost Instructional Time, August 2021.

Retrieved from https://www2.ed.gov/documents/
coronavirus/lost-instructional-time.pdf.
152Consumer Financial Protection Bureau,
Housing insecurity and the COVID–19 pandemic
Continued
and families that may otherwise become
involved in the child welfare system.

Treasury Response: In the final rule,
Treasury is clarifying that services to
foster youth, including those aging out
of the system, and child welfareinvolved families may encompass a wide array of financial, educational,
child development, or health supports,
or other supports necessary, including
supports for kinship care.

9. Addressing the impacts of lost
instructional time.

Public Comment: The interim final
rule included an enumerated eligible
use to address educational disparities in
disproportionately impacted
communities, recognizing that
underserved students have been more
severely impacted by the pandemic and
including responsive services for early
learning, enhance funding to highpoverty districts, and providing evidence-based services to address the
academic, social, emotional, and mental
health needs of students. Some
commenters expressed concerns that
learning loss or the negative impacts of
lost instructional time due to school
closures or remote education during the
pandemic had affected a significant
share of students in grades kindergarten
through twelve (K–12), including
students who may not fall within a
disproportionally impacted group.

Background: The COVID–19
pandemic resulted in the widespread
closure of schools across the nation.

While many schools and districts
reopened to in-person instruction or
implemented remote learning, the shift
was not immediate or without
consequence. Children who received
virtual only or combined remote and inperson instruction were more likely to report experiencing negative mentaland physical health outcomes than children who received in-person
instruction.150
Treasury Response: Under the final
rule, addressing the impact of lost
instructional time and/or learning loss
is an enumerated eligible use for
impacted households. When providing
services to address lost instructional
time, recipients may presume that any
K–12 student who lost access to inperson instruction for a significant period of time has been impacted by the
pandemic and is thus eligible for
responsive services.

Interventions or services that address
the impact of lost instructional time
may include offering high-quality
tutoring and other extended learning
opportunities, providing differentiated
instruction, implementing activities to
meet the comprehensive needs of
students, expanding and improving
language access for parents and families,
providing information and assistance to
parents and families on how they can
effectively support students, including
in a distance learning environment,
improving student engagement in
distance education, and administering
and using high-quality assessments to
assess students’ academic progress,
among others. In designing services
under this eligible use, recipients may
wish to reference guidance from the
Department of Education on strategies
for addressing lost instructional time.151
The final rule also maintains a
separate enumerated eligible use for
addressing educational disparities in
disproportionately impacted
communities. This eligible use includes
services to address disparities in
educational outcomes that predate the
pandemic and amplified its impact on
underserved students; these include, for
example, enhanced funding to highpoverty districts and providing evidence-based services to address the
academic, social, emotional, and mental
health needs of students.

Finally, as described in the section
Public Health, recipients can provide a
broad range of behavioral health
services, including services for children
and youth in schools, to respond to the
impacts of the pandemic on mental
health and other behavioral health
issues. When providing behavioral
health services, recipients may presume
that the general public was impacted by
the pandemic and provide behavioral
health services to members of the
general public, including children and
youth in schools, without any further
analysis of impacts of the pandemic on
those individuals and whether the
service is responsive.

10. Promoting long-term housing
security: affordable housing and
homelessness. Under the interim final
rule, recipients may use SLFRF funds to
provide a set of housing services to
communities that have been
disproportionately impacted by the
pandemic. Specifically, the interim final
rule provided that programs or services
that address housing insecurity, lack of
affordable housing, or homelessness,
were responsive to the negative
economic impacts of the pandemic
when provided to disproportionately
impacted households and communities.

The enumerated uses included
supportive housing or other programs or
services to improve access to stable,
affordable housing among individuals
who are homeless and development of
affordable housing to increase supply of
affordable and high-quality living units.

Many recipients have already
announced plans to use SLFRF funds
for affordable housing interventions in
all of these categories. Treasury received
many comments asking for additional
clarity or flexibility in these uses.

As detailed below, based on multiple
public comments and questions and
Treasury’s subsequent analysis,
Treasury has determined that
supportive housing or other programs or
services to improve access to stable,
affordable housing among individuals
who are homeless, and the development
of affordable housing to increase supply
of affordable and high-quality living
units are responsive to the needs of
impacted populations, not only
disproportionately impacted
populations. This final rule reflects this
clarification and builds on the
objectives stated in the interim final rule
to improve access to stable, affordable
housing, including through
interventions that increase the supply of
affordable and high-quality living units,
improve housing security, and support
durable and sustainable
homeownership.

Finally, note that ‘‘emergency housing
assistance,’’ or assistance for responses
to the immediate negative economic
impacts of the pandemic through
services like financial assistance for
rental arrears or mortgage payments, is
also an eligible use category for
assistance to households under the final
rule; see the eligible use for ‘‘emergency
housing assistance’’ above. The
provision of housing vouchers and
assistance relocating to neighborhoods
with higher levels of economic
opportunity remains an eligible use
under assistance to disproportionately
impacted households; for discussion,
see the eligible use for ‘‘housing
vouchers and assistance relocating’’
below.

Background: Affordable Housing: It is
clear that the ongoing pandemic and
resulting economic crisis are having a
profound, long-term negative effect on
the pre-existing affordable housing
crisis facing low-income households.152
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3.A.5.a
Packet Pg. 146 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4366 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations (March 2020), https://files.consumerfinance.gov/f/
documents/cfpb_Housing_insecurity_and_the_
COVID-19_pandemic.pdf.
153 Joint Center For Housing Studies Of Harvard
University, The State of the Nation’s Housing (June
2021), https://www.jchs.harvard.edu/sites/default/
files/reports/files/Harvard_JCHS_State_Nations_
Housing_2021.pdf.
154 Davin Reed and Eileen Divringi, Household
Rental Debt During COVID–19: Update for 2021,
Federal Reserve Bank of Philadelphia (2020),
available at: https://www.philadelphiafed.org/
community-development/housing-andneighborhoods/household-rental-debt-during-covid19-update-for-2021. Further, some research suggests that liquidity may be a more important predictor of
default than other factors, including income or
equity. See Trading Equity for Liquidity (June
2019), available at https://www.jpmorganchase.
com/content/dam/jpmc/jpmorgan-chase-and-co/
institute/pdf/institute-trading-equity-forliquidity.pdf.

The combination of a large number of
higher-income households who have
weathered the pandemic without
significant income losses, low interest
rates, and housing supply constraints
exacerbated by the pandemic, have
driven a sharp increase in the sale price
of homes.153 Meanwhile, many lowincome renters and homeowners are struggling with lost employment and
income and are behind on their housing
payments.154
Public Comment: Affordable Housing
Outside of Low-Income Geographies: A
major theme in comments was that
affordable housing interventions,
especially development of affordable
housing, should be allowed outside of
QCTs, as concentrating the supply of
affordable housing in low-income
geographies can have the effect of
increasing both concentrated poverty
and racial and economic segregation,
while locking lower-income households
in need of housing support out of highopportunity neighborhoods with access to employment and amenities.

