based supranationals are International Bank for Reconstruction and Development, the International Finance Corporation, and the Inter-American Development Bank.
Treasury Securities – Government bonds from the United States Treasury Department.
Examples include U.S. Treasury Bills, U.S. Treasury Notes, and U.S. Treasury Bonds.
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.
Yield – The current rate of return on an investment security, generally expressed as a percentage of the security's current price. Examples of yield include interest rate earned and dividend rate received from holding a particular security.
City Council Staff Report
Item No. 5.4.
Date: August 25, 2026
To: San Ramon City Council
From: Becky Chestnut, Police Chief
Bani Kollo, Maintenance Supervisor
Subject: Resolution No. 2026-110 - Authorizing the expenditure of $295,118 from the Vehicle Replacement Fund for the Purchase of Five Ford Police Interceptor Replacement Patrol Vehicles
Executive Summary:
Staff requests the purchase of five replacement Ford Interceptor Utility patrol vehicles from Folsom Lake Ford that were budgeted and approved by the City Council in the 2026/27 Fiscal Year Budget.
Recommendation:
The City Council's role is to consider authorizing the purchase of five replacement Ford Police Interceptor Utility patrol vehicles from Folsom Lake Ford for $295,118. The purchase would be based off the State of California Contract, #1-22-23-14C. The vehicles were approved in the 2026/27 Fiscal Budget.
Background:
Annually, staff reviews the police vehicle inventory. The condition of the vehicles, mileage, the projected maintenance costs as well as the vehicle replacement policy are considered in determining the replacement strategy for the upcoming fiscal year. Staff recommended the replacement of five replacement Ford Interceptor Utility patrol vehicles staying within the guidelines of the Vehicle Replacement Policy. Those five replacement vehicles were approved by the City Council as part of the Police Departments 2026/27 Fiscal Year Budget.
Fiscal Impact:
This purchase was budgeted as part of the Police Department's budget process. The expenditure would come from the Vehicle Replacement Fund Account # 60242500 67008.
Alternative Option(s):
Should the City Council decide against replacement of the five patrol vehicles, we could extend the life of the existing patrol vehicles beyond our replacement policy guidance, which is based on best practices as well as safety and experience with severe duty municipal policing use. The history of the fleet would indicate that at or near 85,000 miles, the maintenance and repairs are cost prohibitive and the vehicles are not suitable for code 3 driving.
Next Steps:
Should the City Council approve the purchase, staff will request a purchase order for the replacement Ford Interceptor Utility patrol vehicles from Folsom Lake Ford.
Attachment(s):
A. Resolution 2026-110
ATTACHMENT A
RESOLUTION NO. 2026-110
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAMON AUTHORIZING THE EXPENDITURE OF $295,118. FROM THE VEHICLE REPLACEMENT FUND FOR THE
PURCHASE OF FIVE FORD POLICE INTERCEPTOR UTILITY REPLACEMENT PATROL
VEHICLES
WHEREAS, the City of San Ramon is due to purchase five replacement patrol vehicles; and
WHEREAS, the City Council approved 2026/27 Fiscal Year Police budget, which allocated funding for the purchase and replacement of five patrol vehicles; and WHEREAS, the City of San Ramon awarded the purchase to Folsom Lake Ford via the current State of California Contract for five replacement patrol vehicles; and
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Ramon does hereby authorize the expenditure of $295,118. to Folsom Lake Ford for the purchase of five Ford Police Interceptor Utility patrol vehicles from the Vehicle Replacement Fund.
PASSED, APPROVED, AND ADOPTED, at the meeting of August 25, 2026, by the following votes:
AYES:
NOES:
ABSENT:
ABSTAIN:
___________________________________
Mark Armstrong, Mayor
ATTEST:
Joan Snashall, City Clerk
City Council Staff Report
Item No. 5.5.
