Agenda packet — City Council Finance Committee, October 16, 2023

City of San Ramon

FINANCE COMMITTEE
AGENDA
Mark Armstrong, Chair • Scott Perkins, Vice Chair
City Hall - Training Room, First Floor
7000 Bollinger Canyon Road
Regular Meeting
4:00 PM
October 16, 2023
AGENDA QUESTIONS:

PLEASE CALL THE ADMINISTRATIVE SERVICES DIRECTOR AT (925) 973-2576

1. CALL TO ORDER

2. PUBLIC COMMENT
At this time, members of the public are encouraged to address the Committee on any item not already included on the agenda. Comments should not exceed three (3) minutes. No Committee action can be taken at this meeting on issues raised during public comment.

Written comments submitted were provided to the Committee prior to the start of this meeting. Written public comment will not be read aloud during the meeting.

3. APPROVAL OF MINUTES

3.1 Finance Committee - Regular Meeting - September 11, 2023

4. UNFINISHED BUSINESS

5. NEW BUSINESS

5.1 Approve the Addition of One Full-Time Two-Year Limited Term Office Specialist and One Full-Time Two-Year Limited Term Plans Examiner.

Report by Vance Phillips, Chief Building Official

5.2 Amendment No. 1 to the West Coast Code Consultants, Inc. Agreement for Staffing and Plan Check Services in the Amount of $800,000 for a Total Amount Not to Exceed $1,600,000 and Extend the Contract through June 30, 2026.

Report by Vance Phillips, Chief Building Official

5.3 City of San Ramon Quarterly Revenue and Expenditure Reports FY23/24 Q1 Ending September 30, 2023
Report by Candace Daniels, Finance Division Manager
2 Finance Committee Meeting – October 16, 2023

5.4 City of San Ramon Quarterly Investment Report (Period Ending September 30, 2023) Report by Candace Daniels, Finance Division Manager

5.5 Preliminary and Unaudited General Fund Financial Results for FY 2022-2023 Report by Candace Daniels, Finance Division Manager

6. COMMITTEE MEMBER COMMENTS

7. ADJOURNMENT
I hereby certify that the agenda was posted 72 hours before the noted meeting. To make a request for disability-related accommodation to participate in the meeting, please contact the City Clerk’s Office 48 hours in advance of the meeting at 925-973-2539 or [email protected].

Dated: October 13, 2023

ATTENDEE CONDUCT
There will be zero tolerance for any person addressing the Committee making profane, offensive and disruptive remarks, or engaging in loud, boisterous, or other disorderly conduct, that disrupts the orderly conduct of the public meeting. Specifically, it is important for all speakers to adhere to the following guidelines for participation in this meeting:
a. No profanity or obscenity
b. Refrain from personal threats or attacks.
c. Refrain from hateful epithets and demeaning language based on any person’s race, religion, sexual orientation, ethnicity, gender, or disability. d. Respect all people that are present.

At the discretion of the Committee Chair, a speaker may forfeit speaking time for any of the following reasons:
a. Exceeding the allotted time to speak;
b. Yelling, screaming, or other behavior that renders this Committee unable to continue the meeting;
c. Excessive profanity or slander; Specific threats or “fighting words” that incite violence; or
d. Speech that is outside the subject matter jurisdiction of the Committee or the specific agenda item in which you are speaking.

MINUTES OF THE

CITY OF SAN RAMON FINANCE COMMITTEE
September 11, 2023

1. CALL TO ORDER
The meeting was called to order at 3:00 PM.

Attendee Name Title Status Arrived
Mark Armstrong Chair Present
Scott Perkins Vice Chair Present
Debbie Chamberlain, Community Development Director
Candace Daniels, Finance Division Manager
Diego Munoz, Accountant
Nicki MacPherson, Accounting Specialist
Kelly Sessions, Administrative Services Director

2. PUBLIC COMMENT

3. APPROVAL OF MINUTES

3.1 Finance Committee - Special Meeting - Jul 17, 2023 1:30 PM RESULT: ACCEPTED [UNANIMOUS]
AYES: Armstrong, Perkins

4. UNFINISHED BUSINESS

5. NEW BUSINESS

5.1 Comprehensive User Fee Study and Overhead Cost Allocation Analysis Staff Report by Kelly Sessions, Administrative Service Director RESULT: REPORT RECEIVED

5.2 Approval of the Updated Purchasing Policy
Staff Report by Kelly Sessions, Administrative Service Director RESULT: APPROVED [UNANIMOUS]
AYES: Armstrong, Perkins

3.1 Packet Pg. 3
Minutes Acceptance: Minutes of Sep 11, 2023 3:00 PM (APPROVAL OF MINUTES) 2 Finance Committee Meeting – September 11, 2023

5.3 California Employer’s Benefit Trust (CERBT) for the Period Ending June 30, 2023
Staff Report by Candace Daniels, Finance Division Manager RESULT: REPORT RECEIVED

6. COMMITTEE MEMBER COMMENTS

7. ADJOURNMENT
The next Finance Committee Meeting is scheduled for October 16, 2023.

3.1 Packet Pg. 4
Minutes Acceptance: Minutes of Sep 11, 2023 3:00 PM (APPROVAL OF MINUTES)

FINANCE COMMITTEE STAFF REPORT
DATE: October 16, 2023
TO: Finance Committee/City Manager
FROM: Debbie Chamberlain, Community Development Director By: Vance Phillips, Chief Building Official
SUBJECT: Approve the Addition of One Full-Time Two-Year Limited Term Office Specialist and One Full-Time Two-Year Limited Term Plans Examiner.