Treasury Response: Affordable
Housing Outside Low-Income
Geographies: As previously stated,
affordable housing is not confined to
low-income geographies under the
interim final rule. As discussed
elsewhere, the interim final rule
presumed that QCTs, as well as
communities served by Tribal
governments, were disproportionately
impacted for administrative
convenience, but recipients may
identify other populations, households,
or geographic areas with disparate
impacts of COVID–19 and provide
affordable housing services to them. For
example, under the interim final rule, a
city could determine that its lowincome residents faced disproportionate impacts of COVID–19 and develop
affordable housing targeted to these
households. Such a scenario could
include, for example, affordable projects
in higher-income neighborhoods that
would allow residents to live closer to
jobs and well-resourced schools.

Additionally, as noted above,
Treasury is finalizing the rule with some
changes to the treatment of affordable
housing development designed to
clarify that permanent supportive
housing or other programs or services to
improve access to stable, affordable
housing among individuals who are
homeless, and the development of
affordable housing to increase supply of
affordable and high-quality living units,
are responsive to individuals and
households that were impacted by the
pandemic in addition to those that were
disproportionately impacted. This shift
is in line with commenters’
recommendations and consistent with
the facts described above, which
demonstrate that lack of supply of
affordable housing units contributed to
the pandemic’s impact on housing
insecurity and unsustainable housing
cost burdens and that these impacts
were experienced broadly across the
country.

Public Comment: Eligible Activities:

Many commenters asked for clarity on
what types of activities (e.g., land
acquisition, construction, preconstruction costs, operating costs, etc.) are eligible uses of SLFRF, and what
affordability criteria must be applied to
affordable housing development.

Commenters encouraged Treasury to
allow the full array of affordable
housing activities, including particular
requests for broad flexibility for Tribal
communities, and to specify that
‘‘development’’ should include
construction, preservation,
rehabilitation, and operation. Other
commenters requested clarification
about permissible program
administration approaches for
affordable housing, such as contracting
methods and distribution of funds.

Some commenters asked that
Treasury require SLFRF funds to be
focused on the lowest-income
households, who suffer the most severe
rent burdens and risks of housing
instability, and whose housing situation
has left them particularly vulnerable to
COVID–19. For example, one
commenter argued that SLFRF funds
should only be used to support
affordable housing for households
making 50 percent of AMI or less and
that recipients should be required to set
aside significant portions of any
developments for renters making 30
percent of AMI or less and persons with
physical and sensory disabilities. Other
commenters requested a more flexible
approach to affordable housing
definitions.

Treasury Response: Eligible Activities:

The final rule clarifies eligibility of
affordable housing development for
recipients; these uses were eligible
under the interim final rule, but
Treasury is providing further guidance
to enhance clarity and respond to
recipient and commenter questions.

As with all interventions to address
the negative economic impacts of the
pandemic, affordable housing projects
must be responsive and proportional to
the harm identified. This test may be
met by affordable housing development
projects—which may involve large
expenditures and capital investments—
if the developments increase the supply
of long-term affordable housing for lowincome households. While there may be less costly (or non-capital) alternatives
to affordable housing development, a
comprehensive response to the
widespread housing challenges
underscored by the pandemic will
require the production of additional
affordable homes, and targeted
affordable housing development is a
cost-effective and proportional response
to this need.

For purposes of this test, Treasury
will presume that any projects that
would be eligible for funding under
either the National Housing Trust Fund
(HTF) or the Home Investment
Partnerships Program (HOME) are
eligible uses of SLFRF funds. Note that
these programs use different income
limits than the definition of low- and
moderate-income adopted by Treasury.

Given the severity of the affordable
housing shortage, and the ways in
which the pandemic has exacerbated
the need for affordable, high-quality
dwelling units, Treasury has determined
that the households served by these
federal housing programs have been
impacted by the pandemic and its
negative economic impacts and that
development of affordable housing
consistent with these programs is a
related and reasonably proportional
response to those impacts. Additionally,
affordable housing projects provided by
a Tribal government are eligible uses of
SLFRF if they would be eligible for
funding under the Indian Housing Block
Grant program, the Indian Community
Development Block Grant program, or
the Bureau of Indian Affairs Housing
Improvement Program. Alignment with
these programs, which define
‘‘affordable housing’’ in a manner
consistent with a proportionate
response to the affordable housing
challenges faced by low- and moderateincome households as a result of the negative economic impacts of the
pandemic, is intended to give recipients
comfort and clarity as they design a
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3.A.5.a
Packet Pg. 147 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4367 155Stefan Pichler, Katherine Wen, and Nicolas R.

Ziebarth, COVID–19 Emergency Sick Leave Has
Helped Flatten The Curve In The United States:

Study examines the impact of emergency sick leave
on the spread of COVID–19, Health Affairs 39, no.
12 (2020): 2197–2204, https://www.health
affairs.org/doi/10.1377/hlthaff.2020.00863.
156Scott Brown et al., Employee and Worksite
Perspectives of the Family and Medical Leave Act:

Results from the 2018 Surveys, Abt Associates (July
2020), https://www.dol.gov/sites/dolgov/files/
OASP/evaluation/pdf/WHD_FMLA2018Survey
Results_FinalReport_Aug2020.pdf.
157 Id.
158Ann P. Bartel et al., Racial and ethnic
disparities in access to and use of paid family and
medical leave: evidence from four nationally
representative datasets, U.S. Bureau of Labor
Statistics (BLS) (January 2019), https://www.bls.gov/
opub/mlr/2019/article/racial-and-ethnicdisparities-in-access-to-and-use-of-paid-familyandmedical-leave.htm.

Continued
wide variety of affordable housing
interventions, including production,
rehabilitation, and preservation of
affordable rental housing and, in some
cases, affordable homeownership units.

These programs allow the financing of
a wide range of affordable housing
activities and set clear eligibility criteria
that many recipients are already familiar
with.

Finally, to further support sustainable
and durable homeownership, recipients
may consider offering down payment
assistance, such as through
contributions to a homeowner’s equity
at origination or that establish a postclosing, mortgage reserve account on behalf of the borrower that may be
utilized to make a missed or partial
mortgage payment at any point during
the life of the loan (e.g., if the borrower
faces financial stress). Homeownership
assistance that would be eligible under
the Community Development Block
Grant (at 24 CFR 507.201(n)) is also an
eligible use of SLFRF funds.