Date: August 25, 2026
To: San Ramon City Council
From: Jennifer Wakeman, Department Director
Michelle Joe, Administrative Analyst
Subject: Resolution No. 2026-111 – Authorizing the Mayor to Execute Amendment No.1 to Agreement (C2021-054) with Meeder Public Funds, Formerly FHN Financial Main Street Advisor, LLC, for Investment Advisory Services, (1) Extending the Terms of the Original Agreement for One Additional Year, for an Amount Not-to-Exceed $30,000 and a Total Six-Year Amount Not-toExceed $180,000 AND (2) Ratifying All Work Completed between the Expiration of the Original Agreement and the Execution of Amendment No. 1 Executive Summary:
The City entered into an Agreement with Meeder Public Funds, formerly FHN Financial Main Street Advisor, LLC, for Investment Advisory Services for $150,000 on July 1, 2021.
Although the Agreement expired on June 30, 2026, Meeder Public Funds continued to perform work under the terms of the Agreement at the City's request. Adoption of the proposed resolution would authorize Amendment No. 1 to the Agreement (C2021-054) with Meeder Public Funds, (1) extending the term by one year through June 30, 2027, and increasing the contract amount by $30,000, for a total six-year amount not-to-exceed $180,000; and (2) ratifying all work performed by Meeder Public Funds under the terms of this Agreement between June 30, 2026 and the execution of Amendment No. 1.
Recommendation:
Council is asked to consider adopting the proposed Resolution, authorizing the Mayor to execute Amendment No. 1 to the Agreement (C2021-054) with Meeder Public Funds for investment advisory services. The amendment would extend the term through June 30, 2027, authorize an additional amount not-to-exceed $30,000, increase the amount not-toexceed $180,000 for a six-year term, and ratify all work performed by Meeder Public Funds under the terms of the Agreement after its June 30, 2026, expiration date.
Background:
In 2021, the City solicited proposals through a Request for Proposals (RFP) for Investment Advisory Services. Meeder Public Funds was selected to provide the services, and the City entered into a five-year Agreement with Meeder Public Funds on July 1, 2021, in an amount not-to-exceed $150,000. The Agreement expired on June 30, 2026; however Meeder Public Funds continued to perform under the terms of the Agreement at the City's request. The City requires Meeder Public Funds to complete the remaining services under the Agreement and seeks to ratify all work completed to date. To promote transparency in City Government operations, City staff and Meeder Public Funds have agreed to an amendment to the original Agreement to extend the term for one additional year, for the amount not-toexceed $30,000, resulting in a total six-year amount not-to-exceed $180,000 (Amendment No. 1). Amendment No. 1 would also ratify all work performed by Meeder Public Funds under the terms of the original Agreement at the City's request after June 30, 2026. The proposed amendment would allow the City to maintain continuity of investment advisory services while providing sufficient time for the City to conduct a competitive procurement process for the next service cycle.
Fiscal Impact:
The cost for Amendment No. 1 of the Investment Advisory Services contract is $30,000.
This amount is included in the FY27 Adopted Budget.
Alternative Option(s):
If unapproved, the Investment Advisory Services Agreement will be terminated.
Next Steps:
Upon City Council approval, staff will coordinate execution of Amendment No. 1 with Meeder Public Funds. Staff will also prepare and conduct a competitive procurement process for Investment Advisory Services in early 2027.
Attachment(s):
A. Resolution No. 2026-111
ATTACHMENT A
RESOLUTION NO. 2026-111
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAMON APPROVING AMENDMENT NO. 1 TO THE AGREEMENT (C2021-054)
WITH MEEDER PUBLIC FUNDS
WHEREAS, in 2021 the CITY solicited Proposals by Request for Proposals for Investment Advisory Services, and, based on the proposals received, awarded the Project to Meeder Public Funds (CONTRACTOR); and
WHEREAS, the CITY entered into an Agreement with CONTRACTOR for Investment Advisory Services on July 1, 2021 for $150,000.00; and
WHEREAS, CONSULTANT continued to perform work under the terms of the Agreement at CITY’s request after the June 30, 2026, expiration date of the original Agreement; and
WHEREAS, the CITY requires CONTRACTOR to complete the remaining services under the Agreement and desires to ratify all work completed to date; and WHEREAS, to promote transparency in City Government operations, the Parties desire to extend the term for one additional year, with the CITY intending to solicit competitive proposals for these services in the subsequent service cycle; and WHEREAS, CITY desires to extend the terms of the original Agreement for an additional year and authorize additional funds of $30,000, resulting in a cumulative sixyear Agreement for an amount not-to-exceed $180,000; and WHEREAS, THE Proposed Amendment No. 1 to the Agreement (1) extends the term of the Agreement by one additional year to June 30, 2027; and (2) ratifies all work performed by CONTRACTOR under the terms of the Agreement after its original June 30, 2026, expiration date.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Ramon does hereby approve the attached Amendment No. 1 to the Agreement (C2021-054) with Meeder Public Funds.