RECOMMENDED ACTION
Staff recommends that the Finance Committee review the staff report proposing the addition of one full-time two-year limited term Office Specialist and one full-time two-year limited term Plans Examiner.

BACKGROUND/DISCUSSION
As part of the Fiscal Year 2023/24 Budget, City Council approved Building and Safety Services Division staffing that included three Office Specialist, one Plans Examiner and one Senior Structural Engineer. These staff route plans for plan review, process and route all permit applications, check plans and documents for code compliance, coordinate contractor declaration information, create plan check and permit invoices and coordinate related contractor and homeowner documents.

The processing times to perform these tasks has steadily increased over the past three years as state regulations changed, creating additional code and processing verification and our method of processing changed to an all-online process. The previous processing times were one to ten days for easy, over-the-counter-type projects, remodels and additions and are now two weeks to eight weeks for the same types of projects.

In addition to the normal residential and commercial tenant improvement workload, the five-year development projections anticipate approximately 2,600 new residential units and 56,000 square feet of new commercial space. Permit processing and plan check services for new construction are in addition to the same services for remodels, water heater and HVAC replacements, solar, pools, etc. for the existing 29,267 housing units.

With increased building construction activity and anticipated new development construction activity, there is a need for a limited-term Office Specialist and limited-term Plans Examiner to complete and improve our current level of service and approve projects and issue permits in a timely manner.

5.1 Packet Pg. 5
Staff recommends that the Finance Committee forward a recommendation to the City Council to add one full-time two-year limited term Office Specialist and one full-time two-year limited term Plans Examiner to the Community Development Department’s staffing. The department current staffing allocation is 22, and with these two positions it will be 24.

FISCAL ANALYSIS
The Building and Safety Services Division is a fee for service division and will collect fees for permit processing and plan checking to pay for one full-time two-year limited term Office Specialist and one full time two-year limited term Plans Examiner. The additional annual cost for these two positions will be approximately $400,000. Adding these two limited term positions will improve permit processing times, will allow projects to be started and completed earlier and should allow earlier occupancy of businesses providing services to the community that bring new revenue to the City.

STEPS FOLLOWING APPROVAL
Forward the proposed staffing changes to the City Council for consideration of approval by resolution.

5.1 Packet Pg. 6

FINANCE COMMITTEE STAFF REPORT
DATE: October 16, 2023
TO: Finance Committee/City Manager
FROM: Debbie Chamberlain, Community Development Director By: Vance Phillips, Chief Building Official
SUBJECT: Amendment No. 1 to the West Coast Code Consultants, Inc. Agreement for Staffing and Plan Check Services in the Amount of $800,000 for a Total Amount Not to Exceed $1,600,000 and Extend the Contract through June 30, 2026.

RECOMMENDED ACTION
Staff recommends that the Finance Committee review the proposed Amendment #1 to the Agreement with West Coast Code Consultants, Inc. increasing the amount of the agreement by $800,000 for a total cumulative amount not to exceed $1,600,000 through June 30, 2026.

BACKGROUND/DISCUSSION
On August 8, 2022, the City entered into a contract for professional services with West Coast Code Consultants, Inc. for staffing and plan check services. The contract amount was $800,000.

As a result of current plan check workload related to large development projects, projected large development projects and the normal plan check workload the Building and Safety Services Division is currently experiencing, staff is requesting that the City Council Finance Committee recommend the City Council authorize the Mayor to amend the current contract with West Coast Code Consultants, Inc., to increase the amount of the agreement and extend the date of the agreement three years.

West Coast Code Consultants, Inc. provides backup staffing during times staff are out for vacations, sick leave, training, and staff development and during times when plan check turnaround times exceed the ability of staff to respond in a timely manner.

In 2022, staff completed a Request for Qualifications and Bid Pricing (RFQ) for building inspection and plan check services. The results of the RFQ process allowed staff to develop an on-call list of consultants that are available to provide building inspection, plan check and other staffing services. West Coast Code Consultants, Inc. is one of the companies on the on-call list, is a San Ramon company and has the staff available to help us meet the workload demand.

FISCAL ANALYSIS
The Building and Safety Services Division’s operating budget includes funding for plan check and office staffing contract services. If approved, the total amount of the current agreement will

5.2 Packet Pg. 7
be increased by $800,000 through June 30, 2026. Fees collected for plan checks fund part of the Division’s services and will cover the cost of this agreement.