Public Comment: Permanent
Supportive Housing: Treasury has
received comments encouraging the use
of SLFRF funds for permanent
supportive housing. This is an eligible
use under the interim final rule: Both
the development of affordable housing
(including operating subsidies) and
wraparound services such as behavioral
health services, employment services,
and other supportive services, are
eligible responses to the public health
crisis or its negative economic impacts.

Treasury Response: The final rule
maintains the eligibility of permanent
supportive housing as an enumerated
use. Treasury is also clarifying that
other affordable housing developments
targeted to specialized populations are
also eligible, for example recovery
housing for individuals in recovery from
substance use.

Public Comment: Operating Expenses:

Commenters specifically asked that
Treasury allow the use of SLFRF funds
for operating expenses of affordable
housing units, as operating subsidies are
typically required to reach extremely
low-income households, whose
affordable rents may be lower than the
ongoing cost of operating their unit.

Treasury Response: Operating
expenses for eligible affordable housing
were an eligible use of funds under the
interim final rule and the final rule
maintains this treatment. This may
include capitalized operating reserves.

Rehabilitation and repair of public
housing will also be considered an
eligible use of SLFRF funds.

Public Comment: Affordable Housing
Loans and Revolving Loan Funds: Some
commenters requested that loans with
maturities beyond the period of
performance or revolving loan funds
that revolve beyond the period of
performance be eligible uses of SLFRF
funds if used for affordable housing.

Some commenters pointed out that forprofit developers of low-income housing through the Low-Income Housing Tax
Credit (LIHTC) may be deterred from
accepting grants to bridge funding gaps
in current LIHTC deals by the treatment
of grants to for-profit entities in the
calculation of eligible basis for the
LIHTC.

Treasury Response: The final rule
does not change the treatment of loans
from the interim final rule. For more
details see section Treatment of Loans
in Program Administration Provisions.

Similarly, the final rule does not change
the treatment of grants to support
affordable housing development,
including developments supported by
the LIHTC: such grants are an eligible
use of funds.

Additional enumerated eligible uses
for assistance to impacted households.

As noted above, the interim final rule
posed a question on what other types of
services or costs Treasury should
consider as eligible uses to respond to
the negative economic impacts of
COVID–19. In response, commenters
proposed a wide variety of additional
recommended enumerated eligible uses
to assist households, ranging from
general categories of services (e.g., legal
and social services) to services that
respond to needs widely experienced
across the country (e.g., access to and
affordability of health insurance) to
services that are most applicable to the
particularized needs of certain
populations or geographic areas of the
United States (e.g., senior citizens,
SNAP recipients, immigrants, formerlyincarcerated individuals, responding to environmental issues in certain
geographic regions). Other commenters
generally requested a high degree of
flexibility to respond to the particular
needs of their communities.

Treasury Response: Given the large
number and diversity of SLFRF
recipients, Treasury’s approach to
assistance to households in the final
rule aims to clarify additional
enumerated eligible uses that respond to
negative economic impacts of the
pandemic experienced widely in many
jurisdictions across the country, making
it clear and simple for recipients to
pursue these enumerated eligible uses
under the final rule. In the final rule,
Treasury is clarifying several additional
uses, which generally respond to
pandemic impacts experienced broadly
across jurisdictions and populations, are
eligible under the interim final rule as
assistance to households and continue
to be so under the final rule, as outlined
below.

11. Paid sick, medical, or family
leave.

Public Comment: Some commenters
argued that the pandemic increased the
need for paid sick or medical leave, as
staying home when ill is recommended
by the CDC to prevent spread of the
virus but lack of access to paid sick
leave often prevents workers from
staying home. Other commenters
recommended paid family leave as an
eligible use, arguing that shortages in
access to childcare or home health
assistance, as well as school closures,
may increase the need for family
members to serve as caretakers.

Background: The COVID–19
pandemic highlighted the importance of
paid leave as well as the number of
workers who do not have access to paid
sick and/or family leave. When workers
have access to paid leave, they are less
likely to report to work sick, and
therefore less likely to spread illnesses
in the workplace: One study
demonstrates that the emergency sick
leave provision of the Families First
Coronavirus Response Act (FFCRA)
reduced the spread of COVID–19.155
The lack of paid leave exacerbates
financial hardships experienced as a
result of the public health emergency. A
2018 survey by the Department of Labor
found that two-thirds of employees that
took unpaid or partial-paid leave
experienced financial hardship.156
Furthermore, because the Family and
Medical Leave Act (FMLA) excludes
small employers, part-time workers, and
workers who have been with their
employer for less than a year, 44 percent
of workers do not have access to even
unpaid leave.157 Workers of color and
workers with lower incomes are less
likely to have access to paid leave.158 159
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3.A.5.a
Packet Pg. 148 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4368 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 159U.S. Bureau of Labor Statistics, Employee
Benefits in the United States (March 2019), https://
www.bls.gov/ncs/ebs/benefits/2019/ownership/
civilian/table31a.pdf.
160Maya Rossin-Slater et al., Local exposure to
school shootings and youth antidepressant use,
Proceedings of the National Academy of Sciences,
vol 117(38), pages 23484–23489 (2020), https://
www.pnas.org/content/117/38/23484; Ariel Marek
Pihl and Gaetano Basso, Did California Paid Family
Leave Impact Infant Health?, Journal of Policy
Analysis and Management, https://onlinelibrary.
wiley.com/doi/abs/10.1002/pam.2210.
161 J.C. Jacobs, A. Laporte, C.H. Van Houtven, P.C.