PASSED, APPROVED, AND ADOPTED, at the meeting of August 25, 2026, by the following votes:
AYES:
NOES:
ABSENT:
ABSTAIN:
________________________________
Mark Armstrong, Mayor
ATTEST:
Joan Snashall, City Clerk
City Council Staff Report
Item No. 5.6.
Date: August 25, 2026
To: San Ramon City Council
From: Jennifer Wakeman, Department Director
Michelle Joe, Administrative Analyst
Subject: Resolution No. 2026-112 – Authorizing the Mayor to Execute Amendment No. 1 to the Agreement (C2023-010) with Hinderliter De Llamas & Associates (HdL), (1) Extending the Terms of the Original Agreement for One Additional Year, Except for Audit and Tax Administration Services Related to Business License Fees, for an Amount Not-to-Exceed $33,000 and a Total Four-Year Amount Not-to-Exceed $132,000, and (2) Ratifying All Work Completed between the Expiration of the Original Agreement and the Execution of Amendment No. 1
Executive Summary:
On February 16, 2023, the City entered into an Agreement with Hinderliter De Llamas & Associates (HdL) for Audit and Tax Administration Services Regarding Business License Fees, Transient Occupancy Tax (TOT), and Short-Term Rentals, for an amount not-toexceed $99,000. Although the Agreement expired on January 31, 2026, HdL continued to perform work under the terms of the Agreement at the City's request. The City now seeks to execute Amendment No. 1 to the Agreement to (1) extend the term of the original Agreement by one additional year to January 31, 2027, for Audit and Tax Administration Services related to Transient Occupancy Tax (TOT) and Short-Term Rentals, excluding Business License Fees, for an amount not-to-exceed $33,000; and (2) ratify all work performed by HdL under the terms of the original Agreement after January 31, 2026. The total four-year amount is not-to-exceed $132,000.
Recommendation:
The City Council’s role is to consider adoption of this Resolution, authorizing the Mayor to execute Amendment No. 1 to the Agreement (C2023-010) with Hinderliter De Llamas & Associates (HdL) for Audit and Tax Administration Services related to Transient Occupancy Tax and Short-Term Rentals, excluding Business License Fees. The amendment would extend the term through January 31, 2027, for an amount not-to-exceed $33,000 and a total four-year contract amount not-to-exceed $132,000.
Background:
The City entered into a three-year Agreement with Hinderliter De Llamas & Associates (HdL) on February 16, 2023, for Audit and Tax Administration Services Regarding Business License Fees, Transient Occupancy Tax (TOT), and Short-Term Rentals, in an amount notto-exceed $99,000. The Agreement expired on January 31, 2026; however, HdL continued to perform under the terms of the Agreement at the City's request. The City requires Hinderliter De Llamas & Associates (HdL) to complete the remaining services under the Agreement, excluding Audit and Tax Administration Services Regarding Business License Fees, and desires to ratify all work completed to date. To promote transparency in City Government operations, City staff and HdL have agreed to an amendment to the original Agreement (1) to extend the term of the original Agreement for one additional year, through January 31, 2027, for Audit and Tax Administration Services related to Transient Occupancy Tax and Short-Term Rentals, excluding Business License Fees; and (2) to ratify all work performed by HdL under the terms of the original Agreement at the City's request after January 31, 2026 (Amendment No. 1). The additional one-year amount would not exceed $33,000, resulting in a total four-year contract amount not-to-exceed $132,000.
Fiscal Impact:
The cost for Amendment No. 1 of the Audit and Tax Administration Services contract is $33,000. This amount is included in the FY27 Adopted Budget.