STEPS FOLLOWING APPROVAL
Staff will move the recommendation forward to the City Council and request authorization to allow the mayor to amend the current agreement with West Coast Code Consultants, Inc.

5.2 Packet Pg. 8

FINANCE COMMITTEE STAFF REPORT
DATE: October 16, 2023
TO: Finance Committee/City Manager
FROM: Kelly Sessions, Administrative Services Director
By: Miaoxia Joe, Administraive Analyst
SUBJECT: City of San Ramon Quarterly Revenue and Expenditure Reports FY23/24 Q1 Ending September 30, 2023

ATTACHMENT
A: Q1 FY23-24 Rev
B: Q1 FY23-24 Exp

5.3 Packet Pg. 9

DESCRIPTION
FY2023-24
BUDGET
FY2023-24
Q1 ACTUALS
% OF
BUDGET
FY2023-24

YEAR-END

ESTIMATE

VARIANCE
TO
BUDGET
($)

VARIANCE
TO
BUDGET
(%)
FY2022-23
Q1

ACTUALS

VARIANCE
TO

PRIOR YEAR

QUARTER
($)

VARIANCE
TO

PRIOR YEAR

QUARTER
(%)
Property Tax 25,114,068 $ $ - n/a 25,114,068 $ - $ 0% - $ - $ n/aSales and Use Tax 13,262,289 1,118,826 8% 13,262,289 - 0% 949,447 169,379 18%Property Transfer Tax 1,317,992 58,642 4% 1,317,992 - 0% 136,375 (77,733) -57% Transient Occupancy Taxes (TOT) 2,248,541 74,315 3% 2,248,541 - 0% 394,474 (320,160) -81% Franchise Fees 5,688,497 248,392 4% 5,688,497 - 0% 580,935 (332,542) -57% Licenses and Permits 3,283,250 684,057 21% 3,283,250 - 0% 621,202 62,855 10% Charges for Services 6,766,228 2,056,650 30% 6,766,228 - 0% 1,948,343 108,306 6%Fines and Forfeitures 263,000 22,251 8% 263,000 - 0% 24,004 (1,753) -7% Intergovernmental 526,220 67,214 13% 526,220 - 0% 237,072 (169,858) -72% Investment Income 333,167 (3,090) -1% 333,167 - 0% (1,905) (1,185) 62% Miscellaneous Revenue 3,670,772 825,195 22% 3,670,772 - 0% 800,917 24,278 3% Total Revenues Excluding Transfers 62,474,024 $ $ 5,152,452 8% 62,474,024 $ - $ 0% 5,690,865 $ (538,413) $ -9% Major Variance AnalysisSales and Use Tax - The $169K reflects an increase in business-to-business sales.

Property Transfer Tax - The $78K reflects a decrease in home sales.

Transient Occupancy Tax (TOT) - The $320K decrease reflects a decrease in travels and hotel occupancy.Franchise Fees - The 333K reflects a decrease in garbage franchise fees received compared to prior year.

Licenses and Permits - The $63K increase reflects a higher number of business licenses issued and more applications submitted for building, electrical, engineering, heating, and plumbing permits. Charges for Services - The $108K reflects an increase in Building/Planning plan checking services , Engineering plan checkingand inspection services, and fees from the Parks and Community Services such as aquatic, theater, teen programs, and sports. Intergovernmental - The $170 reflects a timing differece of SLESF Funds and SHSGP2 Funds received and a decrease in motor vehicle license fees.

CITY OF SAN RAMON

GENERAL FUND REVENUES
FY2023-24 Q1 Ending September 30, 2023
1 of 3

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Attachment: A: Q1 FY23-24 Rev (4144 : Quarterly Reports) FUND
NO. FUND DESCRIPTIONS
FY2023-24
BUDGET
FY2023-24
Q1 ACTUALS
% OF
BUDGET
FY2023-24 YEAREND ESTIMATE

VARIANCE

TO BUDGET
($)

VARIANCE
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BUDGET
(%)
FY2022-23 Q1

ACTUALS

VARIANCE
TO

PRIOR YEAR

QUARTER
($)