Coyte, Caregiving intensity and retirement status in
Canada. Social Science & Medicine, 102, 74–82
(2014), https://www.sciencedirect.com/science/
article/abs/pii/S0277953613006631.
162E. Lightfoot, R.P. Moone, Caregiving in times
of uncertainty: Helping adult children of aging
parents find support during the COVID–19
outbreak, Journal of Gerontological Social Work,
63(6–7), 542–552 (2020), https://www.tandfon
line.com/doi/abs/10.1080/01634372.2020.1769793.
163Note: ‘‘Caregiving intensity’’ is defined as the
amount and type of care provided by informal
caregivers; ‘‘Caregiving burden’’ is defined as the
impacts on physical and mental health, and healthrelated quality of life of informal caregivers. 164SA Cohen, ZJ Kunicki, MM Drohan, ML
Greaney, Exploring Changes in Caregiver Burden
and Caregiving Intensity due to COVID–19,
Gerontology and Geriatric Medicine (January 2021),
doi:10.1177/2333721421999279.
165 Id.
166 Jennifer Tolbert et al., Key Facts about the
Uninsured Population, Kaiser Family Foundation
(November 6, 2020), https://www.kff.org/uninsured/
issue-brief/key-facts-about-the-uninsuredpopulation/. 167 Joshua Aarons et. al., As the COVID–19 Recession Extended into the Summer of 2020, More
Than 3 Million Adults Lost Employer-Sponsored
Health Insurance Coverage and 2 Million Became
Uninsured, Urban Institute (September 18, 2020),
https://www.urban.org/research/publication/covid19-recession-extended-summer-2020-more-3- million-adults-lost-employer-sponsored-healthinsurance-coverage-and-2-million-becameuninsured. 168Centers for Medicare and Medicaid Services,
Medicaid and CHIP Enrollment Trends Snapshot
through September 2020 (Washington: 2021),
available at https://www.medicaid.gov/sites/
default/files/2021-01/september-medicaid-chipenrollment-trend-snapshot.pdf. 169Centers for Medicare and Medicaid Services, 2021 Federal Health Insurance Exchange Weekly
Enrollment Snapshot: Final Snapshot (January 12,
2021) available at https://www.cms.gov/newsroom/
fact-sheets/2021-federal-health-insuranceexchange-weekly-enrollment-snapshot-finalsnapshot. 170Sara R. Collins, Munira Z. Gunja, and Gabriella N. Aboulafia, U.S. Health Insurance
Coverage in 2020: A Looming Crisis in Affordability
(New York: Commonwealth Fund, 2020), available
at https://www.commonwealthfund.org/
publications/issue-briefs/2020/aug/looming-crisishealth-coverage-2020-biennial. 171 Id. 172Federal Deposit Insurance Corporation, FDIC
National Survey of Unbanked and Underbanked
Households (2015), https://www.fdic.gov/household
survey/2015/2015execsumm.pdf.
173Federal Deposit Insurance Corporation, How
America Banks: Household Use of Banking and
Financial Services 2019 FDIC Survey, https://
www.fdic.gov/analysis/household-survey/
2019report.pdf.

For workers that are also caregivers
for children, seniors, or other family
members, there may be a similar need
for—and benefits of—paid family leave.

For example, some workers may have
struggled during the pandemic to
balance caring for children, as schools
and daycares closed, and working. For
new parents, paid parental leave results
in fewer infant hospitalizations,
lowering parental stress, increasing
parental involvement, and improving
the overall health of parent and child.160
COVID–19 has also increased the levels
of ‘‘caregiving intensity’’ 161 and
‘‘caregiving burden’’ 162 for those
providing care to seniors or older family
members.163 164 When surveyed, more
than half of caregivers reported that
COVID–19 increased both the amount of
caregiving responsibilities they had as
well as the negative physical and mental
impacts their caregiving responsibilities
had on themselves.165
Treasury Response: Treasury agrees
that these constitute impacts of the
pandemic, and accordingly, under the
final rule, creating, expanding, or
financially supporting paid sick,
medical, or family leave programs is an
enumerated eligible use of funds to
respond to the negative economic
impacts of the pandemic.

12. Health insurance.

Public Comment: Several commenters
recommended that uses of funds to
expand access to health insurance be
enumerated eligible uses; commenters
believed that the heightened risk of
illness or hospitalization due to COVID–
19 had increased the negative economic
impacts of lacking health insurance.

Background: In 2019, prior to the
pandemic, it was estimated that 11
percent of nonelderly adults lacked
health insurance.166 By mid-2020, job
loss had resulted in an estimated 3.3
million people losing their employer
sponsored insurance, resulting in an
additional 2 million uninsured
adults.167 Participation in Medicaid, the
Children’s Health Insurance Program
(CHIP), and the Affordable Care Act
(ACA) marketplace played an important
role in minimizing the number of
people who completely lost health
insurance during the early phases of the
pandemic; Medicaid and CHIP
enrollment increased by 9 percent from
February to September 2020 168 and 8.3
million people enrolled in insurance
through the ACA marketplace.169
Although the ACA, CHIP, and
Medicaid have significantly reduced the
number of uninsured Americans
through the pandemic and the economic
downturn, adequate coverage and
affordability still remains an issue for
many. In 2020, 21 percent of workingage adults were inadequately insured, meaning even if they had insurance,
they incurred a significant amount of
out-of-pocket costs.170 Additionally, 37
percent of adults reported struggling
with medical bills or medical debt and
71 percent of adults who did not
purchase insurance cited affordability as
the main factor.171
Treasury Response: Treasury agrees
that loss of health insurance, increased
financial risk from lacking health
insurance, or excessive out-of-pocket
healthcare costs constitute negative
economic impacts of the pandemic.

Under the final rule, programs or
services to expand access to health
insurance coverage are an enumerated
eligible use as assistance to households,
for example, subsidies for health
insurance premiums or expansion of a
recipient’s health insurance plan to
cover additional employees who
currently lack coverage.

13. Services for the unbanked and
underbanked.

Public Comment: One commenter
expressed support for the inclusion of
services to increase banking access as an
allowable expense under SLFRF. The
commenter recommended that states be
encouraged to offer opportunities for
consumers to open safe and affordable
accounts capable of receiving direct
payments. The commenter emphasized
that allowing unbanked and
underbanked households to receive
funds securely through no-fee, direct
deposit will help connect or reconnect
consumers to the mainstream financial
system.

Background: Banking inequities can
make it difficult for unbanked or
underbanked households to access
housing, jobs, and other important
economic opportunities. Being
unbanked or underbanked can also
make it challenging for households to
apply for and receive financial
assistance, including services like
pandemic emergency housing
assistance.

Safe, affordable, and accessible
financial services play a critical role in
assisting households in the United
States in managing income volatility
and cash flow shortages.172 Currently,
over 5 percent of families, or 7 million
households are ‘‘unbanked,’’ meaning
they do not have a bank account.173
Low-income households, non-white
households, and households with
individuals with disabilities were even
more likely to be unbanked. In 2019, 16
percent of Native American households,
14 percent of Black households, and 12
percent of Hispanic households were
unbanked, compared to 2.5 percent of
white households. Additionally,
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3.A.5.a
Packet Pg. 149 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4369 174Board of the Governors of the Federal Reserve
System, Report on the Economic Well-Being of U.S.

Households in 2018–May 2019, https://www.federal
reserve.gov/publications/2019-economic-well-beingof-us-households-in-2018-banking-and-credit.htm. 175Zaheer Allam, The Forceful Reevaluation of
Cash-Based Transactions by COVID–19 and Its
Opportunities to Transition to Cashless Systems in
Digital Urban Networks. Surveying the Covid-19
Pandemic and its Implications (2020): 107–117.
doi:10.1016/B978–0–12–824313–8.00008–5.
176Bureau of Labor Statistics, Labor Force
Statistics from the Current Population Survey:

Concepts and Definitions, https://www.bls.gov/cps/
definitions.htm (last visited November 9, 2021). 177 Id. underbanked households—those that
have a bank account but rely on
alternative financial services, such as
money orders, payday loans, and check
cashing services— account for 16
percent of all households in the United
States.174 As a result of the COVID–19
pandemic, new social distancing
protocols have, in some instances, made
it more difficult to perform financial
transactions with paper instruments,
like banknotes, coinage, paper checks,
or money orders. Households
constrained to these payment methods
may face challenges receiving
government assistance. Additionally,
businesses have transitioned to cashless
payments systems to promote
contactless payments.175 As a result,
unbanked individuals may face
additional challenges conducting
financial transactions.