Alternative Option(s):
If unapproved, consulting services for Audit and Tax Administration Services Regarding Business License Fees, Transient Occupancy Tax (TOT), and Short-Term Rentals will be terminated.
Next Steps:
Upon City Council approval, staff will coordinate execution of Amendment No. 1 with Hinderliter De Llamas & Associates (HdL). Staff will also prepare and conduct a competitive procurement process for Audit and Tax Administration Services related to Transient Occupancy Tax (TOT) and Short-Term Rentals for the subsequent service cycle.
Attachment(s):
A. Resolution No. 2026-112
ATTACHMENT A
RESOLUTION NO. 2026-112
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAMON APPROVING AMENDMENT NO. 1 TO THE AGREEMENT (C2023-010)
WITH HINDERLITER DE LLAMAS & ASSOCIATION (HDL)
WHEREAS, in 2023 the CITY solicited Proposals for Audit and Tax Administration Services Regarding Business License Fees, Transient Occupancy Tax (TOT), and ShortTerm Rentals, and, based on the proposals received, awarded the Project to Hinderliter De Llamas & Associates (CONSULTANT); and
WHEREAS, the CITY entered into an Agreement with CONSULTANT Audit and Tax Administration Services Regarding Business License Fees, Transient Occupancy Tax (TOT), and Short-Term Rentals on February 16, 2023, for $99,000.00; and WHEREAS, Consultant continued to perform work under the terms of the Agreement at the CITY’s request after the January 31, 2026, expiration date of the original Agreement; and
WHEREAS, the CITY requires CONSULTANT to complete the remaining services under the Agreement and desires to ratify all work completed to date; and WHEREAS, to promote transparency in City Government operations, the Parties desire to extend the term for one additional year, with the CITY intending to solicit competitive proposals for these services in the subsequent service cycle; and WHEREAS, the proposed Amendment No. 1 to the Agreement (1) extends the terms of the original Agreement by one additional year to January 31, 2027, for Audit and Tax Administration Services related to Transient Occupancy Tax (TOT) and Short-Term Rentals, excluding Business License Fees, for an amount not-to-exceed $33,000, resulting in a cumulative four-year Agreement for an amount not-to-exceed $132,000; and (2) ratifies all work performed by CONSULTANT under the terms of the Agreement after the original January 31, 2026, expiration date.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Ramon does hereby approve the attached Amendment No. 1 to the Agreement (C2023-010) with Hinderliter De Llamas & Associates.
PASSED, APPROVED, AND ADOPTED, at the meeting of August 25, 2026, by the following votes:
AYES:
NOES:
ABSENT:
Resolution No. 2026-112
ABSTAIN:
________________________________
Mark Armstrong, Mayor
ATTEST:
Joan Snashall, City Clerk
City Council Staff Report
Item No. 5.7.
Date: August 25, 2026
To: San Ramon City Council
From: Jennifer Wakeman, Department Director
Yuliya Elbo, Budget Program Manager
Subject: Resolution No. 2026-113 - Approving Fiscal Year 2025/26 (FY26) Budget and Actual Adjustments
Executive Summary:
The City of San Ramon is preparing to close FY26 (ended June 30, 2026) and is in the process of reconciling its accounting records. The analyses below provide the details of recommended accounting and/or budget adjustments for which staff are seeking approval from the City Council to record. These entries 1) will result in an increase in the General Fund fund balance by moving resources used in prior years back to the fund balance, 2) will correct funding allocations for capital projects, and 3) will help to establish more accurate accounting and budgeting practices going forward.
Recommendation:
The City Council’s role is to consider approving the attached resolution authorizing the recommended budget and actual adjustments as detailed in the “Background” section of the report.
Background:
1. Fund 513-Certificate of Participation (COP) 2010
Fund 401-Capital Improvements Project 200006 “Olympic Pool and Park Renovation”
Fund 101-General Fund:
Fund 513-COP 2019 is the City’s debt service fund for the 2019 Certificates of Participation and was used to initially allocate bond proceeds to capital projects and later to account for the accumulation of resources restricted to the payment of principal and interest on this debt. The fund balance in this fund should reflect the resources held with fiscal agent at the
end of the fiscal year.