VARIANCE
TO

PRIOR YEAR

QUARTER
(%)
101 General Fund 62, $ 474,024 $ 5,152,452 8% 62,474,024 $ - $ 0% 5,690,865 $ $ (538,413) -9% 201-207
217-218 Mitigation Funds 5,327,615 463,267 9% 5,327,615 - 0% 732,794 (269,527) -37% 208 Gas Tax 4,493,792 557,250 12% 4,493,792 - 0% 500,079 57,171 11% 209 Park Development 5,610,611 589,430 11% 5,610,611 - 0% 74,520 514,910 0% 212 SCCJEPA 2,822,259 - 0% 2,822,259 - 0% 850,610 (850,610) -100% 213 Street Maintenance & Improvement - 492 - - 95,693 (95,202) 0% 214 Traffic Improvement 881,852 - 0% 881,852 - 0% 233,149 (233,149) -100% 215 Tri-Valley Transportation Fund 487,724 (157,440) -32% 487,724 - 0% (169,621) 12,181 -7% 216 Pub Educ & Gov (PEG) Fund 195,000 - 0% 195,000 - 0% - - 0% 251 CFD 2014-1 (ACRES) 90,482 - 0% 90,482 - 0% - - 0%
252 CFD 2014-1 (The Preserves) 564,937 - 0% 564,937 - 0% - - 0%301 Citywide Landscaping 1,793,280 10,933 1% 1,793,280 - 0% 2,201 8,732 0% 302 Citywide Lighting 799,175 - 0% 799,175 - 0% 17,431 (17,431) 0%303-319 Landscaping & Lighting Special Districts 1,130,320 - 0% 1,130,320 - 0% - - 0% 330 The Preserve Faria 114,522 - 0% 114,522 - 0% - - 0%341 Canyon Park 10,990 - 0% 10,990 - 0% - - 0%342 Village Center Common Area 6,006 - 0% 6,006 - 0% - - 0%343 Dougherty Valley 21,406,555 - 0% 21,406,555 - 0% 24,652 (24,652) -100% 344 Solid Waste 1,322,938 107,646 8% 1,322,938 - 0% 207,976 (100,330) -48%345 Non Point Drainage 1,226,000 16 0% 1,226,000 - 0% - 16 0% 346 Street Smarts Program 207,750 60,750 29% 207,750 - 0% 60,750 - 0% 347 TDM Programs 656,420 - 0% 656,420 - 0% - - 0%

CITY OF SAN RAMON

REVENUE BY FUND
FY2023-24 Q1 Ending September 30, 2023
2 of 3

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Attachment: A: Q1 FY23-24 Rev (4144 : Quarterly Reports) FUND
NO. FUND DESCRIPTIONS
FY2023-24
BUDGET
FY2023-24
Q1 ACTUALS
% OF
BUDGET
FY2023-24 YEAREND ESTIMATE

VARIANCE

TO BUDGET
($)

VARIANCE
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BUDGET
(%)
FY2022-23 Q1

ACTUALS

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CITY OF SAN RAMON

REVENUE BY FUND
FY2023-24 Q1 Ending September 30, 2023
351 Measure J - Traffix Program 211,868 54,287 26% 211,868 - 0% 44,511 9,776 22% 361 GHAD - DV 2,285,226 7,339 0% 2,285,226 - 0% 7,434 (95) -1%362 GHAD - NWSR 570,642 - 0% 570,642 - 0% - - 0% 371 San Ramon Housing 4,015,500 1,634,088 41% 4,015,500 - 0% - 1,634,088 n/a 401 Capital Improvement Project Fund 4,639,313 345,679 7% 4,639,313 - 0% 3,205,240 (2,859,561) -89% Total Revenues Excluding Transfers $ 123,344,801 $ 8,826,189 7% 123,344,801 $ $ - 0.00% 11,578,537 $ $ (2,752,348) -24% Major Variance Analysis
Mitigation Funds - The $270K reflects a decrease in development fees received in the current year.Gas Tax - The $57K reflects an increase in gas consumption.

Park Development - The 515K reflects an increase in development fees for Summer Hill. SCCJEPA - This revenue is based on developer fees received from Contra Costa County and the Town of Danville. The City of San Ramon receives a percentage per the Joint Exercise Powers Agreement. The revenue varies from year to year.Street Maintenance & Improvement - The $95K decrease reflects lower development fees received in the current year.Traffic Improvement - The $233K reflects a decrease in development activities compared to prior year. Solid Waste - The $100K reflects a decrease in development activities compared to prior year.San Ramon Housing - The 1.6M reflects an increase in housing fees received. CIP - Different grants are received for CIP each fiscal year and revenue amounts will vary. 3 of 3

5.3.a
Packet Pg. 12
Attachment: A: Q1 FY23-24 Rev (4144 : Quarterly Reports)

POSITIONS

AUTHORIZED

POSITIONS
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FILLED
FY2023-24
BUDGET
FY2023-24
Q1

ACTUALS
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FY2023-24

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GENERAL GOVERNMENT
City Council 399,088 94,666 24% 378,663 20,425 5% 70,420 24,246 34% City Manager 4.00 4.00 4.00 1,758,150 277,945 16% 1,111,780 646,370 37% 272,214 5,731 2%City Attorney 4.00 4.00 4.00 1,192,725 213,252 18% 853,009 339,715 28% 192,044 21,209 11% City Clerk 2.00 2.00 2.00 560,828 100,920 18% 403,682 157,147 28% 92,397 8,523 9% Total General Gov't 10.00 10.00 10.00 3,910,790 686,783 18% 2,747,133 1,163,657 30% 627,075 59,709 10%