Treasury Response: Recognizing these
challenges, Treasury is clarifying that
recipients may use SLFRF funds to
provide financial services that facilitate
the delivery of federal, state, or local
benefits (e.g., Child Tax Credit, Earned
Income Tax Credit, tax refunds, or
emergency housing or food assistance
funds). The following includes a nonexhaustive list of uses to provide financial services to unbanked and
underbanked households:
• Provide low or no cost financial
services, including in conjunction with
administration of benefits, such as prepaid debit cards, e.g., via Economic Impact Payment or General Purpose
Reloadable pre-paid cards or for the
development of public banking
infrastructure that can support benefit
delivery.
• Provide transitional services to
facilitate long-term access to banking
and financial services.
• Provide financial literacy programs
and conduct community outreach and
deploy engagement resources to
increase awareness about low-cost, nooverdraft fee accounts, pilot new strategies and approaches that help
overcome barriers to banking access and
support the gathering and sharing of
information in ways that improve
equity, such as community meetings,
partnerships with community-based
organizations, online surveys, focus
groups, human-centered design
activities, and other community
engagement activities.

Assistance to Unemployed and
Underemployed Workers
The interim final rule included
assistance to unemployed workers as an
enumerated eligible use, including
‘‘services like job training to accelerate
rehiring of unemployed workers.’’
Treasury provided further guidance,
based on recipient questions after the
interim final rule, that eligible uses
under this section also include ‘‘other
efforts to accelerate rehiring and thus
reduce unemployment, such as
childcare assistance, assistance with
transportation to and from a jobsite or
interview, and incentives for newly
employed workers[,]’’ as well as
assistance to unemployed workers
seeking to start small businesses.

Finally, further guidance also provided
that ‘‘public jobs programs, subsidized
employment, combined education and
on-the-job training programs, or job
training to accelerate rehiring or address
negative economic or public health
impacts experienced due to a worker’s
occupation or level of training’’ are all
enumerated eligible uses as assistance to
unemployed or underemployed
workers.

The interim final rule defined eligible
beneficiaries of assistance as
‘‘individuals who want and are
available for work, including those who
have looked for work sometime in the
past 12 months or who are employed
part time but who want and are
available for full-time work.’’ This
definition is based on definitions used
by the Bureau of Labor Statistics to
define individuals currently
unemployed, as well as persons
marginally attached to the labor force
and working part-time for economic
reasons.176 The latter two classifications
are types of labor underutilization, or
‘‘underemployed’’ workers.177 Finally,
the interim final rule specified that
assistance to unemployed workers
included both workers who lost their
job during the pandemic and resulting
recession and workers unemployed
when the pandemic began who saw
further deterioration of their economic
prospects due to the pandemic.

Public Comment: Commenters
generally supported the inclusion of this
enumerated eligible use. One
commenter recommended including
assistance for underemployed workers
who took jobs due to the pandemic that
did not fully utilize their skillset or did
not provide the hours, wages, or job
quality desired. Treasury has also
received recipient questions on whether
job fairs or grants to businesses to hire
underserved workers are eligible uses
under this category. Another commenter
recommended flexibility in eligible
workforce development programs,
arguing that rural areas may face
particular challenges.

Treasury Response: Treasury is
maintaining this eligible use in the final
rule, including the enumerated eligible
services in the interim final rule and
subsequent guidance. Treasury is also
confirming that job fairs or grants to
businesses to hire underserved workers
are eligible uses under this section.

Treasury is also enumerating that job
and workforce training centers are
eligible capital expenditures, so long as
they adhere to the standards and
presumptions detailed in the section
Capital Expenditures in General
Provisions: Other.

The final rule maintains the definition
of eligible beneficiaries, which is
aligned with the Bureau of Labor
Statistics’ definitions of unemployed
workers and other labor
underutilization, using a common,
widely known definition that
incorporates a broad group of
individuals both unemployed or whose
skills are otherwise underutilized in the
labor market.

In addition, recognizing that the
pandemic has generated broad
workforce disruption, in the final rule,
Treasury is making clear that recipients
may provide job training or other
enumerated types of assistance to
individuals that are currently employed
but are seeking to move to a job that
provides better opportunities for
economic advancement, such as higher
wages or more opportunities for career
advancement.

Recipient Unemployment Insurance
Trust Funds and Related Expenses
Under the interim final rule, a
recipient may use funds to make
deposits into its account of the
Unemployment Trust Fund established
under section 904 of the Social Security
Act (42 U.S.C. 1104) up to the level
needed to restore the pre-pandemic
balance of such account as of January
27, 2020 or to pay back advances
received under Title XII of the Social
Security Act (42 U.S.C. 1321) for the
payment of benefits between January 27,
2020 and May 17, 2021. These costs
support the solvency of the
unemployment insurance system and,
ultimately, unemployment insurance
benefits provided to unemployed
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3.A.5.a
Packet Pg. 150 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4370 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 178Note that, while the economic harm being
addressed accrued before March 3, 2021, the cost
incurred to address the harm occurs after March 3,
2021 and provides assistance to unemployed
workers, an eligible use of SLFRF funds.
179See, e.g., U.S. Department of the Treasury,
More Information on the Conclusion of the Public
Comment Period and the Interim Final Rule on the
Coronavirus State and Local Fiscal Recovery Funds,
https://home.treasury.gov/system/files/136/IFRExplainer.pdf. workers during the pandemic.178 The
interim final rule also posed the
question of what, if any, conditions
should be considered to ensure that
funds used under this eligible use
category repair economic impacts of the
pandemic and strengthen
unemployment insurance systems.

Public Comment: Inclusion as an
Eligible Use and Conditions:

Commenters expressed mixed
perspectives on this eligible use
category. Some commenters supported
its inclusion, arguing that
unemployment insurance systems have
faced significant costs to support
unemployed workers during the
pandemic and that this constitutes a
negative economic impact that SLFRF
funds should be able to address. Other
commenters opposed this eligible use
category, arguing that funds used under
this category may not ultimately support
unemployed workers. Some
commenters noted that unemployment
insurance taxes on businesses
automatically increase when trust fund
balances are low and suggested that
permitting the deposit of funds into
unemployment insurance trust funds
prevents a tax increase on businesses,
some of which may not have faced
negative economic impacts from the
pandemic, rather than providing
assistance to unemployed workers.