The 2019 Certificate of Participation (COP 2019) bonds were issued to acquire, construct and improve Capital Improvement Projects and pay certain costs of executing and delivering the Certificates. The following projects were identified to be financed with the COP 2019 proceeds:
• City Hall Reconfiguration, CIP 200001
• San Ramon Community Center Renovation, CIP 200003
• Dougherty Station Community Center and Library Renovation, CIP 200004 • Pavement Management Project 2022, CIP 000005
• San Ramon Olympic Pool and Aquatic Park Renovation, CIP 200006 • Comprehensive Street Cameras, CIP 400002
• Bollinger Canyon Rd./Iron Horse Trail Bicycle Pedestrian Overcrossing, CIP 905530
• Citywide Bicycle Network Improvements & Enhancements, CIP 905613 • Citywide Drainage Infrastructure, CIP 915548
• DV Tree Management Program, CIP 935564
• Citywide Intelligent Transportation System Upgrade, CIP 975594 Analyses of the fund balance in Fund 513 for the end of FY26 showed remaining funds available for eligible CIP projects in the amount of $149,812.78. Finance staff identified CIP 200006 “San Ramon Olympic Pool and Aquatic Park Renovation”, which was funded in FY23 with the use of General Fund monies, as an eligible recipient of the remaining COP 2019 funds. Replacing project funding with COP 2019 monies, subsequently necessitates refunding $149,812.78 back to Fund 101-General Fund. This report requests budget adjustments for transfers out from the COP 2019 fund and the CIP fund to replace the project funding.
Suggested Entries:
Replace $149,812.78 of CIP Project 200006 funding--originally funded from the General Fund--with COP 2019 monies.
1. Increase “Transfer out” budget from Fund 513-COP 2019
2. Increase “Transfer in” budget to Fund 401-Capital Improvements Project 200006 “Olympic Pool and Park Renovation”
3. Increase “Transfer out” budget from Fund 401- Capital Improvements Project 200006 “Olympic Pool and Park Renovation”
4. Increase “Transfer in” budget to Fund 101-General Fund for the excess transfer made to CIP Project 200006 “Olympic Pool and Park Renovation” in FY23
5. Enter matching actual entries
2. Fund 610-Insurance Liability:
This fund is used to administer City risk management and insurance commitments, including employees’ leave payouts, the Dougherty Regional Fire Authority (DRFA) pension, retiree medical benefits, general insurance, and safety programs. The risk program's overarching goal focuses on reducing insurance-related costs, maintaining appropriate levels of coverage, and building contingent loss reserves.
Unfunded Accrued Liability (UAL) is the portion of long-term pension costs that remains after accounting for current plan assets and updated actuarial assumptions. Every July, the City makes payments to CalPERS for the annual UAL on all City pension plans, including the DRFA plan. Per the existing agreement between the City of San Ramon and the City of Dublin regarding DRFA, the City of San Ramon and the City of Dublin split these expenditures in the following manner:
• City of San Ramon: 60.92%
• City of Dublin: 39.08%.
The City, through DRFA, is obligated to continue to provide medical insurance benefits to retirees through the existing California Public Employees’ Retirement System (CalPERS) contract. The Authority currently provides retirement benefits to nine (9) retirees and their dependents as of their retirement. DRFA retirees range in age from 75 to 90 years.
As DRFA’s fiduciary agent, the City manages the financial records for DRFA pension and health obligations. However, the practice was never established to set up a budget for the UAL pension expenditure payment. Finance staff seek City Council’s approval to implement this practice starting in FY26. This will comply with accounting requirements to establish alignment between Budget and Actuals and will make the City’s financial records more accurate. This practice has no financial impact on the fund balance in Fund 610, nor on the overall financial position of the City.
Suggested Entries:
Establish a pension expenditure budget for annual “Unfunded Accrued Liability” for the inactive Dougherty Valley Regional Fire Authority (DRFA) in the amount of $1,191,994 for FY26, and in the amount of $1,133,525 for FY27.