ADMINISTRATIVE SERVICES
Finance 9.00 9.00 9.00 2,021,967 387,747 19% 1,550,990 470,977 23% 348,614 39,133 11% Human Resources 4.00 4.00 4.00 1,414,868 621,005 44% 2,484,020 (1,069,152) -76% 472,191 148,814 32% Information Technology 6.00 6.00 6.00 2,671,838 533,615 20% 2,134,459 537,379 20% 556,990 (23,375) -4% Total Adm Svcs 19.00 19.00 19.00 6,108,672 1,542,367 25% 6,169,469 (60,797) -1% 1,377,795 164,572 12%

COMMUNITY DEVELOPMENT
Planning 10.00 9.00 9.00 1,699,949 272,102 16% 1,088,410 611,539 36% 249,269 22,834 9% Building 12.00 12.00 11.00 3,916,193 615,225 16% 2,460,900 1,455,293 37% 548,222 67,003 12% Total Comm Development 22.00 21.00 20.00 5,616,142 887,328 16% 3,549,310 2,066,832 37% 797,491 89,837 11% HOUSING - 30,154 120,615 (120,615) 29,104 1,050 4%
POLICE
Administration 3,725,331 742,726 20% 2,970,902 754,429 20% 532,310 210,415 40% Dispatch 2,338,175 546,666 23% 2,186,664 151,511 6% - 546,666 0% Records Management 1,173,665 207,969 18% 831,877 341,788 29% 174,402 33,568 100%Crime Prevention & Comm Relations 1,328,428 224,248 17% 896,992 431,436 32% 180,603 43,645 24% Professional Standards/Training 1,325,618 278,685 21% 1,114,739 210,879 16% 248,251 30,434 100% Evidence 406,510 63,673 16% 254,693 151,817 37% 41,325 22,348 100%Investigations 2,970,524 603,900 20% 2,415,599 554,925 19% 477,949 125,951 26%Patrol 12,775,401 2,195,804 17% 8,783,218 3,992,183 31% 1,998,171 197,633 10%Traffic Safety 1,549,460 286,758 19% 1,147,032 402,428 26% 342,708 (55,950) -16% School Resources 518,860 89,602 17% 358,407 160,453 31% 96,135 (6,533) -7% Emergency Preparedness 108,067 54,750 51% 219,000 (110,933) -103% 196,461 (141,711) -72% Fleet 622,217 108,415 17% 433,661 188,556 30% 84,229 24,186 29% Total Police 89.00 89.00 81.00 28,842,256 5,403,196 19% 21,612,785 7,229,471 25% 4,372,544 1,030,652 24%

CITY OF SAN RAMON

OPERATING EXPENDITURE BUDGET SUMMARY
FY2023-24 Q1 Ending September 30, 2023
1 of 3

5.3.b
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Attachment: B: Q1 FY23-24 Exp (4144 : Quarterly Reports)

POSITIONS

AUTHORIZED

POSITIONS
FUNDED

POSITIONS
FILLED
FY2023-24
BUDGET
FY2023-24
Q1

ACTUALS
% OF
BUDGET
FY2023-24

YEAR-END
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CITY OF SAN RAMON

OPERATING EXPENDITURE BUDGET SUMMARY
FY2023-24 Q1 Ending September 30, 2023
PUBLIC WORKSTransportation Services DivisionTotal Transportation 4.00 4.00 4.00 1,594,967 230,177 14% 920,706 674,261 42% 229,566 610 0%Engineering Services DivisionTotal Engineering 21.00 21.00 20.00 5,901,399 1,031,347 17% 4,125,390 1,776,009 30% 864,813 166,534 19% Public Services Division
Administration 2,466,371 408,269 17% 1,633,078 833,294 34% 410,734 (2,464) -1%Solid Waste 731,719 101,105 14% 404,420 327,299 45% 80,731 20,374 25% Aquatic Maintenance 2,236,888 348,668 16% 1,394,671 842,217 38% 316,421 32,246 10% Facilities Maintenance 4,040,432 598,040 15% 2,392,158 1,648,274 41% 478,923 119,116 25% Landscaping Maintenance 8,227,919 1,441,519 18% 5,766,077 2,461,842 30% 1,424,733 16,786 1% Parks Maintenance 8,707,269 1,624,193 19% 6,496,772 2,210,497 25% 1,455,030 169,163 12% SR Service Center 1,091,353 222,086 20% 888,344 203,009 19% 207,039 15,048 7% Roadway Maintenance 3,315,216 505,723 15% 2,022,890 1,292,326 39% 522,355 (16,632) -3% Flood Control 726,818 55,634 8% 222,535 504,283 69% 49,353 6,281 13% Total Public Services 81.75 81.75 78.75 31,543,985 5,305,236 17% 21,220,946 10,323,040 33% 4,945,318 359,919 7% Total Public Works 106.75 106.75 102.75 39,040,351 6,566,760 17% 26,267,042 12,773,309 33% 6,039,697 527,063 9%