Other comments suggested that deposits
are better thought of as savings for
future needs than assistance to
unemployed workers in the near term.

Responding to the interim final rule’s
question, several commenters suggested
that, if Treasury maintains this eligible
use, the final rule should require
detailed reporting on funds used under
this category or place conditions on this
category to increase the likelihood that
funds ultimately support unemployed
workers. For example, some
commenters suggested that recipients
that deposit SLFRF funds into their trust
fund should be barred from cutting
unemployment insurance benefits for
workers during the period of
performance or from erecting new
barriers to accessing benefits (e.g.,
through the application process and
ongoing requirements to receive
benefits). One commenter, noting that
unemployment insurance benefits often
provide low rates of wage replacement
and do not cover some types of
unemployed workers, argued that
recipients should not be permitted to
deposit funds into the trust fund unless
the recipient concurrently expands
benefits. Finally, one commenter
suggested a cap on the amount of funds
that can be used for this purpose.

Treasury Response: Inclusion as an
Eligible Use and Conditions: In the final
rule, Treasury is maintaining the
inclusion of this eligible use category.

Because unemployment insurance trust
funds directly fund benefits to
unemployed workers, maintaining the
solvency of the trust fund is critical to
the continued provision of assistance to
unemployed workers. Further, funds
deposited into the trust fund must be
used as assistance to unemployed
workers, an eligible use of SLFRF funds.

Finally, while, in the absence of the
SLFRF, trust fund deposits would likely
be funded through increases on
employer payroll taxes, the eligibility of
uses of SLFRF funds does not depend
on how obligations would otherwise be
satisfied if the SLFRF were not available
for this use.

While deposits to unemployment
insurance trust funds generally serve as
assistance to unemployed workers,
recipients that make deposits but also
cut unemployment insurance benefits to
workers substantially decrease the
likelihood that the deposited funds will
assist unemployed workers. In other
words, SLFRF funds deposited into an
unemployment insurance trust fund
generally serve as assistance to
unemployed workers, unless recipients
take policy actions that substantially
decrease the extent to which SLFRF
funds would flow to unemployed
workers. As such, through December 31,
2024, recipients that deposit SLFRF
funds into an unemployment insurance
trust fund or use SLFRF funds to repay
principal on Title XII advances, may not
take action to reduce benefits available
to unemployed workers by changing the
computation method governing regular
unemployment compensation in a way
that results in a reduction of average
weekly benefit amounts or the number
of weeks of benefits payable (i.e., the
maximum benefit entitlement).

Finally, until the final rule becomes
effective on April 1, 2022, the interim
final rule remains binding and
effective.179 These requirements were
not in effect under the interim final rule
and do not apply to funds used (i.e.,
obligated or expended) under the
interim final rule while it is in effect. In
addition, recognizing that some
recipients have taken significant steps
toward making a trust fund deposit or
repaying principal on Title XII advances
under the interim final rule, such as the
legislative appropriation of funds for
this purpose, even if a formal obligation
has not occurred, Treasury will exercise
enforcement discretion to not pursue
violations of this final rule provision
(i.e., the requirement not to reduce
benefits) for recipients that have
appropriated funds for this purpose
prior to the date of adoption of the final
rule consistent with the laws and
procedures in their jurisdiction.

Recipients should refer to Treasury’s
Statement Regarding Compliance with
the Coronavirus State and Local Fiscal
Recovery Funds Interim Final Rule and
Final Rule, which provides additional
detail on these issues.

Public Comment and Treasury
Response: Technical Corrections and
Amendments: Following the interim
final rule, Treasury received recipient
questions on whether paying interest on
advances received under Title XII of the
Social Security Act (42 U.S.C. 1321) is
an eligible use of SLFRF funds; Treasury
is clarifying that such use is
permissible, consistent with Treasury’s
treatment of the eligibility of interest on
Title XII advances under the
Coronavirus Relief Fund.

Treasury is further clarifying that
recipients may only use SLFRF funds
for contributions to unemployment
insurance trust funds and repayment of
the principal amount due on advances
received under Title XII of the Social
Security Act up to an amount equal to
(i) the difference between the balance in
the recipient’s unemployment insurance
trust fund as of January 27, 2020 and the
balance of such account as of May 17,
2021, plus (ii) the principal amount
outstanding as of May 17, 2021 on any
advances received under Title XII of the
Social Security Act between January 27,
2020 and May 17, 2021. Further,
recipients may use SLFRF funds for the
payment of any interest due on such
Title XII advances. In other words,
excluding interest due on Title XII
advances, the magnitude of the decrease
of the balance in the unemployment
insurance trust fund plus the principal
outstanding on any Title XII borrowings
made from the beginning of the public
health emergency to the date of
publication of the SLFRF interim final
rule sets a cap on the amount of SLFRF
funds a recipient may use for trust fund
contributions and repayment of
principal on Title XII advances. Further,
a recipient that deposits SLFRF funds
into its unemployment insurance trust
fund to fully restore the pre-pandemic
balance may not draw down that
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3.A.5.a
Packet Pg. 151 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4371 180U.S. Department of Health and Human
Services, COVID–19 and Economic Opportunity:

Inequities in the Employment Crisis, April 2021.

Retrieved from https://aspe.hhs.gov/sites/default/
files/migrated_legacy_files//199901/covideconomic-equity-brief.pdf. 181Adelle Simmons et al., Health disparities by
race and ethnicity during the COVID–19 pandemic:

Current evidence and policy approaches. U.S.

Department of Health and Human Services https://
aspe.hhs.gov/sites/default/files/migrated_legacy_
files//199516/covid-equity-issue-brief.pdf.
182Perry, Brea L., Brian Aronson, and Bernice A.

Pescosolido, Pandemic precarity: COVID–19 is
exposing and exacerbating inequalities in the
American heartland, National Academy of Sciences
(Febuary 2021), https://www.pnas.org/content/118/
8/e2020685118.
183 Id.
184 Jesse Bennet & Rakesh Kochhar, Two
Recessions, Two Recoveries, Pew Research Center
(December 13, 2019), https://www.pewresearch.org/
social-trends/2019/12/13/two-recessions-tworecoveries-2/. 185 Darrick Hamilton et al., Building an Equitable
Recovery: The role of Race, Labor Markets, and
Education, The New School’s Institute on Race and
Political Economy (February 2021).
186Adhikari S, Pantaleo NP, Feldman JM,
Ogedegbe O, Thorpe L, Troxel AB. Assessment of
Community-Level Disparities in Coronavirus
Disease 2019 (COVID–19) Infections and Deaths in
Large US Metropolitan Areas. JAMA Netw Open.
2020;3(7):e2016938. doi:10.1001/
jamanetworkopen.2020.16938.
balance and deposit more SLFRF funds,
back up to the pre-pandemic balance.