3. Fund 501-Pension Obligation Bond 2010 (POB 2010)
Fund 101-General Fund:
Fund 501-POB 2010 is a debt service fund and is used to account for the accumulation of resources that are restricted to the payment of principal and interest on long-term debt.
The fund balance in this fund should only reflect the resources held with fiscal agent at the end of the fiscal year. The taxable Pension Obligation Bonds were issued in January 2010 to
prepay a portion of the unfunded CalPERS pension obligation.
Analyses of the fund balance in Fund 501 revealed that there is currently a cash balance in excess of the amount held by fiscal agent. This overage is the result of an erroneous Transfer In from the General Fund to Fund 501 in FY22, which was not corrected timely.
Finance staff recommend transferring the overage of $1,051,713 back to the General Fund.
This transfer from Fund 501 to the General Fund will reconcile the balance in Fund 501 with the balance held with fiscal agent and will result in an increase to the General Fund fund balance of $1,051,713.
Suggested Entries:
Return $1,051,713 from the Fund 501- POB 2010 Fund to the Fund 101- General Fund to correct the excess transfer in FY22:
3.1. Increase “Transfer out” budget from Fund 501-POB 2010
3.2. Increase “Transfer in” budget to Fund 101- General Fund
3.3. Enter matching actual entries
4. Fund 212- Southern Contra Costa Joint Exercise of Power Authority (SCCJEPA) Regional Impact Fees
Fund 401- Capital Improvements, Project 905328 “Crow Canyon Road Widening Project”:
At the Council meeting on February 22, 2022, staff presented, and Council approved, Resolution No. 2022-028 authorizing an agreement with DeSilva Gates Construction, LLC for construction of the Crow Canyon Road Widening Project (CIPs 905312 and 905328) and appropriating $4m from the SCCJEPA Fund to CIP 905328. However, when this additional appropriation was entered into the accounting system it was later confused with the original funding allocation of $4m for this project and was mistakenly reversed. CIP 905328 remains open with a $4m funding shortfall, which these entries aim to correct.
Suggested Entries:
Budget, and actually transfer, $4,000,000 from SCCJEPA to Project 905328 in the CIP per Council action on February 22, 2022.
4.1. Increase “Transfer out” budget from Fund 212- SCCJEPA
4.2. Increase “Transfer in” budget to Fund 401- CIP
4.3. Enter matching actual entries
Fiscal Impact:
A summary of the impacts by fund is shown below:
Fund 101-General Fund: Total increase to the fund balance of $1,201,526 Fund 212-SCCJEPA: Decrease to the fund balance of $4,000,000 Fund 401- Capital Improvement Projects CIP 905328: Increase to the fund balance of $4,000,000
Fund 501-POB 2010: Decrease to the fund balance of $1,051,713 Fund 513-COP 2019: Decrease to the fund balance of $149,813 Fund 610-Insurance Liability: None; the City has always made the required expenditure even though it has never been budgeted.
Alternative Option(s):
Do not approve the attached resolution and provide alternative direction.
Next Steps:
The Finance Department is committed to delivering accurate and transparent analyses of the City's financial position and to managing public resources with diligence, integrity, and accountability. If approved, Finance staff will enter the budget and actual entries authorized by the resolution.