PARKS & COMMUNITY SERVICES
Administration 1,955,944 338,890 17% 1,355,560 600,384 31% 308,299 30,591 10% Aquatics 1,198,111 346,364 29% 1,385,456 (187,345) -16% 332,194 14,170 4% Facilities 1,529,086 290,139 19% 1,160,557 368,529 24% 262,684 27,456 10% The Arts 1,212,994 256,079 21% 1,024,316 188,678 16% 273,234 (17,155) -6% Special Programs & Events 1,016,788 175,133 17% 700,531 316,257 31% 129,695 45,437 35% Youth/Teen Services 928,209 194,186 21% 776,744 151,465 16% 174,525 19,661 11% Adult & Senior Enrichment 541,933 93,375 17% 373,501 168,432 31% 87,021 6,354 7% Adult & Youth Sports 928,575 182,128 20% 728,512 200,063 22% 157,533 24,595 16% Total Parks & Comm Svcs 34.00 29.00 29.00 9,311,640 1,876,294 20% 7,505,178 1,806,462 19% 1,725,185 151,109 9%Total All Departments 280.75 274.75 261.75 92,829,851 16,992,883 18% 67,971,531 24,858,320 27% 14,968,890 2,023,992 14% *Year-End Estimate is annualized based on Q1 Actuals. Q1 Actuals may include seasonal staffing costs or prepaid expenditures for all quarters.Expenditures are under budget authorization. 2 of 3

5.3.b
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Attachment: B: Q1 FY23-24 Exp (4144 : Quarterly Reports)

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FY2023-24
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FY2023-24

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CITY OF SAN RAMON

OPERATING EXPENDITURE BUDGET SUMMARY
FY2023-24 Q1 Ending September 30, 2023
6 Unfunded Positions: 13 Vacant Positions:1 Assistant Planner (Community Development) 1 Office Technician (Community Development) 1 Program Manager (Parks & Community Services) 1 Police Lieutenant (Police Svcs)1 Office Specialist (Parks & Community Services) 2 Officers (Police Svcs)2 Office Technicians (Parks & Community Services) 1 Police Carporal (Police Svcs)1 Recreation Coordinator (Parks & Community Services) 2 Administrative Coordinators (Police Svcs) 1 Police Svcs Technician (Police Svcs)1 Office Technician (Police Svcs)1 Division Manager (Public Works)1 Maintenance Supervisor (Public Works)1 Maintenance Technician (Public Works)1 Office Specialist (Public Works) 3 of 3

5.3.b
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Attachment: B: Q1 FY23-24 Exp (4144 : Quarterly Reports)

FINANCE COMMITTEE STAFF REPORT
DATE: October 16, 2023
TO: Finance Committee/City Manager
FROM: Kelly Sessions, Administrative Services Director
By: Miaoxia Joe, Administraive Analyst
SUBJECT: City of San Ramon Quarterly Investment Report (Period Ending September 30, 2023)

RECOMMENDED ACTION
Staff recommends that the Finance Committee review and accept the Quarterly Investment Report for the Period Ending September 30, 2023 and forward to the City Council for review.

BACKGROUND/DISCUSSION
State law requires that City Council review the City Investment Report at least quarterly. Copies of the Investment Report prepared by FHN Financial-Main Street Advisors (FHN Financial) for the period ending September 30, 2023, the Investments Held by Trustees, and the Summary of Cash and Investments are attached for your review.

The September 30, 2023 Investment Report was prepared by FHN Financial-Main Street Advisors, the City’s investment manager. The Investment Report is maintained on a daily basis to track investment yield, maturities, call dates, and market values. The Investments Held by Trustees and the Summary of Cash and Investments were prepared by staff.

The City’s investments are carried at fair value, as required by generally accepted accounting principles. In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Pools, the City adjusts the carrying value of its investments to reflect their fair value at each fiscal year end, and it includes the effects of these adjustments in income for that fiscal year.

FISCAL ANALYSIS
The balance of the City’s demand deposit accounts held with JP Morgan Chase Bank totaled $10.4 million as of September 30, 2023. This account is used for the daily City operations.

Total funds managed by FHN Financial equaled $71.6 million at book value as of September 30, 2023. The portfolio consists of $25.0 million in federal agency securities, $30.8 million in

5.4 Packet Pg. 16
treasury securities, $3.1 million in supranationals, $3.5 million in corporate notes, $3.5 million in FDIC insured CD’s, $1.0 million in municipal bonds, and $4.7 million in commercial paper. The weighted average yield to maturity on investments is 2.54% and the weighted average days to maturity is 575 days, which is 28 days shorter than last quarter. Interest rates are 2 basis points lower than the previous quarter.

The overall objectives in managing the City’s investment portfolio are listed as follows in the order of importance: first, safeguarding principal; second, maintaining appropriate liquidity; and third, generating favorable long-term results relative to the City’s benchmark, the ICE BofAML 30-month average (MMA). To accomplish these objectives, FHN Financial is directed to maintain a strategy designed to keep the portfolio’s results in line with the established benchmark, while actively managing the portfolio’s duration relative to the benchmark, sector allocation and yield curve placement to enhance performance.

The balance of the City’s Fidelity U.S. Government Money Market account held with US Bank totals $6.7 million and makes up 8.5% of the portfolio as of September 30, 2023. The current rate is 5.23%. This account is available on a daily basis for immediate cash flow requirements.