Enumerated Eligible Uses for
Disproportionately Impacted
Households
Background
The COVID–19 pandemic has had
disproportionally negative impacts on
many households and communities that
were already experiencing inequality
related to race, gender, age, or income
before the pandemic. People of color,
low-income workers, and women
disproportionately lost their jobs during
the COVID–19 pandemic and
experienced disproportionate rates of
negative health outcomes.180 181
These disproportionate negative
impacts experienced by systemically
underserved communities are not novel
to the COVID–19 pandemic and the
economic downturn. Research shows
that historically underserved
communities that are experiencing
economic and social disparities
typically experience disproportionate
impacts of economic downturns and
natural disasters.182 This pattern held
true for the effects of COVID–19 and the
economic downturn: Historically
undeserved groups experienced
amplified negative impacts, further
widening inequality.183
Many communities facing systemic
barriers had not yet recovered from the
impact of the Great Recession before
experiencing the impacts of COVID–19
and the economic downturn. For
example, in 2009, at the end of the Great
Recession, households without a high
school diploma had an average annual
income of $32,300 (measured in 2018
dollars). By 2018, nine years into the
economic recovery, those same
households saw their average income
increase by $600. During that same time
period, households with a bachelor’s
degree saw an increase in their average
household income of $6,100 (measured
in 2018 dollars).184
The impact pre-existing inequalities
have on a household or community’s
ability to recover is intersectional.

Research shows that pre-existing racial
and gender disparities exacerbated the
disproportionate economic and health
impact COVID–19 and the economic
downturn had on workers of color, and
specifically, women of color.185 Another
study found that during the first six
months of the pandemic counties that
were both high-poverty and majority
non-white experienced COVID–19
infection rates eight times higher than
high-poverty, majority white
counties.186 Many residents in these
communities are still coping with the
negative health and economic impacts.

Summary of the Interim Final Rule and
Final Rule Structure
As described previously, the interim
final rule provided a broader list of
enumerated eligible uses to respond to
the pandemic in disproportionately
impacted communities, in recognition
that pre-existing health, economic, and
social disparities contributed to
disproportionate pandemic impacts in
certain communities and that
addressing the root causes of those
disparities constitutes responding to the
public health and negative economic
impacts of the pandemic. The interim
final rule described eligible uses in
disproportionately impacted
communities in four categories, spread
across public health and negative
economic impacts: (1) Addressing
disparities in public health outcomes,
(2) building stronger communities
through investments in housing and
neighborhoods, (3) addressing
educational disparities, and (4)
promoting healthy childhood
environments. As described above,
Treasury has moved eligible uses related
to community violence intervention,
assistance accessing or applying to
public benefits and services, affordable
housing development, healthy
childhood environments, and
addressing lost instructional time in K–
12 schools into the category ‘‘assistance
to impacted households,’’ recognizing
that these pandemic impacts were
widely shared across the country.

This section discusses enumerated
eligible uses to address health
disparities, to build stronger
communities through investments in
neighborhoods, to address educational
disparities, to provide rental assistance
vouchers or assistance relocating to
areas of greater economic opportunity,
and additional eligible uses to respond
to negative economic impacts in
disproportionately impacted
communities. While many of these
services impact both health and
economic outcomes, Treasury has
consolidated them into a single section
for simplicity and clarity and to reflect
the intertwined nature of these issues.

As a reminder, recipients can
presume these uses are eligible when
provided in a QCT, to families and
individuals living in QCTs, by Tribal or
territorial governments, or to lowincome households or communities. As provided in section Standards:

Designating Other Disproportionately
Impacted Classes, recipients can also
provide these services to other
populations, households, or geographic
areas disproportionately impacted by
the pandemic. Recipients may also
identify additional disproportionate
impacts of the pandemic and design an
appropriate response to address that
harm. For details on eligibility
standards and presumed eligible
populations, see section General
Provisions: Structure and Standards.

Enumerated Eligible Uses for
Disproportionately Impacted
Households

1. Addressing health disparities.

Public Comment: General: In general,
commenters supported eligible uses to
address health disparities and support
health equity; several commenters
highlighted the disparities faced by
communities of color and low-income
populations, as well as the importance
of community engagement in
developing effective programs to serve
disproportionately impacted
communities. Many commenters
recommended additional enumerated
eligible uses to address health
disparities; these are discussed further
below in this section.

Treasury Response: In line with
commenters’ recommendations, the
final rule maintains several enumerated
eligible uses to address health
disparities, specifically:
a. Community health workers.

Treasury received few comments on
community health workers, though one
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3.A.5.a
Packet Pg. 152 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) 4372 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 187See, e.g., Centers for Disease Control and
Prevention, Community Health Worker (CHW)
Toolkit, https://www.cdc.gov/dhdsp/pubs/toolkits/
chw-toolkit.htm (last visited November 9, 2021).
188Environmental Protection Agency, 40 CFR
141.80(c)(1), https://www.ecfr.gov/current/title-40/
chapter-I/subchapter-D/part-141/subpart-I/section141.80. 189See, e.g., Opportunity Insights, Creating Moves
To Opportunity (August 2019), https://
opportunityinsights.org/policy/cmto/.
190U.S. Department of Health and Human
Services, Neighborhood and Built Environment,
https://health.gov/healthypeople/objectives-anddata/browse-objectives/neighborhood-and-builtenvironment#cit1 (last visited November 9, 2021). 191Social determinants of health are ‘‘the
conditions in the places where people live, learn,
work, and play that affect a wide range of health
risks and outcomes.’’ Centers for Disease Control
and Prevention, About Social Determinants of
Health (SDOH), https://www.cdc.gov/social
determinants/about.html (last visited November 9,
2021).
192 In public health, this is referred to as ‘‘built
environment,’’ or the man-made physical aspects of
a community (e.g., homes, buildings, streets, open
spaces, and infrastructure).
requested further clarification on their
role.187 Treasury is maintaining this
eligible use in the final rule.
b. Remediation of lead paint or other
lead hazards. The interim final rule
included remediation of lead paint or
other lead hazards as an enumerated
eligible use to address health
disparities.

Public Comment: Treasury received
several comments asking for
clarification on the eligibility of a
particular use that would indirectly
address lead pollution. For example, a
commenter requested the ability to fund
remedial actions, such as filtration and
plumbing procedures to help address
lead pollution. One commenter
requested that private wells be eligible
for funding to address contamination
with substances such as lead. Other
commenters requested that Treasury
allow replacement of lead pipes as an
eligible use of funds.