Attachment(s):
A. Resolution No. 2026-113
ATTACHMENT A
RESOLUTION NO. 2026-113
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAMON AUTHORIZING BUDGET ADJUSTMENTS AND FUND TRANSFERS IN FUNDS 513 (COP 2019), 401 (CAPITAL IMPROVEMENTS), 101 (GENERAL FUND), 610 (INSURANCE LIABILITY), 501 (POB 2010), AND 212 (SCCJEPA) TO ALIGN CITY FINANCIAL RECORDS WITH
APPROVED PROJECT FUNDING, ACCOUNTING PRACTICES, AND PRIOR
COUNCIL ACTIONS
WHEREAS, Fund 513 – Certificates of Participation (COP) 2019 is the City’s debt service fund for the 2019 Certificates of Participation and is used to allocate bond proceeds to capital projects and to account for resources restricted to the payment of principal and interest; and
WHEREAS, an analysis of Fund 513 at the close of FY 2025–26 identified a remaining balance of $149,813 available for eligible Fund – 401 Capital Improvement Projects (CIPs); and
WHEREAS, CIP 200006 – San Ramon Olympic Pool and Aquatic Park Renovation was previously funded in FY 2022–23 with Fund 101 - General Fund resources and is eligible for COP 2019 funding; and
WHEREAS, reallocating $149,813 of COP 2019 proceeds to CIP 200006 requires returning an equivalent amount to the General Fund to correct the original funding source; and
WHEREAS, Fund 610 – Insurance Liability is used to administer City risk management and insurance obligations, including DRFA retiree pension and medical benefits; and
WHEREAS, the City makes annual Unfunded Accrued Liability (UAL) payments to CalPERS for DRFA retirees, split between the City of San Ramon (60.92%) and the City of Dublin (39.08%); and
WHEREAS, although the City administers DRFA pension obligations, no formal budget practice had been established for DRFA’s annual UAL payments, and implementing such a practice beginning FY 2025–26 will improve alignment between budget and actuals without affecting Fund 610 balances; and
WHEREAS, Fund 501 – Pension Obligation Bond (POB) 2010 is a debt service fund used to account for resources restricted for principal and interest payments associated with the 2010 Pension Obligation Bonds; and
WHEREAS, an erroneous transfer into Fund 501 from the General Fund in FY 2021– 22 created an overage of $1,051,713 beyond the balance held with the fiscal agent; and
Resolution No. 2026-113
WHEREAS, correcting this error requires transferring $1,051,713 from Fund 501 back to Fund 101 – General Fund to reconcile the fund balance; and WHEREAS, on February 22, 2022, through Resolution No. 2022-028, the City Council approved an additional $4,000,000 appropriation from Fund 212 – SCCJEPA to Fund 401 – Capital Improvement Project 905328 – Crow Canyon Road Widening Project; and
WHEREAS, this appropriation was mistakenly reversed in the accounting system, creating a funding shortfall that must be corrected by restoring the $4,000,000 transfer to CIP 905328.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Ramon does hereby authorize the following actions:
COP 2019 / CIP 200006 / General Fund Adjustments
a. Replace $149,813 of CIP 200006 funding previously sourced from the General Fund with COP 2019 monies.
b. Increase the “Transfer out” budget in Fund 513 – COP 2019. c. Increase the “Transfer in” budget in Fund 401 – CIP 200006. d. Increase the “Transfer out” budget in Fund 401 – CIP 200006. e. Increase the “Transfer in” budget to Fund 101 – General Fund in the amount of $149,813.
f. Enter matching actual entries.
Fund 610 – DRFA UAL Budget Establishment
a. Establish a pension expenditure budget for the DRFA Unfunded Accrued Liability in the amount of $1,191,994 for FY 2025–26.
b. Establish a pension expenditure budget in the amount of $1,133,525 for FY 2026–27.
Fund 501 – POB 2010 Correction
a. Increase the “Transfer out” budget in Fund 501 – POB 2010 by $1,051,713. b. Increase the “Transfer in” budget in Fund 101 – General Fund by $1,051,713. c. Enter matching actual entries.
Fund 212 – SCCJEPA / CIP 905328 Adjustment
a. Increase the “Transfer out” budget in Fund 212 – SCCJEPA by $4,000,000. b. Increase the “Transfer in” budget in Fund 401 – CIP 905328 by $4,000,000. c. Enter matching actual entries in accordance with Council’s prior authorization under Resolution No. 2022-028.
BE IT FURTHER RESOLVED, that these actions ensure proper alignment of funding sources, compliance with accounting requirements, and correction of prior administrative errors; and
Resolution No. 2026-113
BE IT FURTHER RESOLVED, that this Resolution shall take effect immediately upon its passage and adoption.
PASSED, APPROVED, AND ADOPTED, at the meeting of August 25, 2026, by the following votes:
AYES:
NOES:
ABSENT:
ABSTAIN:
________________________________
Mark Armstrong, Mayor
ATTEST:
Joan Snashall, City Clerk