The City of San Ramon has $0.6 million invested with the State Treasurer’s Office (Local Agency Investment Fund). The current interest rate is 3.43% and makes up 0.8% of the portfolio.

This account is available on a daily basis for immediate cash flow requirements.

The “Investments Held by Trustees” report was prepared by staff and is required supplementary information in the quarterly report to the City Council. Funds held by the trustee total $3.9 million. The 2019 Certificates of Participation (COP) investments managed by FHN Financial total $0.3 million and are available for designated capital projects. The remaining $3.6 million of investments managed by the trustee pertain to City pension obligation bonds and are not available for general City purposes.

This investment portfolio is in conformity with the City of San Ramon’s adopted “Investment Policy.” The Treasurer’s cash management program provides sufficient liquidity to meet estimated future expenditures for a period of six months. FHN Financial-Main Street Advisors provides market values for securities under their management, while market prices of securities held in trust are obtained from the trustees’ monthly account statements.

FISCAL IMPLICATIONS
This report is for informational purposes only; there is no fiscal impact.

STEPS FOLLOWING APPROVAL
The report will be presented to City Council for review and acceptance at the October 24, 2023, City Council meeting.

ATTACHMENT
A: Summary of Cash and Investments at September 30, 2023

5.4 Packet Pg. 17
B: Investment Portfolio Information for City of San Ramon for the Month Ending September 30, 2023
C: Investments Held by Trustees at September 30, 2023
D: Investment Terminology

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Demand deposits held with JP Morgan Chase Bank $ 10,426,399 Investment Portfolio:

Investments held with US Bank (FHN Financial - Main Street Advisors) 71,642,506 Fidelity US Government Money Market Funds held with US Bank 6,733,823 Investments held with Local Agency Investment Fund (LAIF) 623,120 Total Investment Portfolio 78,999,449

Investments held with Trustee 3,935,399
Total Cash and Investments $ 93,361,246
This investment portfolio is in conformity with the City of San Ramon's adopted investment policy. The Treasurer's cash management program provides sufficient liquidity to meet estimated future expenditures for a period of six months.

Prepared and approved by:

Candace Daniels, Finance Manager
Approved by:

Kelly Sessions, Administrative Services Director
Summary of Cash and Investments
For the Period September 30, 2023

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Packet Pg. 48
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending September City of San Ramon
Investment Report - Supplementary InformationInvestments Held by Trustees at September 30, 2023 Maturity
Description CUSIP Rate Date Cost Market Issue
AMBAC Assurance 1.00 1.00 06(A) TA
Wells Fargo Money Market 0.74 0.74 2010 POBWells Fargo Money Market 3,499,557.56 3,499,556.56 2010 POBWells Fargo Money Market 547.12 547.12 2010 POBWells Fargo Money Market 103,191.28 103,191.28 2010 POBWells Fargo Money Market 425.71 425.71 2010 POBDreyfus Govt Cash Mgmt X9USDYRUT 5.12% n/a 331,243.27 331,243.27 2019 COP Dreyfus Govt Cash Mgmt X9USDYRUT 5.12% 431.84 431.84 2019 COP $ 3,935,397.52 3,935,398.52 $

5.4.c
Packet Pg. 49
Attachment: C: Investments Held by Trustees at September 30, 2023 (4139 : Quarterly Investment Report)

INVESTMENT TERMINOLOGY
Basis Points – A standard measure for interest rates that represents one one-hundredth of one percent.

Book Value – The price paid for the financial instrument as recorded on the balance sheet. Book value never changes as long as the instrument is owned.

Fair Value – Also known as market value, fair value is the price that buyers and sellers of a financial instrument would agree upon if the instrument was sold in the market today.

Par Value – Value of the instrument at the time of issuance, also known as face value (when financial instruments were printed on paper, it was the value printed on the face of the paper document).

Weighted Average Days to Maturity – The average length of time until all the investments in the portfolio will mature.

Weighted Average Yield to Maturity – The average return anticipated on the investment instruments as a whole if all are held to maturity.

5.4.d
Packet Pg. 50
Attachment: D: Investment Terminology (4139 : Quarterly Investment Report)

FINANCE COMMITTEE STAFF REPORT
DATE: October 16, 2023
TO: Finance Committee/City Manager
FROM: Kelly Sessions, Administrative Services Director
By: Candace Daniels, Finance Division Manager
SUBJECT: Preliminary and Unaudited General Fund Financial Results for FY 2022- 2023

ATTACHMENT
A: FY 2022-23 Preliminary & Unaudited General Fund Budget Report

5.5 Packet Pg. 51

DESCRIPTION
FY 22/23

AMENDED
BUDGET
FY 22/23
PRELIM

ACTUALS

DIFF ACTUAL
vs BUDGET
%
Change
FY 21/22

AUDITED

ACTUALS
FY 22/23
PRELIM

ACTUALS
DIFF
ACTUAL vs
FY 21/22 % Change
FUND BALANCE, JULY 1, 2022 $ 23,838,680 $ 23,838,680 $ 23,838,680 REVENUES:

Property Tax 24,376,859 24,550,855 173,996 0.7% 23,479,915 24,550,855 1,070,940 4.6% Sales and Use Tax 11,298,342 14,329,831 3,031,489 26.8% 12,124,019 14,329,831 2,205,812 18.2% Property Transfer Tax 1,054,696 709,268 (345,428) -32.8% 1,213,062 709,268 (503,794) -41.5% Transient Occupancy Taxes (TOT) 2,317,261 2,133,699 (183,562) -7.9% 1,744,150 2,133,699 389,550 22.3% Franchise Fees 5,737,096 5,726,366 (10,730) -0.2% 5,444,055 5,726,366 282,311 5.2% Licenses and Permits 2,748,250 3,312,029 563,779 20.5% 2,705,182 3,312,029 606,847 22.4% Intergovernmental 498,484 692,301 193,817 38.9% 553,039 692,301 139,262 25.2% Charges for Services 6,251,004 5,950,166 (300,838) -4.8% 5,860,232 5,950,166 89,934 1.5% Fines and Forfeitures 289,000 172,002 (116,998) -40.5% 133,028 172,002 38,974 29.3% Investment Income 105,000 380,525 275,525 262.4% (355,124) 380,525 735,649 -207.2% Miscellaneous Revenue 3,176,466 6,771,424 3,594,958 113.2% 3,089,689 6,771,424 3,681,735 119.2% TOTAL REVENUES 57,852,458 64,728,466 6,876,008 11.9% 55,991,246 64,728,466 8,737,220 15.6% EXPENDITURES:

General Government 3,375,183 3,139,710 (235,473) -7.0% 3,136,173 3,139,710 3,537 0.1% Administrative Services 5,581,724 5,395,989 (185,735) -3.3% 5,076,567 5,395,989 319,423 6.3% Planning 5,378,615 5,036,352 (342,263) -6.4% 4,200,208 5,036,352 836,144 19.9% Police Services 14,952,835 14,346,896 (605,939) -4.1% 16,458,771 14,346,896 (2,111,875) -12.8% Public Works 16,358,883 15,721,657 (637,226) -3.9% 16,002,181 15,721,657 (280,524) -1.8% Parks & Community Services 8,460,650 8,108,300 (352,350) -4.2% 7,774,503 8,108,300 333,797 4.3% Non-Departmental 50,000 4,773 (45,227) -90.5% - 4,773 4,773 100.0% TOTAL EXPENDITURES 54,157,890 51,753,678 (2,404,212) -4.4% 52,648,403 51,753,678 (894,725) -1.7% Excess of Revenues over Expenditures 3,694,568 12,974,788 9,280,220 OTHER FINANCING SOURCES (USES):

Transfers In 4,781,633 4,576,958 (204,675)
Transfers Out (11,054,172) (11,109,611) (55,439)
TOTAL OTHER FINANCING SOURCES (USES) (6,272,539) (6,532,653) (260,114) Net Increase (Decrease) in Fund Balance (2,577,971) 6,442,135 9,020,106 FUND BALANCE, JUNE 30, 20223 $ 21,260,709 $ 30,280,815 $ 9,020,106 PRELIMINARY AND UNAUDITED AS OF 10/11/2023

GENERAL FUND
REVENUE - EXPENDITURE - FUND BALANCE (FULL YEAR FY 22/23)

5.5.a
Packet Pg. 52
Attachment: A: FY 2022-23 Preliminary & Unaudited General Fund Budget Report [Revision 1] (4141 : FY

DESCRIPTION
FY 22/23

AMENDED
BUDGET
FY 22/23
PRELIM

ACTUALS

DIFF ACTUAL
vs BUDGET
%
Change
FY 21/22

AUDITED

ACTUALS
FY 22/23
PRELIM

ACTUALS
DIFF
ACTUAL vs
FY 21/22 % Change
PRELIMINARY AND UNAUDITED AS OF 10/11/2023

GENERAL FUND
REVENUE - EXPENDITURE - FUND BALANCE (FULL YEAR FY 22/23) Reserve Balances:

Unreserved Fund Balance (in GF) $ 30,280,815
Designated (outside of GF):

Debt Service Funds -
TOTAL FUND BALANCE (UNAUDITED) $ 30,280,815
Use of Reserves:

Beginning Balance, July 1, 2022 $ 22,396,943
General Fund 6,442,135
Dougherty Valley Fund 17,088
Net Increase/(Decreases) in Reserves 6,459,223
ENDING FUND BALANCE, June 30, 2023 (UNAUDITED) $ 28,856,166 Reserves as a % of Estimated Expenditures 53.3%

5.5.a
Packet Pg. 53
Attachment: A: FY 2022-23 Preliminary & Unaudited General Fund Budget Report [Revision 1] (4141 : FY

City Council Finance CommitteeOctober 16, 2023

City Council Finance Committee
October 16, 2023