Treasury Response: Recipients may
make a broad range of water
infrastructure investments under section
602(c)(1)(d) and 603(c)(1)(d), which can
include lead service line replacement
and other activities to identify and
remediate lead in water. These uses are
discussed in greater detail in section
Water and Sewer Infrastructure of this
Supplemental Information.

Treasury has further determined that
several of the services identified by
commenters are appropriate responses
to address health disparities in
disproportionately impacted
households. These services were eligible
under the interim final rule and
continue to be so under the final rule.

These services include remediation to
address lead-based public health risk
factors, outside of lead in water,
including evaluation and remediation of
lead paint, dust, or soil hazards; testing
for blood lead levels; public outreach
and education; and emergency
protection measures, like bottled water
and water filters, in areas with an action
level exceedance for lead in water in
accordance with the Environmental
Protection Agency’s Lead and Copper
Rule.188
Further, Treasury had determined that
certain capital expenditures, including
improvements to existing facilities to
remediate lead contaminants (e.g.,
removal of lead paint), are eligible
responses, although this does not
include construction of new facilities
for the purpose of lead remediation.

Recipients should make sure that all
capital expenditures adhere to the
standards and presumptions detailed in
section Capital Expenditures in General
Provisions: Other.
c. Medical facilities. Treasury
received a few comments from
recipients seeking to use SLFRF funds
to build new medical facilities, such as
hospitals or public health clinics, to
serve disproportionately impacted
communities. Given the central role of
access to high-quality medical care in
reducing health disparities and
addressing the root causes that led to
disproportionate impact COVID–19
health impacts in certain communities,
the final rule recognizes that medical
equipment and facilities designed to
address disparities in public health
outcomes are eligible capital
expenditures. This includes primary
care clinics, hospitals, or integrations of
health services into other settings.

Recipients should make sure that all
capital expenditures adhere to the
standards and presumptions detailed in
section Capital Expenditures in General
Provisions: Other.

2. Housing vouchers and assistance
relocating. In addition to other housing
services, the interim final rule permitted
a variety of rental assistance approaches
to support low-income households in
securing stable, long-term housing,
including housing vouchers, residential
counseling, or housing navigation
assistance to facilitate household moves
to neighborhoods with high levels of
economic opportunity and mobility for
low-income residents. Examples could
include SLFRF-funded analogues to
Section 8 Housing Choice vouchers;
other kinds of rent subsidies, including
shallow subsidies; and programs to help
residents move to areas with higher
levels of economic mobility.189 Treasury
did not receive public comments on
these enumerated eligible uses.

Treasury Response: Treasury
maintains the eligibility of vouchers and
relocation assistance in the final rule.

3. Building strong, healthy
communities through investments in
neighborhoods. While the interim final
rule included a category of enumerated
eligible uses for ‘‘building stronger
communities through investments in
housing and neighborhoods,’’ the
examples of services provided generally
focused on housing uses. In response to
questions following release of the
interim final rule, Treasury issued
further guidance clarifying that
‘‘investments in parks, public plazas,
and other public outdoor recreation
spaces may be responsive to the needs
of disproportionately impacted
communities by promoting healthier
living environments.’’
Public Comment: General: A
significant theme across many public
comments was the importance of
neighborhood environment to health
and economic outcomes and the
potential connections between
residence in an underserved
neighborhood and disproportionate
impacts from the pandemic. Many
commenters highlighted the connection
between neighborhoods and health
outcomes, including citing public health
research linking neighborhood traits to
health outcomes. For example, the CDC
states that ‘‘neighborhoods people live
in have a major impact on their health
and well-being.’’ 190 As such, CDC
identifies ‘‘neighborhoods and built
environment’’ as one of five key social
determinants of health 191 and includes
‘‘creat[ing] neighborhoods and
environments that promote health and
safety’’ as one of the agency’s goals for
social determinants of health outcomes.
a. Neighborhood features that
promote improved health and safety
outcomes.

Public Comment: Commenters argued
that neighborhoods impact physical
health outcomes in several ways. First,
some commenters reasoned that the
physical environment and amenities in
a community 192 influence a person’s
level of physical activity, with features
like parks, recreation facilities, and safe
sidewalks promoting increased physical
activity that improves health outcomes.

Conversely, commenters argued that a
lack of these features in a neighborhood
could dampen physical activity and
contribute to health conditions like
obesity that are risk factors for more
severe COVID–19 health outcomes.

Second, some commenters also
suggested that access to healthy food in
a neighborhood impacts health
outcomes. These commenters reasoned
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3.A.5.a
Packet Pg. 153 Attachment: San Jacinto ARPA Infrastructure Funding Agreement (ARPA Agreement with Riverside County) Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Rules and Regulations 4373 193 J Beaulac, E Kristjansson, S Cummins, A
systematic review of food deserts, 1966–2007, Prev
Chronic Dis 2009;6(3):A105, http://www.cdc.gov/
pcd/issues/2009/jul/08_0163.htm.
194See, e.g., Yijun Zhang et al. The Association
between Green Space and Adolescents’ Mental
Well-Being: A Systematic Review. International
journal of environmental research and public health
vol. 17,18 6640 (Sep. 11 2020), doi:10.3390/
ijerph17186640; EC South, BC Hohl, MC Kondo, JM
MacDonald, CC Branas, Effect of Greening Vacant
Land on Mental Health of Community-Dwelling
Adults: A Cluster Randomized Trial, JAMA Netw
Open. 2018;1(3):e180298 (2018), available at:
doi:10.1001/jamanetworkopen.2018.0298.
195See, e.g., Yanqing Xu, Cong Fu, Eugene
Kennedy, Shanhe Jiang, Samuel Owusu-Agyemang,
The impact of street lights on spatial-temporal
patterns of crime in Detroit, Michigan, Cities,
Volume 79, Pages 45–52, ISSN 0264–2751 (2018),
https://doi.org/10.1016/j.cities.2018.02.021.
196A. Chalfin, B. Hansen, J. Lerner et al.,
Reducing Crime Through Environmental Design:

Evidence from a Randomized Experiment of Street
Lighting in New York City, Journal of Quantitative
Criminology (2021), https://doi.org/10.1007/s10940-
020-09490-6.
197See, e.g., American Public Health Association,
Improving Health and Wellness through Access to
Nature (November 5, 2013), https://www.apha.org/
policies-and-advocacy/public-health-policystatements/policy-database/2014/07/08/09/18/ improving-health-and-wellness-through-access-tonature. 198LR Larson et al., Urban Park Use During the
COVID–19 Pandemic: Are Socially Vulnerable
Communities Disproportionately Impacted?, Front.

San Jacinto City CouncilApril 2, 2024

San Jacinto City Council
April 2, 2024